New Delhi: The Lok Sabha witnessed a heated debate on the Finance Bill 2025 Monday, with Opposition leaders Shashi Tharoor and Mahua Moitra launching sharp attacks on the government’s fiscal policies. They accused the administration of systemic economic mismanagement and favouritism towards large corporate entities. In response, BJP MP Nishikant Dubey dismissed these allegations, arguing that the Congress party habitually opposes without acknowledging substantial policy progress.
As proceedings on the Finance Bill commenced around 2:30 pm, senior Congress leaders, including Gaurav Gogoi and K.C. Venugopal, voiced their displeasure over the absence of Union Finance Minister Nirmala Sitharaman in the House. Sitharaman later joined the debate during Congress MP Tharoor’s address.
Initiating the discussion, Tharoor described the Finance Bill as a “classic case of patchwork solutions”, arguing that the government’s fiscal management suffers from deep structural issues. Drawing an analogy, he remarked, “The Finance Minister’s budget speech reminded me of a garage mechanic who said, ‘I couldn’t fix your brakes, so I made the horn louder.’ Looking at the Finance Bill, she now seems to be saying, ‘I couldn’t repair the roof, but I brought you an umbrella.’”
The Finance Bill, a crucial component of the Union Budget, outlines the legal amendments necessary to implement the government’s financial proposals, including modifications to taxation. It is passed by Parliament to bring these proposals into effect. This year’s Finance Bill was submitted 1 February and includes several changes to the Goods and Services Tax (GST) regime, aiming to simplify tax compliance, streamline tax treatment for specific transactions, and strengthen regulatory oversight.
Tharoor particularly emphasised what he termed financial injustice towards South Indian states. “The five southern states—Andhra Pradesh, Tamil Nadu, Kerala, Karnataka, and Telangana—are among India’s strongest economic engines, contributing over a quarter of direct taxes and 28.5 percent of GST. Yet, they receive only 15 percent of the Centre’s tax pool. How is this justifiable?” he questioned.
He also criticised India’s GST structure, calling it one of the most convoluted in the world. “Instead of the ‘good and simple tax’ that was promised, we have multiple confusing GST rates, including the world’s highest at 28 percent, yet tax revenues remain at just 18 percent of GDP,” he said, comparing it to China’s 13 percent GST cap with a 20 percent GDP collection.
Countering the criticism, BJP MP Nishikant Dubey accused the Opposition of focusing solely on flaws while ignoring broader economic progress. “The Budget does not offer a magic solution to all problems—it is the result of meticulous planning aimed at empowering workers. Congress has a habit of opposing everything without recognising the positives,” he stated.
Dubey underscored India’s economic growth under the BJP government, pointing out that the economy had expanded from $2 trillion to $4.5 trillion over the past decade.
Intervening in the debate, Venugopal alleged that the BJP government had written off corporate loans worth Rs 18 lakh crore, reinforcing the Opposition’s accusation of economic favouritism.
Sitharaman addressed concerns regarding corporate loan write-offs, clarifying that a write-off does not equate to a waiver. “The government is actively pursuing the recovery of these loans,” she assured.
Trinamool Congress MP Moitra echoed similar concerns, accusing the government of favouring large conglomerates while overburdening small businesses and workers. “All tax rules are designed for Vishwakarma’s India, not Kuber’s India,” she remarked, alleging that certain business groups received preferential treatment. She further accused the government of “tax terrorism”, impacting stock market investors, corporate entities, and small business owners alike.
Moitra also raised concerns about the alleged inflation of official footfall figures at the recently held Maha Kumbh, questioning the credibility of government data.
Echoing the same concerns, Moitra’s colleague and TMC MP Sougata Roy said, “We need a Manmohan Singh and not Nirmala Sitharaman to manage India’s critical situation.”
Shiromani Akali Dal MP Harsimrat Kaur Badal said, “Punjab was not considered in the budget.” She added that there were no provisions to facilitate Minimum Support Prices (MSPs) for farmers and pushed for unilateral zero tariffs on agricultural products. The Bathinda MP pointed out that the Finance Bill did not address the issue of recent mass layoffs in the IT sector and other industries, as well as concerns of Micro, Small and Medium Enterprises (MSMEs), which are known to generate employment.
Defending the government’s reforms, BJP MP Anurag Thakur said the Centre’s reforms are not aimed at the short term but rather the long term. “Though the Opposition pretends to carry a copy of the Constitution written by Dr B.R. Ambedkar, they distorted democracy during the Emergency.”
The Opposition must not think of turning Gandhiji and Sardar Patel’s country into Jinnah’s, he added.
(Edited by Radifah Kabir)
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