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India Needs 1.3 to 1.5 Billion Tonnes of Coal by 2030

  Due consultations were held for finalizing India's approach for negotiations at COP 21 and prior to signing the Paris Agreement.   As per Economic Survey, the demand for coal is expected to remain in the range of 1.3-1.5 billion tonnes by 2030. Coal is the most important and abundant fossil fuel in India and accounts for 55% of the country's energy need. Commercial primary energy consumption in India has grown by about 700% in the last four decades. The current per capita commercial primary energy consumption in India is about 350 kgoe/year. Coal is not only the primary source of energy in the country but is also used as an intermediary by many industries such as steel, sponge iron, cement, paper, brick-kilns etc. Similarly, with increase in growth of industries using coal, their demand for coal has also been increasing; hence, there has been an overall increase in the demand of coal over the years. Being an affordable source of energy with substantial reserve, coal is going

FINANCIAL ASSISTANCE TO MSMEs DURING COVID

 The  Government of India has launched Self Reliant India (SRI) Fund, a fund of funds which aims to extend growth funding to MSMEs.   

The highlights of SRI Fund are as under:-  

  • To provide funding support to Daughter Funds for onward provision as growth capital through equity, quasi-equity and debt (as permitted under relevant SEBI guidelines).
  • To support faster growth of MSMEs and thereby ignite the economy and create employment opportunities.
  • To support MSMEs to graduate beyond the MSME bracket and become National/International Champions.
  • To support MSMEs which help making India self-reliant by producing relevant technologies, goods and services.
  • Daughter Funds which are interested in investing in MSMEs shall be empanelled.
  • 20% of the funds invested in MSMEs shall be provided by SRI Fund.
  • MSMEs as per the definition given in the MSMED Act shall be eligible provided, after assessment, they are found viable, have a positive growth trajectory, and have a defined business plan for growth. Previous 3 years CAGR will be considered.
  • Non Profit institutions, NBFCs, financial inclusion sector, micro credit sector and other financial intermediaries shall not be eligible for consideration.

Assuming an average investment of Rs. 10.00 Crore per MSMEs, approximately 5000 MSME are likely to be benefited.   

The financial support under this scheme intends to increase the financial capacity of viable MSMEs for growth to expand their business and become National/International Champions.   

The scheme is being implemented by a special purpose vehicle named “NSIC Venture Capital Fund Limited”. As informed by NSIC Venture Capital Fund Limited, a Commitment of Rs.1,080 crore has been approved so far.   

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