HomeNewsPoliticsWill winter session be a washout for Modi-Jaitley reforms?

Will winter session be a washout for Modi-Jaitley reforms?

The main reason why legislation will not happen is our perennial election season – which will continue till February, when Delhi goes to the polls.

November 26, 2014 / 16:24 IST
Story continues below Advertisement

R JagannathanFirstpost.com

The winter session of Parliament, which started today (24 November), has a huge legislative agenda, but the ones most keenly watched will be the fate of the insurance bill (to raise FDI to 49 percent), the changes proposed to land acquisition, NREGA and labour laws (Factories Act and Apprenticeship Act), and the Coal Mines Nationalisation Act, which will have to be amended in order to comply with the Supreme Court decision to cancel all coal block allocated after 1994. In all, some 67 bills are pending in parliament for passing.

Story continues below Advertisement

Some newspapers seem to be suggesting that reforms may be round the corner. The Economic Times’ lead story in Mumbai today waxed eloquent with a headline that read: ‘Modi’s BULLet train set to roll out from Dalal Street’. This is an obvious pandering to market sentiment (note the BULL in the word bullet).  Firstbiz quoted Finance Minister Arun Jaitley as indicating that a whole raft of second generation reforms may be coming soon, with the insurance bill and the goods and services tax (GST) being his immediate focus areas.

My prediction is that the winter session will largely be a washout, and it is the budget session which may bring forth some forward movement on reforms.