IBC Amendment Bill in 2nd half of Budget session: FM
New Delhi: Finance Minister Nirmala Sitharaman on Monday said the government intends to introduce the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 in the second half of the Budget session beginning March 9 as the parliamentary committee has already submitted its report.
The proposed amendments to insolvency law would help further enhancement in the timelines and effectiveness of proceedings as well as alignment of India's insolvency regime more closely with the global best practices. The parliamentary committee has submitted its report as far as proposed legislation with respect to Insolvency and Bankruptcy Code (IBC) is concerned, she said during an interaction with the media a day after presenting Budget 2026-27 in the Lok Sabha.
"I expect, subject to conditions, to table the Insolvency and Bankruptcy Code (Amendment) Bill in the second half of the Budget session starting March 9 incorporating suggestions of the committee," the Finance Minister, who also holds the Corporate Affairs Ministry portfolio, said. This is going to be the seventh amendment to the IBC Act implemented in 2016. So far, it has undergone six legislative interventions since its enactment and the last amendment was in 2021.
Chief Economic Advisor V. Anantha Nageswaran said on Monday that the increase in Securities Transaction Tax on derivatives trading announced in the Union Budget 2026-27 is aimed at securing household savings from highly speculative bets rather than generating revenue for the government.
"The purpose (of STT hike) is not revenue generation... the purpose is to ensure hard-earned savings are used to maximise wealth in households. The SEBI has pointed out how people lose money through F&O," the CEA told journalists.
The Union Budget 2026-27, presented by Finance Minister Nirmala Sitharaman on Sunday, proposed raising STT on futures to 0.05 per cent from the present 0.02 per cent and on options premium and exercise of options to be raised to 0.15 per cent from the present rate of 0.1 per cent and 0.125 per cent,respectively.
