&w=3840&q=100)
Globalisation must be tempered to local needs: FM Nirmala Sitharaman
Sitharaman was referring to the ethical principles that govern the North East region, one of which, she said, was the respect for kinship and community, reflecting the essence of stakeholder capitalism.
The Finance Minister stressed the need for the North East region to have better logistics, such as airlifting and warehousing facilities, to transport goods across the country with greater speed and efficiency.
'There is a lot of work yet to happen — this is my grievance and, for that, I think a lot more work has to be done. There's no way in which, by now, pineapples should have to travel by road all the way to Mumbai,' Sitharaman said.
The IICA, an organisation under the Ministry of Corporate Affairs, has set up its second campus in Shillong.
Established in 2006, the IICA functions as a think tank assisting the Ministry of Corporate Affairs (MCA) and providing capacity building for public and private sector professionals in corporate governance and public policy.
While highlighting that there are 2,300 DPIIT-recognised startups in the North-East region, of which 69 are based in Meghalaya, Sitharaman said, 'It is important that institutions like IIM Shillong help in cross-pollination, bringing all professionals together, meeting regularly. And now that IICA is here, they should become the agents of bringing people together so that greater discussions and compliance-related issues can be addressed.'
Praising the setting up of the IICA branch in Shillong, Sitharaman said that youngsters were quickly catching up with what the world wants them to do. If policy support also follows, it marks a very good stage for entrepreneurship development.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
10 hours ago
- Time of India
Admn to seek MHA approval for diversion of power savings to MC
Chandigarh: After failing to get a Rs 188 crore grant from the ministry of home affairs (MHA) for the municipal corporation, the Chandigarh administration plans to seek approval for Rs 100 crore from the MHA. Tired of too many ads? go ad free now The money being asked for is part of the Chandigarh administration's kitty, under the "Re-appropriation segment". Since the administration managed to save a significant amount of money in the power segment after privatisation of power, the Chandigarh administration plans to seek the approval of MHA to allow the Chandigarh administration to divert Rs 100 crore from the saved kitty to the MC for developmental and related works. Sources said that the proposal is in the final stages. The administration received the money, which is its own, in the current annual budget from the ministry of finance in April. The administration needs MHA approval to divert its own money to the MC, sources said. Even though the MC is trying to increase its revenue, for which it has taken multiple steps in the past few years, committed liabilities and other expenditure has increased so much that the MC needs additional funds immediately, at least once, to clear the financial backlog. The issue of the cash crunch being faced by the MC was also raised before senior officials of the MHA, who visited the city in June. Release of funds to the MC as per recommendations of the 4th Delhi Finance Commission (DFC) was also discussed. Box: Previous attempt failed This is not the first time the Chandigarh administration plans to divert the power segment amount to the MC. The administration tried to get approval for the same last year bit failed. Administrator Gulab Chand Kataria even wrote to the Union minister of finance, Nirmala Sitharaman, for allocation of around Rs 200 crore for the MC. Kataria sought funds for other segments pertaining to the Chandigarh administration too. MSID:: 123207246 413 |
The Print
13 hours ago
- The Print
Nirmala Sitharaman conferred ‘Bharata Lakshmi' title by Sri Krishna Mutt in Udupi
Sugunendra Tirtha read out the citation, praising Sitharaman for her 'integrity and dedication' as Finance Minister. Sitharaman visited the temple city to inaugurate the special 'Yali,' a traditional-style structure that surrounds the mutt. Udupi (Karnataka), Aug 9 (PTI) Union Finance Minister Nirmala Sitharaman received the 'Bharata Lakshmi' title from Paryaya Puthige Mutt seer Sugunendra Tirtha Swami at Sri Krishna Mutt here on Saturday. Visibly moved, Sitharaman recalled her first visit to Udupi in 2005, when she received a Krishna idol, which she continues to worship. She praised the 'ashta mutts' for their 'culture of service' and lauded the 'annabrahma' tradition of feeding thousands of devotees daily as a symbol of 'devotion and commitment.' Highlighting the Koti Gita Lekhana Yajna—an initiative by Puthige Swamiji to collect one crore handwritten copies of the Bhagavad Gita—Sitharaman called it a 'remarkable effort' to spread Lord Krishna's message worldwide. 'Serving human beings is serving God,' she said, adding, 'May Lord Krishna bless our country, our Prime Minister Narendra Modi, and all our people.' The honour was conferred in the presence of Vishwapriya Thirtha Swamiji of Admar Mutt. Karnataka High Court judge Dinesh Kumar was also honoured at the event. PTI COR JR SSK This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Indian Express
14 hours ago
- Indian Express
EPFO Face Authentication norms: Staffing companies flag issues with implementation of new rules for UAN generation
With the Employees' Provident Fund Organisation (EPFO) having made face authentication mandatory for new UAN generation, staffing companies have flagged the hurdles in implementing the new norms that could result in payroll disruption and impact hiring. In a representation to the EPFO head Ramesh Krishnamurthi on August 5, the Indian Staffing Federation (ISF) — the industry body of organised contract staffing companies representing over 1.8 million contract workforce employed across 135 companies — said that one major issue is that the mobile numbers of many members are not linked to their Aadhaar cards, causing challenges in generating a FAT-recognised UAN. It said the candidates are not familiar with how FAT (face authentication technology) works with issues coming up as to whether their faces should be close or far to the app, or varied settings on different phone brands etc. 'The mandatory FAT requirement for member profile updates, including KYC details, necessitates individual employee participation in facial authentication. Given the transient nature of our workforce, coordinating FAT for thousands of employees across multiple locations is logistically challenging and time-consuming. Many employees lack access to smartphones or stable internet connectivity, further complicating compliance. Without UANs, salary processing and PF contributions are delayed, especially in MSMEs and high-turnover sectors,' it said. The ISF in its letter to the EPFO chief also said that over two days, members 'failed to enroll over 1,000 plus candidates due to the restrictions announced with immediate effect due to operational challenges from UIDAI' and also employers not being allowed to generate the UAN as per existing process. The new requirements for FAT pose significant hurdles for staffing companies managing large, dynamic workforces, the ISF added. What is EPFO's new FAT requirement for UAN generation? The EPFO assigns a 12-digit unique number called Universal Account Number or UAN to every employee contributing to the EPF. In April this year, the EPFO had issued a circular introducing the Aadhaar-based Face Authentication Technology (FAT) for allotment or generation and activation of UAN. On July 30, the EPFO in another missive to its field offices stated that the allotment or generation of UAN will be 'done only through the Aadhaar-based FAT' in UMANG App with effect from August 1, 2025 to ensure 'error-free generation' of UAN. It also said that the existing process of generation of UAN through the employer will continue in exceptional cases like international workers and citizens of Nepal and Bhutan. UMANG App is a single platform for Indian Citizens to access pan India e-Gov services ranging from central to local government bodies. The ISF said the restriction on employers generating UANs without immediate Aadhaar seeding, coupled with the FAT mandate, delays the onboarding process. '…due to the dependency on UIDAI to resolve changes which are time taking processes. Many candidates do not remember which mobile number is linked to their Aadhaar card. This must be updated before they can obtain a UAN,' the ISF said in a statement. The ISF said this issue needs a long-term resolution as it could 'greatly impact the hiring process for such candidates as UAN cannot be generated due to mandatory restrictions'. The ISF also suggested that the EPFO should allow employers to generate UAN for first-time employees and the compliance deadline for digital onboarding through FAT should be extended. Aanchal Magazine is Senior Assistant Editor with The Indian Express and reports on the macro economy and fiscal policy, with a special focus on economic science, labour trends, taxation and revenue metrics. With over 13 years of newsroom experience, she has also reported in detail on macroeconomic data such as trends and policy actions related to inflation, GDP growth and fiscal arithmetic. Interested in the history of her homeland, Kashmir, she likes to read about its culture and tradition in her spare time, along with trying to map the journeys of displacement from there. ... Read More
