Farmers Movement Archive

Finance minister Nirmala Sitharaman to move 3 Bills in Rajya Sabha today

Union finance minister Nirmala Sitharaman will be moving three Bills in the Rajya Sabha on Wednesday.Sitharaman will move for the passage of the Limited Liability Partnership (Amendment) Bill 2020 which seeks to amend the Limited Liability Partnership Act of 2008. The Bill was introduced in the Upper House on Friday by MoS for Corporate Affairs Inderjit Singh Rao amid protests and sloganeering by the Opposition over various issues, including the Pegasus snooping controversy and farm laws. It seeks to encourage the start-up ecosystem and further boost the ease of doing business in the country. The Bill proposes to introduce the concept of “small limited liability partnership” in line with the concept of “small company” under the Companies Act, 2013.Also Read | Fiscal numbers for 2021 first quarter do not inspire confidence about economyThe minister will also seek the passage of the Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill, 2021 or the DICGC Amendment Bill 2021. The Bill proposes three key changes that could vastly improve the working of deposit insurance as it stands today. These changes, if passed into law, will add an extra dimension to the Centre’s landmark move last year to hike the insurance coverage for individual depositors in banks from ₹1 lakh to ₹5 lakh.The third Bill is the General Insurance Business (Nationalisation) Amendment Bill, 2021. The Bill seeks to permit the government to cut its stake in prominent state-owned general insurance corporations, helping achieve its divestment targets. Divestment refers to the government’s selling off part of its ownership in state-run corporations.The Bill aims to amend the parent Act, The General Insurance Business (Nationalisation) Act, 1972. The Bill was passed in the Lower House on Monday.Rajya Sabha will see an eventful day on Wednesday with two more Bills. Union ministers Jyotiraditya Scindia and Arjun Munda will also move the Airports Economic Regulatory Authority of India (Amendment) Bill, 2021 and the Constitution (Scheduled Tribes) Order (Amendment) Bill, 2021, respectively.Lok Sabha will see the Coconut Development Board (Amendment) Bill, 2021 which will be moved by Narendra Singh Tomar. The Rajya Sabha gave its assent to the Bill on Friday. The Union minister of agriculture and farmers welfare stated the Bill aims at developing coconut cultivation in the country, increase the income of coconut farmers, and extend facilities for them.

Hindustan Times

04-08-2021

India