Opposition protests on snooping, other issues rock Rajya Sabha

Proceedings in Rajya Sabha were repeatedly disrupted on Monday before being called off for the day as opposition members protested on the alleged phone-tapping and other issues and demanded discussions on them in the House. Soon after the House paid glowing tributes to the martyrs of the Kargil war and congratulated Mirabai Chanu for winning a silver medal in Tokyo Olympics, MPs belonging to the Congress, Trinamool Congress and other opposition parties rushed into the Well raising slogans against the government

Jul 26, 2021 7:12 PM

There is no official estimate of the black money stashed in Swiss Bank for the last 10 years: MoS Finance Pankaj Chaudhary in Lok Sabha

Jul 26, 2021 6:32 PM

Govt tables bill in LS to amend insolvency law; bring pre-packaged process for stressed MSMEs

The government on Monday introduced a bill in the Lok Sabha to amend the insolvency law and provide for a pre-packaged resolution process for stressed MSMEs. The proposed amendments would enable the government to notify the threshold of a default not exceeding Rs 1 crore for initiation of pre-packaged resolution process. The government has already prescribed the threshold of Rs 10 lakh for this purpose.

Jul 26, 2021 6:18 PM

Lok Sabha passes two bills amid din

The Lok Sabha on Monday passed the Factoring Amendment Bill and National Institute of Food Technology Bill without debate amid protest over various issues, including the Pegasus snooping controversy. Moving the Factoring Regulation (Amendment) Bill, 2020 for consideration and passage, Finance Minister Nirmala Sitharaman said the changes in the legislation are aimed at helping the MSME sector. The amendments to the factoring law are based on the recommendations of the U K Sinha Committee. She further the government has accepted the recommendations of the Standing Committee which had last year scrutinised the bill.

Jul 26, 2021 5:24 PM

Rajya Sabha proceedings adjourned till tomorrow amid uproar by opposition members

Jul 26, 2021 5:16 PM

Govt paid Rs 164.5 cr to Infosys for new I-T portal: Chaudhary

The government paid Rs 164.5 crore to Infosys to build the new income tax e-filing portal between January 2019 and June 2021, Parliament was informed on Monday. "The contract for Integrated e-filing & Centralized Processing Centre (CPC 2.0) Project was awarded through an open tender published on Central Public Procurement Portal (CPPP) to Infosys Ltd, the Managed Service Provider on the lowest cost basis. "Since January 2019 till June 2021, the total amount paid to Infosys is Rs 164.5 crore under this project," Minister of State for Finance Pankaj Chaudhary said in a written reply to the Lok Sabha.

Jul 26, 2021 4:58 PM

Govt's net tax collection rises 86% to Rs 5.57 lakh cr in Q1

The government's total tax collection in the April-June quarter grew about 86 per cent to more than Rs 5.57 lakh crore, Parliament was informed on Monday. Out of the total amount, collection of net direct tax stood at Rs 2.46 lakh crore and of indirect tax was at Rs 3.11 lakh crore. "The net direct tax collection in the 1st quarter of FY 2021-2022 is Rs 2,46,519.82 crore as against Rs 1,17,783.87 crore during the same period of previous FY 2020-21 representing a growth of 109.3 per cent," Minister of State for Finance Pankaj Chaudhary said in a written reply to Lok Sabha. The net indirect tax collection in the first quarter of FY 2021-2022 was Rs 3,11,398 crore as against Rs 1,82,862 crore during the same period a year ago, representing a growth of 70.3 per cent.

Jul 26, 2021 4:35 PM

Education Ministry in process of drafting bill for setting up Higher Education Commission: Pradhan

The Ministry of Education is in the process of drafting a bill for establishment of the Higher Education Commission of India (HECI), the Lok Sabha was informed on Monday. The information was shared by Union Education Minister Dharmendra Pradhan in the lower house.

Jul 26, 2021 4:03 PM

Lok Sabha adjourned for the day after passage of two bills amid disruptions by opposition members

Lok Sabha was adjourned for the day on Monday after passage of two bills without discussions amid relentless protests by Opposition members who raised slogans and showed placards on the Pegasus snooping row and farmers' issue. As soon as the House met at 3 pm after repeated adjournments during the day, Lok Sabha took up the Factoring Regulation (Amendment) Bill, 2020, and the National Institutes of Food Technology, Entrepreneurship and Management Bill, 2021, separately.

Jul 26, 2021 3:36 PM

The National Institute of Food Technology Entrepreneurship and Management Bill, 2021 passed in Lok Sabha

Jul 26, 2021 3:28 PM

Rajya Sabha proceedings adjourned till 4 PM amid uproar by opposition members

Jul 26, 2021 3:14 PM

Govt introduces bill to amend insolvency law in Lok Sabha

Corporate Affairs Minister Nirmala Sitharaman on Monday introduced a bill in the Lok Sabha to replace an ordinance that amended the insolvency law. The Insolvency and Bankruptcy Code (Amendment) Bill, 2021 was introduced amid Opposition ruckus over various issues.Sitharaman is in charge of both finance and corporate affairs ministries. The ordinance to amend the Insolvency and Bankruptcy Code (IBC) was promulgated on April 4, whereby a pre-packaged resolution process for stressed micro, small and medium enterprises (MSMEs) was introduced under the Code.

Jul 26, 2021 3:02 PM

Rajya Sabha adjourned till 12 noon after opposition parties create ruckus

Rajya Sabha proceedings were on Monday adjourned for almost an hour after opposition parties continued their protests over various issues including snoop gate and farm laws. MPs belonging to the Congress, Trinamool Congress (TMC) and other opposition parties rushed into the well of the House raising slogans against the government. Chairman M Venkaiah Naidu said members are being prevented from raising issues of public importance. "We are becoming helpless day by day," he said before adjourning the proceedings till 12 noon. Soon after the House paid glowing tributes to the martyrs of the Kargil war and congratulated Mirabai Chanu for winning a silver medal in Tokyo Olympics, slogan-shouting opposition members trooped into the well of the House.

Jul 26, 2021 2:28 PM

In reply to another question, the Finance Minister said the RBI has announced Special three-year Long-Term Repo Operations (SLTRO) of Rs 10,000 crore at repo rate for the Small Finance Banks (SFBs), to be deployed for fresh lending of up to Rs 10 lakh per borrower to provide further support to small business units, micro and small industries, and other unorganised sector entities adversely affected during the current wave of the pandemic. The first auction under the SLTRO was conducted on May 17, 2021, she said, adding, the unutilised portion of notified Rs 10,000 crore is being carried forward in each subsequent auction, until fully utilised or till the last auction to be conducted in October 2021, whichever is earlier. Three auctions under this scheme have been conducted so far, and SFBs have availed a total amount of Rs 1,640 crore under the scheme, she added.

Jul 26, 2021 2:13 PM

No plan to print currency notes to tide over crisis: FM Sitharaman

The government has no plan to print currency notes to tide over the current economic crisis triggered by the outbreak of the COVID-19 pandemic, Finance Minister Nirmala Sitharaman informed Parliament on Monday. To a question on whether there is any plan to print currency to tide over the crisis, the Finance Minister said, "No Sir". Many economists and experts have suggested the government to resort to printing more currency notes to support the economy ravaged by the spread of COVID-19 and protect jobs. India's real Gross Domestic Product (GDP) is estimated to have contracted by 7.3 percent during 2020-21, Sitharaman said in a written reply to Lok Sabha. This contraction reflects the unparalleled effect of the pandemic and the containment measures that were taken to control the pandemic, she said. "The fundamentals of the economy remain strong as gradual scaling back of lockdowns, along with the astute support of Atmanirbhar Bharat Mission has placed the economy firmly on the path of recovery from the second half of FY 2020-21," she said. The government had announced a special economic and comprehensive package of Rs 29.87 lakh crore under AtmaNirbhar Bharat (ANB) to combat the impact of the pandemic, to revive economic growth and to bolster employment during 2020-21, she said.

Jul 26, 2021 1:42 PM

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