{"id":31543,"date":"2022-03-25T18:53:09","date_gmt":"2022-03-25T13:23:09","guid":{"rendered":"https:\/\/tradebrains.in\/features\/ls-fm-finance-bill-corrected\/"},"modified":"2022-03-25T18:53:09","modified_gmt":"2022-03-25T13:23:09","slug":"ls-fm-finance-bill-corrected","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/ls-fm-finance-bill-corrected\/","title":{"rendered":"LS passes Finance Bill; completes budgetary exercise for FY23"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-983214520\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Mar 25 (PTI) The Lok Sabha on Friday approved the Finance Bill, which gives effect to new taxation, thus completing the Budgetary exercise for 2022-23 fiscal.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4292686629\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>The Finance Bill was approved by the Lower House after accepting 39 official amendments moved by Finance Minister Nirmala Sitharaman and rejecting the amendments proposed by the opposition by voice vote.<\/p>\n<p>Replying to a discussion on the Finance Bill, Sitharaman said India was probably the only country that did not resort to new taxes to fund the recovery of the economy hit by the COVID pandemic.<\/p>\n<p>She said that according to an OECD report, as many as 32 countries have increased the tax rates after the pandemic.<\/p><div class=\"trade-content_5\" id=\"trade-2703095476\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>&#8220;Instead, we put more money where multiplier effect would be maximum,&#8221; she said while referring to the Budget&#8217;s focus on raising capital expenditure.<\/p>\n<p>The Budget 2022-23 raised Capex by 35.4 per cent to Rs 7.5 lakh crore to continue the public investment-led recovery of the pandemic battered economy.<\/p>\n<p>Observing that the Modi government believes in lowering taxes, she said the reduction in corporate tax has &#8220;helped the economy, government and companies, and we are seeing the progress&#8221;. She said Rs 7.3 lakh crore has been collected as corporate tax so far this fiscal.<\/p>\n<p>The number of taxpayers has increased to 9.1 crore from 5 crore a few years back, she said, adding the government is taking steps to widen the tax base and the faceless assessment has been received well by the people.<\/p>\n<p>Responding to the concerns expressed by members on imposing customs duty on umbrella, she said it was done to encourage domestic manufacturing by MSMEs.<\/p>\n<p>She further said that IFSC in Gujarat is making steady progress, and several global funds and insurance companies are setting up offices at the International Financial Services Centre in Gujarat International Finance Tec-City (GIFT). PTI JD CS BAL  RUJ<\/p><div class=\"trade-content-10\" id=\"trade-1770912549\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<div class=\"trade-after-content\" id=\"trade-1843138893\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Mar 25 (PTI) The Lok Sabha on Friday approved the Finance Bill, which gives effect to new taxation, thus completing the Budgetary exercise for 2022-23 fiscal. The Finance Bill was approved by the Lower House after accepting 39 official amendments moved by Finance Minister Nirmala Sitharaman and rejecting the amendments proposed by the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-31543","post","type-post","status-publish","format-standard","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LS passes Finance Bill; completes budgetary exercise for FY23 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/ls-fm-finance-bill-corrected\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LS passes Finance Bill; completes budgetary exercise for FY23\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Mar 25 (PTI) The Lok Sabha on Friday approved the Finance Bill, which gives effect to new taxation, thus completing the Budgetary exercise for 2022-23 fiscal. 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