Lok Sabha Approves Finance Bill 2025, Abolishes Digital Tax

The Lok Sabha has passed the Finance Bill 2025 with significant amendments, marking a key step in the Budget approval process. Key changes include the abolition of a digital tax. The Bill now awaits consideration by the Rajya Sabha. The projected GDP for FY2025-26 stands at Rs 3,56,97,923 crore.

The Lok Sabha on Tuesday passed the Finance Bill 2025, incorporating 35 government amendments, including the removal of a 6% digital tax on online advertisements.

With the Lower House's approval, the Finance Bill 2025 now moves to the Rajya Sabha for consideration. This development signifies a pivotal moment in the Budgetary approval process for the fiscal year.

Once ratified by the Rajya Sabha, the Budget for 2025-26, which outlines a total expenditure of Rs 50.65 lakh crore, will be finalized. The fiscal plan proposes a GDP increase to Rs 3,56,97,923 crore, up by 10.1% from the previous fiscal's revised estimates.

(With inputs from agencies.)