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Consumer affairs ministry to meet e-commerce firms on May 15 to curb fake online reviews
The draft Quality Control Order(QCO) of Consumer Affairs Ministry...
Hinduja group floats 4 new Indian cos to acquire Reliance Capital
Hinduja Group has now submitted a new plan changing the...
Union Budget 2021-22:Sitharaman announces FDI limit hike from 49 % to 74 % in Indian insurance sector, one PSU general insurer will be privatised
Outlining some features of a company with FDI of 74 per cent, Sitharaman said in such insurance companies, 50 per cent of board will be independent directs, and all key person will be Indians.
The management control will be lying with the majority shareholders..
Sitharaman also announced government’s intention to privitise one of the state owned insurance companies and listing of the Life Insurance Corporation.
The government will launch a new federal health scheme with an outlay of around 641 billion Indian rupees ($8.80 billion) over the next six years,
Budget-2021-22:Govt yet to identify 2 PSU banks and a gen insurer to be privatised,Fin Secy Pandey
`Privitisation of a public sector banks or an insurance company depends upon a lot of processes which will begin now. We will examine which of the PSU banks excluding IDBI Bank and insurance company is ready or to be made ready. It will be a time consuming process. We will announce names once we identify these companies” said Ajay Bhusan Pandey, finance secretary, Ministry of Finance,.
“The NITI Awill do the due diligence and indenitify the names of the PSU banks and general insurance company that will be privatised. Then the proposals will go to Core Group of Secretaries on Disinvestment(CGD) and then to Alternate mechanism for the finalising the names . The privatisation process of PSUs is part of reforms agenda of the government and is a continuous process and shouldn’t be evaluated in one year, Debasish Panda, Secretary, DFS .
Budget-2021-22:India proposes tax benefits to establish domestic aircraft leasing
India is developing an offshore finance hub called Gujarat International Finance Tec-City, or GIFT City to attract foreign investors with close to zero tax, and top-notch infrastructure in an effort to compete with Hong Kong and Singapore.
Health sector hails increased allocation, new schemes
The Finance Minister announced that Rs 64,180 crore will be invested over six years to improve primary, secondary and tertiary healthcare.
“Her focus on improving rural and urban health infrastructure in addition to the existing National Health Mission will certainly see many new initiatives coming up, which will help improve the health index of people in the country. Spending on improving supply of potable water through Jal Jeevan Mission too will improve health of citizens across India,” Mervin Leo, Cluster COO, Gleneagles Global Hospitals, told IANS. .
Budget 2021: Social security benefits to be extended to platform and gig workers, says FM
A portal will be set up to collect info on gig and platform workers, building and construction workers, among others, to provide them with benefits like health, credit (easy financing), food, and others, Sitharaman said in her speech.
She noted that for the first time Code on Social Security Code 2020 has made provision for universalisation of social security for the entire workforce including gig and platform workers.
Budget 2021-22: Rs 35,000 cr allocated For COVID-19 vaccination expenditure in FY22
According to the COVID-19 Vaccine Operational Guidelines, the shots will be offered first to an estimated one crore healthcare workers, and around two crore frontline workers, and then to persons above 50 years of age, followed by persons younger than 50 years of age with associated comorbidities based on evolving pandemic situation.
COVID-19: India records 13,052 new cases, 127 fatalities
The number of people who have recuperated from the disease surged to 1,04,23,125. The COVID-19 case fatality rate stands at 1.44 per cent.
The total COVID-19 active cases remained below 2 lakh for the 12th consecutive day.
There are 1,68,784 active cases of coronavirus infections in the country which comprises 1.57 per cent of the total caseload, the data stated.
IRDAI chief cautions India Inc on Cyber Risks, 14 general insurers issue 38,000 individual cyber covers
Khuntia was addressing “ The Global Cyber Insurance Summit 2021”,the first -ever such international event organised virtually, on Friday,by GIC Re, Data Security Council of India and City of London Corporation, to identify and discuss leading cyber risks faced by corporates
According to a senior Marsh India official , not more than 400 to 500 Indian corporates that have bought cyber policies
The average policy size of a cyber insurance policy, in the BFSI segment, ranges from $ 1-50 million while a few have taken covers for $ 300 million and the largest policy size in this segment is at $ 400 million.
India to come out of COVID-19 pandemic as one of the global winners: Danish envoy
Svane told PTI that foreign ministers of the two countries are working on an ambitious action plan comprising specific targets to achieve the goals broadly mentioned in the ‘India-Denmark Green Strategic Partnership’.
The green partnership, finalised at a virtual summit between the prime ministers of the two countries, aims to create a framework for significant expansion of cooperation in areas of renewable energy, environment, economy, climate change and science and technology.
Sitharaman’s ‘Economic Vaccine’ coming on Monday; Will Budget 2021-22 go beyond ‘bahi-khata’?
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.