English हिन्दी
Connect with us

India News

Budget 2024-25: Finance Minister Nirmala Sitharaman bets on social security schemes, no change in tax slabs

Published

on

With the Narendra Modi government’s second term coming to an end, Finance Minister Nirmala Sitharaman presented her sixth budget, albeit an interim one at that. The government has focused on people’s welfare, extension of social security schemes for the poor, women, youth and farmers. She said she hoped the people of the country will vote the party back to power in the Lok Sabha polls.

The Finance Minister said the BJP-led government is working to make India ‘Viksit Bharat’. She said the government was keen on governance, development and performance, GDP. The government has raised 25 crore people from below the poverty line over the 10 years. As expected, there was no change in tax slabs, though the FM spoke of increasing tax exempt income from Rs 2.5 lakh in 2013-14 to Rs 7 lakh last year, though under the new tax regime.

Keeping rural India firmly in mind, she said 2 crore (20 million) houses will be built under the PM Awaas Yojana Grameen over the next five years. Analysts had expected a similar plan for urban areas. Similarly, the Ayushman Bharat scheme has been extended to all ASHA and Anganwadi workers which would enable them to avail free medical treatment at primary health centres and government facilities.

A long-term financing corpus will be set up with 50-year interest free loan for longer tenures for development of tech industries. The government will also launch schemes to strengthen deep tech for defence purposes.

The bigger announcement was on the plan to limit the fiscal deficit below 5% in 2026 despite the push for greater infrastructure thrust. The deficit for 2024-25 is expected to stay at 5.8% of the GDP.

The government has also cancelled direct tax demands for some 1 crore taxpayers. The greater push for increasing solarisation among households via rooftop solarisation targeting 300 free units per month is a hat-tip to the free power schemes introduced by the Aam Aadmi Party.

Finance Minister completes interim budget presentation

Union Finance Minister Nirmala Sitharaman concluded her interim budget presentation.

Tax benefits extended to March 2025

The tax benefits for startups, investments made by sovereign wealth, pension funds are to be extended to March 2025

3 railway economic corridors programmes to be implemented

The railway economic corridor programmes for energy, minerals and cement as well as port connectivity and heavy will be put into effect. The Finance Minister stated that PM Gati Shakti has designated the projects that will enable multi-modal connectivity and will lower costs and increase the effectiveness of logistics

Nirmala Sitharaman push for enhancement in tech sector

During the budged presentation, the Finance Minister said that a corpus of Rs1 lakh crore will be established with 50-year interest free loan to provide long term financing with loang tenure with no or less interest rates. She added that a new technology will be launched to strengthen deeep tech for defence purpose.

FDI inflow during FY 14-25 was USD 596 bn

Finance Minister Nirmala Sitharaman asserted that the Foreign Direct Investment during the financial year 14-20 was USD 596 billion.

Union Finance Minister Sitharaman on PM Modi’s roof-top solarisation scheme

According to Nirmala Sitharaman, rooftop solarisation will provide 300 units of free electricity per month to 1 crore families.

Ayushman Bharat cover to be extended

Union Finance Minister Nirmala Sitharaman has said all Asha and Anganwadi workers will be included in the Ayushmann Bharat initiative.

FM announces 2 crore more houses under PMYA-G

Two crore more houses would be constructed under the Pradhan Mantri Awas Yojana – Gramin, according to the Union Finance Minister.

Nirmala Sitharaman explains government focus for the interim budget

Finance Minister Nirmala Sitharaman stated that the central government is focusing on four major groups namely poor, women, youth and the farmers.

Finance Minister begins interim budget presentation

Union Finance Minister Nirmala Sitharam commences to present the interim budget 2024-25, setting the stage for Lok Sabha Election 2024. In this budget, the Finance Minister is likely to focus on social welfare schemes, farmers, women and job creation.

Growth rate to stay above 6%

Ahead of the budget, the Economic Review had pegged the growth rate at 7%, the IMF has forecast GDP growth rate for India at 6.5%

India News

Amit Shah challenges Rahul Gandhi to debate SIR in Parliament

Amit Shah responded to Rahul Gandhi’s public debate challenge by inviting him to discuss the SIR exercise in Parliament. He also criticised the Congress over its demand for Chief Election Commissioner Gyanesh Kumar’s resignation.

Published

on

Union Home Minister Amit Shah has challenged Congress leader Rahul Gandhi to take up his demand for a public debate with Prime Minister Narendra Modi in Parliament, saying the government is ready to convene a special session to discuss the Special Intensive Revision (SIR) exercise.

Addressing a rally in Haryana’s Karnal, Shah directly responded to Gandhi’s challenge to the Prime Minister, asking the Congress leader to write to PM Modi if he wanted a discussion.

“I want to challenge Rahul Gandhi directly. You challenge PM Modi for a discussion? If you want a discussion, simply write a letter to PM Modi. We are ready to convene a special session of Parliament to discuss the SIR exercise… Come and debate in Parliament,” Shah said.

The remarks came two days after Rahul Gandhi issued another public debate challenge to the Prime Minister.

On November 3, Gandhi wrote in a post on X that PM Modi could choose any stage or venue for a discussion. He proposed debating allegations concerning who was anti-national and who had connections with foreign forces, adding that the media and the country’s youth should also be present.

Amit Shah targets Congress over SIR controversy

During his address, Shah also criticised the Congress over its demand for the resignation of Chief Election Commissioner Gyanesh Kumar.

Referring to the 2014, 2019 and 2024 Lok Sabha elections, the Home Minister argued that the Congress had lost despite no Special Intensive Revision exercise being conducted during those elections.

“Where was the SIR in 2014? You were completely wiped out even then. Where was SIR in 2019? You lost. There was no SIR in 2024 either, yet you lost again,” he said.

Shah also referred to the elections in Haryana and Maharashtra, claiming that there was no SIR exercise in either state when the Congress suffered electoral defeats.

He accused the Opposition of disrupting parliamentary proceedings and organising protests on the streets instead of allowing Parliament to function.

Shah criticises Rahul Gandhi over protests

The Home Minister further alleged that Rahul Gandhi and the Congress were creating disorder through street protests and parliamentary boycotts.

Shah said BJP workers would give a “fitting reply” if Gandhi continued to mobilise crowds on the streets.

He also questioned Gandhi’s claim to have mobilised large numbers of people for a rally in Delhi, alleging that the venue had a capacity of 70,000 and was still half empty despite an appeal to bring 10 lakh people.

“The people of the country have consistently defeated Rahul Gandhi and the Congress party. The people of the country are not with you or the Opposition alliance,” Shah said.

Amit Shah raises questions over Rahul Gandhi’s foreign visits

Shah also sought details about Rahul Gandhi’s foreign visits, arguing that people had a right to know about them.

“You’re Leader of Opposition… People have the right to know,” the Home Minister said.

His remarks came amid the continuing political confrontation between the BJP and Congress over the SIR exercise, electoral processes and the Opposition’s criticism of the Election Commission.

Continue Reading

India News

Women’s cash schemes in Chhattisgarh ease inflation, not entrepreneurship

Published

on

By

By Neeraj Mishra

As Chhattisgarh celebrated its 26th Foundation Day with Home Minister Amit Shah as chief guest, there are worries about the cash programmes for women.

With the payment of the 33rd consecutive monthly installment of Mahtari Vandan Yojana to more than 67 lakh beneficiaries, Chhattisgarh has created a record of sorts. The 67 lakh women are supposed to have received a monthly cash dole of Rs 1000 per head in their accounts totaling to a mammoth Rs 21,350 crore. It translates into a very neat Rs 33000 per head for each married woman over the age of 21 so far.

And all these women are KYC- checked and receive the direct benefit transfer. If there are an average of  three married women in a joint family, then the amount totals to better than the average rise in paddy prices. That’s not all, there are six other women’s schemes which provide easy loans and rent free shops in good locations. These schemes pump in a further Rs 11,000 crore into each household every year. Further, the renamed MNREGA has another Rs 16,200 crore reserved for the state every year.

So far so good and it reads like a state government PR pamphlet. Now for the bad news. The cash dole has so far been absorbed by the family itself because of the inordinate rise in fuel prices. By all accounts only 23 per cent of the households who receive gas cylinders are able to continue buying it. Only 15 per cent of those who received loans for various trades including e-rickshaws have been able to sustain it. This is roughly about 41,000 women so far.

The state had also invested in physical infrastructure like sheds and shops for trades like mushroom farming, goat farming and small size hatcheries. Some shops were given rent free on prime locations in Raipur, Durg and Bilaspur etc. Most of these facilities have been abandoned as the self-help groups (SHGs) formed for the purpose haven’t been able to convert it into a profitable venture. In fact, each SHG, which usually has 11 women, is given a monthly encouragement amount of Rs 15,000 which is now being split amongst the group with nothing to show for it.  Most sheds have either broken down or have become illegally occupied. Better still, the shops have been handed over to businessmen to recover some of the cost.

“The main reason these schemes have not had the desired effect is lack of training and a general apathy on part of the entrepreneurs because of easy cash,” said an official. And that best sums it up.

Continue Reading

India News

Sharad Pawar admitted to Mumbai hospital hours after Pune discharge

NCP (SP) chief Sharad Pawar was admitted to Mumbai’s Breach Candy Hospital hours after being discharged from Pune’s Ruby Hall Clinic, where he had been undergoing medical observation following complaints of cough and chest pain.

Published

on

Sharad Pawar

Nationalist Congress Party (Sharadchandra Pawar) chief Sharad Pawar was admitted to Mumbai’s Breach Candy Hospital on Wednesday, just hours after being discharged from Pune’s Ruby Hall Clinic. His daughter and Baramati MP Supriya Sule confirmed the development in a social media post, saying that the veteran politician was being admitted for further medical tests.

The 85-year-old leader had been discharged from Ruby Hall Clinic earlier on Wednesday after being admitted on November 2 following complaints of cough and pleuritic chest pain.

Confirming his admission to the Mumbai hospital, Supriya Sule said, “We are admitting Baba to Breach Candy Hospital for further tests. Thank you all for your concern and good wishes.”

Pawar’s latest hospitalisation came after he had undergone medical tests and observation during his stay at the Pune facility. Sule had earlier said that his health parameters were stable.

Why was Sharad Pawar admitted to hospital?

Sharad Pawar was initially admitted to Pune’s Ruby Hall Clinic on November 2 after experiencing complaints of cough and pleuritic pain, a form of chest pain that generally becomes worse while breathing, coughing or sneezing.

Dr Purvez K Grant, chief cardiologist, chairman and managing trustee of Ruby Hall Clinic, had said that Pawar was admitted for a general health check-up and medical observation following complaints of pleuritic pain.

During his hospital stay, Supriya Sule had informed that Pawar was undergoing medical tests and that his health parameters remained stable.

He was subsequently discharged from the Pune hospital on Wednesday. However, hours later, his family decided to admit him to Mumbai’s Breach Candy Hospital for further medical examinations.

PM Modi calls Sharad Pawar, advises complete rest

Prime Minister Narendra Modi also spoke to Sharad Pawar over the phone on Wednesday morning to enquire about his health.

According to Pawar’s aide Vitthal Maniyar, the Prime Minister spoke to the NCP (SP) chief and advised him to take complete rest.

Maniyar said Modi told Pawar that his daughter Supriya Sule and others were ready to take care of the country, and that the veteran politician should focus on his health.

Pawar thanked the Prime Minister for enquiring about his well-being, the aide said.

Maniyar also said that Pawar told Modi that he was resting and had no worries about the country, as others were there to take care of things.

The latest hospital admission was confirmed by Supriya Sule, who said her father was being taken to Breach Candy Hospital for further tests.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com