English हिन्दी
Connect with us

Latest Politics News

‘Interim’ only in name, an Election Budget in offing; may leave a massive burden for next govt

Published

on

‘Interim’ only in name, an Election Budget in offing; may leave a massive burden for next govt

[vc_row][vc_column][vc_column_text]What many have been speculating has been given added credence by Finance Minister Arun Jaitley: that the interim budget – an outgoing government presents only a vote on account rather than a full-fledged budget – would be much more than that.

It would be an Election Budget and it may make the previous budgets under Narendra Modi government look like interim budgets. The measures planned by the government are likely to leave the successor government with a bill of over Rs 1 lakh crore, according to a report in The Economic Times (ET).

Speaking at CNBC-TV18’s Indian Business Leader Awards on Thursday, Jan 17, Jaitley, via video conference, said the government could break with convention and make the February 1 exercise more significant than a vote on account.

There is speculation that the government is studying various options, including a cash handout for farmers, to ease their distress and to shore up popular support before the national election that’s due by May. The government has already exceeded its budget deficit targets in October.

Jaitley, while dismissing fears that he is under pressure to present a populist budget after the recent election debacle in three states and ahead of general elections in April-May, ended up confirming the government’s worry and nervousness.

Jaitley said: “The NDA (National Democratic Alliance) government had been in this game for far too long to have nervousness about the budget. We are confident and proud of our performance over the last five years. The NDA government has succeeded in restoring the credibility of the economy and its decision making process over last few years”

In a regime that tends to equate ‘nation’ and ‘nationalism’ with itself, Jaitley said, “Convention has always been that election year Budget is an interim Budget. The larger interest of the nation dictates what will be a part of the interim Budget.”

“If we look at the big picture there have been successes that we have seen in the last few years. There have also been challenges. Therefore, without getting into the specifics, because that would really be disclosing the mind with which we are working, some of those challenges cannot afford to wait,” Jaitley said.

The government has recently announced a series of measures to try to win over farmers, small business owners and the less well-off, after the BJP suffered setbacks in state elections and with a general election due in months.

The measures are likely to be a drain on finances when Modi government is trying to stick to a decade-low fiscal deficit target of 3.3 per cent of the gross domestic product (GDP).

It has, however, promised even more perks ahead of the general election due by May.

“They will be for development, they will be for transformation,” Union Law Minister Ravi Shankar Prasad had said in Parliament, saying people should more “sixes during the slog overs”. Translated, it means more inducements for the electorate when elections are near.

Media reports suggest that the Centre is considering various options to address the agricultural distress in the country, one of them is cash handout for farmers. The deliberation over this began after the BJP was voted out in three key state elections in December.

If the government is planning to extend any relief to the farmers, it will impact India’s fiscal deficit which has already reached 114.8 percent of the budgeted target in November. Experts say that the government may not be able to stick to its deficit target this year.

In recent weeks, there has also been buzz of tax cuts for the middle class and other measures in the government’s economic statement ahead of Lok Sabha polls.

The FM said that the government will try to stick to its path of fiscal prudence, but he also added that in “unusual situations”, a deviation from the fiscal consolidation path might be required, which was understood by the markets and analysts.

Talking about the urgent need to uplift the farm sector, Jaitley said, “Whether it is a situation like a natural calamity or a drought or stress in a particular sector — these are all areas which cannot be considered any kind of populist expenditure. Markets will never understand if you act for the sake of populism,” he said. “But if it is in the larger interest because of a compelling situation that develops, I think then it is a rational, logical thing, which markets will also understand,” he added.

Asked on a reduction in interest rates amid slowing inflation, Jaitley suggested there was need for RBI to pare policy rates without making an explicit comment. “We can’t have real interest rates (after budgeting for inflation) higher than anywhere in the world,” he said, adding that the central bank has begun consultations with stakeholders.

What Jaitley said needs to be seen in context of statements of Ravi Shankar Prasad and some others, and the Modi government may make a short-term gain politically but may be disastrous for the economy.

A report in the ET said the vote-catching measures planned by Modi as he braces for a difficult general election may cost more than Rs 1 lakh crore which would have to be borne by the government that will take charge after the election due by May.

The spending is also likely to delay plans to reduce the government’s budget deficit, a key indicator of the nation’s economic health.

Jaitley talked of the need for fiscal prudence but kept an escape route open for “unusual situations”. The BJP’s economic affairs spokesman, Gopal Krishna Agarwal, told Reuters this week that the party does not consider the finance ministry’s plan to keep the fiscal deficit to 3.3 percent of gross domestic product in the current April-March fiscal year as “sacrosanct”.

“Addressing farmer distress is the most important thing,” Agarwal told Reuters. “You need an expansionary policy. You chase growth in the economy, you do not chase these parameters like fiscal deficit.”[/vc_column_text][/vc_column][/vc_row]

Latest Politics News

Yogi Adityanath hits back after Akhilesh Yadav says organising cabinet meeting at Kumbh is political

Adityanath juxtaposed the global acclaim for the Maha Kumbh with Yadav’s condemnation, portraying it as a symptom of the Samajwadi Party’s alleged long-standing opposition to significant religious symbols such as the Ram Mandir and Kashi Vishwanath Temple.

Published

on

The political atmosphere in Uttar Pradesh sizzled as Chief Minister Yogi Adityanath launched a blistering attack on Samajwadi Party leader Akhilesh Yadav, accusing him of disrespecting the Maha Kumbh and the religious sentiments of the Indian people. This sharp rebuke, delivered during a public rally in Milkipur ahead of crucial by-elections, followed Yadav’s criticism of the state government holding a cabinet meeting at the Kumbh Mela site.

Adityanath juxtaposed the global acclaim for the Maha Kumbh with Yadav’s condemnation, portraying it as a symptom of the Samajwadi Party’s alleged long-standing opposition to significant religious symbols such as the Ram Mandir and Kashi Vishwanath Temple.

He further escalated his attack, painting the Samajwadi Party as being mired in internal property disputes and insinuating connections to criminal elements, thereby attempting to discredit Yadav’s criticisms as coming from a morally compromised position.

Yadav’s initial criticism focused on the perceived impropriety of holding a cabinet meeting within the sacred space of the Kumbh Mela. He argued that the government was inappropriately using a religious event for political purposes, a charge that Adityanath vehemently rejected.

The Uttar Pradesh cabinet meeting itself was significant. All 54 ministers attended, approving numerous development schemes designed to boost Prayagraj and the surrounding region.

A key announcement involved extending the Ganga Expressway, a crucial infrastructure project designed to connect Prayagraj, Mirzapur, Bhadohi, Kashi, Chandauli, and ultimately, the Purvanchal Expressway in Ghazipur. This ambitious project, Adityanath claimed, would significantly contribute to sustainable development in the region.

Logistical adjustments were made to minimize disruption to the Kumbh Mela pilgrims. The cabinet meeting’s venue was shifted from the Mela Authority Auditorium to the Triveni Sankul in Arail to avoid inconveniencing devotees and managing the security arrangements for the VIP attendees.

The day concluded with Adityanath and his entire cabinet participating in the Kumbh Mela’s sacred rituals, taking a ceremonial dip in the Triveni Sangam. This highly publicized event, mirroring a similar participation in 2019, served as a powerful visual counterpoint to Yadav’s earlier criticism. The event simultaneously showcased the government’s commitment to religious traditions while promoting its developmental agenda.

The clash between Adityanath and Yadav underscores the deep political divisions and the strategic use of religious symbolism in Uttar Pradesh’s political landscape. The Maha Kumbh, a significant religious event, became a battleground for political point-scoring, highlighting the complex interplay between religion and politics in the state.

Continue Reading

India News

Delhi Assembly elections: BJP promises free education and student aid, AAP raises concerns

Published

on

Arvind Kejriwal addressing media after writing to RSS chief Mohan Bhagwat on BJP’s alleged electoral misconduct

As Delhi gears up for the upcoming assembly elections on February 5, the Bharatiya Janata Party (BJP) released the second installment of its election manifesto, promising comprehensive solutions to citizen issues and tackling misgovernance and corruption allegations against the incumbent Aam Aadmi Party (AAP).

The manifesto, dubbed ‘sankalp patra,’ includes significant pledges such as free education from pre-school to postgraduate levels for needy students at government institutions, and a financial package comprising Rs 15,000 and travel reimbursements for young individuals taking entrance exams. Scheduled Caste students enrolled in technical and professional courses are also promised a monthly stipend of Rs 1,000.

Building on their first manifesto which targeted women voters, the BJP’s latest promises focus on the youth, with over 1.5 lakh set to benefit from a new skills training program. This release follows criticisms by AAP of the BJP’s approach, especially after the tragic incident last July where three civil service aspirants lost their lives due to flooding.

Anurag Thakur, former Union Minister, emphasized the ‘Modi ki guarantee’ assurance, stating these initiatives would be implemented swiftly if the BJP is elected. The manifesto also includes welfare measures for domestic workers and insurance schemes for auto-rickshaw and taxi drivers, who have traditionally been a strong support base for AAP.

In response, AAP leader Arvind Kejriwal critiqued the BJP’s plans, particularly highlighting a clause that, according to him, would limit free education to only “eligible” children, deviating from AAP’s policy of universal free education. Kejriwal also recalled BJP’s earlier statement on discontinuing free healthcare, framing these promises as a threat to the financial stability of Delhi’s households.

The AAP’s counter-campaign warns voters that electing BJP could lead to increased living costs and bureaucratic hurdles in accessing education and healthcare, urging the electorate to consider these factors carefully. With the election results due on February 8, both parties continue to vie for public favor through promises aimed at key demographics.

Continue Reading

India News

Uttarakhand State cabinet approves uniform civil code manual, dates for rollout soon

Published

on

Pushkar Singh Dhami

In a significant step toward legal reform, the Uttarakhand Cabinet, led by Chief Minister Pushkar Singh Dhami, has approved the manual for the implementation of the Uniform Civil Code (UCC). The approval came during a Cabinet meeting held at the state secretariat on Monday. The dates for the rollout of the UCC will be announced soon.

This decision follows partial amendments made to the rules previously drafted for the UCC’s implementation. The amendments were thoroughly examined and finalised with input from the Law Department, with the Cabinet’s discussion focusing on the smooth execution of the law.

Post-meeting, Chief Minister Dhami expressed his satisfaction with the progress, underlining the government’s commitment to fulfilling a key electoral promise. “We had assured the people of Uttarakhand during the 2022 elections that the UCC would be implemented promptly once our government came to power. With the draft committee’s work complete, we are now closer to fulfilling that promise,” Dhami stated.

Uttarakhand’s implementation of the UCC will make it the first state in India to adopt a comprehensive civil law framework for all religious communities. The UCC aims to standardize laws in areas such as marriage, divorce, inheritance, adoption, and maintenance. While India already has a Uniform Criminal Code, a unified civil law has not existed until now.

The UCC will explicitly exclude tribal communities and prohibit practices such as ‘halala’, ‘iddat’, and ‘talaq’, which are part of Muslim Personal Law. The law itself consists of 392 sections and is divided into seven schedules. The comprehensive 750-page draft, which spans four volumes, was prepared by a five-member expert committee formed in June 2022 to examine the feasibility of introducing the UCC in Uttarakhand.

Led by Retired Justice Ranjana Prakash Desai, the committee submitted the final draft to the state government on February 2, 2024. The draft received approval from the state Cabinet on February 4, followed by ratification by the state Assembly during a special session. Governor Lt. Gen Gurmit Singh (Retd) gave the green light on February 28, marking the UCC’s passage into law, a move hailed as a historic milestone in Indian legal history.

While the implementation dates are yet to be finalized, the Cabinet’s approval signals that Uttarakhand is poised to set a significant legal precedent in India.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com