4 March 2015 Current Affairs
Parliament Passes Citizenship (Amendment) Bill, 2015
Parliament has passed the Citizenship (Amendment) Bill, 2015. It was passed by Rajya Sabha on 4 March and earlier by Lok Sabha on 2 March 2015. This bill will replace an ordinance promulgated in this regard and amend the Citizenship Act, 1955. The bill seeks an amendment in the Citizenship Act, 1955 and to merge the Person of Indian Origin (PIO) and Overseas Citizenship of India (OCI) schemes. The Citizenship Act, 1955 regulates the acquisition and determination of citizenship and details registration of overseas citizens of India and their rights. Under PIO, citizenship was extended up to great-grandchildren while in OCI and it was only till grand children. Now with the passing of this bill it has been extended to great grandchildren in OCI.
Lok Sabha Passes Coal Mines (Special Provisions) Bill, 2015
The Coal Mines (Special Provisions) Bill, 2015 which provides for the auction and allocation of coal mines through a bidding process has been passed in the Lok Sabha on 4 March 2015. The bill to replace an ordinance brought to overcome the uncertainty in the coal sector after the Supreme Court cancelled the allocation of coal blocks was introduced in Lok Sabha on 2 March 2015.The government had issued the Coal Mines (Special Provisions) Ordinance, 2014 on October 21, followed by the Coal Mines (Special Provisions) Second Ordinance, 2014 in December.The Coal Mines (Special Provisions) Bill 2015 provides for allocation of coal mines and vesting of the right, title and interest in and over the land and mine infrastructure together with mining leases to successful bidders and allots through a transparent bidding process.
Insurance Laws (Amendment) Bill 2015 Passed By Lok Sabha
Lok Sabha on 4 March 2015 passed the Insurance Laws (Amendment) Bill, 2015. The Bill will replace the Insurance Laws (Amendment) Ordinance, 2014.The proposed amendments in the bill aim to bring improvements and revisions in the existing laws relating to insurance business in India. In this regard it seeks to remove archaic provisions and incorporate modern day practices emerging in a changing dynamic environment, which includes private participation.It seeks to remove archaic provisions and incorporate modern day practices emerging in a changing dynamic environment, which includes private participation. It hikes Foreign Direct Investment (FDI) cap in the insurance sector to 49 percent from present 26 percent.