Government Committees, Schemes & Bills - Current Affairs for February, 2016

Kerala under the umbrella of Compassionate Kerala or Kanivinte Kerala has introduced an initiative called Kanivu for helping the ill and those with acute mental disorders living in isolation. INR 100 crore has been earmarked for this project. Food, medicine and care will be provided to needy people through community participation via this initiative.

This law grants voting rights to people who became citizens of the nation following exchange of enclaves between India and Bangladesh. The LS Bill was introduced to amend Section 11 of the Delimitation Act 2002 and Section 9 of the Representation of the People Act 1950. Bill was then passed by voice vote. Following LBA enclaves were exchanged between the two countries

The Government of India has formed a Committee for Evolution of the New Education Policy’. The Committee consists of Shri T.S.R. Subramanian, Former Cabinet Secretary as the Chairman and Smt. Shailaja Chandra, former Chief Secretary, NCT of Delhi, Shri Sevaram Sharma, former Home Secretary, NCT of Delhi, Shri Sudhir Mankad, former Chief Secretary, Gujarat & Prof. J.S. Rajput, former Director, NCERT as members. Committee is set to draft a National Education Policy and Framework for Action.

Madhya Pradesh, Tamil Nadu, Rajasthan, Uttar Pradesh and West Bengal leading in the task of providing shelters for urban homeless under Deendayal Antyodaya Yojana ‘National Urban Livelihoods Mission (NULM)’ while Telangana, Andhra Pradesh and Mizoram are leading for functional shelters according to Minister of State for Housing and Urban Poverty Alleviation/HUPA. Under Shelters for Urban Homeless of this scheme, 75% of cost of construction of new shelters and restoration of old shelters was provided as central assistance by HUPA Ministry.
Of the 270 shelters for urban homeless in 9 States, Madhya Pradesh leads with 100 followed by West Bengal-37, Tamil Nadu-33, Mizoram-33, Telanagana-24, Andhra Pradesh-23, Maharashtra-14 and 3 each in Karnataka and Rajasthan.

Sections 2 and 14 of the Atomic Energy Act were amended as per the passage of the Atomic Energy (Amendment) Bill, 2015, which would enable Nuclear Power Corporation of India (NPCIL) to form joint venture companies with other Indian PSUs to meet the additional funding requirements for further expansion of our nuclear power programme, while simultaneously exercising Government control over such joint venture companies. Security of nuclear power plants is guarded by the Atomic Energy Regulatory Board through multi-tier reviews, apart from periodic regulatory inspections, to ensure adherence to these requirements.

The MPs will have to discuss 12 essential bills some of which are presented below:

• GST Bill-Gives concurrent taxation powers to the centre and states to levy a Goods and Services Tax, and creates a Goods and Services Tax Council.
• Real Estate Bill - Regulates transactions between buyers and promoters of real estate projects and sets up state level Regulatory Authorities to monitor it
• Lokpal Bill - Modifies the composition of the Selection Committee to include the leader of the single largest opposition party in the Lok Sabha, and the manner of declaration of assets of public servants.
• Anti-Hijacking Bill - Replaces the Anti-Hijacking Act, 1982. Defines hijacking and awards death penalty for hijacking in certain cases, such as death of hostage or security personnel.
• Whistle Blowers Protection (Amendment) Bill -Prohibits reporting of corruption related complaints that fall under 10 specified categories such as economic and scientific interests, cabinet proceedings and those within the ambit of the Official Secrets Act.
• High Court & Supreme Court Judges Bill -Seeks to ensure uniformity in pensions and other conditions of service of Supreme Court and High Court judges.
• Repealing and Amending Bill - Repeals 295 Acts which have ceased to be in force, and amends two Acts.
• Appropriation Acts (Repeal) Bill -Seeks to repeal 758 Appropriation Acts.
• Industries Amendment Bill -Excludes production of alcohol for potable purposes from the ambit of the Act.
• Bureau of Indian Standards Bill -Replaces the Bureau of Indian Standards Act, 1986. Seeks to establish BIS as the national standards body and mandatory standardisation of products.
• National Waterways Bill, 2015 - Replaces the five existing national waterways laws. Identifies additional 101 waterways as national waterways.
• Carriage by Air (Amendment) Bill - Allows the central government to revise liability limits of air carriers for compensation related to death, injury, and loss of baggage.

Union Minister of Steel & Mines Mr. N. Singh Tomar released a report on identifying 100 mineral exploration blocks at the 55th Central Geological Programming Board (CGPB) meeting of Geological Survey of India, Ministry of Mines at A.P. Shinde Symposium Hall, Indian Council for Agricultural Research, NASC Complex, Pusa in New Delhi today. NMEP or Draft National Mineral Exploration Policy has outlined a host of measures for increasing mineral exploration in the country such as increasing private investment.

RBI released the Apte Committee report which recommended that simple call and put options, caps, floors, collars and swaptions are to be permitted and there will be subsequent introduction of complex structures. OTC as well as exchange traded options may also be included. FIMMDA and FBIL will also come out with a list of eligible domestic money or debt market rates as benchmarks like G-Sec, T-Bills, MIBOR,OIS, MIFOR, IRF etc.

With the intention of promoting ease of performing business, RBI came up with 9 updated regulations under the Foreign Exchange Management Act/FEMA 1999. RBI has indicated that original notifications and coming amendments stand repealed. Revised regulations will have the same numbers as the old ones with the suffix R along with the year of publication. FEMA was enacted in 1999 and it had 25 original notifications.This act came into force w.e.f June 1, 2000.

Companies Law Committee put together in June 2015 has made recommendations on issues pertaining to implementation of Companies Act 2013 has submitted its report to GoI. Committee has proposed changes to 78 sections of the Companies Act 2013 which in tandem with consequential changes will lead to 100 amendments within the Act. Around 50 amendments to the rules have been put together. Recommendations cover areas such as definitions, raising of capital, accounts and audit, corporate governance, managerial remuneration, companies incorporated outside India and offences/ penalties.

GoI on 2nd February 2016 created a Tax Policy Research Unit and Tax Policy Council which would be chaired by the Union FM along with nine members. The members include Ministry of State for Finance, Niti Aayog Vice Chairman Commerce and Industry Ministry Revenue Secretary and Chief Economic Adviser. Finance Secretary as well as Commerce and Industry Secretary will also be members of this council. Council will be advisory in nature and locate key police decisions for taxation.