Rebate On Rent To IT Companies Operating From STPI Campus
Recently, the Government of India gave a four-month building rental exemption to small companies associated with Information Technology (IT) operating in the ‘Software Technology Parks of India- STPI’ campus in the country. Has announced.
According to this government announcement, IT sector companies operating in STPI premises in various cities of India will not have to pay any rent from March 1, 2020 to June 31, 2020.
It is important to note that most of the companies benefiting under this initiative are ‘Micro, Small and Medium Enterprises’ (MSME) or Startup.
Under this initiative, the total estimated cost of four months rent rebate given by the government to IT companies is about Rs 5 crore.
This initiative of the government will benefit about 200 IT, MSME companies operating from 60 STPI centers across the country.
IT sector companies play an important role in the development of the Indian services sector, according to a recently released data, the March 2020 trade of the Indian services sector due to the epidemic of COVID-19 and the lockdown implemented in the country to prevent its spread. There was a decline in
According to the Ministry of Electronics and Information Technology- MeitY, the objective of this government effort is to protect the interests of around 3000 employees in the IT sector, who are directly involved with these MSMEs and startup companies. Has happened.
The western countries provide a big market for these companies with local business of IT companies established in India, but the lockdown currently implemented in most of the countries of the world has had an impact on the business of these companies, so that companies can reduce this pressure. The employees were forced to lay off.
This initiative of the government will reduce the pressure of IT companies along with the support of the government to boost the morale of the industrial sector.
Strict Regulations In Foreign Direct Investment
In view of the challenges posed by COVID-19 recently, the Government of India has introduced ‘Foreign Direct Investment- FDI’ in companies connected to different regions of the country from neighboring countries connected to India’s land border. Government permission has been made mandatory .
According to information provided by the Department for Promotion of Industry and Internal Trade, government permission will be required for all such foreign investments in which investment institutions or individuals benefiting from the investment are from land-sharing countries with India.
However, even after this change, other foreign entities or citizens (other than the countries identified under this change) will be able to invest in areas other than the areas / activities restricted under FDI rules as before.
Currently India shares land borders with 7 countries Pakistan, Afghanistan, Nepal, China, Bhutan, Bangladesh and Myanmar.
In addition, after the current amendment, a citizen or institution of Pakistan will be able to invest in defense, space, nuclear power and other areas other than areas / activities restricted under FDI regulations only after the government’s permission.
Due to strictness on foreign investment:
This decision has been taken by the Central Government to prevent ‘opportunistic takeovers / acquisitions’ of Indian companies amidst the economic pressure created by COVID-19.
Recently, the housing finance company HDFC reported that currently China’s central bank ‘People’s Bank of China’ stake in the company rose to 1.1%.
Increase in investment by Chinese private sector in Indian companies has become a major challenge for Indian regulators, as it is very difficult to differentiate between companies and private sector controlled by the Chinese government.
Many Chinese private sector companies play a major role in government schemes and efforts such as censorship.
Chinese Investment in India:
According to a recently released report, as of 2014, some Chinese investment in Indian companies was a mere US $ 1.6 billion, most of which was investment in infrastructure in China by state-run companies.
By the year 2017, this investment has increased by more than five times to reach US $ 8 billion and in March 2020, the investment of Chinese government and non-government entities in Indian companies had increased to US $ 26 billion.
In 2017, its stake in the company increased to 74% with an investment of US $ 1.09 million in Hyderabad-based Gland Farma by a company named Fosun in Shanghai.
In the last few years Chinese private sector companies have increased investment in various sectors like telecom, petrochemical, software and IT (IT) in India market.
Provision Of Temporary Ration Card In Pune
The Pune District Council (Pune Zilla Parishad) has decided to provide temporary ‘ration cards’ to more than 80,000 undocumented people in the district, so that they can get food grains under the Public Distribution System-PDS. Can do.
According to the Chief Executive Officer (CEO) of Pune District Council, there are more than 80000 people in the region who are not able to submit the required documents, besides some who have a ‘ration card’ from another state. .
The District Council has planned to use Aadhaar-based Authentication for such people to open an account with India Post Payments Bank.
According to the Pune District Council, the task of identifying the beneficiaries has been assigned to the police patil of each village, which keeps a record of the outsiders coming to the village.
This scheme of Pune District Council will only verify that the beneficiary is eligible for this scheme or not, if he is eligible then only he will be provided with a temporary ration card.
The district council is also planning to make home delivery of ration to prevent people from gathering at one place. According to estimates, about 120 tonnes of grain will be distributed under this scheme.
This scheme of Pune District Council will increase the scope and reach of Sharad Bhojan Yojana, under which cooked food is provided to people in Pune district at concessional rates.
NASA’s Commercial Crew Program
Recently NASA has announced that it will launch a flight of astronauts on May 27, 2020. According to NASA, Falcon-9 (Falcon 9) rocket will be used in this mission. Through this mission, astronauts will be sent to the International Space Station (ISS) to stay. The mission will be launched by Elon Musk’s space company SpaceX.
Astronauts Bob Bacon and Douglas Hurley will fly to the ISS from SpaceX’s Falcon-9 rocket (Falcon 9). Bob Bacon was chosen by NASA as Astronaut in the year 2000 and has so far gone on two space flights. In addition to this, Douglas Hurley was also selected as Astronaut in the year 2000 and he has also taken up space flights twice so far. NASA’s mission to send astronauts to the International Space Station (ISS) has been named the ‘Commercial Crew Program’. This mission is funded by the US government.