Lok Sabha passes New Delhi International Arbitration (Amendment) Bill

New Delhi [India], August 8 : Lok Sabha on Monday passed a Bill to rename the New Delhi International Arbitration Centre as the India International Arbitration Centre.
Speaking about the New Delhi International Arbitration Centre (Amendment) Bill, 2022, Union Law Minister Kiren Rijiju said the objective of the amendment is to have world-class arbitration in the country. He said that though it is a small Bill, sometimes "a small step can be a giant leap".
The Minister further said that arbitration would also help in reducing the pendency of cases in the country.
The Monsoon Session of the Parliament ended four days ahead of schedule.
The ongoing Monsoon Session of Parliament, which began on July 18, entered its final week, and though the session was scheduled to conclude on August 12, both the Houses of the Parliament adjourned sine die.
Today, Vice President and Rajya Sabha Chairman M Venkaiah Naidu were accorded a farewell in the House with Prime Minister Narendra Modi and other top leaders in attendance. Naidu demits office on Wednesday and his successor Jagdeep Dhankhar will take the oath of office on August 11.
Prime Minister Narendra Modi today hailed M Venkaiah Naidu's wit and one-liners as he praised his five-year term as vice president and Rajya Sabha chairman during which the "productivity of the House increased 70 per cent".
In his farewell speech for Naidu in Rajya Sabha, PM Modi said the outgoing chairman encouraged dialogue and has set standards and legacy that will continue to guide his successors. Naidu completes his five-year term on August 10.
"We are not enemies, we are rivals. We must work hard to outshine others in competition but not run down others. My wish is that Parliament functions well... I'm thankful and moved by your love and affection," said M Venkaiah Naidu, in his last remarks as the Rajya Sabha Chairman and Vice-President.
Members cutting across party lines Monday bade farewell to vice president M Venkaiah Naidu, lauding his role as Rajya Sabha chairman and recollecting how he inspired and allowed them to speak in their native languages. While some Opposition members urged him to pen an autobiography, Leader of Opposition in Rajya Sabha Mallikarjun Kharge appreciated how Naidu functioned despite being "under pressure".
Throughout the session, which began on July 18, the government and opposition have been at loggerheads over a host of issues, including inflation, alleged misuse of central agencies against opposition leaders, etc. During the second week, as many as 24 MPs (20 from Rajya Sabha and 4 from Lok Sabha) were suspended. However, the suspension of the Lok Sabha members - all from Congress - was later revoked.