Published on Mon, Jul 26, 2010 at 22:09 | Source : CNBC-TV18
Updated at Tue, Jul 27, 2010 at 10:05
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Monsoon session of Parliament begins
The monsoon session, 2010 of Parliament commenced on Monday. The session, which is scheduled to conclude on Friday, August 27, 2010, will see several key economic legislations being introduced, debated and hopefully passed in the 24 sittings spread over a period of 33 days.
The monsoon session, 2010 of Parliament commenced on Monday. The session, which is scheduled to conclude on Friday, August 27, 2010, will see several key economic legislations being introduced, debated and hopefully passed in the 24 sittings spread over a period of 33 days, reports CNBC-TV18's Mehak Kasbekar.
In terms of the importance-the key economic legislation to look forward to in this session include the Bill to replace the controversial ULIP ordinance, the Constitutional Amendment Bill to usher in the Goods and Services Tax and the Direct Taxes Code Bill. The other important legislation include the amendment Bills for the Forward Contracts Regulation and the Companies Act.
Other important legislations include the tabling of the Essential Commodities (Amendment) Bill, an amendment to Labour Laws to exempt certain establishments from furnishing returns and the Mines and Minerals Bill.
The main financial business is the discussion and voting on the first Supplementary Demands for Grants for the year 2010-11 for the General Budget. The highlight of the first supplementary would the compensation to be awarded public sector oil companies, given that the under-recoveries for the first quarter of the current fiscal are pegged at around Rs 14,000 crore.
