- The Union Cabinet 24th June permitted the declaration of the airport in Uttar Pradesh’s Kushinagar as an international airport, stating it will offer increased connectivity to the important Buddhist pilgrimage site.
Parliament passed the Vivad Se Vishwas Bill for settlement of Direct Tax disputes on 13 March 2020. The Bill was presented in Lok Sabha (the lower house) by the Minister of Finance Nirmala Sitharaman on 5 February 2020. Lok Sabha passed it on 4 March 2020. It will provide a chance to settle direct tax disputes within the current financial year by waiving interest and penalty on their pending taxes.
Ministry of MSME is starting a ‘Scheme of Fund for Regeneration of Traditional Industries’ (SFURTI) Scheme for setting up of traditional industries clusters viz. Khadi, Coir & Village industries clusters.
The Union Cabinet has approved the Alliance Air, a 100 per cent subsidiary of Air India, to fly on international sectors between India and Sri Lanka.
Union Cabinet has given approval for bringing Cooperative banks under the regulatory mechanism of Reserve Bank of India.
Union Cabinet approves to set up a new major port at Vadhavan in Maharashtra. The total cost of the project is likely to be almost 65 thousand crore rupees. Vadhavan port will be developed on land lord model.
The Union Cabinet allotted its approval to confer the status of Institution of National Importance to Indian Institutes of Information Technology, IIITs of Surat, Bhopal, Bhagalpur, Agartala and Raichur.