Finance Bill 2011 Likely To Be Enacted This Month
WITH elections in several States, Parliamentarians would rather like to be more in their constituencies than in the Parliament, this Budget Session of Parliament is likely to be a truncated one. We understand that the Finance Bill will get through both houses by 25 th of this month and will be enacted in a couple of days and the provisions are likely to be effective from 1 st April 2011.
In any case the present day politics does not allow any debate on serious issues and Parliament has to be adjourned often as proceedings are not allowed smoothly. So the Budget will have to be passed amidst the din without any serious debate. So the ritual will be completed and lo and behold, we will have the Finance Act 2011 in place. Some years ago the opposition parties which did not allow any debate in Parliament on the budget met the Prime Minister and gave written suggestions on the budget. The Prime Minister politely but firmly declined to accept it and told them that they should have made their suggestions inside Parliament, not in the PM's Office!
We will bring you more incisive analyses on the Finance Bill in the next few days and we hope the government would consider the suggestions of the concerned Netizens before the Finance Bill is enacted.