BUSINESS
Covid relief: Measures worth over Rs 6 lakh cr announced
Accordingly, Finance Minister Nirmala Sitharaman announced eight relief measures worth Rs 6,28,993 crore. These measures entail enhancement of existing relief schemes such as ECGLS and support for state governments. Besides, a total of four new measures were announced to provide loans to micro credit borrowers as well as tourism industry.
Govt extends PLI for large-scale electronics manufacturing till FY26
The participating companies will get the option of choosing any five years for meeting their production targets under the scheme. Further, investments made in 2020-21 will continue to be covered. The scheme provides incentive of 6 per cent to 4 per cent on incremental sales of goods under target segments that are manufactured in India, for a period of five years.
Vedanta rolls out scheme for MSMEs under 'Saathi' programme
Under the company's Vedanta Saathi programme, MSMEs can avail a discount of Rs 500 per tonne on the first 500 tonnes of purchase in Aluminium, Zinc, Lead, Silver, Steel and Pig Iron, on first come first served basis. The scheme will be live for this week, ending on July 3, 2021. For eligibility, MSMEs must have manufacturing operations in the metals business.
Centre makes another bid to reform state discoms with Rs 3.03 lakh cr aid package
Announcing an economic relief package in the wake of Covid-19 disruptions, Union finance minister Nirmala Sitharaman unveiled
a Rs 3.03 lakh crore reform-based, results linked power distribution scheme as yet another attempt to restore the financial health of discoms by cutting down losses.
Atmanirbhar Bharat Rozgar Yojana extended till March 2022
The scheme was so far valid till June 30, 2021. With an approved outlay of Rs 22,810 crore, the scheme entails subsidy for two years to new employees drawing monthly wages of less than Rs 15,000. The government would subsidise both employers' and employees' share of provident fund (PF) contribution, amounting to 24 per cent of wages for establishment having strength of up to 1,000 employees.
Govt to give tourist visa free of charge to 5 lakh travellers
As part of the financial relief package for the travel industry, finance minister Sitharaman announced that once visa issuance is restarted, the first 5 lakh tourists' visas will be issued free of charge. She said that this has been one of the demands of the travel industry which the government has accepted. The financial implication of the move is expected in the range of Rs 100 crore.
ECLGS gets additional Rs 1.5 lakh cr
Accordingly, overall cap of admissible guarantee under the scheme has been raised from Rs 3 lakh crore announced in May 2020 to Rs 4.5 lakh crore now. The ECGLS was launched in May 2020 as part of Atmanirbhar Bharat package. So far in three packages, credit disbursal of Rs 2.69 lakh crore has already been given to 1.1 crore units by banks and NBFCs.
Stock Talk: Top 5 paint companies stocks on market today
India is the hub of top-quality paints, and the leading paint companies are based in this country. Some of the brands originate from western countries; they manufacture Indian style paint for the population.
Dr Reddy's announces commercial launch of 2-DG
2-DG manufactured by Dr. Reddy's has a purity of 99.5% and is being sold commercially under the brand name 2DG, the Hyderabad-based pharma major said. The maximum retail price (MRP) of each sachet has been fixed at Rs. 990,with a subsidized rate offered to government institutions. Enquiries for 2DGTMcan be sent to [email protected].
FM announces Rs 1.1 L cr loan guarantee scheme for Covid affected sectors
The scheme would include Rs 50,000 crore loan to the health sector aimed at scaling medical infrastructure targeting underserved areas. The scheme would entail guarantee cover for expansion and new projects related to health and medical infrastructure in cities other than eight metropolitan cities. For aspirational districts, the guarantee cover would be 75 per cent for both new projects and expansion.
Don't Miss
Advertisement