Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>The amendment to the <keyword id="95281" type="PERSON" weightage="20" keywordseo="Essential-Commodities-Act">Essential Commodities Act</keyword> was introduced as a part of the slew of reforms that Finance Minister Nirmala Sitharaman introduced in May 2020 as relief measures for COVID-19 pandemic.</li><li>Through the amendments, better price realisation will be made possible for <keyword id="45092" type="COMPANY" weightage="20" keywordseo="farmers">farmers</keyword> and cereals, edible oils, oilseeds, pulses, onions and potatoes will be deregulated. </li></ul>The monsoon session of the parliament will begin on September 14, and one of the amendments that will be up for discussion is for the Essential Commodities Act. Introduced as a part of the slew of reforms that Finance Minister Nirmala Sitharaman introduced in May 2020 as relief measures for the COVID-19 pandemic and the ₹20 trillion stimulus package, the government had said it was a landmark decision which would help India’s farmers. The amendment was a step towards creating ‘One India, One <keyword id="6355165" type="UNKNOWN" weightage="20" keywordseo="agriculture">agriculture</keyword> market’. The Essential Commodities Act (ECA) was passed by the Union Cabinet in June and is now an <keyword id="152892" type="PERSON" weightage="20" keywordseo="Ordinance">ordinance</keyword>. The ECA will lapse if it doesn’t get cleared by the Parliament in this session. Amendments to the Essential Commodities Act Through the amendments, better price realisation will be made possible for farmers and cereals, edible oils, oilseeds, pulses, onions, and potatoes will be deregulated. Stock limits will be imposed only under exceptional circumstances like national calamities, famine with a surge in prices. No such stock limit shall apply to processors or value chain participants, or any exporter subject to export demand. According to PRS, a stock limit may only be imposed if there is: (i) a 100% increase in the retail price of horticultural produce; and (ii) a 50% increase in the retail price of non-perishable agricultural food items. What is referred to as Essential Commodity? Currently, essential commodities are defined as per the schedule within the act. The schedule entails drugs (fertilisers – inorganic, organic or mixed), petroleum and petroleum products, food products, raw jute and jute textiles, seeds of food crops, fruits, vegetables, and cattle fodder, jute seed, cottonseed. During this COVID-19 pandemic, face masks and hand sanitizers were added to the list. This was due to the scarcity of the products, and as there were cases of a price increase. However, deeming them essential the government notified that their prices cannot be increased. The notification was in force until June 30, and the two items <a href="https://economictimes.indiatimes.com/news/economy/policy/hc-rejects-plea-seeking-to-classify-masks-sanitisers-as-essential-commodities/articleshow/77611390.cms">aren’t classified</a> as essential anymore, once the availability in the market improved. What is the Essential Commodities Act initially implemented in 1955? The act was brought into place for the control of the production, supply and distribution of, and trade and commerce, in certain commodities. The act then allowed the government of India to control the price of essential commodities, and also decide to increase or decrease the supply of the product in the market. It also gives the government to regulate through licences, permits or otherwise the storage, transport, distribution, disposal, acquisition, use or consumption of any essential commodity. However, in recent years the Essential Commodities Act has come under a lot of debate. It has also been called ‘<a href="https://theprint.in/opinion/draconian-essential-commodities-act-needs-to-go-if-india-wants-to-raise-farm-incomes/183006/">draconian</a>’ by certain sections as it gives the government complete control. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/the-epidemic-diseases-amendment-ordinance-protecting-the-corona-warriors/articleshow/78038114.cms">The Epidemic Diseases (Amendment) Ordinance — protecting the ‘corona warriors’</a>

Monsoon session of Parliament: All you need to know about the Essential Commodities ordinance

<ul><li>The Ordinance seeks amendments to the 125-year-old <keyword id="552772" type="PERSON" weightage="20" keywordseo="Epidemic-Diseases-Act">Epidemic Diseases Act</keyword>, 1897, that protects health workers in the country. </li><li>The Indian government in April approved an ordinance that recognised any crime against health workers in India as a “cognizable and non-bailable” offence. </li><li>It means that offenders can be arrested without a warrant, and no bail will be granted. </li></ul>The Indian government is preparing to introduce over 20 bills for discussion in the monsoon session of the Parliament, which is slated to begin on September 14. Moreover, 11 ordinances will also have to be passed during the session, as most of them face an expiration date by the winter. Among the ordinances to be discussed is Epidemic Diseases (Amendment) Ordinance 2020. The Ordinance seeks amendments to the 125-years-old Epidemic Diseases Act, 1897, that protects health workers in the country. What is the Epidemic Diseases (Amendment) Ordinance 2020? The Indian government in April approved an ordinance that recognised any crime against health workers in India as a “cognizable and non-bailable” offence. It means that offenders can be arrested without a warrant, and no bail would be granted. Offenders can also be fined anywhere between ₹50,000 to ₹2 lakh and will also have to serve a prison term between 3 months to five years, Union Minister Prakash Javadekar had said in April. Moreover, people who damage the vehicles of healthcare workers or clinics will have to compensate by paying twice the value of the damaged property. These cases will be fast-tracked. An investigation against such cases will take place within 30 days, and a decision will be announced within a year. Why the need to amend the Epidemic Diseases Act 1987 now? The Epidemic Diseases Act is a century-old law enacted when Bombay (Mumbai) was hit by Bubonic plague. Over the years, it has been used to prevent the spread of epidemics including H1N1 influenza in 2009, Cholera in 2018 etc. Ever since the pandemic began, several <a href="https://www.businessinsider.in/politics/india/news/indian-doctors-attacked-abused-assaulted-while-fighting-coronavirus/articleshow/74961776.cms">incidences of abusive behaviour</a> against the doctors came to light. People were said to be pelting stones and attacking health workers. At some places, a mob tried to stop a medical team from taking a <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> infected man into isolation. The Indian government then said that it will not tolerate any incident of violence or harassment against the doctors. Since the amendments were made in April and is applicable during the pandemic only Several experts have lauded the ordinance and<a href="https://indianexpress.com/article/opinion/columns/covid-19-pandemic-coronavirus-ima-indian-medical-association-ordinance-ensuring-doctors-safety-6380562/"> asked</a> the government to extend the ordinance to post-COVID period as well. “The ordinance has been brought as an amendment to the Epidemic Diseases Act, 1897, and hence, may become infructuous after the pandemic is declared over. We do hope that the pandemic dies down at the earliest, but want an assurance that the ordinance will remain in force,” <a href="https://indianexpress.com/article/opinion/columns/covid-19-pandemic-coronavirus-ima-indian-medical-association-ordinance-ensuring-doctors-safety-6380562/">Dr S K Sarin, Director, Institute of Liver and Biliary Sciences wrote. </a> SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/isro-doubles-down-on-startups-and-msme-for-space-technology-launches-seed-program-and-reviews-over-200-applications-under-arise-mission/articleshow/78037431.cms">ISRO doubles down on startups and MSME for space technology — launches SEED program and reviews over 200 applications under ARISE mission</a>

What is the Epidemic Diseases (Amendment) Ordinance — key provisions up for Parliament's consideration

<ul class="summary-list"><li>Following a city council vote, <keyword id="6354803" type="LOCATION" weightage="60" keywordseo="Los-Angeles">Los Angeles</keyword> is one step closer to an indoor vaccine mandate.</li></ul>The Los Angeles City Council voted 13-0 on Wednesday in favor of implementing an indoor vaccine mandate for public spaces in the city, moving one step closer to drafting the ordinance and enshrining it into law.The council directed the city attorney to draft an ordinance, which would require residents to show proof of immunization in indoor spaces like restaurants, gyms, stores, theaters, stadiums, and music venues, following a similar ordinance <a href="https://www.businessinsider.com/nyc-expcted-require-proof-of-vaccination-indoor-dining-gyms-performances-2021-8">implemented</a> in New York City last week. "If we ever want to get back to normal, to what Los Angeles was like pre-COVID, we need to stop the spread," said Council President Nury Martinez. "If individuals want to go to their gym, go to their local bar without a mask, you need to get vaccinated. And if you want to watch a basketball game, a baseball game, go to a concert in a big venue, or even go in to a movie theater, you need to get a shot."This story is developing. Check back for updates.

Los Angeles City Council votes unanimously in favor of indoor vaccine mandate, city attorney to draft ordinance

<ul><li>Citing the example of other industries where there are no restrictions on how producers sell their products, Finance Minister Nirmala Sitharaman said that farmers should have the choice to sell their produce at attractive prices. </li><li>To this end, Sitharaman said that the government will formulate a central law that will provide barrier-free inter-state trade, along with a framework for online trading of agricultural produce. </li><li>However, for this to pass muster, the government will have to garner support from the opposition parties and farmer bodies, who think APMCs are needed to ensure farmers get a good price for their produce. </li></ul>The Modi government is using COVID-19 crisis to push through the <keyword id="6366428" type="UNKNOWN" weightage="20" keywordseo="APMC">APMC</keyword> reforms it has been talking about for a long time. Finance Minister Nirmala Sitharaman made the announcement in the third tranche of the Covid-19 stimulus package today, May 15. Making the announcement, Sitharaman said that this move will give the choice to sell their produce at attractive prices, instead of being tied down to their local APMCs (Agriculture Produce Market Committee). “When you create competition for farmers’ produce, the price improves. There are more buyers, more choices. Farmers will get the benefits of that. Whether you have one buyer or ten buyers for a service makes a difference,” said Ashok Gulati, former chairman of the Commission for Agricultural Costs and Prices. <div type="Article" hostid="261" msid="75756781" title="These are the top takeaways from Finance Minister Nirmala Sitharaman's third installment from Modi's ₹20 lakh crore stimulus" mstype="2" mssubtype="0"></div> APMC reforms might hit a roadblock in non-BJP ruled states Modi has been batting for APMC reforms for a long time now. “It is imperative to swiftly undertake market reforms of our decades old and restricted agriculture produce and marketing committee (APMC) architecture,” PM Modi <a href="https://www.livemint.com/Politics/M6HMO4jTZrn1iwwbypaEbL/Narendra-Modi-calls-for-swift-APMC-reforms-to-benefit-farmer.html">said</a> in a letter to Chief Ministers in 2018. However, these reforms might hit a roadblock in non-BJP ruled states. “The APMCs have existed since 1963 and there is a good reason they have been around for such a long time. Reform is welcome but it cannot endanger an existing structure. Our party will oppose this proposal if and when it comes before the legislature," a NCP leader was quoted as saying by <a href="https://www.livemint.com/Politics/reRgHJ4NW4Sl4EJMXRyzHJ/APMC-reforms-in-Maharashtra-hit-a-roadblock.html">Livemint</a>. Those who favour the existing APMC structure <a href="https://timesofindia.indiatimes.com/city/mysuru/farmers-oppose-proposed-amendment-to-apmc-act/articleshow/75744758.cms">argue</a> that diluting APMC reforms will give power to multinational companies and corporates. They are also concerned about minimum support price guarantee, without price regulation in place. So far, only BJP-ruled states like Gujarat, Madhya Pradesh and Uttar Pradesh have passed APMC reforms. The Karnataka government issued an ordinance, but it was <a href="https://timesofindia.indiatimes.com/city/bengaluru/bengaluru-governor-returns-apmc-reforms-ordinance/articleshow/75729589.cms">returned</a> by the state governor earlier today. Sitharaman says the changes will empower farmers Making the announcement, Sitharaman said that farmers should have the freedom of choice to sell their agricultural produce at attractive prices. Further, she said that no other industry restricts producers from selling their product to whomever they want, and at their desired prices. To solve this problem, Sitharaman said that the central government is working on a law. This will remove barriers to inter-state trade and allow farmers to sell their produce to the highest bidder, which should result in increasing their incomes. Apart from this, she also said that a framework for online trading of agricultural produce will also be worked upon. It is likely that this framework will be on the lines of e-NAM, which is a national agriculture market with an online trading platform for farmers. What’s wrong with APMCs? APMCs were set up with the intention to increase farmers’ incomes by making it easier to sell their produce without having to deal with commission agents. However, the government criminalised setting up of competing markets in the same area, essentially creating a monopoly in the form of APMCs. This led to traders forming cartels to artificially lower prices of the agriculture produce they buy from farmers. A 2012 <a href="https://www.cci.gov.in/sites/default/files/AO.pdf">report</a> by the Competition Commission of India cites the example of a visit to Ahmednagar APMC which revealed collusion among traders. These traders then sell the produce at higher prices to end consumers. While APMCs were formed to benefit farmers, it’s the traders who end up milking both farmers as well as consumers. See also: <a href="https://www.businessinsider.in/india/news/essential-commodities-act-to-deregulate-price-of-potatoes-onions-and-pulses/articleshow/75758676.cms">India proposes to deregulate prices of onions, potatoes, pulses and other essential food — prices won’t be capped and one can store as much as needed</a> <a href="https://www.businessinsider.in/politics/policy/news/what-is-essential-commodities-act-that-nirmala-sitharaman-wants-to-amend/articleshow/75759156.cms">What is the Essential Commodities Act – the 65-year old act that FM Nirmala Sitharaman said will now be amended</a>

Modi is using the COVID-19 crisis to push through APMC reforms he has wanted for long⁠— but states may oppose

<ul><li>The government maintains that this is necessary in view of the ICJ's ruling in June last year, in which it had asked Pakistan to give <keyword id="4434811" type="PERSON" weightage="20" keywordseo="Jadhav-consular-access">Jadhav consular access</keyword> while hearing an appeal filed by India against the death sentence handed to him through a military court trial process. </li><li>However, the opposition parties describes the ordinance as an attempt to facilitate a reprieve for Jadhav, who they call an Indian spy working for Research and Analysis Wing (RAW), in a sneaky manner through a suspected secret deal. </li><li>Major opposition parties are geared up to strongly oppose the ordinance in the Senate, the upper house of parliament, calling it a matter of "national security". </li></ul>The <keyword id="6824371" type="UNKNOWN" weightage="20" keywordseo="imran-khan-government">Imran Khan government</keyword> is expected to table <keyword id="4533921" type="COMPANY" weightage="20" keywordseo="The-International-Court-of-Justice">the International Court of Justice</keyword> (ICJ) Review and Re-consideration Ordinance 2020 in the National Assembly on Monday, even as it faces intense heat from the opposition on the issue. The ordinance seeks to allow alleged <keyword id="4016237" type="PERSON" weightage="20" keywordseo="Indian-spy-Kulbhushan-Jadhav">Indian spy Kulbhushan Jadhav</keyword> the facility to file an appeal in a high court against his conviction. The government maintains that this is necessary in view of the ICJ's ruling in June last year, in which it had asked Pakistan to give Jadhav consular access while hearing an appeal filed by India against the death sentence handed to him through a military court trial process. However, the opposition parties describes the ordinance as an attempt to facilitate a reprieve for Jadhav, who they call an Indian spy working for Research and Analysis Wing (RAW), in a sneaky manner through a suspected secret deal. Major opposition parties are geared up to strongly oppose the ordinance in the Senate, the upper house of parliament, calling it a matter of "national security". Passing the ordinance in the lower house has become a major issue for the government as it has failed to present it at least twice in May, due to strong opposition. "We want to be on the right side of the history. The government faces compulsion; we don't have any compulsion," said opposition Pakistan Muslim League-Nawaz (PML-N) leader Khawaja Asif. Asif reminded that Prime Minister <keyword id="14676" type="PERSON" weightage="20" keywordseo="Imran-Khan">Imran Khan</keyword> was quick to accuse former Prime Minister Nawaz Sharif of making a secret deal with Indian businessman Sajjan Jindal on Jadhav during his meeting with him in <keyword id="1958456" type="LOCATION" weightage="20" keywordseo="Murree">Murree</keyword>. "Purely political announcements were made by Imran Khan before coming in power in 2018. He did not realise the consequences of his accusations back then," he said. "In May 2017, Imran had told a political gathering at Ayub Stadium in Quetta that the execution of the convicted Indian spy had been withheld after Jindal visited Pakistan and met Nawaz Sharif," he said adding that Imran Khan had even asked the Joint Investigation Team (JIT) constituted to probe the Sharif family's foreign assets to also trace their business interests in India. On the other hand, the government will be taking the matter up in a cabinet meeting before the ordinance is sent to the National Assembly for approval. Federal Law Minister Dr. Farogh Naseem called on the opposition parties to avoid politics on the matter, insisting that "India will gain if an ordinance in line with the ICJ verdict is not passed". "This issue is highly sensitive and a matter of national importance. Promulgation of the ordinance is neither a National Reconciliation Ordinance (NRO) nor an appeal," he said. While the government has a compulsion to abide by the ICJ ruling, opposition parties are adamant at not allowing the measure easy transit through the legislature. Opposition parties do not have majority in the lower house but they have a clear majority in the upper house, and warn that if the government succeeds in passing the ordinance in the lower house, they will ensure the upper house rejects it. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/coovid-vaccine-from-oxford-serum-institute-and-astrazeneca-shows-promising-immune-response/articleshow/77069321.cms">The COVID-19 vaccine from Oxford and AstraZeneca shows 'promising' results in early human trials</a> <a href="https://www.businessinsider.in/entertainment/news/dil-bechara-kissing-booth-2-and-other-movies-you-can-watch-on-netflix-amazon-prime-disneyhotstar-this-week/slidelist/77142498.cms">Dil Bechara, Kissing Booth 2 and other movies you can watch on Netflix, Amazon Prime, Disney+Hotstar this week</a> <a href="https://www.businessinsider.in/business/startups/news/work-from-home-effect-these-companies-are-shelling-out-for-employees-power-bills-internet-cost-and-more/articleshow/77139229.cms">WFH effect – These companies are paying for employees' power bills, internet cost and more</a>

Pakistan to reconsider Kulbhushan Jadhav Ordinance in the National Assembly on August 3

<ul class="summary-list"><li>The LA <keyword id="233508" type="ORGANIZATION" weightage="60" keywordseo="city-council">City Council</keyword> passed an ordinance that would prohibit homeless encampments in some areas of the city.</li><li>The measure restricts "sitting, lying, or sleeping or storing, using, maintaining, or placing personal property in the public right-of-way."</li><li>The measure passed Wednesday in a 13-2 vote, but LA <keyword id="11743458" type="UNKNOWN" weightage="60" keywordseo="mayor-garcetti">Mayor Garcetti</keyword> still has the power to veto it.</li></ul>The <a href="https://www.youtube.com/watch?v=U1mjLw1eHt0">Los Angeles City Council</a> voted on Wednesday in favor of an ordinance that would prohibit homeless encampments in some areas of the city.The measure, which would replace a similar version known as <a href="https://clkrep.lacity.org/onlinedocs/2020/20-1376-S1_ord_draft_7-02-21.pdf">Municipal Code 41.18</a>, was co-authored by city council members Paul Krekorian and Mark Ridley-Thomas. It <a href="https://clkrep.lacity.org/onlinedocs/2020/20-1376-S1_ord_draft_7-02-21.pdf">would</a> prohibit "sitting, lying, or sleeping or storing, using, maintaining, or placing personal property in the public right-of-way."There are approximately 40,000 unhoused Angelenos who would be impacted by the ordinance, according to <a href="https://apnews.com/article/los-angeles-lifestyle-business-government-and-politics-4f1ef8aef6c1784e3b1a6193b6ed5016">the Associated Press</a>.Members of the LA City Council first voted on the measure on July 1, approving it in a 13-2 vote. However, a second vote was required because it did not pass unanimously the first time around.The second vote also had 13 in favor and two against. Councilmembers Nithya Raman and Mike Bonin both voted against the ordinance in the meeting.Raman <a href="https://twitter.com/nithyavraman/status/1420436253518958595">posted</a> a thread on Twitter detailing her concerns, saying that "real solutions - housing, outreach, and services - take time and money.""None of it is easy to do," the councilwoman wrote. "But that's exactly what we *need* to be doing, not enacting harmful and illusory 'quick fixes.'"During the meeting, Bonin said pointed to contrasts between "housing" and "sheltering.""We need a right to housing, not a mandate to shelter," Bonin said. "People want housing. They don't want warehousing, they don't want shelter, they want housing." Earlier this month, Krekorian, one of the councilmembers who proposed the ordinance, defended the ordinance to <a href="https://spectrumnews1.com/ca/la-west/homelessness/2021/07/28/los-angeles-city-council-expected-to-approve-ordinance-to-restrict-encampments">Spectrum News</a>, saying it "does not make <keyword id="1599330" type="PERSON" weightage="60" keywordseo="homelessness">homelessness</keyword> illegal," "criminalize homelessness," nor does it "make any conduct that is fundamental to being human illegal""What it does do is it guarantees that we will reestablish passable sidewalks," Krekorian said on July 1. "It protects the users of our public infrastructure and the unhoused residents of our city from being put into positions of interaction with automobiles, around loading docks, driveways, and so forth. It guarantees access to our fire hydrants, entrances to buildings."Some <keyword id="6354803" type="LOCATION" weightage="60" keywordseo="Los-Angeles">Los Angeles</keyword> residents, however, find the ordinance to be unjust. <a href="https://knock-la.com/">Knock LA</a>, an independent journalism platform, captured a few of those disapproving statements while covering the city council meeting."You're creating a problem because you're going to be arresting a lot more homeless people," a resident told <a href="https://spectrumnews1.com/ca/la-west/affordable-housing/2021/07/28/hundreds-protest-la-s-proposed-anti-camping-law-outside-city-hall-">Spectrum News</a> at the Right to Rest Without Arrest Rally, which took place outside of Los Angeles City Hall prior to the Wednesday meeting."The idea is they're trying to keep the homeless people moving all the time," the resident continued. "That's impossible. They get tired. They're carrying their stuff. They need places to live and stay, and they don't have it."The ordinance is not law, yet. Los Angeles Mayor Eric Garcetti still has the authority to veto the measure. Representatives for Garcetti did not immediately return Insider's request for comment.<h2>Watch the meeting here:</h2>

Los Angeles City Council voted in favor of anti-homelessness ordinance that would impact roughly 40,000 unhoused Angelenos

New Delhi, Jun 27 () President Ram Nath Kovind has promulgated the Banking Regulation (Amendment) Ordinance, 2020 to bring all urban cooperative banks and multi-state cooperative banks under the supervision of the RBI in order to protect the interest of depositors. The Ordinance amends the Banking Regulation Act, 1949 as applicable to cooperative banks, an official statement said on Saturday. "The Ordinance seeks to protect the interests of depositors and strengthen cooperative banks by improving governance and oversight by extending powers already available with RBI in respect of other banks to Co-operative Banks as well for sound banking regulation, and by ensuring professionalism and enabling their access to capital," it said. The amendments do not affect existing powers of the State Registrars of Co-operative Societies under state co-operative laws, it added. The amendments also do not apply to Primary Agricultural Credit Societies (PACS) or co-operative societies whose primary object and principal business is long-term finance for agricultural development, and which do not use the words "bank", "banker" or "banking" and do not act as drawees of cheques, it said. "The Ordinance also amends Section 45 of the Banking Regulation Act, to enable making of a scheme of reconstruction or amalgamation of a banking company for protecting the interest of the public, depositors and the banking system and for securing its proper management, even without making an order of moratorium, so as to avoid disruption of the financial system," it said. There are 1,482 urban cooperative banks and 58 multi-state cooperative banks having about 8.6 crore depositors with total savings deposit of about Rs 4.85 lakh crore. The decision assumes significance in the wake of scams in cooperative banks, including the Punjab and Maharashtra Cooperative (PMC) Bank, affecting lakhs of customers who are facing difficulty in withdrawing their money due to restrictions imposed by the Reserve Bank of India (RBI). The RBI had placed regulatory curbs on PMC Bank on September 23, 2019, after finding out certain financial irregularities and misreporting of loans given to real estate developer HDIL. Earlier this month, the RBI had put restrictions on withdrawals from People's Co-operative Bank, Kanpur, Uttar Pradesh. Finance Minister Nirmala Sitharaman had introduced 'The Banking Regulation (Amendment) Bill, 2020' in the Lok Sabha on March 3, 2020, which is pending approval. The proposed law sought to enforce banking regulation guidelines of the RBI on cooperative banks. In her February 1 Budget speech, Sitharaman had proposed amendments to the Banking Regulation Act with an aim to increasing professionalism and improving governance among the cooperative banks. DP ABM ABM

President promulgates ordinance to bring co-operative banks under RBI supervision

New Delhi, Nov 20 () The Union Cabinet on Wednesday approved a bill to replace an ordinance promulgated to reduce corporate tax to 22 per cent to boost the economy.
 After the Cabinet meeting here, Finance Minister Nirmala Sitharaman said decision has been taken to bring the bill to replace the ordinance.
 The bill is likely to be introduced in Parliament during the ongoing Winter Session, sources said.
 On September 20, Sitharaman said the revenue foregone on reduction in corporate tax and other relief measures would be Rs 1.45 lakh crore annually.
 Following the decision, the corporate tax rate has come down to 22 per cent for domestic companies if they do not avail any incentive or concession.
 Also, companies opting for 22 per cent income tax slab would not have to pay minimum alternative tax (MAT).
 The tax rate has been reduced to 15 per cent for new domestic manufacturing companies incorporated after October 1.
 The government had also announced not to levy enhanced surcharge introduced in the Budget on capital gains arising from sale of equity shares in a company liable for securities transaction tax (STT).
 Besides, the government had decided that listed companies which have announced buyback of shares prior to July 5 will not be charged with super-rich tax. DP NKD CS ABM

You Searched For "Ordinance" and got 8 results

Monsoon session of Parliament: All you need to know about the Essential Commodities ordinance

BI India Bureau

What is the Epidemic Diseases (Amendment) Ordinance — key provisions up for Parliament's consideration

BI India Bureau

Los Angeles City Council votes unanimously in favor of indoor vaccine mandate, city attorney to draft ordinance

Azmi Haroun

Modi is using the COVID-19 crisis to push through APMC reforms he has wanted for long⁠— but states may oppose

Rounak Jain

Pakistan to reconsider Kulbhushan Jadhav Ordinance in the National Assembly on August 3

IANS

Los Angeles City Council voted in favor of anti-homelessness ordinance that would impact roughly 40,000 unhoused Angelenos

Taiyler Simone Mitchell

President promulgates ordinance to bring co-operative banks under RBI supervision

PTI

Cabinet clears bill to replace ordinance on corporate tax reduction

PTI

Popular Keywords

Buying Guides