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India Gazette
a day ago
- Business
- India Gazette
"Standing shoulder to shoulder with states": HMO as high-level committee approves over Rs 2000 crore aid to Himachal Pradesh
New Delhi [India], June 18 (ANI): A high-level committee chaired by Union Home Minister Amit Shah has approved Rs 2,006.40 crore in central assistance to Himachal Pradesh under its Recovery and Reconstruction plan following floods, landslides, and cloudburst incidents in 2023. The Home Minister's Office (HMO) highlighted the decision in a post on X on Wednesday, stressing that the Narendra Modi-led central government 'stands shoulder to shoulder with states' in times of natural disasters. In the financial year 2024-25, the Centre has allocated Rs 25,425.16 crore to states under the National Disaster Response Fund (NDRF) and State Disaster Response Fund (SDRF), the Ministry of Home Affairs (MHA) said. 'The Central Government, under the leadership of Prime Minister Narendra Modi, is standing firmly with the states in times of disasters without any discrimination. In this direction, a high-level committee headed by the Union Home and Cooperation Minister Amit Shah approved assistance of Rs 2006.40 crores to Himachal Pradesh for reconstruction in areas affected by disasters like floods, landslides and cloudbursts for the year 2023. The Home Ministry had also given additional financial assistance of Rs 633.73 crores to Himachal Pradesh in December 2023 for relief and rehabilitation from this disaster,' read a post by the Union Home Minister's office. The high-level committee comprises Union Finance Minister Nirmala Sitharaman, Agriculture Minister Shivraj Singh Chouhan and NITI Aayog Vice Chairman Suman Bery, who considered the proposal for financial assistance to the State from the Recovery and Reconstruction funding window under the National Disaster Response Fund (NDRF). According to an official statement from the Union Home Ministry, Rs 1504 crore will be the central share of the more than 2000 crore from the Recovery and Reconstruction Funding Window under the National Disaster Response Fund. On December 12, 2023, the Ministry of Home Affairs approved additional financial assistance of Rs 633.73 crore from the NDRF for Himachal Pradesh, which was affected by this disaster. 'Under the leadership of PM Modi, the Government of India is standing shoulder to shoulder with the state governments during natural calamities and disasters. To fulfil PM Modi's vision of a disaster-resilient India, the Ministry of Home Affairs, under the guidance of Home Minister Amit Shah, has taken several initiatives to ensure effective management of disasters in the country,' the ministry's statement added. According to the statement, the Centre has approved a number of mitigation projects with an overall financial outlay of Rs 7253.51 crore to mitigate the risks of various hazards, including urban floods (Rs. 3075.65 crore), Landslides (Rs.1000 crore), GLOF (Rs. 150 crore), Forest Fire (Rs. 818.92 crore), Lightning (Rs. 186.78 crore), and Drought (Rs. 2022.16 crore). The Centre has also approved recovery plans for the states of Uttarakhand and Sikkim. Uttarakhand was sanctioned Rs 1,658.17 crore in the aftermath of the Joshimath subsidence, while Rs 555.27 crore was allocated for GLOF-related damages in Sikkim in 2023. (ANI)
The Hindu
09-05-2025
- Business
- The Hindu
Maharashtra seeks to increase share in divisible tax pool; requests allocation of ₹1,28,231 crore to fund infra projects
To increase Maharashtra's share in the receipt of tax revenue, the State Government on Thursday (May 9, 2025) recommended to the 16th Finance Commission (FC) to raise the weightage of population share in devolution formula from 15% to 20%, along with a request for allocation of ₹1,28,231 crore for the infrastructure development in the Mumbai Metropolitan Region (MMR). These projects include interlinking of rivers, hostel requirements of post-graduate medical students, prison upgradation and a new Bombay High Court complex and proposed for the overall allocation under the State Disaster Response Fund (SDRF), altering the ratio between the Centre and State from 75:25 to 90:10. Also raise the grant-in-aid for local bodies from 4.23% to 5%. Hailing Maharashtra's fiscal policy, 16th FC, chairman, Dr. Arvind Panagariya said, 'The State's finances appear to be in good state with low fiscal deficit and borrowings within the limit of 3% set by the Centre. The State has asked to increase population share in the horizontal devolution formula to 20%, making clear allocations of 10% for urban fund devolution and 10% for fund devolution.' According to the Chief Minister Office statement, Maharashtra asked to increase the vertical devolution in the divisible tax pool from the existing 41% to 50%, similar to other States' requirements. The divisible pool consists of tax revenue shared among the Central Government and State Governments in a country, based on a report prepared by the Finance Commission. These recommendations were made during a meeting with the 16th Financial Commission, headed by Mr. Panagariya, who is currently on a two-day visit to Maharashtra to prepare a report on the State's financial requirements and consult experts concerning the fund allocation for the projects. The meeting was a part of consultations with all the States of India to finalise recommendations for the distribution of tax revenues for the five years starting from 2026. Along with Deputy Chief Minister (DCM) Ajit Pawar and Eknath Shinde, Chief Minister Devendra Fadnavis represented the State during the 16th FC meeting on Thursday (May 8, 2025.) Other recommendations Maharashtra Government has urged FC to introduce the new criteria for horizontal devolution — Sustainable development and green energy, giving weightage of 22.5% and 2.5% weightage for the State implementable contribution to India's Gross Domestic Product (GDP). Besides, the State insisted on reducing the ' Income distance' to 37.5%. Income distance means the distance of a State's income from the State with the highest per capita income; the lower the income, the higher the share, while reducing 'Demographic performance' from the existing 12.5% to 10%. Horizontal devolution facilitates the allocation of Central taxes among the States based on assigned weights and criteria. The 15th FC had six criteria for horizontal devolution, including income distance, population, area, forest and ecology, demographic performance, and tax effort.. The Government aims to receive high allocations to develop infrastructure and enhance public services.
Yahoo
26-03-2025
- Automotive
- Yahoo
Carney: 'We will build a stronger auto industry'
Canadian Prime Minister Mark Carney spoke today from the Ambassador Bridge in Windsor, Ontario. During his speech, Carney emphasized the importance of Canada's automotive industry and announced a 'Strategic Response Fund' of CAD$2 billion ($1.4 billion USD) to bolster the Canadian auto industry and its supply chain in response to the U.S.'s April 2 auto tariffs. In his opening remarks, the newly appointed Prime Minister highlighted the significance of the Ambassador Bridge, noting that over a quarter of all Canada-U.S. trade—amounting to more than $400 million daily—passes through it. He warned that U.S. President Donald Trump's tariff threats and actions have strained relations between the two nations to unprecedented levels, stating, 'His trade war threatens to hurt hardworking Canadians—the people we care about.' Carney reiterated that his government will channel all revenue from Canada's retaliatory tariffs into supporting the workforce. He outlined several measures already in place: waiving the one-week insurance waiting period for workers, introducing a middle-class tax cut saving families up to CAD$825 annually, implementing $10-a-day childcare, and launching the Canadian Dental Care Plan. Focusing on the auto industry, the Prime Minister stressed that vehicles are Canada's second-most-exported product, directly supporting over 125,000 jobs and nearly 500,000 more indirectly. 'Canadian autoworkers don't just build vehicles; they build Canada,' Carney declared. He then unveiled the 'Strategic Response Fund,' a CAD$2 billion initiative to protect autoworkers' jobs from the impact of Trump's tariffs and strengthen the auto industry's supply chain. The former banker elaborated, 'Under our new plan, we will build an 'All-In Canada' network for auto manufacturing components. On average, an auto part crosses the border, often over that bridge, six times before assembly. In a trade war, that's a huge vulnerability.' Carney expressed his ambition to increase vehicle production in Canada, viewing it as both a shield against U.S. tariffs and an economic driver. He also pledged to accelerate growth in the critical minerals sector, referencing the 'First Mile Fund' established last Friday to connect mineral extraction sites to infrastructure. To streamline approvals, he announced a 'one-window approval process' to eliminate redundant federal requirements. Shifting to politics, Carney took aim at Conservative Party leader Pierre Poilievre, his election rival, echoing criticisms from a speech the previous day. He described Poilievre as negative, angry, and divisive, drawing a parallel to U.S. President Donald Trump: 'Someone who worships Donald Trump will kneel before him, not stand up to him.' Carney is campaigning as head of the Liberal Party against Poilievre's Conservatives in an election set to begin April 28. He concluded, 'We will build a stronger, more resilient auto industry. We will build Canada strong.' Related Articles Carney: 'We will build a stronger auto industry' China's vice premier raises 'solemn concerns' over tariffs in talks with US trade chief US Treasury's financial crimes unit won't require ownership reporting from US firms
Yahoo
26-03-2025
- Automotive
- Yahoo
Carney: 'We will build a stronger auto industry'
Canadian Prime Minister Mark Carney spoke today from the Ambassador Bridge in Windsor, Ontario. During his speech, Carney emphasized the importance of Canada's automotive industry and announced a 'Strategic Response Fund' of CAD$2 billion ($1.4 billion USD) to bolster the Canadian auto industry and its supply chain in response to the U.S.'s April 2 auto tariffs. In his opening remarks, the newly appointed Prime Minister highlighted the significance of the Ambassador Bridge, noting that over a quarter of all Canada-U.S. trade—amounting to more than $400 million daily—passes through it. He warned that U.S. President Donald Trump's tariff threats and actions have strained relations between the two nations to unprecedented levels, stating, 'His trade war threatens to hurt hardworking Canadians—the people we care about.' Carney reiterated that his government will channel all revenue from Canada's retaliatory tariffs into supporting the workforce. He outlined several measures already in place: waiving the one-week insurance waiting period for workers, introducing a middle-class tax cut saving families up to CAD$825 annually, implementing $10-a-day childcare, and launching the Canadian Dental Care Plan. Focusing on the auto industry, the Prime Minister stressed that vehicles are Canada's second-most-exported product, directly supporting over 125,000 jobs and nearly 500,000 more indirectly. 'Canadian autoworkers don't just build vehicles; they build Canada,' Carney declared. He then unveiled the 'Strategic Response Fund,' a CAD$2 billion initiative to protect autoworkers' jobs from the impact of Trump's tariffs and strengthen the auto industry's supply chain. The former banker elaborated, 'Under our new plan, we will build an 'All-In Canada' network for auto manufacturing components. On average, an auto part crosses the border, often over that bridge, six times before assembly. In a trade war, that's a huge vulnerability.' Carney expressed his ambition to increase vehicle production in Canada, viewing it as both a shield against U.S. tariffs and an economic driver. He also pledged to accelerate growth in the critical minerals sector, referencing the 'First Mile Fund' established last Friday to connect mineral extraction sites to infrastructure. To streamline approvals, he announced a 'one-window approval process' to eliminate redundant federal requirements. Shifting to politics, Carney took aim at Conservative Party leader Pierre Poilievre, his election rival, echoing criticisms from a speech the previous day. He described Poilievre as negative, angry, and divisive, drawing a parallel to U.S. President Donald Trump: 'Someone who worships Donald Trump will kneel before him, not stand up to him.' Carney is campaigning as head of the Liberal Party against Poilievre's Conservatives in an election set to begin April 28. He concluded, 'We will build a stronger, more resilient auto industry. We will build Canada strong.' Related Articles Carney: 'We will build a stronger auto industry' China's vice premier raises 'solemn concerns' over tariffs in talks with US trade chief US Treasury's financial crimes unit won't require ownership reporting from US firms
