Indian Oil Corporation withdraws proposed Rs 22,000 crore rights issue
In July 2023, the board of directors of the IOC approved raising capital through the issuance of equity shares on a right basis.
The Tea Association of India (TAI) has expressed gratitude for the “Pradhan Mantri Cha Shramik Protsahan Yojana” (PMCSPY) scheme designed for the welfare of tea workers, particularly women and children in Assam and West Bengal.
Commenting on today’s Union Budget, the TAI secretary general, PK Bhattacharjee, said, “A budget of Rs 1,000 crore has been allocated for this scheme to improve education and healthcare services in tea gardens. This scheme will be implemented during the fiscal years 2024-25 and 2025-26.”
“The proposed “Productivity and Resilience Agriculture” initiative includes measures for climate resilience, release of new varieties, and digital infrastructure which will enhance the rural economy. The government has also emphasized on employment and skilling through various programmes like skilling loan with government-backed guarantee and educational loan to create a skilled workforce in the future. This will also benefit the tea industry,” Mr Bhattacharjee added.
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According to him, the long-standing demand of the tea industry for digital and banking facilities in tea-growing regions has been addressed by the announcement of “Bank Branches in the northeast”. The continuation of PMAY and PMGSY schemes will also have a positive impact on rural communities including those living in tea gardens.
“The Tea Association of India appreciates the proactive approach taken by the government towards improving economic policies by incentivising reforms to improve productivity and efficiency in all factors of production such as land, labour, capital, entrepreneurship, and technology. These reforms are aimed at bridging inequality while promoting total factor productivity,” Mr Bhattacharjee said.
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