Latest news with #HarshMalhotra
Hans India
6 hours ago
- Business
- Hans India
Over 37,000 companies opted for voluntary strike-off in 2 years: Centre
New Delhi: Between May 1, 2023, and June 30, 2025, a total of 37,212 companies voluntarily removed their names from official records under Section 248(2) of the Companies Act, 2013, the Parliament was informed on Tuesday. 'During the period from 01.05.2023 to 30.06.2025 total number of 37212 companies have availed the exit process under Section 248(2) of the Companies Act, 2013,' according to figures furnished by Minister of State for Corporate Affairs Harsh Malhotra, in a written reply to a question in the Rajya Sabha. These companies chose to exit the registry after extinguishing all their liabilities, following the due process prescribed under the law, the minister said. Section 248(2) allows companies to apply for strike-off if they are no longer carrying on business and have cleared all dues. Responding to a question the minister clarified that while the last government-led strike-off drive under Section 248(1) was conducted in 2022-23, no such mass drive is currently underway. 'Under Section 248(1), the Registrar of Companies can strike off firms that have not carried out any business or operations for two consecutive financial years and have not applied for dormant status, or where subscribers have not paid the promised share capital within 180 days of incorporation,' he mentioned. A voluntary strike-off is when a company decides to close down on its own, with the approval of its shareholders, after clearing all its pending debts and dues. The company then applies to have its name removed from the official register of companies, which means it will no longer exist. This is different from an involuntary strike-off, where the Registrar of Companies (ROC) starts the process to close a company because it has not been following the rules or has been inactive.
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Business Standard
a day ago
- Business
- Business Standard
71,000 offers made in second round of PM internship pilot project
The Prime Minister Internship Scheme's Pilot Project has received applications nearly four times the total 1.18 lakh internship opportunities offered by 327 companies, according to a parliamentary reply. However, these companies have made a total of 71,000 internship offers so far, Minister of State for Corporate Affairs Harsh Malhotra informed the Lok Sabha on Monday. 'Currently, rolling out of offers and the process of acceptances and joining by interns is in progress,' the reply stated. In the first round of the pilot project, fewer than 15 per cent of candidates who were offered internships ended up joining the scheme. Malhotra said 22 per cent of the total applications in the second round were from Scheduled Caste and Scheduled Tribe candidates, of whom 16.8 per cent received internship offers. In the first round, partner companies made over 82,000 internship offers to more than 60,000 candidates, out of which over 28,000 accepted the offers. Ultimately, around 8,700 candidates joined their internships. The government has utilised approximately ₹50 crore under the scheme since its inception. For FY26, an allocation of ₹10,831.07 crore has been made in the Union Budget for the PM Internship Scheme (PMIS), according to the reply. Data from the Ministry of Corporate Affairs (MCA) showed that Assam led the states with the highest number of internship candidates at 1,408, followed by Uttar Pradesh with 1,067. Among the participating companies, Oil and Natural Gas Corporation Limited offered the highest number of internships at 841, followed by Oil India Limited with 492 opportunities. In Round II of the PM Internship Scheme Pilot Project, which commenced on 9 January 2025, about 327 partner companies posted over 1.18 lakh internship opportunities. Against these, approximately 4.55 lakh applications were received from more than 2.14 lakh applicants. As of 15 July 2025, Malhotra said, partner companies had made over 71,000 offers. The Prime Minister Internship Scheme (PMIS) was announced in the Union Budget for 2024–25. It aims to provide internship opportunities to one crore youth in the top 500 companies over five years. The pilot project, targeting 1.25 lakh internship opportunities in one year, was launched on 3 October 2024. 'The shortlisting process is aimed at promoting diversity and social inclusivity in the internship programme through representation of Scheduled Castes, Scheduled Tribes, Other Backward Classes, and Persons with Disabilities in the shortlist sent to the concerned company for further selection as per their respective processes and criteria,' Malhotra informed Parliament.
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Business Standard
a day ago
- Business
- Business Standard
71,000 offers made in second round of PM internship scheme pilot
Over 4.5 lakh applications received for 1.18 lakh internship opportunities in the PM Internship Scheme's second pilot phase; low joining rate noted in first round premium Ruchika Chitravanshi New Delhi Listen to This Article The Prime Minister Internship Scheme's Pilot Project has received applications nearly four times the total 1.18 lakh internship opportunities offered by 327 companies, according to a parliamentary reply. However, these companies have made a total of 71,000 internship offers so far, Minister of State for Corporate Affairs Harsh Malhotra informed the Lok Sabha on Monday. 'Currently, rolling out of offers and the process of acceptances and joining by interns is in progress,' the reply stated. In the first round of the pilot project, fewer than 15 per cent of candidates who were offered internships ended up joining the scheme. Malhotra
Hindustan Times
2 days ago
- Politics
- Hindustan Times
Delhi cop's book traces history of policing in India since Vedic age
Dinesh Kumar Gupta, additional commissioner of police (traffic) of the Delhi Police, unveiled his new book 'Policing and Crime Trends in India' at the India Habitat Centre on Sunday. BJP MPs Harsh Malhotra, Manoj Tiwari and Kiran Choudhry, actor Vindu Dara Singh, among others, at the book launch on Sunday. (ANI) The book delves into the development of policing from ancient civilisations to the modern day, examining shifts in crime, public perception, and police capability. It underlines the impact of colonial rule and urges a citizen-centric, proactive policing model to tackle present-day challenges like cybercrime, terrorism, and gender-based violence. The book also delves into the evolution of the Indian Police Service (IPS), span from British era to the present day. 'I have explored how policing from Vedic times originated and what changes have occurred in policing and crime over time. I have shared my own experience and insight in regards to policing and what needs to be done from our side to improve it. My book is a culmination of my journey, inspired by my father, a passionate police officer who served in the UP Police. His writings and values have instilled in me a sense of duty, resilience and compassion,' said Gupta. Union minister of state Harsh Malhotra was the chief guest. Delhi commissioner of police Sanjay Arora, MPs Manoj Tiwari and Kiran Choudhary, professor GS Bajpai, vice-chancellor, National Law University, IPS officers Vivek Gogia, Devesh Chandra Srivastava, Ajay Choudhary, and Jaspal Singh, para-athlete Deepa Malik, and chief minister Rekha Gupta were also present.
Economic Times
6 days ago
- Business
- Economic Times
Parliament watch: From debt to GST to NPA, govt shares key data as Monsoon Session kicks off
Synopsis In FY24, the Centre forwent ₹99,000 crore in corporate tax revenue due to incentives. India's external debt reached $736.3 billion, remaining sustainable at 19.1% of GDP. The PM Internship scheme saw 22,500 offers accepted, while the government issued ₹72,275 crore in sovereign gold bonds. PLI schemes drove ₹1.76 lakh crore in investments, creating over 12 lakh jobs. PTI New Delhi: Security personnel atop the Parliament building, in New Delhi. Centre Gave up ₹99,000 cr Corporate Tax Revenue in FY24 on Account of Tax Incentives The Finance Ministry Tuesday informed Parliament that the Centre has foregone ₹99,000 crore of corporate tax revenue in FY24 on account of tax incentives. The corporate tax revenue foregone in 2023-24 stood at ₹98,999 crore, followed by ₹88,109 crore and ₹96,892 crore in 2022-23 and 2021-22, respectively, MoS for finance Pankaj Chaudhary said in a written reply to Rajya Sabha. In 2020-21 and 2019-20, the total corporate tax revenue foregone was ₹75,218 crore and ₹8,043 crore, respectively. At $736.3 b, External Debt Hits 19.1% of GDPIndia's external debt stood at $736.3 billion as of March 2025, which was only 19.1% of gross domestic product and 90.8% of forex reserves, MoS for finance Pankaj Chaudhary told RS Tuesday. 'These debt vulnerability indicators are benign and indicate India's external debt remains sustainable and prudently managed,' he said. He added that external debt of nations rises over time as it is associated with increasing investment and productivity, which has also been the case with India. "India has managed its external debt prudently with the overarching objective of keeping the current account deficit within sustainable limits." PM Internship Scheme: 22,500 Offers Accepted So Far About 71,000 offers were made by companies to the youth under the second round of the PM Internship scheme as of July 17 and about 22,500 were accepted by them, the Rajya Sabha was informed on Tuesday. In a written reply, minister of state for corporate affairs Harsh Malhotra said about 327 companies had posted over 118,000 internship opportunities against over 4,55,000 applications. No GST Compensation Pending, Except to Arunachal & Manipur The Centre Tuesday informed Parliament that no amount is pending for release of the final GST compensation to states and Union Territories except Arunachal Pradesh and Manipur. In the case of these two states the Centre has not received the certificate of Auditor General, required to release the payment, MoS for finance Pankaj Chaudhary told Rajya Sabha in a written reply. ₹72,275 cr Sovereign Gold Bonds IssuedThe government issued sovereign gold bonds worth ₹72,275 crore–equivalent of 146.96 tonnes of the precious metal—between the scheme's launch in late 2015 and March 2025, minister of state for finance Pankaj Chaudhary said Tuesday. In a written reply in the Rajya Sabha, the minister also said the mopup under the gold monetisation scheme (through medium-and-long-term deposits) was to the tune of 37.81 tonnes during this suggests the gold bond scheme was far more popular than the monetisation one. The government, however, would consider the cost of garnering funds via such gold bonds before issuing any fresh tranche, he added. The government hasn't budgeted any mopup through such bonds this fiscal due to high borrowing costs. 'The recent global geopolitical unrest has impacted gold prices significantly, increasing the cost of borrowing through sovereign gold bonds,' Chaudhary added. PLI Scheme Drives ₹1.76 L crore Investments Actual investment of ₹1.76 lakh crore have been realised till March 2025 across 14 sectors covered under Production Linked Incentive (PLI) schemes, leading to incremental production/sales of over ₹16.5 lakh crore and employment generation of over 12 lakh. The production of mobiles in value terms has increased almost 146% to ₹5.25 lakh crore in 2024-25 from ₹2.13 lakh crore and their exports rose 775% to ₹2 lakh crore in FY25 from ₹22,870 crore in 2020-21. The pharmaceuticals sector has witnessed cumulative sales of ₹2.66 lakh crore which includes exports of ₹1.7 lakh crore achieved in the first three years of the scheme. The scheme has contributed to India becoming a net exporter of bulk drugs ( ₹2,280 crore) from a net importer of ₹1,930 crore. 'A number of foreign companies have established or expanded their operations in India under the PLI scheme. For example, Apple, a global smartphone company, has shifted its suppliers to India viz. Foxconn, Wistron and Pegatron,' the commerce and industry ministry told Lok Sabha. Over ₹35,105cr Tax Demands Raised Under Black Money Law The finance ministry told Parliament Tuesday that the government has raised tax and penalty demands of over ₹35,105 crore from 1,021 assessments and filed 163 prosecution complaints till March 31 under the foreign black money law. The government has recovered ₹338 crore under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, towards tax, penalty, interest between July 1, 2015 and March 31, 2025, MoS for finance Pankaj Chaudhary told Rajya Sabha in a written reply. Renewables Sector Creates Over 600,000 Jobs in 5 Years An estimated 6.61 lakh jobs were created in the last five years from FY21 to FY25 in the renewable energy sector, minister of state for renewable energy Shripad Yesso Naik said in a written reply to the Rajya Sabha on Tuesday. VGF Scheme Extended The power ministry has recently extended the Viability Gap Funding (VGF) scheme for battery energy storage systems for additional 30,000 MWh capacity through the Power System Development Fund, MoS for renewable energy Shripad Yesso Naik informed the Rajya Sabha on Tuesday. Action Taken Against 886 Entities Enforcement action has been taken against 886 entities between April 2024 and June 2025 for fraudulent or unfair trade practices relating to the stock market, minister of state for finance Pankaj Chaudhary told the Rajya Sabha Tuesday.
