IT Initiatives: bill to Amend indian Stamp act to be Introduced
Rs. 300 Crores Scheme to be Launched to Modernize Stamp and Registration Administration in States
The Union Budget 2011-12 proposes to amend the Indian Stamp Act. Presenting the Budget in Lok Sabha Finance Minister Pranab Mukherjee said that a bill will be introduced shortly to amend Indian StampAct, 1899.
The Minister said that while the initiatives to introduce a modern and people friendly e-stamping facility have been taken five years ago only five states have introduced this system. A new scheme with an outlay of Rs. 300 crores will be launched to provide assistance to States to modernize their stamp and registration administration and roll out e-stamping in all districts in the next three years.