Watch the video to know why Finance Bills are introduced each year.
The government's tax decisions cannot be arbitrary and they need Parliament approval as all proposals made in the Union Budget need legislative backing. For example, if the finance minister proposes to increase or decrease taxes, it needs to be approved by the Upper and Lower houses of parliament.
Here's Moneycontrol Deputy Executive Editor Gaurav Choudhury, who will help you understand why Finance Bills are introduced each year.Click here for everything you need to know about Budget 2019.The Great Diwali Discount!
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