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1. Winter Session of Parliament 2017 concludes Productivity of Lok Sabha 91.58% and that of Rajya Sabha 56.29% 13 Bills passed by both the Houses of Parliament Budget Session of Parliament 2018 to commence from January 29, 2018

The Winter Session 2017 has been a successful session in terms of the legislative business conducted and wide participation of all political parties in discussions on various issues of national importance, said Shri Ananthkumar, Union Minister for Parliamentary Affairs and Chemicals & fertilizers, while addressing the media here today. Shri Vijay Goel, Minister of State for Parliamentary Affairs and Statistics and Programme Implementation and Shri Arjun Ram Meghwal, Minister of State for Parliamentary Affairs and Water Resources, River Development and Ganga Rejuvenation, were also present on the occasion.

Shri Ananthkumar informed that the Winter Session, 2017 of Parliament which commenced on Friday, the 15th December, 2017, concluded on Friday, the 5th January, 2018. The Session provided 13 sittings spread over a period of 22 days. The productivity of Lok Sabha was 91.58% and that of Rajya Sabha was 56.29%

Apart from the above the other major highlight of the Session is the passing of the National Bank for Agriculture and Rural Development )Amendment(Bill, 2018, the Companies )Amendment(Bill, 2017, the Indian Institute of Management Bill, 2017and the Indian Institute of Petroleum and Energy )IIPE(Bill, 2017 by both Houses of Parliament.

2. Dr. Harsh Vardhan Launches CSIR Fast-Track Mission Mode R&D Project on Eco-Friendly Firecrackers and E-Crackers

Union Minister for Science & Technology, Earth Sciences and Environment, Forest & Climate Change, EFCC and Vice President, CSIR, Dr. Harsh Vardhan, has called for a more favorable approach in addressing the issues of pollution due to firecrackers, as well as protecting jobs and businesses in the existing value chain of firecrackers, through the power of science.

Addressing a brainstorming meeting on non-polluting firecrackers held at Council of Scientific & Industrial Research (CSIR) here today, Dr. Harsh Vardhan emphasised that all S&T organizations should come together to address this issue and that CSIR is uniquely positioned to provide amenable solution to this menacing problem. He urged scientists to put their heart and soul into this endeavor and give a new Diwali to the children of the country, which could be remembered in history as “CSIR’s Diwali”.

3. Finance to Large Infrastructure Project

Government has taken several steps to mobilize funds from various sources, including from capital market, for development of infrastructure. Steps include launching of innovative financial vehicles such as Infrastructure Debt Funds, Infrastructure Investment Trusts/Real Estate Investment Trusts, laying down a framework for municipal bonds and its issuance, relaxation in External Commercial Borrowing (ECB) norms, mainstreaming of Public Private Partnerships (PPPs), relaxation of norms for Employees’ Provident Funds Organization (EPFO)/pension funds for infrastructure sector, bringing in 5/25 scheme to extend long tenor loans to infrastructure projects, take-out finance and flexible structuring etc.

FDI upto 100% under the automatic route has been permitted in Construction Development of Townships, Housing, Built-up Infrastructure which inter-alia include development of townships, construction of residential/commercial premises, roads or bridges, hotels, resorts, hospitals, educational institutions, recreational facilities, city and regional level infrastructure, townships, subject to certain conditions as provided in Consolidated FDI Policy Circular of 2017. The National Investment and Infrastructure Fund (NIIF) has been established with an aim to attract investments from both domestic and international sources for infrastructure development in commercially viable projects, both greenfield and brownfield, including stalled projects.

4. Pradhan Mantri Vaya Vandana Yojana (PMVVY)

Government has launched the ‘Pradhan Mantri Vaya Vandana Yojana (PMVVY)’ to provide social security during old age and to protect elderly persons aged 60 and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through provision of assured pension/return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LIC).

The scheme provides an assured return of 8% per annum for 10 years. The differential return, i.e. the difference between return generated by LIC and the assured return of 8% per annum would be borne by Government of India as subsidy on an annual basis. Pension is payable at the end of each period during the policy tenure of 10 years as per the frequency of monthly/quarterly/ half-yearly/yearly as chosen by the subscriber at the time of purchase. Minimum purchase price under the scheme is Rs.1,50,000/- for a minimum pension of Rs. 1,000/- per month and the maximum purchase price is Rs.7,50,000/- for a maximum pension of Rs.5,000/- per month. The scheme is exempted from Goods and Services Tax (GST). The scheme is open for subscription till 3rd May 2018.

Senior Citizens Savings Scheme, 2014 is a deposit scheme for individuals who have attained the age of 60 years. However, persons retiring on superannuation or under any Voluntary Retirement Scheme (VRS) who have attained the age of 55 years and retiring defense personnel who have attained the age of 50 years can also open the account subject to certain conditions. The upper limit of investment under this Scheme is rupees fifteen lakh. The rate of interest under the scheme for the quarter 01.01.2018 to 31.03.2018 is 8.3%. The deposits made in the scheme are exempt from income tax under section 80C of Income Tax Act, 1961. However, the interest earned on the deposit is not exempt from income tax. Provisions of Tax Deduction at Source (TDS) are applicable to the Scheme.

5. Competition Commission of India imposes Penalty on Chemists and Druggists Association of Baroda and Federation of Gujarat Chemists and Druggists Association

This case is yet another example of how competitive markets and fair-play in the distribution of drugs/medicines are being compromised by the persisting anti-competitive behaviour of the chemist and druggist associations at the Regional as well as State level. It is indeed a serious matter that despite various orders by the Commission in similar cases and specific directions through a press notice, chemist and druggist associations have not mended their ways and have continued to indulge in such anti-competitive conduct. Considering the larger public interest involved in the distribution of drugs/medicines, the Commission deprecates such a conduct and its perpetration in any form by those responsible, be it the Associations, Stockists/Distributor/Wholesaler/Retailer and the Pharmaceutical Companies. Given the widespread and continuing indulgence in the Anti-competitive practices, the Competition Commission of India will be keeping a close watch on the conduct by all such entities in various parts of the country and would not hesitate to take action, wherever deemed necessary.

Investigation carried-out by the Director General (‘DG’) revealed involvement of the State Level Association, i.e. the Gujarat Federation, besides CDAB, in the alleged conduct. After detailed enquiry, the Commission has found that CDAB and the Gujarat Federation were indulging in the anti-competitive practice of insisting NOC prior to the appointment of new stockists by pharmaceutical companies. Further, the Gujarat Federation was found to be carrying on the practice of making introduction of new products in the market subject to payment of PIS charge and its approval. These practices were held to be limiting and controlling supplies of drugs/medicines in the market, in contravention of Section 3 (3) (b) read with Section 3 (1) of the Act. Further, the Commission has held office bearers of CDAB and Gujarat Federation, namely Shri V.T. Shah (President, CDAB), Shri Jashvant Patel (President, Gujarat Federation), to be responsible under Section 48 of the Act, for their involvement in the anti-competitive practices.