Labour, Land Law and Tax Reforms : Updates

Nikhil said:
2014 i voted for him , 2019 i did not cause i knew which way things were going and this guy and govt did not disappoint, not one bit. I hope stupid unemployed as well employed youth of this country has some braincells left in there heads. I can see and hear voices of dissent even from the usual bhakt crowd who have started to feel some heat. there is a massive danger here of country slipping into complete anarchy down the line. Message is clear, you are with us or to the gulag.
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Again out of sheer morbid interest, whom did you vote for in 2019 & going ahead whom would you vote for in 2024 & why?
 
_Anonymous_ said:
Again out of sheer morbid interest, whom did you vote for in 2019 & going ahead whom would you vote for in 2024 & why?
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I voted NOTA in 2019, future ka kisnay dekha hai. Pata nahi zinda rahengay bhi ya nahi tab tak. Family has personal links in BJP specially my father as he was in RSS. mera sir kisi or disha chalta hai , family se hat kar.
father, mother, brother still vote BJP no matter what. चाए आंधी हो या तूफान। देखते हैं क्या होता है।
 
Nikhil said:
I voted NOTA in 2019, future ka kisnay dekha hai. Pata nahi zinda rahengay bhi ya nahi tab tak. Family has personal links in BJP specially my father as he was in RSS. mera sir kisi or disha chalta hai , family se hat kar.
father, mother, brother still vote BJP no matter what. चाए आंधी हो या तूफान। देखते हैं क्या होता है।
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Anarchism - Wikipedia

en.wikipedia.org en.wikipedia.org
 

Labour Bureau launches two of the five all-India surveys​

New Delhi: The Labour Bureau has recently been tasked with five major All India Surveys by the Government of India. The five surveys are the All-India Survey of Migrant Workers, All-India Survey on Domestic Workers, All-India Survey on Employment generated in Transport Sector, All-India Survey of Employment Generated by Professionals and All-India Quarterly Establishment based Employment Survey (AQEES). These surveys have been developed and designed by Labour Bureau under the technical guidance of an expert group chaired by Prof S. P. Mukherjee and co-chaired by Dr Amitabh Kundu. As on date there have been 60 expert group meetings that have worked on developing these scientific and robust survey instruments.


The five surveys have been worked upon simultaneously and will be launched in a phased manner keeping in mind the constraints arising from pandemic. The first surveys to be launched are the All-India Survey of Migrant Workers and All-India Quarterly Establishment based Employment Survey (AQEES). These surveys will be path breaking in their “Paperless” data collection approach due to use of tablet PCs in the field work, these tablets are equipped with latest software application. Use of latest technology is likely to reduce the survey completion time by at least 30 – 40%. The Labour Bureau is being aided by BECIL, a Government of India Enterprise under the Ministry of Information and Broadcasting to provide the IT support. In another first these surveys will be conducted in major regional languages.
indiaeducationdiary.in

Labour Bureau launches two of the five all-India surveys

New Delhi: The Labour Bureau has recently been tasked with five major All India Surveys by the Government of India. The five surveys are the All-India Survey of Migrant Workers, All-India Survey on Domestic Workers, All-India Survey on Employment gen
indiaeducationdiary.in indiaeducationdiary.in
 
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Ministry of Commerce & Industry​

GIS Enabled Land Bank gaining popularity;

Website has seen a 30% increase in page views each month since April 2021​

Posted On: 09 JUL 2021 2:18PM by PIB Delhi​

The India Industrial Land Bank (IILB) is a GIS-based portal - a one-stop repository of all industrial infrastructure-related information – connectivity, infra, natural resources & terrain, plot-level information on vacant plots, line of activity, and contact details. Currently, the IILB has approximately 4000 industrial parks mapped across an area of 5.5 lakh hectare of land, serving as a decision support system for investors scouting for land remotely. The system has been integrated with industry-based GIS systems of 17 states to have details on the portal updated on a real-time basis and will achieve pan-India integration by December 2021

A mobile application (wherein login is not required) was launched on Android and iOS stores. Additional features are to be introduced soon. In parallel, the portal has been made more user friendly by allowing users to explore the portal without any login. The design and UI of the portal are being constantly improved for a better user experience

Information on Land bank is also accessible via Homepage of the Department for Promotion of Industry and Internal Trade. Once we click on Industrial Information System, the page is redirected to India Industrial Land Bank for detailed accessibility to the investors. Additionally, the information on land bank may also be accessed via Invest India website, under resources tab as India Industrial Land Bank

The website has seen a 30% increase in page views each month since April 2021 and received 55000 page views in June compared to 44136 page views in May 2021 and 30153 page views in April 2021. In previous quarter (Apr – Jun 2021), total users were 13,610 out of which 12,996 were unique users with total page views of approximately 1.3 lakh

Regarding country wise visitors, after India, United States have the maximum number of visitors followed by Australia, United Kingdom, Singapore, UAE, Germany, and Indonesia. Demonstration of the IILB portal and mobile application was given at various outreach events to Industry Associations, Singapore Indian High Commission, Indian Embassy of Korea, KOTRA and Malaysian & Korean Investors.

GIS Enabled Land Bank gaining popularity;
 
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Retrospective tax: Global investors cheer as India scraps policy​

India has introduced a bill in its lower house to scrap a controversial 2012 law that retrospectively levied capital gains tax on companies for the indirect transfer of their Indian assets.
The law, which will now apply only prospectively, has been a major sore point with foreign investors for the better part of the last decade, damaging India's reputation as a stable tax jurisdiction and leading to protracted litigation.

"It is perhaps the boldest move taken in the history of Indian tax laws," said Bijal Ajinkya, Partner at the law firm Khaitan & Co.

The far-reaching, but long delayed decision now paves the way for the government to settle billions of dollars in international disputes.
At least 17 companies, including British oil and gas major Cairn Energy, and the telecom giant Vodafone, will benefit from the ruling.

"Prime Minister Modi inherited this bad legislation, and today we are delighted to see he has finally decided to nullify it," said Mukesh Aghi, CEO and President of The US-India Strategic Partnership Forum.

He called the law a "black mark" on India's reputation as a predictable investment destination.

Tax demands on companies will be nullified under the condition that they withdraw litigation against the government and undertake not to claim interest or damages.

The bill also proposes to refund any principal tax amount they might have paid.

The changes come in even as the Modi government is engaged in a legal tussle with Cairn Energy and Vodafone in international arbitration tribunals.

In the case of Vodafone, the tribunal in The Hague ruled against the government's $2bn (£1.44bn) tax claim.

Cairn on the other hand was awarded damages worth $1.2bn plus costs and interest.

The company has been identifying Indian state assets it can seize including planes of Air India and real estate in Paris, to try and get India to honour the tribunal's ruling after the government filed appeals in both cases.
A general view of the Cairn India, Oil and Gas exploration plant at Barmer in Rajasthan.
image sourceGetty Images
image captionCairn Energy is in dispute with the Indian government over a 2014 retrospective tax bill

Cairn Energy has told the London Stock Exchange it was "monitoring the situation", on the new amendments, but both Vodafone and Cairn declined to comment further on the matter.

Some analysts are of the view that even though Cairn may suffer some losses and forgo interest owed, it may settle out of court now.
"If they don't, this could go on, and they may not get to see the colour of their money for many years," Dinesh Kanabar, a leading tax expert told the BBC.

"In the case of Vodafone, there is nothing further to be done, except for the government to withdraw the appeal it has filed against the tribunal ruling in Singapore."

Legal experts say the government, with this decision has now essentially put the ball into the other court.

"Now it depends on companies to come forward," India's Revenue Secretary Tarun Bajaj told Reuters news agency.

But not all legal tussles will disappear overnight.

The government decision to not pay the interest component with the money it refunds to companies, might "push some affected entities to consider continuing with ongoing litigation," said Ms Ajinkya. Many of these cases are long pending, and the tax amounts are sizeable.

But overall, analysts expect the decision to bring back the lost confidence of foreign investors.

"The country today stands at a juncture when quick recovery of the economy after the Covid-19 pandemic is the need of the hour and foreign investment has an important role to play in promoting faster economic growth and employment," the finance ministry said, in the statement accompanying the bill.
www.bbc.com

Retrospective tax: Global investors cheer as India scraps policy

Several companies, including telecom giant Vodafone will benefit from the ruling.
www.bbc.com www.bbc.com
 
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