Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Jaipur (Rajasthan) [India], July 19 (ANI): The <keyword id="6375844" type="General" weightage="20" keywordseo="ministry-of-micro" source="Orion">Ministry of Micro</keyword>, <keyword id="6375845" type="General" weightage="20" keywordseo="small-and-medium-enterprises" source="Orion">Small and Medium Enterprises</keyword> launched a new initiative called the 'Yashaswini' initiative under the '<keyword id="22467687" type="General" weightage="20" keywordseo="Empower-Her-Udan" source="Orion">Empower Her Udan</keyword>' campaign on Thursday, July 18, to encourage and support women entrepreneurs across the country. Under this campaign, the first phase is set to start on Friday, July 19, in Jaipur. According to the Director of <keyword id="6358354" type="General" weightage="20" keywordseo="MSME" source="Orion">MSME</keyword>, <keyword id="657556" type="General" weightage="20" keywordseo="Ankita-Pandey" source="Orion">Ankita Pandey</keyword>, around 600 women entrepreneurs in the state will be participating in the event, which will start at the <keyword id="14599491" type="General" weightage="20" keywordseo="Rajasthan-International-Centre" source="Orion">Rajasthan International Centre</keyword> today. Pandey said that the initiative is being introduced to provide a formal education for women operating commercial enterprises, along with creating awareness among them of all the <keyword id="7776964" type="General" weightage="20" keywordseo="MSME-schemes" source="Orion">MSME schemes</keyword> they can utilise. "The initiative is to introduce formal education for the women who operate commercial enterprises, along with creating awareness among them to utilise all the MSME schemes,' she said. Pandey further mentioned that women can register at different stalls at the centre based on the skills they require to develop to run an enterprise, including training, capacity building, how to make full use of their capital, how to get market access, how to develop their product, and also how to do digital marketing. She also mentioned that this will not be a one-day event and that workshops will be organised at local MSMEs for further development. "This is not a one-day event; it will be a continuous process and training workshops will also be organised at local MSME organisations for further development in this matter," she said. <keyword id="22467688" type="General" weightage="20" keywordseo="Union-Minister-for-MSME" source="Orion">Union Minister for MSME</keyword> Jitan Ram Manjhi, Union Minister of State for MSME Sobha Karandlaje, Chief Minister of Rajasthan Bhajan Lal Sharma and State Cabinet Minister Colonel Rajyavardhan Singh Rathore will be participating at the event today.

MSME launches Yashaswini Initiative to support women entrepreneurs; First phase to start on July 19 in Jaipur

Union Cabinet headed by Prime Minister Narendra Modi met in Parliament on Tuesday to approve the Union Budget ahead of its presentation by <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword> <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword>. Prime Minister Narendra Modi arrived in Parliament this morning to attend the cabinet meeting. On Monday, Prime Minister said the Economic Survey highlighted the prevailing strengths of the economy and identifies areas for further growth and progress as the government "moves towards building a Viksit Bharat". Union Ministers Amit Shah, Rajnath Singh and Pralhad Joshi were also seen arriving in the Parliament earlier for the Cabinet meeting today. At 11 am, Finance Minister Nirmala Sitharaman will present the <keyword id="20387181" type="General" weightage="20" keywordseo="Union-Budget-2024-25" source="keywords">Union Budget 2024-25</keyword>. Earlier today, Sitharaman met with President Droupadi Murmu before leaving for Parliament. This would mark Sitharaman's seventh consecutive budget and eclipses the late Moraji Desai's record of six consecutive budgets, which is likely to focus on changes in the income tax structure and improving the ease of doing business in India. Addressing the media, Minister of State for Finance Pankaj Chaudhary earlier said that the first Union Budget of the third Modi government will be based on his mantra of "Sabka Saath Sabka Vikas". Union Minister Pralhad Joshi said that this budget would accelerate the country's economic growth. "The economic growth that happened under the leadership of Prime Minister Narendra Modi, this budget and this Budget will further accelerate it. The budget that will be presented today by Nirmala ji will also help our country, which is the fastest-growing economy," Pralhad Joshi said while speaking to the media on the Parliament premises on Tuesday. The budget session of Parliament began on July 22 and, according to schedule, will end on August 12. On Monday, the economic survey presented in Parliament by finance minister Sithraman stated that in the medium term, the Indian economy can grow at a rate of 7 per cent. The economic survey stated, "In the medium term, the Indian economy can grow at a rate of 7 per cent plus on a sustained basis if we build on the structural reforms undertaken over the last decade. This requires a tripartite compact between the Union Government, State Governments and the private sector. "The survey further added that India faces a unique blend of opportunities and challenges amid global trends such as geo-economic fragmentation, a push for self-reliance, looming climate change, the rise of technology, and limited policy space. (ANI) SEE ALSO: <a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" data-type="tilCustomLink" target="_blank">Union Budget 2024 Live Updates: PM Modi arrives in Parliament ahead of Budget 2024 presentation</a> <a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" data-type="tilCustomLink" target="_blank">Union Budget 2024-25: Focus on employment, skilling, MSME and middle class</a>

Union Cabinet meets in Parliament ahead of Budget presentation

The Retailers Association of India (RAI) on Friday called for <keyword id="20141385" type="General" weightage="20" keywordseo="lower-taxes" source="keywords">lower taxes</keyword> for individuals to generate demand and spur <keyword id="20018646" type="General" weightage="20" keywordseo="consumption" source="keywords">consumption</keyword> besides seeking low-cost finance, subsidies and benefits on land rates and necessities such as <keyword id="20028294" type="General" weightage="20" keywordseo="electricity" source="keywords">electricity</keyword> for retailers ahead of <keyword id="6360189" type="General" weightage="100" keywordseo="Union-Budget" source="Orion">Union Budget</keyword> FY25. Retailing in India accounts for about 10% of the country's GDP and the sector is second only to agriculture in terms of the number of people directly employed, RAI said in its pre-Budget memorandum highlighting areas that need attention in order to make the industry stronger. "To ensure the growth of the sector, the Union Budget for FY25 should focus on generating demand and spurring consumption by offering benefits or concessions in the form of lower taxes. It will boost the overall consumer sentiment and benefit the retail sector, it said adding, consumption equals to development and the "tax benefits and relief to individual <keyword id="59866" type="General" weightage="20" keywordseo="taxpayers" source="Orion">taxpayers</keyword> will increase the monthly disposable income and support consumption", the memorandum noted. Further, the budget should outline supportive policies, simplified regulations, skill development and simple goods and services tax (GST) norms to aid the development of the retail industry, RAI said. Asking for low-cost finance to retailers, the industry body said, "There is a need to provide lower interest rate to the retailers through the special announcement in the Budget to assure easier financing for the retail businesses." It also asked the government to consider the food and beverages retail sector as an essential service and said "subsidies and benefits should be given on land rates and other necessities such as electricity". RAI also said there is a need to expedite the formulation and implementation of '<keyword id="5649262" type="General" weightage="20" keywordseo="National-Retail-Policy" source="Orion">National Retail Policy</keyword>' to enable ease of doing business and that "such a step would provide a substantial boost to the retail sector". Stating that benefits to retail and wholesale trade MSMEs are restricted to priority sector lending only, RAI also recommended that retail and wholesale traders should be eligible for all benefits available to other MSMEs. Further, the retailers' body asked the Centre to encourage and incentivise states to adopt 'The Model Shops and Establishment (Regulation of Employment and Condition of Services) Act 2016 that enables states to choose to keep shops and other such establishments open 24X7 all through the year.

RAI's Budget wishlist: Lower taxes for individuals, benefits on land rates, electricity

The <keyword id="6355512" type="General" weightage="50" keywordseo="union-cabinet" source="Orion">Union Cabinet</keyword> on Wednesday approved the third revival package for <keyword id="30351" type="General" weightage="100" keywordseo="bsnl" source="Orion">BSNL</keyword> with a total outlay of Rs 89,047 crore. The package includes an allotment of 4G and 5G spectrum for BSNL through equity infusion, an official statement said. "The Union Cabinet chaired by Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>, today approved the third revival package for BSNL with a total outlay of Rs 89,047 crore," it said. Also, the authorized capital of BSNL will be increased from Rs 1,50,000 crore to Rs 2,10,000 crore. The package comprises allotment of premium wireless frequencies 700 MHz band spectrum worth Rs 46,338.6 crore; 70 MHz of frequencies in 3300 MHz band worth Rs 26,184.2 crore; frequencies in 26 GHz band worth Rs 6,564.93 crore; in 2500 MHz band worth Rs 9,428.2 crore and Rs 531.89 crore for miscellaneous items. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/have-a-complaint-against-your-bank-heres-how-rbi-plans-to-resolve-your-grievances/articleshow/100819139.cms">Have a complaint against your bank? Here’s how RBI plans to resolve your grievances</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/cabinet-approves-metro-connectivity-between-huda-city-centre-and-cyber-city-in-gurugram/articleshow/100819200.cms">Cabinet approves metro connectivity between HUDA City Centre and Cyber City in Gurugram</a>

Govt approves almost ₹90,000 crore as relief package for BSNL

The overall size of the budget has remained almost unchanged from the interim one presented in February, indicating the government's strong commitment to move along the <keyword id="20099794" type="General" weightage="20" keywordseo="fiscal-prudence" source="keywords">fiscal prudence</keyword> path, said experts on Tuesday. According to the <keyword id="19908389" type="General" weightage="100" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024-25 presented by Finance Minister Nirmala Sitharaman, the total expenditure in Budget Estimates (BE) 2024-25 is estimated at Rs 48,20,512 crore of which total <keyword id="20018917" type="General" weightage="20" keywordseo="capital-expenditure" source="keywords">capital expenditure</keyword> is Rs 11,11,111 crore. The total expenditure in the Interim Budget presented in February was estimated at Rs 47,65,768 crore of which total capital expenditure was Rs 11.11 lakh crore. Debadatta Chand, Managing Director &amp; CEO, <keyword id="19920717" type="General" weightage="20" keywordseo="Bank-of-Baroda" source="keywords" meta.keywordsubtype="org" meta.entityname="Bank of Baroda" meta.hostid="261" meta.entityid="Bank of Baroda">Bank of Baroda</keyword>, said the Union Budget complements the main takeaways from the Economic Survey and focusses clearly on medium term development of the economy. "The overall size of the budget has remained almost unchanged from the interim one. The budget has shown strong intent on moving along the fiscal prudence path and targeted the <keyword id="19942084" type="General" weightage="20" keywordseo="fiscal-deficit" source="keywords">fiscal deficit</keyword> at 4.9 per cent for the year," he said. The said action will keep the growth steady as well as robust not only for economy but also banking. Aditi Nayar, Chief Economist, ICRA Limited, said the budget has kept the capital expenditure unchanged and pared the fiscal deficit to 4.9 per cent of GDP. "The anticipated reiteration of the reduction in the fiscal deficit to below 4.5 per cent of GDP in FY2026 is welcome. Interestingly, the new medium term fiscal consolidation path has been linked to a reduction in the debt/GDP ratio instead of continued compression of the fiscal deficit/GDP ratio," she said. Buoyed by improvement in revenue collection, the government has lowered fiscal deficit target to 4.9 per cent for the current <keyword id="19910979" type="General" weightage="20" keywordseo="financial-year" source="keywords">financial year</keyword> as against 5.1 per cent estimated in February's interim budget. Ranen Banerjee, Partner and Leader Economic Advisory, PwC India, said that fiscal prudence is the highlight of the full Union Budget 2024-25. The government has gone with realistic projections on its revenue and expenditure estimates and refrained from announcing overly populist measures. "The majority of the allocations, including the capex allocation, are as outlined in the interim budget, thus providing continuity. The capex being kept at INR 11.11 trillion was expected, given that the ability to consume this allocation is limited due to disruption from the elections in the first quarter and the second quarter being typically slowed down by the monsoons," Banerjee said. Institute of Chartered Accountants of India (ICAI) President Ranjeet Kumar Agarwal said the government has announced five schemes to facilitate employment and skilling for 4.1 crore youth over the next five years with a central outlay of Rs 2 lakh crore. "This is a welcome step that will create a skilled workforce to address the existing deficit and generate <keyword id="19972727" type="General" weightage="20" keywordseo="employment-opportunities" source="keywords">employment opportunities</keyword>. Additionally, financial support for loans up to Rs 10 lakh for higher education will help students pursue higher education and acquire skills," he added. Indian Institute of Insolvency Professionals of ICAI (IIIPI) Chairman Ashok Haldia said the budget proposals for an integrated technology platform and sprucing up NCLT infrastructure will provide a fillip to the Insolvency and Bankruptcy Code (IBC) regime. IIIPI is promoted by ICAI. Meanwhile, Kumarmangalam Vijay, Partner, JSA Advocates and Solicitors, opined that in its new avatar, it seems that the Modi government is keen to deliver on its promise of 'ease of doing business'. "Its focus on making it simpler is evident from the abolition of the angel tax, the increase in new income tax regime thresholds, new Vivad se Vishwas Scheme 2024 for the resolution of pending cases and the increase in the threshold for appeal by tax departments at various levels, decriminalising the non-reporting of shares received from non-resident employers and reducing the period for re-opening of the cases," Vijay said. The Institute of Company Secretaries of India (ICSI) said there has been a focus on the manufacturing sector in the budget. Measures have been taken for simplifying the FDI/ODI rules and regulations, and the <keyword id="21847964" type="General" weightage="20" keywordseo="tax-regimes" source="keywords">tax regimes</keyword>. The enhanced Mudra loan limit and the abolition of angel tax are all set to incentivize the startup and MSME ecosystem of the country. "The nine priorities identified in this progressive and inclusive budget 2024 are aimed at generating ample opportunities for all. Besides agricultural reforms, the budget focuses on skilling, educating and employing the youth, a priority that the ICSI has been concentrating on," said ICSI President B Narasimhan. Rajesh Magow, Co-Founder and Group CEO, MakeMyTrip, said the government's continued emphasis on infrastructure development is commendable. Enhanced road infrastructure will bolster the travel and tourism sector. "We also welcome the initiatives to develop iconic spiritual and cultural sites into world-class tourist hotspots," Magow said. Furthermore, he said the provision of credit for TCS against income tax under 'Income from Salaries' is logical and will provide much-desired relief to taxpayers who travel internationally.

Budget size almost unchanged from interim, shows govt's commitment to fiscal prudence: Experts

<ul><li>Union Minister Nitin Gadkari announced that the government will buy shares in MSMEs that get listed on Indian stock exchanges.</li><li>"The units which have a good turnover and GST will be listed," he said during the <keyword id="6355512" type="ORGANIZATION" weightage="20" keywordseo="union-cabinet">Union Cabinet</keyword> press briefing.</li><li>The Bombay Stock Exchange (<keyword id="35140" type="CITY" weightage="20" keywordseo="BSE">BSE</keyword>) and the National Stock Exchange (<keyword id="6354646" type="UNKNOWN" weightage="20" keywordseo="nse">NSE</keyword>) already reduced the annual listing fees for MSMEs on May 18.</li></ul>Among the six measures that Nirmala Sitharaman announced in May, one was a ₹50,000 crore equity infusion for MSMEs through Fund of Funds. The Union Cabinet today expanded to say that units, which get themselves listed in the market through this route will have the assurance of the government buying their shares. "The units which export, have a good turnover and GST, will be listed and the government will buy shares in the company which will be a revolving fund and this will benefit the MSMEs entering the stock market," said Union Minister Nitin Gadkari. <div type="Article" hostid="261" msid="75717258" title="Finance Minister Nirmala Sitharaman announces six measures for the MSME sector" mstype="2" mssubtype="0"></div> Gadkari explains how the revolving fund will work The Union Minister highlighted that MSMEs listed on the stock market will no longer have to depend on banks for their funding. The government will be allowed to buy up to 15% of equity in any given MSME stock. “Through this equity investment, the MSME stock will be strengthened,” said Gadkari. <div type="Article" hostid="261" msid="76136376" title="Entities with up to ₹250 crore turnover, excluding exports, to be medium enterprises" mstype="2" mssubtype="0"></div> He described that the government will eventually sell off the shares for a profit and use that money to invest in other MSMEs. “Through this method MSMEs with a good balance sheet, good ratings and good GST record — we will give a push to those units,” said Gadkari illustrating how government investments will also help boost exports. He explained that there are nearly six crore MSMEs in India, which contribute to 48% of the country’s exports and are capable of creating 11 crore jobs. “I am a little optimistic. Since this a revolving fund, it’s possible that it will be worth ₹2 lakh crore within a couple of years,” he quipped. It’s cheaper to get listed On May 18, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) announced that they have reduced the annual listing fee for MSMEs by 25%. Normally they are charged ₹25,000 or 0.01% of the full market cap on the BSE and between ₹10,000 to ₹45,000 by the NSE depending on the market cap. The revised listing fee structure is applicable for existing companies as well as for firms who are waiting to be listed. SEE ALSO: <a href="https://www.businessinsider.in/india/news/entities-with-up-to-250-crore-turnover-excluding-exports-to-be-medium-enterprises/articleshow/76136376.cms">Entities with up to ₹250 crore turnover, excluding exports, to be medium enterprises</a> <a href="https://www.businessinsider.in/business/startups/news/oyo-founder-ritesh-agarwal-announces-esops-worth-130-crore-for-furloughed-employees/articleshow/76134783.cms">OYO founder Ritesh Agarwal announces ESOPs worth ₹130 crore for furloughed employees</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-will-try-again-for-a-made-in-india-tag-to-be-able-to-sell-farm-produce/articleshow/76131890.cms">Flipkart will try again for a ‘Made in India’ tag to be able to sell farm produce</a>

Small businesses with ‘good turnover’ looking to get listed on the stock market will have the Indian government will buying their shares

In a bonanza for 48 lakh <keyword id="772729" type="General" weightage="20" keywordseo="Central-government-employees" source="Orion">Central government employees</keyword> and 70 lakh pensioners, the government on Friday hiked <keyword id="6429991" type="General" weightage="20" keywordseo="dearness-allowance" source="Orion">dearness allowance</keyword> (DA) and dearness relief (DR) by 4 per cent with retrospective effect from January 1, 2023. The decision was taken in the <keyword id="1246760" type="General" weightage="20" keywordseo="Union-Cabinet-meeting" source="Orion">Union Cabinet meeting</keyword> on Friday evening. According to official sources, the additional instalment will represent an increase of 4 per cent over the existing rate of 38 per cent of the basic pay or pension, to compensate against price rise. The cabinet gave its approval to release an additional instalment of DA to Central government employees and DRA to pensioners with effect from January 1, 2023, they added. The combined impact on the exchequer on account of both DA and DR would be Rs 12,815.60 crore per annum, the sources added. This increase is in accordance with the accepted formula, which is based on the recommendations of the <keyword id="1581536" type="General" weightage="20" keywordseo="7th-Central-Pay-Commission" source="Orion">7th Central Pay Commission</keyword>. DA is calculated as per the latest consumer price index for industrial workers. It is revised periodically twice a year and was last revised in September 2022, and was effective retrospectively from July 1, 2022. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/desk-bombing-monk-mode-other-emerging-trends-at-the-workplace-as-per-linkedin/slidelist/98973217.cms">Desk-bombing, monk mode &amp; other emerging trends at the workplace</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/haircut-on-cases-resolved-through-ibc-not-very-encouraging-says-kotak-report/articleshow/98972743.cms">Haircut on cases resolved through IBC not very encouraging, says Kotak report</a>

Cabinet clears dearness allowance hike by 4%

The Union <keyword id="6355513" type="General" weightage="20" keywordseo="cabinet" source="Orion">Cabinet</keyword> on Wednesday approved a four per cent increase in <keyword id="6429991" type="General" weightage="50" keywordseo="dearness-allowance" source="Orion">Dearness Allowance</keyword> (DA) for Central government employees and Dearness Relief for pensioners. Briefing reporters about the decisions of the union cabinet, Information and Broadcasting Minister <keyword id="6364468" type="General" weightage="50" keywordseo="anurag-thakur" source="Orion">Anurag Thakur</keyword> said the decision will be implemented from July 1 this year. "Dearness Allowance for Central government employees and Dearness Relief for pensioners has been increased by 4%. The <keyword id="663200" type="General" weightage="60" keywordseo="DA-hike" source="Orion">DA hike</keyword> will be implemented from 1, July 2023," he said. The decision will benefit 48.67 lakh Central Government Employees and 67.95 lakh pensioners. The minister said the decision has come in the festival season and will benefit both the central government employees and pensioners. Generous bonus for railway employees The Cabinet has also granted approval for a Productivity Linked Bonus (PLB) that amounts to 78 days wages for eligible non-gazetted Railway employees. This bonus is for the financial year 2022-23 and will benefit a wide array of railway staff, including Track maintainers, Loco Pilots, Train Managers (Guards), Station Masters, Supervisors, Technicians, Technician Helpers, Points man, Ministerial Staff, and other Group 'C' staff, excluding Railway Protection Force (RPF)/ Railway Protection Special Force (RPSF) personnel, read the press release issued by Cabinet. This move comes in recognition of the outstanding performance of the railway employees throughout the financial year 2022-23. The Union Government has sanctioned a PLB totalling Rs 1,968.87 crores, which will be disbursed to approximately 1,107,346 railway employees, read the press release. (This copy will be updated)

Dearness allowance of central government employees hiked by 4%

The <keyword id="6355512" type="General" weightage="20" keywordseo="Union-Cabinet" source="Orion">Union Cabinet</keyword> on Wednesday approved the much-anticipated <keyword id="8870884" type="General" weightage="20" keywordseo="production-linked-incentive" source="Orion">production linked incentive</keyword> (PLI) scheme for the textiles sector. Under the scheme incentives worth ₹10,683 crore will be provided over five years. According to the government, the move will especially positively impact states like Gujarat, <keyword id="6357713" type="General" weightage="20" keywordseo="Uttar-Pradesh" source="Orion">Uttar Pradesh</keyword>, <keyword id="13126" type="General" weightage="20" keywordseo="Maharashtra" source="Orion">Maharashtra</keyword>, Tamil Nadu, Punjab, Andhra Pradesh, Telangana, Odisha among others. The government expects investments of more than ₹19,000 crore into the sector during the five-year period. It is also expected to bring about additional production turnover of over ₹3 lakh crore during the period and create employment opportunities of over 7.5 lakh people directly and several lakhs more for supporting activities, as per the government. The government will give higher priority for investment in the aspirational districts and tier-3 cities. Industry participants have lauded the decision of the government. Apparel Export Promotion Council (AEPC) Chairman A. Sakthivel said that it will be a game changer for the Indian textile industry and will transform India's growth story. Sakthivel said that the scheme will result in fresh investment of gigantic proportions, expand manufacturing capacities and enhance exports multifold. "It will make India a key player in the global textile value chain with focus on high value MMF products. Besides, it will promote industrial development in backward regions of the country," he added. The focus of the <keyword id="8941225" type="General" weightage="20" keywordseo="PLI-SCHEME" source="Orion">PLI scheme</keyword> would be for the development of man-made fibre and technical fibre segments that are in high demand in advanced economies where India already has a big presence with its technical products. Commerce and Industry Minister Piyush Goyal said that fabric and garments made from these fibres would be a focus of the scheme so that world class facilities are built in the country. He also said that the government was also working on free trade agreements (FTAs) with advanced economies such as the UK, the US, EU that will help the country both ways to get requisition imports as well boost exports. FTA would also help the textile sector, the minister said, in getting a level playing field that faced unequal duties in some of these markets. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-and-airtel-stocks-fall-amid-reports-that-government-hasnt-discussed-proposal-for-a-telecom-relief-package/articleshow/86033281.cms">Vodafone Idea falls amid reports that government hasn’t discussed proposal for a telecom relief package</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/here-is-how-naukri-parent-info-edges-stock-went-up-23-in-the-last-one-month/articleshow/86032576.cms">Here is how Naukri parent Info Edge’s stock went up 23% in the last one month</a>

Union Cabinet approves PLI scheme worth ₹10,683 crore for textiles

The <keyword id="6355512" type="ORGANIZATION" weightage="20" keywordseo="union-cabinet">Union Cabinet</keyword> on Wednesday decided to restore Dearness Allowance (DA) and Dearness Relief (DR) for central government employees and pensioners from July 1, 2021 while increasing the rate of allowance to 28 percent. The increase in the DA and DR will impose an additional annual burden of ₹34,401 crore on the exchequer, Minister of Information and Broadcasting Anurag <keyword id="6360857" type="PERSON" weightage="20" keywordseo="thakur">Thakur</keyword> told reporters after the cabinet meeting. In view of the COVID-19 pandemic, the <keyword id="6362177" type="UNKNOWN" weightage="20" keywordseo="Union-government">Union Government</keyword> had frozen the three additional instalments of the DA and DR which were due from January 1, 2020, July 1, 2020 and January 1, 2021. The move, Thakur said, will benefit about 48.34 <keyword id="11638790" type="UNKNOWN" weightage="20" keywordseo="lakh-central">lakh central</keyword> employees and 65.26 pensioners. "The government has decided to increase DA to central government employees and DR to pensioners with effect from July 1, 2021 representing an increase of 11 per cent over the existing rate of 17 per cent of the basic pay/pension," said a release. "#Cabinet approves restoring of three instalments of Dearness Allowance and Dearness Relief with effect from 01.07.2021 representing an increase of 11% over the existing rate of 17% of the Basic Pay/Pension. No arrears for the period from 01.01.2020 till 30.06.2021 shall be paid," the official handle of <keyword id="44978" type="ORGANIZATION" weightage="20" keywordseo="PIB">PIB</keyword> tweeted. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tatva-chintan-pharma-chem-ipo-anti-china-sentiment-across-the-globe-maybe-a-boon-for-this-speciality-chemical-company/articleshow/84404755.cms">Tatva Chintan Pharma Chem IPO: Anti-China sentiment across the globe maybe a boon for this speciality chemical company</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/new-smartphone-oppo-reno-6-and-reno-6-pro-5g-price-specification-and-features/articleshow/84406144.cms">Oppo Reno 6, Reno 6 Pro 5G smartphones with 65W fast charging launched in India – price, specifications and availability details</a>

Government hikes dearness allowance to 28% effective from July 1

<keyword id="6358777" type="LOCATION" weightage="20" keywordseo="New-Delhi">New Delhi</keyword>, The <keyword id="128625" type="COMPANY" weightage="20" keywordseo="Internet-and-Mobile-Association-of-India">Internet and Mobile Association of India</keyword> (IAMAI) on Thursday said that its has appealed to the government to reduce TDS on e-commerce platforms to 0.25 per cent from 1 per cent to give a much-needed relief to small sellers in the <keyword id="8445197" type="COMPANY" weightage="20" keywordseo="union-budget-2020-21">Union Budget 2020-21</keyword>. The uniform TDS on e-commerce transactions is creating major challenges for the small sellers who are conducting <keyword id="6355515" type="UNKNOWN" weightage="20" keywordseo="business">business</keyword> via e-commerce platforms. "Reducing TDS will help achieve the tax trail without creating the unintended cash-flow concerns," the IAMAI said in a statement. "While it understands that it was an important move on part of the government for better monitoring and realisation of taxation, it has led to unforeseen consequences hurting SME sellers". IAMAI had earlier shared with the authorities an illustration that suggested for merchants who have a turnover of up to Rs 1.25 crore, 1 per cent TDS under the new provisions would exceed their total tax liability, resulting in an unnecessary refund position. "Or, in other words, create cash flow and working capital concerns for small businesses," said the IAMAI which has now appealed to the authorities in its pre-budget memorandums to reduce the rate of TDS. Given the Covid-related economic slowdown, e-commerce platforms have proven to be a crucial lifeline for small scale and MSME sellers, who do not have the marketing or logistics bandwidth for wider outreach and are now using ecommerce platforms to sell across the country. "Unfortunately, the TDS, over and above the pre-existing TCS under GST, now means that such sellers conducting business over e-commerce platforms have a considerable amount of their total revenues locked up under <keyword id="516033" type="PERSON" weightage="20" keywordseo="tax-claims">tax claims</keyword>," the association argued. Forcing small businesses into prolonged tax refund claims for release of critical revenues is perhaps unwarranted under the present circumstances, it added. --IANS na/

Budget 2021: Industry body seeks tax relief for small sellers on e-commerce platforms

<ul><li>State-run telecom firm <keyword id="30351" type="COMPANY" weightage="20" keywordseo="BSNL">BSNL</keyword>'s employee unions have called for a nationwide hunger strike on Monday, to protest against delay in execution of the Rs 69,000-crore revival package announced by the government.</li><li>In October 2019, the central government approved a Rs 68,751-crore revival package for loss-making BSNL and MTNL, including 4G spectrum allocation and voluntary retirement scheme (VRS), as well as their merger.</li><li>The BSNL employees' body said that due to the delay in the allotment of 4G spectrum and also due to the non-availability of funds, it is understood that BSNL's 4G service is not likely to be launched before the end of 2020.</li></ul>State-run telecom firm BSNL's employee unions have called for a nationwide hunger strike on Monday, to protest against delay in execution of the Rs 69,000-crore revival package announced by the government. "The All Unions and Associations of BSNL (AUAB) is organising a country-wide hunger strike on February 24, 2020. This hunger strike is being organised to demand the expeditious implementation of the Union Cabinet's revival package in respect of BSNL, as well as to demand settlement of the grievances of the employees," AUAB said in a statement. In October 2019, the central government approved a Rs 68,751-crore revival package for loss-making BSNL and MTNL, including 4G spectrum allocation and voluntary retirement scheme (VRS), as well as their merger. AUAB, , said the salient feature of the revival package is the allotment of 4G spectrum, the issuing of sovereign guarantee for raising funds to the tune of Rs 15,000 crore, with share of BSNL at Rs 8,500 crore and Rs 6,500 crore for MTNL, by way of issuing long-term bonds, monetisation of assets and implementation of a VRS. "Out of these, only the VRS has been implemented, through which 78,569 BSNL employees have been sent home. It is extremely disturbing to note that, even after the lapse of nearly 4 months, 4G spectrum has not been allotted to BSNL," statement said. It added that the government has not yet issued the sovereign guarantee to BSNL, to enable it to raise Rs 8,500 crore, by way of issuing long-term bonds. "The process of monetisation of BSNL's assets is also moving at snail's pace. The Supreme Court of India's judgment, with regards to the calculation of the AGR, has caused uncertainties in the telecom sector, due to which banks are also unwilling to extend the much-needed loans to BSNL," the statement said. The BSNL employees' body said that due to the delay in the allotment of 4G spectrum and also due to the non-availability of funds, it is understood that BSNL's 4G service is not likely to be launched before the end of 2020. "This delay is much against the spirit of the Union Cabinet, in approving the revival package for BSNL. The attention of the Minister of Communications (Ravi Shankar Prasad) has already been drawn to the need to provide BSNL with the much-needed working capital. However, nothing has happened," the statement said. AUAB said that despite the relief package, employees are not getting salary on time and the wages of the contract workers have not been paid for the past 10 months. "Under these circumstances, the AUAB has already organised country-wide lunch-hour demonstrations on February 11, 2020. In continuation of this, hunger strikes are being organised throughout the country on February 24 to urge the Department of Telecommunications and the BSNL management to take expeditious actions," AUAB said. PRS HRS See also: <a href="https://www.businessinsider.in/business/news/taxes-transfers-and-all-other-worries-that-dog-bsnl-and-mtnl-employees-as-they-decide-on-vrs/articleshow/71967148.cms">Taxes, transfers and all other worries that dog BSNL and MTNL employees as they decide on VRS</a> <a href="https://www.businessinsider.in/unpaid-bsnl-employees-react-to-the-current-crisis/articleshow/71063961.cms">An unpaid BSNL employee believes the company will survive the current turmoil</a> <a href="https://www.businessinsider.in/business/telecom/news/after-vrs-now-bsnl-will-now-slash-contract-worker-jobs/articleshow/72283164.cms">After VRS, BSNL will now slash contract worker jobs</a>

You Searched For "msme relief union cabinet" and got 12 results

MSME launches Yashaswini Initiative to support women entrepreneurs; First phase to start on July 19 in Jaipur

ANI

Union Cabinet meets in Parliament ahead of Budget presentation

ANI

RAI's Budget wishlist: Lower taxes for individuals, benefits on land rates, electricity

PTI

Govt approves almost ₹90,000 crore as relief package for BSNL

PTI

Budget size almost unchanged from interim, shows govt's commitment to fiscal prudence: Experts

PTI

Small businesses with ‘good turnover’ looking to get listed on the stock market will have the Indian government will buying their shares

Prabhjote Gill

Cabinet clears dearness allowance hike by 4%

IANS

Dearness allowance of central government employees hiked by 4%

ANI

Union Cabinet approves PLI scheme worth ₹10,683 crore for textiles

IANS

Government hikes dearness allowance to 28% effective from July 1

PTI

Budget 2021: Industry body seeks tax relief for small sellers on e-commerce platforms

IANS

BSNL employee unions call for nationwide hunger strike on Monday for delay in relief package

PTI

Popular Keywords

Buying Guides