The Lok Sabha passed the Finance Bill, 2026, by voice vote. The bill aims to implement the financial proposals of the Central Government for the financial year 2026-2027. The House approved the amendments proposed by the government.
In response to the discussion on the Finance Bill, 2026, in the House today, Union Finance Minister Nirmala Sitharaman stated that the government is empowering micro, small, and medium enterprises (MSMEs), farmers, and cooperatives, as they are central to employment generation, production, and overall development of the country. Mrs. Sitharaman also said that the government is supporting key sectors such as digital infrastructure, electronics manufacturing, marine products, leather, critical minerals, and nuclear energy, among others, to make India a developed nation. She added that these reforms are not being implemented out of compulsion, but out of conviction, with clarity, commitment, and confidence. Mrs. Sitharaman stated that India is benefiting from these reforms under the leadership of Prime Minister Narendra Modi. The Minister also informed that this finance bill focuses on the middle class and the government has exempted basic customs duty on 17 critical life-saving drugs.
The Minister said that the Finance Bill 2026-27 is based on five key principles. These include trust-based tax administration, improving the quality of life for ordinary citizens, empowering MSMEs, farmers, and cooperatives, strengthening India as a global business hub, and enabling seamless trade facilitation and customs reforms. She added that the Finance Bill aims to improve liquidity and reduce the compliance burden. Mrs. Sitharaman stated that the bill focuses on ease of living and minimizing the hardship of taxpayers.
Referring to the West Asia crisis and emerging challenges, the Finance Minister said that the government is taking steps to address these challenges and mitigate their impact. Mrs. Sitharaman also criticised the opposition, saying that instead of supporting the government, they are taking irresponsible steps and misleading the public.