logo
Govt relief package: 110 Surat schools submit 3,200 forms for fee assistance

Govt relief package: 110 Surat schools submit 3,200 forms for fee assistance

Indian Express6 hours ago
At least 110 schools in Surat submitted over 3,200 application forms for fee assistance — as a part of the state government relief package for diamond polishers' children — benefiting 10,921 students to the Surat District Industries Centre on Monday, sources familiar with the matter said on Tuesday. The forms will be verified by the Surat Diamond Association before being forwarded to the approval committee headed by District Collector Dr Sourabh Pardhi.
Earlier in May, the state government announced a special assistance package for the diamond industry. Under the relief package, the state government will cover the school fees of children of diamond polishers, providing an annual sum of Rs 13,500 for one year. The criteria to avail the scheme benefits include the diamond polisher being unemployed for the last year and having worked in the industry for at least three years. The government will directly pay the fees to the schools.
The diamond industry has been experiencing a prolonged period of recession for over two-and-a-half years now. The diamond polishers, along with middle and small diamond unit owners, have been facing great financial difficulty due to the reduced demand for polished diamonds in the international market. There are over 4,000 small, medium, and large diamond factories in Surat city, employing a workforce of over 5 lakh diamond workers. Out of the 10 polished diamonds found in the world, eight are cut and polished in Surat city. The majority of the workforce in the diamond industry hails from Saurashtra and other parts of Gujarat and are settled in Surat city.
Following the announcement of a special relief package by the state government, schools were instructed to make students and their parents aware of the scheme.
The school authorities had also distributed forms among the students, seeking all necessary details.
The form submission is being done in three phases, with the first phase ending on Monday, while the second and third phases are scheduled for July 7 and 23, according to sources in the Surat district administration.
On Monday, 110 schools submitted 3,200 forms to the district industries commissioner. Majority of such schools are located in Katargam, Kapodara, Sarthana, and Varachha areas in Surat city.
Surat District Industries Commissioner Jigar Dave told The Indian Express, 'We have received 3,200 application forms from 110 schools, and the number of beneficiaries is over 10,921 students'.
'We will be sending these forms to the Surat Diamond Association for verification, including confirmation of whether the applicant is actually a diamond polisher and if they have been jobless for the last year. There are two more phases left for accepting such forms. Once these forms are verified, it will be sent to the scrutiny committee, and later it will reach the approval committee headed by Surat District Collector Dr Sourabh Pardhi'.
Surat Diamond Association President Jagdish Khunt told The Indian Express, 'We are expecting more such forms in the coming days. A core committee meeting regarding the disbursement of the special assistance package will be held on Thursday'.
'We already have a staff crunch. How are we supposed to handle 3,200 forms? We will share our concerns with the committee head, the Surat District Collector. We are also preparing for our upcoming loose diamond auction event which will be held in Surat city from July 11 to 13. How will we take care of so much work?' Khunt asked.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Crizac IPO opens today: Check GMP, price band, and other details
Crizac IPO opens today: Check GMP, price band, and other details

Economic Times

time27 minutes ago

  • Economic Times

Crizac IPO opens today: Check GMP, price band, and other details

Crizac's Rs 860 crore IPO opens today with the issue entirely comprising an offer-for-sale of 3.51 crore equity shares in the price band of Rs 233–245 apiece. The IPO will close on July 4 and the company is expected to list on the BSE and NSE on July 9. ADVERTISEMENT Ahead of the issue opening, the GMP is 9% over the issue price. Incorporated in 2011, Crizac operates a B2B international education platform that connects universities from the UK, Canada, Ireland, Australia, and New Zealand with global student recruitment agents. It sources student applications from over 75 countries via a proprietary technology platform, leveraging a network of more than 10,000 registered company has shown explosive growth, with total income rising from Rs 274 crore in FY23 to Rs 849 crore in FY25 — a CAGR of 76%.PAT jumped from Rs 110 crore to Rs 152 crore over the same period, with FY25 earnings per share at Rs 8.74 and net margins of 18%. Crizac operates debt-free and has strong cash flows, indicating a healthy balance sheet. ADVERTISEMENT At the upper end of the price band, the issue is valued at a P/E of 28x FY25 earnings and P/B of 9x, placing it roughly in line with its only comparable listed peer, IndiaMART, which trades at similar multiples. The lot size for retail investors is 61 shares, requiring a minimum investment of Rs 14,945. High net-worth investors must apply for a minimum of 14 lots (854 shares), translating to Rs 2.09 lakh. ADVERTISEMENT Review: Robust fundamentals meet global growth storyAnalysts said Crizac is uniquely positioned to benefit from the sustained outflow of Indian students to foreign universities, a market expected to touch 2.5 million students by 2030. Its B2B model, focus on Tier-1 geographies, and scalable tech infrastructure make it a rare listed play in the international education facilitation space. ADVERTISEMENT However, investors must weigh the regulatory risks. The UK and Canada, Crizac's largest markets, have recently tightened student visa norms — a trend that could pressure future revenue growth."Crizac combines digital platform scale, a rising global education trend, and disciplined financial performance — elements that long-term investors typically prize. Subscribe for long-term gains," said Canara Bank Securities. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)

Govt eyes August-September start to electronic parts PLI approvals
Govt eyes August-September start to electronic parts PLI approvals

Economic Times

time28 minutes ago

  • Economic Times

Govt eyes August-September start to electronic parts PLI approvals

The government is expected to hand out the first set of approvals under the Rs 22,919-crore production-linked incentive (PLI) scheme for electronic components manufacturing 'in the next two-three months,' by August-September, a senior official told ET. ADVERTISEMENT The scheme has received an overwhelming response, attracting nearly 100 applications for manufacturing various components, from display modules to camera units to battery packs, from both established players and new entrants. A project management agency is likely to be appointed within a month to screen the applications, the official said, adding that approvals will follow soon after. The government is working on a fast-track mode to get the approvals rolling, the person said. The Union cabinet had on March 28 approved the PLI scheme targeted on passive or non-semiconductor electronics components. ADVERTISEMENT 'The response from industry has been good and very buoyant… I can see that many players would be keen to participate in this scheme which will be crucial to build the larger ecosystem,' said Atul Lall, managing director of electronics manufacturing service company Dixon Technologies.'For Dixon, it is a strategic foray and we will be applying. The timeline for applying is the end of July so the project reports and documentation is under preparation,' he told ET. ADVERTISEMENT ET had reported on April 29 that several companies including Dixon, Tata Electronics, Zetwerk and Foxconn are planning to invest through this PLI scheme. 'As India looks to increase the domestic value addition, the component PLI is important,' Josh Foulger, president of Zetwerk Electronics, told ET. 'All the non-semiconductor items which are being considered are essential in the electronics system design and manufacturing (ESDM) space.' ADVERTISEMENT He said the component ecosystem takes time to come into fruition as it involves several aspects like raw materials, specialised processes, of which have to come into play in a streamlined manner. The qualifications of the customers, too, is a long process.'The tenure of all this coming into fruition will be 18-24 months, but it (the scheme) is on the right track and we see a lot of capable people applying, including us, and, more importantly, ecosystem partners coming here to develop the ecosystem and technology,' Foulger through its subsidiary Yuzhan Technology, is also looking to apply under the smartphone display module category, sources had said at the time. ADVERTISEMENT On June 23, Bengaluru-based unicorn Zetwerk told ET it plans to pump in Rs 500-800 crore on manufacturing printed circuit boards (PCBs), enclosures and electromechanical components such as heatsink and the application for the PLI scheme is being prepared, Zetwerk is in talks with companies in Taiwan, South Korea and China for technology partnerships and is eyeing setting up manufacturing plants over the next one Shah, vice-president of research at Counterpoint Research, said the PLI is going to have maximum impact on components which can be assembled or manufactured in India like batteries, camera modules, display modules and others which contribute to a considerable amount of the cost of the devices.'Display and camera module assembly are the low hanging opportunities for India which could see the most traction,' he said. 'Having capabilities in building a manufacturing ecosystem for camera, display, battery, passive components such as resistors, capacitors, inductors would be a good first step alongside matured nodes semiconductor fabs for wafer as well as packaging.'This is the first such scheme to focus on promoting the manufacturing of passive electronic components and would help deepen value addition happening in the country. It is also meant to complement the existing PLI on mobile manufacturing and the India Semiconductor Mission under which six large players including the Tata Group are setting up chip assembly and chip fabrication scheme envisages to attract investment of Rs 59,350 crore, result in production of Rs 4.56 lakh crore, and generate additional direct employment for 91,600 persons besides many indirect electronics and IT minister Ashwini Vaishnaw had said the segment will serve the requirements of several sectors, including telecom, consumer electronics, automobile, medical devices, power sector, etc. 'India has started developing capital goods, machine goods used to make electronic products. Major centres have come up in Pune, Coimbatore, Rajkot, Bangalore. Apple today has 64 suppliers in India,' he had said while announcing the scheme earlier this year.

UPI daily use count up, avg value down
UPI daily use count up, avg value down

Time of India

time36 minutes ago

  • Time of India

UPI daily use count up, avg value down

Mumbai: transactions in June 2025 rose 32% year-on-year in volume and 20% in value, clocking 1,840 crore worth Rs 24 lakh crore. However, on a month-on-month basis, volumes dipped from 1,868 crore in May to 1,840 crore, and transaction value declined from Rs 25 lakh crore to Rs 24 lakh crore. The average daily transaction count rose to 61.3 crore (up from 60.2 crore), while the average daily transaction value slipped to Rs 80,131 crore from Rs 81,106 crore. TNN

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store