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<ul><li><keyword id="1930805" type="PERSON" weightage="20" keywordseo="Wistron">Wistron</keyword>, one of <keyword id="6354427" type="ORGANIZATION" weightage="20" keywordseo="apple">Apple</keyword>’s manufacturers for the iPhone in India, is facing trouble with the Indian government over the non-payment and delay in payment of wages. </li><li>According to lawyers, allegations against the company are in violation of three Indian labour laws — the <keyword id="695544" type="PERSON" weightage="20" keywordseo="Payment-of-Wages-Act">Payment of Wages Act</keyword> (PWA) of 1936, the Factories Act (FA) of 1948 and the Contract Labour, <keyword id="3938435" type="PERSON" weightage="20" keywordseo="Regulation-and-Abolition-Act">Regulation and Abolition Act</keyword> (CLRA) of 1970.</li><li>Wistron blames the issue of the payment of salaries to a software ‘glitch’ on its system, which could cushion the blow.</li></ul>Supplier of Apple iPhones in India, Wistron, claims a software ‘glitch’ is the reason why its contract employees’ salaries were being unfairly deducted and payments were four days late. A dispute that led to a violent reaction from the workers at the Narasapur (Karnataka) factory who threw stones, damaged some vehicles and looted some of the iPhones kept for export, according to the FIR filed by Wistron against 7,000 people. <div type="image" title="wistron factory damage1_edited" msid="79790340" hostid="261" caption="&amp;lt;p&amp;gt;Damage to Wistron&amp;#39;s factory in Karnataka after employee protests turned violent&amp;lt;/p&amp;gt;"></div> While that argument may help Wistron cushion the blow, lawyers believe that the current allegations against the company are in violation of three Indian labour laws — the Payment of Wages Act (PWA) of 1936, the Factories Act (FA) of 1948 and the Contract Labour, Regulation and Abolition Act (CLRA) of 1970. The company, which also manufactures IT products for Microsoft and Lenovo, is currently being investigated by Apple, the Karnataka government’s Department of Factories, Boilers, Industrial Safety &amp; Health and the Karnataka Police. “Software glitch can be a reason but that is not of any consequence under the law. That is for Wistron to take care and deal with its software provider,” Neeraj Dubey, a corporate law partner at Singh &amp; Associates told Business Insider. Minimum wage and timely payment of wages The state’s labour department preliminary enquiry has deduced that the hiring agencies were not at fault. It was Wistron’s management, which deducted two to four days’ of salary over the past couple of months due to a software ‘glitch’. <div type="image" title="wistron factory damage 2_edited" msid="79791172" hostid="261" caption="&amp;lt;p&amp;gt;Overturned and burned vehicles left in the wreckage of the violence at Wistron&amp;#39;s factory in Karnataka&amp;lt;/p&amp;gt;"></div> The workers <a href="https://www.thenewsminute.com/article/wistron-iphone-plant-violence-workers-say-months-pent-anger-behind-outburst-139681">said</a> that they were angry because they weren’t paid for the additional hours they worked for many months. Things boiled over after the November wages were delayed by four days. “The law mandates salaries to be disbursed by the 7th of every month. Wistron paid contractors on December 10 and those agencies paid workers the next day. The company has said that the delay was because they were trying to fix the technical snag that had led to the deduction of salaries in the previous months,” the labour commissioner told the press. Under the Payment of Wages Act (PWA) of 1936, not paying wages on time is a punishable offence within stipulates a fine at least ₹1,500 for every violation, but could extend to up to ₹7,000 for first offenders. “Although the agency or the contractor is responsible for payment of wages - if they fail to pay the workers, the liability under the Contract Labour Regulation Act is that of the principal employer’s i.e. Wistron in the present scenario,” Avik Biswas, a partner at IndusLaw, told Business Insider. Dubey adds that there is also scope for an additional fine of ₹10,000 for non-maintenance of proper records pressed against Wistron. Laws to specifically protect contract workers Wistron had hired 9,800 employees through six contractors — Creative Engineers, Quess Corp, Innovsource, Adecco Group, Needs Manpower Support Services and Randstad. While 1,343 were permanent employees, the <a href="https://theprint.in/india/missing-contractors-key-to-solving-mystery-of-wistron-iphone-plant-attack-police-begin-hunt/569016/">other 8,490 were hired on a contract basis</a>. The latter are protected by the Contract Labour - Regulation and Abolition Act (CLRA) of 1970. Under this law, if the investigators find Wistron’s management guilty of non-payment of wages, they could end up in jail for up to three months, be fined up to ₹1,000, or both. Location, location, location Biswa adds that since this incident took place at a factory, the Factories Act (FA) of 1948 will also apply. This dictates that if any worker — including those working on contract — works on the premises for more than nine hours in a day, they’re entitled to overtime wages. These overtime wages have to be at least double the ordinary rate of wages. A preliminary report submitted by the Department of Factories Boilers and Industrial Safety dated 13 December, found that Wistron had increased overtime work hours for employees without informing the Labour Department. It added the difference in pay was not credited along with the salary for the month of November 2020. “The salary of the housekeeping contract workers are not paid till date, and are required to work for 12 hours a day for six days a week, and are being paid the same salary which they were being paid when they were working for 8 hours a day,” said the report. If the allegations hold true, the penalty for not paying or overtime would leave both the occupier and manager of the factory includes imprisonment of up to two years, a fine not exceeding ₹1 lakh or both. “If the contravention is continued after conviction, with a further fine which may extend to ₹1,000 for each day on which the contravention is so continued” explained Biswas. How much protection does the ‘glitch’ offer? According to the law, the company is accountable to be prosecuted. “The reason for non-payment of actual dues is immaterial as making the payment is of paramount significance under the laws,” said Dubey. However, if Wistron can prove that the offence was committed without the knowledge of its employees and Wistron could have done nothing about the software glitch, then Wistron may not be accountable under CLRA. “Similarly, under PWA, there may be no penalty if Wistron can satisfy the law only broken due to a bona fide error — like a software glitch — as to the amount payable to the employed person,” explained Biswas. And, finally, under FA, if the management at Wistron can prove to the satisfaction of the court that they followed due diligence to enforce the law and that the non-payment of wages occurred due to a specific person committing the offence on their own, then the liability of the Company can be significantly limited. SEE ALSO: <a href="https://www.businessinsider.in/science/news/fda-says-it-will-rapidly-work-toward-authorizing-modernas-covid-19-vaccine/articleshow/79789544.cms" data-type="tilCustomLink">FDA says it will 'rapidly work toward' authorizing Moderna's COVID-19 vaccine</a> <a href="https://www.businessinsider.in/tech/news/facebook-and-google-have-been-accused-of-striking-a-secret-illegal-advertising-deal/articleshow/79778780.cms" data-type="tilCustomLink">Facebook and Google have been accused of striking a secret, illegal advertising deal</a>

If investigators find Wistron management guilty, here's what is at stake for the company

New Delhi, Nov 28 () Umbrella body of mining dependents GMPF on Thursday made a plea to the government to work towards the amendment to MMDR Act or Goa Daman and Diu Mining Concession Abolition Act, 1987, which would lead to early resumption of mining in Goa that came to a standstill in March last year.
 "We... request the state government and central government to work towards the required amendment to Mines and Minerals (Development and Regulation) [MMDR] Act or Goa Daman and Diu Mining Concession Abolition Act, 1987," Goa Mining People's Front (GMPF) President Puti Gaonkar said.
 GMPF represent lakhs of people employed in the mining industry in the in the state of Goa.
 Mining came to a grinding halt in Goa last year after the Supreme Court quashed 88 leases and banned extraction of fresh iron ore.
 GMPF also urged the centre to convene the meeting of Group of Ministers (GoM) at the earliest.
 The GoM headed by Home Minister Amit Shah has been formed to examine the vexed issue of mining in Goa. The group includes union ministers for finance, environment, agriculture, mining, commerce and industries, petroleum and law.
 Mining is one of the two major sources of livelihood in Goa and the complete shutdown of mining industry has hit the the livelihoods of more than three lakh people in the state, GMPF said.
 The shutdown has caused an estimated loss of more than Rs 5,000 crore per year to the state of Goa, thereby adversely impacting the state's finances, it said.
 People who were deriving their livelihood from the mining sector are indebted with loans which is causing an alarming situation wherein people are defaulting on payments towards the said loans and as such are on the verge of losing their houses and possessions, it added. SID SID ANS
ANS

Goa mining body urges govt to amend MMDR Act

Chandigarh, Dec 2 () The Punjab Cabinet on Monday approved bringing in Punjab Right to Business Act 2019 with an aim to reduce the regulatory compliance burden for micro, small and medium enterprises (MSME).
 "The government has decided to bring in the Punjab Right to Business Act 2019 and Punjab Right to Business Rules 2019 to reduce the regulatory compliance burden by waiving the requirement of certain approvals and inspections for establishment and operations for MSMEs in the state while introducing the provision of self-declaration," the state government said in a release.
 Under the new Act, a state nodal agency under Director, Industries and Commerce will be set up to monitor and supervise the overall functioning of the district level nodal agency, to be headed by the Deputy Commissioners, the release said.
 The Deputy Commissioners have been designated as the Chief Executive Officers of the District Bureaus of Enterprise, to be set up across the state, it said, adding that they would act as district level nodal agencies which would operate under the overall superintendence of the state government and the state nodal agency.
 The district level nodal agencies would assist MSME enterprises in maintaining record of 'Declaration of Intent' received, and issue 'Certificate of In-principle Approval' to the new enterprises, being set up in approved industrial parks, it added. 
 For MSME units proposed outside approved industrial parks, the decision on issuance of 'Certificate of In-Principle Approval' would be taken by the district level nodal agency within a period of 15 working days, it said.
 Punjab currently has approximately 2 lakh MSME units.
 Besides, the Cabinet also approved various amendments to the Factories Act, 1948, Industrial Disputes Act 1947 and Contract Labour (Regulation &amp; Abolition) Act, 1970.
 The Cabinet has given its nod to certain amendments as well as insertion of new section 106 B in the Factories Act, 1948, through promulgation of an ordinance, the release said.
 The ordinance will increase the threshold limit of number of workers from 'ten' and 'twenty' to 'twenty' and 'forty', in factories with manufacturing processes being carried out with or without the aid of power, respectively.
 This will help promote establishment of small manufacturing units to create more employment opportunities for workers, it said.
 Further, the existing sub-section(1) of section 105 is proposed to be amended to the effect that cognizance of any offence shall be taken by the court on complaint made by an Inspector only after obtaining previous sanction in writing from the state government, it said.
 Under the existing provisions of the Act, there is no provision for compounding of offences, resulting in high number of prosecution cases.
 For speedy disposal of offences and to minimize litigation, a new provision is proposed to be inserted for compounding of offences, it added.
 The Cabinet also approved amendment to Section 25K (1) to increase the minimum number of workers for applying the provisions relating to layoffs, retrenchment and closure to 300 from 100, while ensuring a minimum notice period of three months, the release said.
 The Cabinet further approved amendments to the Contract Labour (Regulation &amp; Abolition) Act, 1970 which will help give fillip to employment generation in the state by enhancing the ambit of the Act from present threshold limit of 20 to 50 workers. CHS VSD RVK

Punjab to bring 'Right to Business Act' to reduce regulatory compliance for MSMEs

Amidst all the celebratory din on the clearing of the GST bill, the <keyword id="6377229" type="COMPANY" weightage="100" keywordseo="Child-labour">Child Labour</keyword> (Prohibition and Regulation) Amendment Bill, 2016 passed both the houses of Parliament without the attention it deserved. The Bill amends the Child Labour (Prohibition and Regulation) Act, 1986 which had banned the employment of children, that is those below 14 years of age, in 83 specified occupations/processes. The amendment prohibits engagement of children, which it now defines as 14 years or as specified by the Right to Education (RTE) Act, in all occupations except in family or family-based enterprise (after school hours or during vacations) and in the audio-visual entertainment industry or sports activity. It also created a new category of “adolescent”, which includes those between 14 to 18 years of age, and prohibits their employment in hazardous occupations, or hazardous processes. 
 
There have been widespread criticisms of the exceptions for family or family-based enterprises since it was cleared by the Cabinet in May last year. The government did away with the blanket ban on child labour, proposed when the bill was first introduced in 2012, to strike “a balance between the need for education for a child and reality of the socio-economic condition and social fabric in the country”. 
 First, if the reality of the socio-economic condition is forcing parents to keep their child working, this situation can’t be expected to improve anytime soon if status quo remains and children keep missing out on their education. And since, according to a study, parents are the reason for a child’s employment 62% of the time (Syed et al. 1991), the status quo would persist. There is much to be lost if India can’t capitalise on its demographic dividend being unable to tear itself away from the shackles of an uneducated population. The bill does restrict working hours to after-school timings, but where would the child have the time for any effective learning of things taught at school if he is at work later? Secondly, these exceptions have enough loopholes to nullify the amendment itself. They are not even restricted to the child’s immediate parents but extends to his/her “brother, sister and father’s sister and brother and mother’s sister and brother”. Any employer could claim to be a relative and it would be difficult to prove otherwise. Even the <keyword id="6355940" type="ORGANIZATION" weightage="100" keywordseo="Standing-committee">Standing Committee</keyword> recognised this issue and suggested removal of exceptions and prohibition of employment in all occupations. The recommendation was ignored. 
 
The exceptions also make the law weaker than the earlier one when the purpose of amendments are the exact opposite. Earlier, a child weaving carpets was a blatant violation of the law. Now, it must first be determined who he is working for; if it is for his family in after-school hours, he is legally entitled to carry on. The bill has effectively legalised employment of children in home-based units rolling bidis and making aggarbattis. This makes the bill highly regressive in nature and tougher to implement. It is an uncomfortable relaity that it has passed both houses of Parliament with hardly any public scrutiny. 
 
Some other issues with the Bill are its various inherent contradictions. The Juvenile Justice Act puts the age of a child at 16 years while the RTE Act, which this bill has tied itself with, fixes it at 14. There is a need for clarity on the definition of a child. Moreover, the Bill is in contradiction with the UN Convention on the Rights of the Child as it fails to define the number of hours a child can work. Another issue of contention was that of provisions for the employment of adolescents. The Standing Committee recommended that the meaning of hazardous occupations and processes be widened to include all occupations/processes that may jeopardise health, safety and morals of adolescents, in line with the ILO Convention 138. Again, the recommendation was ignored. 
 A group of organisations and activists have raised their voices against these amendments time and again with no avail. Back in March, Kailash Satyarthi wrote in a letter to <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> that a complete abolition of child labour would attract more global investment as reports of their products being made by children tarnish their image. For instance, Gap was caught in an embarrassing scandal in 2007 after an Observer investigation found its products being manufactured by children in Delhi, despite Gap’s rigorous audit systems. The company claimed that it contracts out work to various vendors in India and it becomes difficult to keep track on each one of them. Therefore, a better child labour law in India which is easy to implement would diminish such problems. In fact, it would act as a double-edged sword cutting down on child labour along with improving investment prospects. Perhaps the country should pay more heed to the child-rights activist and Nobel Peace Prize winner it takes so much pride in! 
 
About the author: The article is written by <keyword id="209438" type="PERSON" weightage="100" keywordseo="Amit-Kapoor">Amit Kapoor</keyword>, in collaboration with <keyword id="1914448" type="UNKNOWN" weightage="100" keywordseo="Chirag-Yadav">Chirag Yadav</keyword>, researcher with Institute for Competitiveness, India 
 
<a href="http://cdn.shareyouressays.com/wp-content/uploads/2015/08/child-labour-causes.jpg">Image source</a>

Failing our children

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Evan Vucci/APFederal Reserve Chairman Janet Yellen arrives on Capitol Hill in Washington, Tuesday, June 21, 2016, to testify before the Senate Banking Committee. Yellen said the U.S. economy faces a number of uncertainties that require the Fed to proceed cautiously in raising interest rates.</div></div></div>Federal Reserve Chair Janet Yellen is used to taking heat during her fairly frequent testimonies before Congress.But a lot has changed in Washington since Yellen's last visit to Capitol Hill. She is now working under a President Donald Trump who actively maligned her during the election campaign, <a href="http://www.businessinsider.com/trump-might-have-something-to-do-with-investors-losing-confidence-in-the-fed-2017-2">accusing her of acting politically</a> by keeping interest rates low to help President Barack Obama.Moreover, this is a president whose party controls both chambers of Congress and includes plenty of Republicans who are actively hostile to the Fed, many having notably called <a href="http://blogs.wsj.com/economics/2015/02/10/unfriend-the-fed-rand-pauls-attack-re-examined/">for the central bank's abolition.</a>Since that doesn't seem in the cards given that every civilized economy in the world has a monetary authority, Republicans have moved instead to curb the central bank's powers with legislation claiming it will "Audit the Fed." In reality, the Fed is already audited financially, and the bill is really just a backdoor way to give politicians more influence over monetary policy, something that longstanding experience with central bank independence suggests <a href="http://www.reuters.com/article/us-usa-fed-politics-idUSBRE88109Q20120902">can quickly become problematic.</a>As president, Trump will have <a href="http://www.businessinsider.com/president-trumps-impact-on-the-fed-2016-11">wide leeway to appoint new governors</a> and even a new chair, as Janet Yellen's term expires at the end of January 2018. All the more so after the <a href="http://www.businessinsider.com/daniel-tarullo-resigns-from-federal-reserve-2017-2">resignation last week of Daniel Tarullo</a>, the Fed's point man on regulation, following Trump's announcement that he intends to gut post-crisis financial legislation. Against that backdrop, lawmakers will likely to try to pin Janet Yellen down on two particular issues this week as she testifies before the Senate Banking Committee and the House Financial Services Committee. Neither encompasses what traders on Wall Street are most keen to hear - whether she's sticking to her <a href="http://www.businessinsider.com/the-problem-with-the-feds-2017-rate-hike-forecast-2017-2">forecast for three interest rate increases</a> this year.The first and most obvious matter is the post-crisis Dodd-Frank financial reform. The Republican push to roll back the 2010 law aimed at preventing another crisis puts the Fed and Yellen herself in an awkward position since, as one of the key agencies implementing and debating the legislation, top central bank officials have often championed it publicly. European officials <a href="http://www.businessinsider.com/trump-international-incident-financial-regulation-2017-2">have also complained</a> about Trump's proposed deregulation of Wall Street. One of the curious arguments the Trump camp appears to be making is that, because the new law failed to truly address the problem of banks deemed too big to fail, it might as well be scrapped altogether. This is not only illogical, it will certainly face vocal challenges from Democrats and public interest groups.The second issue Yellen will have to grapple with is the Audit the Fed legislation. Many of its proponents will be her questioners. They will accuse the Fed of hiding behind a veil of secrecy and not being transparent. This is a clever deception - the Fed certainly could do more to be clear and transparent, but not for lack of disclosure of its finances. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/never-wash-jeans-how-to-clean-2017-1">You should never wash your jeans - here's how to clean them</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="lzbjY2OTE6ANMRreqGgeELCIk_h-dNWI" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

There are 2 questions Yellen won't be able to dodge on Capitol Hill this week

<ul><li>New income tax slabs: 10% tax on income between ₹7.5 lakh without exemption compared to 20% right now.</li><li>15% tax on income between ₹7.5 lakh and ₹10 lakh without exemption compared to 20% right now.</li><li>20% tax on income between ₹10 lakh and ₹12.5 lakh without exemption compared to 30% right now.</li><li>25% tax on income between ₹12.5 lakh and ₹15 lakh without exemption compared to 30% right now.</li><li>Cost to the exchequer ₹40,000 crore; Removed 70 tax exemptions and deductions. These new rates are available to those who forego exemptions, deductions, and rebates.</li><li>Dividend distribution tax will be abolished, it will be taxable in the hands of the recipient. Cost to exchequer: ₹25,000 crore</li><li>SEE ALSO: <a href="https://www.businessinsider.in/budget/news/union-budget-2020-live-updates-news-and-highlights/liveblog/73824572.cms" data-type="tilCustomLink" target="_blank">Business Insider India live blog</a> on Budget 2020.</li></ul>Finance Nirmala Sitharaman presented her second annual budget speech. The top highlights from the budget 2020 proposals include the government's plan to sell stake in state-iowned insurance giant Life Insurance Corporation of India, sweeping changes in the income tax slabs, as well as the abolition of the dividend distribution tax at the end of the corporates. Aside from theses, startups with revenue up to ₹25 crore can avail 100% tax deduction in any three years over a period of 7 years, according to the latest Finance Bill presented by Sitharaman. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 <div type="image" title="Finance Minister Nirmala Sitharaman" msid="73828645" hostid="261" caption="&amp;lt;p&amp;gt;&amp;quot;As per tradition, Finance Minister Nirmala Sitharaman calls on President Kovind at Rashtrapati Bhavan before presenting the Union Budget,&amp;quot; the official handle of the President&amp;#39;s office tweeted today.&amp;lt;br&amp;gt;&amp;lt;/p&amp;gt;"></div>


































 Following are the key highlights of the budget speech: <ol><li>Only through higher growth, we can have our youth gainfully and meaningfully employed.</li><li>Fundamentals of the economy are strong, inflation has been contained, banks have been cleaning up the accumulated loans of the past decade. </li><li>An average household now saves about 4% of its monthly spends due to lower incidence of tax under the GST regime.</li><li>Welfare schemes with direct benefit transfer embedded in them, preventive healthcare via programmes like sanitation, healthcare via central schemes, housing scheme via Prime Minister Awas Yojana (PMAY) etc changed the established order of a few individuals cornering most of the benefits. </li><li>During 2014-19, Indian economy grew at an average of 7.4% with low inflation. India's foreign direct investment was $284 billion between 2014 an 2019 compared to $190 billion in the preceding five-year period.</li><li>India's government debt fell to 48.7% of GDP as of March 2019 compared to 52.3% as of March 2014.</li><li>Three themes of Budget 2020: 'Aspiring India', 'economic development', and 'to build a caring society'. </li><li>We shall aim for seamless delivery of services by leveraging technology. </li><li>6.11 crore farmers insured under Prime Minister Fasal Bima Yojana - a centrally-sponsored insurance scheme. Farm markets need to be liberalised.</li><li>16 action points: 1: Encourage state governments that will implement the following model laws that have already enacted by the centre. 2: Propose comprehensive measures for 100 water-stressed districts. 3: Expand outlay for solar pumps to 20 lakh farmers, another 15 lakh farmers to pumpsets to solar grid. Farmers if they have barren lands, they can set up solar power plants and sell it to the grid. 4: Balanced use of orgnaic and inorganic fertilisers. 5: Provide viability gap funding for setting up warehouses. Food Corporation of India can set up warehousing on their land too. 6: Push to reduce storage costs for farmers. 7: Promotion of women self-help groups. 8: To launch refrigerated trains to transport food items from the farm to other parts of the country. 9: Horticulture exceeds the production of foodgrains. 'One product for one district' to promote focussed development of horticulture. 10: Integrated farming system in rain-fed areas. Multiple crops, bee-keeping solar pumps in rain deficient area. 11: Financing on negotiable warehousing receipts will be linked to e-NAM. 12: The NABARD refinance scheme will expanded. The agriculture credit target for FY21 will be expanded to ₹15 lakh crore from ₹12 lakh crore. 13. To eliminate foot and mouth disease by 2025. To double milk production to 108 million metric tonnes by 2025. 14. Blue economy - development management of marine resources. Target ₹1 lakh crore in fish exports by 2025. 15. By FY23, propose raising fish production to 200 lakh tonnes, will also promote algae, seaweed.</li><li>16. Under Deendayal Antyodaya Yojana, self help groups will be expanded beyond the current 58 lakh.</li><li>Allocation for agriculture: ₹2.83 lakh crore, this includes ₹</li><li>Mission Indradhanush has been expanded to include 12 new diseases and 5 new vaccines. A very focussed water and sanitation programme to reduce the burden of diseases on the poor. There are 20,000 hospitals empanelled under the PMJAY, this has to rise. Propose to set up hospitals under the private-public partnership, the 112 districts identified as 'aspirational' will get priority in the setting up of new hospitals. </li><li>Proceeds from taxes on medical devices will be used to support the programme to build the infrastructure.</li><li>Reiterate India's commitment to eradicate tuberculosis by 2025. </li><li>Allocation for health: ₹69,000 crore including ₹6,400 crore for PMJAY.</li><li>By 2030, India is set to have the world's largest working-age population. They need education, skills, and employment opportunities. Our education system needs more money to attract better teachers and to set up better labs. Open the education sector to external commercial borrowing. </li><li>In order to provide quality education to the under privileged, a full-fledged online courses will be launched from the top 100 institutions in India.</li><li>Under 'Study In India' programme, a new INSAT exam to be launched for foreign students to enroll into Indian universities. </li><li>Every medical college will be linked to a nearby hospitals under the public-private partnership mode.</li><li>Total outlay for education sector: ₹99,300 crore and another ₹3,000 crore for skill development.</li><li>150 top education institutes to start offering apprenticeship programmes.</li><li>Propose to set up an investment clearance cell for end-to-end services including information on land bank and facilitating the approval process etc. </li><li>It is proposed to develop 5 new smart cities in collaboration with state governments in PPP mode. </li><li>Electronics manufacturing industry is cost competitive and India has shown its potential. To attract large investments in electronic manufacturing -- including electronic equipment, smartphones -- a new policy will be announced soon.</li><li>A National Textile Mission to work for next four fiscal years with an estimated outlay of ₹1,480 crore.</li><li>A new scheme Nirvik, for higher insurance cover, reduction in premium for small exporters, and simplified claim process, including digital refund process to help exporters.</li><li>Every district must become a hub for exports.</li><li>Unified procurement scheme: Propose ₹27,300 crore for development of industry and commerce in FY21.</li><li>National Infrastructure Pipeline will bring in generic and sectoral reforms in construction and maintenance of the infrastructure. Propose a project preparation facility that will employ economist, management graduates to execute projects.</li><li>A National Logistics Policy will soon be released to clarify the roles of Central government, state governments, and the regulators.</li><li>The Delhi-Mumbai Expressway and two other projects will be completed by FY23. The Chennai-Bengaluru expressway project will also started by then.</li><li>Government will monetise 12 NHAI highway projects.</li><li>Setting up a large solar power capacity alongside the rail tracks on the land owned by the railways, is a proposal under consideration.</li><li>150 trains under the PPP mode. More Tejas type trains will connect iconic tourist destinations. </li><li>Central government will give 20% of the funds needed for a suburaban rail transport system in Bengaluru.</li><li>100 more airports will be set up in the next five years.</li><li>₹1.7 lakh crore allocated for transport infrastructure.</li><li>Propose to replace traditional meters with digital meters in the next three years. This will allow consumers to port out of a service provider (selling power) just like they port out of mobile service provider.</li><li>Fibre to home connections through Bharat Net will connect 1 lakh villages this year itself. Propose to provide ₹6,000 crore for Bharat Net programme.</li><li>Quantum technology: An outlay of ₹8,000 crore over the next five years.</li><li>₹22,000 crore allocated for the power sector including renewble energy sector.</li><li>No manual cleaning of sewers will be allowed, new technology will be roped. Centre in conversation with civic bodies.</li><li>Provision of ₹85,000 crore for scheduled castes and other backward classes.</li><li>Provision of ₹53,700 crore for scheduled tribes in the country.</li><li>5 archaeological sites would be developed as iconic sites with on-site museum -- Rakhigarhi (Haryana), Hastinapur (UP), Dholavera (Gujarat), Shivsagar (Assam), and Aditya Nallur (Tamil Nadu).</li><li>Propose ₹35,500 crore for nutrition-related schemes.</li><li>Allocation for Ministry of Culture: ₹3,500 crore. </li><li>Propose ₹2,500 crore to promote tourism.</li><li>Propose ₹9,500 crore for senior citizens and specially abled.</li><li>Proposed total allocation for women-centric programmes ₹28,600 crore.</li><li>Propose ₹4,400 crore allocation for clean air. </li><li>Companies Act will be amended to abolish 'criminal liability' for 'civil offences'.</li><li>A National Recruitment Agency will be set up. It will conduct a common entrance test for non-gazetted positions in the government and public-sector enterprises. </li><li>Propose a new national policy on national statistics will push for use of AI to collect data real time.</li><li>India will host G20 Presidency in 2022; the government proposes to allocate ₹100 crore to start the preparations.</li><li>Governance reforms proposed for PSU banks: Robust mechanism is in place to monitor the health of all banks and the money of depositors are safe. Insurance of bank deposits raised to ₹5 lakh from ₹eposit insurance and credit guarantee scheme.</li><li>Government will sell its remaining stake in IDBI Bank to private investors. Stock jumps over 13%</li><li>MSME entrepreneurs can avail 'subordinate debt' from banks and the loan will be fully guaranteed by a Trust. This will be treated as quasi-equity stake.</li><li>Government has asked RBI to extend deadline for MSME debt restructuring by one more year. </li><li>FY20 fiscal deficit seen at 3.8% of GDP and at 3.5% in FY21.</li><li>Non-resident Indians will be allowed to invest in certain categories of government bonds.</li><li>Currently, foreign portfolio investors are allowed to buy a maximum of 9% of the outstanding corporate bonds. Finance Minister proposes to increase the threshold significantly to 15%.</li><li>An international bullion exchange will be set up in GIFT City in Gandhinagar, Gujarat.</li><li>Government to sell stake in LIC. </li><li>Receipts for FY21 estimated at ₹22.46 lakh crore, estimate expenditure: ₹</li><li>Borrowing plan for FY21: ₹5.36 lakh crore, capital expenditure will rise over 22%.</li><li>Dividend distribution tax will be abolished, it will be taxable in the hands of the recipient. Cost to exchequer: ₹25,000 crore</li><li>Dividend and capital gains made by foreign funds on investment in infrastructure space will tax free.</li><li>Startups with revenue up to ₹25 crore can avail 100% tax deduction in any three years over a period of 7 years.</li><li>Small retailers with revenue up to ₹5 crore need not get their books audited by accountants.</li><li>New scheme to end tax disputes: If someone agrees to pay the disputed tax amount by March 2020, there will be no interest and penalty. There are 4,83,000 tax disputes pending at various forums.</li><li>FY21 disinvestment target ₹2.1 lakh crore, doubled from the ₹1.05 lakh crore target in FY20.</li><li>Propose a cash incentive for customers demanding invoice, to boost compliance with GST</li><li>Imported footwear, furniture, and medical equipments will get more expensive as customs duty will be increased.</li></ol> SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/new-income-tax-slab-tax-savings-for-salaried-people/articleshow/73835816.cms">You'll save ₹78,000 more under new income tax slabs if you earn less than ₹15 lakh</a> <a href="https://www.businessinsider.in/budget/news/indian-government-infuses-22000-crore-in-power-and-renewable-proposes-freedom-to-choose-supplier/articleshow/73835587.cms">Indian government infuses ₹22000 crore in power and renewable, proposes freedom to choose supplier</a> <a href="https://www.businessinsider.in/budget/income-tax/news/check-out-new-income-tax-slab-of-2021/articleshow/73830824.cms">New income tax slabs 2020</a> <a href="https://www.businessinsider.in/budget/news/there-will-be-no-manual-cleaning-of-sewers-anymore-announces-nirmala-sitharaman/articleshow/73835265.cms">“There will be no manual cleaning of sewers anymore,” announces Nirmala Sitharaman</a> <a href="https://www.businessinsider.in/budget/news/union-budget-2020-live-updates-news-and-highlights/liveblog/73824572.cms">Union Budget 2020 Live Updates</a> <a href="https://www.businessinsider.in/budget/news/indian-taxpayers-expectation-from-the-budget-2020/articleshow/73804969.cms" data-type="tilCustomLink" target="_blank"></a><a href="https://www.businessinsider.in/defense/news/indias-budget-allocation-for-defence-has-remained-fairly-static-for-the-past-five-years/articleshow/73153930.cms" data-type="tilCustomLink" target="_blank"></a>

Income tax cuts, stake sale in LIC and other highlights from Finance Minister Nirmala Sitharaman's budget speech

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="http://pictures.reuters.com/archive/UZBEKISTAN-ELECTION--RC17170915C0.html">Anvar Ilyasov/Reuters</a>Shavkat Mirziyoyev</div></div></div>For more than three years, Saodat Mananova, a 63-year-old schoolteacher from ex-Soviet Uzbekistan, could not get her late husband's savings from a state-run bank.The sum was modest, $1,400, the will was in her name, but bank officials kept coming up with new documents she had to submit, or invented excuses to delay the payment, the frail, gray-haired woman said.The situation was typical for Uzbekistan, which ranked 153 on the list of 168 nations in the 2015 Corruption Perceptions Index by Transparency International, a Berlin-based graft monitor.Then a miracle happened. In late October, Mananova followed her niece's advice and sent an email to the nascent "online reception" of <a href="http://www.aljazeera.com/news/2016/12/mirziyoyev-scores-landslide-win-presidential-poll-161205131549888.html" target="_self">Shavkat Mirziyoyev</a>, Uzbekistan's prime minister since 2003 and acting president.Within days, bank officials delivered the money in cash, apologised profusely, and begged her to sign a document saying she was happy with their performance."They used to look at me like I was an insect," Mananova told Al Jazeera. "After the letter, they looked like somebody gave them a good beating." The "online reception" has received more than 200,000 complaints from average Uzbeks who wanted to solve their problems with corrupt officials, unjust judges, and abusive police officers, Mirziyoyev said on Wednesday. It opened shortly after the September 2 death of Uzbekistan's first president Islam Karimov, whose generation-long rule began before the 1991 Soviet collapse. The reception has become the most outspoken novelty introduced by Mirziyoyev in stagnant Uzbekistan - along with other changes such as an upcoming liberation of currency exchange or abolition of visas for tourists from 17 countries. It also became a perfect propaganda tool to boost Mirziyoyev's appeal ahead of the Sunday's presidential election."Of course I voted for him," Mananova said.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://www.apimages.com/metadata/Index/Uzbekistan-Elections/45da499fc71545668bf24d52f0d28032/7/0">AP Photo/Anvar Ilyasov</a>Uzbekistan's election</div></div></div>Mirziyoyev won 88.6 percent of the vote, becoming the second president of the most populous, authoritarian, and strategically located Muslim nation of ex-Soviet Central Asia. The vote was predictable as Mirziyoyev's campaign mimicked six election triumphs of Karimov that Western observers never called free or fair.One observer, the European Office for Democratic Institutions and Human Rights, said there were signs of vote-rigging, no "genuine competition" with three other presidential hopefuls, and a need "for comprehensive reforms" in Uzbekistan.Reforms are on many people's minds in the nation of 31 million dogged by unsolved problems."Shavkat Mirziyoyev loudly praises his predecessor, at the same time emphasising the necessity of changes," Daniil Kislov, a Moscow-based Central Asia expert whose <a href="http://www.aljazeera.com/news/2016/12/ferghananews.com">website is blocked in Uzbekistan</a>, told Al Jazeera.Uzbekistan is high on the list of the world's most repressive societies.At least one million university students and government employees are forced to pick cotton each authumn for weeks or even months, and farmers are coerced to grow the fibre and sell it to the government at low, fixed prices. The government has kept a Soviet-era monopoly on the cotton industry exports despite chronic droughts that <a href="http://www.aljazeera.com/indepth/features/2016/03/water-wars-imminent-central-asia-160321064118684.html" target="_self">threaten to turn Central Asia into a desert</a>. Dozens of political activists and thousands of peaceful Muslims have been jailed for their alleged anti-government sentiments and <a href="http://www.aljazeera.com/indepth/features/2015/01/torture-death-uzbek-muslims-jail-201516102547473124.html" target="_self">membership of "terrorist" groups</a>, rights groups say. Corruption, complicated laws and blatant expropriations have driven many foreign investors out, and local businessmen deal with unbearable bribes - or face jail.Millions of Uzbeks became labour migrants working menial jobs mostly in Russia and neighbouring Kazakhstan despite corruption, rights abuses and hate attacks. Uzbekistan nearly sealed borders with two of its impoverished neighbours, Tajikistan and Kyrgyzstan, and its relations with other ex-Soviet neighbours and Afghanistan are far from cordial.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Thomson ReutersRussian Prime Minister Medvedev meets his Uzbek counterpart Mirziyoyev in Samarkand</div></div></div>Memberships of Moscow-led economic and military blocs have been suspended or terminated, and trade with China is tightly regulated. Ties with the West have been severed after the <a href="http://www.aljazeera.com/indepth/features/2015/05/150511123115026.html" target="_self">2005 bloodbath in the eastern city of Andijan</a>, where government troops mowed down a crowd of mostly peaceful protesters, killing hundreds.After Western demands to conduct an independent investigation into the Andijan massacre, Karimov kicked out a US military base from the Afghan border, but kept a NATO outpost in exchange for a portion of used Western weapons withdrawn from Afghanistan.Independent media have been shut down or driven out of Uzbekistan, and an internet firewall keeps most Uzbeks away from independent news sources. State-run television networks and newspapers resemble Soviet-era propaganda with a sprinkle of medieval verbosity.Even Karimov's death was shrouded in rumours and controversy. He died on September 2, officials said, but independent sources claimed the death occurred days earlier. Defying the Uzbek constitution that puts a Senate speaker in charge in case of a president's death, Mirziyoyev assumed the title of interim president and headed a lavish funeral ceremony for Karimov in his ancient Silk Road home city of Samarkand - a Soviet-era indicator of who's going to be in charge. "There was a double violation of the constitution - by Mirziyoyev and the Senate that submitted to his will," Muhammad Solih, an opposition leader who challenged Karimov during the 1991 presidential vote and now lives in exile in Turkey, told Al Jazeera."Hence, the presidential election that got Mirziyoyev 'elected' is illegitimate." So is he qualified to change Karimov's policies and bring about the much-anticipated reforms?As his resume suggests - not really.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://www.apimages.com/metadata/Index/Uzbekistan-Elections/0bd431a2756e440aa6cb5706805a3e04/8/0">AP Photo/Anvar Ilyasov</a>Shavkat Mirziyoyev</div></div></div>"As prime minister, Mirziyoyev did not succeed, because corruption in all segments of economy and in law enforcement agencies has reached unprecedented levels. It resulted in a lack of conditions for development of nationwide mechanisms for human rights protection," Nadejda Atayeva, head of the Association for Human Rights in Central Asia, who fled Uzbekistan and lives in France, told Al Jazeera.Mirziyoyev also appears to have been one of the architects of the cotton industry with its forced labour and fixed, low prices for cotton growers. He served as prime minister since 2003 and governed two key cotton-growing regions before, an expert claims."He is the chief organiser of forced mobilisation of students and government employees for cotton harvesting," Umida Niyazova, head of the Uzbek German Forum for Human Rights, a non-profit organisation that monitors forced labour in Uzbekistan's cotton industry, told Al Jazeera. Uzbekistan is also not going to resume its membership in the Eurasian Economic Union, a Moscow-led economic bloc, deputy trade and economy minister Shavkat Tulyaganov said in early December.The bloc includes five ex-Soviet republics and is widely seen as the Kremlin's attempt to revive the Soviet Union. Uzbekistan's inclusion could significantly mitigate the bureaucratic hurdles Uzbek labour migrants face in Russia.Mirziyoyev, 59, an irrigation engineer by education, was a mid-level communist official before Uzbekistan's independence from the Soviet Union. He is part of the Samarkand clan Karimov belonged to, and his dogged loyalty to the late boss guaranteed his survival through the political purges of Karimov's iron-fisted rule.This background also suggests Mirziyoyev is hardly going to be a groundbreaking reformer. "Don't expect him to liberalise political life," Kislov said. "Mirziyoyev is Islam Karimov's flesh and blood, and he is interested in keeping, not destroying, the system of authoritarian rule." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/dermatologist-best-way-wash-your-face-2016-11">The 3 worst things you do when you wash your face - according to a dermatologist</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="pjNjFhMzE6jkiAo_sqqP9a2bfetBkmE0" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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