Govt withdraws finance bill from LS list of business

Instead of the finance bill, the government has given priority to the Banking Regulation (Amendment) Bill, 2020, in the Lok Sabha.

The Union government on Wednesday withdrew the finance bill from its revised list of business for Thursday, hours after listing it for passage in the initial agenda.

Instead, the government has given priority to the Banking Regulation (Amendment) Bill, 2020, in the Lok Sabha. Finance minister Nirmala Sitharaman will move the Bill to further amend the Banking Regulation Act, 1949.

The initial list of business for Thursday had only the finance bill 20-21 for passage. Item number 3 of the business list said, “Sitharaman to move that the Bill to give effect to the financial proposals of the Central Government for the financial year 2020-21 be taken into consideration. Also to move that the Bill be passed.”

A government manager said that the passage of the finance bill is a Constitutional requirement and its passage would also signal that the government has completed its key business in the Lok Sabha amid demands from the Opposition quarters for an early close of the session.

The revised list also indicates, according to the official, that the government is in no hurry to conduct its business to wrap up the session.