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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
March 4,2020

Mumbai, Mar 4: BJP leader Devendra Fadnavis on Tuesday said Maharashtra Chief Minister Uddhav Thackeray should not give "vague" replies on the 5 per cent Muslim quota issue and declare "with courage" that his government will not bring law granting reservation to the minority community.

Mr Fadnavis made the remark after Mr Thackeray, during a press conference earlier in the day, said he has not yet received the proposal regarding giving quota to Muslims and that the Shiv Sena-led government is yet to take any decision on it.

Mr Thackeray made the comments after Maharashtra Minority Affairs Minister Nawab Malik recently said in the legislative council that thestate government will provide 5 per cent quota to Muslims in education.

Mr Malik, an NCP leader, had also said the state government will ensure that a legislation to this effect is passed soon.

The NCP and the Congress, both proponents of Muslim quota, are constituents of the Sena-led Maha Vikas Aghadi government.

Asked about Mr Thackeray's remarks on the issue, Mr Fadnavis said instead of making comments at the press conference, the chief minister should make a statement in the legislature which is currently having its budget session.

The Leader of the Opposition in the assembly said that Mr Malik's opinion is the official position of the government as the minister had talked about giving quota in the council.

"So, instead of making vague comments in the press conference, the chief minister should say in the council that it is not his view (the one expressed by chief minister).

"The chief minister gave vague answers during the press conference, saying the proposal has not come to him. Your minister (Malik) only has said it," Mr Fadnavis told reporters outside the legislature building complex.

The BJP leader maintained there is no provision in the Constitution for religion-based reservation in government jobs or education.

"Say with courage that you will not give the quota, that the Constitution doesn't accept quota based on religion. Hence, we (the government) will not bring law granting quota," the former Chief Minister said.

Mr Fadnavis claimed that if given within the 50 per cent ceiling set by the Supreme Court, the Muslim quota will affect the existing reservation granted to OBCs.

"And if given outside it, it will affect Maratha quota," he added.

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News Network
August 8,2020

The Kozhikode International Airport located at Karipur is not safe for the landing of flights in rainy season, according to an air-safety expert, who had warned the aviation ministry and the civil aviation regulator about this in 2011. 

The warning was particularly about the dangers of permitting passenger aircraft to land on runway 10 of the airport during rains and unfavourable wind conditions. 

Nine years later, on August 7, 2020, the warning became a reality when an Air India Express pilots landed in tailwind conditions and the aircraft overshot the tabletop runway to drop off the end and crash.

 “An aircraft landing on runway 10 in tailwind will experience poor braking action due to heavy rubber deposits … All such flights … are endangering the lives of all on board,’’ said Capt Mohan Ranganathan, in a letter sent on June 17, 2011 to then director general of civil aviation Bharat Bhushan and Nasim Zaidi, chairman of a civil aviation safety advisory committee, which was formed after the May 2010 Mangaluru air crash which killed 158 people.

“My warning issued after the Mangaluru crash was ignored. It is a table-top runway with a down slope. The buffer zone at the end of the runway is inadequate,” Capt Ranganathan said. Given the topography, he pointed out, the airport should have a buffer of 240m at the end of the runway, but it only has 90m (which the DGCA had approved). “Moreover, the space on either side of the runway is only 75m instead of the mandatory 100m,” he added.

Capt Ranganathan said there is no guideline for operations on a table-top runway when it is raining. “Runway 10 approach should not be permitted in view of the lack of runway end safety area (RESA) and the terrain beyond the end of the runway. RESA of 240m should be immediately introduced and runway length has to be reduced to make the operations safe,” his letter said.

If an aircraft is unable to stop within the runway, there is no RESA beyond the end. The ILS localiser antenna is housed on a concrete structure and the area beyond is a steep slope. “The Air India Express accident in Mangalore should have alerted AAI to make the runway conditions safe. We have brought up the issue of RESA during the initial Casac-sub group meetings. We had specifically mentioned that the declared distances for both runways have to be reduced in order to comply with ICAO Annex 14 requirement,” Capt Ranganathan said.

He said the condition of the runway strip was known to DGCA teams that have been conducting inspection and safety assessments. “Have they considered the danger involved? Did the DGCA or the airlines lay down any operational restrictions or special procedures?”

The letter also refers to Approach and Landing Accident Reduction (ALAR) training, which is supposed to be mandatory before every monsoon, but airlines don’t follow it, he said. “70% of accidents take place during approach and landing and that is why this training is essential,” he added.

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News Network
March 25,2020

Mumbai, Mar 25: Maharashtra Health Minister Rajesh Tope on Wednesday confirmed that five people from a family in Sangli and four others from Mumbai tested positive for coronavirus, taking the total count to 116, which is the highest in any state of the country.
"The current count of COVID19 patients in the state of Maharashtra is 116. In Sangli, 5 people from one family are identified as positive due to contacts and 4 people from Mumbai are identified as positive due to travel history or contacts," Tope tweeted.
The state Health Minister informed that out of 116 people, 14 people have recovered and are in the process of being discharged from the hospitals.
"14 people from these have been recovered and are in the process of being discharged from the hospitals," he said in another tweet.
Meanwhile, the Sangli district administration in Maharashtra has released contact numbers for citizens to get home delivery of essential items during the 21-day lockdown to prevent the spread of coronavirus.
The police personnel and district administration will be in charge of facilitating delivery for the essential commodities during the lockdown.
The Indian Council of Medical Research (ICMR) on Wednesday confirmed 539 positive cases of coronavirus in the country.
Prime Minister Narendra Modi had on Tuesday announced a 21-day lockdown in the entire country effective from midnight to deal with the spread of coronavirus, saying that "social distancing" is the only option to deal with the disease, which spreads rapidly.

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