Page 28 - Plastics News July 2019
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FeAtures
7. MSME
350 crore rupees allocated for 2% interest subvention After Consolidation of Public Sector Banks, now
for all GST-registered MSMEs on fresh or incremental 70,000 Crore of Capital boost for credit improvement
loans Government has smoothly carried out consolidation,
MSME: Large-scale extensive reforms planned, reducing the number of PSBs by 8
government to create a platform for MSME payments NBFCs – that are fundamentally sound, will get
MSME to get loans up to 1 crore within 59 minutes. fundings from govt to a total of 1lakh crore during
Loans worth Rs. 350 crore already disbursed the current financial year
8. Women Empowerment RBI has limited regulatory Authorities, Now the
Regulatory Authorities of RBI over NBFC will be placed
Committee to be formed with Public and Private
stakeholders for gender equality: FM Proposals for strengthening the regulatory authority
of RBI over NBFCs – Debenture Redemption Reserve
Every SHG Women having Jan Dhan Account – Rs. to be maintained
5,000/- overdraft allowed: FM
Proposal to return regulatory authority from NHB
Loan up to 1 lakh under Mudra Scheme for Women to RBI
entrepreneurs: FM
12. Electric Vehicles
9. NRI
Lower GST Rate from 12% to 5% on Electric vehicle
Proposal for Issuance of Aadhar Card on arrival for and Additional Income Tax Deduction of 2.5 Lakh on
NRIs with Indian Passports: FM
Interest paid on loan taken to purchase an electric
Aadhaar card for NRI’s post arrival in India vehicle
To increase NRI investment in Indian capital market
– NRI portfolio scheme route and FPI route should
merge
10. Budget
Railway infra would need an investment of 50 lakh
crores between 2018 and 2030;
PPP to be used to unleash faster development and
delivery of passenger freight services
Railway Station Modernisation will be launched this
year. To make electric vehicles affordable, additional IT
Indian Railways to be encouraged to invest more in deduction on 1.5 lakh on interest paid on loan taken
urban and suburban regions to purchase electric vehicles.
657KM of Metro Rail operational in the country. 13. Technology
11. Banking and Financial Sector Solar storage batteries and chargers included in 35AD
deduction: FM
Reforms will be taken to strengthen governance in
Public Sector banks Program of mass scaling of LED Bulbs – Approx. 35
Crores of LED bulbs distribute
NPAs of commercial banks reduced by over 1 lach
crores over last year Machines and robots to be deployed for scavenging
Record Recovery of over 4lac crore with IBS Focus on VR, AI, Robotics training to youth to align
NPAs of commercial banks reduced by over 1 lakh India with the World
crore over last year
Plastics News July 2019 28
