YSRCP To Oppose Anti-People FRDI Bill

The YSR Congress Party will oppose the proposed Financial Resolution and Deposit Insurance (FRDI) Bill for its clear “anti-people” dimensions. Tirupati MP and YSRCP national spokesman, V. Varaprasad said that it was up to the Centre to maintain the stability and solvency of the financial system. The Union government could not abdicate its responsibility and leave the depositors high and dry, he said, in an oblique reference to the bail-in clause in the bill.

Varaprasad said that his party proposes to move three private member Bills during the ongoing winter session of Parliament. The first one relates to Special Category Status to Andhra Pradesh, which has particular relevance in the light of the provisions of the Andhra Pradesh Reorganization Act 2014. The other proposed bill relates to disqualification of floor crossing of MPs and MLAs with immediate effect, while the third seeks making justiciable the election manifestos of ruling parties.

The Tirupati MP said that parties should be held accountable for election promises and that the judiciary should step in if required, in the case of aggrieved people. He said he would move a private member Bill to this effect. The TDP should have provided at least ₹60,000 as unemployment allowance to the jobless youth in AP as per its election promise, he said.

YSRCP Chief Whip in Parliament Y.V.Subba Reddy would move a private member bill on the immediate disqualification of defector MPs and MLAs whose actions thumbed their nose at the democratic process, particularly in the context of the ruling TDP in Andhra Pradesh making them state ministers.

YSRCP MP and national general secretary V. Vijayasai Reddy would move a private member Bill on Special Category Status to Andhra Pradesh, he said.