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    TN Budget: Revenue deficit at Rs 55,775 crore, fiscal deficit estimated at Rs 1,21,819 crore
    As Monsoon Session ends, Oppn slams Maharashtra govt over GDP spending, 'missing link' bridge issues
    Kerala Assembly: LDF boycotts proceedings over Finance Bill’s Subject Committee bypass
    Maharashtra farm loan waiver roll out from July 5; no eligible tiller to miss out: Govt
    Liquor tax row: CPI(M) accuses Kerala CM of making ''incorrect'' statements, seeks clarification
    Maharashtra govt tables Rs 97,706 cr supplementary demands; Rs 20,552 cr for farm loan waiver
    'Minimal space' for new programmes, says CM Vijay-led TN govt
    Lok Sabha adjourned sine die
    Telangana’s fiscal deficit stands at Rs 77,000 cr till Feb, 143 per cent of budget estimate
    THE FINANCE BILL, 2026 AS PASSED BY LOK SABHA ON 25.03.2026
    Several 'facilitative' steps taken in Budget for middle class: Sitharaman
    Lok Sabha passes Finance Bill 2026 with 32 govt amendments
    Delhi CM Rekha Gupta presents Rs 1.037 lakh cr budget; Rs 22,236 crore for 'green initiatives'
    Himachal CM Sukhu presents Rs 54,928-cr budget for FY27 with thrust on rural economy
    Himachal CM Sukhu presents Rs 54,928-cr budget for FY27 with thrust on rural economy
    Tripura CM declares 5 pc DA hike for govt employees
    Economic Stabilization Fund to help deal with unanticipated crisis: Sitharaman
    Lok Sabha approves supplementary demands for grants for additional Rs 2.01 lakh cr spending in FY26
    Economic Stabilisation Fund to help govt respond to global challenges: Sitharaman
    Economic Stabilisation Fund shows Modi govt's farsightedness: Jagdambika Pal
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    August 5, 2026
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    Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
    Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
    July 10, 2026
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    Poor fiscal management and legislative neglect draw opposition criticism over Maharashtra's budget, infrastructure, education, and power-sector concerns.
    Opposition parties criticised the Maharashtra government for poor fiscal management, limited legislative discussion, and reliance on supplementary demands that they said exposed flaws in the original budget. They also alleged governance failures in infrastructure, education, temple administration, examinations, and the power sector, including issues linked to the Mumbai-Pune Expressway's Missing Link project, unpaid contractor dues, and schools lacking basic facilities.
    July 1, 2026
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    Subject committee scrutiny of finance bills sparks assembly boycott over liquor tax policy changes.
    Opposition members in the Kerala Assembly objected to the government moving the Finance Bill directly before the House without first referring it to the Subject Committee. The dispute concerned proposed changes to liquor-related tax policy, including amendments to the Kerala GST framework and a substantial reduction in taxes on certain liquor products. The Chief Minister said all legal and procedural requirements had been followed and that there was no legal basis for the objection, after which the Speaker rejected the point of order and the Opposition boycotted the proceedings.
    June 29, 2026
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    Farm loan waiver rollout begins with mandatory Agristack Farmer ID and assured coverage for eligible cultivators.
    Farm loan waiver benefits under the Maharashtra government's Punyashlok Ahilyadevi Holkar Shetkari Karjmukti Yojana are scheduled to begin disbursement from July 5, after the scheme's financial allocation is completed through supplementary demands and receives the required approval. The scheme provides loan waiver relief up to the prescribed ceiling, with the government assuring that no eligible agriculturist will be excluded from the benefit. The Agristack Farmer ID remains a mandatory eligibility requirement.
    June 25, 2026
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    Low-alcohol beverage tax reduction triggers political dispute over liquor policy, transparency, and alleged revenue loss.
    A political dispute arose over a budget proposal to reduce tax on low-alcohol beverages, with CPI(M) alleging that the proposal did not originate under the previous LDF government and that the earlier liquor policy only classified alcoholic beverages without deciding any tax reduction. CPI(M) sought clarification and withdrawal of the contrary statement, and also demanded withdrawal of the budget proposal, alleging that it was intended to benefit an alcohol manufacturing company and could cause revenue loss to the state exchequer.
    June 22, 2026
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    Supplementary budget demands expand funding for farm loan waiver, welfare schemes, utilities and infrastructure.
    Supplementary demands were tabled for the Maharashtra government, covering additional spending across unavoidable expenditure, programme-related spending and centrally supported schemes, with the net burden reduced after adjustments and recoveries. The largest proposed outlay was for the farm loan waiver scheme, alongside provisions for interest-free loans, electricity sector liabilities, urban development, employment missions, irrigation, welfare pensions, scholarship support and other public programmes.
    June 16, 2026
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    Fiscal space for new programmes remains minimal as Tamil Nadu's White Paper flags higher deficits, borrowing constraints, and understated liabilities.
    Tamil Nadu's White Paper on state finances says there is only minimal fiscal space for new programmes because projected deficits remain high, borrowing is constrained, and committed expenditure is understated. It notes over-projected tax revenue, omitted recurring liabilities, and limited borrowing headroom, leading to a much larger expected revenue deficit and fiscal deficit than budgeted. The paper also highlights worsening debt, interest burden, revenue weakness, and the need for sustained revenue mobilisation, expenditure control, debt management, and clean governance.
    April 18, 2026
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    Budget session ends with passage of key bills, defeat of women's reservation amendment, and adjournment sine die.
    Lok Sabha was adjourned sine die at the close of the Budget session after passage of the Union Budget, Demands for Grants, the Finance Bill 2026-27 and the Appropriation Bill, completing the budgetary exercise in Parliament. Parliamentary business during the session included passage of several bills, reference of one bill to a parliamentary committee, non-takeup of another bill, and defeat of the Constitution (131st Amendment) Bill, 2026 on women's reservation through delimitation.
    April 13, 2026
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    Fiscal deficit reporting shows Telangana's budget gap widening, with receipts and own revenues lagging behind estimates.
    Telangana's fiscal position was reported to show a fiscal deficit of over Rs 77,000 crore at the end of February in the last financial year, exceeding the revised estimate of Rs 56,000 crore and amounting to 143 per cent of the budgeted estimate of Rs 54,000 crore. Total receipts up to February were placed at Rs 2.32 lakh crore against revised estimates of Rs 2.82 lakh crore, while the State's own revenues from tax and non-tax sources stood at Rs 1.39 lakh crore against revised estimates of Rs 2.04 lakh crore.
    March 30, 2026
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    Income-tax rate changes and procedural reforms reshape reassessment, penalties, tax credits, and indirect tax schedules in the finance bill.
    Finance Bill, 2026 gives effect to the Central Government's financial proposals for the financial year 2026-2027 and operates as the Finance Act, 2026 with specified commencement dates. It revises income-tax rates, surcharge structures and health and education cess, and makes extensive amendments to the Income-tax Act, 1961 and the Income-tax Act, 2025 covering reassessment, return filing, assessment timelines, interest, penalty, waiver, immunity, tax credits, deductions, and related procedural rules. The Bill also updates indirect tax provisions, including customs, customs tariff and GST-linked schedule entries, by substituting, inserting and omitting specified rates and classifications.
    March 25, 2026
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    Facilitative tax and customs reform measures in the Finance Bill 2026 aim to ease compliance, support MSMEs, and promote trade.
    The Finance Bill 2026 is described as a set of facilitative tax and customs measures centred on trust-based tax administration, ease of living, MSME support, trade facilitation and customs reform. The measures highlighted include lower tax collected at source on certain foreign remittances and overseas tour packages, customs duty exemption on critical drugs, duty-free import treatment for medicines and personal use articles, permission to file updated income-tax returns after reassessment proceedings begin, and a foreign asset disclosure scheme for small taxpayers. The Bill also seeks to reduce compliance burden and dispute potential through customs rationalisation and facilitation-first enforcement.
    March 25, 2026
    Show AI Summary
    Finance Bill 2026 advances budgetary approval as Lok Sabha passes the measure with government amendments.
    Lok Sabha passed the Finance Bill 2026 with 32 government amendments, completing its role in the Budgetary approval process for 2026-27 and sending the Bill to the Rajya Sabha for further consideration. The Budget framework for 2026-27 provides for substantial expenditure and capital outlay, along with projected gross tax revenue, gross borrowing, and a lower fiscal deficit than the current fiscal year.
    March 24, 2026
    Show AI Summary
    Green budget drives welfare schemes, electric mobility, disaster readiness and sectoral infrastructure spending across Delhi.
    Delhi's FY27 budget sets out a broad fiscal and welfare programme with major allocations for environmental protection, education, health, transport, urban development, social welfare and water supply. It introduces measures such as free diagnostic tests for newborn babies, bicycles for girl students, free LPG cylinders for ration card-holding families on Holi and Diwali, the Mahila Samriddhi Yojna, electric auto-rickshaw permits for women and transgender persons, and expanded Ayushman Bharat Health coverage. It also provides for electric buses, a semiconductor policy, disaster management infrastructure, firefighting upgrades and water and sewage projects.
    March 22, 2026
    Show AI Summary
    Rural economy support and targeted welfare measures shape the Himachal Budget, with higher support prices and fiscal restraint steps.
    The Budget for 2026-27 emphasised rural economy support, welfare-linked subsidies, and sector-specific price interventions. It proposed free electricity for identified poor families, monthly assistance for eligible women, housing support for poor households, higher support prices for crops, milk and fish, and reduced royalty on fish caught from reservoirs. The Budget also provided for forest-based livelihood measures, plantation-linked employment, eco-tourism development, and targeted support for shepherd communities, alongside temporary salary deferral measures to address fiscal stress.
    March 21, 2026
    Show AI Summary
    Discontinuation of Revenue Deficit Grant increases fiscal pressure; state enacts salary deferments and targeted welfare measures in budget.
    The budget responds to discontinuation of the Revenue Deficit Grant by reducing overall expenditure and imposing temporary salary deferments for listed officeholders and senior officials for six months, while allocating funds to complete pending works. It shifts subsidies to targeted welfare-free electricity for identified low income households, monthly cash transfers to eligible women, housing for selected poor families-and specifies sectoral measures including increased procurement prices for milk, a minimum support price for fish with reduced royalty, formation of a Kisan Aayog and a Women's Tourism Fund, and allocations for eco tourism and forest plantation.
    March 16, 2026
    Show AI Summary
    Dearness allowance increase raises state allowance level effective April for government employees and pensioners with fiscal implications.
    Tripura raised state dearness allowance to 41 per cent for government employees and pensioners, effective April 1, covering 1,02,563 regular employees and 81,019 pensioners, with an estimated additional recurring annual cost of about Rs 500 crore; the move aims to narrow the gap with central DA levels and was announced by the Chief Minister immediately after the finance minister's budget speech.
    March 13, 2026
    Show AI Summary
    Economic Stabilization Fund to provide fiscal headroom for unanticipated crises and preserve the year's fiscal deficit within revised estimates.
    The government proposes an Economic Stabilization Fund established via inter-account transfers in the second batch of supplementary demands for grants to create fiscal headroom for unanticipated crises and supply-chain disruptions; the fund is to be financed by a mix of net cash outgo and savings, and the additional expenditure is stated not to alter the fiscal deficit relative to the Revised Estimates.
    March 13, 2026
    Show AI Summary
    Supplementary demands approval permits additional government expenditure while keeping the fiscal deficit within revised estimates.
    Passage of the second batch of supplementary demands for grants authorises additional net cash expenditure for the current fiscal year by increasing gross authorised outlays while offsetting part of that increase through estimated additional receipts, yielding a stated net additional cash requirement. The government states the additional authorised spending will be managed within the fiscal deficit projected in the Revised Estimates and does not raise total expenditure above the original Budget Estimates.
    March 13, 2026
    Show AI Summary
    Economic Stabilisation Fund created to provide fiscal headroom and buffer for global shocks; supplementary spending approved.
    An Economic Stabilisation Fund of one lakh crore is proposed as a contingency buffer to provide fiscal headroom and absorb unforeseen global shocks; its allocation is included in the second batch of supplementary demands for grants alongside additional spending on fertiliser subsidies, PMGKAY, defence and other heads. The Finance Minister affirmed that the fiscal deficit for 2025-26 will remain within the Revised Estimates and that the supplementary does not increase total expenditure beyond the Budget Estimates.
    March 12, 2026
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    Economic Stabilisation Fund seeks parliamentary approval as a fiscal reserve to shield the economy against future shocks.
    The government has tabled a second batch of Supplementary Demands for Grants for 2025-26 requesting parliamentary approval to create an Economic Stabilisation Fund as a reserve for future shocks and to provide additional allocations for fertiliser and food subsidies and defence expenditure, with debate reflecting both support for fiscal preparedness and objections on transparency and social impact.

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      Lok Sabha adjourned sine die

      April 18, 2026

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      New Delhi, Apr 18 (PTI) The Lok Sabha was adjourned sine die on Saturday, drawing curtains on a stormy Budget session that saw the defeat of a crucial bill to implement 33 per cent quota for women in legislatures by increasing the strength of the Lower House to 816 through a delimitation exercise.

      The session, which began on January 28, saw the passage of the Union Budget and Demands for Grants.

      As soon as the House met at 11 am, Speaker Om Birla read out his concluding remarks, following which he adjourned the House sine die (for an indefinite period).

      The session concluded with a rendition of 'Vande Mataram'. In a first, all six stanzas of the national song were played in the House. The government has mandated singing of all six stanzas of 'Vande Mataram' at official functions, public events and in school assemblies.

      In a major setback to the government, the Constitution (131st Amendment) Bill to implement 33 per cent reservation for women in legislatures in 2029 and increase the number of Lok Sabha seats to 816 was defeated on Friday, with the ruling NDA asserting that the struggle to give the rights to women would continue.

      While 298 members voted in support of the Bill in the Lok Sabha, 230 MPs voted against it. Out of 528 members who voted, the Bill required 352 votes for a two-thirds majority.

      This is the first Bill of the Modi government to be defeated in Parliament.

      According to the Bill, Lok Sabha seats were to be increased to 816 from the current 543 to "operationalise" the women's reservation law before the 2029 parliamentary polls, following a delimitation exercise based on the 2011 Census.

      Seats were also to be increased in state and Union territory assemblies to accommodate 33 per cent reservation for women.

      The session, which was to conclude on April 2, was extended by three days from April 16 to discuss the crucial bills.

      In his concluding remarks, Birla said 31 sittings were held during the session that lasted around 151 hours and 42 minutes. The productivity of the House during the session was 93 per cent.

      The second half of the Budget session, which began on March 9, saw the passage of some key legislations despite opposition uproar.

      The second part of the session saw the passage of the Finance Bill 2026-27 and the Demands for Grants for various ministries, apart from the Appropriation Bill, thus completing the budgetary exercise in Parliament.

      Finance Minister Nirmala Sitharaman replied to the discussion on the Finance Bill in both the Houses and answered queries raised by the members.

      The session started in the shadow of the West Asia crisis after the US and Israel attacked Iran on February 28.

      The opposition demanded a discussion on the issue. Prime Minister Narendra Modi, External Affairs Minister S Jaishankar and Petroleum and Natural Gas Minister Hardeep Singh Puri gave statements on the West Asia conflict and its impact on India.

      The opposition protested, claiming that its queries were not answered. It also staged several protests both inside and outside Parliament on alleged shortage of oil and LPG in the country, while the government accused it of trying to spread rumours to create unrest among people.

      The opposition walked out during the passage of crucial bills, claiming that they were dissatisfied with the government's response.

      There was also an opposition uproar on the Central Armed Police Forces (General Administration) Bill. It demanded that the Bill be sent to a parliamentary panel for further scrutiny as it went against a Supreme Court ruling restricting the number of IPS officers in the central armed forces.

      The legislation seeks to create a unified legal framework governing personnel across different Central Armed Police Forces (CAPFs), replacing the current patchwork of separate service-rule regimes for the five central forces.

      The Andhra Pradesh Reorganisation (Amendment) Bill, 2026, saw Parliament give its nod to Amaravati as the new capital of Andhra Pradesh after amending the original Act of 2014.

      The Transgender Persons (Protection of Rights) Amendment Bill, 2026, sought to amend a law on the protection and rights of transgender persons that proposes excluding social orientations from the ambit of the statute. The Bill was passed by Parliament, even as opposition members demanded that it be sent to a select committee.

      The legislation also provides for graded punishment based on the gravity of harm inflicted on such people.

      The Foreign Contribution (Regulation) Amendment Bill, 2026, was not taken up by the government during the session, following strong objections from the opposition. The Corporate Laws (Amendment) Bill, 2026, was sent to the parliamentary committee for further scrutiny.

      The session also saw the suspension of eight opposition MPs being revoked, after the Lok Sabha passed a motion in this regard. They were suspended during the first part of the Budget session for creating a ruckus in the Lok Sabha over Leader of Opposition Rahul Gandhi allegedly not being allowed to speak in the House. PTI NAB DIV DIV

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