High Prices Take Sheen off Gold Sales on Dhanteras

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.

Washington, Jun 26: The US is reviewing its global deployment of forces to ensure it is postured appropriately to counter the People's Liberation Army, given the increasing threat posed by China to Asian countries like India, Malaysia, Indonesia, and the Philippines, Secretary of State Mike Pompeo said on Thursday.

Mr Pompeo made those remarks in response to a question during the virtual Brussels Forum 2020 of the German Marshall Fund.

"We're going to make sure we're postured appropriately to counter the PLA. We think that the challenge of our times, and we're going to make sure we have resources in place to do that," Mr Pompeo said.
 
The force posture review is being done at the direction of President Donald Trump, as part of which the US is reducing the number of its troops in Germany from about 52,000 to 25,000, he said.

Mike Pompeo said that the force posture would be dictated by the ground realities.

"In certain places there will be fewer American resources. There'll be other places - I just talked about the threat from the Chinese Communist Party, so now threats to India, threats to Vietnam, threats to Malaysia, Indonesia, South China Sea challenges, the Philippines," he said.

"To the extent that that changed, the difference in what the US decided to do impacts adversely a threat some place, it may be that other nations need to step up and take responsibility for their own defense in ways that they hadn't done previously. So, we want to do this in full consultation with all of our partners all around the world, and certainly our friends in Europe," Mr Pompeo said.

President Trump is being criticised for reducing troops from Germany. His critics say that this will increase the threat from Russia to Europe.

Mike Pompeo, however, did not agree with that argument.

It has been a long time since there has been a strategic review of our force posture all across the world. The US undertook that starting about 2.5 years ago, whether that was our forces in Africa, our forces in Asia, the force we have in the Middle East and in Europe, he said.

"We began to say these are often decisions that were made in a different time. Should we reallocate those a different way? Should we have a different composition of those forces? Everyone always wants to talk about ground troops. I get it. I was a young tank officer. You described that. There's nothing I like as much as a good M1 tank.

"But it's often the case that the capacity to deter Russia or other adversaries isn''t determined any longer by just having a bunch of folks garrisoned someplace. So, we really went to back fundamentally relook, what is the nature of the conflict, what''s the nature of the threat, and how should we allocate our resources, whether that''s our resources in the intelligence community, our resources from the Air Force or the Marines and Army," Mr Pompeo said.

Last week, Mike Pompeo criticised the Chinese Army for "escalating" the border tension with India and militarising the strategic South China Sea. He also described the ruling Communist Party of China (CPC) as a "rogue actor".

"Our broad set of allocation of security apparatus, our ability to counter cyber threats, how do we allocate them? What''s the best way to do this? And the decision that you see the president made with respect to Germany is an outcome from a collective set of decisions about how we''re going to posture our resources around the world," said the top American diplomat on Thursday.

Changes in force posture is being taken in consultations with allies and friends, Mr Pompeo said.

"President Trump has spoken to this. (Defense) Secretary (Mark) Esper will be in London today and in Brussels tomorrow. We''ll talk about our plan and how we''re thinking about delivering it," he said.

"But you should understand this, and I hope our European partners will understand this as well. When you see what we ultimately conclude, how we ultimately deliver on the statements of the president made, that they''re aimed squarely at what we believe to be democracies'' fundamental interest and certainly America's most fundamental interest," Mr Pompeo said.

Earlier this month, Mike Pompeo had said that China's actions, be it on the India border, or in Hong Kong or in the South China Sea, were part of the behaviour of the ruling Communist Party in Beijing in the recent past.

China has been fast expanding military and economic influence in the Indo-Pacific region, triggering concern in various countries of the region and beyond.

China is engaged in hotly contested territorial disputes in both the South China Sea and the East China Sea. Beijing has built up and militarised many of the islands and reefs it controls in the region. Both areas are stated to be rich in minerals, oil and other natural resources and are vital to global trade.

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New Delhi, Feb 13: Arvind Kejriwal wrote to Delhi Lieutenant Governor Anil Baijal on Wednesday, staking claim to form the government in the national capital, sources said, while hinting that the AAP might not invite senior leaders and chief ministers of other parties for the oath-taking ceremony.

The sources said it was the formal process by the AAP chief, who was elected as the legislature party leader earlier in the day, to stake claim for forming the new government.

Kejriwal, who returned to power in Delhi with a stunning poll victory on Tuesday, will take oath as chief minister for the third consecutive time on February 16.

While the oath-taking ceremony will be open to the public, the Aam Aadmi Party (AAP) was considering not inviting leaders and chief ministers of other parties as it did not wish to be seen as a "confrontationist" against the BJP-led Centre, the sources said.

They, however, added that the party was yet to take a decision on it.

The AAP has planned mobilisation of people for the mega event and all the newly-elected MLAs of the party have been asked to ensure huge participation from their constituencies.

"I request the people of Delhi to attend the oath-taking ceremony of the chief minister at the Ramlila Maidan in large numbers," senior AAP leader Manish Sisodia told reporters, adding that the ceremony will start at 10 am.

The AAP won 62 seats in the 70-member Delhi Assembly, while the Bharatiya Janata Party (BJP) bagged the remaining eight seats. The Congress drew a blank for the second consecutive time in the Delhi polls.