Big reforms in 15 sittings: What Parliament passed this Winter Session

Insurance FDI was raised to 100%, nuclear energy laws were overhauled, and excise and GST-related amendments cleared as Parliament wrapped up its Winter Session.

Parliament on Friday wrapped up its Winter Session after passing key financial and reform-oriented legislation, including a law raising foreign direct investment in insurance to 100 percent and a Bill opening India’s nuclear sector to private participation under government oversight.

The session, which began on December 1, was adjourned sine die after 15 sittings. Ten Bills were introduced in the Lok Sabha, while eight Bills were passed by the two Houses.

Among the most significant measures was the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, which raises the FDI cap in insurance companies from 74 percent to 100 percent.

The government said the move aims to attract long-term foreign capital, enable technology transfer and expand insurance penetration and social security coverage.

Parliament also passed the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Bill, 2025, allowing private and joint venture participation in nuclear energy.

Replying to the debate, Science and Technology Minister Jitendra Singh said the Bill modernises India’s nuclear framework while retaining core safety and security controls under government oversight. He said private entities will not control sensitive nuclear material, and spent fuel management will remain with the government.

A key structural change is giving statutory backing to the Atomic Energy Regulatory Board, which has so far functioned through executive orders under the Atomic Energy Act, 1962.

Addressing concerns over nuclear liability, Singh said the Bill does not dilute compensation to victims. Operator liability has been rationalised through graded caps linked to reactor size, while compensation will flow through multiple layers, including operator liability, a proposed government-backed Nuclear Liability Fund, and international mechanisms under the Convention on Supplementary Compensation.

Supplier liability has been removed in line with global practice, though penal provisions and negligence clauses remain enforceable.

The two Houses also passed the Central Excise (Amendment) Bill, 2025, revising duties on tobacco products following the expiry of the GST compensation cess.

The Manipur Goods and Services Tax (Second Amendment) Bill, 2025 was cleared to implement GST Council decisions, including consolidation of rates into two main slabs of 5 percent and 18 percent in the state.

Parliament approved the Appropriation (No. 4) Bill, 2025, covering the first batch of Supplementary Demands for Grants for 2025–26.

Finance Minister Nirmala Sitharaman introduced the Securities Markets Code Bill, 2025 in the Lok Sabha. The Bill, which seeks to merge the SEBI Act, the Securities Contracts (Regulation) Act and the Depositories Act into a single framework, was referred to the departmental standing committee.