Finance Bill 2025 Passes Lok Sabha with 35 Amendments, Abolishes 6% Digital Tax on Online Advertisements

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....The Lok Sabha passed the Finance Bill 2025 with 35 government amendments, including the abolition of a 6% digital tax on online advertisements. This completes the lower house's portion of the budgetary approval process, with the bill now proceeding to the Rajya Sabha for consideration. The Union Budget 2025-26 establishes a total expenditure of Rs 50.65 lakh crore (7.4% increase), capital expenditure of Rs 11.22 lakh crore, gross tax revenue collection of Rs 42.70 lakh crore, and projects a fiscal deficit of 4.4% (down from 4.8%). The budget increases allocations for Centrally Sponsored Schemes to Rs 5,41,850.21 crore and central sector schemes to Rs 16.29 lakh crore, with total resources transferred to states amounting to Rs 25,01,284 crore.....