New Delhi: The Lok Sabha on Tuesday passed the Finance Bill 2025, with Finance Minister Nirmala Sitharaman asserting that the legislation aligns with India’s long-term vision of becoming a developed nation by 2047. The bill was cleared after the House adopted amendments proposed by the Finance Minister, following a debate that began on Monday.
Presenting the bill, Sitharaman emphasized the government’s commitment to ensuring tax stability, simplifying business regulations, and extending substantial tax relief measures. “This Finance Bill seeks to fulfill the aspirations of the people while advancing towards the goal of Viksit Bharat by 2047,” she stated.
The minister underscored various tax relief initiatives announced in the Union Budget, while also highlighting efforts to enhance tax compliance, especially concerning foreign assets. She addressed concerns raised by members on key fiscal policies, including Goods and Services Tax (GST) implementation and revenue mobilization strategies.
However, the bill faced criticism from opposition leaders, who accused the government of offering short-term fixes instead of addressing deeper structural economic challenges. They argued that the legislation failed to tackle fundamental issues such as inflation, unemployment, and widening income inequality.
