Lok Sabha Approves Rs 140 Lakh Crore Expenditure for 2024-25

On 5th August 2024, the Lok Sabha approved approximately Rs 140 lakh crore in expenditure demands from various ministries, marking the completion of two-thirds of the legislative process required for the full Budget of 2024–25.

Key Points

Budget Approval: The lower house authorized demands for grants and the Appropriation (No 2) Bill 2024, enabling the government to utilize specific sums from the Consolidated Fund of India for the 2024-25 fiscal year.
Guillotine Procedure: A guillotine was applied following discussions on grants for four key ministries—Railways, Education, Health, and Fisheries—to expedite the approval process.
Next Steps: The Lok Sabha will now turn its attention to the Finance Bill (No 2), 2024, which includes the tax proposals outlined in Finance Minister Nirmala Sitharaman’s Budget.
Rajya Sabha Discussions: Simultaneously, the Rajya Sabha is considering demands for grants for four additional ministries—Agriculture, New and Renewable Energy, Cooperation, Housing, and Urban Affairs—and will also review the Finance Bill. The Rajya Sabha can only return such bills to the Lok Sabha.
Completion of Budget Process: The legislative process for the Budget will be finalized upon the Lok Sabha’s passage of the Finance Bill (No 2), 2024.
Guillotine Explained: In legislative terms, a guillotine refers to the procedural mechanism used to expedite the passage of financial business by grouping and fast-tracking discussions, distinct from its historical use.