Money & Banking

Banking, pension Bills will be taken up in Budget session: Pranab

Our Bureau New Delhi | Updated on November 14, 2017 Published on March 19, 2012

The Finance Minister, Mr Pranab Mukherjee (left), with the RBI Governor, Dr D Subbarao, and the Finance Secretary, Mr R. S. Gujral, at the post-Budget meeting with Directors of the Central Board of the Reserve Bank of India in theCapital on Monday. — Photo: Ramesh Sharma   -  Business Line

The Finance Minister, Mr Pranab Mukherjee, said that crucial pieces of legislation such as the Direct Taxes Code, the Bill for creating a pensions regulator and banking reforms are likely to be taken up for consideration and passage during the second leg of the current Budget session.

Mr Mukherjee also hinted at hiking diesel and cooking gas (LPG) prices after the Budget session

Addressing newspersons after the post-Budget board meeting of the Reserve Bank of India, Mr Mukherjee said, “After the Budget session of Parliament is over, I shall discuss with various State governments, Chief Ministers, leaders of political parties and try to work out an overall mechanism through which we will be able to deal with some of the crucial issues for which the collective support of all stakeholders are called for.”

He was replying in response to a query on what steps were being taken to contain fuel subsidy, following hardening global oil prices.

Mr Mukherjee also said that the Government aims to bring those pieces of legislation where the Standing Committee on Finance has given its reports, for consideration and passage during the second leg of the Budget session starting April 24.

The Committee has given its report on, among others, the Direct Taxes Code, the Pension Bill, the Insurance Bill and the Banking Bill.

He has also requested the Chairman of the Standing Committee, Mr Yashwant Sinha, to give a report on the Constitutional Amendment for the introduction of the Goods and Services Tax during the monsoon session.


Published on March 19, 2012

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