Finance Bill passed by Lok Sabha

The Lok Sabha on Friday passed the Finance Bill, 2014 by a voice vote, paving the way for the legislative proposals, notably on direct and indirect taxes outlined in the Budget, to become effective formally, once the bill is cleared by the Rajya Sabha. The bill, which is primarily the legislative proposals of the Budget for this fiscal, was passed after Finance Minister Arun Jaitley gave his reply to the debate on the Budget, reiterating that the measures outlined in the Budget will enhance economic activity and create more jobs.