Winning Bizness Desk
Mumbai. Finance Minister Nirmala Sitharaman presented the revised Finance Bill 2025 in the Lok Sabha, which has now been passed. The bill includes 25 amendments, including the removal of the 6% digital tax, commonly known as the Google Tax, on online advertisements. With this approval, the Lok Sabha has completed its process for the bill.
Final Step: Rajya Sabha Approval
If the revised Finance Bill 2025 also gets approval from the Rajya Sabha, it will become a law. The Union Budget for 2025-26 has proposed a total expenditure of ₹50.65 lakh crore, which is 7.4% higher than the current financial year.
Impact on Online Advertising
While presenting the proposal in Parliament, the Finance Minister announced the removal of the 6% equalization levy on online advertisements. She stated that the decision was made to eliminate uncertainties in the international economic scenario and to encourage digital businesses.
Budget Allocation for FY 2025-26
The proposed budget for FY 2025-26 includes an allocation of ₹5,41,850.21 crore for centrally sponsored schemes. In comparison, the allocation for the current financial year was ₹4,15,356.25 crore. The increased expenditure has been attributed to various economic factors.
Fiscal Deficit and GDP Projections
For the financial year 2025-26, the fiscal deficit is expected to be 4.4%, which remains unchanged from the current fiscal year. The Gross Domestic Product (GDP) for the upcoming financial year is estimated at ₹3,56,97,923 crore, reflecting a 10% increase compared to the current year.
Key Developments in the Finance Bill 2025
- Finance Minister's Proposal: Nirmala Sitharaman presented the revised Finance Bill 2025 in Lok Sabha.
- Lok Sabha Approval: The bill, which includes 25 amendments, was passed in Lok Sabha.
- Key Amendment: Removal of the 6% digital tax (Google Tax) on online advertisements.
- Next Step: The bill awaits approval from the Rajya Sabha.
- Budget Proposal: ₹50.65 lakh crore expenditure planned for FY 2025-26.
- Fiscal Deficit Projection: Expected to remain at 4.4% for FY 2025-26.
- GDP Growth Projection: Estimated at ₹3,56,97,923 crore, a 10% rise from the current fiscal year.
