Parliament approves Modi govt's FY20 Budget

Parliament on Tuesday gave its approval to Modi-2.0 government's maiden budget with Finance Minister Nirmala Sitharaman saying tax proposals aim at redistribution of funds to bring more equitable development. The Appropriation (No 2) Bill, 2019 and the Finance (No 2) Bill, 2019 -- cleared by Lok Sabha last week -- were returned by the Rajya Sabha on Tuesday after voice vote.

Replying to a four-hour debate on the two bills, Sitharaman justified raising tax on petrol and diesel by Rs 2 per litre each saying inflation was at rock bottom and the move would not add any significant burden on prices. Almost the entire Opposition boycotted the debate, demanding that Prime Minister Narendra Modi should make a statement on US President Donlad Trump's claim of him seeking mediation on Kashmir issue.