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<ul><li>India is on the threshold of setting up a new national bank that will raise money to fund long-term infrastructure projects, which typically have high risk and low payout.</li><li>The bank plans to overcome the issues of funding projects by allowing pension funds, insurance funds, sovereign funds and foreign investors to provide capital.</li><li>However, experts believe that there is more than just the absence of money plaguing the lack of money for infrastructure in India.</li></ul>The Indian government is on the cusp of setting up a new bank that will raise money from big pension funds, insurance funds, sovereign funds and foreign funds to invest in long-term infrastructure projects. Indeed, India’s infrastructure deficit is mammoth and it needs money. However, there is a lot else that impedes such projects in India. <div type="Article" hostid="261" msid="81530506" title="India sets up a new bank for big infrastructure projects as it aims to raise $41 billion in a few years" mstype="2" mssubtype="0"></div> According to global research firm Phillip Capital, lack of funds is why 17% of projects within the manufacturing industry in India have stalled. And, even though there has not been an uptake in the number of projects, which are on hold right now — there haven’t been any new major projects announced either in the last nine months. So money is not the only issue at hand for the Narendra Modi administration. <div type="image" title="reasons for delay" msid="81549201" hostid="261" caption="&amp;lt;p&amp;gt;Top reasons for delays in infrastructure projects in India&amp;lt;/p&amp;gt;"></div> The Union Budget 2021 provides capital infusion of ₹20,000 crore and an initial grant of ₹5,000 crore. According to Sitharaman, the government expends the <keyword id="51937" type="COMPANY" weightage="20" keywordseo="DFI">DFI</keyword> to raise up to ₹5 lakh crore in the next three years because it can access the market and capitalise on funds that are not otherwise available. "This will add up to the long-term financing sustainability of DFI in comparison to commercial banks which typically do not have the bandwidth to off long-term capital for infrastructure projects," Arun Kumar, a partner at legal firm IndusLaw, told Business Insider India. That may sound ambitious but ₹5 lakh crore is not even 5% of the kind of investment that India needs. The National Infrastructure Pipeline (NIP) has identified 7,000 projects that require over ₹111 lakh crore in investment in core sectors like power, roads, railways, and urban projects over the next five years, which means, the private sector has to chip in with the big bucks. "Without a subsidy it is financially unviable for the private sector to invest in infrastructure and therefore it is the state which should spearhead infrastructure," banking analyst Hemidra Hazari told Business Insider India. Ghosts of the past Everyone in India knows that its banks are saddled with bad loans. A big chunk of these unpaid loans were doled out during a similar thrust for building infrastructure. “The bank led infrastructure financing strategy from 2003 to 2008 has resulted in an NPA mess,” Varun Malhotra, director and founder of Edge Institute of Financial Services (EIFS) — a financial education institution — told Business Insider. <div type="image" title="Copy of india&amp;#39;s economic growth(1)" msid="81549216" hostid="261" caption="&amp;lt;p&amp;gt;NPAs with domestic banks in India over the last six years&amp;lt;/p&amp;gt;"></div> According to Abhishek Saxena — the co-founder and partner of Phoenix Legal — the DFI will also need to have adequate risk mitigation strategies in place and recruit human capital with the right set of skills to be able to identify good projects for lending. “The DFI will need to ensure availability of funds with long tenure at low cost to avoid asset liability mismatches of the past which resulted in past lending turning into NPAs,” he said. Disinvestment on one hand and DFI on the other The resounding consensus in India’s capital markets these days ⁠— echoed by none other than the Prime Minister himself⁠ — is that the government has no business being in business. Therefore, from LIC to IDBI to Coal India, the government has put its stake in many state-owned companies up for sale. On the other hand, this mega infrastructure drive is being led by the government itself. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ministry </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target 2021-22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Assets </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Railways </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹90,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50 stations and 150 private passenger trains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telecom </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹40,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telecom assets of BSNL, MTNL and Bharatnet </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Road Transport and Highways </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Road length of over 7,000 kilometres </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹27,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Transmission assets of Power Grid </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Youth Affairs and Sports </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sports stadia </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Civil Aviation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13 airports under the Airports Authority of India (AAI) and AAI’s stake in Delhi, Mumbai, Bangalore and Hyderabad airports </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Petroleum and Natural Gas </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹17,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pipelines of GAIL, IOCL and HPCL </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shipping, Ports and Waterways </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Over 30 berths </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Two public sector banks and LIC </td></tr></tbody></table>Source: <a href="https://indianexpress.com/article/business/assets-monetisation-economy-privatisation-7231656/" id="docs-internal-guid-c7b8aabb-7fff-4870-fe74-d96c439ce7bf">IndianExpress</a> This is not the first time that India has done this experiment. The Industrial Finance Corporation of India (IFCI), Industrial Credit and Investment Corporation of India (ICICI) and the Industrial Development Bank of India (IDBI) were established to provide long-term financing between 1948 to 1964. “Financial markets, especially debt markets are quick to emerge, when the opportunities arise. The problem with infrastructure is usually, and more certainly in India, with the sector as such — regulatory and policy uncertainties, allocative inefficiencies arising out of governmentís influence in investment decisions — than in the need for special financial dispensation for infrastructure,” said Infrastructure Development Finance Company (<a href="http://www.idfc.com/pdf/report/IIR-2001.pdf">IDFC</a>) in a report it released in 2001. When the above argument found enough takers, the <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword>’s (RBI) ‘support’ offered to these banks — built to develop India’s infrastructure — was withdrawn in the 90s. The banks had to face market-based rates, leading to their inevitable downfall. Since then, commercial banks have had to pick up the slack and their capacity to take on risk was limited. The argument has come a full circle since then. “The best answer to this infrastructure financing problem would be a vibrant debt market where long-term bonds can be issued. But in the absence of such a bond market, the idea of setting up a DFI for funding infrastructure projects of national importance is not a bad idea,” Malhotra explained. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/zerodha-founder-nikhil-kamath-flipkart-ceo-kalyan-krishnamurthy-and-others-buyout-chinese-investor-shunwei-capital-stake-in-koo-app/articleshow/81548852.cms">A flurry of Indian A-list entrepreneurs buyout Chinese investor Shunwei Capital’s stake in Koo – the microblogging site that’s taking on Twitter</a> <a href="https://www.businessinsider.in/tech/news/elon-musk-turns-down-1-million-for-the-tweet-he-was-selling-as-an-nft/articleshow/81546434.cms">Elon Musk turns down $1 million for the tweet he was selling as an NFT</a> <a href="https://www.businessinsider.in/stock-market/news/nazara-technologies-ipo-opens-today-should-you-subscribe/articleshow/81542657.cms">Nazara Technologies will be the first pure-play gaming company to debut on the Indian public markets – analysts are all in for it</a>

India hopes that more money will bridge the infrastructure gap⁠ but many believe that may not be enough

<ul><li>The Indian government has given its stamp of approval to set up a new national bank that will fund the country’s long term infrastructure and development projects.</li><li>According to <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword>, India’s finance minister, the government is hoping that the <keyword id="10938088" type="UNKNOWN" weightage="20" keywordseo="development-fund-institution">Development Fund Institution</keyword> (DFI) will raise ₹3 lakh crore over the next few years.</li></ul>India’s Finance Minister Nirmala Sitharaman announced that the Indian government has approved the setting up of a Development Fund Institution (DFI). The new national bank will use the markets to raise capital and put those funds into long-term projects. These are projects that take as long as 15 to 20 years to be executed. “Both developmental and financial objectives will matter for setting up a DFI,” said Sitharaman during a press conference. The Union Budget 2021 provides capital infusion of ₹20,000 crore and an initial grant of ₹5,000 crore. According to Sitharaman, the government expends the DFI to raise up to ₹3 lakh crore in the next few years because it can access the market and capitalise on funds that are not otherwise available. Wooing new investors for risky business Between 1948 to 1964, three banks were established to provide long-term financing — the Industrial Finance Corporation of India (IFCI), Industrial Credit and Investment Corporation of India (ICICI) and the Industrial Development Bank of India (IDBI). Three decades down the line the Reserve Bank of India (RBI) withdrew the concessional funding it was providing in the form of longer-term operation (LTO) funds. As a result, these banks were subjected to market-based rates leading to their inevitable downfall. “There have been at least three to four attempts in India to have alternative investment funds… We ended up with no bank that could take up the long term risk and fund development,” said Sitharaman. The new institution is based on the building blocks of the National Infrastructure Investment Fund (NIIF). The <keyword id="128649" type="PERSON" weightage="20" keywordseo="Indian-Stamp-Act">Indian Stamp Act</keyword> has also been amended so as to allow big pension funds, sovereign funds, and insurance funds to put in their money. The aim is that longer-term funds will be better placed to fund long-term projects, which face higher risk than short-term projects. “The government is also planning to give certain securities with which the cost of funds will come down. I also think this will lead to a positive impact on the bond market in India,” said Sitharaman. Industrialists have wanted this for a while This kind of a lending body was one of the demands from the industry for a while. The COVID-19 pandemic brought it to the forefront again as the flow of credit tightened. Industrialists like <keyword id="6411578" type="PERSON" weightage="20" keywordseo="ajay-piramal">Ajay Piramal</keyword>, owner of the Piramal group — which has interests from glass manufacturing to real estate to financial services — had expressed his desire for a DFI, in an <a href="https://www.businessinsider.in/finance/banks/news/ajay-piramal-believes-that-if-banks-wont-lend-to-long-term-projects-india-will-need-to-revive-the-likes-of-idbi-and-ifci/articleshow/78906135.cms">exclusive conversation with Business Insider</a> in October, last year. According to Sitharaman, there are around 7,000 projects in the infrastructure pipeline. The board will decide which projects will be taken up on priority basis and which ones will get their funding later. The proposed board behind this new national bank will consist of professionals and at least half of them will be non-official directors. “The powers of the board will be drawn so that it can remove or appoint the full-time directors,” said the finance minister. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/astrazeneca-covid-19-vaccine-controversy-from-india-to-europe/articleshow/81527932.cms">AstraZeneca’s COVID-19 vaccine controversy explained — from suspension in Europe to India’s stance</a> <a href="https://www.businessinsider.in/finance/banks/news/banks-are-not-liable-to-cough-up-payments-if-you-have-been-a-victim-of-fraud-or-scams/articleshow/81526097.cms">Banks are not liable to cough up payments if you have been a victim of fraud or scams</a> <a href="https://www.businessinsider.in/business/corporates/news/kalyan-jewellers-kicks-off-its-1175-crore-ipo-in-india/articleshow/81524972.cms">Kalyan Jewellers kicks off its ₹1,175 crore IPO but buyers may want to strap in for the long haul</a>

India sets up a new bank for big infrastructure projects as it aims to raise $41 billion in a few years

Defence Minister <keyword id="6355121" type="General" weightage="20" keywordseo="rajnath-singh" source="Orion">Rajnath Singh</keyword> on Monday inaugurated the Bharat Drone Shakti-2023 exhibition at the Hindan Air Base in Uttar Pradesh's Ghaziabad. The mega drone show is being hosted by the <keyword id="15141" type="General" weightage="50" keywordseo="indian-air-force" source="Orion">Indian Air Force</keyword> (IAF) and the <keyword id="9775580" type="General" weightage="50" keywordseo="drone-federation-of-india" source="Orion">Drone Federation of India</keyword> (DFI). After inaugurating the Bharat Drone Shakti-2023 exhibition, Defence Minister and Air Chief Marshal VR Chaudhari witnessed the prowess of the Indian drone industry. Bharat Drone Shakti 2023 hosted live aerial demonstrations of a variety of drone operations and applications by various drone companies. Addressing the gathering, Wing Commander Sonam Bakshi gave an opening to the live aerial demonstrations saying, "Wakif kaha zamana hamari udaan se, Wakif kaha zamana hamari udaan se vo aur the, Jo haar gaye aasaman se." What was on display The first demonstration displayed a compact system of <keyword id="94769" type="General" weightage="20" keywordseo="drones" source="Orion">drones</keyword> that can be carried on a motorbike. Special motorbikes are customised to carry unassembled drones. Kisan drones can be transported using motorbikes across rural terrain to introduce modern agricultural practices. Following this, the Defence Minister and Air Chief Marshal witnessed drones with the capability to carry 50kg-100 kg payload. Additionally, the officials also witnessed the display of a Kamikaze drone during Bharat Drone Shakti-2023 at the Hindon Airbase. Notably, the IAF, recognizing the potential of indigenous drone design and development, is collaborating with the Drone Federation of India (DFI) to jointly host Bharat Drone Shakti 2023. This event, scheduled for September 25 and 26, will take place at the IAF's Hindan airbase in Ghaziabad and will feature live aerial demonstrations. In India, the utilization of drones is on the rise, spanning across military and civilian applications. Drone technology has rapidly transformed both civil and defence sectors, enhancing efficiency, reducing risk exposure, and elevating capabilities, said a press release. The IAF has extensive experience in deploying Remotely Piloted Aircraft for Intelligence Surveillance and reconnaissance operations. To harness the burgeoning drone technology sector in India, the IAF initiated the Meher Baba Swarm Drone competition, showcasing its faith in the nation's drone capabilities, according to the release. Now, with Bharat Drone Shakti 2023, the IAF is poised to further leverage this expertise. Bharat Drone Shakti 2023 promises to spotlight the full potential of the Indian drone industry, with an impressive lineup of over 50 live aerial demonstrations. These demonstrations will encompass a diverse range of drone applications, including survey drones, agriculture drones, fire suppression drones, tactical surveillance drones, heavy-lift logistics drones, loitering munition systems, drone swarms, and counter-drone solutions, said the release. The event will also witness the active participation of more than 75 drone start-ups and corporate entities. Anticipated to draw approximately 5,000 attendees, Bharat Drone Shakti 2023 will serve as a convergence point for a wide spectrum of stakeholders. Representatives from central government agencies, state departments, public and private industries, armed forces, paramilitary forces, friendly foreign countries, academic institutions, students, and drone enthusiasts are expected to grace the event, said the release. This collaboration between the Indian Air Force and the Drone Federation of India underscores the commitment to advancing drone technology and its applications in India. The event promises to showcase the capabilities of Indian drones and provide a platform for networking, knowledge exchange, and collaboration among industry leaders, innovators, and enthusiasts. Bharat Drone Shakti 2023 marks a step towards harnessing the full potential of this transformative technology for the nation's benefit. (ANI)

Defence Minister Rajnath Singh inaugurates Bharat Drone Shakti show

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The logo on the sides of the shoes uplifts the look and enhances the style.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B08J7R8RTK_8021299697497125"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The slip-on design makes them easy to wear.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B079QNLB8N" columns="1"><bulletContentHeading name="B079QNLB8N_head"><div type="image" title="Closed Toe" msid="89877944" hostid="261"></div></columnHeadThumb>B079QNLB8N</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B079QNLB8N_body"><bulletContentRow name="B079QNLB8N_3048395426583122"><bulletContentRowHeading><bulletContentRowHead col="1">Hush Puppies Men Corso Oxford Leather Formal Shoes</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">These shoes from Hush Puppies are a suitable option to wear as it comes with a 1-inch heel design. The closed-toe style with lace-up closure, these shoes should provide the comfort of wearing. Sole made of leather material gives an elegant look and elevates the level of comfort.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B079QNLB8N_9038945329297469"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The lace-up closure lets you tighten according to your requirement.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B07QFDQS5G" columns="1"><bulletContentHeading name="B07QFDQS5G_head"><div type="image" title="Durable Design" msid="89877999" hostid="261"></div></columnHeadThumb>B07QFDQS5G </columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B07QFDQS5G_body"><bulletContentRow name="B07QFDQS5G_1038562987234646"><bulletContentRowHeading><bulletContentRowHead col="1">Lee Cooper Men's Leather Shoes</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Available in different colours and sizes, these shoes from Lee Cooper are a perfect option for those who are looking for a lace closure design. With a medium shoe width, they offer comfort while wearing. To enhance the overall look, it comes with a heel design.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B07QFDQS5G_6497195205886941"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The high-quality material used makes them last for a longer time.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B082DFY92X" columns="1"><bulletContentHeading name="B082DFY92X_head"><div type="image" title="Sturdy Design" msid="89878059" hostid="261"></div></columnHeadThumb>B082DFY92X</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B082DFY92X_body"><bulletContentRow name="B082DFY92X_3775747798256201"><bulletContentRowHeading><bulletContentRowHead col="1">Nubeno Men's Formal Shoes&lt;br&gt;</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Crafted with faux leather, these shoes from Nubeno feature a regular shoe width design. The check design on the shoes give an attractive look and should complement your style. Also, with a comfortable heel height and support, the shoes are suitable to be worn for long durations.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B082DFY92X_0662302423529241"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">These shoes from Nubeno are a good option to wear in the formal meetings.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed>

Best brown shoes for men in India

For kids, consuming fluids from a sipper is a transitional step towards growing. To prevent spillage and make the baby comfortable using a regular cup, you must put them into the habit of using a sipper first. With their covering lid, it becomes easy to drink and helps prevent dust and impurities away. To find the right sipper for your baby, we have shortlisted some best sippers from Amazon. <bulletContentEmbed name="B00WJNITLS" columns="1"><bulletContentHeading name="B00WJNITLS_head"><div type="image" title="Firm Grip" msid="86466672" hostid="261"></div></columnHeadThumb>B00WJNITLS</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B00WJNITLS_body"><bulletContentRow name="B00WJNITLS_1271177648964693"><bulletContentRowHeading><bulletContentRowHead col="1">Philips Avent Silicone Rubber Classic Soft Spout Cup</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Ideal for 6-months plus baby, this sipper from Philips features a soft silicone spout to ensure easy and comfortable drinking. Its ripped texture and handles make it convenient for the baby to hold with a firm grip. Made from BPA free and non-toxic material, the sipper is safe for the baby. Also, for convenient cleaning, it is safe to use in a dishwasher.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B00WJNITLS_0704099339574408"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Its design makes it easy to hold by little hands.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B078HC6SGF" columns="1"><bulletContentHeading name="B078HC6SGF_head"><div type="image" title="Detachable Handles" msid="86466729" hostid="261"></div></columnHeadThumb>B078HC6SGF</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B078HC6SGF_body"><bulletContentRow name="B078HC6SGF_3652482258422835"><bulletContentRowHeading><bulletContentRowHead col="1">Luvlap Hippo Spout Sipper for Infant</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">This <keyword id="8870687" type="General" weightage="20" keywordseo="baby-sipper" source="Orion">baby sipper</keyword> from Luvlap provides comfort to the babies with a spill-proof design. The BPA free, food-grade and non-toxic material make it safe for the baby. Its soft silicone spout and touch-flow valve ensure easy sipping. It comes with detachable twin handles and is dishwasher safe and suitable for sterilisation.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B078HC6SGF_2125204796295980"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The touch-flow valve prevents spillage.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B06XTHHY3W" columns="1"><bulletContentHeading name="B06XTHHY3W_head"><div type="image" title="Durable Build" msid="86466776" hostid="261"></div></columnHeadThumb>B06XTHHY3W</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B06XTHHY3W_body"><bulletContentRow name="B06XTHHY3W_0827574539078444"><bulletContentRowHeading><bulletContentRowHead col="1">Mee Mee Spout and Straw Sipper Cup</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">This 2-in-1 convertible baby sipper from Mee Mee is ideal for babies above 6months. Approved by International safety standards and made from BPA free material, it ensures the safety of the babies. With the high durability of the silicone spout, it prevents spillage. Its detachable grip handles provide a better grip. Also, the cap protects the spout from germs and dust.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B06XTHHY3W_0278095564611110"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">It features a spout and a straw for babies of different age groups.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B08DFY8KH3" columns="1"><bulletContentHeading name="B08DFY8KH3_head"><div type="image" title="Spill-Proof" msid="86466806" hostid="261"></div></columnHeadThumb>B08DFY8KH3</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B08DFY8KH3_body"><bulletContentRow name="B08DFY8KH3_2470954103101785"><bulletContentRowHeading><bulletContentRowHead col="1">R for Rabbit Premium Bubble Sipper</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Made from BPA Free PolyPropylene material, this baby sipper from R for Rabbit keeps the baby safe. Its spill-proof design makes it comfortable for the baby to drink in any position. It features two handles for comfortable holding. Also, for convenient cleaning, it comes with a wide neck.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B08DFY8KH3_4812953732571186"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Its spill-proof design makes it convenient to carry.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B0742747KV" columns="1"><bulletContentHeading name="B0742747KV_head"><div type="image" title="Easy Dismantling" msid="86466884" hostid="261"></div></columnHeadThumb>B0742747KV</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B0742747KV_body"><bulletContentRow name="B0742747KV_7023618978856195"><bulletContentRowHeading><bulletContentRowHead col="1">U-Grow Baby Bear Feeding Learning Sipper Cup with Handle</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Feed your baby with this baby sipper from U-Grow. Ideal for babies of nine months plus age group. With a top lid and leakage-proof design, it prevents spillage and is convenient to carry. For easy cleaning, it can be dismantled conveniently. The double handle brings support and comfort while holding.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B0742747KV_8900867254618747"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">With its leakage-proof design, it ensures the baby drinks without any spillage.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B083NS5WVX" columns="1"><bulletContentHeading name="B083NS5WVX_head"><div type="image" title="Ergonomic Design" msid="86466936" hostid="261"></div></columnHeadThumb>B083NS5WVX</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B083NS5WVX_body"><bulletContentRow name="B083NS5WVX_8243076409652987"><bulletContentRowHeading><bulletContentRowHead col="1">BeeBaby Soft Silicone Spout Sippy, Sipper Cup for Baby</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Ergonomically designed, this baby sipper from BeeBaby provides the comfort of holding for both mother and baby. Its 100% BPA free food-grade plastic material and silicone material makes it safe to use. To maintain hygiene and keep the spout dust-free it comes with a protective cap. The spill-proof and dustproof design make it a good option to carry while travelling.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B083NS5WVX_9584479655717413"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">It provides comfort, safety and hygiene for the baby.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed>

Best baby sipper for water and milk in India

<ul><li><keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> needs a lot more banks and a lot more large sized ones to meet the growing needs of the country, says Finance Minister <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> said on Sunday.</li><li>Speaking at 74th Annual General Meeting of Indian Banks' Association at Mumbai, Sitharaman said there was an urgent need to scale up banking to meet the growing needs of the industry.</li><li>Having done two rounds of bank consolidation earlier, the Central government in 2019 decided to merge six disparate and weak PSBs into four in one stroke.</li></ul>India needs a lot more banks and a lot more large sized ones to meet the growing needs of the country needs in the path of making a smart recovery post pandemic disruptions, Finance Minister Nirmala Sitharaman said on Sunday. Speaking at 74th Annual General Meeting of Indian Banks' Association at Mumbai, Sitharaman said there was an urgent need to scale up banking to meet the growing needs of the industry and also to ensure that all economic centres of the country are covered with at least one physical or digital banking presence. "We need to scale up banking. The need is for at least four-five more SBI sized banks," she said, while reminding that the amalgamation exercise among public sector banks have helped in moving ahead with creation of large banks. Having done two rounds of bank consolidation earlier, the Central government in 2019 decided to merge six disparate and weak PSBs into four in one stroke. Accordingly, <keyword id="62034" type="General" weightage="20" keywordseo="punjab-national-bank" source="Orion">Punjab National Bank</keyword> (PNB) took over <keyword id="111832" type="General" weightage="20" keywordseo="oriental-bank-of-commerce" source="Orion">Oriental Bank of Commerce</keyword> and United Bank of India; Allahabad Bank became part of Indian Bank; Canara Bank subsumed Syndicate Bank; and Andhra Bank and Corporation Bank merged with <keyword id="63524" type="General" weightage="20" keywordseo="union-bank-of-india" source="Orion">Union Bank of India</keyword>. Earlier, <keyword id="6354731" type="General" weightage="20" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword> (SBI) with five of its associate banks while Vijaya Bank and Dena Bank were merged with Bank of Baroda. Sitharaman lauded the efforts of the PSBs to see through that the amalgamation of banks during the pandemic period was completed without any inconvenience to customers. She said that that in the post pandemic world, hanks would need to change their mindset and the way they conduct their businesses. Digitisation, the Finance Minister said has changed a lot of how businesses are done and banks will now need to think futuristically and keep pace with evolving technology. Sitharaman also asked the IBA to conduct a digitised mapping of each district of the country with regard to presence of bank branch operation and their location. This, she said, would help to plug areas of gaps with no banking presence effectively. "Not necessary to have physical banking presence everywhere. The country's optic fibre network has covered two-third of about 7.5 lakh panchayats. This could be used to deliver banking services in unconnected areas as well," the Finance Minister said. She also asked banks to develop models and better understanding of businesses focused on exports as country has set a $2 trillion export target by 2030. With regard funding for the infra sector, she said that a government sector development financial institution (DFI) is coming up soon. Sitharaman said that Indian economy is at a critical stage of a reset and banks would form the backbone for it by providing best of the financial services. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/highlights-of-prime-minister-narendra-modis-speech-at-the-unga-today/articleshow/86510462.cms">Indian Prime Minister Narendra Modi makes his points on China, Afghanistan and Pakistan at the United Nations General Assembly</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/freshworks-ceo-girish-mathrubootham-shares-someone-said-i-will-be-nothing-but-a-rickshaw-puller/articleshow/86507840.cms">WATCH: "Someone said I am good enough to be a rickshaw puller," shares Freshworks CEO Girish Mathrubootham in a candid chat</a>

India needs 4-5 more SBI sized banks, says Nirmala Sitharaman

By Deepak PatelNew Delhi, Apr 13 () With India under lockdown to stem the spread of coronavirus, drones are proving to be a crucial tool in the functioning of law enforcement authorities and other government agencies which are deploying these Unmanned Aerial Vehicles for carrying out surveillance, sanitisation and to reach out to people, minimising the risk of infection for their personnel.While Gujarat Police is using 200 drones across the state to monitor people's movements, Delhi Police has deployed them to ensure people follow social distancing in Asia's largest fruit and vegetable wholesale market Azadpur Mandi. Municipal authorities in Madurai are utilising them to disinfect areas near the coronavirus wing of a city hospital.These are only a few examples of UAVs being used in the fight against coronavirus.However, government agencies aren't the only ones to tap into technology in these tough times, media organisations are also using drones to show people confined indoors the impact of the world's biggest lockdown."It is fair to assume that out of 20,000 drones registered with the government, about 450-500 drones are already being used all across India to assist different states and law enforcement agencies," Smit Shah, Director - Partnerships, Drone Federation of India (DFI) told .The DFI is an industry body that has companies like Asteria Aerospace, Quidich Innovation Labs, AutoMicroUAS, Aarav Unmanned Systems and Indrones as its members."Drone startups have come out and extended their support to the government on a no-cost basis. Most of the drone service providers are not charging for the services they are providing," Shah noted.India has remained under lockdown since March 25 to contain the spread of COVID-19, the disease caused by coronavirus, which has so far infected 10,815 people and claimed 353 lives in the country.On Tuesday, Prime Minister Narendra Modi announced that the lockdown, which was originally for 21 days, will be extended by 19 days to May 3 as the measure has produced a significant outcome in containing the infection.Shah said drones are being used for carrying out a host of tasks like surveillance to ensure that people are maintaining social distancing, spreading awareness about COVID-19 in densely populated areas, spraying disinfectants and checking people's temperature.During the initial days of the lockdown, drones were used by the Jammu and Kashmir administration to announce restrictions on movement of people in Srinagar's busy Lal Chowk.Delhi Police is also using drones to monitor people's movements in Ghazipur Mandi, which witnesses a steady stream of buyers throughout the day.The municipal corporation of Warangal in Telangana has collaborated with a private company, Binford Robotics, to deploy its UAVs for surveillance and spraying disinfectants in the city.According to experts, as the number of coronavirus cases in the country mounts, the use of the UAVs is also expected to rise.Ankit Mehta, co-chair of a FICCI committee on drones, told , "Right now, the need of the hour is that the Ministry of Home or state police departments should take a call on whether they need drones with megaphones as a reinforcement tool, otherwise their containment strategies won't work.""This is the time to go for mass procurement and leverage the entire drone production capability of the country. It will take us two-three weeks to start delivering," said Mehta, who is also the CEO of ideaForge, a drone manufacturing company.He called for stepping-up the use of drones."Containment zones are going to be around for a while, and they are going to extend because it is a contagious virus. What is required is 24x7 deployment of drones for surveillance to enforce containment and not sporadic usage."My estimate is that we have 640 districts. If about 2,000 drones are inducted, assuming that each district needs around 3 drones, we can enable a broad level of persistent surveillance in the major containment zones," he said.Mehta said several state police departments are already customers of ideaForge and they had procured surveillance drones well before the lockdown."Some of these departments, which were planning to place orders with us, have asked us to deliver drones quickly since the beginning of lockdown," he said.DFI's Shah, however, recommended incentivising the approximately 20,000 drone operators who are registered with the Ministry of Civil Aviation."This would be much more cost-effective for the governments as against procuring new drones at this time as that would involve management of equipment, training programmes and capacity building, which might not be feasible as of now," he said.For media organisations too drones are proving to be a boon at a time when many parts of the country have been sealed and are out of bounds for outsiders.Remote-controlled UAVs allow media organisations to shoot videos or click photographs and cover various aspects of the lockdown.For instance, The Times of India's Chennai supplement on Sunday posted online a 5-minute video, which was shot using drones, showing how the once-bustling city has come to a standstill during the lockdown.A senior executive of a news organisation said the media companies in India generally use "micro drones", which weigh between one to two kgs."The drones are registered with the central government. Before deploying them, a news organisation generally takes permission from the local police department," the executive said.News organisations also make sure that while recording a video, the drone does not enter any restricted areas like an airport's airspace, etc, the executive noted. DSP DIV

Drones: The invincible frontline workers in India's fight against coronavirus

<ul><li>This bill primarily proposes a <keyword id="10678151" type="UNKNOWN" weightage="20" keywordseo="new-development-financial-institution">new development financial institution</keyword> (DFI), “as a provider, enabler and catalyst for infrastructure financing.”</li><li>DFIs are constituted to merge both the commercial viability of a bank along with the fulfilment of societal requirements.</li><li>Industrialists like Ajay Piramal, the owner of the Piramal group, had expressed his desire for a DFI in an exclusive conversation with Business Insider in October 2020.</li></ul> National Bank for Financing Infrastructure and Development (NaBFID) bill is one of the key bills among that 20 that have been tabled in the <keyword id="6358021" type="COMPANY" weightage="20" keywordseo="budget">Budget</keyword> session that began yesterday. It is fair to assume the proposal will be part of Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword>'s speech on Monday. This bill primarily proposes a new <keyword id="2268582" type="PERSON" weightage="20" keywordseo="development-financial-institution">development financial institution</keyword> (DFI), “as a provider, enabler and catalyst for infrastructure financing,” according to the <keyword id="6355187" type="PERSON" weightage="20" keywordseo="lok-sabha">Lok Sabha</keyword> website. The website further states that the DFI will be the “ principal financial institution and development bank for building and sustaining a supportive ecosystem across the life cycle of infrastructure projects." This kind of a lending body was one of the demands from the industry for a while now especially since the pandemic⁠— and the pile of bad loans before that⁠— had forced to tighten the flow of credit. Industrialists like Ajay Piramal, the $2.9 billion owner of the Piramal group, which has interests from glass manufacturing to real estate to financial services, had expressed his desire for a DFI, in an exclusive conversation with Business Insider, way back in October. <div type="Youtube" id="J-VzkSZNYDg" title="Covid19: Only A Crisis Or An Opportunity In Disguise?" thumbUrl="https://i.ytimg.com/vi/J-VzkSZNYDg/mqdefault.jpg"></div> What are development financial institutions? DFIs are constituted to merge both the commercial viability of a bank along with the fulfilment of societal requirements. Basically, they are not solely profit-making institutions, unlike commercial banks. And they give loans for projects which may take as long as 15-25 years to be executed. DFIs, or <keyword id="10678152" type="UNKNOWN" weightage="20" keywordseo="developmental-banks">developmental banks</keyword>, is not a new concept. From 1948-1964, three banks were established to provide long-term financing in the industrial sector - Industrial Finance Corporation of India (IFCI), Industrial Credit and Investment Corporation of India (<keyword id="42456" type="DOMAIN" weightage="20" keywordseo="ICICI">ICICI</keyword>), and Industrial Development Bank of India (<keyword id="67881" type="COMPANY" weightage="20" keywordseo="IDBI">IDBI</keyword>). But in the 1990s, the long term operation (LTO) funds, a concessional funding that was provided by the <keyword id="6354335" type="COMPANY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI), was withdrawn. This forced these developmental banks to raise financial resources at market-based rates, leading to the inevitable downfall of these banks. And while ICICI and IDBI were converted into full-fledged commercial banks, Industrial Investment Bank of India shut shop altogether. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/a-golden-chance-for-startups-to-raise-a-funding-of-2-million-in-just-10-minutes-at-iit-bombays-e-summit-2021/articleshow/80598283.cms" data-type="tilCustomLink" target="_blank">A golden chance for startups to raise a funding of ₹2 million in just 10 minutes at IIT Bombay’s E-Summit 2021</a> <a href="https://www.businessinsider.in/stock-market/news/why-nithin-kamath-of-zerodha-believes-a-gamestop-like-shorting-and-chaos-wont-happen-in-the-indian-stock-market/articleshow/80596832.cms" data-type="tilCustomLink" target="_blank">The founder of India’s largest broking firm argues that Gamestop-like chaos would never happen in India</a>

One thing we now know for sure is in the budget proposals⁠— a new infra lending institution

New Delhi, Refuelling of <keyword id="1193791" type="PERSON" weightage="20" keywordseo="consumption-demand">consumption demand</keyword> must be the theme of <keyword id="10462039" type="COMPANY" weightage="20" keywordseo="the-union-budget-fy">the Union Budget FY</keyword> 2021-22 to have a <keyword id="1488486" type="PERSON" weightage="20" keywordseo="multiplier-effect">multiplier effect</keyword> on production possibilities, capex expansion, private investments and employment creation, said the industry body PHDCCI in its 10 <keyword id="9997089" type="UNKNOWN" weightage="20" keywordseo="pronged-strategy">pronged strategy</keyword> suggested to Finance Minister Nirmala Sitharaman on Saturday during the <keyword id="878868" type="COMPANY" weightage="20" keywordseo="pre-budget">Pre-Budget</keyword> consultations. The industry body's 10 pronged strategy revolves around the measures aimed at refuelling consumption and demand, and encouraging the private investments. The elements of the strategy presented to the FM includes front loading of <keyword id="691784" type="PERSON" weightage="20" keywordseo="infrastructure-investments">infrastructure investments</keyword>, establishing DFIs to fund industrial and infrastructural investments, strengthening MSMEs, reducing the costs of doing business, ease of doing exports, increasing Tax to GDP ratio. PHDCCI said any measure aimed at pushing up growth must keep agriculture and rural sector at the forefront and carry out effective reforms in social infrastructure. Economy has exhibited early signs of recovery in the recent months, however, to sustain the momentum, there is a need to ensure a great support to demand creation in the economy with lower interest rates for consumers and businesses, lesser compliances for MSMEs vis-a-vis ease of doing business at the ground level and a lower tax regime to increase the personal disposable income of the people, said Sanjay Aggarwal in a press statement. To rejuvenate the aggregate demand in the economy, infrastructure investments will give a multiplier effect. The robust growth of infrastructure is the key ingredient to realize the vision to become Atmanirbhar Bharat, said Aggarwal. The government should consider raising investment funding for the National Infrastructure Pipeline (NIP) through borrowings from overseas markets by issuance of overseas bonds through an SPV that could act as a mega Development Financial Institution- DFI, he said. The DFI could initially finance public sector infrastructure investments, and, as the economy picks up steam, could also finance the private sector infrastructure projects. In the past, governments around the world have often used DFIs to fund industrial and infrastructure investments. Financial as well as technical support extended by DFIs would help in efficient and timely infrastructural development in the country, said Aggarwal Overseas borrowing will allow the government to bring in diversification in its borrowings along with significantly reduced dependence on the domestic market, thereby leaving room for private sector to raise capital for investments, he said Analysing the Debt to GDP ratio of G20 economies, India is at a significantly better position in the G 20 economies. India stands at 14th rank with total debt to GDP ratio at 127.6% comprising of 55.3% as private debt and 72.3% as public debt. Also, we have sufficient FOREX reserves of $575 billion as on 27th November 2020, said Aggarwal. SEE ALSO: <a href="https://www.businessinsider.in/business/news/ikea-india-cfo-says-she-still-has-3500-crore-to-be-spent-in-india-the-pandemic-has-changed-targets-but-not-the-investment-plan/articleshow/79790938.cms">INTERVIEW: Ikea CFO says she still has ₹3,500 crore to be spent in India⁠— the pandemic has changed targets but not the investment plan</a> <a href="https://www.businessinsider.in/science/health/news/india-will-produce-300-million-doses-of-the-russian-sputnik-v-covid-19-vaccine-next-year/articleshow/79795341.cms">India will produce 300 million doses of the Russian Sputnik V COVID-19 vaccine next year</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mrs-bectors-food-specialities-ipo-allotment-status-online/articleshow/79808672.cms">Mrs Bectors Food Specialities IPO allotment: Here’s how to check share allotment status</a>

PHDCCI suggests ten pronged strategy to attain higher growth in FY22

New Delhi, Mar 3 () The government does not have data regarding financial condition of farmers in the country, Agriculture Minister Narendra Singh Tomar said on Tuesday. In a written reply to a question in the Lok Sabha, he said, "The last survey was conducted by the National Sample Survey Office (NSSO) in 2013 and, therefore, no data is available with the ministry indicating the financial condition of the farmers." However, as per the last survey conducted by NSSO in India in 2013, rural India had about 90.2 million agricultural households, which constituted about 57.8 per cent of the total estimated rural households of the country during the same period, he said. Majority of the agricultural households that possessed more than 0.40 hectare land reported cultivation as their principal source of income, he added. According to the 2013 NSSO survey, among the agricultural households having less than 0.01 hectare land, about 56 per cent reported wage/salary employment as their principal source of income and another 23 per cent reported livestock as their principal source of income. About 44 per cent of the estimated agricultural households in the country had MGNREGA job card during the survey period. About 52 per cent of the agricultural households in the country were estimated to be indebted. Agriculture, including agricultural indebtedness, being a state subject, the state governments take appropriate measures for development of agriculture in the state, he added. However, the central government supplements the efforts of states through appropriate policy measures and budgetary support. Further, Tomar said the central government had constituted an inter-ministerial committee in 2016 to recommend a strategy for doubling of farmers' income (DFI) by the year 2022. The DFI committee submitted its report and, thereafter, the government constituted an empowered body on January 23, 2019, to monitor and review the progress as per these recommendations. To achieve this, the committee has identified seven sources of income for growth -- improvement in crop productivity; improvement in livestock productivity; resource use efficiency or savings in the cost of production; increase in the cropping intensity; diversification towards high-value crops; improvement in real prices received by farmers; and shift from farm to non-farm occupations, he added. LUX HRS

Govt doesn't have data on financial condition of farmers: Tomar

Kolkata, Feb 24 () The government's target ofachieving a USD 5 trillion economy by 2024-25 sounds "tooidealistic", an Niti Aayog official said on Monday.The target has been so set to raise the bar of India'seconomic performance, she said."For now, the ambitious USD 5 trillion economy targetis a statement of intent, which sounds too idealistic," saidBindu Dalmia, chairperson of the National Committee onFinancial Inclusion - Niti Aayog.India is "trapped" within a range-bound GDP growth of5-6 per cent, she said at an MCCI-organised session here.Dalmia said to get to a USD 5 trillion or USD 10trillion economy by 2030 from the current levels of USD 2.9trillion, India needs to grow at 11.5 per cent annually innominal terms, or 7.5 per cent in real terms over the next 10years."Now, it is not impossible (real GDP growth of abouteight per cent) from the current base. But, it's not easilydoable either," she added.In January, Prime Minister Narendra Modi had meteconomists, private equity and venture capitalists, businessleaders and agri experts at NITI Aayog, and called for focusedefforts to achieve the target of making India a USD 5 trillioneconomy.The Niti Aayog official said government spendinghas to be stepped up in the "absence" of private sectorparticipation.Dalmia said there has to be a reduction on thedependency on agriculture to decrease poverty levels.Agriculture can only sustain a growth of three percent per annum, "while we need a growth of 10 per cent" tolift people out of poverty, she said.She said India is on the cusp of the fourth industrialrevolution, which will be "disruptive and holds the greatestpotential as also peril" to transform entire systems andbusiness models.Dalmia also batted for a separate developmentfinancial institution (DFI) to boost lending for long-gestation infrastructure projects. DCRBT RBT

USD 5 trillion economy too idealistic: Niti Aayog official

<ul><li>In a year where the country hopes to recover from the coronavirus pandemic, the onus will be on Nirmala Sitharaman to bring much needed relief for sectors, while also ensuring that the economy bounces back. </li><li>From bringing back jobs in the market to tax deductions, there are a lot of expectations from <keyword id="8420431" type="UNKNOWN" weightage="20" keywordseo="budget-2021">Budget 2021</keyword>.</li><li>According to reports, India's Defence Budget could also see a hike to hit total allocations of ₹6 lakh crore.</li><li>Here are the major changes that could come with the <keyword id="10270141" type="UNKNOWN" weightage="20" keywordseo="Union-Budget-2021">Union Budget 2021</keyword>.</li></ul>India’s Finance Minister Nirmala Sitharaman is set to announce the annual budget on February 1, 2021 – paperless for the first time in the history of India. And in a year where the country hopes to recover from the coronavirus pandemic that ravaged almost every other sector, the onus will be on Sitharaman to bring much needed relief for people as well as sectors that need budgetary support to recover. Ahead of the Budget session of the Parliament, mandatory RT-PCR tests will be done on all the members and the question hour too is set to make a comeback. The Budget session is set to start on January 29, 2021. And here are the major changes that could reportedly come up with the <keyword id="6360189" type="ORGANIZATION" weightage="20" keywordseo="union-budget">Union Budget</keyword> 2021. <cmsannotation type="cmsannotation" annotationid="Income tax deductions" comment="subhead" text="Income tax deductions">Income tax deductions</cmsannotation> With thousands having lost their jobs, and many more having had to undergo a salary cut across the country due to the COVID-19 pandemic, Sitharaman might be looking at possible ways to put more disposable income in the hands of the people. According to <a href="https://economictimes.indiatimes.com/news/economy/policy/middle-class-set-to-gain-from-higher-tax-deductions-likely-in-budget-2021/articleshow/80264633.cms">reports,</a> Budget 2021 might take forward the relief announced with the Atma Nirbhar package with the basic tax exemption limit for an individual being raised to ₹5 lakh from the current ₹2.5 lakh. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup></colgroup></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Income Tax Slab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tax rates - new regime </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tax rates - old regime </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹0 - ₹2,50,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nil </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nil </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,50,001 - ₹ 5,00,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,00,001 - ₹7,50,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12500 + 10% of total income exceeding ₹5,00,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12500 + 20% of total income exceeding ₹5,00,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,50,001 - ₹10,00,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹37500 + 15% of total income exceeding ₹7,50,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹62500 + 20% of total income exceeding ₹7,50,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10,00,001 - ₹12,50,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹75000 + 20% of total income exceeding ₹10,00,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹112500 + 30% of total income exceeding ₹10,00,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,50,001 - ₹15,00,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹125000 + 25% of total income exceeding ₹12,50,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹187500 + 30% of total income exceeding ₹12,50,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Above ₹ 15,00,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹187500 + 30% of total income exceeding ₹15,00,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹262500 + 30% of total income exceeding ₹15,00,000 </td></tr></tbody></table> Until now, while the Modi government has pushed for a rebate on all payable taxes, the basic tax exemption limit has remained the same. The report also said that a higher standard deduction (salary that is not subject to income tax) could also be on the way – from the current ₹50,000 to ₹75,000-₹1,00,000. The government could also be planning a <a href="https://www.businessinsider.in/budget/news/india-may-be-considering-a-covid-cess-on-high-income-earners-aside-from-more-levy-on-fuel/articleshow/80208520.cms">COVID cess </a>on high income earners. <cmsannotation type="cmsannotation" annotationid="Defence Budget to get a massive hike" comment="subhead" text="Defence Budget to get a massive hike">Defence Budget to get a massive hike</cmsannotation> Amidst the long standoff between India and China, according to <a href="https://english.jagran.com/business/budget/union-budget-2021-centre-likely-to-hike-defence-budget-unprecedently-make-in-india-to-be-in-focus-report-10022520">reports,</a> India’s defence budget could see an ‘unprecedented hike’ to meet the urgent requirements of the Indian Army. In Budget 2020, the government had allocated a total of ₹4.71 lakh crore (including defence pensions). Reports now say that with Budget 2021, the total allocation could hit ₹6 lakh crore. <cmsannotation type="cmsannotation" annotationid="Farmers to get special attention" comment="subhead" text="Farmers to get special attention">Farmers to get special attention</cmsannotation> With the farmers’ protest going on for several months now, and the Republic Day farmers tractor rally also resulting in clashes in the national capital, Budget 2021 could take measures to soothe the pain of farmers. According to <a href="https://www.firstpost.com/business/union-budget-2021-centre-likely-to-hike-farm-credit-target-to-about-rs-19-lakh-crore-9240521.html">reports</a>, the farm credit target could be raised to ₹19 lakh crore with an aim to double farmers’ income. <cmsannotation type="cmsannotation" annotationid="Massive boost for construction and affordable housing on its way" comment="subhead" text="Massive boost for construction and affordable housing on its way">Massive boost for construction and affordable housing on its way</cmsannotation> The government may make way for a massive boost for the construction and affordable housing sector. An Indian Express report claimed that the government is likely to liberalise Foreign Direct Investment (FDI) rules in construction and to give a boost to home buyers, an allocation will be made for a credit-linked subsidy in the Budget 2021. In Budget 2020, Finance Minister Nirmala Sitharaman had proposed to extend the benefit of additional deduction of ₹1.5 lakh on interest paid on affordable housing loans by a year to March 2021. Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Fund, who is also a part of the Prime Minister's economic advisory council too said the focus could be on construction and infrastructure with this budget. "My first priority would be to support the needy sector of the economy – tourism, retailing, construction, bottom of the pyramid people MSME who have been hit hard. We must support them so that there’s better financial inclusion and they are also able to participate in growth. This can be done in various formats – you can give concessions, grants, you can create mechanism through which they can grow on their own," he said during a recent conversation with Business Insider. <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="9" retweetcount="2" status="#BudgetInsider: @Iyer_Sriram in conversation with @KotakMF's @NileshShah68 ahead of #Budget2021, cuz the budget tra… https://t.co/k2YwAuyRPw" createdat="1610955127000" id="1351069844918194180"></div> According to<a href="https://www.hindustantimes.com/india-news/union-budget-development-finance-institution-likely-to-be-announced-101611026367782.html"> reports</a>,a Development Finance Institution (DFI) could also be announced with the budget. This new institution would look into infrastructure projects, whether new, stalled or currently in progress, worth ₹100 lakh crore. <cmsannotation type="cmsannotation" annotationid="Bringing back jobs in the market" comment="subhead" text="Bringing back jobs in the market">Bringing back jobs in the market</cmsannotation> Another top priority for the Modi government would be to bring back jobs in the market, after a year where thousands lost jobs across the country as companies tried to cut down costs. The boost in infrastructure and construction could also lead to the growth in jobs. “The Union Budget 2021- 2022 would likely focus on investments that create jobs and therefore infrastructure, construction and significant incentives for high employment-generating sectors (like textiles, affordable housing, MSME, etc) are key areas, which may get priority focus from the government end,” said a report by Sharekhan. <cmsannotation type="cmsannotation" annotationid="Smartphones, electronic items could get costlier" comment="subhead" text="Smartphones, electronic items could get costlier">Smartphones, electronic items could get costlier</cmsannotation> Indian government is set to hike import duties on over 50 items including the likes of smartphones, electronic items and others. According to a<a href="https://www.reuters.com/article/us-india-budget-tax-exclusive/exclusive-indias-budget-seen-raising-import-duties-by-5-10-on-dozens-of-items-sources-say-idUSKBN29N14M"> Reuters report</a>, the hike could be as much as 5-10%. <cmsannotation type="cmsannotation" annotationid="Duty on finished goods could be raised" text="Duty on finished goods could be raised">Duty on finished goods could be raised</cmsannotation> Finished goods made rubber, plastic and leather could see a hike in import levies. Meanwhile, according to an ET report, “inputs used in producing chemicals such as methyl alcohol, acetic acid and PVC could see a reduction in tariffs.” <cmsannotation type="cmsannotation" annotationid="Healthcare could be on the top priority list" comment="subhead" text="Healthcare could be on the top priority list">Healthcare could be on the top priority list</cmsannotation> With the COVID-19 pandemic having shown the need for better healthcare infrastructure and facilities in the country, it is likely that the sector will see renewed focus from Sitharaman. “Combined with the start of the 15th Finance Commission period, we may see a jump in healthcare spending,” said the Credit Suisse report. According to analysts at Sharekhan, within the healthcare stimulus we could also see the extension of tax benefits under Section 35AD. Analysts also expect that there could be an increase in deduction under section 80D of mediclaim premium to be increased to ₹50,000 (for self and spouse) and will remain at ₹50,000 (for dependant parents). <cmsannotation type="cmsannotation" annotationid="Raise the divestment target" comment="subhead" text="Raise the divestment target">Raise the divestment target </cmsannotation> As the Modi government looks to recover the economy, it may also increase divestment targets for the year. A news report said that the government is likely to raise its divestment target to ₹2.5-3 lakh crore. The government plans to achieve the same with the long-pending privatization of government-owned entities like Air India, BPCL, Concor and Shipping Corp. The government could also plan to <a href="https://www.timesnownews.com/business-economy/budget/article/budget-2021-govt-may-announce-plans-to-privatise-some-psu-banks/711735">privatize</a> PSU banks. In Budget 2020, the government had set a target of ₹2.1 lakh crore, however it has managed a <a href="https://indianexpress.com/article/business/lower-divestment-spectrum-auction-receipts-hit-non-tax-collection-target-7145297/">meagre amount </a>of it – ₹13,844.49 crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms">The ₹4,600 crore IPO from IRFC is ‘attractive,’ and the best thing about the borrowing arm for Indian Railways is the assured margin</a> <a href="https://www.businessinsider.in/stock-market/news/how-rakesh-jhunjhunwala-backed-nazara-technologies-is-preparing-for-its-big-ipo-debut/articleshow/80321946.cms">The startup behind Chhota Bheem, Motu Patlu and Shikari Shambhu is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings</a>

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