New Delhi, Oct 25: The Union Cabinet today gave its approval for making necessary amendments to the Labour Laws (Exemption from Furnishing Returns and maintaining Registers by Certain Establishments) Amendment and Miscellaneous provisions Bill, 2005 which is pending in the Rajya Sabha.
The newly amended Bill would be called, Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by (Certain Establishments) (Amendment) Bill, 2007.
The simplified forms to be introduced by these amendments will give relief to employers of establishments employing up to 40 workers in maintaining registers and submitting returns under various labour laws.
The Cabinet also gave its approval for making necessary amendments in the Tyre Corporation of India Limited (Disinvestment of ownership) Bill, 2007, presently pending in the Lok Sabha.
The TCIL is a nationalized Public Sector Enterprise PSE and as per the advice of Ministry of Law and Justice, prior approval of Parliament is required for changing the nature of PSE from a government company to a non-government company, a government release stated.
“The Company can be revived on a sustainable manner only through joint venture for which change in nature of the PSE will be required," the release added.
The Cabinet today gave its approval to the promulgation of Daman and Diu Value added Tax (Amendment) Regulation, 2007; and the Dadra and Nagar Haveli Value Added Tax (Amendment) Regulation, 2007.
The Cabinet also gave its approval to the following decision :
i) to reiterate the earlier decision of June 30, 2005 of the Government that Purchase Preference Policy for Products and services of CPSEs will be terminated with effect from March 31, 2008.
ii) the preferential purchase policies framed for the specific sectors by the concerned Ministries / Departments within the relevant Act of Parliament or otherwise do not come within the purview of the decision at (I) above. The concerned Ministries / departments may independently evolve / review preferential policies for the sectors of their concern, as per their requirement; and
iii) to communicate the above decisions to the Supreme Court of India.
This decision will result in a level playing field between CPSEs and private sector players and increase competition.