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Budget 2012: Govt to introduce 7 financial reforms Bills

Source: PTI
Last updated on: March 16, 2012 18:00 IST
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Pushing the financial reforms agenda, the government plans to introduce as many as seven Bills in the Budget session, including the one for development and regulation of micro finance institutions.

Presenting the Union Budget for 2012-13, Finance Minister Pranab Mukherjee said the government proposes to move various legislative Bills related to financial sector reforms.

He said the government proposed to move the following Bills in the current session: Micro Finance Institutions (Development and Regulation), National Housing Bank (Amendment), Small Industries Development Bank of India (Amendment), National Bank for Agriculture and Rural Development (Amendment), Regional Rural Banks (Amendment), Indian Stamp (Amendment) and Public Debt Management Agency of India.

Parliament would also take up various long-pending
Bills in the current session.

Mukherjee said government has received recommendations of the Standing Committee on Finance regarding three Bills. They are 'Pension Fund Regulatory and Development Authority Bill 2011', 'The Banking Laws (Amendment) Bill 2011' and 'The Insurance Laws (Amendment) Bill 2008'.

"The official amendments to these Bills will be moved in this session of Parliament," Mukherjee said.

The government has already introduced the Enforcement of Security Interest and Recovery of Debt Laws (Amendment) Bill 2011.

The Budget session of Parliament is expected to conclude on May 22.

Union Budget 2012-13: Complete coverage
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