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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Agencies
August 5,2020

Mumbai, Aug 5: A day after the Bihar government requested for a Central Bureau of Investigation (CBI) probe into the death of Sushant Singh Rajput, the Centre has accepted the state’s request. 

The CBI, which falls under the Union Home Ministry, will now take over the probe. Solicitor General Tushar Mehta on Wednesday stated in the apex court that the Centre has accepted the request floated by the Nitish Kumar government recommending a CBI inquiry.

A bench of Justice Hrishikesh Roy observed that truth behind the 34-year-old Rajput's death should come out. "Truth should come out so far as actor's death is concerned," the SC bench said as reported by news agency.

Meanwhile, the Supreme Court is also hearing a petition filed by model-actress Rhea Chakraborty who was in a relationship with the deceased actor. In her plea, she sought the transfer of an FIR lodged in Patna by Rajput's father, K K Singh, who had accused her of abetting his suicide.

The 34-year-old actor was found hanging from the ceiling of his apartment in suburban Bandra in Mumbai on June 14.

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Agencies
July 29,2020

New Delhi, Jul 29: The new National Education Policy (NEP) approved by the Union Cabinet on Wednesday is set to usher in a slew of changes with the vision of creating an education system that contributes directly to transforming the country, providing high-quality education to all, and making India a global knowledge superpower.

The draft of the NEP by a panel headed by former Indian Space Research Organisation (ISRO) chief Kasturirangan and submitted to the Union Human Resource Development Minister Ramesh Pokhriyal when he took charge last year. The new NEP replaces the one formulated in 1986.

Some of the key highlights of the New Education Policy are:-

The policy aims to enable an individual to study one or more specialized areas of interest at a deep level, and also develop character, scientific temper, creativity, spirit of service, and 21st century capabilities across a range of disciplines including sciences, social sciences, arts, humanities, among others.

It identified the major problems facing the higher education system in the country and suggested changes such as moving towards multidisciplinary universities and colleges, with more institutions across India that offer medium of instruction in local/Indian languages, a more multidisciplinary undergraduate education, among others. 

The governance of such institutions by independent boards having academic and administrative autonomy has also been suggested.

Under the suggestions for institutional restructuring and consolidation, it has suggested that by 2040, all higher education institutions (HEIs) shall aim to become multidisciplinary institutions, each of which will aim to have 3,000 or more students, and by 2030 each or near every district in the country there will be at least one HEI.

The aim will be to increase the Gross Enrolment Ratio in HEIs including vocational education from 26.3 per cent (2018) to 50 per cent by 2035.

Single-stream HEIs will be phased out over time, and all will move towards becoming vibrant multidisciplinary institutions or parts of vibrant multidisciplinary HEI clusters.

It also pushes for more holistic and multidisciplinary education to be provided to the students.

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News Network
January 10,2020

New Delhi, Jan 10: An IPS officer's thumb was bitten by a woman protester when he was pushing back agitators, who were trying to march towards the Rashtrapati Bhawan here on Thursday, police sources said.

The protesters had gathered after a call was given by JNU Students' Union president Aishe Ghosh to march towards President's House to demand the removal of University's Vice Chancellor, M Jagadesh Kumar.

Ingit Pratap Singh, a 2011 batch officer, who is currently posted as the additional deputy commissioner of the southwest district, was injured in the attack.

According to sources, Singh was trying to pull a male protester when the woman, in a bid to shield her friend, bit Singh's left thumb.

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