The monsoon session of Parliament, scheduled to be held between July 21 and August 21, will take up a few economic Bills, including the Income Tax Bill, 2025 that seeks to simplify the provisions of the direct tax laws.
However, two widely watched pieces of legislation namely the Insurance (Amendment) Bill and Insolvency and Bankruptcy Code (IBC) Bill are conspicuously absent from the Bills listed for the session. The insurance Bill seeks to allow 100% foreign direct investment (FDI) and composite licensing, while the amendments to the IBC 2016 are designed to expedite the pace of resolution of stressed assets, and bring in a few new provisions like those for cross-border and group insolvency resolutions.
A parliamentary panel that examined the Income Tax Bill on Wednesday made 285 suggestions on the draft legislation. The Select Committee of the Lok Sabha to examine the Bill, chaired by BJP leader Baijayant Panda, adopted the report on the draft law, which will be presented to the House on Monday, the first day of the monsoon session, PTI reported.
The Mines and Minerals (Development and Regulation) Amendment Bill, 2025 that proposes to provide for the recovery of critical minerals, inclusion of contiguous area in a mining lease for mining of deep-seated minerals, and widening the scope of the National Mineral Exploration Trust is also listed for tabling in the session. The Taxation Laws (Amendment) Bill, 2025 and the Jan Vishwas (Amendment of Provisions) Bill, 2025 are also on the agenda.
The Jan Vishwas Act 2023 had decriminalised 183 central acts administered across 19 ministries/ departments, with a view to improving ease of doing business. The proposed amendments will further the process.
The Indian Ports Bill, 2025, Merchant Shipping Bill, 2024, Coastal Shipping Bill, 2024, Carriage of Goods by Sea Bill, 2024, Bills of Lading Bill, 2024 are listed for consideration and passing.
There will be a total of 21 sittings in the monsoon session. No sittings will be held between August 12 and August 18, 2025. Seven pending Bills have been listed for consideration and passing. Eight Bills have been listed for introduction, consideration and passing.
The bill to amend IBC is unlikely to be tabled in the upcoming session as consultations with stakeholders have not been completed. The ministry of corporate affairs has not yet prepared the final Bill.