Parliament has passed the Finance Bill, 2024, the Appropriation Bill, 2024 and the Jammu and Kashmir Appropriation Bill, 2024. The Lok Sabha has already passed these Bills.
The Finance Bill gives effect to the financial proposals of the Central Government for the financial year 2024-2025. The Appropriation Bill seeks to authorize the payment and appropriation of certain sums from the Consolidated Fund of India for services during the financial year 2024-25. The Jammu and Kashmir Appropriation Bill authorizes the payment and appropriation of certain sums from the Consolidated Fund of the Union Territory of Jammu and Kashmir for services for the financial year 2024-25.
J&K Appropriation Bill was passed today by the Upper House of Parliament. J&K Government Officers were appreciated & applauded on the floor of the august House. Congratulations to the entire Budget Division of the Finance Department for their remarkable work and dedication. pic.twitter.com/pvOqScHJ87
— Jammu And Kashmir Finance & Accounts Society (@JAKFAS_) August 8, 2024
Responding to the discussion, Union Finance Minister Nirmala Sitharaman has said that the government has been spending more and more money since Covid by continuously focusing on capital expenditure. She said that the effective capital expenditure in the year 2023-24 has been Rs 15 lakh two thousand crore i.e. 18 percent. The Finance Minister was responding to the discussion on the Finance Bill, Appropriation Bill and Jammu & Kashmir Appropriation Bill in the Rajya Sabha today.
Today in Parliament, Spoke on The Appropriation Bill (2024) & The Jammu and Kashmir Appropriation Bill (2024).#parliamentsession2024 pic.twitter.com/sDydCtQgLR
— Prof (Dr) Sikander Kumar (@SikanderBJP) August 7, 2024
Regarding the Railway Budget, Smt. Sitharaman said that since the inclusion of the Railway Budget in the main Budget, there has been no reduction in its allocation, rather it has increased further.
The Finance Minister also clarified that the minimum balance requirement does not apply to PM Jan Dhan account holders or the minimum basic savings bank deposit account held by the people and no charges are levied. She said that out of the total 65 crore basic savings bank accounts, 52 crore are Jan Dhan accounts.
During the discussion, Vivek Tankha of the Congress said that there is no special tax regime for women in the country. He demanded a dedicated work complex for women entrepreneurs. Ramilaben Bara of the Bharatiya Janata Party said that this Budget is for the poor, villagers, youth and women. She said that the Finance Minister has made various provisions for the benefit of women in this Bill. Dola Sen of Trinamool Congress demanded withdrawal of 18 per cent GST on life insurance and health insurance. V. Vijayasai Reddy of YSR Congress urged the Finance Minister to convert all savings accounts into zero balance savings accounts like other accounts under various schemes. Sanjay Singh of Aam Aadmi Party, Debashish Samantray of Biju Janata Dal, Kanimozhi of Dravida Munnetra Kazhagam also participated in the discussion.
After this, members raised various issues of public importance in special mention in Rajya Sabha. Later, the proceedings of the House were adjourned for the day.
