Winter Session 2021: Farm laws repeal, Power, Crypto in focus; Centre to table 26 Bills

Setting a packed agenda for the Winter session, Centre has listed 26 bills for consideration and passage in this session. Key bills to be tabled are Farm Laws Repeal Bill, Electricity (Amendment) Bill, Energy Conservation (Amendment) Bill and Cryptocurrency and Regulation of Official Digital Currency Bill. The Parliament's Winter session will last from November 29 to December 23.

Key bills to be tabled in Parliament

• Farm Laws Repeal Bill, 2021

After a year-long protest by farmers, PM Modi announced that the Centre will officially repeal the three farm laws in the upcoming Winter session of Parliament. The farm laws to be repealed are Farmers' Produce Trade and Commerce (Promotion and Facilitation) Act, 2020, Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Act, 2020 and Essential Commodities (Amendment) Act, 2020. Inspite of PM's assurance, farmers have refused to stop their sit-in protests urging  Centre to holds talks with them over Minimum Support Price (MSP), the death of farmers during the protest and the Lakhimpur Kheri violence.

The Farmers' Produce Trade and Commerce (Promotion and Facilitation) Act, 2020 aimed at freeing the farmers from the constraints of the state Agriculture Produce Market Committees whereby they would be able to sell their produce anywhere. Meanwhile, The Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Act, 2020 protected and empowered farmers to engage with processors, wholesalers, large retailers, exporters for farm services. The Essential Commodities (Amendment) Act, 2020 specified that the supply of foodstuffs including cereals, pulses, potatoes, edible oilseeds, and oils shall be regulated only under exceptional circumstances. 

• Energy Conservation (Amendment) Bill, 2021

As India pledged to emit zero carbon emission by 2050, the Centre aims to amend the Energy Conservation Act, 2001 demand for to enhance renewable energy at the end- use sectors such as Industry, buildings, transport etc. The proposed amendments include - additional incentives in the form of Carbon credits, promoting green hydrogen as an alternate to existing fossil fuels, expanding the scope of Act to include larger Residential buildings to promote Sustainable Habitat. The bill aims to empower institutions to contribute for India's  Paris commitments and achieve more than 40% energy generation from non-fossil-fuel energy resources by 2030.

• Electricity (Amendment) Bill, 2021

One of the biggest points of contention to the farmers, Centre seeks to amend the Electricity Bill which entails de-licensing of the distribution business and bringing in competition. The Bill allows constitutes a distribution licensee which can authorise a sub-licensee to distribute electricity on its behalf with the prior permission of the SERC, according to PRS. An Electricity Contract Enforcement Authority (ECEA) will be created to adjudicate upon specified contract-related disputes in the power sector. The Bill requires SERCs to adhere to the National Electricity Tariff Policy while determining the cross-subsidy and government subsidy will be directly passed to consumers, not being included in tariff calculation. The Bill also mentions a penalty for non-compliance of RPO, prescribing rights and duties of consumers. Farmers have sought scrapping this Bill to end their protests.

• Cryptocurrency and Regulation of Official Digital Currency Bill, 2021

As cryptocurrency picks up throughout the world, Centre aims to table a new law to create an official digital currency to be issued by the Reserve Bank of India. The Bill also seeks to prohibit all private cryptocurrencies in
India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses. Centre will also set a 3-6 month exit period prior to banning the trading, mining and issuing of cryptos. The govt is planning to regulate cryptocurrency and get it under the Centre's tax structure. 

Recently, many MPs raised concerns in the Parliamentary Standing Committee's meeting on the new law. The most serious concern raised by MPs was the security of investors' money highlighting the full-page cryptocurrency advertisements in national dailies. Moreover, many MPs have opined that banning cryptocurrencies will be 'taking it too far', batting for regulatory control. They have suggested that if one gets defrauded in crypto, there should be an option to take the complaint to some regulatory body. 

Other bills to be tabled are :

• The National Institute of Pharmaceutical Education and Research (Amendment) Bill, 2021
• The Maintenance and Welfare of Parents and Senior Citizens (Amendment) Bill, 2019
• The Banking Laws (Amendment) Bill, 2021
• The Narcotic Drugs and Psychotic Substances (Amendment) Bill, 2021
• The Central Vigilance Commission (Amendment) Bill, 2021
• The Delhi Special Police Establishment (Amendment) Bill, 2021
• The Chartered Accountants, the Cost and Works Accountants, and the Company Secretaries (Amendment) Bill, 2021
• The Insolvency and Bankruptcy (Second Amendment) Bill, 2021
• The Cantonment Bill, 2021
• Inter-Services Organizations (Command, Control and Discipline) Bill, 2021
• The Indian Antarctica Bill, 2021
• The Emigration Bill, 2021
• The Pension Fund Regulatory and Development Authority (Amendment) Bill, 2021
• The Indian Maritime Fisheries Bill, 2021
• The National Dental Commission Bill, 2021
• The National Nursing Midwifery Commission Bill, 2021
• The Metro Rail (Construction, Operation and Maintenance) Bill, 2021
• The High Court and Supreme Court Judges (Salaries and Conditions of Service) Amendment Bill, 2021
• The National Transport University Bill, 2021
• The Constitution (Scheduled Castes and Scheduled Tribes) Order (Amendment) Bill, 2021
• The Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill, 2021
• The National Anti-Doping Bill, 2021
• The Mediation Bill, 2021