Just a moment...

⚠✕
❮ Top
☎ Help
☰
×

By creating an account you can:

Logo TaxTMI
>
Keyword Search :
AI Tools : New
Ask tax questions in natural language. Powered by AI trained on the TaxTMI legal database. Use AI Tools ➞
Call Us / Help / Feedback✕

Contact Us At :

✉ E-mail: [email protected]

✆ Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
╳
Add to...
You have not created any category. Kindly create one to bookmark this item!
✕
Create New Category
Hide
Title :
Description :
❮❮ Hide
❮ Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search ❯
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text ❯
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ---- ❯
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----❯
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----❯
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
RelevanceDefaultDate
    August 3, 2026
    ACE Software Posts Earnings Turnaround; Standalone Profit Before Tax Up 43% YoY
    August 3, 2026
    Rajya Sabha passes bill to tackle payment delays faced by MSMEs amid Opposition protests
    August 3, 2026
    MPC's 3-day meeting begins amid expectations of status quo on interest rates
    August 3, 2026
    Trane Technologies Reports Strong Second Quarter Results; Raises Full-Year Revenue and EPS Guidance
    August 3, 2026
    CBN dismantles inter-state counterfeit drug network in Bihar under Operation Vajra; mastermind arrested
    August 3, 2026
    DRI seizes quantities of gold; drugs, e-cigarettes and other contraband in pan-India Ops; 20 persons, including 5 foreign nationals, arrested
    August 3, 2026
    Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment to accelerate their capital and deve...
    August 3, 2026
    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
    August 3, 2026
    Rupee rises 31 paise to 95.12 against US dollar in early trade
    August 2, 2026
    Customs seizes 8 kg gold worth over Rs 11 cr at Kerala airports in one week
    August 2, 2026
    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
    August 1, 2026
    Punjab GST revenue rises 20 pc to Rs 10,447 crore in April-July: Cheema
    August 1, 2026
    India-China trade through Shipli La resumes after six years
    August 1, 2026
    Odisha's export can reach USD 50 billion by FY 2029-30: Study
    August 1, 2026
    Andhra records 21 per cent growth in net GST collections till July
    August 1, 2026
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
    August 1, 2026
    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
    August 1, 2026
    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
    August 1, 2026
    Gross and Net GST revenue collections for the month of July, 2026
    August 1, 2026
    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
❮
❯
❯❯
MaximizeMaximizeMaximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

    +

    Are you sure you want to delete "My most important" ?

    NOTE:

    Open Link
    News
    Showing Results for :
    Reset Filters
    Results Found:
    Show All SummariesHide All Summaries
    August 3, 2026
    ACE Software Posts Earnings Turnaround; Standalone Profit Before Tax Up 43% YoY
    Show AI Summary
    Quarterly financial performance reflects revenue growth, improved standalone profitability, and continued investment in AI-led digital technology platforms.
    Quarterly financial performance reported revenue growth in standalone and consolidated operations, higher standalone profit before tax, and a return to consolidated profitability. The company continues to invest in an AI-led, intellectual-property-driven digital technology strategy through enterprise software, SaaS platforms, digital commerce, cloud, data and AI solutions. Its priorities include scalable platforms, proprietary technology assets, recurring-revenue offerings, partnerships and selective acquisitions. Complete financial results, notes to accounts and regulatory disclosures are available through exchange filings and the company website.
    August 3, 2026
    Rajya Sabha passes bill to tackle payment delays faced by MSMEs amid Opposition protests
    Show AI Summary
    MSME delayed-payment reforms strengthen award recovery, faster dispute adjudication, invoice discounting, and interim supplier payment protection.
    MSME delayed-payment reforms seek faster adjudication, strengthened recovery and improved liquidity for enterprise suppliers. Courts may direct payment of at least half of an awarded amount where a setting-aside application remains pending beyond six months. Mediated settlements and arbitral awards may be recovered as arrears of land revenue and recognised as legally enforceable debts under the insolvency framework. The measures also provide graded penalties, voluntary digital registration, invoice settlement through the Trade Receivables Discounting System, and additional Facilitation Councils.
    August 3, 2026
    MPC's 3-day meeting begins amid expectations of status quo on interest rates
    Show AI Summary
    Monetary policy rate setting remains cautious as inflation, liquidity, growth and global uncertainty shape the policy stance.
    Monetary policy rate setting is expected to remain cautious amid global uncertainty, rising inflation risks and steady domestic growth. The inflation outlook is affected by energy-price pass-through, higher input costs, and seasonal and monsoon-related food-price pressures. Policy decisions are expected to remain data-dependent, guided primarily by domestic inflation, liquidity conditions and economic growth. A cautious or neutral stance is identified as preferable while external risks and inflation developments persist.
    August 3, 2026
    Trane Technologies Reports Strong Second Quarter Results; Raises Full-Year Revenue and EPS Guidance
    Show AI Summary
    Forward-looking financial disclosure raises revenue and earnings guidance while describing non-GAAP measures, capital allocation, and material business risks.
    Financial performance reporting identifies increased bookings, revenue growth, continuing earnings, and backlog, with segment-level operating and margin measures. The release addresses cash flow, capital allocation through dividends, acquisitions and share repurchases, and increased full-year revenue and earnings guidance. Forward-looking statements concerning financial performance, operations, demand, liquidity and capital deployment are subject to identified risks and uncertainties. Non-GAAP measures are presented as supplemental to GAAP measures, with definitions and reconciliations stated to be available in accompanying materials.
    August 3, 2026
    CBN dismantles inter-state counterfeit drug network in Bihar under Operation Vajra; mastermind arrested
    Show AI Summary
    Counterfeit drug enforcement targets illicit manufacture, storage and trafficking networks, with coordinated seizures and referral of non-narcotic stock.
    Counterfeit-drug enforcement under Operation Vajra addressed an inter-state network involved in the illicit manufacture, storage and distribution of narcotic drugs, psychotropic substances and spurious pharmaceutical products. Searches of unregistered godowns recovered narcotic products, unauthorisedly manufactured Buprenorphine injection ampoules, and counterfeit non-NDPS medicines. A farmhouse-based illicit manufacturing facility was dismantled, with machinery, chemicals and related materials seized under the NDPS Act, 1985.
    August 3, 2026
    DRI seizes quantities of gold; drugs, e-cigarettes and other contraband in pan-India Ops; 20 persons, including 5 foreign nationals, arrested
    Show AI Summary
    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
    Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment to accelerate their capital and developmental expenditure
    Show AI Summary
    Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
    August 3, 2026
    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
    Show AI Summary
    Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
    Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
    August 3, 2026
    Rupee rises 31 paise to 95.12 against US dollar in early trade
    Show AI Summary
    Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
    August 2, 2026
    Customs seizes 8 kg gold worth over Rs 11 cr at Kerala airports in one week
    Show AI Summary
    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
    Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
    August 2, 2026
    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
    Show AI Summary
    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
    Punjab GST revenue rises 20 pc to Rs 10,447 crore in April-July: Cheema
    Show AI Summary
    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
    Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
    August 1, 2026
    India-China trade through Shipli La resumes after six years
    Show AI Summary
    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
    August 1, 2026
    Odisha's export can reach USD 50 billion by FY 2029-30: Study
    Show AI Summary
    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
    Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
    August 1, 2026
    Andhra records 21 per cent growth in net GST collections till July
    Show AI Summary
    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    August 1, 2026
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
    Show AI Summary
    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
    Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
    August 1, 2026
    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
    Show AI Summary
    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    August 1, 2026
    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
    Show AI Summary
    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
    August 1, 2026
    Gross and Net GST revenue collections for the month of July, 2026
    Show AI Summary
    GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
    GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
    August 1, 2026
    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
    Show AI Summary
    Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
    Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.

    News

    Back

    All News

    Showing Results for :
    Reset Filters
      No Records Found

      News

      Home› news › Income Tax › 2020 › December, 2020 › This
      Back

      All News

      whatsappJoin Channel
      Showing Results for : Reset Filters
      Income Tax

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

      December 14, 2020

      Contents
      Summary
      Note

      Note

      -

      Bookmark

      Print

      Print

      Print Options

      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.

      Topics

      ActsIncome Tax
      Next ➔