KV News

Rightful thinking

Rightful thinking
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Post GST era when the governments are finding it hard to compensate for the revenue losses, various initiatives are being taken in various states where the government is trying its best to improve the revenue collection.

From today onwards the Maharashtra government considered to be the economic Capital of India, took a decision that has far reaching consequences vis-a-vis the business conduct rules and the emerging business model.

The government decided to let shops, hotels and malls to remain open round-the-clock through the week in the entire state. According to a new law, which applies today will apply to bars, pubs, liquor shops and discotheques. The government notified the amended Maharashtra Shops and Establishments (Regulation of Employment and Service Condition) Act, 2017, which covers hotels, malls and restaurants.

The bill was passed by the Maharashtra legislature during its last session. The new law excludes bars, pubs, wine shops and discos which have to open and close at a particular time.

The amendment now allows all shops to remain open in three shifts. It can remain open for 24 hours on all seven days. It is, however, mandatory to give one-day leave to their employees every week. This will ensure that the employee’s rights are not trampled upon and the owner or the promoter also increases his business output thereby helping in increasing the revenues for the state as well.

The relaxation which has been offered is expected to benefit about 22 lakh business establishments in the state.

Businesses across India have started to feel a steep decline post the application of the GST regime. Not only have small businesses witnessed a sever hit but investments too has taken witnessed a decline.

There are numerous instances when banks have been requesting promoters and entrepreneurs to come up with business proposals however, the people are staying away from investing or establishing new business ventures. This phenomenon is reflected in most of the states and Jammu and Kashmir too is no exception to the fact. In fact business in Jammu and Kashmir has been under tremendous stress owing to the August 5 decision of the centre to abolish the article 370. Since then tourism, handicrafts, manufacturing, retail and all other allied sectors have witnessed a slide with things getting worse with every passing day. The improvement seems a farfetched dream as the government is yet to restore the internet facilities even in Kashmir region. Though 2G internet services have been restored from today but the services will do no good to the ailing and stressed business community.

Kashmir has over the past three decades witnessed decreased number of business days owing to the turmoil. In such a situation the government too needs to think positively and work on a plan which Maharashtra has adopted so that business hours are increased creating more avenues for the entire industry as a whole.

KV News

Kashmir Vision cover all daily updates for the newspaper

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