BUDGET ANNOUNCEMENT: The Narendra Modi government has increased the budget for the Production-Linked Incentive (PLI) scheme to Rs 6,200 crore for FY25. The scheme, which currently covers 14 sectors, has attracted investments of over Rs 1.03 lakh crore and generated employment for over 6.78 lakh individuals. However, concerns have been raised about limited employment generation in sectors like leather, garment, handicrafts, and jewelry.
Defence Minister Rajnath Singh believes that infusion of capital and sharing of technology from the US can help India achieve its goal of becoming a developed country by 2047. He called for Indo-US cooperation to be a force multiplier for the rules-based world order.
India News: Defence Minister Rajnath Singh highlighted the significance of stronger India-US cooperation as a force-multiplier for the rules-based world order, pa
From the advent of GST, the Government has time and again tried to iron out the complexities, compliance hiccups and anomalies with respect to various issues, however, there are still plethora of issues on which industry seeks government intervention.
Finance Minister Nirmala Sitharaman stated that the government is close to reaching saturation in implementing social sector schemes aimed at providing basic necessities to the poor. She emphasized the need for India to become economically self-reliant and strive towards becoming a developed nation by 2047. Sitharaman regretted the lack of urgency in the past and highlighted the government s efforts to empower and provide fundamental necessities to all citizens. She also mentioned the success of Direct Benefit Transfer in enhancing transparency and efficiency, saving Rs 2.5 lakh crore.