Live updates from Parliament’s Budget Session: Finance Minister Nirmala Sitharaman will introduce the Finance Bill in the Rajya Sabha; Home Minister Amit Shah will introduce the Criminal Procedure (Identification) Bill, 2022 in the Lok Sabha.

Rajya Sabha adjourned until 12 p.m. (IST) on March 28, 2022.

Following member protests after the Chair refused to allow notices on the fuel price hike, the statewide strike announced by trade unions, and other matters, the Upper House has been postponed till 12 p.m.

In the meantime, the Lok Sabha is holding Question Hour.

The Rajya Sabha convenes at 11:05 IST on March 28, 2022.

The Rajya Sabha resumed its Budget session at 11 a.m. on Monday. Keep an eye out!

10:40 (IST) 28 March 2022 Finance Bill: Crypto losses cannot be deducted from gains.

Finance Minister Nirmala Sitharaman proposed 39 official modifications to the Finance Bill 2022, which the Lok Sabha accepted on Friday. The budgetary process for the following fiscal year is now complete.

Clarification on taxation aspects for cryptocurrencies or virtual digital assets (VDAs) as well as surcharge and cess deductions are among the key revisions to the Finance Bill. In the proposed modifications, losses from the transfer of virtual digital assets would not be allowed to be offset against income from the transfer of another VDA.

In response to a question about the Finance Bill, Sitharaman stated that India was perhaps the only country that did not impose new taxes, although other countries did multiplier effect would be maximum,’ she said. The Budget increased capital expenditure by 35.4 percent to Rs 7.5 lakh crore for the coming fiscal year in the hopes of reviving investment-led demand.

10:23 (IST) 28 Mar 2022 An AAP MP has demanded that ‘The Kashmir Files’ be made available on YouTube, according to DD.

Sanjay Singh, an AAP MP, has issued a Zero Hour notice in the Rajya Sabha, requesting that the video “The Kashmir Files” be made available on YouTube and Doordarshan.

This comes after AAP leader and Delhi CM Arvind Kejriwal declared in a news conference last week: ‘The BJP has been at the Centre for 13 years in the previous 20-25 years since the Kashmiri Pandits’ departure.’ The BJP has been in power at the centre for the past eight years.Is there even one household in Kashmir that has been rehabilitated? Nobody. The BJP has turned the issue into a political football. They now want to make a movie about their suffering in order to make millions of dollars. There has been a profit of almost Rs 200 crores.

We have two demands: upload the film to YouTube so that everyone can see it, and all proceeds should go toward the rehabilitation of Kashmiri Pandits. Second, concrete actions must be done to allow Kashmiri Pandits to return to their homeland.’

09:44 (IST) 28 Mar 2022 A Congress MP issues a notice of adjournment due to a delay in the release of funding to Tamil Nadu.

Manickam Tagore, a Congress MP, has requested that the Lok Sabha be adjourned due to a “delay in the amount of Rs 28,000 crores.” under various categories and GST to Tamil Nadu, and (to) direct the (Union) Government to release the amount,” ANI reported.

09:33 (IST) 28 Mar 2022 The Congress and the DMK have requested a meeting to discuss the price hike.

In the Lok Sabha, Congress MP Kodikunnil Suresh moved an adjournment motion on the subjects of drug price hikes, inflation, and fuel taxation.

Meanwhile, ANI reported that DMK MP Tiruchi Siva filed a Suspension of Business notice in the Rajya Sabha under rule 267 due to the increase in gasoline and LPG prices.

28 Mar 2022 09:32 (IST)
The opposition wants that the nationwide bandh be discussed.

According to ANI, CPI MP Binoy Viswam and CPI(M) MP Bikashranjan Bhattacharyya issued Suspension of Business notices in the Rajya Sabha on Monday to discuss the “two-day nationwide strike called by workers across the country to protest against the Central Government’s corporatisation and privatisation policies.”

Following a short weekend break, Parliament’s Budget Session will resume at 11 a.m. today.

Stay tuned for more information as it becomes available.

Parliamentarians in the Rajya Sabha during the second portion of Parliament’s Budget Session on Friday, March 25, 2022, in New Delhi. (PTI)

The Delhi Municipal Corporation Amendment Bill, 2022, was introduced in the Lok Sabha on Friday, drawing sharp criticism from Opposition MPs. The law aims to bring the three municipal corporations in the Capital together and give the Centre entire control of the civic body.

Minister of State Nityanand Rai introduced the bill. MP NK Premachandran of the Revolutionary Socialist Party (RSP) said it was against federalism, a key aspect of the Constitution.

‘How about the members of the Delhi Legislative Assembly’s will? That is why I am arguing that it is fundamentally opposed to cooperative federalism, which is a feature of the Constitution,’ he said.

A legislative standing committee has asked the newly constituted Cooperation Ministry, headed by Amit Shah, to ‘exercise extreme care’ in chalking out activities and programmes at the national level, pointing out that ‘Cooperative Societies’ is a State issue under the Constitution level so that federal features of the country are not ‘impinged upon’.

This was revealed in a report filed in the Lok Sabha on Thursday by the Standing Committee on Agriculture, Animal Husbandry, and Food Processing, which is chaired by BJP member P C Gaddigoudar.

The committee’s recommendations are crucial because the ministry, which was established in July 2021, is currently working on a new national cooperation policy. The Multi State Cooperative Societies (Amendment) Bill, 2022, has been developed by the ministry to change the Multi State Cooperative Societies Act, 2002, and it is expected to be approved by the Union Cabinet soon.

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