Lok Sabha rejects 5 Rajya Sabha amendments, passes Finance Bill

New Delhi, March 30 : The Lok Sabha on Thursday rejected the five amendments suggested for the Finance Bill, 2017-18, by the Rajya Sabha and passed the bill.
The Lok Sabha had earlier passed the bill, which then went to the Upper House, which suggested these changes.
The bill, as passed by the Lok Sabha, does away with the provision to reveal identities of the benefactor company (donors), or the beneficiary political parties with regard to political fundings.  Also, the Bill does away with the extant ceiling on the amount donated. With regard to electoral bond, the names of companies are not to be disclosed. With regard to changes in the IT Act, the Rajya Sabha was against the provision of the Bill which exempts the tax authorities from giving reasons for conducting searches and seizures on targeted persons.
Finance Minister Arun Jaitley said he could not accept the amendments suggested by the Rajya Sabha.
Replying to a short debate in the Lok Sabha, the Minister said: “I can’t accept the five amendments suggested by the Rajya Sabha to the Finance Bill.”
Embarrassing the government, the Rajya Sabha on Wednesday had suggested these amendments and returned the Bill to the Lok Sabha.