The Industrial Relations Code is one of three laws aimed at effecting labour reforms that were passed by Parliament Wednesday. It seeks to amend laws relating to trade unions.
Labour Minister Santosh Gangwar said that the purpose of labour reforms is to provide a transparent system to suit the changed business environment.
In his reply to a question in the Parliament on Modi's foreign visits, MoS V Muraleedharan, said the trips have contributed to India's national development agenda to promote economic growth.
The bill provides for reduction in administrative expenses of any NGO receiving foreign funding, from 50% to 20% of annual funds to ensure spending on their main objectives.
The three codes — on industrial relations, health & safety and social security — aim to reform archaic Indian labour laws and benefit employers & employees.
The bills were passed after most of the Opposition including the Congress, Left parties, TMC, SP and NCP decided to boycott the proceedings in protest against the suspension of 8 MPs.
The Yogi govt has notified the MSME (Establishment and Operations) Act of 2020. The law seeks to ease the process of opening up businesses in the state.
Speaking in the Rajya Sabha, Nirmala Sitharaman said the amendment is to protect depositors' interest and is only for cooperative societies engaged in banking activities.
The amendments to the essential commodities law aim to remove fears of private investors of excessive regulatory interference in their business operations.
Opposition stages walkout from Rajya Sabha after Chairman Venkaiah Naidu refused to revoke the suspension of the 8 MPs.