Business Daily News

PM Modi Calls the Inclusion of Retail, Wholesale Traders as MSMEs ‘landmark’ Step, Says Committed to Empowering Traders.

Prime Minister Narendra Modi termed revised guidelines for MSMEs as a landmark step. He said that this move would help the traders boost business. It would also give them various benefits. Traders were waiting for this decision for since long.

Union Minister of MSMEs and Road Transport and Highways, Nitin Gadkari on Friday announced revised guidelines for MSMEs with the inclusion of retail and wholesale trade as MSMEs. Official sources explain that the move will have an immediate impact on smaller retailers and wholesalers with businesses up to Rs. 2.5 crores. He tweeted that retailers and wholesalers will come under the definition of MSMEs.

Earlier traders and wholesalers were facing lots of problems when they were not considered MSMEs.While applying for the loan they were not considered in the definition of MSMEs and hence never get any financial benefit out of it. Now every business person can get the benefits for the same. This is really an appreciable step for all traders and businessmen.

What is Udyam Registration Portal?

udyam portal

Udyam Registration Portal helps the business person to get the Government tenders. Due to Udyam, the loans get cheaper. The interest rate on these loans is up to 1.5% lower than the interest rate on regular loans. For the facilities, Higher preference is always given to businesses that are registered under Udyam for Government licence and certification.

All the traders and wholesalers will now be able to register themselves on the Udyam portal under newly revised guidelines.

How much time does it take?

Udyam registration takes around four to five working days for the issuance of the certificate. Usually, you get an email alert with the registration number and important details regarding the certification.

Is GST mandatory for Udyam MSME registration?

No, the GSTIN number is not mandatory for registration. The Ministry of Micro, Small, and Medium Enterprises notified that there is no need for GSTIN for MSME Udyam registration.

With this Traders will be availing of immediate-term finance as part of various schemes announced under the “Atma-nirbhar Bharat” program. this landmark decision will have a structural impact on the sector. It will be further formalized by giving better finance options for businesses that went to get structured. In addition to it, it will give retail MSMEs the support they need to survive, revive and thrive.

Interestingly, Retail and trade associations have welcomed the move. They say it will enable traders to get access to needed capital having been impacted greatly due to the pandemic.

For more such updates, keep watching this space!

Advices COVID-19 Daily News

PM Narendra Modi announces free vaccination.

Prime Minister Narendra Modi made an announcement today regarding the vaccination drive against coronavirus. He pays his condolences to the family of the deceased and his gratitude to the front-line workers. While remarking on the importance of vaccination in the fight against coronavirus, he encouraged people to not believe in rumors and come forward for vaccination.

What are the announcements?

He announced a list of relief decisions today for the vaccination drive against coronavirus.

vaccination

He said that the center will take over the complete responsibility of vaccination from the states. The center will procure the vaccination from the manufacturers and deliver it to states. Every citizen above 18 years of age will get free vaccination from 21 June 2021. On this day, we celebrate International Yoga Day every year.

For Private Hospitals:

Private Vaccine centers are allowed to procure 25 percent of vaccine stock from the manufacturers. However, they can charge only up to ₹150 as a service charge over the predetermined cost of vaccines.

Pradhan Mantri Garib Kalyan Yojana will continue in effect till Diwali this year. Poor households will get free ration every month till November 2021. This move will provide food to 80 crore Indians.

PM Narendra Modi also said that seven vaccines are being manufactured in the country. Out of seven, there are three vaccines in advanced trials. Two vaccines for children and a nasal vaccine are also under trial. Also, vaccine procurement from other countries increases.

He asked people to stay vigilant against vaccination rumors and fearmongering. He also warned that those who are spreading such rumors are playing with the innocent lives of others.

For more updates like these, keep watching this space!

COVID-19 Daily News Education

PM-CARES for Covid Affected Children

The central government launches a scheme for covid orphans. Those who have lost their parents in the pandemic, such children will get a monthly stipend and much more. PM-CARES scheme for children is specially designed for Covid affected children. Read the full article to get all the information about the scheme.

PM announces- "PM-CARES for children" scheme

There is some excessively big announcement made by the central government. Children will get free health insurance of 5 lac rupees under the Ayushman Bharat scheme till 18 years of age. PM care will pay the premium

Prime Minister Narendra Modi said that it is a great loss to lose parents. And our children represent the future of the country. We will do everything to support and protect the children, he added. It is our duty as a society to care for our children and instill a hope for bright future.

PM-CARES scheme for covid affected children launched on the completion of 7 years of Modi Government. Earlier, we also had BP president making an appeal to chief ministers of BJP ruled state to introduce special schemes for children affected specifically by COVID-19 or orphaned due to COVID-19 and lost their parents.

children below 10 years

Children below 10 years of age – Government will protect and accommodates children below 10 years of age. Such children will put under the childcare of the concerned state government. Their bright future is the utmost priority.

11-18

Children 11-18 years of age – Children of this age group will also have fully funded education. The government will assist the students with education loans for special courses according to the existing norms. The PM-CARES will pay the interest on this loan. In addition, govt. will provide a health insurance cover worth rupees 5 lac.

Children above 18 years of age – During the period of higher education, govt will provide a corpus of rupees 10 lac for the child’s personal requirements from PM-CARES. It is a specially designed scheme.

For more updates like these, keep watching this space!