11 May 2016 Current Affairs GK: Parliament has passed the Industries (Development and Regulation) Amendment Bill, 2015 after with the Lok Sabha adopted certain amendments made by the Rajya Sabha. The Bill seeks to amend the Industries (Development and Regulation) Act, 1951 that provides for development and regulation of certain industries.
The Bill seeks to transfer from the Centre to states the control over industries engaged in the production of potable alcohol. It seeks to amend a schedule in the parent Act to exclude production of alcohol for potable purposes. It empowers central government to formulate policy and regulate foreign collaboration for all products of fermentation industries, including industrial and potable alcohol.
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