Govt to take up Insurance Bill in Monsoon Session of Parliament
Along with the banking sector - that is privatisation of PSBs the government is also aiming to bring about legislative changes that were necessary to pave the way for privatisation of the insurance companies. As per the announcement made by finance minister Nirmala Sitharaman, one of the general insurance government owned PSUs will be privatised. To enable that there is an act called General Insurance Business (Nationalisation) Act, 1972 (GIBNA) and we are given to understand that those amendments are very much on the cards. CNBC-TV18’s Sapna Das has more details.
The government is set to introduce several crucial bills in the Monsoon Session of Parliament, which begins on July 19.
The key bills include The Insolvency and Bankruptcy Code (Amendment) Bill, 2021, The Coal Bearing Areas (Acquisition and Development) Amendment Bill, 2021, The Electricity (Amendment) Bill, 2021 among others.
Besides, the Centre will also introduce the Deposit Insurance Bill, to increase insurance cover to Rs 5 lakh.
Along with the banking sector - that is privatisation of PSBs the government is also aiming to bring about legislative changes that were necessary to pave the way for privatisation of the insurance companies. As per the announcement made by finance minister Nirmala Sitharaman, one of the general insurance government-owned PSUs will be privatised. To enable that there is an act called General Insurance Business (Nationalisation) Act, 1972 (GIBNA) and we are given to understand that those amendments are very much on the cards.
CNBC-TV18’s Sapna Das has more details.
After nearly one year, a Parliament session will have an almost normal schedule with all COVID-19 protocols in place.
Since the pandemic began, three sessions of Parliament were curtailed while the winter session last year had to be cancelled. The Monsoon session usually commences in the third week of July and concludes ahead of Independence day.
Social distancing norms will remain the same as it was in the last Budget session. Unvaccinated Members of Parliament will need a negative RT-PCR test report to attend the Monsoon Session. According to reports, at least 79 percent Lok Sabha MPs have taken both doses of COVID-19 vaccine.
(Edited by : Aditi Gautam)
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