NewzIntel.com

Category: Transport

  • MIL-OSI Australia: Alcohol Seizure – Daly River Region

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force has seized a quantity of alcohol intended for distribution within remote communities in the Daly River Region.

    Around 9pm on Friday 31 January, local police members  established a roadblock along Port Keats Road before stopping a vehicle attempting to enter the alcohol restricted area.

    The vehicle was discovered to be transporting:

    • 12 x Bottles of rum
    • 1 x Carton of beer
    • 4 x Cans pre-mix alcohol

    The 37-year-old female driver was issued a Notice to Appear for offences including possess and convey alcohol into a general restricted area.

    Acting Superintendent Erica Gibson said  “ This was fantastic work from local members and our message is simple; You just never know where and when police will be on the road.

    “The disruption of alcohol into restricted communities has a detrimental impact on the health, safety and finances of everyone. Police will continue to proactively target anyone who seeks to take advantage of alcohol restricted areas.

    “If you have any information regarding the distribution of drugs or alcohol into remote communities, please contact police on 131 444.

    “Anonymous reports can also be made through Crime Stoppers on 1800 333 000 or via https://crimestoppersnt.com.au/. “

    MIL OSI 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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    (Release ID: 2098370) Visitor Counter : 34

    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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    (Release ID: 2098364) Visitor Counter : 71

    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.

    *****

    NB/RC/VV/KS/CNAN/GS/SC/AG/NJ

    (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 Pacific News –

  • 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

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: NSU Master’s student studies new materials for spin-polarized electron sources

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    2nd year Master’s student Faculty of Physics, Novosibirsk State University Nadezhda Solovyova studies the conditions for the formation of monocrystalline films of multi-alkali compounds of antimony and bismuth. These materials are used as photocathodes – effective sources of free electrons and important elements of various photoelectron converters, allowing the registration of weak light signals, down to single photons.

    Photocathodes are devices that operate on the principle of external photoelectric effect. They allow to obtain a beam of electrons with the necessary characteristics for various applications: in electron microscopes, for accelerators, colliders, night vision systems, etc.

    GaAs, GaN, and various alkali metal composites combined with antimony (Sb) are used as photocathode materials. Today, photocathode materials have a natural surface disorder, which affects their quantum efficiency, electron beam brightness, and other characteristics. Multialkali compounds (Cs3Sb, Na2KSb, K2CsSb) have been used as electron sources since the 1930s. In 2022, the Rzhanov Institute of Semiconductor Physics SB RAS discovered the possibility of emitting spin-polarized electrons from a multialkali Na2KSb/Cs3Sb photocathode. This discovery sparked a surge of interest in this and other multialkali materials. And at the moment, one of the important issues is the possibility of obtaining crystalline ordered films of these compounds. The answer to this question requires the development of epitaxial growth technology for multialkali materials.

    — Despite the fact that multi-alkali materials have long been used to manufacture photocathodes, single-crystal films of multi-alkali compounds have not been obtained before, so it was not possible to study their electronic structure using experimental methods; only calculations existed. Currently, we have a method that will allow us to study the electronic structure, and now our task is to obtain crystalline ordered compounds. They are needed to control the characteristics of photocathode materials. For example, the growth of photocathode materials on a crystalline ordered substrate can allow us to change the ratios of lattice constants and temperature expansion coefficients, which can increase the spin polarization of photosimulated electrons, as well as affect other characteristics. For example, the diffusion length can change or the quantum efficiency of photocathode materials can increase. And, what is important, we will have the opportunity to control their properties during the growth process, — explained Nadezhda Solovyova.

    At present, a method for growing epitaxial Cs3Sb films on the 3C-SiC(001) surface has been proposed in the literature. Experiments on epitaxial growth of multi-alkali antimony compounds (Na2KSb, K2CsSb, etc.) on various substrates have not been described in the literature.

    The study of such materials should improve the characteristics of photocathodes, but in addition to the practical task, this study also sets a fundamental one: obtaining crystalline ordered films in order to experimentally study their electronic structure.

    Nadezhda Solova’s project “Study of the conditions for the formation of single-crystal films of multi-alkali compounds of Sb and Bi” was among the winners of the youth competition of scientific research projects “X-ray, synchrotron, neutron methods of interdisciplinary research” last year.

    As part of the project, the young researcher is tasked with obtaining such films and determining how replacing antimony with bismuth will affect their properties. It is assumed that the use of single-crystal films of solid solutions of Cs3BixSb1-x will shift the working range of photocathodes to the infrared region and affect the spin polarization of photoemitted electrons (?). At the moment, Nadezhda Solovyova, under the supervision of Vladimir Golyashov, PhD, research fellow at the Institute of Physical Problems of the Siberian Branch of the Russian Academy of Sciences, has obtained quite interesting results: for the first time, it was possible to obtain single-crystal films of Na2KSb.

    — We were able not only to obtain crystalline ordered films, but also to obtain the first experimental measurement of the electronic structure using angle-resolved photoelectron spectroscopy. We did not find any publications about such work in scientific journals. Now we have extensive work ahead of us to decipher the obtained structure, perform the necessary calculations and publish our results, but the first steps have already been taken, and they have proven to be quite productive, — said Nadezhda Solovyova.

    The films were grown using two methods. First, in collaboration with the Novosibirsk enterprise ZAO Ekran-FEP, the scientists followed the method used in the production of electron-optical converters and obtained the first crystalline-ordered films. However, they were not satisfied with the fact that under such conditions the growth of photocathodes was difficult to control due to the excess pressure of alkali metals.

    Another growth technique was fully implemented in the laboratory of the A.V. Rzhanov Institute of Semiconductor Physics SB RAS, and was closer to molecular beam epitaxy:

    — Our laboratory has conditions that allow us to create molecular sources from which film growth will be determined by the ratio of several flows, and there will be no excess of a certain chemical element and the stoichiometric composition of the film will be determined by the ratio of these flows. Having tested both methods, we came to the conclusion that new sources for the growth of such materials need to be created. The laboratory setup is currently being improved, — said Nadezhda Solovyova.

    All compounds studied by Nadezhda Solova are extremely unstable in the atmosphere, so their study requires the development of in-situ ultrahigh-vacuum photoelectron spectroscopy methods. Preparation of atomically clean substrate surfaces, synthesis and epitaxial growth of (Na,K,Cs)3(Sb,Bi), as well as their subsequent analysis are carried out directly in the ultrahigh-vacuum chambers of the SPECS Proven-X ARPES photoelectron spectroscopy facility at the ISP SB RAS. It implements such methods for analyzing the surface of solids as angle-resolved photoelectron spectroscopy (ARPS), X-ray photoelectron spectroscopy (XPS), X-ray photoelectron diffraction (XRD), and low-energy electron diffraction (LEED). LEED allows one to quickly determine whether the structure of the grown films is crystalline, polycrystalline, or amorphous. XPS is used to study the stoichiometric composition of films, their thickness and the chemical state of atoms on the surface.

    — The electronic structure of the grown monocrystalline films is studied using angle-resolved photoelectron spectroscopy (ARPS). However, XPS, ARPES and RFD can be fully realized only when using monochromatic ultraviolet and soft X-ray radiation sources based on synchrotrons. Therefore, if our project shows high potential for further research, we will continue working at the SKIF synchrotron under construction in Novosibirsk. One of the suitable stations where similar measurements can be implemented will be station 1-6-2 “Electronic Structure”, — explained Nadezhda Solovyova.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • 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 Analysis – EveningReport.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 Analysis – EveningReport.nz –

  • MIL-OSI China: Iran unveils 3 new homegrown satellites

    Source: China State Council Information Office

    Iran on Sunday unveiled three new domestically developed satellites in the Iranian capital Tehran to mark its National Space Technology Day, the official news agency IRNA reported.

    The satellites, namely Navak-1, Pars-2, and an upgraded model of Pars-1, were unveiled in a ceremony attended by Iranian President Masoud Pezeshkian, Minister of Information and Communications Technology Seyyed Sattar Hashemi, as well as a number of cabinet members, officials, and military commanders, the report said.

    Developed by the Iranian Space Research Center, the Navak-1 communications satellite is designed to test the function of an improved version of the homegrown Simorgh launch vehicle in the near future. The carrier is expected to put the satellite into an elliptic orbit, according to IRNA.

    Weighing approximately 34 kg, Navak-1 is equipped with a dosimetry payload to measure cosmic rays, the report said, adding the satellite has a magnetometer sensor to measure the Earth’s electromagnetic field.

    According to IRNA, the Pars-2 remote-sensing satellite weighs 150 kg and is equipped with two imaging payloads with two different homegrown linear position sensors.

    The satellite features a propeller and is capable of carrying out diverse missions in the fields of environmental monitoring, forestry, natural disaster response, and urban management.

    The upgraded model of Pars-1 remote-sensing satellite, weighing under 150 kg, has three imaging payloads: multispectral, short-wave infrared, and thermal infrared, according to IRNA.

    The satellite is powered by energy generated from its gallium arsenide solar cells, according to the report. The first model of the satellite, weighing 134 kg, was launched on Feb. 29, 2024, aboard a Russian Soyuz rocket from the Vostochny space base.

    Speaking at another ceremony in Tehran on Sunday to mark the occasion, Iranian Defense Minister Aziz Nasirzadeh said the country plans to conduct two space launches in the coming weeks, before the end of the current Iranian calendar year on March 20. 

    MIL OSI China News –

  • MIL-OSI China: US tariff move sparks criticism, concern in Germany

    Source: China State Council Information Office

    U.S. President Donald Trump’s tariff move against Canada, Mexico and China has sparked criticism and concern in Germany.

    On Saturday, Trump ordered to impose a 25-percent tariff on imports from Mexico and Canada, and a 10-percent tariff on Chinese goods. He also signaled that the European Union (EU) could be next, citing the bloc’s persistent trade surplus with the U.S.

    While reaffirming Germany’s commitment to economic ties with the U.S., German Chancellor Olaf Scholz emphasized that the first priority should be “not to divide up the world with many tariff barriers.”

    “Tariffs have never been a good idea to resolve trade policy conflicts,” Chairman of the German Christian Democratic Union Friedrich Merz said, warning of backlash in the U.S. as rising import costs would fuel inflation and hit American consumers directly.

    Dirk Jandura, president of the Federation of German Wholesale, Foreign Trade and Services (BGA), described the tariffs as “a clear warning to the EU and Ursula von der Leyen,” stressing that neither Germany nor the EU should remain passive.

    Trump’s move would come at a high cost for Americans, Jandura said, adding, “The losers are always end consumers, who will feel the price increase at the checkout.”

    German companies are also bracing for the impact, as many supply the U.S. market from Mexico, particularly in the automotive industry.

    According to the German newspaper Handelsblatt, Mexico has been Germany’s most important investment location in Latin America for years, with total investments exceeding 45 billion U.S. dollars since the 2000s.

    Volkswagen Group, which operates one of its largest vehicle factories in Mexico, produces nearly 80 percent of its North America vehicles in Mexico and Canada. A Volkswagen spokesman voiced concerns about the tariffs’ potential economic fallout, warning of negative effects on American consumers and the global auto industry.

    According to the credit rating agency S&P, Canada and Mexico produce around 5.3 million passenger cars annually, with approximately 70 percent destined for the U.S.

    Importers are likely to pass most, if not all, of the price increase to consumers, S&P noted, warning that the additional costs would further strain affordability in the U.S. auto market. 

    MIL OSI China News –

  • 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: FDI LIMIT FOR INSURANCE SECTOR RAISED FROM 74 TO 100 PER CENT

    Source: Government of India

    FDI LIMIT FOR INSURANCE SECTOR RAISED FROM 74 TO 100 PER CENT

    FORUM FOR REGULATORY COORDINATION AND DEVELOPMENT OF PENSION PRODUCTS TO BE SET UP: UNION BUDGET 2025-26

    ROLL OUT OF REVAMPED CENTRAL KYC REGISTRY PLANNED IN 2025

    PROCEDURES FOR SPEEDY APPROVAL OF COMPANY MERGERS TO BE RATIONALIZED, PROCESS TO BE MADE SIMPLER

    Posted On: 01 FEB 2025 1:21PM by PIB Delhi

    Budget 2025-26  aims to initiate transformative reforms across six domains which will augment our growth potential and global competitiveness during the next five years, the Union Finance & Corporate Affairs Minister said while presenting the Union Budget 2025-26 in the Parliament today.  

    One of these domains is Financial Sector which encompasses sectors like Insurance, Pensions, Bilateral Investment Treaties (BIT) and so forth.

    FDI in Insurance Sector

    Smt. Nirmala Sitharaman informed that the FDI limit for the insurance sector will be raised from 74 to 100 per cent. This enhanced limit will be available for those companies which invest the entire premium in India. The current guardrails and conditionalities associated with foreign investment will be reviewed and simplified.

    Pension Sector

    A forum for regulatory coordination and development of pension products will be set up, the Union Finance Minister stated.

    KYC Simplification

    To implement the earlier announcement on simplifying the KYC process, the revamped Central KYC Registry will be rolled out in 2025, Smt. Nirmala Sitharaman said. A streamlined system for periodic updating will also be implemented.

    Merger of Companies

    The Union Finance Minister also said that requirements and procedures for speedy approval of company mergers will be rationalized. The scope for fast-track mergers will also be widened and the process will be made simpler.

    Bilateral Investment Treaties

    To encourage sustained foreign investment and in the spirit of ‘first develop India’, the current model BIT will be revamped and made more investor-friendly, the Union Finance Minister added.

    ****

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  • MIL-OSI Asia-Pac: INVESTMENT AND TURNOVER LIMITS FOR CLASSIFICATION OF ALL MSMEs TO BE ENHANCED TO 2.5 AND 2 TIMES RESPECTIVELY

    Source: Government of India (2)

    INVESTMENT AND TURNOVER LIMITS FOR CLASSIFICATION OF ALL MSMEs TO BE ENHANCED TO 2.5 AND 2 TIMES RESPECTIVELY

    CREDIT GUARANTEE COVER FOR MICRO AND SMALL ENTERPRISES ENHANCED FROM 5 CRORE TO 10 CRORE

    10 LAKH CUSTOMIZED CREDIT CARDS WITH A 5 LAKH LIMIT FOR MICRO ENTERPRISES REGISTERED ON UDYAM PORTAL TO BE INTRODUCED IN THE FIRST YEAR

    NEW FUND OF FUNDS of Rs. 10,000 CRORE TO BE SET UP FOR START-UPS

    A NEW SCHEME TO PROVIDE LOANS UP TO 2 CRORE DURING THE NEXT 5 YEARS FOR 5 LAKH WOMEN, SCHEDULED CASTES AND SCHEDULED TRIBES FIRST-TIME ENTREPRENEURS TO BE LAUNCHED

    EXPORT PROMOTION MISSION TO FACILITATE EASY ACCESS TO EXPORT CREDIT AND SUPPORT MSMEs TO TACKLE NON-TARIFF MEASURES IN OVERSEAS MARKETS ANNOUNCED

    Posted On: 01 FEB 2025 1:17PM by PIB Delhi

    The Union Budget 2025-26 sees the next five years as a unique opportunity to realize ‘Sabka Vikas’, stimulating balanced growth of all regions and achieving the goal of Viksit Bharat.

    The Union Budget defines MSMEs as one of the powerful engines for the story of development and the proposed development measures supports MSMEs to accelerate growth and secure inclusive development.

    Revision in classification criteria for MSMEs

    While presenting the Union Budget 2025-26 in Parliament today, the Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman said “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 will be enhanced to 2.5 and 2 times respectively.” The details are in Figure 1.

    She further said that this will give them the confidence to grow and generate employment for our youth.

    Rs. in Crore

    Investment

    Turnover

     

    Current

    Revised

    Current

    Revised

    Micro Enterprises

    1

    2.5

    5

    10

    Small Enterprises

    10

    25

    50

    100

    Medium Enterprises

    50

    125

    250

    500

    (Figure 1)

     

    Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman stated that currently, over 1 crore registered MSMEs, employing 7.5 crore people, and generating 36 per cent of our manufacturing, have come together to position India as a global manufacturing hub.  She also remarked “With their quality products, these MSMEs are responsible for 45 per cent of our exports.”  

    Significant enhancement of credit availability with guarantee cover

    Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman said that to improve access to credit, the credit guarantee cover will be enhanced:

    a) For Micro and Small Enterprises, from 5 crore to 10 crore, leading to additional credit of  1.5 lakh crore in the next 5 years;

    b) For Startups, from 10 crore to 20 crore, with the guarantee fee being moderated to 1 per cent for loans in 27 focus sectors important for Atmanirbhar Bharat; and

    c) For well-run exporter MSMEs, for term loans up to 20 crore.

    Credit Cards for Micro Enterprises

    Union Minister Smt. Nirmala Sitharaman announced that customized Credit Cards with a 5 lakh limit for micro enterprises registered on Udyam portal will be introduced. She further remarked that in the first year, 10 lakh such cards will be issued.

    Fund of Funds for Startups

    In her Budget speech, Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman said, “The Alternate Investment Funds (AIFs) for startups have received commitments of more than 91,000 crore. These are supported by the Fund of Funds set up with a Government contribution of 10,000 crore.” She announced that now, a new Fund of Funds, with expanded scope and a fresh contribution of another 10,000 crore will be set up.

    Scheme for First-time Entrepreneurs

    Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman announced that a new scheme will be launched for 5 lakh women, Scheduled Castes and Scheduled Tribes first-time entrepreneurs. She informed that this will provide term loans up to 2 crore during the next 5 years. In her speech she said, “The scheme will incorporate lessons from the successful Stand-Up India scheme. Online capacity building for entrepreneurship and managerial skills will also be organized.”

    Deep Tech Fund of Funds

    Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman informed that a Deep Tech Fund of Funds will also be explored to catalyze the next generation startups as a part of this initiative.

    Export Promotion Mission

    Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman stated that an Export Promotion Mission, with sectoral and ministerial targets, driven jointly by the Ministries of Commerce, MSME, and Finance will be set up. She also informed that the Mission will facilitate easy access to export credit, cross-border factoring support, and support to MSMEs to tackle non-tariff measures in overseas markets.

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  • MIL-OSI Asia-Pac: ` 1 LAKH CRORE URBAN CHALLENGE FUND TO IMPLEMENT ‘CITIES AS GROWTH HUBS’

    Source: Government of India (2)

    ` 1 LAKH CRORE URBAN CHALLENGE FUND TO IMPLEMENT ‘CITIES AS GROWTH HUBS’

    NATIONAL GEOSPATIAL MISSION TO DEVELOP FOUNDATIONAL GEOSPATIAL INFRASTRUCTURE AND DATA

    GIG WORKERS TO GET IDENTITY CARDS AND REGISTRATION ON THE E-SHRAM PORTAL

    GIG-WORKERS WILL BE PROVIDED HEALTHCARE UNDER PM JAN AROGYA YOJANA, NEARLY 1 CRORE TO GET ASSISTED

    UPI LINKED CREDIT CARDS WITH ` 30,000 LIMIT UNDER PM SVANIDHI SCHEME

    Posted On: 01 FEB 2025 1:13PM 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 the Government will set up an Urban Challenge Fund of ` 1 lakh crore to implement the proposals for ‘Cities as Growth Hubs’, ‘Creative Redevelopment of Cities’ and ‘Water and Sanitation’ announced in the July Budget.

    She further added this fund will finance up to 25 per cent of the cost of bankable projects with a stipulation that at least 50 per cent of the cost is funded from bonds, bank loans, and PPPs. An allocation of  ` 10,000 crore is proposed for 2025-26.

    The Budget has proposed that a National Geospatial Mission will be started to develop foundational geospatial infrastructure and data. Using PM Gati Shakti, this Mission will facilitate modernization of land records, urban planning, and design of infrastructure projects.

    Smt. Sitharaman said that the Government has been giving priority to assisting urban poor and vulnerable groups. A scheme for socio-economic upliftment of urban workers will be implemented to help them improve their incomes, have sustainable livelihoods and a better quality of life.

    Gig workers of online platforms provide great dynamism to the new-age services economy. Recognising their contribution, our Government will arrange for their identity cards and registration on the e-Shram portal. They will be provided healthcare under PM Jan Arogya Yojana. This measure is likely to assist nearly 1 crore gig-workers.

    Finance Minister highlighted that the PM SVANidhi scheme has benefitted more than 68 lakh street vendors giving them respite from high-interest informal sector loans. Building on this success, the scheme will be revamped with enhanced loans from banks, UPI linked credit cards with ` 30,000 limit, and capacity building support.

    She highlighted that Under the Special Window for Affordable and Mid-Income Housing (SWAMIH) fifty thousand dwelling units in stressed housing projects have been completed, and keys handed over to home-buyers. Another forty thousand units will be completed in 2025, further helping middle-class families who were paying EMIs on loans taken for apartments, while also paying rent for their current dwellings.

    Building on this success, SWAMIH Fund 2 will be established as a blended finance facility with contribution from the Government, banks and private investors. This fund of ` 15,000 crore will aim for expeditious completion of another 1 lakh units.

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  • MIL-OSI Asia-Pac: UNION BUDGET 2025-26: BOOST TO SHIPPING AND AVIATION SECTOR

    Source: Government of India (2)

    UNION BUDGET 2025-26: BOOST TO SHIPPING AND AVIATION SECTOR

    MARITIME DEVELOPMENT FUND OF Rs 25,000 CRORE PROPOSED

    MODIFIED UDAN SCHEME TO CONNECT 120 NEW DESTINATIONS AND CARRY 4 CRORE PASSENGERS IN NEXT 10 YEARS

    GREENFIELD AIRPORTS AND WESTERN KOSHI CANAL PROJECT FOR BIHAR

    Posted On: 01 FEB 2025 1:11PM by PIB Delhi

    For long-term financing for the maritime industry, the Union Finance Minister Smt. Nirmala Sitharaman has proposed to set up a Maritime Development Fund with a corpus of Rs 25,000 crore. Announcing this in her budget speech in the Parliament today, the Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman said that this corpus will be for distributed support and promoting competition in the maritime industry. The fund will have up to 49 per cent contribution by the Government, and the balance will be mobilized from ports and private sector.

    The Finance Minister stated that the Shipbuilding Financial Assistance Policy will be revamped to address cost disadvantages, which will also include Credit Notes for shipbreaking in Indian yards to promote the circular economy. Further, the large ships above a specified size are also proposed to be included in the infrastructure harmonized master list (HML). The Union Budget also proposes to facilitate ‘Shipbuilding Clusters’ in order to increase the range, categories and capacity of ships. This will include additional infrastructure facilities, skilling and technology to develop the entire ecosystem. Acknowledging that the shipbuilding has a long gestation period, the Finance Minister proposed to continue the exemption of Basic Customs Duty on raw materials, components, consumables or parts for the manufacture of ships for another ten years. She further proposed the same dispensation for ship breaking to make it more competitive.

    Praising the Regional Connectivity Scheme UDAN, Smt. Nirmala Sitharaman said in her speech that UDAN has enabled 1.5 crore middle-class people to meet their aspirations for speedier travel. The scheme has connected 88 airports and operationalized 619 routes. Inspired by that success, a modified UDAN scheme which will be launched to enhance regional connectivity to 120 new destinations and carry 4 crore passengers in the next 10 years and this scheme will also support helipads and smaller airports in hilly, aspirational, and North East region districts, stated the Finance Minister. She also informed the house that the government will facilitate upgradation of infrastructure and warehousing for air cargo including high value perishable horticulture produce. Cargo screening and customs protocols will also be streamlined and made user-friendly.

    Giving infrastructure fillip to the state of Bihar, the Union Finance Minster proposed that the Greenfield airports will be facilitated in Bihar to meet the future needs of the State. These will be in addition to the expansion of the capacity of Patna airport and a brownfield airport at Bihta. Financial support will also be provided for the Western Koshi Canal ERM Project benefitting a large number of farmers cultivating over 50,000 hectares of land in the Mithilanchal region of Bihar.

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  • MIL-OSI Asia-Pac: Severe case of influenza A infection in unvaccinated child reported

    Source: Hong Kong Government special administrative region

         The Centre for Health Protection (CHP) of the Department of Health today (February 1) received a report of a case of severe paediatric influenza A infection in a boy who had not yet received the seasonal influenza vaccination (SIV). He is still hospitalised and in critical condition. The CHP urged the public who have not yet received the SIV to act immediately to minimise the risk of serious complications and death after infection.
               
         “The 19 month-old boy with good past health developed a fever and cough since January 30. He attended Hong Kong Baptist Hospital yesterday and was later transferred to Kwong Wah Hospital, where he remains in the paediatric intensive care unit. His nasopharyngeal swab specimen was tested positive for the influenza A (H1) virus upon laboratory testing. The clinical diagnosis was influenza A infection complicated with severe pneumonia,” a spokesman for the CHP said.

         The boy had no travel history during the incubation period. His household contacts, so far, are asymptomatic. An initial investigation revealed that he did not receive 2024/25 SIV. The CHP reiterated its call to the parents to bring their children to receive SIV as soon as possible.
               
         “Including the above-mentioned boy, the CHP has recorded nine cases of severe influenza virus infection in children since the start of this influenza season in early January, seven of whom were unvaccinated. Influenza vaccination has been scientifically proven to be one of the most effective ways to prevent seasonal influenza and its complications, while significantly reducing the risk of hospitalisation and death from seasonal influenza. All persons aged 6 months and above (except those with known contraindications) who have not yet received SIV should act immediately, particularly the elderly and children who have a higher risk of becoming infected with influenza and developing complications,” the spokesman said.
               
         Furthermore, the SIV coverage rate for children aged 6 months to under 2 years remained relatively low at about 20.9 per cent as of January 26. Although slightly higher than that of the same period last year, it was still lower than that of other age groups of children. To enhance relevant vaccination services and boost the vaccination rate, the Government has opened the DH’s Maternal and Child Health Centres (MCHCs) to all children aged 6 months to under 2 years. Parents may book an appointment for their children to receive vaccinations at designated MCHCs via the online booking system.
              
         The spokesman reminded the public that Hong Kong is currently in the influenza season. The seasonal influenza activity is expected to increase further while the activity of other respiratory infectious diseases may also increase. To protect their health and that of their family members, the public should not only receive SIV, but also maintain good personal and environmental hygiene, but also maintain good personal and environmental hygiene, and take the following measures to prevent contacting influenza and other respiratory illnesses: 
        

    Patients can wear surgical masks to prevent transmission of respiratory viruses. Therefore, it is essential for persons who are symptomatic (even if having mild symptoms) to wear a surgical mask;
    High-risk persons (e.g. persons with underlying medical conditions or persons who are immunocompromised) should wear surgical masks when visiting public places. The general public should also wear a surgical mask when taking public transport or staying in crowded places. It is important to wear a mask properly, including performing hand hygiene before wearing and after removing a mask;
    Avoid touching one’s eyes, mouth and nose;
    Practise hand hygiene frequently, wash hands with liquid soap and water properly whenever possibly contaminated;
    When hands are not visibly soiled, clean them with 70 to 80 per cent alcohol-based handrub;
    Cover the mouth and nose with tissue paper when sneezing or coughing. Dispose of soiled tissue paper properly into a lidded rubbish bin, and wash hands thoroughly afterwards;
    Maintain good indoor ventilation;
    Avoid sharing personal items;
    When having respiratory symptoms, wear a surgical mask, consider to refrain from going to work or school, avoid going to crowded places and seek medical advice promptly; and
    Maintain a balanced diet, perform physical activity regularly, take adequate rest, do not smoke and avoid overstress.

         For the latest information, members of the public can visit the CHP’s seasonal influenza and COVID-19 & Flu Express webpages. 

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Empowering Rural Communities

    Source: Government of India (2)

    Posted On: 01 FEB 2025 4:07PM by PIB Delhi

    Flagship Schemes Driving Growth

     

    The Government of India has launched several flagship schemes aimed at fostering inclusive rural development, poverty alleviation, and livelihood enhancement. These initiatives, implemented under the Ministry of Rural Development and other key departments, address critical areas such as employment generation, housing, infrastructure, skill development, and social welfare.

    Mahatma Gandhi NREGA

    The vision of Mahatma Gandhi NREGA is to enhance the livelihood security of rural households across the country by providing at least 100 days of guaranteed wage employment in a financial year to every rural household whose adult members volunteer to do unskilled manual work. Mahatma Gandhi NREGA recognizes the importance of strengthening the livelihood resource base of the poor by reaching the most vulnerable sections of rural areas, including Scheduled Castes, Scheduled Tribes, women-headed households, and other marginalized groups.

    Mission Antyodaya

    Adopted in Union Budget 2017-18, Mission Antyodaya is a convergence and accountability framework aiming to bring optimum use and management of resources allocated by 26 Ministries / Department of the Government of India under various programmes for the development of rural areas. It is envisaged as state-led initiative with Gram Panchayats as focal points of convergence efforts.

    Deendayal Antyodaya Yojana – National Rural Livelihoods Mission

    The DAY-NRLM scheme is a comprehensive initiative designed to empower rural women and enhance their livelihoods by fostering community institutions that provide crucial financial, technical, and marketing resources. It emphasizes social inclusion through Social Behaviour Change Communication (SBCC) and facilitates access to government schemes like Swachh Bharat Mission and Poshan Abhiyan, ensuring multi-sectoral convergence. 

     

     

    Pradhan Mantri Awas Yojana –Gramin

    The Pradhan Mantri Awas Yojana Gramin was launched on 20th November 2016, aiming to provide housing for the poorest segments of society. Beneficiaries are selected through a rigorous three-stage validation process that includes the Socio-Economic Caste Census (SECC 2011) and Awaas+ (2018) surveys, Gram Sabha approvals, and geo-tagging. This ensures that aid reaches the most deserving individuals.

    Sl. No.

    Key Parameter Indicators

    Status as on 31.01.25

    1

    Target

    3,79,37,139

    2

    Beneficiaries Registered

    3,70,94,350

    4

    House Sanctioned

    3,31,96,085

    5

    House Completed

    2,69,47,215

    PMAY-G Progress

    Pradhan Mantri Gram Sadak Yojana (PMGSY)

    The Pradhan Mantri Gram Sadak Yojana (PMGSY), was launched by the Govt. of India to provide connectivity to unconnected Habitations as part of a poverty reduction strategy. Govt. of India is endeavoring to set high and uniform technical and management standards and facilitating policy development and planning at State level in order to ensure sustainable management of the rural roads network.

    PMGSY Progress

    National Social Assistance Programme (NSAP)

    The National Social Assistance Programme (NSAP) is a welfare programme being administered by the Ministry of Rural Development. This programme is being implemented in rural areas as well as urban areas. NSAP represents a significant step towards the fulfilment of the Directive Principles of State Policy enshrined in the Constitution of India which enjoin upon the State to undertake within its means a number of welfare measures. These are intended to secure for the citizens adequate means of livelihood, raise the standard of living, improve public health, provide free and compulsory education for children etc.

     

    Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY)

    The Ministry of Rural Development (MoRD) announced the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY) on Antyodaya Diwas – 25th September 2014. DDU-GKY is a part of the National Rural Livelihood Mission (NRLM), tasked with the dual objectives of adding diversity to the incomes of rural poor families and cater to the career aspirations of rural youth.

    Cumulative progress till 2024-25

    Rural Self Employment Training Institutes (RSETIs)

    RSETIs are managed by Banks with active co-operation from the Government of India and State Government. These are Dedicated institutions designed as to ensure necessary skill training and skill up gradation of the rural BPL youth to mitigate the unemployment problem. After successful completion of the training, they will be provided with credit linkage assistance by the banks to start their own entrepreneurial ventures.

    Namo Drone Didi

    On 15th August, 2023, the Hon’ble Prime Minister Shri Narendra Modi announced the launch of the “Namo Drone Didi” Yojana which aimed to empower women by hand holding them into a sustainable business model where they can increase their income by more than Rs 1 Lakh, and transforming the modern farming ecosystem with drone technology.

    Rashtriya Gram Swaraj Abhiyan (RGSA)

    The scheme was approved by the Union Cabinet on 21.04.2018 for implementation from Financial Year 2018-19 to 2021-22. The primary aim of RGSA was to strengthen PRIs for achieving Sustainable Development Goals (SDGs) with main thrust on convergence with Mission Antyodaya and emphasis on strengthening PRIs in 117 Aspirational districts.

    The Government of India’s flagship rural development schemes have played a transformative role in enhancing livelihoods, improving infrastructure, and fostering socio-economic inclusion. By prioritizing employment generation, housing, skill development, and financial empowerment, these initiatives have significantly contributed to rural prosperity.

    References

    https://nreganarep.nic.in/netnrega/MISreport4.aspx

    https://dashboard.rural.nic.in/dashboardnew/ddugky.aspx

    https://nsap.nic.in/

    https://omms.nic.in/dbweb

    https://namodronedidi.php-staging.com/about-scheme

    Click here for pdf file 

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  • MIL-OSI Asia-Pac: Prime Minister Shri Narendra Modi’s remarks on Union Budget 2025-26

    Source: Government of India (2)

    Prime Minister Shri Narendra Modi’s remarks on Union Budget 2025-26

    Viksit Bharat Budget 2025-26 will fulfill the aspirations of 140 crore Indians: PM

    Viksit Bharat Budget 2025-26 is a force multiplier: PM

    Viksit Bharat Budget 2025-26 empowers every citizen: PM

    Viksit Bharat Budget 2025-26 will empower the agriculture sector and give boost to rural economy: PM

    Viksit Bharat Budget 2025-26 greatly benefits the middle class of our country: PM

    Viksit Bharat Budget 2025-26 has a 360-degree focus on manufacturing to empower entrepreneurs, MSMEs and small businesses: PM

    Posted On: 01 FEB 2025 3:58PM by PIB Delhi

    The Prime Minister Shri Narendra Modi delivered his remarks on the Union Budget 2025-26 via video message today. Highlighting that today marked an important milestone in the journey of India’s development, Shri Modi remarked that this budget reflects the aspirations of 140 crore Indians and fulfills the dreams of every citizen. He highlighted that several sectors were opened up for the youth, and the common citizen will drive the mission of Viksit Bharat (Developed India). The Prime Minister emphasized that this budget is a force multiplier which would increase the savings, investment, consumption, and growth. He congratulated the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman and her team for this ‘People’s Budget’. 

    Prime Minister remarked that typically, the focus of the budget is on how to fill the Government’s treasury. However, he said this budget focused on how to fill the pockets of the citizens, increase their savings, and make them partners in the country’s development. He emphasized that this budget lays the foundation for these goals.

    “Significant steps have been taken towards reforms in this budget”, said Shri Modi and highlighted the historic decision to promote the private sector in nuclear energy. He added that civil nuclear energy will ensure a significant contribution to the country’s development in the future. He emphasized that all employment sectors were given priority in the budget. Pointing out two major reforms that will bring significant changes in the coming time, Shri Modi said that  granting infrastructure status to shipbuilding will boost the construction of large ships in India, accelerating the Atmanirbhar Bharat Abhiyaan and including hotels at 50 tourist destinations under the infrastructure category will significantly boost tourism, providing new energy to the hospitality sector, which is the largest employment sector. The Prime Minister stated that the country was progressing with the mantra of “Vikas bhi, Virasat bhi” (Development and Heritage). He mentioned that significant steps were taken in this budget to preserve one crore manuscripts through the launch of the Gyan Bharatam Mission. Additionally, a National Digital Repository inspired by Indian knowledge traditions will be created.

    Remarking that the announcements made in the budget for farmers will lay the foundation for a new revolution in the agricultural sector and the entire rural economy, Shri Modi highlighted that under the PM Dhan-Dhanya Krishi Yojana, irrigation and infrastructure development will take place in 100 districts. He emphasized that increasing the limit of the Kisan Credit Card from ₹3 lakh to ₹5 lakh will provide greater assistance to farmers.

    Highlighting that the budget has exempted income up to ₹12 lakh from tax, the Prime Minister said tax reductions were made for all income groups, which will greatly benefit the middle class and those who have been newly employed. 

    “The budget has a 360-degree focus on manufacturing to strengthen entrepreneurs, MSMEs, and small businesses, creating new jobs”, emphasised the Prime Minister. He highlighted that sectors like clean tech, leather, footwear, and the toy industry had received special support under the National Manufacturing Mission. He stressed that the goal was clear to ensure Indian products to shine in the global market.

    Pointing that the budget places special emphasis on creating a vibrant and competitive investment environment in the states, Shri Modi  highlighted the announcement to double the credit guarantee for MSMEs and startups. He mentioned the introduction of a scheme to provide loans up to ₹2 crore without guarantee for SC, ST, and women first- time entrepreneurs. He emphasized the significant announcement for gig workers, with their registration on the e-Shram portal for the first time, enabling them to access healthcare and other social security schemes. The Prime Minister stated that this reflects the Government’s commitment to the dignity of labor. He highlighted that regulatory and financial reforms, such as Jan Vishwas 2.0, will strengthen the commitment to minimum government and trust-based governance.

    Concluding his address, the Prime Minister remarked that this budget not only addresses the current needs of the country but also helps in preparing for the future. He highlighted the initiatives for startups, including the Deep Tech Fund, Geospatial Mission, and Nuclear Energy Mission. He extended his congratulations to all citizens for this historic budget.

     

     

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  • MIL-OSI Asia-Pac: Building a Future-Ready India

    Source: Government of India (2)

    Posted On: 01 FEB 2025 3:05PM by PIB Delhi

    Schemes Driving Skill Development and Empowerment

     

    Introduction

     

    India’s Skill India Mission (SIM), driven by the Ministry of Skill Development and Entrepreneurship, is equipping youth with essential industry-relevant skills through various programs like Pradhan Mantri Kaushal Vikas Yojana (PMKVY) and Jan Shikshan Sansthan (JSS). These initiatives focus on skill development, re-skilling and up-skilling, empowering millions with the tools needed for sustainable careers. By bridging the skill gap, fostering innovation, and creating new job opportunities, SIM is paving the way for a self-reliant and developed India (Atmanirbhar and Viksit Bharat).

     

    Pradhan Mantri Kaushal Vikas Yojana

    Launch Date: PMKVY was introduced in 2015, and its 4.0 version is being implemented from FY 2022 to 2026.

    Objective: To encourage and promote skill development in the country by providing free short-duration skill training and incentivizing youth for skill certification.

    Key Achievements:

    1. PMKVY 1.0 successfully trained over 19.86 lakh candidates.
    2. Since 2015, the scheme has trained/oriented 1.48 crore candidates by 30th June, 2024.

    Jan Shikshan Sansthan (JSS)

    Launch Date: Transferred from Ministry of Education (erstwhile Ministry of Human Resource Development) to Ministry of Skill Development & Entrepreneurship in July, 2018.

    Objective: Aims to provide vocational training to non-literates, neo-literates as well as school drop-outs in rural regions by identifying skills that have a relevant market in that region.

    Key Achievements: 

    1. 4,29,762 beneficiaries enrolled, with 2,45,239 trained, 2,38,048 assessed and 2,37,729 certified under JSS.
    2. 32 States & UTs, 283 districts, 289 JSS, and 11,338 JSS sub-centers engaged in FY 2024-25. (Data pertains to FY 2024-25 as of 28.01.2025).

    PM Vishwakarma Yojana

    Launch Date: 17th September, 2023

    Objective: The Scheme aims to provide end-to-end support to artisans and craftspeople of 18 trades who work with their hands and tools. The Scheme components include recognition through PM Vishwakarma Certificate and ID Card, Skill Upgradation, Toolkit Incentive, Credit Support, Incentive for Digital Transactions and Marketing Support. PM Vishwakarma will be implemented as a Central Sector Scheme, fully funded by the Government of India, with an initial outlay of Rs 13,000 crore and is set to run for five years, until 2027-28.

    Key Achievements:

    1. As of January 28, 2025, a total of 2,64,97,537 applications have been submitted under the PM Vishwakarma Yojana, with 27,01,087 applications successfully registered.

    Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY)

    Launch: 25th September 2014.

     

    Objective: DDU-GKY is a part of the National Rural Livelihood Mission (NRLM), tasked with the dual objectives of adding diversity to the incomes of rural poor families and cater to the career aspirations of rural youth. 

    Key Achievements:

    1. Under Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY), 65% of the candidates have been placed in gainful employment after completing their training. From FY 2014-15 a total of 16,90,046 candidates have been trained and 10,97,265 candidates have been placed till November, 2024.

    Rural Self Employment and Training Institutes (RSETIs)

    Launch: January 2009

     

    Objective: The scheme envisage framework for imparting good quality residential free training and post training follow up with credit linkage for sustained motivation among the trainees for promoting entrepreneurship among the rural youth. As RSETIs are Bank lead institutions they are prefixed with the name of the respective sponsor banks to give distinct identity.

    Key Achievements:

    1. A total of Rs. 89,639.09 Lakh has been released for RSETI from FY 2014-15 to FY 2024-25.
    2. As of January 1, 2025, a total of 54,03,231 candidates have been trained in the 2024-25 financial year, compared to 22,89,737 candidates trained in the 2016-17 financial year. 

    Click here to download PDF

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  • MIL-OSI Asia-Pac: Redefining Women’s Empowerment in India

    Source: Government of India (2)

    Posted On: 01 FEB 2025 2:58PM by PIB Delhi

    A Comprehensive Framework for Progress

     

    Synopsis

    The Ministry of Women and Child Development has spearheaded major initiatives to enhance women’s safety, security, and overall well-being. Key programs like Mission Shakti have supported 10.61 lakh women through One Stop Centres (OSCs), while the Women Helpline (181-WHL) has assisted lakhs of women in distress. Beti Bachao Beti Padhao (BBBP) has contributed to an improved Sex Ratio at Birth (SRB) from 918 (2014-15) to 930 (2023-24), and Gross Enrollment Ratio (GER) of girls in secondary schools has risen from 75.51% to 78% in the same period. For economic empowerment, Sakhi Niwas provides secure accommodation for working women, and Palna ensures daycare support. Nari Adalat offers grievance redressal at the Gram Panchayat level, while SANKALP serves as a resource hub for women’s welfare schemes. The total expenditure incurred under the Pradhan Mantri Mudra Yojana (PMMY) has consistently increased over the years, rising from ₹1,478.73 crore in 2021-22 to ₹1,814.86 crore in 2023-24, reflecting the government’s continued support for micro and small enterprises. Health interventions have also yielded positive results. Maternal Mortality Rate (MMR) has dropped from 130 per lakh live births (2014-16) to 97 (2018-20). Mission Saksham Anganwadi & Poshan 2.0 supports 9.88 crore beneficiaries, with 6.77 lakh AWCs having their own buildings, 9.93 lakh AWCs with functional toilets, and 12.31 lakh AWCs with drinking water access.

     

    The empowerment of women is a transformative process that ensures women have equal access to opportunities in all areas of life: economic, cultural, social, and political. This not only enhances their individual potential but also contributes to societal progress. India has made remarkable strides in empowering women, focusing on their safety, security, economic independence, and social inclusion. This document outlines some of the key programs driving India’s progress in women’s empowerment, demonstrating the nation’s commitment to creating a more equitable and inclusive society.

     

    Mission Shakti

     

     

    The Ministry has formulated ‘Mission Shakti’, an Integrated Women Empowerment Programme, as Umbrella Scheme for the Safety, Security and Empowerment of Women for implementation during the 15th Finance Commission period from 2021-22 to 2025-26. This initiative has been instrumental in improving the lives of women across the country through its two main verticals: Sambal (for safety and security) and Samarthya (for empowerment).

     

    One Stop Centres (OSCs)

     

    One Stop Centres provides integrated support and assistance under one roof to women affected by violence and those in distress, both in private and public spaces. It provides services like medical aid, legal aid and advice, temporary shelter, police assistance and psycho-social counselling to needy women. Since inception until 31 2024, 10,61,337 women have received assistance through OSCs, demonstrating a significant impact in providing protection and rehabilitation.

     

    Women Helpline (181-WHL)

    WHL is a component of Sambal vertical under Mission Shakti, aims to provide 24x7x365 emergency and non-emergency response through telephonic short-code 181 to women, both in public and private spaces by linking them with appropriate authorities such as Police, One Stop Centres, Hospitals, Legal Services Authorities etc. Additionally, it provides information about women welfare schemes and programs.

    Data till 31 December 2024

     

    Beti Bachao Beti Padhao (BBBP)

    BBBP scheme was launched on 22nd January 2015. The scheme aims to prevent gender biased sex selective elimination, ensure survival and protection of girl child and also to ensure education of the girl child.

    As per the latest reports of Health Management Information System (HMIS) of Ministry of Health &Family welfare (MoHFW) reveal that SRB is showing improving trends and has increased from 918 in 2014-15 to 930 (Provisional) in 2023-24 at national level. Gross enrollment ratio of girls in the schools at secondary level has increased from 75.51 percent in (2014-15) to 78 percent in (2023-24) [as per UDISE-data, MoE].

    Nari Adalat

    Nari Adalat aims for providing women with an alternate Grievance Redressal Mechanism for resolving cases of petty nature (harassment, subversion, curtailment of rights or entitlements) faced by them at Gram panchayat level by negotiation, mediation, and reconciliation with mutual consent for speedy, accessible, and affordable justice. It is also used as a platform for awareness of right, entitlements, social facilitation and hand holding of women centric organizations.

    Data till 31 December 2024

     

    Shakti Sadans

     

    Shakti Sadan Scheme is an Integrated Relief and Rehabilitation Home for women in distressful situations including trafficked women. It aims at creating a safe and enabling environment for the women in such difficult situations, to enable them to overcome the adverse circumstances.

     

    Palna

     

    The Government of India has decided to provide the day-care creche facilities through the component of Palna. Anganwadi centres are the world’s largest childcare institutions dedicated to providing essential care and support to children ensuring delivery of care facilities till the last mile. This will ensure whole day childcare support ensuring their well-being in a safe and secure environment. The objective of Palna component is to provide quality creche facility in safe and secure environment for children.

    Data till 31 December 2024

     

    Sakhi Niwas

     

    The objective of the Scheme is to provide safe, secure, conveniently located, and affordable accommodation for women who are in the workforce and/or aspire to join the workforce. The scheme also makes a provision of Day Care Centre for children of the residents of the Sakhi Niwas.

    Data till 31 December 2024

     

    Pradhan Mantri Matru Vandana Yojana (PMMVY)

     

    The Pradhan Mantri Matru Vandana Yojana (PMMVY) provides financial compensation for loss of wages due to pregnancy and childbirth. The scheme, previously limited to the first child, has now been extended to cover the second child if the child is a girl—a progressive step towards promoting gender equality.

    SANKALP

     

    The SANKALP: HEW (Hub for Empowerment of Women) will serve as a vehicle to bridge the information and knowledge gap regarding schemes and facilities available for women as well as guide them to avail the benefits and entitlements. It will also serve as a Project Monitoring Unit (PMU) for all components under Mission Shakti and will work in convergence with the Beti Bachao Beti Padhao (BBBP) scheme.

    Data till 31 December 2024

     

    Mission Saksham Anganwadi and Poshan 2.0

     

    The Government of India approved “Mission Saksham Anganwadi and Poshan 2.0” (also referred to as Mission Poshan 2.0) which is a strategic shift in mission mode to develop practices that nurture health, wellness, and immunity from malnutrition. With 13,99,890 Anganwadi Centers (AWCs) operating across 36 States/UTs and 781 districts, the mission aims to enhance the health, wellness, and immunity of children, adolescent girls, pregnant women, and lactating mothers. Supported by 13,31,622 Anganwadi Workers, it ensures nutritional benefits reach 9,88,74,477 eligible beneficiaries. Infrastructure improvements include 6,77,349 AWCs with their own buildings, 9,93,863 with functional toilets, and 12,31,201 with access to drinking water. Additionally, in December 2024, 12,93,863 AWCs operated for at least 15 days, 11,86,509 for at least 21 days, and 8,54,395 for at least 25 days.

    Beneficiaries under Poshan Abhiyaan

    Data as on 31 December 2024

     

    Decreased Maternal Mortality Ratio

     

    India’s Maternal Mortality Rate (MMR) has significantly declined from 130 per lakh live births (2014-16) to 97 per lakh live births (2018-20), reflecting improved maternal healthcare services, institutional deliveries, and strengthened healthcare interventions.

    Conclusion

     

    The ongoing efforts to promote women’s empowerment have led to tangible improvements in multiple areas, from social and economic participation to access to essential services. By addressing key challenges and ensuring a supportive ecosystem, these measures have played a crucial role in enhancing women’s autonomy and decision-making power. Continued focus on inclusive policies, awareness, and institutional strengthening will be essential in building a more equitable society where every woman can thrive and contribute to the nation’s development.

     

    References

    RAJYA SABHA UNSTARRED QUESTION NO. 2720 Session 266

    RAJYA SABHA UNSTARRED QUESTION NO. 2717 Session 266

    Annual Report 2023-24: https://wcd.gov.in/documents/uploaded/1732020683.pdf

    https://missionshakti.wcd.gov.in/

    LOK SABHA UNSTARRED QUESTION NO. 1931 session III

    Click here to download PDF

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  • MIL-OSI Asia-Pac: India’s Growing Focus on Youth and Sports

    Source: Government of India

    Posted On: 01 FEB 2025 2:49PM by PIB Delhi

    “I and you, we should all encourage people for a Viksit Bharat. We should motivate especially young minds to realize this dream.”

    ~ Prime Minister Shri Narendra Modi

     

    Introduction

     

    India has the largest youth population in the world, with about 65% of its people under the age of 35. Recognizing the potential of this demographic dividend, the Ministry of Youth Affairs and Sports plays a crucial role in youth development and sports promotion. It focuses on personality-building, skill enhancement, and fostering national integration through various initiatives. The Ministry operates through two key departments:

    • Department of Youth Affairs – Engages youth in leadership, employment, and community-building programs.
    • Department of Sports – Develops infrastructure, supports athletes, and promotes competitive sports.

    Over the years, the Ministry has launched several initiatives to empower youth, enhance sports participation, and improve India’s international standing in sports.

     

    Overview of Budget Allocation

     

    Under the visionary leadership of Prime Minister, the Government of India has prioritized sports and youth affairs, boosting the ecosystem with comprehensive support. The Budget allocation for the Ministry of Youth Affairs and Sports has seen a significant rise, from Rs. 466 crores in 2004-05 to Rs. 3397.32 crores for FY 2023-24. This marks an 11% increase compared to FY 2022-23 and is the highest since 2010. The allocation is over three times that of 2011-12 and nearly double that of 2014-15.

     

    Khelo India – National Programme for Development of Sports

    The Khelo India Scheme, launched in 2016-17, has seen significant financial growth over the years, reflecting the government’s commitment to promoting mass participation and excellence in sports across India. The scheme aims to foster sports culture and achieve sporting excellence nationwide

    It encourages sports participation throughout the country, leveraging sports’ holistic influence for the development of children and youth, community development, social integration, gender equality, a healthy lifestyle, national pride, and economic opportunities related to sports development.

     

    2017-18 to 2019-20:

    • Financial outlay of Rs. 1756 crore approved for three years to revamp the scheme.

     2020-21:

    • Budget of Rs. 328.77 crore allocated for one

    2021-22 to 2025-26:

    • Financial outlay increased to Rs. 3790.50 crore for five more years, marking a significant boost in funding to support a broader range of activities and enhance sports infrastructure.

    These increasing financial allocations over the years highlight the growing importance of sports development in India, with a clear focus on long-term growth and sustainability in the sector.

    Key Achievements:

    • 323 new sports infrastructure projects approved, totaling Rs. 3073.97 crore.
    • 1041 Khelo India Centres established for athlete training and development.
    • 32 Khelo India State Centres of Excellence notified.
    • 301 sports academies accredited for quality training.
    • 2781 Khelo India Athletes (KIAs) provided coaching, equipment, medical care, and monthly Out of Pocket Allowance (OPA).
    • 5939 national records and 1424 international records set by KIAs.
    • 124 KIAs contributed to India’s 42 medals, including 9 Golds, at the 2022 Asian Games.
    • 28 KIAs included in India’s contingent for the Paris 2024 Olympics.

    KHELO INDIA AT A GLANCE

    KIRTI (Khelo India Rising Talent Identification) is a government initiative aimed at identifying and nurturing sports talent across India. Launched in March 2024 with Phase 1, it focuses on identifying athletes from grassroots levels and combating issues like drug addiction and excessive screen time among children aged 9 to 18. Phase 2 inaugurated by Dr. Mansukh Mandaviya, Union Minister for Youth Affairs & Sports, on 19 July 2024 in New Delhi. The programme uses modern ICT tools and global best practices to create an accessible, athlete-centric talent identification system.

    The programme’s goal is to achieve 20 lakh assessments in the FY 2024-25 by onboarding all states and treating districts as units of assessment. The aim is to create a pool of talent capable of winning medals at global competitions like the Olympics and Asian Games.

    Nehru Yuva Kendra Sangathan (NYKS)

    Nehru Yuva Kendra Sangathan launched in 1972 with the aim of empowering rural youth and involving them in nation-building while enhancing their skills and personality. In 1987, the Nehru Yuva Kendra Sangathan (NYKS) was formed as an autonomous body under the Ministry of Youth Affairs and Sports to oversee these Kendras. NYKS is one of the largest grassroots-level youth organization globally, focusing on voluntary participation, self-help, and community involvement. Through a network of youth clubs in villages, NYKS actively engages young people in developmental activities, promoting community empowerment and youth leadership.

    Key Objectives:

    The primary objective of NYKS is to mobilize, organize, and empower rural youth to contribute to nation-building and community development. Its focus areas include:

    • Education, health, and sanitation
    • Awareness on social issues
    • Women empowerment and civic education
    • Disaster relief and rehabilitation
    • Skill development and self-employment​.

    Financial Outlays:

    • The budgetary allocation for NYKS has varied across years. As per 2024-25 Budget estimates, the allocation for NYKS stood at ₹ 426 crore.
    • 2008-09: ₹ 50.68 (Plan) and ₹ 38 crore (Non-Plan)​.
    • Restructured in 2016 under Rashtriya Yuva Sashaktikaran Karyakram (RYSK) for better resource utilization​.

    Key Achievements:

    1. Youth Skilling & Employment Support

    • 28,275 youth trained in vocational skills.
    • Career counseling conducted for job opportunities.

    2. Sports & Cultural Promotion

    • 11,263 youth clubs received sports materials.
    • 437 District Yuva Utsav programs held, involving 1.31 lakh youth.

    3. Clean India & Environmental Initiatives

    • 1.55 crore kg of waste collected across 1.68 lakh villages under Clean India 2.0.
    • 596 Swachhata Abhiyan drives conducted with 4.12 lakh youth volunteers.
    • 1.55 crore people engaged in Catch the Rain water conservation efforts.

    4. Community Engagement & National Programs

    • 4.04 lakh volunteers mobilized for community development.
    • 1,942 volunteers trained in disaster risk reduction with NDRF.
    • Namami Gange programs conducted across five states for river conservation.

    5. Major Celebrations & National Events

    • 19.71 lakh youth participated in National Unity Day.
    • 9.38 crore citizens reached through Har Ghar Tiranga.
    • 3.5 lakh youth celebrated National Youth Day across 10,305 activities.

     

    These initiatives have significantly contributed to youth empowerment, skill development, sports promotion, environmental conservation, and nation-building.

     

    Conclusion:

     

    India’s strategic focus on youth empowerment and sports development continues to yield remarkable results, with substantial investments and initiatives shaping a brighter future for the nation’s youth. The increasing budget allocations, along with successful programs like Khelo India and Nehru Yuva Kendra Sangathan, underscore the government’s commitment to fostering talent, promoting sports culture, and ensuring that opportunities are available for all, regardless of gender or geographic location. With continued emphasis on grassroots-level development and elite athlete support, India is poised for sustained growth and success on both the national and international sporting stage.

     

    References:

    India’s Growing Focus on Youth and Sports

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    Santosh Kumar/ Sarla Meena/ Gouri S/ Anchal Patiyal

    (Release ID: 2098454) Visitor Counter : 31

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: India’s Startup Revolution

    Source: Government of India

    Posted On: 01 FEB 2025 2:44PM by PIB Delhi

    1.57 lakh startups and 17.28 lakh jobs mark a decade of progress

     

    India has firmly established itself as the third-largest startup ecosystem in the world, with over 1.57 lakh certificates issued by Department for Promotion of Industry and Internal Trade (DPIIT) for recognition of startups as of December 31, 2024. The nation’s entrepreneurial landscape, fuelled by more than 100 unicorns, is redefining innovation and creating new opportunities across sectors. Major hubs like Bengaluru, Hyderabad, Mumbai, and Delhi-NCR have been at the forefront of this transformation, while smaller cities are increasingly contributing to the momentum with over 51% of the startups emerging from Tier II/ III cities. Through initiatives like Startup India, the government has played a pivotal role in nurturing this growth and empowering the next generation of entrepreneurs.

    Startup India

    Launched on 16th January 2016, Startup India is a flagship initiative by the Government of India to foster innovation and create a thriving startup ecosystem. Its goal is to drive economic growth and generate large-scale employment opportunities. By supporting startups in their

    growth journey, the initiative encourages innovation and design. Through various schemes, it aims to empower startups to scale and succeed.

     

     

    Progress and Impact:

     

    1. Startup Growth: The number of DPIIT-recognised startups has risen from around 502 in 2016 to 1,57,706 as of December 31, 2024.

     

    1. Job Creation: Startups have created over 17.28 lakh direct jobs as of December 31, 2024, with the IT Services sector leading at 2.10 lakh jobs, followed by Healthcare & Lifesciences (1.51 lakh) and Professional & Commercial Services (96,474).

     

    1. Women-Led Startups: As of December 31, 2024, a total of 75,935 recognised startups include at least one-woman director (as per self-reported data of recognized startups), showcasing the rise of women entrepreneurs in India.

     

    1. Ease of Doing Business & Tax Benefits: Simplified compliance, self-certification, and tax exemptions for three years have streamlined operations for startups.

     

     

    Startup India Seed Fund Scheme (SISFS)

    Launched in 2021 with a corpus of ₹945 crore, the SISFS supports startups at various stages, including proof of concept, prototype development, product trials, market entry, and commercialisation. The scheme, operational since 1st April 2021, is overseen by the Experts Advisory Committee (EAC), which evaluates and selects incubators for fund allocation.

    Progress and Impact:

     

     

    1. 213 incubators have been approved under the scheme as of December 2024.

     

    1. A total of 2,622 startups have benefited from ₹467.75 crore in funding as of December 2024.

     

    Fund of Funds for Startups (FFS) Scheme

    Launched in June 2016 with a corpus of ₹10,000 crore, the Fund of Funds for Startups (FFS) aims to boost access to domestic capital for startups. Managed by SIDBI, it funds SEBI- registered Alternative Investment Funds (AIFs), which then invest in startups through equity and equity-linked instruments.

     

    Progress and Impact:

     

    1. By 2024, ₹6,886 crores have been committed by DPIIT to SIDBI and ₹11,687 crore was committed by SIDBI to AIFs under the FFS scheme as of December 2024.

     

    1. This commitment catalyzed investments of ₹21,276 crore in 1,173 startups.

     

    Credit Guarantee Scheme for Startups (CGSS)

    The Credit Guarantee Scheme for Startups (CGSS) provides credit guarantees for loans to DPIIT-recognised startups from Scheduled Commercial Banks, NBFCs, and Venture Debt Funds. Implemented by the National Credit Guarantee Trustee Company Limited (NCGTC), it aims to offer credit guarantees up to a specified limit, easing access to funding for startups.

     

    Progress and Impact:

     

    1. As of January 3, 2025, the scheme has guaranteed 260 loans worth ₹604.16 crore to 209 startups.

     

    1. Among these, ₹27.04 crore has been allocated to 17 women-led startups.

    Other Notable Schemes                                                                                  

     

    Atal Innovation Mission (AIM)

     

    Launched in 2016 by NITI Aayog, the Atal Innovation Mission (AIM) aims to promote innovation and entrepreneurship across India. It includes initiatives like Atal Tinkering Labs at the school level to foster creativity, Atal Incubation Centres to build a robust startup ecosystem, and Atal Community Innovation Centres to serve unserved and underserved regions. The Atal New India Challenges focus on product and service innovations with national impact. All initiatives are monitored through real-time MIS systems, with third-party reviews for continuous improvement.

     

    Progress and Impact:

     

    1. Till date, 10,000 Atal Tinkering Labs have been established in schools across India under AIM.

     

    1. As of December 18, 2024, a total of 3,556 startups have been incubated in 72 Atal Incubation Centres (AICs), creating 41,965 jobs.

     

    MeitY Startup Hub (MSH)

    India is home to one of the most vibrant startup ecosystems with close to 30,000+ tech startups, making it the 3rd largest startup ecosystem in the world. The MeitY Startup Hub (MSH) aims to foster a vibrant innovation and startup ecosystem by uniting technology innovation stakeholders and promoting economic growth through innovation and technological advancement. It serves as a central hub, ensuring synergies among incubation centres, Centres of Excellence on Emerging Technologies, and other platforms supported by the Ministry of Electronics and Information Technology. MSH facilitates the sharing of resources, best practices, and ideas across the entire innovation and startup ecosystem.

     

    Progress and Impact:

     

    1. 5,310+ startups, 495+ incubators, and 328+ labs are part of the MeitY Startup Hub (MSH) scheme.

     

    Over the last 10 years, India’s startup ecosystem has experienced tremendous growth, becoming the third-largest in the world. With initiatives like Startup India, SISFS, CGSS, FFS, and sector-specific schemes such as AIM and MSH, the government has played a pivotal role in fostering innovation, creating jobs, and supporting entrepreneurs. This dynamic collaboration among stakeholders has strengthened the ecosystem, driving economic growth and empowering the next generation of innovators. Looking ahead, India’s startup landscape is set to reach even greater milestones.

     

    References:

     

    1. https://pib.gov.in/PressReleasePage.aspx?PRID=2093125
    2. https://www.pib.gov.in/Pressreleaseshare.aspx?PRID=1886031
    3. https://msh.meity.gov.in/
    4. https://aim.gov.in/overview.php
    5. https://sansad.in/getFile/loksabhaquestions/annex/183/AU3820_406x3D.pdf?source=pqals
    6. https://www.startupindia.gov.in/

    Click here to download PDF

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     Santosh Kumar/ Sarla Meena/ Saurabh Kalia  

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Sowing Seeds of Nutrition Key Schemes Driving Food Security Across Nation

    Source: Government of India

    Posted On: 01 FEB 2025 2:42PM by PIB Delhi

    Introduction

    Food is a fundamental necessity and ensuring its accessibility while maintaining nutritional standards is crucial for overall well-being. To address this, the government has implemented several unique schemes that not only provide essential rations at fair prices but also focus on the nutrition of newborns and mothers. These initiatives are designed to promote holistic health and ensure that every citizen has access to both food and proper nutrition.

    Public Distribution System (PDS)

    The Public Distribution System (PDS) evolved as a system of management of scarcity through distribution of foodgrains at affordable prices. Over the years, PDS has become an important part of Government’s policy for management of food economy in the country.

    Key Achievements:

    1. 100% digitized ration cards/beneficiaries’ data under NFSA in all States/UTs. Details of almost 20.5 Crore ration Cards covering around 80.5 Crore beneficiaries are available on transparency portals of States/UTs.
    2. More than 99.8% Aadhaar seeding of ration cards (at least one member).
    3. About 99.6% (5.41 Lakh of total 5.43 Lakh) Fair Price Shops (FPSs) in the country are automated using electronic Point of Sale (ePoS) devices for transparent and ensured distribution of subsidized food grains to beneficiaries.
    4. Under distribution of food grains, more than 97% of the transactions have been recorded biometrically/Aadhaar authenticated by States/UTs.

    PM POSHAN (POshan SHAkti Nirman) Scheme

    Launch Date: Approved from 2021-22 to 2025-26

    Objective: The PM POSHAN (POSHAN Shakti Nirman) Scheme was earlier known as the National Programme for Mid-Day Meal in Schools. The initiative was first launched on 15th August 1995 under the name National Programme of Nutritional Support to Primary Education (NP-NSPE). Its goal has been to improve school enrollment, attendance and retention by offering nutritional support to primary school children. Over the years, the scheme expanded to cover upper primary classes in 2008-09 and was renamed as Mid-Day Meal Scheme, evolving in terms of coverage, food quantity and financial assistance.

    Key Achievements:

    1. National scheme of PM POSHAN in schools has been announced for the five-year period 2021-22 to 2025-26 with the financial outlay of ₹ 54061.73 crores from the Central Government and ₹ 31733.17 crore from State Governments & UT administrations.
    2. Central Government will also bear additional cost of about ₹ 45000 crore on food grains. Therefore, the total scheme budget will amount to ₹ 130794.90 crore.
    3. The budget released for the PM POSHAN Scheme rose from ₹6,539.52 crore in 2008-09 to ₹8,457.74 crore in 2023-24, marking an increase in funding for the scheme over the years.

    PM Formalization of Micro Food Processing Enterprises Scheme (PMFME)

    Launch Date: The scheme is operational for a period of five years from 2020-21 to 2025-26.

    Objective: With an outlay of Rs. 10,000 crore, the Ministry of Food Processing Industries has introduced the PMFME Scheme to offer financial, technical, and business support for upgrading existing micro food processing enterprises and establishing new units.

    Key Achievements:

    1. Project Cost Growth: The project cost under the PMFME Scheme increased from ₹390.99 crore in 2021-22 to ₹5,198.3 crore in 2023-24.
    2. Increase in Food Processing Units: The number of food processing units grew significantly from 2,885 in 2021-22 to 54,730 in 2023-24.
    3. Employment Generation: Employment generated through the scheme rose from 14,201 jobs in 2021-22 to 1,88,802 jobs in 2023-24.

    Production Linked Incentive Scheme for Food Processing Industry (PLISFPI)

    Launch Date: Approved by the Union Cabinet on 31st March 2021 to be implemented from 2021-22 to 2026-27.

    Objective: With a budget of ₹10,900 crore under the scheme the Government provides financial incentives to promote Indian food brands abroad, supporting branding and marketing activities for Indian-branded consumer food products in global markets.

    Key Achievements:

     

    1. According to data reported by the scheme’s beneficiaries, an investment of ₹ 8,910 crore has been made across 213 locations. As of 31 October 2024, the scheme has reportedly generated employment of over 2.89 lakh.
    2. The project cost for the National PLISFPI Scheme was ₹663 crore in 2020-21, and it increased significantly to ₹8,910 crore in 2023-24, reflecting substantial growth and investment in the initiative.Nutr

    ition

    1. Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY)
    2. Launch Date: March, 2020
    3. Objective: Objective: In the wake of economic disruptions caused by the unprecedented outbreak of COVID-19 in the country, the Government had announced the distribution of additional free-of-cost foodgrains (Rice/Wheat) to about 81.35 Crore National Food Security Act (NFSA) beneficiaries at the scale of 5 Kg per person per month under the PM Garib Kalyan Anna Yojana (PMGKAY), over and above the regular monthly NFSA foodgrains. The total duration of the scheme was 28 months
    4. To remove the financial burden of the poor beneficiaries and to ensure nationwide uniformity and effective implementation of the National Food Security Act (NFSA), 2013, the Government had decided to provide food grains free of cost to NFSA beneficiaries i.e. AAY households and PHH beneficiaries, for a period of one year beginning from 01.01.2023 to 31.12.2023 under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY).
    5. More than 75 crore beneficiaries have received foodgrains every month during implementation of PMGKAY in FY 2020-21, 2021-22 and FY 2022-23.
    6. Keeping in view welfare of the beneficiaries of PMGKAY in terms of accessibility, affordability and availability of food grains for the poor and to maintain uniformity across the States, the Government has decided to continue to provide free food grains to about 81.35 Crore beneficiaries under the PMGKAY for a period of five years with effect from 1st January 2024. iAbhiyaan)

    POSHAN Abhiyaan

    Launch Date: March, 2018

    Objective: To achieve improvement in nutritional status of Children from 0-6 years, Adolescent Girls, Pregnant Women and Lactating Mothers in a time bound manner and to achieve reduction in stunting and wasting in children (0-6 years) as well as reduction in anemia in women, children and adolescent girls.

    Key Achievements:

    1. Fund allocation under POSHAN Abhiyaan is ₹ 950.00 crore, ₹ 3061.30 crore and ₹ 3400.00 crore in year 2017-18, 2018-19 and 2019-20 respectively.
    2. As of 31st December 2023, Poshan Abhiyaan had 10,05,05,429 beneficiaries, and by 31st December 2024, this number had increased to 10,12,82,551, reflecting a steady rise in the scheme’s outreach.

    By 2023, the Ministry has approved 41 Mega Food Park (MFP) projects, with 24 already operational and 17 more under development. Furthermore, India’s innovative branding of millets as Shree Anna marks a significant milestone in the evolution of food and nutrition. With these initiatives, the government aims to revolutionize the food industry, ensuring a sustainable and nutritious future for all.

    Click here to see in PDF:

    ***

    Santosh Kumar/ Sarla Meena/ Kamna Lakaria

    (Release ID: 2098449) Visitor Counter : 41

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Building a Stronger Workforce Building Stronger Employment Foundations

    Source: Government of India

    Posted On: 01 FEB 2025 2:32PM by PIB Delhi

    Introduction

    India has seen significant employment growth, with a 36% increase and around 170 million jobs added between 2016-17 and 2023-24. This reflects the country’s strong economic trajectory and job creation across various sectors. Schemes like e-Shram, Aatmanirbhar Bharat Rojgar Yojana and the National Career Service have been key drivers, supporting rural employment and providing training and career opportunities. These initiatives are essential for strengthening India’s workforce and ensuring sustainable job creation.

    e-Shram

    Launch: 21st October, 2024

    Objective: The eShram portal, was launched on 26 August 2021 to register and support unorganised workers by providing them with a Universal Account Number (UAN) and for the creation of a comprehensive National Database of Unorganised Workers (NDUW).

    eShram– “One-Stop-Solution” was launched on 21st October 2024, which entails the integration of different social security/ welfare schemes on a single portal, i.e., eShram. This enables unorganised workers registered on eShram to access social security schemes and see benefits availed by them so far through eShram.

    1. Key Achievements:
    2. As of 27 January 2025, over 30.58 crore unorganised workers have already registered on the eShram portal
    3. So far, 12 schemes of different central ministries/departments have been integrated/mapped with eShram.

    Aatmanirbhar Bharat Rojgar Yojana (ABRY)

     Launch: 1st October, 2020


    Objective: To incentivize employers for creation of new employment and restoration of loss of employment during Covid-19 pandemic.

    Key Achievements:

    1. As of March 31, 2024, a total of Rs. 10,188.50 crore has been disbursed to 60.49 Lakh beneficiaries through 1.52 Lakh establishments.

    National Career Service (NCS)

    Launch Date: 20th July, 2015.

    Objective: NCS has become a ‘one stop platform’ for career related services including jobs from private and government sectors, information on online & offline job fairs, skill/training programmes etc. It works towards bridging the gap between jobseekers and employers, candidates seeking training and career guidance, agencies providing training and career counselling.

     

    Key Achievements:

    1. From January 1 to December 15, 2024, 1.89 Crores vacancies were available on the NCS portal, bringing the total to 3.89 crore vacancies since inception.
    2. A total of 8,263 job fairs were organized on the NCS portal, with 43,874 employers participating, leading to the provisional selection of 2.6 Lakh candidates.
    3. The portal saw 17.23 Lakh new employers and 1.38 Crores new job seekers registering during the year.

    Pradhan Mantri Street Vendors Atmanirbhar Nidhi (PM-SVANidhi)

    Launch: 1st June, 2020

    Objective: To facilitate collateral free working capital loan to street vendors to restart their businesses, which were adversely impacted by the COVID-19 pandemic.

    Key Achievements:

    1. No. of Beneficiaries 6,801,644
    2. Sanctioned amount 14,332.1 Cr
    3. Disbursed amount 13,736.14 Cr from 2020 till 28.01.2025

    National Apprenticeship Promotion Scheme (NAPS)

    Launch Date: August, 2016

    Objective: Aims to promote apprenticeship training in the country by providing stipend support to the apprentices, undertake capacity building of the apprenticeship ecosystem and provide advocacy assistance to support rapid growth.

    Key Achievements:

    1. Training Status: As of August 31, 2024, 367,170 apprentices are engaged for the 2024-25 financial year, with a total of 780,000 apprentices undergoing training across 47,708 establishments.
    2. DBT Progress: Since its launch on August 11, 2023, the number of apprentices under DBT has risen from 172,542 in July 2023 to 295,011 in July 2024. The Government of India has also disbursed ₹468.27 crore in stipends through DBT.

    Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS)

    Launch: 2005

    Objective: It is a demand driven wage employment Scheme which provides for the enhancement of livelihood security of the households in rural areas of the country by providing at least one hundred days of guaranteed wage employment in every financial year to every household whose adult members volunteer to do unskilled manual work.

    Key Achievements:

    1. In FY 2013-14, the minimum average notified wage rate for Mahatma Gandhi NREGA was ₹155, while in FY 2024-25, the minimum average notified wage rate is ₹279.
    2. In FY 2024-25, attendance for 20.35 lakh worksites (95.66%) has been captured and uploaded on the portal.
    3. The total person days generated between FY 2006-07 to FY 2013-14 were 1660 crore, whereas, the total person days between FY 2014-15 to FY 2024-25 has been 2923 crore.

     

    In addition to these efforts the government has implemented various initiatives for employment welfare, including the Employees Provident Fund Organisation (EPFO), the Employment Linked Incentive (ELI) Scheme and support for Gig and Platform Workers all aimed at further enhancing job security and opportunities for the workforce.

    Click here to see in PDF:

    ***

    Santosh Kumar/ Binoykumar C V/ Kamna Lakaria

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Energy Security in India

    Source: Government of India

    Posted On: 01 FEB 2025 2:30PM by PIB Delhi

    Advancing Renewable Energy and Sustainability through Key Government Initiatives

     

     

    India’s energy security is a cornerstone of its economic and environmental strategy, with a strong push toward renewable energy and self-reliance. As of January 2025, the country’s non-fossil fuel energy capacity has reached 217.62 GW. The CCDC Wind Initiative has significantly enhanced wind energy development, leading to 48.16 GW of installed capacity. The National Green Hydrogen Mission, launched in 2023, is positioning India as a global leader in hydrogen energy with investments exceeding ₹8 lakh crore. The National Solar Mission has propelled solar energy growth, with installed capacity rising from 9.01 GW in 2016 to 97.86 GW in 2025. Additionally, PM-KUSUM and PM Surya Ghar Muft Bijli Yojana are accelerating solar adoption among farmers and households. These efforts, supported by substantial government funding and policy measures, highlight India’s commitment to achieving energy security while reducing carbon emissions. By leveraging technological advancements and strategic investments, India is on a path toward a cleaner, more resilient energy future.

     

    Introduction

     

    India’s energy security is a critical component of its economic growth and sustainability goals. The government has launched various schemes aimed at promoting renewable energy, enhancing grid stability, and reducing carbon emissions. Key initiatives such as the National Bio Energy Mission, National Green Hydrogen Mission, PM-KUSUM, and PM Surya Ghar Muft Bijli Yojana, reflect the nation’s commitment to a cleaner and self-reliant energy future. As of January 2025, India’s total non-fossil fuel-based energy capacity has reached 217.62 GW.

     

    INSTALLED RENEWABLE ENERGY CAPACITY (MW)

     

    Sector

    Cumulative Achievements (till 31.03.2014)

    2014-15

    2023-24

    2024-25 (01.04.2024 – 31.12.2024)

    Cumulative Achievements (till 31.12.2024)

    Wind Power

    21,042.58

    2,311.77

    3,253.38

    2,276.65

    48,163.16

    Solar Power

    2,821.91

    1,171.62

    15,033.24

    16,051.10

    97,864.72

    Small Hydro Power

    3,803.68

    251.68

    58.95

    97.30

    5,100.55

    Biomass (Bagasse) Cogeneration

    7,419.23

    295.67

    0.00

    372.86

    9,806.42

    Biomass (Non-bagasse) Cogeneration

    531.82

    60.05

    107.34

    0.00

    921.79

    Waste to Power

    90.58

    0.00

    1.60

    0.00

    249.74

    Waste to Energy (Off-grid)

    139.79

    9.71

    30.17

    34.13

    370.20

    Total

    35,849.59

    4,100.50

    18,484.68

    18,832.04

    162,476.58

     

    CCDC Wind Initiative

    About the Scheme:

    Launched in June 2020, the Centralized Data Collection and Coordination (CCDC) Wind Initiative aims to advance India’s wind energy development by improving wind resource assessment through accurate data collection and research. The initiative provides valuable insights for project developers, helping them identify the most promising locations for wind energy projects. It supports the efficient implementation of large-scale wind energy projects and encourages investments in the wind sector. The Government, through National Institute of Wind Energy (NIWE), has installed over 800 wind-monitoring stations all over country and issued wind potential maps at 50m, 80m and 100m above ground level. As on 30 January 2024, India’s cumulative wind power capacity stands at 48.16 GW.

    Objective:

    • Facilitate wind energy development through centralized data collection and research.
    • Provide accurate wind resource assessment for better site identification.
    • Promote private sector investments and public-private partnerships in wind energy projects.

     

     

    Key Achievements:

     

    • Enhanced wind resource mapping has contributed to the successful identification of over 50 potential wind energy sites nationwide.
    • Contributed to the development of over 10 GW of new wind energy capacity from 2020-2024, increasing India’s wind energy capacity by 30%.
    • Significant growth in wind energy capacity, from 1.86 GW in March 2004 and 21.04 GW in December 2014 to 48.16 GW in January 2025, reflecting the initiative’s impact.
    • In 2024, the Union Cabinet approved a Rs. 7,453 crore Viability Gap Funding (VGF) scheme to set up India’s first offshore wind energy projects. The scheme includes Rs. 6,853 crores for 1 GW of offshore wind capacity (500 MW each off the coasts of Gujarat and Tamil Nadu) and Rs. 600 crores for port upgrades to support logistics for these projects.

    National Green Hydrogen Mission

    About the Scheme:

    Launched in January 2023, the National Green Hydrogen Mission is an ambitious initiative aimed at transitioning India towards a hydrogen-based economy. The scheme focuses on the development of indigenous technology for green hydrogen production, infrastructure for storage, transportation, and utilization. By promoting hydrogen as a clean energy source, the mission aims to position India as a global leader in green hydrogen production and export, thereby driving sustainability and reducing dependence on fossil fuels. With over Rs. 8 lakh crores in total investments, green hydrogen capacity is expected to reach 5 million metric tons by 2030. This is expected to create 6 lakh jobs by 2030.

    Objective:

    • Making India a leading producer and supplier of Green Hydrogen in the world.
    • Creation of export opportunities for Green Hydrogen and its derivatives.
    • Reduction in dependence on imported fossil fuels and feedstock.
    • Development of indigenous manufacturing capabilities.
    • Attracting investment and business opportunities for the industry.
    • Creating opportunities for employment and economic development.
    • Supporting R&D projects.

     

     

    Key Achievements:

    • ₹19,744 crore allocated for the mission’s implementation, with a focus on infrastructure development and technology innovation. The Mission has an outlay of ₹600 crore for FY 2024-25.
    • Establishment of 3 hydrogen production hubs in key locations across the country.
    • Tenders awarded to companies for 4.12 lakh tonnes per annum green hydrogen production.
    • Development of key policies and financial incentives, with 50% subsidy on electrolyser manufacturing and hydrogen production. Selection of manufacturers for 1,500 MW electrolyser capacity was also conducted in 2024.
    • The International Conference on Green Hydrogen (ICGH – 2023) took place in New Delhi from 5th to 7th July, 2023, featuring global participation from industry, academia, and government.
    • From 18th to 22nd March, 2024, India hosted the 41st International Partnership for Hydrogen and Fuel Cells in the Economy (IPHE) Meeting in New Delhi, fostering collaboration on clean hydrogen technologies.
    • From September 11-13, 2024, the 2nd International Conference on Green Hydrogen (ICGH) in New Delhi emphasized advancements in green hydrogen technology and India’s leadership in the sector.
    • The year 2024 also witnessed India’s innovative renewable energy solutions being showcased on international platforms such as the World Hydrogen Summit 2024 in Rotterdam, Netherlands.

     

    National Solar Mission (NSM)

     

    About the Scheme:

    Launched in January 2010, NSM is a major initiative to promote ecological sustainable growth while addressing India’s energy security challenges. It is also a major contribution by India to the global effort to meet the challenges of climate change. In order to achieve the above target, Government of India have launched various schemes to encourage generation of solar power in the country like Solar Park Scheme, VGF Schemes, CPSU Scheme, Defence Scheme, Canal bank & Canal top Scheme, Bundling Scheme, Grid Connected Solar Rooftop Scheme etc.

     

    Objectives:

    • Establish India as a global leader in solar energy by creating the policy conditions for solar technology diffusion across the country as quickly as possible.
    • Achieve the Nationally Determined Contributions (NDCs) target to achieve about 50 percent cumulative electric power installed capacity from non-fossil fuel-based energy resources and to reduce the emission intensity of its GDP by 45 percent from 2005 level by 2030.

     

    Off-Grid Solar PV Programme:

    Off-grid Solar PV Applications Programme is one of the oldest programmes of the Ministry aimed at providing solar PV-based applications in areas where grid power is either not available or is unreliable. Applications such as solar home lighting systems, solar street lighting systems, solar power plants, solar pumps, solar lanterns and solar study lamps are covered under the programme.

     

    Solar Grid Connected Programme:

    Government of India have launched various schemes to encourage generation of solar power in the country like Solar Park Scheme, VGF Schemes, CPSU Scheme, Defence Scheme, Canal bank & Canal top Scheme, Bundling Scheme, Grid Connected Solar Rooftop Scheme etc. Various policy measures are also undertaken to promote the grid connected solar power plants. By 2023, India achieved 5th rank in the world in solar power deployment.

     

    Key Achievements:

     

    Parameter

    2016

    (By March 2016)

    2024

    (By March 2024)

    Total Installed Solar Capacity

    9.01 GW

    *96.86 GW

    Number of Solar Parks

    34

    58

    Total Capacity of Solar Parks

    20 GW

    40 GW

    Rooftop Solar Capacity

    90.8 MV

    11,503 MV

    Number of Solar Home Lights

    13.96 lakh

    17.23 lakh

    Number of Solar Street Lights

    4.42 lakh

    9.44 lakh

    Installed Capacity of Power Plants

    172.45 GW

    216.86 GW

     

    • In March 2016, the total installed solar capacity was 9.01 GW and by March 2024, the total installed solar capacity stood at 81.81 GW. *As of 28 January 2025, the total installed solar capacity is 97.86 GW.
    • As of March 2024, the total estimated solar potential of the country stood at 748.98 GW.
    • As of March 2024, there are a total of 58 solar parks in India with a sanctioned capacity of 40 GW, in contrast to March 2016, when there were only 34 solar parks with 20 GW sanctioned capacity.
    • In March 2016, there was only 90.8 MV installed solar capacity under the Rooftop PV and Small Solar Power Generation Programme (RPSSGP). In March 2024, the total installed capacity has reached 11,503 MV.
    • In 2024, for off-grid projects, India has 17.23 lakh solar home lights, 84.59 solar lamps, 9.44 lakh solar street lights and an installed capacity of 216.86 GW from solar power plants. This has increased from 2016, when 13.96 lakh solar home lights, 4.42 lakh solar street lights and 172.45 GW of installed solar capacity from power plants.

    PM-KUSUM Scheme: (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan)

    About the Scheme:

    Launched in March 2019, the PM-KUSUM Scheme supports farmers by offering financial assistance for installing solar-powered irrigation systems, including solar pumps and grid-connected solar power plants. By shifting to solar energy, the scheme also helps to reduce carbon emissions and improve energy access in rural agricultural areas. Under the Scheme, central government subsidy upto 30% or 50% of the total cost is given for the installation of standalone solar pumps and for the solarization of existing grid-connected agricultural pumps.

     

    Objective:

    • Promote solar energy adoption among farmers by subsidizing solar-powered irrigation.
    • Reduce dependency on diesel pumps, leading to lower fuel costs and improve energy access in rural agricultural areas.
    • Enhance income generation through surplus solar energy sales.

     

     

    Key Achievements:

     

    • Over 6.1 lakh solar pumps installed nationwide by December 2024, as compared to 3.3 lakh solar pumps installed by December 2021.
    • 35 lakh grid-connected agriculture pumps solarized.
    • As of June 2024, more than 4 lakh farmers nationwide have benefited from the PM-KUSUM scheme.

     

     

    • Under Components B and C of PM-KUSUM: 30% CFA provided (or 50% for North Eastern/Hilly regions/Islands) for installing standalone agriculture pumps and solarizing grid-connected pumps.
    • About 11.34 GW of solar energy capacity has been installed during January to November 2024.

     

    PM Surya Ghar Muft Bijli Yojana

    About the Scheme:

    Launched in February 2024, the PM Surya Ghar Muft Bijli Yojana, the world’s largest domestic rooftop solar initiative, is designed to promote rooftop solar energy adoption in residential areas. By providing financial incentives and subsidies for solar panel installation, the scheme enables households to generate their electricity, reducing their dependence on the national grid and lowering electricity bills. The initiative has a bold vision to supply solar power to one crore households by March 2027.

    Objective:

    • Encourage rooftop solar adoption in residential sectors.
    • Provide financial incentives and subsidies for solar panel installation.
    • Enable households to generate their own electricity, reducing dependency on the grid.
    • Reduce electricity bills by allowing households to generate and sell surplus solar energy to the grid.

     

    Key Achievements:

     

    • Increased participation in the distributed solar energy ecosystem, with over 1 lakh homes installing rooftop panels in the first year.

     

     

    • Households benefiting from 20-30% reduction in electricity bills due to self-generated solar power.
    • Within just 10 months of PMSGMBY, 7 lakh installations have been achieved—an average of 70,000 per month. This marks a ten-fold increase in monthly installations compared to the average of 7,000 per month prior to the launch of the scheme in February 2024.
    • States such as Gujarat, Maharashtra, Kerala, and Uttar Pradesh have demonstrated exceptional progress, reflecting robust infrastructure and stakeholder collaboration.
    • Issuance of Operational Guidelines for the ‘Model Solar Village’ scheme, with a total outlay of ₹800 crore, granting ₹1 crore grant for the winning village in each district. It aims to promote solar energy adoption and make villages self-reliant in energy. Villages with populations over 5,000 (or 2,000 in special states) can compete based on their renewable energy capacity.

     

    References

    MNRE Annual Reports (2016-2024)

    https://npp.gov.in/dashBoard/cp-map-dashboard

    https://mnre.gov.in/en/year-wise-achievement/#

    https://www.india.gov.in/spotlight/national-green-hydrogen-mission

    https://mnre.gov.in/en/national-green-hydrogen-mission/

    https://pib.gov.in/PressNoteDetails.aspx?NoteId=151902

    https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2089056

    https://ccdcwind.gov.in/potential_of_wind_energy_in_india.html

    https://cdnbbsr.s3waas.gov.in/s3716e1b8c6cd17b771da77391355749f3/uploads/2024/05/20240524405410771.pdf

    https://cdnbbsr.s3waas.gov.in/s3716e1b8c6cd17b771da77391355749f3/uploads/2023/08/2023080324.pdf

    https://cdnbbsr.s3waas.gov.in/s3716e1b8c6cd17b771da77391355749f3/uploads/2024/10/20241029512325464.pdf

    https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2094992

    https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1943905

    https://mnre.gov.in/en/bio-gas/

    https://pmkusum.mnre.gov.in/

    https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2081250

    https://www.pmsuryaghar.gov.in/

    https://cag.gov.in/uploads/download_audit_report/2015/Union_Civil_Performance_Renewable_Energy_Report_34_2015_chap_8.pdf

    https://powermin.gov.in/sites/default/files/uploads/ar03_04.pdf

    Click here to download PDF

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  • MIL-OSI Asia-Pac: Driving Financial Empowerment

    Source: Government of India

    Posted On: 01 FEB 2025 2:22PM by PIB Delhi

    Transformative schemes boost financial inclusion, insurance, and entrepreneurship

     

    Synopsis

    Key government initiatives have significantly advanced financial inclusion and entrepreneurship, benefiting millions across India. The Pradhan Mantri Jan Dhan Yojana (PMJDY) has opened over 54.58 crore accounts, with deposits rising to ₹2.46 lakh crore by January 2025. The Atal Pension Yojana (APY) has seen a surge in enrolments, reaching 7.33 crore by January 2025, with more than 89.95 lakh new enrolments in FY 2024-25. The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) has enrolled 22.52 crore individuals, with ₹17,600 crore disbursed for 8.8 lakh claims. The Pradhan Mantri Suraksha Bima Yojana (PMSBY) has covered 49.12 crore people, processing ₹2,994.75 crore against accident claims. The Stand-Up India Scheme has sanctioned ₹53,609 crore in loans for 2.36 lakh entrepreneurs, with a focus on SC/ST and women. Finally, the Pradhan Mantri Mudra Yojana (PMMY) has sanctioned ₹32.36 lakh crore for 51.41 crore loans, with 68% of the loans benefiting women and 50% going to SC/ST/OBC categories. These initiatives are instrumental in promoting financial empowerment and inclusive growth.

     

    Introduction

    Financial inclusion remains a key government priority, striving to provide banking, credit, and insurance services to the unbanked and underserved. Through initiatives like the Pradhan Mantri Jan Dhan Yojana, Atal Pension Yojana, and others, the government is working to empower individuals, secure financial futures, and promote entrepreneurship. The motto, “From Jan Dhan to Jan Suraksha,” encapsulates the vision of financial security and inclusive growth for all.

    Pradhan Mantri Jan Dhan Yojana (PMJDY)

    Launched in August 2014, the Pradhan Mantri Jan Dhan Yojana (PMJDY) aimed to bring the unbanked into the formal financial system by expanding access to savings accounts, credit, remittance, insurance, and pensions. Over the decade, it has empowered weaker sections and low-income groups, playing a key role in financial inclusion and economic integration. According to the World Bank’s Global Findex Database 2021, bank account ownership in India more than doubled in the past decade, rising from 35 percent in 2011 to 78 percent in 2021.

    Key Achievements:

    1. Accounts Opened: Grew from 14.72 crore in March 2015 to 54.58 crore by January 15, 2025.
    2. Deposits: Increased from ₹15,670 crore in March 2015 to ₹2,46,595 crore by January 2025.
    3. RuPay Cards: 37.29 crore cards issued to PMJDY accountholders as of January 15, 2025, enhancing digital transactions.

     

    Atal Pension Yojana (APY)

    Launched on May 9, 2015, Atal Pension Yojana (APY) provides social security to unorganised sector workers. It ensures financial stability for the poor and underprivileged. The scheme was operationalised on June 1, 2015. APY is regulated by the Pension Fund Regulatory and Development Authority (PFRDA). It functions under the National Pension System (NPS) framework.

    Key Achievements:

    1. Growth of APY: The Atal Pension Yojana surged from 1.54 crore enrolments in March 2019 to 7.33 crore by January 2025. Its predecessor, the Swavalamban scheme, had 3.01 Lakh enrolments as of 2010-11.

     

    1. FY 2024-25 Progress: Over 89.95 lakh enrolments in the current Financial Year 2024-25.

     

    Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

    Launched on May 9, 2015, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme. Proposed in the 2015 budget, it aimed to expand insurance coverage beyond the then 20% of the population. The scheme provides one-year renewable life insurance covering death from any cause.

    Key Achievements:

    1. Enrolments: Grew from 3.1 crore in FY 2016-17 to 22.52 crore as of January 15, 2025.
    2. Claims Disbursed: ₹17,600 crore disbursed against 8,80,037 claims from a total of 9,13,165 claims received.

     

    Pradhan Mantri Suraksha Bima Yojana (PMSBY)

    Launched on May 9, 2015, Pradhan Mantri Suraksha Bima Yojana (PMSBY) is an accident insurance scheme covering death and disability. It is a one-year renewable policy aimed at increasing insurance penetration. The scheme provides coverage to individuals aged 18-70 with a savings or post office account, benefiting the poor and underprivileged.

     

    Key Achievements:

    1. Enrolments: 49.12 crore cumulative enrolments as of January 15, 2025.
    2. Claims Processed: ₹2,994.75 crore disbursed against 1,50,805 claims from a total of 1,98,446 claims received.

     

     

    Stand-Up India Scheme

    Launched on April 5, 2016, the Stand-Up India Scheme promotes entrepreneurship among women, SCs, and STs. It provides bank loans from ₹10 lakh to ₹1 crore for greenfield enterprises in manufacturing, services, trading, and allied agriculture. The scheme aims to empower aspiring entrepreneurs by easing financial barriers.

    Key Achievements:

    1. Progress: Loan amount sanctioned increased from ₹3,683 crore in March 2018 to ₹53,609 crore by July 2024.
    2. Beneficiaries: 2.36 lakh loans granted to SC/ST and women entrepreneurs as of July 2024.

     

    Pradhan Mantri Mudra Yojana (PMMY)

    Launched on April 8, 2015, Pradhan Mantri MUDRA Yojana (PMMY) supports small and micro enterprises with loans up to ₹10 lakh. In Union Budget 2024-25, the loan limit was increased to ₹20 lakh. MUDRA facilitates financial inclusion by refinancing micro units and empowering aspiring entrepreneurs.

    Key Achievements:

    1. Loans Sanctioned: ₹32.36 lakh crore sanctioned for 51.41 crore loans (as of Jan 2025)
    2. Borrower Distribution: 68% loans to women and 50% to SC/ST/OBC categories

     

    Category-Wise Breakup

    Category

    No. of Loans

    Amount Sanctioned

    Shishu

    79%

    36%

    Kishor

    19%

    40%

    Tarun

    2%

    24%

    Tarun Plus

    –

    –

    Total

    100%

    100%

     

    Data Source: Ministry of Finance

    Click here to download PDF

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    MIL OSI Asia Pacific News –

  • MIL-Evening Report: NZ’s gene technology reform carries benefits and risks – a truly independent regulator will be vital

    Source: The Conversation (Au and NZ) – By Sylvia Nissen, Senior Lecturer in Environmental Policy, Lincoln University, New Zealand

    Getty Images

    Genetic modification is back on the political agenda in New Zealand. The issue may not be as hotly contentious as it once was, but big questions remain about the way forward.

    Last year, the National-led coalition government signalled its intent to reform genetic modification laws to provide more “enabling” and “modern” regulation. The subsequent gene technology bill was introduced in December and is currently before select committee.

    The bill comes on the back of growing calls for New Zealand’s regulatory frameworks to become less restrictive.

    One of the arguments often made is that the current system, in place since the 1990s, is holding back gene technology research by restricting it largely to laboratory-based experiments. By this account, New Zealand is falling behind in knowledge and expertise, while missing out on the benefits of these technologies.

    Those benefits are said to span a wide range of areas, including agriculture, health, conservation and climate change.

    There are some applications of genetic modification that have potential long-term public benefit and few or no alternatives. These includes the control of invasive wasps or the production of insulin. But plenty of challenges remain for many emerging forms of gene technology, not least the technical complexities.

    There are also difficult questions that must be asked. Who benefits and who carries the risks of harm? What might be other hard-to-anticipate implications, spanning health, social, cultural, ethical, environmental, economic and trade concerns?

    In conservation, for instance, questions need to be asked about how interventions might spread or interact with ecosystems that are already under strain or beyond our shores.

    Genetic modification is a controversial political topic for good reason. As with many other technologies, the devil is in the detail. We should not fall for overly simple narratives that it is all about benefits, with little to no risk. Context matters, as does robust and responsible governance.

    The production of insulin is among the gene technology applications with potential long-term public health benefits.
    Getty Images

    A not-so-independent regulator

    It is important to take a close look at how decisions about genetic modification might be made under the proposed bill.

    The suggested model is loosely based on Australia’s approach of a single gene technology regulator, which has been in place for two decades and is widely considered to be successful.

    But there are crucial – and troubling – differences between the Australian model and what is proposed for New Zealand.

    In Australia, the regulator is fully independent. The law is clear: the regulator “is not subject to direction from anyone” in making decisions about genetic modification.

    The regulator has a charter which frames decisions, an office and biosafety committees that support their work, and they report to parliament as a whole (not just the government of the day).

    In contrast, the proposed New Zealand bill claims the regulator is independent, but also says they are “subject to general policy directions given by the minister”.

    It is worth looking deeper into what this means. The bill’s coversheet explains:

    Government needs a mechanism to intervene if the regulator acts contrary to its policy objectives.

    These objectives would be provided through general policy directions and would “ensure the regulator acts consistently with reform objectives”, including by changing risk tolerance.

    Although a minister cannot intervene in decisions about specific applications, they would have the ability to change the parameters of the regulator’s decisions, with no apparent requirements for wider consultation.

    This is not true independence by any stretch of the imagination – and a long way from the Australian approach.

    A note of caution

    If a minister is able to change the parameters of a regulator’s decisions at will, it is important to consider what doors might be opened that we may wish, in retrospect, remained shut.

    For example, the recently released first report of the Science System Advisory Group calls for “attracting multinational corporations to undertake research and development in New Zealand”. The report alludes to genetic modification research as a key area to expand.

    Put this together with the decision-making model proposed under the bill. It is not a stretch to see how a regulator, who was subject to the general policy direction of a minister, could be provided with a scope that facilitated multinational genetic modification research in New Zealand.

    There is ample reason to be cautious of opening New Zealand to this. Numerous international scholars have highlighted that genetic modification research is “firmly dominated” by elite US-based or European science teams.

    It is also increasingly funded by private philanthropists, corporations and the military, who often implement their experiments in distant countries or islands with relatively minimal regulation.

    This practice has been given a specific term: “ethics dumping”.

    Science might progress, but local communities are left with the unpredictable and unintended consequences of these experiments, usually without meaningful prior consultation.

    It is therefore important that any changes to New Zealand’s genetic modification regulation ensure truly independent decision-making. There can be benefits of these technologies, but a system that can be changed at short notice to suit the government of the day could set the scene for more harm than good.

    The devil really is in the detail. To have responsible governance, a few changes in the new law will make a significant difference.

    Sylvia Nissen receives funding as a researcher on the MBIE Endeavour-funded project ‘Whatu raranga o ngā koiora: Weaving cultural authority into gene-drives targeting wasps’.

    – ref. NZ’s gene technology reform carries benefits and risks – a truly independent regulator will be vital – https://theconversation.com/nzs-gene-technology-reform-carries-benefits-and-risks-a-truly-independent-regulator-will-be-vital-248535

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: “The reforms in the mining sector, especially with respect to critical minerals will mark a major step toward realizing the vision of Viksit Bharat 2047, building an Atmanirbhar, future-ready Bharat”: G Kishan Reddy, Union Minister of Coal and Mines

    Source: Government of India

    “The reforms in the mining sector, especially with respect to critical minerals will mark a major step toward realizing the vision of Viksit Bharat 2047, building an Atmanirbhar, future-ready Bharat”: G Kishan Reddy, Union Minister of Coal and Mines

    Today’s Budgetary announcements continue our government’s steadfast commitment towards the growth and modernization of the mining sector

    In line with the spirit of competitive federalism, the introduction of the State Mining Index is a transformative step that will enhance professionalization of State mining departments

    The announcement of a Tailings Policy further bolsters the objectives of the National Critical Mineral Mission

    The elimination of import duties on non-ferrous metal scraps and critical mineral scraps, including cobalt powder and lithium-ion battery (LIB) scraps, is a game-changer

    The allocation of 300 crores for Coal and lignite gasification will provide pathways to lower emissions, carbon capture and Hydrogen production

    From being a corruption laden and litigation ridden sector prior to 2014, today India’s mining sector is aspiring to be a global player in sustainable mining and critical mineral value chain

    Posted On: 01 FEB 2025 5:45PM by PIB Delhi

    “I extend my heartfelt gratitude to the Hon’ble Finance Minister for the progressive and visionary announcements in the Union Budget 2025-26. Hon’ble Finance Minister Smt Nirmala Sitaraman emphasised that this Budget aims to initiate transformative reforms across six domains in which mining plays a significant role. This also signals India’s major push towards energy transition and sustainable development, strengthening our global competitiveness over the next five years. The reforms in the mining sector, especially with respect to critical minerals will mark a major step toward realizing the vision of Viksit Bharat 2047, building an Atmanirbhar, future-ready Bharat.

    The series of reforms in the coal and mining sector will drive production and innovation at home and at the same time position India as a key player in the global minerals market. The reforms also come at an opportune time of the launch of National Critical Mineral Mission, giving it a massive thrust and will accelerate its implementation.

    As India continues to majorly rely on coal for meeting the energy demands of a growing and aspirational nation, the focus is to strike a balance between energy security and energy transition goals. The allocation of 300 crores for Coal and lignite gasification will provide pathways to lower emissions, carbon capture and Hydrogen production. This will give a huge impetus to India’s energy transition goals and boost our capabilities to produce clean coal while ensuring energy security for the country.

    In line with the spirit of competitive federalism, the introduction of the State Mining Index is a transformative step that will enhance professionalization of State mining departments, encouraging them to innovate and adopt best practices in mineral exploration, auctioning, and sustainable mining. This will drive efficiency, attract investments, and unlock the immense potential of our mineral resources.

    The announcement of a Tailings Policy further bolsters the objectives of the National Critical Mineral Mission. By enabling the recovery of valuable critical minerals from mining tailings, this policy will enhance domestic availability thereby strengthening our strategic industries, including clean energy, semiconductors, defense, and space. Investing in research and development for efficient recovery processes will strengthen India’s self-reliance in critical mineral supply chains.

    Building on the series of tax relief measures for the mining sector of last year’s Budget, particularly concerning critical minerals, this year’s budget also introduces a range of progressive tax proposals. These measures will significantly enhance the competitiveness of the entire mining sector, especially as India begins to solidify its position in the critical mineral industry. The elimination of import duties on non-ferrous metal scraps and critical mineral scraps, including cobalt powder and lithium-ion battery (LIB) scraps, is a game-changer. These measures will enhance the competitiveness of our secondary metal and critical mineral recycling industries, reduce production costs, and stimulate new investments in advanced recycling technologies. This will lead to a major boost in supply chain resilience and promote India as a global leader in critical minerals processing. 

    Over the last 10 years, under the leadership of Hon’ble Prime Minister, Shri Narendra Modi, India’s mining sector has witnessed unprecedented reforms. From being a corruption laden and litigation ridden sector prior to 2014, today India’s mining sector is aspiring to be a global player in sustainable mining and critical mineral value chain. Today’s budgetary announcements continue our government’s steadfast commitment towards the growth and modernization of the mining sector.

    India’s coal and mining sector stands as one of the largest sources of employment in the country, these reforms will further enhance the ambit of the mining sector and create new employment opportunities and enable skill development in next-gen technology.

    As we strive to achieve the goal of Net Zero emissions by 2070 and lead the global energy transition race, the mining sector will play a critical role in securing the critical minerals required for this transformation. India is working on war footing to develop a sound domestic infrastructure for addressing climate change and advancing clean energy solutions. With this approach and continued reforms in the sector, India is set to emerge as a global player in sustainable mining, shaping the future of both our economy and the world.” Union Minister Shri G Kishan Reddy on mining proposals in the Budget 2025-26.

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