[NASHEMAN NEWS] Kolkata Hailing the interim budget proposals by Union Finance Minister Piyush Goyal as “courageous” , Bengal industrialists on Friday said it would provide a growth stimulus through consumption boost, but at the same time, they were disappointed with absence of any rebate in corporate tax.
“The proposal should augur well for the Indian economy by providing a growth impetus through a boost in consumption as well as an inclusive framework designed to benefit agricultural and rural communities, unorganised sector workers as well the middle class, ITC Chairman Sanjiv Puri said.
The budget presentation has been “significant” though it’s an interim Budget, as it presents a roadmap for future India which is poised to become a $5 trillion economy in 5 years and aspires to become a $10 trillion economy in the next 8 years thereafter, said Ambuja Neotia Group Chairman Harshavardhan Neotia.
He said they have by and large kept close to the fiscal deficit target and only allowed a slippage of 0.1 per cent primarily to provide the much required support to small and marginal farmers facing distress.
Bharat Chamber President Sitaram Sharma, stated that budget has trended the expected path of “a populist election year budget promising pro-poor, pro-farmer and pro-‘middle class without any direct proposal to expand industrial, manufacturing and economic activities” .
“The absence of any rebate in Corporate Tax does not provide any kind of hope for the Industry as no relevant measure has been proposed in favour of industrial development. Interest subvention of 2 per cent on loans up to Rs. 1 crore will provide modest relief to the MSMEs as the budget remained silent on stating any means for enhancing capital formation,” Sharma said.
From real estate’s point of view several noteworthy announcements have been made including no tax on notional rent if you own second house, no TDS on rental income up to Rs 2.4 lakh per year, capital gains tax exemption added to new house under Section 54 within limit of Rs 2 crore, Neotia said.
Terming that the budget as a courageous policy statement of the country’s long-term development journey, RP Sanjiv Goenka Group Chairman Sanjiv Goenka said, “The budget this year has shown the courage to attack all the ailments simultaneously.”
Despite a large number of welfare programmes for different sections of the society, fiscal deficit has not been allowed to go beyond 3.4 per cent of the GDP, he said, adding that sectors such as infrastructure, FMCG and agriculture are to be benefitted.
Indian Chamber of Commerce President Rudra Chatterjee said, Padhan Mantri Kisan Samman Nidhi promising Rs 6000 per year for farmers owning upto 2 hectares of land wouldA help in providing structured income support to poor landholders to procure seeds, machineries and other input.
The PM Kisan Samman Nidhi programme, the move to set up 1,00,000 digital villages and the increase in allocation to rural infrastructural development will indeed go a long way in enabling empowerment of rural communities, Puri said.
According to Sharma, at a point when the government commits to provide direct income benefit to small and marginal farmers on one hand and waive Income Tax on the other, “it remains quite a concern as to how the fiscal deficit target can be reached in the next fiscal”.
“The salaried class have been granted full income tax exemption upto INR 5 lakh pa with higher standard deduction. We consider it to be a bold step to provide more disposable income in the hands of middle class. Interest subvention and government procurement support is definitely a boost to MSMEs,” Chatterjee said.A
3 Iranians held in Delhi for fleecing Afghan nationals
[Nasheman news] New DelhiThe Delhi Police on Friday arrested three Iranian nationals for fleecing some Afghan nationals of their money by impersonating as police officers.
Noor Mhd, 28, Reza Kohan Khaki,30, and Farhad Abasisaorr, 31 — all Inranian nationals — were arrested from Greater Kailash area of south Delhi.
“Police team laid a trap around their rendezvous and deployed a police constable Kailash dressed as an Afghan in Greater Kailash market,” Deputy Commissioner of Police Vijay Kumar said.
“When the accused posing as police officers approached Kailash, showed him a fake police identity card and sought his wallet for checking, Kailash signalled the police team and they were arrested,” Kumar said.
“The accused, who came to India on valid visas, used to target Afghan nationals on their way to a diagnostic centre for medical treatment,” the DCP said.
“During interrogation, the accused said they approached Afghan nationals as police officers. They would then, without stepping out of the car, ask whether the victims were carrying any narcotic substance.”
On this pretext, they would seek the purse of the victim and after searching through it, they take the US dollars and escape.
“Police team recovered USD 2,829, Euro 200, Iranian Rial 2.3 lakh, Maldivian Rufiyaa 1,015 and Vietnamese Dong 1.25 lakh, besides currencies of some other countries from their possession,” the officer added.
Not Vote on Account but Account for Votes: Chidambaram
Nasheman News : Former Finance Minister and Congress veteran P. Chidambaram on Friday described the Interim Budget as an “Account for Votes” and not a Vote on Account and said the Modi government has further weakened fiscal stability.
“It was not a Vote on Account but an Account for Votes,” Chidambaram told the media here.
“It was a full-fledged Budget accompanied by an election campaign speech. By doing so, the government has trampled on time-honoured conventions,” he said.
He added that the government had no hope of returning to power and had, therefore, “acted desperately and recklessly, and in violation of the Constitution”.
He said the big takeaway was that the present government had “further weakened fiscal stability”.
“For the second year in succession, the government has missed the Fiscal Deficit target. The revised estimate shows a slippage from 3.3 per cent to 3.4 per cent. Worse, for 2019-20 too, the government has proposed an FD of 3.4 per cent. The government has thrown the FRBM Act out of the window.
“Similarly, the government will end the year with a Current Account Deficit (CAD) of 2.5 per cent as against the CAD in the previous year of 1.9 per cent,” said Chidambaram.
“Both numbers for the current year and the estimate of FD for 2019-20 point to incompetent fiscal management and a disdain for fiscal prudence,” he said.
Pointing to the “last-gasp” announcements including a scheme for welfare of cows, a new Department of Fisheries and pension scheme for unorganised workers, Chidambaram asked: “If these were important and necessary interventions, what was the government doing for five years?”
He also questioned the “measly” farmers’ income support.
“The government’s desperation is proved by its announcement of the Farmers’ Income Support Scheme to provide a measly sum Rs 6,000 per year to every small/medium farmer. The Fiscal Deficit numbers are telling.
“By recklessly breaching fiscal discipline, the government will fund the scheme this year entirely out of borrowed money of Rs 20,000 crore. Next year too, the scheme will be funded entirely out of borrowed money of Rs 75,000 crore.
“While I welcome the support to farmers, I ask what about the non-farmer poor? What about the urban poor,” he asked.
He said the new scheme was intended to help the farmer, but in reality it will also help the absentee landlord.
“I would like to ask how the government will reach the money to the tenant-farmer and farm labourer who actually tills the land,” he added.
Ready for debate on all issues in Parliament: Modi
[Nasheman news] New Delhi Prime Minister Narendra Modi on Thursday said the government is ready to debate on all issues and hoped the Budget Session of Parliament will be a fruitful one.
He reminded the members that they would have to go to their respective constituencies after this session so their behaviour in the House would play an important role in the public’s perception.
Speaking to reporters outside the House, Modi said: “Last time we saw how the Parliament worked.
“Nowadays there is an awareness among the public. They keep a close watch on the proceedings of the Parliament. People dislike the fact when politicians do not take interest in discussions and debates in the House.
“I hope that the members will keep this in mind and utilise the Budget Session to the fullest, participating in the debates and discussions for the benefit of the common man, the government and the nation,” he said.
“We are committed to take everyone along in the development of the country and want their support in the decisions to take the nation forward,” Modi said.
“We will try our best to have a detailed debate on the all issues. I will welcome the debate with an open heart and mind, so that the House functions properly,” he added.
Jammu-Srinagar highway closed
[Nasheman news] Jammu No traffic will be allowed on the Jammu-Srinagar highway on Thursday due to fresh snowfall and landslides, officials said.
Roads in Bannihal sector turned slippery following fresh snowfall, while there were some landslides in the Ramban stretch, a Traffic Department official said.
“Priority will be to ensure that no vehicle gets stranded and all vehicles parked or abandoned at various places on the highway are cleared,” he added.
The decision to suspend traffic on the strategic highway was taken after the Met on Wednesday issued advisory of rain and snowfall in the state.
Assessing the weather and road condition, vehicular traffic was suspended early on Thursday.
The highway which is the lifeline of essential supplies for the landlocked Kashmir Valley, has remained closed for over a dozen days in January due to landslides and snowfall along the nearly 300-kilometre long road.
Weather was expected to improve from Friday onwards, the Met said.
Some Congress leaders want the coalition to collapse.
If rumours are to be believed, then forces in both the Congress and BJP are working to bring down the coalition government and ultimately the pre-poll alliance.
Since May 2018, when the Congress-JD(S) coalition came to power, the BJP in Karnataka has been sorely disappointed for being unable to form a government, and time and again they’ve tried to poach MLAs and topple the government.
Now, once again, rumours are rife that the BJP is planning to pull off another coup and push for a no-confidence motion when the budget session begins on February 8. What’s intriguing is that several sources in the Congress say that many of the leaders within the party do not want the coalition to stand. “It’s not about retaining power now. It’s about a much larger threat the party is facing,” a Congress source said.S
According to insiders in the grand old party, several prominent leaders in the Congress are extremely unhappy about the Congress-JD(S) pre-poll alliance for the General Elections. Sources say that these leaders fear that this alliance would pave way for the JD(S) to “completely take over” their strongholds in Old Mysuru. In December last year, JD(S) supremo HD Deve Gowda wrote to AICC President Rahul Gandhi stating that the JD(S) would be willing to align with the Congress for the Lok Sabha elections only if the JD(S) is allowed to contest in 12 key constituencies. The former Prime Minister demanded that the tickets to the Mandya, Hassan, Mysuru-Kodagu, Bengaluru Rural, Kolar, Chikkaballapura, Shivamogga, Tumakuru, Udupi-Chikkamagaluru, Chitradurga, Raichur and Bidar segments be handed over to JD(S).
“These are also the areas where the Congress is extremely strong. So many prominent leaders from these MP constituencies will lose their vote bank if they are seen supporting the JD(S) candidate. There is an entire lobby of leaders who are fighting against this pre-poll alliance. The strategy is simple. If there is no coalition, then there will be no pre-poll alliance. Hence, they don’t mind if the party is not in power in the state. They want to retain their voter bases for the numerous elections to come,” a Congress source said.
On Monday, Chief Minister HD Kumaraswamy had also expressed his displeasure over Congress leaders “creating trouble” for the alliance. Kumaraswamy had also expressed his wish to step down as the CM if the Congress did not want to continue as a coalition partner.
“For so many years, the Congress and JD(S) were rivals and suddenly they want these leaders in key constituencies to share their vote bank with them. Why would they agree?” the source questioned.
Currently, there are 79 Congress MLAS, 37 JD(S) MLAs, one MLA each from KPJP (R Shankar) and BSP (N Mahesh) and one independent candidate (Mulbagal H Nagesh), who withdrew support for the coalition earlier this month. With 118 MLAs on its side, the coalition has a simple majority.
BJP sources say that the party has allegedly managed to convince six Congress legislators to resign ahead of the budget session. Sources in BJP and Congress say that six rebel Congress MLAs, including former Minister of Municipalities, Ramesh Jarkiholi, have been cooped up at resorts. Four MLAs are believed to be in Mumbai, one in Pune and the suspended Congress legislator JN Ganesh is allegedly cooling his feet at a resort in Goa.
If rumours are to be believed, then forces in both the Congress and BJP are working to bring down the coalition government and ultimately the pre-poll alliance. The question is – will the BJP succeed this time?
Temperatures rise across Himachal, snow likely
[Nasheman news] ShimlaThe hills of Himachal Pradesh on Wednesday saw a marginal rise in temperatures due to a dry spell, but the Met has forecast rain and snowfall over the next two days till Friday.
“There are chances of rainfall and snow till February 1,” Meteorological Office Director Manmohan Singh told IANS.
He said the western disturbances — storm systems originating from Caspian Sea and moving across the Afghanistan-Pakistan region — would be active in the region.
Most of the prominent tourist towns like Shimla, Narkanda, Kufri, Manali and Dalhousie — located in mid-hills — might see snowfall, he added.
Keylong in Lahaul-Spiti district was the coldest place in the state with a low of minus 14 degrees Celsius against Tuesday’s minus 16.2 degrees.
The state capital recorded a minimum at 2.2 degrees. It saw a rise of 1.4 degrees from Tuesday.
Kalpa in Kinnaur district recorded a low of minus 6.6 degrees Celsius, while it was minus 2.4 degrees in Manali, 3.4 degrees in Kufri, 1.3 degrees in Dalhousie and 2.2 degrees in Dharamsala, where the Dalai Lama lives.
Gandhi remembered on his death anniversary
[NASHEMAN NEWS] New Delhi President Ram Nath Kovind, Prime Minister Narendra Modi and Congress President Rahul Gandhi on Wednesday paid their tributes to Mahatma Gandhi on his death anniversary.
“On Martyrs’ Day, we gratefully remember Mahatma Gandhi and the countless freedom fighters who sacrificed their all for our Independence,” the President tweeted.
Modi said: “We reiterate our commitment to follow the path shown by him and abide by the values he stood for.
“We salute all the martyrs who laid down their lives for India. The country remains eternally grateful to them for their service and sacrifice.”
Sharing a quote by the Father of the Nation, Rahul Gandhi paid tributes to the leader of the Indian independence movement, who was assassinated on this day.
“The greatness of a nation and its moral progress can be judged by the way its weak and vulnerable members are treated,” Gandhi tweeted.
Besides, Chief Ministers of Delhi Arvind Kejriwal and West Bengal’s Mamata Banerjee also paid homage to Gandhi.
“Let us not forget the fact that it is the hatred bred by the fundamentalist ideology of Sangh that took away Bapu. Let us also not forget the fact that it is the same ideology that is staring at us with its ugliest face yet, now,” Kejriwal tweeted.
SC nod sought for releasing land to Ram Janmabhoomi Nyas, others
[Nasheman news] New DelhiThe Centre on Tuesday moved the Supreme Court seeking its nod for giving a part of the 67 acres of undisputed land to the Ram Janmabhoomi Nyas and other original owners.
The top court was moved for the modification of its March 31, 2003 order, directing the observance of status quo on the acquired 67 acres of undisputed land.
The Ram Janmabhoomi Nyas, which has right over 42 acres of this 67 acres, had moved the government seeking return of those 42 acres.
Ex-Himachal CM Virbhadra has swine flu
[Nasheman news] Shimla Congress leader and six-time former Himachal Pradesh Chief Minister Virbhadra Singh was diagnosed positive for swine flu, doctors said on Tuesday. His condition is stable.
He was admitted to the Indira Gandhi Medical College and Hospital in Shimla on Sunday with congestion and breathing trouble. Late on Monday, he was diagnosed with the H1N1 virus.
Forty-four people have so far tested positive for swine flu in the state.
Eighteen patients were reported in Kangra district, followed by 12 in Shimla. Nine lost their lives due to the virus, officials said.