Govt clears new I-T bill, to be introduced in Parl next week

Restructuring of Skill India Prog approved

*3 years extension for NCSK

NEW DELHI, Feb 7:

The Union Cabinet on Friday approved the new Income Tax bill, which will replace the six decades old I-T Act, sources said.
The new bill seeks to make direct tax law simple to understand and not to impose any new tax burden. It will not have provisos and explanations or long sentences.
The Cabinet, chaired by Prime Minister Narendra Modi, approved the New Income Tax bill, sources said.

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Sources said the New Income Tax bill will now be introduced in the Parliament next week and would be sent to Parliament’s Standing Committee on Finance.
The first leg of the ongoing budget session ends on February 13. The session will reconvene on March 10 and sit through April 4.
The Union Cabinet also approved the continuation and restructuring of central sector scheme ‘Skill India Programme’ till 2026 with an overlay outlay of Rs 8,800 crore.
Giving details, Information and Broadcasting Minister Ashwini Vaishnaw said Pradhan Mantri Kaushal Vikas Yojana 4.0 (PMKVY 4.0), the Pradhan Mantri National Apprenticeship Promotion Scheme (PM-NAPS), and the Jan Shikshan Sansthan (JSS) Scheme — the three key components — are now combined under the composite Central Sector Scheme of “Skill India Programme”.
The allocation towards PMKVY 4.0 is Rs 6,000 crore, PM-NAPS Rs 1,942 crore and JSS Rs 858 crore.
An official release said that the approval underscores the Government’s commitment to building a skilled, future-ready workforce by integrating demand-driven, technology-enabled, and industry-aligned training across the country.
“These initiatives aim to provide structured skill development, on-the-job training, and community-based learning, ensuring that both urban and rural populations, including marginalized communities, have access to high-quality vocational education,” it said.
Under the three flagships schemes of Ministry of Skill Development and Entrepreneurship, there are more than 2.27 crore beneficiaries till date.
The Pradhan Mantri Kaushal Vikas Yojana 4.0 (PMKVY 4.0) has undergone transformational changes to make skill development training industry oriented, aligned with national priorities with increased accessibility.
A key shift under the scheme is the integration of On-the-Job Training (OJT) within short-term skilling programmes, ensuring that trainees gain real-world exposure and industry experience. To keep pace with evolving industry demands and advent of new age technology, 400-plus new courses on AI, 5G technology, cybersecurity, green hydrogen, drone technology, have been introduced, focusing on emerging technologies and future skills.
A key reform in PMKVY 4.0 is the “Ease of Doing Business” approach, which has significantly reduced the compliance burden, making participation in the scheme more streamlined and efficient.
The National Policy on Skill Development and Entrepreneurship, 2015 focuses on apprenticeship as one of the key components for creating skilled manpower in India.
The Pradhan Mantri National Apprenticeship Promotion Scheme (PM-NAPS) supports seamless transition from education to work, ensuring apprentices gain industry-specific skills through real-world exposure. To support both apprentices and establishments in India, 25 per cent of the stipend, up to Rs 1,500 per month per apprentice, will be provided through Direct Benefit Transfer (DBT) during the training period, provided by the Central Government.
The scheme is designed for individuals aged 14 to 35 years, ensuring inclusive access to skill development opportunities across various demographics.
The Jan Shikshan Sansthan (JSS) scheme is a community-centric skilling initiative designed to make vocational training accessible, flexible, and inclusive, particularly for women, rural youth, and economically disadvantaged groups and caters to the age group of 15 -45 years of age.
By delivering low-cost, doorstep training with flexible schedules, JSS ensures that skilling opportunities reach those who need them the most, fostering both self-employment and wage-based livelihoods.
Meanwhile, Union Cabinet approved the extension of the tenure of National Commission for Safai Karamchari (NCSK) for three more years.
The total financial implication of the extension for three years of the NCSK Commission would be approximately Rs 50.91 crore, Vaishnaw said.
The present tenure of the Commission was to end on March 31 and it has been extended up to March 31, 2028.
“It would help in facilitating socio-economic upliftment of sanitation workers, improving the working conditions in the sanitation sector and aiming to achieve zero fatalities while performing hazardous cleaning,” the Government said in a statement.
Cabinet also gave its ex-post facto approval to the retaining of Waltair rail division in truncated form and renaming it as Vishakhapatnam division, a Government press note said on Friday.
“Thus, one part of Waltair division, comprising approximately of the sections between stations Palasa-Vishakhapatnam- Duvvada, Kuneru Vizianagaram, Naupada Jn. Paralakhemundi, Bobbili Jn. Salur, Simhachalam North Duvvada bypass, Vadalapudi Duvvada and Vishakhapatnam Steel Plant Jaggayapalem (around 410 Km), will be retained as Waltair division under new South Coast Railway,” the press note said.
“It would be renamed as Vishakhapatnam division because Waltair name is a colonial legacy that needs to be changed,” it added.
According to the note, the other part of the Waltair division, comprising approximately of the sections between stations Kottavalasa Bacheli, Kuneru? Theruvali Jn., Singapur Rd.? Koraput Jn. and Paralakhemundi Gunpur (around 680 Km), will be converted into a new division with headquarter at Rayagada under East Coast Railway.
“Retention of Waltair division even in its truncated form will meet the demand and aspirations of the people of the area,” the Government said.
The Cabinet had on February 28, 2019 proposed a new zone as South Coast Railway Zone at Vishakhapatnam. (PTI)