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Within few hours of release, R Naaz’s latest track Cappuccino  released exclusively by Times music received more than 4 million+ views in 2 days.The song Cappuccino is refreshing to hear with a young and peppy feel to it, and takes you back in time to that first feeling of having butterflies in your stomach for someone you love. The song is composed by Sourav Roy, written by Kumar and is beautifully sung by R Naaz. Naaz is a renowned singer who is known for her beautiful melodies. Its just amazing how her voice fits like a missing puzzle piece to uplift this contemporary track.

Released by Times Music, the music video of the song features young TV actors Abhishek Verma and Niti Taylor. Niti is better known for her role in MTV’s Kaisi hai Yaariyan while Abhishek is currently a heartthrob in Star Plus daily soap Yeh Hai Mohabbatein where he plays the role of Aditya.

While talking to media at the launch party of the song the singer Naaz said: “ This song Cappuccino is very close to my heart as it focuses on teenagers. Since we all have been there and we all experience love in our college days so everyone who hears can relate with this track. This brings a whiff of fresh air since everyone is releasing only party tracks so Cappuccino stands out among the regular tracks. Am sure everyone would love the song.”

The party hosted at Toxic lounge in the capital to celebrate the song as attended by Delhi’s social and glamour fraternity and was graced by the likes of Padamshri Shahnaz Husain, Bollywood actor Mukesh Tyagi, Delhi DCP Alok Kumar with wife Nishi Singh, social activist Ratan Kaul, AAP leader Shahana Mookherjea, designers Sadan Pande, Sonia Jethley, Ashfaq Ahmed, Shivang Kapoor, models Avantika Nalwa, Anuradha Sharma, Amandeep, Lovepreet, Nikita Lall, Nidhi Chaddha, socialites Bandana Sodhi, Kavita Malhotra, Sunaina Bhinder,  and Madhavi Gupta amongst others.

 The party went on till late and guests were seen tapping their feet on live music performance by Naaz.

https://www.youtube.com/watch?v=MmPRLjS7lg0

The post Singer R Naaz’s latest song Cappuccino launched with fanfare appeared first on The Newsy.

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Lucknow: The well-known shopping and entertainment destination of the city, Phoenix United Mall has registered its name in India and Asia Book of records by making its Logo from 10000 professional cricket balls. The installation was inaugurated by chief guest Ms. ‎Sanyukta Bhatia , Mayor Lucknow Municipal Corporation.  The event was attended by many dignitaries and Lucknow residents. Mr. Sanjeev Sarin, Centre Director Phoenix United Mall welcomed all the guests.

Mr. Sanjeev Sarin, Centre Director Phoenix United Mall expressed his happiness on the occasion and said, “Cricket is a good sport for developing overall fitness, stamina and hand-eye coordination. We support sports and sportsmanship. To motivate young talent and to express our love towards cricket we are installing the structure made by maximum number of balls in the mall.”

Mr. Sarin further added, “We are proud that our name has been registered in India and Asia Book of records.”

Chief Guest Ms. Sanyukta Bhatia also expressed her happiness on the occasion and appreciated the efforts of Phoenix United Mall to keep the spirit of cricket soaring high.”

About the company

Phoenix Mills Ltd. is poised to carve a niche in the booming Indian real estate sector. Led by the dynamic Managing Director, Atul Ruia and a team of exceptionally talented professionals, the Phoenix group is set to take on the challenge of redefining lifestyle in Indian cities. From mega retail malls, entertainment complexes, commercial space to hospitality units, the group is determined to make its presence in the rest of India. At present, the group has malls in Mumbai, Bangalore, Chennai, Pune, Agra, Lucknow and Bareilly.

The post Phoenix United Mall registered its name in India and Asia Books of records appeared first on The Newsy.

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dani Vidya Mandir (AVM), Ahmedabad receives the ASSOCHAM Education Excellence Awards 2019 as the ‘Best Education Initiative (School Serving Social Cause)’.

The official communique says – ‘This award is in recognition for the excellence Adani Vidya Mandir strives in its operation and the immense contribution the institute is making in the field of education. It is organization like you that make the country and the society proud of.’

The award was conferred to Adani Vidya Mandir during EduMeet 2019 & Education Excellence Awards in Kolkata.

“The way we educate our children today shall inevitably decide the destiny of our nation tomorrow. Collectively, all of us owe immense responsibility in enabling our children, especially those from less-privileged background; to create a brighter, dignified and equitable future,” said Dr. Priti Adani, Chairperson, Adani Foundation.

Adani VidyaMandir, Ahmedabad (AVMA) is the first cost-free school in India to attain the NABET accreditation under the Quality Council of India (QCI). In addition, this is also the first school in India to include ‘Coding Sandpit’ as a part of its regular curriculum, in association with Cambridge University Press.

The school is equipped with smart laboratory, modern libraries, convenient transportation system, facilities for sports and extra-curricular activities, well maintained canteen, activity room etc. In addition, students from class 11th and 12th undergo a week-long industry exposure programme so that each of them can prepare well and take up their dream professions.

AVMA has now become a 100% process-driven school incorporating the best practices in India and abroad into the school system. These processes and their implementation are audited and validated by third parties.

AVMA was established in 2008 and affiliated with the Central Board of Secondary Education (CBSE). All the students belong to family with an average annual income below Rs. 1 Lakh.

Like the Ahmedabad campus, Adani Vidya Mandirs in Surguja (Chhattisgarh) and Bhadreshwar (Gujarat) are also cost-free schools building a brighter future of children from low income group families.

These schools have state-of-the-art infrastructure and appropriately qualified and trained teachers. Adani Vidya Mandirs have been preparing 2,100 young minds every year.

Adani Vidyalayas in Tirora (Maharashtra) and Kawai (Rajasthan), Adani DAV Public School in Dhamra (Odisha), Adani Public School in Mundra (Gujarat) and NavchetanVidyalaya in Hazira (Gujarat) provide subsidized quality education to 2,600 students annually.Adani Foundation also facilitates quality education for 100,000 children through 600 schools and balwadis across India.

The post Adani VidyaMandir gets ASSOCHAM Education Excellence Awards as ‘School Serving Social Cause’ appeared first on The Newsy.

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 New Delhi: INSD South Delhi celebrated  it’s One year Anniversary at 18 Sant Nagar, East of Kailash, New Delhi on Friday, July 12, 2019, from 2.30pm to 5.30pm. The Anniversary event was a get-together and a huge celebration where Charu Gupta, Director of INSD South Delhi was present to share the journey and future plans.

According to Charu Gupta, Director of INSD South Delhi, “INSD South Delhi brings world-class education through courses like fashion designing, textile designing, interior designing, and jewelry designing. We counsel our students, we conduct workshops, take them for industrial visits. We are providing 1-month duration, 6 months duration, 1year Diploma, 3 years Degree Courses. Students get exposure here with practical knowledge learn different technologies used to create designs. Future Plan of INSD is to grow and open new centers”.

She added. “Nowadays there’s more emphasis on hands-on experience and giving importance to the practical aspect, experimental learning opportunities. INSD opens many career options for those who want to chase their dreams. INSD gives freedom to pursue your imagination more than a college it is an environment and ecosystem that allow raw talent to brush itself up in the right way”.

Charu Gupta further added, “ I am working with this industry from many years and have varied but rich experience in space and decor creation.  I always wanted to teach and this is the reason I am part of INSD.

The design creates culture. Culture shapes values. Values determine the future.International School of Design South Delhi, was established with an idea to create a place where young creative minds will have the freedom to pursue their imagination.

The post International School of Design South Delhi celebrates It’s One year Anniversary appeared first on The Newsy.

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Bareilly,  Asia’s biggest cricket bat, 18ft*4ft, installed in Phoenix United Mall to support team India. It is the biggest engraved designer cricket bat with phoenix logo in the centre. Chief Guest Shri Santosh Kumar Gangwar; Minister of State (Independent Charge), Labor and Employment, Government of India and Member of Parliament, Bareilly unveiled the same. The event was attended by many dignitaries and Bareilly residents.

Mr. Sanjeev Sarin, Centre Director Phoenix United Mall expressed his happiness on the occasion and said, “Cricket is a good sport for developing overall fitness, stamina and hand-eye coordination. We support team India and fully sure that we will win. To motivate our Indian team and to express our love towards cricket we are installing Asia’s biggest cricket bat in the mall.

Chief Guest Shri Santosh Kumar Gangwar also expressed his happiness on the occasion and said we will surely win.

About the company

Phoenix Mills Ltd. is poised to carve a niche in the booming Indian real estate sector. Led by the dynamic Managing Director, Atul Ruia and a team of exceptionally talented professionals, the Phoenix group is set to take on the challenge of redefining lifestyle in Indian cities. From mega retail malls, entertainment complexes, commercial space to hospitality units, the group is determined to make its presence in the rest of India. At present, the group has malls in Mumbai, Bangalore, Chennai, Pune, Agra, Lucknow and Bareilly

The post Asia’s biggest cricket bat installed at Phoenix United Mall appeared first on The Newsy.

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The budget presented by our Hon. Finance Minister Smt Nirmala Sitaraman is not only a landmark budget considering the fact that there is something for everyone but is targeted towards the development of our country. With respect to real estate, we are happy that the government plans to invest Rs. 100 lac crore in the next five years along with the fast-paced infrastructure development. This should certainly help in reviving the real estate sector, which had been going through a dark phase for the past few years.

About  Amila Group – a business entity with a difference. An organisation that places personal integrity over commercial transactions. At Amila, we believe there is no greater satisfaction than achieving success through honest dealing and strict adherence to the view, that for you to gain those you deal with should gain as well.

The group’s businesses span over a number of industries; namely, a hospitality division working towards responsible luxury, a real estate business focused on delivering complete value by fulfilling all promises and expectations and a finishing lounge for the next generation of modern women. Creating lasting customer delight for the last five decades, Amila is here to make an indelible mark in these industries.

The post Quote on Union Budget 2019 Mr. Yashpal Agnihotri, CMD of Amila Group appeared first on The Newsy.

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The Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman made her maiden Budget Speech today and presented the Union Budget 2019-20 before the Parliament. The key highlights of Union Budget 2019 are as follows:

10-point Vision for the decade

  • Building Team India with Jan Bhagidari: Minimum Government Maximum Governance.
  • Achieving green Mother Earth and Blue Skies through a pollution-free India.
  • Making Digital India reach every sector of the economy.
  • Launching Gaganyan, Chandrayan, other Space and Satellite programmes.
  • Building physical and social infrastructure.
  • Water, water management, clean rivers.
  • Blue Economy.
  • Self-sufficiency and export of food-grains, pulses, oilseeds, fruits and vegetables.
  • Achieving a healthy society via Ayushman Bharat, well-nourished women & children, safety of citizens.
  • Emphasis on MSMEs, Start-ups, defence manufacturing, automobiles, electronics, fabs and batteries, and medical devices under Make in India.

Towards a 5 Trillion Dollar Economy

  • “People’s hearts filled with Aasha (Hope), Vishwas (Trust), Aakansha (Aspirations)”, says FM.
  • Indian economy to become a 3 trillion dollar economy in the current year.
  • Government aspires to make India a 5 trillion dollar economy.
  •  “India Inc. are India’s job-creators and nation’s wealth-creators”, says FM.
  • Need for investment in:
    • Infrastructure.
    • Digital economy.
    • Job creation in small and medium firms.
  • Initiatives to be proposed for kick-starting the virtuous cycle of investments.
  • Common man’s life changed through MUDRA loans for ease of doing business.
  • Measures related to MSMEs:
    • Pradhan Mantri Karam Yogi Maandhan Scheme
  • Pension benefits to about three crore retail traders & small shopkeepers with annual turnover less than Rs. 1.5 crore.
  • Enrolment to be kept simple, requiring only Aadhaar, bank account and a self-declaration.
    • Rs. 350 crore allocated for FY 2019-20 for 2% interest subvention (on fresh or incremental loans) to all GST-registered MSMEs, under the Interest Subvention Scheme for MSMEs.
    • Payment platform for MSMEs to be created to enable filing of bills and payment thereof, to eliminate delays in government payments.
  • India’s first indigenously developed payment ecosystem for transport, based on National Common Mobility Card (NCMC) standards, launched in March 2019.
  • Inter-operable transport card runs on RuPay card and would allow the holders to pay for bus travel, toll taxes, parking charges, retail shopping.
  • Massive push given to all forms of physical connectivity through:
    • Pradhan Mantri Gram Sadak Yojana.
    • Industrial Corridors, Dedicated Freight Corridors.
    • Bhartamala and Sagarmala projects, Jal Marg Vikas and UDAN Schemes.
  • State road networks to be developed in second phase of Bharatmala project.
  • Navigational capacity of Ganga to be enhanced via multi modal terminals at Sahibganj and Haldia and a navigational lock at Farakka by 2019-20, under Jal Marg Vikas Project.
  • Four times increase in next four years estimated in the cargo volume on Ganga, leading to cheaper freight and passenger movement and reducing the import bill.
  • Rs. 50 lakh crore investment needed in Railway Infrastructure during 2018-2030.
  • Public-Private-Partnership proposed for development and completion of tracks, rolling stock manufacturing and delivery of passenger freight services.
  • 657 kilometers of Metro Rail network has become operational across the country.
  • Policy interventions to be made for the development of Maintenance, Repair and Overhaul (MRO), to achieve self- reliance in aviation segment.
  • Regulatory roadmap for making India a hub for aircraft financing and leasing activities from Indian shores, to be laid by the Government.
  • Outlay of Rs. 10,000 crore for 3 years approved for Phase-II of FAME Scheme.
  •  Upfront incentive proposed on purchase and charging infrastructure, to encourage faster adoption of Electric Vehicles.
  • Only advanced-battery-operated and registered e-vehicles to be incentivized under FAME Scheme.
  • National Highway Programme to be restructured to ensure a National Highway Grid, using a financeable model.
  • Power at affordable rates to states ensured under ‘One Nation, One Grid’.
  • Blueprints to be made available for gas grids, water grids, i-ways, and regional airports.
  • High Level Empowered Committee (HLEC) recommendations to be implemented:
    • Retirement of old & inefficient plants.
    • Addressing low utilization of gas plant capacity due to paucity of Natural Gas.
  • Cross subsidy surcharges, undesirable duties on open access sales or captive generation for industrial and other bulk power consumers to be removed under Ujjwal DISCOM Assurance Yojana (UDAY).
  • Package of power sector tariff and structural reforms to be announced soon.
  • Reform measures to be taken up to promote rental housing.
  • Model Tenancy Law to be finalized and circulated to the states.
  • Joint development and concession mechanisms to be used for public infrastructure and affordable housing on land parcels held by the Central Government and CPSEs.
  • Measures to enhance the sources of capital for infrastructure financing:
    • Credit Guarantee Enhancement Corporation to be set up in 2019-2020.
    • Action plan to be put in place to deepen the market for long term bonds with focus on infrastructure.
    • Proposed transfer/sale of investments by FIIs/FPIs (in debt securities issued by IDF-NBFCs) to any domestic investor within the specified lock-in period.
  • Measures to deepen bond markets:
    • Stock exchanges to be enabled to allow AA rated bonds as collaterals.
    • User-friendliness of trading platforms for corporate bonds to be reviewed.
  • Social stock exchange:
    • Electronic fund raising platform under the regulatory ambit of SEBI.
    • Listing social enterprises and voluntary organizations.
    • To raise capital as equity, debt or as units like a mutual fund.
  • SEBI to consider raising the threshold for minimum public shareholding in the listed companies from 25% to 35%.
  • Know Your Customer (KYC) norms for Foreign Portfolio Investors to be made more investor friendly.
  • Government to supplement efforts by RBI to get retail investors to invest in government treasury bills and securities, with further institutional development using stock exchanges.
  • Measures to make India a more attractive FDI destination:
    • FDI in sectors like aviation, media (animation, AVGC) and insurance sectors can be opened further after multi-stakeholder examination.
    • Insurance Intermediaries to get 100% FDI.
    • Local sourcing norms to be eased for FDI in Single Brand Retail sector.
  • Government to organize an annual Global Investors Meet in India, using National Infrastructure Investment Fund (NIIF) as an anchor to get all three sets of global players (pension, insurance and sovereign wealth funds).
  • Statutory limit for FPI investment in a company is proposed to be increased from 24% to sectoral foreign investment limit. Option to be given to the concerned corporate to limit it to a lower threshold.
  •  FPIs to be permitted to subscribe to listed debt securities issued by ReITs and InvITs.
  • NRI-Portfolio Investment Scheme Route is proposed to be merged with the Foreign Portfolio Investment Route.
  • Cumulative resources garnered through new financial instruments like Infrastructure Investment Trusts (InvITs), Real Estate Investment Trusts (REITs) as well as models like Toll-Operate-Transfer (ToT) exceed Rs. 24,000 crore.
  • New Space India Limited (NSIL), a PSE, incorporated as a new commercial arm of Department of Space.
  • To tap the benefits of the Research & Development carried out by ISRO like commercialization of products like launch vehicles, transfer to technologies and marketing of space products.

Direct Taxes

  • Tax rate reduced to 25% for companies with annual turnover up to Rs. 400 crore
  • Surcharge increased on individuals having taxable income from Rs. 2 crore to Rs. 5 crore and Rs. 5 crore and above.
  • India’s Ease of Doing Business ranking under the category of ‘paying taxes’ jumped from 172 in 2017 to 121 in the 2019.
  • Direct tax revenue increased by over 78% in past 5 years to Rs. 11.37 lakh crore

Tax Simplification and Ease of living – making compliance easier by leveraging technology:

  • Interchangeability of PAN and Aadhaar
    • Those who don’t have PAN can file tax returns using Aadhaar.
    • Aadhaar can be used wherever PAN is required.
  • Pre-filling of Income-tax Returns for faster, more accurate tax returns
    • Pre-filled tax returns with details of several incomes and deductions to be made available.
    • Information to be collected from Banks, Stock exchanges, mutual funds etc.
  • Faceless e-assessment
    • Faceless e-assessment with no human interface to be launched.
    • To be carried out initially in cases requiring verification of certain specified transactions or discrepancies.

Affordable housing

  • Additional deduction up to Rs. 1.5 lakhs for interest paid on loans borrowed up to 31st March, 2020 for purchase of house valued up to Rs. 45 lakh.
    • Overall benefit of around Rs. 7 lakh over loan period of 15 years.

Boost to Electric Vehicles

  • Additional income tax deduction of Rs. 1.5 lakh on interest paid on electric vehicle loans.
  • Customs duty exempted on certain parts of electric vehicles.

Other Direct Tax measures

  • Simplification of tax laws to reduce genuine hardships of taxpayers:
    • Higher tax threshold for launching prosecution for non-filing of returns
    • Appropriate class of persons exempted from the anti-abuse provisions of Section 50CA and Section 56 of the Income Tax Act.

Relief for Start-ups

  • Capital gains exemptions from sale of residential house for investment in start-ups extended till FY21.
  • ‘Angel tax’ issue resolved- start-ups and investors filing requisite declarations and providing information in their returns not to be subjected to any kind of scrutiny in respect of valuations of share premiums.
  • Funds raised by start-ups to not require scrutiny from Income Tax Department
    • E-verification mechanism for establishing identity of the investor and source of funds.
  • Special administrative arrangements for pending assessments and grievance redressal
    • No inquiry in such cases by the Assessing Officer without obtaining approval of the supervisory officer.
  • No scrutiny of valuation of shares issued to Category-II Alternative Investment Funds.
  • Relaxation of conditions for carry forward and set off of losses.

NBFCs

  • Interest on certain bad or doubtful debts by deposit taking as well as systemically important non-deposit taking NBFCs to be taxed in the year in which interest is actually received.

International Financial Services Centre (IFSC)

  • Direct tax incentives proposed for an IFSC:
    • 100 % profit-linked deduction in any ten-year block within a fifteen-year period.
    • Exemption from dividend distribution tax  from  current and accumulated income to companies and mutual funds.
    • Exemptions on capital gain to Category-III Alternative Investment Funds (AIFs).
    • Exemption to interest payment on loan taken from non-residents.

Securities Transaction Tax (STT)

  • STT restricted only to the difference between settlement and strike price in case of exercise of options.

Indirect Taxes

Make In India

  • Basic Customs Duty increased on cashew kernels, PVC, tiles, auto parts, marble slabs, optical fibre cable, CCTV camera etc.
  • Exemptions from Custom Duty on certain electronic items now manufactured in India withdrawn.
  • End use based exemptions on palm stearin, fatty oils withdrawn.
  • Exemptions to various kinds of papers withdrawn.
  • 5% Basic Custom Duty imposed on imported books.
  • Customs duty reduced on certain raw materials such as:
    • Inputs for artificial kidney and disposable sterilised dialyser and fuels for nuclear power plants etc.
    • Capital goods required for manufacture of specified electronic goods.

Defence

  • Defence equipment not manufactured in India exempted from basic customs duty

Other Indirect Tax provisions

  • Export duty rationalised on raw and semi-finished leather
  • Increase in Special Additional Excise Duty and Road and Infrastructure Cess each by Rs. 1 per litre on petrol and diesel
  • Custom duty on gold and other precious metals increased
  • Legacy Dispute Resolution Scheme for quick closure of pending litigations in Central Excise and Service tax from pre-GST regime

Grameen Bharat / Rural India

  • Ujjwala Yojana and Saubhagya Yojana have transformed the lives of every rural family, dramatically improving ease of their living.
  • Electricity and clean cooking facility to all willing rural families by 2022.
  • Pradhan Mantri Awas Yojana – Gramin (PMAY-G) aims to achieve “Housing for All” by 2022:
    • Eligible beneficiaries to be provided 1.95 crore houses with amenities like toilets, electricity and LPG connections during its second phase (2019-20 to 2021-22).
  • Pradhan Mantri Matsya Sampada Yojana (PMMSY)
    • A robust fisheries management framework through PMMSY to be established by the Department of Fisheries.
    • To address critical gaps in the value chain including infrastructure, modernization, traceability, production, productivity, post-harvest management, and quality control.
  • Pradhan Mantri Gram Sadak Yojana (PMGSY)
    • Target of connecting the eligible and feasible habitations advanced from 2022 to 2019 with 97% of such habitations already being provided with all weather connectivity.
    • 30,000 kilometers of PMGSY roads have been built using Green Technology, Waste Plastic and Cold Mix Technology, thereby reducing carbon footprint.
    • 1,25,000 kilometers of road length to be upgraded over the next five years under PMGSY III with an estimated cost of Rs. 80,250 crore.
  • Scheme of Fund for Upgradation and Regeneration of Traditional Industries’ (SFURTI)
    • Common Facility Centres (CFCs) to be setup to facilitate cluster based development for making traditional industries more productive, profitable and capable for generating sustained employment opportunities.
    • 100 new clusters to be setup during 2019-20 with special focus on Bamboo, Honey and Khadi, enabling 50,000 artisans to join the economic value chain.
  • Scheme for Promotion of Innovation, Rural Industry and Entrepreneurship’ (ASPIRE) consolidated.
    • 80 Livelihood Business Incubators (LBIs) and 20 Technology Business Incubators (TBIs) to be setup in 2019-20.
    • 75,000 entrepreneurs to be skilled in agro-rural industry sectors.
  • Private entrepreneurships to be supported in driving value-addition to farmers’ produce from the field and for those from allied activities.
  • Dairying through cooperatives to be encouraged by creating infrastructure for cattle feed manufacturing, milk procurement, processing & marketing.
  • 10,000 new Farmer Producer Organizations to be formed, to ensure economies of scale for farmers.
  • Government to work with State Governments to allow farmers to benefit from e-NAM.
  • Zero Budget Farming in which few states’ farmers are already being trained to be replicated in other states.
  • India’s water security
    • New Jal Shakti Mantralaya to look at the management of our water resources and water supply in an integrated and holistic manner
    • Jal Jeevan Mission to achieve Har Ghar Jal (piped water supply) to all rural households by 2024
    • To focus on integrated demand and supply side management of water at the local level.
    • Convergence with other Central and State Government Schemes to achieve its objectives.
    • 1592 critical and over exploited Blocks spread across 256 District being identified for the Jal Shakti Abhiyan.
    • Compensatory Afforestation Fund Management and Planning Authority (CAMPA) fund can be used for this purpose.
  • Swachh Bharat Abhiyan
    • 9.6 crore toilets constructed since Oct 2, 2014.
    • More than 5.6 lakh villages have become Open Defecation Free (ODF).
    • Swachh Bharat Mission to be expanded to undertake sustainable solid waste management in every village.
  • Pradhan Mantri Gramin Digital Saksharta Abhiyan,
    • Over two crore rural Indians made digitally literate.
    • Internet connectivity in local bodies in every Panchayat under Bharat-Net to bridge rural-urban divide.
    • Universal Obligation Fund under a PPP arrangement to be utilized for speeding up Bharat-Net.

Shahree Bharat/Urban India

  • Pradhan Mantri Awas Yojana – Urban (PMAY-Urban)-
    • Over 81 lakh houses with an investment of about Rs. 4.83 lakh crore sanctioned of which construction started in about 47 lakh houses.
    • Over 26 lakh houses completed of which nearly 24 lakh houses delivered to the beneficiaries.
    • Over 13 lakh houses so far constructed using new technologies.
  • More than 95% of cities also declared Open Defecation Free (ODF).
  • Almost 1 crore citizens have downloaded Swachhata App.
  • Target of achieving Gandhiji’s resolve of Swachh Bharat to make India ODF by 2nd October 2019.
    • To mark this occasion, the Rashtriya Swachhta Kendra to be inaugurated at Gandhi Darshan, Rajghat on 2nd October, 2019.
    • Gandhipedia being developed by National Council for Science Museums to sensitize youth and society about positive Gandhian values.
  • Railways to be encouraged to invest more in suburban railways through SPV structures like Rapid Regional Transport System (RRTS) proposed on the Delhi-Meerut route.
  • Proposal to enhance the metro-railway initiatives by:
    • Encouraging more PPP initiatives.
    • Ensuring completion of sanctioned works.
    • Supporting transit oriented development (TOD) to ensure commercial activity around transit hubs.

Youth

  • New National Education Policy to be brought which proposes
    • Major changes in both school and higher education
    • Better Governance systems
    • Greater focus on research and innovation.
  • National Research Foundation (NRF) proposed
    • To fund, coordinate and promote research in the country.
    • To assimilate independent research grants given by various Ministries.
    • To strengthen overall research eco-system in the country
    • This would be adequately supplemented with additional funds.
  • Rs. 400 crore provided for “World Class Institutions”, for FY 2019-20, more than three times the revised estimates for the previous year.
  • ‘Study in India’ proposed to bring foreign students to study in Indian higher educational institutions.
  • Regulatory systems of higher education to be reformed comprehensively:
    • To promote greater autonomy.
    • To focus on better academic outcomes.
  • Draft legislation to set up Higher Education Commission of India (HECI), to be presented.
  • Khelo India Scheme to be expanded with all necessary financial support.
  • National Sports Education Board for development of sportspersons to be set up under Khelo India, to popularize sports at all levels
  • To prepare youth for overseas jobs, focus to be increased on globally valued skill-sets including language training, AI, IoT, Big Data, 3D Printing, Virtual Reality and Robotics.
  • Set of four labour codes proposed, to streamline multiple labour laws to standardize and streamline registration and filing of returns.
  • A television program proposed exclusively for and by start-ups, within the DD bouquet of channels.
  • Stand-Up India Scheme to be continued for the period of 2020-25. The Banks to provide financial assistance for demand based businesses.

Ease of Living

  • About 30 lakh workers joined the Pradhan Mantri Shram Yogi Maandhan Scheme that provides Rs. 3,000 per month as pension on attaining the age of 60 to workers in unorganized and informal sectors.
  • Approximately 35 crore LED bulbs distributed under UJALA Yojana leading to cost saving of Rs. 18,341 crore annually.
  • Solar stoves and battery chargers to be promoted using the approach of LED bulbs mission.
  • A massive program of railway station modernization to be launched.

Naari Tu Narayani/Women

  • Approach shift from women-centric-policy making to women-led initiatives and movements.
  • A Committee proposed with Government and private stakeholders for moving forward on Gender budgeting.
  • SHG:
    • Women SHG interest subvention program proposed to be expanded to all districts.
    • Overdraft of Rs. 5,000 to be allowed for every verified women SHG member having a Jan Dhan Bank Account.
    • One woman per SHG to be eligible for a loan up to Rs. 1 lakh under MUDRA Scheme.

India’s Soft Power

  • Proposal to consider issuing Aadhaar Card for NRIs with Indian Passports on their arrival without waiting for 180 days.
  • Mission to integrate traditional artisans with global markets proposed, with necessary patents and geographical indicators.
  • 18 new Indian diplomatic Missions in Africa approved in March, 2018, out of which 5 already opened. Another 4 new Embassies intended in 2019-20.
  • Revamp of Indian Development Assistance Scheme (IDEAS) proposed.
  • 17 iconic Tourism Sites being developed into model world class tourist destinations.
  • Present digital repository aimed at preserving rich tribal cultural heritage, to be strengthened.

Banking and Financial Sector

  • NPAs of commercial banks reduced by over Rs. 1 lakh crore over the last year.
  • Record recovery of over Rs. 4 lakh crore effected over..
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Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman, presented the Union Budget 2019-20 in Parliament today.

Union Minister for Chemicals & Fertilizers, Shri D.V. Sadananda Gowda thanked the Finance Minister for increased allocation towards the Fertilizer Subsidy and said that the increased allocation would further help in increasing the efficiency of subsidy transfers to the farmers through DBT.

The Fertilizer Subsidy allocations have seen a hike of around Rs. 10,000 crores from Rs. 70,090.35 crores (Budget Estimates 2018-19) to Rs. 79,996 crores (Budget Estimates 2019-20). Out of this allocation, Urea subsidy comprises of Rs. 53,629 crores and Nutrient based subsidies of Rs. 26,367 crores, as per the Expenditure Profile 2019-20 document in the Budget.

The Fiscal Policy statement of the Budget mentions that a total of 610.08 lakh metric tonnes (LMT) of fertilizers have been sold under DBT scheme from March 2018 to May 2019. As this scheme has facilitated in removal of fake or duplicate beneficiaries, there has been a reduction of 120.88 in fertilizer sales to retailers after the implementation of DBT scheme, the statement said.

Further, the National Institutes of Pharmaceutical Education and Research (NIPER) have also seen a hike in allocations from Rs. 135 crores (Budget Estimates 2018-19) to Rs. Rs. 150 crores (Budget Estimates 2019-20).

The post Fertilizer Subsidy sees a hike of around Rs. 10,000 crores in Budget 2019-20  appeared first on The Newsy.

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The Union Budget 2019-20 proposed customs duty reductions on certain raw materials and capital goods needed for nuclear power plants. While presenting the Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman said these measures will further promote domestic manufacturing.

The customs duty reduction will be applicable for the following nuclear power plants:

  1. MahiBanswara Atomic Power project- 1 to 4,
  2. Kaiga Atomic Power project – 5 & 6,
  3. Gorakhpur Atomic Power project- 3 & 4,
  4. Chutka Atomic Power project- 1 & 2

With regard to Budget Estimates for Department of Atomic Energy (DAE), Rs 16,925 crore has been provided for FY 2019-20. The outlay for major schemes are given below:

Outlay of major schemes:

(in Rs crore)

Schemes                                                                      2018-19 (RE)                          2019-20 (BE) 

Nuclear fuel inventory                                                417                                          749

R&D basic Science and Engineering                          1000                                        1320

R&D for Fast Reactor S&T                                        210                                          271

Backed Fuel cycle projects                                         240                                          440

Radiation & Isotopes project                                      30                                            110

Nuclear Power Projects                                               64                                            110

Nuclear Fuel Projects                                                  164                                          170

AERB Expansion Project                                           15                                            40

The post Rs 16,925 crore BE for Department of Atomic Energy in General Budget 2019-20 appeared first on The Newsy.

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Presenting the General Budget 2019-20  in the Parliament today, Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman said that a Public Sector Enterprise viz. New Space India Limited (NSIL) has been incorporated as a new commercial arm of Department of Space to tap the benefits of the Research & Development carried out by ISRO.

The Company will spearhead commercialization of various space products including production of launch vehicles, transfer to technologies and marketing of space products. The Minister said that, “India has emerged as a major space power with the technology and ability to launch satellites and other space products at globally low cost. Time has come to harness this ability commercially”.

The Budget Estimates for Department of Space for FY 2019-20 is Rs 12,473.26 crore as compared to the RE of Rs 11,200 crore in FY 2018-19.

Outlay of major schemes:

(in Rs crore)

Schemes                                                                      2018-19 (RE)                          2019-20 (BE) 

Space Technology (including Gaganyan)                               6993                                        8408

Space Applications                                                                 1595                                        1885

INSAT Satellite Systems                                                        1330                                        884

The post New Space India Ltd. incorporated as a new commercial arm of D/o Space: Finance Minister appeared first on The Newsy.

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