February 22, 2023.Reading time less than 1 minute.
Office of KTR:
Telangana Minister KTR inaugurated Welspun India Limited’s advanced textile facility in Chandanvelly, Rangareddy District
With an investment of Rs.500 Cr this facility is The Welspun Group’s 2nd investment in the same vicinity after setting up a flooring unit valued at Rs.1500 Cr 2 yrs ago
There were no industries in Chandanvelly 5 years ago. After The Welspun Group established their facility, Amazon, Kitex, Microsoft and others have come up here
Punjab CM Bhagwant Mann should resign imm if he has interests of Pb at heart.
AAP Punjab govt is leading State to ruin by presiding over the flight of industry besides indulging in scams, including Rs 300 crore advt scam.
Akali Dal appeals to Punjab Governor to probe this scam.
Last 9 months have been worst in history of Punjab with none being safe.
Businessmen being forced to cough up ransoms.
Situation such that leading industrialists approaching UP CM to invest in that state.
Exit of industry from Punjab will result in massive unemployment & civil unrest.
First AAP high command masterminded Rs 500 cr Excise Scam. Now its taking control of real estate & has appointed a ex Delhi ACS & Arvind Kejriwal’s favourite – Satya Gopal as Chairman of RERA, Punjab. This shows extent to which Kejriwal has taken control of Punjab.
The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman today said that the government is working with RBI on the Industry’s need for the restructuring of loans due to the COVID-19 impact.
While addressing the National Executive Committee Meeting (NECM) of the Federation of Indian Chambers of Commerce and Industry (FICCI), Smt. Sitharaman said:
“The focus is on restructuring. Finance ministry is actively engaged with RBI on this. In principle, the idea that there may be a restructuring required, is well taken.”
Elaborating on the extensive consultations on the reform measures that are being announced by the government, Smt. Sitharaman said:
“Every step which is being announced and taken, is taken after exhaustive consultations with the stakeholders and within the government to make sure that no step is going to be a failure because we did not make necessary collateral changes. We have taken these steps to ensure that the impact is felt on the ground.”
Addressing the concerns raised by the FICCI members on the difficulties faced by the MSMEs in taking loans under the Emergency Credit Guarantee Scheme announced by the government, Smt. Sitharaman said that:
“Banks cannot refuse credit to MSMEs covered under emergency credit facility. If refused, such instances must be reported. I will look into it.”
On the FICCI suggestion for creation of a Development Finance Institution to handle the emerging credit requirements of the industry, the Finance Minister said, “The work is going on the Development Finance Institution. What shape it will take, we will know shortly.”
Stressing on the need for reciprocity in trade deals, Smt. Sitharaman said, “Reciprocal arrangements are being asked with the countries with which we have opened up our markets. Reciprocity is a very critical point in our trade negotiations.”
The Finance minister said that the decision on reducing GST rates on the healthcare and other products will be taken by the GST Council.
Smt. Sitharaman said the Finance Ministry is working with RBI on the demand of the hospitality sector for extension of moratorium, or restructuring.
“I fully understand the requirements of the hospitality sector on extension of the moratorium, or restructuring. We are working with RBI on this,” She said.
FICCI President Dr Sangita Reddy appreciated the government’s proactive approach in dealing with the situation.
“While the green shoots of recovery are being seen, sustaining this improvement in the operational parameters of businesses will require continuous support from the government. The support is particularly needed in the realm of strengthening market demand and to boost demand,” said Dr Reddy.
FICCI Senior Vice President Mr Uday Shankar delivered the vote of thanks and said that the chamber would work with the government in mitigating the challenges faced by the industry.
As offices begin to slowly open today, most companies will be exploring what I call ‘Sanjivani solutions’, i.e. a potion for emerging from a Corona-induced coma.
A good time to share some of the thinking of our Group leadership on how we might hit the ground running:
1) Adopt a start-up mindset. Which means: a) Become as lean an Organization as possible b) Nothing is sacred; all business models open for debate. Create ‘feedback loops’ that constantly test product/market assumptions c) Share ideas & data across the company at warp speed
2) Do a Marie Kondo style clean up of the portfolio and bid goodbye to those initiatives which don’t fall into your narrative of a successful future.
3) Raise sufficient capital for the journey of evolution. It’s not a short trip.
Sukhbir Singh Badal, @officeofssbadal – Shiromani Akali Dal President:
During the all party meeting with PM @narendramodi ji to discuss the fight against #Covid_19, raised farmers’ concerns and stressed on the need to announce a reasonable incentive for encouraging them to delay bringing their wheat crop to mandis for sale.
Urged the Prime Ministerto immediately announce a SPECIAL RELIEF PACKAGE for INDUSTRY so that they can plan their future.
Sharing the problems being faced in the health sector in Punjab, I have requested Prime Minister that the Centre should talk to Punjab govt and ensure it upgrades the health infra immediately.
Requested PM to ensure that all banks follow the advices given by @RBI to reduce the stress on people due the unprecedented situation caused by this #Lockdown.
As the migrant labourers aren’t covered under PDS, I have urged the PM to incentivize them so that they can stay back in the State during the #lockdown. Also, requested that the #SGPC & #DSGMC be given food grains at concessional prices to ensure more help to the needy.
As our poultry & dairy farmers as well as the potato & vegetable growers have suffered huge losses due to the #CoronavirusOutbreak, requested PM @narendramodi ji to extend support to all of them to mitigate the impact of #lockdown.
