Model Tenancy Act gets green light from Union Cabinet
The Union cabinet approved the Model Tenancy Act on Wednesday. Now this will be disseminated among states and Union Territories for adoption through the enactment of new legislation or the appropriate amendment of existing rental laws.
“This will help reshape the legal framework for rental housing across the country, which will help boost its overall growth,” the government said in a statement. In addition, he mentioned that this law aims to create a dynamic, sustainable and inclusive rental housing market in the country. It will allow the creation of an adequate rental housing stock for all income groups, thereby addressing the problem of homelessness.
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It will allow the institutionalization of rental housing by gradually moving it to the formal market in addition to facilitating the release of vacant housing for rental housing purposes. “This should give a boost to private participation in rental housing as a business model to deal with the huge housing shortage,” the statement said.
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MoC with Japan
The Cabinet also approved an agreement, a Memorandum of Cooperation (MoC) and two Memoranda of Understanding (MoU).
The MoC with Japan focuses on sustainable urban development. It will replace the existing MoU of 2007. “The MoC will promote strong, deep and long-term bilateral cooperation in the field of sustainable urban development between the two countries,” the statement said.
He also said that a Joint Working Group (JWG) will be formed to strategize and implement cooperation programs within the framework of the cooperation. The group will meet once a year, alternately in Japan and India. The cooperation will continue for a period of five years. Subsequently, it can be renewed by tacit agreement for new successive periods of five years at a time.
The Cabinet gave its ex post approval for the signing and ratification of an Agreement on “Cooperation in the Field of Mass Media” among all member states of the Shanghai Cooperation Organization. The agreement was signed in June 2019.
“The Agreement will promote equal and mutually beneficial cooperation between associations in the field of mass media. Each party must, on the basis of reciprocity, facilitate the activities, thus ensuring fairness, ”the government statement said, adding that this would provide member states with an opportunity to share best practices and new innovations in the field. medias.
The Cabinet also gave the green light to a memorandum of understanding between India and the Argentine Republic on cooperation in the field of mineral resources. It will provide an institutional mechanism for cooperation in this area.