Parliament Winter Session: Which are the main economy-related bills?
BusinessToday.In November 18, 2019
The winter session of parliament is slated to begin today (Monday) with government lining up key economic bills for discussion. From Insolvency and Bankruptcy Bill to Taxation Law Bill, here is a list of important bills that are going to be up for debate in today's session.
1. The Companies (Second Amendment) Bill, 2019- This bill seeks to amend the Companies Act, 2013 to stiffen norms around corporate social responsibility compliance, lessen the load of cases in the National Company Law Tribunal (NCLT), decriminalise some offences and facilitate the ease of doing business.
2. The Insolvency and Bankruptcy (Second Amendment) Bill, 2019- The bill was introduced in Rajya Sabha by Finance Minister Nirmala Sitharaman on July 24, 2019. This bill is an amendment to the Insolvency and Bankruptcy Code, 2016 and aims at ensuring a time-bound process for settling insolvency in companies and among individuals.
3. The Multi-State Cooperative Societies (Amendment) Bill, 2019- This bill amends the Multi-State Cooperative Societies Act, 2002 and aims to rationalise the role of the government in working of multi-state cooperative societies and safeguarding the interest of depositors.
4. The Taxation Laws (Amendment) Ordinance, 2019- Taxation laws (Amendment) Ordinance proposes a tax rate cut from 30% to 22% for the existing companies and 25% to 15% rate cut for new manufacturing companies.
5. The Competition (Amendment) Bill, 2019- This bill aims to bring about structural changes in the governing framework of the Competition Commission of India (CCI). It also proposes to structure and expand CCI's activities by setting up regional offices across India.
6. Personal Data Protection Bill- This bill proposes to ensure protection and regulation of all elements of personal data and promote digital economy.