The elections to Lok Sabha will be held in seven phases from April 19, 2024 to June 1, 2024.
Votes will be counted on June 4, 2024.
Elections to the Legislative Assemblies of Andhra Pradesh, Arunachal Pradesh, Odisha and Sikkim will take place at the same time as elections to Lok Sabha.
High Level Committee Recommends Simultaneous Elections
The High-Level Committee(Chair: Former President Mr. Ram Nath Kovind) constituted by the central government submitted its report on simultaneous elections.
Its terms of reference included examining feasibility and suggesting a framework for conducting elections to Lok Sabha, state Assemblies, and local bodiesat the same time.
Key observations and recommendations of the Committee include:
Rationale for simultaneous elections
Simultaneous elections will ensure stability and predictability in governance by minimising disruption and policy paralysis caused by the enforcement of the Model Code of Conduct.
The Committee recommended holding elections for Lok Sabha and all state assemblies at the same time, and that of local bodieswithin 100 days from these elections.
In case of mid-term elections, fresh elections should be held for a reduced term. The reduced term will be equivalent to the remaining period of the five-year cycle till the next simultaneous election.
Supreme Court Strikes Down Immunity to Legislators for Accepting Bribes for Votes or Speeches Inside a Legislature
In 1998, the Supreme Court held that MPs who took a bribe to cast their vote in the House have immunity from criminal prosecution under Article 105(2).
The reasoning was that the act of taking the bribe and casting the vote are related, and therefore, the immunity for the vote is extended to the bribe.
The court further said that an MP who took a bribe but abstained from voting in the House does not enjoy such immunity.
Now, a seven-judge bench of the Supreme Courtheld that a legislator cannot seek immunity under Articles 105 and 194 from prosecution on a charge of bribery in connection with a vote or speech in the legislature.
It does not matter whether the vote is cast as agreed or if the vote is cast at all.
The offence of bribery is complete when the legislator accepts the bribe.
The 2019 Amendment Act makes illegal migrants, who are Hindus, Parsis, Buddhists, Jains, Christians, or Sikhs from Afghanistan, Pakistan, or Bangladesh, eligible for citizenship.
They must have entered India on or before December 31, 2014.
Key features of the 2024 Rules include:
Documents required:
Any one proof of nationality issued by the government of Afghanistan, Pakistan or Bangladesh. E.g., copy of passport, birth certificate, any type of identity document, license or land records.
Any one of the specified documents that proves he entered India on or before December 31, 2014. E.g., copy of the visa and immigration stamp on arrival in India, ration card issued in India, rental agreement registered in India, insurance policies issued in India etc.
A District Level Committee, headed by the jurisdictional Senior Superintendent or Superintendent of Post, will verify the application and administer the oath of allegiance.
It will submit the relevant documents to an Empowered Committee, headed by the Director of Census Operations of a State or UT, for verification.
If satisfied, the Empowered Committee will grant citizenship to the applicant.
Under the 2009 Rules, applications are submitted to the relevant Collector. He verifies the application and then forwards it to the state government or UT administration.
The application is then sent to the central government, which grants citizenship after completing all inquiries.
Economy
Competition Commission of India Notifies Commitment and Settlement Regulations
These Regulations have been notified under the Competition Act, 2002, which was amended in 2023 to provide for the commitment and settlement commitment framework.
The amended Act allows enterprises to offer certain commitments (such as change in market behaviour) or pay settlement.
Key features of the 2024 Regulations include:
Commitment:
A commitment application must be filed with CCI within 45 days from receiving the order passed by CCI to initiate investigation.
The entire process must be completed in 130 working days from the receipt of the commitment application.
The effectiveness of the commitments offered will be measured against factors such as:
nature, duration, and extent of the alleged contravention,
if the commitment terms address the competition concerns, and
if the commitment terms make the markets more competitive.
Settlement:
A settlement application must be made within 45 days from receiving the investigation report of the Director General of CCI into the alleged contraventions.
The entire process must be completed within 180 working days from the receipt of the settlement application. The settlement amount would be determined by applying a discount of 15% on a base amount.
RBI Issues Framework for Self-regulatory Organisations
Entities regulated by the RBI include banks, non-banking finance companies, and payment system operators.
SROs can improve effectiveness of regulations through technical expertise and aid in framing regulatory policies.
Key features include:
Process for recognition:
An interested SRO may apply to RBI for recognition.
For this, it must meet certain eligibility criteria. These include: (i) being registered as a not-for-profit company, (ii) representing the sector and having specified membership, and (iii) its directors must have professional competence and have general reputation of fairness and integrity.
Adherence to specified principles:
An SRO should: (i) derive authority from membership agreements to set ethical and governance standards, (ii) establish objective and consultative processes to make rules for conduct of its members, (iii) develop standards for improving compliance culture, and (iv) have surveillance methods for effective monitoring of the sector.
Responsibilities towards members:
The primary responsibility of the SRO towards its members will be to promote best business practices.
Other responsibilities include: (i) framing and monitoring adherence to the code of conduct for its members, (ii) developing a uniform and non-discriminatory membership fee structure, (iii) establishing a grievance redressal and dispute resolution/arbitration framework for its members, and (iv) promoting knowledge of statutory/ regulatory provisions.
Membership criteria:
SROs should have a good mix of members at all levels to represent the sector holistically.
The membership criteria will be prescribed by RBI. Membership to an SROwill be voluntary.
The minimum prescribed membership must be attained within two years from the grant of recognition to the SRO.
It includes: (i) calculation of the index, (ii) determining the index methodology, and (iii) dissemination of the index. The Regulations will apply to index providers that administer significant indices of securities listed on a recognised Indian stock exchange for use in Indian securities market.
Key features include:
Registration:
Index providers must register with SEBI.
Applicants must meet certain eligibility criteria such as:
The 2014 Regulations define REIT as a trust registered under the regulations.
The 2024 amendment specifies that REIT refers to a person who pools at least Rs 50 crore from at least 200 investors to acquire and manage real estate assets or properties.
Small and medium REIT:
Assets that can be acquired under a scheme of small and medium REITs will be of value between Rs 50 crore and Rs 500 crore.
It should have at least 200 unitholders, excluding the investment manager of the REIT, its related parties, and associates.
Eligibility:
For registration, the small and medium REIT must meet certain criteria such as:
the registration application being made by the investment manager on the trust’s behalf,
the investment manager having a net worth of at least Rs 20 crore with at least two years’ experience in the real estate industry or in real estate fund management, and
at least half of the directors of the investment manager are independent.
India Signs Trade Agreement with European Free Trade Association
The scheme will offer reduced import duty on Electric Vehicles (EVs)to global manufacturers, provided that manufacturers commit to domestic manufacturing.
The revamped scheme expands eligibility to include pharmaceutical manufacturing units including those whose average three-year turnover is below Rs 500 crore.
Manufacturers of compostable/biodegradable plastic products must obtain a certificate from the Central Pollution Control Board (CPCB) before marketing or selling.
The amendments specify that the price of the certificate will be determined by the CPCB, subject to certain limits.
The minimum price will be 30% of the compensation payable by non-complying entities, and the maximum price will be 100% of the compensation.
Raw material for single use plastics:
The amendments prohibit manufacturers and importers of plastic raw material from supplying to entities that manufacture single use plastic items that are prohibited by law.
Amendments to Battery Waste Management Rules, 2022 Notified
Financial support (for the cost of the project) will be provided for R&D in areas such as hydrogen production, storage, testing, and transportation.
Projects will be divided into short term (up to five years), mid-term (up to eight years), and long term (up to 15 years), depending on existing capabilities.
Electrolyser manufacturing:
The scheme provides financial incentives to support domestic manufacturing of electrolysers.
Companies must have a net worth of one crore rupees per megawatt of manufacturing capacity to be eligible.
Smaller manufacturers (with a net worth of Rs 30 lakh per megawatt or higher) are also eligible under a separate tranche of the scheme.
Setting up hydrogen hubs:
Regions that can support large scale production/ utilisation of hydrogen will be identified and developed as hydrogen hubs.
Support will be provided for core infrastructure such as storage and transportation and water treatment facilities.
The demand for coal is projected to be 1.6 billion tonnes by 2030.
Key observations and recommendations include:
Reduction of coking coal imports:
Coking coalis primarily used in the production of steel. The steel industry fulfils 90% of its coking coal requirements through imports.
Thus, the Committee recommended that more coking coal should be supplied to the steel sector.
The Committee also recommended that the washing capacity be increased.
Reduction of non-coking coal imports:
Non Coking coal is used in the production of power.
The Committee recommended that boilers use domestic coal and be retrofitted to make them compatible with domestic coal.
GST compensation cess on coal:
Cessis levied at a flat rate of Rs 400 per tonne. This is regardless of the origin (domestic or imported), quality, or source.
This leads to a higher cost for domestic coal per unit of energy, as domestic coal is generally inferior in energy content as compared to imported coal.
