The Government said it was “very confident” of the passage of the Finance Bill in Parliament despite plans by the Opposition to introduce cut motions on the legislation.
“We are very confident (of the passage of the Finance Bill). The Opposition is there to oppose. They would also like to embarrass the Government on various issues. But both believe in parliamentary democracy,” Law Minister M. Veerappa Moily told reporters on the sidelines of a programme here.
He was asked whether the Government was confident of the passage of the Finance Bill in the Lok Sabha as the opposition has joined hands to corner the UPA on the price rise issue.
Earlier, speaking on Intellectual Property Rights (IPR) at a conference organised by Assocham, Moily stressed on the need to have a “roadmap” to protect the rights of the industry.
He said national interests will remain dominant in the new IPR regime which will do full justice to the Indian industry, especially the small and medium.
The minister also stressed the need for a strong economic and institutional regime to take advantage of knowledge revolution which can provide overall framework for directing economy to reach its intended objectives.
Moily hoped that High Courts (Commercial Division) Bill, which aims at removing all hindrances in FDI inflow as also resolving inter-continental corporate disputes, will be passed in the forthcoming Monsoon session.
The Bill was referred to a Select Committee by the Rajya Sabha recently.
Moily said once the Bill is passed by Parliament, a new arbitration system for resolving inter-continental disputes between various corporates would come into effect so that inflow of investments is not prevented.