Parliament Approves Budget 2026-27 Amid Rising Oil Prices
Parliament has officially approved the 2026-27 budget, with Finance Minister Nirmala Sitharaman asserting that a lockdown is not an option amid rising oil prices due to geopolitical tensions. The Rajya Sabha returned the Finance Bill unanimously, while discussions in both houses addressed various pressing issues, including the need for a law against forced conversions and the rising digital addiction among youth. MPs also raised concerns about the economic implications of upcoming elections on fuel prices. This article delves into the key discussions and decisions made during this significant parliamentary session.
| Mar 27, 2026, 18:35 IST
Parliament's Approval of the Budget
On Friday, Parliament granted approval for the 2026-27 budget, with Finance Minister Nirmala Sitharaman emphasizing that there is no room for a lockdown in India, especially in light of soaring international crude oil prices due to the conflict in West Asia. Following the Finance Minister's remarks, the Rajya Sabha unanimously returned the Finance Bill for 2026-27. The upper house also returned the supplementary demands for grants and the associated appropriation bill, which had already received approval from the Lok Sabha.
Discussion in the Lok Sabha
During the Lok Sabha session, Chemicals and Fertilizers Minister JP Nadda reassured that there is a sufficient stock of fertilizers in the country, dismissing any need for panic. He mentioned that he had discussions with state agriculture ministers on this topic the previous Thursday.
Additionally, the government introduced a bill aimed at decriminalizing minor offenses to enhance ease of doing business and life. Commerce and Industry Minister Jitin Prasada presented the Jan Vishwas (Amendment Provisions) Bill, 2026, incorporating recommendations from a parliamentary committee.
BJP MP Hema Malini urged the government in the Lok Sabha to develop Mathura as an international tourist destination, citing the increase in tourist arrivals in Vrindavan. She highlighted that the opening of the Jewar (Noida) international airport is expected to further boost this influx.
Moreover, BJP MP Nishikant Dubey called on the central government to revoke the Scheduled Tribe (ST) status of tribal individuals who convert to Christianity or Islam, suggesting that this should be addressed before delimitation in Jharkhand.
Proceedings in the Rajya Sabha
In the Rajya Sabha, BJP MP Sumer Singh Solanki demanded a stringent central law against forced conversions, stating that this issue poses a threat to national security and affects the cultural identity of tribal communities.
TMC MP Derek O'Brien raised concerns about the rising digital addiction among children and youth, claiming it leads to approximately 20,000 suicides annually. He urged the government to take immediate action to address this crisis.
Senior Congress MP Shakti Singh Gohil criticized the government for allegedly bowing to the U.S. and questioned how Indian farmers could compete. He remarked during the discussion on the Finance Bill that there was nothing new in the bill, just minor adjustments to figures.
Furthermore, a TMC MP claimed that the government is refraining from increasing petrol and diesel prices due to upcoming elections in five states, suggesting that price hikes will occur after April 29. He accused the government of patting itself on the back for reducing excise duties on these fuels.