✎ Appropriation Bill 2026 authorizes excess expenditure from 2022-23, debated in Parliament with Opposition demanding accountability on police action.

Relevance for Banking, SSC & RBI Grade B exams: Polity

The Rajya Sabha’s return of the **Appropriation (No.3) Bill, 2026** to the Lok Sabha after consideration underscores the constitutional process of financial governance, where the Upper House reviews and approves supplementary demands for grants. This bill, which authorizes excess expenditure from the Consolidated Fund of India for the financial year ending March 31, 2023, highlights the **Parliament’s oversight role in budgetary allocations**—a critical topic for banking and SSC aspirants, as it reflects the **legislative control over public finance**, a key aspect of the Indian Polity syllabus. The debate also saw Finance Minister Nirmala Sitharaman addressing concerns about Jammu & Kashmir’s post-Article 370 financial restructuring, which is relevant for **RBI Grade B exams**, where candidates must understand the **Centre’s fiscal policies and fiscal federalism** in Union Territories.

The session also witnessed the **passage of the Taxation and Other Laws (Amendment) Bill, 2026**, which amends key financial legislations like the **Payment and Settlement Systems Act, 2007**, and the **Income-tax Act, 2025**. This is pertinent for **Banking PO and IBPS aspirants**, as it touches upon **digital payment regulations and tax compliance**, areas frequently tested in banking recruitment exams. Additionally, the Opposition’s demand for a statement from the Home Minister on police action during student protests ties into **constitutional provisions on parliamentary accountability**, a recurring theme in **SSC CGL and RBI Grade B exams**, where questions on **Parliamentary procedures and financial accountability** are common.

Source: The Hindu

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