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No Vote on Account; Modi govt presents an election Budget ‘interim’ only in name

Published

7 years ago

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[vc_row][vc_column][vc_column_text]Interim Finance Minister Piyush Goyal broke the proprietary norm and convention today (Friday, Feb 1) to make provisions for the whole year in what he had called an ‘Interim Budget’, and introducing a host of new schemes to woo various sections of the population.

(See provisions below)

The norm is that when the country is headed for a general election to elect the next government, the incumbent government presents an interim budget, which is essentially a vote-on-account to meet the government’s expenses and keep the ongoing schemes running till the next government assumes charge after the elections. Goyal has made provisions for the whole year.

Moreover, the ‘interim budget’ presented today probably has more new programmes than the regular, full-fledged budgets Modi government came up with in the previous years. The new provisions quite openly aim to woo various sections of the population: an ‘election budget’, if ever there was one. It is likely to leave for the next government the dual problem of a huge bill and depleted funds.

Former finance minister and Congress leader P Chidambaram‏ commented: “It was not a Vote on Account. It was an Account for Votes.”

In his reaction to the budget, Leader of Congress in Lok Sabha Mallikarjun Kharge said: “You have a mandate up to May and instead they have presented a full year’s budget and are trying to befool the people of the country, keeping elections in mind.”

“These are only election sops and ‘jumlas’, as they had been speaking about ‘jumlas’ in the past,” he said about the proposals.

Be that as it may, the Budget is sure to appeal to many – and win back some of the goodwill Modi government has lost, even though it does not address the problem of joblessness and job losses.

He announced a slew of measures, mainly to benefit the middle class, address the agrarian distress, and bolster industry.

For the common citizen, the government announced full tax rebate for individuals having annual income up to Rs 5 lakh, while people with gross income up to Rs 6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities.

Other key measures announced by the FM were an annual benefit transfer of Rs 6,000 to each marginal farmer — with a landholding of less than 2 hectares — at a total cost of Rs 75,000 crore to the exchequer. Under the scheme, fully funded by the central government and effective from December 2018, would involve three payment transfers of Rs 2,000 each to a farmer every year.

In another important announcement, the government announced a mega pension scheme, PM Shram Yogi Mandhan, for people in the unorganised sector. Under this scheme, the government to provide a pension of Rs 3,000 a month to people in the unorganised sector after they turn 60 years old.

FM Goyal also announced that the gratuity limit for the salaried class would be increased from Rs 10 lakh to Rs 30 lakh, and he hoped that India would become a $5-trillion economy in five years’ time.

 

FOR INDIVIDUALS

Individuals with income up to Rs 5 lakh will not have to pay any income tax

Individuals with income up to Rs 6.5 lakh will not need to pay any tax if they make investments in PFs, prescribed equities

Standard Deduction raised to Rs 50,000/yr from Rs 40,000/yr

No TDS on house rent up to Rs 2.4 lakh per year

No TDS on bank, post office interest up to Rs 40,000, up from Rs 10,000

Gratuity limit increased from Rs 10 lakh to Rs 20 lakh

Income Tax returns to be processed within 24 hours and returns will be paid immediately

All assessment and verification of IT returns will be done electronically, without any intervention by officials

GoM to suggest ways to reduce GST for house buyers

Direct tax collections increased from Rs 6.38 trillion in 2013-14 to almost Rs 12 trillion

Tax base up from Rs 3.79 crore to 6.85 crore

 

 

FOR FARMERS

In a bid to woo the farming community ahead of the Lok Sabha elections, interim Finance Minister Piyush Goyal in his Budget speech on Friday announced a Rs 6,000 per annum direct cash transfer for farmers owning land less than two hectares.

Called Pradhan Mantri Kisan Samman Nidhi, the much-anticipated move will benefit about 12 crore small and marginal farmers and will come into effect retrospectively from December 1, 2018, and the first instalment will be disbursed before the elections.

“The amount will be transferred directly to bank accounts of farmers in three equal installments. The programme will be funded 100 per cent by the Central government. Twelve crore farmer families will benefit. The first installment will be issued soon after preparing a list,” Goyal said.

The scheme will cost the government Rs 75,000 crore per year. Goyal said Rs 20,000 crore has been earmarked for this financial year. Besides the PMKSN scheme, Rs 60,000 crore has also been set aside for rural employment scheme MGNREGA.

There are 12.56 crore marginal and small farmers having less than 2 hectares (5 acre) holdings. If Rs 6,000 is paid to each farmer, the total outlay will be Rs 75,360 crore.

There were speculations that the government may announce a flat cash transfer to all identified beneficiaries similar to Odisha’s Kalia scheme or one based on a per-acre basis like Telangana’s Rythu Bandhu scheme.

Pradhan Mantri Kisan Samman Nidhi is a modification of the Rythu Bandhu scheme of the Telangana government, which provides assistance on a per-acre basis (Rs 8,000 per acre per year) without any holding size limit.

The government also announced a financial package for farmers, the Pradhan Mantri Kisan Samman Nidhi scheme, under which each farmer will receive an amount Rs 6000 directly in their bank accounts every year. A sum of Rs 75,000 crore has been allocated for the scheme

 

Proposals for farmers in a nutshell

Rs 6,000 to be transferred into accounts of small farmers who have less than 2 hectares land

Farmers to be provided Rs 6,000 per year in three installments, to be fully funded by the central government

This will benefit 12 crore farmers, at an estimated cost of Rs 75,000 crore

MSP hike by 1.5 times the production cost for all 22 crops

2% interest subvention to farmers who pursue animal husbandry, fisheries jobs through Kisaan credit cards

Farmers to get 5% subvention on timely loan repayment[/vc_column_text][/vc_column][/vc_row]

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Mamata Banerjee warns BJP, EC over Bengal polls, says they will be accountable

Mamata Banerjee holds BJP and Election Commission responsible for any incidents during Bengal polls, raising concerns over officer transfers.

Published

9 hours ago

on

March 17, 2026

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West Bengal Chief Minister Mamata Banerjee has held the Bharatiya Janata Party (BJP) and the Election Commission of India responsible for any untoward incidents in the state during the upcoming assembly elections, following the transfer of key officials.

Addressing concerns over administrative reshuffles, Banerjee said that changes involving senior bureaucrats, including the chief secretary and home secretary, could affect governance and law and order in the state during a crucial period.

The Trinamool Congress chief also announced candidates for 291 constituencies for the elections scheduled to be held in two phases on April 23 and 29.

Criticising the Election Commission, Banerjee alleged that the transfers were being carried out in a manner that benefits the BJP. She questioned the timing of the decisions and said such actions weaken the state administration at a sensitive time.

She further raised concerns about disaster management and essential services, stating that experienced officials familiar with the state’s situation have been replaced. According to her, this could impact administrative efficiency if any emergency arises before the new government is formed.

Protecting Bengal’s identity

Banerjee emphasised that the election is not merely about forming a government but about safeguarding Bengal’s identity and existence. She accused the BJP of misusing central agencies and attempting to influence the electoral process.

She urged that elections should be conducted peacefully, without external interference, and in line with democratic principles. The chief minister also expressed confidence that her party would return to power with a stronger mandate.

Appealing to voters, she called for support for the Trinamool Congress, asserting that the people of Bengal will ultimately decide the outcome and protect their democratic rights.

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Mamata Banerjee writes to poll chief over officers’ reshuffle, calls move arbitrary

Mamata Banerjee has written to the Chief Election Commissioner, calling the reshuffle of senior Bengal officials arbitrary and raising concerns over constitutional norms.

Published

20 hours ago

on

March 17, 2026

By

mamta banerjee

West Bengal Chief Minister Mamata Banerjee has written to Chief Election Commissioner Gyanesh Kumar, raising strong objections to the recent reshuffle of senior bureaucrats in the state ahead of the assembly elections.

In her letter, Banerjee described the move by the Election Commission of India as “arbitrary” and expressed “deep concern” over what she termed a unilateral decision. She urged the Commission to refrain from adopting such measures in the future.

The Chief Minister pointed out that while the Election Commission does have the authority to make administrative changes during elections, past practice has involved consultation with the state government. According to her, the Commission would typically seek a panel of officers from the state and make its selections from that list, maintaining what she called constitutional propriety and administrative convention.

Banerjee warned that bypassing this process could undermine the institutional credibility and long-standing legacy of the poll body, and may also affect the foundational principles of the constitutional framework.

The controversy stems from the Commission’s decision, taken soon after announcing election dates, to remove several top officials from election-related duties. These include the state’s Chief Secretary, Director General of Police, Kolkata Police Commissioner, and Home Secretary.

The Commission has maintained that the reshuffle was aimed at ensuring a peaceful and violence-free electoral process.

Reacting sharply, Banerjee alleged bias in the decision-making, claiming that the removal of the Chief Secretary indicated an anti-women stance. She also accused the Commission of selectively targeting officers, suggesting that the move favoured individuals aligned with the Bharatiya Janata Party.

Meanwhile, the Trinamool Congress escalated its protest, staging a day-long walkout from the Rajya Sabha earlier in the day.

Responding to the criticism, Parliamentary Affairs Minister Kiren Rijiju said the Election Commission is a constitutional authority, adding that questioning its decisions in Parliament is inappropriate and unproductive.

The Commission has appointed a new Chief Secretary in place of the outgoing official as part of the reshuffle.

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BJP releases first list of 47 candidates for Kerala assembly polls

The BJP has released its first list of 47 candidates for the Kerala Assembly elections scheduled for April 9, including three former Union ministers.

Published

1 day ago

on

March 16, 2026

By

BJP releases list of candidates

The Bharatiya Janata Party (BJP) on Monday released its first list of 47 candidates for the upcoming Kerala Assembly elections scheduled for April 9.

Voting will take place for all 140 seats in the state assembly, with counting of votes scheduled for May 4. A party or coalition needs at least 70 seats to secure a majority in the House.

Among the candidates announced in the first list are three former Union ministers — Rajeev Chandrasekhar, V. Muraleedharan and George Kurian.

Key candidates announced

Kerala BJP chief and former Union minister Rajeev Chandrasekhar has been fielded from the Nemom assembly constituency. In the 2024 Lok Sabha election, Chandrasekhar lost the Thiruvananthapuram seat to three-time MP Shashi Tharoor, but he led in the Nemom assembly segment during that contest. The party believes this performance strengthens its prospects in the constituency.

Nemom has held political significance for the BJP since 2016, when senior leader O. Rajagopal won the seat and became the party’s first-ever MLA in the 140-member Kerala Legislative Assembly. The victory marked the BJP’s initial breakthrough in the state assembly.

However, the seat returned to the Left camp in the 2021 Assembly election when V. Sivankutty defeated BJP leader Kummanam Rajasekharan.

Former Union minister V. Muraleedharan will contest from the Kazhakoottam constituency, while George Kurian has been nominated from Kanjirappally.

Other candidates in the list

According to the list released by the party, several other candidates have also been announced for key constituencies. P. C. George will contest from Poonjar, R. Sreelekha from Vattiyoorkavu and Padmaja Venugopal from Thrissur.

The BJP has also nominated Sobha Surendran from Palakkad, Navya Haridas from Kozhikode North and Kavitha K. S. from Sulthanbathery, a reserved constituency.

Raji Prasad will contest from the Kunnathur seat reserved for Scheduled Castes, while R. Rashmi has been fielded from Kottarakkara.

Political backdrop in Kerala

Kerala’s electoral politics has traditionally alternated between the Left Democratic Front (LDF) and the Congress-led United Democratic Front (UDF). However, the BJP has been attempting to expand its presence in the state.

The alternating trend was interrupted in the 2021 Assembly election when the electorate returned the Pinarayi Vijayan-led government to power for a second consecutive term.

The BJP believes recent electoral performances and local body successes have strengthened its position as it prepares to contest the upcoming assembly polls.

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