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.

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JM
 - 
Thursday, 14 May 2020

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

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News Network
June 29,2020

New Delhi, Jun 29: A disturbing video of a Covid-19 patient, speaking his last words, after his oxygen supply was allegedly cut off, has surfaced on social media. The patient reportedly died after indicating that the oxygen supply to him was cut off despite his requests.

The video has a 35-year-old Covid-19 patient bidding good-bye to his family, from a government hospital bed in Hyderabad. The patient Ravi Kumar can be seen speaking out against the negligence of of the medical staff in providing ventilator support to him when he needed it the most.

The video has led to social media outrage as it attracted public attention towards plight of patients in government hospitals

"I am not able to breathe, I pleaded but they did not continue oxygen for the last three hours. I am not able to breathe anymore daddy, it's like my heart has stopped, Bye daddy. Bye to all, daddy," these were apparently the final words of the man, who spoke in his local dialect, and shared on social media.

Several reports have claimed that the man had been admitted to government Chest hospital, after several private hospitals refused to admit him. His ventilator support was allegedly taken off in the hospital, after which he recorded the video message.

The victim’s family shared the video message for the public to know of the negligence.

Reports have it that Ravi’s covid-19 report, which testes positive, was given to family a day after his death, when 30 of his family members performed the final rites, thus making all of them vulnerable to the virus. Ravi’s father has alleged that the test was done on June 24 and Ravi died on June 26, while the report was given to them on June 27.

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Agencies
July 2,2020

New Delhi, Jul 2: In the midst of India's tense border standoff with China, the defence ministry on Thursday approved procurement of a number of frontline fighter jets, missile systems and other platforms at a cost of Rs 38,900 crore to bolster the combat capability of the armed forces, officials said.

They said 21 MiG-29 fighter jets are being bought from Russia while 12 Su-30 MKI aircraft will be procured from Russia. The ministry has also approved a separate proposal to upgrade existing 59 MiG-29 aircraft.

The decisions were taken at a meeting of the Defence Acquisition Council (DAC) chaired by Defence Minister Rajnath Singh.

The procurement of 21 MiG-29 and upgrading of the existing fleet of MiG-29 are estimated to cost the government Rs 7,418 crore while purchase of 12 new Su-30 MKI from the Hindustan Aeronautics Ltd will be made at a cost of Rs 10,730 crore, the officials said.

The DAC also approved procurement of long-range land-attack cruise missile systems with a range of 1,000 KM and Astra Missiles for Navy and Air Force.

The officials said cost of these design and development proposals is in the range of Rs 20,400 crore.

"While acquisition of Pinaka missile systems will enable raising additional regiments over and above the ones already inducted, addition of long-range land attack missile systems having a firing range of 1000 KM to the existing arsenal will bolster the attack capabilities of the Navy and the Air Force," said a defence ministry official.

"Similarly induction of Astra Missiles having beyond visual range capability will serve as a force multiplier and immensely add to the strike capability of the Indian Navy and the Indian Air Force," he said.

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News Network
July 1,2020

New Delhi, Jul 1: 18,653 COVID-19 cases have been reported in India in the last 24 hours, taking the country's tally of coronavirus cases to 5,85,493, informed the Union Health and Family Welfare Ministry on Wednesday.

As per the Ministry, there are presently 2,20,114 active cases in the country. The number of patients cured/discharged and migrated stands at 3,47,979.

507 deaths due to COVID-19 were reported in the last 24 hours taking the total deaths due to the virus to 17,400.

According to the ministry, Maharashtra is the worst-affected state by the virus with 1,74,761 cases including 7,855 fatalities.

Tamil Nadu is the second worst-hit state with 90,167 cases including 1,201 deaths. Meanwhile, Delhi has a total of 87,360 cases.

The Indian Council of Medical Research said that a total number of 86,26,585 tested up to June 30 of which 2,17,931 samples were tested on Tuesday.

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