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Bills pile up at end of Budget session

BS Economy Bureau

The brouhaha in Parliament has ensured that several critical economic Bills, including the Fiscal Responsibility and Budget Management Bill, the Banking Companies Bill, the Electricity Bill, the Convergence Bill and the Sick Industrial Companies (Special Provisions) Repeal Bill, are pending at the close of the Budget session.

Several other Bills, like the one that seeks to amend the Securities and Exchange Board of India Act to strengthen the capital market regulator, have not even been approved by the Cabinet. Another Cabinet decision to merge three separate Bills on asset reconstruction, forfeiture and securitisation has also not been tabled in Parliament.

Parliamentary affairs minister Pramod Mahajan, however, said the number of Bills passed by both Houses during the current session was the highest in the past four years. While the Lok Sabha cleared 37 Bills, the Rajya Sabha passed 28 Bills despite the hours lost due to the disruptions over the Gujarat violence.

Some of the important Bills passed during the session include the Insurance (Amendment) Bill, seeking to allow co-operatives into the sector and step up shareholders' share of profits in the life insurance business, and the Patents Amendment Bill, crucial to make India adherent to the Trade-Related Intellectual Property Rights' agreement.

Among the other Bills passed were the Passports (Amendment) Bill, the Constitution Amendment on Right to Education Bill, the Code of Civil Procedure and Delimitation Bill. Most of the pending Bills have been referred to various standing committees.

During the 82-day session, the Lok Sabha had 40 sittings and the Rajya Sabha 38. These include the joint sitting of both Houses to pass the Prevention of Terrorism Bill, which was passed by the Lok Sabha but rejected by the Rajya Sabha.

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