Appropriation Bill 2023 passed by Lok Sabha, without discussion: Know all about the Bill and its importance - Explained
An Appropriation Bill authorizes the government to withdraw funds from the Consolidated Fund of India for use during the Financial Year.
Lok Sabha, or the Lower House of Parliament, has cleared the Appropriation Bill (No. 2), 2023 without discussion on March 21, amid protests by the Opposition benches. The bill was taken up for consideration and passing in Lok Sabha after the session post 2 pm on Tuesday.
What is Appropriation Bill?
An Appropriation Bill authorizes the government to withdraw funds from the Consolidated Fund of India for use during the Financial Year. So, the bill empowers the government to withdraw funds from the Consolidated Fund of India for meeting the expenditure during the Financial Year which may include the expenditure related to the repayment of public debts, and expenses incurred by the judiciary. The Appropriation Bill (No. 2), 2023 will thus authorize payment and appropriation of certain further sums from and out of the Consolidated Fund of India for the services of the Financial Year 2022-2023.
The functioning of both Houses of Parliament in the second half of the Budget Session has been repeatedly disrupted by protests both by the Treasury and Opposition benches. There have been repeated protests in both Houses of Parliament regarding the issues surrounding Adani Enterprises.
The sessions have also been adjourned several times in the recent past.
The sessions in both Houses got adjourned for the day on March 20 after there were protests regarding Rahul Gandhi’s comment on democracy and Adani issues.
During his recent visit to the United Kingdom, Congress leader Rahul Gandhi repeatedly spoke about what he perceives as the collapse of democracy in the country and virtually beseeched western democracies to intervene in India’s internal affairs. While the Treasury benches have raised the issue of Rahul Gandhi’s comments on democracy, made during his recent visit abroad, the Opposition parties are seeking the constitution of a Joint Parliamentary Committee in the Adani matter.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI 1777-day FD vs HDFC Bank 55-month FD: What will be maturity amounts for general and senior citizens on Rs 6 lakh and Rs 12 lakh investments?
SBI Guaranteed Return Scheme: Know what State Bank of India is offering to senior citizens and others on 1-yr, 3-yr and 5-yr fixed deposits
50:30:20 Investment Strategy: Can you build Rs 3.9 crore retirement corpus with salary of Rs 30,000?
04:05 PM IST