The Union Budget, 2023, was tabled by Finance Minister Nirmala Sitharaman in Parliament on Wednesday, February 1, 2023. The Budget envisages important steps in the field of dispute resolution. The measures in the Budget in relation to disputes are a clear indication of the Government’s intent to reduce the burden of pending proceedings in Court, make access to justice easier and inexpensive, increase the faith of investors in arbitration as a dispute resolution mechanism and change the reputation of the Government as the biggest litigant in India. The Government also appears to be intent to take a common-sense approach to litigation – providing for a voluntary settlement scheme (presumably for disputes under a particular value as also those pending for a long duration to avoid costs of litigating such cases and also reducing the burden on Courts). In this article, we set out some important developments and analyse their impact on the disputes landscape in India.
Source: Barandbench
