PM Modi Launches CHAMPIONS
Prime Minister Narendra Modi on June 2 launched the technology platform CHAMPIONS which stands for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength.
As the name suggests,the portal is basically for making the smaller units big by solving their grievances, encouraging, supporting, helping and handholding.It is a real one-stop-shop solution of MSME Ministry.
This ICT based system is set up to help the MSMEs in present difficult situation and also to handhold them to become national and international champions.
Detailed objectives of CHAMPIONS:
- Grievance Redressal: To resolve the problems of MSMEs including those of finance, raw materials, labor, regulatory permissions etc particularly in the Covid created difficult situation;
- To help them capture new opportunities: including manufacturing of medical equipments and accessories like PPEs, masks, etc and supply them in National and International markets;
- To identify and encourage the sparks: i.e. the potential MSMEs who are able to withstand the current situation and can become national and international champions.
Jalashwa Departs Colombo
- Indian Naval Ship Jalashwa departed Colombo, Sri Lanka today (01Jun 20) evening after having embarked 685 Indian nationals and set course for the port of Tuticorin in Tamilnadu.
- The ship, on her third trip as part of Indian Navy’s Operation Samudra Setu under the aegis of Mission Vande Bharat launched by the Government of India; has been engaged in bringing Indian nationals home from foreign shores by the sea route.
MSME Definition Revised For The First Time After 14 Years
The Union Cabinet, chaired by Prime Minister Shri Narendra Modi met on Monday, 1st June 2020. This was the first meeting of the Union Cabinet after the Central Government entered into its second year in office.
During the meeting, historic decisions were taken that will have a transformative impact on the lives of India’s hardworking farmers, MSME sector and those working as street vendors.
Helping Hand To MSMEs
Micro, small and Medium Enterprises popularly called as MSMEs are the backbone of Indian economy. Silently operating in different areas across the country, more than 6 crore MSMEs have a crucial role to play in building a stronger and self-reliant India.
Under this package, the MSME sector has not only been given substantial allocation but has also been accorded priority in implementation of the measures to revive the economy. Implementation relating to several of the key announcements have been made already.
The Government of India has laid down the road map for effective implementation of other announcements under the Atmanirbhar Bharat Package too. These include:
- Upward revision of MSME Definition. This is yet another step towards ease of doing business. This will help in attracting investments and creating more jobs in the MSME sector;
- Proposal for provisioning of Rs 20,000 crore as subordinate debt to provide equity support to the stressed MSMEs has been formally approved by the cabinet today. This will benefit 2 lakh stressed MSMEs.
- Proposal for equity infusion of Rs. 50,000 crores for MSMEs through fund of funds has also been approved by the Cabinet today.
This will establish a framework to help MSMEs in managing the debt-equity ratio and in their capacity augmentation. This will also provide an opportunity to get listed in stock exchanges.
Further Upward Revision Of MSME Definition
- In the package announcement, the definition of micro manufacturing and services unit was increased to Rs. 1 crore of investment and Rs. 5 crore of turnover.
- The limit of small unit was increased to Rs. 10 crore of investment and Rs 50 crore of turnover.
- Similarly, the limit of a medium unit was increased to Rs 20 crore of investment and Rs. 100 crore of turnover.
- It may be noted that this revision was done after 14 years since the MSME Development Act came into existence in 2006.
The Ministry of Housing and Urban Affairs has launched a Special Micro-Credit Facility Scheme – PM SVANidhi (PM स्वनिधि ) – PM Street Vendor’s AtmaNirbharNidhi,for providing affordable loans to street vendors.
This scheme will go a long way in enabling them to resume work and earn livelihoods.
Over 50 lakh people, including vendors, hawkers, thelewalas, rehriwala, theliphadwala etc. in different areas/ contexts are likely to benefit from this scheme.
The goods supplied by them range from vegetables, fruits, ready-to-eat street foods, tea, pakodas, breads, eggs, textiles, apparel, footwear, artisan products, books/ stationaries etc. The services include barber shops, cobblers, pan shops, laundry services etc.
Urban Local Bodies will play pivotal role in the implementation of the scheme.
Igniting the spirit of Jai Kisan
- For the Kharif season 2020-21, the government has kept its promise of fixing the MSP at a level of at least 1.5 times of the cost of production.
- The MSP of 14 crops for the Kharif season 2020-21 has been announced, based on the recommendation of CACP. The return over cost for theses 14 crops ranges from 50% to 83%.
- The Government of India has also decided to extend repayment date up to 31.08.2020 for all Short-Term loans up to Rs.3 lakh advanced for agriculture and allied activities by banks. Farmers will also get benefit of interest subvention and prompt repayment incentive.
- Interest Subvention Scheme (ISS) was started to provide concessional short-term crop loans including loans availed through Kisan Credit Cards to the farmers
Three more States included in One Nation One Card scheme
The Union Minister of Consumer Affairs, Food & Public Distribution Ram Vilas Paswan today announced the inclusion of three more states namely – Odisha, Sikkim and Mizoram in the scheme on ‘Integrated Management of Public Distribution System’ (IM-PDS).Under this system nation-wide portability of the benefits under NFSA through “One Nation One Ration Card” plan is implemented to enable the NFSA ration card holders to lift their entitled quota of subsidised foodgrains from any ePoS enabled FPS of their choice anywhere in the country, by using the existing/same ration card after Aadhaar authentication on ePoS device.
DRDO Develops Ultra Swachh for Disinfection of PPEs
Defence Research and Development Organisation (DRDO) has developed a disinfection unit named Ultra Swachh to disinfect a wide range of materials, including Personal Protective Equipment (PPEs), electronics items, fabrics, etc.
Institute of Nuclear Medicine & Allied Sciences (INMAS), the Delhi based laboratory of DRDO has developed this product with industry partner M/s Gel Craft Healthcare Private Ltd, Ghaziabad.
The system uses an advanced oxidative process comprising of multiple barrier disruption approach using Ozonated Space Technology for disinfection.