On the 8th of March, the second phase of the 2021 Parliament Budget Session started.
According to the sources, at 9:00 A.M., the Budget Session started with an uproar over increasing fuel prices. The opposition parties like the Indian National Congress (INC) raised
slogans and demanded a discussion over fuel prices hike.
Today, the Rajya Sabha proceedings were adjourned twice today. First it was adjourned till 11:00 A.M., but after it resumed due to the same ruckus over increased fuel prices, it was adjourned again till 1:00 P.M.
The INC Member of Parliament (MP) Mallikarjun Kharge raised slogans against the soaring rates of fuels. The INC leader Mallikarjun Kharge said, “Petrol and diesel prices are nearly ₹100 per litre & ₹80 per litre respectively. LPG prices have also gone up.”
Mr. Mallikarjun even alleged that Rs. 21 lakh crore have been collected by putting excise duty/cess due which the entire nation, including farmers are suffering.
Another INC MP Manish Tewari gave an Adjournment Motion Notice in Lok Sabha over the rise in fuel prices.
The house was adjourned by the upper house Chairman M. Venkaiah Naidu. He said, “I don’t want to take any drastic action on the first day.” Following the statement, he adjourned the house till 11:00 A.M., and for the second time till 1:00 P.M.
The rates of fuels have been rising due the production cuts by the global oil producers. As of the 8th of March, petrol is selling at Rs. 91.17 in Delhi, Rs. 89.38 in Noida, Rs. 97.57 in Mumbai while it costs Rs. 91.35 in Kolkata.
In regard to the increasing fuel prices, the Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed to not to increase supply in April as they await a more substantial recovery in demand.
Dharmendra Pradhan, the Union Minister for Petroleum and Natural reacted to the OPEC’s decision and said, “As one of the largest crude-consuming countries, India is concerned that such actions by producing countries have the potential to undermine consumption-led recovery and more so hurt consumers, especially in our price-sensitive market.”
Keeping aside the fuel prices discussion, the second phase of the Parliament Budget Session would focus on several bills and grants for 2021-2022. Along with grants for 2021-2022, the Finance Bill which carries various tax proposals would also be taken care of. In addition, mandatory agendas including various bills for passage would be a part of the session.
Some of the bills listed by the Central Government include the Pension Fund Regulatory and Development Authority (Amendment) Bill, the National Bank for Financing Infrastructure and Development Bill, the Electricity (Amendment) Bill and the Crypto currency and Regulation of Official Digital Currency Bill.
The second part of the 2021 Budget Session would conclude on the 8th of April.
The first phase started from the 29th of January and concluded on the 29th of February. The Budget for the fiscal year (FY) 2021-2022 was presented on the 1st of February, by FM Nirmala Sitharaman.
Due to the outbreak of the Novel Coronavirus or COVID-19, both the Rajya Sabha and the Lok Sabha would function on the same day. The Rajya Sabha would function from 9:00 A.M., to 2:00 P.M., and the Lok Sabha would function between 4:00 P.M., and 10:00 P.M.
Stay tuned for further updates.
