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Tag: narendra modi

  • PM Modi, Qualcomm CEO Discuss India’s Advances in AI, Innovation, and Tech Skilling

    The President and CEO of Qualcomm, Cristiano R. Amon, met with Prime Minister Narendra Modi on 11 October to talk about India’s progress in artificial intelligence, innovation, and skill development.

    The Prime Minister conveyed gratitude for Qualcomm’s dedication to India’s AI and Semiconductor Missions. India has unparalleled talent and scale to develop innovations that will influence our shared destiny, he said.

    Amon Thanked PM Modi for His Continuous Efforts in AI

    Cristiano Amon expressed gratitude to the Prime Minister for the insightful conversation about bolstering Qualcomm’s collaboration with India in support of the IndiaAI and India Semiconductor Missions, as well as the 6G transition. He emphasised how India might become a hub for AI smartphones, PCs, smart eyewear, the automotive and industrial sectors, and more.

    “Talking about India’s advancements in AI, innovation, and skilling during our discussion with Mr Cristiano R. Amon was fantastic. It’s encouraging to see Qualcomm’s dedication to India’s AI and semiconductor initiatives,” PM said. He further explained in a post on X, stating, “India offers unparalleled talent and scale to build technologies that will shape our collective future.”

    Amon Responded PM Modi’s Post

    Cristiano Amon responded to PM Modi’s post by saying that the prospects for creating an Indian ecosystem in domains like AI cellphones, PCs, and smart eyewear are encouraging. “Thank you, Prime Minister @narendramodi, for the excellent discussion on expanding the collaboration between India and @Qualcomm to assist the IndiaAI and India Semiconductor Missions and the 6G transition.

    The prospects for creating an Indian ecosystem including AI smartphones, PCs, smart eyewear, automobiles, industries, and more inspire us,” the CEO of Qualcomm stated. Walter Russell Mead, a distinguished fellow at the Hudson Institute, an American think tank, led a visiting US team of business leaders and thinkers that Prime Minister Narendra Modi met with earlier this week.

    Following the meeting, Prime Minister Modi expressed his gratitude for their role in “strengthening India-US ties and advancing our partnership for global peace, progress, and prosperity.”

    Quick Shots

    •PM Modi meets Qualcomm CEO Cristiano Amon on 11
    October to discuss India’s AI, innovation, and skill development initiatives.

    •Talks focused on bolstering Qualcomm’s
    collaboration in these strategic programs.

    •Discussion included India’s roadmap for
    next-generation telecommunications.

    •Qualcomm sees potential for AI smartphones, PCs,
    smart eyewear, automotive, and industrial applications.

    •Highlighted India’s talent and scale to drive
    innovation that shapes the global future.

    •Emphasized the prospects for building a robust
    Indian ecosystem across AI and tech sectors.

  • Arattai Messaging App Explained: What it is, Why the IT Minister is Backing it, and if it Can Replace WhatsApp in India

    The government of India is supporting a new competitor in the texting space. Union Education Minister Dharmendra Pradhan promoted Arattai, a native messaging software created by Chennai-based Zoho Corporation, as a WhatsApp substitute that is built in India, to the public recently.

    Pradhan highlighted Arattai’s domestic origins by describing it as “free, easy-to-use, secure, and safe” in a post on the social media platform X. He urged people to support locally produced digital tools to stay in touch with friends, family, and coworkers, tying his suggestion to Prime Minister Narendra Modi’s Swadeshi campaign.

    About Arattai and its Builders

    The app’s name, Arattai, which translates to “casual chat” in Tamil, alludes to its primary goal of simplifying and enhancing daily communication. In addition to making audio and video calls, users may create stories, manage channels, and share text messages, photos, videos, and documents.

    The platform is a flexible choice for both personal and professional use since it allows businesses to reach audiences through content-sharing features. Arattai was created with user privacy in mind and now provides end-to-end encrypted communications, which protect audio and video chats from prying eyes.

    The app, which enables users to stay connected while promoting local innovation, is a component of Zoho’s larger aim to offer Indian substitutes for international digital products. Now for the parent business, Zoho Corporation, which was established in 1996 by Sridhar Vembu and Tony Thomas, is a well-established player in the software industry.

    The company, which has its headquarters in Chennai, provides more than 55 business apps, including those for project management, email, CRM, HR, and accounting. With over 130 million users in 150 countries, Zoho’s clientele includes multinational powerhouses like Amazon, Netflix, Deloitte, Puma, Toyota, Sony, and L’Oréal. Its goal to compete globally while maintaining strong domestic ties is reflected in its motto, “Made in India.” Made for the world.”

    Is it Potent Enough to Challenge WhatsApp?

    Arattai is not yet prepared to completely compete with WhatsApp, despite its increasing popularity and positive ratings. The absence of end-to-end encryption for messages is a significant drawback. A security measure called end-to-end encryption makes sure that only the sender and the recipient may read the messages. The content is inaccessible even to the service provider. It guards against hackers, spying, and unauthorised access to private and business communications.

    Arattai does provide encrypted calls, but communications are still susceptible, which may worry consumers who value their privacy. Arattai is currently unable to provide the same degree of privacy protection that users anticipate from WhatsApp due to the lack of end-to-end encryption for messages. The government’s larger effort to promote the adoption of domestic technology is also reflected in the promotion of Arattai.

    Ministers are promoting Indian-made platforms in an effort to foster local innovation and lessen dependency on multinational behemoths. Arattai is currently establishing itself as a domestic substitute with potential for expansion. Zoho might be the app that revolutionises casual chat for millions of Indians if it can close important security flaws and keep adding new features.

    Quick
    Shots

    •The name Arattai means “casual chat”
    in Tamil, and the app supports texting, voice & video calls, stories,
    channels, and media sharing.

    •It offers end-to-end encryption for
    calls but not yet for messages, which is a key privacy drawback compared to
    WhatsApp.

    •Arattai is part of Zoho’s mission to
    create Indian alternatives to global digital platforms and aligns with the
    ‘Swadeshi’ and ‘Digital India’ vision.

    •With continued development, Arattai
    could become a leading Indian messaging platform for both personal and
    professional use.

     

  • Government to Fast-Track Next Round of India Semiconductor Mission to Boost Chip Manufacturing

    At the recently finished Semicon 2025, Prime Minister Narendra Modi presided over a roundtable conversation with executives from the global semiconductor sector, during which the industry shared their thoughts on the current projects and suggestions for the next iteration.

    During the last roundtable, one executive involved in the discussions told the media that the government had promised to expedite the approval of the ISM 2.0 programme. The sector has requested far more funding—nearly twice as much as it did under the prior plan.

    Although the amount has not yet been determined, government sources stated that because the rupee has now further devalued against the dollar, the expenditure is probably going to surpass the prior outlay in order to reach the $10 billion threshold under ISM 1.0.

    Increased Funding and Subsidy Model

    The scheme’s incentives will differ for each category due to its wider scope; the highest subsidies will go to those establishing silicon wafer fabrication units, while compound semiconductor units, which require less capital, will receive smaller subsidies, according to officials.

    According to officials, a portion of the investment will also go towards MSMEs and fabless semiconductor designs. Government officials claim that the plan is nearing completion and that by the end of October, a cabinet note will be sent to the union cabinet for approval. Applications are anticipated before the end of the year. In an effort to compete in international markets, industry officials stated that projects that were approved under ISM 1.0 will now aim to establish a local supply chain to acquire minerals, chemicals, and gases locally.

    The government is attempting to bring its foreign suppliers of essential materials, like chemicals and gases, to India, according to an executive in charge of supply chain and procurement for a semiconductor company who spoke to ET. In order to respond to consumer demand and shorten turnaround times, it is essential to have local suppliers who can offer prompt assistance.

    ATMP and OSAT – Industry’s Growing Focus

    The sector is bringing together different assembly, testing, marking, and packaging (ATMP) businesses to establish a basis, generate economies of scale, and develop a cohesive business case to submit to the government, officials noted.

    “We are examining the future structure and features of ISM 2.0. The government has made some indications. They have discussed fabless, design, and helping MSMEs. Additionally, they have discussed assisting suppliers of materials, chemicals, gas, tools, and equipment”, according to Dixon Technologies managing director Atul Lall.

    In order to transition to more sophisticated OLED displays, the contract manufacturer intends to establish a display fabrication unit for LED panels. Dixon has not yet found a technological partner, indicating that the idea is still in its early stages. If approved, the $3 billion investment needed to put up the fab might be subsidised under ISM 2.0. Ten significant projects under ISM 1.0 have been authorised by the government, almost using up its INR 65,000 crore investment.

    Companies setting up semiconductor wafer fabrication units, display fabrication units, compound semiconductor manufacturing units, and outsourced semiconductor assembly and test (OSAT) and ATMP packaging units were given financial support equal to a flat 50% of the project cost.

    Commenting on the development, Manu Iyer, Bluehill VC stated, “In scaling terms 180 nm is about four to five generations older than the 40 nm class used by many commercial microcontrollers, with the typical progression being 180 to 130 to 90 to 65 to 40 nm. For broad commercial use-cases in IoT or automotive sectors this chip is not competitive. On 180 nm the same compute typically needs about twenty times more die area than a 40 nm class microcontroller unit.”

    “This means a larger die, fewer chips per wafer, higher power use, and higher unit cost. The right near term positioning is clearly aerospace and related low volume defense or scientific platforms, not general purpose consumer or automotive markets. The generational gap also explains ecosystem gaps, since newer nodes bring denser memory and peripherals, lower operating voltages, and mature certification paths that are common in commercial microcontrollers used in most common applications,” he added further .

    Quick
    Shots

    •Industry seeking double the funding
    compared to ISM 1.0; spending expected to cross $10 billion due to rupee
    depreciation.

    •Plans to bring suppliers of minerals,
    chemicals, gases, and tools to India to reduce import dependence.

    •Industry aligning on assembly,
    testing, marking, and packaging to scale domestic capacity.

    •Dixon Technologies exploring a $3B
    display fab for OLED panels, may qualify for ISM 2.0 subsidies.

  • GST Cut to Drive Immediate Growth in FMCG, Auto and Electronics Markets

    As the final tax slabs were revealed on September 4, consumption stocks, which had already surged since Prime Minister Narendra Modi announced a reduction in the goods and services tax (GST) in his Independence Day speech on August 15, continued to rise.

    The Nifty FMCG index has increased 4.4% since August 15th, while the Nifty 50 has increased 0.7%. Analysts anticipate that the surge will continue, supported by solid volume growth that may contribute to higher profits. However, the effects won’t only be felt in industries with high levels of consumption. According to experts, the GST drop will have an impact on logistics, banks, non-banking financial corporations (NBFCs), and other sectors that are dependent on consumer demand.

    Puneett Kumar Kanojia, Founder, BollyBites VadaPav (Bollybites Foods Pvt. Ltd.) said, “The GST cut is a positive move that will especially benefit FMCG and food service businesses, including fast-growing categories like QSRs and street-food brands. In India, affordability drives consumption, and even a small reduction in effective prices can lead to higher footfall and repeat purchases. For food startups and quick-service outlets, this will not only ease pricing pressure but also enable us to pass on the benefit directly to customers, thereby strengthening consumer sentiment. Lower tax outflow also improves working capital for small and mid-sized players, allowing more reinvestment in quality, innovation, and expansion. Overall, the GST cut will act as a strong consumption booster, with ripple effects across the supply chain—right from raw material suppliers to the end consumer—ultimately supporting both growth and formalization in the sector.”

    The GST Council streamlined the system on September 3rd, lowering slabs to 5% and 18% while keeping the charge at 40% for luxury and sinful items. Most categories moved to lower rates, while the 12% and 28% brackets were eliminated. Additionally, taxes on a number of necessities and staples were lowered from 18% to 5%.

    Commenting on the development, Hiren Shah, Managing Director, Jyoti Global Plast Ltd. stated, “The GST Council’s reforms consolidating into two slabs of 5% and 18% alongside targeted reliefs for drones and simulators, mark a strategic inflection point for advanced industries. The sharp cut to 5% GST on unmanned aircraft and IGST exemption for simulators directly reduces costs for defence and aviation ecosystems, encouraging wider adoption and domestic manufacturing.”

    “For plastics and packaging, harmonisation under the 18% slab simplifies compliance while lowering cascading effects across supply chains. The quicker registration process and seven-day refund window offer a strong boost to exporters, particularly in specialty chemicals and advanced materials, where working capital cycles are often stretched. Collectively, these reforms support scale, innovation and competitiveness across sectors critical to India’s industrial future, and we are ready to leverage our manufacturing expertise and scale to partner with emerging sectors,” he added.

    How Lower GST Will Boost Auto and Electronics Demand

    Reduced costs won’t encourage households to purchase more soap, oil, or shampoo, according to analysts; thus, the impact on necessities will be minimal. Discretionary items will get a greater boost.

    While the demand for FMCG is comparatively inelastic, additional purchases may be prompted by a cheaper television or automobile. The demand increase would not be substantial for FMCG companies, but customers would choose to purchase well-known brands over less expensive ones because of their superior pricing, which would be advantageous to the listed FMCG companies.

    The budget’s income tax cuts, a robust monsoon that boosted consumption in rural areas, and the recent GST cut all suggest a prosperous holiday season.

    “The government’s decision to retain the 5% GST rate for EVs is a welcome move, as it reinforces its confidence in the industry irrespective of the segment. This continued policy support ensures that EVs remain the most tax-favored category, across both mass-market and premium offerings, allowing them to compete on the basis of technology, performance, and convenience. At the same time, the reduction in GST on ICE two-wheelers under 350cc to 18% is a balanced step that will make mobility more accessible and give the broader auto industry a healthy boost. Together, these reforms signal a positive and inclusive approach to strengthening India’s automobile ecosystem,” said Dinesh Arjun, CEO ,Cofounder, Raptee.HV

    Investor Outlook Ahead of Festive Season

    Investors’ recognition that reduced GST rates directly translate into better demand forecasts across consumption-linked sectors is reflected in the market’s positive reaction. As the holiday season draws near, financial institutions anticipate that “festive demand should see a positive boost” but caution about “some negative demand impact in September”.

    The anticipated increase in consumption can have a multiplier effect on overall economic growth. According to analysts, the key will be how quickly businesses pass the advantages on to customers. If done correctly, this step will boost spending and sentiment.

    The fact that these reforms cover everything from everyday necessities to expensive purchases explains why investors see this as a structural change rather than a short-term stimulus, which supports the widespread market rally in industries as diverse as FMCG, insurance, white goods, cement, and automobiles.

    “GST 2.0 represents one of the largest reforms in taxation since the initial introduction of GST in 2017. Its implications for India’s MSMEs could be revolutionary. For many years, small companies suffered from overly complex tax structures, delays in refunds, and compliance burdens that consumed time and working capital. The new dual slab of 5% and 18% provided clarity on the classification issue and invoicing however; we are working to ameliorate classification issues,” opined Mukesh Pandey, Director of Rupyaa Paisa.

    Adding further, he said, “For MSMEs this could mean less legal battles, higher efficiency and increased buyer demand as several products are now more affordably classified. India’s 6.4 crore MSMEs employing more than 11 crore people are the engine of our economy. If GST 2.0 is implemented effectively, it will not only lower the cost of compliance, but improve competitiveness and have small businesses better positioned to succeed domestically and internationally.”

    Quick Shots

    •Since PM Modi’s
    Independence Day speech (Aug 15), Nifty FMCG up 4.4%, Nifty 50 up 0.7%.

    •Boost expected in
    FMCG, autos, electronics, logistics, banks, and NBFCs.

    •Minimal impact on
    necessities (soap, oil, shampoo); stronger demand for discretionary items
    (cars, TVs, electronics).

    •Lower GST may push
    consumers toward premium FMCG brands over cheaper alternatives.

  • UK and India Sign £6 Billion Free Trade Agreement After 3-Year Talks

    A trade deal worth an estimated £6 billion was signed by Keir Starmer and his Indian counterpart, Narendra Modi. The UK prime minister hailed the momentous accord as a “historic day” for Britain and India.

    Following more than three years of negotiations, the trade agreement will significantly lower tariffs on automobiles and whisky sent by British companies to India in exchange for Britain opening up its labour market to Indian workers.

    The bilateral agreement, which will reduce the average tax on Indian imports from Britain from 15% to 3%, is regarded as one of the most beneficial of its kind to the UK economy. It is anticipated that the agreement will eventually increase bilateral trade between the two nations by £25.5 billion annually.

    Key Terms of the UK-India Trade Agreement

    The agreement, which was first announced in May, will reduce about 90% of all tariffs on UK-made goods transported to India, and within ten years, 85% of tariff lines will have no trade duties at all. UK-made whisky and gin import duties will be cut in half, to 75%, right away, and then reduced to 40% over the course of the following ten years.

    In a similar vein, British automakers will have their export duties reduced from 110% to 10% over the same time period. However, similar to the UK’s previous trade agreement with the US, quotas will be imposed to limit the quantity of cars eligible for the reduced tax. Starmer praised the agreement as potentially having “huge benefits to both of our countries” during a press conference held at Chequers, the prime minister’s opulent country home.

    He added, “The UK-India deal is now signed, sealed, and ready to be delivered.” “I’m really pleased and privileged to welcome you here today on what I consider to be a historic day for both of our countries and the delivery of the commitment that we made to each other,” he said.

    Labour Mobility and Payroll Tax Controversy

    However, political rivals have cautioned that a deal to eliminate employer national insurance for Indian employees in the UK and vice versa runs the risk of undercutting British employees and eroding any financial gains.

    The agreement will exempt British companies from paying payroll taxes on Indian employees who transfer within the UK, raising concerns that, in light of the April increase in UK national insurance, hiring Indian employees would be more desirable than hiring UK employees.

    Financial Sector Left Out of Trade Gains

    Although both nations committed to keep working to reduce economic barriers to the city’s linkages with the quickly expanding Indian economy, the accord has also come under fire for failing to make any headway in the UK’s world-class financial and professional services industries.

    “This isn’t just paving the way for economic partnership but also a blueprint for our shared prosperity,” Modi remarked as he stood next to Starmer. The agreement marked “the dawn of a new golden era in the relationship between these two vibrant nations,” according to Amarjit Singh, founder and CEO of the India Business Group.

    “This partnership goes beyond conventional ideas of trade in today’s more interconnected yet complex global landscape; it embodies a collaborative effort to shape a sustainable and prosperous future together,” he continued. “It is now the business community’s responsibility to take advantage of these opportunities and implement the framework in tangible ways.”

  • India Ranked Second in Terms of Digital Skills Required for Jobs of the Future

    According to the QS World Future Skills Index, India came in second place for the digital skills needed for the employment of the future. With its headquarters in London, Quacquarelli Symonds (QS) offers advice and insights to students for institutions of higher learning. Nunzio Quacquarelli, the founder and CEO of QS, stated in a post on X that India is ranked fourth in terms of AI and green skills indices and second in terms of digital skills.

    Reacting to this development, Giridhar LV, CEO and Co-founder, Nuvepro Technologies stated, “India’s ranking as second in digital skills demand underlines the transformative potential of our workforce. Yet, the gap between what academia delivers and what industries require remains a pressing challenge. At Nuvepro, we believe skills, not just credentials, define readiness and we champion a shift from degree-focused learning to skill-based empowerment. Our hands-on learning approach ensures individuals are not just academically prepared but truly project-ready, enabling them to contribute meaningfully to the future of work and the digital economy.”

    PM Applauding the Development

    “Our Government has worked on strengthening our youth over the last decade by equipping them with skills that enable them to become self-reliant and create wealth,” Prime Minister Narendra Modi stated in response to his post. Additionally, the Indian government has used technology to establish India as a centre for enterprise and innovation. As the nation progresses towards prosperity and youth empowerment, the prime minister went on to say that the QS World Future Skills Index’s observations are invaluable. Using four criteria—skill fit, future of work, academic preparedness, and economic transformation—the index evaluated over 190 nations. In terms of digital skills, which fall under the “future of work” criteria, India came in second.

    Scaling High on Future of Work Indicator

    In the “future of work” indicator, the nation received a score of 99.1 out of 100. The future of work score, according to QS, evaluated the abilities that are primarily stressed in international job postings. Digital, AI, and green competencies were among the competencies. According to QS’s report, this score was obtained by using its proprietary skills taxonomy to analyse more than 280 million job ads worldwide. According to the report, more than 9,500 emerging skills were found and compared to traditional skills, giving employers a clear picture of how highly they value future-orientated skills in the global labour market.

    Overall Performance of the Country

    India, however, came in at number 25 with an overall score of 76.6 out of 100, lagging behind nations like the US, UK, and Canada. It is important to remember that the Indian government is promoting upskilling through initiatives like Digital India, Skill India, and Skill India Digital (SID). SID is a platform that offers job opportunities, entrepreneurship support, and industry-relevant skill development courses. It was launched in 2023. In 2015, Digital India and Skill India were introduced. In order to make India a digital-first economy, the government has also introduced India Stack, a collection of digital technologies. Among other things, it contains DigiLocker, eKYC, the Account Aggregator Framework, and UPI.

    India’s positioning in the QS World Future Skills Index demonstrates its increasing capacity to train a workforce that is prepared for the future. The country’s dynamic economy, strong educational system, and demographic advantage make it a strong competitor in the global labour market, despite ongoing issues in innovation and sustainability.

    NCLAT Considers WhatsApp and Meta’s Plea Against CCI Penalty
    NCLAT acknowledges WhatsApp and Meta’s arguments challenging the CCI-imposed penalty, marking a key development in the antitrust case.
    StartupTalkyNitin Konde

  • Everything about Mudra Loans | How to Apply for Mudra Loan?

    The increase of startups and the interest of young entrepreneurs to start their businesses has led to many schemes introduced by the Government of the country. Several opportunities are given, to pursue the dream of being an entrepreneur to the interested people. Out of so many schemes, one of them is Mudra Loan.

    Mudra loan or the Pradhan Mantri Mudra Yojana (PMMY) scheme was launched in 2015 by the Prime Minister of India. MUDRA, which is short for Micro Units Development and Refinance Agency, provides loans up to Rs. 10 Lakh to the non-corporate and non-farming small and micro-enterprises. This also includes enterprises involving allied agricultural activities.

    It is known globally that Indians have a great creative and innovative mind, however the majority of them are unable to convert these ideas into profitable businesses due to financial reasons. This is common in almost all the different sections of society. PMMY was mainly to encourage everyone to try and implement their ideas.

    What is Mudra Loan?

    In 2013, it was found that there were around 5.77 crore micro and small enterprises in India and about 60% of these were owned by backward classes. These units cannot be covered by the formal loan lending sectors. This means that they might have to depend on informal lending sectors which can lead to a lot of issues or manage with their own funds. The Mudra Loan scheme is to support young, budding entrepreneurs and also existing businesses to expand and experiment with their ideas. This is much more secure and the rate of interest is not very high.

    The Schemes Under Mudra Loans

    Mudra loans have several schemes under them and they are:

    Shishu

    This is when the amount required by the borrower is less than INR 50,000. This is usually given to entrepreneurs in their early stages. This is basically a working capital term loan. There are a few things that are checked in this case. The checklist here includes the Machinery quotations and the details. The machine details have to be provided perfectly well. The borrower should also provide all the details that the banks ask for. This might include the details of the supplier. This is basically for startups.

    Kishor

    This covers loans from INR 50,001 to 5,00,000. This is not for beginners but already established businesses when they want to expand their business operations. In this case, they might require tax returns. The lender needs to know all the details of the company. It is also required to submit the balance sheet for the last 2 years, the estimated balance sheet for 1 year, MOA and AOA, and the sales made before the company applied for the loan in the Financial year.

    Tarun

    This is another scheme that covers loans from INR 5,00,001 to 10,00,000. This is when the business owner meets certain preset conditions. The required documents and details are similar to that of Kishor but there are a few other proofs that are to be included. This includes the caste certificate, Address proof, Identity proof, and other essential documents. The loans are approved only if all the documents are perfect and none of the documents is missing or faked.

    Who Can Borrow Mudra Loans?

    Mudra Loan Schemes encourage women
    Mudra Loan Schemes encourage women

    There are various enterprises that can borrow under the Mudra loans scheme. This includes individual business entities, partnership firms, public companies, private companies, Proprietary firms and so on. Also, to be eligible to borrow this, the applicant should have a proper credit track record. The proposed activity is properly studied and based on that, the lender might ask for educational qualifications and other basic requirements.

    The borrower will be eligible if he submits all the documents and has all the basic requirements listed by this scheme.

    Sectors Covered Under Mudra Loans

    • Food product sectors
    • Textile
    • Transport and transport activities
    • Community, personal service and social activities.
    • Activities allied to farming and agriculture.
    • Finance for the equipment in micro-units.
    • Business loans for shopkeepers.

    Features and Benefits of Mudra Loans

    The key benefit of this scheme for borrowers is that they do not need to show collateral or security. Also, there is no processing fee for this. Also, there is no minimum amount that you need to borrow. It can be used for various purposes like expansion, modernization, machine purchase, renovation, etc. There is no processing fee involved. Only in the case of the Tarun loan, 0.5% of the loan amount is charged as the processing fee. Mudra loan can also be availed online and the repayment period lies between 3 and 5 years, depending on various factors. The interest percentage for Shishu is nil and for the other 2, it is 10%. Also, the age of the borrower must be above 18 and below 65 years to avail of Mudra loans.

    Steps To Apply For Mudra Loans

    It is very easy to apply for Mudra loans. You have to have all the necessary documents.

    • Step 1: Check what are the documents necessary for the amount you need and keep all the documents ready.
    • Step 2: Approach a financial institution. This loan is available in almost all renowned financial institutions. You can approach any one of them or even check their website out for details. Make sure to check if the financial institution is registered under the Mudra scheme.
    • Step 3: The next step is to fill out the application form carefully. Almost all the details like personal and business details. The documents have to be attached. Mention the amount you might need. There are different forms for Shishu, Kishore and Tarun. Choose the right form and keep the documents in hand while filling out the form.
    • Step 4: Wait for approval. Once the loan is approved, you will receive the Mudra card. You can use the card to draw the money you need.

    This is the set process in almost all approved financial institutions. It is safe and secure.

    Conclusion

    Small businesses and entrepreneurs can go for a Mudra loan as it is easy to get approved and also it will help them get the first capital for their company. Since there is no collateral or security required, it can be availed by anyone satisfying the criteria. This serves as an encouragement for youngsters with an idea to get basic funding for their business idea and hence they will be able to put their idea into practice. This is available in various institutions and also can be dealt with online. This makes the entire process much easier than it is. The only major criteria are that all the documents to be submitted must be perfect and the borrower should be within the specified age limit.

    FAQs

    Who introduced Mudra Loan?

    Prime Minister Narendra Modi introduced the Mudra loan.

    When was Mudra Yojana announced?

    The Mudra Yojana was announced on 8th April 2015.

    How much loan is provided by Mudra Yojana?

    Mudra Yojana provides loans of up to INR 10 Lakhs to borrowers.

  • Garib Kalyan Rozgar Abhiyan – Scheme to Provide Employment to Millions of Migrant Workers

    With the Economy of India badly affected due to the COVID-19 pandemic add the loss of jobs for lakhs of migrant workers during the lockdown, a scheme by the name of ‘Garib Kalyan Rozgar Abhiyan‘ or ‘Rural Job Scheme’ was launched by the Honourable Prime Minister of India, Narendra Modi in the district of Bihar on 2oth June 2020 to cope up with this problem. The scheme will support migrant workers and other rural workers by giving them jobs and livelihood support. The scheme was launched by the PM via video conferencing. The Chief Minister of Bihar, Nitish Kumar was also present at the video conference when the scheme was launched.

    After the scheme was launched, Nitish Kumar informed the PM that he interacted with the migrant workers who came back to their homes in Bihar during the lockdown. He said that the workers now want to work in Bihar only and do not want to leave as migrant workers to other states. He also said that the scheme will be greatly beneficial for these workers and that it is a gift from the Central Government to them. He also promised to include these workers in other schemes of the Bihar State Government.

    How the Scheme Came Into Existence?
    What Will the Garib Kalyan Rozgar Abhiyan Provide?
    Benefits of Garib Kalyan Rozgar Abhiyan

    How the Scheme Came Into Existence?

    Prime Minister, Narendra Modi interacted with some of these migrant workers and tried to understand the problems that they are currently facing. According to Prime Minister Modi, he got the idea from migrant workers that were quarantined in a school building in Unnao, Uttar Pradesh. Instead of wasting their time, they utilized their skills and painted the whole school as an act of gratitude. The PM addressed all the migrant workers of Bihar and informed them that they will be getting jobs in their own state under the scheme, and urged them to use their talents and skills for taking their villages forward and for the overall development of Bihar.

    PM Modi Launches Garib Kalyan Yojana

    What Will the Garib Kalyan Rozgar Abhiyan Provide?

    The scheme will provide 125 days of employment under 25 sub-schemes to the migrant workers of 116 districts. These 116 districts are spread across 6 states including Bihar. The other states are Uttar Pradesh, Rajasthan, Madhya Pradesh, Jharkhand, and Odisha. The scheme aims to provide guaranteed employment to about 6.7 million migrant workers.

    The scheme will mainly focus on the development in rural areas. It will contain projects such as the building of roads, the building shelters for animals, drinking water supply, house constructions, the building of community toilets, and more in which the workers will be employed. The scheme has been launched with a budget of ₹50,000 Crores which is roughly half the budget for the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), previously known as the National Rural Employment Guarantee Act (NREGA) which aims to provide 100-day employment to almost 140 million workers of rural areas. Some of the state governments have requested to increase the employment period to 150 days to provide jobs to many workers who have returned to their native places all over the country amid the lockdown. In 2021-2022 the budget of th scheme increased and become ₹98,000. In 2022, total 3.62 billion person days of work were provided.
    The MGNREGA has seen a sharp rise in the number of people applying for jobs since May, the reason that many people have lost their jobs due to the lockdown. The new ‘Rural Jobs Scheme’ or the ‘Garib Kalyan Rozgar Abhiyan’ will help overcome the unemployment in rural areas to a large extent. This scheme will also give a boost to the Indian economy which is currently at a standstill. It will help many workers by giving them employment in their own states.

    Benefits of Garib Kalyan Rozgar Abhiyan

    Some of the benefits of Garib Kalyan Roazgar Abhiyan schme are:

    • It will create employment opportunities for migrants.
    • It will create good infrastructure and the rural area will experience developement.
    • There are number of different works that are given to the workers according to their skill and they will have employment for 125 days.
    • The rural livelihood will experience a development with the help of the scheme.

    FAQs

    When was Garib Kalyan Rojgar Abhiyaan launched?

    Garib Kalyan Rijgar Abhiyaan was launched in 20 June 2020.

    Who launched Garib Kalyan Rojgar Yojana?

    Prime Minister Narendra Modi launched the Garib Kalyan Rojgar Yojana.

    What is Garib Kalyan Rojgar Yojana?

    Garib Kalyan Rojgar Yojana is a scheme that will provide migrants and rural workers with job or livelihood for 125 days.

  • What is e-RUPI and How it will benefit Businesses in India?

    We have witnessed many digital payments for paying off our expenses via Google Pay or PhonePe. Additionally, Our Honorable Prime minister Narendra Modi has launched e-RUPI, a seamless cash payment for Covid-19 Vaccination in India on 2nd August 2021.

    e-RUPI is a contactless digital payment solution that is done by a QR Code or SMS based e-Voucher to all mobile users. Over and Above, e-RUPI is an e-voucher one-time digital payment mode with three benefits- Cashless & Contactless digital payment, Ensures leak-proof delivery of various welfare services and connects the beneficiaries servers without any intermediaries involvement.

    e-RUPI is introduced as a hassle-free e-voucher digital payment, where beneficiaries don’t need a card, digital app or even internet banking to redeem the voucher. Because it is done through e-RUPI where vouchers are transferred into QR Scan or SMS for an effortless method to endure the service of the voucher.

    How does e-RUPI work?
    How will Businesses benefit from e-RUPI
    FAQ

    How does e-RUPI work?

    e-RUPI is a cashless and contactless digital payment mode, which is done by decoding the code of the cards which is shared via SMS or the QR code. e-RUPI is the first digital currency in India with an aim to spurn the leakages in Government. It is done via redeeming payments through e-vouchers that are in the form of QR codes or SMS.  

    Many Indian Citizens find it so difficult to pay spontaneously on any such expenses, For instance, if you are in a line and billing for those products and getting a physical form voucher on the product which you have bought.

    Meanwhile, next time on availing the voucher services, you find dilate in processing the payment neither in swiping card nor digital payments app. Therefore, the National Payments Corporation of India along with the department of financial services, National Health Authority developed e-RUPI in order to meet the expenses through e-vouchers in the nature of the prepaid model. So, if you receive a voucher then automatically you can store it in an electronic form- QR code or SMS-based.

    When it comes to who can use e-RUPI, as it is said above, the government makes these e-vouchers in order to create funds for other welfare services. So, ultimately e-RUPI is accessible for healthcare services. Furthermore, businesses or corporations can issue e-RUPI to their employees.

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    How will Businesses benefit from e-RUPI?

    e-RUPI doesn’t only benefit the receivers of the token but also the corporates and hospitals. The beneficiaries of this digital payment system include all the major stakeholders relating to this scheme.

    Corporates

    According to the National Payments Corporation Of India (NPCI), the corporates will benefit largely from this scheme. They can look after the welfare of their employees. The corporates would benefit from cost reduction while using this digital payment as this works on end-to-end digital transactions and doesn’t require physical issuance.

    The issuer being corporates can track the voucher redemption. During this global pandemic, everything has made us focus on the safety of our lives. This digital payment mode allows for quick, contactless and safe voucher distribution.

    Hospitals

    It is a difficult task to stand in long queues in hospitals and pay for the service as it takes time to use a card or cash. This can lead to major inconvenience during these times. So the NPCI has made the authorization of these vouchers easy and safe by doing it using a verification code.

    e-RUPI also solves the problem of usage of cards or cash by making the payment collection hassle-free and contactless. The redemption process of the e-RUPI is quick as it can be redeemed in a few steps and the chance of decline rate is less as there is a pre-blocked amount.

    End-Users

    e-RUPI, the electronic voucher digital payment system is mainly made for the welfare and well-being of the people of the country. The official NPCI website lists the various benefits the consumer of the end-user of the e-RUPI will reap.

    This payment is contactless and digital. The beneficiary shouldn’t carry a printout of the voucher. The consumer can redeem his voucher in a two-step process making it easy, quick and time-saving.

    The beneficiary isn’t required to share personal details on the redemption of the vouchers making it a safe and secure form of payment as privacy isn’t compromised.

    For the redemption of the vouchers, the consumer does not need a digital payment app or a bank account making it accessible to many who don’t have a bank account.

    Banks are supported by e-RUPI

    e-RUPI is launched by NPCI in association with the Department of Financial Services (DFS), National Health Authority (NHA), Ministry of Health and Family Welfare (MoHFW) and partner banks.

    Banks support e-RUPI, unlike other digital currencies making this voucher digital payment mode easy and trustworthy. The banks that support e-RUPI are Axis Bank, Bank of Baroda, Canara Bank, HDFC Bank, ICICI Bank, IndusInd Bank, Indian Bank, Kotak Bank, Punjab National Bank, State Bank of India and Union Bank of India.

    Conclusion

    e-RUPI is an initiative by the government in connecting people’s lives through technology. India is progressing to a transparent and digitalized country. e-RUPI as a replacement for cash is seen as a big step that is favorable and necessary in the growth of the country.

    e-RUPI guarantees safety as people do not have to carry cash or be worried about losing their cards while trying to avail themselves of essential services. e-RUPI can also route the subsidies the government gives on education, agriculture and nutrition. e-RUPI if worked effectively can be helpful to the people of the country in their dire times.

    FAQ

    What is e-RUPI?

    e-RUPI is an electronic voucher digital payment mode, where the physical form of a voucher is transferred into electronics like QR Code or SMS-based, where you can access the services without any card or internet banking to redeem it.

    Who launched e-RUPI?

    The National Payments Corporation of India along with the department of financial services, National Health Authority developed e-RUPI which was promulgated by Prime Minister of India Narendra Modi to the citizens on 2nd August 2021.

    What are the benefits of launching e-RUPI?

    The government of India launched e-RUPI because to serve the beneficiary services to welfare services such as Mother & Child health care, Ayushman Bharat Pradhan Mantri Jan Arogya Yojana and other welfare centres, where the e-voucher become a benefit element in extending much more purpose in the society.

  • What is Vehicle Scrappage Policy | How Startups will Benefit from Vehicle scrappage policy

    We all have had our own share of episodes of looking at rusty, old, vehicles covered in black, dense smoke bumbling past us, and we remarking, “how did it get past the usual security checks and roam about freely?”

    Well, this is how things used to be on the Indian roads where we could name a brand new Mercedes or a BMW and a polluting, dilapidated truck or van in the same breath.

    Out of the total air pollution that the Indians suffer from, a massive 27% of it is caused by vehicular emissions. Though a number of companies including Ola, Reliance, Tata, and others have started stressing about eco-friendly ways and have embraced Green Marketing to change the way how the industries and the vehicles run, we are yet to triumph over our greatest enemy, pollution.

    However, with the new vehicle scrappage policy that PM Narendra Modi announced on Friday, August 13, 2021, the Indian government aims to get rid of all the unfit and polluting vehicles as a stern measure to suppress vehicular air pollution.

    What is the Vehicle Scrappage Policy?
    Automobile Scrappage Policy Guidelines
    When will the scrappage policy start to come into effect?
    Main Objectives of the Vehicle Scrappage Policy
    What will the new Vehicle Scrappage Policy bring in?
    How will the Indian Vehicle Scrappage Policy Benefit the Startups of the Country?
    How will the National Automobile Scrappage Policy Benefit the Common Man?
    FAQ

    What is the Vehicle Scrappage Policy?

    Scrapping means “to throw away or get rid off” and the new scrappage policy is formed around the same idea.

    The vehicle scrappage policy, as announced by the Prime Minister of India at the Investor Summit in Gujarat, revolves around the idea of phasing out all the vehicles from the Indian roads, which are polluting and deemed as unfit.

    Here’s what Narendra Modi has remarked via his Twitter handle:


    Automobile Scrappage Policy Guidelines

    The scrappage policy for the automobiles of the country lists some guidelines following which the vehicles will be scrapped.

    On this, Union Minister Nitin Gadkari mentioned that according to the newly launched vehicle scrappage policy, the commercial and personal vehicles will be scrutinized, which are over 15 years and 20 years old, and will be scrapped if they fail to pass a government-imposed test. “They will be seized and destroyed,” added Gadkari.

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    When will the scrappage policy start to come into effect?

    The automobile scrappage policy will be coming into effect from April 2022, starting with the vehicles owned by the Indian government and its allied entities like the PSUs.

    Next, the government will consider mandatory testing for heavy commercial vehicles, which will start in April 2023. Finally, the testing will also include vehicles belonging to all other categories, which will come into effect from June 2024.

    Main Objectives of the Vehicle Scrappage Policy

    Among the main objectives of the vehicle scrappage policy, the reduction of air pollution is the primary goal that the government is looking forward to attaining.

    Reducing the Pollution caused by the Vehicles

    The main objective of the vehicle scrappage policy is to oust the polluting vehicles and lessen the overall vehicular pollution to the minimum. This will be a great help towards promoting a circular economy for the country.

    Creating Employment for the Indians

    The scrappage policy of vehicles would be a major project to undertake for the government of India in the upcoming years, the new scrappage policy would attract investments worth Rs 10000 crore.

    This will not only be a project for the government workers but will be a massive employment opportunity for the youngsters, poorly employed, and the unemployed section of the country.

    Encouraging Circular Economy in India

    A circular economy can be defined as a systemic approach to economic development, which will further benefit businesses, society, and the environment at large.

    The circular economy, as hinted by Modi, is regenerative and sharply contrasts the “take-make-waste” linear model, which further strives to rely less on the consumption of non-renewable resources.

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    What will the new Vehicle Scrappage Policy bring in?

    The vehicle scrappage policy strives to phase out the above-mentioned vehicles in an environment-friendly manner. Therefore, the whole initiative ensues the establishment of scrapping infrastructures like Automated Testing Stations and the setting up of Registered Vehicle Scrapping Facilities.

    How will the Indian Vehicle Scrappage Policy Benefit the Startups of the Country?

    According to Narendra Modi’s nationwide video conference, which also had Nitin Gadkari, Minister for Road Transport and Highways, the Prime Minister has also announced that the Indian government is also willing to collaborate with the budding companies or the startups, which is expected to be a significant boost to the pandemic-struck startup ecosystem.

    How will the National Automobile Scrappage Policy Benefit the Common Man?

    Along with benefitting the startups and the unemployed, the scrappage policy will also greatly benefit the common man. Here’s how it is a win-win situation for them:

    • For all the scrapped vehicles the vehicle owners will receive a certificate to testify their scrapped car. Furthermore, the government will ensure that they will not have to pay registration fees when they buy a new car.
    • They will also receive tax benefits, which would include a discount on road tax. This way it would act as an incentive for scrapping an old vehicle.
    • The old vehicles would be seized for the person, which might seem to be a loss but actually would be profitable for the particular person. If one possesses an old vehicle, he would have to spend money on the maintenance costs, repair cost, and fuel efficiency of the old car, which he/she would be spared from.
    • The owners of the old vehicles would be eligible for the best price for car scrappage for all the workable parts like the tires.
    • Lastly, they will be eligible to buy new and advanced vehicles, which will be safer for their upcoming journey.

    FAQ

    What will happen to the vintage vehicles?

    According to the scrappage policy of the Indian government, it will scrape all the old cars except the vintage automobiles. Gadkari mentioned that no such guidelines have been formed for vintage vehicles as of now, adding they will also regulate the vintage vehicles with the upcoming list of guidelines.

    What will the incentives that the scrappage policy will entail?

    The vehicle scrappage policy will offer incentives for the owners of the scrapped vehicles. Once their vehicles are scrapped, they will be issued relevant certificates for the same. The old vehicle owners can show these certificates whenever they decide to purchase a new vehicle and can get up to a 25% rebate on road tax.

    Will there be a GST Rebate for the scrapped vehicle owners?

    According to the policy, it has been decided by the government that whenever a scrapped vehicle owner will go for a new purchase, he/she will be allowed a 5% discount on the basis of the certificate issued for their scrapped vehicle. Gadkari has further mentioned that he has also requested the Finance Minister to grant a GST rebate for them, which is pending approval.