House finance panel submits 69 reports, defers one on note ban

NEW DELHI: The parliamentary standing committee on finance submitted a record number of 69 reports on different subjects but failed to produce one on the much-debated topic of demonetisation.

An agency report suggested that BJP MPS stalled the adoption of the contentious draft report as it was critical of the Modi government’s decision. BJP MP Nishikant Dubey, according to the report, wrote a dissent note which was supported by all other BJP members of the panel.

The panel chairman, Congress leader Veerappa Moily, however, said that the committee didn’t prepare its report as he felt that there was more discussion required on the subject.

“In our panel, we have always worked in a very democratic manner. On the issue of demonetisation, I felt we needed more discussions to arrive at the final report,” he said on Tuesday.

Moily, however, pointed out that the panel has delivered highest number of reports among all committees and all reports have been prepared in consensus.

The current panel held its last meeting on Monday as its term will be over on August 31. It will be re-constituted by September.

Another member of the panel who asked not to be identified said that while there was some talk of preparing a report, it didn’t go beyond a point as it was quite clear that MPS could get divided on partisan lines on the sensitive issue -- with one side claiming it was the biggest financial reform India has seen and the other that it hit small businesses hard. .

The NDA enjoys a majority in the panel which also has formed PM Manmohan Singh as its member.

THE PANEL CHAIRMAN SAID THERE WAS MORE DISCUSSION REQUIRED ON THE SUBJECT