UPA to revive 3 reform Bills

The United Progressive Alliance (UPA) government wants to revive three key reform Bills during the Winter Session of Parliament which were in cold storage for long due to pressure from the allies. Parliamentary Affairs Minister Pawan Bansal said the Banking Laws (amendment) Bill, the Forward Contract Regulation (amendment) Bill and the Land Acquisition Bill will be among 31 Bills to be introduced in the House.

After a meeting with secretaries of various ministries, Bansal added that the government would also press for the Companies (second amendment) Bill and Mines and Minerals (development and regulation) Amendment Bill during the Session.

However, the Bills on food security and Goods and Services Tax will not debut as the government hasn’t been able to build a consensus on the issues. The first UPA had stalled the Banking and the Forward Contract Bill as the Left parties, then supporting the government from outside, were opposed to the changes. The Land Acquisition Bill had to be withdrawn at the last moment in the Monsoon Session of 2009 as the Trinamool Congress, the second-biggest constituent in the second UPA, raised its red flag to the Bill.

The proposed amendments to the Forward Contract (Regulation) Act, 1952 are aimed at enabling the commodities market regulator FMC become an autonomous body.

The government will also introduce the contentious Enemy Property Bill and the Labour law Bill in new forms.