Waqf Amendment Act among 16 Bills to be tabled in Budget Session from today
"Parliament's Budget Session 2025 begins today with 16 key Bills set to be tabled, including the Waqf Amendment Act, Finance Bill, and banking reforms. Stay updated on major legislative changes."
New Delhi: The Budget Session 2025 of Parliament is set to commence today with the presentation of the Economic Survey 2025 by Finance Minister Nirmala Sitharaman.
A total of 16 key Bills are scheduled to be tabled during this session, including the highly anticipated Finance Bill 2025, amendments to the Waqf Act, and changes to banking and maritime laws.
Table of Contents
Key Bills to Be Introduced in Budget Session 2025
Among the major legislative proposals in this session are:
- Finance Bill 2025
- Waqf (Amendment) Bill
- Banking Regulations Act Amendment
- Disaster Management (Amendment) Bill
- Oilfields (Regulation and Development) Amendment Bill
- Maritime and Shipping Law Amendments
- Readjustment of Representation of Scheduled Tribes (ST) in Goa Assembly
- Indian Railways Act and Indian Railways Board Act Merger
- Renaming of the Institute of Rural Management Anand to Tribhuvan Sahkari University
These Bills cover a broad range of sectors, including financial regulations, disaster management, maritime shipping, taxation, and governance reforms.
Finance Bill 2025: Key Highlights
The Finance Bill 2025 is one of the most crucial legislative proposals to be discussed, as it lays the foundation for the implementation of the Union Budget 2025-26. Among the most significant expectations is the introduction of a new Direct Tax Code to replace the Income Tax Act of 1961.
Expected Changes in the Finance Bill 2025:
- Simplified tax laws for better clarity and compliance.
- Easier tax filing procedures for individuals and businesses.
- Potential amendments to GST regulations for improved efficiency.
- Banking sector reforms aimed at strengthening governance and consumer protection.
This bill is crucial in determining tax policies, government spending, and fiscal strategies for the upcoming financial year.
Waqf (Amendment) Bill: Controversial Changes Expected
The Waqf (Amendment) Bill, which seeks to reform the management of Muslim charitable properties in India, was first introduced in August 2024. However, it faced strong opposition and was referred to a Joint Parliamentary Committee (JPC) led by BJP MP Jagdambika Pal.
Key Changes in the Waqf (Amendment) Bill:
- 44 proposed amendments to improve governance of Waqf properties.
- Stronger oversight mechanisms for the management of these assets.
- Streamlining administrative processes to enhance transparency.
The JPC reviewed the bill extensively, holding nearly three dozen meetings. However, tensions escalated as opposition members claimed that their suggestions were being ignored.
The committee’s final report recommended 14 changes, all put forth by members of the ruling BJP-led NDA, while 44 opposition proposals were rejected. This has led to strong criticism from opposition parties, making this one of the most debated bills of the session.
Banking Regulations Act Amendment: Strengthening Financial Governance
Proposed amendments to the Banking Regulations Act aim to strengthen governance in the banking sector and enhance consumer protections. Some anticipated changes include:
- Better safeguards for depositors and investors.
- Improved regulatory compliance for banks.
- Stronger legal frameworks for fraud prevention.
- Simplified banking procedures for customers.
The bill is expected to introduce new provisions that enhance transparency and accountability in financial institutions.
Major Reforms in Shipping and Maritime Laws
Several bills related to the maritime and shipping sector are set to be introduced, including:
- Bills of Lading Bill
- Carriage of Goods by Sea Bill
- Coastal Shipping Bill
- Merchant Shipping Bill 2024
These amendments aim to modernize India’s shipping industry by streamlining regulations, improving safety measures, and ensuring compliance with international maritime standards.
Disaster Management (Amendment) Bill: Strengthening Response Mechanisms
The Disaster Management (Amendment) Bill proposes significant changes to India’s disaster response strategies. Key provisions include:
- Shifting responsibility for disaster preparedness to central and state-level agencies.
- Creation of a real-time disaster database for faster and more efficient response.
- Improved funding mechanisms for disaster relief and rehabilitation.
This bill is expected to improve the country’s ability to handle natural disasters, pandemics, and other emergencies.
Other Key Legislative Proposals
Readjustment of Scheduled Tribes (ST) Representation in Goa Assembly
A bill aimed at reallocating Assembly seats in Goa is also on the agenda. The purpose is to ensure fair political representation for Scheduled Tribes (ST) in the state.
Merger of Indian Railways and Indian Railways Board Acts
A legislative proposal aims to combine the Indian Railways Act and the Indian Railways Board Act to enhance administrative efficiency and streamline decision-making in the railway sector.
Renaming the Institute of Rural Management Anand (IRMA)
Another bill proposes to rename the Institute of Rural Management Anand (IRMA) as Tribhuvan Sahkari University and grant it ‘Institution of National Importance’ status.
