Report Wire

Tag: parliament live

  • Post-Covid financial system won’t merely be re-inflation of pre-Covid financial system: Economic Survey

    It said that supply-chain breakdowns triggered an interruption of the financial system’s supply-side which additionally squeezed demand, however it’s not right to see the pandemic associated financial slowdown as only a demand downside.
    “…the post-Covid economy will not be merely a re-inflation of the pre-Covid economy. Simply building it back with demand measures is not a solution,” it mentioned.

    The emphasis given to the supply-side in India’s COVID-19 response is pushed by two vital issues: first, Indian policymakers noticed the disruptions attributable to travel-restrictions, lockdowns and supply-chain breakdowns as an interruption of the financial system’s supply-side. “Although this also squeezed demand, it is not correct to see the pandemic related economic slowdown as just a demand problem as happens with most economic cycles,” it mentioned. Second, the post-Covid world shall be impacted by all kinds of things – adjustments in expertise, client behaviour, geo-politics, supply-chains, local weather change, it added.

    The Survey has flagged dangers from rising inflation from each a tighter international liquidity situation and trade charge volatility in international foreign money. “In 2021, inflation picked up globally as economic activity revived with the opening up of economies. Inflation in the US touched 6.8 per cent in November 2021, the highest since 1982, driven largely by energy and food prices. As inflation worries are mounting, a distinct shift towards the unwinding of pandemic-led stimulus is taking hold. This may result in tightening of financial conditions, adversely affecting capital flows, putting pressure on exchange rate and slowing down growth in emerging economies,” it mentioned.

    Highlighting the divergence between wholesale and retail inflation, it mentioned imported inflation is an issue and must be taken into consideration. The excessive WPI-based inflation charge in 2021 is essentially attributable to the low base of the previous 12 months, whereas retail inflation that had remained excessive throughout 2020-21 as a result of provide chain disruptions and excessive meals inflation moderated in 2021-22 on account of efficient provide aspect administration, leading to a divergence between WPI and CPI primarily based inflation, it mentioned. “…unanticipated increase in energy prices and emergence of industrial input cost pressure and high freight costs led to a sharp spike in WPI inflation in 2021. This was reflected in high WPI inflation in the fuel group and manufactured sector during the year. Thus, while on the one hand, low food inflation pulled down CPI, on the other hand high energy and input prices pulled up WPI based inflation rate,” it mentioned.

    The Survey additionally said that the stability of dangers for international commerce is tilted to the draw back, with the largest danger from the pandemic, notably with resurgence of recent variants corresponding to Omicron. In addition to the surge in international inflation, longer port delays, increased freight charges, scarcity of transport containers, scarcity of inputs corresponding to semiconductors, with supply-side disruptions being exacerbated by restoration in demand, pose important dangers, inter alia, for international commerce.
     

  • Economic Survey 2022 Live Updates: Economic Survey 2021-22 to be tabled in Parliament right this moment

    Economic Survey 2022 Live Updates: The Budget Session of the Parliament will begin right this moment with President Ram Nath Kovind addressing each the homes. Thereafter Finance Minister Nirmala Sitharaman will desk the Economic Survey 2021-22.
    The Economic Survey is an annual doc ready by the Ministry of Finance beneath the steering of the Chief Economic Advisor (CEA) and it gives a abstract of annual financial improvement throughout the nation in the course of the monetary 12 months 2021-22.
    The authorities on Friday appointed Dr. V Anantha Nageswaran as the brand new CEA including in a press release that he has assumed cost. He changed KV Subramanian whose three-year time period led to December.

  • Parliament Monsoon Session Live Updates: Rahul Gandhi requires ‘Opposition unity’ to face agency in opposition to BJP, RSS

    As the logjam in Parliament continued over the Pegasus snooping problem, Defence Minister Rajnath Singh on Monday spoke to Leader of Opposition in Rajya Sabha Mallikarjun Kharge and sought his cooperation to finish the deadlock. With the federal government not agreeing to a debate on Pegasus, the Opposition signalled that it was hardening its place and is drawing up plans to step up its offensive in opposition to the federal government.
    The Opposition leaders — from as many as 17 events from each Houses — will meet over breakfast on Tuesday on the invitation of senior Congress chief Rahul Gandhi to strategise on their subsequent plan of action. Sources mentioned that some events have proposed that the MPs maintain a mock session within the Parliament premises to focus on what they referred to as the stifling of their voices inside the 2 Houses.

    Rocked by protests from opposition events on Pegasus snooping and different points because the begin of the Monsoon session, Parliament has solely functioned for 18 hours out of the scheduled time of 107 hours, leading to a lack of greater than Rs 133 crore of taxpayers’ cash, authorities sources mentioned on Saturday.
    Sources mentioned up to now 89 hours have been wasted within the ongoing session which began on July 19 and is scheduled to conclude on August 13.
    According to the small print shared by official sources, whereas Rajya Sabha has functioned for practically 21 p.c of its scheduled time, Lok Sabha has managed to operate for lower than 13 p.c of the scheduled time.

  • Parliament Monsoon Session Live Updates: RS leaders of ‘like-minded’ Opposition events to fulfill at 10:15 am as we speak

     
    At least a dozen non-TMC Opposition MPs within the Rajya Sabha are mentioned to have supplied to depose in opposition to Union Minister Hardeep Puri in defence of TMC MP Shantanu Sen who was suspended from the House for tearing up Union Minister Ashwani Vaishnaw’s assertion on the Pegasus subject.
    On that day, July 22, there was a heated alternate between Sen and Puri after which the TMC MP alleged that he was summoned by the Union Minister in a “bad manner”.
     

    With the Pegasus row disrupting Parliament for the ninth straight day, sources mentioned on Friday that the federal government is “seriously considering the curtailment of the Monsoon Session”.
    The session, which started on July 19, was to go on till August 13.
    “The government is ready to discuss every people-related issue in Parliament, but the Opposition does not want that. It’s a complete waste of money and time,” a minister mentioned. He added that the “looming Covid threat… with many areas reporting cases” would even be an element if the federal government decides to wind up the session

  • From IBC Amendment to Juvenile Justice Amendment: Amid din, Parliament clears vital payments with out debate

    Amid protest by Opposition leaders, the federal government pressed forward with legislative enterprise, passing a number of important payments with out dialogue. Over the final week, each Rajya Sabha and Lok Sabha witnessed a sequence of adjournments as Opposition MPs raised slogans demanding discussions on the Pegasus snooping scandal, the Centre’s contentious farm legal guidelines, inflation and several other different points.
    Despite the deadlock between the federal government and Opposition, the Lok Sabha on Wednesday handed the Insolvency and Bankruptcy Code (Amendment) Bill, 2021 with out dialogue. When the names had been referred to as of 20 Opposition members who had given notices for a statutory decision looking for disapproval of the invoice, the leaders didn’t reply as they’d gathered within the Well of the House. Later, the invoice was handed.

    The invoice is about to switch the IBC Amendment Ordinance 2021 promulgated in April which launched pre-packs as an insolvency decision mechanism for micro, small and medium enterprises (MSMEs) with defaults as much as Rs 1 crore.
    Even as protests intensified, Lok Sabha speaker Om Birla was in a position to maintain Question Hour. However, as quickly as Rajendra Agarwal changed him within the Chair, the protests bought louder and a few Opposition leaders began tearing up papers and throwing them within the air. The Treasury benches later demanded motion towards the MPs answerable for inflicting the disruption.
    Meanwhile within the Rajya Sabha, the Juvenile Justice Amendment Bill, 2021, too, was handed in lower than half-an-hour amid protests with none deliberation or debate. The invoice goals to expedite the adoption course of by transferring the facility to difficulty adoption orders from civil court docket to the district Justice of the Peace.

    On Monday, the Lok Sabha handed the Factoring Amendment Bill and National Institute of Food Technology Bill in the identical method. Soon after the invoice was handed in 12 minutes, the National Institute of Food Technology Entrepreneurship and Management Bill, piloted by the brand new meals processing minister Pashupati Paras, was taken up and later handed in simply 7 minutes.
    The Monsoon Session of Parliament has witnessed protests as the federal government and the Opposition sparred over the Pegasus controversy and quite a few different points.

  • Parliament Monsoon Session Live Updates: Impact of Covid-19 on MSME sector up for dialogue in RS in the present day

    The Lok Sabha on Monday witnessed uproarious scenes and repeated adjournments as Opposition members protested over the alleged snooping and farmers’ points. Amid the din, the treasury benches managed to go two Bills and introduce one.
    The Lok Sabha handed the Factoring Regulation (Amendment) Bill, 2021 – aimed toward serving to MSMEs tide over issues of delayed funds because it seeks to broaden the participation of entities endeavor factoring – and the National Institutes of Food Technology, Entrepreneurship and Management Bill, 2021, to declare sure establishments of nationwide significance.

    BSP has been protesting in Parliament towards the farm legal guidelines. Although the occasion has criticised the alleged snooping, it didn’t be part of the Congress or TMC of their protests over it. BSP MP Ritesh Pandey speaks to The Indian Express about this:
    BSP was among the many protesting MPs, what had been you protesting towards?
    We are protesting towards the three farm legal guidelines. We consider they need to be revoked as a result of they won’t profit farmers and had been introduced with out due session with farmers.
    Why have you ever determined to affix SAD?
    We have a coalition in Punjab. They are our companions and these points are important to our events. We are focussed on assuring the farmers that they’re heard.

  • Parliament Monsoon Session Live Updates: Both Houses reconvene right this moment, key payments lined for dialogue

    TMC MPs show placards as they stage a protest over the difficulty of surveillance in the course of the Monsoon Session of Parliament (PTI)
    PM should make assertion in Parliament: Chidambaram on Pegasus row
    Senior Congress chief P Chidambaram on Sunday stated the federal government ought to both name for a joint parliamentary committee probe into the Pegasus snooping allegations or request the Supreme Court to nominate a sitting decide to research the matter, and demanded that Prime Minister Narendra Modi make a press release in Parliament clarifying whether or not there had been surveillance or not.
    TMC MP is suspended, Naidu says his conduct assault on democracy
    With the BJP Government not yielding to the demand for a dialogue on the Pegasus spyware and adware telephone hacking scandal and the Opposition remaining agency on solutions from it, Parliament remained stalled for the fourth day Friday. In the Rajya Sabha, Trinamool Congress MP Santanu Sen who tore IT Minister Ashwini Vaishnaw’s assertion Thursday was suspended for the remaining a part of the session, resulting in extra uproar.
    Divided Opp exhibits up at Pegasus protest in Lok Sabha
    Lok Sabha was adjourned with out transacting any main enterprise as a consequence of disruptions, largely over the Pegasus snooping allegations, for the fourth consecutive day on Friday. However, the opposition events but once more remained disunited of their protests, failing to coordinate and construct an offensive which will carry the Treasury benches below strain.
     
     
     
     

  • Parliament Monsoon Session Live Updates: Proceedings to renew amid farmers’ protest at Jantar Mantar in the present day

    Prime Minister Narendra Modi arrives on the Parliament to handle the media on the primary day of the Monsoon Session on Monday. (Photo: PTI)

    The Centre on Tuesday informed the Rajya Sabha that no deaths attributable to lack of oxygen had been “specifically reported” by states and union territories in the course of the second Covid-19 wave that hit the nation.
    “All states and UTs report cases and deaths to the Union Health Ministry on a regular basis. However, no deaths due to lack of oxygen have been specifically reported by states and UTs,” she stated.
    Shortly after the assertion by the Centre was made in a written reply by the Minister of State for Health Bharati Pravin Pawar, AICC General Secretary Okay C Venugopal accused the minister of getting “misled” the home. Describing the assertion as “condemnable”, Venugopal, a Rajya Sabha MP to whose query the reply was given, stated he’ll transfer a privilege movement towards the minister.
    Snooping row dominates Day 2 proceedings as Oppn calls for JPC probe
    Protests over the Pegasus snooping row dominated the Lok Sabha proceedings on the second day of the Monsoon session of Parliament, resulting in continued disruptions and repeated adjournments of the House on Tuesday.
    As quickly because the House met for the day at 11 am, Opposition members, together with from the Congress and the TMC, raised slogans and confirmed placards to assault the federal government on the snooping problem. The proceedings lasted for barely 5 minutes because the House was adjourned.
    One of the placards, written in Hindi, learn that whereas persons are affected by unemployment, the federal government is busy with “jasoosi” (spying). The identical scene was witnessed when the House reassembled at 2 pm and was later adjourned until 11 AM on July 22.

  • Parliament Live Updates: Finance Minister Nirmala Sitharaman to maneuver the NBFID Bill, 2021 in Rajya Sabha

    The controversial Government of National Capital Territory of Delhi (Amendment) Bill, 2021, which seeks to make the Lieutenant Governor of Delhi equal to the Delhi authorities, was handed in Parliament Wednesday with the Rajya Sabha giving its nod — however not earlier than it grew to become a rallying level for the whole Opposition and noticed regional events uniting in a uncommon pushback in opposition to what they referred to as an overweening Centre.
    As many as 12 Opposition events in Rajya Sabha and 9 in Lok Sabha opposed the Bill. Outside the House, Delhi Chief Minister Arvind Kejriwal, who had slammed the Bill earlier as a transfer to undermine his authorities, described its passage as a “sad day” whereas Deputy CM Manish Sisodia referred to as it a “black day” for democracy.
    In Rajya Sabha, 16 MPs from 14 events participated within the dialogue. In a present of unity, representatives from Congress, AAP, TMC, BJD, DMK, YSRCP, SP, CPI(M), Shiv Sena, SAD, TDP and NCP opposed the Bill, leaving solely the BJP and ally RPI (A) in its favour. Boosting the Opposition ranks, YSRCP, which supported the Bill within the Lok Sabha, opposed it within the Upper House.

  • Parliament Live Updates: Manish Tiwari provides adjournment movement in Lok Sabha over Myanmar refugees

    Navneet Rana (Left), Navneet Rana, Independent MP from Amravati; Arvind Sawant, Shiv Sena MP from South Mumbai.

    NAVNEET RANA, an Independent MP from Amravati, on Monday wrote to Lok Sabha Speaker Om Birla, alleging that Shiv Sena MP from South Mumbai Arvind Sawant threatened her within the Lok Sabha foyer after she talked about about suspended police officer Sachin Waze, arrested within the alleged homicide of Mansukh Hiran, and raised the problem of corruption fees levelled towards Home Minister Anil Deshmukh by IPS officer Param Bir Singh. Sawant, nonetheless, referred to as her allegations “baseless”.

    Lok Sabha on Monday handed the Insurance (Amendment) Bill, 2021, which seeks to lift the restrict of Foreign Direct Investment within the insurance coverage sector from the present 49 per cent to 74 per cent.The Bill was handed by the Rajya Sabha on March 17. Finance Minister Nirmala Sitharaman stated that the Centre has give you this Bill solely after “due consultations”.

    A Bill to change the listing of Scheduled Castes in Tamil Nadu by grouping seven castes which presently exist as separate was handed by Rajya Sabha Monday after clearing Lok Sabha Friday.
    Moving The Constitution (Scheduled Castes) Order (Amendment) Bill, 2021, Minister for Social Justice and Empowerment Thaawarchand Gehlot stated seven sub-castes can be encompassed below Devendrakula Vellalar with the exclusion of the Kadian group in sure listed districts. He stated this has nothing to do with the elections.