Finance Minister announces Rs 3 lakh crore collateral free automatic loan for businesses

Agencies
May 13, 2020

New Delhi, May 13: Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral-free automatic loan for businesses, including MSMEs.

This will benefit 45 lakh small businesses, she said detailing parts of the Rs 20 lakh crore economic stimulus package.

The loan will have 4-year tenure and will have a 12-month moratorium, she said.

Also, Rs 20,000 crore subordinated debt will be provided for stressed MSMEs, she said adding this would benefit 2 lakh such businesses.

The Finance Minister said a fund of funds for MSME is being created, which will infuse Rs 50,000 crore equity in MSMEs with growth potentials.

Also, MSME definition has been changed to allow units with investment up to Rs 1 crore to be called micro-units in place of Rs 25 lakh now.

Also units with turnover up to Rs 5 crore to be called micro-units, she said, adding a turnover based criteria is being introduced to define small businesses.

The investment and turnover limits for small and medium businesses have likewise been raised to allow them to retain fiscal and other benefits, she said.

Global tenders will be banned for government procurement up to Rs 200 crore, she said, adding this would help MSMEs to compete and supply in government tenders.

Comments

JM
 - 
Thursday, 14 May 2020

Fully automatic loan..... not reachable to poor needy......

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News Network
March 3,2020

New Delhi, Mar 3: A day after two new cases of novel coronavirus that included one from Delhi were reported, the Health Ministry on Tuesday said six cases with "high-viral load" were detected during sample testing in Agra and these people have been kept in isolation. The six people had come in contact with a 45-year-old patient from Delhi, whose case came to light on Monday, and they include his family members.

According to government sources, the man, who is a resident of Mayur Vihar, had visited them in Agra.

The six have been kept in isolation at Safdarjung Hospital in Delhi and their samples are being sent to NIV, Pune for confirmation.

Contact tracing of the people who came in contact with the six is simultaneously being done through the Integrated Disease Surveillance Program (IDSP) network, the ministry said in a statement.

Sources said the patient from Mayur Vihar was shifted to a quarantine ward at Safdarjung Hospital on Sunday night.

His other family members have been asked to stay alert and look out for symptoms. One accountant, who came in contact with the man and some of his family members, was also quarantined, they said.

India on Monday reported two new cases of the novel coronavirus, one from Delhi and another one from Hyderabad. The government has stepped up its efforts to detect and check the infection which has killed 2,912 people in China.

On Monday, Rajasthan Health Minister Raghu Sharma had said that an Italian tourist tested positive for coronavirus in Jaipur.

The first sample collected from him on February 29 tested negative but his condition deteriorated, so a second sample was collected which tested positive on Monday, the minister said, adding, "Since there is a variation in the reports, the samples have been sent to the NIV, Pune for testing".

India had earlier reported three cases from Kerala, including two medical students from Wuhan in China, the epicentre of the deadly novel coronavirus. They had self-reported on their return to the country and tested positive for the infection. They were discharged from hospitals last month following recovery.

The infected person from Delhi had travelled to Italy, while the other patient who tested positive for the COVID-19 infection is from Telangana and had recently travelled to Dubai.

Both the patients had self-reported after they developed symptoms.

"They tested positive. They are stable and being closely monitored," ministry said on Monday.

The government has asked people to avoid non-essential travel to Iran, Italy, South Korea and Singapore and said India was in discussions with authorities in Iran and Italy, two countries badly affected by the infection, to evacuate Indians there.

The novel coronavirus or COVID-19, which originated in China, has spread to over 60 countries.

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News Network
March 7,2020

Mar 7: Two Malayalam news channels, Asianet News and Media One, which were banned by the information and broadcasting ministry for their coverage of the recent violence in Delhi on Friday evening, were allowed to resume telecasting on Saturday morning.

While Asianet News appeared to have begun operations around 7am on Saturday, Media One was screening content by 9.30am.

The ministry of information and broadcasting had imposed a 48-hour ban on Asianet News and Media One for their coverage of the Delhi violence for 48 hours from 7.30pm on Friday. Both Asianet News and Media One were barred under Rule 6(1 c) and Rule 6(1e) of the Cable Television Networks Act, 1994.

The ministry of information and broadcasting alleged Asianet News and Media One were "biased" and critical of the RSS and Delhi Police.

The ban on Asianet News and Media One triggered a torrent of criticism of the move. Congress MP Shashi Tharoor asked how "Malayalam channels inflame communal passions in Delhi?" and alleged some English news channels were continuing "their brazen distortions" with impunity.

In a statement issued on Friday after the ban, Media One termed the move "unfortunate and condemnable" and called it a "blatant attack against free and fair reporting". Media One called it "an order to stop free and fair journalism".

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Agencies
July 13,2020

New Delhi, Jul 13: Top Congress leaders, including Rahul Gandhi and Priyanka Gandhi, are in touch with Sachin Pilot and are trying to placate him, a day after the Rajasthan Deputy CM declared open rebellion against Chief Minister Ashok Gehlot, sources said on Monday.

Pilot has claimed that the Ashok Gehlot government is in minority and that he has the support of over 30 MLAs in the 200-member Assembly.

According to sources, top Congress leaders have talked to Pilot and have asked him not to rebel against the chief minister. They also assured him that his grievances would be redressed at the party level.

For latest updates on Rajasthan political crisis, click here

Besides Rahul Gandhi and Priyanka Gandhi, other Congress leaders who are learnt to have spoken with Pilot are Ahmed Patel, former Union finance minister P Chidambaram and AICC general secretary K C Venugopal.

It was not immediately known what transpired during the discussions.

Sources said the leaders asked Pilot to attend a Congress Legislature Party meeting in Jaipur, but he has not given any assurance.

Pilot, who is in Delhi, has not been taking calls of many party leaders. AICC general secretary in-charge for Rajasthan Avinash Pande has said that Pilot has not been responding to calls and messages have been left with him.

Pilot has raised a banner of revolt against Gehlot after the special operations group (SOG) of Rajasthan Police sent a notice to him for appearing before it in the case involving "horse-trading" of MLAs in the state.

The SOG has registered an FIR in this regard and has also sent notices to the chief minister, chief whip of Congress and some ministers and MLAs.

Meanwhile, Congress has pulled out all the stops to save its government in Rajasthan and CM Gehlot has convened a meeting of the state legislature party.

Pilot, who is also the state Congress president, is miffed with Gehlot and has alleged that he was not being kept in the loop on key decisions.

The Congress Legislature Party meeting began about three hours later than scheduled, with ministers and MLAs flashed victory signs for the cameras.

The Congress said 109 MLAs have already expressed support for Chief Minister Ashok Gehlot, rejecting the claim by Deputy Chief Minister and the party’s state unit president Sachin Pilot that the senior leader does not have the majority.

About 100 MLAs had walked into the chief minister’s residence by 12.30 pm, an hour before the meeting actually started.

But some MLAs considered close to Pilot had not arrived till then. 

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