Representative image

NEW DELHI: Even as the state of the economy and the budget will be the centrepieces of the current session of Parliament, the government also plans to legislate on at least 28 other subjects during the budget session, some of which will be taken up when Parliament meets again following a recess.

Key legislations that are scheduled to come up include the Reserve Bank of India ( Amendment ) Bill, which seeks to allow the central board of the RBI to deploy forex reserves to invest in securities issued by non-sovereign institutions outside India. The government will also move the Banking Regulation (Amendment) Bill 2020, which seeks to strengthen the regulatory framework of cooperative banks.

In line with key changes in the financial sector, the government will move two amendments to the Companies Bill, one which will make way for structural changes to the governing structure of the Competition Commission of India, and a second amendment that seeks to decriminalise offences (prescribed under the existing Act) and facilitate the ease of doing business and the ease of living.

Another significant legislation that the NDA government will move in the budget session of Parliament is the Bilateral Netting Financial Contracts Bill 2020, which seeks to promote financial stability by enabling India to emerge as a leisure market for over-the-counter derivative products.

Other legislations that will be taken up during the current session include the Aircraft (Amendment) Bill, 2020, which aims to make the Indian aircraft industry in tune with the safety and security standards laid down by the International Civil Aviation Organisation (ICAO).

The National Police University Bill, to set up a university to train the police forces, and aimed at providing intense training, research, and development along with policy-making is also on the anvil. The university is expected to offer courses in police sciences, cyber forensics, risk management, and criminology. Aside from this, the government will also bring the National Forensic Sciences University Bill to set up an eponymous university, the Medical Termination of Pregnancy (Amendment) Bill, 2020, which was approved by the Union Cabinet last week, and the Mineral Laws (Amendment) Bill to replace the ordinance that was promulgated in January.

