Union Finance Minister Nirmala Sitharaman, today will move the financial bill 2023 to give effect to the financial proposals for the central government. The grant was passed in Parliament yesterday. Without discussion, the Lok Sabha passed the Union Budget earlier yesterday as the Opposition sought to cause chaos by calling for a JPC investigation into claims against the Adani Group. The Union Budget anticipates spending almost Rs 45 lakh crore for the fiscal year beginning April 1.Due to protests from both sides, the majority of the second leg of the budget session was vanished, making it one of the few times when the budget was enacted without any debate. The Oppositions cut motion or modifications to the government spending plan were put to a vote as soon as the Lok Sabha reconvened at 6 oclock following two adjournments, but they were defeated by voice vote. Speaker Om Birla. Nirmala Sitharaman, the minister of finance, then moved the pertinent appropriations bills for discussion and voting together with the grant requests for 2023–24.Tax suggestions made by Sitharaman during the Budget presentation on February 1 are included in the Finance Bill 2023. All laws pertaining to the budget will be sent to the Rajya Sabha, which cannot amend them and must simply return them to the Lok Sabha after discussion because they are categorised as money bills that only need to be approved by the Lower House.The Parliament session was started on March 13 and is expected to get over by April 6. It is been speculated that the session may get shorten after the completion of the budgetary exercise. Discussions on the ministries of railroad, rural development, health and family welfare, Panchayati Raj, tribal affairs, tourism, and culture were approved by the Business Advisory Committee.The continuous ruckus in the Parliament was witnessing the adjournment. While the BJP was demanding an apology from Congress leader over the remarks on PM Modi in UK, and was also making demand for the probing committee on Adani-Hindenburg row.Sitharaman to meet CEOs of PSU Banks on SaturdayThe decision of doing this meeting came after the global concern over failure of the banks internationally. Finance Minister Nirmala Sitaraman is scheduled to meet the managing directors of the Public Sectors Bank to review the reasons for the back drop for the few banks over the monetary issues in US and Credit Suisse.According to sources, the meeting will assess the banks performance in meeting the objectives set for the various government programmes, such as the Kisan Credit Card (KCC), Stand-Up India, Pradhan Mantri Mudra Yojana (PMMY), and emergency credit line guarantee scheme (ECLGS) to aid businesses impacted by COVID-19. The banks will be asked to concentrate on the issues emphasised by the Budget, particularly loan flow to productive sectors, as this is the first full review meeting after the presentation of the Budget 2023–24.The finance minister would assess the banks business growth plans for the upcoming fiscal year, as well as credit growth, asset quality, capital raising, and non-performing assets (NPAs) of Rs 100 crore. Meanwhile, the Indian experts and policymakers have said that Indian banking system is in good shape and has an ability to handle the situation caused due to monetary tightening.The 4R strategy, which the government adopted, stands for Recognizing NPAs Transparently, Resolution and Recovery, Recapitalizing PSBs, and Financial Ecosystem Reforms. According to the experts, government-led major banking reforms during the past eight years have ensured credit restraint, responsible lending, and enhanced governance, in addition to the adoption of technology, the merger of banks, and retaining the publics trust in bankers.
