The government has launched the Vivad se Vishwas-2 scheme for settling contractual disputes involving the government and government undertakings.

The move is aimed at promoting ease of doing business and will cover disputes up to September 30, 2022.

The deadline for submitting claims under the scheme is October 31.

The scheme will apply to all domestic contractual disputes where one of the parties is either the Government of India or an organisation operating under its control.

The central government is aiming to resolve approximately 500 cases, involving an estimated Rs 1 lakh crore, under this new voluntary settlement scheme, according to officials.

The one-time settlement scheme will cover cases where the court order was passed by April 30, 2023, and the arbitral order was given by January 30, 2023.

Announced in the budget, the scheme aims to resolve the government's contractual disputes with private parties.