NEW DELHI: Both Houses of Parliament passed several important Bills on Tuesday amid sloganeering by opposition members over their demand for debate on Special Intensive Revision (SIR) in Bihar. The Rajya Sabha passed the National Anti-Doping (Amendment) Bill 2025, the National Sports Governance Bill, 2025, the Income Tax Bill, 2025 and the Taxation Laws (Amendment) Bill, 2025. The Lok Sabha passed the Mines and Minerals (Development and Regulation) Amendment Bill and the Indian Ports Bill, 2025.
In the Rajya Sabha, the Opposition walked out soon after the Bills were moved for onsideration and passage. The three Bills in this House had been passed in the lower House on Monday.
The Income Tax Bill will replace the Income Tax Act, 1961. Explaining the reasons for bringing the new income tax law, Finance Minister Nirmala Sitharaman said the new Bill aims to make the language simple and does not introduce any new rate.
Sitharaman lashed out at the Opposition for not participating in the discussion on essential bills like the income tax law. “I am shocked that the Opposition doesn’t want to participate,” she said.
Union Minister for Youth Affairs and Sports Mansukh Mandaviya, who piloted the sports Bill, said, “The passage of these Bills will usher in a new era in the country’s sports sector.” He said it is unfortunate that “those who talk about women, tribals and youth did not participate or give suggestions on these Bills”.
The Lok Sabha passed the Mines and Minerals Bill after a debate, with Union Minister for Coal and Mines G Kishan Reddy saying that every sector is dependent on critical minerals. The Bill seeks to amend the Mines and Minerals (Development and Regulation) Act, 1957 and to promote the extraction of deep-seated minerals.
However, Southern states, including Kerala, have staunchly opposed the Bill flagging the potential environmental and social impact of offshore mining, particularly on the state’s fishing communities and marine ecosystems.
Power corridor
Banks write off Rs 5.82l cr bad loans
Public Sector Banks (PSBs) have written off bad loans worth Rs 5.82 lakh crore over the past five financial years, Minister of State for Finance Pankaj Chaudhary told Rajya Sabha. In 2024–25 alone, write-offs stood at Rs 91,260 crore, down from Rs 1.15 lakh crore the previous year. Recoveries during this period totaled just Rs 1.65 lakh crore — around 28% of total write-offs. Chaudhary clarified that write-offs do not absolve borrowers of liability, and recovery efforts continue through courts, tribunals, and insolvency processes. Separately, over Rs 21.68 lakh crore has been disbursed under the Pradhan Mantri Mudra Yojana in five years.
No extra tariffs on pharma, electronics
The Government on Tuesday clarified that no additional US tariffs have been imposed on Indian exports in key sectors like pharmaceuticals and electronics. Minister of State for Commerce Jitin Prasada informed the Lok Sabha that while a 25% reciprocal tariff took effect on certain goods exported from India to the US from August 7, these do not cover pharma or electronics. An additional 25% ad valorem duty will apply on select items from August 27. Prasada said around 55% of India’s exports to the US are affected. Talks on a bilateral trade agreement continue, with the next round set for August 24.