Speaking during an online discussion, the minister said the National Data Governance Framework Policy has provision for handling anonymisation of data -- which is not part of the DPDP Bill 2022.
The new bill raises the penalty provisions for entities failing to protect individuals from data breaches from Rs 15 crore to Rs 250 crore.
Draft bill on Digital Personal Data Protection skips 'Right to Privacy' in preamble, govt gets unrestrained powers: CUTS
The bill skips mention of the fundamental right to privacy in its preamble and narrows the scope of the law from data protection to digital personal data protection excluding non-personal data.
The new bill retains the exemptions to government and government agencies in the pretext of national security, and maintenance of public order.
"The bill is mainly to make those entities accountable that are monetising data. In case of a data breach even the government is not exempted," the source said.
The bill comes in place of the Personal Data Protection Bill 2019 which was withdrawn by the government from Parliament in August.
Non-fulfilment of additional obligations of Significant Data Fiduciary under sections 11 and 16 of the Act may attract Rs 150 crore and Rs 10 crore fines, respectively.
The same set of penalties will be applicable to the Data processor -- which will be an entity that will process data on behalf of the Data Fiduciary.
The government in August withdrew the Personal Data Protection Bill from Lok Sabha and said it will come out with a 'set of fresh legislations' that will fit into the comprehensive legal framework.
Last week, the Union government withdrew the Personal Data Protection Bill 2019, which has been in the woods for five years.
The industry was critical of the data protection bill tabled in Parliament by the Joint Committee on Personal Data Protection Bill.
Centre withdraws Data Protection Bill from Lok Sabha, plans new 'set of legislations' in Winter Session
The Bill could be replaced by more than one bill, dealing with privacy and cyber security and the government may bring the new set of bills in the Winter Session of Parliament.
The much-awaited bill on data protection -- being drafted by a committee of experts headed by Justice BN Srikrishna (retd) -- is likely to be ready by March.