Taking Sides – LIC Disinvestment

The government of India has set an aggressive disinvestment target of ₹2.1 Trillion for the financial year of 2020-21. Most skeptics of this government believe that the government and its finance managers lack vision and don’t know what is the real objective behind this foolish obsession with disinvestment. But is it really a pointless obsession as some people think?

Last year, that is in FY20, the government made big decisions on disinvestment. The FM came out and gave us a list of government assets and enterprises from which it want to move away by disinvestment. BPCL was the biggest shocker in the list, a profit making company was to be sold, why? well, the government didn’t really feel it necessary to make the reason public but people speculated nevertheless.

This year, the government has it’s eye set of Life Insurance Corporation of India – LIC. The LIC came into existence in 1956 when the government of the day decided to consolidate life insurance companies and create one big state owned life insurance provider. A parliamentary legislation was passed and LIC came into being. LIC is one of the largest financial organisation in the nation and sits on a huge pile of cash. At the end of 2019, LIC has a total asset base of ₹30 trillion – that’s as much as our budgeted expenses for this year. LIC has a market share of 72% in the insurance sector, which means roughly 3 out of 4 people in India have insurance policies from LIC. Naturally everyone is skeptical when the GoI announced that it wants to sell out a little stake in LIC and make it a public company.

As I see it, the disinvestment from LIC has many dimensions. There are 4 main dimentions.

  1. The Government of India
  2. LIC as an Entity and its Employees
  3. LIC policy holders
  4. Public and the Future Stake holders of LIC

The Government of India

The humongous size of LIC and it’s assets and the Government of India’s total control over it meant that the GoI can direct LIC about how and where to spend its money. The money of LIC is used many times when the government wanted to disinvest from other PSUs . LIC also came to the aid of the government and chipped in from its huge kitty when the GoI wanted to invest in social and public works.

All governments in history have used LIC to bail our ailing Banks and other PSUs. LIC has also been a major market mover in our stock markets. Governments has leveraged LIC as a major investor to influence stock markets and all this was hidden from the general public of the nation. LIC by far is one of the most opaque organisations in the country today. No one knows where it invests or how much money it’s losing. We can only make a guess by looking at the share holding pattern of other public companies.

From what we’ve seen above, it appears the government has more to lose with this move. Going public would mean open scrutiny of the financial transactions. Will this restrict the government’s ability to use LIC for its financial needs? Not necessarily, the government has sold 20-30% stakes in many PSU banks, but still, a phone call from a big office in the government is enough to draw checks.

So we can conclude that the utility of the LIC for the GoI remains unchanged, just that the transactions will be public now. Again, when has public scrutiny scared any PSU bank managers? Can it be different for LIC? No likely.

LIC and its Employees

The employees of LIC staged a walk out on Tuesday the 4th of Feb and called for a nation wide where the 1.3 Lakh employee base would go on an indefinite strike. The employees are against the sale of 10% government stake via an IPO. The employees say that the LIC is the profit making company and has dominated the insurance sector despite privatization of the industry. The employees also say that the sovereign guarantee offered by the company on the LIC policies of the policy holders would not be in effect once the company is made public.

There has been no talks between the employee unions and the management of LIC yet. Market experts suspect that the employee displeasure is also stems from the fact that they would cease to be employees of a wholly state owned company.

As far as LIC as an entity is considered, going public would open it up for public scrutiny which will surely do good for the company. New stake holders would mean new objectives for the board – shareholder satisfaction. One needs to be careful and not expect too much. We all know that the state owned New India Assurance also underwent an IPO, a lukewarm reception and listing at a discount.

LIC Policy Holders

This people looking at the disinvestment move from this dimension. The view of the policy holder has grabbed most attention. What will happen to the policy holder’s money if the company goes bust? Now that the government’s stakes will go down and it will be a public company, the sovereign guarantee – assurance by the government – on the bonus will not be applicable. Hence the bonus is at risk and needs panic! well, not really. A 10% stake sale shouldn’t really mean all this. The company will remain the same from the perspective of the policy holder.

Skeptics however see this as a starting point and a precedent. A government of a later date may want more money and decide to sell some more of its stake and slowly lead to complete privatization of LIC. This is definitely not unheard of, but let’s not get that pessimistic just yet.

New Stake Holders

Finally, the new stake holders. What do they stand to gain or lose from this? Well for starters they will gain the privilege to have a closer peak into the books of LIC.

Secondly, if the LIC Act is amended in such a way to start treating it as any other public listed company. This way, by the provisions of the companies act, the minority share holders – which will most likely be banks, MF houses or retail investors will have rights to be heard and approve off any important decisions of the company. Does this make you feel powerful? Well.. let’s see about this.

Lastly, all PSUs pay dividends to the government from their surpluses. This can happen each year or whenever the central government is keen of getting a dividend. How are these dividends decided? how much? when? why etc etc was unseen in a non public LIC. This will or is likely to cease or atleast be reasonable once LIC goes public since the GoI will not be the only recipient of the dividends.


Looking at the four dimensions to this story, one gets a strong feeling that the Government of India will be the biggest loser by doing this. So why is the GoI doing this?

Please please please don’t tell me this is to meet the revenue expenditure. If it is.. then all the advantages mentioned above will mean nothing and mean that the government has indulged in yet another bout of sheer economic ignorance.

Why RBI held onto the status quo

The Reserve Bank of India decided to hold its rates in the Monetary Policy Committee meeting on the December 5 2019.

The reaction to this decision was well received by the analysts of the economy. But still, there was a group that expected the RBI to cut the rates.

Why did people expect the RBI to cut the rates?

We expected the RBI to cut rates because the state of the economy is far from showing any signs of recovery. The GDP growth is down, and there is no improvement in private investment either. By reducing the interest rates further the RBI and the government might’ve hoped to stimulate investment.

Why was no one shocked on the status quo of the interest rates?

We weren’t really shocked because even though it seemed like common sense to reduce the interest rates to stimulate investment, it somehow didn’t seem to work.

The RBI has reduced the repo rate 5 times already and there has been no significant effect on the economy or private investment.

Why hasn’t the rate cut made a difference?

It’s simply because of 2 main reasons,

1. Banks aren’t ready to pass on the benefit

With reduced interest rates, once would assume the commercial banks would reduced their lending rates and pass on some benefit to the consumers, but this didn’t happen. There are many reasons for this, the banks are already over streched with advances, the banks have mounting bad debts and fit because there aren’t enough quality borrowers inthe market.

2. Inflation is high

Due to an increase in fuel prices and food inflation, the WPI has increased to 4.9% which is well above the RBI’s target of 4%. Making further reductions would mean more money in the economy and hence trigger more price rise.

There is also a 3rd reason, since the economy isn’t that great, there is no need to invest right now in India. A rich investor who has easy and cheap access to funds in India would be tempted to borrow in India at a lower price and invest abroad. Already our foreign remittances are increasing, we don’t want to encourage further remittances do we?

Hence it makes perfect sense for the RBI to hold its rates.

But this leaves us with a site thumb. Who then will stimulate the economy? In 2011-12 when Pranab Da ended up over stimulating the economy, his only fault was just relying on the monetary policy and loosening it without care or concern.

Today we can’t rely on the monetary policy alone to get the economy back on track, we need the finance ministry to manage the fiscal policy and help revive the economy.

But now another question sticks out, does the government have any money left to do fiscal policy changes?

Where’s all the money gone? Why has GST failed? I guess that’s another blog.

The Fall of Trust

Somewhere in financial history, the word ‘trust’ got replaced by the word ‘credit’ which divided the economic chronology into After Credit and Before Credit. Even though credit was present from before agrarian economies, it was used in an organised manner by Europeans from the 15th century which in turn fueled their scientific as well as political conquests.

Credit which is trust in future boomed when the trust was kept or got fulfilled by advancement in economies, which in return again fueled credit growth. This cyclical growth excited man and he made the cycle circle faster at each turn by lending, spending and printing too much. Obviously this made the Europeans champions of the world and hence the first to go bankrupt.

In the 21st century their credit cycle broke all of a sudden, and they found themselves staring at negative returns on the credit facilities. This meant the number of trusted parties who can avail credit had declined, resulting in the need to shell out in order to find parties willing to accept credit. This happens because the trust factor in future has declined as the number of defaulting accounts rapidly balloon and even lead to sovereign countries defaulting on credit.

Italy was in crown position of having world’s highest ratio of bad debts. This crown position was challenged by a country in South East Asia where everything happens prematurely. That’s India. Even though India saw organised credit surge and became the economy’s backbone very late only in the 20th century, we are staring at huge bad debts which is around 9.5% of the total advances, where in Italy the bad debts are at 8.5% currently down from 17% in 2015. We are facing this high ratio of broken promises for last few years and we planned many things.

Now in 2019, the bad debts have changed their status from the ‘result’ to ‘cause’. We were talking about why it happened for last few years but now we are discussing what it will result from now on. The CEO of NITI Ayog, Amitabh Kant said that trust is missing in the economy which, as we’ve seen really means credit is missing from the economy. So where did the trust go? Since 2005, we saw boom years for trust where we saw credit was flowing seamlessly and investments were soaring. We added capacity in infrastructure like power plants, airports, ports and roadways. We invested heavily in industries and we created immense capacities. This was all made possible by the basic emotion of credit or trust in tomorrow, that tomorrow will be better than today. Indians were also sure that our more than enough population itself will provide the required demand and hence the cycle of trust will be safe. Alas it wasn’t.

The lack of reforms in the Banking and Finance Industry and the policy paralysis in the second term for the UPA government started the cracks in our cycle of trust.

In the first half of the 2010s, PSB asset books were ripe with more than 10% NPA’s, this led to a fall in their lending and their share in lending was taken over by NBFCs which got their boom years from the beginning of this decade. This boom bank rolled the initial years of NDA govt where no one knows actual growth rates. Introduction of fresh initiatives by NDA such as IBC brought fresh life to the trust in future. But just like as GST, the IBC was also introduced half baked, and as of now, number of cases pending more than 270 days which was the defined deadline to be decisioned is 400. It became another Judicial system of India.

Then came the ILFS balloon burst. This took away the single engine on which the economy was running – the NBFCs. Funds became costlier or rare for the NBFCs and hence for the end users. Now we are celebrating one year of NBFC crisis and economy shows the effects. As nobody is there to fund, the demand worsened and the auto sector’s fall was first omens of impending doom. All sectors started cost cutting and the already worse unemployment hit another spike which again affected aggregate demand. This eroded the trust in tomorrow. Only trust eroded, not the money with banks. As trust in the economy eroded people are less likely to invest in the market and hence this money will go to less risky fixed deposits.

Obviously for a less trusted tomorrow, credit is not favorable and hence needs the rate cuts to encourage people who can afford a credit at this time to come on board.

Making all this worse is the attitude of the government of the day. The government is either ignorant, lazy or just in plain denial about the crisis. The actions of the government are nothing less than blunders. Perhaps that will make the cut to the second episode of this series.

Magellan’s Calendar

In the September of 1519, a sailor called Ferdinand Magellan set sail to navigate around the globe. This was at a time when earth was believed to be flat and very few thought otherwise, even fewer were ready to prove this by planning an expedition to circumnavigate the earth. Magellan is widely credited to have successfully completed the expedition. Of course, the truth is Magellan died on the islands on the Philippine archipelago and only 18 of the 241-member crew made it back to Spain to prove that it is not possible to fall off the earth by sailing over the horizon.

The fleet of 5 ships and 241 sailors navigated the Atlantic via West Africa and the coast of Brazil. By the time the ships resupplied on the islands of the Strait of Magellan, one of the ships; Santiago was destroyed in a storm and the crew of another called San Antonio had mutinied and returned to Spain. The three remaining ships had entered the South Pacific Ocean in the November of 1520.

 The winds and waves vanished, and the sails dropped. The silent sea as the Pacific is called offered no help. Men succumbed to the tricks of the sea and fell overboard; the crew came into fire from pirates in the sea and native tribesmen on land.  Months passed, and there was no hospitable land to resupply. The commanders of the ships were getting edgy and the admiral foresaw more mutinies.

The admiral decided, the best way to keep the crew from losing their minds over the time passed was to hide the calendar. History records that the captains of the 3 remaining ships were given calendars made by the admiral and they along with the admiral decided what day it was. The Admiral maintained one calendar for himself and his first officers that showed the real date and another calendar for the crew that showed a false date – a date that changed slowly and kept the crew thinking days passed slower than weeks.

The crew eventually crossed the Pacific after 4 agonizing months of navigating through the Pacific and landed Guam in the Philippines sea. When Magellan and his officers revealed that they had spent 4 months navigating through the pacific, the crew was shocked beyond belief. Some felt betrayed, some said they had an inkling, but they didn’t care much now as they had finally made port.


The economic conditions in India are bad. It doesn’t take a genius to figure that out now. Economic indicators like the GDP numbers, agricultural income growth, manufacturing growth, employment rate and the aggregate demand in the economy are all declining and have been declining for quite some time now.

Although the decline and the collective decline is concerning, the real concern is that the central government of India is not acknowledging it. What we hear from government and government representatives is that FDI numbers have been the highest, the problem is because of the time bombs left behind by the previous governments or that these are effects of the trade war and other global factors.

Economists, one after the other have said that the slowdown is India’s own doing. Demonetization and the hasty implementation of a half-baked GST is being blamed for the current slowdown in the economy. When the BJP came into power in 2014 we were at a cyclical boom period along with a global fall in crude prices. Our government didn’t see it fit to pass on the advantage to the consumers and saved millions, where are those millions now?

2014 and 2015 were drought years for the agriculture of India and it had just seen a little recovery in 2016 when the government announced demonetization to kill the rural and other unorganized sectors. The government followed one blow after another by the hasty half-baked GST thereby taking care of what was left of the unorganized sectors.

The effects of these hasty and impulsive policies are having an effect now. One may say the financial crisis in Banks and NBFCs was a gift of the previous government, but sadly the numbers say otherwise. While the NPAs was at 2.5 Lakh crore in 2014 it has now come to 8.5 Lakh crores in 2019. Inaction from the current government is the reason for the snowballing of the banking crisis.

There are a lot of problems in our economy and all of them can be fixed. We are the nation that escaped from the meltdown in 1991, we are the nation that averted being part of the global crisis in 2008; so we can definitely find our way around these self-inflicted wounds. If only we have the stomach to accept that there is a crisis.

The finance minister gets defensive and starts shutting down reporters, the home minister is busy plotting booby traps for the opposition leaders and the prime minister is busy planning for his next item number.

I quoted the story of Magellan and his fake calendars because I am a hopeful person inside. I secretly want to believe that no government of India can be so arrogant about its ignorance. I sincerely hope that our central government is holding a Magellan’s calendar in front of us to keep our hearts and is maintaining a genuine calendar for itself that shows the truth.


Part 4: Jodhpur

The Blue City

Google maps is a life saver. It helps lost souls find their way. But on a bad day it can easily go the other way. We left from Jaisalmer just as the sun had started going down. It had thus far been a great day. Good places, good people and great food of Jaisalmer had left us wanting. But as plans go, we had to move on. Next stop Jodhpur – the Blue city. We were eager to get to Jodhpur, and in our eagerness made the one mistake that made subjected us to one of the hardest commutes we’d seen so far. We turned on google maps destined to Jodhpur while still in Jaisalmer city limits.

The Wrong Way

The main route taken to reach Jodhpur is the one that goes via Chandan, Pokhran and Dechu. This is a 4 lane highway and has tolls on the way. I’m not sure what google thought of us but she showed us a non-toll route that went through the countryside and maybe even through a forest. It was a single road – just two lanes with no clear onward and return sides. Over that we have a bizarre incidence where saw the carcass of a cow or some big animal like a deer or a camel right in the middle of the road. We slowed down, there was no one on the road, no vehicles, no homes, no people, just that carcass. Maybe it was a trap laid to get us? We didn’t stop, didn’t click photos, just escaped.

As on the previous day, we reached Jodhpur in the middle of the night. Our hotel had a wonderful view of the Mehrangarh fort, but sadly that meant the hotel was 125 feet below the fort and right in the center of the town – a town of narrow streets and open drains. It was frustrating enough that the hotel wasn’t perfectly pinned on google, but the midnight traffic was what got us really riled up. At 1 AM in the mid night people are riding around in their bikes at top speed! It was insane, insanity that we endured and finally found the hotel. It was a residential building modified into a hotel, and the promised parking was on the road – which our expert drivers struggled to mitigate.

Our day started with a visit to the central clock tower. Natives called it the Ghanta Ghar. It’s a tall tower in trade mark Jodhpuri architecture. The tower is surrounded by markets on 3 sides, including street markets that sold cloths, leather articles, plastic and wooden toys and a lot of things that looked like souvenirs for tourists. There isn’t much to talk or appreciate about the clock tower except that its a popular local land mark and though its right in the middle of the street, it makes for some decent photos.

Next on the list, the Mehrangarh fort. The fort itself is an awe inspiring site. The lofty towers, the thick walls and the shade of age on them makes it as imposing as it can get. There is another monument called Jaswant Thada close to it. It’s practically in the same premises as fort but very tranquil and serene in comparison to the fort. Given the fact that the monument is basically a place built to offer homage to the kings gone by, it is practically a tomb, just that there are no dead bodies in the place – perhaps because they were all hindu kings. There inner hall of the monument has photos and biographies of the kings, and is surrounded by a quite garden with bougainvillea trees and a serene lake on the outside. We saw a couple are artists trying to sketch the monument, so we stood for a while to catch them in action. It is said the Thada continues to serve as the cremation ground for the royal family. One of the interesting and humorous things about the place was the numerous No Selfie Zone signs.

The Mehrangarh fort has huge entryways and huge double doors which would’ve made for beautiful photos if not for the never ending hoards of people. There were also school trips and pilgrims among the crowd. Like most forts and palaces, this is also a huge museum. The exhibits can be categories as pictures of royalty, models depicting battles and other history, armoury of the royal army, and a special section of the museum dedicated just to the turbans! The fort has long corridors lined with photos, and a lot of rooms showcasing all the different remnants of the royal family and their lifestyle. There were numerous gift shops and other pop up shops in the fort. Rajasthani poppets, cotton cloths, turbans, exhotic metal utensis among other things.

The fort also housed a temple of ma chamunda devi. It is said that one of the kings of the province was a devotee of the goddess and had made the temple in the fort premises. The temple is in the compound of the fort, but is to be approached via the roof. The roof in itself is a showcase. It houses numerous canons of different time periods and makes for good photos. The view of the city from the roof top reminds us why this is called the Blue city.

Jodhour is known for its sweets. Jalebis, Ghewars, barfis and laddoos of a million kind. Unfortunately we had no time hunting down authentic places to eat as the fort had taken up nearly 3 hours and it was almost 2 PM. Sticking to our ambitions plan meant we would have to leave the city in less than 2 hours if we were to reach Jaipur before nightfall. We did find a Haldirams and ordered some delicious Raj Kachori to end our day in Jodhpur on a sweet note.

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PS: We missed the Umaid Bhavan palace. Though the palace is visible from Jaswant Thada, its not like actually visiting the place, is it?

A Girl in Red

It was the weirdest part of the trip. What was supposed to be a 4 nights 5 days trip in the himalayas was gonna go wrong. OK calm yourself, no one died, no one broke anything and no one was lost.


It so happened that my company had taken on a stupid stupid client and we were trying make a lending software for this hard nosed stupid ass. I was the BA leading the calls and I messed up. Well, that’s another story, maybe for another day, but for now there was a stupid stupid client that I couldn’t drop and I was in the Himalayas.

With regret I had told my guys I was gonna stay back in Mcleodganj. The initial plan was to drive up to Manali from Mcleodganj, try skiing and any other adventure sports available and maybe play in the snow! But I couldn’t. So the guys went ahead to on the trip and I stayed back alone in the hotel room with my laptop. There was no heating in the room and there was no room service in the hotel.

The guys left for Manali early in the morning, at around 5:30 AM. I just woke up to see them off and went back to bed. No one was gonna be in office before 10. I don’t need to log in at 5:30 to prove anything. To my pleasant surprise, when I woke up by 9:30 AM, there was snow! It had started snowing in Mcleodganj in the 4 hours that I had been asleep since the guys left! The gods must really like me to have made it snow so that I didn’t miss seeing snow! It was the first time I saw snow in my life and it did feel new and fresh and unique. I walked out to the front porch of the hotel and stepped on the snow. Took a couple of steps and turned around to see my foot steps in the snow. The feeling was surreal. I had just taken 3 steps on flat ground in front of the hotel and it got me excited. So weird!

The kids who were manning the hotel started playing in the snow. A couple of them started making snowballs and throwing at each other. The 3rd kid wrote a girl’s name in the snow and was taking selfies with it. They were not kids per say, they might’ve been 18-20 years old but they were playing in the snow like they were 8 year olds! Snow is the beach of the highlanders I suppose.

I asked if breakfast was available, there was nothing in the hotel. Not even noodles or eggs or bread or even chai. I was asked to walk down to a small town center, a center circle like the town plaza which had a line of shops. I decided to take the chance. It’s not like I was hungry, but I liked the snow and a walk in the snow and a spicy fried egg seemed more inviting than drafting lengthy unconvincing mails.

I wore literally all the cloths I had with me. I hadn’t packed mustang, so I wore my thermal inners, 3 layers of cloths on top and then the only jacket I had. Gloves, socks, shoes and the cap too. I started walking down, the snow wasn’t think and since it was the first day of snow, there was no frost and it was easy to walk. I walked down to the plaza and found a neat eaterie. It had colorful interiors and looked like a library cafe. I picked up a political magazine, quite an anomaly in the otherwise “love all – no boundary nation ” theme of the cafe.

As I walked in I noticed there was no one else in the cafe. I was afraid I was gonna be turned down, but thankfully not. Another 18-19 or 20ish kid came up and took my order. I ordered a masala egg and cup of hot latte. He wrote it down, turned on the music to loud blast, gave me smile and ran down. It felt good, I was important. Perhaps in the himalayas when there is snow and bad weather all around, even a single customer ordering a single egg is important.

I ate my egg slowly sipping the latte. It had stopped snowing and there was noise outside. It was a Monday, so children had started going out to school. Few other eateries started playing music and other shops and establishments started opening up. Each with one or two guests.

A few kids, again 20ish kids had started playing cricket in what looked like a small park. There were some younger kids and some older ones. In fact the older ones were the kids who were running these cafes. They all played together but ran different cafes. Seems strange at first, but guess that’t the life in mountains.

I walked back to my room shivering in the snow. A girl in a red knee length coat was walking down towards the plaza. She was alone and didn’t look like a tourist. Our eyes locked, I nodded as a way of wishing the morning and she gave me a smile. I never saw her again, but the memory of this split second exchange of warmth still keeps me warm on cold lonely nights.

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A Day in Paradise

Haven’t we always wondered what happens in the world? How do birds fly? What makes it rain? What’s the need of a catch basin? OK pause. Judging by the desperate nature of the examples, you would’ve figured that this is an unwanted intro to something completely different. You’re not all that wrong.

Like the questions, we also have one burning question inside us. How are laws made? The easy answer is: we as people elect our representatives through elections, these representatives come up with ideas that could improve our lives. Once an elected representative (most often but not always is a part of the government in power) comes up with something, he/she then tables (floats/pitches etc) the idea in the parliament, where the rest of the representatives (both from the govt and opposition) take an objective look at it, study it and come up with questions and amendments to the proposed idea. Sometimes this results in lengthy debates, setting up on committees for further studies and finally when everyone is satisfied with the amount of debating, the proposal – also called a bill is subjected to a vote and if the bill passes the vote, then does the idea become a law? Well not exactly, but this is the first step – Ok what are the other steps then? We’ll take that up some other day – but just to remind you, this was in your secondary school civics text books.

So, what is this blog about?

This blog is about taking a look at whether it is really all that simple. Do laws just get ‘tabled’ in the parliament, debated upon and passed into being laws or does something else happen? Let’s look at one day – hence the cheesy title – A Day in Paradise. For our purpose, I’ve taken up 4th July 2019 as a case for our study. Now let’s dive in – there will be technical terms and ‘governmental’ or ‘parliamentary’ jargon what we’ll try to define in simple terms as we move along.

Business

Business in our terms means agenda. It is the list of activities that are planned for a day’s work in the parliament. The Business is generally published 2 days in advance and in case of revisions, a revised List of Business is published and shared with the members of the parliament. I’m not sure if all the ministers coming to the parliament go through this before coming but its published as a matter of practice and standards.

Here’s the gist of what was going to be the business of the day for 4th July 2019: But first lets just understand what the different things mean

  1. Questions
    • Any questions to be asked of any member of parliament – these needs to separately listed and made available to the said member of parliament so as to be able to prepare and answer the question.
  2. Papers to be laid on the table
    • These are basically reports or notifications that any member of parliament wants to bring to the notice of the parliament. Once a paper is placed on the table, it may be brought up in discussions in the parliament (also called the house) or in general cases it is just a point of information for the house. Eg: certain XYZ Report has been produced by the ministry of oil and gas based on a study done on all oil refineries on the east coast of India.
  3. Messages:
    • Messages from either of the houses to each other or from the different state heads or the president that needs to be relayed in the parliament.
  4. Statements
    • Ministers or committee members can raise a request to make a statement in the parliament, these requests are taken by the speaker and based on merits and discretion provided a slot to make the statement.
  5. Motions:
    • Basically a topic or a line of thought that any member of parliament wants to bring out in the house and start a debate and discussion or come to consensus about a past discussion or debate.
  6. Resolutions:
    • It is a kind of coming to a decision about a certain topic, or bill or business of the house. Best explained with an example. The Finance minister can move to bring a resolution on changing the Duty on say computers from 10% to 20%. Now this isn’t a law or something that will amend a law, but it is something of importance to the nation and hence needs to get an approval from the parliament. Hence the minister will move for a resolution and the house will vote aye or nay for or against the resolution.
  7. Legislative Business
    • The thing that we thought was the main business of the parliament – making laws. These are basically laws and bills that are not yet laws that a minister may bring up for creation or amendment. These bills once brought up can either be taken up for debate and discussion or be brought up for the vote.
  8. Matters under rule 377
    • Matters of business that don’t fall into any of the other mentioned categories

Now the table above talks numbers, but what are the questions raised? Are any of them really really important to the nation and how did the concerned member/minister respond to the question? What are  the messages replayed in house? What were the motions submitted? And was there a debate on the said motion? How was the bill passes? Was there a debate? The things we see on TV, the ruckus and commotion, can we capture that? Well truth be told, all the commotion and ruckus is also captured and is there for everyone to see.

For starters, the happenings in the parliament are all on record. Secondly most of it is video recorded and available on the TV channels LSTV and RSTV. The video recordings of these parliamentary sessions is also available on the websites of the loksabha and rajyasabha. The websites of Loksabha and Rajyasabha also have PDFs of all the documents that you need to look up. The list of business, the questions, the bulletins, the debates and the speeches held on the floor of the house.

The objective of this blog post was not to bring out what happened in the parliament. Its to give the reader a general idea of what happens and that our parliament has enabled us as citizens to look for and find all the information about the happenings of the legislative arm of our democracy.

Since there is hardly a fortnight left in the current session of the parliament, Dr. Timepass will compile data of the business of the house in these 2 weeks and do some qualitative review. Come back again by the weekend to see what happened in the lower house of the Indian parliament this week and what we at Dr. Timepass make of it.

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Documents used for this Blog:
1. LS List of Businesses – 4th July
2. LS Bulletin Part 1 – 4th July
3. LS Questions – 4th July
4. Papers to be laid on the Table – 4th July