Amid protests, LS approves contentious biodiversity bill

The Lok Sabha has passed the Biological Diversity (Amendment) Bill, 2021, which aims to amend the Biological Diversity Act of 2002. The legislation seeks to promote ease of doing business in the biodiversity sector and decriminalizes all offences under the conservation law. Critics argue that the modified provisions of the bill can lead to unchecked commercialization and deny benefits to local communities that hold traditional knowledge. The bill also encourages foreign investments in the Ayush sector and aligns the definition of a foreign company with the Companies Act, 2013.