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April 26, 2025
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How plastic recycling helps to conserve nature

How plastic recycling helps to conserve nature
Plastic not only pollutes soil and water with harmful substances, but plastic waste is also responsible for the death of many marine animals and those living on land as they mistake it for food and try to consume it. Cases of stray dogs and cats getting their heads stuck in discarded plastic containers on the roads and suffocating to death is not uncommon these days.
There are several ways in which plastic pollution impacts our society and environment. Plastic pollution alters habitats and natural processes that directly affect people’s health & wellbeing, livelihoods and food. Plastic waste, such as roadside litter, sea beaches, river banks and landfill sites can be removed by encouraging individual responsibility, by hosting clean up drives etc, which are also done by several companies and non-profit organisations as part of their CSR.
However, plastic pollution does not only mean the visible plastic waste around us. Abandoned plastic over the time gets fragmented into micro and nanoplastic particles that cannot be easily removed from the environment.
A staggering 220 million tonnes of plastic waste are projected to be generated in 2024, reveals a study released on April 11, 2024, by Swiss non-profit EA Earth Action. India uses around 14 million tonnes of plastic annually and is among 12 nations responsible for 60% of the world’s mismanaged plastic waste.
Plastic recycling reduces the need to create more plastic by extracting raw materials from the earth. This helps in reducing emissions of heat-trapping gases into the atmosphere. At the same time, plastic recycling benefits the landfills as it reduces the amount of plastic waste getting there.
Recycling plastics has the potential to make a significant difference, and it is time we must understand the benefits of recycling on both the environment and our lives. Ahead of World Nature Conservation Day 2024, The CSR Journal takes a look into why plastic recycling is necessary.

Plastic recycling helps reduce pollution

Recycling plastic instead of manufacturing it will help reduce the production of harmful greenhouse gases, which substantially contribute to the increasing pollution levels in our environment. Also, recycling plastic helps to reduces pollution that is caused by burning plastic waste.
By recycling more plastic, we are ensuring a reduced amount of plastic entering the landfills. Which means, we can prevent plastic waste from ending up in landfills through recycling. Lesser amount of plastics in landfills means less emission of common landfill gases, like carbon dioxide and methane, both of which damage the environment.
Plastic Pollution

Plastic recycling helps to conserve natural resources

While manufacturing plastic, natural resources such as water, oil, natural gas, and coal are required as raw materials. By recycling plastic, we can actually save these vital organic resources.
A lot of oil is used in plastic production. Although recycling also uses fossil fuels, it’s substantially less than the amount used to create plastic. Reduced oil consumption also means reduced emissions of CO2 and other greenhouse gases that are produced while manufacturing plastic.

Plastic recycling saves power

Plastic bottle manufacturing plants need a high amount of power consumption while producing multiple bottles. Therefore, recycling plastic bottles, can considerably reduce this energy use, which in turn leads to making the environment greener.

Plastic recycling boosts the economy

Not just environmental benefits, recycling plastic also contributes to boosting the economy. Plastic recycling is a difficult task that requires hard work, skill, time and efforts. In the present day, there are several companies dedicated to recycling plastic waste not just in India but across the world. The plastic waste recycling industry is not only opening up career opportunities but also offers prospects for economic growth.

Plastic recycling promotes a sustainable lifestyle

By recycling plastic and using recycled plastic, you are practicing a sustainable lifestyle and in turn contributing to environmental conservation. It is not only important to practice the same in day to day life but it is equally necessary to teach our children to be sustainable from a very early age, so that we can leave behind a healthier planet for our future generations. It is important to know the impact that our habits can have on the planet so that we can make the right changes in our daily lives.
Sharing is opinion on the above, Mr. Sanjay Prakash, MD & CEO, SBI Foundation, expressed, “On this World Nature Conservation Day, we stand committed to sustainable practices and nature conservation. We are dedicated to helping youth drive positive change at the grassroots level through digital innovations and sustainable practices to preserve biodiversity and combat climate change. By practicing sustainable solutions to recycle and upcycle plastic waste, we can not only protect our natural heritage but can also create a more sustainable and resilient future for all. I encourage local communities and stakeholders to come forward to ensure a harmonious coexistence of mankind and nature.”

Plastic waste mismanagement a global challenge

Sharing his views on the challenges to plastic waste management and the need for recycling across the globe, Mr. K. Ganesh, Director Sustainability & Corporate Affairs, Bisleri International Pvt. Ltd. Shared, “Plastic waste mismanagement is a significant global challenge, with repercussions on environmental health and sustainability. India, as one of the largest producers and consumers of plastic products, faces immense challenges in handling its plastic waste. The country’s growing urbanization and industrialization have led to an increase in plastic consumption, exacerbating the waste management problem. India generates approximately 9.46 million tonnes of plastic waste annually, with a recycling rate of about 60%, significantly higher than the global average of around 20%.
However, the remaining 40% of plastic waste is either landfilled, incinerated, or ends up in water bodies, poses a severe threat to our oceans, wildlife, and even human health. Microplastics, tiny plastic fragments, are now prevalent in our environment, raising concerns about their potential impact on our food chain and overall well-being. A combination of government regulations, industry innovation, public awareness, and infrastructure development is essential to tackle this critical challenge.”

plastic waste

 

Throwing light on why recycling is necessary, he further said, “Recycling remains a powerful tool in combatting plastic waste. By prioritizing responsible consumption and actively seeking out products with recycled plastic content, we can collectively make a difference. Additionally, exploring innovative solutions like using reusable materials, 100% recyclable plastics, and implementing efficient plastic waste management systems is crucial. These efforts can not only reduce our reliance on virgin plastic but also create new employment opportunities, particularly for waste pickers who play a vital role in the informal recycling sector. By promoting a circular economy where plastic is kept in use for longer and waste is minimized, we can create a more sustainable future for generations to come.”

55.6% Indians Cannot Afford Healthy Diet: UN Report

55.6% Indians Cannot Afford Healthy Diet: UN Report
Gowainghat, Bangladesh - November 06, 2019: Poor woman standing in front of her broken house fighting to survive with a little boy child on her lap. Happy mother and child bonding.
About 55.6 per cent of India’s population is unable to afford a healthy diet, according to the United Nations’ State of Food Security and Nutrition in the World (SOFI) report. While this number has been decreasing each year consistently except for the time India was battling with the COVID-19 pandemic, it is still higher than the average of all the South Asian Countries. In fact, it is second highest, right behind Pakistan.

SOFI Report

The report, published by five UN agencies, described a ‘healthy diet’ as comprising four key aspects: diversity (within and across food groups), adequacy (sufficiency of all essential nutrients compared to requirements), moderation (foods and nutrients that are related to poor health outcomes) and balance (energy and macronutrient intake).
Currently, of the total budget allocated to public spending on food security and nutrition in India, 83 per cent of it is spent towards food consumption, which includes food availability and access, and just 15 per cent is spent on major drivers of food insecurity and malnutrition.
Another global report has also raised concerns about dietary habits in India, highlighting that there is a significant increase in the consumption of unhealthy foods compared to nutritious options in the country.
The Global food policy report 2024: Food systems for healthy diets and nutrition had found that at least 38 per cent of the Indian population ate unhealthy foods, while only 28 per cent ate all five recommended food groups, which include at least one starchy staple food, one vegetable, one fruit, one pulse, nut or seed and one animal-source food.

Undernourished population of India

India had over 194.6 million undernourished people between 2021 and 2023. This was 13.7 per cent of the total population ‘Undernourishment’ refers to a person is not able to acquire enough food to meet the daily minimum dietary energy requirements over a period of one year, as per the Food and Agriculture Organization or FAO’s definition.
The number of children under five years affected by ‘wasting’ in the country was 21.9 million which represented 18.7 per cent children globally. In addition, over 36.1 million or 31.7 per cent children were stunted in 2022. The FAO has described wasting as ‘low weight-for-height’, a lethal form of malnutrition, whereas stunting is described as ‘low height-for-age’ and is the result of chronic or recurrent undernutrition. Overall, Asia had the highest wasting levels among children under five.

CSR: Educate Girls organises Shiksha Rath campaign to spread awareness about education at the grassroots level

CSR: Educate Girls organises Shiksha Rath campaign to spread awareness about education at the grassroots level
Educate Girls, a leading non-profit organisation, committed to raising awareness about the importance of educating girl children, organised a Shiksha Rath campaign in Uttar Pradesh’s Sahason village in Bahadurpur block in Prayagraj.
The Shiksha Rath, a van equipped with posters and banners, aims to spread awareness about the benefits of educating girls in rural areas. The Shiksha Rath, which is a part of the enrolment campaign by Educate Girls was held with the goal of encouraging more parents to enrol their girl children into schools.
This Shiksha Rath was organised in partnership with the village head, village educational institutions, and volunteers. With carefully curated street plays, awareness rallies, speeches, and interactive demonstrations, it awakened the spirit of education among village residents.
On this occasion, Block Education Officer Rakesh Yadav said, “Education is the foundation of progress of any society. The purpose of Shiksha Rath is to spread the message of education to everyone in the village and motivate children to go to school. The Shiksha Rath campaign by Educate Girls does commendable work. I am sure that with this effort, more and more girl children will enrol in schools.”
Highlighting the organisation’s efforts in collaboration with the District Administration and the District Education Center, the State Operations Head of Educate Girls, Nitin Kumar Jha, said, “Educate Girls is creating awareness about the importance of enrolling girls in school amongst every community in the village. We hope to be able to enrol as many girls as possible in school this year.”
District Coordinator Rajeev Tripathi was present at the occasion along with Abhinav Dubey, Dashrath Sharma, Pushpendra Singh, Narendra Patel, Pankaj Singh and Shashi Prakash from Educate Girls.
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Healthcare Outreach Organised at Pandharpur under CSR

Healthcare Outreach Organised at Pandharpur under CSR
The IIFL Foundation, the CSR branch of IIFL Finance Ltd., collaborated with BhaktiVedanta Hospital & Research Institute to successfully accomplish the ‘Pandharpur Medical Camp 2024’, which commenced on July 12th, 2024. This yearly initiative provides comprehensive healthcare services to the Warkari community in Pandharpur during Ashadhi Ekadashi.Over the years, the collaboration has been able to serve more than 837874 warkaris. The word ‘warkari’ is a Marathi term that means “one who performs the wari” or “pilgrim”. It refers to a religious movement within Hinduism’s bhakti spiritual tradition. Warkaris are devotees of Vitthal, also known as Vithoba.
The camp has been held annually since 2007, providing all-body health checkups and outpatient services to attendees. Immediate care and follow-up treatments are ensured as required. More than 300 volunteers, including doctors and para-medical staff from BhaktiVedanta Hospital, participate in this selfless service. Specifically designed for Warkari pilgrims, around 20 lakh people who are part of the nearly three-week-long annual pilgrimage or Wari make the strenuous journey on foot during the Pandharpur Wari. The camp also ensures they are well-fed with nutritious meals and refreshments, enhancing their overall well-being throughout the pilgrimage.
Commenting on the Pandharpur Medical Camp, Mrs. Madhu Jain, Director, IIFL Foundation, said, “Our association with BhaktiVedanta Hospital & Research Institute reflects our ongoing commitment to bring healthcare closer to communities in need. Seeing the impact firsthand, especially on the faces of the warkari pilgrims, strengthens our resolve to continue supporting initiatives that promote well-being and inclusivity.”
The medical camp reflects the core mission of the IIFL Foundation to positively impact communities through impactful CSR initiatives. IIFL Foundation is the CSR arm of diversified financial services conglomerate – IIFL Group, which is present across the length and breadth of India serving over one crore people. IIFL Finance which is the largest company under the IIFL umbrella plays an important role in India’s financial landscape, offering a diverse range of financial products and services. With a strong network comprising over 4,800 branches and digital platforms nationwide, IIFL Finance significantly contributes to economic empowerment and enhances financial inclusion.
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CSR: Raincoats donated to Kochi Municipal Corporation Sanitation Workers

CSR: Raincoats donated to Kochi Municipal Corporation Sanitation Workers
Kochi, India: Muthoottu Mini Financiers, one of India’s leading gold loan NBFCs, popularly known as ‘Yellow Muthoottu’, has reaffirmed its commitment to community welfare by donating 1,000 raincoats to the sanitation workers of Kochi Municipal Corporation.
The raincoat distribution event was inaugurated by Adv. Anil Kumar, Mayor of Kochi Municipal Corporation. During the ceremony, Mr PE Mathai, CEO of Muthoottu Mini Financiers, handed over the raincoats to the sanitation workers, emphasizing the company’s dedication to contributing positively to the community.
The event witnessed the presence of several dignitaries, including Health Standing Committee Chairman T. K. Ashraf, Kochi Corporation Additional Secretary Muhammed Shafi, Muthoottu Mini Chief Marketing Consultant Mr. Kiran James, and Vice President Admin & Infra Mr. Bibin P.S. Health Officer Dr. Sasi Kumar and Clean City Manager Mr. Sudheesh Kumar.
On the occasion, Mr. P.E. Mathai, CEO of Muthoottu Mini Financiers, said, “We are honoured to offer support to the sanitation workers who tirelessly work to keep our city clean, especially during the monsoon season. Providing them with raincoats is a small gesture of our appreciation for their hard work and dedication towards the city. Muthoottu Mini Financiers is committed to making a tangible impact on the lives of those who contribute significantly to our society. Aligning with our core value of community service, we believe it is imperative for sanitation workers to maintain utmost hygiene and safety. This support for the sanitation staff across Kochi is a humble effort to give back to the people who have supported us over the years.”
Muthoottu Mini Financiers, as part of its Corporate Social Responsibility (CSR) initiative for FY 2023-24, distributed essential school supplies such as school bags, umbrellas, and notebooks to underprivileged school-going children across 11 states and 1 Union Territory. This activity aligns with the company’s commitment to social responsibility and aims to support the upcoming generation in carrying out their educational pursuits with ease and confidence. Through this CSR activity, Muthoottu Mini Financiers believes in fulfilling its social commitment to society, supporting the community through its welfare programs. By doing so, the company aims to make a positive impact on the lives of those who need it most, empowering them to dream big and achieve their goals.

 

 

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How Bioplastics from cassava are boosting local economy in Nagaland

Select How Bioplastics from cassava are boosting local economy in Nagaland How Bioplastics from cassava are boosting local economy in Nagaland
Nagaland, India: Small holder farmers from 10 villages in Mokokchung district of Nagaland are setting an example in replacing plastics with compostable bioplastic bags made from Cassava starch.
Efforts of the Government to ban single use plastic has made limited impact mainly due to lack of alternative lightweight materials that can replace the widely used plastics.
In order to address this challenge North East Centre for Technology Application and Reach (NECTAR) has supported an initiative to manufacture Compostable Bioplastic Bag from Cassava Starch (Manihot esculenta).
Ecostarch, a Nagaland based MSME, has set up a facility to manufacture bioplastic bags from Cassava plant in Mokokchung, Nagaland and is mobilizing farmers within 30-40 km range of the production facility to take up Cassava farming. The farmers have already started with the plantation of materials and in about a year it will be ready for harvest.
The current production capacity of the unit is about 3 tons per month and the market survey has revealed demand for more.
Through this model, ‘cassava village’ is being promoted to boost local economy and provide employment opportunity to local youth. Formation of farmer groups are being facilitated to provide them with alternative livelihood opportunities through cassava farming. Farmers are also being trained on cassava cultivation and equipped with useful farming inputs.
Women SHGs (Self Help Groups) operating in all the targeted villages are also being strengthened and encouraged to take up cassava cultivation as their IGA (Income Generation Activities).
Ecostarch aims to set up a biodegradable films/bags manufacturing unit suitable for food packaging and carry bags made of cassava starch sourced locally from farmers. This could employ more local youth in cleaning of raw materials, sorting and packaging of products for shipping.
The effort has sparked an environment friendly plastic economy in the region creating a greener economy. It is expected to act as a potential employment generation activity. It is on the way to transform each village into an enterprising hub, create a greener cyclic economy and bring about much needed economic freedom among the farmers in the rural areas.

 

 

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CSR for Environment: Mega Tree Plantation Drive hosted in Nashik

CSR for Environment: Mega Tree Plantation Drive hosted in Nashik
Nashik, India: ESDS Software Solution Limited, a sovereign cloud services company and United We Stand Foundation, recently organized a mega tree plantation campaign at Sandip University, Nashik. Over 2000+ Trees were planted as part of ESDS’s ambitious plan to plant over 1 billion trees, symbolizing their commitment to environmental sustainability. Themed “Nashikkar, Your Home Needs a Tree, Join the Mass Movement to #reGREENNASHIK,” this initiative was a collaboration between ESDS, and United We Stand Foundation, aiming to engage the entire Nashik community in rejuvenating the city’s green spaces.
The drive was inaugurated by Mr. Piyush Somani, Founder, CMD, CEO – of ESDS Software Solution Ltd, with Mrs. Komal Somani, WTD, CHRO – ESDS Software Solution, by planting a sapling at Sandip University, Nashik, followed by Dr. Rajendra Sinha, (Vice Chancellor Sandip University), Mr. Sagar Matale (Founder and President United We Stand Foundation), Mr. Prafull B Sawant. (Brand Ambassador Nashik Municipal Corporation), 7 Maharashtra Battalion NCC Nashik, Mr. Amit Kulkarni (Nisarga Yuva Manch Maharashtra), Mr. Ankush Chavan (Vice President United We Stand Foundation), Mr. Sachin Devare (Garden Inspector Nashik), Mr. Bipin Shewale (PI Trimbakeshwar) Mr. Shahaji Shah (Hirvankur Foundation) Mahendra Nikum (RFO Samajik Vanikaran Keshtra Nashik), Mr. Tejas Talware (Nashik Ploggers), Mrs. Asha Suvarna(The Gateway Hotel Taj Nashik), Mrs. Agastya Munim (Rotary Club of Nashik North), Dnyaneshwar Dhamne (Nashik Smart City), Adesh Karpe (Karmayogi Career Academy), Akhula Bhamare (Umeed Foundation), Mr. Dharmesh Panchal (United Rockers), Miss Gauri Bhamare (Royal Enfield United).
“We are immensely proud to launch the ‘Nashikkar, Your Home Needs a Tree, Join the Mass Movement to #RegreenNashik’ initiative with the United we Stand Foundation. This mega plantation drive is a crucial step towards combating the rising temperatures and environmental degradation in our beloved city. By engaging the entire Nashik community, we aim to create a greener, healthier, and more sustainable future for generations to come. I urge everyone to join us in this mass movement and take an active role in regreening Nashik. Together, we can make a significant impact and ensure a better environment for all, “said Mr. Piyush Somani – Founder, ESDS Software Solution Limited.
Over 750+ volunteers participated in a well-organized campaign, demonstrating a collective solid commitment to environmental conservation. This impressive turnout included employees of ESDS Software Solution, all the members of the United We Stand Foundation, NCC cadets, 20 NGOs, government officials, and various other individuals from Nashik City. The diverse group came together with a shared goal of making a positive impact on the environment. Their collaborative efforts exemplified the power of community engagement in promoting sustainability and set a commendable example for future initiatives. The initial stage of this plantation drive received colossal success, and the subsequent drive will be organized in August.
Commenting on this occasion, Mrs. Komal Somani, CHRO, ESDS Software Solution Limited, stated ”Once, when I was having a conversation with my son Priyansh, I asked him, ‘What gift would you want from us when we grow old?’ his reply amazed me; he said, ‘The only thing I want from you or your generation is a world where we can breathe, live, and be happy.’ Priyansh’s words remind us that we all have a significant role to play in protecting our environment. Let’s go beyond awareness and take actions to provide a sustainable future for generation to come. The onus of parallelly developing green covers across geographies lies not only with an individual or the government but also with responsible corporates like ESDS. I am happy to be a part of such an initiative where the employees have come together as a family and contributed to the core principles of sustainability by pledging to plant 1B+ tress for the larger good of the community and coming generations.”
Speaking on the occasion, Mr. Rajendra Sinha, Vice Chancellor Sandip University, “I am honoured to be here and proud to have contributed our property to this wonderful initiative by United We Stand Foundation and ESDS Software Solution Ltd. We are committed to making our surroundings beautiful and green and hope to receive ongoing support from ESDS for these efforts in the future.”
Commenting on the occasion, Mr. Sagar Matale, Founder and President of United We Stand Foundation, expressed heartfelt gratitude towards all participants: “I extend my sincere thanks to everyone who joined us today, including the dedicated NCC cadets, representatives from all NGOs, government officials, and the enthusiastic individuals from Nashik city. Your presence and active involvement have made this tree plantation drive successful.”
He continued, “As the Founder of United We Stand Foundation, it fills me with immense pride to witness such collective efforts towards securing a sustainable future for generations to come. Our foundation will always remain committed to nurturing green spaces and fostering environmental consciousness, United We Stand Foundation will always be in the forefront for social activities that will create an impact for the betterment of the society.
ESDS ardently endeavours to play a pivotal role in fostering a sustainable and ecologically enriched future. Our commitment is demonstrated in the past through our tireless efforts to transform Ramshej, a barren land in Nashik, into a thriving ecosystem. With the collective efforts of ESDSians, we have successfully planted approximately 300,000 trees and distributed seeds, covering a plantation area of 68,710 square meters. This remarkable achievement stands as a testament to our dedication to environmental conservation and our vision of creating a greener planet for future generations.

 

 

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How Union Budget 2024 benefits MSMEs

Select How Union Budget 2024 benefits MSMEs How Union Budget 2024 benefits MSMEs
The Micro, Small and Medium Enterprises (MSMEs) were part of the four major themes highlighted by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25 announced in the parliament on Tuesday. Among other benefits announced for them in the budget, Micro, Small, and Medium Enterprises will now be able to avail loans up to Rs 20 lakh under the Mudra scheme.
Highlighting that the Central Government has formulated a package that covers financing, regulatory changes and technology support for MSMEs to help them grow and compete globally, the Finance Minister said, “This budget provides special attention to MSMEs and manufacturing, particularly labour-intensive manufacturing.”
The Union Finance Minister proposed the following specific measures in support of MSMEs:

Credit Guarantee Scheme

A Credit Guarantee Scheme for facilitating term loans to MSMEs has been proposed in the budget. This will help MSMEs in purchasing machinery and equipment without collateral or third-party guarantee. The scheme will operate on pooling of credit risks of such MSMEs.
“The (credit guarantee) scheme will operate on pooling of credit risks of such MSMEs. A separately constituted self-financing guarantee fund will provide, to each applicant, guarantee cover up to Rs 100 crore, while the loan amount may be larger. The borrower will have to provide an upfront guarantee fee and an annual guarantee fee on the reducing loan balance,” the Finance Minister said.

Public Sector Banks will assess MSMEs for credit

Public Sector Banks will assess MSMEs for credit, instead of relying on external assessment, as announced by the Minister during her budget presentation. This step is taken by the government to make credit more accessible to MSMEs. Public Sector Banks will also take a lead in developing or getting developed a new credit assessment model, based on the scoring of digital footprints of MSMEs in the economy.
“This is expected to be a significant improvement over the traditional assessment of credit eligibility based only on asset or turnover criteria. That will also cover MSMEs without a formal accounting system,” stated the Union Finance Minister.

Govt promoted fund to support MSMEs during stress with credit

A new mechanism will facilitate continuation of bank credit to MSMEs during their stress period. While being in the ‘special mention account’ stage for reasons beyond their control, MSMEs need credit to continue their business and to avoid getting into the Non-Performing Assets stage. Credit availability will be supported through a guarantee from a government promoted fund.

Mudra loans limit to be enhanced

Pradhan Mantri Mudra Yojana was launched in 2015 to provide loans up to Rs 10 lakh to small and micro enterprises from commercial banks, small finance banks, and non-banking financial corporations.
It was announced in the Union Budget 2024-25 that the limit of Mudra loans will be enhanced from the current Rs 10 lakh to Rs 20 lakh for those entrepreneurs who have availed and successfully repaid previous loans under the ‘Tarun’ category.

Small Industries Development Bank to serve all major MSME clusters

Small Industries Development Bank of India (SIDBI) will open new branches to expand its reach to serve all major MSME clusters within 3 years, and provide direct credit to them. With the opening of 24 such branches this year, the service coverage will expand to 168 out of 242 major clusters.

E-Commerce Export Hubs to facilitate MSMEs and traditional artisans

To enable MSMEs and traditional artisans to sell their products in international markets, E-Commerce Export Hubs will be set up in public-private-partnership (PPP) mode. These hubs, under a seamless regulatory and logistic framework, will facilitate trade and export related services under one roof.

Financial support for Food Irradiation, Quality & Safety Testing

Financial support will be given for setting up of 50 multi-product food irradiation units in the MSME sector. Setting up of 100 food quality and safety testing labs with NABL accreditation will be facilitated.

Turnover threshold of buyers reduced to half

The turnover threshold of buyers for mandatory onboarding on the TReDS platform will be slashed from Rs 250 crore, announced Sitharaman. MSMEs can now get access to cash by selling their unpaid invoices (trade receivables) on a platform called TReDS. Currently, only big companies (with a turnover of Rs 500 crore) are allowed to use this platform. This threshold is being lowered to Rs 250 crore, to enable more companies to use the platform. This measure, apart from including medium enterprises, will also bring 22 more central public sector enterprises and 7,000 more companies onto the platform, said the minister.

 

 

 

Budget 2024: India to Prepare Climate Finance Taxonomy

Budget 2024: India to Prepare Climate Finance Taxonomy
Finance Minister Nirmala Sitharaman has announced that the government would develop a ‘climate finance taxonomy’, in the “Next Generation Reforms” section of the Union Budget 2024-2025. “We will develop a taxonomy for climate finance to enhance the availability of capital for climate adaptation and mitigation. This will support the achievement of the country’s climate commitments and green transition,” the finance minister said in her speech.

What is the importance of the climate finance taxonomy?

With global temperatures rising, and increase in the adverse effects of climate change, there is a need for the countries to transition to a net-zero economy at the earliest. Taxonomies can play a significant role in doing this as they can help ascertain if economic activities are aligned with credible, science-based transition pathways. They can promote deployment of climate capital, and reduce the risks of greenwashing.
In India, a taxonomy could aid in bringing more climate funds from various international sources. Currently, green finance flows in India are falling far short of the country’s current needs. In fact, they only account for around 3% of total FDI inflows to India, according to the Landscape of Green Finance in India 2022 report, published by Climate Policy Initiative.
One of the major reasons for low green finance flows has been a lack of clarity in what constitutes sustainable activity. A taxonomy would change that.
India is not the first country to make a move to create climate finance taxonomy. Many countries have either started to work on their taxonomy or have already finalised one. South Africa, Colombia, South Korea, Thailand, Singapore, Canada, and Mexico are some of the countries which have developed taxonomies, along with the European Union.
India aims to achieve net-zero economy by 2070. It has also pledged to reduce the emissions intensity of its GDP by 45% by 2030, from the 2005 level. India has committed to achieve about 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030 as well. The climate finance taxonomy will help in streamlining the efforts to achieve these targets at a rapid pace.

CSR: SATO partners with Supreme Industries to drive access to affordable sanitation and hygiene solutions across India

SATO, the award-winning social business part of LIXIL and a global leader in innovative sanitation and hygiene solutions, is thrilled to announce a strategic partnership with Supreme Industries, the largest plastics processor in the nation, providing a diverse and comprehensive range of plastic products.
Under this partnership, Supreme Industries will leverage its extensive market penetration and gold standard production prowess to manufacture and distribute SATO’s award-winning hygiene and sanitation solutions, widening the availability of safe and affordable sanitation products across across India.
Mr. Suguru Sakata – Leader Asia, SATO, stated, “This partnership marks a significant step towards achieving our purpose of providing accessible and affordable sanitation solutions to people across India. Supreme Industries’ manufacturing expertise aligns seamlessly with our commitment to innovation and consumer-centric focus, ensuring that our award-winning products reach even more households.”
Mr. MP Taparia, Managing Director, The Supreme Industries Ltd., expressed enthusiasm, saying, “We are proud to join hands with SATO, part of LIXIL, to address the pressing need for safe and affordable sanitation. For more than four decades, we have been working relentlessly and have pioneered a wide range of efficient, compact, and user-friendly products to promote hygiene and improve the quality of sanitation across the country. Now, this collaboration will allow us to expand our product range, business and bring a positive change by scaling up production and distribution efforts”.
The full SATO range of products will be available at the Supreme distributors from the end of August.
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