22 March,2017 07:55 AM IST | | Agencies
Finance Minister Arun Jaitley on Tuesday moved the Finance Bill, 2017, for consideration and passage in the Lok Sabha, saying that since it provides for electoral bonds, it required consideration as a Money Bill, which can only be debated in the Lower House
Arun Jaitley
New Delhi: Finance Minister Arun Jaitley on Tuesday moved the Finance Bill, 2017, for consideration and passage in the Lok Sabha, saying that since it provides for electoral bonds, it required consideration as a Money Bill, which can only be debated in the Lower House.
The Government also moved a fresh proposal to cap cash transactions at Rs 2 lakh instead of Rs 3 lakh as provided in the Budget, as it introduced as many as 40 amendments to the Finance Bill in an 'unprecedented move.'
As the Finance Bill was taken up for consideration in the Lok Sabha, opposition parties like TMC, BJD and RSP protested against the introduction of the amendments to 40 Acts, saying it was being done in the form of "back-door entry".
Jaitley said that following the government'' demonetisation drive to curb corruption, various income tax incentives had been introduced, including electoral bonds, to deal with black money in political life. This had necessitated amendments to various Acts.
