Finance Bill 2025: The Finance Bill 2025 was approved in the Lok Sabha today with 35 government amendments. Finance Minister Nirmala Sitharaman introduced the Finance Bill 2025 with amendments in the Lok Sabha. After getting approval from the Lok Sabha, it will now be introduced in Rajya Sabha.
One of the 35 amendments in the Finance Bill includes provision to abolish 6 percent digital tax applied to online advertisements. If the Bill is approved in the Rajya Sabha, the new amended Finance Bill will be included in the budget process of 2025-25. In the Union Budget 2025-26, the government has allocated a total of Rs 1,000 crore. It has been estimated to cost Rs 50.65 lakh crore. Which is 7.4 percent higher than the current financial year.
The Finance Bill 2025 was introduced with the aim of promoting domestic production and improving tariffs. According to Nirmala Sitharaman, this includes provision for changes in customs duty as well as reduced production costs and seven customs removal for cuts cuts.
Relief in customs
In the new Finance Bill, importers will get relief in cess or surcharge. However, the benefits of both will not be available simultaneously. In order to support domestic manufacturing, the government has made a provision to exemption 35 additional capital goods required for EV batteries and 28 capital goods required for mobile manufacturing from customs duty.
