Lok Sabha passes Finance Bill, completes budgetary exercise

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The Lok Sabha on Friday approved the Finance Bill, thereby completing the budgetary exercise for fiscal year FY23.

The Bill was approved in the lower house by a voice vote, after 39 official amendments, moved by Union Finance Minister Nirmala Sitharaman, were accepted.

To sustain high growth rate, the Centre has earmarked a massive budgetary outlay of Rs 7.50 lakh crore for FY23.

In her Budget speech on February 1, 2022, Sitharaman proposed to increase the capital budget outlay by over 35 per cent year-on-year in FY23.

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