Many things have changed since January 26, 1950, when our Founding Fathers gifted us this Republic. While we have established our government and fundamental laws, we need to examine whether the separation of powers between the Executive, Judiciary and Legislature operates as it should.
The Centre moved the law by which government-owned general insurance companies need not have 51 per cent capital held by the Union. This will allow government to sell larger stakes in National Insurance, the New India Assurance, the Oriental Insurance and the United India Insurance.
The council of ministers of the government of West Bengal, in its first meeting on May 17, 2021, took the decision to set up a legislative council. In its manifesto, the Trinamool Congress had promised the formation of the council.
In 1950, the Speaker spoke about the “undemocratic” practice of promulgating ordinances instead of bringing Bills. Now, they are re-issued in the absence of their ratification, thereby doing away with ordinance etiquette.
The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, if cleared by the parliament, will impose a blanket ban on the transaction of cryptocurrency by corporations and individuals. The bill is likely to be placed before the ongoing budget session of the Parliament.
When a law is made by Parliament, it alone can repeal or suspend it. The Court has no power to stay it, and if it does so, then Parliament too can do the same to a court’s orders. This tussle has been there since the first Republic Day in 1950.
The Centre has been reiterating that the new laws are meant at reforms and have been passed after consultation with all stakeholders. However, farmers say they were taken into confidence when the laws were passed by the Parliament.