Economy
New Taxation Bill Clears Lok Sabha to Boost FDI and Electronics Manufacturing
NDTV1h
THE BRIEF
1
The Taxation Amendment Bill, passed by the Lok Sabha, aims to attract FDI by extending tax breaks for contract manufacturing until 2041.
2
The legislation introduces provisions for Merchant Discount Rates (MDR) on UPI transactions, signaling a shift in digital payment fee structures.
3
The bill is designed to enhance the 'Make in India' initiative, specifically targeting global electronics suppliers like Apple to expand local operations.