HRD panel to probe funds 'misuse' by Teesta NGO

March 6, 2015

New Delhi, Mar 6: The HRD Ministry has set up a committee to probe alleged misappropriation of funds received under the Sarva Siksha Abhiyan by an NGO run by activist Teesta Setalvad, who is facing heat along with her husband in a separate case of embezzlement.

The three-member committee is to be headed by Supreme Court lawyer Abhijit Bhattacharjee and comprise Gujarat Central University Vice Chancellor SA Bari and senior HR Ministry official Gaya Prasad as its members.

The panel will look into allegations against the NGO Sabrang Trust based on a complaint received by the ministry about "mis-utilisation" of funds by it, officials in the HRD Ministry said, confirming the setting up of the committee.

The two members of the committee, however, said they were yet to receive any communication in this regard.

Setalvad and her husband Javed Anand are also involved in the Gulbarg society embezzlement case.

Supreme Court recently directed Gujarat Police not to arrest the duo in the case while asking them to cooperate in the probe.

The case pertains to funds for a museum in Ahmedabad's Gulbarg Society, which was devastated in the 2002 riots.

Meanwhile, sources in the ministry said that Setalvad could also be dropped from the Central Advisory Board of Education (CABE), which is being reconstituted after NDA government came to power.

CABE is the highest decision-making body on education in the country.

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

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Coronavirus cases in India rise to 390: Health ministry

News Network

March 23,2020

New Delhi, Mar 23: The total number of COVID-19 cases in the country rose to 390 on Monday after 30 fresh cases were reported.

The figure includes 41 foreign nationals and the seven deaths reported so far.

Gujarat, Bihar and Maharahstra reported a death each on Sunday, while four fatalities were reported earlier from Karnataka, Delhi, Maharashtra and Punjab, the Union Health Ministry said.

The total number of active COVID-19 cases across the country now stands at 359, while 24 people have been cured/discharged/migrated.

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Coronavirus: PM Narendra Modi govt may unveil Rs 1.5 lakh crore economic stimulus package for COVID-19

News Network

March 25,2020

New Delhi, Mar 25: The government is likely to agree an economic stimulus package of more than Rs 1.5 lakh crore ($19.6 billion) to fight a downturn in the country that is currently locked down to stem the spread of coronavirus, two sources familiar with the matter told news agency.
The government has not yet finalised the package and discussions are ongoing between Prime Minister Narendra Modi's office, the finance ministry, and Reserve Bank of India (RBI), said both the sources, who asked not to be named as the matter was still under discussion.

One of the sources, a senior government official, said the stimulus plan could be as large as Rs 2.3 lakh crore, but final numbers were still in discussion.

The package could be announced by the end of the week, both sources added.

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