Industrial Development Current Affairs - 2020

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Cabinet approves to set up a 12-member Technology Group

On February 19, 2020, the Union Cabinet approved to set a technology group. The 12-member group will provide scientific advice on mapping of technologies, commercialization of dual use technologies and develop a road map on selected key technologies.

The group will provide three major pillars of support namely Policy support, research and development proposals and procurement support.

Functions of the group

The group will help the GoI in achieving the following

  • To render advice on technology procurement strategy
  • To develop in-house expertise in developing merging technologies
  • To make sure the public sector technologies developed are sustainable.

Why was the group constituted?

The Group has been constituted as the GoI faced the following challenges

  • There was no mapping of technologies and their uses spread across the country
  • The Researches were not aligned to technology development
  • The dual use of technologies was not commercialized
  • The standards of technologies were not fixed. This led to sub-optimal industrial development
  • Silo-centric approaches to the development of technologies are being adopted

The Group will help in addressing these issues.

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Cabinet approves Industrial Relations Code, 2019

On November 21, 2019, the Union Cabinet approved the introduction of Industrial Relations Code, 2019. This is the third code under labor reforms. Under the new code, forty-four laws are to be amalgamated into four codes. The four codes include wage rates, social security, industrial relations and industrial security and labor welfare.

Features of the code

The code intends to simplify and rationalize the Trade Union Act, 1926, Industrial Disputes Act, 1947, Industrial Employment Act, 1946. The code also features to set up a two-member tribunal to fasten the disposal of cases.

The code allows the companies to hire fixed-term contract workers. It defines fixed-term employment as a worker who can be hired for a duration of 3 months or 6 months or a year based on the season and orders.

Significance

With the amalgamation of the laws, the process of registration and filing of returns will get streamlined. The process will help in improving ease of business and hence employments will increase. With the amalgamation of labor laws, the GoI intends to bring maximum governance with minimum laws.

The Economic Survey, 2018 highlighted that the labor reforms in Rajasthan increased growth rates of firms. The change was highly evident in firms that were employing more than 100 workers.

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