Amid the much-awaited presidential election, Monsoon session of Parliament begins on Monday. A total of 18 bills has been listed for passage in the Lok Sabha and the Rajya Sabha. The session which will continue till August 11.
Parliamentary Affairs Minister Ananth Kumar said that apart from 16 new bills, 21 bills are pending in Lok Sabha, while 42 bills are pending in Rajya Sabha, many of which would be considered for passing during the session.
The bills which are important from an economic perspective include the Banking Regulation (Amendment) Bill, 2017; the Whistle Blowers Protection (Amendment) Bill, 2015 and the Motor Vehicles (Amendment) Bill, 2017.
Other important bills to be presented in in the monsoon session includes Financial Resolution and Deposit Insurance (FRDI) Bill, 2017, Central Goods and Services Tax (Extension to Jammu and Kashmir) Bill, 2017, Integrated Goods and Services Tax (Extension to Jammu and Kashmir) Bill, 2017, Indian Institute of Petroleum and Energy (IIPE) Bill, 2017, Requisitioning and Acquisition of Immovable Property Amendment Bill, 2017, Consumer Protection Bill, 2017, Labour Code on wages and Factories (Amendment) Bill, 2016 as passed by Lok Sabha.
The quarterly earnings announcement by the corporates and the monsoon session are going to be the important drivers for the market. Nifty is nearly 80-90 points away from the magical 10000 number.
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