Bill to Ex­tin­guish Notes In­tro­duced in Lok Sabha

Bill may be brought to RS as a Money Bill to en­sure its smooth pas­sage in Par­lia­ment

The Economic Times - - Pure Politics -

Our Po­lit­i­cal Bureau

New Delhi: Fi­nance min­is­ter Arun Jait­ley on Fri­day in­tro­duced a bill that will re­place the or­di­nance which the gov­ern­ment pro­mul­gated for ex­tin­guish­ing the re­called cur­ren­cies. Once passed by the rul­ing NDA-dom­i­nated Lok Sabha, the bill is ex­pected to be brought to the Op­po­si­tion-dom­i­nated Ra­jya Sabha as a Money Bill to en­sure its smooth pas­sage in Par­lia­ment. Rules do not per­mit the Ra­jya Sabha to de­bate or vote on a Money Bill and if the Up­per House fails to re­turn a Money Bill within two weeks, it is deemed as passed by the House.

The Spec­i­fied Bank Notes (Ces­sa­tion of Li­a­bil­i­ties) Bill states hold­ing, trans­fer and re­ceiv­ing of the re­called ₹ 500 and ₹ 1,000 notes will amount to a crim­i­nal of­fence pun­ish­able with a min­i­mum fine of ₹ 10,000. Tri­namool Congress mem­bers, who had been vo­cif­er­ously op­pos­ing the de­mon­eti­sa­tion de­ci­sion and all the more en­raged against the Cen­tre over the ar­rest of some of its MPs un­der an al­leged chit fund scam, ob­jected to the in­tro­duc­tion of the bill.

Par­tyMPSau­gataRoy­dubbedthe­bill was ‘il­le­gal’ by claim­ing the de­mon­eti­sa­tion de­ci­sion an­nounced by the prime min­is­ter had lacked the back­ing of an or­di­nance and that it should have do­neonly­bytheRe­serveBankof In­dia. In­the­p­ro­cess,Roy­al­so­got­in­toaver­bal spat with Jait­ley, when he claimed that the bill was be­yond the leg­isla­tive com­pe­tence of the Lok Sabha and that the min­is­ter, be­ing a mem­ber of the Ra­jya Sabha, was not fa­mil­iar with the rules of Lok Sabha. Aft e r Parl i a men­tary Af f a i r s Min­is­ter Ananth Ku­mar ob­jected to the Tri­namool Congress MP’s re­marks and pointed out Jait­ley was the wi n n e r o f the Out­stand­ing Par­lia­men­tar­ian Award, Jait­ley re­turned the com­pli­ment by telling the House and Roy in par­tic­u­lar that the se­nior Tri­namool Congress MP was wrong in many as­pects of his ar­gu­ment and as­serted that de­mon­eti­sa­tion no­ti­fi­ca­tion had fol­lowed the due process of law. Tak­ing at a dig at Roy, the fi­nance min­is­ter said, “it will add to his (Roy’s) par­lia­men­tary ex­pe­ri­ence since he is now get­ting to learn.”

Jait­ley then tabled the bill with the per­mis­sion of the Speaker and with the con­sent of the House.

Sau­gata Roy dubbed the bill was ‘il­le­gal’ by claim­ing note ban de­ci­sion lacked back­ing of or­di­nance

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