The Parliament has cleared over a dozen crucial legislations, covering diverse sectors from shipping and sports to taxation and nuclear energy. These bills received approval from both Lok Sabha and Rajya Sabha before obtaining President Droupadi Murmu's assent to become law. The government projected many of these bills as a continuation of its reform agenda, aimed at easing norms and simplifying compliances for private and foreign players across various industries.

Major Tax and Financial Reforms

The Income-Tax Act represents a significant overhaul, replacing the Income-Tax Act, 1961 to simplify language and remove redundant provisions. The Act introduces faceless collection of information and assessment of tax cases. Complementing this, the Taxation Laws (Amendment) Act introduces amendments to various taxation laws, focusing on corporate taxes, excise duties, and simplifying tax compliance procedures.

The Health Security se National Security Cess Act introduces a new revenue mechanism, allowing levy of cess on production of goods such as pan masala to replace the compensation cess that was part of the GST system.

Insurance and Gaming Sector Transformation

The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill brings sweeping changes to the insurance sector. The Act raises the foreign direct investment limit from 74% to 100%, rationalizes penalties, and eases regulatory hurdles for intermediaries, potentially attracting significant foreign investment.

The Promotion and Regulation of Online Gaming Act establishes a comprehensive legal and regulatory framework for the online gaming industry. The legislation focuses on consumer protection, responsible gaming, and preventing illegal activities while notably banning real money gaming apps.

Nuclear and Energy Sector Reforms

The Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India Act consolidates and modernizes India's nuclear legal system. This landmark legislation enables limited private participation in the nuclear sector under regulatory oversight and establishes a graded liability framework, marking a significant shift in nuclear energy policy.

Maritime and Infrastructure Development

Several laws target maritime sector modernization:

• Merchant Shipping Act: Modernizes laws governing merchant shipping, easing ship registration and improving safety standards
• Indian Ports Act: Updates regulation of major and non-major ports to boost infrastructure and investment
• Coastal Shipping Act: Simplifies regulations for coastal waters operations to promote cargo traffic

Sports, Mining, and Institutional Governance

The National Sports Governance Act aims to ensure greater transparency and accountability in National Sports Federations and other sports bodies. The National Anti-Doping (Amendment) Act strengthens mechanisms for drug-free sports, aligning with international World Anti-Doping Agency codes.

In the mining sector, the Mines and Minerals (Development and Regulation) Amendment Act introduces reforms for boosting exploration and transparent auctioning of mineral blocks. The Oilfields (Regulation and Development) Amendment Act introduces a single permit system through petroleum leases, replacing the existing framework.

Additional legislation includes the Waqf (Amendment) Act for improved administration of Waqf properties with enhanced transparency and broader stakeholder representation, and the Indian Institutes of Management (Amendment) Act fine-tuning IIM governance structures.

These comprehensive reforms demonstrate Parliament's focus on modernizing regulatory frameworks across multiple sectors while promoting ease of doing business and attracting investment.