Connect with us
Monday,06-February-2023
Breaking News

Business

Puducherry: Nirmala Sitharaman releases BJP manifesto, vows 2.5L jobs

Published

on

Finance-Minister-Nirmala-Sitharaman

Union Finance Minister Nirmala Sitharaman released the election manifesto of the BJP for the April 6 Puducherry Assembly polls on Friday with a slew of welfare measures and promising creation of 2,50,000 jobs for the youth.

Puducherry will get “Special Union Territory” status. This will ensure devolution of funds from 25 per cent to 40 per cent as was done in Jammu and Kashmir.

The manifesto also promised to meet the aspirations of the people as it is finalized after getting feedback from the public. The BJP had gathered opinion from around 50,000 people of Puducherry before preparing the manifesto.

“A BJP government at the Centre and the union territory will ensure implementation of all central schemes. The previous state government did not do this fearing that the credit would go to the central government and Prime Minister Narendra Modiji,” the minister said.

The manifesto promises measures aimed at the empowerment of women, besides making Puducherry a spiritual hub and provide free and quality education to girls from Kindergarten to Post-Graduate level. The BJP has also promised free scooters to girls in colleges.

The promises also include interest-free loans of up to Rs 5 lakh for women self-help groups and also waiver of loans taken by Women SHG’s which were affected by the Covid-19.

There will be 50 per cent reservation for women employees in government institutions and in local body elections, the manifesto promised, besides free public transport for women.

The BJP also promised free healthcare for women, setting up of sanitary napkin vending machines at schools, colleges, public places, PDS outlets and Anganwadis.

The manifesto promises to built a 150 ft statue of poet Subramania Bharathy and set up new tourism centres across Puducherry to promote tourism. It also promised to constitute new IT Parks, Textile parks, an elevated railway line to Chennai via Mammalapuram.

Creating separate school education board for Classes 10 and 12 that has been a long pending demand of the people of Puducherry.

The BJP has promised to convert Puducherry to a spiritual hub and to restore the glory of Thirunallar temple — a new temple complex will be built. All donations at places of worship will be removed from government-control, the manifesto promised.

The Pondicherry University will be split into Pondicherry Technology University, Pondicherry Arts and Science University and Pondicherry Medical University.

Puducherry Public Service Commission will be constituted for government jobs which is a long pending demand of the people of the UT.

Business

Centre asks Vodafone Idea to convert Rs 16,000 dues into equity

Published

on

By

Financially-stressed telecom company Vodafone Idea said on Friday that the government has directed it to convert a portion of its dues worth Rs 16,000 crore it owes to the exchequer into equity in the government’s favour.

“It is hereby informed that the Ministry of Communications has [directed] the company to convert the NPV of the interest related to deferment of spectrum auction instalments and AGR dues into equity shares to be issued to the government of India,” the company said in a filing.

The government will take 33 per cent equity in Vodafone Idea after converting all interest related to payments for spectrum and other dues into equity.

This will make the government the largest shareholder in the telecom company.

Vodafone Idea will convert dues of Rs 16,133 crore into equity and issue shares for Rs 10 each, the company informed.

“We had sought a firm commitment that the Aditya Birla Group would run the company and bring necessary investments. The Birlas have agreed and hence we have agreed to convert. We want India to be a three-player market plus BSNL and ensure healthy competition for consumers,” Telecom Minister Ashwini Vaishnaw said in a statement.

Continue Reading

Business

I-T dept raids over 30 locations of five builder groups across Jaipur

Published

on

By

The Income Tax department on Thursday raided over 30 locations of five builder groups across Jaipur. The teams also conducted search operations at two locations of a builder group in Gurugram.

Officials said that the I-T department had received a tip-off that these builders were engaged in making cash deals while selling flats in multi-storey buildings, plots and commercial properties in Jaipur.

After verification, 40 teams of the investigating branch of the I-T department raided their locations on Thursday morning. Raids have been conducted at the premises of Manglam Group, Sanjivani, R-Tech, Jugal Derewala and Haridutt, including their offices, corporate offices and residential premises.

The I-T teams have raided places in Jaipur including Tonk Road, Mansarovar, Rajapark, Jagatpura, C-Scheme, Civil Lines, Ajmer Road, Delhi Road, Agra Road and Sanganer.

Sources said that the department had received complaints of undisclosed income running into crores of rupees. All the five builders were using cash to buy and sell land. So the I-T teams raided around 38 targets simultaneously. According to the information received so far, huge amount of cash, and documents of land purchase and sale have been found from their premises.

Continue Reading

Business

Reliance Retail begins accepting govt’s digital rupee for sales

Published

on

By

Reliance Retail on Thursday announced it has begun accepting retail payments via the Indian government’s Digital Rupee across its stores in the country.

Reliance Retail launched the first in-store acceptance of the RBI-created and Blockchain-based Central Bank Digital Currency (CBDC) at its gourmet food store Freshpik here.

The CBDC is the a digital version of fiat money that will co-exist will hard cash.

“This historic initiative of pioneering the digital currency acceptance at our stores is in line with the company’s strategic vision of offering the power of choice to Indian consumers,” said V. Subramaniam, Director, Reliance Retail.

“With more Indians willing to transact digitally, this initiative will help us provide yet another efficient and secure alternative payment method to customers at our stores,” he added in a statement.

Reliance Retail has collaborated with ICICI Bank, Kotak Mahindra Bank and fintech Innoviti Technologies to launch the in-store support for the digital rupee.

“Digital Rupee fulfils the need of consumers who still prefer the trust, safety and settlement finality of physical currency,” said Rajeev Agrawal, Founder and CEO of Innoviti Technologies.

The RBI kicked off the first phase of a retail CBDC pilot in four cities and involving four key banks late last year.

A CBDC can play a key role in providing access to digital payments without the requirement of a bank account and the access would be facilitated by a central bank-issued digital wallet.

Use of e-rupee is expected to make the inter-bank market more efficient.

Settlement in central bank money would reduce transaction costs by pre-empting the need for settlement guarantee infrastructure or for collateral to mitigate settlement risk.

Going forward, other wholesale transactions, and cross-border payments will be the focus of future pilots, based on the learnings from this pilot project.

Continue Reading

Trending