Census 2011 or the 15th National Census, a gigantic exercise to capture the socio-economic and cultural profile of India’s population, began on April 1, 2010. India undertakes this exercise every 10 years through the Office of the Registrar General and Census Commissioner in the Ministry of Home Affairs. The census documents details of a billion plus population on diverse subjects such as demography, literacy, fertility and mortality and provides primary data at village, town and ward level. The first census ever to take place in India was in 1872 and the last one was held in 2001. The Census of India Act, 1948 lays down the rules and regulations pertaining to conduct of a census. The Act makes it obligatory for the public to answer all the questions faithfully while guaranteeing the confidentiality of the information. The last census was held in 2001, which revealed that India’s population was about 1.03 billion. Statistical data related to literacy rate, sex-ratio, urban-rural distribution, religious composition, SC/ST population and so on were captured by Census 2001. Features of Census 2011 Census process: India uses the canvasser method for collecting census data. Under this method, the canvasser approaches every household and records the answer on the schedules himself after ascertaining the particulars from the head of the household or other knowledgeable persons in the household. The full detail of the methodology is available here. National Population Register (NPR): It would be a register or database of residents of the country. The government states that such a database would facilitate better targeting of the benefits and services under government schemes and programmes; improve planning and help strengthen the security of the country. The register is being created under the provisions of the Citizenship Act and Rules. NPR process: Basic details such as name, date of birth and sex shall be gathered by visiting each household of a resident of the country. A database shall be created with addition of biometric information such as photograph, 10 fingerprints and probably Iris information for all persons aged 15 years and above. The list shall be sent to the Unique Identity Authority of India (UIDAI) for de-duplication and issue of UID Numbers. The cleaned database along with the UID Number would form the National Population Register. There was a controversy over whether Census 2011 should capture caste data. Since India last collected caste data in 1931, proponents argued that up-to-date, reliable caste data was essential to target welfare schemes towards various backward castes. Opponents however contended that this would perpetuate the caste system. The government finally decided not to include caste as one of the parameters in the 2011 census. Table 1: Schedule of Census 2011
| Schedule | State/UT |
| April 1 | New Delhi (NDMC area), West Bengal, Assam, Andaman & Nicobar Islands, Goa, Meghalaya, Bihar, Jharkhand |
| April 7 | Kerala, Lakshadweep, Orissa, Himachal Pradesh, Sikkim |
| April 15 | Karnataka, Arunachal Pradesh, Chandigarh |
| April 21 | Gujarat, Dadra & Nagar Haveli, Daman & Diu |
| April 26 | Tripura, Andhra Pradesh |
| May 1 | Haryana, Chhattisgarh, Delhi, Punjab, Uttaranchal, Maharashtra |
| May 7 | Madhya Pradesh |
| May 15 | J & K, Manipur, Mizoram, Rajasthan, Uttar Pradesh |
| June 1 | Tamil Nadu, Puducherry, Nagaland |
Recently, there have been instances of certain collective investment schemes (CISs) attempting to circumvent regulatory oversight. In addition, some market participants have not complied with Securities and Exchange Board of India's (SEBI) orders of payment of penalty and refund to investors. In August, the Securities Laws (Amendment) Bill, 2013 was introduced in the Lok Sabha to amend the Securities and Exchange Board of India Act, 1992 (the SEBI Act, 1992), the Securities Contract (Regulation) Act, 1956 (SCRA, 1956) and the Depositories Act, 1996. The Bill replaced the Securities Laws (Amendments) Ordinance, 2013. The Bill makes the following key amendments: a) Definition of Collective Investment Schemes The SEBI Act, 1992 defines CISs as schemes in which the funds of investors are pooled, yield profits or income and are managed on behalf of investors. It also exempts certain types of investments which are regulated by other authorities. The Bill introduces a proviso to the definition of CIS. This proviso deems any scheme or arrangement to be a CIS if it meets all three of the following conditions: (a) funds are pooled, (b) it is not registered with SEBI, or it is not exempted by SEBI Act, 1992, and (c) it has a corpus of Rs 100 crore or more. These provisions could potentially lead to some schemes not conventionally defined as CIS to fall under the definition. For instance, partnership firms operating in the investment business or real estate developers accepting customer advances could be termed as CISs. SEBI has been given the power to specify conditions under which any scheme or arrangement can be defined as a CIS. This raises the question of whether this is excessive delegation of legislative powers - usually the parent act defines the entities to be regulated and the details are entrusted to the regulator. b) Disgorgement (repayment) of unfair gains/ averted losses SEBI has in the past issued orders directing market participants to refund i) profits made or ii) losses averted, through unfair actions. The Bill deems SEBI to have always had the power to direct a market participant to disgorge unfair gains made/losses averted, without approaching a court. This power to order disgorgement without approaching a court is in contrast with the provisions of the recently passed Companies Bill, 2011 and the draft Indian Financial Code (IFC) which require an order from a court/tribunal for disgorgement of unfair gains. Further, the Bill specifies that the disgorged amount shall be credited to the Investor Education and Protection Fund (IEPF), and shall be used in accordance with SEBI regulations. The Bill does not explicitly provide the first right on the disgorged funds to those who suffered wrongful losses due to the unfair actions, unlike the draft IFC. c) Investigation and prosecution The Bill empowers the SEBI chairman to authorise search and seizure operations on a suspect’s premises. This does away with the current requirement of permission from a Judicial Magistrate. This provision removes the usual safeguards regarding search and seizure as seen in the Code of Criminal Procedure, 1973, the recently passed Companies Bill, 2011 and the draft Indian Financial Code. The Bill also empowers an authorised SEBI officer to, without approaching a court, attach a person’s bank accounts and property and even arrest and detain the person in prison for non-compliance of a disgorgement order or penalty order. Most regulators and authorities, with the exception of the Department of Income Tax, do not have powers to such an extent. d) Other Provisions of the Bill The Bill retrospectively validates consent guidelines issued by SEBI in 2007 under which SEBI can settle non-criminal cases through consent orders, i.e., parties can make out-of-court settlements through payment of fine/compensation. The United States Securities and Exchange Commission settles over 90% of non-criminal cases by consent orders. The Bill retrospectively validates the exchange of information between SEBI and foreign securities regulators through MoUs. The Bill sets up special courts to try cases relating to offences under the SEBI Act, 1992. For a PRS summary of the Bill, here.
