You are here: Home » Budget » Run-up » Economy
Business Standard

Ordinance issue: Tops officials to meet tomorrow

The government is especially under pressure to legislate the ordinance on insurance sector and the coal sector

Press Trust of India  |  New Delhi 

Image via Shutterstock

Racing against time to convert recent ordinances into legislations in session beginning on February 23, top officials of several ministries will sit together tomorrow to move forward in this direction.

Sources said that Secretaries and officials from the ministries of Home, Finance, Law, Rural Development, Steel and Mines, Agriculture, Coal and Surface Transport will be attendig a meeting convened by Parliamentary Affairs Ministry tomorrow to thrash out the blueprint of the legislations and the legalities involved.
Read our full coverage on Union Budget
Eight ordinances that the NDA government have brought in its over seven-month rule include those on coal, mines and minerals, e-rickshaws, amendment to Citizenship Act, Land Acquisition and the one on in insurance sector, which seeks to raise the limit in the insurance sector from 26 % to 49 %.
The government is especially under pressure to legislate the on insurance sector and the coal sector in view of the fact that the new systems in place for attracting in insurance and for auctioning of coal blocks are not disturbed.

As per the rules, an has to be converted into legislation within 42 days of commencement of Parliament session else it lapses. An can be repromulgated only three times.
A day after President Pranab Mukherjee voiced his objection to the 'route', senior ministers had on January 20 met to discuss how the recent Ordinances can be replaced by legislative action in the session of Parliament.
The meeting convened by Parliamentary Affairs Minister M Venkaiah Naidu was then attended by Home Minister Rajnath Singh, Finance Minister Arun Jaitley and six others, who had deliberated upon the implications that some sectors like coal will have if the Ordinances are not followed up by passage of bills in Parliament.
After the ministers'meeting, the Cabinet Committee of Parliamentary Affairs (CCPA) had met the next day and decided the schedule of the session.