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Jairam Ramesh
NEW DELHI: Congress MP Jairam Ramesh has written to Lok Sabha Speaker Om Birla asking him to not certify as ‘Money Bills’ at least 7 proposed legislations that Finance Minister Nirmala Sitharaman said she will introduce in Parliament during the Budget session.
Ramesh argued that the proposed legislations need to be discussed, first, in the concerned standing committees. “I am writing to you because the government has, in the past 4-5 years, taken recourse to the ‘Money Bill’ route to circumvent not just scrutiny by the standing committee concerned, but also to by-pass Rajya Sabha,” Ramesh said in his February 16 letter to Birla.
Congress urges Speaker not to bypass Rajya Sabha by declaring 7 key Bills as ‘money bills’
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Budget session of Parliament is in recess and will resume on March 8
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Budget session of Parliament is in recess and will resume on March 8
In a pre-emptive move, the Congress has written to Lok Sabha Speaker Om Birla, urging him not to bypass the Rajya Sabha by declaring seven key Bills, including the one on privatising two public sector banks, as “money bills”.
The Budget session of Parliament is in recess and will resume on March 8. The Rajya Sabha has limited powers to legislate on a “money bill”. The Lok Sabha is free to accept or reject the amendments made by the Rajya Sabha on a money bill, making the Upper House’s views on the legislation irrelevant.
Budget 2021 | Explained: What the proposed single Securities Markets Code means for investors and markets
Finance Minister Nirmala Sitharaman proposed merging some of the most important Acts that govern the capital markets and securities into one common code. What is the aim? What will be its impact? Read on. February 03, 2021 / 02:26 PM IST
Finance Minister Nirmala Sitharaman stands next to Minister of State for Finance and Corporate Affairs Anurag Thakur (L) as she leaves her office to present the Union Budget in the parliament in New Delhi on February 1. (File image: Reuters)
While presenting the Union Budget for the financial year 2021-22, Finance Minister Nirmala Sitharaman proposed merging some of the most important Acts that govern the capital markets and securities into one common code. So why has the government taken this decision and what does it mean for the capital markets or the investor community?
Monetisation of infra assets, divestment plans of the non-core assets, and conducive tax compliance are likely to attract the much-needed foreign capital.