Current AffairsIndia

Bill for National Bank for Financing Infrastructure lacks monitoring, supervision provision: RJD

New Delhi: RJD lawmaker Manoj Kumar Jha on Thursday said that the National Bank for Financing Infrastructure and Development Bill, 2021 lacks monitoring and demanded that it be sent to a ‘select committee’ for wider consultation.

Speaking in the Rajya Sabha, Mr Jha said that by sending it for Parliamentary scrutiny, all stakeholders would be deliberating on all the aspects of the proposed Bill.

Referring to the infrastructure development works in Bihar, Mr Jha said that the state did not get its due since independence and urged Finance Minister Nirmala Sitharaman to make special provisions for the state.

Aam Adami Party Member ND Gupta alleged that if one goes with the details of draft Bill, it appears that is was drafted by some foreign agency. He also said that there should be a system of a regular audit for this bank.

Flagging the provision of audit of the bank in every five year, BSP lawmaker Satish Chandra Mishra said that the audit should be done every year. He also asked whether the FDI limit to this Bank would be 74 per cent or what?

The nominated Member Narendra Jhadav said, “The principal objective of the Budget was to facilitate real economic growth. In order to achieve high growth and sustain it, the Indian economy will need a strong infrastructure base”.

K Ravindrakumar of TDP, while debating on the Bill, said that the intention behind the Bill was good, the idea of sovereign guarantee was a good idea as well and according to recent estimate, India has been in need of investment of 4.5 trillion US dollars for constructing necessary infrastructure till 2030.

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