Budgetary Plans & Corporate Reform: Key Bills to be Introduced

Finance Bill, Corporate Laws Amendment Bill Introduced in Parliament​

Finance Minister Nirmala Sitharaman is scheduled to table the Finance Bill, 2026, and the Corporate Laws (Amendment) Bill, 2026, in Parliament on Monday.

Finance Bill 2026​

The Finance Bill, 2026, aims to implement the financial proposals of the Central Government for the 2026-2027 fiscal year. The Finance Minister will move for the bill's consideration and seek its passage. This will mark a key step in implementing the government's budgetary plans and economic policies for the upcoming year.

Corporate Laws (Amendment) Bill 2026​

The Corporate Laws (Amendment) Bill, 2026, seeks changes to the Limited Liability Partnership Act, 2008, and the Companies Act, 2013. The Companies Act governs incorporation, corporate governance, disclosures, and dissolution, while the LLP Act offers a more flexible framework with limited liability for partners.

Insolvency and Bankruptcy Code Amendments​

The Union Cabinet gave its approval for amendments to the Insolvency and Bankruptcy Code on March 10, clearing the way to introduce the IBC Amendment Bill. The proposed legislative updates are based on the recommendations of a Select Parliamentary Committee chaired by Bharatiya Janata Party MP Baijayant Panda. The committee submitted its comprehensive report in December 2025 with a central focus on speeding up the corporate resolution process.

The committee has recommended stricter timelines for the disposal of bankruptcy cases and suggested granting enhanced powers to the Committee of Creditors (CoC). The proposed amendments also address gaps in the existing code by introducing a dedicated mechanism for cross-border insolvency to better manage distressed companies with international assets and foreign creditors.