Monsoon session gets underway today. Here's a look at key bills that are likely to be tabled

The govt is proposing to bring as many as 23 new bills while some already introduced ones could be taken up for passage.

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The monsoon session of Parliament that usually gets underway by the third week of July was postponed because of COVID-19.

The Monsoon session of Parliament begins on Monday with a heavy duty legislative agenda lined up. The govt is proposing to bring as many as 23 new bills while some already introduced ones could be taken up for passage. ET looks at some of the key economic bills that are on the table:

NEW BILLS LINED UP
1. Insolvency & Bankruptcy (Second) Amendment Bill, 2020- Replaces ordinance issued to provide relief to those impacted by Covid-19.

- Suspends corporate insolvency resolution process under sections 7,9,10

2. Banking Regulation Act (Amendment) Bill, 2020- Replaces ordinance issued to strengthen regulatory framework for Co-operative Banks.

-Brings them under RBI’s oversight

3. The Taxation and Other Laws (Relaxation of Certain Provisions) Bill, 2020- Replaces the ordinance issued to provide compliance relief to taxpayers.

- It also seeks to provide tax benefits to donations made to PM CARES

4. The Pension Fund Regulatory and Development Authority (Amendment) Bill,2020- It seeks to amend PFRDA Act to separate NPS Trust from PFRDA.

-It also seeks to ensure universal pension coverage; strengthen PFRDA

5. The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020 - Replaces ordinance to provide farmers & traders freedom to sell or purchase as per their choice.

- Measures to promote transparent & barrier-free interState & intra-State trade sale.

6. The Essential Commodities (Amendment) Bill, 2020- It seeks to empower the centre to control production, supply, distribution, trade, & commerce in certain commodities.

- Liberalise the regulatory system while protecting the interests of consumers

FOR CONSIDERATION & PASSAGE
1. The three labour Codes- Code on Industrial Relations, Occupational safety & health and social security to be moved for passage.

- Seek to bring key changes like hire and fire, social security fund for gig workers.

2. Companies(Amendment) Bill- Decriminalisation of key provisions including corporate social responsibility.
- Seeks to reduce penalties for minor offences.