Finance Minister announces Rs 3 lakh crore collateral free automatic loan for businesses

Agencies
May 13, 2020

New Delhi, May 13: Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral-free automatic loan for businesses, including MSMEs.

This will benefit 45 lakh small businesses, she said detailing parts of the Rs 20 lakh crore economic stimulus package.

The loan will have 4-year tenure and will have a 12-month moratorium, she said.

Also, Rs 20,000 crore subordinated debt will be provided for stressed MSMEs, she said adding this would benefit 2 lakh such businesses.

The Finance Minister said a fund of funds for MSME is being created, which will infuse Rs 50,000 crore equity in MSMEs with growth potentials.

Also, MSME definition has been changed to allow units with investment up to Rs 1 crore to be called micro-units in place of Rs 25 lakh now.

Also units with turnover up to Rs 5 crore to be called micro-units, she said, adding a turnover based criteria is being introduced to define small businesses.

The investment and turnover limits for small and medium businesses have likewise been raised to allow them to retain fiscal and other benefits, she said.

Global tenders will be banned for government procurement up to Rs 200 crore, she said, adding this would help MSMEs to compete and supply in government tenders.

Comments

JM
 - 
Thursday, 14 May 2020

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

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News Network
November 29,2024

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Mangaluru: Nearly half of Dakshina Kannada's coastline is facing significant erosion, according to a recent response in the Lok Sabha to a question raised by MP Captain Brijesh Chowta. The data, provided by the Ministry of Environment, Forest and Climate Change (MoEFCC), reveals that between 1990 and 2018, 48.4% of Dakshina Kannada's total coastline of 36.6 km has been eroded.

The written reply, issued by Kirti Vardhan Singh, Minister of State in the MoEFCC, addressed Captain Chowta's query on the impact of sea-level rise and coastal erosion, particularly in Karnataka. The MP had inquired about studies assessing the rise in sea levels and their effect on the coastal regions, as well as the government's plans to mitigate the threats posed by erosion.

While the erosion rate in Dakshina Kannada is notably high, the response highlighted that Karnataka's overall coastal situation is less alarming. Approximately 50% of the state’s coastline remains stable, with 26% undergoing accretion (growth) and 24% experiencing erosion. This data, compiled by the National Centre for Coastal Research (NCCR), is based on a study conducted from 1990 to 2018, using satellite images and field surveys.

The NCCR's findings indicate that 33.6% of the Indian coastline is affected by erosion, with 26.9% in a state of accretion, and 39.6% remaining stable. In Dakshina Kannada, erosion has impacted 17.7 km of its 36.6 km coastline. Uttara Kannada and Udupi districts are similarly affected, with erosion covering 21.6 km and 34.9 km of their respective coastlines.

In response to these concerns, the central government is actively implementing measures to combat coastal erosion and protect vulnerable communities. The Karnataka government has developed a Shoreline Management Plan in compliance with the CRZ notification of 2019. Additionally, under the Karnataka Strengthening Coastal Resilience and Economy (K-SHORE) project, supported by the World Bank, the state is working to enhance coastal protection, improve coastal infrastructure resilience, boost the livelihoods of coastal communities, and address marine plastic pollution.

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News Network
November 26,2024

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The extremist Israeli finance minister has called for the occupation of the Gaza Strip and halving the population of the Palestinian territory that is reeling from almost 14 months of genocide.  

Bezalel Smotrich, who has a history of racist statements against Palestinians, made the controversial remarks during a conference of the Yesha Council settler group on Monday.

“We can occupy Gaza and thin the population by half within two years,” through encouraging the so-called “voluntary emigration," he said.

The racist minister also urged the Tel Aviv regime to use its favorable ties with the incoming administration of US President-elect Donald Trump to implement the plan.

“Occupying Gaza is not a dirty word,” he further claimed.

Once the success of the “voluntary emigration" is proven in the besieged Gaza Strip, it can be replicated in the occupied West Bank, he added.

Last month, Smotrich urged the full annexation of the West Bank and Gaza, asserting that Israel should unequivocally declare there would be no Palestinian state.

Israel launched its brutal Gaza onslaught on October 7, 2023, after the Palestinian Hamas resistance group carried out a historic operation against the usurping entity in retaliation for its intensified atrocities against the Palestinian people.

However, nearly 14 months into the offensive, the Tel Aviv regime has failed to achieve its declared objectives of finding captives held in Gaza and eliminating Hamas.

So far, the occupying regime has killed at least 44,235 Palestinians, mostly women and children, and injured 104,638 others, in Gaza. 

It has been committing the war crimes of starvation and of intentionally directing attacks against the civilian population in the besieged territory.

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News Network
November 30,2024

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Bengaluru, Nov 30: The Bengaluru police have unraveled the brutal murder of Assam-born vlogger and counselor Maya Gogoi, apprehending her boyfriend-turned-assailant, Aarav Hanoy, from Devanahalli on the city’s outskirts. Aarav, a Kerala native, confessed to the crime, citing a personal quarrel as the trigger for his actions.

“We are still verifying his statements to determine whether the murder was premeditated. Scientific validation will help us establish the exact motive,” stated DCP (East) Devaraju.

A Sinister Timeline

The investigation revealed that after the crime, Aarav fled the scene, traveling extensively across Madhya Pradesh and Uttar Pradesh before returning to Bengaluru. Using CCTV footage and tracking efforts, police located him near Devanahalli, where he was arrested on Friday.

Aarav and Maya had checked into a service apartment on November 23. A heated argument led Aarav to stab Maya to death using a knife he had ordered online along with a nylon rope. After the murder, Aarav shockingly spent two days in the apartment with Maya's lifeless body, reportedly smoking cigarettes in front of the corpse before fleeing the scene on November 26.

The Relationship and the Crime

Aarav and Maya met six months ago via the Bumble app, leading to a relationship. Aarav, an intern earning Rs 15,000 monthly, had been in Bengaluru for six months, while Maya worked at counseling centers in Jayanagar and HSR Layout. Maya’s sister, who lived with her, was aware of the relationship.

On November 22, Maya informed her sister she wouldn’t be returning home, citing an office party. The following night, she messaged again, stating she was out partying. CCTV footage from the apartment shows Maya entering the room with Aarav, appearing cheerful and at ease.

Police Action and Next Steps

The police deployed three teams, with one tracking Aarav in Kerala and another in North Karnataka. After extensive efforts, they arrested him in Devanahalli. “The formalities of the arrest will be completed by tomorrow, and we’ll take him into custody for further investigation,” the DCP said.

The shocking crime, discovered within the Indiranagar police station limits on November 26, has sent shockwaves through the city. Investigators are piecing together the sequence of events as further details emerge in this harrowing case.

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