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Tag Wise Current Affairs
Tag: Commerce & Industry
Government to relax angel tax norms for Start-UPs
Tags: Commerce & Industry
Published on: 05 February 2019
Government to continue Credit Linked Capital Subsidy and Technology Up-gradation Scheme
Tags: Commerce & Industry
Published on: 14 February 2019
Government launches Scheme for Development of Knitting and Knitwear Sector
Tags: Commerce & Industry
Published on: 01 March 2019
Cabinet approves National Policy on Software Products 2019
Tags: Commerce & Industry, Science, Technology & Innovation
Published on: 01 March 2019
Cabinet approves National Mineral Policy 2019
Tags: Infrastructure, Commerce & Industry
Published on: 01 March 2019
Government launches SHREYAS Scheme
Tags: Education, Commerce & Industry
Published on: 28 February 2019
Transport and Marketing Assistance Scheme for Agriculture Products launched
Tags: Agriculture, Commerce & Industry
Published on: 06 March 2019
Cabinet approves Scheme to Rebate State and Central Embedded Taxes for textile sector
Tags: Commerce & Industry
Published on: 08 March 2019
TIES: Government approves assistance for three trade promotion centres
Tags: Commerce & Industry
Published on: 05 July 2019
Cabinet approves Phase II of FAME India Scheme
Tags: Infrastructure, Commerce & Industry, Environment
Published on: 01 March 2019
36 Proposals shortlisted for Solar Charkha Mission
Tags: Commerce & Industry
Published on: 19 July 2019
Handloom Marketing Assistance Scheme for marketing Arani Silk Saree
Tags: Commerce & Industry
Published on: 19 July 2019
New government policies announced after cabinet meet
Tags: Commerce & Industry
Published on: 29 August 2019
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'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Government has decided to set up five-member working committee to look into angel tax issue and come up with guidelines. It also agreed to implement some key changes requested by start-ups regarding issue. The decisions were taken during meeting between officials of Department for Promotion of Industry and Internal Trade (DPIIT), Central Board of Direct Taxes (CBDT) and representatives of start-up community.</span></span></p>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Proposed reforms in Meeting</strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Government will raise aggregate amount of paid-up share capital and share premium after proposed issue of share of startups eligible for tax exemption to Rs.25 crore.</span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Definition of start-up will be amended to include companies that have been in operation for up to 10 years rather than the previous limit of 7 years.</span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Limit on angel investor for filing income tax returns will be reduced. It will now be Rs.25 lakh for year preceding in which investment was made and net worth limit also reduced to Rs.1 crore from 2 crore.</span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Angel tax will be not scrapped as money laundering was major problem especially by shell companies or dubious startups.</span></span></li>
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<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>What is Angel Tax?</strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">It is term used to refer to income tax payable on excess capital raised by unlisted company through issue of shares over and above fair market value of those shares.</span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">This excess capital is treated as income and taxed accordingly. It has come to be called angel tax since it largely impacts angel investments in startups. It most commonly affects start-ups and angel investors who back them.</span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">It tax was introduced in the 2012 Union Budget to arrest laundering of funds. Section 56(2)(vii) of Income Tax Act primarily deals with Angle tax.</span></span></li>
</ul>
<p style="margin-left:0in; margin-right:0in"> </p>
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<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Credit Linked Capital Subsidy and Technology Up-gradation Scheme (CLCS-TUS)</span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It aims at improving competitiveness of MSMEs by integrating various ongoing schematic interventions for technology up-gradation. </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Objectives:</span></strong><span style="font-family:"Quicksand",serif"> Facilitate technology up-gradation of MSMEs by providing upfront capital subsidy of 15% (on institutional finance of up to Rs. 1 crore) for induction of well-established and improved technology in specified 51 sub-sectors/products approved.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Promote digital empowerment of MSMEs, design interventions and support protection of intellectual property of MSMEs.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Components:</span></strong><span style="font-family:"Quicksand",serif"> Technology up-gradation under it through Credit Linked Capital Subsidy (CLCS), hand holding for zero defect zero effect manufacturing (ZED), increasing productivity through waste reduction (Lean), design intervention (Design), cloud computing (Digital MSMEs), facilitation of intellectual property (IPR) and nurturing new ideas (Incubation).</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">The Zero Defect & Zero Effect component promotes reduction in emission level of greenhouse gases and improve competitiveness through reduction in defect/wastage during the manufacturing process. </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Indented beneficiary:</span></strong><span style="font-family:"Quicksand",serif"> Micro and Small Enterprises (MSEs) having valid Udyog Aadhaar Memorandum(UAM) number. It is demand driven scheme but its coverage has been made more inclusive</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Special provisions: </span></strong><span style="font-family:"Quicksand",serif">These are to promote entrepreneurship for SC/STs, women, North East Region (NER), Hill States (Jammu & Kashmir, Himachal Pradesh & Uttarakhand) Island Territories (Andaman & Nicobar and Lakshadweep) and Aspirational Districts/LWE Districts. </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">In these special cases, subsidy is admissible also for investment in acquisition/replacement of plant & machinery/equipment& technology up-gradation of any kind. </span></span></span></li>
</ul>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Background</span></strong></span></span></p>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">MSME sector is second largest employment generating sector after agriculture. It provides 80% of jobs in industry with just 20% of investment. Its contribution to nation’s GDP is around 31%. As of 2017, it accounted for 45% and 34% share in overall country’s exports and manufacturing output.</span></span></span></p>
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'title' => 'Government launches Scheme for Development of Knitting and Knitwear Sector ',
'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Union Ministry of Textiles has launched comprehensive scheme for Development of Knitting and Knitwear Sector under PowerTex India Scheme. In this regard, ministry has approved combined SFC (Standing Finance Component) of PowerTex India Scheme and Knitwear Scheme with an outlay of Rs. 487.07 crore</span></span></span></p>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Scheme for Development of Knitting and Knitwear Sector</span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It envisages creation of new service centres on public private partnership (PPP) model by industry and association in the knitting and knitwear clusters.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It also entails modernisation and upgradation of existing power loom service centres (PSCs) and institution run by Textile Research Associations (TRAs) and Export Promotion Councils Association (EPCs) in knitting and knitwear clusters.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Components of scheme: </span></strong><span style="font-family:"Quicksand",serif">(i) Group work shed scheme, (ii) Yarn bank scheme, (iii) Common facility center scheme (iv) Pradhan mantra Credit Scheme (v) Solar Energy Scheme, and (vi) Facilitation, IT, awareness, studies, surveys, market development and publicity for knitting and knitwear units.</span></span></span></li>
</ul>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Knitting and knitwear sector </span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Knitting is a major segment in the entire textile value chain. It is predominantly MSME in size and mainly located in decentralized sector. </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It is one of the major employment generator sector. It also has significant contribution on exports of textiles. </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Knitted fabrics contribute to 27% of the total fabric production in India and 15% of knitted fabric is being exported.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Some of major clusters in knitted garment sector in India are Tirupur (Tamil Nadu), Ludhiana (Punjab), Kanpur (Uttar Pradesh) and Kolkata (West Bengal). </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Tirupur is the most important export cluster, followed by Ludhiana. More than 90% of the garment is manufactured in Tirupur are exported. </span></span></span></li>
</ul>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">PowerTex India Scheme</span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It is comprehensive scheme of Ministry of Textiles for power loom sector development. It aims to boost common infrastructure and modernise power loom sector in the country. </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Its 9 components are</span></strong><span style="font-family:"Quicksand",serif">: (i) In-situ Upgradation of Plain Power looms, (ii) Group Workshed Scheme (GWS) (iii) Yarn Bank Scheme, (iv) Common Facility Centre (CFC) (v) Pradhan Mantri Credit Scheme for Power loom Weavers (vi) Solar Energy Scheme for Power looms (vii) Facilitation, IT, Awareness, Market Development and Publicity for Power loom Schemes, (viii) Tex Venture Capital Fund and (ix) Grant-in-Aid and Modernisation & Upgradation of Power loom Service Centres (PSCs).</span></span></span></li>
</ul>
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'title' => 'Cabinet approves National Policy on Software Products 2019 ',
'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Union Cabinet has approved National Policy on Software Products–2019 (NPSP-2019) to develop India as robust software product nation. It is aligned with other Government initiatives such as Start-up India, Make in India and Digital India, Skill India etc. Its implementation will lead to formulation of several schemes, initiatives, projects and measures for development of Software products sector in the country.</span></span></span></p>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">National Policy on Software Products 2019</span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Objectives:</span></strong><span style="font-family:"Quicksand",serif"> Develop India as global software product hub, driven by innovation, improved commercialization, sustainable Intellectual Property (IP), promoting technology start­ups and specialized skill sets. </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Create Indian Software Products Industry of US $70-80 billion with direct and indirect employment of 3.5 million by 2025<strong>.</strong></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Implementation:</span></strong><span style="font-family:"Quicksand",serif"> It lays out five-year road map seeking creation of 3.5 million jobs and promoting 10,000 startups with initial budget of Rs 1,500 crore. </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">This initial outlay is for seven years and is divided into Software Product Development Fund (SPDF) and Research & Innovation fund. It will be used to implement programmes planned under policy. </span></span></span></li>
</ul>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Five Missions of NPSP 2019</span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Promote creation of sustainable Indian software product industry, driven by IP. It seeks for ten-fold increase in India share of global software product market by 2025.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Nurture 10,000 technology startups in software product industry, including 1000 such startups in Tier-II and Tier-III towns/cities. Generate direct and in-direct employment for 3.5 million people by 2025.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Create talent pool for software product industry through (i) up-skilling of 1,000,000 IT professionals, (ii) motivate 100,000 school and college students and (iii) generate 10,000 specialized professionals that can provide leadership.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Build cluster-based innovation driven ecosystem by developing 20 sectoral and strategically located software product development clusters having integrated ICT infrastructure, marketing, incubation, R&D/testbeds and mentoring support.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Set up National Software Products Mission to evolve and monitor scheme and programmes for implementation of this policy. It will have participation from Government, academia and Industry.</span></span></span></li>
</ul>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Background</span></strong></span></span></p>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">The Indian IT Industry has predominantly been a service Industry. However, a need has been felt to move up the value chain through technology oriented products and services. Software product ecosystem is characterized by innovations, IP creation and large value addition increase in productivity. It has potential to significantly boost revenues and exports in IT sector, create substantive employment and entrepreneurial opportunities in emerging technologies and leverage opportunities available under existing Government programmes such as Digital India, thus leading to boost in inclusive and sustainable growth.</span></span></span></p>
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'title' => 'Cabinet approves National Mineral Policy 2019',
'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Union Cabinet chaired by Prime Minister Narendra Modi has approved National Mineral Policy 2019 (NMP 2019). It replaces National Mineral Policy 2008 (NMP 2008).</span></span></span></p>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It is aimed at bringing about more effective regulation to mining sector as well as more sustainable approach while addressing issues of those affected by mining especially tribals. It gives focus on transparency, better regulations and enforcement, balanced growth and sustainability of mining sector.</span></span></span></p>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">National Mineral Policy (NMP) 2019</span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Objective:</span></strong><span style="font-family:"Quicksand",serif"> It aims to have more effective, meaningful and implementable policy that brings in further transparency, better regulation and enforcement, balanced social and economic growth as well as sustainable mining practices.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It also aims to attract private investment through incentives while the efforts would be made to maintain a database of mineral resources and tenements under mining tenement systems. </span></span></span></li>
</ul>
<p style="margin-left:0in; margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Key Provisions in NMP 2019 to give boost to mining sector</span></strong></span></span></p>
<ul>
<li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Introduces Right of First Refusal for Reconnaissance Permit(RP)/Prospecting License(PL) holders.</span></span></span></li>
<li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Encourages private sector to take up exploration.</span></span></span></li>
<li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Proposes auctioning of virgin areas for composite RP cum PL cum ML on revenue share basis,</span></span></span></li>
<li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Encourages merger and acquisition of mining entities.</span></span></span></li>
<li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Proposes transfers of mining leases and creation of dedicated mineral corridors to boost private sector mining areas.</span></span></span></li>
<li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It also includes focus on make in India initiative and Gender sensitivity in terms of the vision.</span></span></span></li>
</ul>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Key Features of NMP 2019</span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Grant status of industry to mining activity to boost financing of mining for private sector and for acquisitions of mineral assets in other countries by private sector</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Proposes long term import export policy for mineral to help private sector in better planning and stability in business</span></span></span></li>
<li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Proposes long term export import policy for mineral sector to provide stability and as an incentive for investing in large scale commercial mining activity.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Proposes rationalization of reserved areas given to PSUs which have not been used and put these areas to auction, which will give more opportunity to private sector for participation.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Efforts need to be made to harmonize taxes, levies & royalty with world benchmarks to help private sector.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Introduces concept of <strong>Inter-Generational Equity</strong> that deals with well-being not only of present generation but also of the generations to come.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Proposes to constitute inter-ministerial body to institutionalize mechanism for ensuring sustainable development in mining.</span></span></span></li>
<li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Focusses on use coastal waterways and inland shipping for evacuation and transportation of minerals and encourages dedicated mineral corridors to facilitate the transportation of minerals. </span></span></span></li>
<li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Utilization of district mineral fund for equitable development of project affected persons and areas.</span></span></span></li>
</ul>
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'tag' => 'Commerce & Industry',
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'title' => 'Government launches SHREYAS Scheme',
'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Union Ministry of Human Resources Development has launched Scheme for Higher Education Youth in Apprenticeship and Skills (SHREYAS) for providing industry-specific apprenticeship opportunities to fresh graduates. It will be operated in conjunction with existing National Apprenticeship Promotion Scheme (NAPS).</span></span></span></p>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Scheme for Higher Education Youth in Apprenticeship and Skills (SHREYAS)</span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It is programme basket comprising initiatives of three Central Ministries, namely HRD Ministry, Ministry of Skill Development & Entrepreneurship and Ministry of Labour Employment.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It aims to boost employment skills of Indian youth by providing them with on the job work exposure through NAPS and National Career Service (NCS).</span></span></span></li>
</ul>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Objectives of SHREYAS</span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Improve employability of students by introducing employment relevance into learning process of higher education system.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Forge close functional link between education and industry or service sectors on sustainable basis<strong>.</strong></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Provide skills which are in demand to students in dynamic manner.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Establish earn while you learn system into higher education.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Help business and industry in securing good quality manpower.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Link student community with employment facilitating efforts of the Government<strong>.</strong></span></span></span></li>
</ul>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Beneficiaries: </span></strong><span style="font-family:"Quicksand",serif">It is primarily for skilling non-technical students of BA, BSc. BCom courses. It seeks to target or cover 50 lakh students by 2022.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Features:</span></strong><span style="font-family:"Quicksand",serif"> It is conceived for students in non-technical degree courses to introduce employable skills into their learning, promote apprenticeship as integral to education.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It also amalgamates employment facilitating efforts of Government in education system so that clear pathways towards employment opportunities are available to students during and after their graduation.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Implementing agencies: </span></strong><span style="font-family:"Quicksand",serif">It will be implemented by Sector Skill Councils (SSCs), initially for Banking Finance Insurance Services (BFSI), Retail, Health care, Telecom, Logistics, Media, Management services, ITeS and Apparel. More sectors will be added over time with emerging apprenticeship demand and curriculum adjustments. State Governments will also play major role in securing apprenticeship opportunities,</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Financing:</span></strong><span style="font-family:"Quicksand",serif"> Under NAPS scheme, Central Government shares 25% of stipend per month subject to maximum of Rs. 1500 per month during the period of apprenticeship. Apart from this, amount upto Rs 7500 will be provided for basic training cost, where needed.</span></span></span></li>
</ul>
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'metatitle' => 'HRD Ministry launches SHREYAS Scheme | Current Affairs Today',
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'metadescription' => 'Ministry of Human Resources Development has launched Scheme for Higher Education Youth in Apprenticeship and Skills (SHREYAS) for providing industry-specific apprenticeship opportunities to fresh graduates.',
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'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Union Ministry of Commerce has launched Transport and Marketing Assistance (TMA) Scheme for Specified Agriculture Products. It aims providing financial assistance for transport and marketing of agriculture products for boosting export of farm commodities to certain countries in Europe and North America. This scheme will be included in Foreign Trade Policy (2015-20).</span></span></span></p>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">TMA Scheme for Specified Agriculture Product</span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Objectives: </span></strong><span style="font-family:"Quicksand",serif">(i) Provide assistance for international component of transportation of agricultural produce to mitigate disadvantage of higher cost of exporting agriculture products. (ii) Promote brand recognition for Indian agricultural products in the specified overseas markets.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Coverage: </span></strong><span style="font-family:"Quicksand",serif">It will cover all exporters who are registered with relevant Export Promotion Council as per Foreign Trade Policy. It covers freight and marketing assistance for agricultural export by air as well as by sea (both normal and refrigerated cargo).</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Features:</span></strong><span style="font-family:"Quicksand",serif"> Under it, financial assistance will be provided to exporters of eligible agriculture products to permissible countries as specified from time to time.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">For export of products by sea:</span></strong><span style="font-family:"Quicksand",serif"> TMA will be based on freight paid for a full Twenty-feet Equivalent Unit (TEU) containers. </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">For export of products by air: </span></strong><span style="font-family:"Quicksand",serif">TMA will be based on per ton freight charges on the net weight of the export cargo, calculated on the full ton basis.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Government will reimburse certain portion of freight charges and provide assistance for marketing of agricultural produce.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Level of financial assistance will be different for different regions and will be admissible for exports made through EDI (electronic data interchange) ports only.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">The assistance will be admissible only if payments for exports are received in free foreign exchange through normal banking channels.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Assistance under it will be provided in cash through direct bank transfer as part reimbursement of freight paid. </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">FOB (freight on board) supplies where no freight is paid by Indian exporters are not covered under it.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Products which will not avail these benefits under it sugarcane or beet sugar and raw sugar, molasses, resins, gums, butter and other fats, milk and cream, live animals meat, beverages, spirits and vinegar and tobacco and manufactured tobacco substitutes.</span></span></span></li>
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'metadescription' => 'Union Ministry of Commerce has launched Transport and Marketing Assistance (TMA) Scheme for Specified Agriculture Products. It aims providing financial assistance for transport ',
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'title' => 'Cabinet approves Scheme to Rebate State and Central Embedded Taxes for textile sector ',
'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Union Cabinet chaired by Prime Minister Narendra Modi has approved Scheme to Rebate all state and central embedded taxes on apparel and made-up textile segment. The decision also entails change in disbursal mechanism whereby rebate of all embedded state and central levies will be done through the scrip system. The revenue foregone estimate due to decision has been pegged at Rs 6,300 annually.</span></span></span></p>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Background</span></strong></span></span></p>
<ul>
<li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Apparel and made-ups of textile sector have combined share of 55% (around US $21 billion) in total Indian textile export basket. Made-up segment includes products like bed-sheets, blankets and curtains.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">At present, these textile segments are supported under Scheme for Rebate of State Levies (RoSL). It is mainly to offset indirect taxes levied by states such as stamp duty, petroleum tax, electricity duty and mandi tax that are embedded in exports. </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">However, certain states as well as central taxes still continued to be present in cost of their exports making them less competitive in export markets.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Moreover, incentives for apparel and made-ups under Merchandise Exports from India Scheme (MEIS) were also not World Trade Organisation (WTO) compatible anymore.</span></span></span></li>
</ul>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Benefits of tax rebates</span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It is expected to make the textile sector competitive as shipments from neighbouring countries like Sri Lanka, Bangladesh and Vietnam enjoy zero duty access to EU, which is biggest export market for India's apparel sector. </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It will make exports of apparel and made-up textile segment zero-rated, thereby boosting India’s competitiveness in export markets. It will also ensure equitable and inclusive growth of textile and apparel sector. </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">The IT-driven scrip system for rebate disbursal mechanism will also help in preventing delay and ensuring speedy disbursal.</span></span></span></li>
</ul>
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'tag' => 'Commerce & Industry',
'keyword' => 'commerce-Industry',
'id' => (int) 1642,
'title' => 'TIES: Government approves assistance for three trade promotion centres',
'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Department of Commerce under Union Ministry of Trade and Commerce has approved financial assistance for three trade promotion centres under ‘Trade Infrastructure for Export Scheme (TIES)’. These three trade promotion centres are </span></span></span></span></p>
<ol>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Establishment of Main Exhibition Building (Phase-II) at Trade cum Permanent Exhibition Centre at Imphal, Manipur.</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Expansion of Chennai Trade Centre, Tamil Nadu.</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Establishment of Trade Promotion Centre at Minto Hall, Bhopal, Madhya Pradesh.</span></span></span></span></li>
</ol>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">About Trade Infrastructure for Export Scheme (TIES)</span></span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">It was launched by Union Ministry of Commerce and Industry in March, 2017. It had replaced Assistance to States for Development of Export Infrastructure and Allied Activities (ASIDE) Scheme launched in 2015.</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Objective:</span></span></strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif""> To enhance export competitiveness by bridging gaps in export infrastructure, creating focused export infrastructure and first-mile and last-mile connectivity for export-oriented projects and addressing quality and certification measures.</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Eligibility:</span></span></strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif""> Central and State Agencies, including Export Promotion Councils, SEZ Authorities, Commodities Boards and Apex Trade Bodies recognised under EXIM policy of Central Government are eligible for financial support under this scheme.</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Financial Assistance: </span></span></strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Central Government funding will be in form of grant-in-aid, normally not more than the equity being put in by the implementing agency or 50% of the total equity in the project. In case of projects located in North Eastern States and Himalayan States including J&K, this grant can be upto 80% of the total equity.</span></span></span></span></li>
</ul>
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(int) 9 => object(Cake\ORM\Entity) {
'tag' => 'Commerce & Industry',
'keyword' => 'commerce-Industry',
'id' => (int) 299,
'title' => 'Cabinet approves Phase II of FAME India Scheme ',
'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Union Cabinet has approved implementation of Phase II of Faster Adoption and Manufacturing of Electric Vehicles in India Scheme (FAME India Phase II) Scheme for promotion of Electric Mobility in the country. It is expanded version of present FAME India I scheme launched in April 2015. It has total outlay of Rs 10000 crores over the period of three years (April 2019 to 2022). </span></span></span></p>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">FAME India (Phase II) Scheme</span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It aims at promoting eco-friendly electric and hybrid vehicles in the country. The scheme is being administered by Union Ministry of Heavy Industries.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Objective:</span></strong><span style="font-family:"Quicksand",serif"> Encourage faster adoption of electric vehicles (EVs) and hybrid vehicles by offering upfront Incentive on purchase of EVs and also by way of establishing necessary charging Infrastructure for electric vehicles. It also seeks to address issue of environmental pollution and fuel security. </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Features:</span></strong><span style="font-family:"Quicksand",serif"> It gives emphasis is on electrification of public transportation that includes shared transport.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It will give demand incentives on operational expenditure model for electric buses through State/city transport corporation (STUs).</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">In three and four wheelers segment, it will incentives to vehicles used for public transport or registered for commercial purposes. In two wheelers segment, it will focus on private vehicles.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It plans to support 10 Lakhs e-2W, 5 Lakhs e-3W, 55000 4Ws and 7000 Buses.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Encourage advance technologies:</span></strong><span style="font-family:"Quicksand",serif"> Benefits of incentives under it will be extended to only those vehicles which are fitted with advance battery like Lithium Ion battery and other new battery technologies. </span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Charging Infrastructure: </span></strong><span style="font-family:"Quicksand",serif">It also proposes for establishment of charging infrastructure. It seeks seyting up about 2700 charging stations in metros, million plus cities, smart cities and cities of hilly states across the country to ensure availability of at least one charging station in grid of 3 km x 3 km.</span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It also proposes establishment of charging stations on major highways connecting major city clusters. On such highways, charging stations will be established on both sides of road at an interval of about 25 km each.</span></span></span></li>
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'tag' => 'Commerce & Industry',
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'title' => '36 Proposals shortlisted for Solar Charkha Mission',
'description' => '<p style="margin-left:0in; margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Union Ministry of Micro,Small & Medium Enterprises (MSME) has notified that total 36 proposals have been shortlisted by Khadi and Village Industries Commission (KVIC) from the proposals submitted by promoters agencies under Mission Solar Charkha. </span></span></span></span></p>
<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Mission Solar Charkha</span></span></strong></span></span></p>
<ul>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">It has been launched by Union Ministry of MSME for implementation of 50 Solar Charkha Clusters across the country with budget of Rs. 550 crore for year 2018-19 and 2019-20</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">It envisages generating direct employment for nearly one lakh persons especially in rural areas and contribute to the green economy. Solar Charkha units have been classified as Village Industries. It also seeks to link five crore women across the country to the initiative. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Objectives of Scheme</span></span></strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">: (i) To ensure inclusive growth by generation of employment, especially for youth and women, and sustainable development through solar charkha clusters in rural areas. (ii) To boost rural economy and help in arresting migration from rural to urban areas. (iii) To leverage low-cost, innovative technologies and processes for sustenance.</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Implementing agency:</span></span></strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif""> Khadi and Village Industries Commission (KVIC).</span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Target:</span></span></strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif""> To cover 50 solar clusters across the country, whereby approx.1,00,000 artisans/beneficiaries are to be covered under various scheme components. </span></span></span></span></li>
<li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Coverage:</span></span></strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif""> It is being implemented in all States of India. The geographical distribution of these clusters is throughout country, with at least 10% located in J&K and hilly states, North Eastern Region (NER). It gives special focus to 117 aspirational districts for soliciting project proposals under it.</span></span></span></span></li>
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<p style="margin-right:0in"> </p>
<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="background-color:white"><span style="font-family:"Times New Roman","serif""><span style="color:#212121">In an effort to get economic growth back on track, new decisions were taken by the Union Cabinet in its meeting, including further liberalizing of foreign direct investment (FDI) rules in four sectors.</span></span></span></span></span></p>
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<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Background</span></span></strong></span></span></p>
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<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="background-color:white"><span style="font-family:"Times New Roman","serif""><span style="color:#212121">There is a little slowing down of FDI worldwide so some significant decisions were necessary to boost growth. The new measures will try to address slowing of economy and take steps to revive growth.</span></span></span></span></span></p>
<p style="margin-right:0in"> </p>
<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Major Highlights</span></span></strong></span></span></p>
<ul>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="background-color:white"><span style="font-family:"Times New Roman","serif"">The government approved foreign investment in digital media up to stakes of 26%, allowed 100% foreign investment for coal mining and contract manufacturing, and eased sourcing norms for single-brand retailers.</span></span></span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="background-color:white"><span style="font-family:"Times New Roman","serif"">On FDI in single brand retailing, the Cabinet has expanded the definition of mandatory 30% domestic sourcing norm. It also allowed single brand retailers to start online sales. The previous rule of having compulsory brick and mortar store has been removed.</span></span></span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="background-color:white"><span style="font-family:"Times New Roman","serif"">The Cabinet has also approved 75 new medical colleges, to be established by 2021-22, with ?24,375-crore investment. This is a move to add 15,700 MBBS seats in the country.</span></span></span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="background-color:white"><span style="font-family:"Times New Roman","serif"">Government will provide ?6,268-crore subsidy towards exporting of 60 lakh metric tonnes of sugar. Subsidy will be directly transferred to farmer's account. </span></span></span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="background-color:white"><span style="font-family:"Times New Roman","serif"">The Cabinet has also approved establishment of an International Coalition for Disaster Resilient Infrastructure (CDRI) .</span></span></span></span></p>
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<p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Background</strong></span></span></p>
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<p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>GST rate changes</strong></span></span></p>
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<li>
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<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The tax levied on caffeinated beverages has been raised from 18% to 28% with an additional compensation cess of 12%, in an attempt to deter their consumption.</span></span></p>
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<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The tax levied on wet grinders that consist of stone, has been slashed from 12% to 5%, while the GST on dried tamarind and plates/cups made up of leaves, flowers or bark have been reduced to nil from 5%.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Zero GST on the export of jewellery and a reduction in the GST levied on cut and polished semi-precious stones from 3% to 0.25%.</span></span></p>
</li>
</ul>
<p><span style="font-size:11.0pt"><span style="font-family:"Calibri","sans-serif"">Reduction in the cess on large passenger vehicles that can carry 10 to 13 persons. The cess on such vehicles will be reduced from 15% over and above the 28% GST rate, to 1% for petrol vehicles of certain specifications and 3% for diesel vehicles</span></span><span style="font-size:13.5pt"><span style="background-color:whitesmoke"><span style="font-family:"Calibri","sans-serif""><span style="color:#282828">.</span></span></span></span></p>
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<li>
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</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The tax levied on caffeinated beverages has been raised from 18% to 28% with an additional compensation cess of 12%, in an attempt to deter their consumption.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The tax levied on wet grinders that consist of stone, has been slashed from 12% to 5%, while the GST on dried tamarind and plates/cups made up of leaves, flowers or bark have been reduced to nil from 5%.</span></span></p>
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<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Zero GST on the export of jewellery and a reduction in the GST levied on cut and polished semi-precious stones from 3% to 0.25%.</span></span></p>
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It also agreed to implement some key changes requested by start-ups regarding issue. The decisions were taken during meeting between officials of Department for Promotion of Industry and Internal Trade (DPIIT), Central Board of Direct Taxes (CBDT) and representatives of start-up community.</span></span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Proposed reforms in Meeting</strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Government will raise aggregate amount of paid-up share capital and share premium after proposed issue of share of startups eligible for tax exemption to Rs.25 crore.</span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Definition of start-up will be amended to include companies that have been in operation for up to 10 years rather than the previous limit of 7 years.</span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Limit on angel investor for filing income tax returns will be reduced. It will now be Rs.25 lakh for year preceding in which investment was made and net worth limit also reduced to Rs.1 crore from 2 crore.</span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Angel tax will be not scrapped as money laundering was major problem especially by shell companies or dubious startups.</span></span></li> </ul> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>What is Angel Tax?</strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">It is term used to refer to income tax payable on excess capital raised by unlisted company through issue of shares over and above fair market value of those shares.</span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">This excess capital is treated as income and taxed accordingly. It has come to be called angel tax since it largely impacts angel investments in startups. It most commonly affects start-ups and angel investors who back them.</span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">It tax was introduced in the 2012 Union Budget to arrest laundering of funds. 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Know full info In this articles', 'author' => 'Nikhil Paigude', 'downlaodpdf' => 'http://www.mediafire.com/file/i4mastytq4y5n24/6.pdf/file', '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'currentaffairs' }, (int) 1 => object(Cake\ORM\Entity) { 'tag' => 'Commerce & Industry', 'keyword' => 'commerce-Industry', 'id' => (int) 160, 'title' => 'Government to continue Credit Linked Capital Subsidy and Technology Up-gradation Scheme ', 'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has approved continuation of Credit Linked Capital Subsidy and Technology Up-gradation Scheme (CLCS-TUS) for MSME Sector. This scheme will be continued beyond 12th Five Year Plan for three years from 2017-18 to 2019-20 with total outlay of Rs.2900 crore. </span></span></span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Credit Linked Capital Subsidy and Technology Up-gradation Scheme (CLCS-TUS)</span></strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It aims at improving competitiveness of MSMEs by integrating various ongoing schematic interventions for technology up-gradation. </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Objectives:</span></strong><span style="font-family:"Quicksand",serif"> Facilitate technology up-gradation of MSMEs by providing upfront capital subsidy of 15% (on institutional finance of up to Rs. 1 crore) for induction of well-established and improved technology in specified 51 sub-sectors/products approved.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Promote digital empowerment of MSMEs, design interventions and support protection of intellectual property of MSMEs.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Components:</span></strong><span style="font-family:"Quicksand",serif"> Technology up-gradation under it through Credit Linked Capital Subsidy (CLCS), hand holding for zero defect zero effect manufacturing (ZED), increasing productivity through waste reduction (Lean), design intervention (Design), cloud computing (Digital MSMEs), facilitation of intellectual property (IPR) and nurturing new ideas (Incubation).</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">The Zero Defect & Zero Effect component promotes reduction in emission level of greenhouse gases and improve competitiveness through reduction in defect/wastage during the manufacturing process. </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Indented beneficiary:</span></strong><span style="font-family:"Quicksand",serif"> Micro and Small Enterprises (MSEs) having valid Udyog Aadhaar Memorandum(UAM) number. It is demand driven scheme but its coverage has been made more inclusive</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Special provisions: </span></strong><span style="font-family:"Quicksand",serif">These are to promote entrepreneurship for SC/STs, women, North East Region (NER), Hill States (Jammu & Kashmir, Himachal Pradesh & Uttarakhand) Island Territories (Andaman & Nicobar and Lakshadweep) and Aspirational Districts/LWE Districts. </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">In these special cases, subsidy is admissible also for investment in acquisition/replacement of plant & machinery/equipment& technology up-gradation of any kind. </span></span></span></li> </ul> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Background</span></strong></span></span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">MSME sector is second largest employment generating sector after agriculture. It provides 80% of jobs in industry with just 20% of investment. Its contribution to nation’s GDP is around 31%. As of 2017, it accounted for 45% and 34% share in overall country’s exports and manufacturing output.</span></span></span></p> ', 'created_date' => object(Cake\I18n\FrozenDate) {}, 'posturl' => 'govt-continue-clcs-tus-scheme-msme-sector', 'image' => 'https://www.mediafire.com/convkey/8727/yc526yr56x9yt7b6g.jpg', 'fbimage' => 'https://www.mediafire.com/convkey/8727/yc526yr56x9yt7b6g.jpg', 'metatitle' => 'Govt to continue Credit Linked Capital Subsidy and Technology', 'metakeyword' => 'In Business and Economy Current Affairs, Cabinet Committee on Economic Affairs, Prime Minister Narendra Modi, Continuation, Credit Linked Capital Subsidy and Technology Up-gradation Scheme, CLCS-TUS, MSME Sector.', 'metadescription' => 'Cabinet Committee on Economic Affairs, Prime Minister Narendra Modi, Continuation, Credit Linked Capital Subsidy and Technology Up-gradation Scheme, CLCS-TUS, MSME Sector.', 'author' => 'Nikhil Paigude', 'downlaodpdf' => 'http://www.mediafire.com/file/qs2npvmjtesob5s/14_FEB_Government_to_continue_Credit.pdf/file', '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'currentaffairs' }, (int) 2 => object(Cake\ORM\Entity) { 'tag' => 'Commerce & Industry', 'keyword' => 'commerce-Industry', 'id' => (int) 292, 'title' => 'Government launches Scheme for Development of Knitting and Knitwear Sector ', 'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Union Ministry of Textiles has launched comprehensive scheme for Development of Knitting and Knitwear Sector under PowerTex India Scheme. In this regard, ministry has approved combined SFC (Standing Finance Component) of PowerTex India Scheme and Knitwear Scheme with an outlay of Rs. 487.07 crore</span></span></span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Scheme for Development of Knitting and Knitwear Sector</span></strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It envisages creation of new service centres on public private partnership (PPP) model by industry and association in the knitting and knitwear clusters.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It also entails modernisation and upgradation of existing power loom service centres (PSCs) and institution run by Textile Research Associations (TRAs) and Export Promotion Councils Association (EPCs) in knitting and knitwear clusters.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Components of scheme: </span></strong><span style="font-family:"Quicksand",serif">(i) Group work shed scheme, (ii) Yarn bank scheme, (iii) Common facility center scheme (iv) Pradhan mantra Credit Scheme (v) Solar Energy Scheme, and (vi) Facilitation, IT, awareness, studies, surveys, market development and publicity for knitting and knitwear units.</span></span></span></li> </ul> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Knitting and knitwear sector </span></strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Knitting is a major segment in the entire textile value chain. It is predominantly MSME in size and mainly located in decentralized sector. </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It is one of the major employment generator sector. It also has significant contribution on exports of textiles. </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Knitted fabrics contribute to 27% of the total fabric production in India and 15% of knitted fabric is being exported.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Some of major clusters in knitted garment sector in India are Tirupur (Tamil Nadu), Ludhiana (Punjab), Kanpur (Uttar Pradesh) and Kolkata (West Bengal). </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Tirupur is the most important export cluster, followed by Ludhiana. More than 90% of the garment is manufactured in Tirupur are exported. </span></span></span></li> </ul> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">PowerTex India Scheme</span></strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It is comprehensive scheme of Ministry of Textiles for power loom sector development. It aims to boost common infrastructure and modernise power loom sector in the country. </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Its 9 components are</span></strong><span style="font-family:"Quicksand",serif">: (i) In-situ Upgradation of Plain Power looms, (ii) Group Workshed Scheme (GWS) (iii) Yarn Bank Scheme, (iv) Common Facility Centre (CFC) (v) Pradhan Mantri Credit Scheme for Power loom Weavers (vi) Solar Energy Scheme for Power looms (vii) Facilitation, IT, Awareness, Market Development and Publicity for Power loom Schemes, (viii) Tex Venture Capital Fund and (ix) Grant-in-Aid and Modernisation & Upgradation of Power loom Service Centres (PSCs).</span></span></span></li> </ul> ', 'created_date' => object(Cake\I18n\FrozenDate) {}, 'posturl' => 'scheme-for-development-knitting-knitwear-sector ', 'image' => 'https://www.mediafire.com/convkey/e939/jo75ig1muh4ai5w6g.jpg', 'fbimage' => 'https://www.mediafire.com/convkey/e939/jo75ig1muh4ai5w6g.jpg', 'metatitle' => 'Scheme for Development of Knitting and Knitwear Sector ', 'metakeyword' => 'In Government Schemes Current Affairs, Ministry of Textiles, Comprehensive scheme for Development of Knitting and Knitwear Sector, PowerTex India Scheme, ', 'metadescription' => 'Ministry of Textiles has launched comprehensive scheme for Development of Knitting and Knitwear Sector under PowerTex India Scheme', 'author' => 'Nikhil Paigude', 'downlaodpdf' => 'http://www.mediafire.com/file/9dd78a84bayu892/1Mar_Government_launches_Scheme.pdf/file', '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'currentaffairs' }, (int) 3 => object(Cake\ORM\Entity) { 'tag' => 'Commerce & Industry', 'keyword' => 'commerce-Industry', 'id' => (int) 296, 'title' => 'Cabinet approves National Policy on Software Products 2019 ', 'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Union Cabinet has approved National Policy on Software Products–2019 (NPSP-2019) to develop India as robust software product nation. It is aligned with other Government initiatives such as Start-up India, Make in India and Digital India, Skill India etc. Its implementation will lead to formulation of several schemes, initiatives, projects and measures for development of Software products sector in the country.</span></span></span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">National Policy on Software Products 2019</span></strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Objectives:</span></strong><span style="font-family:"Quicksand",serif"> Develop India as global software product hub, driven by innovation, improved commercialization, sustainable Intellectual Property (IP), promoting technology start­ups and specialized skill sets. </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Create Indian Software Products Industry of US $70-80 billion with direct and indirect employment of 3.5 million by 2025<strong>.</strong></span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Implementation:</span></strong><span style="font-family:"Quicksand",serif"> It lays out five-year road map seeking creation of 3.5 million jobs and promoting 10,000 startups with initial budget of Rs 1,500 crore. </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">This initial outlay is for seven years and is divided into Software Product Development Fund (SPDF) and Research & Innovation fund. It will be used to implement programmes planned under policy. </span></span></span></li> </ul> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Five Missions of NPSP 2019</span></strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Promote creation of sustainable Indian software product industry, driven by IP. It seeks for ten-fold increase in India share of global software product market by 2025.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Nurture 10,000 technology startups in software product industry, including 1000 such startups in Tier-II and Tier-III towns/cities. Generate direct and in-direct employment for 3.5 million people by 2025.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Create talent pool for software product industry through (i) up-skilling of 1,000,000 IT professionals, (ii) motivate 100,000 school and college students and (iii) generate 10,000 specialized professionals that can provide leadership.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Build cluster-based innovation driven ecosystem by developing 20 sectoral and strategically located software product development clusters having integrated ICT infrastructure, marketing, incubation, R&D/testbeds and mentoring support.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Set up National Software Products Mission to evolve and monitor scheme and programmes for implementation of this policy. It will have participation from Government, academia and Industry.</span></span></span></li> </ul> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Background</span></strong></span></span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">The Indian IT Industry has predominantly been a service Industry. However, a need has been felt to move up the value chain through technology oriented products and services. Software product ecosystem is characterized by innovations, IP creation and large value addition increase in productivity. It has potential to significantly boost revenues and exports in IT sector, create substantive employment and entrepreneurial opportunities in emerging technologies and leverage opportunities available under existing Government programmes such as Digital India, thus leading to boost in inclusive and sustainable growth.</span></span></span></p> ', 'created_date' => object(Cake\I18n\FrozenDate) {}, 'posturl' => 'nationa-policy-software-products-2019 ', 'image' => 'https://www.mediafire.com/convkey/a149/pscdiha39af9k4t6g.jpg', 'fbimage' => 'https://www.mediafire.com/convkey/a149/pscdiha39af9k4t6g.jpg', 'metatitle' => 'Cabinet approves National Policy on Software Products 2019 ', 'metakeyword' => 'In Government Polices Current Affairs, Union Cabinet, National Policy on Software Products–2019 (NPSP-2019), India, robust software product nation', 'metadescription' => 'Union Cabinet has approved National Policy on Software Products–2019 (NPSP-2019) to develop India as robust software product nation.', 'author' => 'Nikhil Paigude', 'downlaodpdf' => 'http://www.mediafire.com/file/czsknyy93vklu3q/1Mar_Cabinet_approves_National_Policy.pdf/file', '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'currentaffairs' }, (int) 4 => object(Cake\ORM\Entity) { 'tag' => 'Commerce & Industry', 'keyword' => 'commerce-Industry', 'id' => (int) 295, 'title' => 'Cabinet approves National Mineral Policy 2019', 'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Union Cabinet chaired by Prime Minister Narendra Modi has approved National Mineral Policy 2019 (NMP 2019). It replaces National Mineral Policy 2008 (NMP 2008).</span></span></span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It is aimed at bringing about more effective regulation to mining sector as well as more sustainable approach while addressing issues of those affected by mining especially tribals. It gives focus on transparency, better regulations and enforcement, balanced growth and sustainability of mining sector.</span></span></span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">National Mineral Policy (NMP) 2019</span></strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Objective:</span></strong><span style="font-family:"Quicksand",serif"> It aims to have more effective, meaningful and implementable policy that brings in further transparency, better regulation and enforcement, balanced social and economic growth as well as sustainable mining practices.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It also aims to attract private investment through incentives while the efforts would be made to maintain a database of mineral resources and tenements under mining tenement systems. </span></span></span></li> </ul> <p style="margin-left:0in; margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Key Provisions in NMP 2019 to give boost to mining sector</span></strong></span></span></p> <ul> <li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Introduces Right of First Refusal for Reconnaissance Permit(RP)/Prospecting License(PL) holders.</span></span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Encourages private sector to take up exploration.</span></span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Proposes auctioning of virgin areas for composite RP cum PL cum ML on revenue share basis,</span></span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Encourages merger and acquisition of mining entities.</span></span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Proposes transfers of mining leases and creation of dedicated mineral corridors to boost private sector mining areas.</span></span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It also includes focus on make in India initiative and Gender sensitivity in terms of the vision.</span></span></span></li> </ul> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Key Features of NMP 2019</span></strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Grant status of industry to mining activity to boost financing of mining for private sector and for acquisitions of mineral assets in other countries by private sector</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Proposes long term import export policy for mineral to help private sector in better planning and stability in business</span></span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Proposes long term export import policy for mineral sector to provide stability and as an incentive for investing in large scale commercial mining activity.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Proposes rationalization of reserved areas given to PSUs which have not been used and put these areas to auction, which will give more opportunity to private sector for participation.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Efforts need to be made to harmonize taxes, levies & royalty with world benchmarks to help private sector.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Introduces concept of <strong>Inter-Generational Equity</strong> that deals with well-being not only of present generation but also of the generations to come.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Proposes to constitute inter-ministerial body to institutionalize mechanism for ensuring sustainable development in mining.</span></span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Focusses on use coastal waterways and inland shipping for evacuation and transportation of minerals and encourages dedicated mineral corridors to facilitate the transportation of minerals. </span></span></span></li> <li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Utilization of district mineral fund for equitable development of project affected persons and areas.</span></span></span></li> </ul> ', 'created_date' => object(Cake\I18n\FrozenDate) {}, 'posturl' => 'national-mineral-policy-2019', 'image' => 'https://www.mediafire.com/convkey/e868/5kbtzl2zi1h3g6j6g.jpg', 'fbimage' => 'https://www.mediafire.com/convkey/e868/5kbtzl2zi1h3g6j6g.jpg', 'metatitle' => 'Cabinet approves National Mineral Policy 2019 | Current Affairs', 'metakeyword' => 'In National Current Affairs, Cabinet,approves, National Mineral Policy 2019, NMP 2019, replaces, National Mineral Policy 2008, Mining Sector, ', 'metadescription' => 'Cabinet chaired by Prime Minister Narendra Modi has approved National Mineral Policy 2019 (NMP 2019). It replaces National Mineral Policy 2008 (NMP 2008).', 'author' => 'Nikhil Paigude', 'downlaodpdf' => 'http://www.mediafire.com/file/8pi6krn4uk7xnru/1Mar_Cabinet_approves_National.pdf/file', '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'currentaffairs' }, (int) 5 => object(Cake\ORM\Entity) { 'tag' => 'Commerce & Industry', 'keyword' => 'commerce-Industry', 'id' => (int) 290, 'title' => 'Government launches SHREYAS Scheme', 'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Union Ministry of Human Resources Development has launched Scheme for Higher Education Youth in Apprenticeship and Skills (SHREYAS) for providing industry-specific apprenticeship opportunities to fresh graduates. It will be operated in conjunction with existing National Apprenticeship Promotion Scheme (NAPS).</span></span></span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Scheme for Higher Education Youth in Apprenticeship and Skills (SHREYAS)</span></strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It is programme basket comprising initiatives of three Central Ministries, namely HRD Ministry, Ministry of Skill Development & Entrepreneurship and Ministry of Labour Employment.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It aims to boost employment skills of Indian youth by providing them with on the job work exposure through NAPS and National Career Service (NCS).</span></span></span></li> </ul> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Objectives of SHREYAS</span></strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Improve employability of students by introducing employment relevance into learning process of higher education system.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Forge close functional link between education and industry or service sectors on sustainable basis<strong>.</strong></span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Provide skills which are in demand to students in dynamic manner.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Establish earn while you learn system into higher education.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Help business and industry in securing good quality manpower.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Link student community with employment facilitating efforts of the Government<strong>.</strong></span></span></span></li> </ul> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Beneficiaries: </span></strong><span style="font-family:"Quicksand",serif">It is primarily for skilling non-technical students of BA, BSc. BCom courses. It seeks to target or cover 50 lakh students by 2022.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Features:</span></strong><span style="font-family:"Quicksand",serif"> It is conceived for students in non-technical degree courses to introduce employable skills into their learning, promote apprenticeship as integral to education.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It also amalgamates employment facilitating efforts of Government in education system so that clear pathways towards employment opportunities are available to students during and after their graduation.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Implementing agencies: </span></strong><span style="font-family:"Quicksand",serif">It will be implemented by Sector Skill Councils (SSCs), initially for Banking Finance Insurance Services (BFSI), Retail, Health care, Telecom, Logistics, Media, Management services, ITeS and Apparel. More sectors will be added over time with emerging apprenticeship demand and curriculum adjustments. State Governments will also play major role in securing apprenticeship opportunities,</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Financing:</span></strong><span style="font-family:"Quicksand",serif"> Under NAPS scheme, Central Government shares 25% of stipend per month subject to maximum of Rs. 1500 per month during the period of apprenticeship. Apart from this, amount upto Rs 7500 will be provided for basic training cost, where needed.</span></span></span></li> </ul> ', 'created_date' => object(Cake\I18n\FrozenDate) {}, 'posturl' => 'govt-launches-shreyas-scheme', 'image' => 'https://www.mediafire.com/convkey/df4c/q8ggk3395x1q22f6g.jpg', 'fbimage' => 'https://www.mediafire.com/convkey/df4c/q8ggk3395x1q22f6g.jpg', 'metatitle' => 'HRD Ministry launches SHREYAS Scheme | Current Affairs Today', 'metakeyword' => 'in Government Schemes Current Affairs, Ministry of Human Resources Development, launches, Scheme for Higher Education Youth in Apprenticeship and Skills, SHREYAS, providing, industry-specific, apprenticeship opportunities, fresh graduates', 'metadescription' => 'Ministry of Human Resources Development has launched Scheme for Higher Education Youth in Apprenticeship and Skills (SHREYAS) for providing industry-specific apprenticeship opportunities to fresh graduates.', 'author' => 'Nikhil Paigude', 'downlaodpdf' => 'http://www.mediafire.com/file/9sq6wtqu9tdoqgc/28feb_Government_launches_SHREYAS.pdf/file', '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'currentaffairs' }, (int) 6 => object(Cake\ORM\Entity) { 'tag' => 'Commerce & Industry', 'keyword' => 'commerce-Industry', 'id' => (int) 357, 'title' => 'Transport and Marketing Assistance Scheme for Agriculture Products launched ', 'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Union Ministry of Commerce has launched Transport and Marketing Assistance (TMA) Scheme for Specified Agriculture Products. It aims providing financial assistance for transport and marketing of agriculture products for boosting export of farm commodities to certain countries in Europe and North America. This scheme will be included in Foreign Trade Policy (2015-20).</span></span></span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">TMA Scheme for Specified Agriculture Product</span></strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Objectives: </span></strong><span style="font-family:"Quicksand",serif">(i) Provide assistance for international component of transportation of agricultural produce to mitigate disadvantage of higher cost of exporting agriculture products. (ii) Promote brand recognition for Indian agricultural products in the specified overseas markets.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Coverage: </span></strong><span style="font-family:"Quicksand",serif">It will cover all exporters who are registered with relevant Export Promotion Council as per Foreign Trade Policy. It covers freight and marketing assistance for agricultural export by air as well as by sea (both normal and refrigerated cargo).</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Features:</span></strong><span style="font-family:"Quicksand",serif"> Under it, financial assistance will be provided to exporters of eligible agriculture products to permissible countries as specified from time to time.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">For export of products by sea:</span></strong><span style="font-family:"Quicksand",serif"> TMA will be based on freight paid for a full Twenty-feet Equivalent Unit (TEU) containers. </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">For export of products by air: </span></strong><span style="font-family:"Quicksand",serif">TMA will be based on per ton freight charges on the net weight of the export cargo, calculated on the full ton basis.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Government will reimburse certain portion of freight charges and provide assistance for marketing of agricultural produce.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Level of financial assistance will be different for different regions and will be admissible for exports made through EDI (electronic data interchange) ports only.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">The assistance will be admissible only if payments for exports are received in free foreign exchange through normal banking channels.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Assistance under it will be provided in cash through direct bank transfer as part reimbursement of freight paid. </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">FOB (freight on board) supplies where no freight is paid by Indian exporters are not covered under it.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Products which will not avail these benefits under it sugarcane or beet sugar and raw sugar, molasses, resins, gums, butter and other fats, milk and cream, live animals meat, beverages, spirits and vinegar and tobacco and manufactured tobacco substitutes.</span></span></span></li> </ul> ', 'created_date' => object(Cake\I18n\FrozenDate) {}, 'posturl' => 'transport-marketing-assistance-scheme-agriculture-products', 'image' => 'https://www.mediafire.com/convkey/2494/y9arbp58l0t5qq56g.jpg', 'fbimage' => 'https://www.mediafire.com/convkey/2494/y9arbp58l0t5qq56g.jpg', 'metatitle' => 'TMA Scheme for Agriculture Products | Current Affairs Articles', 'metakeyword' => 'In Government Schemes Current Affairs, Transport and Marketing Assistance Scheme for Agriculture Products launched ', 'metadescription' => 'Union Ministry of Commerce has launched Transport and Marketing Assistance (TMA) Scheme for Specified Agriculture Products. It aims providing financial assistance for transport ', 'author' => 'Nikhil Paigude', 'downlaodpdf' => 'http://www.mediafire.com/file/f45ckhuoa05lfw1/6MAR_Transport_and_Marketing_Assistance.pdf/file', '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'currentaffairs' }, (int) 7 => object(Cake\ORM\Entity) { 'tag' => 'Commerce & Industry', 'keyword' => 'commerce-Industry', 'id' => (int) 389, 'title' => 'Cabinet approves Scheme to Rebate State and Central Embedded Taxes for textile sector ', 'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Union Cabinet chaired by Prime Minister Narendra Modi has approved Scheme to Rebate all state and central embedded taxes on apparel and made-up textile segment. The decision also entails change in disbursal mechanism whereby rebate of all embedded state and central levies will be done through the scrip system. The revenue foregone estimate due to decision has been pegged at Rs 6,300 annually.</span></span></span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Background</span></strong></span></span></p> <ul> <li><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Apparel and made-ups of textile sector have combined share of 55% (around US $21 billion) in total Indian textile export basket. Made-up segment includes products like bed-sheets, blankets and curtains.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">At present, these textile segments are supported under Scheme for Rebate of State Levies (RoSL). It is mainly to offset indirect taxes levied by states such as stamp duty, petroleum tax, electricity duty and mandi tax that are embedded in exports. </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">However, certain states as well as central taxes still continued to be present in cost of their exports making them less competitive in export markets.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Moreover, incentives for apparel and made-ups under Merchandise Exports from India Scheme (MEIS) were also not World Trade Organisation (WTO) compatible anymore.</span></span></span></li> </ul> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Benefits of tax rebates</span></strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It is expected to make the textile sector competitive as shipments from neighbouring countries like Sri Lanka, Bangladesh and Vietnam enjoy zero duty access to EU, which is biggest export market for India's apparel sector. </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It will make exports of apparel and made-up textile segment zero-rated, thereby boosting India’s competitiveness in export markets. It will also ensure equitable and inclusive growth of textile and apparel sector. </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">The IT-driven scrip system for rebate disbursal mechanism will also help in preventing delay and ensuring speedy disbursal.</span></span></span></li> </ul> ', 'created_date' => object(Cake\I18n\FrozenDate) {}, 'posturl' => 'scheme-rebate-state-and-central-taxes-textiles ', 'image' => 'https://www.mediafire.com/convkey/1307/nvzs4qoy876q4ug6g.jpg', 'fbimage' => 'https://www.mediafire.com/convkey/1307/nvzs4qoy876q4ug6g.jpg', 'metatitle' => 'Scheme to Rebate State and Central Taxes for textiles approved', 'metakeyword' => 'In Government Schemes Current Affairs, Cabinet, approves, Scheme to Rebate all state and central embedded taxes, apparel, made-up textile segment', 'metadescription' => 'Cabinet chaired by Prime Minister Narendra Modi has approved Scheme to Rebate all state and central embedded taxes on apparel and made-up textile segment.', 'author' => 'Nikhil Paigude', 'downlaodpdf' => 'http://www.mediafire.com/file/6naxfe0fsdg0lzt/8Mar_Cabinet_approves_Scheme_to_Rebate.pdf/file', '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'currentaffairs' }, (int) 8 => object(Cake\ORM\Entity) { 'tag' => 'Commerce & Industry', 'keyword' => 'commerce-Industry', 'id' => (int) 1642, 'title' => 'TIES: Government approves assistance for three trade promotion centres', 'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Department of Commerce under Union Ministry of Trade and Commerce has approved financial assistance for three trade promotion centres under ‘Trade Infrastructure for Export Scheme (TIES)’. These three trade promotion centres are </span></span></span></span></p> <ol> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Establishment of Main Exhibition Building (Phase-II) at Trade cum Permanent Exhibition Centre at Imphal, Manipur.</span></span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Expansion of Chennai Trade Centre, Tamil Nadu.</span></span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Establishment of Trade Promotion Centre at Minto Hall, Bhopal, Madhya Pradesh.</span></span></span></span></li> </ol> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">About Trade Infrastructure for Export Scheme (TIES)</span></span></strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">It was launched by Union Ministry of Commerce and Industry in March, 2017. It had replaced Assistance to States for Development of Export Infrastructure and Allied Activities (ASIDE) Scheme launched in 2015.</span></span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Objective:</span></span></strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif""> To enhance export competitiveness by bridging gaps in export infrastructure, creating focused export infrastructure and first-mile and last-mile connectivity for export-oriented projects and addressing quality and certification measures.</span></span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Eligibility:</span></span></strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif""> Central and State Agencies, including Export Promotion Councils, SEZ Authorities, Commodities Boards and Apex Trade Bodies recognised under EXIM policy of Central Government are eligible for financial support under this scheme.</span></span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Financial Assistance: </span></span></strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Central Government funding will be in form of grant-in-aid, normally not more than the equity being put in by the implementing agency or 50% of the total equity in the project. In case of projects located in North Eastern States and Himalayan States including J&K, this grant can be upto 80% of the total equity.</span></span></span></span></li> </ul> ', 'created_date' => object(Cake\I18n\FrozenDate) {}, 'posturl' => 'ties-assistance-3-trade-promotion-centres', 'image' => 'https://www.mediafire.com/convkey/f1f8/11ubzadb6b8f3l46g.jpg', 'fbimage' => 'https://www.mediafire.com/convkey/f1f8/11ubzadb6b8f3l46g.jpg', 'metatitle' => 'Govt approves assistance for three trade promotion', 'metakeyword' => 'Department of Commerce under Union Ministry of Trade and Commerce has approved financial assistance for three trade promotion centres under ‘Trade Infrastructure for Export Scheme ', 'metadescription' => 'Department of Commerce under Union Ministry of Trade and Commerce has approved financial assistance for three trade promotion centres under ‘Trade Infrastructure for Export Scheme ', 'author' => 'Nikhil Paigude', 'downlaodpdf' => 'https://www.mediafire.com/file/7rq3pg4gd6g49jb/TIES_Government_approves.pdf/file', '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'currentaffairs' }, (int) 9 => object(Cake\ORM\Entity) { 'tag' => 'Commerce & Industry', 'keyword' => 'commerce-Industry', 'id' => (int) 299, 'title' => 'Cabinet approves Phase II of FAME India Scheme ', 'description' => '<p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">Union Cabinet has approved implementation of Phase II of Faster Adoption and Manufacturing of Electric Vehicles in India Scheme (FAME India Phase II) Scheme for promotion of Electric Mobility in the country. It is expanded version of present FAME India I scheme launched in April 2015. It has total outlay of Rs 10000 crores over the period of three years (April 2019 to 2022). </span></span></span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">FAME India (Phase II) Scheme</span></strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It aims at promoting eco-friendly electric and hybrid vehicles in the country. The scheme is being administered by Union Ministry of Heavy Industries.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Objective:</span></strong><span style="font-family:"Quicksand",serif"> Encourage faster adoption of electric vehicles (EVs) and hybrid vehicles by offering upfront Incentive on purchase of EVs and also by way of establishing necessary charging Infrastructure for electric vehicles. It also seeks to address issue of environmental pollution and fuel security. </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Features:</span></strong><span style="font-family:"Quicksand",serif"> It gives emphasis is on electrification of public transportation that includes shared transport.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It will give demand incentives on operational expenditure model for electric buses through State/city transport corporation (STUs).</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">In three and four wheelers segment, it will incentives to vehicles used for public transport or registered for commercial purposes. In two wheelers segment, it will focus on private vehicles.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It plans to support 10 Lakhs e-2W, 5 Lakhs e-3W, 55000 4Ws and 7000 Buses.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Encourage advance technologies:</span></strong><span style="font-family:"Quicksand",serif"> Benefits of incentives under it will be extended to only those vehicles which are fitted with advance battery like Lithium Ion battery and other new battery technologies. </span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Quicksand",serif">Charging Infrastructure: </span></strong><span style="font-family:"Quicksand",serif">It also proposes for establishment of charging infrastructure. It seeks seyting up about 2700 charging stations in metros, million plus cities, smart cities and cities of hilly states across the country to ensure availability of at least one charging station in grid of 3 km x 3 km.</span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Quicksand",serif">It also proposes establishment of charging stations on major highways connecting major city clusters. On such highways, charging stations will be established on both sides of road at an interval of about 25 km each.</span></span></span></li> </ul> ', 'created_date' => object(Cake\I18n\FrozenDate) {}, 'posturl' => 'fame-india-scheme-phase2', 'image' => 'https://www.mediafire.com/convkey/d7b1/rfoj66pyccq3zql6g.jpg', 'fbimage' => 'https://www.mediafire.com/convkey/d7b1/rfoj66pyccq3zql6g.jpg', 'metatitle' => 'Cabinet approves Phase II of FAME India Scheme', 'metakeyword' => 'In Government Schemes Current Affairs, Cabinet, Phase II, FAME India Scheme,Electric Mobility, Faster Adoption and Manufacturing of Electric Vehicles', 'metadescription' => 'Cabinet has approved implementation of Phase II of Faster Adoption and Manufacturing of Electric Vehicles in India Scheme (FAME India Phase II) Scheme for promotion of Electric Mobility in the country.', 'author' => 'Nikhil Paigude', 'downlaodpdf' => 'http://www.mediafire.com/file/y6g1ocam5m2tqmc/1Mar_Cabinet_approves_Phase_II.pdf/file', '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'currentaffairs' }, (int) 10 => object(Cake\ORM\Entity) { 'tag' => 'Commerce & Industry', 'keyword' => 'commerce-Industry', 'id' => (int) 1741, 'title' => '36 Proposals shortlisted for Solar Charkha Mission', 'description' => '<p style="margin-left:0in; margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Union Ministry of Micro,Small & Medium Enterprises (MSME) has notified that total 36 proposals have been shortlisted by Khadi and Village Industries Commission (KVIC) from the proposals submitted by promoters agencies under Mission Solar Charkha. </span></span></span></span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Mission Solar Charkha</span></span></strong></span></span></p> <ul> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">It has been launched by Union Ministry of MSME for implementation of 50 Solar Charkha Clusters across the country with budget of Rs. 550 crore for year 2018-19 and 2019-20</span></span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">It envisages generating direct employment for nearly one lakh persons especially in rural areas and contribute to the green economy. Solar Charkha units have been classified as Village Industries. It also seeks to link five crore women across the country to the initiative. </span></span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Objectives of Scheme</span></span></strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">: (i) To ensure inclusive growth by generation of employment, especially for youth and women, and sustainable development through solar charkha clusters in rural areas. (ii) To boost rural economy and help in arresting migration from rural to urban areas. (iii) To leverage low-cost, innovative technologies and processes for sustenance.</span></span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Implementing agency:</span></span></strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif""> Khadi and Village Industries Commission (KVIC).</span></span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Target:</span></span></strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif""> To cover 50 solar clusters across the country, whereby approx.1,00,000 artisans/beneficiaries are to be covered under various scheme components. </span></span></span></span></li> <li style="text-align:justify"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Coverage:</span></span></strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif""> It is being implemented in all States of India. The geographical distribution of these clusters is throughout country, with at least 10% located in J&K and hilly states, North Eastern Region (NER). It gives special focus to 117 aspirational districts for soliciting project proposals under it.</span></span></span></span></li> </ul> ', 'created_date' => object(Cake\I18n\FrozenDate) {}, 'posturl' => '36-proposals-shortlisted-solar-charkha-mission', 'image' => 'https://www.mediafire.com/convkey/329b/dd3nsr4teralf8r6g.jpg', 'fbimage' => 'https://www.mediafire.com/convkey/329b/dd3nsr4teralf8r6g.jpg', 'metatitle' => '36 Proposals shortlisted for Solar Charkha', 'metakeyword' => 'Union Ministry of Micro,Small & Medium Enterprises (MSME) has notified that total 36 proposals have been shortlisted by Khadi and Village Industries Commission (KVIC) ', 'metadescription' => 'Union Ministry of Micro,Small & Medium Enterprises (MSME) has notified that total 36 proposals have been shortlisted by Khadi and Village Industries Commission (KVIC) ', 'author' => 'Nikhil Paigude', 'downlaodpdf' => 'https://www.mediafire.com/file/i9kvrminon3ou0u/36_Proposals_shortlisted_for_Solar_Charkha_Mission.pdf/file', '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'currentaffairs' }, (int) 11 => object(Cake\ORM\Entity) { 'tag' => 'Commerce & Industry', 'keyword' => 'commerce-Industry', 'id' => (int) 1745, 'title' => 'Handloom Marketing Assistance Scheme for marketing Arani Silk Saree', 'description' => '<p style="margin-left:0in; margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Union Ministry of Textiles is implementing Handloom Marketing Assistance (HMA) Scheme for providing marketing facility to all the handloom products including Arani Silk saree. This information was given by the Union Minister of Textiles, Smriti Zubin Irani in a written reply in the Lok Sabha. <strong>Arani Sari </strong>is a traditional silk sari made in Arani, Tamil Nadu. It enjoys Geographical Indication Tag.</span></span></span></span></p> <p style="margin-left:0in; margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">Handloom Marketing Assistance (HMA) Scheme</span></span></strong></span></span></p> <p style="margin-left:0in; margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:9.0pt"><span style="font-family:"Quicksand","serif"">It is component of National Handloom Development Programme (NHDP). It provides marketing platform to the handloom weavers/organisations to sell their products directly to the consumers. It provides financial assistance to National Level Handloom Organisations and nominated handloom agencies of State Governments to organize marketing events like National Handloom Expos (NHEs), Special Handloom Expos (SHEs) and District Level Events (DLEs).</span></span></span></span></p> ', 'created_date' => object(Cake\I18n\FrozenDate) {}, 'posturl' => 'handloom-marketing-assistance-scheme', 'image' => 'https://www.mediafire.com/convkey/6ed7/fp3kvo5ydsg7u206g.jpg', 'fbimage' => 'https://www.mediafire.com/convkey/6ed7/fp3kvo5ydsg7u206g.jpg', 'metatitle' => 'Handloom Marketing Assistance Scheme', 'metakeyword' => 'Union Ministry of Textiles is implementing Handloom Marketing Assistance (HMA) Scheme for providing marketing facility to all the handloom products including Arani Silk saree', 'metadescription' => 'Union Ministry of Textiles is implementing Handloom Marketing Assistance (HMA) Scheme for providing marketing facility to all the handloom products including Arani Silk saree', 'author' => 'Nikhil Paigude', 'downlaodpdf' => 'https://www.mediafire.com/file/1tzqovl52mp2glm/Handloom_Marketing_Assistance_Scheme.pdf/file', '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'currentaffairs' }, (int) 12 => object(Cake\ORM\Entity) { 'tag' => 'Commerce & Industry', 'keyword' => 'commerce-Industry', 'id' => (int) 2035, 'title' => 'New government policies announced after cabinet meet', 'description' => '<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Issue</span></span></strong></span></span></p> <p style="margin-right:0in"> </p> <p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="background-color:white"><span style="font-family:"Times New Roman","serif""><span style="color:#212121">In an effort to get economic growth back on track, new decisions were taken by the Union Cabinet in its meeting, including further liberalizing of foreign direct investment (FDI) rules in four sectors.</span></span></span></span></span></p> <p style="margin-right:0in"> </p> <p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Background</span></span></strong></span></span></p> <p style="margin-right:0in"> </p> <p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="background-color:white"><span style="font-family:"Times New Roman","serif""><span style="color:#212121">There is a little slowing down of FDI worldwide so some significant decisions were necessary to boost growth. The new measures will try to address slowing of economy and take steps to revive growth.</span></span></span></span></span></p> <p style="margin-right:0in"> </p> <p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Major Highlights</span></span></strong></span></span></p> <ul> <li> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="background-color:white"><span style="font-family:"Times New Roman","serif"">The government approved foreign investment in digital media up to stakes of 26%, allowed 100% foreign investment for coal mining and contract manufacturing, and eased sourcing norms for single-brand retailers.</span></span></span></span></p> </li> <li> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="background-color:white"><span style="font-family:"Times New Roman","serif"">On FDI in single brand retailing, the Cabinet has expanded the definition of mandatory 30% domestic sourcing norm. It also allowed single brand retailers to start online sales. The previous rule of having compulsory brick and mortar store has been removed.</span></span></span></span></p> </li> <li> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="background-color:white"><span style="font-family:"Times New Roman","serif"">The Cabinet has also approved 75 new medical colleges, to be established by 2021-22, with ?24,375-crore investment. This is a move to add 15,700 MBBS seats in the country.</span></span></span></span></p> </li> <li> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="background-color:white"><span style="font-family:"Times New Roman","serif"">Government will provide ?6,268-crore subsidy towards exporting of 60 lakh metric tonnes of sugar. Subsidy will be directly transferred to farmer's account. </span></span></span></span></p> </li> <li> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="background-color:white"><span style="font-family:"Times New Roman","serif"">The Cabinet has also approved establishment of an International Coalition for Disaster Resilient Infrastructure (CDRI) .</span></span></span></span></p> </li> </ul> ', 'created_date' => object(Cake\I18n\FrozenDate) {}, 'posturl' => 'new-government-policies-announced', 'image' => 'https://www.mediafire.com/convkey/58eb/f17i2v2ihof7hna6g.jpg', 'fbimage' => 'https://www.mediafire.com/convkey/58eb/f17i2v2ihof7hna6g.jpg', 'metatitle' => 'New government policies announced after cabinet meet', 'metakeyword' => 'New government policies announced after cabinet meet', 'metadescription' => 'In an effort to get economic growth back on track, new decisions were taken by the Union Cabinet in its meeting, including further liberalizing of foreign', 'author' => null, 'downlaodpdf' => 'https://www.mediafire.com/file/8f0z2wxduqvh511/New_government_policies.pdf/file', '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'currentaffairs' }, (int) 13 => object(Cake\ORM\Entity) { 'tag' => 'Commerce & Industry', 'keyword' => 'commerce-Industry', 'id' => (int) 2280, 'title' => 'GST council rate cuts', 'description' => '<p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Issue</strong></span></span></p> <p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Goods and Services Tax (GST) Council has cut taxes on hotel accommodation, outdoor catering, cut and polished semi-precious stones and lowered cess on passenger vehicles during its review meeting.</span></span><br /> </p> <p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Background</strong></span></span></p> <p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The GST rates were slated for a tweak considering growing demands from various sectors to review the rates such as automobile and consumer goods.</span></span></p> <p style="margin-right:0cm"> </p> <p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>GST rate changes</strong></span></span></p> <ul> <li> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The GST rate on hotel rooms with tariffs above ?7,500 per day, which is presently 28%, has been reduced to 18%, while the tax on rooms with a transaction value of ?1001 to ?7,500 per day will be 12%, down from 18% currently.</span></span></p> </li> <li> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The tax levied on caffeinated beverages has been raised from 18% to 28% with an additional compensation cess of 12%, in an attempt to deter their consumption.</span></span></p> </li> <li> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The tax levied on wet grinders that consist of stone, has been slashed from 12% to 5%, while the GST on dried tamarind and plates/cups made up of leaves, flowers or bark have been reduced to nil from 5%.</span></span></p> </li> <li> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Zero GST on the export of jewellery and a reduction in the GST levied on cut and polished semi-precious stones from 3% to 0.25%.</span></span></p> </li> </ul> <p><span style="font-size:11.0pt"><span style="font-family:"Calibri","sans-serif"">Reduction in the cess on large passenger vehicles that can carry 10 to 13 persons. The cess on such vehicles will be reduced from 15% over and above the 28% GST rate, to 1% for petrol vehicles of certain specifications and 3% for diesel vehicles</span></span><span style="font-size:13.5pt"><span style="background-color:whitesmoke"><span style="font-family:"Calibri","sans-serif""><span style="color:#282828">.</span></span></span></span></p> ', 'created_date' => object(Cake\I18n\FrozenDate) {}, 'posturl' => 'gst-council-rate-cuts', 'image' => 'https://www.mediafire.com/convkey/1fde/yhtoxhve3d7toa26g.jpg', 'fbimage' => 'https://www.mediafire.com/convkey/1fde/yhtoxhve3d7toa26g.jpg', 'metatitle' => 'GST council rate cuts', 'metakeyword' => 'flowers or bark have been reduced to nil from 5%.', 'metadescription' => 'The tax levied on wet grinders that consist of stone, has been slashed from 12% to 5%, while the GST on dried tamarind and plates/cups made up of leaves, ', 'author' => null, 'downlaodpdf' => 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'tag' => 'Commerce & Industry', 'keyword' => 'commerce-Industry', 'id' => (int) 2280, 'title' => 'GST council rate cuts', 'description' => '<p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Issue</strong></span></span></p> <p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Goods and Services Tax (GST) Council has cut taxes on hotel accommodation, outdoor catering, cut and polished semi-precious stones and lowered cess on passenger vehicles during its review meeting.</span></span><br /> </p> <p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Background</strong></span></span></p> <p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The GST rates were slated for a tweak considering growing demands from various sectors to review the rates such as automobile and consumer goods.</span></span></p> <p style="margin-right:0cm"> </p> <p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>GST rate changes</strong></span></span></p> <ul> <li> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The GST rate on hotel rooms with tariffs above ?7,500 per day, which is presently 28%, has been reduced to 18%, while the tax on rooms with a transaction value of ?1001 to ?7,500 per day will be 12%, down from 18% currently.</span></span></p> </li> <li> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The tax levied on caffeinated beverages has been raised from 18% to 28% with an additional compensation cess of 12%, in an attempt to deter their consumption.</span></span></p> </li> <li> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The tax levied on wet grinders that consist of stone, has been slashed from 12% to 5%, while the GST on 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