Chief Minister inaugurates Sri City Progress Celebrations

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The Hon’ble Chief Minister of Andhra Pradesh, Mr. N. Chandrababu Naidu, graced the Progress Celebrations-2024 in Sri City, a thriving industrial hub, marking a significant milestone in its development. Upon his arrival at the helipad, the Chief Minister was warmly received by Dr. Venkateswar, District Collector of Tirupati, Mr. L. Subbarayadu, Superintendent of Police, Tirupati, along with Mr. C. Sriniraju, Chairman, and Mr. Ravindra Sannareddy, Founder Managing Director of Sri City,

The Chief Minister participated in a vibrant ceremony, laying the foundation stone for eight new companies and inaugurating 16 manufacturing units. He also witnessed the signing of Memoranda of Understanding (MoUs) between Sri City and five more companies, signalling a commitment to further growth. These new ventures represent a total investment of Rs. 1570 crore and are expected to create over 8,500 new jobs in the region.

He further inaugurated the newly built fire-station and laid the foundation for the new Hi-Tech Police Station, bolstering infrastructure and safety within the industrial hub.

During an interactive session with industry leaders, Mr. Naidu commended Mr. C. Sriniraju, and Mr. Ravindra Sannareddy for their vision and dedication in transforming an underdeveloped region into a global model for industrial development. “Sri City has emerged as one of the finest examples of industrial development in the country and beyond, a fact of which I am immensely proud,” he stated. He highlighted Sri City’s cooler climate and active greenery initiatives.

The Chief Minister reaffirmed his government’s commitment to supporting investors, focusing on enhancing both the ease and speed of doing business, and reducing costs. He announced that fire renewals for industries will now be required every five years, not annually, and promised timely payment of pending incentives, infrastructure improvements, and lower water and power tariffs.

Industries Minister Mr. T.G. Bharath announced that government is working on a new industrial policy making it easier, faster, and more affordable to invest in the state.

Expressing his heartfelt gratitude to the Chief Minister, Mr. Ravindra Sannareddy stated, “Sri City has crossed another significant milestone, marking a pivotal moment in its continued development. He added, “Under your dynamic leadership and forward-thinking industrial policy, Andhra Pradesh will continue as the preferred destination for global investments.”

The event was attended by numerous dignitaries, including Home Minister Mrs. V. Anitha, MLA Satyavedu Mr. Koneti Adimulam, and MLA Sullurupeta Dr. N. Vijayashree. Top government officials, including Mr. C. Dwaraka Tirumala Rao, IPS, DGP, Madireddi Pratap, IPS, DG, Fire Services, Dr. Yuvaraj, IAS, Secretary, Industries Department, Dr. Shemushi, IPS, DIG Anathapuram, Mr. M. Abhishikth Kishore, IAS, MD, APIIC, Dr. Ch. Sridhar, Director of Industries and other senior State Government officials, were also present.

CBDT issues clarification in respect of Income-tax clearance certificate (ITCC)

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Section 230 (1A) of the Income-tax Act, 1961(the ‘Act’) relates to obtaining of a tax clearance certificate, in certain circumstances,by persons domiciled in India. The said provision, as it stands, came on the statute through the Finance Act, 2003 w.e.f. 1.6.2003. The Finance (No.2) Act, 2024 has made only an amendment in Section 230(1A) of the Act, vide which, reference of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (the ‘Black Money Act’) has been inserted in the said Section. This insertion has been made to also cover the liabilities under the Black Money Act in the same manner as the liabilities under the Income-tax Act,1961 and other Acts dealing with direct taxes for the purpose of Section 230(1A) of the Income-tax Act,1961.

There appears to be a mis-information about the said amendment emanating from incorrect interpretation of the amendment. It is being erroneously reported that all Indian citizens must obtain income-tax clearance certificate (ITCC) before leaving the country. This position is factually incorrect.

As per section 230 of the Act, every person is not required to obtain a tax clearance certificate. Only certain persons, in respect of whom circumstances exist which make it necessary to obtain a tax clearance certificate,are required to obtain the said certificate. This position has been in the statute since 2003 and remains unchanged even with the amendments vide Finance (No. 2) Act, 2024.

 In this context, the CBDT, vide its Instruction No. 1/2004, dated 05.02.2004, has specified that the tax clearance certificate under Section 230(1A) of the Act, may be required to be obtained by persons domiciled in India only in the following circumstances:

  1. where the person is involved in serious financial irregularities and his presence is necessary in investigation of cases under the Income-tax Act or the Wealth-tax Act and it is likely that a tax demand will be raised against him, or
  2. where the person has direct tax arrears exceeding Rs. 10 lakh outstanding against him which have not been stayed by any authority.

Further, a person can be asked to obtain a tax clearance certificate only after recording the reasons for the same and after taking approval from the Principal Chief Commissioner of Income-tax or Chief Commissioner of Income-tax.

In view thereof, it is reiterated that the ITCC under Section 230(1A) of the Act, is needed by residents domiciled in India, only in rare cases, such as (a) where a person is involved in serious financial irregularities or (b) where a tax demand of more than  Rs.  10 lakh is pending which is not stayed by any authority.

Shri Ashok Kumar Singh takes over the charge of Director General, ESIC

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Shri Ashok Kumar Singh, IAS took over the charge of Director General of Employees’ State Insurance Corporation (ESIC) under Ministry of Labour & Employment, Govt. of India at its Headquarters in New Delhi.

Shri Ashok Kumar Singh is an IAS Officer of 1999 batch of Kerala cadre. Earlier, he has worked as a Principal Secretary, Water Resources Department, Govt. of Kerala. He has got vast experience of governance and management of District and State level organisations.

At the centre level, he has served as the Executive Director in the National Mission for Clean Ganga, as Joint Secretary in Ministry of Defence and as Director in Ministry of Finance in the Govt. of India also.

Shri Singh, holds an M. Phil from National Defence College, New Delhi and is a Graduate in Mechanical Engineering from IIT, Kanpur.

India Australia RISE Accelerator calls for Start-ups and MSMEs in Climate Smart Agritech

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The Atal Innovation Mission – in partnership with CSIRO, Australia – is inviting applications from start-ups and MSMEs from India and Australia for the Climate Smart Agritech cohort of the India Australia Rapid Innovation and Start-up Expansion (RISE) Accelerator – a program designed to support businesses aiming for international expansion between the two countries. This marks a significant milestone in fostering innovations that address India and Australia’s most pressing shared challenges in the agriculture sector.

Commencing in October 2024, the Climate Smart Agritech cohort of the RISE Accelerator will focus on start-ups and MSMEs with technologies and solutions that enhance agricultural productivity and resilience in the face of growing climate variability, resource scarcity and food insecurity.

The program is particularly interested in start-ups and MSMEs with solutions that prioritise farmer needs, priorities, and on-farm practices.      

The RISE Accelerator program – launched in 2023 – has been instrumental in supporting start-ups and MSMEs in validating, adapting, and piloting their technologies for new markets. With the introduction of the Climate Smart Agritech cohort, the focus is now on agritech start-ups and MSMEs with solutions that enhance agricultural productivity and resilience in the face of growing environmental challenges.

Tamara Ogilvie, Program Director, CSIRO said, “India and Australia share common agricultural challenges, but the scale and diversity of our farming operations are unique. This cohort will enable participants to achieve product-market fit in diverse markets, and rapidly scale their solutions to meet global demands”

Over the course of the nine months of the accelerator program, the selected start-ups and MSMEs will benefit from a blend of self-paced online learning and in-person sessions, including immersion weeks in both India and Australia. These sessions will offer deep market insights, one-on-one coaching, and mentorship from subject matter experts and industry professionals. The program is designed to facilitate connections with potential partners and customers, boosting the chances of success in new markets.

The program will also involve field trials and technology pilot in the latter half.

Highlighting the importance of the program, Pramit Dash, Program Lead, AIM stated, “by fostering innovation and providing a platform for start-ups to scale their solutions, the RISE Accelerator program not only addresses the immediate challenges in the agriculture sector but also ensures that farmers can access and adopt resilient practices tailored to their specific needs”

The program’s latest round seeks novel solutions to tackle critical agricultural challenges, including boosting productivity, reducing emissions and optimising natural resource use.

Applications for the RISE Accelerator close on 15 September 2024. 

There is no charge for start-ups / SMEs to participate in the program, with a number of opportunities to travel between Australia and India. Selected start-ups / SMEs may also be eligible for up to INR 45 lakhs in non-equity grant.

SAIL declares financial result for Q1 FY’25

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Steel Authority of India Limited (SAIL) has declared its financial results today for the quarter ending 30th June, 2024.During Q1 FY’25, the Company’s EBITDA grew by more than 15% over the corresponding period last year (CPLY), indicating its steady core performance. However, revenue from operations was affected by a decline in Net Sales Realization (NSR) in the domestic steel market due to cheap imports. The profit for Q1 FY’25 was impacted by lower NSR and adjustments related to exceptional items.

Shri Amarendu Prakash, Chairman, SAIL, commented on the Q1 performance stating, “Domestic steel consumption continues to grow steadily, driven by both traditional and emerging sectors. Additionally, ongoing Government investments in the infrastructure sector, as announced in the recent budget, are expected to bolster growth. With a positive outlook for the domestic steel sector, SAIL is focused on increasing its production volumes. The challenges posed by cheaper imports are anticipated to be addressed appropriately in the future”.

Union Minister For Coal and Mines Holds an Interactive Session with Industry Leaders and Addresses the National Seminar on Challenges and Opportunities in The Mines and Minerals Sector

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Minister for Coal and Mines Shri G. Kishan Reddy today addressed the national seminar on challenges and opportunities in the mines and minerals sector organized by the Mining, Geological, Metallurgical Institute of India, today in New Delhi. The seminar was attended by several key dignitaries including Shri V.L. Kantha Rao, Secretary Ministry of Mines and other senior officers from the Ministry of coal and Ministry of Mines along with a spectrum of coal and mines stakeholders from Government.

Shri G. Kishan Reddy also engaged in a constructive discussion with CEOs from both private and public sector companies involved in the mining and exploration industries. During the interaction, industry representatives presented the challenges they face, along with valuable suggestions and recommendations.

The Minister assured that all raised issues and proposed policy suggestions would be thoroughly reviewed and deliberated by the Ministry, with prompt actions to follow. Shri Reddy expressed gratitude to the participants for their active involvement and encouraged ongoing feedback. He emphasized that such interactions are crucial for good governance and demonstrate the industry’s dynamic nature and the importance of strong coordination with Government efforts.

Addressing the gathering of distinguished industry leaders, Shri G. Kishan Reddy stated that India’s vast natural resources will prove to be pivotal to the nation’s journey towards Viksit Bharat – 2047 and attaining Atmanirbharta in the letter and spirit. He added that under the leadership of the Prime Minister Shri Narendra Modi, the Government has brought about a paradigm change in the coal and minerals sector, making it transparent and competitive. He further stated that and detailed the Government’s extensive efforts over the past decade to harness this potential through initiatives such as introduction of commercial auction regime for coal and mineral blocks, encouraging private sector partnership etc.

Minister further stated that Critical Minerals have emerged as drivers of modern economy and the Government of India has ensured that the country taps into this global opportunity through the launch of the National Critical Minerals Mission.

Minister also emphasised on the importance of private sector partnership and called on the industry leaders to become part of this unfolding growth story of India. He said that the Government has undertaken several measures to enhance ease of doing business to encourage their participation and also mitigate the risks associated. He stated that initiatives such as reimbursement of 50% exploration expenditure for Exploration License and Composite licence holders encourages greater participation.

Shri G. Kishan Reddy also deliberated in detail on the steps being taken by the Government reduce import reliance in coal and measures to augment domestic coal producing capacity of the country. Shri Reddy also discussed initiatives such as “Mission Coking Coal,” aiming to produce 140 million tonnes of coking coal by 2030, and efforts to boost sustainable mining practices through the National Mineral Policy 2019 and advanced technologies. He added that, Coal India’s focus on improving existing washeries and setting up new ones is important for reducing the import burden and meeting domestic demand. Initiatives such as Mission Coking Coal and focus on enhancing washeries capacity of India, will usher in a change in the coal ecosystem of India.

On the minerals front, Shri Reddy acknowledged the capital-intensive nature of minerals exploration and highlighted the need for greater research, scientific enquiry and collaborations to enhance our capacities.

In line with the sustainable mining objective, Shri Reddy highlighted the promotion of underground mining, with a target of achieving 100 million tonnes by 2029-30. Additionally, several measures are being adopted to advance clean fuel technologies, including coal gasification, extraction of Coal Bed Methane (CBM) gases, exploration of coal-to-hydrogen processes, and Carbon Capture and Storage (CCS).

In closing, Shri G Kishan Reddy called for industry representatives to collaborate with the Government in advancing technology and innovation in the mining sector. “I am confident that today’s conference will foster a thorough discussion on the challenges and solutions for a sustainable mining sector. The private sector’s innovation and risk-taking will be pivotal in making India the third-largest economy in the near future,” he added.

The seminar provided a platform for robust discussions and exchanged ideas on the future of India’s mining and minerals sector, reinforcing the Government’s commitment to both industrial growth and sustainable development.

Union Minister Shri Manohar Lal reviews urban development schemes and the power sector scenario of Assam with CM Shri Himanta Biswa Sarma

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Union Minister of Housing and Urban Affairs and Minister of Power, Shri Manohar Lal, held a meeting with Chief Minister of Assam, Shri Himanta Biswa Sarma in New Delhi today.

The discussions between the Union Minister and the CM covered topics related to power and Urban development sector.Union Minister Shri Manohar Lal noted the progress of smart metering and loss reduction works under RDSS in the State of Assam and appreciated the efforts of the State.

Chief Minister, Assam, requested for approval of Smart Distribution project for the city of Guwahati. He also requested for consideration of the request of the State on the pending issue of the scheme RAPDRP. Union Minister of Power assured for all the support and cooperation.

CM, Assam also requested for providing necessary grants for setting up the School of Planning and Architecture in Assam. He also put forward issues related to release of funds under AMRUT schemes for 100% saturation in 43 Urban Local Bodies as well as Sewage Treatment Plants in 3 AMRUT cities.

Dr. Virendra Kumar presides over signing of 72 MoUs between DEPwD with various startups and private organizations across multiple disability sectors to bring tangible benefits to Divyangjans

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As part of the ongoing efforts of the Department of Empowerment of In today’s era of technological advancement, numerous initiatives and cutting-edge products are being developed in the private sector to enhance the lives of persons with disabilities and foster an inclusive society. In April and May 2024, the department organized six Purple Talks sessions/workshops. Purple Talks focused on engaging with Indian start-ups, companies, academic institutions, and organizations that have developed innovative, technology-based products and programmes to empower persons with disabilities. 

Over 100 organizations participated, presenting their products, innovations, and technologies in areas such as physical disabilities, intellectual disabilities, visual impairments, hearing impairments, education and skill development, and employment and entrepreneurship for persons with disabilities. Consequently, national institutions and CRCs were instructed to sign MoUs with these start-ups and organizations to expand the department’s scope and meet the needs of persons with disabilities.

Persons with Disabilities (DEPwD) to empower persons with disabilities socially, educationally and economically, various National Institutions and Composite Regional Centres (CRCs) under the department signed 72 MoUs with private institutions and start-ups. Union Minister of Social Justice and Empowerment, Dr. Virendra Kumar presided over the ceremony as Chief Guest, in New Delhi today. Minister of State in the Ministry, Shri B.L. Verma, also graced the occasion with his esteemed presence.

On this occasion, Dr. Virendra Kumar stated that under Prime Minister Shri Narendra Modi’s leadership over the past decade, the DEPwD has consistently played a significant role in the social, economic, and educational empowerment of persons with disabilities. He noted that under Prime Minister’s vision of a self-reliant India, many institutions are manufacturing useful devices within the country at low costs to make the lives of persons with disabilities easier. In addition to governmental efforts, the cooperation of various social organizations is crucial for the empowerment and employment of persons with disabilities. They are an essential part of our society and need our continuous efforts. Effective collaboration between the government and various organizations is vital in this endeavor. The work done by the organizations present here in the field of disability is highly commendable. Our government and department have always been keen to work with organizations that strive for positive change and create an inclusive environment, he emphasized.

Addressing the programme, Minister of State Shri B.L. Verma, highlighted that the MoUs signed today demonstrate our commitment to persons with disabilities. He stated that the persons with disabilities possess immense potential, the only thing they only need are opportunities. Their indomitable will to work serves as an inspiration to the general public. The MoUs signed today by the national institutions and CRCs with various organizations will provide them with this platform.

Secretary (DEPwD) Shri Rajesh Aggarwal remarked that there is a significant shift in society’s perspective towards persons with disabilities. Many private institutions present at this event have been working extensively to provide employment to persons with disabilities, which is a commendable initiative towards positive change. He noted that while the government is creating excellent policies, it is also helping to scale up efforts in collaboration with private organizations.

The MoUs will promote the creation of innovative, technology-based products aimed at empowering families of persons with disabilities, raising awareness about disabilities, preventing and treating clubfoot, and building the capacity of trainers and teachers. Various companies and start-ups from across the country, including Zomato, IIT Madras, EnAble India, Neo Motion, Cure India, Assam Rifles, and Radio Udaan, participated in the program. The event was attended by senior officials of the Ministry, Directors of national institutions, and representatives from participating companies

VENDOR DEVELOPMENT PROGRAMMES FOR MSMEs

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The detail of State wise beneficiaries (Total 9,474 MSMEs) through the Vendor Development Programme (VDP) organized by the Development Institutions (DIs) during 2019-2023.

Vendor Development Programme is organized to facilitate market linkages for effective implementation of Public Procurement Policy. It benefits MSMEs in their GeM registration and detailed understanding of Public Procurement with CPSEs. During 2019-23, 7509 Micro Units, 1807 Small Units and 158 Medium Units participated in Vendor Development Programmes organized by MSME-Development and Facilitation Office’s (DFOs) in collaboration with CPSEs and other Government Departments.

Vendor Development Programmes through effective implementation of Public Procurement Policy has expanded the business of MSMEs. Ministry of MSME has notified the implementation of the Public Procurement Policy for Micro and Small Enterprises order, 2012 from 1st April, 2012 with the objective of promoting the growth and development of MSEs by improving their market access and linkages. This policy provides the following benefits to MSEs by the CPSUs:

(i)   Purchase Preference: Policy mandates 25% annual procurement from Micro and Small Enterprises (MSEs) by Central Ministries/ Departments/ Central Public Sector Undertakings (CPSUs), including 4% from MSEs owned by SC/ST and 3% from MSEs owned by Women entrepreneurs.

(ii) Price match-making facility: If the L1 price by a non-MSE is the lowest, participating MSEs quoting a price within a band of L1+15% will be allowed to bring down their price to match L1 price. Such MSEs are allowed to supply at least 25% of total tendered value. In case there is more than one such MSE, the supply will be shared proportionately (to tendered quantity). In case the tender item is non-splitable or non-divisible, an MSE quoting a price within the price band L1+15% may be awarded full or complete supply of total tendered value, if it matches the L1 price.

(iii)    Exemption from Earnest Money Deposit: MSEs are exempted from payment of earnest money deposit.

(iv)    Other Benefits: To reduce the transaction cost of doing business, MSEs are facilitated by providing them tender sets free of cost and adopting e-procurement to bring in transparency in tendering process.

The benefits listed at (i) to (iv) above are available only to Micro and Small Enterprises.

This information was given by Minister of State for Ministry of Micro, Small & Medium Enterprises, Sushri Shobha Karandlaje in a written reply in Rajya Sabha today.

Airbus A321XLR receives EASA type certification

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The Airbus A321XLR powered by CFM LEAP-1A engines has received its Type Certification from the European Union Aviation Safety Agency (EASA), preparing the way for the entry-into-service of the new aircraft at the end of the summer. The Type Certificate was handed over by Florian Guillermet, Executive Director of EASA to Isabelle Bloy, A321XLR Chief Engineer. Certification of the Pratt & Whitney engine version is slated for later in 2024.

“Here comes the A321XLR, a differentiated product that brings new value to the market, expanding the possibilities for our airline customers and passengers. With its long range, the A321XLR enables a host of new direct routes, offering natural growth opportunities to our customers and the travelling public. It provides airlines with the efficiency of commonality inside the A320/A321 product range and its versatile cabin a range of service possibilities that are just unique. It is quintessential Airbus!”, says Christian Scherer, CEO of the Commercial Aircraft business of Airbus. “With the certification, we have reached a key milestone. The next step is to prepare the aircraft for its first commercial missions with customers worldwide. We look forward to working with XLR customers to support the integration of the aircraft in their fleets.”

The A321XLR sits side by side with widebodies in an airline’s fleet. It introduces the flexibility to add capacity, to open new routes, or even to continue operating existing ones when demand is variable. All while burning 30% less fuel per seat than previous generation competitor aircraft, and at roughly half the trip cost of modern widebodies. The A321XLR’s new Airspace cabin will provide passengers long haul comfort in all classes.

The first A321XLR completed its maiden flight in June 2022. This was followed by an extensive test programme involving three test aircraft. So far more than 500 Airbus A321XLRs have been ordered.