Japan's Lower House Passes Record Initial Budget for Fiscal 2019
(Bloomberg) -- The lower chamber of the Japanese parliament early Saturday approved the government's record 101.5 trillion yen ($907 billion) initial budget bill for the fiscal year starting April 1.
Prime Minister Shinzo Abe's Liberal Democratic Party and its coalition partner Komeito held a vote on the bill, clearing the way for its passage by the chamber to ensure it can be enacted before the new fiscal year begins. Earlier, opposition lawmakers halted deliberations by submitting a no-confidence motion against a Cabinet minister over his handling of a data scandal in the labor ministry.
Read more: Abe's Cabinet Approves Record Budget to Soften Tax-Hike Blow
Under the Constitution, the budget will automatically take effect 30 days after it's passed by the lower house. An initial budget for fiscal 2018 was 97.7 trillion yen.
To contact the reporter on this story: Tsuyoshi Inajima in Tokyo at tinajima@bloomberg.net
To contact the editors responsible for this story: Shamim Adam at sadam2@bloomberg.net, Margo Towie, John McCluskey
©2019 Bloomberg L.P.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
