March
3, 2016: Aadhaar Bill introduced as a Money
Bill in Lok Sabha, 5/20 rule in aviation policy
General Studies: Daily
Capsule
Curtain Raiser –News
Update (March 3, 2016)
Govt tables bill in Lok Sabha to give
statutory status to Aadhaar:
Finance Minister introduced the Aadhaar (Targeted Delivery of Financial and
Other Subsidies, Benefits and Services) Bill, 2016 in the Lok Sabha, which
seeks to make the use of Aadhaar mandatory for availing government subsidies
but at the same time tries to address concerns regarding privacy and protection
of personal information.
The bill
has been tabled as a money bill in Lok Sabha. The bill will provide statutory
backing to Aadhaar.
Features of a Money Bill:
--- Money
bills can be introduced only in the Lok Sabha
--- The
Rajya Sabha cannot make amendments to a money bill passed by the Lok Sabha and
can only make recommendations
--- The Rajya Sabha also has to return money bills
to the Lok Sabha within 14 days from the date of their receipt, thus ensuring a
time-bound process
--- Such
bills also cannot be referred to a joint committee of Parliament
What is a Money Bill?:
--- Under Article 110
(1) of the Constitution, a Bill is deemed to be a Money Bill if it contains
provisions dealing with six specific matters [Article 110 (1)(a) to (1)(f)]
broadly related to imposing, abolishing
or regulating a tax; regulating
government borrowings; the
Consolidated and Contingency Funds of India; and “any matter incidental to
any of the matters specified in (the previous six) sub-clauses… [Article
110(1)(g)]”. The expression “incidental to” makes the definition of a Money
Bill comprehensive.
--- If any question arises whether a Bill is a Money
Bill or not, Article 110(3) says, “the decision of the Speaker of the House of
the People thereon shall be final”.
(Source: http://www.livemint.com/Politics/77djKIxnDrQ9HVz2mxBGMI/Aadhar-Bill-introduced-as-a-money-bill-in-Lok-Sabha.html
, http://www.financialexpress.com/article/budget-2016/govt-tables-bill-in-lok-sabha-to-give-statutory-status-to-aadhaar-card-status/219054/
, http://indianexpress.com/article/explained/meaning-money-bill/
)
5/20
Rule and New Aviation Policy:
New Aviation Policy
will decide the fate of 5/20 rule.
What is 5/20 rule?:
--- The rule says an airline needs to fly five years in the
domestic market and have a fleet of 20 aircraft before it can fly abroad.
Who want 5/20 rule to stay:
--- Incumbent airlines IndiGo, SpiceJet, Jet Airways and GoAir
Who want 5/20 rule to go:
--- The two
new Tata airlines Vistara and AirAsia India.
Union Cabinet approved the 5/20 rule in December 2004
(Source: http://www.livemint.com/Politics/3PGUp7dpu9kBz67Ii2UIuO/Aviation-policy-to-be-implemented-from-April.html
, http://indianexpress.com/article/business/business-others/the-520-rule-to-abolish-or-replace/
Deciphering Budget speech:
M. Govinda Rao writes in his article titled ‘Wait for
the good days got longer’ in the Hindu dated March 3, 2016: “Although the
fiscal deficit is proposed to be capped at 3.5 per cent, there is additional borrowing by the special purpose vehicles for
infrastructure and that includes Rs. 31,300 crore to be mobilized by National
Highways Authority of India, Power Finance Corporation, Rural Electrification
Corporation, Indian Renewable Energy Development Agency and National Bank for
Agriculture and Rural Development.”
The Budget speech reads:
“To augment
infrastructure spending further, Government will permit mobilization of
additional finances to the extent of Rs. 31,300 crore by NHAI, PFC, REC, IREDA,
NABARD and Inland Water Authority through raising of Bonds during 2016-17.”
What is Public Sector Borrowing Requirement?:
--- Amount a government needs to borrow to cover its
expenditure
--- A government principally raises its money by taxes
and excise duties
--- If it has to spend more than the amount covered by
these sources, it must raise the rest by borrowing
--- To do this, it issues short-term and long-term
stocks and bonds, on which it pays interest
--- These loans form part of
the national debt.
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