Newest Information Dwell: A cohesive and responsive ASEAN wanted for safety and progress, says PM Modi – The Financial Instances

Latest News Live: A cohesive and responsive ASEAN needed for security and growth, says PM Modi - The Economic Times

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We imagine a cohesive and responsive ASEAN wanted for safety and progress for all in area

– We imagine a cohesive and responsive ASEAN wanted for safety and progress for all in area: PM Narendra Modi at ASEAN-India summit

ICICI Financial institution-Videocon cash laundering case: Court docket rejects Deepak Kochhar’s bail plea

Enhancing each kind of connectivity between India and ASEAN is a serious precedence for us

– PM Narendra Modi at India-ASEAN summit

Strategic Partnership of India & ASEAN is predicated on our shared historic, geographical & cultural heritage. ASEAN has all the time been the core of our Act East Coverage

– PM Modi

It is of prime significance for us to enhance bodily, financial, societal, digital, monetary & maritime connections b/w India & ASEAN

– PM Narendra Modi

India, Russia planning to export BrahMos supersonic cruise missile to Philippines, a number of different nations

– Russian Deputy Chief of Mission Roman Babushkin

Movie actor Asif Basra was discovered hanging in a personal complicated in Dharamshala, reviews ANI

Forensic workforce is on the spot and police is investigating the matter: SSP Kangra Vimukt Ranjan.

Sino-India border standoff in japanese Ladakh anticipated to be resolved peacefully quickly

– ITBP chief

Sure Financial institution case: Rana Kapoor’s daughter Roshni will get bail

A Justice of the Peace courtroom on Thursday granted bail to Sure Financial institution founder Rana Kapoors daughter Roshni Kapoor, an accused within the Sure Financial institution fraud case linked to DHFL, after she appeared earlier than the courtroom in response to summons issued to her.

Wage invoice of listed firms may very well be up by 3-4% in first half of this fiscal: CMIE

“Quarterly monetary statements of listed firms point out a considerable deterioration of employment situations throughout the first half of 2020-21,” CMIE mentioned in its weekly evaluation. Within the first quarter of 2020-21, which led to June 2020, the nominal wage invoice for listed firms was up by 2.2%, the bottom year-on-year improve.

Wipro to switch present construction of varied strategic models

Firm to have 4 strategic market models, 2 world enterprise strains. New working mannequin & construction efficient Jan 1, reviews ET Now quoting companies.

IREDA sanctions loans price Rs 12,696 crore in 2019-20

The Indian Renewable Vitality Improvement Company Ltd (IREDA) has sanctioned loans price Rs 12,696 crore and has disbursed Rs 8,785 crore, supporting capability addition of 5,673 MW throughout 2019-20, a Ministry of New & Renewable vitality assertion mentioned.

Rupee settles 28 paise decrease at 74.64 (provisional) towards US greenback

Gold features on ebbing vaccine optimism, stimulus bets

Google Maps to introduce ‘Journeys’ tab to remind of earlier holidays

Google Maps will quickly roll out a brand new Journeys tab in timeline on Android that may current clients an summary of earlier holidays and full kilometres travelled.

Indian Navy’s fifth Scorpene class submarine Vagir launched

What’s there for development and infrastructure sector?

  • Rest of earnest cash deposit (EMD) and efficiency safety on authorities tenders.
  • Efficiency safety on contracts to be lowered to three% as a substitute of 5 to 10%.
  • Additionally, EMD is not going to be required for tenders.

What’s there for homebuyers?

  • Differential between circle price and settlement worth elevated from 10 to twenty%, until thirtieth June 2021.
  • That is just for main sale of residential models of worth as much as Rs 2 crore.
  • Until now, solely 10 per cent distinction between the circle price and the settlement worth was allowed.

What’s there for farmers?

  • Rs 65,000-crore fertilizer subsidy for farmers
  • Extra outlay of Rs 10,000 crore for PM Garib Kalyan Rozgar Yojana
  • Rs 3,000 crore might be launched to EXIM Financial institution for promotion of ‘Challenge Exports’

Proposals from 21 states sanctioned below PM Matsya Sampada Yojana

Disbursed Rs 25,000 crore as a particular facility to farmers by way of NABARD. Whole Rs 2.05 Lakh crore sanctioned to 61 lakh debtors below ECLGS Scheme.

Atmanirbhar Bharat Rozgar Yojana for job creation

  • To incentivise creation of recent employment alternatives throughout the COVID restoration part.
  • The Atmanirbhar Bharat Rozgar Yojana might be relevant for eligible new workers becoming a member of EPFO-registered institutions and for many who exited these institutions throughout the COVID pandemic.

10 Champion sectors below PIL

  • Advance Chemistry Cell (ACC) battery (Rs 18,100 crore)
  • Electronics and expertise merchandise (Rs 5,000 crore)
  • Vehicles and auto elements (Rs 57,042 crore)
  • Prescribed drugs and medicines (Rs 15,000 crore)
  • Telecom and networking merchandise (Rs 12,195 crore)
  • Textiles merchandise (Rs 10,683 crore)
  • Meals merchandise (Rs 10,900 crore)
  • Excessive-efficiency photo voltaic PV modules (Rs 4,500 crore)
  • White items (Rs 6,238 crore)
  • Specialty metal (Rs 6,322 crore)

A abstract of stimulus measures introduced until date

A summary of stimulus measures announced till date

The scale of the stimulus being offered by the federal government, as a part of the 12 bulletins made right this moment below Aatmanirbhar Bharat 3.0, quantities to Rs 2.65 lakh crores. 15% of nationwide GDP as stimulus takeaway

– FM Nirmala Sitharaman

Rs 10,200 crore further funds outlay might be offered in direction of Capital and industrial expenditure

– MoS Finance Anurag Thakur

R&D Grant Covid Vaccine Improvement

  • Rs 900 crore is being offered to DBT India for analysis actions associated to COVID19 vaccine growth
  • This doesn’t embrace value of vaccine or logistics for vaccine distribution

Rs 10,200 crore is being moreover offered in direction of capital and industrial expenditure: FM

Quantity might be spent in direction of home defence tools, industrial incentives, industrial infrastructure, and inexperienced vitality.

Enhance for undertaking exports

  • Rs 3,000 crore to be given to EXIM Financial institution for promotion of undertaking exports by way of line of credit score below IDEAS scheme
  • About 811 export contracts amounting to $10.50 billion being financed below LoCs

Extra outlay of Rs 10,000 crore is being offered for PM Garib Kalyan Rozgar Yojana: FM

Funds can be utilized for MGNREGA or for Gram Sadak Yojana, will assist speed up the agricultural financial system.

Rs 65,000 crore fertilizer subsidy might be offered to farmers: FM

Fertilizer consumption goes up considerably, an elevated provide of fertilizers will make sure that forthcoming crop seasons is not going to be affected for need of enough fertilizers: FM

Infusion of Fairness in NIIF

  • Infusion Of Fairness In NIIF Rs 6,000 crore fairness infusion might be achieved in NIIF debt platform for funding infrastructure
  • Non-public fairness participation to additionally are available; NIIF has itself invested Rs 2,000 crore
  • Debt platform has a mortgage guide of Rs 8,000 crore and deal pipeline of Rs 10,000 crore

Tax reduction for builders and residential consumers in Stimulus 3.0

  • Revenue tax reduction might be offered to twenty% of differential between circle price and settlement worth elevated from 10%
  • This is able to be relevant on main sale of residential models of worth as much as Rs 2 crore
  • 43CA of IT Act restricts differential between circle price and settlement worth

Demand booster for Residential Actual Property Revenue Tax reduction for Builders and Dwelling Patrons

Demand booster for Residential Real Estate Income Tax relief for Developers and Home Buyers

Assist for Development & Infrastructure- Rest of EMD & Efficiency Safety on Authorities Tenders

  • EMD is not going to be required for tenders and might be changed by Bid Safety Declaration
  • Relaxations might be given until 31.12.2021 below Basic Monetary Guidelines
  • Will give reduction to contractors by decreasing locking up of capital and price of BG

Assist for Development & Infrastructure- Rest of Earnest cash Deposit (EMD) & Efficiency Safety on Authorities Tenders

Efficiency safety on contracts to be lowered to three% as a substitute of 5 to 10%

  • Will likely be prolonged to ongoing contracts that are freed from disputes
  • May also be prolonged to Public Sector Enterprises
  • States might be inspired to undertake the identical

PLI Scheme for 10 champion sectors

PLI Scheme for 10 champion sectors

ECLGS 2.0: Assured credit score for supporting careworn sectors

ECLGS 2.0: Guaranteed credit for supporting stressed sectors

The monetary outlay for the brand new scheme might be Rs 1,45,980 crore: FM

The federal government on Wednesday accepted a Manufacturing-Linked Incentive (PLI) scheme for ten key sectors, together with telecom, vehicles and prescribed drugs, taking the whole outlay for such incentives to just about Rs 2 lakh crore over a five-year interval.

– FM Nirmala Sitharaman

For two years the Central authorities can pay for:

  • Companies with over 1000 workers: Govt to pay workers EPF contribution of 12%
  • Companies with as much as 1000 workers: Govt to pay worker’s and employer’s contribution to EPF of 12% every
  • Staff should seed Aadhaar with EPFO account

Rs 3 lakh cr current ECLGS

Rs 3 lakh cr existing ECLGS

Nirmala Sitharaman proclaims that the Emergency Credit score Line Assure Scheme has been prolonged until March 31, 2021.

Subsidy assist from Central Govt

Subsidy support from Central Govt

Atmanirbhar Bharat Rozgar Yojana

  • The scheme is being launched to incentivise the creation of recent employment alternatives throughout the Covid-19 restoration part.
  • This might be efficient from Oct. 1, 2020, for the following two years.
  • These firms using 1000 or much less will even get lined.
  • Tough estimate – 65% of all these within the formal sector will come below this.

Advantages below the brand new scheme:

  • – Any new worker becoming a member of employment in EPFO registered institutions on month-to-month wages lower than Rs 15,000
  • – EPF members drawing month-to-month wages of lower than Rs 15,000 who made exit from employment throughout the Covid-19 pandemic from March 1 to Sept. 30 and is employed after Oct. 1

EPFO registered organisations to get advantages on recruiting new individuals who did not have EPFO earlier than or those that misplaced their jobs between March 1 and September 30: FM

Enhance for employment

Boost for employment

FM Sitharaman lists 12 measures below the third leg of the self-reliance scheme

Over and above this, Bihar proposes to spend Rs 450 crore in direction of capex: FM

Atmanirbhar Bharat 2.0

  1. Pageant advance launched
  2. LTC voucher schemes launched
  3. Extra capital expenditure given to Ministry of Street Transport & Defence Ministry
  4. 11 States sanctioned Rs 3621 crores as interest-free mortgage in direction of capital expenditure

Rs 1,32,800 crores given to 39.7 lakh assessees as Revenue tax refunds: FM

Progress report of Atmanirbhar Bharat 2.0

Progress report of Atmanirbhar Bharat 2.0

The primary tranche of the Atmanirbhar marketing campaign was about stimulus to assist the poor and needy of the nation.

– Nirmala Sitharaman, FM

Sensex down 400 factors

Sensex down 400 points

On the ECLG Scheme, Rs 2.05 lakh crore has been sanctioned to 61 lakh debtors with whole disbursals made at Rs 1.52 lakh crore: FM

Work has commenced on making a devoted portal for migrant staff: FM

Progress of Aatmanirbhar Bharat 1.0

Progress of Aatmanirbhar Bharat 1.0

21 states have despatched proposals, and Rs 1681 crore sanctioned below the PM Matsya Sampada scheme: FM

FM outlines progress of Atmanirbhar Bharat Abhiyaan 1.0

  1. One Nation One ration scheme: Interstate portability of ration playing cards on, overlaying 68.6 cr beneficiaries. Intrastate portability additionally enabled in 28 states. 1 crore transactions are taking place every month.
  2. PM SavarNidhi scheme: Protection for avenue distributors now in 30 states. Over 26 lakh mortgage purposes acquired.
  3. Portal for migrant staff being created.

RBI predicts a robust chance of the Indian financial system returning to constructive progress in Q3: 2020-21, forward by 1 / 4 of the sooner forecast.

– FM Nirmala Sitharaman

Banks have additionally sanctioned a restrict of 1,43,262 crores, in two phases: FM

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