UniFocus IAS ( UNIFOCUS UNIVERSAL )

Union Minister for MSME Shri Narayan Rane launched the revamped CGTMSE Scheme NFRA examines proposals on new standard for accounting of insurance contracts viz. Ind AS 117 MoHUA launches the ‘City Beauty Competition’ Cabinet approves the Policy for the Medical Devices Sector Centre asks States to scrap taxes on power generation units FAO and the United Kingdom launch 5-year AIM4Forests programme National Panchayati Raj Day 28 States / UTs adopt the National Generic Document Registration System for Land Records First Ever Census on Water Bodies in India Indian Economic Service/Indian Statistical Service Examination, 2023

  Union Minister for MSME Shri Narayan Rane launched the revamped CGTMSE Scheme in Mumbai today. CGTMSE has been provided with an additional corpus support of ₹9,000 crore in the Union Budget for FY 2023-24 to revamp its Scheme to provide guarantee for additional ₹2 lakh crore to Micro & Small Enterprises. Accordingly, the major revamp measures were launched and disseminated to the lending institutions. The modifications included reduction in guarantee fees for loans upto ₹1 crore by 50% bringing the minimum guarantee fee to the level of 0.37% pa only. Another major change announced was raising of ceiling for guarantee from ₹2 crore to ₹ 5 crore and enhancing the threshold limit for claim settlement without initiation of legal action to ₹10 lakh. About CGTMSE: Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) is jointly set up by Ministry of Micro, Small & Medium Enterprises (MSME), Government of India and Small Industries Development Bank of India (...

The National Financial Reporting Authority (NFRA) held a meeting to examine the proposals received from the Institute of Chartered Accountants of India (ICAI), as required u/s 133 of the Companies Act, 2013), regarding a new Standard (Ind AS) for accounting of insurance contracts viz. Ind AS 117, here yesterday. The meeting was attended by the Executive Body of NFRA and Part time-members of the Authority from MCA, CAG, ICAI and the accountancy profession. NFRA will share its recommendations to Ministry of Corporate Affairs, after which Ind AS 117 has to be considered and notified by the Central Government under Companies (Indian Accounting Standards) Rules 2015. When notified, it will replace currently notified Ind AS 104,  Insurance Contracts . IFRS 17 ( IFRS stands for  International Financial Reporting Standard  ) , originally issued by the International Accounting Standards Board (IASB), in May 2017, is a complete overhaul of the accounting for the Insurance Industry....

The ‘City Beauty Competition’ portal   https://citybeautycompetition.in   has been made live by the Ministry on April 26, 2023. Urban Local Bodies (ULBs) across the country can participate in this competition through an online process. The objective of the competition is to encourage and recognize the transformational efforts made by cities and wards across the country to create beautiful, innovative and inclusive public spaces. Under this competition, wards and public spaces in cities would be judged against five broad pillars viz., (i) accessibility (ii) amenities (iii) activities (iv) aesthetics and (v) ecology. The competition would felicitate the most beautiful wards and public spaces in the cities. While selected wards would be felicitated at the city and State levels, the top most beautiful public spaces in the cities under four categories viz. Waterfronts, Green spaces, tourist/ heritage spaces and market/commercial places would first be felicitated at the State level...

The Union Cabinet approved the National Medical Devices Policy, 2023. The medical devices sector in India is an essential and integral constituent of the Indian healthcare sector. The Indian medical devices sector’s contribution has become even more prominent as India supported the domestic and global battle against COVID-19 pandemic through the large scale production of medical devices & diagnostic kits, such as Ventilators, Rapid Antigen Test kits, Real-Rime Reverse Transcription Polymerase Chain Reaction (RT-PCR) kits, Infrared (IR) Thermometers, Personal Protective Equipment(PPE) Kits & N-95 masks. The medical devices sector in India is a sunrise sector which is growing at a fast pace. The Government of India has already initiated implementation of PLI Scheme for medical devices and support for setting up of 4 Medical devices Parks in the States of Himachal Pradesh, Madhya Pradesh, Tamil Nadu and Uttar Pradesh. Under the PLI scheme for Medical Devices, approved ( 26 ) and c...