Corporate Law Reporter - The Daily Journal

Textiles Sector Receives Much Needed Support in Budget 2013-14

Textiles Sector Receives Much Needed Support in Budget 2013-14 Affordable Credit, Technology Upgradation, Duty Relief and Skill Development Targeted The Textiles sector is the second largest provider of employment after agriculture. It contributes about 14% to industrial production, 4% to the GDP, and 17% to the country™s export earnings. It provides direct employment to over… Read More

Ministry of Water Resources has formulated a Model Bill on Groundwater Exploitation

Ministry of Water Resources has formulated a Model Bill to regulate and control groundwater development and management in the Country. The Model Bill has been circulated by the Ministry to all the States/ Union Territories for enactment. So far 14 States/ UTs namely, Andhra Pradesh, Assam, Bihar, Goa, Himachal Pradesh, Jammu & Kashmir, Karnataka, Kerala, Tamil… Read More

Planning Commission proposing a National Supercomputing Roadmap

Proposal for Supercomputing : The need to rejuvenate the supercomputing leadership was felt and recommended by the Scientific Advisory Council to the Prime Minister (SAC to PM) and also by the Planning Commission. The Planning Commission has drawn a National Supercomputing Roadmap in the 12th Plan document (2012-2017). This roadmap covers several aspects of supercomputing namely… Read More

Patent Rights Bill being drafted for Public funded Intellectual Property

Under the existing Government instructions to research institutions and universities on patent rights over inventions arising out of the Government funded research are assigned to the grantee institutions and they are permitted to retain the benefits and earnings arising out of the patent rights. This also ensures that scientists & research teams are named as… Read More

Rise in The Limit of Annual Income for Getting Benefit Under Housing Schemes

The income ceiling for the Economically Weaker Section (EWS) households has been enhanced from up to Rs. 5,000/- per month to up to Rs. 1,00,000/- per annum and that of Lower Income Group has been increased from Rs. 5,001 /- 10,000/- per month to Rs. 1,00,001/- Rs. 2,00,000/- per annum. It is not possible to… Read More

Expenditure Finance Committee extends coverage of Rajiv AwasYojana

New Cities Under Rajiv Awas Yojana : The Expenditure Finance Committee (EFC) note for phase II of Rajiv AwasYojana is under inter-ministerial consultation wherein it is proposed to extend the coverage of Rajiv Awas Yojana to all towns and cities as against 250 class I towns stipulated earlier. Cities having population more than 5 lakhs, would… Read More

Changes proposed in Model Rent Control Act

Land™ and ˜Ã‡olonisation™ are State subjects and the issue of Rent Control falls within the relm of State functions. Rent control reforms were a part of optional reforms under JNNURM. The Ministry of Housing & Urban Poverty Alleviation has circulated a draft Model Rent Control Act for ascertaining the views and comments of States and… Read More

Ministry of Water Resources constitutes a Drafting Committee for Water Framework Law

National Water Framework Ministry of Water Resources has constituted a Drafting Committee under the Chairmanship of Dr. Y.K. Alagh to draft Water Framework Law as an umbrella statement of general principles governing the exercise of legislative and /or executive (or devolved) powers by the Centre, the States and the local governing bodies. The tenure of… Read More

MoU between Defence Ministry and DOT for Vacation of Spectrum

As per Memorandum of Understanding (MOU) signed between Ministry of Defence and Department of Telecommunication (DOT) on 22nd May 2009, Ministry of Defence has released (10+10) MHz spectrum for 2G and 20 MHz for 3G. The auction of 3G spectrum has already been completed in 2010. Auction of 2G spectrum was held in November 2012… Read More

Planning Commission Hosting Google Hangout on the 12th Five Year Plan on 15th March 2013 at 5 PM

The Planning Commission, along with the National Innovation Council, is hosting its first Google Hangout on the 12th Five Year Plan on 15th March 2013 at 5 PM. The hour long session on Google Hangout will be attended by Dr. Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, Sh. Sam Pitroda, Chairman, National Innovation Council, Members… Read More

GoI statement on National Child Labour Project Scheme

Implementation of NCLP Government of India is committed to address the issue of elimination of child labour in all its forms beginning with children working in hazardous occupations & processes. For rehabilitation of child labour the Government is implementing the National Child Labour Project (NCLP) Scheme since 1988. The major objective of the Scheme is… Read More

A draft amendment bill underway for making National Floor Level Minimum Wage statutory under Minimum Wages Act

Minimum Wages to Unorganised Workers Minimum Wages Act, 1948 (MW Act), interalia, applies to unorganized sector labourers including unskilled workers and agricultural labourers. The Government recently approved proposals for amendments to the MW Act, which, interalia, include making National Floor Level Minimum Wage (NFLMW) statutory. A draft bill to give effect to the proposed amendments… Read More

IT Department Urges Taxpayers to Pay all Self- Assessment Tax Dues by 31ST March

The Income-tax Act requires that the tax payable on the returned income after taking into account prepaid taxes, should be paid before furnishing the return. An analysis of returns filed electronically in the current Financial Year (2012-13) reveals that nearly 73,388 taxpayers have defaulted on such payments aggregating to Rs. 3,859 crore. Income-tax Department urges… Read More