Sitharaman introduces tax amendment Bill to attract global capital, strengthen manufacturing
The Appropriation Bill, 2026 was passed in Lok Sabha by Voice vote amid opposition protest over alleged theft of donation at the Ram Temple and other issues.
Union Finance Minister Nirmala Sitharaman introduced the Taxation and Other Laws Amendment Bill, 2026 in the Lok Sabha on Tuesday, aiming to make India a more attractive destination for global capital and strengthen domestic manufacturing. The bill seeks to amend three laws - the Payment and Settlement Systems Act, 2007, the Income-tax Act, 2025, and the Finance Act, 2026 - and replaces the Income-tax (Amendment) Ordinance, 2026.
Sitharaman highlighted the need for immediate taxation measures in response to geopolitical developments and disruptions in international trade and supply chains, emphasizing the bill's objectives of mitigating external economic shocks, ensuring stability in the domestic economy, and supporting key sectors affected by global conditions.
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