SC or Prez may take final call on changes to Fema
Basudeb Acharia, CPM leader in the Lok Sabha: “We will definitely go ahead with Fema modifications sometime next week, after the Rajya Sabha debate on FDI. There is ample time for our party to challenge the Fema modification in the Lok Sabha.” His statement is on the basis of the norm that any change in Fema rules/regulations can be sought to modified by the members within 30 days of the same being placed in the House.
The government tabled the changes on November 30, but the Speaker while clubbing the debate on FDI decision and Fema amendments had restricted the window for members to seek modifications to four days. This, sources say, is the Speaker’s discretion that cannot be challenged in court.
CPI leader Gurudas Dasgupta said his party hasn’t decided yet whether it mould move an amendment to the modification in the regulation. Fema was an act passed in the winter session of Parliament in 1999. It replaced the Foreign Exchange Regulation Act.
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