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Gujarat's employment engine stalls: MSME shutdowns, zero PMEGP uptake in key districts

Gujarat's employment engine stalls: MSME shutdowns, zero PMEGP uptake in key districts

AHMEDABAD: The Prime Minister's Employment Generation Programme (PMEGP) has virtually failed in Gujarat, with not a single application from key districts like Surat and Navsari in 2024–25. A sharp 60 per cent decline in applications over five years, coupled with the closure of 7,269 small and medium enterprises, has left over 33,000 people jobless, exposing the Gujarat government's failure in translating employment promises into reality.
In a damning indicator of policy failure, Gujarat has witnessed a breakdown in the implementation of the PMEGP, particularly in major districts like Surat and Navsari, which recorded zero applications for the scheme in 2024–25. This shocking data has emerged from a central government reply in the Rajya Sabha to Gujarat MP Narhari Amin, laying bare the state's crumbling employment generation apparatus.
The collapse is not isolated. PMEGP applications have plummeted from 19,654 in 2020–21 to just 7,793 in 2024–25, a drop of over 60 per cent, clearly revealing that Gujarat's youth are losing faith in the scheme. Even in tribal districts where the scheme was meant to be a lifeline, the numbers are alarming: only seven applications in Dang and Mahisagar, 16 in Chhota Udepur, and just two in Narmada.
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Govt's bid to reform ship ownership and registration through new Merchant Shipping Bill wins Parliament backing
Govt's bid to reform ship ownership and registration through new Merchant Shipping Bill wins Parliament backing

Time of India

time14 minutes ago

  • Time of India

Govt's bid to reform ship ownership and registration through new Merchant Shipping Bill wins Parliament backing

Advt Advt By , ETInfra The Rajya Sabha on Monday passed the new Merchant Shipping Bill , clearing the decks for the government to overhaul a more than six decades old law governing the nation's shipping sector that had restrictions on registering ships under the Indian flag and stalled Bill was passed by the Lok Sabha last week and when signed into law by the President, it will facilitate reforms relating to ownership of ships that can be registered in India, a step that is aimed at boosting India's below par shipping tonnage The passage of the Merchant Shipping Bill is the latest in a series of initiatives taken by the Narendra Modi-led government to overhaul old legislation and rules relating to the maritime sector and bring them up to date with modern day Bill seeks to promote ease of doing business in the maritime sector, increase India's tonnage, strengthen the country as a bankable shipping jurisdiction, enhance welfare of Indian seafarers, improve adjudication and predictability of will help expand the ownership criteria of Indian vessels, allowing Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs), joint ventures and body corporates to make investments in India and own vessels under the Indian will facilitate registration of a foreign vessel chartered on a so-called bareboat charter cum demise (BBCD) contract by an Indian is a form of financing ship acquisition, whereby the purchase is typically done by paying one-fourth of the total cost of the vessel as down payment while the balance is paid in instalments over the demise period, typically ranging from three-five a BBCD ship is allowed be converted to an Indian flag ship only when the last instalment is paid to the overseas owner. Till then, it flies the flag of the jurisdiction where it is Ministry plans to permit ships acquired through the BBCD route to be registered even before the last instalment is paid.'These reforms are aimed at encouraging investors, including smaller investors, to make investments in the shipping sector by way of ownership or joint ownership, resulting in increasing the Indian tonnage,' said Sarbananda Sonowal, Union Minister of Ports, Shipping and allows registration of Indian flagged vessels without the need to visit Indian Bill enables electronic means of registration, and grants statutory recognition to electronic agreements, records, and logbooks, in addition to electronic licenses, certificates and payments. The Bill also includes an enabling provision to notify an electronic database for inspections and conducting inspections based on ship risk profiles attributed to ships, thereby creating an efficient Port State Control and coordinated inspection measures are aimed at increasing the country's shipping tonnage and help tap a larger slice of international trade, a government official 2022, India was ranked 18th globally in ship owning, controlling a meagre 1.4 per cent of the global tonnage. In comparison, India's export-import (EXIM) trade is about 11 per cent of the global seaborne cargo trade, and this share is expected to rise to 30 per cent by FY20, India paid $85 billion in sea freight, of which some $75 billion was paid to foreign shipping companies, resulting in a huge outflow of foreign exchange. This is because the share of overseas cargo carried by Indian flagged vessels has dwindled from 40.7 per cent in 1988 to less than 5 per cent 2008 and 2021, the reliance on foreign fleets for hauling export-import cargo led to outbound freight charges of a whopping $637 billion, according to a document prepared by the Ministry of Ports, Shipping and of reliance on foreign fleet in geo-political situations may result in food and energy security disruptions, the document the benefits of having a robust national shipping fleet, the Ministry said it would mitigate 'supply chain disruptions and unforeseen geopolitical risks such as the COVID pandemic, Russia-Ukraine conflict and the Red Sea crisis'.It would make Indian shipping 'Atmanirbhar and globally recognized' besides enhancing the share of transport services in the export basket from 12 per India's shipping tonnage is estimated to cost some ₹55 lakh crore, according to the Maritime Amrit Kaal 2047 Vision 95 per cent of India's trade by volume and about 70 per cent by value is hauled via sea routes. A robust maritime sector is thus indispensable for realizing the vision of a $5 trillion economy and cementing India's position as a global economic powerhouse, Sonowal added.

Lok Sabha passes Income Tax (No 2) Bill: All you need to know about new ‘SIMPLE' law
Lok Sabha passes Income Tax (No 2) Bill: All you need to know about new ‘SIMPLE' law

Indian Express

time14 minutes ago

  • Indian Express

Lok Sabha passes Income Tax (No 2) Bill: All you need to know about new ‘SIMPLE' law

Income Tax Bill 2025: The Lok Sabha on Monday passed two important legislations pertaining to taxation — Income-Tax (No 2) Bill and Taxation Laws (Amendment) Bill. Of these, the Income Tax (No.2) Bill 2025 seeks to consolidate and amend the law relating to Income Tax Act 1961. The Bill will now go to the Rajya Sabha for approval and thereafter to the President for assent. It will become law once the Presidential assent is provided. The Income Tax (No.2) Bill 2025 will replace the Income Tax Act, 1961. Earlier in February, Finance Ministry said that the new bill reflects the government's commitment to enhance ease of doing business by providing a tax framework that is simple and clear. It further added that the new bill aims to simplify the tax system for all and is built on these core 'SIMPLE' principles: The new Income Tax bill has been designed so that one can easily understand tax laws. The provisions will be rewritten in plain, easy-to-understand language. The Income-Tax Bill, 2025 has been introduced in the Lok Sabha today. The Bill aims to simplify the tax system for all and is built on these core 'SIMPLE' principles:⬇️ — Income Tax India (@IncomeTaxIndia) February 13, 2025 There should be no more confusion. The new bill will be a single, well-structured act that consolidates all related provisions. The volume is reduced without losing the spirit. The new Income Tax bill will provide more clarity with fewer tax disputes. The FAQs, guidance notes and explanations will further prevent multiple interpretations. The new law will make taxation easier to understand. It will eliminate redundant provisions and simplifies cross-references. It uses tables and structured formats for better clarity. The new Income Tax bill is a balanced and provide future-ready reforms. It will adopt global best practices from various tax jurisdictions. It will keep the country's core tax principles intact. The new law will ensure reforms that don't disturb settled tax policies. It focuses on improving efficiency. The Income Tax (No 2) Bill streamlines TDS, exemptions and other compliance-heavy provisions. It also allows individuals to claim refunds without penalty on delayed filings. It provides for 'nil' TCS on Liberalised Remittance Scheme (LRS) remittances for education purposes financed by any financial institutions, reports PTI.

Eight new coking coal washeries with 21.5 MTPA capacity in pipeline; output rises to 66.47 MT
Eight new coking coal washeries with 21.5 MTPA capacity in pipeline; output rises to 66.47 MT

Time of India

time2 hours ago

  • Time of India

Eight new coking coal washeries with 21.5 MTPA capacity in pipeline; output rises to 66.47 MT

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