Now, restaurants and malls will remain open 24/7
The Union Cabinet has approved a model Shops and Establishments Act 2016 that would allow cinema halls, restaurants, shops, banks and other such workplaces to remain open for 24/7, sources said.
The bill will allow women to work during night time in such offices with mandatory cab services and other workplace facilities for them.
The bill has proposed to cover all premises, barring factories, or shops with work related to printing, banking, insurance, stocks and shares, brokerage or theatres, cinema and "any other public amusement" which is currently not covered under the Factories Act 1948, Business Standard reported on Wednesday.
All such units which employee 10 or more workers are proposed to come under this Act, it said.
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After the Cabinet Committee of Economic Affairs (CCEA) approved the Shops and Establishment Act, the stocks of leading retail companies surged in the upward movement in the afternoon trade on the Bombay Stock Exchange (BSE) on Wednesday.
At 13:47 hours, the stock of Shoppers Stop was trading up 5.76% or Rs 20.85 at Rs 383.00 on the BSE.
At 13:47 hours, the shares of Future Lifestyle Fashions were trading up 2.86% or Rs 3.50 at Rs 125.75 per scrip on the exchange.
At 13:49 hours, the stock of Store One Retail India was trading up 6.49% or Rs 9.90 at Rs 162.35 on the BSE.
At 13:31 hours, the shares of V2 Retail were trading up 4.96% or Rs 2.75 at Rs 58.20 per scrip on the exchange.
At 13:51 hours, the stock of Trent was trading up 1.69% or Rs 29.90 at Rs 7,798.00 on the BSE.