Budget 2023: What were the ‘Vishwas’-building measures?

Budget 2023 proposed ways to reduce conflict (Vivad) and enhance trust (Vishwas) between the government and enterprises/citizens. One Vivad-to-Vishwas measure is to return to government contractors 95% of the amount they had forfeited as penalty for not completing their project during the pandemic. It is meant to provide some relief for MSMEs. Another such measure is introduction of a voluntary settlement scheme to end contractual disputes with the government or government entities, disputes which are otherwise stuck in courts over one of the parties challenging an arbitral award. This will be done with standardised terms.