Several major decisions have been taken in the Modi's Cabinet meeting. The government has approved the scope to increase the scope of the SME industry. The government has approved the agreement with China to prevent tax evasion. Apart from this, the government has decided to close the National Health Fund. However, the new scheme has been approved to increase medical education.
In a cabinet meeting, the government has decided to improve the National Health Fund which is sanctioned scheme to enhance medical education. The government has decided to open 248 nursing schools while sanctioning plans for health and education. The government has increased the turnover limit of Micro Enterprises to Rs 5 crore, while small enterprises have also increased the turnover to the extent of Rs 75 crore.witter Ads info and privacy
A decision has also been taken to make changes in SME Development Law 2006. Giving the approval to auction the next phase of small oilfield ONGC, Oil India Limited, 60 small oils wells are sold. It was also proposed to ban the participation of the auction.
Apart from this, the Insolvency and Bankruptcy Act (Amendment) Bill 2017 has also been approved. At present, the government has made changes in the bill through an ordinance. Under this bill, the promoter of the bankrupt company has proposed to ban the participation in the auction.