Page 13 - Banking Finance March 2021

ROUNDUP

had grown 0.14% year on year in to operationalise 100 unserved and has decided to incentivise
December. underserved airports and start at least incorporation of One Person
"January exports signal that our 1,000 air routes under the UDAN Companies (OPCs) and has amended
traditional and labour-intensive sectors scheme," he said. the rules in this regard. It is also likely
to help in bringing more
of exports except apparels and leather
have already passed the most India's top 100 richest unincorporated businesses into the
organised corporate sector.
challenging and testing times," said wealth grow
Sharad Kumar Saraf, president,
Federation of Indian Export India's 100 top billionaires have seen Upskilling can boost global
Organisations, adding that the trend their fortunes increase by Rs.
12,97,822 crore since Marchlast year GDP by $6.5 trillion: WEF
shows an improvement in the order
booking position. when the COVID-19 pandemic hit the report
country and this amount is enough to
Of the 30 major export sectors, growth give 13.8 crore poorest Indians a Investment in upskilling has potential
was seen in 22. Non-oil, non-gold, silver cheque for Rs. 94,045 each. The latest to boost the global GDP by $6.5 trillion
and precious metals imports - an India supplement of the Oxfam report by 2030, including by $570 billion (over
indicator of the strength of domestic 'The Inequality Virus' said it would take Rs. 40 trillion) in India alone-the third
demand - were $26.35 billion in an unskilled worker 10,000 years to highest after China and the US, a WEF
January, recording a growth of 7.5%. make what businessman Mukesh report showed.
"A notable trend in the month of Ambani made in an hour during the The study released during the ongoing
January was the modest 7.5% growth pandemic and three years to make online Davos Agenda Summit, to be
in Non-oil, Non-gold imports supporting what he made in a second. addressed by Prime Minister Narendra
Modi and a host of other global leaders,
the revival of manufacturing activity in
the country," said Prahalathan Iyer, Govt eases rules for one also said that accelerated investment
Chief General Manager, Research & in upskilling and reskilling of workers
Analysis, India Exim Bank. Person Company could create 5.3 million (net) new jobs
In order to push efforts to improve the by 2030, and help develop more
Centre is targeting 1,000 ease of doing business and boost the inclusive and sustainable economies
startup ecosystem, the corporate worldwide.
routes under Udan scheme:
affairs ministry has relaxed the The report, Upskilling for Shared
Puri restrictions on One Person Companies, Prosperity, authored in collaboration
Union Civil Aviation Minister Hardeep including allowing NRIs to set up such with PwC, found that accelerated skills
Singh Puri said his ministry has set a entities, as well as reduced the paid- enhancement would ensure that
target of operationalising 100 up capital and turnover thresholds for people have the experience and skills
unserved and underserved airports and small companies. needed for the jobs created by the
starting at least 1,000 air routes under Besides, the fast track process for Fourth Industrial Revolution-boosting
the UDAN scheme. He also said that mergers under the companies law has global productivity by 3%, on average,
privatisation is required in the field of been extended to mergers of startups by 2030.
aviation as it is not the government's with other startups and with small
specialisation to run airports. companies. "The measures will help in 1 Padma Bhushan, 4
Addressing a press conference at the further promoting the ease of doing Padma Shri awards go to
BJP's state office Kushabhau Thakre business and reducing the compliance
Parisar here over the Union Budget burden on companies," Corporate trade & industry
2021-22, Puri also said that domestic Affairs Secretary Rajesh Verma told PTI. Five persons from trade and industry
flight services from Bilaspur town in In a move that will benefit startups have been selected to receive the
Chhattisgarh will begin from March 1 and innovators, especially those who prestigious Padma awards this year.
under the regional connectivity are supplying products and services on Rajnikant Devidas Shroff, CMD of UPL,
scheme. "My ministry has set a target e-commerce platforms, the ministry will receive the Padma Bhushan. Rajni

BANKING FINANCE | MARCH | 2021 | 13