Mr. Speaker, Sir, yesterday the hon. Minister and today the Chairman of the Select Committee have fully explained the various clauses of the Bill and certain important changes that have been effected by the select Committee. I propose to confine myself to two or three important features of the bill which require re-examination and close attention by the Government. Sir, I need hardly emphasise the important role which the electricity supply undertakings play in the national economy of the country. Indeed, the development in other spheres depends upon the full development of the supply of power, and this Bill is of vital importance, affecting as it does the development of electricity supply undertakings in the country. I am focussing attention on the role that the private electricity undertaking are playing in the supply of electric power with a view to drawing the attention of Government to the difficulties that are bound to be faced by these electricity undertakings in one or two directions. In this connection, I would not, therefore, like to take much of the time of the House, but I would like to draw the attention of the hon. Minister to what my hon. friend, Shri Tulsidas, has stated and with whose comments, I am in full agreement. As a matter of fact, the approach of the Government to the Bill is to fulfill three basic considerations, so vital for the healthy growth of this industry. Firstly, that its proper control and regulation is but necessary. I fully agree that this is subject to certain differences on basic aspects, but the important consideration governing this Bill is to attempt at providing suitable incentives to the industry, which alone can enable it to increase its capacity to the desired extent. Therefore, I would like to refer to the incentives as provided in the Bill and to the need for liberalising the clause in respect of the fair return to the investors in these undertakings I would like to draw the attention of the hon. Minister to the fact that since the passing of the original Act in 1948, only 8 states throughout the country have constituted the Statutory Electricity Boards. Among these States are Madhya Pradesh, West Bengal, Tamil Nadu, Kerala, Rajasthan, Punjab, Orissa and Maharashtra, and therefore we find that many of the States have still to constitute these Electricity Boards. I would like to know from the hon. Minister why in the matter of the constitution of Electricity Boards, many of the States have not implemented the provisions of the Bill and what the Central Government have done to ensure that these electricity boards are constituted in all the States, as desired in the provisions of the original Act. Perhaps, it may have been the problem of taxation which some of the States may have in view while not proceeding with the constitution of the electricity boards, but whatever might be the reason, and even as far as this question of taxation is concerned, the Central Government may have to lay down some sort of subvention or such other assistance as is found necessary. I think that this matter of the constitution of the electricity boards throughout all the States is of vital importance and should be looked into by the Central Government to ensure that necessary steps are taken in the remaining States for the constitution of these boards. I would now like to say something about the deferred taxation reserve about which the hon. Minister yesterday said that the amendment regarding this has been brought forward At the instance of the federation of Electricity Undertakings. The whole complication arise due to the fact that the provisions of the Income tax Act and the provisions of the Electricity Supply Act are contradictory to each other. While the Income tax Act with an accelerated depreciation in earlier years results in larger tax relief in the earlier period, and thereby the tax liability of the undertakings is deferred for a future period the Electricity Supply Act restricts the provision of depreciation to a much lesser degree and to that extent the profits of the electricity undertakings in regard to the Income-tax development and depreciation rates are restricted. That Act lays down a smaller depreciation as compared to what is allowed under the Indian Income tax Act. What has now been done has been put with certain restrictions that it does not really solve the demand that was put forward by the Federation. As a matter of fact, if the electricity undertakings should have been allowed to set aside that reserve for taxation liability for future years out of the profits which they earn year by year, out of the rate increase which they have put into force from time to time that would have met the needs of the situation. But the clause as it has emerged would rather create more difficulties than solve them and it has therefore, been further represented to the Minister by the Federation of Electricity Undertakings. Submit