Monsoon Session of Parliament: Economic bills on tax, shipping and minerals likely to be discussed
Parliament
begins on Monday and will continue until August 21. President Droupadi Murmu has approved the proposal for the session, which will mark the 268th session of the
Rajya Sabha
and a busy legislative schedule for the
Lok Sabha
.
The government will introduce several key
economic bills
on tax, shipping and business frameworks. The bills include changes focussed on a simplified income-tax regime, ease of doing business and fresh impetus to the shipping and minerals sectors.
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Here are the key bills
Income-Tax Bill, 2025
The bill was first introduced in the Lok Sabha on February 13. The LS panel has proposed 285 changes to the bill, the report of which is to be submitted on Monday.
The tax law is set to replace the I-T Act of 1961. It is scheduled to take effect from April 2026. The new bill is aimed at easing language, scrapping outdated provisions and cutting litigations. It also stipulates stronger anti-tax avoidance rules, restore inter-corporate dividend deduction and 'Tax year' to replace 'assessment year'
Indian Ports Bill, 2025
The Indian Ports Bill was introduced in the Lok Sabha on March 28. It sets out to repeal the Indian Ports Act, 1908 and proposes maritime state development council for growth of ports Provides for integrated port development, easier dispute settlement.
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Merchant Shipping Bill, 2024
This bill was first introduced in the Lok Sabha on December 10, 2024. The bill will replace the Act of 1958 to registration, and ownership of ships. It also provides for maritime training regulation, and seafarer welfare.
Coastal Shipping Bill, 2024
The Costal Shipping Bill was passed by the Lok Sabha on April 3. However, it is pending in the Rajya Sabha. This bill aims to regulate vessels engaged in trade within Indian coastal waters. It also provides for legal framework for coastal trade and maritime sector.
Carriage of Goods by Sea Bill, 2024
Like the Coastal Shipping Bill, the Carriage of Goods by Sea Bill has also been passed by the Lok Sabha but is pending in the Rajya Sabha. It will replace Indian Carriage of Goods by Sea Act of 1925 and will govern rules around goods transported by sea from Indian ports.
While these bills are pending in the Parliament, there are a couple of new bills likely to be tabled in the Lok Sabha in the upcoming session.
Jan Vishwas (Amendment of Provisions) Bill, 2025
The Jan Vishwas bill is aimed at decriminalising over 100 outdated provisions under various laws. It also seeks to make it easier for doing business and align regulatory framework with global best business standards.
Mines and Minerals (Development & Regulation) Amendment Bill, 2025
Mines and Minerals bill will ease lease processes, woo private players and aims to speed up mining & exploration of critical minerals. It also aims at expanding scope of National Mineral Exploration Trust.
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