India: On Wednesday, Parliament passed the Finance Bill of 2021. The bill seeks to insert amendments into all the concerned laws and it gives effect to the financial proposals of the central government. The finance bill for this year has some major changes in the proposal. Finance Minister Nirmala Sitharaman accused the Congress-led UPA government of mismanaging the economy.
FM said, “Things were a mess and the economy was mismanaged under the tenure of UPA. As of now Non-Performing Assets (NPAs) have declined to Rs 8.99 lakh crore as of March 2020”.
She further added, “The 2008 financial crisis was not similar to last year’s Covid crisis. Our Prime Minister, even during the peak of the Covid crises, was engaged in more than 100 virtual meetings to learn about the development of the crises. Last year, we presented a few mini budgets and this union budget too. We are handling the economy well”.
Sitharaman also said that Prime Minister Narendra Modi has led a corruption-free government. She even added that there will be no change in the rate of income tax. During the debate on the bill, several opposition members had pointed out the high prices of petrol and diesel.