Wednesday, Mar 19, 2003
Wednesday, Mar 19, 2003 |
| National | ||
|
News:
Front Page |
National |
Southern States |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Advts: Classifieds | Employment | Obituary | National
By Our Special Correspondent
The Bill, which was introduced in Parliament in December 2001, had run into rough weather after a section of the MPs objected to the changes, even as another section welcomed it. As a result, the Parliamentary Standing Committee on Home Affairs, which examined it, failed to arrive at a consensus and the division was reflected in a report tabled by the panel in Parliament in July last year. The MPs were divided on both the issues. On open ballot, while one section felt that it was required because it would lessen the problem of cross-voting, the others argued that if the problem of money power had to be curbed, it would better to put checks on political parties from receiving funds in consideration for getting a member elected to the Upper House and not by doing away with the system of secret ballot. On the issue regarding residence, a section of members agreed that the current proviso that a person seeking election to the Rajya Sabha from any State should be a resident of that State acted as a hindrance to persons who may belong to more than one State occupationally and it was also not in consonance with the spirit of the Constitution which gave the right to move and reside anywhere in the country. Opposing this, the other section of MPs argued that the move would compromise on the federal nature of the Rajya Sabha. Briefing reporters after the Cabinet meeting, the Union Minister, Sushma Swaraj, said the Government would seek to have the Bill taken up for consideration in the current session of Parliament itself, after the recess break. The Cabinet also decided to amend the Banking Regulation Act to raise the ceiling for foreign equity in subsidiaries of foreign banks to 74 per cent from the present limit of 49 per cent and to allow voting rights in proportion to the shareholding instead of the current position where the voting right of the foreign participant was restricted to 10 per cent. Ms. Swaraj said the change in foreign equity had been decided upon since as per regulations, holding of at least 51 per cent share was required for a subsidiary of a foreign bank. The move is a follow-up to the announcement in this regard by the Finance Minister, Jaswant Singh, in his budget speech. The amendments would be introduced in Parliament during the current session. In addition, the Cabinet decided to reconstitute the Jallianwala Bagh National Memorial Trust with a view to providing representation to various political shades. The trust would now comprise the Prime Minister, the Union Home Minister, the Union Minister for Culture, the Leader of the Opposition in the Lok Sabha, the Governor and the Chief Minister of Punjab and three eminent persons nominated by the Central Government, of whom one would have to be from Amritsar. Under the existing provision, the trust comprised the Congress president, the Governor and the Chief Minister of Punjab and three persons nominated by the Central Government. In addition, at the time of its enactment in 1951, Jawaharlal Nehru, Saifuddin Kitchlew and Maulana Abul Kalam Azad were included as trustees for life.
Printer friendly
page
News:
Front Page |
National |
Southern States |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
|
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2003, The
Hindu. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu
|
