Finance Bill to be passed by Parliament before March 31: Finance Minister Arun Jaitley
Arun Jaitley. Picture Courtesy: PTI
Union Finance Minister Arun Jaitley on Tuesday announced that this year’s Finance Bill will be passed in the Parliament before March 31, thereby allowing ministries to avail funds from April 1.
“This would help the ministries to remain in the stage of readiness as funds would be available with effect from April 1,” he said.
Jaitley made the announcement while addressing the financial advisors of various ministers. The Finance Minister also released the revised general financial rules during the address.
The Finance Bill is a secret bill introduced in the Lok Sabha, after the presentation of the annual budget, to implement the financial proposals made by the Government of India in the Union Budget for the following financial year.
Jaitley also released the revised General Financial Rules (GFR) 2017.
FM @arunjaitley said that Finance Bill this year would be passed before 31st March, 2017 by Parliament.
— Ministry of Finance (@FinMinIndia) March 7, 2017
FM @arunjaitley This would help the ministries to remain in stage of readiness as funds would be available w.e.f. 1st April, 2017.
— Ministry of Finance (@FinMinIndia) March 7, 2017
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