Rajasthan

• 14 Jul 2022

Federation of Rajasthan Trade and Industry

Why in News?

• On July 13, 2022, in the hospitality of Rajasthan Governor Kalraj Mishra, a commerce and industry organization 'Federation of Rajasthan Trade and Industry' (FORTI) youth unit was organized at the Marriott Hotel.

Key Points

• In this program, Governor Kalraj Mishra called for creating an environment for young startups by adopting innovation with encouragement to small and medium industries to strengthen the economy of the state and to build a prosperous Rajasthan.
• The Governor said that under 'Make in India', if emphasis is laid on quality enhancement of local products, good packaging and effective marketing through social media platforms, India will definitely emerge as the world's largest manufacturing hub.
• He also expressed the need to work to promote women-owned businesses. He said how to take products made by local women to the world market through digital technology and how to promote women entrepreneurship at every level, work should be done for it.
• The Governor stressed on economic nationalism to pull the economy out of the covid era. He said that domestic control over the economy, manpower and capital formation is the greatest need of the hour.
• He said that the path of 'Self-reliant India' would be paved only with the development of small, micro and medium industries. There is a need to make effective efforts to modernize the local products to reach the global market. He said that commercial organizations including FORTI should take initiative to list villages traditionally associated with handicrafts and provide market for local products here.

One Time Debt Resolution Scheme

Why in News?

• On July 13, 2022 Rajasthan Minorities Finance and Development Co-operative Corporation Limited, Jaipur has implemented one-time loan resolution scheme-2022-23 for the borrowers.

Key Points

• The benefit of this scheme will be availed by the borrowers of Jaipur district, under which the beneficiaries of professional and education loans disbursed up to March 31, 2022 will be eligible for waiver of penal interest.
• District Minority Welfare Officer Shakeel Ahmad said the scheme will be effective till March 31, 2023.
• Under the scheme, 100% rebate of penal interest will be given to eligible borrowers on depositing the surplus amount (principal and interest) in lump sum.