Budget Session Begins with 5 Bills, No Major Reforms

The first session of the 18th Lok Sabha, which ended earlier this month, was marked by heated arguments between the ruling party and the opposition on several topics.

Despite ongoing disagreements between the ruling and opposition parties, the upcoming Budget session of Parliament, starting Monday, will address 5 Bills but won’t cover major economic laws. The government says the Bill is designed to clear up confusion in the current law and include provisions that support manufacturing in the aviation sector, aligning with the ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives.

The first Budget session of the 18th Lok Sabha will take place from July 22 to August 12 and feature 16 meetings. In addition to the Finance Bill, the government has proposed five new Bills for discussion during this period. Finance Minister Nirmala Sitharaman will present the Economic Survey on Monday.

Bills to be Discussed

Disaster Management (Amendment) Bill, 2024 

The Union Budget for 2024-25 will be introduced on July 23. Among the 5 Bills to be discussed is the Disaster Management (Amendment) Bill, 2024, which aims to clarify and streamline the roles of various disaster management agencies.

The Bhartiya Vayuyan Vidheyak, 2024

The Bhartiya Vayuyan Vidheyak, 2024, will update the Aircraft Act 1934. It aims to clarify confusion, remove outdated rules, support aircraft manufacturing, improve business operations, follow international agreements, and meet global standards.

The Coffee (Promotion and Development) Bill, 2024

The Coffee (Promotion and Development) Bill 2024 aims to boost and grow the Indian coffee industry and update the Coffee Board’s operations.

The Rubber (Promotion and Development) Bill, 2024

The Rubber (Promotion and Development) Bill 2024 has a similar goal for the rubber industry and the Rubber Board.

The Boilers Bill, 2024

The Boilers Bill 2024 aims to replace and update the old boiler laws from the pre-independence era.

However, the government hasn’t listed any major legislative reforms for the Budget session, such as relaxing insurance rules, setting up a national financial information registry, or updating the Companies Act.

Some rating agencies worry that key economic reforms might take longer than expected. The first session of the 18th Lok Sabha, which ended earlier this month, saw intense debates between the ruling party and the opposition on various topics.

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