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Lok Sabha passed the Employee's Compensation (Amendment) Bill, 2016. The Bill amends the Employee’s Compensation Act, 1923. The Bill introduces a provision which requires an employer to inform the employee of his right to compensation under the Act. Such information must be given in writing (in English, Hindi or the relevant official language) at the time of employing him. Further, the Bill penalises an employer if he fails to inform his employee of his right to compensation. Such penalty may be between 50,000 to one lakh rupees.
During the debate members raised their concerns about the need other labour related reforms. Health insurance for workers, disposal of cases in labour courts, protection of workers against inhuman treatment were some aspects highlighted.
Lok Sabha also passed the Central Agricultural University (Amendment) Bill, 2016. The Bill proposes to amend the Central Agricultural University Act, 1992. The Act provides for the establishment of a University in the north eastern region for the development of agriculture, and advancement of research in agriculture and allied sciences. The Act defines the north eastern region as comprising the states of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Sikkim and Tripura.
The Bill amends this definition to include the state of Nagaland.
Rajya Sabha passed the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016. The Bill addresses issues related to debt recovery, including expeditious adjudication of cases. It amends four laws including the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (DRT Act) and Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).
Participating in the debate members highlighted the need to build capacity in banks for better recovery of debts, securitisation of assets etc. Members also lay emphasis on the challenge of Non-Performing Assets (NPAs) that the banking sector is currently facing. The need to increase man power and address pendency in debt recovery tribunals was also highlighted by members.