CS SURBHI SAXENA

Implementation of Labour Laws and new Labour Codes reviewed by CLC with NHPC and BRO officials in HP

Chief Labour Commissioner and DG Labour Bureau Shri DPS Negi reviewed the status of sensitization and implementation of labour laws and labour codes in NHPC and BRO projects in Himachal Pradesh.In separate meetings, Shri Negi enquired about the prevailing labour issues at Parvati-2 and Parvati-3 projects of NHPC at Nagwain. He also studies different activities going on in Parvati Power Station at Bihali.

GMs in-charge of both the projects briefed the CLC-cum-DG Labour regarding the compliance with various labour laws.ShriNgi expressed satisfaction about the compliance status of labour laws in the two projects of NHPC.

Chief Labour Commissioner and DG, Labour Bureau also visited the Atal tunnel and met senior officials from Border Road Organisation (BRO) and contractors engaged in various activities of the tunnel. In the meeting, Officials from BRO which is a road construction organization, formed in 1960 under the Ministry of Defence, made detailed presentations elaborating work and other related aspects of the tunnel. Mr. Negi explained to the officials from BRO and contractors about the importance of implementation of labour laws and new labour codes. He elucidated how compliance with new labour codes is a win-win situation for both the employees and the employers.The tunnel, with a length of over nine kms, has been built under the Rohtang pass by the Border Road Organisation. It has improved the connectivity, considerably reducing the travel time and overall distance between Manali and Keylong.

Government of India announced Auction for Sale (Re-issue) of ‘4.26% GS 2023’, and ‘5.85% GS 2030’ and ‘6.76% GS 2061’

The Government of India (GoI) has announced the Sale (Re-issue) of

(i) ‘4.26% Government Security, 2023’ for a notified amount of Rs 3,000 crore (nominal) through price based auction, (ii) ‘5.85% Government Security, 2030’ for a notified amount of Rs 14,000 crore (nominal) through price based auction, and (iii) ‘6.76% GS 2061’ for a notified amount of Rs 9,000 crore (nominal) through price based auction. GoI will have the option to retain additional subscription up to Rs 6,000 crore against above security/securities. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on June 25, 2021 (Friday) using multiple price method.

Up to 5% of the notified amount of the sale of the Securities will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on June 25, 2021. The non-competitive bids should be submitted between 10.30 a.m. and 11.00 a.m. and the competitive bids should be submitted between 10.30 a.m. and 11.30 a.m.

The result of the auctions will be announced on June 25, 2021 (Friday) and payment by successful bidders will be on June 28, 2021 (Monday). The Securities will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time.

NIOS Diploma course in Yogic Science launched

Minister of State for Education Shri Sanjay Dhotre launched NIOS Diploma course in Yogic Science on the occasion of International Day of Yoga today. The Minister released the self-instructional material of the course. The Minister congratulated NIOS for offering such vocational courses to the learners.

Highlighting about the significance of Yoga especially during covid, Shri Dhotre said it has resulted in creating many employment opportunities. The course in Yogic science will help those who pass out of the course to become a job provider rather than a job seeker. Delivering her remarks the Chairperson of NIOS informed that the two-year Diploma programme has five subjects in the first year in which Yoga Teaching Training will be taught and in the second year five subjects related to Yoga Therapy will be taught.

Prime Minister launches WHO-M-Yoga App [Install App]

The Prime Minister of India, Shri Narendra Modi while addressing on the occasion of 7th International Day of Yoga launched ‘WHO M-Yoga’ App. M-Yoga app will provide many videos of Yoga training and practice based on common Yoga protocol in many languages.

The Prime Minister said: “When India proposed the International Day of Yoga in the United Nations, the spirit behind it was to make this Yoga science accessible to the entire world. Today, India has taken another important step in this direction along with the United Nations and WHO. Now the world is going to get the power of the m-Yoga app. In this app, many videos of Yoga training will be available in different languages of the world based on the common Yoga protocol. It is also a great example of the fusion of modern technology and ancient science. I am sure the m-Yoga app will play a big role in expanding Yoga across the globe and making the efforts of One World, One Health a success.”

This mobile app will be immensely helpful in the promotion of Yoga and wellness among people around the world, especially during the ongoing pandemic. It will play an instrumental role in re-rehabilitation of the health of the Covid patients who have recovered from Covid-19, the Prime Minister said.

CLICK HERE TO DOWNLOAD m-Yoga App

Background: The Ministry of AYUSH and the World Health Organization (WHO) had jointly undertaken a project in mid 2019, focussingon

mobile-Yoga. It envisaged the concept of the ‘Be Healthy, Be Mobile’ (BHBM) under the United Nations Sustainable Development Goals to achieve Universal Health Coverage by 2030. Be Healthy, Be Mobile (BHBM) initiative is a global partnership led by WHO which supports the scale up of mobile health (m-Health) technology within the scope of the National Health system to combat non-communicable diseases (NCDs).

In order to achieve the above objectives, a memorandum of understanding was signed in July, 2019 between WHO and the Ministry of AYUSH. The m-Yoga project focused on four areas: (1) Common Yoga Protocol for General Wellness; (2) Yoga for mental health and resilience; (3) Yoga for Adolescents; and (4) Yoga for pre – Diabetics. Building upon this, a requisite handbook and mobile applications were to be developed by Morarji Desai National Institute of Yoga (MDNIY) in consultation with the WHO technology partners.

The work on the handbook is in the final stages and the currently launched app is available in two of the six official languages of the UN i.e English and Hindi. In this work, Morarji Desai National Institute of Yoga (MDNIY) played a pivotal role to facilitate preparation of Common Yoga Protocol for General Wellness of various duration(45 minutes, 20 minutes and 10 minutes), Common Yoga Protocol booklets, video shoots, their translations in 6 major UN languages and designs of the booklets under the directives of Ministry of AYUSH, GOI.

Click Here to download the app: https://play.google.com/store/apps/details?id=org.who.APPMYOGA

Amendment in Food security (Assistance to State Government Rules) 2015 notified

The Department of Food & Public Distribution has issued a notification on 18th June, 2021 to ensure right quantity to beneficiaries in distribution of subsidized food grains as per their entitlement under the National Food Security Act (NFSA), 2013.

In order to incentivise States who are operating their ePoS devices in a judicious manner and are able to generate savings from the additional margin of Rs.17.00 per quintal provided to them, and to take forward the reform process for improving transparency in operations of the Targeted Public Distribution System under NFSA, Rule 7 in sub-rule (2) of Food security (Assistance to State Government Rules) 2015 has been amended with effect from 18th June, 2021 so that any savings if accrued by any State/Union Territory from the additional margin provided towards the cost of purchase, operation and maintenance of the point of sale device, its running expenses and incentive for its use, can henceforth be utilised for purchase, operations and maintenance of electronic weighing scales and their integration with the point of sale devices. This would encourage other States to generate savings through judicious use of ePoS devices.

This amendment is an attempt to take forward the reform process envisaged under Section 12 of the Act, through improving transparency of operations of the Targeted Public Distribution System under NFSA. While distribution through ePoS devices ensures that subsidised foodgrains are provided to the rightful beneficiary through biometric authentication, integration of ePoS devices with electronic weighing scales would ensure that the beneficiary is given the right quantity of foodgrains by the Fair Price Shop dealer as per his entitlement.

It may be noted that the National Food Security Act provides for reforms in the Targeted Public Distribution System through application of information and communication technology tools including end-to-end computerization to ensure transparent recording of transactions at all levels, and to prevent diversion and leveraging “Aadhaar” for unique identification, with biometric information of entitled beneficiaries for proper targeting of benefits under the Act.

Food security (Assistance to State Government Rules) 2015 that was notified in August 2015, provides for additional margin to Fair Price Shop (FPS) Dealers for sale through electronic point of sale devices (ePoS) as an incentive to ensure transparent recording of transactions at all levels. Accordingly, the scheme “Assistance to State agencies for intra-State movement of foodgrains and FPS dealers margin under NFSA” provides for additional Margin of Rs.17.00 per quintal to all State Governments/Union Territories towards the cost of purchase, operation and maintenance of the point of sale device, its running expenses and incentive for its use. The additional margin is payable for the fair price shop which has installed a point-of-sale device and shall be limited to the transactions made through it.

Nationwide campaign “JaanHaiToJahaanHai” launched to create awareness on Corona vaccination in rural and remote areas of the country

The Minority Affairs Minister Shri Mukhtar Abbas Naqvi today launched a nationwide “JaanHaiToJahaanHai” awareness campaign to create awareness on Corona vaccination in rural and remote areas of the country and also to “Crush and Curb” the rumours and apprehensions, being spread by some vested interests regarding the on-going vaccination drive. Launching the campaign from the Primary Health Centre, Chamraua in Rampur, Uttar Pradesh, Shri Naqvi said that “Hesitation to Vaccination is Corona Invitation”.

The Minister said that the Ministry of Minority Affairs along with various socio-educational organisations, NGOs and Women Self Help Groups have launched the awareness campaign which will be organised across the country in the coming days. Under the campaign various religious leaders, prominent people from social, educational, cultural, medical, science and other fields are giving effective messages to the people to get vaccinated and street plays will also be organised across the country.

He said, the two “Made in India” Corona vaccines are result of the hard work of our scientists and it has been proved scientifically that these vaccines are absolutely safe and effective weapon in the fight against Corona. Every eligible person should get vaccinated to make India free from the Corona pandemic, he added.

Shri Naqvi stated that State Haj Committees, Waqf Boards, their associated organisations, Central Waqf Council, Maulana Azad Education Foundation, various social and educational institutions, NGOs, Women Self Help Groups working under “Nai Roshni” scheme of the Minority Affairs Ministry, have been included in the awareness campaign. These organisations will encourage and persuade the people to get vaccinated to tackle the Corona pandemic.

Religious leaders and prominent people from various fields including Shahi Imam of Delhi’s Jama Masjid, Syed Ahmed Bukhari; Imam of Fatehpuri Masjid, Delhi, Dr. Mufti Mukarram Ahmad; Jain Guru Acharya Lokesh Muni; Archdiocese of Delhi, Archbishop Anil Joseph Thomas Couto; Parsi religious leader Dasturji Dadachanji; prominent Shia cleric Maulana Kalbe Jawad; Delhi Sikh Gurudwara Management Committee President Shri Manjinder Singh Sirsa; Ajmer Sharif Dargah Sajjadanashin Syed Zainul Abedin; Anjuman Syyed Jadgan, Dargah Ajmer Sharif Chairman Haji Syed Moin Hussain; Dargah Ajmer Sharif KhadimJanab Syed Ghulam Kibriya Dastagir ; All India Sufi Sajjadanashin Chairman Syed Naseruddin Chishty; Dargah Nizamuddin, Delhi Sajjadanashin Syed Hammad Nizami; Shia Masjid, Delhi Imam Maulana Mohhamad Ali MohsinTaqvi; Inter Faith Harmony Foundation of India Founder Dr. Khawaja Iftikhar Ahmed; Aligarh Muslim University Vice-Chancellor Dr. Tariq Mansoor; All India Imam Organisation Chief Imam Dr.Umer Ahmed Ilyasi; renowned Neurosurgeon Dr. Mazda Turel; Director UNESCO Parzor and JiyoParsiDr.Shernaz Kama, Buddhist Monk Kachayan Sraman; renowned actor Raju Shrivastava; Bollywood singers Ms Neelam Chauhan, Ms Rani Indrani and Shri Vivek Mishra and prominent people from other fields have given effective message and appeal to create awareness on Corona vaccination.

Video messages of these prominent people will be publicised among the people through social media platforms and other medium to create awareness on Corona vaccines. Several other prominent people of the country will also join the campaign in the coming days.

EPFO added around 12.76 lakh net subscribers during April, 2021

The provisional payroll data of EPFO published on 20th June, 2021 highlights that EPFO has added around 12.76 lakh net subscribers during April, 2021. Despite the second wave of COVID-19 pandemic, April 2021 registered an increase of 13.73% net subscribers addition as compared to the previous month during which around 11.22 lakh net subscribers were added to the payroll. Data reflects that the number of exits in the month of April, 2021 have declined by 87,821 and rejoining has increased by 92,864 subscribers as compared to March, 2021.

Of the 12.76 lakh net subscribers added during the month, around 6.89 lakh new members have come into the social security coverage of EPFO for the first time. Around 5.86 lakh net subscribers exited and then rejoined EPFO by changing their jobs within the establishments covered by EPFO and choose to retain membership through transfer of funds rather than opting for final settlement.

Age-wise comparison of payroll data shows that the age-group of 22-25 years has registered highest number of net enrollments with around 3.27 lakh additions during the month of April, 2021. This is followed by age-group of 29-35 with around 2.72 lakh net enrollments. The members of 18-25 age-groups, usually first timers in the job market, have contributed around 43.35% of total net subscriber additions in April, 2021.

State-wise comparison of payroll figures shows that establishments registered with the states of Maharashtra, Haryana, Gujarat, Tamilnadu and Karnataka to remain in forefront by adding approximately 7.58 lakh subscribers during the month, which is around 59.41% of total net payroll addition across all age groups. The North Eastern (NE) states have shown above average growth in terms of net subscribers addition as compared with previous month.

Gender-wise analysis indicates that the share of female’s enrolment is approximately 22% of total net subscribers addition during the month. Month-on-month analysis reveals an increasing trend in net female subscribers by adding 2.81 lakh enrollments during April, 2021 which was 2.42 lakh during March, 2021. In addition to this, number of female subscribers who have come under the ambit of EPFO for the first time, has also increased to 1.90 lakh in April, 2021 from 1.84 lakh in March, 2021.

Industry-wise payroll data indicates that ‘expert services’ category (consisting of manpower agencies, private security agencies and small contractors etc.) constitutes 45% of total subscribers addition during the month. In addition, industries involved in making plastic products, beedi, schools, banks and establishments related to iron & steel sectors have also registered above average growth in terms of net addition of subscribers during the of April, 2021 as compared to the previous month of March, 2021.

India to organise two day summit on Green Hydrogen Initiatives involving BRICS nations

India is all set to host a two day summit on Green Hydrogen initiatives on 22nd June, 2021 involving the BRICS nations. The prestigious event offers a platform to share their respective Green Hydrogen initiatives and views on how to take it to the next level in their own countries. The online event will be held via a video conference and will conclude on 23rd June.

The event will be anchored by India’s largest power producer and one of the global energy majors, NTPC Ltd , a Maharatna CPSU under Ministry of Power.The virtual summit will bring the best brains, policy makers and major stakeholders from the BRICS nations deliberating and discussing at length the future of Hydrogen in the energy mix.

On Day 1, the representatives from each country would be sharing respective initiatives undertaken by their countries on utilization of hydrogen and their future plans. The speakers will also share the relevance of different technologies developed on hydrogen and its priorities for their country.

Day 2 will witness panel discussions on ideas integrating hydrogen in overall energy policy framework by different countries. The discussions to entail financing options for the emerging green hydrogen technologies and the institutional support needed to create the requisite ecosystem for the technology to flourish.

Green hydrogen has innumerable applications. Green Chemicals like ammonia and methanol can directly be utilized in existing applications like fertilizers, mobility, power, chemicals, shipping etc. Green Hydrogen blending up to 10% may be adopted in CGD networks to gain widespread acceptance. Further scaling up with greening of hard to abate sectors (like steel and cement) through hydrogen is to be explored. Many countries have brought out their strategies and defined targets and roadmaps based on their resources and strengths.

NTPC’s Board of Directors recommended a final dividend of Rs 3.15 per equity for FY 21

The Country’s largest power generator- NTPC Ltd., a Maharatna CPSU under Ministry of Power with a present group installed capacity of 65825 MW, declared the financial results for FY21 along with unaudited financial results for Q4 FY21 on Saturday.

In FY21, NTPC group has recorded the highest ever gross generation of 314.07 Billion units as against 290.19 Billion units during the previous year. On Standalone basis, the gross generation of NTPC for FY21 was 270.91 Billion units as against 259.62 Billion units in the previous year. Coal stations achieved a Plant Load Factor of 66.00% as against National Average of 54.56% with an availability factor of 91.43%.

NTPC has realized more than 100% of the billed amount during the year, crossing rupees one lakh crore, which is the highest ever realization. For FY21, the total income was ₹ 103,552.71 crore as against ₹ 100,478.41 crore in FY20, registering an increase of 3.06%. For FY21, NTPC has registered its highest ever Profit After Tax of ₹ 13,769.52 crore, as against ₹ 10,112.81 crore in FY20 registering an increase of 36.16%.

The Board of Directors of NTPC Ltd. have recommended a final dividend @ 31.5% of paid-up share capital i.e. ₹ 3.15 per equity share of the face value of ₹ 10/- each for FY21, subject to the approval of shareholders in the Annual General Meeting. The Company had paid an Interim Dividend @ 30% of paid-up share capital i.e. ₹ 3.00 per equity share in February 2021. This is the 28th consecutive year of dividend payment by the Company.

NTPC recognised among top 50 at Great Place to Work in India

NTPC, a Maharatna CPSE under Ministry of Power has been recognised as a Great Place to Work for the 15th year in a row by the Great Place to Work Institute.

It is the only PSU to consistently feature in India’s Top 50 Best Workplaces. This year NTPC ranked 38th up from 47th position last year. It also won its first-ever recognition of India’s Best Employers among Nation-Builders 2021. Figuring consistently in GPTW’s Best Workplaces List year on year is testimony of its people’s practices and approach.

Great Place to Work Certification is the most definitive ‘Employer-of-Choice’ recognition that organizations aspire to achieve. The Certification is recognized world over by employees and employers alike and is considered the ‘Gold Standard’ in identifying and recognizing Great Workplaces with High Trust and High Performance Cultures.

The GPTW Institute’s evaluation is based on the audit of NTPC’s Human Resource practices and policies as well as anonymous feedback from employees on the organization culture covering dimensions of employee trust: respect, fairness, credibility, pride, and camaraderie. NTPC also won the CII HR Excellence Role model award in the month of March 2021, the highest award in the field of People Management in the country.

Guidelines for parent participation in home-based learning during school closure and beyond released

The Department of School Education and Literacy, Ministry of Education today released the Guidelines for Parent Participation in Home-based Learning during school closure and beyond.

Union Education Minister Shri Ramesh Pokhriyal ‘Nishank’ in his tweet said that in this ‘new normal’ of the pandemic, considering parents’ role as pivotal to children’s growth and learning, theseGuidelines aim to provide information on the ‘why’, ‘what’, and ‘how-to’ of participation and engagement in supporting children during the school closure, irrespective of their literacy levels. Home is the first school, and parents are the first teachers, he added.

The guidelines on home based learning emphasize on the need for parents to create a safe and engaging environment and a positive learning environment, have realistic expectations from the child, take care of health and eat healthy, while at the same time having fun with children. These guidelines are meant not only for parents but also for caregivers, other family members, grandparents, community members, older siblings who all are engaged in promoting the welfare of children.

The guidelines provide many simple tips for parents and others to facilitate children in Home based learning. These suggestive activities are in accordance with the various stages of school education as per NEP 2020. Age-appropriate art activities have been categorized on basis of 5+3+3+4 system viz Foundation Stage (Age 3-8yrs); Preparatory Stage (Age 8-11 yrs); Middle Stage (Age 11-14yrs); and Secondary Stage: From Adolescent to Adult age (Age 14-18 years). The activities are simple and suggestive, which can be adapted and adopted to local needs and contexts.The Guidelines appreciate the role of Art as a therapy for children under stress or trauma.

The Guidelines lay significance on improving children’s learning by monitoring and addressing their learning gaps. Collaboration of parents with teachers in documenting and reflecting on the progress that children are making in their learning is important for both teachers and parents.

The Guidelines also advise the schools to involve parents by providing information and ideas on helping students at home with homework and other curriculum-related activities, decisions, and planning, and involving them in school decisions. Resources like sending Newsletters, emails, memos, etc. may be provided to parents.

Resources have been made available for Children with special needs which may be explored by the parents. They can approach teachers for guidance in this regard. There are other agencies, and organizations that provide facilitated Information about such avenues that could be sought from SMCs/Gram Panchayat, school administrators etc.

A separate chapter has been included in the Guidelines for supporting parents with low/no literacy. Schools, teachers and volunteers may take the suggestive steps to provide support to low-literacy parents.

Click here to see the guidelines

Finance Ministry refutes news media reports of alleged black money held by Indians in Switzerland

Certain reports have appeared in the media on 18.06.2021 stating that funds of Indians in Swiss Banks have risen to over Rs 20,700 crore (CHF 2.55 billion) at the end of 2020 from Rs 6,625 crore (CHF 899 million) at the end of 2019, reversing a 2 year declining trend. It has also been stated that this is also the highest figure of deposits in the last 13 years.

Media reports allude to the fact that the figures reported are official figures reported by banks to Swiss National Bank (SNB) and do not indicate the quantum of much debated alleged black money held by Indians in Switzerland. Further, these statistics do not include the money that Indians, NRIs or others might have in Swiss banks in the names of third–country entities.

However, the customer deposits have actually fallen from the end of 2019. The funds held through fiduciaries has also more than halved from the end of 2019. The biggest increase is in “Other amounts due from customers”. These are in the form of bonds, securities and various other financial instruments.

India and Switzerland are signatories to the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAAC) and both countries have also signed the Multilateral Competent Authority Agreement (MCAA) pursuant to which, the Automatic Exchange of Information (AEOI) is activated between the two countries for sharing of financial account information annually for calendar year 2018 onwards.

Exchanges of Financial Account information in respect of residents of each country have taken place between both countries in 2019 as well as 2020. In view of the existing legal arrangement for exchange of information of financial accounts (which has a significant deterrent effect on tax evasion through undisclosed assets abroad), there does not appear to be any significant possibility of the increase of deposits in the Swiss banks which is out of undeclared incomes of Indian residents.

Further, the following factors could potentially explain the increase in deposits:

Increase in the deposits held by Indian companies in Switzerland owing to increased business transactions
Increase in deposits owing to the business of Swiss Bank branches located in India
Increase in Inter- bank transactions between Swiss and Indian Banks
A capital increase for a subsidiary of a Swiss Company in India and
Increase in the liabilities connected with the outstanding derivative financial instruments

The Swiss Authorities have been requested to provide the relevant facts along with their view on possible reasons for increase/decrease in the light of the media reports highlighted above.

Indian Certification of Medical Devices (ICMED) Plus Scheme launched by Quality Council of India

The Quality Council of India (QCI), and the Association of Indian Manufacturers of Medical Devices (AiMeD) have added further features to the ICMED, the Scheme that had been launched for Certification of Medical Devices in 2016. The ICMED 13485 PLUS, as the new scheme has been christened, will undertake verification of the quality, safety and efficacy of medical devices. The ICMED 13485 PLUS Scheme was launched digitally on 18th June, Friday . The Chairperson, Quality Council of India graced the occasion along with other dignitaries.

ICMED 13485 Plus has been designed to integrate the Quality Management System components and product related quality validation processes through witness testing of products with reference to the defined product standards and specifications. This is the first scheme around the world in which quality management systems along with product certification standards are integrated with regulatory requirements. This scheme will be an end to end quality assurance scheme for the medical devices sector in India.

This scheme provides the much-needed institutional mechanism for assuring the product quality and safety. It will go a long way in assisting the procurement agencies to tackle the challenges relating to the menace of counterfeit products and fake certification. This will also help in eliminating the circulation and use of sub-standard medical products or devices of doubtful origin that could prove to be serious health hazards.

Mr. K. L. Sharma, Joint Secretary (retd.), MoH&FW and Chair of the ICMED Steering Committee stated that ‘The launch of the ICMED Plus is a watershed moment. Coming, as it does, in the aftermath of the COVID-19 pandemic and at a geostrategically crucial time when the world looks beyond a few monopolistic countries, it could shepherd India to be one of the leading global manufacturers of quality medical devices’.

Dr. Ravi P. Singh, SG, QCI while welcoming the guests laid emphasis on the regulatory gap which existed in India prior to 2017 and how the next 23 months of transition will continue to have regulatory gaps. To fill such gaps in the medical devices Industry, it is essential that ICMED Plus scheme, be recognized as a prerequisite to show compliance by manufacturers under MDR-2017 and to reduce the load on regulators, ICMED Plus certification should be considered as deemed compliance for one year under MDR-2017.

Mr. Rajiv Nath, Forum Coordinator, AiMeD explained the details of the scheme and responded to all questions that were raised during multi-stakeholder committee meetings. He also said that ‘The need for an Indian Quality Certification System was never felt as strongly as during the current pandemic. Access to affordable and quality medical devices can be realised through ICMED Plus certification’.

Ministry of Tourism invites feedback on the draft National Strategy and Roadmap for Medical and Wellness Tourism

Medical Tourism (also called medical travel, health tourism or global healthcare) is a term used to describe the rapidly growing practice of travelling across international borders to obtain healthcare. Services typically sought by travellers include elective procedures as well as complex specialized surgeries such as joint replacement (knee/ hip), cardiac surgery, dental surgery, and cosmetic surgeries. However, virtually every type of healthcare, including psychiatry, alternative treatments, and convalescent care is available in India. The Key drivers for growth of Medical Tourism and wellness tourism are mainly affordability and accessibility of good healthcare services, facilitation around hospitality services, minimal waiting time, availability of latest medical technologies and accreditations.

Healthcare and Tourism are the fastest growing industries in the world. Medical Value Travel (MVT) is being promoted as a fusion product of these industries. Over the years, India has grown to become a top-notch destination for medical value travel because it scores high over a range of factors that determines the overall quality of care. India has also become a favoured destination for Yoga and Wellness with its focus on traditional therapies through AYUSH.

The Ministry of Tourism has recognized the immense potential of MVT and has been actively working on promotion and development of Medical Tourism. The Ministry of Tourism has accordingly formulated a Draft National Strategy and Roadmap for Medical and Wellness Tourism, which can be accessed from the following link https://tourism.gov.in/sites/default/files/202106/Draft%20Strategy%20for%20Medical%20and%20Wellness%20Tourism%20June%2012.pdf and also available on Ministry of Tourism’s website https://tourism.gov.in/ under “what’s new” section

Before proceeding to finalize the draft strategy document and to make the document more comprehensive, the Ministry of Tourism would like to invite feedback/comments/suggestions on the draft National Strategy and Roadmap. The comments may be forwarded to the Ministry of Tourism on or before 30th June, 2021 at e-mail IDs : js.tourism@gov.in, bibhuti.dash72@gov.in, prakash.om50@nic.in.

Tourism Ministry Draft National Strategy and Roadmap for development of Rural Tourism in India; invites feedback

The Ministry of Tourism has the main objective of promoting and facilitating tourism both inbound and domestic in India. Augmenting tourism infrastructure, ensuring ease of travel, promoting tourism products and destinations is one of the focus areas. The Ministry of Tourism has recognized the immense potential of Rural Tourism and has been actively working on promotion and development of this niche area of tourism. Identification, diversification, development, and promotion of niche tourism products in the country is the initiative of the Ministry to overcome the aspect of ‘seasonality’ and to promote India as a 365 days’ destination, to attract tourists with specific interest, and to ensure repeat visits for the unique products in which India has a comparative advantage. The Ministry of Tourism has formulated a Draft National Strategy and Roadmap for Development of Rural Tourism in India – An initiative towards Atmanirbhar Bharat. Driven by the spirit of “Vocal for Local”, rural tourism can contribute significantly to the mission of Aatmanirbhar Bharat. The draft National Strategy and Roadmap for Development of Rural Tourism in India can be accessed from the following link https://tourism.gov.in/sites/default/files/202106/Draft%20Strategy%20for%20Rural%20Tourism%20June%2012.pdf also available on Ministry of Tourism’s website https://tourism.gov.in/ under “what’s new” section. Before proceeding to finalize the draft strategy document and to make the document more comprehensive, the Ministry of Tourism would like to invite feedback/comments/suggestions on the draft National Strategy and Roadmap. The comments may be forwarded to the Ministry of Tourism on or before 30th June, 2021 at e-mail IDs : js.tourism@gov.in, bibhuti.dash72@gov.in, prakash.om50@nic.in.

Feedback invited by Tourism Ministry on the draft National Strategy and Roadmap for promotion of MICE Industry in India

The Ministry of Tourism has recognized the immense potential of MICE and has been actively working on promotion and development of this niche area of tourism. The Ministry of Tourism had accordingly formulated a Draft National Strategy and Roadmap for Promotion of MICE Industry in India, which can be accessed from the following link https://tourism.gov.in/sites/default/files/2021-06/Draft%20Strategy%20for%20MICE%20tourism%20June%2012.pdf also available on Ministry of Tourism’s website https://tourism.gov.in/ under “what’s new” section.

Before proceeding to finalize the draft strategy document and to make the document more comprehensive, the Ministry of Tourism has invited feedback/comments/suggestions on the draft National Strategy and Roadmap. The comments may be forwarded to the Ministry of Tourism on or before 30th June, 2021 at e-mail IDs : js.tourism@gov.in, bibhuti.dash72@gov.in, prakash.om50@nic.in.

MICE is an acronym for Meetings, Incentives, Conferences and Exhibitions. MICE is one of the important segments of business tourism, which also overlaps with leisure tourism. It is one of the fast-growing segments and brings several advantages to the country. Despite having huge potential, India’s position is relatively low with just about 1% of global MICE business. On the other hand, India has a huge outbound MICE market and is growing significantly.

CCI approves acquisition of Magma HDI General Insurance Company Limited

The Competition Commission of India (CCI) approves acquisition in Magma HDI General Insurance Company Limited (Magma HDI) by India Advantage Fund S4 I (IAF S4 I) & Dynamic India Fund S4 US I (DIF) through a special purpose vehicle and by NHPEA Trisul Holding B.V (NTH).

The following Proposed Combination involving an acquisition of is approved by CCI:

an effective combined interest of less than 25% (on a fully diluted basis) of the share capital of Magma HDI by IAF S4 I and DIF, acting through a special purpose vehicle (SPV-I) (IAF/DIF Transaction); and
an effective combined interest of less than 10% (on a fully diluted basis) of the share capital of Magma HDI by NTH (NTH Transaction).

The IAF/DIF Transaction and the NTH Transaction are collectively referred to as the ‘Proposed Combination’

IAF S4 I and DIF, acting through special purpose vehicle (SPV-1/Acquirer-1): SPV-I is a private limited company incorporated under the Indian Companies Act, 2013, in accordance with the IRDAI (Investment by Private Equity Funds in Indian Insurance Companies) Guidelines, 2017 for the purpose of investing in the share capital of the Target.

NTH/Acquirer-2: NTH is an investment holding company which ultimately belongs to a fund managed or controlled by an affiliate of Morgan Stanley. Morgan Stanley, a financial holding company, is a global financial services firm that maintains market positions in each of its business segments- Institutional Securities, Wealth Management and Investment Management.

Magma HDI/Target: Magma HDI is engaged in the non-life insurance business in India only. Magma HDI offers products across various categories including Motor, Health, Personal Accident, Home, Fire, etc. in the general insurance sphere.

Detailed order of the CCI will follow.

Validity of Documents(driving licence[DC] & registration certificate[RC] Related to Motor Vehicles Act, 1988 and Central Motor Vehicle Rules, 1989 extended till 30th September, 2021

In a bid to help citizens in availing transport related services while maintaining social distancing, the Ministry of Road Transport & Highways has further extended validity of documents related to Motor Vehicles Act, 1988 and Central Motor Vehicle Rules, 1989 till 30th September, 2021.

The Ministry of Road Transport and Highways had issued advisories dated 30th March, 2020, 9th June, 2020, 24th August, 2020, 27th December, 2020 and 26th March, 2021 regarding the same. It was advised that the validity of Fitness, Permit (all types), License, Registration or any other concerned document(s) might be treated to be valid till 30th June, 2021.

This covers all documents whose validity has expired since 1st Feb, 2020 or would expire by 30th Sept 2021. Enforcement authorities are advised to treat such documents valid till 30th of Sept 2021. This will help out citizens in availing transport related services, while maintaining social distancing.

Validity of Udyog Aadhaar Memorandum extended from 31st March, 2021 to 31st December, 2021

The Ministry of Micro, Small and Medium Enterprises has issued an amendment to the original notification No. S.O. 2119 (E) dated 26.06.2020 vide 2347(E) dated 16.06.2021, extending the validity of EM Part-II and Udyog Aadhaar Memorandum from 31.03.2021 to 31.12.2021. This would facilitate the holders of EM Part-II and Udyog Aadhaar Memorandum to avail benefits of the provisions under various existing schemes and incentives including Priority Sector Lending benefits of MSME.

Considering the hardships faced by MSMEs during the prevailing COVID-19 situation and the representations received from the various MSME associations, financial institutions and Government departments dealing with the interest of MSME Sector, the said amendment has been carried out.

It is expected that existing EM Part-II and UAM holders would be able to migrate to the new system of Udyam Registration, which was launched on 1st July, 2020, and would avail the benefits of Government Schemes, thereby paving the way for strengthening MSMEs and leading to their faster recovery, boost to their economic activity and creation of jobs.

Interested enterprises can register on https://udyamregistration.gov.in free of cost and without any documents. Only PAN and Aadhaar are required for registration on the Udyam portal.

Cable Television Network Rules amended

The Central Government today issued a notification amending the Cable Television Network Rules, 1994 thereby providing a statutory mechanism for redressal of grievances/complaints of citizens relating to content broadcast by television channels in accordance with the provisions of the Cable Television Network Act, 1995.

At present, there is an institutional mechanism by way of an Inter-Ministerial Committee to address grievances of citizens relating to violation of the Programme/Advertising Codes under the Rules. Similarly, various broadcasters have also developed their internal self-regulatory mechanism for addressing grievances. However, a need was felt to lay down a statutory mechanism for strengthening the grievance redressal structure. Some broadcasters had also requested for giving legal recognition to their associations/bodies. The Hon’ble Supreme Court in its order in WP(C) No.387 of 2000 in the matter of “Common Cause Vs Union of India & Others” while expressing satisfaction over the existing mechanism of grievance redressal set up by the Central Government, had advised to frame appropriate rules to formalize the complaint redressal mechanism.

In the aforementioned background, the Cable Television Network Rules have been amended to provide for this statutory mechanism, which would be transparent and benefit the citizens. At the same time, self-regulating bodies of broadcasters would be registered with the Central Government.

At present there are over 900 television channels which have been granted permission by the Ministry of Information and Broadcasting all of which are required to comply with the Programme and Advertising Code laid down under the Cable Television Network Rules. The above notification is significant as it paves the way for a strong institutional system for redressing grievances while placing accountability and responsibility on the broadcasters and their self-regulating bodies.

Common Format for Issuance of PUC (Pollution Control Certificate) Across the Country notified

Ministry of Road Transport & Highways has issued a notification dated 14thJune, 2021 for a common format of the PUC (Pollution Under Control) Certificate to be issued across the country, under Central Motor Vehicle Rules 1989.The salient features of the PUCC are as under-

(a) Introduction of uniform Pollution Under Control Certificate (PUC) format across the country and linking the PUC database with the National Register.

(b) The concept of Rejection slip is being introduced for the first time. A common format of rejection slip is to be given to the vehicle owner in case the test result value is more than the maximum permissible value, as mandated in the concerned emission norms. This document can be shown at the service centre for getting the vehicle serviced or can be used, in case the PUCC centre device is not working properly when tested at another centre.

(c) There will be confidentiality of information viz. (i) Vehicle owner’s mobile number, name and address (ii) engine number and chassis number (only the last four digits to be visible, the other digits shall be masked)

(d) The owner’s mobile number has been made mandatory, on which an SMS alert will be sent for validation and fee.

(e) If the enforcement officer has reason to believe that a motor vehicle is not complying with provisions of Emission standards, he may communicate in writing or through electronic mode to direct the driver or any person in-charge of the vehicle to submit the vehicle for conducting the test in any one of the authorized Pollution Under Control (PUC) testing stations. If the driver or person in-charge of the vehicle fails to submit the vehicle for compliance or the vehicle fails to comply, the owner of the vehicle shall be liable for payment of penalty.

If the owner fails to comply with this, the registering authority shall, for reasons to be recorded in writing, suspend the certificate of registration of the vehicle and any permit granted, until such time a valid “Pollution under Control “certificate is generated.

(f) Thus, enforcement would be IT-enabled and would help in better control over polluting vehicles.

(g) The QR code shall be printed on the form. It will contain the complete information about the PUC Centre.

IIT Bombay Hosts Conference of BRICS Network Universities

A three day virtual Conference of BRICS Network Universities on the theme of electric mobility was inaugurated at IIT Bombay today. This conference is part of the engagements that India is hosting under the education stream during its Chairship of the 13th BRICS Summit this year. Eighteen experts from Brazil, Russia, India, China and S. Africa will talk about various aspects of electric mobility like traffic management, hydrogen technology, hybrid vehicles, lithium-ion batteries and linkage between e-mobility and livelihoods over the next three days. Over 100 students, researchers and faculty from the BRICS Network Universities of the five member countries are expected to participate in the conference.

Delivering the plenary address Shri Nitin Gadkari, India’s Union Minister for Road Transport & Highways and Micro Small & Medium Enterprises said that the transport sector in India is transforming rapidly with the growing use of biofuels in all kinds of vehicles ranging from trucks to e-rickshaws, bicycles, e-carts and e-food stalls. The country has also made a lot of progress with regard to low cost battery technology, he said. This transformation is not only good for the sustainability and health of the environment, but is also opening up new livelihoods in the country. Shri Gadkari called upon IITs in the country to take on research in innovative technology that can further revolutionize e-mobility. The Minister also called for greater research cooperation among the BRICS countries in this sector.

BRICS Network University is a union of higher education institutions of the five BRICS member countries, formed with the objective of enhancing educational cooperation in general, and especially in the realm of research and innovation . IIT Bombay is the lead institution of India for the BRICS Network University.

‘6.17% Government Stock 2021’ to be repaid on 15th July 2021

The repayment of Government stock is due as per details given below:

Table: Details of GoI Security maturing on July 15, 2021
Sl. No.	Name of Security	Scheduled Date of Repayment	Effective date of Repayment	No Interest Accrual from scheduled date of Repayment
(1)	(2)	(3)	(4)	(5)
1	6.17% Government Stock 2021’	July 15, 2021 (Thursday)	July 15, 2021 (Thursday)	July 15, 2021 (Thursday)

The outstanding balance under ‘6.17% Government Stock 2021’ will be repayable on the effective date of repayment i.e. 15th July 2021. In the event of a holiday being declared on an effective day of repayment by any State Government under the Negotiable Instruments Act, 1881, the Loan/s will be repaid by the paying offices in that State on the previous working day.

As per sub-regulations 24(2) and 24(3) of Government Securities Regulations, 2007 payment of maturity, proceeds to the registered holder of Government Security held in the form of Subsidiary General Ledger or Constituent Subsidiary General Ledger account or Stock Certificate, shall be made by a pay order incorporating the relevant particulars of his bank account or by credit to the account of the holder in any bank having facility of receipt of funds through electronic means.

For the purpose of making payment in respect of the securities, the original subscriber or the subsequent holders of such Government Securities, shall submit the relevant particulars of their bank account well in advance. However, in the absence of relevant particulars of bank account/mandate for receipt of funds through electronic means, to facilitate repayment of the Loan on the due date, holders may tender the securities, duly discharged, at the Public Debt Offices, Treasuries/Sub-Treasuries and branches of State Bank of India (at which they are effaced / registered for payment of interest) 20 days in advance of the due date for repayment.

MoU signed between Ministry of Ports, Shipping and Waterways and Ministry of Culture for Cooperation in Development of NMHC at Lothal, Gujarat

The Union Ministry of Ports, Shipping and Waterways (MoPSW) and Ministry of Culture (MoC) have signed a Memorandum of Understanding (MoU) for ‘Cooperation in Development of National Maritime Heritage Complex (NMHC) at Lothal, Gujarat’ today. Union Minister of State (I/C) for Ports, Shipping and Waterways Shri Mansukh Mandaviya and Union Minister of State (I/C) for Culture Shri Prahlad Singh Patel were present during the MoU signing ceremony held at Transport Bhawan, New Delhi.

National Maritime Heritage Complex, a world-class facility is to be developed in the vicinity of the ASI site of Lothal, located about 80 kms away from Ahmedabad, Gujarat. NMHC would be developed as an international tourist destination, where the maritime heritage of India from ancient to modern times would be showcased and an edutainment approach using the latest technology would be adopted to spread awareness about India’s maritime heritage. For developing the project, the land transfer formalities have been completed and all land related clearances including environment clearance are in place.

NMHC would be developed in an area of about 400 acres with various unique structures such as National Maritime Heritage Museum, Light House Museum, Heritage Theme Park, Museum Themed Hotels & Maritime themed eco-resorts, Maritime Institute etc. which would be developed in a phased manner.

The unique feature of NMHC is the recreation of ancient Lothal city, which is one of the prominent cities of the ancient Indus valley civilization dating to 2400 BC. Apart from that, the evolution of India’s Maritime Heritage during various eras would be exhibited through various galleries. NMHC would have a pavilion for each coastal state and union territories to showcase the artifacts/maritime heritage of the respective states and union territories.

Various theme parks would be developed at NMHC such as Maritime & Naval Theme Park, Monuments Park, Climate Change Theme Park, Adventure & Amusement Theme Park through public-private partnership which would provide a complete tourist destiny experience to the visitors.

Net Direct Tax collections for the Financial Year 2021-22 represents an increase of 100.4%

The figures of Direct Tax collections for the Financial Year 2021-22, as on 15.06.2021 show that net collections are at Rs.1,85,871 crore compared to Rs. 92,762 crore over the corresponding period of the preceding year, representing an increase of 100.4% over the collections of the preceding year. The net Direct Tax collections include Corporation Tax (CIT) at Rs. 74,356 crore (net of refund) and Personal Income Tax(PIT) including Security Transaction Tax(STT) at Rs. 1,11,043 crore (net of refund).

The Gross collection of Direct Taxes(before adjusting for refunds) for the F.Y. 2021-22 stands at Rs. 2,16,602 crore compared to Rs. 1,37,825 crore in the corresponding period of the preceding year. This includes Corporation Tax(CIT) at Rs. 96,923 crore and Personal Income Tax (PIT) including Security Transaction Tax(STT) at Rs. 1,19,197 crore. Minor head wise collection comprises Advance Tax of Rs. 28,780 crore, Tax Deducted at Source of Rs.1,56,824 crore, Self-Assessment Tax of Rs. 15,343 crore; Regular Assessment Tax of Rs. 14,079 crore; Dividend Distribution Tax of Rs.1086 crore and Tax under other minor heads of Rs. 491 crore.

Despite extremely challenging initial months of the new Fiscal , the Advance Tax collections for the first quarter of the F.Y. 2021-22 stand at Rs. 28,780 crore against Advance Tax collections of Rs. 11,714 crore for the corresponding period of the immediately preceding Financial Year, showing a growth of approximately 146%. This comprises Corporation Tax(CIT) at Rs. 18,358 crore and Personal Income Tax (PIT) at Rs. 10,422 crore. This amount is expected to increase as further information is received from Banks. Refunds amounting to Rs. 30,731 crore have also been issued in the F.Y. 2021-22.

CCEA approves Nutrient Based Subsidy (NBS) rates for Phosphatic & Potassic (P&K) Fertilisers for the year 2021-22

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi has approved the proposal of the Department of Fertilizers for fixation of Nutrient Based Subsidy Rates for P&K Fertilizers for the year 2021-22(till the present season).The approved rates for NBS effective from the date of notification shall be as under:

Per Kg Subsidy rates (in Rs.)

N (Nitrogen)

P(Phosphorus)

K(Potash)

S(Sulphur)

18.789

45.323

10.116

2.374

The Government of India is making available fertilizers, namely Urea and 22 grades of P&K fertilizers (including DAP) to farmers at subsidized prices through fertilizer manufacturers/ importers. The subsidy on P&K fertilizers is being governed by NBS Scheme w.e.f. 01.04.2010. In accordance with its farmer friendly approach, the Government is committed to ensure the availability of P&K fertilizers to the farmers at affordable prices. The subsidy is released to fertilizer companies as per NBS rates so that they can make available fertilizers to farmers at affordable price.

Government is fully sensitive to the concerns of farmers also and is already taking steps to tackle the situation so that the farming community can be saved from the effects of this price rise of P&K fertilizers (including DAP). Accordingly, as a first step, the Government has already directed all the fertilizers companies to ensure the sufficient availability of these fertilizers in the market for farmers. Availability of fertilizers in the country is being monitored by the Government.

On the pricing front of DAP, the Government has already asked all the fertilizer companies to sell their old stocks of DAP etc. at the old prices only. Additionally, it was agreed by the Government that the country and its citizens (including farmers) are passing through unprecedented times due to the sudden surge in the second wave of COVID pandemic. Gol has already announced various special packages considering the hardships faced by the people during the COVID – 19 pandemic.

In a similar manner, considering this crisis of pricing of DAP in India as an extraordinary situation & distress for the farmers, Gol has increased the subsidy rates under NBS Scheme as a special package for farmers in such a way that MRP of DAP (including other P&K fertilisers) can be kept at the last year’s level till the present Kharif season. This has been done as a one-time measure as COVID -19 package to reduce the hardships of farmers. As anticipated that international prices may come down in a few months, Gol may review the situation accordingly and decide regarding subsidy rates at that point of time. The estimated additional subsidy burden for such an arrangement will be around Rs 14,775 crore.

Deep Ocean Mission gets Cabinet Committee on Economic Affairs approval

The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi, has approved the proposal of the Ministry of Earth Sciences (MoES) on “Deep Ocean Mission”, with a view to explore the deep ocean for resources and develop deep sea technologies for sustainable use of ocean resources.

The estimated cost of the Mission will be Rs. 4077 crore for a period of 5 years to be implemented in a phase-wise manner. The estimated cost for the first phase for the 3 years (2021-2024) would be Rs.2823.4 crore. Deep Ocean Mission will be a mission mode project to support the Blue Economy Initiatives of the Government of India. The Ministry of Earth Sciences (MoES) will be the nodal Ministry implementing this multi-institutional ambitious mission.

The Deep Ocean Mission consists of the following six major components:

Development of Technologies for Deep Sea Mining, and Manned Submersible: A manned submersible will be developed to carry three people to a depth of 6000 metres in the ocean with a suite of scientific sensors and tools. Only a very few countries have acquired this capability. An Integrated Mining System will be also developed for mining Polymetallic Nodules from 6000 m depth in the central Indian Ocean. The exploration studies of minerals will pave the way for commercial exploitation in the near future, as and when commercial exploitation code is evolved by the International Seabed Authority, an UN organization. This component will help the Blue Economy priority area of exploring and harnessing of deep sea minerals and energy.
Development of Ocean Climate Change Advisory Services: A suite of observations and models will be developed to understand and provide future projections of important climate variables on seasonal to decadal time scales under this proof of concept component. This component will support the Blue Economy priority area of coastal tourism.
Technological innovations for exploration and conservation of deep-sea biodiversity: Bio-prospecting of deep sea flora and fauna including microbes and studies on sustainable utilization of deep sea bio-resources will be the main focus. This component will support the Blue Economy priority area of Marine Fisheries and allied services.
Deep Ocean Survey and Exploration: The primary objective of this component is to explore and identify potential sites of multi-metal Hydrothermal Sulphides mineralization along the Indian Ocean mid-oceanic ridges. This component will additionally support the Blue Economy priority area of deep sea exploration of ocean resources.
Energy and freshwater from the Ocean: Studies and detailed engineering design for offshore Ocean Thermal Energy Conversion (OTEC) powered desalination plant are envisaged in this proof of concept proposal. This component will support the Blue Economy priority area of off-shore energy development.
Advanced Marine Station for Ocean Biology: This component is aimed at the development of human capacity and enterprise in ocean biology and engineering. This component will translate research into industrial application and product development through on-site business incubator facilities. This component will support the Blue Economy priority area of Marine Biology, Blue trade and Blue manufacturing.

Asian Development Bank and India sign $484 million loan to upgrade road network in Tamil Nadu

The Asian Development Bank (ADB) and the Government of India here today signed a $484 million loan to improve transport connectivity and facilitate industrial development in the Chennai–Kanyakumari Industrial Corridor (CKIC) in the state of Tamil Nadu. CKIC is part of India’s East Coast Economic Corridor (ECEC), which stretches from West Bengal to Tamil Nadu and connects India to the production networks of South, Southeast, and East Asia. ADB is the lead partner of the Government of India in developing ECEC. Mr.Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, signed agreement for the Tamil Nadu Industrial Connectivity Project on behalf of the Government of India, while Mr. Takeo Konishi, Country Director for ADB in India, signed for ADB.

The project will upgrade about 590 km of state highways in the CKIC influence areas that cover 23 of the 32 districts between Chennai and Kanyakumari in Tamil Nadu. Enhanced connectivity of industrial hubs with hinterland and ports will particularly help increase the participation of Indian manufacturing in global production networks and global value chains, thereby creating jobs along the corridor.

In line with Strategy 2030, ADB’s long-term corporate strategy, the project emphasises sustainability, climate change resilience, and road safety elements. Seven-year contracts are provided for long-term maintenance of road projects. Climate change adaptation measures will be incorporated in highway upgrades, including improved drainage, raised road embankments in critical sections, and resizing of bridges and culverts. The project will also strengthen road safety improvement programs through advanced technologies for road monitoring and enforcement. In addition, the project will help improve the planning capacity of Tamil Nadu’s Highways and Minor Ports Department.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

SEBI relaxes requirement of minimum vesting period in case of death of employee(s) under SEBI (Share Based Employee Benefit) Regulations, 2014

Presently, regulation 18(1) and 24(1) of the SEBI (Share Based Employee Benefit)

Regulations, 2014 (“SBEB Regulations”) provides that there shall be a minimum vesting period of one year in case of employee stock options (“options”) and stock appreciation rights (“SAR”). Further, regulation 9(4) of the SBEB Regulations states that in the event of death of the employee while in employment, all the options, stock appreciation rights or any other benefit granted to him/her under a scheme till such date shall vest in the legal heirs or nominees of the deceased employee.

In view of the COVID 19 pandemic situation, to provide relief to the families of the deceased employees of listed companies ,it has been decided as under:

The provisions under the SBEB Regulations relating to minimum vesting period of one year shall not apply in case of death (for any reason) of an employee and in such instances all the options, stock appreciation rights or any other benefit granted to such employee(s) shall vest with his/her legal heir or nominee on the date of death of the employee; and
This relaxation shall be available to all such employees who have deceased on or after April 01, 2020.

A copy of this circular is available on SEBI website at http://www.sebi.gov.in under the categories “Legal Framework/Circulars.”

MSME Registration process simplified

Addressing a webinar of SMEStreet GameChangers Forum on Tuesday, Shri Gadkari announced simplification of the process for registration of Micro, Small and Medium Enterprises .He said that now only PAN and Aadhaar will be required for registration of MSMEs. The Minister added that after getting registered, the MSME unit will be getting priority and finance. He said that there is a need to impart training to small units in fields of entrepreneurship and other related aspects. He assured full support of the MSME Ministry, and also expressed hope that banks and NBFCs will also provide full support to small businesses.

Author: CS SURBHI SAXENA