Rajya Sabha Returns Finance Bill 2025 with Amendments

The Rajya Sabha returned the Finance Bill 2025 to the Lok Sabha, incorporating 35 amendments, including the removal of a 6% digital tax on online ads. The Union Budget 2025-26 outlines an expenditure of Rs 50.65 lakh crore and projects a fiscal deficit of 4.4% of GDP.

On Thursday, the Rajya Sabha sent the Finance Bill 2025 back to the Lok Sabha, incorporating 35 amendments, notably abolishing a 6% digital tax on online advertisements. This marks the completion of the 2025-26 budgetary cycle, initiated on February 1.

Finance Minister Nirmala Sitharaman introduced the bills, and the Lok Sabha passed the Finance Bill on March 25, with the Appropriation Bill approved on March 21. Sitharaman emphasized cautious revenue management but highlighted the move to set a Rs 12 lakh tax-free threshold, respecting taxpayers.

The 2025-26 budget envisions Rs 50.65 lakh crore in spending, with capital expenditure estimated at Rs 11.22 lakh crore. It forecasts Rs 42.70 lakh crore in tax collection and Rs 14.01 lakh crore in borrowing, projecting a GDP rise to Rs 3,56,97,923 crore, marking a 10.1% increase over revised FY2024-25 figures.

(With inputs from agencies.)