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Punjab govt to table bill in assembly to boost investment

The Punjab government will table a bill in a special assembly session beginning Monday to improve the state’s investment climate and generate employment. The state cabinet approved the conversion of the Factories (Punjab Amendment) Ordinance, 2020 into a Bill at a meeting chaired by Chief Minister Amarinder Singh, an official statement said.

The Bill is aimed at amending a relevant section and inserting a new section in the Factories Act, 1948. It provides for changing the existing threshold limit for small units.

The change has been necessitated by the increase in manufacturing activities by small units in the state and is aimed at promoting small manufacturing units. This would help create more employment opportunities for workers, it said.

In view of the absence of any provision in the existing law for compounding of offences for violations found at the time of the inspection of factories by the Inspector, the Bill will also incorporate a relevant section in the Act. This will facilitate faster settlement of cases and reduction in court action, the statement said.

On October 14, the state Cabinet decided to convene a special session of the state assembly here to bring in a legislation to counter the Centre’s new farm laws. The two-day session will begin on Monday.

Source: Economic Times| BBC News & Gossip

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