The government is set to introduce six new Bills in the Lok Sabha today. Among these, Finance Minister Nirmala Sitharaman will present the Banking Laws (Amendment) Bill, 2024, which aims to modify the RBI Act, the Banking Regulation Act, and the SBI Act, among other laws. Additionally, Union Railway Minister Ashwini Vaishnaw will introduce the Railways (Amendment) Bill, 2024.
During her address in the Rajya Sabha on Thursday, Nirmala Sitharaman emphasised that the 2024 Budget maintains a strong focus on capital expenditure, which remains consistent at Rs 11.11 lakh crore, as previously indicated. She highlighted that the substantial capital spending has significantly contributed to India's emergence as the world's fastest-growing economy. Sitharaman also noted that the Budget carefully balances multiple critical objectives, including inclusive growth, job creation, capital expenditure, and fiscal consolidation.
After Union Minister of Minority Affairs Kiren Rijiju introduced the Bill, opposition parties sharply condemned it, labelling the proposed law as “unconstitutional,” “anti-minority,” and “divisive.” In response, the government referred the Waqf (Amendment) Bill, 2024 to a Joint Committee of Parliament. This committee includes members from both Houses, representing multiple parties, with their composition reflecting the parties' strength in Parliament.
Watch Live Updates here:
