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Informative

Key bills on insurance, bankruptcy may face delays as BJP gets diminished

Update / Judgement Date

03 Jun 2024

Source

Livemint

Author

Team — WCP Legal Desk

Reading Time

1 min read

Insolvency & Bankruptcy Code

Following the BJP's reduced mandate in the 2024 elections, pending bills and proposed legislations might face reconsideration as the party now relies more on allies like the TDP and JD(U) for consensus. Key bills such as insurance and IBC amendments, the Digital India Act, and amendments to IT rules could experience delays.\r


Additionally, the NFIR Bill and amendments to the Insurance Act and IBC might be subject to review. The BJP's weaker position will likely shift focus to labor-intensive projects and prioritize support for the unorganized sector. With allies gaining importance, policy decisions may become more inclusive, departing from past practices of unilateral decision-making. \r


BJP won 95 seats and led in 144, while Congress secured 41 and led in 58, impacting the parliamentary landscape.