Finance Minister Nirmala Sitharaman on Tuesday held a review meeting on credit guarantee scheme with heads of public sector banks, and asked them to expedite loan disbursement under the Rs 3-lakh crore ECLGS for MSME sector, hit hard by coronavirus-induced lockdown. The meeting on Emergency Credit Line Guarantee Scheme (ECLGS) was held through video conference, and the minister appreciated the efforts of banks in execution of the scheme.
Referring to visible indicators of green shoots, the finance minister said the forex reserve is at an all time high and the stock market is upbeat.
In a major boost for Chennai Super Kings and Rajasthan Royals -- the two teams who are making a comeback after serving a two-year ban -- they will be allowed to pick from the players, who turned out for Rising Pune Supergiants and Gujarat Lions squad in IPL in season 10.
A notification issued by the railway board in the evening said new fares would come into effect from May 5.
in the longer run, there is no substitute for a standard term, accident, and a comprehensive health cover, with adequate sum insured that will give you round-the-clock and year-after-year coverage.
The AIMTC supports the farmers as 65 per cent of the trucks are engaged in carrying farm produce.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
Telecom regulator Trai on Monday recommended about 39 per cent reduction in the reserve or floor price for the sale of spectrum for mobile services, including the latest 5G offering, as it looked to match revenue expectations with the industry's paying capacity. With large swathes of spectrum remaining unsold in the last two auctions, the Telecom Regulatory Authority of India (Trai) recommended to the government for selling airwaves in all existing bands of 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz and new slots of 600 MHz, 3300-3670 MHz and 24.25-28.5 GHz. It has suggested a lower reserve price for all bands, compared to the prices proposed in the previous recommendations in 2018.
The SME segment has been grappling with lack of liquidity and lacklustre institutional participation.
The 'restore old pension' campaign is being spearheaded by the National Movement for Old Pension Scheme (NMOPS), a federation with over 13 lakh government employees as its members.
This provision is a very smart rule against fraudster and would not affect any genuine business entities or Ease of Doing Business in any manner, said a source.
The Reserve Bank on Friday retained the GDP forecast for the current financial year at 9.5 per cent and flagged global semiconductor shortages, elevated commodity prices and potential global financial market volatility as downside risks to economic growth. In his address after the three-day meeting of the rate-setting panel, RBI Governor Shaktikanta Das said recovery in aggregate demand gathered pace in August-September, and it is reflected in high-frequency indicators, like railway freight traffic; port cargo; cement production; electricity demand; e-way bills; GST and toll collections. "The ebbing of infections, together with improving consumer confidence, has been supporting private consumption," he said, and added the pent-up demand and the festival season should give further fillip to urban demand in the second half of the financial year.
Currently on display at the National Gallery of Modern Arts, a total of 2,772 gifts including head gears, shawls, portraits, swords gifted by different organisations and chief ministers to the PM will be up for the auction on an online portal designed by the National Informatics Centre.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Ghanwat, also a senior leader of Shetkari Sangathan, said he will mobilise one lakh farmers and bring them to Delhi in the next couple of months demanding farm reforms.
The report Air Quality and Health in Cities combined ground-based air quality data with satellites and models to produce air quality estimates for cities around the world.
He said there used to be mutual respect between the government and the opposition, which is diminishing.
Sebi has now said any default of payments of interest or principal on loans taken from financial institutions, including banks, will have to be disclosed if it continues beyond 30 days.
Punjab Chief Minister Amarinder Singh on Friday announced job for a member of the family of each farmer from the state who died during the agitation against the Centre's new farm laws.
The move comes after the Punjab assembly earlier this month adopted a resolution against the farm laws and unanimously passed four bills to counter the Centre's contentious legislations.
At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.
Finance Minister Nirmala Sitharaman on Monday said the government is planning to extend the suspension of fresh insolvency proceedings for another three months, a move which will provide major relief to corporate borrowers hit by the coronavirus pandemic. Addressing the Bangalore Chamber Of Industry And Commerce (BCIC), she said the government has taken several measures, including deferment of tax payment date, to help businesses and people.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
One of the changes being proposed is allowing LLPs to issue non-convertible debentures.
All costs relating to room, boarding, nursing expenses, medical consultation including telemedicine, consumables such as PPE kits and intensive care unit will be covered under the policy. It will also include the cost of treatment for any other co-morbidities, including pre-existing comorbid conditions along with the treatment for Covid-19.
'There will be more than three to four lakh tractors and farmers, four to five times that number, displaying their resolve in front of a deaf, mute and a government blind to their plight.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'Both of us are not politicians. We were forced to enter politics to counter corruption that is looting the country.'
Pune-based Serum Institute of India (SII) is sitting on 200 million doses of Covishield that were manufactured in December and are set to expire in September. The company is likely to destroy these vaccines if nothing works out, Sohini Das reports.
'The banks cannot pass on the hike in premiums to its customers, according to the norms. The premium won't go up substantially in any case and may be hiked to 12-13 paise (per deposit of Rs 100 a year),' Finance Secretary Rajiv Kumar said.
The recent protests by employees of Urban Company and the case of a a Zomato delivery executive who died in a road accident point to the severely straitened condition of gig workers during the ongoing Covid-19 pandemic. Budget 2021 had promised several measures to help the cause of gig economy workers, but most of them are yet to see the light of day. Even after a year, the country's gig workers continue to be without any social security cover or a minimum wage guarantee. "In Budget 2021, finance minister Nirmala Sitharaman had announced that the government is looking toward including migrant and gig workers for social security benefits," says Srinivas Kotni, managing partner, Lexport, a consulting firm. Parliament had passed the Code on Wages in 2019 and Code on Industrial Relations, Social Security and Occupational Safety, Health and Working Conditions in 2020.
Criticising various provisions in the proposed GST regime, Moily said it will be a "technological nightmare" and the anti-profiteering provisions in it are "far too draconian."
The party released its manifesto -- Samajwadi Vachan Patra -- for the coming assembly elections, shortly after the BJP released its own.
Default on repayments from March 25, the day when the nationwide lockdown began to curb coronavirus infections, would not be considered for initiating insolvency proceedings for at least six months.
'Unless we see four weeks of low and stable numbers with only minor fluctuations, we cannot call the valley as endemic just as yet'
The Ministry of Corporate Affairs has decided to relax the norms for companies to maintain minimum paid-up capital. According to the Companies Act 1956, the minimum paid-up capital for a private company is Rs 1 lakh and for a listed company Rs 5 lakh.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The lock-in would be for a period of six months.
'With over 50 per cent of medical seats reserved for those who have the ability to pay a fee ranging from Rs 50 lakh to Rs 1.5 crore for a five-year MBBS course and quotas in accordance with affirmative policies in government colleges, the band of seats available for the not-so-rich and non-OBCs is very narrow.'
