Lok Sabha to Resume Finance Bill Debate Amid Key Tax Reforms

New Delhi: The Lok Sabha will continue discussions on the Finance Bill, 2025, on Tuesday, a day after Union Finance Minister Nirmala Sitharaman introduced the bill in Parliament, seeking approval for crucial Budget 2025-26 proposals.

Among the 59 amendments proposed, a major highlight is the decision to scrap the 6% equalization levy, commonly known as the Google tax, on online ad services provided by tech giants like Google and Meta. This move, effective April 1, 2025, is seen as an effort to ease tensions with the United States, as President Donald Trump has warned of retaliatory tariffs on nations imposing digital taxes on American firms.

The Union Budget 2025-26, presented by Sitharaman on February 1, offers significant tax relief, including zero income tax on a monthly income of up to ₹1 lakh, aiming to boost household savings and consumption. The budget also focuses on agriculture, MSMEs, investments, and exports, with an overarching goal of transforming India into a ‘Viksit Bharat’ by 2047.