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12.5 crore jobs created in last 10 years: Union Minister

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12.5 crore jobs created in last 10 years: Union Minister

New Delhi, July 11 (IANS) Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Thursday that while 12.5 crore jobs have been created in the Indian economy during the last 10 years only 2.9 crore jobs were created in the 10 years before 2014.

He told IANS that the figures had been compiled in an SBI report prepared by the bank’s Group Chief Economic Advisor Soumya Kanti Ghosh.

The number of jobs created in the financial years 2014-23 is a more than 4-fold increase from the 2.9 crore jobs created during 2004-14, according to the SBI report.

“Even if we exclude Agriculture, the total number of jobs created in Manufacturing and Services is at 8.9 crores during FY14-FY23 and 6.6 crores during FY04-FY14,” the report states.

The total employment reported by Micro, Small and Medium Enterprises (MSMEs) registered with the MSME Ministry has crossed the 20 crore mark, data from the Udyam registration portal shows.

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As of July 4, 4.68 crore Udyam-registered MSMEs reported 20.19 crore jobs, including 2.32 crore jobs by GST-exempted informal micro-enterprises, up by 66 per cent from 12.1 crore jobs in July last year, showed ERD’s analysis.

–IANS

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Budget will give ample opportunity for parallel growth of MP: CM

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Budget will give ample opportunity for parallel growth of MP: CM

Budget will give ample opportunity for parallel growth of MP: CM

Bhopal, July 23 (IANS) Madhya Pradesh Chief Minister Mohan Yadav hailed Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for the Budget on Tuesday.

The Chief Minister said the Centre has tried to reduce the burden of inflation, especially from the people belonging to lower income categories and salaried class. He said the control over inflation is the need of the hour and PM Modi’s government has taken this step through its Budget.

“The framework of the annual Budget indicates that steps have been taken to keep the growth of the country and its people from every class. This Budget is the vision of ‘Viksit Bharat’ and I congratulate PM Modi and FM Nirmala Sitharaman for the budget,” the Chief Minister said.

He added that the nine-point schemes of the budget, which includes agriculture, employment, economic growth, social justice etc will take the country into new growth in the coming years.

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The Chief Minister expressed hope that the Budget will provide ample opportunity for parallel growth of Madhya Pradesh. “The growth of Madhya Pradesh is part of the growth of the country. I believe that MP will witness growth parallelly,” he added.

Finance Minister Nirmala Sitharaman presented her seventh consecutive Union Budget on Tuesday.

She introduced increased standard deduction and revised tax rates for salaried individuals under the new tax regime and cut on customs duty on gold, silver, mobile phones and other goods were announced.

The Budget has the provision for employment-linked incentives, including one month’s wage support for first-time employees, which has become the need of the hour.

Women-specific skilling programs and increased workforce participation, MSME and manufacturing support and some others are key points of the annual Budget.

–IANS

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This Budget is only for corporate sector: RJD

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This Budget is only for corporate sector: RJD

This Budget is only for corporate sector: RJD

Patna, July 23 (IANS) Rashtriya Janata Dal (RJD) on Tuesday criticised the Central government over the Budget, saying allocating Rs 26, 000 crore to Bihar is not for the common people but for the corporate sector.

“This budget is only for the corporate sector. The Finance Minister has not provided any idea of how the Centre would create jobs for unemployed youth. She has not addressed the issues of youth, farmers, women, and labourers in her budget speech,” said Bhai Virendra, the four-time RJD MLA from the Maner assembly constituency.

Earlier, Finance Minister Nirmala Sitharaman allocated Rs 26,000 crore for various infrastructural projects for the state.

Bhai Virendra said that similar projects have also been announced by previous governments as well. “Bihar needs special category status, which the Central government has denied,” he said.

Former Bihar Chief Minister Rabri Devi said the Central government has given Jhunjhuna (toy) to Bihar.

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“This budget has nothing for the common people of Bihar,” the former Chief Minister said.

However, defending the Central government, BJP MLA Pramod Kumar said that this budget will boost the economy of Bihar through infrastructural projects.

“The Central government has given three expressway projects, a two-lane bridge at Buxar, a power station in Pirpainti, and an industrial hub in Gaya. These projects will develop Bihar, create jobs, and help stop migration,” Pramod Kumar said.

–IANS

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Union Budget-2024 will give a boost to overall economic growth: AiMeD

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Union Budget-2024 will give a boost to overall economic growth: AiMeD

Union Budget-2024 will give a boost to overall economic growth: AiMeD

New Delhi, July 23 (IANS) The Union Budget-2024 is visionary and progressive and will help boost the country’s overall economic growth, said the Association of Indian Medical Device Industry (AiMeD) on Tuesday.

The Union Budget-2024 presented by Finance Minister Nirmala Sitharaman in the Parliament “reflects the determination of Prime Minister Narendra Modi to realise the goal of a $10 trillion economy by 2030 and Viksit Bharat by 2047”, said Rajiv Nath, AiMeD Forum Coordinator, in a statement.

“Nine priorities of the government — productivity and resilience in agriculture; employment and skilling; inclusive human resource and development, and social justice; manufacturing services; urban development; energy security; infrastructure; innovation and research and development; and next-generation reforms – will act as a catalyst for the country’s overall economy,” Nath said.

Nath also thanked the government for “the reduction in duty on the import of components of X-ray equipment until these get to be produced in India”.

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He explained that “the imports of medical devices have consistently been over Rs 61,000 crore for the last three years and regretfully this year have increased by 13 per cent to Rs 69,000 crore”.

Nath noted that AiMed had in January in a representation to the Department of Pharmacy (DoP), raised the issue of an increase in customs duty and removal of benefits for the import of X-ray tube and flat panel detectors under the Phased Manufacturing Programme (PMP).

He said that the relief from the government is “appreciable” as the two critical components lack domestic manufacturers.

He pointed out that AiMeD had hoped for a “nominal duty increase on at least those medical devices that India had substantial manufacturing capacity as demonstrated during Covid-19 pandemic times”.

“Removal of nil duty exemption on some of these medical devices would have acted as a further enabler for Make in India drive and enhance our global competitiveness,” Nath said.

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–IANS

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Glad to know FM has read Congress manifesto, says Chidambaram

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Glad to know FM has read Congress manifesto, says Chidambaram

Glad to know FM has read Congress manifesto, says Chidambaram

New Delhi, July 23 (IANS) After Union Finance Minister Nirmala Sitharaman introduced many schemes while presenting the Budget on Tuesday, former Finance Minister P. Chidambaram said that he is glad to know that the Finance Minister has read the Congress manifesto of 2024 Lok Sabha elections.

“I am glad to know that the Hon’ble FM has read the Congress Manifesto LS 2024 after the election results,” the former Finance Minister wrote on X.

He said that he is also happy that the Finance Minister has virtually adopted the Employment-linked incentive (ELI), which he claimed was outlined on page 30 of the Congress manifesto.

“I am also happy that she has introduced the Apprenticeship scheme along with an allowance to every apprentice spelt out on page 11 of the Congress Manifesto,” the former Finance Minister said.

He also taunted the Finance Minister, saying that he wished that Nirmala Sitharaman had copied some other ideas from the Congress Manifesto.

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“I was pleased to hear that the FM will abolish the Angel Tax. Congress has pleaded for the abolition for many years and most recently in the Congress Manifesto on page 31,” the former Finance Minister wrote on X.

However, he said that he would also shortly list the missed opportunities.

Earlier, Finance Minister Nirmala Sitharaman laid out nine priorities of Prime Minister Narendra Modi’s government in the Budget with a focus on employment, skilling, agriculture and manufacturing.

“In this budget, we focus on employment, skilling, MSMEs and the middle class. Agriculture research will be transformed to focus on raising productivity and climate resilient varieties,” said FM Sitharaman while presenting her seventh Budget.

She said that the people of India have reposed their faith in the government led by PM Modi and re-elected it for a historic third term.

–IANS

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Union Budget 2024: Govt announces over Rs 3 lakh crore for schemes benefiting women & girls

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Union Budget 2024: Govt announces over Rs 3 lakh crore for schemes benefiting women & girls

Union Budget 2024: Govt announces over Rs 3 lakh crore for schemes benefiting women & girls

New Delhi, July 23 (IANS) Focussing on women-led development, the government on Tuesday announced more than Rs 3 lakh crore for schemes benefiting women and girls.

“Increasing the participation of women in the workforce will be a priority,” said Union Finance Minister Nirmala Sitharaman while presenting her seventh Budget.

“This will be facilitated by setting up hostels and creating partnerships to organise women-specific skilling programmes and promotion of market access for women Self Help Group enterprises,” she said.

She said, “We need to focus on the poor, women, youth and farmers.”

Further, the allocation for women’s welfare and empowerment saw a 218.8 per cent jump from FY14 to FY25.

“The growth is indicative of India’s determination to shift from women-led development to women’s development, as stated in the Economic Survey 2023–2024,” the Finance Minister said.

–IANS

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