What is the name of the scheme launched by the Government of India in 2023 to effectively resolve pending contractual disputes?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. Vivad se Vishwas II.
The scheme launched by the Government of India in 2023 to effectively resolve pending contractual disputes is called “Vivad se Vishwas II – Contractual Disputes”. It aims to promote ease of doing business by facilitating the timely and amicable settlement of long-standing disputes involving government and public sector undertakings (PSUs). The scheme provides a voluntary settlement mechanism where contractors can receive a percentage-based settlement of their claims, thus avoiding prolonged litigation and arbitration. It is especially beneficial for infrastructure and construction sectors. “Vivad se Vishwas II” reflects the government’s commitment to creating a more efficient and business-friendly environment in India.