The proposed National Manufacturing Policy has moved one more step closer to being a reality. Prime Minister's principal secretary TKA Nair, who chaired an inter-ministerial meeting on the policy today, asked all concerned government departments to submit their views on the policy in the next two weeks.
Sources told CNBC-TV18's Rituparna Bhuyan that more than half of the issues regarding the policy have been sorted out. The most significant among them is that the finance ministry is ready to consider capital gains exemption for units set up under the national investment and manufacturing zones (NIMZs). The ministry of environment and forests (MoEF) has also agreed to look in to most of the norms related to easier environmental clearances for the NIMZs. However, the labour ministry is yet to come on board on the series of labour law exemptions proposed for the super manufacturing zones. Sources added that the ministry has asked for more time to look in to international best practices seen in labour related norms.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
