Added on : 2019-07-18 20:35:30
The Finance (No. 2) Bill, 2019 was passed in the 17th Lok Sabha. Finance Minister Sitharaman said that the tax proposals in the Finance Bill 2019 are aimed at improving the ease of living and reducing the pain of the citizens. While replying to a discussion on the Finance Bill, Sitharaman said Budget proposals will promote Make in India and digital payment.
The Minister, however, did not say anything on a proposal to increase customs duty to 10 percent on newsprint. Several members have asked the government to reduce hike in customs duty on newsprint saying it would badly hurt the small and medium newspapers.
The Minister, however, did not relax the tax proposals with regards to Foreign Portfolio Investors, TDS on cash withdrawal above Rs 1 crore from banks and hike in customs duty on newsprint as was being demanded by the opposition.