What to expect in Budget session

What to expect in Budget session
Despite the Opposition toughening its stand on finalising the GST structure, the Centre has listed three legislation during the Budget session to roll out the tax regime before September. The government has identified 38 legislation, including two on GST, to push through Parliament, which will start from Tuesday, ahead of the Budget presentation on February 1.

As per the list of businesses prepared by the parliamentary affairs ministry, the finance ministry has expressed willingness to take up for discussion and passage of the Central Goods & Service Tax Bill, 2017, the Integrated Goods & Services Tax Bill, 2017, and the Goods & Services Tax (Compensation for Loss of Revenue) Bill, 2017, during the subsequent part of the first session of Parliament.

The finance ministry wants to get Parliament approval for the third batch of supplementary demands for grants for 2016-17, the Chit Funds (Amendment) Bill, 2017, and Specified Bank Notes (Cessation of Liabilities) Bill, 2017, to replace the ordinance brought subsequent to the government’s decision to demonetise Rs 500 and Rs 1,000 notes.

Besides, it also wants both the Houses to give its go ahead to the Sebi Amendment Bill and Financial Resolution and Deposit Insurance (FRDI) Bill, 2017. With water-sharing disputes acquiring political overtones, especially in states like Karnataka, Tamil Nadu and Odisha, the water resources ministry has lined up the Inter-State River Water Disputes (Amendment) Bill, 2017, for this session.

The Centre wants to amend the Inter-State Water Disputes Act, 1956, to introduce a single permanent tribunal to quickly decide river water sharing disputes between states and have court benches sort out differences on water sharing.

Similarly, the government intends to alter the Consumer Protection Bill of 2015 to make celebrity endorsement of products and services accountable to check false and misleading claims of private companies to sell their goods.

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