Chandigarh (Punjab) [India], October 18 (ANI): The Punjab Cabinet on Sunday approved the conversion of the Factories (Punjab Amendment) Ordinance, 2020 into a Bill to further improve investment in the state and generate employment.
The Bill will be tabled in the Vidhan Sabha for enactment tomorrow.
The approval was granted in a meeting of the Council of Ministers, headed by Chief Minister Captain Amarinder Singh.
The Bill aims to amend section 2m (i), 2m (ii), 65 (4), 85 and to insert a new section (106- B) in the Factories Act, 1948.
The Bill seeks to change the existing threshold limit for small units from 10 and 20 to 20 and 40 respectively to promote small manufacturing units.
"The Bill provides for changing the existing threshold limit for small units from 10 & 20 to 20 and 40 respectively. The change has been necessitated to increase in manufacturing activity of small units in the State and is aimed at promoting small manufacturing units. This would help create more employment opportunities for workers. Consequently, the existing section 85 of the Act would also stand amended," according to an official spokesperson. (ANI)