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Government notifies the Plastic Waste Management Amendment Rules, 2021, prohibiting identified single use plastic items by 2022.

Posted on by Business So Simple in Legal awareness

Government notifies the Plastic Waste Management Amendment Rules, 2021, prohibiting identified single use plastic items by 2022.


Thickness of plastic carry bags increased from 50 to 75 microns from 30th September, 2021 and to 120 microns with effect from the 31st December, 2022.

Guidelines for Extended Producer Responsibility given legal force.

Ministry of Environment, Forest and Climate Change Press release 13th Aug 2021

In line with the clarion call given by Prime Minister Shri Narendra Modi to phase out single use plastic by 2022, keeping in view the adverse impacts of littered plastic on both terrestrial and aquatic ecosystems, the Ministry of Environment, Forest and Climate Change, Government of India, has notified the Plastic Waste Management Amendment Rules, 2021, which prohibits identified single use plastic items which have low utility and high littering potential by 2022.  

Pollution due to single use plastic items has become an important environmental challenge confronting all countries. India is committed to take action for mitigation of pollution caused by littered Single Use Plastics. In the 4th United Nations Environment Assembly held in 2019, India had piloted a resolution on addressing single-use plastic products pollution, recognizing the urgent need for the global community to focus on this very important issue. The adoption of this resolution at UNEA 4 was a significant step.

The manufacture, import, stocking, distribution, sale and use of following single-use plastic, including polystyrene and expanded polystyrene, commodities shall be prohibited with effect from the 1st July, 2022:-

  1. ear buds with plastic sticks, plastic sticks for balloons, plastic flags, candy sticks, ice-cream sticks, polystyrene [Thermocol] for decoration;
  1. plates, cups, glasses, cutlery such as forks, spoons, knives, straw, trays, wrapping or packing films around sweet boxes, invitation cards,  and cigarette packets, plastic or PVC banners less than 100 micron, stirrers.

In order to stop littering due to light weight plastic carry bags, with effect from 30th September, 2021, the thickness of plastic carry bags has been increased from fifty microns to seventy five microns and to one hundred and twenty microns with effect from the 31st December, 2022. This will also allow reuse of plastic carry due to increase in thickness.

The plastic packaging waste, which is not covered under the phase out of identified single use plastic items, shall be collected and managed in an environmentally sustainable way through the Extended Producer Responsibility of the Producer, importer and Brand owner (PIBO), as per Plastic Waste Management Rules, 2016. For effective implementation of Extended Producer Responsibility the Guidelines for Extended Producer Responsibility being brought out have been given legal force through Plastic Waste Management Amendment Rules, 2021.

The waste management infrastructure in the States/UTs is being strengthened through the Swachh Bharat Mission. The following steps have also been taken to strengthen implementation of Plastic Waste Management Rules, 2016 and also to reduce the use of identified single use plastic items:(i) the States/UTs have been requested to constitute a Special Task Force for elimination of single use plastics and effective implementation of Plastic Waste Management Rules, 2016. A National Level Taskforce has also been constituted by the Ministry for taking coordinated efforts to eliminate identified single use plastic items and effective implementation of Plastic Waste Management Rules, 2016.

The State /UT Governments and concerned Central Ministries/Departments have also been requested to develop a comprehensive action plan for elimination of single use plastics and effective implementation of Plastic Waste Management Rules, 2016, and its implementation in a time bound manner. Directions under Section 5 of Environment (Protection) Act, 1986, have been issued to all States/Union Territories inter alia for setting up for institutional mechanism for strengthening enforcement of Plastic Waste Management (PWM) Rules, 2016.

The Government has also been taking measures for awareness generation towards elimination of single use plastics and effective implementation of Plastic Waste Management Rules, 2016.  A two month long Awareness Campaign of Single Use Plastic 2021 has been organized. The Ministry has also organized pan India essay writing competition on the theme for spreading awareness amongst school students in the country.

To encourage innovation in development of alternatives to identified single use plastic items and digital solutions to plastic waste management, the India Plastic Challenge – Hackathon 2021, has been organized for students of Higher Educational Institutions and startups recognized under Startup India Initiative. 

Gazette Notification

Status of MSMEs and SMEs

Posted on by Business So Simple in MSME

The COVID-19 epidemic has temporarily affected various sectors including Micro, Small and Medium Enterprises in the country. Economic activity contracted due to the strict lockdown measures imposed by the Government. This contraction has also had impact on the MSME sector.

        The Ministry of MSME implements various schemes and programmes for growth and development of MSME Sector in the country. These schemes and programmes include Prime Minister’s Employment Generation Programme (PMEGP), Scheme of Fund for Regeneration of Traditional Industries (SFURTI), A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE), Interest Subvention Scheme for Incremental Credit to MSMEs, Credit Guarantee Scheme for Micro and Small Enterprises, Micro and Small Enterprises Cluster Development Programme (MSE-CDP), Credit Linked Capital Subsidy and Technology Upgradation Scheme (CLCS-TUS). Achievements under some of them are:

Refer data on following link:

Status of MSMEs and SMEs

https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1744033&RegID=3&LID=1

Ministry of Micro, Small & Medium Enterprises Press Release dated 09th Aug 2021

2 held by CGST Officials for input tax credit fraud of more than Rs 10 crore

Posted on by Business So Simple in GST

Ministry of Finance Press Release dated 11th Aug 2021

The CGST Commissionerate, Faridabad, Haryana has arrested two Directors of M/s. F2C Wellness Pvt. Ltd.,  Faridabad on charges of illegally availing and passing on input tax credit (ITC) by issuance of invoices without supply of goods.

On the basis of the investigation conducted till date, the said firm showed purchase of cement from non-existent concern namely M/s Vishal Enterprises, Gautam Buddha Nagar using fraudulent invoices not backed by concomitant supply of goods, showing fake transport records. In this way, M/s. F2C Wellness Pvt. Ltd., Faridabad had passed fraudulent ITC of Rs.  10.33 crore on invoices without accompanying goods to various end users.

The investigation spanned multiple locations in Delhi NCR area and based on documentary evidence and statements recorded, it was ascertained that Shri Paras Arora and Shri Devpal Soni, both directors of the said firm, were key players in the network of companies availing fraudulent  ITC.

Accordingly, Shri Paras Arora and Shri Devpal Soni, have been arrested on 10.08.2021 and produced before, the Ld. Chief Judicial Magistrate, Faridabad, who has sent them to judicial custody for 14 days. A total fraudulent ITC of Rs 10.33 crore has thus been passed/availed by the said firm.

Further investigation in the matter is under progress.

Government e-Marketplace (GeM) organizes th edition of National Public Procurement Conclave

Posted on by Business So Simple in Entrepreneurship

Government e-Marketplace (GeM) organizes 5th edition of National Public Procurement Conclave


GeM has been instrumental in transforming the public procurement scenario in the country:Minister of State for Commerce and Industry Smt. Anupriya Patel

Digital Exhibition of various products and services by sellers available on GeM platform for 30 days from August 9 – September 9, 2021

Ministry of Commerce & Industry Press Release dated Aug 11, 2021

The 5th edition of the National Public Procurement Conclave (NPPC) was organized by Government e-Marketplace (GeM) in association with the Confederation of Indian Industry [CII] on August 9th&10th, 2021 on the theme “Technology enabled Government Procurement – Towards Efficiency, Transparency, and Inclusiveness”.

The conclave was inaugurated virtually by Minister of State for Commerce and Industry, Smt. Anupriya Patel on August 9, 2021 in the presence of Shri BVR Subrahmanyam, Secretary Commerce and Chairman GeM. Delivering the inaugural address, the Minister said that GeM has been instrumental in transforming the public procurement scenario in the country. She emphasized upon the larger objective of GeM focusing on inclusivity. Shri B.V.R. Subrahmanyam, a guest of honour at the event, echoed the vision of  Prime Minister Sh. Narendra Modi of “Local goes Global” and suggested that GeM should explore possibilities to support the concept of an Atmanirbhar Bharat and giving a fillip to the Make in India ecosystem in the country.

The conference featured an overview session on GeM which took participants through the platform’s key features and functionalities. The Conclave alsohad an eclectic range of panel discussions ranging from promotion of MSMEs in public procurement to how fintech can enable access to credit for sellers and service providers doing business with the Government. Some of the other highlights at NPPC 2021 included the virtual B2B and B2G meetings between Govt. buyers and sellers, training and technical sessions on GeM features and new developments, a virtual GeM stall to resolve queries on the spot and facilitate registration of sellers and buyers, special session for Services such as Hospitality, Travel and Accommodation bookings, on GeM and DIVE sessions where buyers and sellers made online presentations to the participants.

This year’s Conclave provided an excellent opportunity for Government buyers, sellers, industry, and academia to interact with each other, and served as an online platform for sellers to showcase their products and services through the CII’s HIVE Digital Platform. Digital Exhibition of various products and services by sellers that are available on the GeM platform will be showcased during the Conclave for 30 days from August 9- September 9, 2021.

As a fitting closure and to commemorate the undying support of GeM’s stakeholders, the top performing buyers and sellers were awarded for leading the procurement efforts through GeM in financial year 2020-21. These awards were presentedby Shri. P.K. Singh, CEO, GeM to the top 2 entities based on order value and order volume.

For Central Govt. Buyers, the winner was Ministry of Defence while the runner up in this category was Ministry of Petroleum and Natural Gas. For State Govt. Buyers, Uttar Pradesh was adjudged the winner, while the runner up in this category was Gujarat. For CPSEs the winner was GAIL India Limited followed by Oil and Natural Gas Corporation. Ltd. On the seller’s front, the award was presented to TATA Motors Ltd. for best sales performance with Mahindra and Mahindra Ltd. being the runner up in this category.

In his valedictory address, Shri. P.K. Singh, CEO, GeM congratulated the award winners and thanked them for partnering with GeM in this journey of transforming public procurement through extensive use of technology. He also resonated the vision of the Prime Minister towards creating GeM as a public procurement portal to promote transparency, efficiency and inclusivity.

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Measures taken to curb food inflation and alleviate problems of common man due to COVID-19

Posted on by Business So Simple in Financial Prudence, Public Affairs

Ministry of Finance Press Release dated 10th Aug 2021

Measures taken to curb food inflation and alleviate problems of common man due to COVID-19

The Government is taking effective measures to curb inflation especially food inflation keeping in view of the condition of the people suffering from coronavirus pandemic situation in the country. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha today.

Enumerating more steps taken by the Government to alleviate the problems of the common man, the Minister stated that the buffer stock of pulses have been used to tackle price volatility of these commodities. Pulses from the buffer were used very effectively during the COVID-19 pandemic for supplying @ 1 kg per household per month free of cost to approx. 19 crore National Food Security Act (NFSA) beneficiary households between April and November 2020.

The Minister further stated that the Government imposed stock limits on some pulses under the Essential Commodities Act, 1955 in July 2021, which has had a salutary effect in terms of softening of prices.

The Minister stated that the Government eased import restrictions to enhance domestic availability of Tur, Urad and Moong and have also entered into MoUs with Myanmar, Malawi, Mozambique for pulses import. Basic import duty and Agriculture Infrastructure and Development Cess on Masur have been brought down to zero and 10% respectively.

The Minister stated that steps were taken to soften the prices of edible oils and the duty on Crude Palm Oil (CPO) has been cut, bringing down the effective tax rate on CPO to 30.25% from the earlier 35.75%. Further, the duty on Refined palm oil / Palmolein has been reduced to 37.5% from 45%, the Minister added.

Nearly 72% of financial transactions of Public Sector Banks (PSBs) done through digital channels

Posted on by Business So Simple in Financial Prudence

Nearly 72% of financial transactions of Public Sector Banks (PSBs) done through digital channels


Customers active on digital channels doubled from 3.4 crore in FY2019-20 to 7.6 crore in FY2020-21Posted Date:- Aug 10, 2021

Nearly 72% of financial transactions of Public Sector Banks (PSBs) are now done through digital channels, with customers active on digital channels having doubled from 3.4 crore in FY2019-20 to 7.6 crore in FY2020-21. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha today.

The Minister stated, however, that the license for banking is given by the Reserve Bank of India (RBI) and RBI has informed that it is not considering a separate licensing category for digital banks at present.

The Minister further enumerated a number of steps that have been taken to facilitate digital banking including, inter-alia: –

(1) Under the Public Sector Banks (PSB) EASE Reforms Agenda,—

  1. Enhanced access to mobile banking and Internet banking has been enabled through an increase in the PSB average for the number of services offered (43), customer-friendly features (135) and regional languages available on the customer interface (8);
  2. End-to-end automated digital lending has been introduced in larger PSBs for unsecured personal loans (in five PSBs), loans to micro-enterprises (“Shishu Mudra”, in five PSBs) and renewals of loans to micro, small and medium enterprises (in three PSBs);
  3. Digital retail loan request initiation through digital channels has been enabled in all the seven large PSBs, with retail disbursements from loan requests so initiated in the financial year (FY) 2020-21 amounting to Rs. 40,819 crore;
  4. Customer-need-driven, analytics-based credit offers have been given an impetus, resulting in Rs. 49,777 crore of fresh retail loan disbursements by the seven larger PSBs in FY2020-21.

(2) Government’s Jeevan Pramaan initiative for pensioners has enabled pensioners the facility to update their annual life certificate online.

(3) Initiation of digital lending has been made contactless through PSBloansin59minutes.com, using triangulation of credit bureau, income-tax and goods and services tax (GST) data, to provide online in principle approval for loans to Micro, Small and Medium Enterprises (MSMEs), home loans, personal loans and automobile loans.

(4) Online bill discounting for MSMEs has been enabled on a competitive basis through onboarding of PSBs onto the Trade Receivables Discounting System (TReDS) platform.

Ministry of Finance Press Release dated 10 Aug 2021

4,540 companies admitted into CIRP; 394 companies stand resolved with 36% realisation of claims by financial creditors under IBC (MCA Press Release dated 10th Aug 2021)

Posted on by Business So Simple in Company Law

As on 30th June 2021, 4,540 companies were admitted into Corporate Insolvency Resolution Process (CIRP) under Insolvency and Bankruptcy Code, 2016 (IBC). This was stated by Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in Rajya Sabha today.

Giving details on the resolution status, the Minister stated that 394 companies were resolved till 30th June 2021 wherein financial creditors (FCs) including financial institutions, had total claims amounting to Rs 6.80 lakh crore, out of which Rs 2.45 lakh crore have been realised, which is 36% of their claims.

The Minister further stated that the insolvency resolution process of the corporate debtor (CD) is market driven and the outcome depends on market forces which varies from case to case and sector to sector. The value realised by creditors depends on available assets at the stage of admission of case under the Code. Details of cases are available in public domain on the website of Insolvency and Bankruptcy Board of India (www.ibbi.gov.in) which is periodically updated.

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