The Rajya Sabha today passed the finance bill and appropriation bill for Jammu and Kashmir, despite the ruckus created by the opposition party seeking the joint Parliamentary committee probe in the Adani-Hindenburg issue. Opposition parties on the same issue last week also created a ruckus, despite that both the bills got passed in the Lok Sabha.As the Opposition continued to raise slogans and protest, the Rajya Sabha cleared several bills and sent them back to the Lok Sabha without any discussion. They include the Budget Bill for 2023, the Jammu and Kashmir Appropriation (No 2) Bill, and the Jammu and Kashmir Appropriation Bill.In the first minute of the days proceedings, due to the continued protests by the opposition parties, both Lok Sabha and Rajya Sabha got adjourned.Today, both Lok Sabha and Rajya Sabha were adjourned within a minute of the start of the proceedings for the day as protests in both Houses continued. Members of the Opposition held a strategy meeting earlier today morning, members dressed in black to protest the disqualification of Rahul Gandhi as a member of Parliament.The day after the Chief Judicial Magistrates court in Surat found Congress leader Rahul Gandhi guilty of criminal defamation in connection with his remark about the Modi surname, Gandhi was barred from the Lok Sabha. It is anticipated that the disqualification will significantly affect the remaining Budget Session proceedings.The Finance Bill, introduced by Finance Minister Nirmala Sitharaman, was approved by the Lok Sabha on Friday amidst opposition members slogan chanting. The Budgets tax ideas would become law if the Finance Bill was approved. For the fiscal year beginning on April 1, the budget anticipates spending of almost Rs 45 lakh crore.Accept and return of money bills are moved without any discussions. These are:The Jammu and Kashmir Appropriation (No. 2) Bill, 2023The Jammu and Kashmir Appropriation Bill, 2023The Appropriation (No.2) Bill, 2023The Appropriation Bill, 2023The Bill aims to authorise the payment and appropriation of certain sums from and out of the Consolidated Fund of India. It has been anticipated that the move is likely to discourage F&O traders, as the government aims to tax them more since turnover is high in such transactions.According to reports, a total of 64 official amendments to Finance Bills were tabled in Parliament by Finance Minister Nirmala Sitharaman on February 1.What is Appropriation BillThis bill gives the government the authority to take money out of the Consolidated Fund of India to cover expenses during the fiscal year. This year the bill was passed without any discussions in the parliament.Major amendments when the bill was passed in Lok SabhaThe finance minister Nirmala Sitharaman stated that the Reserve Bank of India will look into the concerns relating to credit card payments for international visits not being captured when introducing the Finance Bill 2023 for consideration and adoption in the Lok Sabha, the Liberalized Remittances Program was announced (LRS). The national pension system for public employees needs to be changed, according to representations made, Sitharaman stated.Finance Minister Nirmala Sitharaman further added that it has been discovered that payments made for international travel using credit cards are not recorded under LRS and that such payments avoid tax collection at the source. She said, “Reserve Bank of India is being asked to look into this to put credit card payments for international tours within the ambit of LRS and tax collection at source from now on.”
