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Strategic Partnership of India & ASEAN relies on our shared historic, geographical & cultural heritage. ASEAN has at all times been the core of our Act East Coverage
– PM Modi
It is of prime significance for us to enhance bodily, financial, societal, digital, monetary & maritime connections b/w India & ASEAN
– PM Narendra Modi
India, Russia planning to export BrahMos supersonic cruise missile to Philippines, a number of different international locations
– Russian Deputy Chief of Mission Roman Babushkin
Movie actor Asif Basra was discovered hanging in a personal advanced in Dharamshala, stories ANI
Forensic group is on the spot and police is investigating the matter: SSP Kangra Vimukt Ranjan.
Sino-India border standoff in jap Ladakh anticipated to be resolved peacefully quickly
– ITBP chief
Sure Financial institution case: Rana Kapoor’s daughter Roshni will get bail
A Justice of the Peace court docket on Thursday granted bail to Sure Financial institution founder Rana Kapoors daughter Roshni Kapoor, an accused within the Sure Financial institution fraud case linked to DHFL, after she appeared earlier than the court docket in response to summons issued to her.
Wage invoice of listed corporations may very well be up by 3-4% in first half of this fiscal: CMIE
“Quarterly monetary statements of listed corporations point out a considerable deterioration of employment circumstances through the first half of 2020-21,” CMIE stated in its weekly evaluation. Within the first quarter of 2020-21, which led to June 2020, the nominal wage invoice for listed corporations was up by 2.2%, the bottom year-on-year improve.
Wipro to interchange present construction of assorted strategic items
Firm to have 4 strategic market items, 2 world enterprise strains. New working mannequin & construction efficient Jan 1, stories ET Now quoting businesses.
IREDA sanctions loans price Rs 12,696 crore in 2019-20
The Indian Renewable Vitality Improvement Company Ltd (IREDA) has sanctioned loans price Rs 12,696 crore and has disbursed Rs 8,785 crore, supporting capability addition of 5,673 MW throughout 2019-20, a Ministry of New & Renewable vitality assertion stated.
Rupee settles 28 paise decrease at 74.64 (provisional) in opposition to US greenback
Gold good points on ebbing vaccine optimism, stimulus bets
Google Maps to introduce ‘Journeys’ tab to remind of earlier holidays
Google Maps will quickly roll out a brand new Journeys tab in timeline on Android that may current prospects an summary of earlier holidays and full kilometres travelled.
Indian Navy’s fifth Scorpene class submarine Vagir launched
What’s there for building and infrastructure sector?
- Rest of earnest cash deposit (EMD) and efficiency safety on authorities tenders.
- Efficiency safety on contracts to be lowered to three% as a substitute of 5 to 10%.
- Additionally, EMD won’t be required for tenders.
What’s there for homebuyers?
- Differential between circle price and settlement worth elevated from 10 to twenty%, until thirtieth June 2021.
- That is just for main sale of residential items of worth as much as Rs 2 crore.
- Until now, solely 10 per cent distinction between the circle price and the settlement worth was allowed.
What’s there for farmers?
- Rs 65,000-crore fertilizer subsidy for farmers
- Further outlay of Rs 10,000 crore for PM Garib Kalyan Rozgar Yojana
- Rs 3,000 crore might be launched to EXIM Financial institution for promotion of ‘Mission Exports’
Proposals from 21 states sanctioned underneath PM Matsya Sampada Yojana
Disbursed Rs 25,000 crore as a particular facility to farmers via NABARD. Complete Rs 2.05 Lakh crore sanctioned to 61 lakh debtors underneath ECLGS Scheme.
Atmanirbhar Bharat Rozgar Yojana for job creation
- To incentivise creation of recent employment alternatives through the COVID restoration section.
- The Atmanirbhar Bharat Rozgar Yojana might be relevant for eligible new staff becoming a member of EPFO-registered institutions and for many who exited these institutions through the COVID pandemic.
10 Champion sectors underneath PIL
- Advance Chemistry Cell (ACC) battery (Rs 18,100 crore)
- Electronics and expertise merchandise (Rs 5,000 crore)
- Vehicles and auto parts (Rs 57,042 crore)
- Prescribed drugs and medicines (Rs 15,000 crore)
- Telecom and networking merchandise (Rs 12,195 crore)
- Textiles merchandise (Rs 10,683 crore)
- Meals merchandise (Rs 10,900 crore)
- Excessive-efficiency photo voltaic PV modules (Rs 4,500 crore)
- White items (Rs 6,238 crore)
- Specialty metal (Rs 6,322 crore)
A abstract of stimulus measures introduced until date
The scale of the stimulus being offered by the federal government, as a part of the 12 bulletins made in the present day underneath Aatmanirbhar Bharat 3.0, quantities to Rs 2.65 lakh crores. 15% of nationwide GDP as stimulus takeaway
– FM Nirmala Sitharaman
Rs 10,200 crore further finances outlay might be offered in direction of Capital and industrial expenditure
– MoS Finance Anurag Thakur
R&D Grant Covid Vaccine Improvement
- Rs 900 crore is being offered to DBT India for analysis actions associated to COVID19 vaccine improvement
- This doesn’t embody price of vaccine or logistics for vaccine distribution
Rs 10,200 crore is being moreover offered in direction of capital and industrial expenditure: FM
Quantity might be spent in direction of home defence gear, industrial incentives, industrial infrastructure, and inexperienced vitality.
Enhance for challenge exports
- Rs 3,000 crore to be given to EXIM Financial institution for promotion of challenge exports via line of credit score underneath IDEAS scheme
- About 811 export contracts amounting to $10.50 billion being financed underneath LoCs
Further outlay of Rs 10,000 crore is being offered for PM Garib Kalyan Rozgar Yojana: FM
Funds can be utilized for MGNREGA or for Gram Sadak Yojana, will assist speed up the agricultural economic system.
Rs 65,000 crore fertilizer subsidy might be offered to farmers: FM
Fertilizer consumption goes up considerably, an elevated provide of fertilizers will make sure that forthcoming crop seasons won’t be affected for need of enough fertilizers: FM
Infusion of Fairness in NIIF
- Infusion Of Fairness In NIIF Rs 6,000 crore fairness infusion might be completed in NIIF debt platform for funding infrastructure
- Personal fairness participation to additionally are available; NIIF has itself invested Rs 2,000 crore
- Debt platform has a mortgage guide of Rs 8,000 crore and deal pipeline of Rs 10,000 crore
Tax aid for builders and residential consumers in Stimulus 3.0
- Revenue tax aid might be offered to twenty% of differential between circle price and settlement worth elevated from 10%
- This might be relevant on main sale of residential items of worth as much as Rs 2 crore
- 43CA of IT Act restricts differential between circle price and settlement worth
Demand booster for Residential Actual Property Revenue Tax aid for Builders and Residence Consumers
Help for Building & Infrastructure- Rest of EMD & Efficiency Safety on Authorities Tenders
- EMD won’t be required for tenders and might be changed by Bid Safety Declaration
- Relaxations might be given until 31.12.2021 underneath Normal Monetary Guidelines
- Will give aid to contractors by lowering locking up of capital and price of BG
Help for Building & Infrastructure- Rest of Earnest cash Deposit (EMD) & Efficiency Safety on Authorities Tenders
- Will likely be prolonged to ongoing contracts that are freed from disputes
- May also be prolonged to Public Sector Enterprises
- States might be inspired to undertake the identical
PLI Scheme for 10 champion sectors
ECLGS 2.0: Assured credit score for supporting harassed sectors
The monetary outlay for the brand new scheme might be Rs 1,45,980 crore: FM
The federal government on Wednesday authorised a Manufacturing-Linked Incentive (PLI) scheme for ten key sectors, together with telecom, cars and prescribed drugs, taking the overall outlay for such incentives to almost Rs 2 lakh crore over a five-year interval.
– FM Nirmala Sitharaman
For two years the Central authorities pays for:
- Corporations with over 1000 staff: Govt to pay staff EPF contribution of 12%
- Corporations with as much as 1000 staff: Govt to pay worker’s and employer’s contribution to EPF of 12% every
- Staff should seed Aadhaar with EPFO account
Rs 3 lakh cr current ECLGS
Nirmala Sitharaman declares that the Emergency Credit score Line Assure Scheme has been prolonged until March 31, 2021.
Subsidy help from Central Govt
Atmanirbhar Bharat Rozgar Yojana
- The scheme is being launched to incentivise the creation of recent employment alternatives through the Covid-19 restoration section.
- This might be efficient from Oct. 1, 2020, for the following two years.
- These corporations using 1000 or much less will even get lined.
- Tough estimate – 65% of all these within the formal sector will come underneath this.
Advantages underneath the brand new scheme:
- – Any new worker becoming a member of employment in EPFO registered institutions on month-to-month wages lower than Rs 15,000
- – EPF members drawing month-to-month wages of lower than Rs 15,000 who made exit from employment through the Covid-19 pandemic from March 1 to Sept. 30 and is employed after Oct. 1
EPFO registered organisations to get advantages on recruiting new individuals who did not have EPFO earlier than or those that misplaced their jobs between March 1 and September 30: FM
Enhance for employment
FM Sitharaman lists 12 measures underneath the third leg of the self-reliance scheme
Over and above this, Bihar proposes to spend Rs 450 crore in direction of capex: FM
Atmanirbhar Bharat 2.0
- Competition advance launched
- LTC voucher schemes launched
- Further capital expenditure given to Ministry of Highway Transport & Defence Ministry
- 11 States sanctioned Rs 3621 crores as interest-free mortgage in direction of capital expenditure
Rs 1,32,800 crores given to 39.7 lakh assessees as Revenue tax refunds: FM
Progress report of Atmanirbhar Bharat 2.0
The primary tranche of the Atmanirbhar marketing campaign was about stimulus to assist the poor and needy of the nation.
– Nirmala Sitharaman, FM
Sensex down 400 factors
On the ECLG Scheme, Rs 2.05 lakh crore has been sanctioned to 61 lakh debtors with whole disbursals made at Rs 1.52 lakh crore: FM
Work has commenced on making a devoted portal for migrant staff: FM
Progress of Aatmanirbhar Bharat 1.0
21 states have despatched proposals, and Rs 1681 crore sanctioned underneath the PM Matsya Sampada scheme: FM
FM outlines progress of Atmanirbhar Bharat Abhiyaan 1.0
- One Nation One ration scheme: Interstate portability of ration playing cards on, protecting 68.6 cr beneficiaries. Intrastate portability additionally enabled in 28 states. 1 crore transactions are occurring every month.
- PM SavarNidhi scheme: Protection for avenue distributors now in 30 states. Over 26 lakh mortgage functions obtained.
- Portal for migrant staff being created.
RBI predicts a powerful probability of the Indian economic system returning to optimistic progress in Q3: 2020-21, forward by 1 / 4 of the sooner forecast.
– FM Nirmala Sitharaman
Banks have additionally sanctioned a restrict of 1,43,262 crores, in two phases: FM
Credit score increase to 2.5 crore farmers via Kisan Credit score Playing cards: FM
Up to now, over 183 lakh functions have been obtained. Banks have issued KCC for over 150 lakh farmers: FM