Economy

Industries, others get over Rs3,000 subsidy under Gujarat Atmanirbhar package

The state government’s Gujarat Aatmanirbhar package worth Rs 14,000 crore provides Rs Rs 3,038 crore worth of subsidies to industries among others. This includes Rs 458 crore allocation exclusively for industrial units that operate in estates of Gujarat Industrial Development Corporation (GIDC). A Rs 1,000 crore subsidy has been given to the housing sector under...

Govt gives Rs2,300 cr worth of partial tax waiver under Gujarat Atmanirbhar Package

Partial waving off property tax, electricity bill and motor vehicle tax for individuals and others are part of the Gujarat government’s Gujarat Aatmanirbhar package worth Rs 14,000 crore announced on Thursday. The package is aimed at helping individuals, industries and businesses recover from the pandemic related lockdown and its impact. In all the partial waiver...

No new govt schemes for a year, says finance ministry

The finance ministry has said that no new government schemes will start for a year. The move is aimed at tightening the purse strings as the government battles drop in revenues due to the slump in economy following the lockdownd to contain the spread of COVID19 in the country. The ministry said that all departments...

Former FM Chidambaram asks Sitharaman, Gadkari to settle their accounts first

Former finance minister P Chidambaram on Friday asked BJP’s Nirmala Sitharaman and Nitin Gadkari to settle their own accounts first. The tweet came as a jibe at the solutions the two ministers have proposed for the problems faced by MSMEs in the country. “Minister Gadkari says that governments and PSUs owe Rs 5 lakh crore...

MSMEs to get Rs3 lakh crore collateral-free loans under Modi’s economic package

Finance Minister Nirmala Sitharaman on Wednesday announced collateral free automatic loan for businesses including MSMEs up to Rs 3 lakh crore. Announcing the scheme as part of Modi’s Rs20 lakh crore economic package for the country, she said that borrowers with up to Rs 25 crore outstanding and Rs 100 crore turnover would be eligible...

Economic package: FM Nirmala Sitharaman to address media at 4

Details of the economic package announced by Prime Minister Narendra Modi on Tuesday will be shared by union Finance Minister Nirmala Sitharaman at a press meet at 4 pm on Wednesday. Modi, during his speech, had announced a special economic package of Rs20 lakh crore for the country. This he said was aimed at making...

Rahul Gandhi warns of calamity if decision-making not decentralised

Congress leader Rahul Gandhi has sought to know from the Centre how it plans to open the economy post the nationwide lockdown and also warned of a calamity in store if decisions were not decentralised. Gandhi also demanded more transparency in the Centre’s handling of the pandemic in the nation. At an online press meet,...

Maruti opens 600 dealerships across India, begins home delivery of cars

Maruti Suzuki, the largest carmaker in the country has re-opened 600 dealerships that had been closed due to the coronavirus and the resultant lockdown. It has also started home-delivery of vehicles. The automaker has also set up a digital infrastructure to allow for potential customers to buy cars, media reports said. A news agency quoted...

Industry can open shop in Junagadh, Jamnagar; no relaxation for A’bad, Surat Vadodara

Ahmedabad, Surat, Vadodara, Gandhinagar and Bhavnagar which have recorded some of the highest Covid19 cases in Gujarat will not get any relaxation of any sort for the next two weeks when the lockdown is in force. The Gujarat government on Sunday in an online briefing made several announcements about the relaxation of lockdowns and business...

Forego two-month electricity, water bill for farmers in state, Cong MLA tells Guj govt

Tharad MLA Gulabsinh Rajput on Saturday sought relaxation in electricity bills for farmers and others in the state. In a letter addressed to chief minister Vijay Rupani, Rajput a Congress MLA said that the lockdown and the further extension of it has severely impacted the farmers, salaried class and the labourers with all of them...

Coronavirus scare: RBI announces safeguard measures for Indian economy

Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday announced measures to safeguard the Indian economy amid meltdown over coronavirus outbreak concerns. The central bank chief said that the RBI has proposed to conduct another six months USD sell/buy swap on March 23 to provide liquidity to markets. “To further improve monetary transmission RBI...