State PSC Focused Daily Current Affairs with Static GK 24 December 2022

State PSC Focused Daily Current Affairs with Static GK 24 December 2022

What are the key provisions of the Jan Vishwas (Amendment of Provisions) Bill, 2022?

The Jan Vishwas (Amendment of Provisions) Bill, 2022 proposes to amend 183 provisions across 42 Acts administered by 19 ministries.

Some of the Acts the Bill proposes to amend are:

Drugs and Cosmetics Act, 1940

Public Debt Act, 1944; Pharmacy Act, 1948

Cinematograph Act, 1952

Copyright Act, 1957

Patents Act, 1970

Environment (Protection) Act, 1986

Motor Vehicles Act, 1988

Trade Marks Act, 1999Railways Act, 1989

Information Technology Act, 2000

Prevention of Money-laundering Act, 2002

Food Safety and Standards Act, 2006

Legal Metrology Act, 2009

Factoring Regulation Act, 2011

These laws are administered by 14 ministries, which include food production and distribution, finance, commerce, agriculture, environment, road transport and highways, posts, and IT.

It seeks to promote ease of doing business by decriminalizing a large number of minor offenses under these Acts and replacing them with monetary penalties.

The Bill also proposes to rationalize the monetary penalties based on the gravity of the offence

Why is this Bill significant?

The fear of imprisonment for minor offences is among the major hurdles for the business growth. The Bill proposes to replace such provisions with monetary penalties so that businesses can function without fearing incarceration.

The Bill will make India a more attractive investment destination for foreign businesses by ushering in trust-based governance.

It will save time, energy, and resources by enabling individuals to settle minor contraventions and defaults through compounding method, adjudication and administration mechanisms without involving courts. This will help significantly minimize the burden on the judiciary.

What is the current status of the Bill?

The Bill is currently being scrutinized by a 31-member joint Parliamentary Committee. This committee is expected to submit its report during the second part of the Budget session in 2023

 #Daily_Current_Affairs #Jan_Vishwas #Amendment_Of_Provisions #Bill #Government #India #State_PSC #GK

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