The Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, and The National Commission for Allied and Healthcare Professions Bill, 2020 were introduced in Rajya Sabha. The IBC Bill replaces an Ordinance which temporarily suspends initiation of the corporate insolvency resolution process for six months starting from March 25, 2020. (This can be extended up to one year).

The Aircraft (Amendment) Bill, 2020 was then taken up for consideration and was subsequently passed in the House. This Bill gives statutory recognition to the Directorate General of Civil Aviation, the Bureau of Civil Aviation Security, and the Aircraft Accidents Investigation Bureau. The Bill was passed by Lok Sabha in March 2020.

In Lok Sabha, the Salary, Allowances, and Pension of Members of Parliament (Amendment) Bill, 2020 was passed. The Bill amends the Salary, Allowances, and Pension of Members of Parliament Act, 1954, and reduces the basic salary of MPs by 30% for one year from April 2020. 

The Essential Commodities (Amendment) Bill, 2020, was also passed in the House. The Bill amends the 1955 Essential Commodities Act to provide that stock limits for agricultural produce can only be imposed when retail prices increase sharply and exempts value chain participants and exporters from any stock limit requirements.

Before the legislative business, the Defence Minister made a statement in Lok Sabha and informed the House that the government is committed to resolving the border situation with China peacefully. The Minister added that the government has, through diplomatic and military channels, disapproved of China's attempts to change the status quo.

Numbers to Note

0.001%

The Salary, Allowances, and Pension of Members of Parliament (Amendment) Bill, 2020 (mentioned above), and the Salaries and Allowances of Ministers (Amendment) Bill, 2020 seek to reduce salaries of MPs and sumptuary allowances of Ministers by 30%. They are being brought in to supplement the financial resources of the Centre to tackle COVID-19. Our analysis shows that the proposed reductions amount to savings of around Rs 54 crore. This is less than 0.001% of the Rs 20 lakh crore Aatma Nirbhar Bharat Abhiyaan.

14-29 lakh cases

The Ministry of Home Affairs informed Lok Sabha that "it has been estimated that the decision of lockdown, by slowing down the spread of the pandemic in India, has prevented 14–29 lakh cases and 37–78 thousand deaths."

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