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Legist Newsletter

Issue: May, 2022

For Private Circulation Only

May 2022-05

 

This May, in the relevance of the International Labour Day, we present to you the analysis of the development of International and Indian labor law on labor rights.  

International Labor Day celebrates laborers and encourages them to be aware of their right, labor unions and socialists come together to celebrate this day by conducting programs to improve working conditions and wages of the labor force.

In our first article, we discuss a detailed analysis of the development of International labour laws on labour rights. The article further discusses the International Labour Organization Constitution, as well as its several Conventions and Recommendations. The second article talks about the development of Indian laws on labour rights. It further analyses the historical development and the future of labour laws.

May 2022-04

 THE DEVELOPMENT OF INTERNATIONAL LAW ON LABOUR RIGHTS

May 2022-01

Legist Newsletter

Issue: April, 2022

For Private Circulation Only

March 22-05


Welcome readers, to this year’s fourth issue of Legist.

This April, in light of World Intellectual Property Day on 26th April, 2022, we would like to bring to you a novel analysis of the cybercrimes prevalent in IP Law and the newest way of dealing with it; Blockchain Technology. In our first article, we have brought to you a detailed analysis of the application of blockchain in the field of IPR and the ways in which it can be utilized to make IP registration, tracking and evidence more straightforward and efficient and consequently, prevent cybercrimes like trademark violations and copyright infringements as well as real life developments in this field  In our second article, we discuss the major leap that cybercrimes have taken in the field of IPR and evaluate the issues faced while dealing with such cybercrimes and the scope of Indian regulations to tackle such issues.

We hope you find this issue of Legist informative and interesting.

Happy reading!

April 2022-03
April 2022-02

Legist Newsletter

Issue: March, 2022

For Private Circulation Only

March 22-05


Welcome readers, to this year’s third issue of Legist.

 

This March, we would like to abreast you with the new draft regulations issued by the European Union aimed specifically at the use and development of Artificial Intelligence. In our first article, we have brought to you a detailed analysis of the new AI regulations, from the perspective of their scope, necessity and enforcement. Special emphasis has been made on comparing the new regulations with the Silicon Valley Standards. In our second article, we venture out to discuss the impact that these regulations might have over the world of AI and what all prohibitions are put in place to deal with the risks involved in their implementation. The objective being to analyse the transboundary influence it’ll have over AI laws globally.

 

We hope you find this issue of Legist informative and interesting.

Happy reading!

Website Design for Draft 1
Webiste Design for Draft 2

Even though the EU regulation is not yet in force, it provides a clear insight into the future of AI regulation as a whole, the time to begin understanding its implications and take steps to prepare for them as well as for the regulations are sure to follow. In this article by Vrinda Talwar and Krishna Garg we intend to provide an understanding of all the risks involved while dealing with such a new and complex field of law, along with the influence that these regulations will hold in the global sphere as we move forward in the development of AI laws.

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Legist Newsletter

Issue: February, 2022

For Private Circulation Only

legist-welcom

 

Welcome readers, to this year’s second issue of Legist.

 

This February, we would like to abreast you with the developments that have taken place in the anti-corruption framework. In our first article, we have brought to you a detailed analysis of the anti-corruption legislations that are in force in India. Special emphasis has been placed on elaborating the 2018 amendment to the Prevention of Corruption Act. In our second article, we venture out to compare the anti-corruption laws prevalent in different countries and compare the same with the ones enforced in India. The objective being to get a bird’s eye view of what all areas may require better policy formulation in Indian laws.

 

We hope you find this issue of Legist informative and interesting.

Happy reading!

Design for Draft I
Design for Draft 2

The legislative regime in India for prevention and penalization of corruption is stringent. With multiple statutes in place to prevent corruption among public officials as well as private bodies including companies. Currently, India’s anticorruption laws lack extraterritorial jurisdiction over cases of illicit gratification and payments made to foreign officials or employees employed by public international organizations. The aim of this article is to make a comparative analysis of international trends and legislations pertaining to prevention of corruption with the Indian regime, as a key step towards better policy formulation.

Read More

 

 


 


Union Budget 2022-23 

Custom reforms

The Finance Minister has proposed the following reforms on Custom reforms during her budget speech for the financial year 2021-22.

  • Concessional customs duty on capital goods to be phased out, initial rate of 7.5% to be imposed
  • More than 350 exemptions on some agri products, chemicals, drugs, etc to be phased out 
  • Custom Duty imitation jewellery raised to discourage their Imports.
  • Custom Duty on methanol to be reduced.
  • Duty concessions on parts of phone chargers, transformers, etc to enable domestic manufacturing.
  • Custom on diamonds reduced to 5%.
  • Custom duty exemption on steel scrap is being extended by a year to help MSMEs.
  • Duty concessions being given to promote electronics manufacturing, wearables and hearables devices included. Duty concessions to [parts of mobile phones including camera module etc.

 


 

Indirect Tax

The Finance Minister has proposed the following reforms on Indirect Tax in her budget speech for the financial year 2021-22.

  • Both Centre and States govt employees’ tax deduction limit to be increased from 10% to 14% to help the social security benefits of state govt employees and bring them at par with the Central govt employees.
  • Corporate surcharge to be reduced from 12% to 7%.
  • The gross GST collections for the month of January 2022 are Rs 1,40,986 crores which is the highest since the inception of GST.
  • GST has been a landmark reform. GST revenues are buoyant despite the Covid-19 pandemic
  • Recipient to be taxed in case of gift of virtual digital assets.
  • Existing tax benefits for startups, which were offered redemption of taxes for 3 consecutive years, to be extended by 1 more year.
  • Long term capital gains on listed equity share units subject to maximum surcharge at 15%. propose to cap transfer of long term capital gains at 15%.

 


 

Direct Tax

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • Fiscal Deficit target set at 6.4% for FY23.
  • FY23 total expenditure seen at Rs 39.45 lakh crore.
  • Total Receipts other than borrowing seen at Rs 22.84 lakh crore.
  • Rs 1 lakh crores allocated to States for catalysing overall investments in the economy. 
  • A new provision to allow Taxpayers to file an Updated Return. Updated Return can be filed within 2 Years from the end of the relevant assessment year.
  • Alternate minimum tax to be reduced and brings up-to 15% for Cooperative Societies.
  • The Finance Minister propose to increase tax deduction limit to 14% on employers contribution to NPS account of state govt employees.
  • Proposal will reduce surcharge on Cooperative Societies to 7%, for those whose income is between Rs 1 crores and Rs 10 crores.
  • Tax incentives for startups to be incorporated until March 31, 2023.
  • Income from transfer of Digital Assets to be taxed at 30%.
  • Recipient to be taxed in case of Gift of Virtual Digital asset.
  • A TDS of 1% will be levied for transactions above a certain threshold.
  • Gift of cryptocurrencies to be taxed at the receiver’s end.
  • Long term capital gains on listed equity share units subject to maximum surcharge at 15%. propose to cap transfer of long term capital gains at 15%.
  • Both Centre and States govt employees’ tax deduction limit to be increased from 10% to 14% to help the social security benefits of state govt employees and bring them at par with the Central govt employees.
  • Corporate surcharge to be reduced from 12% to 7%.

 


 

Startups regime

The Finance Minister has proposed the following reforms on Startup regime during her budget speech for the financial year 2021-22.

  • Tax incentive for Startups to be incorporated in March 31, 2023.
  • One comprehensive tax code for all Startups and Funds.
  • Domestic Institutional Funds on Startups

 


 

Small Business Enterprise & Business Entities

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • SEZ act to go, new law to allow states to partner to enhance export performance.
  • The Animation, Visual Effects, Gaming, and Comics Industries have enormous potential for youth employment. An AVGC promotion task force will be formed with all stakeholders to recommend ways to achieve this and build domestic capacity to serve our markets and global demand.
  • Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) to be revamped with required fund infusion
  • Additional credit of Rs. 2 lakh crore will be made available to Micro and Small Enterprises, expanding job opportunities.
  • DYAM, e-SHRAM, National Career Service (NCS), ASEEM portals to be interlinked.
  • Will now work with live organic databases for G2C, B2C, and B2B credit facilitation and recruitment. To formalise the economy and create jobs

 


 

Digital Currency

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • Digital Rupee, using blockchain, to be launched by RBI in 2023
  • Digital Currency will also lead to a more efficient and cheaper currency management system. It is therefore proposed to introduce digital rupee using blockchain and other technology to be issued by the Reserve Bank of India starting, 2022 and 2023
  • A completely paperless end-to-end online e-bill system will be launched for use by all Central Ministries in their procurements to increase transparency and reduce payment delays.

 


 

Finance 

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • India to launch sovereign green bonds.
  • Funds will be used for projects that will help reduce carbon intensity of the economy.
  • Sovereign green bonds will be part of government’s borrowing programme in FY23.
  • Proceeds to be deployed in public sector projects.

 


 

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 –

  • Animation, gaming task force to be set up.
  • Animation, visual effects, gaming and comics sector offers immense potential to employ youth. 
  • An AVGC promotion task force with all stakeholders will be set up to recommend ways to realize this and build domestic capacity for serving our markets and the global demand.

 


 

Unified Logistics Interface Platform

The Finance Minister has proposed the following reforms on Unified Logistics Interface Platform during her budget speech for the financial year 2021-22.

  • Data exchange among all-mode operators to be brought on Unified Logistics Interface Platform
  • Enable efficient movement of goods.
  • Reduce logistics costs and time
  • Assist Just-In-Time inventory management
  • Eliminate tedious documentation

 


 

PM AWAS YOJANA

The Finance Minister has proposed the following reforms on PM AWAS YOJANA during her budget speech for the financial year 2021-22.

  • Rs 48, 000 crore is allotted for PM Awas Yojana.
  • In 2022-23, 80 lakh houses will be completed for identified beneficiaries of PM Awas Yojana; 
  • 60,000 houses will be identified as beneficiaries for PM Awas Yojana in rural & urban areas.
  • 60,000 crore allocated for providing access to tap water to 3.8 crore households
  • In 2022-23, 80 lakh households will be identified for the affordable housing scheme

 


 

Defence 

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • Defense R&D will be opened up for industry, startups and academia with 25% of defense R&D budget.
  • Private industry will be encouraged to take up the design and development of military platforms and equipment in collaboration with DRDO and other organizations through SPV model.
  • 68% of capital procurement budget in defence will be earmarked for domestic industry in 2022-23 (up from the 58% last fiscal)

 


 

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • Battery Swapping Policy will be brought out & inter operational service will be formulated.
  • 6,000 crore rupees programme to rate MSMEs to be rolled out over 5 years. 
  • 400 new generation Vande Bharat trains with better energy efficiency & passenger riding experience will be manufactured during the next 3 years. 
  • 100 PM Gati Shakti Cargo terminals to be developed during the next 3 years.

 


 

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • Amendments for the Bankruptcy Code: – 
  • IBC amendments to enhance efficiency of resolution process
  • Facilitate cross-border insolvency resolution
  • To speed up voluntary winding up of companies

 


 

Social, Health & Wellness Development

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • The Government has completely revamped the Ministry of Women and Child Development schemes such as Mission Shakti, Mission Vatsalya, Saksham Anganwadi, and Poshan 2.0.
  • An open platform for the National Digital Health Ecosystem will be rolled out. It will consist of digital registries of health providers and health facilities, unique health identity and universal access to health facilities
  • Government is committed to improve the living standards in the Aspirational Districts. 
  • Contracts for Multi-Modal Parks at 4 locations to be awarded next Fiscal.
  • A High-Level Committee of Urban Planners and Economists will be formed to make recommendations on building urban capacity, planning implementation, and governance.

 


 

The Finance Minister has proposed the following  reforms in her budget speech for the financial year 2022-23 :

  • Budget2022-2023 for AMRIT KAAL: From India @ 75 till India @ 100.
    Four priorities for Amrit kaal –
    1) PM gatishakti
    2) Inclusive dev
    3) Productivity in Sunrise sector
    4) Energy Transition and Climate Action
  • Private sector will be encouraged to create sustainable and innovative business models for battery and energy as a service, improving the efficiency in the EV ecosystem
  • ‘One Nation, One Registration’ will be established for anywhere registration to facilitate ease of living & doing business.
  • Battery Swapping Policy will be brought out & inter operational service will be formulated.

 


 

The Finance Minister has proposed the following reforms during her budget speech for the financial year 2022-23 –

  • Rs 48,000 crore is allotted for PM Awas Yojana.
  • In 2022-23, 80 lakhs houses will be completed for identified beneficiaries of PM Awas Yojana;
  • 60,000 houses will be identified as beneficiaries for PM Awas Yojana in rural & urban areas.
  • Rs. 60,000 crore allocated for providing access to tap water to 3.8 crore Households.
  • In 2022-23, 80 lakhs Households will be identified for the Affordable Housing Scheme.
  • A high-level committee for Urban Planners and Economists to be formed for recommendations on urban capacity building, planning implementation, and governance.

 


 

Telecom

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • Sitharaman said that required spectrum auction will be conducted in 2022 for the rollout of 5G mobile services by Private Telecom Providers.
  • Scheme for design led manufacturing to be launched for 5G ecosystem as part of PLI scheme to enable affordable broadband and mobile communication in rural and remote areas.

 


 

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 –

For the Education Sector: 

  • States will be encouraged to revise syllabi of Agricultural Universities to meet needs of natural, zero-budget & organic farming, Modern-Day Agriculture
  • One class, one TV channel’ program of PM eVIDYA will be expanded from 12 to 200 TV channels.
  • This will enable all states to provide supplementary education in regional languages for classes 1 to 12.

 


 

Civil Aviation

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • Startups will be facilitated to use Drone Shakti. 
  • Strategic transfer of Air India ownership has been completed.
  • Strategic buyers for NINL have been selected.
  • Embedded chip e-passport will issued
  • ePassports will be rolled out in 2022-23 for convenience in overseas travel

 


 

The Finance Minister has proposed the following reforms on Digital Push during her budget speech for the financial year 2021-22.

· Digital ecosystem for skilling and livelihood will be launched.

· This will aims to skill, reskill, upskill citizens through online training.

· API based skill credentials, payment layers to find relevant jobs and opportunities

· An open platform for the national digital health ecosystem will be rolled out.

 


 

Small Enterprise 

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • MSMEs such as Udyam, e-shram, NCS & Aseem portals will be inter-linked, their scope will be widened.
  • They will now perform as portals with live organic databases providing G-C, B-C & B-B services such as credit facilitation, enhancing entrepreneurial opportunities.
  • A fund with blended capital raised under co-investment model facilitated through NABARD to finance startups in agriculture & rural enterprises for farm produce value chain

 


 

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • For mental health counselling, a National Tele Mental Health Program will be launched. 
  • For women-led development, the government has launched:
    1. Mission Shaki
    2. Mission Vatsalya
    3. Poshan 2.0 
  • Contracts for implementation of Multimodal Logistics Parks at 4 locations to be awarded in 2022-23, in PPP Mode.
  • PM development initiatives for the North East will be implemented for the North Eastern Council. 
  • This will enable livelihood activities for youth and women. This scheme is not a substitute for the existing Centre or State schemes.

 


 

Infrastructure Development

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  1. FM Nirmala Sitharaman announces :
  • 400 new #VandeBharat trains to be introduced
  • One Station, One Product concept will be popularized.
  • ECLGS extended till March 2023′
  • Use of Kisan Drones for crop assessment
  1. The main 7 focusing areas under budget :
  • PM Gati Shakti
  • Inclusive Development
  • Productivity Enhancement
  • Sunrise Opportunities
  • Energy Transition
  • Climate Action
  • Financing of investments
  1. Skilling programs will be reoriented. For skilling, upskilling & reskilling of our youth, Digital DESH e-portal will be launched

 


 

Agriculture

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • Ms. Nirmala Sitharaman announces creation of 60 lakh jobs; world class infrastructure, expansion of highways by 25,000 kms & ‘Gati Shakti’ Master Plan among top priorities.
  • Budget2022 lays parallel track of futuristic and inclusive blueprint for Amrit Kaal. Big public investment for modern infra readying for India at 100, guided by PM Gati Shakti
  • Use of Kisan Drones for crop assessments, land records, spraying of insecticides is expected to drive a wave of technology in Agri & farming sector.
  • For farmers to adopt to natural farming, comprehensive package for participation of State governments & MSMEs to be introduced.
  • Rs 2.37 lakh crores will be directly paid as MSP value to the accounts of farmers for crop procurement in 2021-22, says FM #NirmalaSitharaman.
  • The implementation of the Ken-Betwa link worth ₹44,605 crore will be taken up at providing irrigation of over 9 lakh hectares of farmers land providing irrigation, farming & livelihood facilities to farmers & local population.

 


 

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • Hospitality services by the small & medium sector are yet to bounce back, therefore, the government has decided to extend the ECGL service for this sector by March 2023 with an increased cover of ₹50,000.
  • Skilling programs will be reoriented. For skilling, upskilling & reskilling of our youth, Digital DESH e-portal will be launched.

 


 

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • The National Highway network will be expanded by 25,000 km in 2022-23. 
  • Strengthening of health infra, speedy vaccination programme implementation and nationwide resilient response to current wave of COVID19 pandemic are evident to all.
  • One Product will be popularised to help local businesses and supply chains
  • National Bank for Infrastructure Development, National Asset Reconstruction Company have commenced activities.
  • Big public investment for modern infra readying for India at 100, guided by PM Gati Shakti.

 


 

-world class infrastructure, expansion of highways by 25,000 kms & ‘Gati Shakti’ Master Plan among top priorities.

 


 

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • Production Linked Incentive (PLI) Scheme for achieving #AatmaNirbharBharat has received excellent response, with potential to create 60 lakhs new jobs.
  • Implementation of new Public Sector Enterprise (PSE) Policy.
  • Strategic Partner for Neelanchal Ispat Nigam has been selected.

 


 

The Finance Minister has proposed the following  reforms during her budget speech for the financial year 2022-23 :

  • This budget seeks to lay the foundation and steer the economy in the next 25 years. From India at 75 to India at 100: The Finance Minister
  • Modi govt has focused on empowerment of citizens since 2014.
  • The Finance Minister, says India is now in a strong position to withstand challenges.
  • India’s growth estimated to be at 9.2%, highest among all large economies: The Finance Minister
  • The Finance Minister, begins her budget speech by expressing empathy to those who suffered during the pandemic.

 

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