tuesDAY World Bank clears $500 mn to support MSMEs in India june, 2021 The multilateral development bank said it will support Indian government’s efforts to revitalise the Covid-hit MSME sector 08 epaper.morningstandard.in Providing working capital for small biz facebook.com/TheMorningStandard twitter.com/TheMornStandard E X O D U S c ont i nu e s Tmc Turncoats go ‘missing’ Five more former TMC leaders have snapped contact with BJP in Bengal Page 8 A CAPITAL VIEW OF NEWS l New Delhi l J8.00 l PAGES 12 The $500-million Raising and Accelerating Micro, Small and Medium Enterprise Performance (RAMP) will provide better access to finance and working capital for MSMEs by strengthening the receivable financing markets. It will also scale up online dispute resolution mechanisms to address the problem of delayed payments, the World Bank said 18.5 yrs Centre blinks, ‘arbitrary & irrational’ vax policy nixed is the maturity of the World Bank loan with a 5.5-yr grace period Differential pricing for states chucked; govt to procure for 18+ too; new policy from June 21 Hold Class 12 practicals in online mode, says CBSE MA N ISH A N A N D @ New Delhi E x p r e ss N e ws Se r v i c e @ New Delhi Making a sharp course correction after widespread criticism, Prime Minister Narendra Modi on Monday announced that the Centre will take full responsibility for free vaccinations across all age groups. Private hospitals, however, can continue procuring 25% of the manufactured vaccines and levy a maximum of `150 extra as service charge for administering the jab. The rollout of the policy rollback will begin on June 21. Modi also announced the extension of the PM Garib Kalyan Ann Yojna scheme till Deepavali, November 4, for 80 crore of the population to avail free foodgrains. In his address to the nation, Modi sought to put the earlier policy in place since May 1 in context, saying the decision to ask states to procure doses for the 18+ was taken in line with their demand that they be given greater flexibility . “From June 21, Monday, the Centre will provide vaccines for all citizens above the age of 18 years free of cost. The Centre will procure 75% of the vaccines manufactured and give them free to the states. No state in the country will have to bear any cost.” Modi added that the Centre and the states will work out the modalities of the rollout in the next two weeks. He also entrusted the states with the task of ensuring that private hospitals charge only `150 as service charge for vaccinations. The reverting to the pre-May 1 vaccination procurement policy came in the backdrop of a Ballpark fiscal cost of free vaccines Estimated total 94 cr number of adults Total number of doses required @ 188 cr two doses/person Doses administered as on 23.3 cr 6 June Total additional 164.7 cr doses required Cost of additonal doses at average `24,705 cr `150/dose 75% cost to be borne by the `18,528.75 cr Centre Total additional cost for the Centre A18,529 crore Note: We have assumed `150 per dose as Centre’s cost. This is excluding the logistics cost the Centre could incur number of chief ministers appealing the Centre to take full responsibility for the procurement besides the Supreme Court taking a hard look at the the policy formulation. Modi sought to project that the Centre is in full control of the situation to deal with the ongoing pandemic. Exuding confidence that India will be able to scale up vaccinations, Modi stated that seven vaccine candidates are at the trial stage, including three in advanced stages, while work is in progress for a nasal vaccine. He informed that trials of two vaccines are on at a fast pace for children amid the scientific community expressing concerns about them being vulnerable in the next wave of the pandemic. SC’s sharp posers & observations Why don’t you procure vaccines also for the states? Dual pricing and procurement policy prima facie discriminatory Why can’t Centre pay from `35,000 crore budgetary allocation for procurement for the 18+? Universal vaccination, including for all 18+, is Centre’ primary responsibility Submit files on how the policy was conceived, including file notings PM blames it on states, Opposition faults govt E x p r e ss N e ws Se r v i c e @ New Delhi Prime Minister Narendra Modi on Monday sought to point fingers at states that suggested decentralisation of the rollout, to deflect blame for framing the widely criticised Covid vaccination policy that came into effect on May 1. “The Centre had been running the vaccination since January 16, and the people were following all the protocol to get the jabs. But some of the states began demanding decentralisation, while there were questions about the age groups and the priority categories. Varied kinds of pressure tactics were employed, including questions about initial vaccinations of senior citizens,” he said. A similar line of argument earlier came from NITI Aayog member V K Paul, who had squarely blamed the states for messing up the campaign. But CPI (M) general secretary Sitaram Yechury criticised the PM’s reasoning. “The Union government and the BJP must learn to accept responsi- bility for its failures when people of this country have paid with their lives. This incessant focus on spin and PR is an assault on and insult to the millions who perished in the pandemic,” he said. Yechury attributed the latest policy shift to pressure from the Supreme Court’s observations. Opposition-r uled states broadly welcomed the PM’s decision. Tamil Nadu Chief Minister M K Stalin said “as the Prime Minister stressed multiple times that health is a state subject, it will be appropriate for each state to be given complete control over registration, validation and administration procedures.” Chhattisgarh health minister T S Singh Deo had a pithy one-liner: “der aaye dusrust aaye” (better late than never). Punjab Chief Minister Amarinder Singh said he had written twice to the PM and the Union health minister for Central procurement and distribution of vaccines for all age groups. “This was the only feasible soP7 lution,” he said. Customers at Ambience Mall in Vasant Kunj after it reopened following the relaxation of Covid lockdown in New Delhi on Monday | Shekhar Yadav Vax drive: AAP govt plans jabs for elderly at polling booths E x p r e ss N e ws Se r v i c e @ New Delhi THE Delhi government will launch a special vaccination drive to encourage senior citizens to get vaccinated against Covid-19 with the help of polling booth personnel. The ‘Jahan vote, vahan vaccination’ campaign of the Delhi government will inform people to visit their designated polling stations to get vaccinated. It may also help them with transportation. In the first phase, CM Arvind Kejriwal said that BoothLevel Officers (BLOs) will visit people in their wards. These teams will encourage citizens above 45 years to get vaccinated at local polling booths in 70 civic wards. “The problem being faced is that the vaccination centres that we have opened remain mostly empty because of which the medicine remains unused. It was realized that instead of the people turning up to us, we have to go to the people,” he said. The vaccine war between the state government and the Centre has been going for a month. The ruling AAP has attacked the BJP for “petty politics” over the distribution system. The Delhi government plan is that within four weeks, if there is no shortage of vaccine, every person above the age of 45 years will get vaccinated in Delhi. There are about 57 lakh people in Delhi, who are above the age of 45 years, out of which 27 lakh were administered the first dose. So, only 30 lakh people are left who have to be administered the vaccine under this scheme. “Booth-level officers will try to convince those who refuse to get vaccinated,” said the CM. The BLOs will be accompanied by civil defence volunteers, making up each team of two-three people. The government said the scheme has started in 70 civic wards. There are 280 wards in Delhi. The initiative will be carried out in 70 wards each week. NCLT clears Piramal group’s bid for home loan provider DHFL Quota demand: Maratha agitation from June 16 E x p r e ss N e ws Se r v i c e @ Mumbai Dipak Mondal @ New Delhi AFTER many twists and turns as well as an acrimonious fight between Piramal and Adani groups, the corporate insolvency resolution process of DHFL has finally seen a closure with the National Company Law Tribunal (NCLT) approving Piramal Group’s bid for the distressed home loan provider. Piramal Group’s resolution plan offers `37,500 crore against creditors’ total claim of `86,700 crore. The creditors included banks, financial institutions as well as around 74,000 fixed deposit holders. As per Piramal’s plan, banks will have to take a haircut of 60-65% while it is even higher for fixed deposit holders at 75%. However, the tribunal’s order suggests the Committee of Creditors reconsider the amount for deposit holders. DHFL was referred to the NCLT by the Reserve Bank of India in November 2019, making it the first financial service provider to be taken to the tribunal for insolvency The cen. tral bank invoked the new rule for insolvency of financial services providers to refer DHFL for insolvency, over its failure to repay a loan from State Bank of India. NCLT admitted the insolvency application on 3 December 2019 and appointed R Subramaniakumar as the administrator. Also in the race for DHFL were Oaktree Capital, which had offered `34,000 crore, and What will happen to DHFL shares? The shares of DHFL would be delisted from stock exchanges post acquisition by Piramal Capital and Housing Finance, say experts citing IBC guidelines and Sebi delisting norms. According to sources, the company may merge itself with DHFL for which a call would be taken after all legal and regulatory clearances are obtained Adani Group, which was ready to shell out `33,000 crore. While the tribunal has approved Piramal’s bid, there are a few legal impediments. Expromoter of DHFL Kapil Wadhawan had offered for settlement and was ready to pay back `91,000 crore to creditors. After his offer was rejected, Wadhawan moved the Supreme Court. Hearings are pending. Another writ petition filed by a fixed depositor – Sasakawa-India Leprosy Foundation – challenging the constitutional validity of Financial Service Providers rule under the IBC Code is also pending before the Delhi High Court. Welcoming the NCLT order, the Piramal group said it is a significant milestone in DHFL’s resolution and an affirmation of the sanctity of the Insolvency and Bankruptcy Code process in India. THE Central Board of Secondary Education (CBSE) on Monday asked all schools affiliated with it to complete internal assessments by June-end and conduct practical examinations for Class 12 students online. The directive comes a week after the Centre, following a high-level meeting chaired by Prime Minister Narendra Modi, decided to cancel the board examination this year in view of the pandemic. Nearly 12 lakh students had registered for the examinations, traditionally held in the month of March every year. The government has said students will be evaluated instead through a “well-defined” and “time-bound” criteria for an assessment plan, which is now being drafted and will include internal assessment among others. CBSE sources said many schools had approached it saying carrying out internal assessments was proving to be difficult as conducting practicals was a problem due to the Covid situation. “Schools with pending internal assessment and practicals should complete them through online mode and submit to the board by 28 June,” read the CBSE circular. The earlier deadline for uploading marks was June 11. The latest order gives schools extension for conducting practical work while underlining that no further extension will be given. Schools have also been asked to strictly adhere to Covid protocols while conducting the assessments. 18 DEAD IN PUNE CHEM FACTORY FIRE Fire bellows out of a unit at SVS Aqua Technologies at Ghotawade Phata in Pune on Monday | PTI | P8 15 women workers among those killed At least 18 people, including 15 women, were charred to death in a devastating fire at SVS Aqua Technologies, a chemical factory located at an industrial area in Pune district on Monday afternoon. Many workers are still missing Fire breaks out after machine exploded Maha govt, Centre announce `7L ex gratia The fire broke out after a machine exploded. Thirtyseven people, most of them local residents, were working at the plant, which manufactures chlorine dioxide, a disinfectant used to treat drinking water Maharashtra deputy CM Ajit Pawar announced an ex-gratia of `5 lakh to the families of those who died, while Prime Minister Narendra Modi offered `2 lakh each for the next of kin of the deceased, and `50,000 to those injured in the accident THE Maratha community has decided to launch the massive agitation demanding reservations on June 16, with a prominent BJP Rajya Sabha MP openly extending his support to the cause. The Supreme Court had cancelled the 16 per cent quota for the Marathas, saying that the Uddhav Thackeray government cannot give reservations to any caste and community . The development come a day ahead of Maharashtra Chief Minister Uddhav Thackeray’s meeting with Prime Minister Marendra Modi. NCP chief Sharad Pawar is also likely to meet Modi. BJP’s Rajya Sabha MP Chhatrapati Sambhaji announced the NATIONWIDE Fresh cases Recoveries Deaths june 6 june 7 1,14,460 1,00,636 1,89,232 1,74,399 2,677 2,427 June 16 agitation at the memorial of Shahu Maharaj in Kolhapur. BJP state president Chandrakant Patil has extended the support of this Maratha agitation. Patil said the party is with the Maratha community and continue its fight till the community gets justice. Sambhaji said he was ready to sacrifice his life for the progress of the community “I . will fight till the last moment of life. The community should get reservations. I will keep raising my voice for the community. Every community is getting reservations, then why not the Marathas?” “The Bhosale committee had given the report that has to be pursued in Supreme Court and other forums as well,” he added. Delhi Fresh cases Recoveries Deaths june 6 381 1,189 34 june 7 231 876 36 M E R I T oC R A C Y Grocer’s IIT passout son tops Bihar civil service exam R a j e s h K u m a r T h a k u r @ Patna Om Prakash Gupta, son of g rocery shopkee per Bindeshwar Sah, topped among 1,454 successful candidates in the 64th round of competitive exam of Bihar Public Service Commission (BPSC) of which results were declared on Sunday. What makes the achievment more special is the fact that it was Gupta’s first attempt. As a resident of Sonaru village in Patna’s Fatuha areas, Gupta belongs to a middle class family and did his B.Tech from , IIT Roorkee. His father had a grocery shop that shuttered in 2014, affecting the financial condition of the family. Unfazed, Gupta took up tuition for IIT aspirants in Patna to meet the household expens- es and his studies for both UPSC and the BPSC. Gupta has also cleared the UPSC Main exam whose interview dates are yet to be announced. He has opted math as an optional in both the UPSC and the BPSC exams. “I studied for at least six hours daily for both exams, besides providing tuition to earn a living,” he said. He has declined job offers from private companies because of his pass i o n f o r a d m i n i s t r a t ive services. “The hope that I see in the eyes of my parents, the support of my sisters and brothers and appreciation of the local people has kept me going. They are the people who deserve all the credit for my success,” he told this newspaper. “I studied six to seven hours per day for clearing the both UPSC and BPSC examination, besides tutoring others to support my family as the income had almost dried up,” Gupta said, adding that he refused some lucrative jobs offered by private companies because of his passion to enter administrative services. Regarding his secret of success, the Patna resident said if one remains dedicated towards goal in life, nothing can be an obstacle.
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