economicboost
By NewsByts Team
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Business, Economy, ,

PM FME scheme launched; to generate total investment of Rs 35,000 crore, 9 lakh employment

Government on Monday launched the PM Formalization of Micro Food Processing Enterprises (PM FME) scheme as a part of “Atmanirbhar Bharat Abhiyan”. Minister for Food Processing Industries Harsimrat Kaur Badal, launching the scheme said that the Scheme would generate total investment of Rs 35,000 crore and generate 9 lakh skilled and semi-skilled employment and benefit 8 lakh units through access to information, training, better exposure and formalization.  “With a view to providing financial, technical and business support for upgradation of existing micro food processing enterprises, the Ministry…
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By NewsByts Team
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COVID 19 News, Economy, India, , ,

RBI ramps up economic support; cuts interest rates, extends loan moratorium

The Reserve Bank of India (RBI) on Friday slashed interest rates, extended moratorium on loan repayments and allowed banks to lend more to corporates in an effort to support the economy which is likely to contract for the first time in over four decades. The benchmark repurchase (repo) rate was cut by 40 basis points to 4 per cent, Governor Shaktikanta Das said announcing the decisions taken by the central bank's Monetary Policy Committee (MPC) that met ahead of its scheduled meeting in early June. Consequently, the…
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'Politics, COVID 19 News, Economy, FightagainstCorona, India, , ,

Economic package 5th and final tranche – Highlights

Following are the highlights of the fifth and final tranche of the Rs 20 lakh crore comprehensive economic package announced by Finance Minister Nirmala Sitharaman to tide over the COVID-19 crisis: * Additional Rs 40,000 cr allocation for MGNREGS to provide employment boost * Public expenditure on health to be increased * Ramp up health centres in rural and urban areas for any future pandemics * Suspension of fresh initiation of insolvency proceedings up to 1 year * Threshold to initiate insolvency proceedings raised to Rs 1…
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By NewsByts Team
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'Politics, COVID 19 News, Economy, FightagainstCorona, India, Uncategorised, ,

Rs 20 lakh crore relief package, 5 pillars and lockdown 4.0: Highlight of PM Narendra Modi’s speech

Prime Minister Narendra Modi on Tuesday (May 12) while addressing the nation on the COVID-19 crisis said that we are in a state of war against the coronavirus. Here are some of the top quotes of PM Narendra Modi from today's address:  One virus has destroyed the world.This is an unprecedented crisis; we have to protect ourselves and move ahead as well.Making India self-reliant is only way to make 21st century belong to India.India didn't produce any PPE before COVID-19 crisis and manufactured very few N-95 masks;…
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