The Lok Sabha passed the Finance Bill 2021 on Tuesday (March 23). The passage of Finance Bill by the Parliament marks the completion of the budgetary process.
Finance Minister Nirmala Sitharaman said, “Changes have been made to boost ease of doing business and easing compliance burden. There will be no change in the rate of the Income Tax. Prime Minister was clear that we are not going to generate resources by raising the tax.”
The opposition members pointed out the high prices of petrol and diesel and said that Petroleum products should be brought under Goods and Service Tax Council.
Nirmala Sitharaman said that the Centre is open to discussing the idea in the GST Council meeting.
“GST-related matters are not Ministry of Finance matters. They are the GST council matters in which all states’ Finance Ministers are members. Without the council’s clearance, no step is taken,” said the Finance Minister
