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Govt in process of bringing out strategy paper on boosting industrial growth: Goyal
Sep-17-2020

Commerce and Industry Minister Piyush Goyal has said that the government is in the process of bringing out a strategy paper on boosting industrial growth which will be a road map for all businesses in the country. He said the government is in the process of rationalising the existing central labour laws into four labour codes -- on wages; industrial relations; occupational safety, health and working conditions; and social security by simplifying, amalgamating and rationalising the relevant provisions of the existing central labour laws.

Goyal said the Code on Wages has been approved and notified. He also said an Expenditure Finance Committee (EFC) note on startup India seed fund scheme, with a total proposed corpus of Rs 945 crore, has been formulated by the Department for Promotion of Industry and Internal Trade (DPIIT). He added that the EFC note was circulated for inter-ministerial consultations to the concerned departments/ ministries and the note has been finalised.

The minister further stated that since the roll out of Startup India initiative on January 16, 2016, a total of 36,106 startups have been recognised by DPIIT in 586 districts, as on September 6. He also noted that a total number of 4,22,986 employment has been reported by 34,267 DPIIT recognised startups as on September 6.

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