Key points of 20 Lakh Crores Economic Package declared by Narendra Modi Govt., Finance Minister Nirmala Sitharaman.

NEW DELHI: Finance minister Nirmala Sitharaman on Wednesday unveiled the details of the mega economic stimulus package aimed at uplifting the #economy battered by the ongoing nationwide lockdown to combat the spread of the novel #coronavirus.

In a big push to revive the economy, PM #Modi announced a Rs 20 lakh crore package while addressing the nation on the coronavirus situation. The package combines the government's recent announcements on supporting key sectors as also measures rolled out by the Reserve Bank of India (RBI).

Here are the key points of Sitharaman's address:

√ With effect from May 14 till March 31, 2021, TDS/TCS (tax deducted at source/tax collected at source) has been reduced by 25% of the existing rate and is applicable to all payments. It will release Rs 50,000 crore in the hands of the people instead of paying them as taxes.

√ Due date of all #income-tax return for FY 2019-20 will be extended from July 31, 2020 & October 31, 2020 to November 30, 2020 and Tax audit from September 30, 2020 to October 31, 2020.

√ Government announces Rs 3 lakh crore collateral free loans for #MSMEs, having a 4 year tenure and #moratorium of 12 months. These loans will be available till October 31, 2020 and will be 100 per cent credit guaranteed. This will help 45 lakh units to resume activity and safeguard jobs.

√ To provide stressed MSMEs with equity support, government will facilitate provision of Rs 20,000 crore as subordinate debt.

√ MSMEs definition has been changed so that they need not worry about growing in size and still avail of the benefits.

√ Investment limit which defined an MSME has been revised upwards to Rs 1 crore as compared to Rs 25 lakh earlier.

√ For MSMEs needing handholding, a Rs 50,000 crore fund of funds (FoFs) through mother fund - daughter fund framework is being created, to expand their capacity and to get listed on markets which they choose.

√ Global tenders will be disallowed in government procurement for tenders up to Rs 200 crore. This will make self-reliant India, will also then be able to serve 'Make in India'.

√ Seamless e-market linkages across the board will be provided to MSMEs, considering their inability to participate in trade fairs due to COVID-19. All pending payments to MSMEs, from central govt. bodies & PSUs to be done within the next 45 days.

√ #EPF support for business and workers has been extended for the next 3 months, providing liquidity relief of Rs 2,500 crore. Statutory PF contribution for those not covered earlier is being reduced to 10 per cent from 12 per cent. The reduction is not for Central government.

√ Period of Vivad se Vishwas Scheme for making payment without additional amount extended to December 31, 2020.

√ Special liquidity scheme of Rs 30,000 crore for NBFCs/HFCs/MFIs has been launched. Investments in both primary and secondary markets, to buy even investment-quality debt papers. This will ease the flow of credit.

√ One time liquidity infusion of Rs 90,000 crore has been made for all power distribution companies. This will be against receivables and will enable Discoms to pay generation companies. They will eventually pass on benefits to customers.

√ All pending refunds to charitable trusts and non-corporate business and professions to be issued immediately.

√ Government announces Rs 45,000 crore liquidity infusion through a Partial Credit Guarantee Scheme 2.0 for NBFCs.

√ In a major relief to contractors, all Central agencies to provide an extension of up to 6 months, without cost to contractor, to obligations like completion of work covering construction and goods and services contracts.

√ Ministry of housing and urban affairs will issue advisory to states and UTs enabling invocation of force majeure / Act of God measure during COVID-19 period, for all registered real estate projects expiring on or after March 25, 2020. This will bring flexibility in contract enforcement.

√ Essentially the package is to spur growth and enhance demand and to create an atmanirbhar (self-reliant) India.

√ PM laid out a comprehensive vision, and that vision was laid out after wide consultations with several sections of the society.

√ Five pillars of a self-reliant India are: Economy, infrastructure, system, demography and demand.

√ Intention is to make local brands and take it into global level.

√ Self-reliant India does not require India to be an isolationist country.

...
Source: TOI

Which is worlds Beautiful Kites Festival .. Gujarat,India or Australia..?

International Kite Festival, as the word festival Gujarat celebrates more than 2,000 festivals every year. Some of that is bigger... Uttarayan, Holi, Janmashtami, Navratri and Diwali. All are colorful and joy full festivals.

As per wiki there are many countries celebrating kite-festival as per their interest. As given one of the Beautiful kite festival is Australian kite festival "Winds Australia, also other countries like Japan Kite Festival in Uchinada-Ishikawa, Jakarta Kite Festival in Pangandaran, Washington State International Kite Festival formerly called Smithsonian Kite Festival, and now known as The Blossom Kite Festival, Indonesia Kite Festival in Bali island, Bali Kite Festival, United-Kingdom Kite Festival in Bristol city, Bali Kite Festival, United-Kingdom Kite Festival in Bristol city, Bristol International Kite Festival.

To celebrate kite festival at Gujarat, India visit "Gujarat Tourism" website and come to Ahmedabad, Gujarat, India on between 10th to 15th January every year.

Interesting Facts about India

* India never invaded any country in her last 100000 years of history.
* When many cultures were only nomadic forest dwellers over 5000 years ago, Indians established Harappan culture in Sindhu Valley (Indus Valley Civilization)
* The name 'India' is derived from the River Indus, the valleys around which were the home of the early settlers. The Aryan worshippers referred to the river Indus as the Sindhu.
* The Persian invaders converted it into Hindu. The name 'Hindustan' combines Sindhu and Hindu and thus refers to the land of the Hindus.
* Chess was invented in India.
* Algebra, Trigonometry and Calculus are studies, which originated in India.
* The 'Place Value System' and the 'Decimal System' were developed in India in 100 B.C.
* The World's First Granite Temple is the Brihadeswara Temple at Tanjavur, Tamil Nadu. The shikhara of the temple is made from a single 80-tonne piece of granite. This magnificent temple was built in just five years, (between 1004 AD and 1009 AD) during the reign of Rajaraja Chola.
* India is the largest democracy in the world, the 6th largest Country in the world, and one of the most ancient civilizations.
* The game of Snakes & Ladders was created by the 13th century poet saint Gyandev. It was originally called 'Mokshapat'. The ladders in the game represented virtues and the snakes indicated vices. The game was played with cowrie shells and dices. In time, the game underwent several modifications, but its meaning remained the same, i.e. good deeds take people to heaven and evil to a cycle of re-births.
* The world's highest cricket ground is in Chail, Himachal Pradesh. Built in 1893 after leveling a hilltop, this cricket pitch is 2444 meters above sea level.
* India has the largest number of Post Offices in the world.
* The largest employer in the world is the Indian Railways, employing over a million people.
* The world's first university was established in Takshila in 700 BC. More than 10,500 students from all over the world studied more than 60 subjects. The University of Nalanda built in the 4th century was one of the greatest achievements of ancient India in the field of education.
* Ayurveda is the earliest school of medicine known to mankind. The Father of Medicine, Charaka, consolidated Ayurveda 2500 years ago.
* India was one of the richest countries till the time of British rule in the early 17th Century. Christopher Columbus, attracted by India's wealth, had come looking for a sea route to India when he discovered America by mistake.
* The Art of Navigation & Navigating was born in the river Sindh over 6000 years ago. The very word Navigation is derived from the Sanskrit word 'NAVGATIH'. The word navy is also derived from the Sanskrit word 'Nou'.
* Bhaskaracharya rightly calculated the time taken by the earth to orbit the Sun hundreds of years before the astronomer Smart. According to his calculation, the time taken by the Earth to orbit the Sun was 365.258756484 days.
* The value of "pi" was first calculated by the Indian Mathematician Budhayana, and he explained the concept of what is known as the Pythagorean Theorem. He discovered this in the 6th century, long before the European mathematicians.
* Algebra, Trigonometry and Calculus also originated in India.Quadratic Equations were used by Sridharacharya in the 11th century. The largest numbers the Greeks and the Romans used were 106 whereas Hindus used numbers as big as 10*53 (i.e. 10 to the power of 53) with specific names as early as 5000 B.C.during the Vedic period.Even today, the largest used number is Terra: 10*12(10 to the power of 12).
* Until 1896, India was the only source of diamonds in the world
(Source: Gemological Institute of America).
* The Baily Bridge is the highest bridge in the world. It is located in the Ladakh valley between the Dras and Suru rivers in the Himalayan mountains. It was built by the Indian Army in August 1982.
* Sushruta is regarded as the Father of Surgery. Over2600 years ago Sushrata & his team conducted complicated surgeries like cataract, artificial limbs, cesareans, fractures, urinary stones, plastic surgery and brain surgeries.
* Usage of anaesthesia was well known in ancient Indian medicine. Detailed knowledge of anatomy, embryology, digestion, metabolism,physiology, etiology, genetics and immunity is also found in many ancient Indian texts.
* India exports software to 90 countries.
* The four religions born in India - Hinduism, Buddhism, Jainism, and Sikhism, are followed by 25% of the world's population.
* Jainism and Buddhism were founded in India in 600 B.C. and 500 B.C. respectively.
* Islam is India's and the world's second largest religion.
* There are 300,000 active mosques in India, more than in any other country, including the Muslim world.
* The oldest European church and synagogue in India are in the city of Cochin. They were built in 1503 and 1568 respectively.
* Jews and Christians have lived continuously in India since 200 B.C. and 52 A.D. respectively
* The largest religious building in the world is Angkor Wat, a Hindu Temple in Cambodia built at the end of the 11th century.
* The Vishnu Temple in the city of Tirupathi built in the 10th century, is the world's largest religious pilgrimage destination. Larger than either Rome or Mecca, an average of 30,000 visitors donate $6 million (US) to the temple everyday.
* Sikhism originated in the Holy city of Amritsar in Punjab. Famous for housing the Golden Temple, the city was founded in 1577.
* Varanasi, also known as Benaras, was called "the Ancient City" when Lord Buddha visited it in 500 B.C., and is the oldest, continuously inhabited city in the world today.
* India provides safety for more than 300,000 refugees originally from Sri Lanka, Tibet, Bhutan, Afghanistan and Bangladesh, who escaped to flee religious and political persecution.
* His Holiness, the Dalai Lama, the exiled spiritual leader of Tibetan Buddhists, runs his government in exile from Dharmashala in northern India.
* Martial Arts were first created in India, and later spread to Asia by Buddhist missionaries.
* Yoga has its origins in India and has existed for over 5,000 years.

Source: india.gov.in