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Budget 2021 to boost public transport; Railways to spend Rs 1.07 trn in capex
The government plans to deploy two new technologies i.e. MetroLite and MetroNeo to provide metro rail systems at much lesser cost with same experience, convenience and safety in Tier-2 cities and peripheral areas of Tier-1 cities. Read more
India’s GDP to grow 11% in 2021-22: Economic Survey
V-Shaped economic recovery to be driven by mega vaccination drive, robust recovery in the services sector, robust growth in consumption and investment. Agriculture to clock 3.4% growth in 2020-21, while industry and services to contract by 9.6% and 8.8% respectively.Read more
FM announces Rs 2.65 trn stimulus under Aatmanirbhar Bharat 3.0 to boost growth
Emergency Credit Line Guarantee Scheme for MSMEs, businesses, MUDRA borrowers and individuals extended till March 31, 2021 and additional credit up to 20%. Provides Rs 30 billion to boost project exports and Rs 102 billion additional budget stimulus for capital and industrial expenditure.Read more
Govt’s economic package to benefit machine tool industry: IMTMA
The momentum set by this economic package will help industries to pick themselves up from the economic slowdown and coronavirus outbreak that they were battling with, says Indradev Babu, President, IMTMARead more
Govt’s relief measures focuses on MSMEs to reduce COVID 19 impact
Govt’s relief measures focuses on MSMEs to reduce COVID 19 impactRead more
[Budget 2020] New NIRVIK scheme to provide higher export credit disbursement
FM Nirmala Sitharaman proposes allocation of Rs 27,300 crore for industry and commerce in FY21; and raises Customs Duties on number of productsRead more
[Budget 2020] Budget aims to give boost to MSME sector with number of proposals
MSMEs turnover threshold for audit increased 5 times to Rs 5 crore, proposes Rs 1000 crore for MSME funds, increase customs duties on labour-intensive products like footwear, furniture, etcRead more
[Budget 2020] FM announces new smart meters scheme; allocates Rs 22,000 crore to power and renewable sector
Smart meters scheme, which is aimed at reducing financial stress of Discoms, will help companies like Secure Meters, HPL Electric & Power Ltd, etcRead more
[Budget 2020] FM announces scheme to boost domestic manufacturing of electronic goods
Aim is to reduce reliance on Chinese imports of electronic components. FM also allocated Rs 8,000 cr for setting up National Mission on Quantum Computing to compete with US and China in this new field Read more
Govt reduces corporate tax to 22% and 15% for new manufacturing firms
Decision to expand the scope of CSR spending expected to promote PPP in R&D and help India move up the innovation ladderRead more