Kautilya

Govt to Come Out with Incentive Schemes for Semiconductor and Display Fabs in 6 Months

The Ministry of Electronics and IT (Meity) is going to come out with incentive schemes for setting up display and semiconductor fabrication units in the country in the next six months. According to Ministry of Electronics and Information Technology (Meity) secretary Ajay Prakash Sawhney, the government is already doing the preparatory work and talking to the industry about the support required to set up the fabs. Separate expression of interests (EoIs) has been floated for display and semiconductor fabs and companies, both global and local, are showing keen interest to set up units in India.

RBI to Transfer Surplus of INR 99,122 Crore to Centre

The Reserve Bank of India (RBI) has approved the transfer of a surplus of Rs 99,122 cr to the Centre for the accounting period of nine months ended 31 March 2021 (July 2020-March 2021). This decision was taken under the Chairmanship of Governor Shaktikanta Das, at the 589th meeting of the Central Board of Directors of RBI on 21 May 2021.

India may impose Anti-Dumping Duty on Phthalic Anhydride Imports from China, Others

India may impose anti-dumping duty on Phthalic Anhydride imported from China, Indonesia, South Korea and Thailand, based on an application filed by IG Petrochemicals Limited, SI Group India Private Limited and Thirumalai Chemicals. The Directorate General of Trade Remedies under the commerce and industry ministry, has recommended duty between $40.08- 140.17 per MT on the imports of the chemical intermediate used in the plastic industry.

EPFO Adds 11.22 Lakh Net Subscribers in the Month of March, 2021

The provisional payroll data of EPFO has been published on 20th May, 2021 highlights that EPFO has added around 11.22 lakh net subscribers in the month of March, 2021. Despite Covid-19 pandemic, cumulative net payroll addition for FY 2021 is almost at par with last year, with 77.08 lakh net additions to subscribers base.

Company Gets Approval for India’s First Self-Use Test Kit for Covid-19

The Pune-based company’s CoviSelf test can be used by symptomatic individuals and immediate contacts. It costs Rs 250 per kit and gives results in 15 minutes. “Users of this test will not need sample collection by a healthcare professional. This will ease pressure on already overburdened testing labs and reduce delays in testing, which is more than 72 hours in some parts of the country,” Mylab said.