Budget Session will have several key economic and policy bills to shape India's fiscal landscape
New Delhi: Following the presentation of the Economic Survey on January 31 and the Union Budget on February 1, the Budget Session 2025 is poised to address a range of significant legislative matters.
This year's session will not only include the introduction and passage of key bills but also crucial financial discussions that will shape India's fiscal landscape.
A series of important bills are likely to be taken up during the session. These include the Banking Laws (Amendment) Bill, 2024, aimed at strengthening banking regulations and oversight, and
Another notable proposal is the Disaster Management (Amendment) Bill, 2024, which seeks to improve disaster response mechanisms across the country.
Additionally, the Oilfields (Regulation and Development) Amendment Bill, 2024 will propose updates to the laws surrounding oil exploration and extraction, while the Boilers Bill, 2024 is set to introduce new safety and operational standards for boilers in industrial applications.
Among other bills likely to be introduced is the Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of the State of Goa Bill, 2024, which will address the reallocation of assembly constituencies to better represent scheduled tribes in the state.
The Waqf (Amendment) Bill, 2024 and the Mussalman Wakf (Repeal) Bill, 2024 are also expected to bring reforms to the management of religious endowments.
Maritime laws will see several updates, with the Bills of Lading Bill, 2024, Carriage of Goods by Sea Bill, 2024, Coastal Shipping Bill, 2024, and the Merchant Shipping Bill, 2024 all set to modernize shipping regulations.
Above all, the Finance Bill, 2025 will be central to implementing the budgetary proposals and tax reforms which will be announced by the finance minister on February 1.
Other key bills include the Protection of Interests in Aircraft Objects Bill, 2025, which will safeguard financial interests related to aviation, and the Immigration and Foreigners Bill, 2025, which will bring changes to immigration and foreigner regulations in India.
In terms of financial business, the session will see the discussion and voting on Demands for Grants for 2025-26, followed by the introduction, consideration, and passage of the related Appropriation Bill.
The Discussion and Voting on Demands for Grants for 2025-26 is an essential aspect of parliamentary procedures, allowing for the approval of government spending for the upcoming fiscal year while promoting accountability and transparency.
Demands for Grants are essentially requests made by the government to Parliament, specifying the amount of money it needs to meet its expenses for a given year.
These expenses cover a wide range of areas, such as infrastructure, healthcare, defence, education, welfare programs, and more. Each ministry or department submits its own Demands for Grants, detailing the specific amounts needed to fund its activities and programs.
Additionally, the Second and Final Batch of Supplementary Demands for Grants for 2024-25 will be reviewed, along with the introduction and passage of the relevant Appropriation Bill.
The Second and Final Batch of Supplementary Demands for Grants for 2024-25 refers to additional funds that the government seeks to allocate after the presentation of the annual budget for the fiscal year. These supplementary demands arise when there are changes in the government's spending needs, which were not anticipated during the initial budget preparation.
The session will also address the Demands for Excess Grants for 2021-22, which will require discussion, voting, and the introduction of a related Appropriation Bill.
Demands for Excess Grants for 2021-22 refer to additional funds that the government seeks to appropriate for the financial year 2021-22 when the expenditure incurred by various ministries or departments exceeded the amount originally approved by Parliament in the budget for that fiscal year.
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