The event was attended by Prime Minister Narendra Modi, former prime ministers Manmohan Singh and H D Deve Gowda, Lok Sabha Speaker Sumitra Mahajan, Finance Minister Arun Jaitley and Rajya Sabha Deputy Leader of Opposition Anand Sharma.
The long-pending indirect tax reform Goods and Services Tax (GST) Constitutional Amendment Bill was passed by the Rajya Sabha yesterday.
Overall, if the exit polls are accurate, then the state election results could marginally improve the BJP‘s seat tally in the Upper House, but the government will need to continue to build a consensus to push through legislative reforms in the Upper House, says Nomura
In the case of defaults or delays, the same rate of interest will be levied for promoters as well as buyers. The Bill also seeks to establish fast track dispute resolution mechanism
On its party, government has listed GST along with six other bills in Rajya Sabha for next week. Six bills have been listed in the Lok Sabha.
Prime Minister Narendra Modi had yesterday announced that the government will not re-promulgate the controversial Ordinance on Land Acquisition which expires on Monday and declared readiness to incorporate any suggestion in the bill, which is pending in Rajya Sabha.
The minister was speaking on the sidelines of a party initiative to reach out to people to explain to them about what happened during the recently concluded Monsoon Session of Parliament.
The constitution amendment bill for roll out of Goods and Services Tax (GST) has been passed by Lok Sabha, and has to be now cleared by Rajya Sabha, where the government does not enjoy majority of its own.
While pegging India's true growth potential at near 10 percent, Moody's also warned that "GDP growth is not likely to rise above 7.5 percent if the government continues to over-promise and not deliver".
Moody's Analytics, an economic research unit of Moody's Corp, also raised a red flag over the Parliament logjam and said it is denting business confidence as key reform bills like land and GST are stuck.
The Cabinet on Wednesday approved amendments to the GST bill to compensate states for revenue loss for five years on introduction of the uniform nationwide indirect tax regime, as has been suggested by Rajya Sabha Select Committee.
Prices of pulses have increased by up to 41 percent in retail markets during the last one year on decline in production due to account of adverse weather conditions, the government on Friday informed Parliament.
India, world's third largest steel producer, had imported 3.7 LT of stainless steel in 2013-14, showed data presented by Minister of State for Steel Vishnu Deo Sai in the Rajya Sabha.
The landmark bill on GST on Wednesday won majority support of the Rajya Sabha Select Committee, which endorsed almost all the provisions while also agreeing to demands of parties like TMC for a five-year compensation to states.
The Rajya Sabha approved 24 amendments relating to 16 issues. It also passed the Companies Act Amendment Bill. The Lok Sabha, where the ruling NDA has brute majority, passed the GST Constitutional Amendment Bill and the Land Acquisition Bill. However, both these Bills have been sent to panels or committees in the Rajya Sabha,
The death of farmer Gajendra Singh, who hanged himself from a tree during Aam Aadmi party's anti-Land Bill rally in New Delhi on Wednesday, dominated debate in Parliament on Thursday.
Parliament will reconvene on Monday after a month and the government faces the mammoth task of getting the re-promulgated land ordinance converted into legislation, the task they couldn't achieve in the first part of the Budget session due to stiff opposition in the Rajya Sabha where it struggles with numbers.
Janata Dal (U) President Sharad Yadav today noted that NDA government's "controversial land acquisition bill" will be rejected by the opposition in Upper House of the Parliament.
The bill on Land Acquisition, which provides for amending the Act of 2013, was passed by Lok Sabha during the first half of the session but it got stuck due to opposition in Rajya Sabha where ruling NDA is woefully short of numbers
If these bills are not cleared today, the government will extend the ongoing first half of the Budget session by a couple of days.
The Coal Ordinance which was re-promulgated in December would lapse on April 5. "Whatever action has already been taken is deemed to be valid, so we would have completed all our actions before April 5. As far as ongoing auction process is concerned nothing will get impacted.
According to sources, the party will evolve its strategy on the land acquisition bill only after assessing the response of various parties on the passage of two bills on mines and coal that were sent to the Select Committees of Rajya Sabha. The bills on mines and coal will come up tomorrow in the Upper House.
The first half of the session is otherwise slated to end on March 20. The Cabinet Committee on Parliamentary Affairs, which met here on Tuesday, decided to hold two additional sittings on Monday and Tuesday "if required" to pass the two bills.
The Insurance Laws (Amendment) bill, 2015, seeks to replace an ordinance issued by the government earlier, which had come under sharp attack from various quarters. The bill seeks to amend the Insurance Act, 1938 and the General Insurance Business (Nationalisation) Act 1972 and the Insurance Regulatory and Development Authority Act, 1999.
The Insurance Laws (Amendment) Bill, 2015, seeking higher foreign equity participation in Indian insurance companies, was introduced in the Lok Sabha today although it is still pending in Rajya Sabha.