The Lok Sabha on August 9 passed three crucial Bills including The Limited Liability Partnership (Amendment) 2021 and The Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill, 2021, within minutes sans discussion amid uproar by Opposition leaders.
Finance Minister Nirmala Sitharaman moved for consideration and passing, the Limited Liability Partnership (Amendment) Bill, 2021. The Bill seeks to amend the Limited Liability Partnership Act, 2008 to facilitate greater ease of living to law-abiding corporate and to decriminalize certain provisions of the Act.
The Finance Minister said that the important Bill aims at bring in easy-of-doing business between smaller and big partners.
“Criminal offences will have to be brought down, make them compoundable as far as possible. We want to bring in parity between large companies and limited liability partnerships,” she said in Lok Sabha.
The Bill has already been passed in Rajya Sabha.
After this, the Finance Minister also moved The Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill, 2021 for consideration and passing. The Bill also referred to as DICGC Amendment Bill 2021 proposes three key changes that could vastly improve the working of deposit insurance. These changes, if passed into law, will add an extra dimension to the Centre’s landmark move last year to hike the insurance coverage for individual depositors in banks from Rs 1 lakh to Rs 5 lakh.
“98 percent of all the depositors will get up to Rs 5 lakh within 90 days. This will be effective from now, but the cooperative banks which have already come under the stress, even their depositors will benefit, they will get Rs 5 lakh within 90 days, “ Sitharaman said urging the Opposition members to participate in the discussion. But sloganeering continued and this Bill too was passed without discussion. This bill has also been passed in the Rajya Sabha.
The Lower House also passed The Constitution (Scheduled Tribes) Order (Amendment) Bill, 2021 after it was moved by Union Minister Arjun Munda quickly.
Congress leader Adhir Ranjan Chowdhury said that he wanted to congratulate the tribal communities on the occasion of International Day of the World's Indigenous People, but the government did not allow any discussion. Many other Opposition members said they supported the Bill but were against the manner in which the Bills were being passed without any discussions.
Union Parliamentary Affairs Minister Pralhad Joshi said the government welcomed all the discussions and was ready to debate throughout the day.
"I urge the protesting members to go back to their seats. You pass the Bill after discussion, we will take your suggestions under consideration," Joshi said. The Bill was also passed before the House was adjourned till 2 pm.