Centre to Introduce 17 New Bills in Monsoon Session

New Delhi: The government is going to introduce 17 new Bills in the Monsoon Session of Parliament, which begins on July 19. With the much-awaited Cabinet reshuffle finally done and dusted, it is time for governance again.

The bills include changes in the Insolvency and Bankruptcy Code (IBC) replacing the Ordinance enabling prepackaged resolution schemes for micro, small, and medium enterprises (MSMEs) and allowing corporate debtors to propose a resolution plan for the stressed company.

Besides, the Centre will also introduce the Deposit Insurance Bill, increase insurance cover to Rs 5 lakh. However, the much-awaited crypto currency Bill has been delayed and is not listed in the Lok Sabha Bulletin of the session.

The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 (Crypto Bill), was earlier listed for the Budget Session but couldn’t be tabled as the session was truncated because of the second wave of Covid-19. However, sources said the government is yet to finalise the contours of the Bill and is still evaluating the framework. Of the 17 new bills lined up for the session are amendments in Limited Liability Partnership (LLP) Act, the Electricity Act and the Coal Bearing Areas (Acquisition and Development) Act, apart from others.

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