Tag: Aatmanirbhar Bharat

2024 battle royal: ‘Modi Ki Guarantee’ vs Cong’s Nyay guarantees of Congress

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Promises galore during poll season and the Lok Sabha elections would be no different with ‘guarantees’ from various political parties set to compete during the high-decibel campaign.

Elections are often won or lost on narratives and it is the issues that connect on the ground which decide the fate of the political parties.

Here is a look at the 10 key issues that are likely to be talked about during the poll campaign by various political parties:–

Modi Ki Guarantee: Prime Minister Narendra Modi, who is brimming with confidence for bagging a third term, has pitched ‘Modi Ki Guarantee’ as the main theme of his campaign. ‘Modi Ki Guarantee’, as described on the PM’s website, is a guarantee for the development of the youth, empowerment of the women, the welfare of the farmers, and all those marginalised and vulnerable who have been ignored for decades. The idea is also about the government’s aim of ensuring the saturation of all welfare schemes. It is likely to be the ‘catchphrase’ in this election around which much of the war of words between rivals would gravitate.

Congress’ Nyay guarantees: The grand old party found its mojo back to some extent in the state elections of Himachal Pradesh, Karnataka and Telangana when it pitched guarantees to the people that clicked electorally. Now for the Lok Sabha polls, the party has strongly pitched for its 5 ‘Nyay’ guarantees aimed at ensuring justice for youth, farmers, women, and labourers, as well as participatory justice. The ‘Nyay’ guarantees have been presented before the people during the Manipur to Mumbai Rahul Gandhi-led Bharat Jodo Nyay Yatra. The Congress’ manifesto is likely to be framed around these guarantees and the party would design its campaign around them. Whether it will result in the party’s electoral resurgence, only time will tell.

 Unemployment and price rise: The INDIA bloc, including the Congress, has been raising the issue of unemployment and rising prices of essential commodities. They have stated repeatedly that the lack of jobs is the single biggest issue and have sought to corner the government over the issue. The BJP has hit back citing job growth and a fast-growing economy.

The poll season would see intensifying debate over these bread-and-butter issues.

Abrogation of Article 370, CAA and Uniform Civil Code: These have been part of the BJP’s longstanding promises to the people. The BJP has and will continue to project its achievement of implementation of the Citizenship (Amendment) Act, 2019, and the abrogation of Article 370 for Jammu and Kashmir. The party’s government has also passed a law on the uniform civil code in Uttarakhand as a precursor to its objective of devising such a law nationally. The Modi government has projected these actions to assert that it believes in the mantra of ‘walking the talk’. The opposition has slammed these moves as attempts to create, divide and impose uniformity. The debate on these issues is likely to get sharper and more aggressive in the poll season.

Ram Mandir: The January 22 consecration ceremony at the Ram Mandir in Ayodhya was marked by the BJP with tremendous enthusiasm. The symbolism of Prime Minister Narendra Modi leading the ceremony and RSS chief Mohan Bhagwat along with Uttar Pradesh Chief Minister Yogi Adityanath being at the forefront during the ceremony was not lost on anybody. The BJP leaders have credited the prime minister for making a centuries-old dream come true. With saffron flags fluttering in most parts of the Hindi-speaking belt to mark the occasion, the impact of this can be felt by everyone. Even the opposition leaders concede that the Ram Mandir has given the BJP an advantage in northern India. Analysts believe that much of the BJP’s confidence in getting at least 370 seats stems from this ‘Ram temple wave’.

 Electoral Bonds Data: The Election Commission has made the data on electoral bonds public. The Congress has demanded a high-level probe by the Supreme Court against the ruling BJP and the freezing of its bank accounts for alleged corruption in the electoral bonds scheme. The issue has come to the fore right before the polls and the opposition has seized on it but whether it will work at the grassroots level or not is still to be seen. It would, however, certainly be one of the talking points during the campaign.

‘Amrit Kaal’ versus ‘Anyay Kaal’: Another likely recurrent campaign theme during the poll season would be the BJP’s assertion that the Modi dispensation assured good governance, fast-paced growth and a vision for the future. The Congress, on the other hand, has dubbed the 10 years of the Modi government as ‘anyay kaal’ marked by “unemployment, rising prices, the capture of institutions, attack on the Constitution, and rising economic inequalities”. While the opposition INDIA bloc is likely to highlight the government’s ‘failures’ to claim that the last 10 years have been about the show over substance, the BJP would counter it with arguments such as tiding over the pandemic, reducing poverty, free ration scheme and other welfare measures for the poor.

Farmers’ issues and legal guarantee of MSP: The farmers’ agitation at the borders of Delhi just ahead of polls is also likely to dominate the discourse with the opposition alleging that the tillers had been ‘betrayed’ by the government and promising to provide legal guarantee for MSP if its bloc comes to power. The BJP leaders have been holding talks with farmer leaders to assuage their concerns and have been alleging that many of the agitators were politically motivated. The government has also stressed how its PM-KISAN scheme aid has transformed the lives of tillers. As with most elections, farmers’ issues would be critical to the discourse.

Clash of ideologies: This election also marks a crucial phase in what many call the ‘battle of ideologies’ between the BJP and Congress.

Both parties would present their ideological principles before the people and ask them to choose one.

Viksit Bharat vision: Prime Minister Narendra Modi has asserted that the goal of the country is to become a developed nation. He has stated that his government’s actions are committed to achieving the goal by 2047. The vision for a Viksit Bharat is likely to dominate the BJP’s campaign while the opposition has been dubbing it as ‘another jumla’. However, it would remain a dominant theme during the campaign.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Indian government aims for even more ambitious $77 billion spending in defence sector, says Paras Defence

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Amit Mahajan, the Director-Technical & R&D at Paras Defence and Space Tech, expressed optimism about the Indian government’s commitment to boosting the nation’s defence capabilities, in a recent interview with CNBC-TV18. Mahajan disclosed that the government could be planning to allocate an even more substantial budget of $77 billion to the defence sector, emphasising the tremendous opportunities this presents for Indian industries.

Mahajan said, “There is a big thrust given on the development part where we are doing complete development all by ourselves. The $77 billion value will be conservative, not aggressive at all.”

Also Read | CNBC-TV18 Exclusive: Defence capital spending set to get a boost, new policy for emerging technology on the cards

He further said that this presents a massive opportunity for Indian companies, particularly for those with a focus on Indigenous Design and Development Manufacturing (IDDM), where Paras Defence has a distinguished track record spanning several decades.

“We have been an IDDM company for the last so many decades. All those companies which have been IDDM will benefit largely from these initiatives,” Mahajan added, underscoring the potential windfall for domestic companies involved in defence manufacturing.

Expressing confidence in the trajectory of the defence sector, Mahajan stated, “Defence as a space is going to do well, looking at all the indigenization policies, Make In India, and Aatmanirbhar Bharat initiatives by the government.” He predicted that this growth momentum would persist for the next 5-10 years, driven by the government’s strategic focus on indigenous development and manufacturing.

Also Read | Hindustan Aeronautics shares cross ₹2 lakh crore in market cap after UBS projects 23% upside

Anticipating strong revenue and profit growth, Mahajan confidently asserted, “We are confident of exhibiting strong revenue and profit growth.”

Commenting on India’s defence budget in comparison to global peers, Mahajan acknowledged the need for an increase to secure borders effectively. He pointed out, “A lot of countries have a much higher defence budget than we do, but we need to up that.”

Paras Defence, aiming for niche areas, has set a growth target of 40% for FY24.

When asked about the segments driving this growth, Mahajan detailed, “About 50% would be coming in from optics and optronics systems, and 50% from defence engineering, which covers defence electronics, electromagnetic pulse, and heavy engineering.”

Also Read | Paras Defence subsidiary gets DCGA nod to sell agricultural drones

Paras Defence and Space Tech, headquartered in Nerul, Navi Mumbai, India, currently boasts a market capitalization of Rs 3,076 crore, positioning itself as a key player in India’s rapidly evolving defence landscape. With the government’s increased focus on defence and indigenous manufacturing, the company is poised for significant expansion and success in the coming years.

For more, watch the accompanying video

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India may meet Modi’s defence production target sooner than expected

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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On FY24 targets, the defence secretary said: “I am fervently hoping that our production this financial year will cross ₹1.5 lakh crore and may even inch up higher if exports offer a better opportunity. Largely ₹1.75 lakh crore will be a very ambitious target, but I don’t think the Indian industry will fail me on this ambition.” He underlined that 45% of new orders are likely to go to the private sector.

Months before achieving ₹1,06,800 crore in defence production, India had set a target to achieve production worth ₹1.75 lakh crore in aerospace and defence goods and services by FY25. This target includes achieving defence exports worth ₹35,000 crore. 

Sharing a break-up, Aramane said India is likely to achieve a set target of ₹20,000 crore in defence exports this financial year, “if everything goes well”. The defence exports in FY23 were at ₹16,000 crore.

Here is a look at defence production targets and achievements:

Aramane said the ₹20,000 crore export target seems reasonable and underlined that India “doesn’t supply to conflict zones”.

Defence Minister Rajnath Singh has been exhorting defence public sector undertakings to develop/adopt to latest technologies to make India a global defence manufacturing hub and achieve Prime Minister Narendra Modi’s vision of Aatmanirbhar Bharat. Singh has also stressed the need to increase India’s defence market share across the globe.

During the conversation with CNBC-TV18, defence secretary Aramane said private companies, too, were picking up in a major way.

“They (private companies) are supplying to major multinational companies such as Boeing and Lockheed Martin, among others. I hope that they will be able to contribute at least 40% of this year’s exports,” he said.

Sharing an example of how low-cost drones can neutralise submarines, fighter jets and warships as has been witnessed in recent wars, Aramane said India would soon unveil a scheme to encourage the private sector to develop emerging defence technologies.

“There is a need to strengthen defence with the cheapest possible solutions. We need the private sector and new age companies to work on drones, UAVs, electronic warfare, improve air defence and ground mobility,” he said.

Also Read: India not to rush with BEML divestment, will wait for an opportune moment: Defence secretary

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

BEL anticipates over ₹25,000 crore order inflow in FY24

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Bhanu Prakash Srivastava, the Chairman and Managing Director of Bharat Electronics Limited (BEL), expects order inflow for financial year 2024 to cross the ₹25,000-crore mark. As of now, the order book stands at around ₹23,200 crore order book.

Srivastava said the defence and aerospace major’s order for Early Warning (EW) system for ships, which is around ₹2,000 crore, is expected to fructify this financial year.

On December 15, the Bengaluru-based BEL also signed a significant contract with the Ministry of Defence for the procurement of electronic fuses for the Indian Army. The 10-year contract, valued at ₹5,336.25 crore, aligns with the ‘Aatmanirbhar Bharat’ vision and falls under the government’s initiative for the ‘Manufacture of Ammunition for Indian Army by Indian Industry.’

The project aims to build ammunition stocks, minimise imports, achieve self-sufficiency in ammunition manufacturing, obtain critical technologies, and secure stock affected by supply chain disruptions.

The strong order book has reflected in the company’s stock performance. Shares of BEL have gained over 70% year-to-date.

For more, watch the accompanying video

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India to buy 5 indigenous fleet support ships in Rs 19,000-crore deal with Hindustan Shipyard

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In a significant step towards bolstering self-reliance in defence manufacturing, India on Friday (August 25) signed a contract with Hindustan Shipyard Ltd (HSL), Visakhapatnam.

The contract involves the acquisition of five fleet support ships for the Indian Navy at a total cost of approximately Rs 19,000 crore. The Cabinet Committee on Security had approved the acquisition of these ships during its meeting on August 16, 2023.

These vessels, the first-of-their-kind to be built in India, will play a pivotal role in extending the strategic reach and mobility of the Indian naval fleet.

The primary function of the fleet support ships is to provide replenishment to naval vessels at sea, ensuring they are well-equipped with fuel, water, ammunition, and stores. This capability enables the Indian Navy’s fleet to operate for extended durations without needing to return to port.

Also Read: BEML expects defence revenue to reach Rs 4,500-5,000 crore in 4-5 years

Beyond their strategic significance, these ships will also be instrumental in humanitarian assistance and disaster relief operations and can be deployed for evacuation during crises.

This landmark project is set to generate substantial employment opportunities, contributing nearly 168.8 lakh mandays of work over an eight-year period.

With a significant portion of the equipment and systems sourced domestically, these fleet support ships epitomise the Aatmanirbhar Bharat initiative and align seamlessly with the Make in India campaign of the government.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Deep strength, Make in India & an Atmanirbhar Bharat key for India’s economic future: EAM S Jaishankar

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India’s ranking in various global economic and commercial metrics may have improved significantly in the past few years, but it’s time to really put the foot on the gas if India is to remain one of the fastest growing economies in the world and achieve the $5 trillion economy target by 2025. And the way to do that is to increase focus on making India a manufacturing super-power. That’s the word coming in from External Affairs Minister S Jaishankar.

He was speaking at the launch of G20 Sherpa Amitabh Kant’s latest book ‘Made In India: 75 Years of Business And Enterprise’.

This will mean a shift in strategic planning by both businesses and policy-makers. This larger strategic direction to doing business, he emphasises, will be critical, as it will move India to an environment in which it has clearly identified and understood its partners, and their strengths and weaknesses.

Of more importance, he pointed out, is that India now finds itself in a world that is becoming increasingly polarised, which makes diplomacy difficult. “But this is a window of opportunity for India, as smart business moves can open up many opportunities,” he said.

Also read: Amitabh Kant explains how India’s structural reforms will benefit MSMEs

This kind of a shift in thinking and approach, he reasoned, will also led to much stronger businesses within India, which can have larger ramifications and advantages. “Strong business is a critical segment of national security,” he explained, adding that this will be challenging, given India has to navigate and fuel growth in not just a much more volatile world, but in one that is decarbonised.

Jaishankar admitted that foreign policy will play a crucial role in the thrust to make India a manufacturing giant that’s more than just a vital cog in the global industrial complex’s supply chain. But the inverse is also equally important, he believes. “A good foreign policy needs deep strength, Make In India, and an Atmanirbhar Bharat,” he said.

Jaishankar pointed out that the India story is undeniable, led by game changers like increased formalisation of what were largely informal sectors, digitisation, and enhanced grass-root delivery models being put into effort. However, with the pandemic and its resultant economic stress largely behind us, the focus is shifting to ‘derisking’ India from such negative external stimuli.

That’s where self-reliance, or an Atmanirbhar Bharat comes in. But it has to be an Atmanirbhar Bharat that the world is nirbhar (reliant) on. “We are today moving to a policy of delivery; the politics of delivery is reshaping the country,” he said, adding, “building a resilient supply chain is the great manufacturing opportunity for us.”

Also read: Taking the eyes off terrorism would be detrimental to security interests: Jaishankar at SCO

Building India a stronger manufacturing establishment will also mean an India that is moving away from the traditional image of that of a service provider. “We need to get our focus back on manufacturing. The focus on services was an elegant excuse for not being good at manufacturing. If we are to sustain and take the economy to a different level, we have to be a serious manufacturing power,” he said.

But Jaishankar was also quick to admit that there are challenges and pitfalls to this approach. Surmounting these challenges, he believes, will involve a lot of introspection, bold thinking, the confidence to not be swayed by others’ opinions, and not giving in to fuelling growth by giving foreign players an unfair advantage. Some of this, he said, has already been happening at the policy-making level. “I am so glad we didn’t listen to most of the economic advise we received during the pandemic,” he said.

The process, however, will be a long one, he warned, and cannot happen overnight. “We have to be careful not to deindustrialise India,” he said. This will mean careful calibration of government policies. “We should still keep giving thought to the reforms which have not been done yet,” he added.

Also read: Government must use buffer stocks, import taxes more aggressively to manage food inflation: Ashok Gulati

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

S Jaishankar takes a ride in ‘Made in India’ train in Mozambique, shares video

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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External Affairs Minister S Jaishankar took a ride in a ‘Made in India’ train in the capital city of Maputo during his official visit to Mozambique on Thursday. The minister shared a video of the trip on Twitter.

“Took a ride in a ‘Made in India’ train from Maputo to Machava with Mozambican Transport Minister Mateus Magala. Appreciate CMD RITES Rahul Mithal joining us on the journey,” Jaishankar tweeted.

Jaishankar is on a three-day visit to Mozambique from April 13 to 15. The External Affairs Minister was welcomed in Mozambique by Deputy Foreign Affairs Minister Manuel Jose Goncalves and also met with Esperança Bias, President of the Assembly of the Republic.

The topics of discussion included counter-terrorism, disaster resilience, and green growth, with Jaishankar reiterating India’s support for Mozambique’s sustainable development.

A novel experience: conducting a Press Conference in a moving train. pic.twitter.com/1gYAG0JwaZ

— Dr. S. Jaishankar (@DrSJaishankar) April 13, 2023

Jaishankar also held a press conference from the train. He tweeted, “A novel experience: conducting a Press Conference in a moving train.”

During a press conference, Jaishankar answered questions about whether the BRICS alliance is looking at trading in its own currencies. He stated that trade settlement is something different countries are discussing and not something that is being discussed within the BRICS alliance, news agency ANI reported.

The External Affairs Minister also paid a visit to the Shree Vishvambhar Mahadev Mandir in the capital city of Maputo and addressed a gathering at a reception that the High Commissioner hosted.

He emphasised that India speaks not only for itself but for the Global South, and spoke about the transformational changes happening in an Aatmanirbhar Bharat that is putting India on a different trajectory.

The ‘Make in India’ initiative was launched by the Government of India in 2014 to encourage domestic and foreign companies to manufacture their products in India. The initiative aims to transform India into a global manufacturing hub and create job opportunities for the country’s rapidly growing workforce.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bharat Dynamics wins orders for Akash Weapons Systems, Helicopters worth Rs 8,422 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Defence PSU Bharat Dynamics won orders worth over Rs 8,400 crore on Wednesday from the Indian Army.

The company signed a contract worth Rs 8,161 crore for production and supply of Akash Weapon System to two regiments of the Indian Army. This order is to be executed over a period of three years.

Additionally, the company has also won an order worth Rs 261 crore for Counter Measures Dispensing System (CMDS) for MLH Helicopters. CMDS is an airborne defensive system providing self-protection to the aircraft against radar guided and IR seeking missiles by dispensing chaffs and flares.

With these contracts, the total orderbook for Bharat Dynamics has crossed Rs 24,000 crore.

The Union defence ministry on Thursday signed contracts with Indian shipyards for the acquisition of 11 next-generation offshore patrol vessels and six next-generation missile vessels at an overall cost of Rs 19,600 crore.

In addition to the domestic market, the Akash Weapon System is also being offered to friendly foreign countries. The company has received several orders in the current financial year for supply of various systems, including the Astra MK-I Air to Air Missile and associated equipment for the Air Force and Indian Navy.

Bharat Dynamics has also signed an MoU with several foreign OEMs based out of France, Belgium and the UAE for various products and systems.

In an exclusive conversation with CNBC-TV18 after the Aero Show 2023 last month, CMD Siddharth Mishra pointed to an increase in Research & Development (R&D) expenses. According to him, the company’s R&D expenses have gone up to Rs 100 crore compared to Rs 30 crore earlier.

Mishra also said that the company has export orders worth $320 million, which further strengthens its position as a global player in the defence industry.

Shares of Bharat Dynamics have turned positive for the year, and are trading at Rs 955.

Also Read: Bharat Dynamics ends 5% higher after winning $255 million export order

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Paytm launches next-generation payments platform backed by home grown technology

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Payments and financial services platform Paytm has taken another step towards Atmanirbhar Bharat to promote digital payments with the launch of its next-generation tech platform. One97 Communications Ltd (OCL), the parent company of Paytm, on Friday announced the launch of its upgraded payments platform that is built with 100 percent indigenously developed technology.

“We are happy to announce the launch of our next-generation payments platform powered by 100% Made-in-India technology. This platform is a shining example for Atmanirbhar Bharat which supports Paytm business to easily scale 10x of today,” Paytm tweeted.

We are happy to announce the launch of our next-generation payments platform powered by 100% Made-in-India technology. This platform is a shining example for Atmanirbhar Bharat which supports @Paytm business to easily scale 10x of today!

Read More: https://t.co/Jxs9pPwRnx pic.twitter.com/XBNvLHB1Hq

— Paytm (@Paytm) March 24, 2023

Paytm, founded by Vijay Shekhar Sharma, has been at the forefront of India’s digital payments transformation with its technology-led innovations. Paytm’s revamped platform is expected to bolster its fast, secure and seamless payments.

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The revamped platform will ensure that the previous technology platform is upgraded with new-age tech solutions that are locally built and supported in-house.

Paytm has set a gold standard for other fintech firms by launching a world-class platform that can handle up to 10 times the current scale, the company claimed. This move is aimed at tapping into the fast-growing digital payment opportunities in the country.

Paytm has emerged as a vital cog in India’s mission of building a trillion-dollar digital economy. The massive -upgrade of its payment platform through an indigenous full-stack development will go a long way in enabling affordable access to financial services.

ALSO READ | Paytm Payments Bank launches UPI LITE — How to avail the service

CEO Vijay Shekhar Sharma has also weighed in on Paytm’s new technology platform. In a statement, he expressed optimism about Paytm’s ability to serve the country with made-in-India technology.

Vijay Shekhar Sharma said, “By making sure that every component of our technology is made in-house, we have proved that India can build world-class technology software of scale. We have built a new operational risks system and fraud management from the ground up, catering to India’s payments growth.”

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Budget 2023: What it means for Startups?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 in the Lok Sabha on Wednesday.  Addressing that India is the third largest startup ecosystem in the world, the FM made promises in a bid to boost start-ups while stressing on an ‘Atmanirbhar Bharat.’

Here are the key takeaways-

EASE OF DOING BUSINESS & TAX BENEFITS

• Propose to extend income tax benefits from March 31, 2023 to March 31, 2024.
• Benefit of carry-forward of losses from 7 years to 10 years
•  More than 39,000 compliances have been reduced and 3400 legal provisions have been decriminalised.
• Deploy 100 commissioners for small appeals, to be more selective in scrutiny.

BOOST FOR AGRITECH

• Presenting the ‘Amrit Kaal’ budget, FM Sitharaman said that the government will promote agriculture based start-ups.
• An Agriculture Accelerator Fund to be set up to encourage agritech startups. Entrepreneurs to bring innovative and affordable solutions for farmers’ challenges, will also enhance profitability and bring modern technology.
• Digital Public Infrastructure for Agriculture to be built as open source, open standard, interoperable public good will enable inclusive farmer-centric solutions and help improve access to farm inputs, market intel, support for agri industry, startups.
• The government had set up small and marginal farmers’ cooperative based economy development models and was able to digitalise around 63 primary agricultural credit societies. Modern bylaws PACS were formulated enabling them with multipurpose PACS.
• To set massive decentralised storage capacity that will help farmers to store their produce and realise remunerate prices.
• Government will also help set up cooperative societies, primary fisheries societies, dairy cooperatives in uncovered panchayat villages in the next 5 years.
• The government proposes to increase the agricultural credit target to Rs 20 lakh crore with a focus on animal husbandry, dairy and fisheries. The agriculture sector of the country has been growing at an average annual growth rate of 4.6 percent in the last six years. “Will launch a sub-scheme of the existing PM Matsya Sampada Yojana scheme to improve value chain efficiencies,” the FM said.

BOOST FOR BIO-SCIENCES STARTUPS

• Over the next 3 years, the government will set up 10,000 bio input resource centres and enable 1 crores farmers to adopt natural farming.

  MAKE ‘AI’ IN INDIA

• Three centres of excellence for artificial intelligence to be set up in top educational institutions to enable ‘Make AI for India’ and ‘Make AI work for India’.

DIGITAL PUSH 

• The government will set up a National Data Governance Policy to help academia and startups with anonymised data.

THE MSME FACTOR

• Revamped credit guarantee scheme will take effect from April 1, 2023 through the infusion of Rs 9000 Cr in the corpus. This enables additional collateral-credit of Rs 2 lakh crore to MSMEs.
• 95 percent of the forfeited amount will be returned to MSMEs for contract failure during COVID-19.

FOR ONLINE GAMING STARTUPS

• Removing the minimum threshold of Rs 10,000/- for TDS and clarifying taxability relating to online gaming.

For LIVE updates on the Budget 2023 and Finance Nirmala Sitharaman’s speech, click here.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow