The Money Laundering Bill is now likely to come up for parliamentary approval only in the monsoon session in July-August later this year.

The select parliamentary committee of Rajya Sabha to which the Bill had been referred to during the previous session was expected to give its report in the budget session. It has, however, sought more time to complete the report.

Three senior members of the committee-Ved Prakash Goyal, Kapil Sibal and S Ramachandra Pillai-have formally moved a motion in the Rajya Sabha seeking extension of time "up to the first day of the 190th session of the House" (monsoon session). The motion is slated to come up for approval of the Rajya Sabha in a day or two. The Bill was passed by the Lok Sabha during the last session.

Among the major economic Bills pending in Parliament for approval are the Information Technology Bill, the Designs Bill, the Electricity Regulatory Commissions (amendment) Bill, the Companies (second amendment) Bill (all lying with the Lok Sabha); the Indian Post Office (amendment) Bill, the Indian Contract (amendment) Bill, the Participation of Workers in Management bill, the Cinematograph (amendment) Bill, the Atomic Energy Bill, the Indian Boilers Amendment Bill, the Coal India (regulation of transfers and validation) Bill, the National Cooperative Development Corporation (amendment) Bill, the Delhi Rent (amendment) Bill, the Companies Bill , 1997, the Narcotics Drugs and Psychotropic Substances (amendment) Bill, the Major Port Trusts (amendment) Bill, the Forward Contracts (regulation) Amendment Bill, the Patents (second amendment) Bill, the Semiconductor Integrated Circuits Layout Design Bill and the Small Industries Development Bank of India (amendment) Bill (all with the Rajya Sabha).

The business advisory committees of both Houses of Parliament will, however, review the situation within the next few days as regards the priority of these bills after President KR Narayanan addresses the joint session on Wednesday.

The government is bracing itself to take on the opposition on various fronts, including privatisation of PSUs, including Indian Airlines and Modern Foods as also a number of other PSUs.

The Left parties in particular are gearing up to pillory the government on privatisation of PSUs amid their trade unions planning direct action during the budget session.

The Congress and other opposition parties are also up in arm against the government for various omission and commission in the political arena. Among measures they are planning to launch an all-out offensive include green signal by some state governments to their employees to join RSS activities, refusal of the Uttar Pradesh government to film maker Deepa Mehta to shoot her film `Water' in Varanasi, among others.