Economic Stimulus Package Part 5 Announced by Mrs Nirmala Sitharaman
Today’s announcement covered 7 step measures comprising: 1. MANREGA; 2. Urban and rural Health and educational sector; 3. Businesses and Insolvency Bankruptcy Code 4. Decriminalisation of Companies Act, 2013 5. Ease of Doing Business reforms 6. Public Sector enterprises and policy thereof, 7. State Government and resources related to State Governments. Lastly the Finance Minister detailed the allocation of Rs 20 Lakh Crores towards each reform announced over the past 5 days.
Economic Stimulus Package Part 4 announced by the Finance Minister
Today, to give life to Prime Minister’s vision, to Reform, Perform and Transform and to prepare for tough global competition, Policy Simplifications for many sectors to bring transparency has been announced. Specifically, the Finance minister announced reliefs and measure covering 8 sectors – COAL, Minerals, Defence production, Air space management, maintenance repair and overhaul, power distribution companies, space sector, and Atomic energy.
The state government of Gujarat rescinds its earlier applicability on contract labour Act
The Labour and employment department of Gujarat vide its notification dated 13th May 2020 has notified that the contract labour (regulation and abolition) Act 1970 shall be applicable only to establishments and contactors employing twenty or more workmen.
IRDAI has granted additional time for filing quarterly return.
The Insurance Regulatory and Development Authority of India in its circular dated 13th May 2020 has granted additional time of one month to file the quarterly returns for the quarter ending 31.3.2020.
SEBI further extends timelines for trading members / clearing members
The extensions are in furtherance of the relaxations in timelines for compliance with various regulatory requirements by the trading members / clearing members, provided vide prior circulars.
Economic Stimulus Package Part 3 announced by the Finance Minister
Recalling the Prime Minister’s Nation Wide Address on 12th May 2020, the Finance Minister announced the Part 3 of the Economic Stimulus Package focused on Supply Chain reforms in Agriculture, Animal Husbandry, fisheries and Allied Activities. 11 measures were announced in support of Agriculture, where 8 were on infrastructure, building logistics, storage capacities, and the rest 3 on Governance and Administrative reforms.
CBIC has brought onboard e-SANCHIT App one more PGA namely Registrar of Newspapers of India (RNI) with its LPCOs
The Central Board of Indirect Taxes & Customs) vide circular dated 14th May, 2020 has brought onboard e-SANCHIT App one more PGA namely Registrar of Newspapers of India (RNI) with its LPCOs.
Economic Stimulus Package : Aatmanirbhar Bharat Part 2 Announced by Finance Minister
Towards Building a Aatmanirbhar Bharat, the Finance Minister, Mrs Nirmala Sitaraman, made the second Tranche of Announcements today focusing on Migrant workers, Street Vendors, Small Trader, Self Employed People, and Small Farmers. The announcement comprised of Nine steps, 3 relating to migrant workers, 1 relating to Sishu Loan within the Mudhra, 1 related to street vendors, 1 on Housing, 1 on employment generation for tribals, 2 related to farmers, particularly small farmers.
FSSAI facilitates food businesses amid COVID 19 pandemic
Food Safety and Standards Authority of India Vide press release dated May 12, 2020 has clarified that there is a need to counter myths and misinformation regarding transmission of Covid 19 through food.
Union Minister for MSME examines request to register Retailers and Building and Construction Professionals as MSMEs
The Union Minister for MSMEs and Road Transport and Highways, Shri Nitin Gadkari through the press release on 09 May 2020 has assured the Retailers Association of India and Practicing Engineers, Architects and Town Planners Association (India) that their request for registering as MSMEs will be examined.
