The Budget session of Parliament, which is scheduled to go on till April 8, is likely to be curtailed owing to the Assembly elections in Assam, West Bengal, Tamil Nadu, Kerala and Puducherry.
On Thursday, Lok Sabha is set to consider and pass Airports Economic Regulatory Authority of India (Amendment) Bill, 2021 while Rajya Sabha will consider and pass National Bank for Financing Infrastructure and Development Bill, 2021.
Here are the latest updates:
BJP MP Syed Zafar Islam speaks on the National Bank for Financing Infrastructure and Development Bill, 2021.
"This institution will have a dual role of financing and developing infrastructure. Since 2014, the PM Narendra Modi has been saying that he wants to build a new India. How will be such a new India be constructed?" he asks.
He says that China invests 50% of its GDP in fixed assets, which comes down to 8 trillion dollars. "We have to develop the modern infrastructure. The existing institutions engaging with financing infrastructure have many inherent issues and don't have have enough funds. They don't have long-term resources," says Mr. Islam.
Mr. Islam said that it is due to structural problems in the existing Development Financial Institutions that the NPAs rose. "Long term bond market needs to be developed. Going forward, we will be able to develop it," he says.
On solar energy parks near National Highways
Chandraprakash Joshi (BJP) asks a question on plans for solar energy parks near National Highways.
Union Minister for Roads and Highways Nitin Gadkari replies: The first solar lane on Delhi-Meerut highway saw the panels being stolen by people. So we have had some bad experiences, but we are learning from it. Wherever we find space we will encourage solar power.
Mr. Joshi asks if there are any specific proposals with regard to Rajasthan.
Mr. Gadkari replies: Not just in Rajasthan. We are encouraging solar parks across the country with one caveat... that the land next to NH may be used for broadening of roads. We have also had issues with environmental clearances with regard to forest land. But we will persist.
On promoting public transportation
Manish Tewari (INC) says that in the year 2021-2022, the government will earn lakhs of crores as krishi cess. On top of this, you are going ahead with the green tax. I suggest that we should spend more on MRTS, and provide footpaths, bicycle tracks wherever roads are built, he says.
Union Minister for Roads and Highways Nitin Gadkari replies: The member is right. In India, the population growth and growth of vehicles is proportional. Use of public transport is an obvious solution to discourage use of private vehicles. We are attempting to make Delhi-Mumbai highway as an e-highway... with this our logistical costs will come down by 70%. For us, first priority is waterways, second is railways, third is roads and last is airways, but road transport is increasing highest at 85%.
As for old National Highway roads neglected due to building of new bypasses... we have plans to white-top the roads and make bicycle tracks and places for old people to rest, says Mr. Gadkari.
Send Bill to Standing Committee, says Jairam Ramesh
Senior Congress MP Jairam Ramesh continues his speech on the National Bank for Financing Infrastructure and Development Bill, 2021.
"This Bill is an ambitious Bill. She [Finance Minister Nirmala Sitharaman] has provided it ₹20,000 crores. My question to FM is... this is a govt company. Huge resources are put in use... so why is there no oversight mechanism? It will not even come under ambit of CAG," he says. "You are creating an act in perpetuity without parliamentary oversight," he adds, noting that it is a highly undesirable state of affairs.
"What happens to the other organisations like LIC which is doing infrastructure financing? This govt. believes that foreign funding can built India's infrastructure... this has never happened," says Mr. Ramesh.
"The biggest challenge for us is to enhance the pool of infrastructure. We have to stimulate domestic saving and not be dependent on foreign funds," he says.
Mr. Ramesh concludes by saying that such a Bill should not be passed with just two hours of discussion and without sending to a select committee or a standing committee.
Bhola Singh (BJP) asks a follow-up question: "Will the green tax collected from particular areas be used for development of those areas?"
Union Minister for Roads and Highways Nitin Gadkari replies: The Constitution allows the Centre to impose tax only as principle. The rest of the details is in the hands of the State government.
Finance Minister Nirmal Sitharaman moves the National Bank for Financing Infrastructure and Development Bill, 2021 for consideration and passing.
Why are we going back in time, asks Jairam Ramesh
Senior Congress MP Jairam Ramesh says that the idea of a development bank is not new. The first such bank was established in 1948, he says.
"When the history of industrialisation in India is written, the role of IFCI, ICCI and IDBI will be crucial. We should recognise their role," he says, adding that in 1997, the Parliament passed the NABARD act, which led to the establishment of another finance institution.
"When Dr. Manmohan Singh presented his budget, he set up the Narsimhan Committee. The committee came to the conclusion that the era of Development Financing Institutions is over," he says.
"Thirty years after Dr. Singh presented the budget, we are turning back the clock," he says, adding "I want to ask the Finance Minister, why are we going back in time."
"This Bill is an ambitious Bill. She has provided it ₹20,000 crores. My question to FM is... this is a govt company. Huge resources are put in use... so why is there no oversight mechanism? It will not even come under ambit of CAG," he says. "You are creating an act in perpetuity without parliamentary oversight," he adds, noting that it is a highly undesirable state of affairs.
Rajya Sabha session begins.
Shripad Yesso Naik lays paper on the table.
The House applauds as he stands up to lay papers because he has returned after more than a month. He was on leave following a road accident in which his wife was killed. Mr. Naik himself was under treatment in ICU for many days.
Chairman Venkaiah Naidu reminds the House that as was previously agreed, no Question Hour or Zero Hour today.
Lok Sabha session begins with the Question Hour.
On green tax on old vehicles
Bhola Singh (BJP) raises a question on green tax on old vehicles. "There are nearly 250 buses in Bulandshahr which are under 10 years, rest all are older. Commuters will be inconvenienced if all are phased out. What solutions do you suggest?" he asks.
Union Minister for Roads and Highways Nitin Gadkari replies: We have held meetings on alternatives to fossil fuels, and for hydrogen based fuel as well as solar energy. As for solutions for old diesel buses in public transport... we have to look at it sensitively.
If diesel buses are retrofitted for CNG, the buses can run for a bit more time, he says.
Bill to amend law governing airport economic regulatory authority in LS
A bill which seeks to amend the law governing the airports economic regulator was introduced in the Lok Sabha on Wednesday.
The Airports Economic Regulatory Authority of India (Amendment) Bill, 2021 proposes to tweak the definition of "major airport" so as to extend its scope to determine the tariff for a group of airports.
The move, the government believes, will encourage development of smaller airports.
The Airports Economic Regulatory Authority of India has been determining the tariffs of aeronautical charges at major airports in the country.
Under the present Act, a "major airport" has been defined to mean any airport which has, or is designated to have, annual passengers in excess of 35 lakh. However, it does not provide for determination of tariff for a group of airports. - PTI
Lok Sabha
Bill for Consideration and Passing
- Airports Economic Regulatory Authority of India (Amendment) Bill, 2021
Rajya Sabha
Bill for Consideration and Passing
- National Bank for Financing Infrastructure and Development Bill, 2021