General Awareness

GOVERNMENT POLICIES AND SCHEMES - December 2019

Dec 2019

Jan 12, 2021

Punjab Cabinet Approves One-time Settlement Scheme for Traders

The Punjab cabinet approved a one-time settlement scheme for traders to clear their pending arrears. The scheme will be implemented across the state from February 1 and the state exchequer would bear a financial burden of Rs. 121.06 crore.
All dealers whose assessments have been framed up to December 31, 2020 could apply for the benefit under the scheme till April 30.
Various trade associations had urged the state government to introduce a one-time scheme (OTS) for the clearance and settlement of outstanding arrears under the Punjab Value Added tax Act, 2005 and Central Sales tax Act, 1956.

Jan 11, 2021

Gujarat's Amendment to Industrial Disputes Act Gets Presidential Nod

Gujarat's amendment to the Industrial Disputes Act that seeks to increase ease of business by reducing the compliance burden on industries in terms of lay-offs, retrenchment and compensation has received the assent of President Ram Nath Kovind.
The Industrial Disputes (Gujarat Amendment) Bill, 2020, which was passed in the state Assembly in September 2020.
Vipul Mittra, Additional Chief Secretary, state Labour and Employment department, said the amendment aims at reforms to increase ease of doing business, and was carried out on the instructions of Chief Minister Vijay Rupani as per the vision of Prime Minister Narendra Modi.

Jan 10, 2021

Refer Pesticide Bill to Select House Panel

Pesticide manufacturers want the government to refer the Pesticide Management Bill, 2020, pending in the Rajya Sabha, to a select committee of Parliament for wider consultations.
They are of the view that the Bill is fraught with infirmities and will impact farm and pesticide manufacturing sectors.
Introduced in the Rajya Sabha on March 23 last year, it is likely to be taken up for consideration during the upcoming session of Parliament for enactment into a law.
It seeks to replac the present Insecticide Act, which currently governs the registration, manufacturing, exports and use of pesticides in India.

Jan 09, 2021

NHAI Readies Launch of First Government-Sponsored InvIT

India's first government-sponsored Infrastructure Investment Trust (InvIT) could be operationalised by March this year.
Around six road assets worth Rs 5,000 crore have been given in-principle approval for transfer to the InvIT.
The National Highways Authority of India (NHAI), which received approval from the Union cabinet to float the InvIT in December 2019, is in the process of legal vetting of the financing instrument.
NHAI has been actively working on setting up an InvIT to monetise its completed and operational national highways projects with the objective of mobilising additional resources through capital markets.

Jan 08, 2021

Government Approves Central Sector Scheme For Industrial Development Of Jammu & Kashmir

The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi in its meeting considered and approved the proposal of Department for Promotion of Industry and Internal Trade for Central Sector Scheme for Industrial Development of Jammu & Kashmir.
The scheme is approved with a total outlay of Rs. 28,400 crore up to the year 2037.
Government of India has formulated New Industrial Development Scheme for Jammu & Kashmir (J&K IDS, 2021) as Central Sector Scheme for the development of Industries in the UT of Jammu & Kashmir.
The main purpose of the scheme is to generate employment which directly leads to the socio-economic development of the area.
Considering the historic development of reorganization of Jammu & Kashmir with effect from 31.10.2019 into UT of Jammu & Kashmir under the J&K Reorganisation Act, 2019, the present scheme is being implemented with the vision that industry and service led development of J&K needs to be given a fresh thrust with emphasis on job creation, skill development and sustainable development by attracting new investment and nurturing the existing ones.

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