Federation of Karnataka Chambers of Commerce and Industry welcomes govt stimulus to boost demand

News Network
October 13, 2020

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Bengaluru, Oct 12: Expressing his happiness on the measures to stimulate consumer spending announced by Union Finance Minister Nirmala Sitharaman, Federation of Karnataka Chambers of Commerce and Industry (FKCCI) President Perikal M Sundar said that the move will enhance the purchasing power of the consumer and invigorate the retail sector economy.

In a statement, Sundar said that the one-time disbursement of Special Festival Advance Scheme will bring a surge in the government revenue through GST.

"The one-time disbursement of Special Festival Advance Scheme is expected to amount to Rs.4,000 crore. If given by all state governments, another Rs.8,000 crore is expected to be disbursed. Employees can spend this on any festival which will enhance the purchasing power of the consumer and invigorate the retail sector economy and thereby facilitate a surge in the government revenue through GST," he said.

The FKCCI President stated that the Special Festival Advance Scheme which was meant for non-gazetted government employees is being revived as a one-time measure, for gazetted employees too.

Talking about the LTC Cash Voucher Scheme, Sundar said that the government employees can opt to receive cash amounting to leave encashment plus three-time tickets fare to buy something of their choice.

"The government employees can opt to receive cash amounting to leave encashment plus three-time tickets fare to buy something of their choice under the LTC Cash Voucher Scheme. Only digital payment mode is accepted and employees should produce the GST invoice to get the benefit," he said.

Trying to give a boost to the plummeting economy, Finance Minister Nirmala Sitharaman on Monday announced two proposals -- Leave Travel Concession (LTC) Cash Voucher Scheme and Special Festival Advance Scheme -- to stimulate consumer demand.

Sitharaman said there are indications that savings of government and organised sector employees have increased, "We want to incentivise such people to boost demand for the benefit of the less fortunate. We are presenting two proposals -- the Leave Travel Concession (LTC) Cash Voucher Scheme and Special Festival Advance Scheme -- to stimulate consumer spending."

Finance Minister said under the LTC Cash Voucher Scheme, government employees can opt to receive cash amounting to leave encashment plus three times ticket fare, to buy items, which attract GST of 12 per cent or more. "Only digital transactions are allowed, GST invoice has to be produced," she said.

The Special Festival Advance Scheme for non-gazetted employees is being revived as a one-time measure, for gazetted employees too, Finance Minister said.

"All the central government employees can now get an interest-free advance of Rs 10,000, in the form of a prepaid RuPay Card, to be spent by March 31, 2021," she said.

The interest-free advance of Rs 10,000 under the Special Festival Advance Scheme to be paid back in 10 instalments.

"The one-time disbursement of Special Festival Advance Scheme is expected to amount to Rs 4,000 crore. If it is given by all state governments, another Rs 8,000 crore is expected to be disbursed Employees can spend this on any festival," she added.

Finance Minister Nirmala Sitharaman will chair 43rd Goods and Services Tax (GST) Council meeting through video conferenceing later in the day.

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News Network
May 12,2024

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In an intriguing turn of events, authorities have levied a fine against an actress for breaching traffic regulations depicted within a television serial.

In the 14th episode of the popular serial ‘Seetha Raama’ a Kannada language drama series airing on Zee Kannada, a scene featuring two individuals riding a scooter caught the attention of viewers. While the rider adhered to safety protocols by wearing a helmet, the actress on the pillion did not.

Jayaprakash Yekkur, a vigilant resident of Mangaluru, took swift notice of this discrepancy and promptly lodged a complaint with the Mangaluru City Police Commissioner. Yekkur underscored the concern that such portrayals of traffic violations by actors and actresses could potentially convey misleading messages to viewers, particularly those who are impressionable. He urged authorities to take decisive legal action against the actress, the serial’s director, and the broadcasting channel.

In response to Yekkur’s complaint, the Commissioner of Police forwarded the matter to the Mangaluru Traffic Police station. Subsequently, notices were issued to the owner of the two-wheeler featured in the scene and the serial’s director. Upon investigation, it was revealed that the scene had been filmed in Nandini Layout, Bengaluru, and was referred to the Rajajinagar police station for further scrutiny.

On May 10, after thorough inquiries, the Rajajinagar police station imposed a fine of Rs 500 on both the actress and the owner of the two-wheeler. Furthermore, the production manager of the serial committed to adhering strictly to traffic regulations in future episodes.

Expressing his contentment with the resolution, Jayaprakash Yekkur commented that the prompt response from the police, coupled with the imposition of a fine, serves as a valuable lesson and contributes significantly to enhancing public awareness.

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News Network
May 10,2024

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Madikeri: A 15-year-old was bludgeoned to death and the accused fled with her severed head at Mutlu village in Somwarpet of Kodagu district on Thursday late night, hours after her SSLC examination result was declared.  

The victim has been identified as US Meena, a 10th grade student of Surlabbi High School. She had passed the SSLC examination and her school attained 100% results. 

However, she was brutally murdered by accused Prakash (32), a resident of the village. The police have launched a search operation to find the suspect, said Kodagu SP K Ramarajan 

It is said that the minor girl's engagement with the suspect was thwarted by officials from Women and Child Development department on May 9, and later officials had even convinced her parents of not to marry the minor girl.

However, the suspect barged into her house in the night and allegedly kidnapped her. Later, he took her to an area near the periphery of the forest and murdered her after which he fled with her severed head.

Victim's mother too has suffered injuries and is admitted to a hospital for treatment. The reason for the murder will be known after the probing officials have inquired the victim's mother, said the SP. 

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News Network
May 14,2024

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Mangaluru, May 14: The Met department has sounded a yellow alert in 13 districts of Karnataka including the three coastal districts of Udupi, Dakshina Kannada and Uttara Kannada for next four days. 

The other districts are Belagavi, Dharwad, Haveri, Chikkamagalur, Chitradurga, Hassan, Kodagu, Mandya, Ramanagara, Shivamogga. These districts are expected to received 6-11 cm of rain, the department said.

On Monday Dakshina Kannada and Udupi experienced a monsoon-like atmosphere. Rain, accompanied by thunder and lightning, began in most parts on Sunday evening. In Udupi, rain showered in the early hours of Monday. While Kundapur and Udupi received moderate rains, Karkala experienced a heavy downpour.

The showers lowered the daytime temperature in both districts. Light rain fell in Mangaluru and its outskirts early Monday morning. Mangaluru city recorded a maximum temperature of 33.4°C and a minimum of 23.2°C on Monday. This is expected to decrease by two to four degrees in the next four days, according to the weather department. 

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