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Saturday, December 9, 2023

This Winter Session Could See A Bill To Decriminalise 110 Economic Offences

New Delhi: The government of India is mulling to introduce a Bill that will decriminalize as many as 110 archaic provisions spread across 35 laws, relating to 16 ministries and departments, the Financial Express reported quoting official sources.Also Read – 'Minister A Criminal': Opposition Demands Ajay Mishra's Resignation Over Lakhimpur Kheri 'Murder'

On August 11, India.com had reported that very soon Modi government is likely to bring a law that decriminalises several provisions of the various central and state laws in India which are hindering growth of businesses. We can expect this bill to be introduced during the Winter Session of the Parliament. Also Read – Highlights of the Day: 'Honoured And Humbled,' Parag Agrawal on Being Named New Twitter CEO

On Monday, Prime Minister Narendra Modi said his government, since 2014, has scrapped 2000 obsolete laws from the colonial era that sent industrialists to jail over minor issues and had improved India’s ranking in ease of doing business index considerably. Also Read – Breaking News Highlights: Cumulative COVID-19 Vaccine Coverage Crosses 122 Crore: Govt

“There was no mention of ease of doing business earlier…compared to efforts put in by my government. We changed the laws and the system legally which helped in improving India’s ranking. When I became Prime Minister (in 2014), India was ranked 142 (in ease of doing business list). We worked hard for 5 to 6 years and we reached the 63rd position. “If we push hard, we will go below-50. Such a massive improvement is not confined only on papers….small businesses are helping improve things on the ground,” the PM said.

In the new Bill that’s likely to be tabled in this Winter Session, according to FE, some of the legislations that are proposed to be tweaked are:

  • The Motor Vehicles Act
  • Pharmacy Act, 1948
  • Indian Post Office Act, 1898
  • Boilers Act, 1923
  • Copyright Act, 1957
  • Government Securities Act, 2006
  • High Denomination Banknotes (Demonetisation) Act, 1978
  • Public Debt Act, 1944; Food Corporations Act, 1964
  • Warehousing Corporation Act, 1962
  • Deposit Insurance and Credit Guarentee Corporation Act, 1961
  • Factoring Regulation Act, 2011
  • National Bank For Agriculture and Rural Development Act, 1981
  • National Housing Bank Act, 1987
  • Agricultural Produce (Grading and Marketing) Act,1937

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