English हिन्दी
Connect with us

India News

Budget 2023: Higher spending on education, healthcare; lower fiscal deficit likely

Finance Minister Nirmala Sitharaman will present the Union budget in the parliament today, its widely projected that the Narendra Modi-led government is likely to seek to lower its fiscal deficit while encouraging investment by offering incentives.

Published

on

Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman will present the Union budget in the parliament today, its widely projected that the Narendra Modi-led government is likely to seek to lower its fiscal deficit while encouraging investment by offering incentives.

The central government is also expected to ramp up state spending to counter the global slowdown.

Officials believe that in spite of upcoming elections in many states and next year’s Lok Sabha polls in the background, major relief for households may not be on the cards due to fiscal cards as the budget is likely to focus on long-term growth.

Sitharaman is expected to continue the Modi government’s policy of increasing capital spending on public infrastructure, introducing lower tax rates and labour reforms and more subsidies to the poor in a bid to win their support.

The finance minister is likely to announce around 10% to 12% increase in budget allocations for health, education and rural projects as many insiders believe that the annual budget will continue the economic reforms started by Prime Minister Narendra Modi since coming into power in 2014.

BJP economic affairs spokesman, Gopal Krishna Agarwal, pointed out that the easing of retail inflation, higher state spending and growing bank credit would help the economic recovery ahead of Lok Sabha elections.

However, critics have claimed that Modi government’s economic policies have majorly benefited large companies while burdening the middle class with more taxes who are facing a dip in growth in real income and jobs.

Read Also: Union Budget 2023: Where and how to watch Finance Minister Nirmala Sitharaman’s speech LIVE?

The Economic Survey released by Sitharaman on Tuesday warned of effects of global slowdown and forecasted that the economy would grow 6% to 6.8% year-on-year next fiscal year, down from 7% projected for the current year.

Chief Economic Adviser (CEA) V Anantha Nageswaran projected that India’s economy was poised to do better and expected to grow at 6.5-7 percent till the end of the decade. Nageswaran said that the inflation is likely to be “well behaved” in the coming fiscal year barring any unforeseen factors.

The International Monetary Fund (IMF) has projected India’s growth to dip slightly from 6.1 percent to 6.8 percent during the current fiscal year ending on March 31. IMF also expects some minor slowdown in the Indian economy in the next fiscal year.

According to the January update of the World Economic Outlook released by global fiscal body on Tuesday, global growth is projected to fall from a projected 3.4 percent in 2022 to 2.9 percent in 2023, then rise to 3.1 percent in 2024.

Union Budget 2023: 5 big expectations from Nirmala Sitharaman

Union Budget 2023: Budget to be presented today at 11 am, know the full schedule here

2024 Lok Sabha Elections

Election Commission advises Bengal Governor to not visit Cooch Behar on voting day

The Election Commission advised the Bengal Governor to call off his proposed visit to Cooch Behar on April 19.

Published

on

West Bengal governor CV Ananda Bose has been warned by the Election Commission of India (ECI) not to visit Cooch Behar on April 18 and 19, since the first phase of the Lok Sabha polls will begin with a silence period on Wednesday evening.

According to those familiar with the situation in the EC, the poll body informed the governor’s office that no local program could be planned for the governor on April 19 due to the Model Code of Conduct and the election day.

The poll body added that if they had to provide local security cover for this unexpected proposed visit without a imminently known requirement, the tour would be a diversion because the district administration and police force will be completely occupied with election management on April 18 and 19.

As a result, under Section 126 of the Representation of People Act, campaigning is prohibited in Cooch Behar starting at 6 p.m. on Wednesday.

In order to ensure a free and fair election process, the poll board has asked all district election officers and district police chiefs to make sure that all prominent individuals, campaigners, and political workers who are not local voters leave the polling area once the silence period begins.

The seven phases of the 2024 Lok Sabha elections will take place between April to June. Polls will be conducted in seven phases: the first on April 19 and the seventh on June 1. On June 4, the results will be announced.

Continue Reading

India News

Lamborghini Gallardo worth nearly Rs 1 crore set on fire over business dispute

A video circulating on social media shows the luxury car Lamborghini Gallardo being burned and reduced to ashes. The police officials said a complaint has been registered by Neeraj, a car reseller who had bought the luxury car from its original owner.

Published

on

A person who deals in the sale and purchase of old luxury cars and a few others has allegedly burnt an old but expensive model of Lamborghini Gallardo on a road in Hyderabad over a dispute with its owner on Monday. The police said the owner of the Lamborghini Gallardo, Neeraj wanted to sell off the vehicle, estimated to be worth up to Rs 1 crore, and had informed some of his friends to look for a buyer.

The police added that the main accused Ahmed had called a friend of Neeraj and asked him to bring the car. The said friend of Neeraj was known to the Ahmed. When the luxury car was brought to Mamidipalli Road which is situated on the city outskirts Ahmed along with a few others, burnt the luxury car using petrol and claimed that Neeraj owed him money.

A video circulating on social media shows the luxury car Lamborghini Gallardo being burned and reduced to ashes. The police officials said a complaint has been registered by Neeraj, a car reseller who had bought the luxury car from its original owner. By the time fire department vehicles arrived at the scene it was too late as the luxury car was engulfed in flames and badly damaged. A video of the burning Lamborghini Gallardo has been circulating on social media.

The incident is a proof to the lengths to which disputes can rise. An expert spoke about the car that got burnt and said it was the Gallardo Spyder. He pointed out that it is a substantially older gen model which can only be found in the resale market. The expert further added the car has a powerful 5-litre NA V10 engine that made 513 horse power and 510 Nm of peak torque.

Continue Reading

2024 Lok Sabha Elections

2024 Lok Sabha elections: TMC releases manifesto, Mamata Banerjee vows to scrap CAA, stop NRC

The Trinamool Congress has today released its manifesto for the Lok Sabha elections

Published

on

West Bengal CM Mamta Banarjee-led Trinamool Congress (TMC) today released its manifesto for the upcoming Lok Sabha elections. In its manifesto, the TMC pledged to repeal the Citizenship Amendment Act (CAA), stop the development of a National Register of citizens and the Uniform Civil Code (UCC), and stop its implementation nationwide.

The manifesto was unveiled by Trinamool MP Derek O’Brien, West Bengal Minister Chandrima Bhattacharya, and Amit Mitra, who is the Special Advisor to the Chief Minister. However, West Bengal CM Mamata Banerjee was not present at the event.

As Derek O’Brien unveiled the manifesto, he said, this is what they will do when the TMC, as part of INDIA bloc, forms government.

The Citizenship Amendment Act has long been opposed by the Trinamool Congress. Five years after it was approved by Parliament, the central government finally put the CAA into effect last month.

The party led by Mamata Banerjee has also expressed resistance to the National Register of Citizens proposal, claiming that West Bengal will never adopt it. 

The manifesto titled Didi’s 10 sapaths, alludes to 10 oaths made by Mamata Banerjee, popularly known as Didi.

The Mamata Banerjee-led party additionally pledges to raise the daily allowance under the Mahatma Gandhi National Rural Employment Guarantee Act to Rs 400 per day in addition to the UCC and CAA. Everyone has also been offered pucca houses by the party.

A monthly pension of Rs 1,000 for people over 60, free home delivery of 5 kg of ration for every ration card user, 10 free LPG cylinders annually for families below the poverty line, and universal healthcare coverage worth Rs 10 lakh are among the other significant commitments made.

Additionally, the Trinamool Congress has pledged to establish a price stabilization fund in order to control the cost of gasoline and LPG.

The party has assured the youth that every student will receive a monthly stipend up until the age of 25. A student credit card of Rs. 10 lakh will be awarded to those who choose to continue their education.

Continue Reading

Trending

-->

© Copyright 2022 APNLIVE.com