LIVE Parliament Updates: Finance Minister Nirmala Sitharaman responded to opposition arguments on the 2020 business (amendment) bill at the Lok Sabha on Saturday.
Latest updates from Parliament: Finance Minister Nirmala Sitharaman responded to the opposition’s arguments about the 2020 Business (Amendment) Bill at the Lok Sabha on Saturday.
She said, “This bill will help companies do their business easily, help them get out easily. It will also amend the company law to decriminalize various crimes.”
The Chamber rises until 3 pm on Sunday.
MoS Finance Anurag Thakur addressed the arguments presented by opposition MPs about the PM CARES fund at the Lok Sabha on Saturday.
“Why is there so much mistrust in PM Cares Fund? Is there any past experience that has caused it?
“The initial fund was granted by PM Modi’s mother and other common people. This will be audited by the same group that audits the PM Relief fund. This will be distributed by a committee and is not a specific person. This is a registered trust.” he added. he said.
TMC MP Mahua Moitra joined the debate on the Tax Amendment Bill in the Lok Sabha on Saturday and criticized the Center on multiple charges, including donations made by Chinese companies to the PM CARES fund.
He said the bill is “deeply problematic because it further weakens the rights and resources available to states by eliminating statutory promises made under the new GST regime. It also corners public funds for PM CARES to the direct detriment of state funds from help. “
He added: “The government allowed CSR to PM CARES, but did not allow it to the state aid fund, which is an unfair step. In addition, 38 PSUs donated to PM CARES, but no audit has been carried out on it.”
“Chinese companies made massive donations to PM CARES – Xiaomi, TikTok, etc. Why does the government accept donations from our enemy companies? The tainted money should be returned,” he added.
The Lok Sabha has started debating the tax amendment bill proposed by Finance Minister Nirmala Sitharaman. The introduction of the bill sparked a lively discussion about the PM CARES fund, GST and the state of the economy on Friday.
MoS Santosh Work and Employment Kumar Gangwar sought to introduce three bills in the Lok Sabha on Saturday: The Code of Safety, Health and Working Conditions, 2020, The Code of Industrial Relations, 2020, The Code of Social Security, 2020.
By providing relief to taxpayers following the COVID-19 outbreak, the government, through the ordinance, extended the deadline for filing income tax returns for the 2018-19 fiscal year to September 30 and linked Biometric Aadhaar with PAN until March 31, 2021.
All issues not included in the Epidemic Law or the National Disaster Management Law will be included in the Public Health Law, the Union health minister said.
Sitharaman told the Rajya Sabha that the suspension of IBC Sections 7, 9 and 10 was intended to prevent companies from becoming insolvent. “With this intention, Section 10A of the ordinance was introduced,” Sitharaman said.
Congress Vivek Tankha said enactment of 10A will backfire as there is no certainty how long the pandemic will continue.
The uproar in Rajya Sabha followed when the opposition demanded a discussion on the agriculture bills passed in Lok Sabha. President Venkaiah Naidu said the bills will be taken the next day and discussion can take place then.
On the sixth day of the monsoon session of Parliament, Finance Minister Nirmala Sitharaman will present the 2020 Insolvency and Bankruptcy Code (Second Amendment) bill for consideration and approval on Saturday.
The bill will replace the 2020 Bankruptcy and Insolvency Code Ordinance (Amendment), which was enacted on June 5 and prohibited the initiation of insolvency proceedings for defaults arising during the six months starting March 25, 2020 (extendable up to one year).
The Ordinance emerged in response to the COVID-19 pandemic, which had created uncertainty and stress for businesses. It was also considered that during the coronavorus lockdown, it may be difficult to find an adequate number of resolution seekers to rescue the corporate debtor who may default on his debt.
Among the ordinances to be discussed in the Upper House is the Epidemic Disease (Amendment) Ordinance of 2020. The Ordinance seeks amendments to the 125-year-old Epidemic Disease Act of 1897, which protects healthcare workers. in the country.
In early April, the government had approved an ordinance that recognized any crime against health professionals as a “recognizable and non-bailable” crime. It means that offenders can be arrested without a warrant and no bond will be granted.
Violators can also be fined between Rs 50,000 and Rs 2 lakhs and will also have to serve a prison term of between three months and five years, Union Minister Prakash Javadekar said in April.
The Draft Law on Taxes and Other Laws (Relaxation and Amendment of Certain Provisions), 2020, is set to be considered in the Lower House on Saturday.
The bill seeks to replace the 2020 Tax and Other Laws (Relaxation of Certain Provisions) Ordinance, issued in March 2020.
By providing relief to taxpayers following the COVID-19 outbreak, the government, through the ordinance, extended the deadline for filing income tax returns for the 2018-19 fiscal year to September 30 and linked Biometric Aadhaar with PAN until March 31, 2021.
Lok Sabha President Om Birla called for the bill to be introduced on Friday. However, since the minister was not present, the Chamber then began discussion on two laws related to the agricultural sector.
Interior Minister Amot Shah will push forward the bill that seeks to establish a National University of Forensic Sciences as an institution of national importance by upgrading the Gujarat University of Forensic Sciences in Gandhinagar.
Acts of Parliament on September 18
On Friday, the Lower House witnessed the first postponement in the Monsoon Session due to the interruption when members of the Treasury and the Opposition clashed over the PM-CARES fund.
The proceedings in the Lower House were interrupted when the opposition launched slogans against the Minister of State for Finance, Anurag Thakur, for his allegation that the Prime Minister’s National Aid Fund (PMNRF) was created “only for the benefit of the Gandhi family. “.
“The trust was created during the tenure of former Prime Minister Jawaharlal Nehru and it was not even registered as a public trust, but it obtained all relevant authorizations, including the FCRA,” Thakur said, intervening during the introduction of the Tax Laws and other Relaxation of certain provisions) Bill.
“The PM Cares Fund is a constitutionally established charitable public trust. The PM National Relief Fund was created solely for the benefits of one family – the Nehru-Gandhi family,” he said.
On the other hand, Rajya Sabha passed four bills in less than four hours. The Upper House was also suspended for 30 minutes to mourn the death of Karnataka MP Ashok Gasti.
The Indian Central Council of Medicine Bill (Amendment), 2020; Ministers’ Salaries and Allowances Bill (Amendment), 2020; Central Council of Homeopathy Bill (Amendment), 2020; and the 2020 Members of Parliament (Amendment) Salary, Benefits and Pension Bill was passed in the Upper House.
With PTI inputs
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