Budget session: All you need to know about the schedule, agenda, hurdles ahead

February 23, 2015

New Delhi, Delhi 23: The government, which is looking to pass key legislation, is set to face a stormy Budget session starting Monday despite its promise to walk the “extra mile” to accommodate the opposition’s concerns.

Budget sessionOn Sunday, Prime Minister Narendra Modi assured the Opposition of addressing all its concerns as his government sought support for the bills that will replace six ordinances, including the one that aims to overhaul the land law.

Parliament opens on Monday for what will be the first full budget session of the Modi government. The budget -- to be presented on February 28 -- will be closely watched for the economic path the government charts. The session will be a test of the NDA's floor management skills with a heavy legislative agenda lined up.

The session will begin with President Pranab Mukherjee's address to members of both Houses of Parliament that will indicate the government's agenda for the session.

"I can assure you that all the issues you have referred to will be discussed adequately and appropriately," the PM told an all-party meet Sunday evening.

Modi's reach-out mission started hours earlier when parliamentary affairs minister Venkaiah Naidu drove to the 10 Janpath residence of Congress chief Sonia Gandhi in the morning.

The Congress, however, remained non-committal, saying it couldn't back bills that were "anti-people".

"We have some concerns about the land law amendments," sources quoted Sonia as telling Naidu.

It was the first official engagement between the Modi government and the Congress president.

HT reported on February 20 that a senior Modi minister may meet Sonia to end the ordinance logjam, with the government planning to bring in the bills on Day 1 itself.

Farmers and social activists, led by Anna Hazare, are planning a sit-in against the land bill, which aims to make land acquisition easy for industry, to coincide with the opening day of the session.  

While another contentious legislation — the insurance bill — wasn't discussed, Sonia did tell Naidu that it would be "good" to have detailed discussion on other ordinances as well, sources said.

At the all-party meeting, Modi said it was the collective responsibility of leaders of all parties to ensure that the session ran smoothly.

"…Hope we can collectively work for the benefit of common man," he said.

Congress leader in Lok Sabha Mallikarjun Kharge, who was also present during the Sonia-Naidu meeting, and party colleague Ghulam Nabi Azad, leader of the Opposition in Rajya Sabha, did not promise anything. The Congress parliamentary party had not met for the session, they said.

Janata Dal (United) chief Sharad Yadav said the land proposals were worse than what existed during the British time.

During the session, the focus should be on financial matters and "we must discuss the special category status for different states," Biju Janata Dal leader Bhartruhari Mahtab said.

The opposition leaders also demanded that the PM repeat on the floor of the House the remarks about the government's commitment to religious tolerance and freedom.

Agenda in Parliament

The government enjoys a brute majority in Lok Sabha but in Rajya Sabha it is outnumbered by the Opposition, whose support is critical for law-making.

Naidu, interestingly, said there was a broad consensus on "five out of six" ordinances, indicating the government's willingness to negotiate a dilution of its land ordinance.

HT wrote on Sunday that the government may water down some clauses of the land bill, dubbed anti-farmer by opposition and various social groups.

The government aims to get Parliament's nod for 44 bills during the session. The coal block auction, insurance and motor vehicles law amendment (e-rickshaw) bills will be tabled in Rajya Sabha. The land bill will come up first in Lok Sabha.

The Rail Budget will be presented February 26, Economic Survey February 27 and General Budget February 28.

An official release said the financial business (11 items) includes presentation of and discussion on General and Railway Budget, voting on demands for grants, supplementary demands for grants for 2014-15 and excess demands, if any, for 2013-14.

The legislative agenda comprises introduction, consideration and passing of seven new bills by both the houses including the finance bill, 2015, and bills replacing the six ordinances.

While 10 new bills are slated to be introduced, the government's agenda includes passing of 3 bills pending in Lok Sabha and 7 in Rajya Sabha.

Those pending in the Lok Sabha are: The Constitution (122nd Amendment) Bill, 2014 relating to introduction of GST, The Lok Pal and Lok Ayuktas and other Related Law (Amendment) Bill, 2014 and The Repealing and Amending Bill, 2014. After being passed by Lok Sabha, these bills will be taken up by Rajya Sabha.

Bills pending in Rajya Sabha include 4 bills already passed by Lok Sabha - The Companies (Amendment) Bill, 2014, The Public Premises Eviction of Unauthorised Occupants) Amendment Bill, 2014, The Regional Rural Banks (Amendment) Bill, 2014, The Repealing and Amending (Second) Bill, 2014, and the Payments and Settlement Systems(Amendment) Bill, 2014.

Other pending bills are: The Prevention of Corruption (Amendment) Bill, 2013 and The Constitution (Scheduled Casts) Orders (Amendment) Bill, 2014.

The new bills pertain to on the National Cooperative Development Corporation, the Warehousing Corporation, Andhra Pradesh reorganisation, arbitration and conciliation, repeal of appropriation acts, registration of births and deaths, whistle blowers protection, Indian Institutes of Management, National Academic Depository and Identification of Scheduled Castes.

The non-legislative business for the session includes discussion on the motion of thanks to the President's address.

There will be 20 working days during the first half of Budget session and 13 in the second half.

During the intervening recess, standing committees will take up detailed examination of the demands for grants of different ministries.

 

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News Network
March 30,2020

New Delhi, Mar 30: The government on Monday said there was no plan to extend the 21-day lockdown which came intro force on Tuesday midnight.

The Press Information Bureau (PIB) of the Ministry of Information and Broadcasting tweeted, saying Cabinet Secretary Rajiv Gauba has denied media reports claiming that the government will extend the lockdown.

"There are rumours & media reports, claiming that the Government will extend the #Lockdown21 when it expires. The Cabinet Secretary has denied these reports, and stated that they are baseless," it said.

The 21-day lockdown is aimed at checking the spread of the coronavirus.

Following the lockdown, there has been a massive exodus of migrant workers from big cities to their villages after being rendered jobless.

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News Network
June 13,2020

Jun 13: The Congress on Saturday accused the BJP-led government of burdening the common man with high taxes on petrol and diesel and earning Rs 2.5 lakh crore since March 5.

Congress leader Kapil Sibal said while international crude oil prices have fallen and are at the lowest level in 15 years, yet petrol and diesel prices are skyrocketing and common people continue to suffer under the Modi dispensation.

He said instead of passing the benefit of lower crude prices to consumers, petrol and diesel prices were hiked for the seventh straight day on June 13.

"The government has earned as much as Rs 44,000 crore in the last six days due to hike in petrol, diesel prices. Since March 5, the government has earned as much as Rs 2.5 lakh crore by way of increasing petrol, diesel prices.

"If the government had even the slightest feelings for the common man, instead of benefitting the companies and the government, the prime minister would have helped the common man with reduced fuel prices," Sibal said at an online press conference.

According to a report by Care Ratings, he said the hike effectively meant that the Central government is collecting around 270 per cent taxes on the base price of petrol and 256 per cent in case of diesel.

The former union minister said petrol was selling at Rs 71.41 in Delhi on May 1, 2014, when international crude oil prices were USD 106.85, while on June 12, 2020, the price of petrol was Rs 75.16 when the crude oil was at USD 38.

He said central excise and VAT cumulatively account for 69 per cent of tax on fuel in India which is higher than anywhere else in the world. He said the tax of fuel in the US was 19 per cent, Japan 47 per cent, the UK 62 per cent, France 63 per cent and Germany 65 per cent.

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Agencies
July 24,2020

Mumbai, Jul 24: Reliance India Limited (RIL) on Friday overtook ExxonMobil to become the world's second most valuable energy company and 46th among the world's largest companies by market capitalisation.

RIL's market capitalisation stood at Rs 14.16 lakh crore (USD 189.3 billion) at market close on Friday. ExxonMobil's current market value is USD 184.77 billion.

"Reliance Industries, with a market capitalisation of USD 189.3 billion now is the second-most valuable energy company in the world. Reliance Industries now stands at 46th among the world's largest companies by market capitalisation ahead of well-known names like ExxonMobil, Abbott Laboratories, Oracle Corp, Chevron and Unilever Plc, and just below PepsiCo," RIL said in an official release.

RIL continued its rally on Friday, notwithstanding overall weak market conditions.

RIL shares made a new all-time high of Rs 2,163 and were last traded at Rs 2,148.8 on NSE with a gain of 4.4 per cent. The market capitalisation of fully paid-up shares stands at Rs 13.62 lakh crore (USD 182.06 billion), the release said.

Reliance partly paid-up shares gained 9.33 per cent on NSE today to last trade at Rs 1289.95. The partly paid-up shares now have a market capitalisation of Rs 0.55 lakh crore (USD 7.29 billion).

"Reliance's share price had touched a bottom of Rs 867 on March 23, 2020, when the total market value of the company stood at Rs 5.5 lakh crore or $73.5 billion. Thus, RIL has added $115.9 billion to shareholder wealth within just four months - one of the highest value creation feats in the world in such a short time," the release said.

Reliance had earlier raised Rs 212,809 crore through Rights Issue, combined investments in Jio Platforms and investment by bp.

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