Odisha News Insight

Lok Sabha passes Appropriation Bill for 2015-16

Indian RupeeNew Delhi, April 29 (IANS): The Lok Sabha on Wednesday passed the Appropriation Bill, allowing the government to withdraw Rs.62.03 lakh crore from the Consolidated Fund to meet its expenditure for 2015-16.

The bill was passed by the lower house of parliament after the demands for grants for several ministries were together put to vote and passed by applying the guillotine — thus completing the second phase of the budgetary exercise.

The demands for grants pertained to the ministries of drinking water and sanitation, health and family welfare, environment, chemicals and fertilizer, home and human resource development.

The appropriations bill, moved by Finance Minister Arun Jaitley, was passed by a voice vote.

The tax proposals of the government for the fiscal as embodied in the Finance Bill 2015, is slated for passage in the Lok Sabha on Thursday, after which it will go to the Rajya Sabha.

The budgetary exercise for 2015-16 will be completed with the passage of the Finance Bill by parliament. The first phase of the process was completed after parliament passed the vote-on-account in March.

Leave a comment