Government Unveils New Economic Reforms for Winter Session

The government plans to introduce nine economic bills, including amendments to Insurance and Excise Laws, during the upcoming Winter Session of Parliament. Notable proposals include raising the FDI limit in insurance to 100% and introducing new taxes on sin goods to support national security and public health funding.

The government has prepared an ambitious agenda, listing nine significant economic bills for the Winter Session of Parliament, commencing Monday. Central to these is an amendment to Insurance Laws, aiming to increase the Foreign Direct Investment (FDI) cap to 100% from the current 74%.

Finance Minister Nirmala Sitharaman will also introduce bills to levy taxes and cess on sin goods, such as tobacco and pan masala, designed to replace the existing GST compensation cess. The revenue generated would bolster national security and public health initiatives.

Additional legislative items include a unified Securities Market Code and amendments to several laws for simplifying the business landscape. The session is set to run from December 1 to December 19, 2025.

(With inputs from agencies.)