Rajya Sabha passes Insolvency and Bankruptcy Code (Second Amendment) Bill 2020

Rajya Sabha on Saturday passed the Insolvency and Bankruptcy Code (Second Amendment) Bill 2020. The bill seeks to temporarily suspend initiation of corporate of insolvency resolution process (CIRP) under the code for 6 months or such further period, not exceeding one year from such date

Honorable Minister of Finance of India Nirmala Sitharaman moves that the bill further to amend the insolvency and bankruptcy code 2016, taken into consideration. Also, Minister of Finance of India given the replies to the debate on the IBC (Second Amendment), Bill, 2020 in Rajya Sabha today.

Also Honorable Minister of Finance of India in her Lok Sabha replay the debate on Supplementary Demands for Grants for 2020-21 and Demands for Excess Grants for 2016-17

  • Tax devolution to the states has happened without disruption till today
  • $537.5 billion forex reserve- never ever before did we have this much forex reserve
  • To twist what I said & to say the centre is reneging its responsibility is an absolutely irresponsible comment for a responsible govt led by PM Modi
  • As soon as PMGKY announced,  within 48 hours money reached into accounts of beneficiaries.
  • This was possible because of Jan Dhan, Highest ever spending is happening under MGNREGA which is something even our opponents must recognise
  • There’s no provision in the GST law to pay GST compensation to the states from the Consolidated Fund of India