The Lok Sabha passed the Taxation and other Laws (Amendment) Bill without a debate due to continued Opposition protests over various issues that disrupted proceedings of the House. The disruption came as the Opposition continues to press for discussions on issues including alleged irregularities related to Ram temple donations and alleged police action against student protesters.
The proposed legislation seeks amendments to the Payment and Settlement Systems Act, 2007, the Income-Tax Act, 2025, and the Finance Act, 2026. Through the Bill the government seeks to attract more foreign capital, promote domestic electronics manufacturing and make it easier for foreign cloud companies to use Indian data centres by providing ‘process certainty’. The legislation also amends the Payment and Settlement Systems Act, granting the government power to introduce Merchant Discount Rates (MDR) on UPI and RuPay transactions, ending the mandatory zero-fee era.
Meanwhile, the Rajya Sabha cleared the Appropriation Bill, which seeks Parliament’s approval for expenditure exceeding the budget estimates during the financial year 2022-23.
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