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Highlights of Union Budget 2020-21

Presenting the first Union Budget of the third decade of 21st century, Finance Minister Smt. Nirmala Sitharaman, today unveiled a series of far-reaching reforms, aimed at energizing the Indian economy through a combination of short-term, medium-term, and long-term measures.

The Key Highlights of Union Budget 2020-21 are as follows:

Three prominent themes of the Budget

Aspirational India – better standards of living with access to health, education and better jobs for all sections of the society

Economic Development for all – “Sabka Saath , Sabka Vikas , Sabka Vishwas”.

Caring Society – both humane and compassionate; Antyodaya as an article of faith.

Three broad themes are held together by:

Corruption free, policy-driven Good Governance.

Clean and sound financial sector.

Ease of Living underlined by the three themes of Union Budget 2020-21.

Three components of Aspirational India

Agriculture, Irrigation, and Rural Development

Wellness, Water, and Sanitation

Education and Skills

Sixteen Action Points for Agriculture, Irrigation and Rural Development

Rs. 2.83 lakh crore to be allocated for the following 16 Action Points:

Rs. 1.60 lakh crore for Agriculture, Irrigation & allied activities.

Rs. 1.23 lakh crore for Rural development & Panchayati Raj. –

Agriculture credit:

Rs. 15 lakh crore target set for the year 2020-21.

PM-KISAN beneficiaries to be covered under the KCC scheme.

NABARD Re-finance Scheme to be further expanded.

Comprehensive measures for 100 water-stressed districts proposed.

Blue Economy:

Rs. 1 lakh crore fisheries’ exports to be achieved by 2024-25.

200 lakh tonnes fish production targeted by 2022-23.

3477 Sagar Mitras and 500 Fish Farmer Producer Organisations to involve youth in fisheries extension.

Growing of algae, sea-weed and cage culture to be promoted.

Framework for development, management and conservation of marine fishery resources.

Kisan Rail to be setup by Indian Railways through PPP:

To build a seamless national cold supply chain for perishables (milk, meat, fish, etc.

Express and Freight trains to have refrigerated coaches.

Krishi Udaan to be launched by the Ministry of Civil Aviation:

Both international and national routes to be covered.

North-East and tribal districts to realize Improved value of agri-products.

One-Product One-District for better marketing and export in the Horticulture sector.

Balanced use of all kinds of fertilizers – traditional organic and innovative fertilizers.

Measures for organic, natural, and integrated farming:

Jaivik Kheti Portal – online national organic products market to be strengthened.

Zero-Budget Natural Farming (mentioned in July 2019 Budget) to be included.

o Integrated Farming Systems in rain-fed areas to be expanded.

o Multi-tier cropping, bee-keeping, solar pumps, solar energy production in non-cropping season to be added.

PM-KUSUM to be expanded:

20 lakh farmers to be provided for setting up stand-alone solar pumps.

Another 15 lakh farmers to be helped to solarise their grid-connected pump sets.

Scheme to enable farmers to set up solar power generation capacity on their fallow/barren lands and to sell it to the grid.

Village Storage Scheme:

To be run by the SHGs to provide farmers a good holding capacity and reduce their logistics cost.

Women, SHGs to regain their position as Dhaanya Lakshmi.

NABARD to map and geo-tag agri-warehouses, cold storages, reefer van facilities, etc.

Warehousing in line with Warehouse Development and Regulatory Authority (WDRA) norms:

Viability Gap Funding for setting up such efficient warehouses at the block/taluk level.

Food Corporation of India (FCI) and Central Warehousing Corporation (CWC) to undertake such warehouse building.

Financing on Negotiable Warehousing Receipts (e-NWR) to be integrated with e-NAM.

State governments who undertake implementation of model laws (issued by the Central government) to be encouraged.

Livestock:

Doubling of milk processing capacity to 108 million MT from 53.5 million MT by 2025.

Artificial insemination to be increased to 70% from the present 30%.

MNREGS to be dovetailed to develop fodder farms.

Foot and Mouth Disease, Brucellosis in cattle and Peste Des Petits ruminants (PPR) in sheep and goat to be eliminated by 2025.

Deen Dayal Antyodaya Yojana – 0.5 crore households mobilized with 58 lakh SHGs for poverty alleviation.

Wellness, Water and Sanitation

Rs. 69,000 crore allocated for overall Healthcare sector.

Rs. 6400 crore (out of Rs. 69,000 crore) for PM Jan Arogya Yojana (PMJAY):

More than 20,000 hospitals already empanelled under PM Jan Arogya Yojana (PMJAY).

Viability Gap Funding window proposed for setting up hospitals in the PPP mode.

Aspirational Districts with no Ayushman empanelled hospitals to be covered in the first phase.

Targeting diseases with an appropriately designed preventive regime using Machine Learning and AI.

Jan Aushadhi Kendra Scheme to offer 2000 medicines and 300 surgicals in all districts by 2024.

TB Harega Desh Jeetega campaign launched – commitment to end Tuberculosis by 2025.

Rs. 3.60 lakh crore approved for Jal Jeevan Mission:

Rs. 11,500 crore for the year 2020-21.

Augmenting local water sources, recharging existing sources, and promoting water harvesting and de-salination.

Cities with million-plus population to be encouraged to achieve the objective during the current year itself.

Rs.12, 300 crore allocation for Swachh Bharat Mission in 2020-21:

Committment to ODF-Plus in order to sustain ODF behaviour.

Emphasis on liquid and grey water management.

o Focus also on Solid-waste collection, source segregation, and processing.

Education and Skills

Rs. 99,300 crore for education sector and Rs. 3000 crore for skill development in 2020-21.

New Education Policy to be announced soon.

National Police University and National Forensic Science University proposed for policing science, forensic science, and cyber-forensics.

Degree level full-fledged online education program by Top-100 institutions in the National Institutional Ranking Framework.

Up to 1-year internship to fresh engineers to be provided by Urban Local Bodies.

Budget proposes to attach a medical college to an existing district hospital in PPP mode.

Special bridge courses to be designed by the Ministries of Health, and Skill Development:

To fulfill the demand for teachers, nurses, para-medical staff and care-givers abroad.

To bring in equivalence in the skill sets of the workforce and employers’ standards.

150 higher educational institutions to start apprenticeship embedded degree/diploma courses by March 2021.

External Commercial Borrowings and FDI to be enabled for education sector.

Ind-SAT proposed for Asian and African countries as a part of Study in India program.

Economic Development

Industry, Commerce and Investment

Rs. 27,300 crore allocated for 2020-21 for development and promotion of Industry and Commerce.

Investment Clearance Cell proposed to be set up:

o To provide “end to end” facilitation and support.

o To work through a portal.

Five new smart cities proposed to be developed.

Scheme to encourage manufacture of mobile phones, electronic equipment and semi-conductor packaging proposed.

National Technical Textiles Mission to be set up:

o With four-year implementation period from 2020-21 to 2023-24.

o At an estimated outlay of Rs 1480 crore.

o To position India as a global leader in Technical Textiles.

New scheme NIRVIK to be launched to achieve higher export credit disbursement, which provides for:

o Higher insurance coverage

o Reduction in premium for small exporters

o Simplified procedure for claim settlements.

Turnover of Government e-Marketplace (GeM) proposed to be taken to Rs 3 lakh crore.

Scheme for Revision of duties and taxes on exported products to be launched.

o Exporters to be digitally refunded duties and taxes levied at the Central, State and local levels, which are otherwise not exempted or refunded.

All Ministries to issue quality standard orders as per PM’s vision of “Zero Defect-Zero Effect” manufacturing.

Infrastructure

Rs.100 lakh crore to be invested on infrastructure over the next 5 years.

National Infrastructure Pipeline:

o Rs. 103 lakh crore worth projects; launched on 31st December 2019.

o More than 6500 projects across sectors, to be classified as per their size and stage of development.

A National Logistics Policy to be released soon:

o To clarify roles of the Union Government, State Governments and key regulators.

o A single window e-logistics market to be created

o Focus to be on generation of employment, skills and making MSMEs competitive.

National Skill Development Agency to give special thrust to infrastructure-focused skill development opportunities.

Project preparation facility for infrastructure projects proposed.

o To actively involve young engineers, management graduates and economists from Universities.

Infrastructure agencies of the government to involve youth-power in start-ups.

Rs.1.7 lakh crore proposed for transport infrastructure in 2020-21.

Highways:

Accelerated development of highways to be undertaken, including:

o 2500 Km access control highways.

o 9000 Km of economic corridors.

o 2000 Km of coastal and land port roads.

o 2000 Km of strategic highways.

Delhi-Mumbai Expressway and two other packages to be completed by 2023.

Chennai-Bengaluru Expressway to be started.

Proposed to monetise at least 12 lots of highway bundles of over 6000 Km before 2024.

Indian Railways:

Five measures:

o Large solar power capacity to be set up alongside rail tracks, on land owned by railways.

o Four station re-development projects and operation of 150 passenger trains through PPP.

o More Tejas type trains to connect iconic tourist destinations.

o High speed train between Mumbai and Ahmedabad to be actively pursued.

o 148 km long Bengaluru Suburban transport project at a cost of Rs 18600 crore, to have fares on metro model. Central Government to provide 20% of equity and facilitate external assistance up to 60% of the project cost.

Indian Railways’ achievements:

o 550 Wi-fi facilities commissioned in as many stations.

o Zero unmanned crossings.

o 27000 Km of tracks to be electrified.

Ports & Water-ways:

Corporatizing at least one major port and its listing on stock exchanges to be considered.

Governance framework keeping with global benchmarks needed for more efficient sea-ports.

Economic activity along river banks to be energised as per Prime Minister’s Arth Ganga concept.

Airports:

100 more airports to be developed by 2024 to support Udaan scheme.

Air fleet number expected to go up from present 600 to 1200 during this time.

Electricity:

“Smart” metering to be promoted.

More measures to reform DISCOMs to be taken.

Power:

Rs.22, 000 crore proposed for power and renewable energy sector in 2020-21.

Expansion of national gas grid from the present 16200 km to 27000 km proposed.

Further reforms to facilitate transparent price discovery and ease of transactions.

New Economy

To take advantage of new technologies:

o Policy to enable private sector to build Data Centre parks throughout the country to be brought out soon.

o Fibre to the Home (FTTH) connections through Bharatnet to link 100,000 gram panchayats this year.

o Rs.6000 crore proposed for Bharatnet programme in 2020-21.

Measures proposed to benefit Start-ups:

o A digital platform to be promoted to facilitate seamless application and capture of IPRs.

o Knowledge Translation Clusters to be set up across different technology sectors including new and emerging areas.

o For designing, fabrication and validation of proof of concept, and further scaling up Technology Clusters, harbouring test beds and small scale manufacturing facilities to be established.

o Mapping of India’s genetic landscape- Two new national level Science Schemes to be initiated to create a comprehensive database.

o Early life funding proposed, including a seed fund to support ideation and development of early stage Start-ups.

Rs.8000 crore proposed over five years for National Mission on Quantum Technologies and Applications.

Caring Society

Focus on:

o Women & child,

o Social Welfare;

o Culture and Tourism

Allocation of Rs. 35,600 crore for nutrition-related programmes proposed for the FY2020-21.

Rs.28, 600 crore proposed for women specific programs.

Issue about age of a girl entering motherhood – proposed to appoint a task force to present its recommendations in six months’ time.

Financial support for wider acceptance of technologies, identified by Ministry of Housing and Urban Affairs to ensure no manual cleaning of sewer systems or septic tanks, to be provided.

Rs. 85, 000 crore proposed for 2020-21 for welfare of Scheduled Castes and Other Backward Classes.

Rs. 53, 700 crore provided to further development and welfare of Scheduled Tribes.

Enhanced allocation of Rs. 9,500 crore provided for 2020-21 for senior citizens and Divyang.

Culture & Tourism

Allocation of Rs. 2500 crore for 2020-21 for tourism promotion.

Rs.3150 crore proposed for Ministry of Culture for 2020-21.

An Indian Institute of Heritage and Conservation under Ministry of Culture proposed; with the status of a deemed University.

5 archaeological sites to be developed as iconic sites with on-site Museums:

o Rakhigarhi (Haryana)

o Hastinapur (Uttar Pradesh)

o Shivsagar (Assam)

o Dholavira (Gujarat)

o Adichanallur (Tamil Nadu)

Re-curation of the Indian Museum in Kolkata, announced by Prime Minister in January 2020.

Museum on Numismatics and Trade to be located in the historic Old Mint building in Kolkata.

4 more museums from across the country to be taken up for renovation and re-curation.

Support for setting up of a Tribal Museum in Ranchi (Jharkhand).

Maritime museum to be set up at Lothal- the Harrapan age maritime site near Ahmedabad, by Ministry of Shipping.

State governments expected to develop a roadmap for certain identified destinations and formulate financial plans during 2021 against which specified grants to be made available to the States in 2020-21.

Environment & Climate Change

Allocation for this purpose to be Rs.4400 crore for 2020-21.

Proposed to advise the utilities to close the running old thermal power plants with carbon emission above the pre-set norms.

States that are formulating and implementing plans for ensuring cleaner air in cities above one million to be encouraged.

PM launched Coalition for Disaster Resilient Infrastructure (CDRI) with Secretariat in Delhi. Second such international initiative after International Solar Alliance.

Governance

Clean, corruption-free, policy driven, good in intent and most importantly trusting in faith.

Taxpayer Charter to be enshrined in the Statute will bring fairness and efficiency in tax administration.

Companies Act to be amended to build into statues, criminal liability for certain acts that are civil in nature.

Other laws with such provisions are to be corrected after examination.

Major reforms in recruitment to Non-Gazetted posts in Government and Public sector banks:

An independent, professional and specialist National Recruitment Agency (NRA) for conducting a computer-based online Common Eligibility Test for recruitment.

A test-centre in every district, particularly in the Aspirational Districts.

A robust mechanism to be evolved for appointment including direct recruitment to various Tribunals and specialised bodies to attract best talents and professional experts.

Contract Act to be strengthened.

New National Policy on Official Statistics to:

Promote use of latest technologies including AI.

Lay down a road-map towards modernised data collection, integrated information portal and timely dissemination of information.

A sum of Rs. 100 crore allocated to begin the preparations for G20 presidency to be hosted in India in the year 2022.

Development of North East region:

Improved flow of funds using online portal by the Government.

Greater access to financial assistance of Multilateral and Bilateral funding agencies.

Development of Union Territories of J&K and Ladakh:

An amount of Rs. 30,757 crore provided for the financial year 2020-21.

o The Union Territory of Ladakh has been provided with Rs. 5,958.

Financial Sector

Reforms accomplished in PSBs :

10 banks consolidated into 4.

Rs. 3,50,000 crore capital infused.

Governance reforms to be carried out to bring in transparency and greater professionalism in PSBs.

Few PSBs to be encouraged to approach the capital market to raise additional capital

Deposit Insurance and Credit Guarantee Corporation (DICGC) permitted to increase Deposit Insurance Coverage to Rs. 5 lakh from Rs.1 lakh per depositor.

Scheduled Commercial Bank’s health under monitoring through a robust mechanism, keeping depositors’ money safe.

Cooperative Banks to be strengthen by amending Banking Regulation Act for:

Increasing professionalism.

Enabling access to capital.

Improving governance and oversight for sound banking through the RBI.

NBFCs eligibility limit for debt recovery reduced from:

Rs. 500 crore to Rs 100 crore asset size.

Rs 1 crore to Rs 50 lakh loan size.

Private capital in Banking system:

Government to sell its balance holding in IDBI Bank to private, retail and institutional investors through the stock exchange.

Easier mobility in jobs:

Auto-enrolment in Universal Pension coverage.

Inter-operability mechanism to safeguard the accumulated corpus.

Pension Fund Regulatory Development Authority of India Act to be amended to:

Strengthen regulating role of PFRDAI.

Facilitate separation of NPS trust for government employees from PFRDAI.

Enable establishment of a Pension Trust by the employees other than Government.

Factor Regulation Act 2011 to be amended to:

Enable NBFCs to extend invoice financing to the MSMEs through TReDS

New scheme to provide subordinate debt for entrepreneurs of MSMEs by the banks

Would be counted as quasi-equity.

Would be fully guaranteed through the Credit Guarantee Trust for Medium and Small Entrepreneurs (CGTMSE).

The corpus of the CGTMSE would accordingly be augmented by the government.

Window for MSME’s debt restructuring by RBI to be extended by one year till March 31, 2021.

More than five lakh MSMEs have already been benefitted.

An app-based invoice financing loans product for MSMEs to be launched.

To prevent the problem of delayed payments and consequential cash flows mismatches.

Export promotion of MSMEs:

For selected sector such as pharmaceuticals, auto components and others.

An Rs 1000 crore scheme anchored by EXIM Bank together with SIDBI.

o Hand holding support for technology upgradations, R&D, business strategy etc.

Financial Market

Deepening Bond Market.

Certain specified categories of Government securities to be opened fully for non -resident investors also.

FPI limit in corporate bonds increased to 15% from 9% of its outstanding stock.

New legislation to be formulated for laying down a mechanism for netting of financial contracts.

Scope of credit default swaps to expand.

Debt Based Exchange Traded Fund expanded by a new Debt-ETF consisting primarily of Government Securities.

To give attractive access to retail investors, pension funds and long-term investors.

A Partial Credit Guarantee scheme for the NBFCs formulated post the Union budget 2019-20 to address their liquidity constraints.

New mechanism to be devised to further this.

o Government support to securities so floated.

Infrastructure Financing

Rs.103 lakh crore National Infrastructure Pipeline projects earlier announced.

Rs 22,000 crore to cater to the equity support to Infrastructure Finance Companies such as IIFCL and a subsidiary of NIIF.

IFSC, GIFT city: full of potential to become a centre of international finance as well as a centre for high end data processing:

o An International Bullion exchange(s) to be set up as an additional option for trade by global market participants with the approval of regulator.

Disinvestment

Government to sell a part of its holding in LIC by way of Initial Public Offer (IPO).

Fiscal Management

XV Finance Commission (FC):

o XV Finance Commission has given its first report for FY2020-21

o Recommendations accepted in substantial measure

o Its final report for five years beginning 2021-22 to be submitted during the latter part of the year.

GST Compensation Fund:

o Balances due out of collection of the years 2016-17 and 2017-18 to be transferred to the Fund, in two instalments.

o Hereinafter, transfers to the fund to be limited only to collection by way of GST compensation cess.

Overhaul of Centrally Sponsored Schemes and Central Sector Schemes necessary:

o To align them with emerging social and economic needs of tomorrow

o To ensure that scarce public resources are spent optimally

On the recent debate over transparency and credibility of projected fiscal numbers, it is assured that procedure adopted is compliant with the FRBM Act.

For the FY 2019-20:

o Revised Estimates of Expenditure: at Rs.26.99 lakh crore

o Revised Estimates of Receipts: estimated at Rs.19.32 lakh crore.

For year 2020-21:

o Nominal growth of GDP estimated at 10%.

o Receipts: estimated at Rs.22.46 lakh cr

o Expenditure: at Rs.30.42 lakh cr.

Significant tax reforms for boosting investments recently undertaken. However, expected tax buoyancy expected to take time.

Fiscal deficit of 3.8% estimated in RE 2019-20 and 3.5% for BE 2020-21. It comprises two ingredients;

o 3.3% for year 2019-20 and 3% for the 2020-21 budget estimate.

o Deviation of 0.5%, consistent with Section 4(3) of FRBM Act, both for RE 2019-20 and BE 2020-21. (Section 4 (2) of the FRBM Act provides for a trigger mechanism for a deviation from the estimated fiscal deficit on account of structural reforms in the economy with unanticipated fiscal implications.)

o Return path, committing to fiscal consolidation without compromising needs of investment out of public funds, is laid in Medium Term Fiscal Policy cum Strategy Statement.

o Market borrowings: Net market borrowings: Rs.4.99 lakh crore for 2019-20 and Rs.5.36 lakh crore for 2020-21.

A good part of the borrowings for the financial year 2020-21 to go towards Capital expenditure that has been scaled up by more than 21%.

Direct Tax

Direct Tax Proposals – To stimulate growth, simplify tax structure, bring ease of compliance, and reduce litigations.

Personal Income Tax:

Significant relief to middle class taxpayers.

New and simplified personal income tax regime proposed:

Taxable Income Slab (Rs.) Existing tax rates New tax rates 0-2.5 Lakh Exempt Exempt 2.5-5 Lakh 5% 5% 5-7.5 Lakh 20% 10% 7.5-10 Lakh 20% 15% 10-12.5 Lakh 30% 20% 12.5-15 Lakh 30% 25% Above 15 Lakh 30% 30%

Around 70 of the existing exemptions and deductions (more than 100) to be removed in the new simplified regime.

Remaining exemptions and deductions to be reviewed and rationalised in coming years.

New tax regime to be optional – an individual may continue to pay tax as per the old regime and avail deductions and exemptions.

Measures to pre-fill the income tax return initiated so that an individual who opts for the new regime gets pre-filled income tax returns and would need no assistance from an expert to pay income tax.

New regime to entail estimated revenue forgone of Rs. 40,000 crore per year.

Corporate Tax:

Tax rate of 15% extended to new electricity generation companies.

Indian corporate tax rates now amongst the lowest in the world.

Dividend Distribution Tax (DDT):

DDT removed making India a more attractive investment destination.

Deduction to be allowed for dividend received by holding company from its subsidiary.

Rs. 25,000 crore estimated annual revenue forgone.

Start-ups:

Start-ups with turnover up to Rs. 100 crore to enjoy 100% deduction for 3 consecutive assessment years out of 10 years.

Tax payment on ESOPs deferred.

MSMEs to boost less-cash economy:

Turnover threshold for audit increased to Rs. 5 crore from Rs. 1 crore for businesses carrying out less than 5% business transactions in cash.

Cooperatives:

Parity brought between cooperatives and corporate sector.

Option to cooperative societies to be taxed at 22% + 10% surcharge and 4% cess with no exemption/deductions.

Cooperative societies exempted from Alternate Minimum Tax (AMT) just like Companies are exempted from the Minimum Alternate Tax (MAT).

Tax concession for foreign investments:

100% tax exemption to the interest, dividend and capital gains income on investment made in infrastructure and priority sectors before 31st March, 2024 with a minimum lock-in period of 3 years by the Sovereign Wealth Fund of foreign governments.

Affordable housing:

Additional deduction up to Rs. 1.5 lakhs for interest paid on loans taken for an affordable house extended till 31st March, 2021.

Date of approval of affordable housing projects for availing tax holiday on profits earned by developers extended till 31st March, 2021.

Tax Facilitation Measures

Instant PAN to be allotted online through Aadhaar.

‘Vivad Se Vishwas’ scheme, with a deadline of 30th June, 2020, to reduce litigations in direct taxes:

Waiver of interest and penalty – only disputed taxes to be paid for payments till 31st March, 2020.

Additional amount to be paid if availed after 31st March, 2020.

Benefits to taxpayers in whose cases appeals are pending at any level.

Faceless appeals to be enabled by amending the Income Tax Act.

For charity institutions:

Pre-filling in return through information of donations furnished by the done.

Process of registration to be made completely electronic.

Unique registration number (URN) to be issued to all new and existing charity institutions.

Provisional registration to be allowed for new charity institutions for three years.

CBDT to adopt a Taxpayers’ Charter.

Losses of merged banks:

Amendments proposed to the Income-tax Act to ensure that entities benefit from unabsorbed losses and depreciation of the amalgamating entities.

Indirect Tax

GST:

Cash reward system envisaged to incentivise customers to seek invoice.

Simplified return with features like SMS based filing for nil return and improved input tax credit flow to be implemented from 1st April, 2020 as a pilot run.

Dynamic QR-code capturing GST parameters proposed for consumer invoices.

Electronic invoice to capture critical information in a centralized system to be implemented in a phased manner.

Aadhaar based verification of taxpayers being introduced to weed out dummy or non-existent units.

GST rate structure being deliberated to address inverted duty structure.

Customs Duties:

Customs duty raised on footwear to 35% from 25% and on furniture goods to 25% from 20%.

Basic customs duty on imports of news print and light-weight coated paper reduced from 10% to 5%.

Customs duty rates revised on electric vehicles and parts of mobiles.

5% health cess to be imposed on the imports of medical devices, except those exempt from BCD.

Lower customs duty on certain inputs and raw materials like fuse, chemicals, and plastics.

Higher customs duty on certain goods like auto-parts, chemicals, etc. which are also being made domestically.

Trade Policy Measures

Customs Act being amended to enable proper checks of imports under FTAs.

Rules of Origin requirements to be reviewed for certain sensitive items.

Provisions relating to safeguard duties to be strengthened to enable regulating such surge in imports in a systematic way.

Provisions for checking dumping of goods and imports of subsidized goods being strengthened.

Suggestions for reviews of exemptions from customs duty to be crowd-sourced.

Excise duty proposed to be raised on Cigarettes and other tobacco products, no change made in the duty rates of bidis.

Anti-dumping duty on PTA abolished to benefit the textile sector.

Unprecedented Milestones and Achievements of Indian Economy

India now the fifth largest economy of the world.

7.4% average growth clocked during 2014-19 with inflation averaging around 4.5%.

271 million people raised out of poverty during 2006-16.

India’s Foreign Direct Investment elevated to US$ 284 billion during 2014-19 from US$ 190 billion during 2009-14.

Central Government debt reduced to 48.7% of GDP (March 2019) from 52.2% (March 2014).

Two cross-cutting developments:

Proliferation of technologies (Analytics, Machine Learning, robotics, Bio-informatics and Artificial Intelligence).

Highest ever number of people in the productive age group (15-65 years) in India.

GST removed many bottlenecks in the system.

Future Aim for sustaining India’s unique global leadership, driven by Digital Revolution

Seamless delivery of services through Digital Governance.

Improvement in physical quality of life through National Infrastructure Pipeline.

Risk mitigation through Disaster Resilience.

Social security through Pension and Insurance penetration.

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entergamingxp · 5 years ago

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Tokyo Mirage Sessions #FE Encore review

I love a good crossover, even if they’re often limited to fighting games and online events. It’s exciting to see developers being fans of each other and working together to interpret and merge each other’s stuff, culminating in an enthusiastic collaboration across the industry. With this in mind, Tokyo Mirage Sessions, a crossover between the Fire Emblem and Shin Megami Tensei series, sounds like a pretty fantastic idea.

Tokyo Mirage Sessions #FE Encore review

Developer: Atlus

Publisher: Nintendo

Platform: Switch

Availability Out January 17th on Switch

It focuses on the friends Aoi Itsuki and Tsubasa Oribe. Ever since Tsubasa’s sister Ayaha disappeared during a concert five years prior, the timid girl wants to become a singer to continue her sibling’s legacy as an entertainer. During her very first audition, Tsubasa is attacked by mirages, demons who are after the natural artistic ability within humans. To fight back, Tsubasa and Itsuki gain the power of Chrom and Caeda from the Fire Emblem series, who help them change into magical “carnage forms”. Unfortunately their new friends have lost all memory of who they are and where they’re from. The only thing that’s clear is that mirages regularly attack entertainers, so what better way than to join an entertainment agency to keep an eye on these occurrences?

It’s not the smoothest integration of a theme into its setting, but the entertainment industry gives Tokyo Mirage Sessions its own identity beyond being a crossover, in ways both good and bad. Let’s start with the good: Tsubasa and friends are training to become idols, Japanese all-around entertainers, and Tokyo Mirage Sessions makes great effort to showcase different facets of the job. Each chapter is dedicated to another aspect, whether that’s being a model, an actor or a show host. Chapters also often culminate in short anime music videos of your characters performing a new song. The round-based battles take place on a stage, a mass of adoring fans following your performance from the stands. Your characters whirl around acrobatically, draw their signatures in the air for every spell and cheer for each other. Each hero is wearing elaborate costumes that spell love for magical girl and boy design. If you complete side quests for the members of your party, they gain special attacks reminiscent of their signature performances. Each win is celebrated with applause and an amount of confetti I haven’t seen since Ace Attorney.

Without this stylish veneer however, combat is a familiar affair. Similar to the Persona games, themselves a sub-series of Shin Megami Tensei, offence is the best defence, and you have the best chances of winning if your opponent doesn’t even get the drop on you. If you can exploit an enemy’s weakness, for example by attacking them with a specific weapon or spell, you start a Session. If they have the right skill equipped, during a Session your other team members get to chain an attack immediately to yours, more often than not leading to a monster’s immediate demise. Battles are vibrant to watch without dragging on, and I loved every unnecessarily bombastic transformation and attack. If they still run too long for you, the Encore version now allows you to enable quick sessions and skip special attack sequences with the press of a button.

Combat is energetic, fun to watch and generally over quickly, though randomly appearing savage enemies sharply raise difficulty.

I also liked the dungeons. While the first one is pretty drab, the subsequent ones follow the style of the different chapters and each come with a different gameplay element. In one dungeon depicting a TV show set, for example, you run errands for a demonic production supervisor.

So far so good, but while I enjoyed Tokyo Mirage Sessions at first, as a crossover it’s decidedly weak. It retains the modern Tokyo setting from Shin Megami Tensei, but there isn’t much to do. Some characters, like Tsubasa, are really likable, others fall flat because they often only talk to you instead of each other, so don’t expect too much depth in the social element. During main quests, dungeons are pretty large, as typical for an Atlus game, but each features only one unique gameplay element, so after a while you will have done the same thing for hours, whether that’s solving switch puzzles or navigating changing floor layouts. To fully heal your party and unlock new skills, you have to visit your agency, so while you gain the ability to warp there early on, you still have to traipse back every time, a far cry from just having the entrance to the Velvet Room at the beginning of each dungeon.

It takes more than half of the game for Tokyo Mirage Sessions to remember that the #FE in its title stands for Fire Emblem. Generally, the Fire Emblem influence remains incredibly easy to ignore, certainly due to the Fire Emblem developer Intelligent Systems hardly having had a hand in either design or development. That makes Tokyo Mirage Sessions approachable for people who are unfamiliar with either series, but it seems odd to market something as a big crossover of two beloved properties and then skimp on the crossover elements.

Your friends are eager for your good opinion, but they’re not as fleshed out as other SMT protagonists.

With this in mind I wanted to judge Tokyo Mirage Sessions purely on its merit as a magical idol RPG, which raises a few difficult points. The whole idol industry has been a pretty niche interest in the West, until Korean idols such as BTS turned into international sensations. The idea of magical girl idols, who sing and dance by day and transform into fighters for justice by night, was devised with young girls in mind, right until the moment someone realised that there’s a lot of money in sexualising this concept. That’s where Tokyo Mirage Sessions comes in, because it’s not a game made for a target audience of young girls, but what quickly turned out to be the new number one customer of the idol industry – guys who like their girls to be what we consider barely legal, or let’s be honest, not at all. The idol industry sells itself in the perceived innocence of its performers. While several local different local laws apply, the age of consent in Japan is 13, which is why what we consider the sexualisation of minors is in fact perfectly legal, if still questionable and a very convenient loophole to sell idols not to hormonal teenagers, but adult men, whose gaze is the predominant focus of the game (as it is for most of the video game industry).

Protagonist Itsuki was purposefully designed as an everyman, an unassuming dude in argyle sweaters who is enough of a blank page that through him, players can live the fantasy having an idol all for themselves. “What do you think of my outfit?” Tsubasa will ask him, “How about this pose?” “Uwwah, help me, I’m so embarrassed to show myself to others like this, but doing this for you feels natural!” There’s a side quest in which Itsuki teaches his friend Touma “nanpa”, picking up women on the street. Just like any sort of pick-up artistry, nanpa is rarely associated with someone bumbling “Hey, come here often” and more with rape at worst and sleaziness at best. Yet, Tokyo Mirage Sessions makes Itsuki into a napa master, the hero popular with all the ladies, and only after the fact does someone ask if picking up women is really the best way to become a successful entertainer.

Of course a lot of Japanese content uses fanservice, but Tokyo Mirage Sessions is made uncomfortable by the reality of the industry it portrays. The idol industry is real, and directly responsible for the expectations fans have of how women should look and behave. In order to seem available, idols are barred from dating, leading to incidents such as obsessive fans threatening them for being seen with male idols in TV shows or private outings. Minami Minegishi, members of Japan’s largest girl idol group AKB48, once shaved her head as penance for dating. In 2016 Tatsuya Yamaguchi, bassist of hyper-popular idol band TOKIO, admitted to having tried to kiss an underage girl he frequently invited home with him – he’d promised to make her a famous idol. Just last year, an executive at an idol agency was convicted of several cases of grooming. Several idols were convicted of drug possession, in Japan a career-ending event, and most idols admitted that without stimulants they couldn’t keep up with their extraordinary workload. There’s a large cost in upholding the fantasy of the idol, especially for young girls.

Side stories and some good old grinding in special dungeons meant to help you earn experience points help you quickly unlock skills and new special attacks.

Nintendo released a cut for Western territories. Changes include raising almost all character’s ages to the age of consent in most countries, deleting panty shots and the revision of overly revealing costumes. Additionally a quest focusing on gravure modeling, a term for idols suggestively modeling in swimwear and underwear, was completely reworked to focus on fashion modeling instead. In an interview with Game Informer prior to the game’s original Wii U release, representatives from Nintendo America stated that “It was a priority to ensure the game feels familiar and appeals to longtime Atlus fans. Any changes made to the in-game content were due to varying requirements and regulations in the many different territories Nintendo distributes its products.”

While the Encore version also adds DLC content such as costumes, a new song and the albeit limited opportunity to have support characters further help out in battle, this Switch version is otherwise based on this altered version. I find the changes easy enough to ignore and I think anyone who gets incensed about less exposed skin on their anime girls should perhaps take a healthy walk around the block, Tokyo Mirage Sessions is still plenty sexual. Elements from boob jiggling to introducing characters cleavage first to many costumes that remain as revealing as ever can still be found.

If you want to truly learn more about the idol industry, here you’ll hear mostly platitudes, and beyond that all elements from characters to combat stay rather simple. As it stands, Tokyo Mirage Sessions is a stylish game with a unique theme that’s as often questionable as it is cute, but it doesn’t reach the depth of either of its crossover franchises to leave a lasting impression.

from EnterGamingXP https://entergamingxp.com/2020/01/tokyo-mirage-sessions-fe-encore-review/?utm_source=rss&utm_medium=rss&utm_campaign=tokyo-mirage-sessions-fe-encore-review

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electronicproductdevelopment · 6 years ago

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New Post has been published on Quality, Manufacturing & Product Development

New Post has been published on http://quality-manufacturing.org/often-audit-supplier/

How often should you audit your supplier and why ?

Factory audit is a common process used to verify a supplier capability and compliance with some working standard, quality management system, ethical labor practice or even health and safety standard.

The topic of this article is when should you audit your suppliers ? Should you audit them once at the beginning then bye bye or should you audit them on a periodic base ?

I will answer to those question point by point.

# Auditing during sourcing phase

Most of importers use supplier audit services to verify their manufacturers capability and to make sure the vendor is genuine (not spam) before placing their first order. Quite often, an importer after having performed some online search on a global trade platform such as Alibaba, Global Sources or Made in China will enter in contact with the vendor and start communicating about a potential order.

Then, when the times come from discussion with vendor about payment terms and conditions, and especially which amount should be deposited to the vendor account to start the order, the question of the reliability, technical capability, social responsibility, financial health and genuineness of the company start to run into the buyer brain. Indeed, with a deposit amount required usually to be between 30 to 50% of the purchase order, considering mass production big number effect, the deposit amount may not be so small. How to protect this deposit and how to minimize risk related to payment is considered at the time when the payment has to be made.

The supplier audit service is then the best tool to minimize risk by verifying the background of your vendor: production process, assets such as equipment and machine, employees, organization, management, quality assurance implementation, warehouse storage management, sample management, documentation, versioning, training of new comers, hr management, etc… All of those elements can be verified during a supplier audit before placing an order to a vendor and it helps you to assess the risk of failure to get your order delayed, your products non compliant. In some circumstances, even some financial credit check can be verified to evaluate the financial health of your vendor.

Several audit types can be implemented depending on the need and the area the international buyer want to focus on. Those area can be quality management such as an ISO 9001 audit type, corporate social responsibility with standard such as SA 8000, Sedex / Smeta, WRAP or BSCI, Environmental such as with ISO 14000, health and safety with OHS 18000, or even ISO 27001 to make sure your supplier is capable to manage confidential informations properly.

For specific industries some specific quality management audit standard may fit better than ISO 9001. For medical, ISO 13485 standard and guidelines will mostly be used, for automotive it will be ISO TS 16949, while for aerospace it would rather be AS 9100.

Out of those ISO standard, if an importer is willing to sell products to international retailers, then some specific standard to each retailer might be used. So Disney audit, Walmart audit, Costco audit, Nike audit, Target audit are mostly used when you want to sell your products imported from Asia and sold to those big retailers.

# Audit periodically to check the profile of your vendor didn’t change

If you are an experienced buyer frequently purchasing in Asia you will probably know the business manufacturing landscape can change quickly here. Hence, auditing frequently your vendor can be strategically smart in order to be kept updated about your supply chain.

An example I had in the past was the case of one manufacturer of consumer electronic I worked with for manufacturing a special type of consumer electronic product:

During the sourcing phase, I audited the manufacturer and noticed they had a SMT line with pick and place machines and reflow oven. At the audit time the machines were in use to solder SMD components on PCB. The manufacturer was capable to internalize the manufacturing process of the PCBA (assembly of components on blank PCB), hence controlling which component was soldered on the PCB and how soldering was done, hence having a decent supply chain control on the electronic part of the process. So, this manufacturer was short listed as a potential candidate and it indeed became one of our supplier.

A year and half later after placing several orders, I decided to audit again this supplier to see how the company was doing now. I was surprised when I audited because I discovered that the SMT line was not in used anymore (while machine were still present at the facility). Machines were off and the level of dust on the machines indicated that the manufacturer didn’t use the SMT line for a while whereas the manufacturer was still assembling parts to become products. In short, they had decided to sub-contract the SMT process to someone one else which they didn’t inspect regularly during product, hence partly loosing control on the supply chain. When I asked why they sub-contracted whereas they had the equipment to process SMT, they told me it was cheaper to process component soldering outside their company.

A few weeks later I actually discovered the manufacturer sub-contracted because they had decided to wipe off their engineering team to sub-contract the electronic engineering to a design company and that the design company didn’t sell the IP to the manufacturer but just the PCBA where they put their margin on the top of the BOM.

Auditing a bit every year some suppliers which are strategic in your supply chain can be a good idea to verify the evolution of their capability.

# Monitor your Ip with periodic audit

When you are already working with a supplier and placing order to them you may think that everything goes smooth. Yet sometimes it doesn’t and you don’t know it. I got an example of one client who had designed and patented a design for a very special kind of bike. The client appointed a big manufacturer of bike product to mass produce his special bike. Everything was going fine until two years later after placing order when he asked me to go visiting and auditing the supplier, process which he didn’t do before placing order.

Arriving on site, I conducted my audit like always I due. When I visited the production line, the client products where currently in production on one line. A few hundred meter away of this line, a bit isolated, was another line. I was curious so I went to have a look at what the manufacturer was doing there. I was surprised when I discovered the exact same product was manufactured but under another brand name which was the factory brand name. I quickly reported to the client to know if it was normal his product was manufactured under another name. He was also amazed and told me the manufacturer didn’t let him know about it…

In short, the manufacturer was producing for the client, but was also producing for the manufacturer brand without paying royalties and infringing patent and licensing from its own client.

If the client would not have asked me to lead an audit at the supplier facility, he would have never known his manufacturing « partner » was becoming his competitor….

# Conclusion

Supplier audit can be very useful to verify your supplier capability, social responsibility, health & safety, environmental responsibility implementation, quality management system and even financial health. On the top of it, it can help you to verify your supplier capability evolution over the time to make sure it doesn’t deteriorate. Finally, auditing your supplier on a regular basis can help you to keep an eye on your supplier to make sure your product is not copied by them.

If your supplier is strategic in your supply chain or in your procurement turn over, then I would recommend you to audit your supplier once a year ideally.

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wrenchy55-blog · 8 years ago

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Lets talk about the Nintendo Switch.

So we’ve had a little bit of time to simmer down and let the details come in for the Switch and its been a hot topic for a while, so lets talk about how the switch may do, what to expect from it and some personal fears.

tl;dr at the bottom of the page.

First up lets talk about the hardware itself. For £280 (I’ll be using the UK pricing for this) the Switch is packing a 6.2 inch screen running at a 1280x720 resolution, A built in 32GB memory (with room for SD cards), Two Joycons and the required side equipment and cables. At least Nintendo remembered the chargers this time.

I had some fears going into the switch that the Joycons would be too small for more intense use, character action games and fighters require alot of precise inputs and having a small controller could hinder that heavily. However early impressions seem to be positive and my fears can eased somewhat, whether the Joycons will still be suitable for more intense genres are yet to be seen. On that note the Pro controller also seems to serve as a standard alternative, although one that costs £65 which is quite alot for a controller, more on that in a bit.

Moving on lets talk about the battery related issues. The switch had been said to last around 3 - 6 hours unplugged with a roughly 3 hour charge time when not interacting with the system. Not bad all considering, about the same as other portable devices although it will be interesting to see how each game handles it. I have a feeling a lot of the games people will want to play on the go will be the ones that last 3 hours but that is just speculation.

last point of note is the storage, while Nintendo has confirmed that the Switch can support a 1TB SD card the situation leaves me questioning if the 32GB memory was a conscious decision or limitation. some reports suggest that Breath of the Wild will take up around half the memory on its own which makes the built in memory even more questionable. Was the Switch built expecting you to buy external memory, maybe Nintendos own variant or was that a decision further in development? its likely that this was a conscious decision all considering yet that leads to one of my fears with the switch...

How much do Nintendo expect us to pay in accessories? Taking into account various SD cards, the Pro controller, 2 more Joycons for if you want to go 4 player and the straps that can be up to £450 for the full experience, and that’s without taking into account games. On that note Nintendo has announced there will be no game bundles with the switch meaning you have to buy them separately which is odd considering its competitors models.

Overall on its own the switch is a fine piece of hardware for a fairly good price if we compare it to the launch prices of the PS4 and XB1, which we will be discussing later on, however whether that price is justifiable knowing how much extra you may have to pay is up to you. (For example in the UK a Switch plus Zelda combo will be £340)

Lets talk about games for a bit. The Nintendo Switch presentation demonstrated alot of potential for movement controls with the so called ‘HD Rumble’ technology, allowing for the supposed best experience ever created for said style of games. The gesture is nice however the question still stands: How much support will the Switch get?

On the movement horizon we have ‘1,2 Switch’ a party game launch title somewhat reminiscent of the Wario ware game, following that up is ‘ARMS’ sometime in spring, an interesting boxing game that shows quite a lot of promise and Just Dance 2017 which is...well its Just Dance not exactly groundbreaking but it has an audience...that seems to be it unless I am forgetting something. Only 3 real games using the movement features seems...weak, its almost like some developers don’t want to use them and see it as a gimmick...

Ignoring that we have the big guns in the form of Breath of the Wild, Mario Kart 8 Deluxe, Splatoon 2 and Super Mario Odyssey among other games yet to receive a release date like Xenoblade 2. A fairly solid line up for Nintendo fans with more to come in the form of SMT, Fire Emblem: Warriors and No More Heroes. While all of these show potential, BotW getting particular attention, the line up itself is rather spread out leaving alot of time to be filled with 3rd party titles.

The only problem being those 3rd party titles are also fairly thin, sure you have Skyrim for the 5 people who haven't played it and Fifa because why not and yet, the other big third party releases haven't really shown up. We will Likely have to wait until E3 but whats happening during that time to keep everyone going? Furthermore the rumours that Fifa is a last gen port doesn’t paint a pretty image for third party development in the future. It could just be that it wasn’t built with the switch in mind but that’s all speculation. I will hold out hope that future games will be built with the switch in mind but if not then I fear the Switch will go down the same road as the Wii U.

Outside of that I fear that Nintendo are banking too much on Zelda. don’t get me wrong, the game looks great however it is very clearly the set up to be the Switches killer app but without much to support it, the launch line up could spell doom for the console. On another note the Switch lineup seems to lack genre variety. Where as the Switch has plenty of JRPG’s on the horizon, wheres the fighting game? Where’s the shooters? PlayStation has Street fighter, Xbox has Killer instinct, Nintendo did have smash but that has no signs of being ported yet so where’s the game to grab that community? Similarly how do you convince for example the shooter crowd to choose the Switch over the other consoles? Splatoon is cool and all but its a niche and with exclusivity deals on lock for the competition how does Nintendo reel them in?

Last bit of note: Pricing. The retail price for Zelda, Splatoon and Mario are £60. the average retail price for a new release in £50, however games like ARMS and Mario Kart 8 Deluxe are at £50. This pricing mish-mash could work out horribly or very well in the long run. we will have to see.

Next up lets talk briefly about online play. From launch until sometime in the Fall season we will be able to use the Nintendo online features fully, including their online lobby and voice chat app, however after that you will be required to pay a fee, while we don’t know the price yet this system isn’t surprising considering its competition and yet it falls short.

While the Playstation Plus Service offers you 6 free games per month across 3 platforms along with early beta access and deals and Microsoft's Xbox Live Gold offers a similar suite along with backwards compatible games Nintendo seems to fall short by only offering you a free NES/SNES game per month, for that month, along side some discounts. The fact you don’t keep this game after the month makes this a even worse deal.

On another note the idea of a app being used for social interactions seems like a attempt to reach the phone/social media market without thinking of the competition in the form of Discord or other free apps that allow people across all consoles and devices to talk at once. Also the app hasn’t been confirmed to be on the Switch itself as of yet, which seems weird. Am I meant to have one ear bud from my phone and another from my Switch console? How is that practical?

Last but not least lets compare the market. A new switch (either colour) will set you back £280 without games. For £250 I can get a 500GB PS4 Slim (one of the newer models) with two games (in this case Overwatch and Ratchet and Clank, two good games by the way) and on the other side of the spectrum I can get a 500GB Xbox One S with Minecraft and Forza Horizon 3 for £240.

Also as mentioned before the average price for a new PS4/XB1 game is £50 vs Nintendos individually valued games.

My point here is that while the Switch will likely sell gangbuster numbers at launch, the competition is already comfortable at a cheaper price with more to offer and for non Nintendo fans, will the price justify the interest against these two with already available backlogs?

I have a question. Is the Switch, with its portable console image going to be the only Nintendo product going ahead? Will the 3DS be left in the dust along with its IP’s? While I don’t doubt there will be ports, after years of building up this brand suddenly phasing it out without much attention seems short sighted.

Overall the switch shows promise and don’t get me wrong I want it to be successful, I like Nintendo and alot of their IP’s but I worry the the Switch may be jumping in too quickly without enough to support it, also why is the online service happening half a year later? Is the Switch a rush to market situation? Does the Wii U/3DS not have enough life to last until winter? We will have to see.

tl;dr The switch shows plenty of promise as the hot new console set to take on the home and portable fronts, however its spread out approach, pricing and rather lackluster online service, especially when compared to its competition, may be the start of a bumpy road. One Nintendo has been trying to get off for a long time.

(Sorry for any spelling errors. This took awhile.)

#nintendo #nintendo switch #video games #ps4 #xbox one #mario #legend of zelda #breath of the wild #arms #discussion #switch #splatoon

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qcareelectronics · 3 years ago

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How to choose PCB Assembly services

PCB assembly includes various electronic components that allow the functioning of an electronic device. PCB assembly services comprise of multistage procedures that include putting components on a PCB board, soldering them into position, and testing and inspecting these components. PCB assembly is frequently outsourced by companies to a specialized company, as setting up a PCB assembly unit needs a substantial investment. There are many small components that assist to complete the circuit in a printed circuit board.

Most of the small and medium scale businesses generally depend on the services of a company that sell used SMT equipment online. There are various benefits of using the services of such a dealer. These comprise of:

• Save investment and labour charges: The capital investment in the PCB assembly unit is quite high. A company can conveniently outsource these expenses and save millions of dollars that would go in handling inventory, hiring labour, setting up operations, and maintaining their amenity and so on.

• Focus on core competencies: After outsourcing the non core activities to a third party, the company can now emphasize on its core competencies. It can also put in more endeavours for strengthening the sales d marketing and rand building and network. You may also have to look for a Pick and Place equipment to complete the process of PCB assembly.

While selecting a company for reflow oven or PCB manufacturing and assembly procedure, it is quite vital to make an informed decision and choice. Here are a few things to consider while selecting a partner for PCB assembly services:

• Your main concern should be whether the selected company is equipped with the latest SMT management abilities. These are the latest standards in the PCB industry.

• Eventually, it is important to make sure that the company offers all the related services.

#Sell used SMT equipment online #Pick and Place equipment #Reflow oven