Minister for Road Transport & Highways and Micro, Small and Medium Enterprises, Shri Nitin Gadkari announced simplification of process for registration of Micro, Small and Medium Enterprises. Addressing a webinar of SMEStreet GameChangers Forum this evening, Shri Gadkari said that now only PAN and Aadhaar will be required for registration of MSMEs.

The Minister added that after getting registered, the MSME unit will be getting priority and finance. He said that there is a need to impart training to small units in fields of entrepreneurship and other related aspects. He assured full support of the MSME Ministry, and also expressed hope that banks and NBFCs will also provide full support to small businesses.

Emphasizing the importance of MSMEs, the Minister said that the MSMEs contribute significantly in the economic and social development of the country by fostering entrepreneurship and generating large employment opportunities. He said that with an objective of making India a global economic powerhouse, vision of MSME aims towards building a supporting ecosystem for MSMEs to enhance their contribution towards five trillion dollar economy. He said that in order to boost the economic activities of MSMEs, the Government has announced a special incentive package ‘Aatmanirbhar Bharat Abhiyan’ of 20 lakh crore rupees.

meanwhile Senior officials of the Ministry of Finance, Government of India, will hold an interactive meeting on the 22^nd of June, 2021, between 11:00 AM to 01:00 PM with Infosys (the vendor and its team) on issues/glitches in the recently launched e-filing portal of the Income Tax Department. Other stakeholders including members from ICAI, auditors, consultants and taxpayers will also be a part of the interaction. The new portal has been fraught with several technical glitches/issues leading to taxpayer inconvenience. Written representations on the problems/difficulties faced in the portal have also been invited from the stakeholders. Representatives from Infosys team will be present to answer queries, clarify issues and receive inputs on the working of the portal, to remove glitches and sort out issues faced by the taxpayers.

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PM delivered a keynote address at a ‘Webinar on Budget Announcements 2021-22: Galvanising Efforts for Atmanirbhar Bharat’ on effective implementation of the Union Budget provisions in the defence sector in New Delhi . The Prime Minister said, the webinar assumes great significance as it is focusing on the important issue of making the country’s defence sector self-reliant.

The Prime Minister said that his government has relied on the capabilities of our engineers and scientists on developing the Tejas fighter aircraft and today Tejas is flying gracefully in the skies. A few weeks back, an order worth Rs. 48,000 crore was placed for Tejas.

The Prime Minister added that India has made a list of 101 important items related to defence, which can be manufactured indigenously with the help of our local industries. He said, a timeline has been set so that the domestic industry can plan to meet these requirements.

The Prime Minister said it is called a negative list in the official language but it is a positive list in the language of self-reliance. This is the positive list on which the country’s manufacturing capacity is going to increase, that will generate employment and will reduce India’s dependence on foreign countries for our defence needs.

In his opening remarks, Raksha Mantri Shri Rajnath Singh hailed Union Budget as a healthy mix of promise, potential and progress. He stressed that forward-looking agenda of the Budget will provide support to the defence and security of the country.

Shri Rajnath Singh said, “The Budget focuses on accelerating economic growth and creating job opportunities to reverse the adverse impact of COVID-19 pandemic with ‘Atmanirbhar Bharat’ at the core.”

The Raksha Mantri stated that the vision of self-reliant India of the Government defined the approach towards the defence sector in this year’s Budget. The Defence Budget has seen an unprecedented increase of 18.75 per cent in capital outlay over and above last financial year (FY) and 30 per cent the year before, which is the highest in the last one and a half decade.

Shri Rajnath Singh termed threat perceptions, aspirations, capacity & capability development initiatives and technological advancements as major factors that drive procurement decisions in defence. He underlined the close cooperation between the Armed Forces and manufacturers to reduce the gap between the aspirations of the Armed Forces and actual delivery by the manufacturers.

The Raksha Mantri stated that ‘Make in India, Make for the World’ is the only mantra to stay abreast with latest technological advancements and remain frugal at the same time. Emphasising that the defence industry can only thrive by going global, he said, the Government is actively promoting not only domestic manufacturing but also an export-oriented defence industry.

“The most important factor that is going to drive the domestic industry is ‘Atmanirbhar Bharat’,” Raksha Mantri underlined, saying that the Government is willing to deal with higher initial costs to build the defence industry for the future. He added that the focus of the Government is on ‘Ease of Doing Business’ to encourage foreign Original Equipment Manufacturers (OEMs) to set up manufacturing units in India, develop Joint Ventures with domestic defence sector.

Shri Rajnath Singh listed out number of initiatives taken by the Government to promote domestic defence manufacturing. He shed light on the plans to spend $130 billion on military modernisation in the next five years, mentioning about the recent order of 83 indigenously designed and developed Light Combat Aircraft MK 1A, Tejas, worth Rs 48,000 crore, awarded to Hindustan Aeronautics Limited (HAL) during the recently held Aero India 2021. He added that the contract for indigenously designed Light Combat Helicopter is likely to be signed soon.

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