Adani News

Tag: Piyush Goyal

  • Piyush Goyal chairs a meeting of bankers on export credit to MSME exporters

    Piyush Goyal chairs a meeting of bankers on export credit to MSME exporters

    New delhi. Piyush Goyal has asked the Indian banks to ensure enhanced and affordable credit to MSMEs to achieve the target of 1 trillion dollar merchandise exports. This was stated in a meeting called to discuss the issue of increasing the availability of export credit to the MSME exporters. The meeting was convened by the Department of Commerce in coordination with Export Credit Guarantee Corporation Limited, (ECGC), in New Delhi yesterday. It was attended by the top officials of 21 banks which included State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, Union Bank of India, Bank of India and Central Bank of India.

    A presentation on ‘Export Credit and Export Credit Insurance for Banks (ECIB)’ was made by CMD ECGC, M. Senthilnathan. Based on ECGC’s experience under the scheme of enhanced cover, ECGC has now proposed further modifications to make available adequate and affordable credit to a larger section of MSME exporters. The product facilitates the borrower accounts to be treated equivalent to ‘AA’ rated account with reduced cost of export credit to the exporters.

    In the meeting, Piyush Goyal said that the ECGC can examine the extension of the scheme proposed for nine banks, to all the banks, so that the export credit offtake for the MSME Exporters can be increased.

    Bankers suggested that ECGC should adopt claim processing method similar to Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) for which Commerce and Industry Minister advised ECGC to follow a pattern on similar lines to compensate their loss.

    The Minister advised the banks to take advantage of the proposed scheme and extend adequate and affordable export credit to MSME exporters. This would enable the country to achieve its target of USD 1 trillion merchandize exports by 2030. The Minister also advised ECGC to examine 75% claim payment to banks under the ECIB scheme, within 45 days of receiving the claim. It was further informed by the Minister that in the next four months, all the ECGC services would be digitized, so that physical interaction can be minimized.

  • Union Commerce and Industry Minister Piyush Goyal chairs meeting on PM GatiShakti with DPIIT and Eight Ministries

    Union Commerce and Industry Minister Piyush Goyal chairs meeting on PM GatiShakti with DPIIT and Eight Ministries

    New delhi. Union Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution and Textiles, Piyush Goyal said that PM GatiShakti must be effectively leveraged using the Area Development Approach to extend benefits to the nation beyond the infrastructure sector. Shri Goyal chaired a meeting to review the progress of PM GatiShakti with DPIIT and eight concerned ministries in New Delhi last evening. The Minister emphasized upon the participating Ministries/Departments to harness the full potential of the integrated platform to further accelerate India’s infrastructure and economic growth.

    Goyal said that the Agriculture sector can be supported by setting up common facilities on agricultural lands by cooperatives and start-ups using the integrated framework of PM GatiShakti and data from the National Master Plan (NMP). The Minister highlighted that the Area Development Approach under PM GatiShakti can be used for engaging with aspirational districts of NITI Aayog.

    Besides senior officials from the Department for Promotion of Industry and Internal Trade (DPIIT), the meeting saw representation from M/o Road Transport and Highways, M/o Railways, M/o Ports, Shipping and Waterways, M/o Civil Aviation, M/o Power, M/o Petroleum and Natural Gas, Department of Telecommunication (DoT), M/o New and Renewable Energy, Bhaskaracharya National Institute for Space Applications and Geo-informatics (BISAG-N) and National Industrial Corridor Development Corporation (NICDC).

    Special Secretary, DPIIT, Sumita Dawra presented the progress of PM GatiShakti in terms of improving the data quality of the NMP, standardizing data layers and establishing Quality Improvement Plan (QIP) mechanism for better planning. To encourage usage of NMP for social sector planning, five new Ministries are proposed to be on-boarded on PM GatiShakti, in addition to fourteen social sector Departments/Ministries already onboard, to augment the socioeconomic development in the country.  In addition to improving the domestic logistics ecosystem, DPIIT is progressively working towards improving the EXIM logistics. An EXIM Logistics Group has been formed with other concerned Departments/Ministries. An action plan for improving the country’s performance on each of the Logistics Performance Index (LPI) parameters of the World Bank report will be formulated and executed soon. Efforts are also being made to ensure end-to-end multi-modal tracking of cargo by integrating Unified Logistics Interface Platform (ULIP) with GSTN data. In order to impart wider understanding and adoption, capacity building of officials at States level is also planned through training modules on PM GatiShakti at Central Training Institutes.

    Considering Infrastructure as a growth engine and need for a ‘whole of government’ approach for Infrastructure development, the PM GatiShakti National Master Plan (NMP) was launched in October 2021.

  • Modi government’s big decision, MSP of many crops has been increased

    Modi government’s big decision, MSP of many crops has been increased

    New Delhi. Maximum 10.4% on minimum support price of moong dal, 9% on groundnut, 10.3% on sesamum, 7% on paddy, sorghum, millet, ragi, table, arhar dal, urad dal, soyabean, sunflower seed FY 2023- An increase of about 6-7% has been projected for 2024. Union Minister Piyush Goyal has said this.

    The Union Cabinet in its meeting on 7th June has approved to increase the Minimum Support Price (MSP) of Tur (Arhar) Dal, Urad Dal, Paddy and Maize. Apart from this, giving relief to the farmers, MSP has also been increased on many other crops including groundnut, soyabean. In fact, the Union Cabinet has approved the increase in the Minimum Support Price (MSP) for Kharif crops for the year 2023-24. The Union Cabinet approved an increase of Rs 143 to Rs 2,183 per quintal in the minimum support price of paddy for 2023-24. The minimum support price of moong was increased the most to Rs 8,558 per quintal.

    Union minister Piyush Goyal said the move is to ensure remunerative prices to growers for their produce and encourage crop diversification. There is an increase of 8.9 percent in the MSP of cotton, while the minimum support price of sunflower and soybean has also been increased. The cabinet has approved an increase of Rs 400 per quintal in the MSP of Toor Dal. Now the MSP of Toor Dal has gone up to Rs 7,000 per quintal. Similarly, an increase of Rs 350 per quintal has been approved in the MSP of Urad Dal, after which it has been increased to Rs 6950 per quintal.

    Earlier, the central government had removed the limit of 40 per cent procurement under the Price Support Scheme (PSS) for three pulses – tur, urad and masoor in the crop year 2023-24 (July-June). The government has taken this step to increase domestic production. The Food and Consumer Affairs Ministry said on Tuesday that this year farmers would be able to sell their tur, urad and masoor produce in any quantity under the PSS.

  • Piyush Goyal said, irresponsible opposition deliberately stalling the Parliament

    Piyush Goyal said, irresponsible opposition deliberately stalling the Parliament

    Union minister Piyush Goyal on Tuesday accused the Opposition of willfully stalling Parliament with its “irresponsible” comments and “unfounded” allegations to mislead the country amid global recognition of Prime Minister Narendra Modi’s leadership.

    Goyal, joined by Parliamentary Affairs Minister Pralhad Joshi, accused the Opposition of repeatedly insulting Rajya Sabha Chairperson Jagdeep Dhankhar by refusing to even meet him.

    Even on Tuesday, some parties including the Congress did not attend the meeting called by him. Though they were present in the meeting called by Speaker Om Birla, he alleged.

    The Congress hit back at Goyal, saying this accusation is coming from the Leader of the House who got his MPs to prevent Leader of Opposition in Rajya Sabha Mallikarjun Kharge from speaking twice after the Chairman had permitted him.

    “Piyush Goyal is accusing Oppn of boycotting meeting called by Chairman RS. This is from the Leader of the House who got his MPs to prevent LoP Kharge ji from speaking twice after Chairman had permitted him. Silencing of LoP is also an issue quite apart from the JPC on Adani,” Congress general secretary Jairam Ramesh said on Twitter.

    In another tweet, Ramesh said, “How can the Oppn demand for a JPC into the PM-linked Adani scam be linked to the BJP’s demand for an apology from Rahul Gandhi on totally baseless accusations. The JPC is on a real, documented scam. The apology demand is a hoax being raised to divert attention from the Adani scam.” Ramesh said this morning Leader of the Opposition in Rajya Sabha, Kharge was given permission by the Chairman to speak and got up to do so but was not allowed by sloganeering BJP MPs.

    “Chairman then adjourned RS. How can the logjam be broken if Modi Government behaves like this,” he said.

    Goyal told reporters that at a time when the Union budget has drawn all-round praise, Modi is being recognised as the most popular leader in the world and the BJP has won polls in northeast states, opposition parties, especially the Congress and its allies, are trying to mislead the country.

    His attack on the Opposition came after a Business Advisory Committee meeting called by the Rajya Sabha chairperson and an all-party meeting called by the Lok Sabha speaker failed to offer any breakthrough in breaking the continuing impasse in Parliament’s budget session.

    With Opposition members protesting from the first floor of the Parliament complex, Goyal said they were resorting to petty tactics to remain in headlines as they lacked any solid argument.