Government planning an easy credit scheme for rural households

Source: The Economic Times, Apr 19, 2017

NEW DELHI: The government is redrawing a micro-credit programme to help pull rural households out of poverty. The proposal is to lend up to Rs 1 lakh per family in the next three to five years, with the loans coming collateral-free and with subsidised interest rates.

“We have simplified the process for accessing loans… We are getting into the details of livelihood each house can undertake so that the money can be lent accordingly,” said rural development secretary Amarjeet Sinha. Read the rest of this entry »

Start-ups to get more money as Cabinet gievs nod to Rs 1k cr fund

Source: Business Standard, Mar 23, 2017

New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved Rs 1,000-crore initial corpus for the Fund of Funds for Start-ups (FFS), which was established in June last year.According to the Cabinet decision, Alternate Investment Funds (AIFs) supported by FFS shall invest at least twice the amount of contribution received from FFS in start-ups.

It was also decided that operating expenses for carrying out due diligence, legal and technical appraisals and convening meeting of Venture Capital Investment Committee, among others, would be met out of the FFS to the extent of 0.50 per cent of the commitments made to AIFs.

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Indian M&E industry to grow at 13.9% CAGR to reach Rs 2,419.4 billion by 2021

Source: The Economic Times, Mar 22, 2017

Mumbai:The Indian Media and Entertainment (M&E) industry is projected to grow at a faster pace of 13.9% CAGR over the period 2016–21, with advertising revenue expected to increase at a CAGR of 15.3% according to the FICCI-KPMG Media and Entertainment industry report 2017.

The report was released by on the inaugural day of the three-day annual media conclave

FICCI FRAMES.

According to the report, 2016 was a mixed bag for the M&E industry and while the digital ecosystem penetrated further into the citizens’ day-to-day lives and opened up new avenues of consumption and revenue, it was time for introspection for many parts of the industry.

For instance, television experienced slower growth due to a lacklustre year for subscription revenues, which have faced headwinds owing to continued challenges around digitisation and its intended benefits flowing through the value chain.

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Indian theme park industry grew at 10.25 per cent in 2016 to reach Rs 2930 crore

indexSource: The Economic Times, Mar 22, 2017

Mumbai: More Indians were “taken for a ride” as the Indian theme park industry grew at 10.25 per cent in 2016 to reach Rs 2930 crore, up from Rs 2660 crore in 2015, according to a report released by Ficci and KPMG. The industry, however, has to make greater strides to match the global level.

The global theme park market, buzzing majorly on theme parks in the US, Japan, China, Hong Kong and Korea, and various others coming up in Dubai and Abu Dhabi, is currently valued at Rs 2.7 lakh crore. Theme parks have the usual elements of an amusement park such as rides but also retail stores, restaurants etc, unified by a central theme.

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Govt nod for 18 new airports costing Rs 30,000 cr

download (1).jpgSource: Business Standard, Mar 21, 2017

New Delhi: The government has given in principle approval for setting up 18 airports which together are estimated to cost nearly Rs 30,000 crore.

Minister of State for Civil Aviation Jayant Sinha today said the government has granted “in principle” approval for the greenfield airports.

Citing information provided by developers, the total estimated cost for setting up of the 18 airports “comes out to Rs 30,000 crore (approximately)”, Sinha said.
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RBI recasts norms on currency hedging for MNCs

images (1).jpgSource: The Economic Times, Mar 22, 2017

NEW DELHI: The RBI today changed norms to provide operational flexibility to multinational entities and their Indian subsidiaries exposed to currency risks arising out of current account transactions in the country.

The extant hedging guidelines have been amended to provide operational flexibility for booking derivative contracts to hedge the currency risk arising out of current account transactions of Indian subsidiaries of multi-national companies.

As per the guidelines, the transactions under the facility will be covered under a tripartite agreement involving the Indian subsidiary, its non-resident parent / treasury and the bank.

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Government devising a National Master Plan for manufacturing clusters

index.jpgSource: The Economic Times, Mar 07, 2017

NEW DELHI: In a major overhaul of the country’s manufacturing strategy, the government is devising a National Master Plan for manufacturing clusters.

The government will also assess big projects including the Sagarmala Project, and upcoming industrial corridors to ensure they are in sync with this master plan being worked out.

A committee formed under Amitabh Kant, chief executive officer of Niti Aayog, is expected to finalise a comprehensive master plan between June and August.

The plan, being piloted by the Department of Industrial Policy and Promotion (DIPP), will then be sent for cabinet approval.

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