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Nirmala Sitharaman steps up to boost economic growth

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Nirmala Sitharaman steps up to boost economic growth

On Saturday Finance Minister Nirmala Sitharaman announced a series of steps to boost exports to improve the growth and uplift consumer sentiments.

Nirmala Sitharaman has sought to address concerns over infrastructure spending, improved access to credit for businesses, more capital for state-run banks, boosting the prospects of the auto sector; and improving credit flow.

Minutes of  the Press Conference :

On September 19, the Finance Minister will be meeting all PSB heads to assess how the credit flow system is working up.

She further added that Inflation is under control and there is a clear sign of revival of industrial production.

Sitharaman said that there will be the total removal of human interface in the tax assessment.

Small tax-payers with minor defaults will not be prosecuted.

To boost exports the government has come up with a six-point plan. Remission of duties or taxes on export products particularly in textile dispensation will completely replace all MEIS from Ist Jan 2020

Export Credit Guarantee Corp will expand the scope of ECIS and offer higher insurance cover to banks lending working capital for exports in a move which will cost Rs.1700 crore per annum to the government.

Data on export Finance will be regularly published by RBI. The inter-ministerial group will be formed which will be monitoring export finance on a weekly basis.

Annual mega shopping festivals will be held to boost small and medium scale enterprises.

Rs 50,000 cr revenue will be foregone with the introduction of remission of duties or taxes on export products, said the minister.

 Government moves to enable handicrafts industry to effectively harness e-commerce for exports; announces mass enrolment of artisans across India for handicraft promotion.

 With a focus on the construction of unfinished units, the government announces special window to provide last-mile funding for housing projects which are non-NPA and non-NCLT and are net worth positive in the affordable and middle-income category.

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Hazy morning in Delhi-NCR, air quality continues to be ‘poor’

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People residing in the national capital and its adjoining areas such as Gurugram, Faridabad, Noida, and Ghaziabad woke up to a hazy morning on Tuesday as the air quality index (AQI) dipped again to the poor category for the sixth consecutive day.

The data collated by the Centre-run System of Air Quality and Weather Forecasting And Research (SAFAR) showed the overall air quality of Delhi was docking at 252 at 8:30 am in the morning.

An AQI between 0 and 50 is considered ‘good’, 51 and 100 ‘satisfactory’, 101 and 200 ‘moderate’, 201 and 300 ‘poor’, 301 and 400 ‘very poor’, and 401 and 500 ‘severe’.

At Dhirpur, the AQI was 259 at 8:30 am, while at Mathura Road area it dipped to the ‘poor’ category at 296. Furthermore, the AQI near Pusa, Airport, Terminal 3 and Delhi University stood at 215, 293 and 241 respectively.

The air quality index is expected to plunge further around Diwali, if the availability of green crackers, as promised by the Central Government, is not ensured. Last year, during this festival, the apex court had banned conventional firecrackers and passed an order stating that only green crackers with reduced emissions will be allowed.

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Postpaid mobile phone services are restored but the Internet were still down

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Over 70 days after the Kashmir was put under an unprecedented lockdown and all communication lines were snapped, the government has restored postpaid mobile services in the Valley.

Postpaid mobile phone services have been restored on the state-run BSNL network in the Kashmir Valley.

Mobile internet and broadband still continue to be blacked out in the Valley since the August decision that saw a magnanimous shift in the situation in Jammu and Kashmir.

On August 5, Home Minister Amit Shah had announced the government’s major decision to scrap Article 370 to strip Jammu and Kashmir of its special status and also bifurcate the strife-torn state into two Union Territories.

Ever since, the government has imposed an unprecedented lockdown on the Valley, including the blackout of all communication lines.

On Saturday the J&K administration announced that some 40 lakh postpaid mobile phones will become operational from Monday noon.

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SC rejects PIL seeking to link social media accounts to Aadhaar

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The Supreme Court on Monday rejected a PIL seeking to link all social media accounts to Aadhaar to stop fake, troll accounts from overpowering social media platforms. The court has said all matters need not come to the apex court.

While hearing a PIL on social media accounts, the Supreme Court said, Everything doesn’t need to come to Supreme Court. This issue is before the Madras High Court and you can go there.

The plea sought a direction to the Centre for appropriate steps to link social media accounts with Aadhaar card to ‘check the menace of fake and paid news’. It was filed by lawyer and BJP leader Ashwini Upadhyay.

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