Home » Business » Odisha Cabinet has approved amendments to the state’s industrial policy and labour laws

Odisha Cabinet has approved amendments to the state’s industrial policy and labour laws

Bhubaneswar: 14/8/20:Amid sluggish economic activities due to the prevailing COVID-19 crisis, Odisha Cabinet has approved amendments to the state’s industrial policy and labour laws to revive various sectors, an official said on Thursday.

The process of granting trade licenses will also be eased to reduce the burden on the business units, he said.

The Cabinet has also given its nod to enable industries to engage women workers in the night shift and increase the maximum limit of overtime working hours to 115 in a quarter, he said.

The amendments to the Industrial Policy Resolution (IPR) of 2007 and 2015 to provide value-added tax (VAT) reimbursement to industries will benefit around 300 businesses in the state, Chief Secretary A K Tripathy said.

He said the amendments have been made to provide tax benefits to the industries, he said

“The fiscal benefits will be made available to all eligible units with effect from the introduction of the GST on July 1, 2017,” Tripathy said.

Apart from this, the government has revised the definition of priority and negative lists and downstream industries in the IPR-2015 to remove ambiguity in determining the eligibility of business units for various incentives, he said.

These amendments will encourage MSMEs and large industries to go for expansion, modernisation and diversification of existing units and also enable them to set up new units, he said.

The government will start issuing provisional trade licence with a validity up to five years on the day of application, he said, adding that the establishments and contractors employing less than 50 contract labourers will not be required to obtain any registration certificate.

The Cabinet, in its meeting on Wednesday, had also approved a proposal to pay court fees through electronics mode and online filing of cases by industries, the official said.

Tripathy said these amendments aim at facilitating investment and generating additional employment.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

Leave a Reply

Your email address will not be published.


Check Also

Justice Indrajit Mahanty Sworn In As Chief Justice Of Tripura High Court

Cuttack13\10\21: Justice Indrajit Mahanty was sworn in as the sixth Chief Justice of Tripura High Court at the Raj Bhavan in Agartala on Tuesday. Tripura Governor Satyadeo Narain Arya administered ...