educratsweb logo


Promotion of industries is a continuous and ongoing effort of the Government. Government has taken a number of steps, in addition to the ongoing schemes, to boost the growth of industries. The measures taken in a few important areas are highlighted below:

 

  1. Atmanirbhar Package to boost Industrial growth has been announced by the Government for Rs. 20.97 lakh crore with bold reforms in a number of sectors.  The Emergency Credit Line Guarantee Scheme (ECLGS), having provision of Rs 3 lakh crores, is 100% credit guarantee and Collateral Free Automatic Loans for MSMEs. Financial support has been given to the stressed MSMEs with infusion of Rs.20,000 crore equity support through Subordinate Debt.   Fund of Funds created to infuse equity worth Rs.50,000 crore in the MSME Sector by setting up Rs.10,000 crore Corpus Fund. Also, Government is ensuring timely payment to the MSMEs by instructing all Government of India and CPSEs to clear all receivables of MSMEs within 45 days. Procurement from domestic companies is being encouraged by disallowing global tender in government procurement tenders upto Rs 200 crores.

 

  1. Higher FDI has been allowed through automatic route in a number of sectors by streamlining and liberalising several sectors.Empowered Group of Secretaries (EGoS) & Project Development Cells (PDCs) have been set up in order to provide support and facilitation to investors for investing in India and to boost growth in key sectors of the economy.

 

  1. A centralized Investment Clearance Cell is being created, which would provide end-to-end facilitation support, including pre-investment advisory, information related to land banks and facilitating clearances at Central and State level.

 

  1. The Insolvency and Bankruptcy Code has been enacted in December 2016 to address India’s chronic problem of non-performing assets (NPA). 

 

  1. Corporate Taxeshave been reduced to encourage domestic manufacturing. With effect from FY 2019-20, corporate tax for domestic companies has been reduced to 22 per cent and for new manufacturing companies, incorporated on or after 01.10.2019, to 15 per cent.

 

  1. In order to realize the economies of scale, incentives are extended to units as per annual increases in their production/sale under Production Linked Incentive (PLI) scheme. PLI scheme has been announced for large scale electronics manufacturing (Rs.40,955 crore), medical devices (Rs.3,420 crore) and KSMs/ Drug Intermediates and APIs (Rs. 6,940 crore).

 

  1. In order to promote domestic manufacturing of sectors facing high imports or cheaper imports, incentives are provided through rationalization of Basic Customs Duty on identified products underPhased Manufacturing Programme (PMP).  Presently, PMP is in operation for Cellular Mobile Handsets and e-vehicles.

 

  1. The Government has launched the National Infrastructure Pipeline (NIP) in December, 2019 to provide world-class infrastructure across the country and improve the quality of life for all citizens. As per Final Report submitted by the NIP Task Force, the projected total expenditure on infrastructure would be of Rs. 111 lakh crore during the period FY 2020-25.

India has responded proactively to the Covid-19 challenge.  Indian manufacturers have enhanced production of PPE, N-95/N-99 masks, HCQ medicine and oxygen cylinders to meet the domestic/external requirements.  The Indian economy is known for its resilience and is expected to gradually return to its high growth performance in the coming months.

                        As per IMF’s World Economic Outlook (WEO) (June 2020), in the year 2020, global economic growth is projected to contract by 4.9 percent. The COVID-19 pandemic has had a bigger negative impact on activity in the first half of 2020. Most economies in the group are forecasted to contract this year, including the United States (– 8.0 percent), Japan (–5.8 percent), the United Kingdom (–10.2 percent), Germany (–7.8 percent), France (–12.5 percent), Italy (–12.8 percent), and Spain (–12.8 percent).

As per the Global Economic Prospects Report(June 2020) of theWorld Bank, global GDP is expected to contract by 5.2 percent in 2020, the deepest global recession in eight decades, despite unprecedented policy support. 

This information was given by the Union Minister of Commerce and Industry, Shri Piyush Goyal, in a written reply in the Lok Sabha today.

Sources https://pib.gov.in/PressReleseDetail.aspx?PRID=1655048

Boosting The Growth of Industries
educratsweb.com

Posted by: educratsweb.com

I am owner of this website and bharatpages.in . I Love blogging and Enjoy to listening old song. ....
Enjoy this Author Blog/Website visit http://twitter.com/bharatpages

if you have any information regarding Job, Study Material or any other information related to career. you can Post your article on our website. Click here to Register & Share your contents.
For Advertisment or any query email us at educratsweb@gmail.com

RELATED POST
1. Unacademy announces ESOPs buyback
Unacademy announces ESOPs buyback ESOPs buyback on December 10, 2020, second liquidity event in company’s history ·         Current and exited employees may liquidate between 25% to 100% of their vestedESOPs Mumbai, October 15, 2020: Unacademy, India’s largest learning platform, announced it will have an ESOPs buyback on December 10, 2020 for its current and exited employees, the second s
2. Festive Cheer- agarbathi industry TO WITNESS 30% rise in Sales this Festive Season FORECASTS AIAMA
Festive Cheer- agarbathi industry TO WITNESS 30% rise in Sales this Festive Season FORECASTS AIAMA  Mumbai 14 October, 2020: With the festive season setting in, All India Agarbathi Manufacturers Association (AIAMA) estimates a 30% increase in consumption. This will bring cheer to theAgarbathimanufactures, thereby helping support the lakhs of underprivileged women dependent on the industry. 
3. Embassy Group forays into Senior Living
Embassy Group forays into Senior Living ~ Partners with Columbia Pacific Communities, India’s largest senior living community operator ~   Mumbai, October 13, 2020: Embassy Group, India’s leading real estate developer, forays into a new asset class, senior living, to cater to senior citizens in the country. The current pandemic situation has f
4. METRO Cash & Carry opens its 28th METRO Wholesale store in India at Tumakuru, Karnataka
METRO Cash & Carry opens its 28th METRO Wholesale store in India at Tumakuru, Karnataka METRO Cash & Carry opens its 28th METRO Wholesale store in India at Tumakuru, Karnataka ·         Being ‘Vocal for Local’, 99% products METRO sel
5. Establishment of the Development Council for Footwear and Leather Industry
The Department for Promotion of Industry and Internal Trade (DPIIT) has issued a notification, constituting Development Council for Footwear & Leather Industry (DCFLI). Shri R K Gupta will chair DCFLI for 2 years. 24 other members have also been nominated. The Development Council for Footwear and Leather Industry has been established for the formulation and implementation of promotional and developmental measures for the growth of labour intensive footwear and leather sectors in India. To b
6. Measures to Boost Industrial Growth Rate
Industrial growth depends on a number of factors including structural, external, fiscal and industrial factors.  The moderation in India’s industrial growth coincides with deceleration in growth of global output.  The sudden outbreak of COVID-19 has severely impacted some of the major economies of the world. It has affected countries across the globe including some of the major players like USA, European Union, UK, and India.  Both World Bank and IMF estimate contraction in global GD
7. Rise in Price of Essential Items
Details of retail inflation based on Consumer Price Index (CPI), brought out by M/o Statistics and Programme Implementation (MoSPI) from January to August 2019 and current year 2020 is as follows-   Consumer Price Index (Inflation %) Months
8. FDI IN DEFENCE SECTOR
In May, 2001, the Defence Industry sector, which was hitherto reserved for the public sector, was opened up to 100% for Indian private sector participation, with Foreign Direct Investment (FDI) up to 26% both subject to licensing. Further,  Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry vide Press Note No. 5 (2016 Series), allowed FDI under automatic route upto 49% and above 49% through government route wherever it was likely to result in access to moder
9. Tata Elxsi selected as certified 3PL partner for Google Widevine
Tata Elxsi selected as certified 3PL partner for Google Widevine Mumbai- Oct 15, 2020 - Tata Elxsi, a world leading design and technology services company, is pleased to announce its selection as a 3PL certification partner for Google Widevine, to deliver secure premium content protection for Broadcast, Media, Consumer Electronics and Automotive applications. This certification partnership further expands Tata Elxsi’s offer
10. Some of the best translation agencies in the US
There are many types of business translations services. These include all type of corporations, from small businesses to large organizations, as its clients. They also include different type of documents related to document processes, such as conference presentations, contract negotiations, marketing material and client meetings, among many others. As a result of the current economic climate, a business translation takes on special relevance for companies looki
11. KVIC's Use of Paper Packaging in Online Sales Earns Public Accolades
Khadi and Village Industries Commission’s (KVIC) venture into the E-Commerce industry  just  two  months ago is using   handmade paper packaging materials from day one to prevent plastic pollution that is along the Khadi’s principle of “Green Chemistry''. KVIC is specifically using handmade paper envelopes/packets and handmade carton boxes for packaging of articles except for liquid materials where plastic wraps are nominally used to prevent an
12. Khadi opens Outlet in SPG Complex to Accelerate Swadeshi push
Khadi and Village Industries Commission (KVIC) has taken another step towards promoting “Swadeshi”; and this time by roping in the Special Protection Group (SPG) with the drive. Today, KVIC inaugurated a new Khadi India Sales Outlet within the premises of SPG Residential Complex at Dwarka in Delhi. This outlet will benefit nearly 4000 families of SPG officers and staff residing in two adjacent residential complexes in the area. SPG is the agency responsible for security of the Indian Prime Mi
13. ₹ 95,480 croregross GST revenue collected in September
The gross GST revenue collected in the month of September, 2020 is ₹ 95,480 crore of which CGST is ₹ 17,741 crore, SGST is ₹ 23,131 crore, IGST is ₹ 47,484 crore (including ₹ 22,442 crore collected on import of goods) and Cess is ₹7,124 crore (including ₹ 788 crore collected on import of goods). The government has settled ₹ 21,260 crore to CGST and ₹ 16,997 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments a
14. Ease of Doing Business
The Department for Promotion of Industry and Internal Trade (DPIIT) in coordination with Governments of States and Union Territories (UTs), is working on improving business regulatory environment in States and UTs. The exercise involves identifying reforms which bring Ease of Doing Business (EoDB), in consultation with the States and UTs. Once identified, these reforms are compiled into an Action Plan and shared with States and UTs for its imple
15. Sovereign Gold Bond Scheme 2020-21
The Government of India, in consultation withthe Reserve Bank of India, has decided to issue Sovereign Gold Bonds. The Sovereign Gold Bonds will be issued in six tranches from October 2020 to March 2021as per the calendar specified below: S. No.
16. Investment in Defence through FDI Route
In May, 2001, the Defence Industry sector, which was hitherto reserved for the public sector, was opened up to 100% for Indian private sector participation, with Foreign Direct Investment (FDI) up to 26% both subject to licensing.  Further, Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry vide Press Note No.5 (2016 Series)’, has allowed FDI under automatic route upto 49% and above 49% through government route wherever it is likely to result in access
17. Measures to promote growth, investment and create new employment opportunities through amendments in the Income Tax Act 1961
In September 2019, the Government announced several measures to promote growth, investment and create new employment opportunities through the amendments in the Income-tax Act, 1961 and the Finance Act (No. 2), 2019. This was stated by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs in response to a question asked in the Lok Sabha today. Shri Thakur enumerated the measures taken by Ministry of Finance, which are as follows: reduction in the corp
18. MPs Shri Arun Singh & Meenakashi Lekhi launch KVIC Innovative Project DigniTEA in Delhi
To celebrate Sewa Diwas, which marks the birthday of the Prime Minister Shri Narendra Modi, Khadi and Village Industries Commission (KVIC) distributed 6 innovative cycle-mounted Tea/Coffee Selling units under Project DigniTEA in New Delhi on Thursday. The cycle-mounted tea/coffee selling units have been distributed to 6 unemployed local youths by Member of Parliament (Rajya Sabha) Shri Arun Singh, and MP from New Delhi, Smt Meenakashi Lekhi in presence of KVIC Chairman Shri Vinai Kumar Saxena. These unit
19. The importance of translation services for companies
Is your business strong in the country and you want to expand it globally? Global exposure is only possible if you prepare for it. Business communication with multiple countries requires expertise and precision. Whether you are in the public or private sector, you need professional translation services for more than one language. What are the advantages of using translation agencies? Better communication with customers: If your company needs to communicate
20. 37 Mega Food Parks in 23 States/UTs approved
Ministry of Food Processing Industries is implementing Mega Food Park Scheme (MFPS) to create modern infrastructure for the food processing industries since 2008. This scheme is now a component of the new Central Sector Umbrella Scheme– Pradhan Mantri Kisan Sampada Yojana (PMKSY). The Mega Food Park Scheme (MFPS) aims at providing modern infrastructure facilities for food processing along the value chain from farm to market. As on date, Ministry has accorded final approval to 37 MFPs in 2
21. Production of Ethanol
The ethanol procured for ethanol blended petrol by Oil Marketing Companies (OMCs) in the last three years is as under: Ethanol Supply Year (ESY)* Quantity (in crore litre) 2016-17 66.5
22. New Fertilizer units being setup with an investment of 40,000 crore rupees : Shri Gowda
Union Minister for Chemicals and Fertilizers Shri D.V. Sadananda Gowda  said, by 2023 India will be self-reliant in the production of fertilizers as  under “Atma Nirbhar  Bharat” programme new fertilizer manufacturing units are being setup  with  an investment of Rs 40,000 crore in the country to reduce dependency on import.  
23. Boosting The Growth of Industries
Promotion of industries is a continuous and ongoing effort of the Government. Government has taken a number of steps, in addition to the ongoing schemes, to boost the growth of industries. The measures taken in a few important areas are highlighted below:   Atmanirbhar Package to boost Industrial growth has been announced by the Government for Rs. 20.97 lakh crore with bold reforms in a number of sectors.  The Emergency Credit Line Guarantee Scheme (
24. NFL produces 16.11 lakh tonne of urea recording 13% growth in April-Aug 2020-2021
National Fertilizers Limited -NFL has surpassed the productions targets by producing 16.11 Lakh MT urea in first five months of 2020-21, higher by 13% compared to 14.26 LMT produced during the same period in 2019-20.   According t
25. Best Business Services in India
Best Institution in India Best Institution in Nellore, ANDHRA PRADESH
26 बिहार तकनीकी सेवा आयोग | आयुष चिकित्सा पदाधिकारी की नियुक्ति हेतु विज्ञापान #Bihar 2 Days Remaining for Apply
बिहार तकनीकी सेवा आयोग | आयुष चिकित्सा पदाधिकारी की नियुक्ति हेतु विज्ञापान बिहा ...
27 Educational talent search program, ALLEN academics young talent search program for students | TALLENTEX 2021 #Scholorship 19 Days Remaining for Apply
Educational talent search program, ALLEN academics young talent search program for students | TALLENTEX 2021For student Studying in class 5th, 6th, 7th, 8th, 9th & 10th Stage-1 : Online | Stage-2 : Offline / CBT ...
28 Recruitment of Job vacancy in Maharashtra Natural Gas Limited (MNGL) 2020 #Maharashtra 9 Days Remaining for Apply
 Recruitment of Job vacancy in MNGL 2020 Maharashtra Natural Gas Limited (MNGL) invites application in the prescribed format for following Government Job Vacancy positions of Manager and Officer in various disciplines 2020. Maharashtra Natural Gas Limited, a joint venture Company of two Navratna PSUs viz ...
29 IBPS 10th CRP for Clerk Vacancy Recruitment in PSU Banks 2021-22 #Bank 15 Days Remaining for Apply
IBPS 10th CRP for Clerk Vacancy Recruitment in PSU Banks 2021-22 It has been decided by IBPS to reopen the registration window and invite applications for 10th (Xth) online examination (Preliminary and Main) for Clerical cadre Posts in the Participating Organisations in continuation to the detailed advertisement dated 01/09/2020. ...
We would love to hear your thoughts, concerns or problems with anything so we can improve our website educratsweb.com ! visit https://forms.gle/jDz4fFqXuvSfQmUC9 and submit your valuable feedback.
Save this page as PDF | Recommend to your Friends

http://educratsweb(dot)com http://educratsweb.com/content.php?id=4100 http://educratsweb.com educratsweb.com educratsweb