Budget Session Of Parliament: Energy Conservation, Pension Coverage On Agenda

As many as 15 bills are expected to be tabled in the upcoming budget session of the parliament.

The session will be held in two phases as five states go to polls, according to a parliamentary bulletin of the Rajya Sabha that was released on Monday. The first phase will be conducted between Jan. 31 and Feb. 11; while the latter is slated to start on March 14 and end on April 8.

The bills that are to be discussed in the upper house are:

Bill On Crypto And PSB Privatisation Missing

The statement has no mention of the 2019 Cryptocurrency Bill, amending from a total ban to regulating cryptocurrency. Similarly, the bill on privatisation of public sector banks also finds no mention. The bill was anticipated in the previously conducted winter session.

Similarly, the bill for privatisation of two public sector banks that was proposed in the last budget remains yet to be tabled.

Energy Conservation, Improved Pension Coverage, Warehousing Gain Mention 

The Energy Conservation Bill is expected to discuss carbon trading in India, encouraging penetration of renewables in energy mix and an effective implementation and enforcement of the Energy Conservation Act, 2001.

The bill follows India's recent COP-26 summit commitment to become net zero by 2070. India also aims to achieve a non-fossil energy capacity of 500GW by 2030 and meet 50% of its energy needs through renewables by then.

Other bills of interest include the amendment of Pension Fund Regulatory and Development Authority Act, 2013, to separate the National Pension System Trust from PFRDA and ensuring universal pension coverage announced in the 2020 Budget.

The Warehousing (Development and Regulation) Amendment Bill, 2022, is expected to strengthen the Warehousing Development and Regulatory Authority and help put in practice a scientific warehousing ecosystem.

Financial Business Of The Budget Session

The Union Budget for 2022-23 and its subsequent discussion remains the most awaited financial business on Feb. 1.

Other financial bills to be tabled include:

1. Consideration and return of the Appropriation Bill related to demands for grants for 2022-23.

2. Consideration and return of the related Appropriation Bill related to supplementary demands for grants for 2021-22.

3. Consideration and return of the related Appropriation Bill related to excess demands for grants for 2018-19.

4. General Discussion on Budget of Union Territory of Jammu & Kashmir for 2022-23.

5. Consideration and return of the related Appropriation Bill related to supplementary demands for grants of Union Territory of Jammu and Kashmir for 2021-22.

6. Consideration and return of the related Appropriation Bill related to demands for grants of Union Territory of Jammu and Kashmir for 2022-23.