Supreme Court Expansion, Banking Law Reforms, Tax Amendments and Statistical Institute Overhaul to Dominate Monsoon Session as Government Pushes Legislative Agenda

The Monsoon Session of Parliament enters a decisive phase on Monday as the Union government prepares to take up four significant bills covering judicial reforms, banking regulations, taxation and institutional governance. With only nine working days remaining in the current session, the Centre is expected to accelerate the legislative process and push several pending reforms through Parliament.

Apart from the proposed legislations, Union Finance Minister Nirmala Sitharaman is scheduled to present the Demands for Excess Grants for the financial year 2022–23, an important parliamentary exercise that seeks approval for expenditure incurred beyond the originally sanctioned budget.

The government faces the challenge of advancing its legislative priorities amid continued disruptions in both Houses by the Opposition over several political issues.

Government's Legislative Push Gains Momentum

The Monsoon Session has now entered its third week, making the remaining sittings critical for the government to complete its legislative agenda before Parliament adjourns.

Several reform-oriented bills that have been introduced over the past few weeks are awaiting discussion and passage. Monday's business reflects the government's focus on judicial efficiency, financial sector reforms, institutional modernisation and tax administration.

The four bills listed for consideration include:

• Supreme Court (Number of Judges) Amendment Bill, 2026

• Indian Statistical Institute Bill, 2026

• Bankers' Books Evidence Bill, 2026

• Taxation and Other Laws (Amendment) Bill, 2026

Each of these proposals addresses structural reforms aimed at improving governance and updating decades-old legal frameworks.

Supreme Court Bench Strength Set to Increase

Among the most significant proposals is the Supreme Court (Number of Judges) Amendment Bill, 2026, which seeks to increase the sanctioned strength of judges in the country's highest court.

The Bill proposes raising the number of judges from 33 to 37, excluding the Chief Justice of India.

The objective is to reduce the growing backlog of pending cases and improve the speed of judicial delivery.

India's Supreme Court has witnessed a sharp increase in litigation over the past decade, making capacity expansion an important judicial reform. Increasing the number of judges is expected to enable more Constitution Bench hearings, faster disposal of appeals and improved access to justice.

The Bill will replace an ordinance issued by the government earlier this year.

Indian Statistical Institute Set for Institutional Reform

Parliament will also consider the Indian Statistical Institute (ISI) Bill, 2026, which proposes replacing the existing Indian Statistical Institute Act, 1959.

The legislation seeks to modernise the governance structure of the Kolkata-based institution, which has played a significant role in statistics, mathematics, computer science and data science research.

Some of the major reforms proposed include:

• Incorporation of ISI as a statutory body corporate.

• Creation of an 11-member Board of Governors.

• Majority representation for non-government members.

• Appointment of the President of India as the Visitor of the institute.

• Greater academic and administrative autonomy.

The proposed framework aims to position the institute as a leading global centre for research in emerging areas such as artificial intelligence, machine learning and advanced analytics.

Banking Laws to Enter the Digital Era

Another important item on Monday's agenda is the Bankers' Books Evidence Bill, 2026, which seeks to replace the Bankers' Books Evidence Act, 1891.

The existing law was enacted more than 125 years ago, when banking records existed almost entirely in physical form.

The proposed legislation introduces a technology-neutral legal framework that recognises modern banking systems.

The Bill expands the definition of banking records to include:

• Physical documents

• Digital records

• Electronic databases

• Cloud-based information

• Any future record-keeping technologies

The legislation also enables the Central Government to extend the law's applicability to additional financial institutions operating within India's financial ecosystem.

It further defines circumstances under which courts may compel bank officials to produce records or appear as witnesses in legal proceedings.

The reform is expected to simplify legal procedures involving banking evidence while supporting India's rapidly digitising financial sector.

Taxation Amendment Bill to Replace Existing Ordinance

The Taxation and Other Laws (Amendment) Bill, 2026 is also scheduled for consideration.

The Bill seeks to replace an ordinance issued earlier and introduces amendments to existing taxation provisions.

Although detailed discussions are expected during parliamentary proceedings, the legislation forms part of the government's broader strategy to modernise India's tax administration and improve legal certainty for taxpayers and businesses.

Finance Minister to Present Excess Grant Demands

Apart from legislative business, Finance Minister Nirmala Sitharaman will present the Demands for Excess Grants for FY2022–23.

This constitutional process allows Parliament to approve expenditure incurred by the government beyond the originally approved budget allocation.

The exercise reinforces fiscal accountability and ensures that additional government spending receives legislative approval.

Corporate Law Reforms Also in Focus

Monday's agenda also includes the presentation of the report of the Joint Parliamentary Committee on the Corporate Laws (Amendment) Bill, 2026.

The proposed amendments seek to reform:

• Companies Act, 2013

• Limited Liability Partnership (LLP) Act, 2008

The committee has examined proposals aimed at:

• Reducing compliance burdens.

• Decriminalising procedural violations.

• Improving corporate governance.

• Enhancing the ease of doing business.

The recommendations are expected to shape the final version of the legislation before it is brought for passage.

Political Deadlock Continues

Despite the government's legislative priorities, Parliament has experienced repeated disruptions during the ongoing session.

Opposition parties have continued demanding discussions on:

• Alleged irregularities relating to Ram Mandir donation funds.

• Police action against students protesting the NEET-UG paper leak.

• Other governance-related issues.

Frequent adjournments have affected legislative productivity and reduced the number of effective working hours available during the session.

Why These Bills Matter

The legislative proposals extend beyond administrative reforms and have broader implications for India's institutional and economic landscape.

Increasing the Supreme Court's strength could improve judicial efficiency and reduce delays in commercial litigation.

Modernising banking evidence laws will support India's digital financial ecosystem and strengthen legal recognition of electronic banking records.

Reforming the Indian Statistical Institute could enhance India's capabilities in data science, artificial intelligence and evidence-based policymaking.

Corporate and taxation reforms are also expected to improve regulatory clarity, reduce compliance costs and strengthen India's investment climate.

Collectively, these measures support the government's long-term objective of building stronger institutions and improving the ease of doing business.

Legislative Race Against Time

With only nine sitting days remaining, the government is expected to prioritise bills that have significant economic, administrative and governance implications.

Several important reforms are still awaiting parliamentary approval, making the coming weeks crucial for both the government and the Opposition.

The outcome of the remaining Monsoon Session could shape India's legislative agenda for the remainder of the year.

Outlook

The third week of Parliament's Monsoon Session marks a critical phase for the government's reform agenda. The proposed legislations covering judicial expansion, banking modernisation, taxation reforms and institutional governance have the potential to influence India's legal, financial and administrative landscape over the long term.

However, the success of these reforms will depend on Parliament's ability to function smoothly amid continued political disagreements. With limited sittings left, lawmakers face increasing pressure to balance legislative priorities with ongoing debates on key national issues. Businesses, investors and policy observers will closely monitor the progress of these bills, particularly those affecting the financial sector, corporate regulations and judicial efficiency, as they could have meaningful implications for India's governance framework and investment environment.