Economy

Moily slams Govt for scuttling Parliamentary Committee system

K R Srivats New Delhi | Updated on January 09, 2018 Published on December 21, 2017

Senior Congress Leader Veerappa Moily. (file photo)

Senior Congress Leader Veerappa Moily on Thursday slammed the Modi-led Government for scuttling the Parliamentary Committee system and urged it to let the system work without politicising it.

Initiating the debate on the second batch of Supplementary Demand for Grants for 2017-18, Moily rued that the current dispensation had consciously been bypassing the Standing Committee to accomplish its legislative agenda.

In the last three-and-half years, only three Bills were referred to the Standing Committee (on Finance), while in the erstwhile UPA-II regime as many as 30 Bills were referred to this Standing Committee.

"We are a responsible Opposition. We are here to collaborate with the business of the House. Don't silence the Opposition. Don't politicise the committee system and let the committee system work", he said.

Asserting that the economy is in a "bad shape", Moily also said there is no hope that the fiscal deficit would be maintained within the targeted level of 3.2 per cent this fiscal.

FRDI Bill

Moily also came down on the Modi-led Government for the proposal to cover depositors' monies in the 'Bail-in' provision of the Financial Resolution and Deposit Insurance Bill.

"Except Cyprus no one has included deposits in Bail-in," he said, adding that the trust of depositors with banks will be affected if the Bill goes through.

Moily also felt that the FRDI Bill could have been referred to the Standing Committee on Finance instead of referring it to Joint Committee on Parliament. "With FRDI Bill, more panic will be created and there will be run on the banks," he said.

Srivats.kr@thehindu.co.in

Published on December 21, 2017
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