In a little over one week the UK will stop accepting visa applications under the Tier 1 (General) Visa of the Government's points based immigration system. 5 April 2011 is the last day that you will be able to apply under the Tier 1 (General) Visa Scheme. The Tier 1 (General) Visa allows highly skilled individuals to immigrate to the UK without a job offer if they score enough points under various criteria such as age, past earnings, and qualifications.
The removal of the Tier 1 (General) Visa category is part of the UK's overall plan to reduce net immigration. A new Tier 1 'Exceptional Talent' visa will take its place and will be capped at 1,000 visas per year. Most prospective highly skilled immigrants will find it almost impossible to qualify for the new Tier 1 Exceptional Talent Visa scheme.
The UK has already ramped down the Tier 1 (General) visa scheme by only allowing people already within the UK to apply. For example, if you wish to switch from the Tier 2 Visa for skilled workers to the Tier 1 (General) Visa from within the UK you can do so but if you are currently a resident of India or any other Country you would not be allowed to apply under Tier 1 (General).
With that said, if you are lawfully living within the UK who may still wish to consider applying under Tier 1 (General) before the scheme ends. Otherwise, in future to stay in the UK you will need to apply to live and work in the UK under a different scheme, such as the Tier 2 Visa which requires a job offer from a British employer.