Income-tax, MSME amendment Bills among key economic legislations listed for Parliament's Monsoon Session

New Delhi: The government has listed the Income-tax (Amendment) Bill, 2026 and the Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026, among the key economy-related legislations proposed for introduction during the Monsoon Session of Parliament beginning from Monday, according to the tentative legislative and financial business agenda circulated by the Ministry of Parliamentary Affairs.

The agenda also includes the Foreign Contribution (Regulation) Amendment Bill, 2026, which was introduced in the Lok Sabha on March 25 this year and has been listed for consideration and passing during the Monsoon session.

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According to the official document, the Income-tax (Amendment) Bill, 2026, which will replace an Ordinance, "seeks to deepen India's sovereign debt market, attract stable global capital inflows, and enhance liquidity in view of the prevailing global macro-economic environment, marked by significant volatility arising from geopolitical uncertainties, sharp increases in crude oil prices, and disruptions in global supply chains."

In simple terms, the Bill seeks to strengthen India's government bond market, encourage stable foreign investment and improve the availability of funds in the financial system amid global economic uncertainty, rising crude oil prices and supply chain disruptions.

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The legislative agenda also states that the Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026 seeks "to align the Micro, Small and Medium Enterprises Development Act, 2006 with the changing MSME landscape, to enhance the Ease of Doing Business and bring trust-based regulations in the MSME ecosystem."

The document further says the Bill proposes "to strengthen the mechanism for addressing delayed payments and provide for enforcement of arbitral awards for the MSEs, and to introduce flexibility and create enabling provisions for States to decide the composition of the Micro and Small Enterprises Facilitation Council (MSEFC), thereby forming more MSEFCs."

In simpler terms, the proposed law aims to make it easier for MSMEs to do business, improve the system for resolving delayed payment issues, ensure arbitration awards can be enforced, and give states greater flexibility to constitute more Facilitation Councils for resolving disputes involving micro and small enterprises.

Separately, the Foreign Contribution (Regulation) Amendment Bill, 2026, which is already pending before the Lok Sabha, has been included in the government's list of business for consideration and passing during the session.

The Monsoon Session of Parliament is scheduled to begin on July 20 and continue until August 13, with a break for Independence Day celebrations before the Houses reconvene if required.