CHENNAI: The assurances given by the Centre in Rajya Sabha (RS), pertaining to queries on adverse impact of demonetisation on micro, small and medium enterprises (MSMEs) and irregularities and corruption in Navratna companies will be scrutinised by a 10-member Committee of Government Assurances, RS, which will be visiting Madurai on Tuesday.
The duty of the committee, constituted under rule 212 A of the Rules of Procedure and Conduct of Business in Rajya Sabha is to scrutinise assurances, promises, undertakings, etc., given by the ministers from time to time on the floor of the House and to report the extent to which such assurances have been fully or satisfactorily implemented and when implemented, whether such implementation has taken place within the minimum time necessary for the purpose or whether there has been an inordinate delay.
The focus of the committee, headed by A Navaneethakrishnan, will be on the query, raised by Wansuk Syiem, a Meghalaya RS member, on December 18, 2018, whether micro and small business firms are still reeling under the impact of demonetisation with a bumpy start for the GST regime and whether loan default margin of MSMEs doubled over the last year from Rs 8,249 crore by March, 2017 to Rs 16,118 crore by March, 2018.
The MP had also questioned demonetisation, quoting statistics which indicated demonetisation had failed to reduce size of the cash-based economy with ATM withdrawals from 66 different banks in April 2018, up by 22 per cent from the same period last year. The then Minister of State for Finance Pon Radhakrishnan had said then that information was being collected.
The committee visiting Madurai will hold talks with managements of IOB and Indian Bank along with representatives of RBI and Ministry of Finance in connection with assurances given by the Centre over adverse impact of demonetisation on MSMEs.
The other issue pertains to assurances given by the then Minister of State for Heavy Industries and Public Enterprises Babul Supriyo over queries by Rajya Sabha member Veerendra Kumar on February 7, 2019 whether the government was aware of irregularities and corruption in Navaratna companies and whether steps were being taken to prevent corruption in public sector companies.
It is learnt that the committee will be meeting managements of Bharatiya Nabhikiya Vidyut Nigam Limited, Neyveli Lignite Corporation, United India Insurance Company, Sethusamudram Corporation Limited and the Ministry of Heavy Industries and Public Enterprises, Coal Finance and Department of Atomic Energy. The committee will also visit Thiruvananthapuram on September 20 to discuss issues pertaining to demonetisation and MSMEs.