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		<title>NINE mega opportunities for PR in 9 priorities of the first budget of Modi 3.0</title>
		<link>https://newsmantra.in/nine-mega-opportunities-for-pr-in-9-priorities-of-the-first-budget-of-modi-3-0/</link>
		
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		<pubDate>Wed, 24 Jul 2024 12:59:50 +0000</pubDate>
				<category><![CDATA[Govt. Mantra]]></category>
		<category><![CDATA[Budget]]></category>
		<category><![CDATA[Budget 2024]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[FINANCE MINISTER]]></category>
		<category><![CDATA[INFRASTRUCTURE]]></category>
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		<category><![CDATA[nirmala sitharaman]]></category>
		<category><![CDATA[PRIME MINISTER]]></category>
		<category><![CDATA[Union Budget]]></category>
		<guid isPermaLink="false">https://newsmantra.in/?p=41401</guid>

					<description><![CDATA[<p>By Ramakant Chaudhary The Union Budget 2024-25, which resonates with the spirit of &#8216;Viksit Bharat,&#8217; emphasizes inclusive growth with a focus on Mahilayen, Garib, Yuva, and Annadata. This budget is significantly influenced by the impact of the Lok Sabha elections, which re-elected PM Narendra Modi for a historic third term....</p>
<p>The post <a href="https://newsmantra.in/nine-mega-opportunities-for-pr-in-9-priorities-of-the-first-budget-of-modi-3-0/">NINE mega opportunities for PR in 9 priorities of the first budget of Modi 3.0</a> appeared first on <a href="https://newsmantra.in">newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu &amp; Kashmir, Trending news | News Mantra</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><strong>By Ramakant Chaudhary</strong></p>
<p>The Union Budget 2024-25, which resonates with the spirit of &#8216;Viksit Bharat,&#8217; emphasizes inclusive growth with a focus on Mahilayen, Garib, Yuva, and Annadata. This budget is significantly influenced by the impact of the Lok Sabha elections, which re-elected PM Narendra Modi for a historic third term. The election message for the BJP is writ large on the first budget of Modi 3.0: that their parliamentary seats have decreased, and there are upcoming assembly elections in three states. Setting a robust roadmap for India&#8217;s development, the budget, tabled by Finance Minister Nirmala Sitharama, outlines nine critical priorities, each designed to augment growth, inclusivity, and resilience.</p>
<p>By leveraging these opportunities, Public Relations (PR) professionals can play a vital role in amplifying the impact of the government&#8217;s initiatives, benefiting all stakeholders, including Sarkar and Aaam Aadami. PR experts and communication strategists can shape public perception of the budget agenda, the blueprints of ministries, and their initiatives. To effectively disseminate messages, government entities can harness the power of events and publicity.</p>
<p>Here, are nine priorities outlined in the budget and the myriad ways in which PR can amplify their implementation and extend their reach.</p>
<p><strong>1. Productivity and Resilience in Agriculture</strong></p>
<p><strong>Opportunities:</strong></p>
<p>· Allocation of ₹1.52 lakh crore to agriculture and allied sectors.</p>
<p>· Introduction of 109 new high-yielding and climate-resilient varieties across 32 field and horticulture crops.</p>
<p>· Enrollment of 1 crore farmers into natural farming practices, with certification and branding within the next 2 years.</p>
<p>· Establishment of 10,000 need-based bio-input resource centers for natural farming.</p>
<p>· Implementation of Digital Public Infrastructure (DPI) to cover farmers and their lands within 3 years.</p>
<p><strong>Analysis:</strong> PR campaigns can effectively spotlight the advantages of digital crop surveys and farmer registries by sharing success stories of farmers who have embraced these innovations. By creating educational content and targeted communications, PR agencies can enhance farmers&#8217; understanding of DPI&#8217;s benefits, building trust and encouraging adoption. Hosting workshops and webinars can further facilitate the transfer of knowledge, enabling farmers to implement new practices efficiently.</p>
<p><strong>2. Employment and Skilling</strong></p>
<p><strong>Opportunities:</strong></p>
<p>Implementation of three schemes under the Prime Minister’s package for ‘Employment Linked Incentives’:</p>
<p>· Scheme A: First Timers – providing wage support to new employees.</p>
<p>· Scheme B: Job Creation in Manufacturing – offering incentives to create new jobs.</p>
<p>· Scheme C: Support to Employers – financial assistance to employers for additional hires.</p>
<p>· Establishment of working women hostels and crèches in collaboration with industries.</p>
<p>· Organization of women-specific skilling programs and promotion of market access for women SHG enterprises.</p>
<p>· Introduction of a new centrally sponsored skilling scheme under the Prime Minister’s Package to benefit 20 lakh youth over the next 5 years.</p>
<p>· Revision of the Model Skill Loan Scheme to offer loans up to ₹7.5 lakh.</p>
<p>· Provision of financial support for loans up to ₹10 lakh for higher education in domestic institutions for youth who have not previously benefited from government schemes.</p>
<p><strong>Analysis:</strong> PR campaigns can effectively highlight the advantages of these employment and skilling schemes by showcasing success stories of first-time employees and employers who have benefited from these initiatives. Emphasizing the impact of direct benefit transfers and additional job opportunities can drive greater participation. Leveraging social media and forging partnerships with educational institutions can amplify these messages, ensuring they reach and resonate with the target audience. Additionally, campaigns can focus on the positive outcomes of the women-specific programs and support for higher education, reinforcing the government’s commitment to inclusive growth.</p>
<p><strong>3. Inclusive Human Resource Development and Social Justice</strong></p>
<p><strong>Opportunity:</strong> The government&#8217;s focus on all-round development and social justice creates numerous PR opportunities to promote inclusivity.</p>
<p>· Purvodaya: Development initiatives aimed at Eastern India.</p>
<p>· Andhra Pradesh Reorganization Act: Addressing the unique needs of the newly reorganized state.</p>
<p>· Women-led Development: Programs to empower women across various sectors.</p>
<p>· Pradhan Mantri Janjatiya Unnat Gram Abhiyan: Enhancing the quality of life in tribal areas.</p>
<p>· Expansion of Bank Branches in the North-Eastern Region: Increasing financial inclusion.</p>
<p><strong>Analysis:</strong> PR agencies play a crucial role in highlighting the government&#8217;s dedication to supporting marginalized communities through these initiatives. Campaigns can spotlight the transformative effects of schemes such as PM Vishwakarma, PM SVANidhi, and Stand-Up India, fostering empowerment and engagement among beneficiaries. By partnering with NGOs and community organizations, PR agencies can amplify these messages, ensuring they effectively reach and resonate with the target audience. This strategic approach not only raises awareness but also enhances the overall impact of these development programs, driving positive change and fostering a sense of inclusion and support among diverse communities.</p>
<p><strong>4. Manufacturing and Services</strong></p>
<p><strong>Opportunity:</strong> Special attention to MSMEs and labour-intensive manufacturing highlights the budget&#8217;s focus on industrial growth. The comprehensive package for MSMEs, including financing, regulatory changes, and technology support, aims to boost their global competitiveness. Schemes like the Credit Guarantee Scheme and Mudra Loans are designed to facilitate easier access to credit for MSMEs, fostering entrepreneurship and innovation. This focus on manufacturing is expected to drive job creation and economic diversification.</p>
<p>It presents a significant opportunity for PR professionals.</p>
<p><strong>Analysis:</strong> PR campaigns can showcase the government&#8217;s initiatives to support MSMEs through financial packages, regulatory changes, and technology support. Highlighting stories of MSMEs that have successfully leveraged these initiatives can inspire other businesses to follow suit. PR agencies can also create content that educates MSMEs about the available support, helping them navigate the complexities of accessing these benefits.</p>
<p><strong>5. Urban Development</strong></p>
<p><strong>Opportunity:</strong> The PM Awas Yojana Urban 2.0 addresses the housing needs of urban poor and middle-class families with a substantial investment of Rs 10 lakh crore. The provision of affordable loans and interest subsidies ensures accessible housing solutions. Additionally, the promotion of water supply, sewage treatment, and solid waste management in 100 large cities enhances urban infrastructure. By developing ‘Cities as Growth Hubs’, the government aims to create sustainable urban ecosystems that can drive economic growth and improve living standards.</p>
<p>It provides a rich ground for PR campaigns focused on sustainable urban living.</p>
<p><strong>Analysis:</strong> PR agencies can craft narratives that emphasize the transformative impact of these housing and urban development projects. Success stories of families benefiting from affordable housing can be highlighted to showcase the government&#8217;s commitment to improving urban living conditions. Additionally, PR campaigns can promote the benefits of sustainable urban infrastructure projects, encouraging public participation and support.</p>
<p><strong>6. Energy Security</strong></p>
<p><strong>Opportunity:</strong> The PM Surya Ghar Muft Bijli Yojana is a transformative step towards achieving energy security. The installation of rooftop solar plants for 1 crore households, providing free electricity up to 300 units per month, not only reduces energy costs but also promotes sustainable energy consumption. This initiative aligns with India&#8217;s renewable energy goals and addresses environmental sustainability. The budget’s focus on energy transition pathways balances the imperatives of employment, growth, and environmental sustainability.</p>
<p>It offers a unique opportunity for PR professionals to promote renewable energy initiatives.</p>
<p><strong>Analysis:</strong> PR campaigns can focus on the environmental and economic benefits of rooftop solar plants, encouraging more households to participate in the scheme. Highlighting success stories and testimonials from households that have benefited from free electricity can create a positive buzz. Educational content about the long-term savings and environmental impact of solar energy can further enhance public awareness and participation.</p>
<p><strong>7. Infrastructure</strong></p>
<p><strong>Opportunity:</strong> The allocation of Rs 11,11,111 crore for capital expenditure underscores the government&#8217;s commitment to infrastructure development. This substantial investment is expected to have a multiplier effect on the economy, driving growth and job creation. The provision of Rs 1.5 lakh crore for interest-free loans to states encourages them to prioritize infrastructure development. By maintaining strong fiscal support for infrastructure, the government aims to build a robust foundation for sustained economic growth.</p>
<p>The substantial investment in infrastructure provides a platform for PR campaigns that emphasize economic growth and development.</p>
<p><strong>Analysis:</strong> PR agencies can create narratives that highlight the multiplier effect of infrastructure investments on the economy. Success stories of regions that have benefited from improved infrastructure can be showcased to illustrate the tangible benefits of these projects. PR campaigns can also promote the importance of state-level support and collaboration, encouraging states to prioritize infrastructure development.</p>
<p><strong>8. Innovation, Research &amp; Development</strong></p>
<p><strong>Opportunity:</strong> The operationalization of the Anusandhan National Research Fund and the establishment of a private sector-driven research mechanism signify the government&#8217;s dedication to innovation. The Rs 1 lakh crore financing pool for research and development aims to spur technological advancements and commercialization. The venture capital fund for expanding the space economy further demonstrates India&#8217;s ambition to be at the forefront of cutting-edge technologies. These initiatives are critical for maintaining a culture of innovation and maintaining global competitiveness.</p>
<p>The operationalization of the Anusandhan National Research Fund and private sector-driven research initiatives offer significant PR opportunities.</p>
<p><strong>Analysis:</strong> PR campaigns can highlight the government&#8217;s commitment to fostering innovation and technological advancements. Stories of successful research projects and technological innovations can inspire further participation from the private sector. PR agencies can also promote the benefits of the venture capital fund for the space economy, positioning India as a leader in space research and development.</p>
<p><strong>9. Next Generation Reforms</strong></p>
<p><strong>Opportunity:</strong> The formulation of an Economic Policy Framework for next-generation reforms reflects the government&#8217;s forward-thinking approach. By improving productivity and efficiency across factors of production—land, labour, capital, and entrepreneurship—the budget sets the stage for sustainable economic growth. The emphasis on technology as an enabler and the collaboration between the Centre and states highlight the importance of competitive federalism. These reforms aim to create a conducive environment for business, drive investment, and ensure long-term economic stability.</p>
<p>The government’s focus on next-generation reforms offers a platform for PR campaigns that emphasize economic modernization and productivity.</p>
<p><strong>Analysis: </strong>PR agencies can craft narratives that explain the importance of reforms in improving productivity and market efficiency. Success stories of businesses and regions that have benefited from these reforms can be highlighted to illustrate their impact. Educational content about the long-term benefits of these reforms can help build public support and understanding.</p>
<p>In nutshell, the Union Budget 2024-25 provides numerous opportunities for PR agencies to play a pivotal role in promoting and enhancing the impact of the government&#8217;s initiatives. By building persuasive narratives, highlighting success stories, and educating the public, PR professionals can help ensure that these initiatives reach their full potential, facilitating more informed and supportive populace that will drive India towards its goal of becoming a developed nation.</p>
<p><em style="font-weight: bold;"><img decoding="async" class="wp-image-24919 alignleft" src="https://newsmantra.in/wp-content/uploads/2023/06/ramakant-sir-300x300.jpg" alt="Ramakant Chaudhary" width="152" height="152" srcset="https://newsmantra.in/wp-content/uploads/2023/06/ramakant-sir-300x300.jpg 300w, https://newsmantra.in/wp-content/uploads/2023/06/ramakant-sir-150x150.jpg 150w, https://newsmantra.in/wp-content/uploads/2023/06/ramakant-sir-280x280.jpg 280w, https://newsmantra.in/wp-content/uploads/2023/06/ramakant-sir.jpg 400w" sizes="(max-width: 152px) 100vw, 152px" />Ramakant Chaudhary is senior journalist and currently working with PRP Group as Content Head. He has worked in various editorial roles with Financial Express, Mint (Hindustan Times Group), The Times Of India, Jagran Post (Dainik Jagran Group), The Pioneer, and The Political and Business Daily. He writes going beyond headlines on: politics, government policy, economy, infrastructure, real estate, education, social issues, lifestyle, and health.</em></p>
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<p>The post <a href="https://newsmantra.in/nine-mega-opportunities-for-pr-in-9-priorities-of-the-first-budget-of-modi-3-0/">NINE mega opportunities for PR in 9 priorities of the first budget of Modi 3.0</a> appeared first on <a href="https://newsmantra.in">newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu &amp; Kashmir, Trending news | News Mantra</a>.</p>
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		<title>IFFCO forays into Agri-Drones through “IFFCO Kisan Drone</title>
		<link>https://newsmantra.in/iffco-forays-into-agri-drones-through-iffco-kisan-drone/</link>
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		<pubDate>Wed, 05 Jul 2023 04:47:34 +0000</pubDate>
				<category><![CDATA[PSU Mantra]]></category>
		<category><![CDATA[Agri-Drones]]></category>
		<category><![CDATA[AGRICULTURE]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[FARMER]]></category>
		<category><![CDATA[IFFCO]]></category>
		<category><![CDATA[KISAN]]></category>
		<guid isPermaLink="false">https://newsmantra.in/?p=25470</guid>

					<description><![CDATA[<p>IFFCO has launched a nationwide campaign to procure 2,500 Kisan Drones. It is been seen as a step towards sustainable agriculture and for upliftment of the rural economy Sharing the news through his twitter wall, IFFCO MD Dr U S Awasthi tweeted, . This is the Biggest Smart Agri-Solutions in...</p>
<p>The post <a href="https://newsmantra.in/iffco-forays-into-agri-drones-through-iffco-kisan-drone/">IFFCO forays into Agri-Drones through “IFFCO Kisan Drone</a> appeared first on <a href="https://newsmantra.in">newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu &amp; Kashmir, Trending news | News Mantra</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>IFFCO has launched a nationwide campaign to procure 2,500 Kisan Drones. It is been seen as a step towards sustainable agriculture and for upliftment of the rural economy</p>
<p>Sharing the news through his twitter wall, IFFCO MD Dr U S Awasthi tweeted, . This is the Biggest Smart Agri-Solutions in India by procuring 2500 agri drones as Spray Solutions for Nano Urea &amp; NanoDAP.  IFFCO will also establish 5000 Rural Entrepreneurs for spray solutions. Further, IFFCO procuring 2500 Electric Three Wheelers (loader types) to carry Agri-Drones to the farmers’ fields.</p>
<p>The post <a href="https://newsmantra.in/iffco-forays-into-agri-drones-through-iffco-kisan-drone/">IFFCO forays into Agri-Drones through “IFFCO Kisan Drone</a> appeared first on <a href="https://newsmantra.in">newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu &amp; Kashmir, Trending news | News Mantra</a>.</p>
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		<title>Support needed from all sides for  recovery  RBI</title>
		<link>https://newsmantra.in/support-needed-from-all-sides-for-recovery-rbi/</link>
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		<pubDate>Sat, 19 Jun 2021 09:34:09 +0000</pubDate>
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		<guid isPermaLink="false">https://newsmantra.in/?p=13802</guid>

					<description><![CDATA[<p>Reserve Bank Governor Shaktikanta Das has pitched for policy support from all sides &#8212; fiscal, monetary and sectoral &#8212; to nurture recovery of the economy hit by the second wave of the coronavirus pandemic. The dent on economic activity due to the second wave of the pandemic during April-May necessitated...</p>
<p>The post <a href="https://newsmantra.in/support-needed-from-all-sides-for-recovery-rbi/">Support needed from all sides for  recovery  RBI</a> appeared first on <a href="https://newsmantra.in">newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu &amp; Kashmir, Trending news | News Mantra</a>.</p>
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										<content:encoded><![CDATA[<p>Reserve Bank Governor Shaktikanta Das has pitched for policy support from all sides &#8212; fiscal, monetary and sectoral &#8212; to nurture recovery of the economy hit by the second wave of the coronavirus pandemic.</p>
<p>The dent on economic activity due to the second wave of the pandemic during April-May necessitated continuation of monetary measures to support the process of economic recovery to make it durable, Das had said while participating in the meeting of the Monetary Policy Committee (MPC) earlier in the month.</p>
<p>&#8220;Overall, the second wave of COVID-19 has altered the near-term outlook, and policy support from all sides fiscal, monetary and sectoral is required to nurture recovery and expedite return to normalcy,&#8221; Das said, as per the minutes of the meeting released on Friday.</p>
<p>Going forward, the governor said the pace of vaccination and the speed with which the second wave can be brought under control will have considerable bearing on the evolving growth as well the inflation trajectory.</p>
<p>The Reserve Bank remains committed to undertake pro-active conventional and unconventional measures and to effectively channelling the systemic liquidity to alleviate stress of critical sectors which have borne the brunt of the second wave, he said.</p>
<p>Das, and the other five members of the MPC &#8212; Shashanka Bhide, Ashima Goyal, Jayanth R Varma, Mridul K Saggar and Michael Debabrata Patra &#8212; had voted for keeping the policy repo rate unchanged at 4.0 per cent.</p>
<p>RBI Deputy Governor Patra observed that unlike in the first wave, supply conditions have remained relatively resilient in the second wave, but aggregate demand barring net exports has been dented and needs counter-pandemic policy support.</p>
<p>Even the turnaround in net exports is fragile and heavily dependent on the strength of the vaccination propelled revival in external demand, which may be partially offset by the terms of trade loss on account of the rise in international commodity prices, particularly crude oil, he noted.</p>
<p>Patra further said the MPC has created the necessary conditions for supporting growth by maintaining the policy rate at its lowest level ever</p>
<p>The post <a href="https://newsmantra.in/support-needed-from-all-sides-for-recovery-rbi/">Support needed from all sides for  recovery  RBI</a> appeared first on <a href="https://newsmantra.in">newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu &amp; Kashmir, Trending news | News Mantra</a>.</p>
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		<title>Economic recovery likely to sustain</title>
		<link>https://newsmantra.in/finance-minister-nirmala-sitharaman-has-said-the-current-upturn-in-economic-activity-in-last-two-months-is-not-just-pent-up-demand-and-recovery-is-likely-to-sustain-coming-months/</link>
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		<pubDate>Sat, 05 Dec 2020 06:58:20 +0000</pubDate>
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		<guid isPermaLink="false">https://newsmantra.in/?p=13257</guid>

					<description><![CDATA[<p>Finance minister Nirmala Sitharaman has said the current upturn in economic activity in last two months is not just pent up demand and recovery is likely to sustain coming months. “I am not just sure if just the pent up demand or festival demand will explain consistent more than ₹1 trillion...</p>
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<p>Finance minister Nirmala Sitharaman has said the current upturn in economic activity in last two months is not just pent up demand and recovery is likely to sustain coming months.</p>
<p>“I am not just sure if just the pent up demand or festival demand will explain consistent more than ₹1 trillion collection in GST for two months. Yes, this is the season when festive demand adds a bit more fervor to demand which prevails through in a year, but I also talk to industry leaders like in core sector industries such as cement, iron and steel, who are looking at capacity expansion. It is an indication that additional demand is what is coming in and is likely to sustain,&#8221; Sitharaman said speaking at the Hindustan Times Leadership Summit.</p>
<p>On rising inflation which has forced the central bank to pause its rate cut cycle, Sitharaman said she is not worried about the current high level of inflation as it is seasonal in nature. “Rise in prices in commodities are largely seasonal.</p>
<p>&#8220;Government is very frequently looking at changes and taking conscious calls for imports, and sorting out logistical issues. The blip in inflation will ease out. I don’t see food item inflation continuing,&#8221; she added.</p>
<p>&nbsp;</p>
<p>Asked whether the reluctance by RBI to further cut policy rates puts additional pressure on the government to take more fiscal measures to revive the economy, Sitharaman said it would need delicate, continuous real time balance by both the monetary and fiscal authorities to revive the economy. “Lot of calibration and coordination has to be worked out and we are continuing to do that,&#8221; she added.</p>
<p>The RBI on Friday projected the Indian economy to contract 7.5% in FY21, shallower than 9.5% contraction it projected just two months ago, on the back of a host of lead indicators suggesting sustained economic recovery.</p>
<p>Indian stocks hit fresh highs on Friday after the Reserve Bank of India revised upwards its GDP target for the current fiscal year. The central bank kept the interest rates steady and pledged to ensure adequate liquidity in the system.</p>
<p>Sensex settled at 45,079.55, up 446.90 points or 1.00%, while Nifty climbed 124.65 points or 0.95% to end at 13,258.55.</p>
<p>ICICI Bank, closing over 4% higher, was the top Sensex gainer followed by Ultratech Cement, Sun Pharma, Bharti Airtel and SBI. RIL, Bajaj Finserv, HCL Tech and HDFC were among the laggards. Of 30 Sensex shares, 25 closed in the green.</p>
<p>&nbsp;</p>
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		<title>73 crore push for economy but no consensus on GST</title>
		<link>https://newsmantra.in/73-crore-push-for-economy-but-no-consensus-on-gst/</link>
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		<pubDate>Tue, 13 Oct 2020 05:29:32 +0000</pubDate>
				<category><![CDATA[Political]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[finance]]></category>
		<category><![CDATA[govt]]></category>
		<category><![CDATA[GST]]></category>
		<category><![CDATA[ltc]]></category>
		<category><![CDATA[pkg]]></category>
		<category><![CDATA[sitaraman]]></category>
		<guid isPermaLink="false">https://newsmantra.in/?p=12813</guid>

					<description><![CDATA[<p>73 crore push for economy but no consensus on GST The central government on Monday announced a ₹73,000 crore demand push to the economy but no consensus to break the deadlock between the central government and those of states and UTs over mode of payment of GST compensation, Union Finance Minister...</p>
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]]></description>
										<content:encoded><![CDATA[<p>73 crore push for economy but no consensus on GST</p>
<p>The central government on Monday announced a ₹73,000 crore demand push to the economy but no consensus to break the deadlock between the central government and those of states and UTs over mode of payment of GST compensation, Union Finance Minister Nirmala Sitharaman after another GST Council meeting.</p>
<p>By the end of Monday&#8217;s meeting 12 states had accepted the centre&#8217;s payment proposal &#8211; to borrow from the markets on their own account &#8211; but nine others stood their ground and insisted the centre do the borrowing.</p>
<p>Overall 21 states &#8211; mostly those ruled by the BJP or those that have supported it on various issues &#8211; have agreed to borrow. Ms Sitharaman has asked for time to consider the demands of the nine states who refused to do so after today&#8217;s meeting.</p>
<p>Earlier in the day finance minister announces govt employees LTC CASH scheme and other measures push for economy .</p>
<p>“Measures by the government to stimulate demand must not burden the common citizen with future inflation and must not put government debt on an unsustainable path. Today’s solution should not cause tomorrow’s problem,&#8221; finance minister Nirmala Sitharaman said, explaining the government’s philosophy behind Monday’s measures.</p>
<p>RBI on Friday announced a slew of steps to reduce borrowing costs to revive the economy without cutting policy rates, and also for the first time admitting that the economy will contract 9.5% in this fiscal year with a mild expansion in economic activity in the March quarter.</p>
<p>The government’s announcements to boost consumer demand such as leave travel concession (LTC) cash voucher scheme ( ₹5,675 crore) and special festival advance scheme ( ₹4,000 crore) are mostly frontloading expenditure with balancing offsetting changes later that will directly benefit over 11 million central government employees.</p>
<p>The central government employees who have not availed of LTC in the past four years, including FY21, can utilize the scheme if they agree to digitally spend three times the airfare or rail fare and the full amount of total leave encashment before 31 March on purchases attracting minimum 12% good and services tax (GST).</p>
<p>Under the special festival advance scheme, an interest-free loan of `10,000 to all central government employees will be offered as a one-time facility to be recovered in a maximum of 10 instalments.</p>
<p>The Centre is also encouraging state governments and private organizations to give similar facilities to their employees.</p>
<p>Sitharaman suggested that the government has targeted this well-off category of central government employees to boost demand as they have escaped the adverse economic effects of the pandemic with their salaries more or less protected and savings increased.</p>
<p>&nbsp;</p>
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		<title>India&#8217;s GDP slips by 23.9 %</title>
		<link>https://newsmantra.in/indias-gdp-slips-by-23-9/</link>
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		<pubDate>Tue, 01 Sep 2020 08:55:40 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[GDP]]></category>
		<category><![CDATA[GOVERNMENT]]></category>
		<category><![CDATA[INDIA]]></category>
		<category><![CDATA[SLIPS]]></category>
		<guid isPermaLink="false">https://newsmantra.in/?p=12422</guid>

					<description><![CDATA[<p>India&#8217;s gross domestic product or GDP slips 23.9 per cent in the April-June period &#8211; much worse than economists&#8217; estimates, official data showed .That marked the worst incidence of negative growth for the economy . Meanwhile govt released tax collection data shows sharp decline in govt income which will have...</p>
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]]></description>
										<content:encoded><![CDATA[<p>India&#8217;s gross domestic product or GDP slips 23.9 per cent in the April-June period &#8211; much worse than economists&#8217; estimates, official data showed .That marked the worst incidence of negative growth for the economy .</p>
<p>Meanwhile govt released tax collection data shows sharp decline in govt income which will have more pressure on treasury. Data shows The Government of India has received Rs. 2,32,860 crore (10.4% of corresponding BE 2020-21 of Total Receipts) upto July, 2020 comprising Rs. 2,02,788 crore Tax Revenue (Net to Centre), Rs. 24,614 crore of Non Tax Revenue and Rs.5,458 crore of Non Debt Capital Receipts. Non Debt Capital Receipts consists of Recovery of Loans (Rs. 5,455 crore) and Disinvestment proceeds (Rs. 3 crore)</p>
<p>Rs. 1,76,009 crore has been transferred to State Governments as Devolution of Share of Taxes by Government of India upto this period which is Rs. 23,903 crore lower than the previous year.</p>
<p>Total Expenditure incurred by Government of India is Rs. 10,54,209 crore (34.65% of corresponding BE 2020-21), out of which Rs. 9,42,360 crore is on Revenue Account and Rs. 1,11,849 crore is on Capital Account. Out of the Total Revenue Expenditure, Rs.1,98,584 crore is on account of Interest Payments and Rs.1,04,638 crore is on account of Major Subsidies.</p>
<p>Govt data marks the likely onset of India&#8217;s deepest recession on record, which is widely expected to run through the second half of the fiscal year, as the rapid spread of the pandemic continues to weigh on demand, hindering a pickup in economic activity. Typically, recession is defined as two consecutive quarters of decreasing GDP.</p>
<p>In financial services &#8211; the biggest component of the country&#8217;s services sector, GDP shrank 5.3 per cent compared to the corresponding period a year ago. In manufacturing and construction, it fell 39.3 per cent and 50.3 per cent respectively. Agriculture bucked the trend, with an expansion of 3.4 per cent.</p>
<p>Though the coronavirus-related restrictions have been gradually lifted, there has been an impact on the economic activities as well as on the data collection mechanisms, the government&#8217;s statistics office said. Challenges related to other underlying macroeconomic indicators such as industrial production and consumer inflation will also have implications on these estimates, it said, mentioning likely revisions &#8220;in due course&#8221;.</p>
<p>The data comes as the government is strategically removing restrictions imposed in March to curb COVID-19 infections, which have caused thousands of job losses and forced the majority of workforce to stay indoors, leading to a big blow to an already-slowing economy.</p>
<p>Chief Economic Adviser Krishnamurthy Subramanian said, &#8220;India was in a lockdown all through April to June quarter with majority of economic activities being restricted. So this trend is along expected lines&#8230; Core sector output is clearly showing a V-shaped recovery.&#8221;</p>
<p>COVID-19 is spreading faster in India than anywhere else in the world, as daily tallies have exceeded those of the US and Brazil for almost two weeks. India currently has more than 3.54 million cases, and 63,498 deaths.</p>
<p>The post <a href="https://newsmantra.in/indias-gdp-slips-by-23-9/">India&#8217;s GDP slips by 23.9 %</a> appeared first on <a href="https://newsmantra.in">newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu &amp; Kashmir, Trending news | News Mantra</a>.</p>
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		<title>Agriculture is the foundation of the Indian economy</title>
		<link>https://newsmantra.in/agriculture-is-the-foundation-of-the-indian-economy/</link>
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		<pubDate>Mon, 10 Aug 2020 09:53:11 +0000</pubDate>
				<category><![CDATA[Mantra View]]></category>
		<category><![CDATA[AGRICULTURE]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[farming]]></category>
		<category><![CDATA[GOVERNMENT]]></category>
		<category><![CDATA[INDIA]]></category>
		<category><![CDATA[lockdown]]></category>
		<category><![CDATA[MAHARASHTRA]]></category>
		<category><![CDATA[Mantra]]></category>
		<category><![CDATA[mumbai]]></category>
		<category><![CDATA[Narendra Modi]]></category>
		<category><![CDATA[PRIME MINISTER]]></category>
		<guid isPermaLink="false">https://newsmantra.in/?p=12182</guid>

					<description><![CDATA[<p>Prime Minister Shri Narendra Modi launched a new Central Sector Scheme of financing facility under the Agriculture Infrastructure Fund of Rs. 1 Lakh Crore. The scheme will support farmers, PACS, FPOs, Agri-entrepreneurs, etc. in building community farming assets and post-harvest agriculture infrastructure. These assets will enable farmers to get greater...</p>
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]]></description>
										<content:encoded><![CDATA[<p>Prime Minister Shri Narendra Modi launched a new Central Sector Scheme of financing facility under the Agriculture Infrastructure Fund of Rs. 1 Lakh Crore. The scheme will support farmers, PACS, FPOs, Agri-entrepreneurs, etc. in building community farming assets and post-harvest agriculture infrastructure. These assets will enable farmers to get greater value for their produce as they will be able to store and sell at higher prices, reduce wastage, and increase processing and value addition.</p>
<p>Today, only 30 days after Cabinet formally approved the scheme, the first sanction of over Rs. 1000 Crore was made to over 2,280 farmer societies. The event was conducted through video conference and was attended by lakhs of farmers, FPOs, cooperatives, PACS, and citizens joining from across the country.</p>
<p>At the same event, the Prime Minister also released the 6th installment under the PM-KISAN scheme of Rs. 17,000 Crore to nearly 8.5 Crore farmers. The cash benefit was transferred directly to their Aadhaar verified bank accounts with the press of a button. With this transfer, the scheme has provided over 90,000 Crore in the hands of more than 10 Crore farmers since its launch on 01 December 2018.<br />
Interaction with Primary Agriculture Credit Societies</p>
<p>Prime Minister interacted virtually with 3 Primary Agriculture Credit Societies from Karnataka, Gujarat, and Madhya Pradesh who are among the initial beneficiaries of the scheme. Prime Minister had an engaging discussion with the representatives of these societies to understand their current operations and how they plan to utilise the loan. The societies informed the Prime Minister about their plans to build godowns, setup grading and sorting units which will help member farmers secure a higher price for their produce.<br />
Address to the nation</p>
<p>Following his interaction with the Primary Agriculture Credit Societies, in his address to the nation, the Prime Minister expressed confidence in how farmers and the agriculture sector will benefit from the scheme. He said the scheme shall provide a financial boost to the farmers and agriculture sector and increase India’s ability to compete on the global stage.</p>
<p>Prime Minister reiterated that India has a huge opportunity to invest in post-harvest management solutions like warehousing, cold chain, and food processing, and build a global presence in areas such as organic and fortified foods. He also mentioned that this scheme provides a good opportunity for start-ups in agriculture to avail the benefits and scale their operations, thereby creating an ecosystem that reaches farmers in every corner of the country.</p>
<p>Prime Minister expressed his satisfaction with the pace of implementation of the PM-KISAN scheme. He also noted that the scale of the program is so large that the funds released today have reached more people than the entire population of several countries taken together. He also congratulated states for playing an important role in the implementation and assisting farmers through the entire process from registration all the way to disbursals.</p>
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		<title>Credit Facility covers all companies</title>
		<link>https://newsmantra.in/credit-facility-covers-all-companies/</link>
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		<pubDate>Tue, 09 Jun 2020 08:49:10 +0000</pubDate>
				<category><![CDATA[Political]]></category>
		<category><![CDATA[corona virus]]></category>
		<category><![CDATA[coronavirus]]></category>
		<category><![CDATA[covid-19]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[FICCI]]></category>
		<category><![CDATA[FINANVCE MNISTER]]></category>
		<category><![CDATA[GOVERNMENT]]></category>
		<category><![CDATA[MSME]]></category>
		<category><![CDATA[nirmala sitharaman]]></category>
		<guid isPermaLink="false">https://newsmantra.in/?p=11400</guid>

					<description><![CDATA[<p>Union Minister for Finance and Corporate Affairs Smt Nirmala Sitharaman today said that the COVID Emergency Credit Facility covers all companies and not just MSMEs. Addressing the FICCI National Executive Committee members, Smt Sitharaman assured the industry of all possible Government support with the intent of supporting Indian business and...</p>
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]]></description>
										<content:encoded><![CDATA[<p>Union Minister for Finance and Corporate Affairs Smt Nirmala Sitharaman today said that the COVID Emergency Credit Facility covers all companies and not just MSMEs. Addressing the FICCI National Executive Committee members, Smt Sitharaman assured the industry of all possible Government support with the intent of supporting Indian business and reviving the economy, and said, “We are committed to support/intervene if any of your members have a problem”.</p>
<p>On the question of liquidity, the Finance Minister said, “We have fairly clearly addressed the issue of liquidity. There is definitely the availability of the liquidity. We will look into it if there are still issues.” Smt Sitharaman also said that every Government department has been told to clear dues and if there is any issue with any department, the government will look into it.</p>
<p>The Finance Minister also said that the Government will consider an extension in the deadline for availing the 15% corporate tax rate on new investments. “I will see what can be done. We want industry to benefit from the 15% corporate tax rate on new investments and I take your point for considering an extension in the deadline of 31st March, 2023,” Smt Sitharaman said.</p>
<p>The Finance minister suggested the industry to submit their recommendations related to the ministry of corporate affairs or SEBI deadlines so that necessary steps could be taken.</p>
<p>With regard to the need for reduction in GST rates in the badly affected sectors, She said, “GST rate reduction will go to the Council. But the council is also looking for revenue. The decision for reduction in rate for any sector has to be taken by the Council&#8221;.</p>
<p>Finance and Revenue Secretary Mr Ajay Bhushan Pandey informed FICCI members that Income Tax Refund to the corporates have also started and I-T refunds to the tune of Rs 35,000 crore have been issued in the last few weeks.</p>
<p>The meeting was also attended by the Secretary Expenditure Mr T V Somanathan , Economic Affairs Secretary Mr Tarun Bajaj, Corporate Affairs Secretary Mr Rajesh Verma , Department of Financial Services Secretary Mr Debasish Panda and Chief Economic Advisor Dr K V Subramanian.</p>
<p>FICCI President Dr Sangita Reddy informed the Finance Minister that the chamber is in constant touch with different government departments to support the implementation of the measures announced to deal with the COVID-19 impact. “FICCI is committed to the common goal of Atmanirbhar Bharat and working with the government in enhancing implementation,” Dr Reddy added.</p>
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		<title>Foreign Investors Pull Out $16 Billion</title>
		<link>https://newsmantra.in/foreign-investors-pull-out-16-billion/</link>
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		<pubDate>Wed, 20 May 2020 07:47:01 +0000</pubDate>
				<category><![CDATA[Govt. Mantra]]></category>
		<category><![CDATA[BILLION]]></category>
		<category><![CDATA[china]]></category>
		<category><![CDATA[corona virus]]></category>
		<category><![CDATA[covid-19]]></category>
		<category><![CDATA[death]]></category>
		<category><![CDATA[disease]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[FISCAL GROWTH]]></category>
		<category><![CDATA[FOREIGN INVESTORS]]></category>
		<category><![CDATA[GDP]]></category>
		<category><![CDATA[GOVERNMENT]]></category>
		<category><![CDATA[lockdown]]></category>
		<guid isPermaLink="false">https://newsmantra.in/?p=11206</guid>

					<description><![CDATA[<p>The foreign investors have pulled out an estimated $26 billion from developing Asian economies and over $16 billion out of India, a latest Congressional report has said. &#8220;Foreign investors have pulled an estimated $26 billion out of developing Asian economies and more than $16 billion out of India, increasing concerns...</p>
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]]></description>
										<content:encoded><![CDATA[<p>The foreign investors have pulled out an estimated $26 billion from developing Asian economies and over $16 billion out of India, a latest Congressional report has said.</p>
<p>&#8220;Foreign investors have pulled an estimated $26 billion out of developing Asian economies and more than $16 billion out of India, increasing concerns of a major economic recession in Asia,&#8221; independent Congressional Research Center said in its latest report on global economic effects of COVID-19.</p>
<p>In Europe, over 30 million people in Germany, France, the UK, Spain, and Italy have applied for state support, while first quarter 2020 data indicates that the eurozone economy contracted by 3.8 per cent, the largest quarterly decline since the series started in 1995, it said.</p>
<p>In the US, preliminary data indicated that the GDP fell by 4.8 per cent in the first quarter of 2020, the largest quarterly decline since the fourth quarter of 2008 during the global financial crisis, the CRS said.</p>
<p>According to CRS, the pandemic crisis is challenging governments to implement monetary and fiscal policies that support credit markets and sustain economic activity, while they are implementing policies to develop vaccines and safeguard their citizens.</p>
<p>In doing so, however, differences in policy approaches are straining relations between countries that promote nationalism and those that argue for a coordinated international response.</p>
<p>Differences in policies are also straining relations between developed and developing economies and between northern and southern members of the eurozone, challenging alliances, and raising questions about the future of global leadership, the report said.</p>
<p>While almost all major economies are shrinking as a result of coronavirus, only three countries China, India, and Indonesia are projected to experience small, but positive rates of economic growth in 2020, it said.</p>
<p>The IMF in its recent report argued that recovery of the global economy could be weaker than projected as a result of lingering uncertainty about possible contagion, lack of confidence, and permanent closure of businesses and shifts in the behaviour of firms and household, the CRS said.</p>
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		<title>KEY HIGHLIGHTS OF UNION BUDGET 2020-21</title>
		<link>https://newsmantra.in/key-highlights-of-union-budget-2020-21/</link>
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		<pubDate>Sat, 01 Feb 2020 10:22:11 +0000</pubDate>
				<category><![CDATA[News Mantra: Exclusive]]></category>
		<category><![CDATA[Budget]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[FINANCE MINISTER]]></category>
		<category><![CDATA[highlights]]></category>
		<category><![CDATA[nirmala sitharam]]></category>
		<guid isPermaLink="false">https://newsmantra.in/?p=9880</guid>

					<description><![CDATA[<p>Presenting the first Union Budget of the third decade of 21st century, Finance Minister Smt. Nirmala Sitharaman, today unveiled a series of far-reaching reforms, aimed at energizing the Indian economy through a combination of short-term, medium-term, and long-term measures. The Key Highlights of Union Budget 2020-21 are as follows: Three prominent...</p>
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]]></description>
										<content:encoded><![CDATA[<p><strong>Presenting the first Union Budget of the third decade of 21<sup>st</sup> century, Finance Minister Smt. Nirmala Sitharaman, today unveiled a series of far-reaching reforms, aimed at energizing the Indian economy through a combination of short-term, medium-term, and long-term measures.</strong></p>
<p>The Key Highlights of Union Budget 2020-21 are as follows:</p>
<p><strong>Three prominent themes of the Budget</strong></p>
<ul>
<li><strong><em>Aspirational India</em></strong> &#8211; better standards of living with access to health, education and better jobs for all sections of the society</li>
<li><strong><em>Economic Development for all</em></strong><em> </em>&#8211; “Sabka Saath , Sabka Vikas , Sabka Vishwas”.</li>
<li><strong><em>Caring Society</em></strong><em> </em>&#8211; both humane and compassionate; Antyodaya as an article of faith.</li>
<li>Three broad themes are held together by:
<ul>
<li>Corruption free, policy-driven <em>Good Governance.</em></li>
<li>Clean and sound <em>financial sector.</em></li>
</ul>
</li>
<li><strong><em>Ease of Living</em></strong> underlined by the three themes of Union Budget 2020-21.</li>
</ul>
<p><strong>Three components of Aspirational India</strong></p>
<ul>
<li>Agriculture, Irrigation, and Rural Development</li>
<li>Wellness, Water, and Sanitation</li>
<li>Education and Skills</li>
</ul>
<p><strong>Sixteen Action Points for Agriculture, Irrigation and Rural Development</strong></p>
<ul>
<li>Rs. 2.83 lakh crore to be allocated for the following 16 Action Points:
<ul>
<li>Rs. 1.60 lakh crore for Agriculture, Irrigation &amp; allied activities.</li>
<li>Rs. 1.23 lakh crore for Rural development &amp; Panchayati Raj.                          &#8211;</li>
</ul>
</li>
<li>Agriculture credit:
<ul>
<li>Rs. 15 lakh crore target set for the year 2020-21.</li>
<li>PM-KISAN beneficiaries to be covered under the KCC scheme.</li>
<li>NABARD Re-finance Scheme to be further expanded.</li>
</ul>
</li>
<li>Comprehensive measures for 100 water-stressed districts proposed.</li>
<li><strong><em>Blue Economy</em></strong>:
<ul>
<li>Rs. 1 lakh crore fisheries’ exports to be achieved by 2024-25.</li>
<li>200 lakh tonnes fish production targeted by 2022-23.</li>
<li>3477 <em>Sagar Mitras</em> and 500 Fish Farmer Producer Organisations to involve youth in fisheries extension.</li>
<li>Growing of algae, sea-weed and cage culture to be promoted.</li>
<li>Framework for development, management and conservation of marine fishery resources.</li>
</ul>
</li>
<li><strong><em>Kisan Rail</em></strong> to be setup by Indian Railways through PPP:
<ul>
<li>To build a seamless national cold supply chain for perishables (milk, meat, fish, etc.</li>
<li>Express and Freight trains to have refrigerated coaches.</li>
</ul>
</li>
<li><strong><em>Krishi Udaan</em></strong> to be launched by the Ministry of Civil Aviation:
<ul>
<li>Both international and national routes to be covered.</li>
<li>North-East and tribal districts to realize Improved value of agri-products.</li>
</ul>
</li>
<li><strong><em>One-Product One-District</em></strong><em> </em>for<em> </em>better marketing and export in the Horticulture sector.</li>
<li>Balanced use of all kinds of fertilizers &#8211; traditional organic and innovative fertilizers.</li>
<li>Measures for organic, natural, and integrated farming:
<ul>
<li><strong><em>Jaivik Kheti</em></strong> Portal – online national organic products market to be strengthened.</li>
<li><strong><em>Zero-Budget Natural Farming</em></strong><em> </em>(mentioned in July 2019 Budget) to be included.</li>
</ul>
</li>
</ul>
<p>o <em>Integrated Farming Systems </em>in rain-fed areas to be expanded.</p>
<p>o Multi-tier cropping, bee-keeping, solar pumps, solar energy production in non-cropping season to be added.</p>
<ul>
<li><strong><em>PM-KUSUM</em></strong> to be expanded:
<ul>
<li>20 lakh farmers to be provided for setting up stand-alone solar pumps.</li>
<li>Another 15 lakh farmers to be helped to solarise their grid-connected pump sets.</li>
<li>Scheme to enable farmers to set up solar power generation capacity on their fallow/barren lands and to sell it to the grid.</li>
</ul>
</li>
<li><strong><em>Village Storage Scheme</em></strong>:
<ul>
<li>To be run by the SHGs to provide farmers a good holding capacity and reduce their logistics cost.</li>
<li>Women, SHGs to regain their position as <strong><em>Dhaanya Lakshmi</em></strong>.</li>
</ul>
</li>
<li>NABARD to map and geo-tag agri-warehouses, cold storages, reefer van facilities, etc.</li>
<li>Warehousing in line with Warehouse Development and Regulatory Authority (WDRA) norms:
<ul>
<li>Viability Gap Funding for setting up such efficient warehouses at the block/taluk level.</li>
<li>Food Corporation of India (FCI) and Central Warehousing Corporation (CWC) to undertake such warehouse building.</li>
</ul>
</li>
<li>Financing on Negotiable Warehousing Receipts (e-NWR) to be integrated with e-NAM.</li>
<li>State governments who undertake implementation of model laws (issued by the Central government) to be encouraged.</li>
<li>Livestock:
<ul>
<li>Doubling of milk processing capacity to 108 million MT from 53.5 million MT by 2025.</li>
<li>Artificial insemination to be increased to 70% from the present 30%.</li>
<li>MNREGS to be dovetailed to develop fodder farms.</li>
<li>Foot and Mouth Disease, Brucellosis in cattle and Peste Des Petits ruminants (PPR) in sheep and goat to be eliminated by 2025.</li>
</ul>
</li>
<li><strong><em>Deen Dayal Antyodaya Yojana</em></strong> – 0.5 crore households mobilized with 58 lakh SHGs for poverty alleviation.</li>
</ul>
<p>The post <a href="https://newsmantra.in/key-highlights-of-union-budget-2020-21/">KEY HIGHLIGHTS OF UNION BUDGET 2020-21</a> appeared first on <a href="https://newsmantra.in">newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu &amp; Kashmir, Trending news | News Mantra</a>.</p>
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