Lok Sabha proceedings during the budget session of Parliament on March 25, 2026. Photo: Sansad TV via ANI
Parliamentary Affairs Minister Kiren Rijiju on Wednesday (March 25, 2026) informed the Lok Sabha that the second part of the budget session would continue as planned and the government would take up business instead of private members’ business on Friday (March 27). The second half of Friday is usually reserved for members’ private business.
Mr Rijiju said that although a proposal was made to hold the session on the weekend, Parliament would not function on Saturday (March 28) and Sunday (March 29). March 31 will be a holiday due to Mahavir Jayanti.
Also Read: LIVE Updates from 25th March 2026 Budget Session of Parliament
“In the remaining days, the House will function as designed,” he said, indicating that the parliament would function until April 2. The Business Advisory Committee has already set aside seven hours of debate for the Central Armed Police Forces (General Administration) Bill 2026.
The announcement came amid reports that Parliament may adjourn early in view of the upcoming Assembly elections in four states and one Union Territory.
Mr. Rijiju made the announcement when the House was deliberating on the Insolvency and Bankruptcy (Amendment) Bill, 2025. BJP MP Anurag Thakur, who participated in it, said that the Insolvency Bill had led to the recovery of more than ₹400,000 crore in the past decade through the resolution of failed companies.
He said the IBC, enacted in 2016, achieved 50% recovery against 20% under the SARFAESI (Securitization and Reconstruction of Financial Assets and Securities Recovery) Act, 2002 and 10% under the Debt Recovery Tribunals, Mr. Thakur said.
“This shows the greater effectiveness of the IBC,” he noted, adding that it has changed the borrower-creditor relationship, with companies and promoters now fearing insolvency.
Citing examples, he said about 32,000 applications have been withdrawn and the underlying debt of over ₹14.5 crore has been settled.
On 12 August 2025, the government introduced a bill in the Lok Sabha to amend the Insolvency and Bankruptcy Code (IBC), proposing a number of changes, including provisions to reduce delays in receiving applications for insolvency resolution.
The bill was referred to a select committee, which submitted its report in December 2025.
The Code has gone through six legislative interventions so far, with the latest amendment in 2021. The proposed amendment aims to speed up the handling of IBC cases and out-of-court settlements, address cross-border insolvency and streamline discretionary provisions, Mr Thákur said.
Published – 25 March 2026 22:07 IST
