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    December 31, 2020
    Tariff Notification No. 117/2020-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and S...
    December 31, 2020
    Quarterly report on Public Debt Management of quarter July to September, 2020
    December 31, 2020
    Odisha becomes the 7th State to complete ease of doing business reforms
    December 31, 2020
    Extension of time limits for income tax returns
    December 30, 2020
    Year End Review 2020 - Department of Commerce, Ministry of Commerce & Industry
    December 30, 2020
    Income Tax Department conducts searches in Delhi
    December 28, 2020
    Income Tax Department conducts searches in Guwahati
    December 26, 2020
    Rajasthan becomes 6th State to complete ease of doing business reforms ; Additional borrowing permission of ₹ 2,731 crore issued
    December 23, 2020
    Andhra Pradesh and Madhya Pradesh take the lead in undertaking Urban Local Bodies reforms
    December 23, 2020
    World Bank Signs $500 Million Project to Develop Green, Resilient and Safe Highways in India
    December 21, 2020
    Reform linked borrowing permissions are facilitating Ease of Doing Business reforms
    December 19, 2020
    ADB, India sign $300 million loan to upgrade power distribution network in Uttar Pradesh
    December 18, 2020
    ADB, India sign facility to support preparation of infrastructure projects in Tripura
    December 17, 2020
    Income Tax Department conducts searches in Tamil Nadu
    December 16, 2020
    Income Tax Department conducts searches in Chandigarh
    December 16, 2020
    Government of India and NDB sign agreement for $1,000 million to provide support to Aatma Nirbhar Bharat Abhiyan through MGNREG Scheme to support Indi...
    December 16, 2020
    Deadline for States to implement citizen centric reforms extended till 15th February 2021
    December 15, 2020
    Income Tax Department conducts searches in Pune Region
    December 14, 2020
    Finance Minister Smt. Nirmala Sitharaman reviews implementation of Aatma Nirbhar Bharat Package with Secretaries of all Ministries/Departments concern...
    December 12, 2020
    27 States avail benefits of the “Scheme for Special Assistance to States for Capital Expenditure”
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    News
    All› Income Tax › Income Tax - 2020
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    December 31, 2020
    Tariff Notification No. 117/2020-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver
    Show AI Summary
    Fixation of tariff value: revised customs tariff values set for edible oils, metals and select agricultural imports under notification amendment.
    The Central Board of Indirect Taxes & Customs, under section 14(2) of the Customs Act, substitutes revised TABLE-1, TABLE-2 and TABLE-3 into Notification No. 36/2001-Customs (N.T.), fixing tariff values in US dollars for specified imports including edible oils, brass scrap, poppy seeds, areca nut, and defined forms of gold and silver, and delineating certain exclusions by form and import mode.
    December 31, 2020
    Quarterly report on Public Debt Management of quarter July to September, 2020
    Show AI Summary
    Public debt management: quarterly issuance, maturity and liquidity operations shaped government debt profile and market yields.
    Quarterly review for July-September 2020 reports central government dated securities issuances during Q2 FY21, a slight softening in the weighted average yield of primary issuances, and a modest change in the weighted average maturity of new issuances. No Cash Management Bills were raised. The Reserve Bank conducted five special OMOs and there was net average liquidity absorption under LAF including Marginal Standing and Special Liquidity Facilities. Provisional data show an increase in total liabilities with public debt accounting for the majority, a material share of securities with residual maturity below five years, and concentrated ownership in banks and insurance companies.
    December 31, 2020
    Odisha becomes the 7th State to complete ease of doing business reforms
    Show AI Summary
    Ease of Doing Business reform enables additional state borrowing after completing prescribed business environment reforms.
    Odisha qualified for additional open market borrowing after completing the Ease of Doing Business reform, joining six other States that met the Department of Expenditure's conditionality. The reform package requires completion of a District Level Business Reform Action Plan assessment, elimination of renewal requirements for business registrations and approvals, and adoption of a computerized central random inspection system with centrally allocated inspectors, prior notice, rotation of inspectors, and inspection reports uploaded within 48 hours. These measures are part of a May 2020 fiscal dispensation linking half of enhanced State borrowing headroom to citizen centric reforms.
    December 31, 2020
    Extension of time limits for income tax returns
    Show AI Summary
    Extension of income tax return deadlines provides staggered filing and audit-report postponements and adjusted compliance windows.
    Extensions of filing and compliance deadlines for AY 2020 21 moved Income Tax Return due dates and associated audit and reporting obligations through staged notifications: audited taxpayers and companies and those reporting international/specified domestic transactions were given mid February 2021 filing deadlines; other taxpayers received a January 2021 deadline; audit-report deadlines and Vivad Se Vishwas declaration and order timelines were likewise postponed; self assessment tax payment relief for smaller liabilities and an extension of the GST annual return due date were also provided.
    December 30, 2020
    Year End Review 2020 - Department of Commerce, Ministry of Commerce & Industry
    Show AI Summary
    Trade restrictions and technical regulations tightened to favour domestic industry; digital trade facilitation and export support expanded.
    Trade policy measures promoted domestic industry and secured supply chains via import restrictions where domestic capacity exists, mandated compliance with national standards, and advanced Technical Regulations and Quality Control Orders for priority product lines; concurrently, electronic trade facilitation, digitalised trade remedy procedures, expanded procurement via GeM, and enhanced export credit and insurance support were implemented to expedite exports and strengthen exporter resilience.
    December 30, 2020
    Income Tax Department conducts searches in Delhi
    Show AI Summary
    Search and seizure of hawala network exposes shell companies, bogus invoices and layering of unaccounted funds; probe continues.
    Search and seizure operation uncovered hawala operators using short lived shell entities to generate bogus purchase and sale bills, route and layer unaccounted funds through multiple bank accounts, and suppress sales through fabricated purchases; the action led to seizure of unaccounted cash and bullion and investigations continue to trace beneficiaries and transactional links.
    December 28, 2020
    Income Tax Department conducts searches in Guwahati
    Show AI Summary
    Accommodation entries used to conceal business receipts uncovered; searches reveal bogus shell transactions and ongoing probe.
    Coordinated search and survey operations targeted three contracting groups for alleged accommodation entries via non genuine unsecured loans and inflated securities premium from paper shell companies, with entry operators admitting bogus transactions. Searches uncovered cash trails, seizures of cash and jewellery, substantial detected undisclosed income, and ongoing investigation to determine sources, asset holdings, and the quantum of tax evasion.
    December 26, 2020
    Rajasthan becomes 6th State to complete ease of doing business reforms ; Additional borrowing permission of ₹ 2,731 crore issued
    Show AI Summary
    Ease of Doing Business reforms enable Rajasthan to access additional Open Market borrowing permissions under the linked central borrowing framework.
    Rajasthan has completed the prescribed Ease of Doing Business reforms and qualified to mobilise additional resources through Open Market Borrowings; the reforms required are completion of the first assessment of the District Level Business Reform Action Plan, elimination of renewal requirements for business registrations/approvals/licences, and implementation of a computerized central random inspection system with specified procedural safeguards and report upload timelines.
    December 23, 2020
    Andhra Pradesh and Madhya Pradesh take the lead in undertaking Urban Local Bodies reforms
    Show AI Summary
    Reform-linked additional borrowing: States gain market borrowing permission after completing urban local body financial reforms.
    Reform-linked additional borrowing permission was granted to two States upon completion of Urban Local Body reforms requiring notification of floor rates for property tax aligned with prevailing circle rates and floor user charges for water, drainage and sewerage reflecting current costs and past inflation, together with a system for periodic increases in those rates in line with price increases.
    December 23, 2020
    World Bank Signs $500 Million Project to Develop Green, Resilient and Safe Highways in India
    Show AI Summary
    Green infrastructure for highways integrates climate resilience and road safety with institutional capacity building and gender inclusion.
    The instrument finances construction and upgrading of highway corridors while integrating green infrastructure and road safety technologies, mandating GHG reduction measures, and supporting institutional capacity building for mainstreaming climate resilience, disaster risk assessment, freight analytics and gender responsive employment initiatives for implementation across multiple states.
    December 21, 2020
    Reform linked borrowing permissions are facilitating Ease of Doing Business reforms
    Show AI Summary
    Reform-linked borrowing permissions incentivise states to adopt Ease of Doing Business and citizen-centric reforms to access additional borrowing.
    The Government conditioned half of the May 2020 enhancement to States' borrowing limits on completing citizen centric reforms, including reform linked borrowing permissions for Ease of Doing Business. EoDB requirements include district level reform assessments, removal of renewal requirements for specified registrations/approvals/licenses, and a computerized central random inspection system with inspector rotation, prior notice and prompt uploading of inspection reports. Five States have completed these EoDB reforms and been granted additional open market borrowing permission; States completing three reform categories may also access capital assistance under a dedicated scheme.
    December 19, 2020
    ADB, India sign $300 million loan to upgrade power distribution network in Uttar Pradesh
    Show AI Summary
    Power distribution upgrade financing supports feeder separation and conductor conversion to improve rural electricity reliability and bill collection.
    A loan under a multi-tranche financing facility will finance rural distribution network upgrades in Uttar Pradesh, including conversion of low-voltage bare conductors to aerial bundle conductors and establishment of separate feeders for agricultural and residential supply to improve reliability, reduce technical and commercial losses, and enable solar use for agriculture, alongside measures to strengthen the distribution utility's financial management and pilot community bill collection through women's self-help groups.
    December 18, 2020
    ADB, India sign facility to support preparation of infrastructure projects in Tripura
    Show AI Summary
    Project readiness financing to prepare climate resilient urban and tourism infrastructure in Tripura, enabling feasibility studies and capacity building.
    A Project Readiness Financing facility between the Asian Development Bank and the Government of India will fund feasibility studies, detailed engineering designs, and capacity building to prepare climate resilient, inclusive, and sustainable urban and tourism infrastructure projects in Tripura, addressing institutional capacity gaps of urban local bodies.
    December 17, 2020
    Income Tax Department conducts searches in Tamil Nadu
    Show AI Summary
    Unaccounted income exposure after tax searches results in substantial cash seizures and ongoing criminal and tax investigations.
    Searches across multiple premises of a civil contracting group disclosed a scheme of inflating purchases and contract expenses with excess payments returned in cash, producing approximately Rs. 700 crore of unaccounted income, of which the assessee admitted about Rs. 150 crore; a cash seizure of about Rs. 21 crore was effected and further investigations are ongoing.
    December 16, 2020
    Income Tax Department conducts searches in Chandigarh
    Show AI Summary
    Benami property linked to listed pharmaceutical company reveals conduit purchases and undeclared cash transactions and seizure activity.
    Authorities conducted searches targeting an alleged benami purchase of 117 acres through a conduit company lacking real business activity; statements from nominal directors and buyers and a hawala operator implicate the listed company's Managing Director in funding and negotiating the sale, with an agreement to sell and cash receipt recovered. Investigations also allege a wrongful interest deduction by mischaracterising self-occupied property, and probe benami shareholdings and bogus purchases; cash, jewellery and several lockers have been seized or restrained.
    December 16, 2020
    Government of India and NDB sign agreement for $1,000 million to provide support to Aatma Nirbhar Bharat Abhiyan through MGNREG Scheme to support India’s economic recovery from COVID-19
    Show AI Summary
    Development bank loan supports rural recovery via natural resource management and employment generation under MGNREGS.
    An international loan agreement finances rural recovery through MGNREGS by supporting natural resource management works to create durable rural infrastructure and by generating employment to preserve rural incomes and stimulate demand, with particular emphasis on supporting rural poor and returned migrant workers affected by COVID 19; the financing is provided by a multilateral development bank on long term terms with an initial grace period and is enabled by the bank's emergency response policy.
    December 16, 2020
    Deadline for States to implement citizen centric reforms extended till 15th February 2021
    Show AI Summary
    Reform-linked borrowing extended: deadline moved to allow states to claim additional borrowing and capital assistance upon reform completion.
    Extension of the deadline permits States more time to implement four specified citizen-centric reforms and secure linked fiscal incentives: eligibility for Reform-Linked Borrowing-additional borrowing capacity tied to each completed reform-and access to capped Capital Expenditure Assistance for States completing at least three reforms, with specified aggregate funding envelopes and reported interim uptake and borrowings.
    December 15, 2020
    Income Tax Department conducts searches in Pune Region
    Show AI Summary
    Search and seizure of suspected tax evasion: unaccounted income and accommodation entries uncovered, further probe ongoing.
    Income tax authorities conducted search and survey operations in the Panvel-Vashi region targeting real estate developers and entry operators, uncovering routing of on money into the books as accommodation entries through shell companies, fabricated subcontract and other out of books expenses, undisclosed interest concealed as advances against land, and seizure of unexplained cash; digital and documentary data analysis and further investigations are ongoing.
    December 14, 2020
    Finance Minister Smt. Nirmala Sitharaman reviews implementation of Aatma Nirbhar Bharat Package with Secretaries of all Ministries/Departments concerned
    Show AI Summary
    Implementation review of economic relief package highlights credit, liquidity and sectoral support measures to revive activity and safeguard jobs.
    The review of Aatma Nirbhar Bharat Packages details multi sectoral fiscal and regulatory measures providing credit and liquidity support-notably emergency and partial credit guarantee schemes, concessional agricultural credit, state capital expenditure loans, equity and subordinate debt for MSMEs, and infrastructure debt financing-alongside targeted programs for agriculture, housing and coal sector reforms. Implementation progress is tracked by sanctions, disbursements, guideline issuances, operationalisation of funds and MoUs with banks, with timeline extensions and expanded eligibility to accelerate recovery and safeguard jobs.
    December 12, 2020
    27 States avail benefits of the “Scheme for Special Assistance to States for Capital Expenditure”
    Show AI Summary
    Special assistance for state capital expenditure provides targeted allocations and reform-linked funds; first instalments released to participating states.
    The Scheme for Special Assistance to States for Capital Expenditure comprises three parts: a fixed allocation for north-eastern States (with higher allocation for Assam), a proportional allocation to other States based on interim 15th Finance Commission tax shares, and a reform-linked tranche available only to States implementing at least three of four specified citizen-centric reforms. The scheme aims to boost state capital spending across sectors including health, water, irrigation, power and transport; 27 States' projects totalling Rs. 9,879.61 crore have been approved and the first instalment totalling Rs. 4,939.81 crore released.

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      Income Tax

      Finance Minister Smt. Nirmala Sitharaman reviews implementation of Aatma Nirbhar Bharat Package with Secretaries of all Ministries/Departments concerned

      December 14, 2020

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      On 12th May 2020, Hon’ble Prime Minister Shri Narendra Modi announced a special comprehensive economic package to fight the COVID-19 pandemic in India. He gave a clarion call for Aatma Nirbhar Bharat Abhiyanor a Self-Reliant India Movement. The Prime Minister also outlined five pillars of Aatma Nirbhar Bharat – Economy, Infrastructure, System, Vibrant Demography and Demand.

      Following the call of the Hon'ble Prime Minister, Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharamanpresented the details of the Aatma Nirbhar Bharat Package 1.0 in a series of press conferences from 13th May 2020 to 17th May 2020. Subsequently, the Finance Minister announced Aatma Nirbhar Bharat Package 2.0 on 12th October and Aatma Nirbhar Bharat Package 3.0 on 12th November 2020.

      The Ministries and Departments concerned immediately started implementing the announcements under the 3 Aatma Nirbhar Bharat Packages (ANBP). The progress of implementation is being reviewed and monitored regularly, almost on a daily basis.

      The Finance Minister Smt. Sitharamanon Friday concluded a comprehensive review of ANBP with the Secretaries of various Ministries/Departments concerned over three days. Key elements of the progress made so far in implementing the ongoing Schemes of the AatmaNirbhar Bharat Packages are as under:

      1. ₹ 3 lakh crore Collateral-free Automatic Loans for Businesses, including MSMEs:

      Under an Emergency Credit Line Guarantee Scheme (ECLGS), as on 04.12.2020, as reported by Public Sector Banks, top 23 Private Sector Banks and 31 NBFCs, additional credit amounting to ₹ 2,05,563 crore has been sanctioned to 80,93,491 borrowers, while an amount of ₹ 1,58,626 crore has been disbursed to 40,49,489 borrowers.

      http://static.pib.gov.in/WriteReadData/userfiles/image/image0019XV4.jpg

      The Scheme was further amended on 26.11.2020 and the duration of the Scheme has been extended till 31.03.2021; also, the turnover limit prescribed therein has been removed. Operational guidelines of ECLGS 2.0 were issued on 26.11.2020.

      It is expected that 45 lakh units can resume business activity and safeguard jobs through this scheme.

      1. ₹ 45,000 crore Partial Credit Guarantee Scheme 2.0 for NBFCs:

      As on 04.12.2020, Public Sector Banks (PSBs) have approved purchase of portfolio of ₹ 27,794 crore and are currently in process of approval/negotiations for ₹ 1,400 crore. The timeline for purchase of bonds or Commercial Papers (CPs) has been further extended till 31.12.2020.

      1. ₹ 30,000 crore Additional Emergency Working Capital Funding for farmers through NABARD:

      As on 04.12.2020, ₹ 25,000 crore has been disbursed out of this special facility. Balance amount of ₹ 5,000 crore under Special Liquidity Facility (SLF) allocated to NABARD by RBI for smaller Non-Banking Financial Companies (NBFCs) and Non-Banking Financial Companies-Micro Finance Institutions (NBFCs-MFIs).

      Besides, NABARD had issued the guidelines on 6.10.2020 to roll out disbursement out of SLF for smaller NBFCs and NBFC-MFIs.

      Further, proposals amounting to ₹ 690 crore has been sanctioned to 6 NBFCs-MFIs out of the balance amount of ₹ 5,000 crore. Disbursement of ₹ 130 crore has been done till 04.12.2020.

      1. ₹ 2 lakh crore Concessional credit boost to 2.5 crore farmers through Kisan Credit Cards:

      Special drive undertaken by the Department of Financial Services under Ministry of Finance to provide concessional credit to PM-KISAN beneficiaries through Kisan Credit Cards.

      In Phase I, 58.83 lakh KCC cards with KCC limit of ₹ 46,532 crore had been sanctioned.

      http://static.pib.gov.in/WriteReadData/userfiles/image/image0020GZ4.jpg

      In Phase II, (As on 04.12.2020), a total number of 110.94 lakh KCC with KCC limit of ₹ 1,07,417 crore has been sanctioned.

      http://static.pib.gov.in/WriteReadData/userfiles/image/image003LRIE.jpg

      Out of this 110.94 lakh KCC sanctioned in Phase II, 92.40 lakh has been done for crop loan, 2.73 lakh for crop loan with AH or fisheries activities, 4.75 lakh for dairy, 46,786 for poultry, cattle & sheep rearing, etc, 15,037 for fisheries and 10.44 lakh cases already having KCC sanctioned by bank.

      1. Demand booster for Residential Real Estate Income Tax relief for Developers & Home Buyers

      In order to boost demand in the real-estate sector and to enable the real-estate developers to liquidate their unsold inventory at a rate substantially lower than the circle rate and giving benefit to the home buyers, it has been decided to further increase the safe harbour from 10% to 20% under section 43CA of the Act for the period from 12thNovember, 2020 to 30thJune, 2021 in respect of only primary sale of residential units of value up to ₹ 2 crore.

      Consequent to the announcement, Central Board for Direct Taxes (CBDT) has issued a press note on 13.11.2020, giving effect to the same announcement.

      1. Income Tax Refunds

      Central Board of Direct Taxes (CBDT) has issued refunds of over ₹ 1,45,619 crore to more than 89.29 lakh taxpayers between 1st April 2020 and 8th December 2020. Income Tax refunds of ₹ 43,274 crore have been issued in 87,29,626 cases & corporate tax refunds of ₹ 1,02,345 crore have been issued in 1,99,554 cases.

      1. Capital Expenditure: Special Assistance for States:

      Under AatmaNirbhar Bharat Package, it was announced that Special interest free 50-year loans will be given to States for capital expenditure for ₹ 12,000 crore.

      As on 07.12.2020, so far, 27 State Governments have submitted proposals under the Scheme for new and ongoing capital works/projects.

      Projects amounting to ₹ 8455.61 crore under Part-I and Part-II of the Scheme have been approved so far and an amount of ₹ 4227.80 crore, as 1stinstallment, has been released to the States.

      1. ₹ 18,000 crore additional outlay for Pradhan MantriAwaasYojana - Urban (PMAY-U):

      A number of measures have been taken in the past several months for revival of the Housing and Real Estate Sector. These measures have contributed to fair recovery in this sector.  For instance, Special Window for Affordable and Mid Income Housing (SWAMIH) - 135 projects approved with an outlay of ₹ 13,200 crore. This will result in completion of 87,000 houses/Flats. ₹ 18,000 crore will be provided over the Budget Estimates for 2020-21 for (PMAY-U) through additional allocation and Extra Budgetary Resources. This is over and above ₹ 8,000 crore allocated already this year.

      1. ₹ 1.10 lakh crore Platform for Infra Debt Financing  - ₹ 6,000 crore Equity infusion in NIIF Debt Platform

      The Government has approved an equity infusion of ₹ 6,000 crore in National Investment and Infrastructure Fund (NIIF) Debt Platform, comprising of Aseem Infrastructure Finance Limited and NIIF Infrastructure Finance Limited in its meeting held on 25.11.2020.

      1. ₹ 20,000 crore Subordinate Debt for Stressed MSMEs

      Scheme was finalised and launched on 24th June, 2020. The State Bank of India has identified 8,502 accounts and the disbursement process is in progress.

      1. ₹ 50,000 crore Equity infusion for MSMEs through Fund of Funds

      The Ministry of MSME had approved and issued the Guidelines on Self-reliant India (SRI) Fund on 5th August, 2020. The NSIC Venture Capital Fund Ltd., the subsidiary company of National Small Industry Corporation Ltd. (NSIC) has been incorporated under Companies Act 2013. This Special Purpose Vehicle (SPV) will anchor the Mother Fund.

      Following due process, SBI Cap Ventures Ltd. has been selected as Fund Manager/Asset Management Committee.

      SBI Cap has already started working towards preparation of Private Placement Memorandum (PPM).  The Ministry of MSME is taking further steps for operationalisation of the fund.

      1. Government's persistent efforts for payment to MSMEs

      With the concerted efforts by the Ministry of MSME since May 2020, over ₹ 21,000 crore of MSME dues have been paid in past 7 Months since May 2020 by the Central Government Agencies and Central Public Sector Enterprises (CPSEs). The highest level of Procurement was achieved in October of over ₹ 5,100 crore and payment of over ₹ 4,100 crore. Going by the reports received in first 10 days for November 2020, this level of performance is expected to be surpassed as Procurement of about ₹ 4,700 crore and payment of about ₹ 4,000 crore have already been reported.

      1. ₹ 1 lakh crore Agri Infrastructure Fund for farm-gate infrastructure for farmers

      The Agri Infrastructure Fund was approved by the Union Cabinet on 08.07.2020. The scheme was formally launched by Hon’ble Prime Minister Shri Narendra Modi on  09.08.2020.

      Within 30 days after the Cabinet formally approved the scheme, the first sanction of ₹ 1,128 crore was made to over 2,280 farmer societies. Memorandums of Understanding (MOU) with all 12 Public Sector Banks, 9 Private Sector Banks and 33 Cooperative Banks have been signed by Department of Agriculture Cooperation & Farmers Welfare (DAC&FW).

      1. Animal Husbandry Infrastructure Development Fund (AHIDF) - ₹ 15,000 crore

      The AHIDF Scheme was approved by Cabinet on 24.06.2020. Memorandum of Understanding (MoU) with Small Industries Development Bank of India (SIDBI) was signed on 27.07.2020 for development of online Portal.

      As on 9th December 2020, a total 313 applications have been received and the same are under process.

      1. ₹ 20,000 crore for Fishermen through Pradhan MantriMatsyaSampadaYojana (PMMSY)

      The Government approved PMMSY in May, 2020 with a total investment of ₹ 20,250 crore. Operational Guidelines of PMMSY issued to States/UTs on 24th June, 2020 along with 5 year fish production targets, first 2 years indicative financial allocations

      There has been an overwhelming response from the State/UTs as Shelf of Projects received of ₹ 6,445 crore from 32 States/UTs.

      As on 9th December 2020, the Department of Fisheries sanctioned projects worth of ₹ 2,182 crore.  Another ₹ 322 crore for 2 states and Phase-2 proposals of 7 states/UTs are under process.

      1. ₹ 70,000 crore boost to housing sector and middle income group through extension of Credit Linked Subsidy Scheme (CLSS)

      The Government has extended the CLSS for MIG (Annual income: ₹ 6 – 18 lakh) up to 31st March 2021. Order for extension was issued on 5th May, 2020.

      As on 8th December, 2020, 1,04,354 new MIG beneficiaries have been released subsidy under the Scheme during 2020-21, taking the aggregate number to 4.29 Lakh.

      1. Boost for Employment  AatmaNirbhar Bharat RozgarYojana

      The Cabinet has approved the proposal on 09.12.2020.  Modalities/guidelines to implement the scheme are being framed.

      1. ₹ 40,000 crore increase in allocation for MGNREGS to provide employment boost

      As on 10th December 2020, ₹ 40,000 crore has been received under 1st supplementary Demand for Grants 20-21. A total of 273.84 crore Person days have been generated as of date which is 49% higher than last year.

      1. ₹ 90,000 crore Liquidity Injection for DISCOMs

      As on 10th December 2020, against the liquidity infusion package, ₹ 118,273 crore worth of loans have been sanctioned and ₹ 31,136 crore has already been disbursed/ released. Another release of ₹ 30,000 crore to various states is under process.

      1. Introduction of Commercial Mining in Coal Sector

      Import Substitution: An Inter-Ministerial Committee (IMC) constituted for monthly review and decisions/facilitation. Import Monitoring Portal is currently being developed. As on 10th December 2020, thermal coal imports in FY21 (upto 31.10.2020) down by 33% for power sector, overall by 27%.

      1. Liberalised Regime in Coal Sector

      Ministry of Coal/ Coal India Ltd. is drawing up a large evacuation plan for enhanced CIL’s target of 1 billion tons coal production by 2023-24 plus coal production from private blocks.

      As on 10th December 2020, 7 New Rail lines are under implementation with an investment of  ₹ 13,775 crore.  In First Mile Connectivity Phase-I, 35 projects for mechanised transfer of 404 MTPA coal with a cost of ₹ 12,505/- crore under implementation. Tenders for all 35 projects have been issued. 2 projects have been commissioned. All projects completion by 2023-24.

      Coal Bed Methane (CBM) extraction rights auction: 3 projects are planned in CIL command area on BOO basis. NIT for 2 has been issued. Bids will be submitted by 28.12.2020.  Feasibility report of one (Sohagpur) project is approved by SECL Board.

      Action completed on Mining Plan Guidelines revised on 29th May 2020. Mining Plan Approval process has been simplified and portal for online approval is being developed.

      As on 10th December 2020, concessions in commercial terms of ₹ 6663.78 crore already extended by CIL till 02.12.2020.

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