Read on Twitter
Ok. Let's take the important ones. Too many bills were passed.
I'll keep adding to this thread. Can't really finish all in one go.
Most are economic. But a few are cultural.
I'll take the support of good articles that make my case with a brief summary. https://twitter.com/nimish4fk/status/1308779484376563712
I'll keep adding to this thread. Can't really finish all in one go.
Most are economic. But a few are cultural.
I'll take the support of good articles that make my case with a brief summary. https://twitter.com/nimish4fk/status/1308779484376563712
We will take the most contentious of them. There are three bills passed related to agriculture.
One amends the Essential commodities act. It takes the pricing control of very commonly used items like oil, pulses etc away from the Govt and gives it to the farmer.
One amends the Essential commodities act. It takes the pricing control of very commonly used items like oil, pulses etc away from the Govt and gives it to the farmer.
The duration of storage, levels of control and when and how to sell them was a control with govt. So a farmer would have to sell pulses at a very low price due to high supply bcoz storage beyond a limit was illegal. Now no such regulations.
The second and third are with respect to agro products marketing. Though liberalised to a great extent in many states, the fundamental and only avenue available for farmers for selling were what are called agriculture produce marketing companies. (APMC'S).
This monopoly has ended now at a National level allowing farmers to sell anywhere, to anybody and for whatever price. The price floor will still by and large be dictated by the Minimum price stipulation that MSP'S offer in APMC'S and govt procurement.
But to a good extent this market has freed itself. A farmer can sell less than the MSP of large quantities of he wishes to.
The marginally reduced burden on CPI is a less discussed topic. This article by @TheJaggi does allude to it. https://swarajyamag.com/politics/most-critiques-of-farm-reforms-are-bunkum-heres-how-to-make-them-work-for-all-stakeholders
The marginally reduced burden on CPI is a less discussed topic. This article by @TheJaggi does allude to it. https://swarajyamag.com/politics/most-critiques-of-farm-reforms-are-bunkum-heres-how-to-make-them-work-for-all-stakeholders
The two laws that achieve this together are called "The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Act, 2020" and "The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Bill, 2020."
The second of the two bills stated above defines the contracts for farmers while farming with private players. It's a form of quality assurance.
This article by @gchikermane in ORF is the best explainer on the Agri reform topic. https://www.orfonline.org/expert-speak/agriculture-reforms-ignore-political-rhetoric-embrace-prosperity-economics-73938/
This article by @gchikermane in ORF is the best explainer on the Agri reform topic. https://www.orfonline.org/expert-speak/agriculture-reforms-ignore-political-rhetoric-embrace-prosperity-economics-73938/
Then comes another very big reform. It's on the basic labor rules that govern the hiring processes in industries. A number of eases are provided to semi large scale industries on rules for hiring. It allows ease of firing also. It importantly allows women to work in factories
For extra shifts including night shifts. This was not allowed till we amended the labor codes today. The old restrictions to a large extent still apply for 300 hirees or more. Before that was 100. Also the number of contact workers to whom rules of hiring reduces has increased
From 25 to 50. Also a pet peeve of corporations regarding multiple licenses required for hiring from multiple locations has been converted nationally to a single license. It's a crude form of one nation one labour market.
The two articles that do the best justice in this topic are both from Swarajya.
https://swarajyamag.com/news-brief/indias-most-radical-rehaul-of-its-labour-laws-gets-parliamentary-approval-44-central-laws-subsumed-into-4-broad-codes (Rules explanation)
https://swarajyamag.com/economy/long-time-coming-a-modern-labour-code (An opinion piece by @karanbhasin95 ).
https://swarajyamag.com/news-brief/indias-most-radical-rehaul-of-its-labour-laws-gets-parliamentary-approval-44-central-laws-subsumed-into-4-broad-codes (Rules explanation)
https://swarajyamag.com/economy/long-time-coming-a-modern-labour-code (An opinion piece by @karanbhasin95 ).
One interesting thing is that the retrenchment rules for 300 employees is now deemed automatically approved. So if I file a permission, it's deemed approved after a certain number of days. It's the govt that has to block it.
Also the code offers for more govt action to offer
Also the code offers for more govt action to offer
Safety nets for informal employees on par with formal employees. Also the number 300 is a reinstated number. It was 300 before UPA brought it to 100. Now it's put back there.
Hence, one can argue the labor laws still don't go far enough.
Hence, one can argue the labor laws still don't go far enough.
The next main bill I'll discuss today is bilateral netting. It was mentioned in the Economy Survey of this year and a pet peeve of Sanjeev Sanyal sir. It is a basic method to ease up the amount of capital available for banks to lend. Before this was constrained by more rules
than what is there from today. (Or wherever the bill gets into law).
This article by the horses mouth, Mr. @sanjeevsanyal himself is the best Article on this regard. https://twitter.com/sanjeevsanyal/status/1308253215788392449?s=19
This article by the horses mouth, Mr. @sanjeevsanyal himself is the best Article on this regard. https://twitter.com/sanjeevsanyal/status/1308253215788392449?s=19
I've work to do tomorrow. So I'll continue this thread during breaks and other stuff and hopefully finish it by then. Good night for now. Sorry for posting an incomplete thread. By tomorrow or the day after, I wish to write the 'end' for it.
Three very important laws coming up.
Three very important laws coming up.
Ok. I'll finish one before I start work. The next one is a very important bill. It's primarily related to efficiency of ports. Basically our centrally managed ports are very poorly managed and ineffective. So we are decentralising and privatising it partially
It was again a pet peeve of Sanjeev Sanyal sir and an experiment conducted by the CEA for the economic survey of this year. We have very large turnaround times and take huge amounts of time waiting for ships to leave ports with huge regulations. So we are decentralising port
management in a PPP model. This ET article tweeted by Sanjeev sanyal sir alludes to it.
https://twitter.com/sanjeevsanyal/status/1308817382689783808?s=19
This lecture in the next tweet by Sanjeev sir on 36:00 minutes to 42 minutes alludes to it.
In the same lecture, there is a talk on netting also. Please check it.
https://twitter.com/sanjeevsanyal/status/1308817382689783808?s=19
This lecture in the next tweet by Sanjeev sir on 36:00 minutes to 42 minutes alludes to it.
In the same lecture, there is a talk on netting also. Please check it.
In fact. I suggest you watch the full video. It's a masterclass in explaining the "Modi Doctrine of economics" and how it is linked to our inextricable past.
The next law is in the next break. Goodbye.
Ok. Hope I'll finish this. But the next bill I'm discussing is about decriminalisation of companies act.
This is again a very important bill. It has the potential to increase both domestic and foreign investment.
It effectively makes running big companies more easier.
This is again a very important bill. It has the potential to increase both domestic and foreign investment.
It effectively makes running big companies more easier.
What it does is that reduces penalties and removes jail term for a significant number out of the many offences that the company act encompasses. It basically ensures small and medium term offences are civil in nature and not criminal. Also it offers a civil internal adjudication+
option called IMA to judge these offences with strict timelines thus reducing the burden on the courts. A very good Ease of Doing business step. Many people believe this can help us jump about 5 ranks in the World Bank Ease of Doing busines rankings.
This article cum podcast by business standard offers you the details. As you can see most of them are very weak and mid level offences. https://wap.business-standard.com/podcast/markets/all-you-need-to-know-about-the-companies-amendment-bill-2020-120092000712_1.html
We then move to a very important culturo-economic issue passed by Amit Shah. It's called the FCRA amendment 2020.
What does it do?
As we know there are many NGO's in India and they get money from foreign companies, individuals and organisations. They're administered by FCRA.+
What does it do?
As we know there are many NGO's in India and they get money from foreign companies, individuals and organisations. They're administered by FCRA.+
These NGO'S offer little on ground change but effect massive conversions to Christianity and they severely dampen development projects by holding a very narrow view and not allowing a holistic development project.
So their funding, it's routes, and the administration fees which form a substantial part of the donated money are more strictly regulated. It includes a cap in salary at 20% max. Aadhar cards usage, rules for govt employees etc etc.
The best and the most sound article on this is co-authored by the man who worked tirelessly on this topic: Suren and @by2kaafi
The article is attached here:
This article is a must read. https://www.opindia.com/2020/09/analysis-foreign-contribution-regulation-amendment-bill/
The article is attached here:
This article is a must read. https://www.opindia.com/2020/09/analysis-foreign-contribution-regulation-amendment-bill/
The last bill I'll talk about is a purely cultural but a pretty significant move.
It recognises Kashmiri as a language in Kashmir - yes you heard that right. Kashmir allowed only two languages - Urdu and English So many years Kashmiri was not a local language.
It recognises Kashmiri as a language in Kashmir - yes you heard that right. Kashmir allowed only two languages - Urdu and English So many years Kashmiri was not a local language.
Now post Abrogation, this is one major reform that was done and also possible to do. Now, Kashmiri, Urdu, Hindi and English and Dogri are added as official languages. A huge bill with many consequences and something that offers a better state recognition to the diversity of J&K.
This article by the Quint explains it clearly. https://www.thequint.com/news/india/cabinet-approves-jammu-and-kashmir-official-languages-bill
With this I end my thread stating all the important bills passed by parliament in this session. It was an incredible good record of legislative performance. Almost 163%.
