In a recent Economic Survey 2023-24 presented by Finance Minister Nirmala Sitharaman, the Indian economy is reported to be on a strong footing, showcasing remarkable resilience in the face of geopolitical challenges. This 476-page document highlights the consolidation of post-Covid recovery and the stability maintained by fiscal and monetary policies. Despite global volatility, India's economic growth continues to expand. Watch the full analysis and key insights from the Economic Survey 2023-24.
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#IndianEconomy #EconomicSurvey #FinanceMinister #NirmalaSitharaman #EconomicGrowth #GlobalChallenges #EconomicStability #PostCovidRecovery #India2024
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00:00What is the difference between a written answer and an oral answer?
00:07What is the difference between a written answer and an oral answer?
00:14What is the difference between a written answer and an oral answer?
00:21Come up with answers. He's given a comprehensive written answer.
00:25Maybe he'll take a while to be able to articulate it orally.
00:29But I just want to add some things which are very important
00:32from the point of view of the First Lady member who's asked this question
00:36and also Sri Jagadambika Parth.
00:39Sir, Ministry of Corporate Affairs has taken a lot of steps towards reducing pending cases
00:47and as was mentioned earlier, there was a Special Drive Phase 1 and a Special Drive Phase 2.
00:55Special Drive Phase 1 was in 2017, Special Drive Phase 2 has been implemented in 2023.
01:03Till July of 2024, that is this month, 15th, 6,294 applications for withdrawal
01:12have been filed before the various courts.
01:15Now specifically on ease of doing business, a lot of steps have been taken,
01:20nearly 11 steps which have been given in the written reply.
01:26Nearly 11 steps have been taken which were mentioned worthy,
01:31which are being specifically said in the reply.
01:36But most importantly, decriminalization of 63 major offenses.
01:42Just a minute, just a minute.
01:44It is not allowed to sit down and ask questions.
01:49It is not allowed to comment.
01:51Minister.
01:53So 63 offenses have been decriminalized and as a result of which
02:02companies today are able to carry on their functions without the worry of compliance.
02:09There was a central processing center which has been set up
02:12so that specified non-STPE reforms can also be,
02:16e-forms related questions can also be taken up.
02:19So the most important part of this is zero fee for incorporation has been brought in
02:25for companies with authorized capital of up to 15 lakhs,
02:30meaning small companies which have small capitals with which they start their business,
02:35there is no fee charged.
02:37These are as a matter of ease of doing business other than simultaneously acting on
02:43reducing the pendency in the courts.
02:47Therefore, this question which relates to ease of doing business
02:51and also reduction of pendency has both sides on which the minister is trying to answer.
02:57Sir, the most important question which was,
03:00the most important question which Jagadambika Pal raised about the SEBI, sir,
03:06I want to underline the fact that the reforms which have been brought by the SEBI,
03:13particularly in timelines which have been given for settlement of claims,
03:18is a remarkable step taken forward and our markets have also been
03:23and companies have also benefited from it.
03:25In fact, we are far ahead of the very many other countries
03:30where similar companies law operate.
03:33They are still not able to settle claims within even T plus 6, T plus 5 or T plus 4.
03:42We have even come to T plus 1 which is effectively being run today.
03:46So SEBI related reforms also are coming up with ease of doing business
03:53and treating all stakeholders with great comfort.
03:58So this question pertains to a large area of reforms in companies matters
04:05both related to pendency reduction and ease of doing business.
04:10So the question that was getting answered by our new MOS
04:14was actually a larger context on which the written answer is far more comprehensive
04:22than what the minister has tried to start answering with
04:26but new ministers will take a bit of while but for us to listen to them,
04:31I would request all of us to kindly accommodate their attempt to answer.
04:40Thank you very much Mr. Speaker.
04:41The honourable minister has given off a kind of laundry list of initiatives
04:44but he has overlooked a very crucial issue sir
04:47which is that 67% of the pending litigation cases relating to insolvency
04:53have exceeded the 270 day time frame
04:56precisely because there has been no attention paid to the staffing levels of the NCLAT sir.
05:02For example all the southern states, all five southern states and two UTs
05:06we have one NCLAT in Chennai and there sir according to media report
05:11the bench has one stenographer who doubles up as PA to the technical member
05:15and the registrar sits in Delhi.
05:17So this is a preposterous situation.
05:19What I would like to ask the honourable minister is
05:21what is she doing, what is her ministry doing about giving some attention
05:26to the staffing crisis facing the NCLATs
05:29and in particular for the southern states
05:31would she be willing to consider a separate NCLAT for a state like Kerala
05:36where our cases are pending for so long sir.
05:38Thank you Mr. Speaker.
05:43Sounds very interesting to say I have given a laundry list
05:46but we have done so many reforms
05:49so we need to list it all
05:51and I appeal to the honourable member to read it
05:54so that he can differentiate between a typical laundry list
05:58and a list of actions taken for reforming the process.
06:02Honourable member Sashi Tharoor should actually differentiate
06:05between a laundry list and a list of reforms undertaken by us.
06:09So with that said sir
06:11and with that said I quite agree with the honourable member
06:15staffing and filling up the vacancies of NCLT and NCLAT
06:21is a challenge which we are trying to meet.
06:25We are certainly conducting periodically
06:29interviews and also advertising for positions
06:33and working with the Supreme Court
06:35so that we get the right members
06:37to appoint them in the various company law tribunals.
06:44Yes it is true that there is only one NCLAT
06:49and that is located in Tamil Nadu.
06:51I am sure for now at least
06:54for now at least
06:56the southern states would find that it is not located in the north
06:59and it is in Chennai
07:01and therefore for now at least
07:03NCLAT in Chennai would serve the purpose.
07:06However I do appreciate
07:08that we need to have a greater number of appellate tribunals
07:12but this is not something which
07:14this is not something which I can just do.
07:17Oh sir my mic is off
07:19so it is not only the opposition members
07:21or mics which are getting off even mine is off
07:24if that satisfies you.
07:26Sir but my answer is not complete.
07:29NCLT
07:31both NCLT and NCLAT
07:34appointments are being taken up seriously by all of us.
07:38We are trying to fill it speedily.
07:40I assure the member that
07:42filling up these positions are happening
07:44with greater sense of urgency.
07:46Question number 5
07:48Srimati Aparajita Sarangi
07:52Question number 5 sir
07:54Honorable Minister
08:00Speaker sir
08:02Promoting libraries is crucial
08:04for fostering a culture of lifelong learning.
08:08National mission on libraries
08:10was formulated by the central government
08:13in 2014
08:15and the main intention of this particular scheme
08:18was to enhance
08:20the accessibility to knowledge and resources
08:23across India.
08:25Since 2014
08:27the year in which this scheme was grounded
08:30till today
08:32we would like to know as to what kind of initiatives
08:35have been taken by the Government of India
08:37the Ministry of Culture
08:39to raise awareness among the people
08:41regarding the benefits of the scheme
08:43and
08:45what is the nature of the community engagement
08:48and the community outreach
08:50I would request Honorable Minister Culture
08:53to enlighten us.
08:57Mr. Speaker
08:59the question asked by the member
09:04is very important
09:06and is related to social life
09:08and
09:10is related to the life of a person
09:13and is a very important topic
09:15which is highlighted.
09:20But we all know that
09:22library as per 7th schedule of the constitution
09:25is a subject of the state
09:28and as a subject of the state
09:30the primary responsibility
09:32is to connect people to this
09:35to connect people to the library
09:38to increase their ability to study
09:41this responsibility
09:43to raise awareness among the people
09:45is the responsibility of the state governments.
09:47The Government of India
09:49through the National Mission of Library
09:51to supplement the efforts of the states
09:55provides money and resources.
09:58Mr. Speaker
10:00through you
10:02I would like to tell the members
10:04to increase the physical infrastructure of the libraries
10:07along with
10:09Raja Ram Mohan Rai
10:11through the library foundation
10:13to grant libraries in the states
10:15to grant libraries in the states
10:17to grant libraries in the states
10:19to enhance the library experience
10:21to enhance the library experience
10:23to increase the reading material
10:25to increase the reading material
10:27and along with this
10:29by setting up a national virtual library
10:31and by setting up a national virtual library
10:33we have made available thousands of books
10:35we have made available thousands of books
10:37so that people can take the most advantage
10:39so that people can take the most advantage
10:41in this technology era
10:43I would like to insist
10:45all the members present here
10:47in their respective districts
10:49in their respective districts
10:51and in some places
10:53and in some places
10:55for its rich cultural heritage with diverse traditional systems of knowledge.
11:20I would request Honorable Minister Kulcha to tell us as to how is the national mission
11:25on libraries helping the preservation and dissemination of traditional systems of knowledge
11:30and knowledge.
11:31Thank you.
11:32Thank you.
11:33Dr. Rajiv Bhardwaj.
11:34Dr. Rajiv Bhardwaj.
12:04I would like to ask Honorable Minister Kulcha to tell us as to how is the national mission
12:11on libraries helping the preservation and dissemination of traditional systems of knowledge
12:15and knowledge.
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