India’s Finance Minister, Nirmala Sitharaman, is expected to present the Taxation and Other Laws (Amendment) Bill, 2026 in the Lok Sabha on Tuesday, August 4, 2026. The bill aims to update and improve several important laws related to taxation, financial systems, and government policies.
The proposed bill includes changes to the Payment and Settlement Systems Act, which regulates how money is transferred through banks and digital payment systems. It also proposes amendments to the Income-tax Act, which sets the rules for income tax in India, and the Finance Act, which covers the government’s financial and taxation policies. The government says these changes are intended to make the laws more effective and better suited to current economic needs.
On Monday, August 3, 2026, the Lok Sabha also passed a separate bill to increase the number of judges in the Supreme Court of India. The bill was approved with very little discussion because opposition members continued their protests inside Parliament.
The opposition’s protests were linked to police action against student protesters at Jantar Mantar in New Delhi and reports of thefts at the Ram Temple in Ayodhya. Due to these protests, normal discussions in the House were affected.
Meanwhile, the Rajya Sabha passed the Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026. The bill is expected to strengthen support for micro, small, and medium-sized businesses by improving existing policies and making it easier for these enterprises to grow.
The current Parliament session has focused on several important bills related to taxation, the judiciary, and business development. The government says these measures are aimed at improving the country’s economy, strengthening institutions, and supporting businesses. However, political disagreements and opposition protests continue to affect the proceedings in both Houses of Parliament.