Category: Asia Pacific

  • MIL-OSI Banking: Result of the Daily Variable Rate Repo (VRR) auction held on February 03, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 75,000
    Total amount of bids received (in ₹ crore) 48,785
    Amount allotted (in ₹ crore) 48,785
    Cut off Rate (%) 6.51
    Weighted Average Rate (%) 6.52
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2065

    MIL OSI Global Banks

  • MIL-OSI Banking: Notice of the Settlement of Patent Infringement Lawsuit with Magna International Inc.

    Source: Panasonic

    Headline: Notice of the Settlement of Patent Infringement Lawsuit with Magna International Inc.

    Yokohama, Japan, February 3rd, 2025 – Panasonic Automotive Systems Co., Ltd. (Headquarters: Yokohama, Kanagawa, Japan; President: Masashi Nagayasu; hereinafter referred to as “PAS”) has entered into a patent cross-licensing agreement with Magna Electronics Inc. (Headquarters: USA) and Magna International Inc. (Headquarters: Canada) regarding in-vehicle products. This agreement allows both companies to mutually utilize certain of each other’s patented technologies, aiming to enhance technological innovation and market competitiveness.
    In March 2021, Panasonic filed lawsuits in the U.S. Federal Court in Texas and the Munich District Court in Germany, claiming that products of Magna International Inc. infringed on our patents related to advanced driver assistance systems (ADAS) for automobiles. Magna filed counterclaims asserting certain patents against Panasonic. After continued discussions, we have agreed to settle by entering into a patent cross-licensing agreement for in-vehicle products and to withdraw all pending lawsuits. The terms of the agreement remain confidential between the parties.
    We will continue to strive to enhance our corporate value through the protection and utilization of our intellectual property rights.
    Masashige MIZUYAMA, our Executive Vice President (CTO, Intellectual Property), commented, “This agreement is an important step to further strengthen our technological capabilities and intellectual property accumulated by the PAS and Panasonic Group, enhancing our competitiveness in the global market. We will continue to provide more innovative products and meet our customers’ expectations.”

    MIL OSI Global Banks

  • MIL-OSI New Zealand: Serious injury outcome indicators: 2000–2023 – Stats NZ information release

    Source: Statistics New Zealand

    Serious injury outcome indicators: 2000–2023 – 17 December 2024 – Serious injury outcome indicators present the annual number and rate of serious injury outcomes in New Zealand, through a set of indicators for fatal and non-fatal injuries.

    Note: We are now publishing the Work-related injury targets at a glance: 2008–2023 Excel file on this page to present the three indicators used for monitoring the Government’s targets to reduce work-related injuries together.

     

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: GDP decreases 1.0 percent in the September 2024 quarter ? Stats NZ media and information release: Gross domestic product: September 2024 quarter

    Source: Statistics New Zealand
    GDP decreases 1.0 percent in the September 2024 quarter – 19 December 2024 – New Zealand’s gross domestic product (GDP) fell 1.0 percent in the September 2024 quarter, following a revised 1.1 percent decrease in the June 2024 quarter, according to figures released by Stats NZ today.

    The update to the June 2024 quarter growth rate reflects the incorporation of annual data, a process completed by Stats NZ each October. In this instance, while the June quarter growth rate has been revised downward, the overall level of economic activity has been revised upward over a longer period.

    “The structure of the New Zealand economy can change quickly, which is why we update with new data each year,” macroeconomic growth spokesperson Jason Attewell said.

    “The data incorporated this year shows stronger growth over the last year, followed by two significant falls in the latest quarters.

    “We balance the use of timely data for quarterly GDP estimates with more detailed information to annually update the relevant importance of industries. This approach is in line with international best practice.”

    MIL OSI New Zealand News

  • MIL-OSI China: China to file lawsuit against latest tariffs

    Source: China State Council Information Office

    China will file a lawsuit with the World Trade Organization and take necessary countermeasures to safeguard its own rights and interests, the Ministry of Commerce said on Sunday after the United States announced it would impose a 10 percent additional tariff on goods from China.

    The Ministry of Commerce said this move fails to solve the problems faced by the US, and undermines normal economic and trade cooperation between the two countries. An expert from a think tank in Beijing said the decision is expected to have a significant impact on US and Chinese industries.

    “The unilateral imposition of tariffs by the US seriously violates the rules of the WTO. We urge the US to objectively and rationally view and handle its own fentanyl and other issues, rather than resorting to tariff threats against other countries,” the ministry said in a statement.

    Zhou Mi, a researcher at the Chinese Academy of International Trade and Economic Cooperation, said a higher tariff on Chinese goods will likely result in higher costs of importing products from China, and this cost may be further amplified along the supply chain.

    “For US manufacturers, when they import intermediate materials or products from China, the costs of those products will increase, and the price increase will be transmitted along the layers of the supply chain. US consumers could face price inflation on certain products of over 10 percent,” Zhou said.

    He added that Chinese exporters could also face a significant challenge, as US importers may need to renegotiate with Chinese companies about specific prices and plans on additional costs.

    The Foreign Ministry said in a statement on Sunday that China has expressed strong dissatisfaction and resolute opposition to the latest move, and will take necessary countermeasures to firmly safeguard its legitimate rights and interests.

    There are no winners in trade disputes, and China’s stance is consistent and firm.

    The US has levied a 10 percent tariff on Chinese imports under the pretext of the fentanyl issue.

    The Foreign Ministry said fentanyl is a problem of the US, and China has been among the countries with the strictest and most thoroughly enforced narcotics control policies in the world. In a humanitarian spirit, China has provided support to the US in dealing with its fentanyl problem.

    “China urges the US to correct its wrong practices, maintain the hard-won progress of China-US drug control cooperation, and promote stable, healthy and sustainable development of China-US relations,” the Foreign Ministry said in the statement.

    The latest move comes after a year of robust foreign trade between US and China.

    In December alone, US seaports handled an equivalent of 451,000 40-foot containers of goods from China, up 14.5 percent year-on-year, with some companies stockpiling goods early to get ahead of tariff threats, according to trade data supplier Descartes Systems Group.

    Last year, US imports of machinery, bedding, plastic toys and other products from China rose 15 percent over the levels seen in 2023, data from Descartes showed.

    Some US companies decided to import goods “earlier” than usual to avoid the tariff threats and potential strikes at ports, Jonathan Gold, president of supply chain and customs policy at the National Retail Federation, told China Daily.

    Since 2018, the original round of tariffs imposed on China by the first Trump administration and those kept and extended by then President Joe Biden’s administration, have caused a significant impact.

    The Peterson Institute for Inter-national Economics in Washington, DC, found that in 2018, the two-way trade between China and the US was $659 billion. In 2024, the figure declined to $578 billion.

    Thomas Fullerton, an economics professor at the University of Texas at El Paso, said a better way for the US to address the competition with countries in the Asia-Pacific region would have been “to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership”, a free trade agreement between 12 countries.

    “As trade barriers, tariffs can also cause domestic industries to become less competitive,” Fullerton said.

    According to the executive order, the US also imposed a 25 percent tariff on goods from Mexico and Canada. For energy products from Canada, the US imposed a 10 percent tariff.

    MIL OSI China News

  • MIL-OSI New Zealand: SH1 Kaiwaka to Te Hana remains closed for truck recovery

    Source: New Zealand Transport Agency

    NZ Transport Agency Waka Kotahi (NZTA) advises State Highway 1 between Kaiwaka and Te Hana remains closed for clean-up and recovery, following a truck rollover this morning.

    The road is likely to remain closed for some time, with specialist machinery required for the clean-up and recovery. Motorists are encouraged to delay their journeys, where possible, or to allow extra time for the detour route.

    There is a detour in place for light vehicles only. Southbound vehicles should turn left on to Kaiwaka-Mangawhai Rd, then continue on to Moir St before turning right on to Insley St. From there they should continue on to Tomarata Rd, then Mangawhai Rd, before returning to SH1 north of Te Hana. Northbound traffic should take the same route, in reverse.

    Traffic on the detour route is currently heavy but flowing. People are asked to stick to the recommended detour as other local roads are not suitable for state highway detour traffic.

    There is no detour route for heavy vehicles and, due to a significant build-up of traffic at the closure point, heavy vehicles are asked to delay their journeys if possible.

    People are encouraged to visit the Journey Planner website for up to date information on the closure and detour route before they travel.

    Journey Planner [JPG, 721 KB]

    NZTA thanks everyone for their patience.

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Second closure on SH1, Northland

    Source: New Zealand Transport Agency

    Update 3.40pm: State Highway 1 between Whakapara and Towai has now reopened to one lane, with contractors managing traffic past the site under stop/go. Please expect delays and allow additional time for travel between Whangārei and Kawakawa.


    3.17pm:

    NZ Transport Agency Waka Kotahi (NZTA) advises State Highway 1 is closed between Whakapara and Towai, north of Whangārei, due to a crash blocking the road in Hūkerenui.

    Motorists are asked to delay their travel, where possible, or to consider alternate routes, such as State Highway 15.

    SH1 is also closed between Kaiwaka and Te Hana for clean up and recovery, following a truck rollover earlier today.

    Earlier traffic bulletin covering this event:

    People are encouraged to visit the Journey Planner website for up to date information on the closure and detour route before they travel.

    Journey Planner(external link)

    NZTA thanks everyone for their patience.

    MIL OSI New Zealand News

  • MIL-OSI Australia: Australian Deputy PM: Transcript – ABC Country Hour Queensland

    Source: Minister of Infrastructure

    BRANDON LONG [JOURNALIST]: First of all, let’s talk a little bit about the Regional University Study Hubs. So, ten new ones, and we’ve got a handful in Queensland. What can you tell us about this new announcement? 

    ANTHONY CHISHOLM [ASSISTANT MINISTER]: So, this is an extension of the existing hubs that have already been in operation around the country. They do an outstanding job, I’ve been lucky enough to visit a number of them now, and what they’re doing is providing an opportunity for those people who live in a regional or rural location to have the opportunity to study at any higher education institution across the country. We know that it’s not always easy to move away from home to study, or indeed you might move to a regional location and want to continue your studies, and that’s what these organisations are doing. So they’re community-led, and that means that the next nurse or next teacher can already be living in these places, but they’re going to get the opportunity to stay and study locally, enjoy that family support that helps you thrive and go on to achieve their degree and aims, which is fantastic. 

    LONG: Okay and the two new hubs are Clermont and Moranbah, Hughenden, Hay, Tumut, Northam, Kununurra, Kangaroo Island, Hamilton, St Helens and Burnt Pine – some of my interstate colleagues will probably hate the pronunciation there – but what’s some of the data showing about the uptake? 

    CHISHOLM: So, what we know is that there’s already thousands of people that are studying at these hubs across the country, and they’re doing nursing, they’re doing teaching, they’re doing social work, they’re doing all types of things. We know that in regional and rural economies there is a skills shortage. We need more nurses; we need more teachers. These study hubs are providing that opportunity for those people to study locally. We know that if you study in your local community you’re much more likely to stay there longer term and work, so it’s really helping to fix that skills gap but also making these regional and rural locations more attractive for people to live at the same time. 

    LONG: And when do we expect the new hubs to be operational? 

    CHISHOLM: We’d expect them to be operational this year. I know that a number of them have already started work on where they’d be located, they have been raising money within the community to ensure that they’re ready to go, and often they’re led by the local council with support of the local community. So, we know that there’s already 43 existing and a lot of those who’ve applied have good relationships with those that are already existing, so we’re confident that they can get up and running really soon and provide a service to the local community. 

    LONG: Yeah and what’s the kind of cost that we’re talking about with these hubs? 

    CHISHOLM: Yeah. So traditionally what the Federal Government do is we provide some initial support, because they might need to convert a building to make it suitable. So a lot of the councils that apply use existing council facilities and turn them into a study hub, which is great use of resources, but we also, as part of the Federal Government fund someone to run the centre, and they’ll be responsible for the mentoring, they’ll go out and talk to Year 11 and 12 students and say, you know, we operate in town so you don’t have to move away now to study, you can stay and study in your local community, and then really encourage those 11 and 12s who may be thinking moving away was a bit too far, you don’t have to move away, you can stay and study locally, and it might just increase their ambitions in 11 and 12, which would be fantastic. I’ve seen a lot of these centres in action already across the country. I’m really passionate about the opportunity they provide for people to gain their higher education degree without leaving their community. So, I’m confident that these additional ones are going to provide a fantastic service to those communities, increase the workers, and what we hope is that next nurse or teacher will benefit from these opportunities. 

    LONG: Let’s move to Inland Rail now. So obviously in the news of late there’s been discussion about the Infrastructure Priority List and Inland Rail doesn’t appear on that anymore. There’s been plenty of discussion about why that is. So, should people be concerned that it isn’t on the list anymore? 

    CHISHOLM: No, they shouldn’t, Brandon, and it is just a sad scare campaign that we’ve seen from the State Government and unfortunately it seems the local Member for Groom has hopped on board that. What I would remind people of is the mess we inherited when we came to government three years ago in regards to Inland Rail, where they hadn’t even determined the route that we would take in Queensland. So, we’ve had to go back to the drawing board in Queensland. That process is ongoing. We’re trying to work constructively with the State Government identifying the route, getting the approvals in place, but the work on Inland Rail continues, it is being – that work continues further south of the border, and we look to make progress on approvals in Queensland.  We understand it’s an important project, we’re the ones who started it, we want to see it get done, but it has been frustrating that when we inherited this project it was in a complete mess, that’s what the Schott Review that we initiated explained, that’s what we’re trying to fix at the moment. 

    LONG: And Goondiwindi Mayor, Lawrence Springborg said in January that it looks to be very soon that we’ll see some action in Queensland. Are we waiting on some EISs for various parts? What can you tell us about when do we see more action taking place? 

    CHISHOLM: We understand that it’s an important project, and there is a high expectation about what it will mean for the local community. We want to ensure that it gets done in a cost-effective way and one that ensures that there is community support for it as well. That’s the process that we’re going through at the moment. We need to get all those approvals done appropriately. We’ll work to do that with the State Government to ensure that people can have confidence that once we announce what that route will be that there will be community support for it, and the money behind it as well. 

    LONG: Do we have a timeline yet? 

    CHISHOLM: I wouldn’t want to put a timeline on it, but we’re committed to seeing the project through, we want to make progress on it as a government. 

    LONG: All right, there’s just been some recent figures from the National Heavy Vehicle Regulator as they’ve been doing inspections over two weeks across multiple states on the eastern seaboard, just to check for compliance with things like fatigue. They did 4,500 inspections and found 182 fatigue-related issues that needed action. Do you think that we probably rely on trucks a bit too much, and do you think Inland Rail will relieve some of those issues? 

    CHISHOLM: I certainly think that it’s an important bit of economic infrastructure, but it’s also important for the transport and logistics industry as well. Truck drivers do an outstanding job moving freight across the country, particularly in such a big state as ours. We want that to be done as safely as possible, so it is concerning the number of instances that you highlighted there. As someone who is passionate about road safety, we want to ensure that our roads are as safe as possible. We know particularly over this time of year, when people are getting out and about, particularly over the holiday season that there is often high instances. So, we really encourage people to be doing what they can to be driving safely, taking rests where appropriate and ensuring that you do get to your destination in a safe manner. 

    LONG: And just on to the Toowoomba Second Range Crossing or Toowoomba Bypass, look, it was all finished, it was a very expensive and large project, and it’s taken trucks around the town instead of right through it. Lately, there’s been a few issues with some rocks, rock formations, you know, cracking and things on the side, a lane has been closed for some time, and some truckies in the region say that we shouldn’t be, they shouldn’t be paying the full toll at the moment because of some issues there. Do you think that this project, it was a Federal and State Government combined, do you think that what has happened after you’ve finalised the project has been disappointing, or? 

    CHISHOLM: Yeah, certainly it’s frustrating, and I’m not someone who drives it every day, but I do come up here regularly, and used it this morning and saw the work that is undertaken, and it is frustrating, because it was an expensive bit of infrastructure, as you’ve identified, and I’m sure the community would be hoping that it would be fully operational and it is important for the freight industry at the same time. I know that the work is going to remediate there, that is being handled by the State Government, so I don’t necessarily have an update, but I think it is a lesson for all of us involved in the use of public money, that you want it to be done as efficiently as possible, but you also want these projects to be done in a way to ensure that they do fix those problems longer term. So, I think all politicians should take heed of that advice. 

    LONG: All right and just finally on to the vets, the peak body for the veterinary practice in Australia, they’ve said that vets need to do a 52-week practical placement, and they’ve missed out on some Commonwealth funding. They’re calling for a bit of extra help. Do you think that that’s possible? 

    CHISHOLM: Yeah, it is a really important industry, and as I get around the country I do know that there has been identified a shortage of vets, particularly in rural and regional locations. When we brought in the prac placements that would apply to nursing and teaching and social work, this is the first time that the Federal Government have provided some support for students when they are doing that prac placement. It is quite costly, so it is going to cost, it’s due to start from 1 July this year, and it is going to cost upwards of $300 million for us to establish that. We’d obviously like that to be expanded, but it is something that does cost money, so we’ll work with those people in professions that are impacted and do have claims to make. We want to ensure that this can be done in a way that it continues to be supported and that it does provide that support to people to study so that it doesn’t become a barrier, and I do understand that there are other professions out there that do have a claim or a case to be made in regards to this. 

    LONG: The group also said that it’s accrued some of the highest HECS-HELP debts out of any other body studying, I think they put a figure around $80,000 as the medium debt. Is there any option of giving some relief to those people? 

    CHISHOLM: Obviously we announced that we have taken action on HECS debt, and that it had been too high, so that has taken place. In terms of what we’ve identified around the cost of courses, that is something that is going to be something that is looked at part of the ongoing Universities Accord process that we went through last year. When we went through the Universities Accord, we said that we wouldn’t be able to implement all of those changes from day one, it would take time, and one of the ones that was identified that we are going to look at over time is the cost of degrees. We don’t want that to be a barrier to someone studying, but it is something that we need work with the sector on and do it in a way so that we can manage the growth of the sector into the future, but ensure people have an opportunity to study at the same time. 

    HOST: That was Federal Assistant Minister for Education, Regional Development and Agriculture, Anthony Chisholm there speaking with the ABC’s Brandon Long.

    MIL OSI News

  • MIL-OSI Australia: Transcript – ABC Country Hour Queensland

    Source: Australian Ministers for Regional Development

    BRANDON LONG [JOURNALIST]: First of all, let’s talk a little bit about the Regional University Study Hubs. So, ten new ones, and we’ve got a handful in Queensland. What can you tell us about this new announcement? 

    ANTHONY CHISHOLM [ASSISTANT MINISTER]: So, this is an extension of the existing hubs that have already been in operation around the country. They do an outstanding job, I’ve been lucky enough to visit a number of them now, and what they’re doing is providing an opportunity for those people who live in a regional or rural location to have the opportunity to study at any higher education institution across the country. We know that it’s not always easy to move away from home to study, or indeed you might move to a regional location and want to continue your studies, and that’s what these organisations are doing. So they’re community-led, and that means that the next nurse or next teacher can already be living in these places, but they’re going to get the opportunity to stay and study locally, enjoy that family support that helps you thrive and go on to achieve their degree and aims, which is fantastic. 

    LONG: Okay and the two new hubs are Clermont and Moranbah, Hughenden, Hay, Tumut, Northam, Kununurra, Kangaroo Island, Hamilton, St Helens and Burnt Pine – some of my interstate colleagues will probably hate the pronunciation there – but what’s some of the data showing about the uptake? 

    CHISHOLM: So, what we know is that there’s already thousands of people that are studying at these hubs across the country, and they’re doing nursing, they’re doing teaching, they’re doing social work, they’re doing all types of things. We know that in regional and rural economies there is a skills shortage. We need more nurses; we need more teachers. These study hubs are providing that opportunity for those people to study locally. We know that if you study in your local community you’re much more likely to stay there longer term and work, so it’s really helping to fix that skills gap but also making these regional and rural locations more attractive for people to live at the same time. 

    LONG: And when do we expect the new hubs to be operational? 

    CHISHOLM: We’d expect them to be operational this year. I know that a number of them have already started work on where they’d be located, they have been raising money within the community to ensure that they’re ready to go, and often they’re led by the local council with support of the local community. So, we know that there’s already 43 existing and a lot of those who’ve applied have good relationships with those that are already existing, so we’re confident that they can get up and running really soon and provide a service to the local community. 

    LONG: Yeah and what’s the kind of cost that we’re talking about with these hubs? 

    CHISHOLM: Yeah. So traditionally what the Federal Government do is we provide some initial support, because they might need to convert a building to make it suitable. So a lot of the councils that apply use existing council facilities and turn them into a study hub, which is great use of resources, but we also, as part of the Federal Government fund someone to run the centre, and they’ll be responsible for the mentoring, they’ll go out and talk to Year 11 and 12 students and say, you know, we operate in town so you don’t have to move away now to study, you can stay and study in your local community, and then really encourage those 11 and 12s who may be thinking moving away was a bit too far, you don’t have to move away, you can stay and study locally, and it might just increase their ambitions in 11 and 12, which would be fantastic. I’ve seen a lot of these centres in action already across the country. I’m really passionate about the opportunity they provide for people to gain their higher education degree without leaving their community. So, I’m confident that these additional ones are going to provide a fantastic service to those communities, increase the workers, and what we hope is that next nurse or teacher will benefit from these opportunities. 

    LONG: Let’s move to Inland Rail now. So obviously in the news of late there’s been discussion about the Infrastructure Priority List and Inland Rail doesn’t appear on that anymore. There’s been plenty of discussion about why that is. So, should people be concerned that it isn’t on the list anymore? 

    CHISHOLM: No, they shouldn’t, Brandon, and it is just a sad scare campaign that we’ve seen from the State Government and unfortunately it seems the local Member for Groom has hopped on board that. What I would remind people of is the mess we inherited when we came to government three years ago in regards to Inland Rail, where they hadn’t even determined the route that we would take in Queensland. So, we’ve had to go back to the drawing board in Queensland. That process is ongoing. We’re trying to work constructively with the State Government identifying the route, getting the approvals in place, but the work on Inland Rail continues, it is being – that work continues further south of the border, and we look to make progress on approvals in Queensland.  We understand it’s an important project, we’re the ones who started it, we want to see it get done, but it has been frustrating that when we inherited this project it was in a complete mess, that’s what the Schott Review that we initiated explained, that’s what we’re trying to fix at the moment. 

    LONG: And Goondiwindi Mayor, Lawrence Springborg said in January that it looks to be very soon that we’ll see some action in Queensland. Are we waiting on some EISs for various parts? What can you tell us about when do we see more action taking place? 

    CHISHOLM: We understand that it’s an important project, and there is a high expectation about what it will mean for the local community. We want to ensure that it gets done in a cost-effective way and one that ensures that there is community support for it as well. That’s the process that we’re going through at the moment. We need to get all those approvals done appropriately. We’ll work to do that with the State Government to ensure that people can have confidence that once we announce what that route will be that there will be community support for it, and the money behind it as well. 

    LONG: Do we have a timeline yet? 

    CHISHOLM: I wouldn’t want to put a timeline on it, but we’re committed to seeing the project through, we want to make progress on it as a government. 

    LONG: All right, there’s just been some recent figures from the National Heavy Vehicle Regulator as they’ve been doing inspections over two weeks across multiple states on the eastern seaboard, just to check for compliance with things like fatigue. They did 4,500 inspections and found 182 fatigue-related issues that needed action. Do you think that we probably rely on trucks a bit too much, and do you think Inland Rail will relieve some of those issues? 

    CHISHOLM: I certainly think that it’s an important bit of economic infrastructure, but it’s also important for the transport and logistics industry as well. Truck drivers do an outstanding job moving freight across the country, particularly in such a big state as ours. We want that to be done as safely as possible, so it is concerning the number of instances that you highlighted there. As someone who is passionate about road safety, we want to ensure that our roads are as safe as possible. We know particularly over this time of year, when people are getting out and about, particularly over the holiday season that there is often high instances. So, we really encourage people to be doing what they can to be driving safely, taking rests where appropriate and ensuring that you do get to your destination in a safe manner. 

    LONG: And just on to the Toowoomba Second Range Crossing or Toowoomba Bypass, look, it was all finished, it was a very expensive and large project, and it’s taken trucks around the town instead of right through it. Lately, there’s been a few issues with some rocks, rock formations, you know, cracking and things on the side, a lane has been closed for some time, and some truckies in the region say that we shouldn’t be, they shouldn’t be paying the full toll at the moment because of some issues there. Do you think that this project, it was a Federal and State Government combined, do you think that what has happened after you’ve finalised the project has been disappointing, or? 

    CHISHOLM: Yeah, certainly it’s frustrating, and I’m not someone who drives it every day, but I do come up here regularly, and used it this morning and saw the work that is undertaken, and it is frustrating, because it was an expensive bit of infrastructure, as you’ve identified, and I’m sure the community would be hoping that it would be fully operational and it is important for the freight industry at the same time. I know that the work is going to remediate there, that is being handled by the State Government, so I don’t necessarily have an update, but I think it is a lesson for all of us involved in the use of public money, that you want it to be done as efficiently as possible, but you also want these projects to be done in a way to ensure that they do fix those problems longer term. So, I think all politicians should take heed of that advice. 

    LONG: All right and just finally on to the vets, the peak body for the veterinary practice in Australia, they’ve said that vets need to do a 52-week practical placement, and they’ve missed out on some Commonwealth funding. They’re calling for a bit of extra help. Do you think that that’s possible? 

    CHISHOLM: Yeah, it is a really important industry, and as I get around the country I do know that there has been identified a shortage of vets, particularly in rural and regional locations. When we brought in the prac placements that would apply to nursing and teaching and social work, this is the first time that the Federal Government have provided some support for students when they are doing that prac placement. It is quite costly, so it is going to cost, it’s due to start from 1 July this year, and it is going to cost upwards of $300 million for us to establish that. We’d obviously like that to be expanded, but it is something that does cost money, so we’ll work with those people in professions that are impacted and do have claims to make. We want to ensure that this can be done in a way that it continues to be supported and that it does provide that support to people to study so that it doesn’t become a barrier, and I do understand that there are other professions out there that do have a claim or a case to be made in regards to this. 

    LONG: The group also said that it’s accrued some of the highest HECS-HELP debts out of any other body studying, I think they put a figure around $80,000 as the medium debt. Is there any option of giving some relief to those people? 

    CHISHOLM: Obviously we announced that we have taken action on HECS debt, and that it had been too high, so that has taken place. In terms of what we’ve identified around the cost of courses, that is something that is going to be something that is looked at part of the ongoing Universities Accord process that we went through last year. When we went through the Universities Accord, we said that we wouldn’t be able to implement all of those changes from day one, it would take time, and one of the ones that was identified that we are going to look at over time is the cost of degrees. We don’t want that to be a barrier to someone studying, but it is something that we need work with the sector on and do it in a way so that we can manage the growth of the sector into the future, but ensure people have an opportunity to study at the same time. 

    HOST: That was Federal Assistant Minister for Education, Regional Development and Agriculture, Anthony Chisholm there speaking with the ABC’s Brandon Long.

    MIL OSI News

  • MIL-OSI Australia: Interview – ABC Country Hour Queensland

    Source: Australian Executive Government Ministers

    BRANDON LONG [JOURNALIST]: First of all, let’s talk a little bit about the Regional University Study Hubs. So, ten new ones, and we’ve got a handful in Queensland. What can you tell us about this new announcement?

    ANTHONY CHISHOLM [ASSISTANT MINISTER]: So, this is an extension of the existing hubs that have already been in operation around the country. They do an outstanding job, I’ve been lucky enough to visit a number of them now, and what they’re doing is providing an opportunity for those people who live in a regional or rural location to have the opportunity to study at any higher education institution across the country. We know that it’s not always easy to move away from home to study, or indeed you might move to a regional location and want to continue your studies, and that’s what these organisations are doing. So they’re community-led, and that means that the next nurse or next teacher can already be living in these places, but they’re going to get the opportunity to stay and study locally, enjoy that family support that helps you thrive and go on to achieve their degree and aims, which is fantastic.

    LONG: Okay and the two new hubs are Clermont and Moranbah, Hughenden, Hay, Tumut, Northam, Kununurra, Kangaroo Island, Hamilton, St Helens and Burnt Pine – some of my interstate colleagues will probably hate the pronunciation there – but what’s some of the data showing about the uptake?

    CHISHOLM: So, what we know is that there’s already thousands of people that are studying at these hubs across the country, and they’re doing nursing, they’re doing teaching, they’re doing social work, they’re doing all types of things. We know that in regional and rural economies there is a skills shortage. We need more nurses; we need more teachers. These study hubs are providing that opportunity for those people to study locally. We know that if you study in your local community you’re much more likely to stay there longer term and work, so it’s really helping to fix that skills gap but also making these regional and rural locations more attractive for people to live at the same time.

    LONG: And when do we expect the new hubs to be operational?

    CHISHOLM: We’d expect them to be operational this year. I know that a number of them have already started work on where they’d be located, they have been raising money within the community to ensure that they’re ready to go, and often they’re led by the local council with support of the local community. So, we know that there’s already 43 existing and a lot of those who’ve applied have good relationships with those that are already existing, so we’re confident that they can get up and running really soon and provide a service to the local community.

    LONG: Yeah and what’s the kind of cost that we’re talking about with these hubs?

    CHISHOLM: Yeah. So traditionally what the Federal Government do is we provide some initial support, because they might need to convert a building to make it suitable. So a lot of the councils that apply use existing council facilities and turn them into a study hub, which is great use of resources, but we also, as part of the Federal Government fund someone to run the centre, and they’ll be responsible for the mentoring, they’ll go out and talk to Year 11 and 12 students and say, you know, we operate in town so you don’t have to move away now to study, you can stay and study in your local community, and then really encourage those 11 and 12s who may be thinking moving away was a bit too far, you don’t have to move away, you can stay and study locally, and it might just increase their ambitions in 11 and 12, which would be fantastic. I’ve seen a lot of these centres in action already across the country. I’m really passionate about the opportunity they provide for people to gain their higher education degree without leaving their community. So, I’m confident that these additional ones are going to provide a fantastic service to those communities, increase the workers, and what we hope is that next nurse or teacher will benefit from these opportunities.

    LONG: Let’s move to Inland Rail now. So obviously in the news of late there’s been discussion about the Infrastructure Priority List and Inland Rail doesn’t appear on that anymore. There’s been plenty of discussion about why that is. So, should people be concerned that it isn’t on the list anymore?

    CHISHOLM: No, they shouldn’t, Brandon, and it is just a sad scare campaign that we’ve seen from the State Government and unfortunately it seems the local Member for Groom has hopped on board that. What I would remind people of is the mess we inherited when we came to government three years ago in regards to Inland Rail, where they hadn’t even determined the route that we would take in Queensland. So, we’ve had to go back to the drawing board in Queensland. That process is ongoing. We’re trying to work constructively with the State Government identifying the route, getting the approvals in place, but the work on Inland Rail continues, it is being – that work continues further south of the border, and we look to make progress on approvals in Queensland.  We understand it’s an important project, we’re the ones who started it, we want to see it get done, but it has been frustrating that when we inherited this project it was in a complete mess, that’s what the Schott Review that we initiated explained, that’s what we’re trying to fix at the moment.

    LONG: And Goondiwindi Mayor, Lawrence Springborg said in January that it looks to be very soon that we’ll see some action in Queensland. Are we waiting on some EISs for various parts? What can you tell us about when do we see more action taking place?

    CHISHOLM: We understand that it’s an important project, and there is a high expectation about what it will mean for the local community. We want to ensure that it gets done in a cost-effective way and one that ensures that there is community support for it as well. That’s the process that we’re going through at the moment. We need to get all those approvals done appropriately. We’ll work to do that with the State Government to ensure that people can have confidence that once we announce what that route will be that there will be community support for it, and the money behind it as well.

    LONG: Do we have a timeline yet?

    CHISHOLM: I wouldn’t want to put a timeline on it, but we’re committed to seeing the project through, we want to make progress on it as a government.

    LONG: All right, there’s just been some recent figures from the National Heavy Vehicle Regulator as they’ve been doing inspections over two weeks across multiple states on the eastern seaboard, just to check for compliance with things like fatigue. They did 4,500 inspections and found 182 fatigue-related issues that needed action. Do you think that we probably rely on trucks a bit too much, and do you think Inland Rail will relieve some of those issues?

    CHISHOLM: I certainly think that it’s an important bit of economic infrastructure, but it’s also important for the transport and logistics industry as well. Truck drivers do an outstanding job moving freight across the country, particularly in such a big state as ours. We want that to be done as safely as possible, so it is concerning the number of instances that you highlighted there. As someone who is passionate about road safety, we want to ensure that our roads are as safe as possible. We know particularly over this time of year, when people are getting out and about, particularly over the holiday season that there is often high instances. So, we really encourage people to be doing what they can to be driving safely, taking rests where appropriate and ensuring that you do get to your destination in a safe manner.

    LONG: And just on to the Toowoomba Second Range Crossing or Toowoomba Bypass, look, it was all finished, it was a very expensive and large project, and it’s taken trucks around the town instead of right through it. Lately, there’s been a few issues with some rocks, rock formations, you know, cracking and things on the side, a lane has been closed for some time, and some truckies in the region say that we shouldn’t be, they shouldn’t be paying the full toll at the moment because of some issues there. Do you think that this project, it was a Federal and State Government combined, do you think that what has happened after you’ve finalised the project has been disappointing, or?

    CHISHOLM: Yeah, certainly it’s frustrating, and I’m not someone who drives it every day, but I do come up here regularly, and used it this morning and saw the work that is undertaken, and it is frustrating, because it was an expensive bit of infrastructure, as you’ve identified, and I’m sure the community would be hoping that it would be fully operational and it is important for the freight industry at the same time. I know that the work is going to remediate there, that is being handled by the State Government, so I don’t necessarily have an update, but I think it is a lesson for all of us involved in the use of public money, that you want it to be done as efficiently as possible, but you also want these projects to be done in a way to ensure that they do fix those problems longer term. So, I think all politicians should take heed of that advice.

    LONG: All right and just finally on to the vets, the peak body for the veterinary practice in Australia, they’ve said that vets need to do a 52-week practical placement, and they’ve missed out on some Commonwealth funding. They’re calling for a bit of extra help. Do you think that that’s possible?

    CHISHOLM: Yeah, it is a really important industry, and as I get around the country I do know that there has been identified a shortage of vets, particularly in rural and regional locations. When we brought in the prac placements that would apply to nursing and teaching and social work, this is the first time that the Federal Government have provided some support for students when they are doing that prac placement. It is quite costly, so it is going to cost, it’s due to start from 1 July this year, and it is going to cost upwards of $300 million for us to establish that. We’d obviously like that to be expanded, but it is something that does cost money, so we’ll work with those people in professions that are impacted and do have claims to make. We want to ensure that this can be done in a way that it continues to be supported and that it does provide that support to people to study so that it doesn’t become a barrier, and I do understand that there are other professions out there that do have a claim or a case to be made in regards to this.

    LONG: The group also said that it’s accrued some of the highest HECS-HELP debts out of any other body studying, I think they put a figure around $80,000 as the medium debt. Is there any option of giving some relief to those people?

    CHISHOLM: Obviously we announced that we have taken action on HECS debt, and that it had been too high, so that has taken place. In terms of what we’ve identified around the cost of courses, that is something that is going to be something that is looked at part of the ongoing Universities Accord process that we went through last year. When we went through the Universities Accord, we said that we wouldn’t be able to implement all of those changes from day one, it would take time, and one of the ones that was identified that we are going to look at over time is the cost of degrees. We don’t want that to be a barrier to someone studying, but it is something that we need work with the sector on and do it in a way so that we can manage the growth of the sector into the future, but ensure people have an opportunity to study at the same time.

    HOST: That was Federal Assistant Minister for Education, Regional Development and Agriculture, Anthony Chisholm there speaking with the ABC’s Brandon Long.
     

    MIL OSI News

  • MIL-OSI New Zealand: Waitangi Day – “Envisioning a Te Tiriti-based future”: Waitangi Day hīkoi in Te Whanganui a Tara/Wellington

    Source: Tiriti Action Group Pōneke

    This Waitangi Day, Tiriti Action Group Pōneke will stage a hīkoi from Pukeahu to Waitangi Park starting at 10am. The Hīkoi is in support of mana whenua Te Kotahitanga o Taranaki Whānui, all tangata whenua and in opposition to the ongoing attacks on Māori, on the environment and on a liveable future.

    “Everyone is invited to join us in this celebration of the kotahitanga that Te Tiriti o Waitangi offers every person in this nation,” said Anaru Ryall spokesperson for Tiriti Action Group.

    “Te Tiriti o Waitangi is a blueprint for a peaceful and just Aotearoa, where Māori rights and decisions are respected, and non-Māori are invited to call this beautiful place home.”

    “But right now, we are facing multiple breaches of Te Tiriti o Waitangi which trample on our enduring relationship, and harms instead of heals historic injustices.”

    “These breaches also limit our future aspirations as a nation where everyone has what they need for a good and dignified life, and our children have hope and opportunity.”

    “Just two months ago we made history – and international news – with 100,000+ people at the Hīkoi mō Te Tiriti. That was just the beginning of our growing movement for real change.”

    “Waitangi Day is another incredible opportunity for everyone in this country to remember our history, and cultivate the relationships we need to have a Te Tiriti-honouring future. This is a future that will nurture the seeds Te Tiriti planted, and ensure we can flourish together as a healthy, sustainable, equitable Aotearoa.”

    The Waitangi Day Hīkoi aims to bring the local community together in the midst of the government’s assaults on Māori and their tino rangatiratanga, as well as the protections that Te Tiriti offers.

    “This will be an event for the whole whānau, including tamariki, kaumatua, and everyone in the community, no matter where you are in your learning journey about Te Tiriti.”

    “We urge especially Tangata Tiriti to come join us and participate in this show of kotahitanga. Our role as allies cannot be understated, and we must stand up and alongside Tangata Whenua in this troubling political climate.”  

    The Hīkoi will begin with a gathering at 10am at Pukeahu (War Memorial). After speeches, the hīkoi will move down to Waitangi Park via Tory Street, in time to join the Mihi Whakatau at the official Waitangi Day events at Waitangi Park.

    Organisers will set up manaaki stations at Pukeahu and Waitangi Park, with activities for tamariki, education and ‘chill space’ for rest.  

    About Tiriti Action Group Pōneke:

    Tiriti Action Group – Pōneke is a community group who supports actions for rangatiratanga, kotahitanga and justice in Te Upoko o te Ika  (Wellington city and Hutt Valley). We operate under the korowai of mana whenua (Te Kotahitanga o Taranaki Whānui ki te Upoko o te Ika) so that we can live based on the relationship that Te Tiriti o Waitangi promised us.

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Waitangi Day – “Envisioning a Te Tiriti-based future”: Waitangi Day hīkoi in Te Whanganui a Tara/Wellington

    Source: Tiriti Action Group Pōneke

    This Waitangi Day, Tiriti Action Group Pōneke will stage a hīkoi from Pukeahu to Waitangi Park starting at 10am. The Hīkoi is in support of mana whenua Te Kotahitanga o Taranaki Whānui, all tangata whenua and in opposition to the ongoing attacks on Māori, on the environment and on a liveable future.

    “Everyone is invited to join us in this celebration of the kotahitanga that Te Tiriti o Waitangi offers every person in this nation,” said Anaru Ryall spokesperson for Tiriti Action Group.

    “Te Tiriti o Waitangi is a blueprint for a peaceful and just Aotearoa, where Māori rights and decisions are respected, and non-Māori are invited to call this beautiful place home.”

    “But right now, we are facing multiple breaches of Te Tiriti o Waitangi which trample on our enduring relationship, and harms instead of heals historic injustices.”

    “These breaches also limit our future aspirations as a nation where everyone has what they need for a good and dignified life, and our children have hope and opportunity.”

    “Just two months ago we made history – and international news – with 100,000+ people at the Hīkoi mō Te Tiriti. That was just the beginning of our growing movement for real change.”

    “Waitangi Day is another incredible opportunity for everyone in this country to remember our history, and cultivate the relationships we need to have a Te Tiriti-honouring future. This is a future that will nurture the seeds Te Tiriti planted, and ensure we can flourish together as a healthy, sustainable, equitable Aotearoa.”

    The Waitangi Day Hīkoi aims to bring the local community together in the midst of the government’s assaults on Māori and their tino rangatiratanga, as well as the protections that Te Tiriti offers.

    “This will be an event for the whole whānau, including tamariki, kaumatua, and everyone in the community, no matter where you are in your learning journey about Te Tiriti.”

    “We urge especially Tangata Tiriti to come join us and participate in this show of kotahitanga. Our role as allies cannot be understated, and we must stand up and alongside Tangata Whenua in this troubling political climate.”  

    The Hīkoi will begin with a gathering at 10am at Pukeahu (War Memorial). After speeches, the hīkoi will move down to Waitangi Park via Tory Street, in time to join the Mihi Whakatau at the official Waitangi Day events at Waitangi Park.

    Organisers will set up manaaki stations at Pukeahu and Waitangi Park, with activities for tamariki, education and ‘chill space’ for rest.  

    About Tiriti Action Group Pōneke:

    Tiriti Action Group – Pōneke is a community group who supports actions for rangatiratanga, kotahitanga and justice in Te Upoko o te Ika  (Wellington city and Hutt Valley). We operate under the korowai of mana whenua (Te Kotahitanga o Taranaki Whānui ki te Upoko o te Ika) so that we can live based on the relationship that Te Tiriti o Waitangi promised us.

    MIL OSI New Zealand News

  • MIL-OSI Asia-Pac: NEXT FIVE YEARS PRESENT A UNIQUE OPPORTUNITY TO REALIZE ‘SABKA VIKAS’; UNION BUDGET 2025-26

    Source: Government of India (2)

    NEXT FIVE YEARS PRESENT A UNIQUE OPPORTUNITY TO REALIZE ‘SABKA VIKAS’; UNION BUDGET 2025-26

    AGRICULTURE, MSME, INVESTMENT, AND EXPORTS TO BE FOUR POWERFUL ENGINES IN JOURNEY OF DEVELOPMENT

    FOCUS ON GARIB, YOUTH, ANNADATA AND NARI IN THE BUDGET

    Posted On: 01 FEB 2025 1:01PM by PIB Delhi

    Next five years is seen as a unique opportunity to realize ‘Sabka Vikas’, said the Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman while presenting the Union Budget 2025-26 in Parliament today. In her budget speech, the Union Finance Minister emphasized on stimulating balanced growth of all regions.

    The Minister highlighted that our economy is the fastest-growing among all major global economies. Our development track record of the past 10 years and structural reforms have drawn global attention. Confidence in India’s capability and potential has only grown in this period, the Minister added.

    The Union Budget 2025-26 highlights Government’s efforts to accelerate growth, secure inclusive development, invigorate private sector investments, uplift household sentiments, and enhance spending power of India’s rising middle class.

    Specifying Agriculture, MSME, Investment, and Exports to be four powerful engines in journey of development, the Minister underlined that this budget aims to initiate transformative reforms across six domains. During the next five years, the domains of Taxation, Power Sector, Urban Development, Mining, Financial Sector and Regulatory Reforms will augment our growth potential and global competitiveness. The Finance Minister said that in the journey of development, “Our Reforms” is the fuel; where, “Inclusivity” is a guiding spirit; and the “Viksit Bharat” is the destination.

    Focussing on Garib, Youth, Annadata and Nari in her Union Budget 2025-26 speech, the Union Finance Minister underscored on proposed development measures spanning ten broad areas. These are namely, Spurring Agricultural Growth and Productivity; Building Rural Prosperity and Resilience; Taking Everyone Together on an Inclusive Growth path; Boosting Manufacturing and Furthering Make in India; Supporting MSMEs; Enabling Employment-led Development; Investing in people, economy and innovation; Securing Energy Supplies; Promoting Exports; and Nurturing Innovation.

    The Union Minister observed that “Viksit Bharat” encompasses zero-poverty; hundred per cent good quality school education; access to high-quality, affordable, and comprehensive healthcare; hundred per cent skilled labour with meaningful employment; seventy per cent women in economic activities; and farmers making our country the ‘food basket of the world’.

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: BUDGET OUTLAY FOR JAL JEEVAN MISSION ENHANCED TO RS. 67,000 CRORE

    Source: Government of India (2)

    BUDGET OUTLAY FOR JAL JEEVAN MISSION ENHANCED TO RS. 67,000 CRORE

    JAL JEEVAN MISSION EXTENDED UNTIL 2028

    MISSION TO ACHIEVE 100% COVERAGE OVER NEXT THREE YEARS

    Posted On: 01 FEB 2025 1:00PM by PIB Delhi

    While presenting the Union Budget 2025-26 in the Parliament today, Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman said that the total budget outlay for Jal Jeevan Mission has been enhanced to Rs 67,000 Crore. She said that the Mission stands extended until 2028.

    Smt. Nirmala Sitharaman stated that 15 crore households representing 80 per cent of India’s rural population have benefitted by the Jal Jeevan Mission since 2019. She added that access to potable tap water connections is provided under this Mission and in the next three years the target is to achieve 100 per cent coverage.

    Jal Jeevan Mission’s focus will be on the quality of infrastructure and O&M of rural piped water supply schemes through “Jan Bhagidhari”. Separate MoUs will be signed with states/UTs, to ensure sustainability and citizen-centric water service delivery, informed Smt. Sitharaman.

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: A NUCLEAR ENERGY MISSION FOR RESEARCH & DEVELOPMENT OF SMALL MODULAR REACTORS (SMR) WILL BE SET UP: BUDGET 2025-26

    Source: Government of India (2)

    A NUCLEAR ENERGY MISSION FOR RESEARCH & DEVELOPMENT OF SMALL MODULAR REACTORS (SMR) WILL BE SET UP: BUDGET 2025-26

    AT LEAST 5 INDIGENOUSLY DEVELOPED SMRS WILL BE OPERATIONALIZED BY 2033

    Posted On: 01 FEB 2025 12:58PM by PIB Delhi

    Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman, while presenting the Budget 2025-2026 in the Parliament today said that a Nuclear Energy Mission for research & development of Small Modular Reactors (SMR) with an outlay of  ` 20,000 crore will be set up. At least 5 indigenously developed SMRs will be operationalized by 2033, she informed.

    Smt. Sitharaman highlighted that development of at least 100 GW of nuclear energy by 2047 is essential for our energy transition efforts. For an active partnership with the private sector towards this goal, amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will be taken up.

    The Budget also proposes that states will be incentivized for electricity distribution reforms and augmentation of intra-state transmission capacity. This will improve financial health and capacity of electricity companies. The Minister informed that additional borrowing of 0.5 per cent of GSDP will be allowed to states, contingent on these reforms.

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: UNION BUDGET 2025-26 PROPOSES TO REMOVE SEVEN CUSTOMS TARIFF RATES FOR INDUSTRIAL GOODS

    Source: Government of India (2)

    UNION BUDGET 2025-26 PROPOSES TO REMOVE SEVEN CUSTOMS TARIFF RATES FOR INDUSTRIAL GOODS

    EXEMPTION TO 36 MORE LIFE SAVING MEDICINES FOR CANCER AND OTHER RARE DISEASES FROM BASIC CUSTOMS DUTY

    BOOST TO E-MOBILITY: 35 ADDITIONAL CAPITAL GOODS FOR EV BATTERY MANUFACTURING EXEMPTED FROM BCD

    PROPOSALS TO SUPPORT DOMESTIC MANUFACTURING AND VALUE ADDITION WHILE PROMOTING EXPORTS, FACILITATING TRADE AND PROVIDING RELIEF TO COMMON PEOPLE

    Posted On: 01 FEB 2025 12:55PM by PIB Delhi

    The Union Budget 2025-26 presented by Union Minister for Finance and Corporate Affairs, Smt Nirmala Sitharaman in parliament today, focuses its customs proposals on rationalizing tariff structure and addressing duty inversion. The Minister said that the proposals will also support domestic manufacturing and value addition while promoting exports, facilitating trade and providing relief to common people.

    Delivering on the promise to review customs rate structure announced in July 2024, the Budget proposes to remove seven customs tariff rates for industrial goods over and above the seven tariff rates removed in Budget 2023-24. This will leave only eight tariff rates, including ‘zero’ rate. The Budget also proposes to levy not more than one cess or surcharge. This will exempt Social Welfare Surcharge on 82 tariff lines that are subject to a cess.

     

    Relief on import of Drugs/Medicines

    In sector specific proposals, the Budget comes as a big relief to patients, particularly to those suffering from cancer, rare diseases and other severe chronic diseases. The Budget proposes to add 36 life saving drugs and medicines to the list of medicines fully exempted from Basic Customs Duty. The Budget also proposes to add 6 life saving medicines to the list attracting concessional customs duty of 5%. Full exemption and concessional duty will also respectively apply on the bulk drugs for manufacture of the above.

    Specified drugs and medicines under Patient Assistance Programmes run by pharmaceutical companies are fully exempt from Basic Customs Duty, provided the medicines are supplied free of cost to patients. The Budget proposes to add 37 more medicines along with 13 new patient assistance programmes to the list.

    Support to Domestic Manufacturing and Value addition

    The Budget proposes to add 35 additional capital goods for EV battery manufacturing, and 28 additional capital goods for mobile phone battery manufacturing to the list of exempted capital goods. “This will boost domestic manufacture of lithium-ion battery, both for mobile phones and electric vehicles”, FM stated in her speech.

    The Budget also proposes to fully exempt Basic Customs Duty on cobalt powder and waste, the scrap of lithium-ion battery, Lead, Zinc and 12 more critical minerals. Finance Minister said that this will help secure their availability for manufacturing in India and promote more jobs for our youth. This is in addition to the 25 critical minerals fully exempted of BCD in July 2024 Budget.

    To promote domestic production of technical textile products such as agro-textiles, medical textiles and geo textiles at competitive prices, the Budget proposes to add two more types of shuttle-less looms to the list of fully exempted textile machinery. “I also propose to revise the BCD rate on knitted fabrics covered by nine tariff lines from “10% or 20%” to “20% or Rs.115 per kg, whichever is higher”, said Finance Minister in her speech.

    In line with the ‘Make in India’ policy, the Budget proposes to increase the BCD on Interactive Flat Panel Display (IFPD) from 10% to 20% and reduce the BCD to 5% on Open Cell and other components. The Minister informed that it will rectify the inverted duty structure.

    Considering the long gestation period of shipbuilding, the Budget proposes to continue the exemption of BCD on raw materials, components, consumables or parts for the manufacture of ships for another ten years. The Budget also proposes the same dispensation for ship breaking to make it more competitive.

    The Budget also proposes to reduce the BCD from 20% to 10% on Carrier Grade ethernet switches to make it at par with Non-Carrier Grade ethernet switches. Finance Minister said that that this will prevent classification disputes.

    Export Promotion

    The Budget also contains certain tax proposals to promote exports. To facilitate exports of handicrafts, it proposes to extend the time period for export from six months to one year, further extendable by another three months, if required. The Budget also proposes to add nine handicraft items to the list of duty-free inputs.

    The Budget also proposes to exempt crust leather from 20% export duty to facilitate exports by small tanners, while fully exempting BCD on Wet Blue leather to facilitate imports for domestic value addition and employment.

    To enhance India’s competitiveness in the global seafood market, the Budget proposes to reduce BCD from 30% to 5% on Frozen Fish Paste (Surimi) for manufacture and export of its analogue products. It also proposes to reduce BCD from 15% to 5% on fish hydrolysate for manufacture of fish and shrimp feeds.

    To promote development of domestic MROs for aircraft and ships, the July 2024 Budget extended the time limit for export of foreign origin goods that were imported for repairs, from 6 months to one year and further extendable by one year. The Budget 2025-26 proposes to extend the same dispensation for railway goods.

    Trade facilitation and Ease of Doing Business

    Presently, the Customs Act, 1962 does not provide any time limit to finalize Provisional Assessments leading to uncertainty and cost to trade. As a measure of promoting ease of doing business, the Budget proposes to fix a time-limit of two years, extendable by a year, for finalizing the provisional assessment.

    The Budget also proposes to introduce a new provision that will enable importers or exporters, after clearance of goods, to voluntarily declare material facts and pay duty with interest but without penalty. “This will incentivize voluntary compliance. However, this will not apply in cases where department has already initiated audit or investigation proceedings”, said Smt Sitharaman.

    The Budget proposes to extend the time limit for the end-use of imported inputs in the relevant rules, from six months to one year. This will not only allow industry to better plan their imports, but also provide operational flexibility in view of cost and uncertainty of supply. Further, such importers will now have to file only quarterly statements instead of a monthly statement.

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: HIGHLIGHTS OF UNION BUDGET 2025-26

    Source: Government of India (2)

    Posted On: 01 FEB 2025 12:42PM by PIB Delhi

    PART A

    Union Minister for Finance and Corporate Affairs Smt Nirmala Sitharaman presented Union Budget 2025-26 in the Parliament today. The highlights of the budget are as follows:

    Budget Estimates 2025-26

    • The total receipts other than borrowings and the total expenditure are estimated at ₹ 34.96 lakh crore and ₹ 50.65 lakh crore respectively.
    • The net tax receipts are estimated at ₹ 28.37 lakh crore.
    • The fiscal deficit is estimated to be 4.4 per cent of GDP.
    • The gross market borrowings are estimated at ₹ 14.82 lakh crore.
    • Capex Expenditure of ₹11.21 lakh crore (3.1% of GDP) earmarked in FY2025-26.

    AGRICULTURE AS THE 1ST ENGINE OF DEVELOPMENT

    Prime Minister Dhan-Dhaanya Krishi Yojana – Developing Agri Districts Programme

    • The programme to be launched in partnership with the states, covering 100 districts with low productivity, moderate crop intensity and below-average credit parameters, to benefit 1.7 crore farmers.

    Building Rural Prosperity and Resilience

    • A comprehensive multi-sectoral programme to be launched in partnership with states to address under-employment in agriculture through skilling, investment, technology, and invigorating the rural economy.
    • Phase-1 to cover 100 developing agri-districts.

    Aatmanirbharta in Pulses

    • Government to launch a 6-year “Mission for Aatmanirbharta in Pulses” with focus on Tur, Urad and Masoor.
    • NAFED and NCCF to procure these pulses from farmers during the next 4 years.

    Comprehensive Programme for Vegetables & Fruits

    • A comprehensive programme to promote production, efficient supplies, processing, and remunerative prices for farmers to be launched in partnership with states.

    Makhana Board in Bihar

    • A Makhana Board to be established to improve production, processing, value addition, and marketing of makhana.

     

    National Mission on High Yielding Seeds

    • A National Mission on High Yielding Seeds to be launched aiming at strengthening the research ecosystem, targeted development and propagation of seeds with high yield, and commercial availability of more than 100 seed varieties.

    Fisheries

    • Government to bring a framework for sustainable harnessing of fisheries from Indian Exclusive Economic Zone and High Seas, with a special focus on the Andaman & Nicobar and Lakshadweep Islands.

    Mission for Cotton Productivity

    • A 5-year mission announced to facilitate significant improvements in productivity and sustainability of cotton farming, and promote extra-long staple cotton varieties.

    Enhanced Credit through KCC

    • The loan limit under the Modified Interest Subvention Scheme to be enhanced from ₹ 3 lakh to ₹ 5 lakh for loans taken through the KCC.

    Urea Plant in Assam

    • A plant with annual capacity of 12.7 lakh metric tons to be set up at Namrup, Assam.

    MSMEs AS THE 2ND ENGINE OF DEVELOPMENT

    Revision in classification criteria for MSMEs

    • The investment and turnover limits for classification of all MSMEs to be enhanced to 2.5 and 2 times respectively.

    Credit Cards for Micro Enterprises

    • Customized Credit Cards with ₹ 5 lakh limit for micro enterprises registered on Udyam portal, 10 lakh cards to be issued in the first year.

    Fund of Funds for Startups

    • A new Fund of Funds, with expanded scope and a fresh contribution of ₹ 10,000 crore to be set up.

    Scheme for First-time Entrepreneurs

    • A new scheme for 5 lakh women, Scheduled Castes and Scheduled Tribes first-time entrepreneurs to provide term-loans upto ₹ 2 crore in the next 5 years announced.

    Focus Product Scheme for Footwear & Leather Sectors

    • To enhance the productivity, quality and competitiveness of India’s footwear and leather sector, a focus product scheme announced to facilitate employment for 22 lakh persons, generate turnover of ₹ 4 lakh crore and exports of over ₹ 1.1 lakh crore.

    Measures for the Toy Sector

    • A scheme to create high-quality, unique, innovative, and sustainable toys, making India a global hub for toys announced.

    Support for Food Processing

    • A National Institute of Food Technology, Entrepreneurship and Management to be set up in Bihar.

    Manufacturing Mission – Furthering “Make in India”

    • A National Manufacturing Mission covering small, medium and large industries for furthering “Make in India” announced.

    INVESTMENT AS THE 3RD ENGINE OF DEVELOPMENT

    1. Investing in People

    Saksham Anganwadi and Poshan 2.0

    • The cost norms for the nutritional support to be enhanced appropriately.

    Atal Tinkering Labs

    • 50,000 Atal Tinkering Labs to be set up in Government schools in next 5 years.

    Broadband Connectivity to Government Secondary Schools and PHCs

    • Broadband connectivity to be provided to all Government secondary schools and primary health centres in rural areas under the Bharatnet project.

    Bharatiya Bhasha Pustak Scheme

    • Bharatiya Bhasha Pustak Scheme announced to provide digital-form Indian language books for school and higher education.

    National Centres of Excellence for Skilling

    • 5 National Centres of Excellence for skilling to be set up with global expertise and partnerships to equip our youth with the skills required for “Make for India, Make for the World” manufacturing.

    Expansion of Capacity in IITs

    • Additional infrastructure to be created in the 5 IITs started after 2014 to facilitate education for 6,500 more students.

    Centre of Excellence in AI for Education

    • A Centre of Excellence in Artificial Intelligence for education to be set up with a total outlay of ₹ 500 crore.

    Expansion of medical education

    • 10,000 additional seats to be added in medical colleges and hospitals next year, adding to 75000 seats in the next 5 years.

    Day Care Cancer Centres in all District Hospitals

    • Government to set up Day Care Cancer Centres in all district hospitals in the next 3 years, 200 Centres  in 2025-26.

    Strengthening urban livelihoods

    • A scheme for socio-economic upliftment of urban workers to help them improve their incomes and have sustainable livelihoods announced.

    PM SVANidhi

    • Scheme to be revamped with enhanced loans from banks, UPI linked credit cards with ₹ 30,000 limit, and capacity building support.

    Social Security Scheme for Welfare of Online Platform Workers

    • Government to arrange for identity cards, registration on e-Shram portal and healthcare under PM Jan Arogya Yojna, for gig-workers.

     

    1. Investing in the Economy

    Public Private Partnership in Infrastructure

    • Infrastructure-related ministries to come up with a 3-year pipeline of projects in PPP mode, States also encouraged.

    Support to States for Infrastructure

    • An outlay of ₹1.5 lakh crore proposed for the 50-year interest free loans to states for capital expenditure and incentives for reforms.

    Asset Monetization Plan 2025-30

    • Second Plan for 2025-30 to plough back capital of ₹ 10 lakh crore in new projects announced.

    Jal Jeevan Mission

    • Mission to be extended until 2028 with an enhanced total outlay.

    Urban Challenge Fund

    • An Urban Challenge Fund of ₹ 1 lakh crore announced to implement the proposals for ‘Cities as Growth Hubs’, ‘Creative Redevelopment of Cities’ and ‘Water and Sanitation’, allocation of ₹ 10,000 crore proposed for 2025-26.

    Nuclear Energy Mission for Viksit Bharat

    • Amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act to be taken up.
    • Nuclear Energy Mission for research & development of Small Modular Reactors (SMR) with an outlay of ₹20,000 crore to be set up, 5 indigenously developed SMRs to be operational by 2033.

    Shipbuilding

    • The Shipbuilding Financial Assistance Policy to be revamped.
    • Large ships above a specified size to be included in the infrastructure harmonized master list (HML).

    Maritime Development Fund

    • A Maritime Development Fund with a corpus of ₹ 25,000 crore to be set up, with up to 49 per cent contribution by the Government, and the balance from ports and private sector.

    UDAN – Regional Connectivity Scheme

    • A modified UDAN scheme announced to enhance regional connectivity to 120 new destinations and carry 4 crore passengers in the next 10 years.
    • Also to support helipads and smaller airports in hilly, aspirational, and North East region districts.

    Greenfield Airport in Bihar

    • Greenfield airports announced in Bihar, in addition to the expansion of the capacity of Patna airport and a brownfield airport at Bihta.

    Western Koshi Canal Project in Mithilanchal

    • Financial support for the Western Koshi Canal ERM Project in Bihar.

    Mining Sector Reforms

    • A policy for recovery of critical minerals from tailings to be brought out.

    SWAMIH Fund 2

    • A fund of ₹ 15,000 crore aimed at expeditious completion of another 1 lakh dwelling units, with contribution from the Government, banks and private investors announced.

    Tourism for employment-led growth

    • Top 50 tourist destination sites in the country to be developed in partnership with states through a challenge mode.

     

    1. Investing in Innovation

    Research, Development and Innovation

    • ₹20,000 crore to be allocated to implement private sector driven Research, Development and Innovation initiative announced in the July Budget.

    Deep Tech Fund of Funds

    • Deep Tech Fund of Funds to be explored to catalyze the next generation startups.

    PM Research Fellowship

    • 10,000 fellowships for technological research in IITs and IISc with enhanced financial support.

    Gene Bank for Crops Germplasm

    • 2nd Gene Bank with 10 lakh germplasm lines to be set up for future food and nutritional security.

    National Geospatial Mission

    • A National Geospatial Mission announced to develop foundational geospatial infrastructure and data.

    Gyan Bharatam Mission

    • A Gyan Bharatam Mission for survey, documentation and conservation of our manuscript heritage with academic institutions, museums, libraries and private collectors to be undertaken to cover more than 1 crore manuscripts announced.

    EXPORTS AS THE 4TH ENGINE OF DEVELOPMENT

    Export Promotion Mission

    • An Export Promotion Mission, with sectoral and ministerial targets, driven jointly by the Ministries of Commerce, MSME, and Finance to be set up.

    BharatTradeNet

    • ‘BharatTradeNet’ (BTN) for international trade to be set-up as a unified platform for trade documentation and financing solutions.

    National Framework for GCC

    • A national framework to be formulated as guidance to states for promoting Global Capability Centres in emerging tier 2 cities.

    REFORMS AS FUEL: FINANCIAL SECTOR REFORMS AND DEVELOPMENT

    FDI in Insurance Sector

    • The FDI limit for the insurance sector to be raised from 74 to 100 per cent, for those companies which invest the entire premium in India.

    Credit Enhancement Facility by NaBFID

    • NaBFID to set up a ‘Partial Credit Enhancement Facility’ for corporate bonds for infrastructure.

    Grameen Credit Score

    • Public Sector Banks to develop ‘Grameen Credit Score’ framework to serve the credit needs of SHG members and people in rural areas.

    Pension Sector

    • A forum for regulatory coordination and development of pension products to be set up.

    High Level Committee for Regulatory Reforms

    • A High-Level Committee for Regulatory Reforms to be set up for a review of all non-financial sector regulations, certifications, licenses, and permissions.

    Investment Friendliness Index of States

    • An Investment Friendliness Index of States to be launched in 2025 to further the spirit of competitive cooperative federalism anounced.

    Jan Vishwas Bill 2.0

    • The Jan Vishwas Bill 2.0 to decriminalize more than 100 provisions in various laws.

     

    PART B

     

    DIRECT TAX

     

    • No personal income tax payable upto income of Rs 12 lakh (i.e. average income of Rs 1 lakh per month other than special rate income such as capital gains) under the new regime.
    • This limit will be Rs 12.75 lakh for salaried tax payers, due to standard deduction of Rs 75,000.
    • The new structure will substantially reduce the taxes of the middle class and leave more money in their hands, boosting household consumption, savings and investment.
    • The new Income-Tax Bill to be clear and direct in text so as to make it simple to understand for taxpayers and tax administration, leading to tax certainty and reduced litigation.
    • Revenue of about ₹ 1 lakh crore in direct taxes will be forgone.

     

    • Revised tax rate structure

     

    • In the new tax regime, the revised tax rate structure will stand as follows:

     

    0-4 lakh rupees

    Nil

    4-8 lakh rupees

    5 percent

    8-12 lakh rupees

    10 percent

    12-16 lakh rupees

    15 percent

    16-20 lakh rupees

    20 percent

    20- 24 lakh rupees

    25 percent

    Above 24 lakh rupees

    30 percent

     

     

    • TDS/TCS rationalization for easing difficulties

     

    • Rationalization of Tax Deduction at Source (TDS) by reducing number of rates and thresholds above which TDS is deducted.
    • The limit for tax deduction on interest for senior citizens doubled from the present Rs 50,000 to Rs 1 lakh.
    • The annual limit of Rs 2.40 lakh for TDS on rent increased to Rs 6 lakh.
    • The threshold to collect tax at source (TCS) on remittances under RBI’s Liberalized Remittance Scheme (LRS) increased from Rs 7 lakh to Rs 10 lakh.
    • The provisions of the higher TDS deduction will apply only in non-PAN cases.
    • Decriminalization for the cases of delay of payment of TCS up to the due date of filing statement.

     

     

    • Reducing Compliance Burden

     

    • Reduction of compliance burden for small charitable trusts/institutions by increasing their period of registration from 5 years to 10 years.

     

    • The benefit of claiming the annual value of self-occupied properties as nil will be extended for two such self-occupied properties without any condition.

     

    • Ease of Doing Business

     

    • Introduction of a scheme for determining arm’s length price of international transaction for a block period of three years.
    • Expansion of the scope of safe harbour rules to reduce litigation and provide certainty in international taxation.
    • Exemption of withdrawals made from National Savings Scheme (NSS) by individuals on or after the 29th of August, 2024.
    • Similar treatment to NPS Vatsalya accounts as is available to normal NPS accounts, subject to overall limits.

     

    • Employment and Investment

     

    Tax certainty for electronics manufacturing Schemes

     

    • Presumptive taxation regime for non-residents who provide services to a resident company that is establishing or operating an electronics manufacturing facility.
    • Introduction of a safe harbour for tax certainty for non-residents who store components for supply to specified electronics manufacturing units.

     

    Tonnage Tax Scheme for Inland Vessels

     

    The benefits of existing tonnage tax scheme to be extended to inland vessels registered  under the Indian Vessels Act, 2021 to promote inland water transport in the country.

     

     

    • Extension for incorporation of Start-Ups

    Extension of the period of incorporation by 5 years to allow the benefit available to start-ups incorporated before 1.4.2030.

     

     

    • Alternate Investment Funds (AIFs)

     

    Certainty of taxation on the gains from securities to Category I and Category II AIFs which are undertaking investments in infrastructure and other such sectors.

     

     

    • Extension of investment date for Sovereign and Pension Funds

     

    Extension of the date of making investments in Sovereign Wealth Funds and Pension Funds by five more years, to 31st March, 2030, to promote funding from them to the infrastructure sector.

     

     

    INDIRECT TAX

    Rationalisation of Customs Tariff Structure for Industrial Goods

    Union Budget 2025-26 proposes to:

    1. Remove seven tariff rates. This is over and above the seven tariff rates removed in 2023-24 budget. After this, there will be only eight remaining tariff rates including ‘zero’ rate.
    2. Apply appropriate cess to broadly maintain effective duty incidence except on a few items, where such incidence will reduce marginally.
    3. Levy not more than one cess or surcharge. Therefore Social Welfare Surcharge on 82 tariff lines that are subject to a cess, exempted.

    Revenue of about ₹ 2600 crore in indirect taxes will be forgone.

    Relief on import of Drugs/Medicines

    • 36 lifesaving drugs and medicines fully exempted from Basic Customs Duty (BCD).
    • 6 lifesaving medicines to attract concessional customs duty of 5%.
    • Specified drugs and medicines under Patient Assistance Programmes run by pharmaceutical companies fully exempted from BCD; 37 more medicines added along with 13 new patient assistance programmes.

    Support to Domestic Manufacturing and Value addition

    • Critical Minerals :
      • Cobalt powder and waste, the scrap of lithium-ion battery, Lead, Zinc and 12 more critical minerals fully exempted from BCD.
    • Textiles:
      • Two more types of shuttle-less looms fully exempted textile machinery.
      • BCD rate on knitted fabrics revised from “10% or 20%” to “20% or ` 115 per kg, whichever is higher.
    • Electronic Goods:
      • BCD on Interactive Flat Panel Display (IFPD) increased from 10% to 20% .
      • BCD reduced to 5% on Open Cell and other components.
      • BCD on parts of Open Cells exempted.
    • Lithium Ion Battery:
      • 35 additional capital goods for EV battery manufacturing, and 28 additional capital goods for mobile phone battery manufacturing exempted.
    •  Shipping Sector
      • Exemption of BCD on raw materials, components, consumables or parts for the manufacture of ships extended for another ten years.
      • The same dispensation to continue for ship breaking.
    • Telecommunication
      • BCD reduced from 20% to 10% on Carrier Grade ethernet switches.

    Export Promotion

    • Handicraft Goods:
      • Time period for export extended  from six months to one year, further extendable by another three months, if required.
      • Nine items added to list of duty-free inputs.
    • Leather sector:         
      • BCD on Wet Blue leather fully exempted.
      • Crust leather exempted from 20% export duty.
    • Marine products:
      • BCD reduced from 30% to 5% on Frozen Fish Paste (Surimi) for manufacture and export of its analogue products.
      • BCD reduced from 15% to 5% on fish hydrolysate for manufacture of fish and shrimp feeds.
    • Domestic MROs for Railway Goods
      • Railways MROs to benefit similar to the aircraft and ships MROs in terms of import of repair items.
      • Time limit extended for export of such items from 6 months to one year and made further extendable by one year.

    Trade facilitation

    • Time limit for Provisional Assessment
      • For finalising the provisional assessment, time-limit of two years fixed, extendable by a year.
    • Voluntary Compliance:
      • A new provision introduced to enable importers or exporters, after clearance of goods, to voluntarily declare material facts and pay duty with interest but without penalty.
    • Extended Time for End Use:
      • Time limit for the end-use of imported inputs in the relevant rules extended from six months to one year.
      • Such importers to file only quarterly statements instead of a monthly statement.

    *****

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    (Release ID: 2098353) Visitor Counter : 643

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: SUMMARY OF UNION BUDGET 2025-26

    Source: Government of India (2)

    Posted On: 01 FEB 2025 12:36PM by PIB Delhi

    NO INCOME TAX ON AVERAGE MONTHLY INCOME OF UPTO RS 1 LAKH; TO BOOST MIDDLE CLASS HOUSEHOLD SAVINGS & CONSUMPTION

    SALARIED CLASS TO PAY NIL INCOME TAX UPTO ₹ 12.75 LAKH PER ANNUM IN NEW TAX REGIME

    UNION BUDGET RECOGNISES 4 ENGINES OF DEVELOPMENT – AGRICULTURE, MSME, INVESTMENT AND EXPORTS

    BENEFITTING 1.7 CRORE FARMERS, ‘PRIME MINISTER DHAN-DHAANYA KRISHI YOJANA’ TO COVER 100 LOW AGRICULTURAL PRODUCTIVITY DISTRICTS

    “MISSION FOR AATMANIRBHARTA IN PULSES” WITH A SPECIAL FOCUS ON TUR, URAD AND MASOOR TO BE LAUNCHED

    LOANS UPTO Rs. 5 LAKHS THROUGH KCC UNDER MODIFIED INTEREST SUBVENTION SCHEME

    FY-25 ESTIMATED TO END WITH FISCAL DEFICIT OF 4.8%, TARGET TO BRING IT DOWN TO 4.4% IN FY-26

    SIGNIFICANT ENHANCEMENT OF CREDIT WITH GUARANTEE COVER TO MSMEs FROM ₹ 5 CR TO ₹ 10 CR

    A NATIONAL MANUFACTURING MISSION COVERING SMALL, MEDIUM AND LARGE INDUSTRIES FOR FURTHERING “MAKE IN INDIA”

    50,000 ATAL TINKERING LABS IN GOVERNMENT SCHOOLS IN NEXT 5 YEARS

    CENTRE OF EXCELLENCE IN ARTIFICIAL INTELLIGENCE FOR EDUCATION, WITH A TOTAL OUTLAY OF ₹ 500 CRORE

    PM SVANIDHI WITH ENHANCED LOANS FROM BANKS, AND UPI LINKED CREDIT CARDS WITH ₹ 30,000 LIMIT

    GIG WORKERS TO GET IDENTITY CARDS, REGISTRATION ON E-SHRAM PORTAL &  HEALTHCARE UNDER PM JAN AROGYA YOJANA

    ₹ 1 LAKH CRORE URBAN CHALLENGE FUND FOR ‘CITIES AS GROWTH HUBS’

    NUCLEAR ENERGY MISSION FOR R&D OF SMALL MODULAR REACTORS WITH AN OUTLAY OF ₹ 20,000 CRORE

    MODIFIED UDAN SCHEME TO ENHANCE REGIONAL CONNECTIVITY TO 120 NEW DESTINATIONS

    ₹ 15,000 CRORE SWAMIH FUND TO BE ESTABLISHED FOR EXPEDITIOUS COMPLETION OF ANOTHER 1 LAKH STRESSED HOUSING UNITS

    ₹ 20,000 CRORE ALLOCATED FOR PRIVATE SECTOR DRIVEN RESEARCH DEVELOPMENT AND INNOVATION INITIATIVES

    GYAN BHARATAM MISSION FOR SURVEYAND CONSERVATION OF MANUSCRIPTS TO COVER MORE THAN ONE CRORE MANUSCRIPTS

    FDI LIMIT ENHANCED FOR INSURANCE FROM 74 TO 100 PER CENT

    JAN VISHWAS BILL 2.0 TO BE INTRODUCED FOR DECRIMINALISING MORE THAN 100 PROVISIONS IN VARIOUS LAWS

    UPDATED INCOME TAX RETURNS TIME LIMIT INCREASED FROM TWO TO FOUR YEARS

    DELAY IN TCS PAYMENT DECRIMINALISED

    TDS ON RENT INCREASED FROM ₹ 2.4 LAKH TO ₹ 6 LAKH

    BCD EXEMPTED ON 36 LIFESAVING DRUGS AND MEDICINES FOR TREATING CANCER, RARE AND CHRONIC DISEASES

    BCD ON IFPD INCREASED TO 20% AND ON OPEN CELLS REDUCED TO 5%

    BCD ON PARTS OF OPEN CELLS EXEMPTED TO PROMOTE DOMESTIC MANUFACTURING

    TO BOOST BATTERY PRODUCTION, ADDITIONAL CAPITAL GOODS FOR EV AND MOBILE BATTERY MANUFACTURING EXEMPTED

    BCD EXEMPTED FOR 10 YEARS ON RAW MATERIALS & COMPONENTS USED FOR SHIP BUILDING

    BCD REDUCED FROM 30% TO 5% ON FROZEN FISH PASTE AND 15% TO 5% ON FISH HYDROLYSATE

     

    Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2025-26 in Parliament today. Here is the summary of her budget speech;

    PART A

     

    Quoting Telugu poet and playwright Shri Gurajada Appa Rao’s famous saying, ‘A country is not just its soil; a country is its people.’ – the Finance Minister presented the Union Budget 2025-26 with the theme “Sabka Vikas” stimulating balanced growth of all regions.

    In line with this theme, the Finance Minister outlined the broad Principles of Viksit Bharat to encompass the following:

    a) Zero-poverty;

     b) Hundred per cent good quality school education;

    c) Access to high-quality, affordable, and comprehensive healthcare;

    d) Hundred per cent skilled labour with meaningful employment;

    e) Seventy per cent women in economic activities; and

    f) Farmers making our country the ‘food basket of the world’.

    The Union Budget 2025-2026 promises to continue Government’s efforts to accelerate growth, secure inclusive development, invigorate private sector investments, uplift household sentiments, and enhance spending power of India’s rising middle class. The Budget proposes development measures focusing on poor (Garib), Youth, farmer (Annadata) and women (Nari).

    The Budget aims to initiate transformative reforms in Taxation, Power Sector, Urban Development, Mining, Financial Sector, and Regulatory Reforms to augment India’s growth potential and global competitiveness.

    Union Budget highlights that Agriculture, MSME, Investment, and Exports are engines in the journey to Viksit Bharat using reforms as fuel, guided by the spirit of inclusivity.

     

    1st Engine: Agriculture

    Budget announced ‘Prime Minister Dhan-Dhaanya Krishi Yojana’ in partnership with states covering 100 districts to increase productivity, adopt crop diversification, augment post-harvest storage, improve irrigation facilities, and facilitate availability of long-term and short-term credit.

    A comprehensive multi-sectoral ‘Rural Prosperity and Resilience’ programme will be launched in partnership with states to address underemployment in agriculture through skilling, investment, technology, and invigorating the rural economy. The goal is to generate ample opportunities in rural areas, with focus on rural women, young farmers, rural youth, marginal and small farmers, and landless families.

    Union Finance Minister announced that Government will launch a 6-year “Mission for Aatmanirbharta in Pulses” with special focus on Tur, Urad and Masoor. Central agencies (NAFED and NCCF) will be ready to procure these 3 pulses, as much as offered during the next 4 years from farmers.

    The Budget has outlined measures to Comprehensive Programme for Vegetables & Fruits, National Mission on High Yielding Seeds, and a five year Mission for Cotton Productivity amongst other measures to promote agriculture and allied activities in a major way.

    Smt. Sitharaman announced the increase in loan limits from Rs. 3 lakh to Rs. 5 lakh for loans taken through Kisan Credit Cards under modified interest subvention scheme.

     

    2nd Engine: MSMEs

    Finance Minister described MSMEs as the second power engine for development as they constitute for 45% of our exports. To help MSMEs achieve higher efficiencies of scale, technological upgradation and better access to capital, the investment and turnover limits for classification of all MSMEs enhanced to 2.5 and 2 times, respectively. Further, steps to enhance credit availability with guarantee cover have also been announced.

    The Finance Minister also announced the launch of a new scheme for 5 lakh women, Scheduled Castes and Scheduled Tribes first-time entrepreneurs. This will provide term loans up to Rs. 2 crore during the next 5 years.

    Smt. Sitharaman announced that the Government will also implement a scheme to make India a global hub for toys representing the ‘Made in India’ brand. She added that the Government will set up a National Manufacturing Mission covering small, medium and large industries for furthering “Make in India”.

    3rd Engine: Investment

    Defining Investment as the third engine of growth, the Union Minister prioritized investment in people, economy and innovation. 

    Under the investment in people, she announced that 50,000 Atal Tinkering Labs will be set up in Government schools in next 5 years.

    Smt. Nirmala Sitharaman announced that broadband connectivity will be provided to all Government secondary schools and primary health centres in rural areas under the Bharatnet project.

    She said Bharatiya Bhasha Pustak Scheme will be implemented to provide digital-form Indian language books for school and higher education.

    Five National Centres of Excellence for skilling will be set up with global expertise and partnerships to equip our youth with the skills required for “Make for India, Make for the World” manufacturing.

    A Centre of Excellence in Artificial Intelligence for education will be set up with a total outlay of 500 crore.

    Budget announced that Government will arrange for Gig workers’ identity cards, their registration on the e-Shram portal and healthcare under PM Jan Arogya Yojana.

    Under the investment in Economy, Smt Sitharaman said Infrastructure-related ministries will come up with a 3-year pipeline of projects in PPP mode.

    She added that an outlay of Rs 1.5 lakh crore was proposed for the 50-year interest free loans to states for capital expenditure and incentives for reforms.

    She also announced the second Asset Monetization Plan 2025-30 to plough back capital of Rs 10 lakh crore in new projects.

    The Jal Jeevan Mission was extended till 2028 with focus on the quality of infrastructure and Operation & Maintenance of rural piped water supply schemes through “Jan Bhagidhari”.

    Government will set up an Urban Challenge Fund of Rs.1 lakh crore to implement the proposals for ‘Cities as Growth Hubs’, ‘Creative Redevelopment of Cities’ and ‘Water and Sanitation’.

    Under the investment in Innovation, an allocation of ₹20,000 crore is announced to implement private sector driven Research, Development and Innovation initiative.

    Finance Minister proposed National Geospatial Mission to develop foundational geospatial infrastructure and data which will benefit urban planning.

    Budget proposes Gyan Bharatam Mission, for survey, documentation and conservation of  more than 1 crore manuscripts with academic institutions, museums, libraries and private collectors. A National Digital Repository of Indian knowledge systems for knowledge sharing is also proposed.

    4th Engine: Exports

    Smt. Sitharaman defined Exports as the fourth engine of growth and said that jointly driven by the Ministries of Commerce, MSME, and Finance; Export Promotion Mission will help MSMEs tap into the export market. She added that a digital public infrastructure, ‘BharatTradeNet’ (BTN) for international trade was proposed as a unified platform for trade documentation and financing solutions.

    The Finance Minister mentioned that support will be provided to develop domestic manufacturing capacities for our economy’s integration with global supply chains. She also announced that government will support the domestic electronic equipment industry for leveraging the opportunities related to Industry 4.0. A National Framework has also been proposed for promoting Global Capability Centres in emerging tier 2 cities.

    The government will facilitate upgradation of infrastructure and warehousing for air cargo including high value perishable horticulture produce.

    Reforms as the Fuel

    Defining Reforms as the fuel to the engine, Smt. Sitharaman said that over the past 10 years, the Government had implemented several reforms for convenience of tax payers, such as faceless assessment, tax payers charter, faster returns, almost 99 per cent returns being on self-assessment, and Vivad se Vishwas scheme. Continuing with these efforts, she reaffirmed the commitment of the tax department to “trust first, scrutinize later”.

    Financial Sector Reforms and Development

    In a demonstrated steadfast commitment of the Government towards ‘Ease of Doing Business’, the Union Finance Minister proposed changes across the length and breadth of the financial landscape in India to ease compliance, expand services, build strong regulatory environment, promote international and domestic investment, and decriminalisation of archaic legal provisions.

    The Union Finance Minister proposed to raise the Foreign Direct Investment (FDI) limit for the insurance from 74 to 100 per cent, to be available for those companies that invest the entire premium in India.

    Smt. Sitharaman proposed a light-touch regulatory framework based on principles and trust to unleash productivity and employment. She proposed four specific measures to develop this modern, flexible, people-friendly, and trust-based regulatory framework for the 21st first century, viz.:

    1. High Level Committee for Regulatory Reforms
    • To review all non-financial sector regulations, certifications, licenses, and permissions.
    • To strengthen trust-based economic governance and take transformational measures to enhance ‘ease of doing business’, especially in matters of inspections and compliances
    • To make recommendations within a year
    • States will be encouraged to be onboarded

     

    1. Investment Friendliness Index of States
    • An Investment Friendliness Index of States will be launched in 2025 to further the spirit of competitive cooperative federalism.

     

    1. Mechanism under the Financial Stability and Development Council (FSDC)
    • Mechanism to evaluate impact of the current financial regulations and subsidiary instructions.
    • Formulate a framework to enhance their responsiveness and development of the financial sector.

     

    1. Jan Vishwas Bill 2.0
    • To decriminalise more than 100 provisions in various laws.

    Fiscal Consolidation

    Reiterating the commitment to stay the course for fiscal consolidation, the Union Finance Minister stated that the Government endeavours to keep the fiscal deficit each year such that the Central Government debt remains on a declining path as a percentage of the GDP and the detailed roadmap for the next 6 years has been detailed in the FRBM statement. Smt. Sitharaman stated that the Revised Estimate 2024-25 of fiscal deficit is 4.8 per cent of GDP, while the Budget Estimates 2025-26 is estimated to be 4.4 per cent of GDP.

    Revised Estimates 2024-25

    The Minister said that the Revised Estimate of the total receipts other than borrowings is ₹31.47 lakh crore, of which the net tax receipts are ₹25.57 lakh crore. She added that the Revised Estimate of the total expenditure is ₹47.16 lakh crore, of which the capital expenditure is about ₹10.18 lakh crore.

    Budget Estimates 2025-26

    For FY 2025-26, the Union Finance Minister stated that the total receipts other than borrowings and the total expenditure are estimated at ₹34.96 lakh crore and ₹50.65 lakh crore respectively. The net tax receipts are estimated at ₹28.37 lakh crore.

    PART B

    Reposing faith on middle class in nation building, the Union Budget 2025-26 proposes new direct tax slabs and rates under the new income tax regime so that no income tax is needed to be paid for total income upto ₹ 12 Lakh per annum, i.e. average income of Rs 1 Lakh per month, other than special rate income such as Capital Gain. Salaried individuals earning upto ₹ 12.75 Lakh per annum will pay NIL tax, due to standard deduction of ₹ 75,000. Towards the new tax structure and other direct tax proposals, Government is set to lose revenue of about ₹ 1 lakh crore.

    Under the guidance of Prime Minister Shri Narendra Modi, the Government has taken steps to understand the needs voiced by the people. The direct tax proposals include personal income tax reform with special focus on middle class, TDS/TCS rationalization, encouragement to voluntary compliances along with reduction of compliance burden, ease of doing business and incentivizing employment and investment.

    The Budget proposes revised tax rate structure under the new tax regime as follows;

    Total Income per annum

    Rate of Tax

    ₹ 0 – 4 Lakh

    NIL

     ₹ 4 – 8 Lakh

    5%

    ₹ 8 – 12 Lakh

    10%

    ₹ 12 – 16 Lakh

    15%

    ₹ 16 – 20 Lakh

    20%

    ₹ 20 – 24 Lakh

    25%

    Above ₹ 24 Lakh

    30%

    To rationalize TDS/TCS, Budget doubles limit for tax deduction on interest earned by senior citizens from the present ₹ 50,000 to ₹ 1 Lakh. Further, TDS threshold on rent has been increased to ₹ 6 Lakh from ₹ 2.4 Lakh per annum. Other measures include, increasing of threshold to collect TCS to ₹ 10 Lakh and continuing with higher TDS deductions only in non-PAN cases. After the decriminalization of delay in payment of TDS, delay in TCS payments has now been decriminalized.

    Encouraging voluntary compliance, Budget extends time-limit to file updated returns for any assessment year, from the current limit of two years, to four years. Over 90 Lakh taxpayers paid additional tax to update their income. Small charitable trusts/institutions have been given the benefit by increasing their period of registration from 5 to 10 years, reducing compliance burden. Further, tax payers can now claim annual value of two self-occupied properties as NIL, without any condition. Last budget’s Vivad Se Vishwas Scheme has received a great response, with nearly 33,000 tax payers having availed the scheme to settle their disputes. Giving benefits to senior and very senior citizens, withdrawals made from National Savings Scheme Accounts on or after 29th of August, 2024 have been exempted. NPS Vatsalya accounts also to get similar benefits.

    For ease of doing business, Budget introduces a scheme for determining arm’s length price of international transaction for a block period of three years. This is in line with global best practices. Further, self harbor rules are being expanded to provide certainty in international taxation.

    To promote employment and investment, a presumptive taxation regime is envisaged for non-residents who provide services to a resident company that is establishing or operating an electronics manufacturing facility. Further, benefits of existing tonnage tax scheme are proposed to be extended to inland vessels. To promote start-up ecosystem, period of incorporation has been extended for a period of 5 years. To promote investment in the infrastructure sector, Budget extends the date of making investment in Sovereign Wealth Funds and Pension Funds by five more years, to 31st March, 2030.

    As part of rationalization of Customs tariffs of industrial goods, Budget proposes to; (i) Remove seven tariffs, (ii) apply appropriate cess to maintain effective duty incidence, and (iii) levy not more than one cess or surcharge.

    As relief on import of Drugs/Medicines, 36 lifesaving drugs and medicines for treating cancer, rare diseases and chronic diseases have been fully exempted from Basic Customs Duty (BCD). Further, 37 medicines along with 13 new drugs and medicines under Patient Assistance Programmes have been exempted from Basic Customs Duty (BCD), if supplied free to patients.

    To support Domestic Manufacturing and Value Addition, BCD on 25 critical minerals, that were not domestically available, were exempted in July 2024. The Budget 2025-26 fully exempts cobalt powder and waste, scrap of lithium-ion battery, Lead, Zinc and 12 more critical minerals. To promote domestic textile production, two more types of shuttle-less looms added to fully exempted textile machinery. Further, BCD on knitted fabrics covering nine tariff lines from “10% to 20%” revised to “20% or ₹ 115 kg, whichever is higher”.

    To rectify inverted duty structure and promote “Make in India”, BCD on Interactive Flat Panel Display (IFPD) increased to 20% and on Open cells reduced to 5%. Further to promote manufacture of Open cells, BCD on parts of Open Cells stands exempted.

    To boost manufacturing of Lithion-ion battery in the country, 35 additional capital goods for EV battery manufacturing, and 28 additional capital goods for mobile phone battery manufacturing added to the list of exempted capital goods. Union Budget 2025-26 also continues exemption on BCD on raw materials, components, consumables or parts for ship building for another ten years. Budget also reduced BCD from 20% to 10% on Carrier Grade ethernet switches to make it at par with Non-Carrier Grade ethernet switches.

    For export promotion, Budget 2025-26 facilitates exports of handicrafts, fully exempts BCD on Wet Blue leather for value addition and employment, reduce BCD from 30% to 5% on Frozen Fish Paste and reduce BCD from 15% to 5% on fish hydrolysate for manufacture of fish and shrimp feeds.

    Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman said that Democracy, Demography and Demand are key pillars of Viksit Bharat journey. She said that the middle class gives strength of India’s growth and the Government has periodically hiked the ‘Nil tax’ slab in recognition to their contribution. She said the proposed new tax structure will substantially boost consumption, savings and investment, by putting more money in the hands of the middle class.

    *****

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  • MIL-OSI Asia-Pac: LAUNCH OF 9th AMMUNITION CUM TORPEDO CUM MISSILE (ACTCM) BARGE, LSAM 23 (YARD 133)

    Source: Government of India (2)

    Posted On: 01 FEB 2025 11:52AM by PIB Delhi

    Launching ceremony of 9th ACTCM Barge, LSAM 23 (Yard 133) was held on 31 Jan 25 at M/s Suryadipta Projects Pvt Ltd, Thane. Chief Guest for the launching Ceremony was Cmde R Anand, AGM (COM)/ ND (Mbi).

    The contract for construction of eleven (11) Ammunition Cum Torpedo Cum Missile Barge was concluded with MSME Shipyard, M/s Suryadipta Projects Pvt Ltd, Thane on 05 Mar 21. These Barges have been indigenously designed and built by the Shipyard in collaboration with an Indian Ship Designing firm and Indian Register of Shipping (IRS). Model testing was undertaken at Naval Science and Technological Laboratory (NSTL), Visakhapatnam to ensure seaworthiness. The Shipyard has successfully delivered eight of these Barges till date and are being utilised by Indian Navy for its operation evolutions by facilitating Transportation, Embarkation and Disembarkation of articles/ ammunition to IN platforms both alongside jetties and at outer harbours.

    These Barges are proud flag bearers of “Make in India” and “Aatmanirbhar Bharat” initiatives of Government of India.

    *****

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  • MIL-OSI Asia-Pac: INAUGURAL EDITION OF INDIAN NAVY HALF MARATHON AT NEW DELHI

    Source: Government of India

    Posted On: 01 FEB 2025 9:35AM by PIB Delhi

    The Indian Navy will host the inaugural edition of the Indian Navy Half Marathon (INHM), on 02 Feb 25 at New Delhi.

    Over ten thousand participants are expected to compete across three race categories: 21.1 km, 10 km and 5 km runs, making it an inclusive event for runners of all calibers and backgrounds. This landmark event is being organised in partnership with IDFC FIRST Bank.

    Preparations are underway to deliver an unforgettable experience for every participant. The event will be hosted at the Jawaharlal Nehru Stadium, with the race route covering India Gate and the historic Kartavya Path. INHM will be flagged off by the Hon’ble Minister of Youth Affairs and Sports, Government of India, Shri Mansukh L Mandaviya. In addition, the event will also be graced by senior officers and distinguished personalities from the Armed Forces, civilian guests and renowned sportspersons.

    To celebrate the dedication of the most committed runners, we proudly introduce The Indian Navy Slam – a prestigious honour awarded to those who complete all four races organized by the Indian Navy in Kochi, Visakhapatnam, Mumbai, and New Delhi. This distinctive recognition embodies the discipline and determination of the Indian Navy, reflecting the perseverance and grit of runners.

    ⁠Indian Oil Corporation Limited also joins as an Associate Partner and the event has garnered strong support from key agencies, with the Delhi Police and New Delhi Municipal Council (NDMC) playing pivotal roles in ensuring the event’s success.

    The event aims to celebrate the spirit of fitness, discipline, and national pride. With a striking race route, esteemed dignitaries, and the unwavering support of key partners, the event is set to inspire all participants. With this inaugural edition, the Indian Navy reaffirms its commitment to foster a culture of health, resilience, and camaraderie. We eagerly anticipate an exhilarating race day on 2nd Feb 25 and look forward to welcome all participants to this spectacular sporting event in the heart of New Delhi.

    _____________________________________________________________

    VM/SKY                                                                                                        25/25

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  • MIL-OSI Asia-Pac: Public invited to vote in Taxi Service Commendation Scheme 2024

    Source: Hong Kong Government special administrative region

    Public invited to vote in Taxi Service Commendation Scheme 2024
    Public invited to vote in Taxi Service Commendation Scheme 2024
    ***************************************************************

         The Transport Department (TD) said today (February 1) that the Taxi Service Commendation Scheme 2024 will be open for public voting starting from today. Members of the public are welcome to cast their votes online by May 31 through the Committee on Taxi Service Quality’s (CTSQ) website (www.ctsq.org.hk/voting) or by scanning the QR code on the scheme’s publicity material (see Annex).      Jointly launched by the CTSQ and the TD, the scheme has received a record high number of over 1 400 nominations in total for the Quality Taxi Drivers and Good Driver, Good Service awards. Among them, 70 nominees for the Quality Taxi Drivers award and six for the Good Driver, Good Service award were shortlisted for public voting. After the end of public voting, a professional assessment panel will evaluate the driving records, conduct, in-service training records, commended behaviour and passengers’ satisfaction of the drivers, as well as the management on taxi service quality, application of advanced technology in enhancing the efficiency and quality of taxi service, and social responsibility of the management teams.      Twenty nominees for Quality Taxi Drivers and two for Good Driver, Good Service obtaining the highest combined scores from the public voting and professional assessment panel will receive the awards, while the driver given the highest score from public voting will be named the Most Popular Taxi Driver. In addition, the taxi service management team with the highest score from the panel will receive the Quality Taxi Service Management Team award.      A spokesman for the TD appealed to members of the public and tourists to vote and join hands to recognise the quality taxi services provided by trade practitioners and enhance the image of the industry. Apart from promotional materials displayed inside taxi compartments, at other modes of public transport and the information plates at taxi stands, the scheme is also publicised through the TD’s website, the HKeMobility mobile application and collaboration with the Hong Kong Tourism Board.

     
    Ends/Saturday, February 1, 2025Issued at HKT 11:00

    NNNN

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  • MIL-OSI Asia-Pac: Prime Minister lauds Indian Coast Guard on their Raising Day for Exemplary Service

    Source: Government of India

    Posted On: 01 FEB 2025 9:30AM by PIB Delhi

    On the occasion of Indian Coast Guard’s Raising Day, the Prime Minister, Shri Narendra Modi praised the force for its bravery, dedication, and relentless vigilance in protecting our vast coastline. Shri Modi said that from maritime security to disaster response, from anti-smuggling operations to environmental protection, the Indian Coast Guard is a formidable guardian of our seas, ensuring the safety of our waters and people.

    The Prime Minister posted on X;

    “Today, on their Raising Day, we laud the Indian Coast Guard for safeguarding our vast coastline with bravery, dedication and relentless vigilance. From maritime security to disaster response, from anti-smuggling operations to environmental protection, the Indian Coast Guard is a formidable guardian of our seas, ensuring the safety of our waters and people.

    @IndiaCoastGuard”

     

     

    ***

    MJPS/ST

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  • MIL-Evening Report: Dating apps could have negative effects on body image and mental health, our research shows

    Source: The Conversation (Au and NZ) – By Zac Bowman, PhD Candidate, College of Education, Psychology & Social Work, Flinders University

    Dikushin Dmitry/Shutterstock

    Around 350 million people globally use dating apps, and they amass an estimated annual revenue of more than US$5 billion. In Australia, 49% of adults report using at least one online dating app or website, with a further 27% having done so in the past.

    But while dating apps have helped many people find romantic partners, they’re not all good news.

    In a recent review, my colleagues and I found using dating apps may be linked to poorer body image, mental health and wellbeing.

    We collated the evidence

    Our study was a systematic review, where we collated the results of 45 studies that looked at dating app use and how this was linked to body image, mental health or wellbeing.

    Body image refers to the perceptions or feelings a person has towards their own appearance, often relating to body size, shape and attractiveness.

    Most of the studies we included were published in 2020 onwards. The majority were carried out in Western countries (such as the United States, the United Kingdom and Australia). Just under half of studies included participants of all genders. Interestingly, 44% of studies observed men exclusively, while only 7% included just women.

    Of the 45 studies, 29 looked at the impact of dating apps on mental health and wellbeing and 22 considered the impact on body image (some looked at both). Some studies examined differences between users and non-users of dating apps, while others looked at whether intensity of dating app use (how often they’re used, how many apps are used, and so on) makes a difference.

    More than 85% of studies (19 of 22) looking at body image found significant negative relationships between dating app use and body image. Just under half of studies (14 of 29) observed negative relationships with mental health and wellbeing.

    The studies noted links with problems including body dissatisfaction, disordered eating, depression, anxiety and low self-esteem.

    Dating apps are becoming increasingly common. But could their use harm mental health?
    Rachata Teyparsit/Shutterstock

    It’s important to note our research has a few limitations. For example, almost all studies included in the review were cross-sectional – studies that analyse data at a particular point in time.

    This means researchers were unable to discern whether dating apps actually cause body image, mental health and wellbeing concerns over time, or whether there is simply a correlation. They can’t rule out that in some cases the relationship may go the other way, meaning poor mental health or body image increases a person’s likelihood of using dating apps.

    Also, the studies included in the review were mostly conducted in Western regions with predominantly white participants, limiting our ability to generalise the findings to all populations.

    Why are dating apps linked to poor body image and mental health?

    Despite these limitations, there are plausible reasons to expect there may be a link between dating apps and poorer body image, mental health and wellbeing.

    Like a lot of social media, dating apps are overwhelmingly image-centric, meaning they have an emphasis on pictures or videos. Dating app users are initially exposed primarily to photos when browsing, with information such as interests or hobbies accessible only after manually clicking through to profiles.

    Because of this, users often evaluate profiles based primarily on the photos attached. Even when a user does click through to another person’s profile, whether or not they “like” someone may still often be determined primarily on the basis of physical appearance.

    This emphasis on visual content on dating apps can, in turn, cause users to view their appearance as more important than who they are as a person. This process is called self-objectification.

    People who experience self-objectification are more likely to scrutinise their appearance, potentially leading to body dissatisfaction, body shame, or other issues pertaining to body image.

    Dating apps are overwhelmingly image-centric.
    Studio Romantic/Shutterstock

    There could be several reasons why mental health and wellbeing may be impacted by dating apps, many of which may centre around rejection.

    Rejection can come in many forms on dating apps. It can be implied, such as having a lack of matches, or it can be explicit, such as discrimination or abuse. Users who encounter rejection frequently on dating apps may be more likely to experience poorer self-esteem, depressive symptoms or anxiety.

    And if rejection is perceived to be based on appearance, this could lead again to body image concerns.

    What’s more, the convenience and game-like nature of dating apps may lead people who could benefit from taking a break to keep swiping.

    What can app developers do? What can you do?

    Developers of dating apps should be seeking ways to protect users against these possible harms. This could, for example, include reducing the prominence of photos on user profiles, and increasing the moderation of discrimination and abuse on their platforms.

    The Australian government has developed a code of conduct – to be enforced from April 1 this year – to help moderate and reduce discrimination and abuse on online dating platforms. This is a positive step.

    Despite the possible negatives, research has also found dating apps can help build confidence and help users meet new people.

    If you use dating apps, my colleagues and I recommend choosing profile images you feel display your personality or interests, or photos with friends, rather than semi-clothed images and selfies. Engage in positive conversations with other users, and block and report anyone who is abusive or discriminatory.

    It’s also sensible to take breaks from the apps, particularly if you’re feeling overwhelmed or dejected.

    If this article has raised issues for you, or if you’re concerned about someone you know, call Lifeline on 13 11 14. The Butterfly Foundation provides support for eating disorders and body image issues, and can be reached on 1800 334 673.

    Zac Bowman does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Dating apps could have negative effects on body image and mental health, our research shows – https://theconversation.com/dating-apps-could-have-negative-effects-on-body-image-and-mental-health-our-research-shows-247336

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Want your loved ones to inherit your super? Here’s why you can’t afford to skip this one step

    Source: The Conversation (Au and NZ) – By Tobias Barkley, Lecturer, La Trobe University

    Ground Picture/Shutterstock

    What happens to our super when we die? Most Australians have superannuation accounts but about one in five of us die before we can retire and actually enjoy that money.

    If we do die early our money is paid out as super “death benefits”. They can be substantial. Even people who die young can have $200,000–$300,000 of death benefits through super life insurance.

    Death benefits have recently been in the news for all the wrong reasons. Last week the Treasurer Jim Chalmers expressed concern about delays paying out death benefits.

    The Law Council is concerned people do not have enough control over how death benefits are distributed. Others are devastated about death benefits being paid to alleged violent partners.

    How can you decide who gets your unspent super?

    Our first thought might be writing it in our will. However, super is not covered by our will as it does not become part of our deceased estate.

    Instead, death benefits are distributed by the trustee of your superannuation fund. Under the law, there are two main mechanisms controlling distribution: binding nominations and the trustee’s discretion.

    Wills don’t cover super so it is important to lock in a beneficiary using a binding nomination.
    Brian A Jackson/Shutterstock

    Every super member has the option to create a binding nomination. It’s like a will for your super that the super trustee is obliged to follow. It also needs two witnesses to execute it. However, there are actually more ways for a binding nomination to fail than for a will to fail.

    The law only allows you to nominate certain people: your “dependants” or your estate. If you nominate anyone else your entire nomination stops being binding. Plus, unlike wills, there is no way to fix execution errors. Also, many binding nominations expire after three years.

    If you don’t have a binding nomination, then the trustee can choose who your death benefit goes to. There are two main mechanisms controlling how the trustee chooses who gets your death benefit.

    First, legislation requires the trustee to give the death benefit to your dependants or deceased estate before anyone else. This means that your parents, for example, will only receive something if you have no children, partner or other dependants.

    Second, decisions made by trustees can be disputed by complaining to the Australian Financial Complaints Authority (AFCA). The authority has a rigid approach to who should get death benefits and trustees usually follow this course of action.

    Research I’ve done with Xia Li of La Trobe University reveals what AFCA does in practice.

    Most crucially, people’s wishes expressed in non-binding nominations were essentially ignored. Our research found there was no statistically significant association between being nominated in a non-binding nomination and receiving any of the death benefit. This was true even for recent nominations.

    Other factors the complaints authority ignores are family violence and financial need. In one case, five daughters provided evidence, including a police report, that their deceased mother was a victim of violence perpetrated by her new partner. In keeping with the Federal Court, AFCA gave the alleged perpetrator everything because he alone would have benefited from the deceased’s finances if she had lived.

    In another case, the deceased’s adult son received nothing despite living with disability and “doing it tough”. He had refused financial help so was not financially dependent. AFCA gave everything to the partner.

    AFCA ignores these factors because of one key issue. It places “great weight” on whether beneficiaries are financially dependent on the deceased.

    This means when choosing between a financial dependent – such as a new partner who shares home expenses with the deceased, and non-financial dependants, such as most adult children – AFCA will almost always give everything to the spouse.

    A new spouse will often receive their partner’s death benefits ahead of the deceased’s non-dependent children.
    Ground Picture/Shutterstock

    Relying on financial dependence can be arbitrary. Unlike in family law, a de facto partner does not need to be living with you for two years before becoming entitled. For example, in one case AFCA gave a partner of possibly only seven months (and 41 years younger than the deceased) everything and the deceased’s three children aged 27–33 nothing.

    Also, AFCA treats any regular payment that supports daily living as financial dependence. For example, a son paying A$100 a week board to parents means both parents are financially dependent on the son. In another case, payments from the deceased to his brother of $5,000, $7,000 and $5,000 made over a year was not financial dependence because they were irregular.

    The whole process is slow. The average time it takes to resolve a death benefit case that goes to AFCA is nearly three years and the longest case I’ve seen took over six.

    The only thing that you can do that will make a difference is execute a binding nomination; non-binding nominations are worthless.

    But take care to execute your binding nomination correctly (get legal advice) and leave reminders for yourself to review it every three years.

    Tobias Barkley is an ordinary member of the Unisuper superannuation fund.

    ref. Want your loved ones to inherit your super? Here’s why you can’t afford to skip this one step – https://theconversation.com/want-your-loved-ones-to-inherit-your-super-heres-why-you-cant-afford-to-skip-this-one-step-248019

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: Flooding crisis worsens in northern Australia

    Source: China State Council Information Office

    Thousands of people have been evacuated from their homes amid widespread severe flooding in northern Australia.

    Authorities in the northeastern state of Queensland on Monday warned residents of the state’s tropical north to expect further flooding following days of torrential rainfall.

    Thousands of people have been ordered to evacuate from the city of Townsville, over 1,000 km north of the state capital of Brisbane, and from surrounding towns.

    The region has received over one meter of rainfall over three days, with up to 300 millimeters forecast for Monday by the Bureau of Meteorology.

    State Premier David Crisafulli said on Monday morning that modelling shows the flooding has not yet peaked, urging residents of a stretch of coast over 600 km long between the cities of Mackay and Cairns to take heed of emergency warnings.

    He said that authorities are focused on protecting lives before turning their attention to recovery efforts.

    The State Emergency Service (SES) reported receiving almost 400 calls for assistance on Sunday, one-quarter of which were related to water entering properties.

    A bridge on the Bruce Highway, a major road connecting northern Queensland to Brisbane, has collapsed just north of Townsville, cutting off several towns.

    The Mayor of Hinchinbrook town, Ramon Jayo, told Australian Broadcasting Corporation television that the collapse was a “disaster” for the town, which will likely rely on supplies arriving by helicopter as it faces its worst flooding since the 1960s.

    As of Monday morning local time, about 10,000 properties in the region were without electricity, with those affected told to prepare for prolonged outages.

    Police in Townsville have increased patrols in evacuated parts of the city to protect properties from potential looting.

    The Townsville Airport reopened on Monday, but the city remains cut off by road.

    The federal government has deployed Australian Defence Force helicopters to help monitor the flooding. 

    MIL OSI China News

  • MIL-OSI Asia-Pac: Atmanirbhar Bharat in Defence

    Source: Government of India (2)

    Atmanirbhar Bharat in Defence

    ₹1.27 Lakh Crore in Production, ₹21,083 Crore in Exports – Defence on the Fast Track

    Posted On: 01 FEB 2025 2:20PM by PIB Delhi

    Introduction

    India’s defence sector has undergone a remarkable transformation since 2014, evolving from a largely import-dependent military force to one increasingly focused on self-reliance and indigenous production. As one of the strongest military powers globally, India holds a pivotal role in ensuring regional security and fulfilling strategic goals. The country’s defence budget, which stood at ₹2,53,346 crore[1] in 2013-14, has seen a significant rise, reaching ₹6,21,940.85 crore[2] in 2024-25, reflecting a clear commitment to strengthening the nation’s defence capabilities. Central to this transformation is the growth of India’s defence manufacturing industry, which has become an integral part of the economy. Through the “Make in India” initiative and policy reforms, the government has actively promoted domestic production and reduced reliance on foreign procurement. This shift has been a key component of India’s broader vision of achieving Atmanirbharta (self-reliance) in defence, positioning the nation as an emerging hub for the production of advanced military technologies and equipment.

    Defence Production

    v Record Defence Production: In FY 2023-24, India’s domestic defence production reached ₹1.27 lakh crore, marking a record high, with an impressive increase of approximately 174% from ₹46,429 crore in 2014-15.

    1. Achieving New Milestones: India is on track to achieve a target of ₹1.75 lakh crore in defence production in the current fiscal year.
    1. Vision for the Future: India aims to reach ₹3 lakh crore in defence production by 2029, further establishing itself as a global defence manufacturing hub.

    Defence Exports

    v Surge in Defence Exports: India’s defence exports have surged from ₹1941 crore in FY 2014-15 to ₹21,083 crore in FY 2023-24, reflecting a remarkable increase in export value.

    v Strong Year-on-Year Growth: A 32.5% growth in defence exports was recorded over the previous fiscal year 2022-23, rising from ₹15,920 crore.

     

    1. Decadal Growth: Defence exports have grown 21 times, from ₹4,312 crore in the 2004-14 decade to ₹88,319 crore in the 2014-24 decade, highlighting India’s expanding role in the global defence sector.

     

    1. Expanding Global Reach: Driven by government policy reforms, ease of doing business initiatives, and a push for self-reliance, India now exports to over 100 nations.

     

    1. Key Export Destinations: The top three destinations for India’s defence exports in 2023-24 were the USA, France, and Armenia.

     

    1. Ambitious Export Target: The target for 2029 is to increase defence exports to ₹50,000 crore, underscoring India’s ambition to become a reliable global defence partner.
    2. Diverse Export Portfolio: India’s export portfolio includes advanced equipment such as bulletproof jackets, Dornier (Do-228) aircraft, Chetak helicopters, fast interceptor boats, and lightweight torpedoes.
    3. Milestone Achievement: A significant milestone was the inclusion of ‘Made in Bihar’ boots in the Russian Army’s equipment, highlighting India’s high manufacturing standards in the global defence market.

    Conclusion

    India’s defence sector has made unprecedented strides over the past decade, driven by a strong policy push towards self-reliance and domestic manufacturing. The significant rise in defence production and exports underscores the country’s growing capability as a global defence manufacturing hub. With a record ₹1.27 lakh crore in defence production and exports reaching ₹21,083 crore in FY 2023-24, India has demonstrated its commitment to reducing dependency on imports while strengthening its presence in the global market.

    As the nation aims for ₹3 lakh crore in defence production and ₹50,000 crore in exports by 2029, these achievements highlight India’s emergence as a reliable defence partner worldwide. By leveraging innovation, strategic partnerships, and indigenous capabilities, India is well-positioned to play a pivotal role in the future of global defence manufacturing and security.

    References:

    https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2016818

    https://pib.gov.in/PressReleasePage.aspx?PRID=2069090

    https://sansad.in/getFile/loksabhaquestions/annex/178/AS325.pdf?source=pqals

    https://pib.gov.in/PressReleasePage.aspx?PRID=2035748

    https://www.ibef.org/industry/defence-manufacturing

    Click here to see in PDF:

    Santosh Kumar/ Sarla Meena/ Saurabh Kalia

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  • MIL-OSI Asia-Pac: Strengthening India’s Agricultural Backbone

    Source: Government of India (2)

    Strengthening India’s Agricultural Backbone

    Key Achievements and Government Initiatives

    Posted On: 01 FEB 2025 2:06PM by PIB Delhi

    Synopsis

    • The Government of India has significantly increased budget allocations, rising from ₹11,915.22 crore in 2008-09 to ₹1,22,528.77 crore in 2024-25, demonstrating its commitment to the sector.
    • Food grain production has surged from 204.6 million tonnes (2004-05) to an estimated 332.3 million tonnes (2023-24), with enhanced productivity and Minimum Support Price (MSP) revisions ensuring better farmer incomes.
    • The MSP for paddy and wheat has grown from ₹850 and ₹1,080 per quintal in 2008-09 to ₹2,300 and ₹2,425 per quintal in 2023-24 respectively. Additionally, the total MSP paid to farmers for paddy and wheat has surged from ₹4.40 lakh crore and ₹2.27 lakh crore in 2004-13 to ₹12.51 lakh crore and ₹5.44 lakh crore in 2014-24 respectively.
    • Key farmer-centric initiatives include PM-KISAN (₹3.46 lakh crore disbursed), PMFBY (₹1.65 lakh crore in claims), and e-NAM, which has integrated 1,400+ mandis for better market access. The Agricultural Infrastructure Fund (AIF) has sanctioned ₹52,738 crore for over 87,500 projects to improve post-harvest management.
    • The government’s millet promotion efforts have boosted production, while institutional credit expansion, Kisan Credit Card (KCC) growth, and agricultural R&D investments continue to transform the sector.

     

    Agriculture serves as the backbone of India’s economy, playing a pivotal role in ensuring food security, providing employment, and contributing to overall economic development. It supports the livelihoods of a significant portion of the population and remains vital to India’s socio-economic fabric. Recognizing its importance, the Government of India has implemented various initiatives and significantly increased budget allocations to strengthen the sector.

    Enhanced Budget Allocation

    The budget estimates for the Department of Agriculture, Cooperation & Farmers Welfare was  ₹11,915.22 Crore in 2008-09. The budget forDepartment of Agriculture and Farmers’ Welfare  increased to ₹21,933.50 Crore in 2013-14 and further advanced to ₹1,22,528.77 Crore in 2024-25, reflecting the government’s commitment to agricultural development.

    Increased Food Grain Production

    India’s foodgrain production has seen a steady rise over the years, reflecting improvements in agricultural productivity and policy support. In 2004-05, total foodgrain production stood at 204.6 million tonnes. (4th advance estimates) This increased to 252 million tonnes in 2014-15 and further surged to an estimated 332.3 million tonnes in 2023-24.

    Gross Area Under Major Crops

    In 2004-05, the total area under foodgrain crops was 120.2 million hectares ( 4th advance estimates). This expanded to 124.3 million hectares in 2014-15 and reached 132.1 hectares in 2023-24

    Annual Growth Rate of Real Gross Value Added (GVA) at Basic Prices 

    The annual growth rate of real GVA in the agriculture, forestry, and fishing sector has shown fluctuations over the years. In 2004-05, it was recorded at 1.4%, slightly declining to 1.2% in 2014-15. However, the sector has gained momentum in recent years, with the growth rate rising to an estimated 2.1% in 2023-24. This reflects improved efficiency, mechanization, and diversification in agricultural activities.

    Real Gross Value Added (GVA) in Agriculture (₹ Crore at Constant Prices)

    The real GVA for agriculture, forestry, and fishing has demonstrated substantial growth, showcasing the sector’s increasing contribution to the economy. In 2004-05, the GVA stood at ₹13.85 lakh crore, which rose to ₹18.94 lakh crore in 2014-15 and further increased to an estimated ₹26.42 lakh crore in 2023-24( PE). This consistent rise highlights the sector’s resilience and its vital role in India’s economic development.

    Increase in productivity

    Comparison of yield between 2013-14 and 2023-24 (Kg/ha) reflects a substantial increase in productivity.

    Crop

    2013-14

    2023-24

    Absolute Difference

     (2023-24 over 2013-14)

    Difference

    (%)

    Rice

    2416

    2882

    466

    19.29

    Wheat

    3145

    3559

    414

    13.16

    Maize

    2676

    3351

    675

    25.22

    Coarse Cereals

    1717

    2945

    1228

    71.52

    Total Pulses

    763

    881

    118

    15.47

    Total Foodgrains

    2120

    2515

    395

    18.63

    Total Oilseeds

    1167

    1314

    147

    12.60

    Sugarcane

    70522

    78953

    8431

    11.96

    Jute

    2639

    2783

    144

    5.46

     

    Food Grain Procurement

    1. The decade from 2014-15 to 2023-24 witnessed an impressive 6900 LMT of paddy procurement, a substantial increase from the 4590 LMT procured in the preceding ten years (2004-05 to 2013-14).
    1. Similarly, wheat procurement has seen a substantial surge, thanks to proactive planning and meticulous execution. The procurement increased from 2140 LMT in 2004-05 to 2013-14 to 3072 LMT in 2014-23.

    Minimum Support Price (MSP) Enhancements

    1. Government has increased the MSP for all mandated Kharif, Rabi and other commercial crops with a return of at least 50 per cent over all India weighted average cost of production from 2018-19. 
    2. The MSP for paddy (common) has risen from ₹850 per quintal in 2008-09 (with an additional incentive of ₹50 per quintal) to ₹1,310 per quintal in 2013-14, and further to ₹2,300 per quintal in 2023-24.
    1. MSP for wheat has also seen consistent growth, rising from ₹1,080 per quintal in 2008-09 to ₹1,400 per quintal in 2013-14, and reaching ₹2,425 per quintal in 2023-24.
    1. The MSP paid to farmers for paddy also saw a threefold increase, from ₹4.40 lakh crore in 2004-13 to a staggering ₹12.51 lakh crore in 2014-24.
    2. The MSP paid to farmers for wheat procurement also saw a steep rise from ₹2.27 lakh crore in 2004-13 to ₹5.44 lakh crore in 2014-24, ensuring greater financial stability for wheat farmers across the country

     

    Income Support through PM-KISAN

    Launch of PM-KISAN in 2019 an income support scheme providing ₹ 6000 per year in 3 equal instalments. So far, more than  ₹ 3.46 lakh Crore has been disbursed to over 11 Crore farmers through 18 instalments.

    Pradhan Mantri Kisan Maandhan Yojana

    PMKMY is a central sector scheme, is a voluntary and contributory pension scheme for the entry age group of 18 to 40 years with a provision of  ₹ 3000/- monthly pension on attaining the age of 60 years, subject to exclusion criteria. Since the inception of the scheme, over 24.67 lacs small and marginal farmers have joined the PMKMY scheme.

    Pradhan Mantri Fasal Bima Yojana (PMFBY)

    1. was launched in 2016 addressing problems of high premium rates for farmers and reduction in sum insured due to capping. In past 8 Years of implementation. In past 8 Years of implementation, 63.11 Crore farmer applications have been  enrolled and over 18.52 Crore (Provisional) farmer applicants have received claims of over ₹ 1,65,149 Crore. During this period nearly 32,482 Crore were paid by farmers as their share of premium against which claims over 1,65,149 Crore (Provisional) have been paid to them. Thus, for every ₹100 of premium paid by farmers, they have received about ₹ 508 as claims.

    Institutional credit for agriculture sector

    1. Since the inception of the scheme, a total of 1,285.37 lakh KCCs had been issued till 2012-13, which increased to 1,895.81 lakh by March 31, 2019 (PE). 
    1. In the last 10 years, Rs 1.44 lakh Crore of Interest Subsidy has been released on Kisan Credit Card loans. It has risen nearly 2.4 times, from ₹6,000 Crore in 2014-15 to ₹14,252 crore in 2023-24.

           

    1. Institutional credit flow to agriculture has risen nearly three times since 2014-15, rising from ₹ 8.5 lakh Crore to ₹ 25.48 lakh Crore in 2023-24. Short-term agriculture credit has more than doubled, increasing from ₹ 6.4 lakh Crore in 2014-15 to ₹ 15.07 lakh Crore in 2023-24.

                    

    1. The proportion of Small and Marginal Farmers accessing agriculture loans grew from 57% in 2014-15 to 76% in 2023-24.

     

    e-NAM

    The Department has integrated 1410 mandis with e-NAM since inception across 23 States & 4 UTs. As on 31st December 2024, 1.79 Crore farmers & 2.63 lakh traders have been registered on e-NAM portal. Total volume of 11.02 Crore MT & 42.89 Crore numbers (bamboo, betel leaves, coconut, lemon & sweet corn) collectively worth approximately Rs. 4.01 lakh Crore of trade has been recorded on e-NAM platform.

    Agricultural Infrastructure Fund

    A One Lakh Crore, Agriculture Infrastructure Fund (AIF) scheme was launched with an objective to mobilize a medium – long term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through incentives and financial support in order to improve agriculture infrastructure in the country. As on  27.12.2024, 52,738 Crore have been sanctioned for 87,548 projects under AIF, out of this total sanctioned amount 39,959 Crore are covered under scheme benefits. These sanctioned projects have mobilized an investment of 86,798 Crore in agriculture sector.

    Millets: Superfood of India

    During the budget Announcement 2023-24, a “Global R&D Hub for millets in India” was announced with a total budget outlay of 250 Crore during 2023-24 to 2025-26. for making India a Global R&D Hub.

    Key Achievements

    1. Millet production has increased in the last 1 year, reaching 175.72 lakh tonnes in 2023-24 (Final Estimate) from 173.21 lakh tonnes in 2022-23.
    2. Productivity has increased by 7% from 1248 Kg/ha to 1337 Kg/ha between 2019 and 2024 (Final Estimate).
    3. 25 seed hubs have been established in collaboration with ICAR, ensuring the availability of high-quality seeds of improved millet varieties.
    4. Procurement of 7.8 lakh tonnes of millets during the kharif marketing season of 2023-24

    These efforts have led to substantial improvements in food grain production, increased income for farmers, enhanced credit facilities, and better crop insurance. As a result, the agriculture sector continues to evolve and thrive, securing India’s position as a global leader in agricultural production and export.

     

    References

    Department of Agriculture and Farmers Welfare

    https://pib.gov.in/PressReleasePage.aspx?PRID=2090993

    https://www.indiabudget.gov.in/economicsurvey/

    https://desagri.gov.in/wp-content/uploads/2021/04/MSP-14-06-12.pdf

    https://desagri.gov.in/wp-content/uploads/2021/06/Pocket-2020-Final-web-file.pdf

    Click here to download PDF

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  • MIL-OSI Asia-Pac: PRESIDENT OF INDIA GRACES the opening of Amrit Udyan

    Source: Government of India

    PRESIDENT OF INDIA GRACES the opening of Amrit Udyan

    Udyan TO OPEN FOR PUBLIC FROM February 2

    Posted On: 01 FEB 2025 1:35PM by PIB Delhi

    The President of India, Smt Droupadi Murmu graced the opening of the Amrit Udyan Winter Annuals Edition 2025 today (February 1, 2025). The Amrit Udyan will open for public viewing from February 2 to March 30, 2025.

    People can visit the Udyan six days a week between 10 a.m. and 6 p.m., except on Mondays, which are maintenance days. The Udyan will also remain closed on February 5 (due to polling for the Delhi Legislative Assembly), February 20 and 21 (due to the Visitors’ Conference at Rashtrapati Bhavan), and March 14 (on account of Holi).   

            The Amrit Udyan will be open for special categories on the following days:

    ·         March 26 – for divyangjan 

    ·         March 27 – for personnel of defence, paramilitary and police forces

    ·         March 28 – for women and tribal women’s SHGs

    ·         March 29 – for senior citizens  

     

    Booking and entry to the Garden is free of cost. Booking can be made at https://visit.rashtrapatibhavan.gov.in/Walk-in entry is also available.

    Entry and exit for all visitors will be from Gate No. 35 of the President’s Estate, close to where North Avenue meets Rashtrapati Bhavan. For the convenience of visitors, shuttle bus service from Central Secretariat Metro Station to Gate No. 35 will be available every 30 minutes between 9.30 am and 6.00 pm. 

    Visitors can carry mobile phones, electronic keys, purses/handbags, water bottles and milk bottles for infants. Provision for drinking water, toilets, and first aid/medical facilities will be made at various places along the public route. 

    Route for the visitors will be Bal Vatika – Plumeria theme Garden – Bonsai Garden – Central Lawn – Long Garden – Circular Garden.

    Visitors can get detailed information about any display by scanning QR codes.

    Along with tulips this year visitors will be able to see 140 different types of roses and more than 80 other flowers.

    Rashtrapati Bhavan will also host Vividhta Ka Amrit Mahotsav as part of Amrit Udyan from March 6 to 9, 2025. This year’s Mahotsav will showcase the rich cultural heritage and unique traditions of Southern India.

    Apart from the Amrit Udyan, people can also visit Rashtrapati Bhavan and Rashtrapati Bhavan Museum six days a week (from Tuesday to Sunday). They can also witness the Change-of-Guard Ceremony every Saturday except on Gazetted Holidays. More details are available at https://visit.rashtrapatibhavan.gov.in.  

      ***

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  • MIL-OSI Asia-Pac: NO INCOME TAX ON ANNUAL INCOME UPTO Rs. 12 LAKH UNDER NEW TAX REGIME

    Source: Government of India

    NO INCOME TAX ON ANNUAL INCOME UPTO Rs. 12 LAKH UNDER NEW TAX REGIME

    LIMIT TO BE Rs. 12.75 LAKH FOR SALARIED TAX PAYERS, WITH STANDARD DEDUCTION OF RS. 75,000

    UNION BUDGET 2025-26 BRINGS ACROSS-THE-BOARD CHANGE IN INCOME TAX SLABS AND RATES TO BENEFIT ALL TAX-PAYERS

    TAX SLAB RATE REDUCTION AND REBATES TO RESULT IN SUBSTANTIAL TAX RELIEF TO MIDDLE CLASS, THEREBY BOOSTING HOUSEHOLD CONSUMPTION EXPENDITURE AND INVESTMENT

    Posted On: 01 FEB 2025 1:28PM by PIB Delhi

    Reaffirming Government’s commitment to the philosophy of “trust first, scrutinize later”, the Union Budget 2025-26 has reposed faith in the Middle class and continued the trend of giving relief in tax burden to the common tax–payer. Presenting the Budget in the Parliament today, Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman proposed an across-the-board change in tax slabs and rates to benefit all tax-payers.

    Giving the good news to tax payers, the Finance Minister stated, “There will be no income tax payable upto income of Rs. 12 lakh (i.e. average income of Rs.1 lakh per month other than special rate income such as capital gains) under the new regime. This limit will be Rs.12.75 lakh for salaried tax payers, due to standard deduction of Rs. 75,000.”  Tax rebate is being provided in addition to the benefit due to slab rate reduction in such a manner that there is no tax payable by them, she added.

    Smt. Sitharaman stated, “The new structure will substantially reduce the taxes of the middle class and leave more money in their hands, boosting household consumption, savings and investment”. In the new tax regime, the Finance Minister proposed to revise tax rate structure as follows:

    0-4 lakh rupees

    Nil

    4-8 lakh rupees

    5 per cent

    8-12 lakh rupees

    10 per cent

    12-16 lakh rupees

    15 per cent

    16-20 lakh rupees

    20 per cent

    20- 24 lakh rupees

    25 per cent

    Above 24 lakh rupees

    30 per cent

    The total tax benefit of slab rate changes and rebate at different income levels can be illustrated in the table below:

    While underlining Taxation Reforms as one of key reforms to realize the vision of Viksit Bharat, Smt. Sitharaman stated that the new income-tax bill will carry forward the spirit of ‘Nyaya’. The new regime will be simple to understand for taxpayers and tax administration, leading to tax certainty and reduced litigation, she informed.

    Quoting Verse 542 from The Thirukkural, the Finance Minister stated, “Just as living beings live expecting rains, Citizens live expecting good governance.” Reforms are a means to achieve good governance for the people and economy. Providing good governance primarily involves being responsive. The tax proposals detail just how the Government under the guidance of Prime Minister Shri Narendra Modi has taken steps to understand and address the needs voiced by our citizens, Smt. Sitharaman added.

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  • MIL-OSI Asia-Pac: AGRICULTURE IS THE FIRST ENGINE FOR INDIA’S DEVELOPMENT JOURNEY: BUDGET 2025-26

    Source: Government of India

    AGRICULTURE IS THE FIRST ENGINE FOR INDIA’S DEVELOPMENT JOURNEY: BUDGET 2025-26

    MAKHANA BOARD TO BE ESTABLISHED IN BIHAR

    NATIONAL MISSION ON HIGH YIELDING SEEDS TO BE LAUNCHED

    SECOND GENE BANK WITH 10 LAKH GERMPLASM LINES TO BE SET UP

    FIVE- YEAR MISSION FOR COTTON PRODUCTIVITY ANNOUNCED

    KISAN CREDIT CARD LOAN LIMIT RAISED FROM Rs. 3 LAKH TO Rs. 5 LAKH

    12.7 LAKH METRIC TONS UREA PLANT TO BE SET UP AT NAMRUP, ASSAM

    ANDAMAN & NICOBAR AND LAKSHADWEEP ISLANDS WILL BE THE SPECIAL FOCUS OF THE NEW FRAMEWORK FOR SUSTAINABLE HARNESSING OF FISHERIES

    Posted On: 01 FEB 2025 1:27PM by PIB Delhi

    Emphasizing ‘Agriculture as the first engine’ for India’s development journey, Union Budget 2025-26 tabled in Parliament today by Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman, announced a slew of measures to spur Agricultural Growth and Productivity, thereby benefitting the Annadata.

    Announcing the Government’s decision to establish a Makhana Board in Bihar, Smt. Sitharaman said it will improve production, processing, value addition, and marketing of makhana as well as support the people engaged in these activities to be organized into Farmer Producer Organizations (FPOs). She added that the Board will provide handholding and training support to makhana farmers and also work to ensure they receive the benefits of all relevant Government schemes.

    The Minister stated that a National Mission on High Yielding Seeds will be launched with an aim to strengthen the research ecosystem, targeted development and propagation of seeds with high yield, pest resistance and climate resilience, and commercial availability of more than 100 seed varieties released since July 2024.

    To provide conservation support to both public and private sectors for genetic resources and ensure future food and nutritional security, the Minister said that the second Gene Bank with 10 lakh germplasm lines will be set up.

    Announcing the ‘Mission for Cotton Productivity’, Smt. Sitharaman highlighted that the five-year mission will facilitate significant improvements in productivity and sustainability of cotton farming, and promote extra-long staple cotton varieties. She said the mission will benefit lakhs of cotton growing farmers as the best of science & technology support will be provided to farmers. Aligned with the Government’s integrated 5F vision for the textile sector, the Minister remarked that the mission will help in increasing incomes of the farmers as well as ensure a steady supply of quality cotton for rejuvenating India’s traditional textile sector.

    Noting the importance of Kisan Credit Cards (KCC) in facilitating short term loans for around 7.7 crore farmers, fishermen, and dairy farmers, the Minister announced the enhancement of loan limit under the Modified Interest Subvention Scheme from Rs. 3 lakh to Rs. 5 lakh for loans taken through the KCC.

    Smt. Sitharaman announced the setting up of Urea plant with annual capacity of 12.7 lakh metric tons at Namrup, Assam. This, she said will further augment urea supply and help to achieve Atmanirbharta in urea production, along with the recently reopened three dormant urea plants in the Eastern region.

    Highlighting that India ranks second-largest globally in fish production and aquaculture with the Seafood exports valued at Rs. 60 thousand crore, the Union Minister remarked that the Government will bring in an enabling framework for sustainable harnessing of fisheries from Indian Exclusive Economic Zone and High Seas, with a special focus on the Andaman & Nicobar and Lakshadweep Islands, which will unlock the untapped potential of the marine sector.

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