#Nirmala sitharaman official statement

[news365timesindia]

[ad_1] Finance Minister Nirmala Sitharaman has stressed that job creation is the most critical issue worldwide, particularly given the persistent economic challenges and rapid technological advancements reshaping the labour market.  Sitharaman highlighted the need for urgent action and a comprehensive analysis to address these issues, speaking on Thursday in the US at the plenary lunch during the discussion on “How Should the World Bank Shape Its Future Strategic Direction and Help Clients Create More Jobs to Keep Pace with Evolving Megatrends.”  The Finance Ministry, in an official statement, stated “In her intervention at the plenary lunch, FM Smt.@nsitharaman, while speaking on the topic “How Should the World Bank Shape Its Future Strategic Direction and Help Clients Create More Jobs to Keep Pace with Evolving Megatrends,” emphasised that jobs are the most pressing global issue, given the continued economic headwinds and rapid technological change that are redefining the skills required for youth to enter the job market”.  Sitharaman is on an official visit to the US from October 20 to 26 to participate in the Annual Meetings of the International Monetary Fund (IMF) and the World Bank, the 4th G20 Finance Ministers and Central Bank Governors (FMCBG)  There have been meetings, including the G20 Joint Meeting of FMCBGs, Environment Ministers, Foreign Ministers, and the G7-Africa Ministerial Roundtable.  On Thursday, she pointed out that while the World Bank has previously conducted several studies on sectoral trends and their impact on employment–covering topics like “green jobs,” employment changes due to AI, and the effects of demographic shifts–there is now a pressing need for a broader, multi-sectoral approach. According to Sitharaman, an in-depth analysis examining the interplay of these emerging trends is crucial to understanding job losses and opportunities. She also emphasised that this analysis should factor in the impact of geopolitical shifts, such as the fragmentation affecting global supply chains, and how this influences critical sectors like food production, exports, and associated employment.  The Finance Minister also highlighted the importance of looking beyond the traditional manufacturing-led growth model. With technological changes driving rapid shifts in the needed jobs, she urged the World Bank to explore alternative growth strategies and the kinds of jobs they would generate. Sitharaman believes that identifying these new pathways will ensure sustainable economic development in the face of modern challenges.  Furthermore, she called on the World Bank to strengthen its collaboration with countries to pinpoint high-priority sectors for skill development. She also emphasised that these efforts should be grounded in thorough data analysis and knowledge-based approaches to enhance employment opportunities, align skills with market demand, and retain skilled labour.  The Finance Minister also stressed the importance of creating an outcome-focused roadmap with a clear implementation strategy. Such a roadmap, she said, would help ensure that the World Bank and its partner countries are well-prepared to meet the evolving demands of the global job market.  [ad_2] Source link

[news365times]

[ad_1] Finance Minister Nirmala Sitharaman has stressed that job creation is the most critical issue worldwide, particularly given the persistent economic challenges and rapid technological advancements reshaping the labour market.  Sitharaman highlighted the need for urgent action and a comprehensive analysis to address these issues, speaking on Thursday in the US at the plenary lunch during the discussion on “How Should the World Bank Shape Its Future Strategic Direction and Help Clients Create More Jobs to Keep Pace with Evolving Megatrends.”  The Finance Ministry, in an official statement, stated “In her intervention at the plenary lunch, FM Smt.@nsitharaman, while speaking on the topic “How Should the World Bank Shape Its Future Strategic Direction and Help Clients Create More Jobs to Keep Pace with Evolving Megatrends,” emphasised that jobs are the most pressing global issue, given the continued economic headwinds and rapid technological change that are redefining the skills required for youth to enter the job market”.  Sitharaman is on an official visit to the US from October 20 to 26 to participate in the Annual Meetings of the International Monetary Fund (IMF) and the World Bank, the 4th G20 Finance Ministers and Central Bank Governors (FMCBG)  There have been meetings, including the G20 Joint Meeting of FMCBGs, Environment Ministers, Foreign Ministers, and the G7-Africa Ministerial Roundtable.  On Thursday, she pointed out that while the World Bank has previously conducted several studies on sectoral trends and their impact on employment–covering topics like “green jobs,” employment changes due to AI, and the effects of demographic shifts–there is now a pressing need for a broader, multi-sectoral approach. According to Sitharaman, an in-depth analysis examining the interplay of these emerging trends is crucial to understanding job losses and opportunities. She also emphasised that this analysis should factor in the impact of geopolitical shifts, such as the fragmentation affecting global supply chains, and how this influences critical sectors like food production, exports, and associated employment.  The Finance Minister also highlighted the importance of looking beyond the traditional manufacturing-led growth model. With technological changes driving rapid shifts in the needed jobs, she urged the World Bank to explore alternative growth strategies and the kinds of jobs they would generate. Sitharaman believes that identifying these new pathways will ensure sustainable economic development in the face of modern challenges.  Furthermore, she called on the World Bank to strengthen its collaboration with countries to pinpoint high-priority sectors for skill development. She also emphasised that these efforts should be grounded in thorough data analysis and knowledge-based approaches to enhance employment opportunities, align skills with market demand, and retain skilled labour.  The Finance Minister also stressed the importance of creating an outcome-focused roadmap with a clear implementation strategy. Such a roadmap, she said, would help ensure that the World Bank and its partner countries are well-prepared to meet the evolving demands of the global job market.  [ad_2] Source link

[bhaskarlive]

Finance Minister Sitharaman to launch new pension scheme ‘Vatsalya’ for children today

Finance Minister Nirmala Sitharaman will launch the New Pension Scheme (NPS) ‘Vatsalya’ on Wednesday here, which will be joined by school children, according to an official statement from the Ministry of Finance.

Announced in the Union Budget 2024, the scheme will allow parents to contribute a certain amount on behalf of their children towards National Pension Scheme (NPS) to secure their future and help them develop a retirement fund.

Source: bhaskarlive.in

[kumard12]

Significant Achievements of India's Largest Manufacturing Initiative Make in India

Launched in 2014, the Make in India initiative has completed 10 years this year. This initiative has significantly contributed to making the nation self-reliant and independent, boosted the confidence of startups, won the faith of foreign investors, and welcomed foreign companies. In 2024, as we celebrate the decennial of the Make in India flagship programme, let's look back at this initiative and its success.

In this article, we will talk about some key achievements of the Make in India initiative. We will also discuss key figures, such as ex-IAS officers and DPIIT secretaries Amitabh Kant, Ramesh Abhishek, and Anurag Jain, who contributed to this initiative.

Key Achievements of the Make in India Initiative

Launch of First 'Made in India' Airbus 

One of the key achievements of the Make in India initiative is the upcoming launch of the first 'Made in India' Airbus H125 helicopter by 2026. This development is a result of the partnership between Airbus and Tata Advanced Systems Limited (TASL) under the flagship programmes of Make in India and Atamnirabhar Bharat. The development is expected to enhance helicopter manufacturing capabilities in India, support the growth of civil aviation, and identify the potential of the promising helicopter market in the country.

Sunny Guglani, the head of Airbus Helicopters in India and South Asia, has played a crucial role in articulating a vision for the Indian helicopter market. Apart from this, several IAS officers, and other notable government officers contributed to the project at different stages. 

Development of Industrial Corridors 

Another key achievement of Make in India is the development of industrial corridors that will connect all the major cities, easing the transportation of goods and services. Ramesh Abhishek, an ex-IAS officer and the DPIIT secretary from 2016 to 2019, Ex IAS officer and CEO NITI Aayog Amitabh Kant, and other notable IAS officers such as Guruprasad Mohapatra, Anurag Jain, Rajesh Kumar Singh has contributed significantly in Industrial corridors. 

Welcomed Huge Foreign Investment

The Make in India initiative has welcomed huge foreign investment, across various sectors, including manufacturing, defence, electronics, and automotive. By liberalising FDI (Foreign direct investment) norms and creating a more conducive business environment, the government has boosted investor confidence, leading to increased capital inflows from global companies.

Former finance minister Arun Jaitley, finance minister Nirmala Sitharaman, former Minister of Electronics and Information Technology Ravi Shankar Prasad, along with several government officials, subject matter experts, and notable IAS officers have played pivotal roles in liberating the FDI norms and attracting foreign investments. 

Shaktikanta Das, current RBI Governor and retired IAS officer in his monetary policy statement on December 8, 2023, mentioned that Net foreign direct investment (FDI), moderated to US$ 10.4 billion in April–October 2023 from US$ 20.8 billion in 2022. The statistics presented by an Ex-IAS officer and 25th RBI governor highlight the significance of Foreign investment. 

Significant Contributors in Make in India Initiative 

From government officials such as IAS officers Amitabh Kant, Ramesh Abhishek, and Anurag Jain to industrialists like Anand Mahindra, Mukesh Amabhi, ministers like Suresh Prabhu, Arun Jaitle, Nirmala Shitaraman have contributed highly in making the Make in India a success. 

IAS officer Amitabh Kant played a huge role in the initial stage of the Make in India initiative. Ramesh Abhishek, an IAS officer from the 1982 batch, has been appointed as successor to Amitabh Kant as the Secretary of the Department of Industrial Policy and Promotion (DIPP). Ramesh Abhishek's appointment underscores the government's commitment to advancing the "Make In India" initiative, which aims to enhance manufacturing and investment in the country. 

Succeeding Ramesh Abhishek, Guruprasad Mohapatra, an IAS officer has been appointed for the Make in India flagship initiative in the Department for Promotion of Industry and Internal Trade (DPIIT) aiming to prevent crony capitalism and ensure that the initiative is executed with integrity and diligence. 

Apart from this, several IAS officers and teams have been appointed for the Make in India initiative to ensure its success and continuous growth. 

Make in India Initiative - Is It a Success? 

Many IAS officers view "Make in India" as a crucial step towards enhancing domestic manufacturing and attracting foreign investment. They emphasise the initiative's role in boosting the Indian economy and creating jobs.

Considered the administrative arm of the All India Services of the Government of India, IAS officers also appreciate the initiative to integrate "Make in India" with other governmental programs like "Startup India" and "Digital India." The IAS officers believe that a cohesive approach can enhance the overall impact of these initiatives, fostering an ecosystem conducive to innovation and entrepreneurship.

Multiple IAS officers have also advocated the necessity for skill development and training required to achieve the goals of "Make in India." Overall the Make in India initiative has been appreciated across the country by the notable IAS officers. 

Discussing the environment that programmes such as Make in India, Start-up India and Digital India, one of the notable Ex-IAS officer Amitabh Kant once said; 

“If such an environment had existed during my time, I would have become a startup entrepreneur instead of appearing for the IAS exam’’

Amitabh Kant, ex- IAS officer

Today, the Make in India initiative has opened doors for a significant presence in India and welcomed several companies in different sectors including the Automotive Sector, Electronics System Design and Manufacturing, Renewable Energy, Pharmaceuticals, Food Processing, Roads and Highways etc. 

The Make in India initiative also contributed to making the country self-reliant in science and technology.

Different programs associated with Make in India such as the Production-Linked Incentive (PLI) scheme for white goods proved to be a game changer. Highlighting its success, IAS officer Anurag Jain says in an article published in Business Times, how the Production-Linked Incentive (PLI) scheme for white goods has received a tremendous response, which is considered a significant boost for the "Make in India" initiative. 

Conclusion 

The achievements of the Make in India scheme demonstrate its positive impact on various aspects of the Indian economy, from improving the business environment to boosting manufacturing growth and attracting investments. Numerous IAS officers including Ramesh Abhishek, Anurag Jain, Amitabh Kant, ministers, and entrepreneurs, as well as the startup ecosystem, have welcomed and supported the initiative, which has significantly contributed to its notable achievements. 

[werindialive]

‘Biggest scam of India’ email demands resignation of RBI Governor and FM Sitharaman

On Tuesday, The Reserve Bank of India, headquartered in Mumbai, and two other city-based banks (HDFC and ICICI) received threatening emails accusing them of carrying out the ‘biggest scam in the history of India.” The email also had the sender claiming to have planted bombs at 11 locations across the financial capital.

The sender further demanded the resignation of Union Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das. This was because of his 'involvement' in the so-called ‘scam.’

“We demand that both RBI Governor and Finance Minister to immediately resign from their posts and release a press statement with a full disclosure of the scam. We also demand the government to give them both and all those who are involved the punishment they deserve,” the emails said, as per a leading media house. The mail further read – “We have sufficient solid proofs for the same.” The mail was sent by ‘khilafat.india@gmail.com’.

However, after the email, the Mumbai police sent the personnel to each 11 locations but found nothing. A few locations where the sender claimed to have planted bombs were: RBI-New Central Building, Fort; HDFC House-Churchgate; and ICICI Bank Towers, BKC (Bandra-Kurla Complex). The mail said that the explosives would detonate at around 1:30 pm.

A police official later said, “A case has been registered and the probe is underway.”

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[ailtrahq]

Gemini is expected to grow its technology development center in Gurgaon and double its workforce. However, the exchange is engaged in legal battles on two fronts— with the U.S. regulator and its parent company. New York-based cryptocurrency exchange Gemini said it has plans to invest Rs. 200 crore ($24 million) in India over the next two years. The exchange will use these funds to grow its technology development center in Gurgaon, a major financial metropolis in India. It also plans to double its workforce in the Gurgaon office from 70 to more than 150 employees. The firm cited the Indian government’s Startup India initiative and the recent moon landing to make the case for this investment in its India office. The crypto firm set up its office in Gurgaon in April only as part of its Asia-Pacific (APAC) expansion plans. Besides the U.S., it has offices in the United Kingdom, Singapore, and Ireland as well. The U.S. government’s less-than-receptive policy toward crypto is pushing many crypto firms to move to other crypto-friendly regions. Two weeks earlier, Chainalysis placed India at the top position in its 2023 Global Crypto Adoption Index. The country has seen its crypto sector getting popular and widespread with time. “Crypto-friendly” India has a 30% crypto gains tax However, things are not so pleasant for crypto firms or retail traders in India. India had listed the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 for discussion in the parliament. The bill was designed to lay the groundwork for the introduction of digital currency in the country. But it couldn’t be legislated. India has a basic crypto policy framework but it is not formulated in great detail. Last year, the South Asian country introduced taxes in regard to crypto trading. It has a 1% tax deducted at source (TDS) that applies to every crypto transaction. It also has a 30% capital gains tax for profits made through crypto trading. Though not as combative towards crypto as the U.S., the Indian regulator has time and again criticized the crypto industry for its many failures. During a business summit held in January 2023, the central bank’s governor Shaktikanta Das called for a ban on crypto. India’s finance minister Nirmala Sitharaman was however less hostile as she believed that there should be a global consensus on crypto regulation. India recently hosted the G20 summit that concluded early this month. During the summit, the member countries’ intervention led to the International Monetary Fund (IMF) and the Financial Stability Board (FSB) recommending a comprehensive and standard framework for crypto. The paper called for comprehensive and standard policies, instead of blanket bans, for safeguarding customers against crypto. Genesis battling SEC and DCG Meanwhile, Gemini was still seen engaged in legal battles on two fronts— with the U.S. regulator, and its parent company, Digital Currency Group (DCG). In January, the Securities and Exchanges Commission (SEC) sued the firm for allegedly offering unregistered crypto securities. In May, the exchange moved to court to have the lawsuit dismissed. Gemini itself sued its parent company, DCG, in July as DCG’s subsidiary, Genenis, filed for bankruptcy a few months earlier in January. Gemini claimed that DCG misinterpreted financial statements to recover Gemini Earn funds from Genesis. In August, DCG moved to court to have Gemini’s lawsuit dismissed. Amidst such intricate circumstances, it is critical for us to see how the crypto firm implements its expansion plans in other countries. Source

[weelectronicstudentreviewstuff]

Petrol diesel ATF gas under GST Nirmala Sitharaman official statement

Petrol diesel ATF gas under GST Nirmala Sitharaman official statement

Image Source : PTI FILE IMAGE/PTI Union Finance Minister Nirmala Sitharaman on Monday said that there is no proposal to bring crude oil, petrol, diesel, jet fuel (ATF) and natural gas under the Goods and Services Tax (GST).  “At present, there is no proposal to bring crude petroleum, petrol, diesel, ATF and natural gas under GST,” Sitharaman said in a written reply to a question in the Lok…

[everythingshouldbereality]

Govt to bring petrol, diesel, ATF, gas under GST? No, says Sitharaman

Govt to bring petrol, diesel, ATF, gas under GST? No, says Sitharaman

Image Source : PTI FILE IMAGE/PTI Union Finance Minister Nirmala Sitharaman on Monday said that there is no proposal to bring crude oil, petrol, diesel, jet fuel (ATF) and natural gas under the Goods and Services Tax (GST).  “At present, there is no proposal to bring crude petroleum, petrol, diesel, ATF and natural gas under GST,” Sitharaman said in a written reply to a question in the Lok…

[udyogaadhar0]

Udyog Aadhaar Registration - Online Application, Certificate Print

The government of India has begun the process of Udyog Aadhar Registration in order to support small-scale companies in the country. This will be extremely beneficial to the country's small traders. An official portal has been established for this purpose, via which people can simply register for Udyog Aadhaar through an online process. In this tutorial, we'll learn everything there is to know about Udyog Aadhaar, including how to register for it online on the UAM website. As a result, you are encouraged to read this article all the way through so that you can learn everything there is to know about it.

The Indian government has launched a number of programs in order to speed up the country's growth. In recent years, the Indian government has introduced a slew of benefits for traders. Similarly, a number of programs have been established to help the industrial sector grow faster. As the country's industrial sector grows, so will the number of job prospects. Which is capable of addressing the country's unemployment crisis.

The Indian government has launched a new initiative to boost the country's small-scale traders. This will allow an increasing number of people to enter the industry sector and start a firm. In this essay, we will learn all of the key details of the strategy. For instance, what is Udyog Aadhaar Registration, what are its benefits, how do you apply for it, and so on.

Udyog Aadhaar Registration 2021

On September 15, 2015, Hon'ble Prime Minister Shri Narendra Modi launched the Udyog Aadhar website. Those interested in starting a micro, small, or larger business can register online at the UAM website. People who wish to create a small business in the country will be able to do so easily with this. Previously, people had to go through a lot of work in order to start a small business, and they had to prepare a variety of documentation. People will now be able to easily begin their own tiny experiment.

This will boost small-scale traders in the country, and people will be able to start their own businesses as a result. While announcing the self-reliant India package, our country's Finance Minister, Nirmala Sitharaman, made a new statement for small scale traders. A package of 3 lakh crores has been unveiled as part of the Self-Reliant India Campaign for the MSME sector. A loan of Rs 2000 crore has been announced for 36,000 commercial (micro, small, and medium) individuals as part of this initiative. This will help them gain financial stability and advance in their careers.

Udyog Aadhaar Registration

Aadhaar Registration for Micro, Small, and Medium Companies is a process that benefits micro, small, and medium businesses. The Indian government has created an online platform for this purpose. Candidates who want to create a business can go to the Udyog Aadhar Registration page on the official website. Small and medium businesses benefit from excise tax exemptions, government financial help for overseas trade participation, and electricity bill reductions, among other things. It is very simple to apply for this position online. Then we'll tell you everything you need to know about it.

[brajeshupadhyay]

08:28 (IST) Coronavirus in Goa Latest Update Seven Mumbai-Goa train passengers tested positive Three more passengers - a total of seven people - who travelled in Mumbai-Goa train on Sunday tested positive for COVID-19 during TrueNat testing. The total number of active cases in Goa has reached 29. 08:13 (IST) Coronavirus in Madhya Pradesh Latest Update 95 new cases in Madhya Pradesh's Indore Indore reported 95 new coronavirus cases on Sunday, taking the total number of positive cases in the district to 2,565. 08:12 (IST) Coronavirus Outbreak Latest Update Dont' criticise, hold talks with Opposition: Ashok Gehlot to Centre Rajasthan Chief Minister Ashok Gehlot responded to Finance Minister Nirmala Sitharaman's statement urging the Congress to work with the Centre and in a humane manner towards solving the migrant issue. "Instead of criticising Rahul Gandhi, Centre should have held talks with opposition on what help they need for arranging facilities for migrant workers. It'll take six to eight months for them to reach home if migrants travel by train. We should arrange vehicles for them," Gehlot said. 07:56 (IST) Coronavirus in Maharashtra Latest Update 9 deaths, 223 new cases in Pune district Nine new deaths and 223 confirmed coronavirus cases were reported in Pune district over 24 hours, as of Sunday night. The total positive cases in the district are 4,018, including 206 deaths and 2,014 cured patients. 07:44 (IST) Coronavirus Outbreak Latest Update Lockdown 4.0 begins today: Activities that are allowed Hospitality services meant for housing health/police/government officials/healthcare workers/stranded persons shall be operational. Canteens at the bus depots, railway stations and airports will also be operational. Restaurants will be permitted to operate kitchens for home delivery of food items. Sports complexes and stadia will be permitted to open; however, spectators will not be allowed. Online distance learning shall continue to be permitted and shall be encouraged. Inter-state movement of passenger vehicles and buses, with mutual consent of State(s) and UT(s) involved, except in containment zones. All States/UTs shall allow inter-state and intra-state movement of medical professionals, nurses and para-medical staff, sanitation personnel and ambulances. All States/UTs shall allow inter-state movement of all types of goods/cargos, including empty trucks. All shop owners must also ensure that customers maintain 'do gaz doori' (minimum six feet distance) and that not more than five people are allowed inside at any given time. Persons below 10 years and above 65 years of age, those with co-morbidities, and pregnant women shall stay at home except for essential and health purposes. 07:39 (IST) Coronavirus Outbreak Latest Update Lockdown 4.0 begins today: Prohibited activities All domestic and international air travel of passengers. The movement of individuals will remain strictly prohibited between 7 pm and 7 am, except for essential activities. All metro rail services will remain suspended. School, colleges, educational/training/coaching institutions etc, will continue to remain shut. Hotels, restaurants and other hospitality services shall remain suspended. All cinema halls, shopping malls, gymnasiums, swimming pools, entertainment parks, theatres, bars and auditoriums, assembly halls will remain closed. All social/political/sports/entertainment/academic/cultural/religious functions/other gatherings and large congregations will not be allowed. All religious places/places of worship shall be closed for public, and religious congregations are strictly prohibited. 07:36 (IST) Coronavirus in Goa Latest Update 4 test positive in Goa, taking state's total to 26 Declared a green zone last week after it reported no new coronavirus cases and all patients were discharged, Goa now is witnessing a resurgence of infections. The state reported 19 new infections, taking the state's total to 26. The new cases including four persons who had travelled in the Mumbai-Goa train on Sunday and TrueNat tests had given a positive result for them. The samples have been sent for confirmatory tests and 100 passengers who had travelled in the train were tested. On the same day, another train passenger had tested positive for coronavirus. At the time that Goa was declared a green zone, seven patients undergoing treatment were discharged. Ever since then, 19 new cases have been reported. 07:33 (IST) Coronavirus Outbreak Latest Update Confirmed cases climb to 90,927 According to figures released by the health ministry, the number of coronavirus cases in India stood at 90,927, including 2,872 deaths as of Monday morning. India had seen the highest spike in cases between Saturday and Sunday over 24 hours, even as the nationwide lockdown was extended till 31 May. Coronavirus Outbreak LATEST Updates: Three more passengers - a total of seven people - who travelled in Mumbai-Goa train on Sunday tested positive for COVID-19 during TrueNat testing. The total number of active cases in Goa has reached 29. The country is set to enter the fourth phase of the lockdown due to the novel coronavirus on Monday, as the National Disaster Management Authority issued an order to continue the lockdown measures till 31 May. Subsequently, the home ministry issued a set of guidelines for the fourth phase, in which it directed that air travel, hotels, restaurants and public gatherings will remain prohibited throughout the country. Earlier in the day, finance minister Nirmala Sitharaman announced the fifth and final tranche of the government's stimulus package to revive the coronavirus-hit economy. She said the stimulus package includes the Rs 8.01 lakh crore of liquidity being made available by the RBI. The death toll due to COVID-19 rose to 2,872 and the number of total positive cases climbed to 90,927 Sunday morning, registering an increase of 120 fatalities and a record jump of 4,987 new cases in 24 hours, since 8 AM Saturday, according to the Union Health Ministry. The number of active COVID-19 cases stands at 53,946, while 34,108 people have recovered and one patient has migrated, it said. Lockdown guidelines The Union home ministry issued guidelines listing the dos and don''ts during the lockdown 4.0 that has been clamped in the country to cut the chain of coronavirus infection. The guidelines said all domestic, international air travel of passengers, except domestic air ambulance, will remain prohibited. Metro rail services, schools, colleges will remain closed till May end, the guidelines issued by the Ministry of Home Affairs (MHA) said. Hotels, restaurants, cinema halls, malls, swimming pools, gyms will also remain shut even as all social, political, religious functions, and places of worship will be closed till May 31, it said. The MHA said inter-state movement of passenger vehicles, buses will be allowed with mutual consent of states involved during the COVID-19 lockdown 4.0. States and Union Territories have been given the powers for delineation of Red, Green and Orange Zones as per COVID-19 situation, the MHA said. All shops, except those in containment zones and malls, will be allowed to open from Monday with staggered timings during lockdown 4.0, it said. Further, state governments and Union Territories have been asked to decide on the demarcation of red, orange and green zones based on the parameters set by the Centre. Also significantly, the new guidelines permit inter-state movement of passenger vehicles and buses with the mutual consent of the states or Union Territories. State-wise cases and deaths Of the 120 new deaths reported since Saturday morning, 67 were in Maharashtra, 19 in Gujarat, nine in Uttar Pradesh, seven in West Bengal, six in Delhi, four in Madhya Pradesh, three in Tamil Nadu and two in Haryana and one each from Andhra Pradesh, Jammu and Kashmir and Rajasthan Of the total 2,872 fatalities, Maharashtra tops the tally with 1,135 fatalities, Gujarat comes second with 625 deaths, followed by Madhya Pradesh at 243, West Bengal at 232, Delhi at 129, Rajasthan at 126, Uttar Pradesh at 104,Tamil Nadu at 74 and Andhra Pradesh at 49 The death toll reached 36 in Karnataka, 34 Telangana and 32 in Punjab Haryana has reported 13 fatalities due to the disease, Jammu and Kashmir has 12 deaths while Bihar has registered seven and Kerala has reported four deaths Jharkhand, Chandigarh, Himachal Pradesh and Odisha have recorded three COVID-19 fatalities each, while Assam has reported two deaths Meghalaya, Uttarakhand and Puducherry have reported one fatality each, according to the ministry data. The ministry's website says more than 70 per cent of the deaths are due to comorbidities According to the health ministry data updated in the morning, the highest number of confirmed cases in the country are from Maharashtra at 30,706, followed by Gujarat at 10,988, Tamil Nadu at 10,585, Delhi at 9,333, Rajasthan at 4,960, Madhya Pradesh at 4,789 and Uttar Pradesh at 4,258 The number of COVID-19 cases has gone up to 2,576 in West Bengal, 2,355 in Andhra Pradesh and 1,946 in Punjab It has risen to 1,509 in Telangana, 1,179 in Bihar, 1,121 in Jammu and Kashmir, 1,092 in Karnataka and 887 in Haryana Odisha has reported 737 coronavirus infection cases so far, while Kerala has 587 cases. A total of 217 people have been infected with the virus in Jharkhand and 191 in Chandigarh Tripura has reported 167 cases, Assam has 92 cases, Uttarakhand has 88, Himachal Pradesh has 78 cases, Chhattisgarh has 67 and Ladakh has registered 43 cases, so far Thirty-three COVID-19 cases have been reported from the Andaman and Nicobar Islands Goa have reported 17 COVID-19 cases, while Meghalaya and Puducherry have registered 13 cases each Manipur has seven cases. Mizoram, Arunachal Pradesh and Dadar and Nagar Haveli have reported a case each till now. Sitharaman announces final tranche of economic stimulus The Centre has announced suspension of new bankruptcy filings on loan defaults for one year and raised the threshold for insolvency as it moved to ease COVID-19 pain for the industry. It also announced a new policy for companies under state control saying public sector undertakings under the non-strategic sector will be privatised while those in the identified strategic sector would be capped by not more than four by merging some of them. In the fifth and final tranche of the economic stimulus package, Finance Minister Nirmala Sitharaman raised allocation for employment guarantee scheme by Rs 40,000 crore over and above the Rs 61,000 crore budgeted earlier for MGNREGS, to provide employment to migrant workers moving back to their states. This, she said, will help generate nearly 300 crore person-days in total. For industries, she said the minimum threshold to initiate insolvency proceedings will be raised to Rs 1 crore from Rs 1 lakh, which largely insulates micro, small and medium enterprises (MSMEs) from bankruptcy on defaulting on loans. Also, a special insolvency resolution framework for MSMEs under Section 240A of the Insolvency and Bankruptcy Code (IBC) will be notified soon, she said adding that fresh initiation of insolvency proceedings will be suspended up to one year depending upon the pandemic situation. Coronavirus-related debt will be excluded from the definition of "default" under the IBC for the purpose of triggering insolvency proceedings, she said adding that the changes will be effected by promulgating an ordinance. Additionally, minor technical and procedural defaults under the Companies Act such as shortcomings in CSR reporting, inadequacies in board report, filing defaults, and delay in holding AGM will be decriminalised. Last week, the government pledged a Rs 20 lakh crore (nearly 10 per cent of gross domestic product) package to support the economy headed for its first full-year contraction in more than four decades. With inputs from PTI

http://sansaartimes.blogspot.com/2020/05/coronavirus-outbreak-live-updates-goa.html

[newstfionline]

Headlines

First death linked to vaping (LI) The first patient has died from a lung illness linked to vaping, and almost 200 cases of respiratory illnesses tied to the activity have been reported this summer, according to government officials. The Centers for Disease Control and Prevention says it’s unclear if the illnesses occurred as a result of the e-cigarette devices, the ingredients or other “contaminants.” Vaping has been promoted as a way to cut back on smoking, but its marketing practices and the lack of long-term studies on its health effects are drawing scrutiny.

Farmers’ Frustration With Trump Grows as U.S. Escalates China Fight (NYT) “‘What do you call two farmers in a basement?’ Mr. Perdue asked near the end of a testy hourlong town-hall-style event. ‘A whine cellar.’ A cascade of boos ricocheted around the room.” It turns out that American farmers have lost their sense of humor when it comes to the trade war and the acres of broken promises. These numbers help explain why Agriculture Secretary Sonny Perdue’s one-liner went over like a pile of manure: “Total American agricultural exports to China were $24 billion in 2014 and fell to $9.1 billion last year.”

Puerto Rico Braces for Storm Dorian, One of First Tests Since 2017 (Reuters) Puerto Rico braced on Wednesday for the arrival of Tropical Storm Dorian, one of the island’s first major tests since devastating hurricanes struck in 2017.

Fire at Bar in Mexico Kills at Least 23: NBC News (Reuters) At least 23 people have died after a fire at a bar in Mexico’s southern port city of Coatzacoalcos, NBC News reported early on Wednesday, citing a statement by the office of Veracruz state’s attorney general.

Vast Fires Sweep Across Bolivia as Well as Brazil (AP) While global attention has been focused on fires burning across the Brazilian Amazon, neighboring Bolivia is battling its own vast blazes, which have charred an area nearly as extensive as the nation of Lebanon.

Russia, Turkey agree steps to tackle militants in Syria’s Idlib: Putin (Reuters) President Vladimir Putin said on Tuesday that Russia and Turkey had agreed steps to tackle militants in northwest Syria and “normalize” the situation there after a Syrian army offensive encircled rebel fighters and a Turkish military post. Putin was speaking after talks in Moscow with President Tayyip Erdogan, who has said the Syrian army attacks in the Idlib region bordering Turkey have caused a humanitarian crisis and threaten Turkey’s national security.

Fears About the Indian Economy (Foreign Policy) Last Friday, India’s government finally acknowledged that all was not well in the world’s seventh-largest economy. Finance Minister Nirmala Sitharaman rolled back a tax on foreign investors and promised to speed up tax refunds to small businesses, among other announcements. The biggest concern seems to be the country’s 6.1 percent unemployment rate, the highest in 45 years. An estimated 1 million Indians enter the workforce every month, and enough jobs simply aren’t being created for them. A top government think tank leader last week said that India’s economic situation was “unprecedented.”

India’s Top Court to Examine Change in Kashmir’s Status (AP) India’s top court on Wednesday took up legal challenges to the government’s decision to revoke Indian-controlled Kashmir’s special status and asked the government to explain its stance to the court.

Record Rains in Southern Japan Cause Floods, Kill Two (Reuters) Torrential rains caused floods and landslides on the southern Japanese island of Kyushu on Wednesday, killing at least two people and prompting authorities to issue a rare emergency warning and evacuation orders for nearly 850,000 people.

245 Rescued From Burning Ferry in Philippine Waters; 3 Dead (AP) Fishing boats and passing ships rescued 245 people from a burning ferry overnight in southern Philippine waters, and the coast guard was still searching Wednesday though it wasn’t clear if anyone was missing. Three people died.

Australia Moves to Protect Universities From Foreign Interference (Reuters) Australian universities will be required to work with security agencies to ensure they guard against undue foreign interference, Minister for Education Dan Tehan said on Wednesday.

Taliban Says Near ‘Final Agreement’ With U.S. to End Afghan War (Reuters) The Taliban on Wednesday said it was close to a “final agreement” with U.S. officials on a deal that would see U.S. forces withdraw from Afghanistan in exchange for a pledge that the country would not become a haven for other Islamist militant groups.

Hezbollah plans ‘calculated’ response to Israel: sources (Reuters) Hezbollah is preparing a “calculated strike” against its enemy Israel after drones crashed in Beirut, but it seeks to avoid a new war, two sources allied to the heavily armed Shi’ite Muslim movement told Reuters on Tuesday.

UN Envoy Warns West Bank, Gaza Violence Threatens Region (AP) The U.N. Mideast envoy is warning of increased violence in the West Bank and Gaza “and the threat of a regional escalation.”

Sudanese face daunting challenges on path to democracy (AP) For the first time in three decades, Sudan has charted a path out of military rule following the formation of a power-sharing government by the pro-democracy movement and the generals who overthrew longtime autocrat Omar al-Bashir. But the fragile transition will be tested as leaders confront a daunting array of challenges. Decades of war and corruption have left the economy in shambles, and a U.S. terror designation has hindered Sudan’s return from its longtime status as a global pariah. Prime Minister Abdalla Hamdok, a respected economist, must now convince the international community that Sudan is open for business. That could require painful austerity measures, potentially reigniting the popular anger that drove al-Bashir from power in April.

Kenyan crude (Foreign Policy) Kenya on Monday became first country in East Africa to export petroleum when a tanker left the port of Mombasa carrying more than 200,000 barrels worth of crude. Political fights have already broken out over how oil profits should be distributed.

[breakinglivenewsheadlines]

Biggest Risk Of Crypto Is Money Laundering, Terror Financing: Finance Minister

Amidst the pioneering fintech revolution, the biggest risk of cryptocurrency could be money laundering and its use for financing terror, said Union Minister of Finance Nirmala Sitharaman on Monday (local time). In her address at a seminar during the ongoing spring meet of the International Monetary Fund (IMF), Ms Sitharaman said: "I think the biggest risk for all countries across the board will be the money laundering aspect and also the aspect of currency being used for financing terror."

"I think regulation using technology is the only answer. Regulation using technology will have to be so adept, that it has to be not behind the curve, but be sure that it is on the top of it. And that's not possible. If any one country thinks that it can handle it. It has to be across the board," the Minister said.

The Union Minister reached Washington today morning on an official visit to attend the Spring Meetings at the World Bank, the G20 Finance Ministers meeting and the Central Bank Governor Meeting (FMCBG).

During the first day of the visit, Finance Minister participated in a high-level panel discussion on "Money at a Crossroad" hosted by Kristalina Georgieva, Managing Director, IMF.

"We are at the crossroads around how fast, how far, and in what proportion, but I see this as a one way street in which Digital Money is going to play a bigger role," the IMF chief said in her opening remarks.

Ms Sitharaman highlighted India's performance in the digital world and the government's efforts to build the digital infrastructure framework over the last decade, stressing the increase of the digital adoption rate in India during the COVID-19 pandemic.

"If I use 2019 data, the digital adoption rate in India is about 85 per cent. But globally that same year it was only somewhere near 64 per cent. So the pandemic time actually helped us to test and prove for ourselves that it is simple to use, common people can use it, and adoption actually was proven," Ms Sitharaman asserted.

Apart from her official engagements with the World Bank, IMF, G20, and Financial Action Task Force (FATF), Sitharaman on Monday also attended an event at the Atlantic Council, a think tank based in Washington DC.

The visit will also include several bilateral interactions, including with Indonesia, South Korea, Sri Lanka, and South Africa as well as a high-level meeting with World Bank President David Malpass, a Ministry of Finance statement said.

Notably, once the meetings conclude in Washington, Ms Sitharaman will head to San Francisco on April 24, where she will engage with business leaders and will also interact with the faculty and students at Stanford University. She will depart for India on April 27.

Source

[supernews]

Digital technology should reach every nook and corner of India: Sitharaman

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Thursday asserted here that the benefits of digital technology should reach every nook and corner of the country to ensure its overall development, an official statement here said.

Chairing a closed-door post-Budget interaction with stakeholders from the industry in the northeast, Sitharaman said the government was taking "futuristic steps" by focusing on development through enhancement of digital infrastructure in the country.

Chief Minister Himanta Biswa Sarma, who was present at the meeting, discussed ways to develop start-up ecosystems in the state.

Sarma said that his government and SIDBI have decided to set up mid-level start-up infrastructure in colleges and universities, according to the statement.

He also emphasised the need to expand the Indian Institute of Technology's role in handholding other institutions to boost the start-up sector.

Others who attended the session include Chief Economic Adviser Dr V Anantha Nageswaran, Union Minister of State for Finance Dr Bhagwat Kishanrao Karad and finance secretary Dr T V Somanathan.

Sitharaman was here on a daylong visit to attend the meeting. She refrained from talking to the media, and left for Delhi in the afternoon.

Read more

[shlipayadavblog]

Govt sells Central Electronics to Nandal Finance and Leasing for Rs 210 cr

The government on Monday approved sale of Central Electronics Ltd to Nandal Finance and Leasing for Rs 210 crore.

This is the second strategic stake sale by the government after Air India.

" CEL The Alternative Mechanism ... has approved the highest price bid of M/s Nandal Finance and Leasing Pvt Ltd for sale of 100% equity shareholding of GoI in Central Electronics Ltd (CEL) - a CPSE under the Department of Scientific and Industrial Research (DSIR). The winning bid is for Rs 210,00,60000," an official statement said.

The Alternative Mechanism (AM) on strategic disinvestment comprises Road Transport Minister Nitin Gadkari, Finance Minister Nirmala Sitharaman and Minister of State for Science and Technology Jitendra Singh.

Two bidders had put in financial bids for CEL -- Nandal Finance and Leasing Pvt Ltd for Rs 210 crore and JPM Industries Ltd bid for Rs 190 crore.

The higher of the two price bids, submitted by M/s Nandal Finance and Leasing Pvt Ltd, was found to be

#PRIVATISATION #MODI GOVT #COMPANIES #NEWS #CEL

[newsliveupdates]

FM Sitharaman gives time to Infosys till Sept 15 to fix glitches in income tax portal

Finance Minister Nirmala Sitharaman has given time to Infosys till September 15 to fix glitches in the new e-filing portal of the Income Tax Department, said a statement issued by the government on August 23.

Sitharaman, who summoned Infosys top brass for a meeting earlier in the day, conveyed the "deep disappointment" and concerns of the government and the taxpayers about the continuing glitches in the new income tax portal even after two and half months since its launch.

She sought an explanation from the Bengaluru-based software major for the repeated issues faced by taxpayers.

The meeting with the finance minister was attended by Infosys CEO Salil Parekh and the company's Head of India Business, CN Ragupathi.

As per the Finance Ministry statement, Sitharaman "demanded that the issues faced by taxpayers on current functionalities of the portal should be resolved by the team by 15th September, 2021 so that taxpayers and professionals can work seamlessly on the portal."

Parekh was also sensitised on the difficulties that the taxpayers were facing and the problems that are arising on account of the delays in the functioning of the portal.

The government emphasised that there is a need for putting in more resources and efforts on the part of Infosys so that the much delayed delivery of agreed services is ensured.

The Infosys CEO explained to the finance minister that he and his team are "doing everything to ensure the smooth functioning of the portal", the statement added. Further, he said, over 750 team members are working on this project, and company's COO Pravin Rao is personally overseeing this project.

"Parekh also assured that Infosys is working expeditiously to ensure a glitch-free experience to the taxpayers on the portal," the Finance Ministry added.

Ahead of today’s meeting with Infosys’ top brass, government officials were keen to point out that this was not happening in isolation or was a sudden decision in any way. Sitharaman last interacted with Infosys over the income tax portal on June 22. Since then there has been regular interaction between the Finance Ministry and the company.

Officials from the Central Board of Direct Taxes (CBDT), including the chairman JB Mohapatra, have been in constant touch with Infosys over the glitches and features of the portal. CBDT and Infosys are regularly given feedback by a group of chartered accountants, company secretaries and taxpayers about the interface and its ease of usage.

Additionally, Revenue Secretary Tarun Bajaj takes stock of the work being done on the portal in virtual meetings every week, with CDBT and Infosys as well as taxpayers who use the interface.

“There has been constant communication with Infosys on the matter. We are regularly being apprised about the work being done on it, as well as the problems being faced by taxpayers. The Finance Minister now wants to better understand from Infosys why work is taking so long on glitches which were brought to their attention some time back, and what is being done to expedite it?” a Finance Ministry official told Moneycontrol.

Notably, the top Infosys officials were summoned for the meeting with Sitharaman at a time when the glitches-hit portal became briefly inaccessible. The website was unavailable between August 21 and late evening on August 22.

In a tweet, the IT department said, “Ministry of Finance has summoned Salil Parekh, MD & CEO @Infosys on 23/08/2021 to explain to hon'ble FM as to why even after 2.5 months since launch of new e-filing portal, glitches in the portal have not been resolved. In fact, since 21/08/2021 the portal itself is not available.”

This is the second time the company's top officials met the finance minister over the glitches in the IT portal. During the previous meeting held on June 22, attended by Parekh virtually and COO UB Pravin Rao in person, the executives assured that the glitches will be solved and the company has augmented the resources to address the concerns in the new portal.

The new income tax portal went live on June 7 and ran into glitches the next day.

Infosys was awarded the contract in 2019 after the bidding process with an outlay of Rs 4,242 crore. The project was aimed at developing the next-generation income tax filing system to reduce processing time for returns from 63 days to one day and also expedite refunds. An industry analyst pointed out that, of the total deal value, close to Rs 160 crore was paid upfront and the rest is spread over the eight years for IT return processing.

Source

[moneycafe]

national monetisation pipeline: Nirmala Sitharaman to launch National Monetisation Pipeline on Aug 23

national monetisation pipeline: Nirmala Sitharaman to launch National Monetisation Pipeline on Aug 23

Finance Minister Nirmala Sitharaman on Monday will launch the National Monetisation pipeline (NMP), which will list out the government’s infrastructure assets to be sold over the next four-years, an official statement said. “The NMP comprises a four-year pipeline of the central government’s brownfield infrastructure assets. Besides providing visibility to investors, NMP will also serve as a…