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Karnataka becomes the First State to Amend its Industries (Facilitation) Act for Small, Medium and Large-scale Industries

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Bangalore, Karnataka, India: The Karnataka government today amended the long-pending industrial reform “The Karnataka Industries (Facilitation) Act, 2002” to facilitate and attract investment in the state. The decision was taken by the state Cabinet meeting held today and chaired by Hon’ble Chief Minister of Karnataka BS Yediyurappa.

Karnataka amends Industries (Facilitation) Act to boost investment across sectors. Facilitation Act to be a huge game-changer and aid Ease of Doing Business in Karnataka. Under the amended Act, medium and small industries to commence manufacturing without having to wait for any statutory clearances for the first three years.

Currently, only Gujarat and Rajasthan are the two states in the country that have amended this Act for small scale industries only. In our state the amended act includes small, medium and large scale industries.

Under the amended Act, an industry would not need any statutory permissions for the first three years, or whichever is earlier to set up operations in the state. These permissions include approvals from under multiple state laws, including trade licence and building-plan approval, measures that would save lot of time and cost for industries.

The objective of the amended Act is to simplify regulations and reduce procedural requirements and create a conducive investment environment.

Economies worldwide are seeing a slow transition and will require a longer period to restore the pre-COVID normalcy levels. In midst of these sobering business environment, the Karnataka State Cabinet cleared the (Facilitation) Act, 2002. This Act has been a long pending demand by the investors and will usher in investments to the state in coming days.

During a media briefing held today at Bengaluru, Jagdish Shettar, Minister for Large & Media Scale Industries said, “This decision was taken today in the cabinet under the leadership of Chief Minister BS Yediyurappa and I thank all my cabinet colleagues for this progressive move. This is an historic decision taken for the benefit of the industrial sector. This decision has been undertaken as the government wants to promote Ease of Doing Business and facilitate investors to invest in the state.”

In the past, numerous procedures and clearances have resulted in delay of setting up industries and escalated the project cost for the investors, thus resulting in a huge economic toll and delayed investment to the state. Keeping that in mind, the newly amended Act shall ensure the investors are insulated by the delays.

In order to kick-start the economic activity post-COVID-19, the Karnataka government in the last few weeks has stressed on Ease of Doing Business, with a single-window for investors, simplified processes, regular consultation with Industry, stable policy-driven. The state has also simplified land and labor laws to promote Karnataka as an investment destination.

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Business

How to open an account in Swiss Bank from India

As soon as the news of increase the in money in Swiss Bank increased, numbers of queries related to Swiss Bank got increased. So, we thought to help you to with the most searched question on the internet “How to open an account in Swiss Bank from India”.

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How to open an account in Swiss Bank from India 1

Swiss Bank, like me many of you was introduced this name in 2014 when Mr. Narendra Modi who was the chief minister of Gujarat that time made his election campaign on Black money in Swiss Bank. Now, in 2021 no money was back to India as promised by Narendra Modi. On other hand there is huge hike in Indian Money deposited into Swiss Bank. According to the media reports the total amount has reached more than 20,700 Cr and also the Swiss bank account holders in India gets increased post 2014.

Now, if you see google then many people are searching to open a Swiss Bank account online. It’s not that everyone wants to open an account in Swiss Bank, however many of them like me are just curious to know the process to open an account in Swiss Bank.

Also Read: China launches crewed spacecraft Shenzhou-12 in the historic mission

How to open an account in Swiss Bank from India
Image Credit – Pexels

How to open a Swiss bank account

  • Just like Indian Banks, Banks in Switzerland also minimum balance criteria. You have to find a Bank that will accept the amount of fund you have. The minimum balance is between 100.000 CHF up to 500.000 CHF and it vary from Bank to Bank.
  • Once you identify the Bank, or you can also take a professional help from third party websites. They charge you a professional fee to help you to open a Bank Account.
  • These are the four steps to open an account
  • Fill out the application form at our order page
  • After reception of your order the bank will mail you a welcome packet
  • Sign the documents and send them back to the bank
  • The bank will confirm the opening of your new Swiss bank account
  • If you will not be able to travel Switzerland, then you can also complete the process through post (Courier)
  • You also have to show the origin of fund like bank statement, documents from the sale of property or any other document that shows the transaction amount

Thinks you should know before opening a Swiss bank account

  • Any individual over the age of 18 is allowed to open a Swiss Bank account
  • An Indian can open an account but with a ceiling for the financial year. However, for the purpose of conducting business such an account is permitted under the Foreign Exchange Management Act (FEMA).
  • There are nearly 400 banks in Switzerland with the top two – UBS and Credit Suisse Group
  • There is an account type called ‘numbered account’. All interaction with the account is through the account number. Very few people in the bank will know the name behind the numbered account.
  • You can close your account any time without any restrictions or cost
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NATIONAL

Sports world pays tribute to Milkha Singh

Veteran Indian athlete Milkha Singh passed away at a local hospital here at 11.30 pm on Friday, leaving the sports world in a tizzy. After the death of this great sprinter, many celebrities have paid tribute to him. There are some kind.

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Sports world pays tribute to Milkha Singh

Veteran Indian athlete Milkha Singh passed away at a local hospital here at 11.30 pm on Friday, leaving the sports world in a tizzy. After the death of this great sprinter, many celebrities have paid tribute to him.

I promise you Milkha Singh ji that we will fulfill your last wish. India has lost its star. Milkha Singh ji has left us but he will continue to inspire every Indian to shine for India. My deepest condolences to the family. I pray for the peace of his soul. Kiren Rijiju

Rest in peace our very own ‘Flying Sikh’ Milkha Singh Ji. Your passing has left a deep void in the heart of every Indian today, but you will continue to inspire many generations to come. Sachin Tendulkar

SAI is deeply saddened by the passing away of “The Flying Sikh” Milkha Singh, one of the greatest sportspersons India has ever produced. Gold medalist at Commonwealth Games and Asian Games, she held the 400m national record for 38 years. Condolences to his family and the millions he inspired. Sports Authority of India

Your story inspired millions and will continue to inspire….Rip Legend. Ritu Phogat

We might not have seen you competing, but every time we ran fast as kids, we ran like Milkha Singh. And to me, she will always be the legend you left behind. You didn’t just run, you inspired. Rest in peace, sir. Sunil Chhetri

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Delhi government will prepare 5,000 health assistants in view of the third wave of corona

Delhi Chief Minister Arvind Kejriwal said, “In the first and second wave of corona we have seen shortage of medical and paramedical staff.

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Arvind Kejriwal speaking with media in his office in Delhi

In an important announcement today, the Delhi government said that it will prepare 5,000 health assistants as a precaution in the wake of the third wave of corona. Under this ambitious project of Delhi Government, Indraprastha University will start training the youth gradually.

Talking about this project, Delhi Chief Minister Arvind Kejriwal said, “In the first and second wave of corona we have seen a shortage of medical and paramedical staff. So the government has an ambitious plan, under which 5000 health assistants will be prepared.”

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Describing the outline of the project, Arvind Kejriwal said, “Indraprastha (IP) University will train 5000 youth sequentially for every 2 weeks. After that they will be given basic training in 9 premier medical institutes of Delhi.

Clearing doubts about the usefulness of health assistants prepared after just two weeks of training and training, Kejriwal said that these health assistants will work as assistants to doctor-nurse. They will be given basic training in nursing, paramedics, life saving, first aid and home care. Online applications for this can be filled from tomorrow, Thursday, June 17. The training will start from June 28. For this the qualification is 12th pass and age limit is more than 18 years.

This plan of Delhi Chief Minister Arvind Kejriwal is prima facie looking very futuristic, but the reality will be known only after its implementation. It is to be known that with this announcement of Kejriwal, his critics have started to satire on this plan.

Disclaimer: This post has been auto-published from an agency news helpline feed without any modifications to the text and has not been reviewed by an editor

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