CURRENT AFFAIRS

2020

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which state Becomes the First State to Amend Industries (Facilitation) Act for Small, Medium and Large-scale Industries?

A	Tamil Nadu
B	Madhya Pradesh
C	Karnataka
D	Andhra Pradesh

Explanation:

Detailed explanation-1: -An Act to provide for the promotion of industrial development and facilitation of new investments to simplify the regulatory frame work by reducing procedural requirements and rationalising documents and to provide for an investor friendly environment in the State of Karnataka.

Detailed explanation-2: -The Karnataka Industries (Facilitation) (Amendment) Ordinance, 2020 was promulgated on July 1, 2020. It amends the Karnataka Industries (Facilitation) Act, 2002. The Ordinance relaxes certain approval processes required by manufacturing industries or enterprises to commence operations.

Detailed explanation-3: -Today there are more than 8.5 lakh Micro, Small and Medium Enterprises (MSMEs) in Karnataka which employ over 55 lakh people. The major industries are food processing units, engineering units, ready- made garments manufacturing units, foundry units, automobile units, chemical plants, handicrafts units, etc.

There is 1 question to complete.