LOK SABHA DEBATES (English Version)
Total Page:16
File Type:pdf, Size:1020Kb
Thirt~nth Series. Vol. XVI. No. 26 Frida~·. April 20. 200 I Chllitrll .'0. 1"2.' (SlIklll LOK SABHA DEBATES (English Version) Sixth Session (Thirteenth Lok Sabha) I (Vol. XVI cOlllai".v NO.Ii. 22 10 31) LOK SABHA SECRETARIAT NEW DELHI Price : R.. 50.fHI EDITORIAL BOARD G.C. Malhotra Secretary-General Lok Sabha Dr. P.K. Sandhu Joint Secretary P.C. Chaudhary Principal Chief Editor Y.K.' Abrol Chief Editor A.P. Chakravarti Senior Editor Sanjay Srivastava Assistant Editor (Original English Proceedings included in English Version and Original Hindi Proceedings included in Hindi Version will be treated as Authoritative and not the translation thereaf.) CONTENTS [Thirteenth Series. Vol. XVI. Sixth SessIOn. 200111923 (Saka)) No. 26, Friday, April 20, 2001/Chaitra 30, 1923 (Saka) SUBJECT COlUMNS OBITUARY REFERENCE ORAL ANSWERS TO QUESTIONS ·Starred Question Nos. 481. 482. 486 and 489 3·33 WRITTEN ANSWERS TO QUESTIONS ·Starred Questions Nos. 483·485. 487. 488 and 490·500 ... 33·53 Unstarred Questions Nos. 5C25-5242 53·354 STATEMENT CORRECTING REPLY TO UNSTARRED QUESTION NO 4025 DATED AUGUST 18. 2001 HE SETTING UP OF NEW AIRIDD KENDRAS 354·355 PAPERS LAID ON THE TABLE 355·362 STANDING COMMITTEE ON LABOUR AND WELFARE Eleventh. Twelfth & Thirteenth Reports 363 STANDING COMMITTEE ON FOOD, CIVIL SUPPLIES AND PUBLIC DISTRIBUTION Tenth and Eleventh Reports and Minutes ... 363 STANDING COMMITTEE ON URBAN AND RURAL DEVELOPMENT Twenty-first. Twenty-second. Tweniy-thtrd. Twenty·fourth and Twenty-fifth Reports 364 STANDING COMMITTEE ON SCIENCE AND TECHNOLOGY AND ENVIRONMENT AND FORESTS Eighty-eighth and Eighty-ninth Reports 364 BUSINESS OF THE HOUSE 365 BUSINESS ADVISORY COMMITTEE 367 Twentieth Report 367 RAILWAY BUDGET-DEMAND FOR GRANTS ... 372 APPROPRIATION (RAILWAYS) NO 2 BILL Motion to Consider 374 Shri Nitish Kumar 376 Clauses 2. 3 and 376 Motion to pass 376 "The Sign + marked above the name 01 a Member indicates that the question was actually asked on the floor of Ihf! House by that Member. LOK SABHA DEBATES LOKSABHA 11.02 ..... The MembefS then stood in silence FrIday, April 20, 20011Cha1tra 3D, 1923 (Sab) for a shOI1 while. The Lok Sabha met at Eleven of the CIocIc [Translation] [MR. DePUTY SPeAKER in the Chah1 SHRI MOHAN RAWALE (Mumbai South Central) : Mr. OBITUARY REFERENCE Deputy Speaker, Sir, Bangladesh has attacked India . (Interruptions). There is no submission on behaH of the (English] Government. There should be one ... (Interruptions). The Minister of Parliamentary Affalrs.1s present here .... MR. DEPUTY·SPEAKER : Hon, Members, I have to (InterruptiOns) There people are creating pandemonium in infonn the House of the sad demise of one of our esteemed the House on Tehelka issue . (Interruptions). former colleagues, Shri P. Kolandaivelu. {English] Shri P. Kolandaivelu was a Member of Eighth Lok Sabha from 1984 to 1989 representing Gobichettipalayam MR. DEPUTY SPEAKER : Shri Mohan Rawale, you Parliamentary Constituency of Tamil Nadu. can raise it after Question Hour. Earlier, Shri Kolandaivelu was a Member of Tamil [Translation} Nadu Legislative Assembly from 1977 to 1980 and from SHRI MOHAN RAWALE : I had raised this issue two 1980 to 1984. He also served with distinction as Minister days ago also . (Interruptions) of Agriculture and Irrigation from 1977 to 1980 and Rural Development and Local Administration from 1980 to 1984 [English] in Tamil Nadu. MR. DEPUTY SPEAKER : Shri Mohan Rawale, Dr. An active Parliamentarian. Shri Kolandaivelu served Raghuvansh Pr~d Singh also has given a notice to as a Member of various Parliamentary Committees and suspend Question Hour. The Speaker has disallowed it. Let was also Chainnan of public Accounts Committee during us have Question Hour and you can raise it later on. 1989·90. Now Q.No. 481, Shri Mansinh Patel not present. Shri A keep political and social worker, Shri Kolandaivelu Shivaji Mane. was associated with Bhoodan Movement. [Translation} A lawyer by profession, Shri Kolandaivelu was also DR. RAGHUVANSH PRASAD SINGH (V8i8haJi) : Mr. the Special Representative for Tamil Nadu in New Delhi Deputy Speaker, Sir, I have giYen a Notice. Our soldiers from 1993 to 1995. are being killed in Bangladesh . (InterruptionS) Shri P. KoIandaivalu died in a road accident MR. DEPUTY SPEAKER,: Mr. Speaker has disallowed at Pollachi, Coimbatore on 12th April, 2001 at the age of your Notice . (Interruptions) 63. MR. DEPUTY SPEAKER : You may raise your Issue We deeply moum the loss of this friend and I am sure, . in Zero Hour which will take pface after the Question Hour. the House would join me in conveying our condolences to the bereaved family. Mr. Speaker has taken a decision In this regard. I won't allow you. The House may now stand in silence for a short while as a mark of respect to the memory of the departed DR. RAGHUVANSH PRASAD SINGH : I will raise the soul. JPC Issue during the Zero Hour ... fTntemJptions) 3 Oral AnSWBfS APRIL 20, 2001 to Questions 4 MR. DEPUTY SPEAKER : You will get an opportunity applicability of volatility margin to any class of during Zero Hour. ivestors and that the volatility margins would be applicable to sale pOSitions of financial (Interruptions) institutions. foreign institutional investors and mutual funds which up till now had not been 11.05 hr•. subjected to any margins. ORAL ANSWERS TO QUESTIONS The threshold limit of volatility margins was {English] reduced from 80% to 60% so as to bring more scrips under the ambit of the volatility margin. New Guideline. to Control BourN. All sales transactions effective from March + 8.2001 shall be backed by delivery unless a saie *481. SHRI SHIVAJI MANE: transaction is preceded by a purchase position SHRI MANSINH PATEL: of at least an equivalent amount in· the name of the same client in the same or any other Will the Minister of FINANCE be pleased to state: exchange. This will also apply to the proprietary trading by members. This will be on a self- (a) whether in the wake of stock market crash and certification basis and would be subject to payment crisis in the Mumbai and Calcutta Stock exchange's off-site inspection up to sub-broker exchanges, SEBI issued a set of new guidelines to and client level. The exchanges would share control bourses and ensure that payments were settled information to facilitate the verification. It would immediately; be applicable to scrips in the MCFS and BLESS (b) if 80, the details of the guidelines so issued: and other deferral products. (c) whether the guidelines so issued have shown The current margining system will be moved to any positive results in the stock market and how these the var scrip-wise model from July 01.2001. measures are different from the measures taken earlier; and The broker-wise end of the day outstanding poSition (aggregate of all securities) of a (d) the further steps being taken by SEBI to avoid member on any stock exchange other than the such situation in future? Stock Exchange, Mumbai (BSE)! National Stock Exchange (NSE) shall not exceed Rs. fifty crore THE MINISTER OF FINANCE (SHRI YASHWANT with effect from 12th march, 2001. The BSE and SINHA) : (a) to (d) A sta1ement is laid on the table of the NSE have been excluded from the purview of House. this stipulation in view of the size of their trade and settlement guarantee funds. Statement The gross exposure limit for the members of (a) and (b) The Securities and Exchange Board of stock exchanges was reduced to 10 times of the India (SEBI) has intimated that in order to ensure base capital and the additional base capital in safety of the stock markets and timely completion of the case of NSE and to 15 times for other stock settlements SEBI has taken several measures which are given below: exchanges with effect from 12th March. 2001. All the scrips in Modified Carry Forward System Stock exchanges were permitted to use the (MCFS) Automated Lending and Borrowing settlement guarantee fund maintained by them Mechan~ (ALBM) and Borrowing and Lending for meeting the shortages arising out of the non- securities scheme (BLESS) will attract additional fulfiUmentlpartial fulfillment of the funds obligations margin of 10% on end of the day net outstanding by the members in the settlement before sale position. This was increased to 25% with declaring the concerned member defaulter. This effect from 12th March. 2001. is in line with the practice followed by NSE and it is also in accordance with the international No .xemption would be allowed in the practice. 5 CHAITRA 30, 1923 (Saka) to Questions 6 In the context of price movements dUfing late February All scrips which are included in the AlBMI and early March, 2001, there were apprehensions of BLESSlMCFS in a stock exchange will be possibility of distortion of price discovery by certain entities. traded only in the compulsory rolling On account of indications of prima facie involvement of settlement on a nationwide basis i.e. on all entities relating to Ketan Parekh Group, in price stock exchanges from July 2.2001. manipulation of certain scrips, SEBI has debarred on 4th In addition. if there is any scrip which is April and 11 th April, 2001, these entities from undertaking included in the BSE 200 list. but not covered fresh business activities as intermediaries either as brokers by the above list. will also be included in or as merchant bankers. Subsequently. on April 18th 2001. the compulsory rolling settlement on a pursuant to the preliminary investigation into market nationwide basis. manipulation. SEBI has also debarred certain entities relating to Nirmal Bang Group, Shanker Sharma and Stock exchanges will have to develop Devina Mehra Group and Credit Suisse First Boston (I) software (if necessary), create suitable Securities Pvt.