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GOVERNMENT POLICIES AND SCHEMES - January 2022

Jan 2022

Mar 19, 2022

Credit Guarantee Scheme for Subordinate Debt (CGSSD) Extended up to 31.03.2023

Credit Guarantee Scheme for Subordinate Debt (CGSSD) was extended up to 31.03.2023. Government announced creation of 'Distressed Assets Fund- - Subordinate Debt for Stressed MSMEs' on 13th May, 2020, under the Aatma Nirbhar Bharat Package.Accordingly, a scheme viz. 'Credit Guarantee Scheme for Subordinate Debt' was approved by the Government on 1st June, 2020 and the scheme was launched on 24th June, 2020 to provide credit facility through lending institutions to the promoters of stressed MSMEs viz. SMA-2 and NPA accounts who are eligible for restructuring as per RBI guidelines on the books of the Lending institutions.
Initially the scheme was upto 31.03.2021.In order to keep the avenues of assistance to stressed MSME Units open, the Government had earlier extended this scheme upto 31.03.2022.Now, on the basis of the requests received from the stakeholders of the scheme, the Government has decided to further extend this scheme till 31.03.2023.

Mar 18, 2022

Government Clears Bill Allowing Use of Tech to Keep Criminals' Info

The government cleared a Bill to provide legislative backing for the use of latest technology in maintaining records of convicts and of those who are arrested for different types of crimes.
As per reports, a decision to this effect was taken at a meeting of the Union Cabinet, which was chaired by Prime Minister Narendra Modi. The draft law "Identification of Prisoners Bill" seeks to replace the Identification of Prisoners Act, 1920, which would be repealed.

Mar 17, 2022

Rajya Sabha Passes Bill to Allow Abortion up to 24 Weeks

The Health Minister moved The Medical Termination of Pregnancy (Amendment) Bill 2020 in the upper house which was passed by voice vote. The bill also ensures that women get access to safe and legal abortion services on therapeutic, eugenic, humanitarian grounds.
This bill allows abortion up to 24 weeks "for special categories of women", from the existing 20 weeks gestation period.
The bill seeks to amend the Medical Termination of Pregnancy Act, 1971.The bill was drafted after extensive expert consultation involving all stakeholders such as gynaecologist association, related NGOs, Indian Medical Association etc.

Mar 15, 2022

Narayan Rane Launches MSME Innovative Scheme and Idea Hackathon 2022

Union Minister for Micro, Small and Medium Enterprises (MSME), Narayan Rane launched the MSME Innovative Scheme (Incubation, Design and IPR) along with the MSME Idea Hackathon 2022.
MSMEs have an important role to play in Atmanirbhar Bharat and these schemes will help entrepreneurs in developing new ventures.
B.B. Swain, Secretary MSME gave the keynote address during the launch of the MSME Innovation Scheme and said that it will act as a hub for innovation activities facilitating and guiding the development of ideas into viable business propositions which benefit society directly.
According to the ministry, the primary objectives of the incubation scheme are to promote and support untapped creativity and to promote the adoption of the latest technologies in MSMEs that seek the validation of their ideas at the proof-of-concept level.

Mar 14, 2022

Haryana Govt. Announces Matrushakti Udaymita Scheme

Haryana government announced Matrushakti Udaymita Scheme to provide support to women entrepreneurs, on International Women's Day. Under the scheme, the women whose family annual income is less than 5 lakh rupees based on Parivar Pehchan Patra (PPP) verified data, will be provided access to soft loans by financial institutions to the extent of 3 lakh rupees. Subsequently, the interest subvention of 7% will also be provided for three years through the Haryana Women Development Corporation.

Government Launches Initiative to Push Start-ups in Water Sector

Union Minister Hardeep Singh Puri launched the 'India WaterPitch-Pilot-Scale Start-up Challenge', under which the government will select 100 start-ups and they will be provided with Rs. 20 lakh each as funding support as well as mentorship.
According to the Ministry of Housing and Urban Affairs, the new initiative aims at empowering start-ups in the water sector to grow through innovation and design that will drive sustainable economic growth and generate employment opportunities.
The initiative was launched at an event by Union Housing and Urban Affairs Minister Hardeep Singh Puri under the ministry's Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0.
AMRUT 2.0 is a transformative and unique scheme, with a huge outlay of over Rs. 2.77 lakh crore. He said that the scheme will ensure water security in the country, reduce its transportation costs, reduce groundwater contamination, and increase water utilisation capacity.

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