Punjab will get due share in Central Schemes: Ravneet Bittu thanks FM for incentives to Agri & MSME sector

New Delhi/ Chandigarh, July 23 2024 (Yes Punjab News)

Union Minister of state for Railways and Food processing today hailed the Union budget presented by Finance minister Nirmala Sitharaman and said that budget would prove boon for agriculture and small and medium Industry in India.

In a statement Ravneet Bittu said that the FM had announced many schemes to support MSME sector which included to set up 24 MSME clusters in the country. He added that this issue was raised by him with the FM during pre-budget meeting.

He said that facility of term loan for MSMEs has been introduced by the FM for purchase of new machinery and equipment without collateral or third-party guarantee. Likewise limit of Mudra loan has been increased from 10 lakh to 20 lakh.

He said that Punjab would get its due share in all the central schemes announced in the budget. He said that both industrial and agriculture sector in Punjab would get big push.

Ravneet Bittu said that it was vision of the Prime Minister Narender Modi to focus the thrust of budget on education, skill enhancement and job creation.

He said that model skill loan scheme would be revised to facilitate loans up to 7.5 lakhs with a guarantee from the central government. He said that 25000 youth would be benefitted every year.

He lauded the budget provisions for agriculture sector and said that 1.52 lakh crore has been earmarked for agriculture and allied sectors.

He said that large scale clusters of vegetable production is one of the core area. He said that center had recently announced higher MSP for major crops, and he hoped new schemes in budget would benefit farmers in a big way.

Thanking the Prime Minister for giving path breaking initiatives in the Ministry of food processing Industries, Ravneet Bittu said that setting up of 50 Multi product food irradiation units in MSME, setting of 100 food quality and safety testing labs with NABL, 100 street food hubs in five cities, reduction in customs duty on marine products, internship to 1 Crore youth in 500 top companies, 40 lac youth to be skilled, 12 plug and play industrial parks, E commerce export hubs would be revolutionary steps.

Ravneet also thanked the Prime Minister for making the railways world class by enhancing the gross Budgetary support to Rs 2,40,200 Cr in 2023-24 which was earlier Rs 28,174 cr in 2013-14.

Three economic railway corridors energy, mineral and cement corridors (192 projects), Port connectivity corridors (42 projects) and high traffic density corridors (200 projects) have been identified under the PM Gati Shakti Mission for enabling multi- modal connectivity.

Celine Dion to return to stage with Paris Olympics opening ceremony

Los Angeles, July 24 2024-

Legendary singer-songwriter Celine Dion, who has been battling a rare neurological condition called stiff-person syndrome, is expected to make her return to the stage at the Olympic Games.

The singer is rumoured to be taking to the Paris Olympics stage during the opening ceremony on Friday, reports Variety.

It will mark the pop legend’s first performance since halting her touring schedule and stepping away from the spotlight after being diagnosed with Stiff Person Syndrome in December 2022.

As per Variety, the singer arrived in Paris at the Royal Monceau Hotel near the Champs-Elysees, where Lady Gaga, another potential opening ceremony headliner, is also staying. Specific details about Dion’s performance are being kept under wraps.

The Canadian singer teased that a comeback may be imminent in an April interview with Vogue France, in which she said: “I’ve chosen to work with all my body and soul, from head to toe, with a medical team. I want to be the best I can be. My goal is to see the Eiffel Tower again.”

She also said that she was working every day to get stronger. She told Vogue France: “For four years I’ve been saying to myself that I’m not going back, that I’m ready, that I’m not ready… As things stand, I can’t stand here and say to you: ‘Yes, in four months’,” she said. “I don’t know… My body will tell me.”

It turns out that she may indeed be performing in front of the famous Parisian landmark, as the opening ceremony will take place in the shape of a nautical parade along the Seine, culminating near the Trocadero, facing the Eiffel Tower.

The ceremony, which will take place outside of a stadium for the first time in history, will showcase Paris’ iconic locations and bring together 3,500 actors, dancers and musical performers. (Agency)

Realme unveils new quality improvement strategy for a premium smartphone experience across the product portfolio

New Delhi, July 24 2024-

From blurry photos and sluggish performance to fragile screens and short battery life, early smartphones were a far cry from the technological marvels we enjoy today.

Over the years, we’ve witnessed a remarkable evolution in smartphone quality, with each generation pushing the boundaries of innovation and user experience. Today’s smartphones are more powerful, versatile, and durable than ever before.

Yet, as with any rapidly evolving technology, there’s always room for improvement. The quest for the perfect smartphone, one that seamlessly blends cutting-edge features with unwavering reliability, continues to drive the industry forward.

With the upcoming launch of their 13 Pro Series 5G, realme is making a bold statement about their commitment to this pursuit of excellence. The brand’s primary focus is to improve the quality of its products across all segments.

This emphasis on quality is integral to realme’s overall portfolio of smartphones. With the 13 Pro Series 5G, realme aims to deliver not just impressive specs, but a truly premium smartphone experience built on a foundation of exceptional quality, specifically catering to the needs and preferences of customers in the mid-high segment.

By offering superior quality smartphones and an enhanced user experience, realme aims to strengthen its position in the mid-high smartphone market.

This means tackling the pain points users face head-on, starting with the battery. realme envisions a future where battery anxiety is a distant memory, a future powered by larger capacities, smarter power management, and technology that simply keeps up with your life.

But it’s not just about performance; it’s about resilience. realme is dedicated to crafting devices that are as durable as they are powerful, ready to withstand the rigours of daily life. Imagine yourself caught in a sudden downpour — your future realme smartphone, with its IP65+ rating, will shrug off the rain like it’s nothing. Or picture this: you’re washing dishes, and your phone takes an unexpected dip in the sink.

No problem! These devices are engineered to keep functioning flawlessly, even after an unexpected dunk in water.

Future realme smartphones will repel dust effortlessly and remain fully functional even after accidental drops in water. The 13 Pro Series 5G embodies this commitment, proudly boasting the prestigious SGS five-star fall certification, assuring users of exceptional drop and scratch resistance. And because a premium product deserves a premium ownership experience, realme is taking its after-sales service to the next level.

With the 13 Pro Series 5G, realme introduces an unprecedented 30-day replacement guarantee, a testament to their confidence in the quality of their products and their dedication to unwavering customer support. This is realme’s quality revolution: a commitment to excellence that goes beyond the spec sheet, a promise of a smartphone experience that is as reliable as it is innovative.

The realme 13 Pro Series 5G arrives on July 30, marking a new chapter in the brand’s journey and setting a new standard for quality in the mid-high smartphone market. (Agency)

Floods paralyse Philippine capital, many provinces

Manila, July 24 2024-

Continuous rains triggered by Typhoon Gaemi and the southwest monsoon caused flooding that paralysed the Philippine capital Manila and many parts of the main Luzon Island on Wednesday.

The widespread flooding, knee-deep in some areas, forced the government to evacuate people near Manila Bay and rivers to safety, and close schools and offices. Local authorities also evacuated residents of coastal areas in the central and southern Philippine regions, Xinhua news agency reported.

Airport authorities said at least 16 flights were cancelled at the Ninoy Aquino International Airport on Wednesday morning.

Government offices and classes at all levels in the national capital region were suspended on Wednesday. The Philippine Senate and the House of Representatives also suspended their sessions.

The typhoon destroyed a colony of shanties near Manila Bay. Floods made many roads in the capital region impassable, stranding people who left their homes early to go to work. Radio reported that some cars stalled when trying to cross the flooded thoroughfare.

The government has yet to report deaths related to the flooding.

A radio reported that a 14-year-old boy had been missing after wading through a flood in Rizal province, east of Manila.

The Philippines’ state weather bureau PAGASA (Philippine Atmospheric, Geophysical and Astronomical Services Administration) said Gaemi intensified while moving northwestward over the Philippine Sea at 25 kilometres per hour, packing 155 km per hour winds and gusts up to 190 km per hour.

The bureau said Gaemi will continue to dump rain on Wednesday and “flooding and rain-induced landslides are possible.”

It added that the southwest monsoon enhanced by Gaemi will bring moderate to intense rainfall in many areas in Luzon until Friday, as well as areas in the Visayas region in the central Philippines and northern Mindanao in the southern Philippines.

Gaemi, the third typhoon to batter the Philippines this year, is expected to leave the Philippines by Wednesday night or early Thursday.

An average of 20 typhoons lashed the Philippines yearly.

The archipelago is prone to tropical cyclones which trigger heavy rains, flooding and strong winds, resulting in casualties and destruction of crops and properties. (Agency)

Paris Olympics: Top British Olympian Dujardin withdraws over ‘error of judgement’

Paris, July 24 2024-

One of Team GB’s biggest Olympic stars and a clear medal hope, equestrian Charlotte Dujardin has withdrawn from the Paris Olympic Games at the last moment after what she has described as “an error of judgement.”

The 39-year-old, who has three gold medals and six in total in equestrian events, withdrew after the release of a four-year-old video of her in a training session, reports Xinhua.

“A video has emerged from four years ago which shows me making an error of judgement during a coaching session. Understandably, the International Federation for Equestrian Sports (FEI) is investigating, and I have made the decision to withdraw from all competition – including the Paris Olympics – while this process takes place.”

“What happened was completely out of character and does not reflect how I train my horses or coach my pupils, however there is no excuse. I am deeply ashamed and should have set a better example in that moment,” explained the rider in a statement.

It was not immediately clear what the video showed.

Dujardin won individual and team gold medals at the 2012 London Olympics an individual gold and a silver in Rio and two bronze medals in Tokyo.

She said she was “sincerely sorry for her actions and devastated to have let everyone down.” (Agency)

IOC confirms 2025 debut for Olympic Esports Games in Saudi Arabia

Paris, July 24 2024-

The creation of the Olympic Esports Games has been confirmed during the ongoing 142nd Session of the International Olympic Committee (IOC), scheduled for 2025 in Saudi Arabia.

“This is truly a new era for the IOC,” said IOC president Thomas Bach. “With the confirmation by the IOC Session of the creation of the Olympic Esports Games, we are keeping up with the pace of the digital revolution.”

The IOC announced on July 12 that it has partnered with the National Olympic Committee (NOC) of Saudi Arabia to host the inaugural Olympic Esports Games in the country in 2025, which has been endorsed by the IOC executive board unanimously, reports Xinhua.

“The esports community, represented in our Esports Commission, has enthusiastically engaged with this initiative. This is further proof of the attractivity of the Olympic brand and the values it stands for among young people,” said Bach.

“The NOC of Saudi Arabia will bring great – if not unique – experience in the field of esports to this project. This partnership is based on the Olympic Charter and the Olympic values,” he added.

HRH Prince Abdulaziz bin Turki Al Faisal, Minister of Sport and President of the Saudi Arabian Olympic and Paralympic Committee, emphasized the significance of the initiative.

“Our commitment to esports is simply a reflection of the world our young people live in. We now all have the chance to write new Olympic history together,” he said.

“The story of sport in Saudi Arabia is a story of transformation,” added IOC member HRH Princess Reema Bandar Al-Saud, who is also a board member of the Saudi Arabian Olympic and Paralympic Committee.

“With over 23.5 million gamers, many of whom are women, hosting the Olympic Esports Games in 2025 is a natural progression in our journey to open up Saudi Arabia to the world and the world to Saudi Arabia,” she said.

Saudi Arabia has quickly become a hub for esports, hosting numerous international tournaments with significant participation and global viewership in the last two years.

According to the IOC, the planning for the Olympic Esports Games will commence immediately, focusing on the selection of a city and venue, game titles, and the qualification process for participants.

Additionally, the IOC will establish a dedicated structure for the Games, distinct from the traditional Olympic model, to better address the unique nature of esports.

Bach again addressed the Olympic Esports Games at a press conference later on Tuesday, saying that “It is clearly a milestone because we are entering a new ground, but we are entering this new ground on a very firm base.”

The IOC held the Esports Forum in July 2018 following the sixth Olympic Summit in Lausanne the previous year, during which the development of Esports was brought up as a main topic.

In 2023, the Olympic Esports Week was held in Singapore, after which Bach asked the IOC Esports Commission at the 141st IOC Session in Mumbai, India to study the creation of the Olympic Esports Games. (Agency)

UK Foreign Secretary David Lammy arrives in New Delhi; to call on PM Modi, other dignitaries

New Delhi, July 24 2024-

UK Foreign Secretary David Lammy landed in New Delhi on Wednesday for his first official visit since he assumed office.

The dignitary’s visit is believed to be a significant event in light of impending discussions pertaining to the strategic partnership between India and the UK.

Randhir Jaiswal, the official spokesperson of Ministry of External Affairs, took to X and announced: “The visit will strengthen the comprehensive strategic partnership between the two countries and will make the ‘living bridge’ between (India) & (UK).”

Talks on strengthening the comprehensive strategic partnership and an early conclusion of a mutually beneficial India-UK Free Trade Agreement (FTA) will be the highlight of Lammy’s flying visit to New Delhi.

Lammy will meet External Affairs Minister S. Jaishankar on Wednesday evening. He is also expected to hold discussions with Commerce Minister Piyush Goyal, and NSA Ajit Doval besides calling on Prime Minister Narendra Modi.

This will be the first high-profile visit from London after the formation of the Labour Party government under the leadership of British PM Keir Starmer.

The 51-year-old Labour Party politician had spoken to EAM Jaishankar after assuming office earlier this month, hailing deep connections and “unique friendship” between people, business, and culture of India and the UK.

Lammy is scheduled to depart on Thursday morning as the key ASEAN Foreign Ministers’ meeting kicks off in Laos, which will also be attended by Jaishankar.

David Lammy had previously visited India this February as Shadow Foreign Secretary. (Agency)

Tesla’s profit tanks 45 pc in Q2, Musk plans to reveal robotaxi in October

San Francisco, July 24 2024-

Elon Musk-run Tesla has reported $1.5 billion in profit for the April-June period (Q2) this year, down 45 per cent from the same period in 2023.

Total revenue was up 2 per cent (year-on-year) at $25.5 billion, but automotive revenues was down 7 per cent to $19.9 billion, according to the electric car-maker.

“In Q2, we achieved record quarterly revenues despite a difficult operating environment. The Energy Storage business continues to grow rapidly, setting a record in Q2 with 9.4 GWh of deployments, resulting in record revenues and gross profits for the overall segment,” Tesla said in a statement.

The company is looking at a possibility of selling fewer EVs in 2024 than 2023.

It said that global EV penetration returned to growth in Q2 and is taking share from ICE vehicles.

“We believe that a pure EV is the optimal vehicle design and will ultimately win over consumers as the myths on range, charging and service are debunked,” said Tesla.

According to its CEO Musk, he will showcase Tesla’s “robotaxi” prototype during an event on October 10, after scrapping a previous plan to reveal it on August 8.

“Though timing of Robotaxi deployment depends on technological advancement and regulatory approval, we are working vigorously on this opportunity given the outsized potential value,” said Tesla. (Agency)

Time to invest in stocks which can deliver superior returns: Experts on LTCG tax

New Delhi, July 24 2024-

Stock market experts on Wednesday said that investors should focus on buying stocks which can deliver superior returns after a marginal increase in long-term capital gains tax (LTCG) on equity becomes a reality.

According to experts, the taxation of capital gains has undergone significant streamlining in the Union Budget 2024 with respect to holding period and tax rates.

There will only be two holding periods — 12 months (for listed securities) and 24 months (for all other securities) to determine short-term and long-term capital gains.

Thus, the holding period for bonds and debt mutual funds for being classified as long-term has been reduced from 36 months to 24 months.

According to market watchers, in the present context, FMCG stocks look attractive from the valuation perspective.

“It is important to understand that the Budget strengthens the India growth story with a focus on growth with financial stability,” according to experts.

The fiscal consolidation being attempted through the Budget is a big positive that should not be missed amid the concerns about an increase in capital gains tax.

Another important factor is that the removal of indexation benefits on gold and real estate will make equity a superior asset class, relatively.

The concept of indexation has also gone away from mutual funds (MFs).

The higher tax on F&O trading is intended to discourage the excessive speculation in this segment and, therefore, is a welcome move, said experts.

Indexation adjusts the purchase price of an asset for inflation, reducing taxable profits and tax liabilities.

According to experts, the whole idea is to simplify the capital gains tax regime. (Agency)

Tremors shake Sangli residents in Maha, no casualties

Sangli (Maharashtra), July 24 2024-

Thousands of villagers in Warnali and surroundings in Maharashtra’s Sangli district were shaken in their sleep when mild tremors, measuring 3.0 on the Richter scale, jolted them awake early on Wednesday, officials said here.

The officials said that the tremors were experienced at around 4.47 a.m. for several seconds in Warnali in the Miraj taluka.

The tremors were also felt in Warnali’s vicinity of more than 8 km, including the Chandoli Dam, which is overflowing with water being discharged.

There are no reports of any casualties or damage due to the pre-dawn mild earthquake in the rain-battered region of western Maharashtra.

More details are awaited, said an official of the district disaster management authority.

On July 10, Hingoli and parts of the Marathwada-Vidarbha region were rocked by tremors measuring 4.5 on the Richter Scale, and panicked people had run out of their homes, but there was no damage or casualties. (Agency)