Hardeep Singh Puri to Introduce Oilfields (Regulation and Development) Amendment Bill, 2024 in Rajya Sabha

Hardeep Singh Puri to Introduce Oilfields (Regulation and Development) Amendment Bill, 2024 in Rajya Sabha

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri is scheduled to introduce the Oilfields (Regulation and Development) Amendment Bill, 2024 in the Rajya Sabha today. This bill seeks to amend the Oilfields (Regulation and Development) Act, 1948, which governs the regulation and development of oilfields in India.

What is a Bill?

A bill is a proposed piece of legislation presented for debate and approval in Parliament. It must pass through several stages of scrutiny and debate before it can become law. Once approved by both houses of Parliament and receives the President’s assent, it is enacted as a law. The Oilfields (Regulation and Development) Amendment Bill, 2024 aims to update and amend provisions of the existing Act to address current needs and challenges in the oil and gas sector.

From Bill to Act

The Oilfields (Regulation and Development) Act, 1948, originally established the framework for the regulation and development of oilfields in India. Over time, as industry practices and regulatory needs evolved, amendments became necessary to ensure that the law remains relevant and effective. The amendment bill, once passed, will modify the existing Act to enhance its effectiveness in managing oilfields and oil resources.

Constitutional Provisions

The legislative process for bills is outlined in the Constitution of India. Key provisions include:

- Article 110: Defines the process for the introduction and passage of money bills, which include financial provisions.

- Article 117: Covers the procedure for introducing non-money bills, including those related to regulations like the Oilfields Act.

- Article 123: Provides for the President’s power to issue ordinances when Parliament is not in session, which can be used to address urgent legislative needs.

Parliamentary Activities Today

In addition to the introduction of the amendment bill, several other parliamentary activities are scheduled:

- Suresh Gopi: Will present the report of the Comptroller and Auditor General of India on the audit of selected Central Public Sector Enterprises under the Ministry of Petroleum and Natural Gas.

- Discussions: Discussions on the working of various ministries, including agriculture and farmers welfare, new and renewable energy, and cooperation, are expected. MPs Derek O'Brien, Tiruchi Siva, and Randeep Singh Surjewala will lead discussions on these topics.

Lok Sabha Activities

In the Lok Sabha, Union Minister Arjun Ram Meghwal will introduce the Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of Goa Bill, 2024. This bill aims to provide reservation for Scheduled Tribes in Goa's Legislative Assembly. Other motions for the election of members to the National Jute Board and the Employees' State Insurance Corporation will also be moved.

Conclusion

The introduction of the Oilfields (Regulation and Development) Amendment Bill, 2024 represents a significant step in updating the regulatory framework for India’s oil and gas sector. As Parliament continues its session, these legislative activities will shape the future of resource management and representation in India.