Fri, 24 Sep 2021

RS passes 3 bills in one day amid uproar

ANI
05 Aug 2021, 04:55 GMT+10

New Delhi [India], August 4 (ANI): The Rajya Sabha passed three Bills on Wednesday -- the Limited Liability Partnership (Amendment) Bill, 2021, the Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill, 2021 and Airports Economic Regulatory Authority (Amendment) Bill, 2021 -- amid uproar by the opposition.

Union Finance Minister Nirmala Sitharaman moved for passage the Limited Liability Partnership (Amendment) Bill 2020, Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill, 2021, and General Insurance Business (Nationalisation) Amendment Bill, 2021The Bills aim to amend the Limited Liability Partnership Act 2008, Deposit Insurance and Credit Guarantee Corporation Act 1961, and General Insurance Business (Nationalisation) Act 1972 respectively.

The Limited Liability Partnership (LLP) Amendment Bill proposes to decriminalise 12 offences under the Limited Liability Partnership Act and foster the ease of doing business in the country.

The bill was introduced in Rajya Sabha on July 30, 2021.

The Rajya Sabha also passed the Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill, 2021. The proposed law will insure bank deposits up to Rs 5 lakh. Under DICGC Bill 2021, 98.3 per cent of all deposits will get covered and in terms of deposit value, 50.9 per cent deposit value will be covered. Global deposit value is only 80 per cent of all deposit accounts. It only covers 20-30 per cent of the deposit value.

The House also passed the Airports Economic Regulatory Authority (Amendment) Bill, 2021, which was tabled by Union Civil Aviation Minister Jyotiraditya Scindia. The bill seeks to amend the Airports Economic Regulatory Authority of India Act, 2008.

It proposes to amend the definition of 'major airport' so as extend its scope to determine the tariff for a group of airports also, which will encourage the development of smaller airports.

Meanwhile, Lok Sabha also passed two bills today.

The Commission for Air Quality Management in National Capital Region and Adjoining Areas Bill, 2021 was introduced in Lok Sabha on July 30, 2021. The Bill provides for the constitution of a Commission for better coordination, research, identification, and resolution of problems related to air quality in the National Capital Region (NCR) and adjoining areas.

The Coconut Development Board (Amendment) Bill, 2021 was also passed in the lower house.

The Bill amends the Coconut Development Board Act, 1979. The Act established the Coconut Development Board for the development of the coconut industry.

For the last few days, the business of both the Houses of the Parliament remained majorly disrupted due to the continuous ruckus created by the Opposition over issues including farmers' protest, Pegasus spyware, COVID-19 and inflation.

The Monsoon Session commenced on July 19, 2021, and will continue till August 13, 2021. (ANI)

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