The official amendments to "The Pension Fund Regulatory and Development Authority Bill 2011," "The Banking Laws (Amendment) Bill, 2011" and "The Insurance Laws (Amendment) Bill 2008" will be moved in the current session of the Parliament.

During his budget speech in the Lok Sabha, Friday, the Union Finance Minister Pranab Mukherjee said that "these amendments are based on the recommendation of the Standing Committee on Finance that has gone into details of the above bills."

Government Takes Steps to Finalize Pricing and Investment Policies for Urea

Presenting the General Budget 2012-13, Pranab Mukherjee informed that various measures have been taken by the Government to finalize pricing and investment policies for urea.

Mukherjee said that for potassic-phosphatic (P&K) fertilizer, use of Single Super Phosphate (SSP) will be encouraged through greater extension work.

He also said that as the fertilizer is manufactured entirely in the domestic sector, enhanced production will bring down the country's dependence on P&K import.

Furthermore, he stated that with the implementation of the investment policy in this sector, it is expected that the country will become self-sufficient within the next five years.