BUDGET
AFTER POLLS MAY HAVE BENEFITS FOR TAXPAYERS WITH INCOME ABOVE RS 5 LAKH, HINTS
PIYUSH GOYAL
Finance minister Piyush Goyal on Friday said
the government may consider relief for taxpayers having annual income above Rs
5 lakh in the main Budget after polls. There is no change in the tax rate and
limits for other category beyond Rs 5 lakh Goyal said. He expressed hope that
next government under the leadership of Prime Minister Narendra Modi will look
into other tax proposals in the main Budget. I had the constraint of this being
an Interim Budget. However, there were many things which could not have been
waited for the final Budget, particularly relief for small taxpayer which I
have passed on. The rest is for the then finance minister for decide in July
2019, he said. Goyal said, This neo-middle class required certainties about
their future tax liabilities and save them from refund process, we have given
benefit to this category.
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MSME
MINISTRY ALLOCATED RS.7011 CRORE IN BUDGET 2019-20
Highlights of the Union Budget 2018 for the
Ministry of MSME are as under:
·
An all-time high allocation of Rs.7011.29 crore
has been made in the Budget of 2019-20.
·
The flagship scheme for employment generation of
the Ministry, namely Prime Minister Employment Generation Programme (PMEGP) got
an all-time high allocation of Rs.2327 crore. This reiterates Government’s
focus on creation of sustainable employment in the non-farm micro enterprise
sector.
·
For ensuring seamless credit guarantee to Micro
and Small enterprises, Rs.597 crore has been provided under the Credit Support
Programme.
·
To provide funding for the 2% interest rebate on
incremental loan up to Rs. 1 Crore for GST-registered MSME units, Rs. 350 crore
has been provided under ‘Interest Subvention Scheme for Incremental Credit to
MSMEs’.
·
Under the recent announcements made on 2nd
November 2018, encompassing multiple initiatives and interventions for the MSME
sector, 20 large and 100 small Technology Centres are going to be set up with a
support of Rs.6000 Crore. This Budget has made allocation for this initiative.
·
For setting up clusters in the manufacturing and
artisan sectors, Rs. 450 crore has been allocated. Allocation under National
SCST-Hub has been increased substantially.
·
Mission Solar Charkha has been launched in the
current financial year, for which Rs. 143 crore has been allocated under the BE
2019-20. The scheme envisages setting up production clusters, each employing
2000 youth in the rural area, at least 50% of which would be women.
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GOVERNMENT
TAKES SEVERAL MEASURES TO STRENGHTHEN MSMES
The Government has taken several measures to
strengthen the Medium, Small and Micro Enterprises (MSMEs). While a Scheme of
sanctioning loans upto Rs. 1 crore in 59 minutes has been launched GST-Registered
SME units will get 2% interest rebate on incremental loan of Rs. 1 crore. Piyush
Goyal said that 25% sourcing by all the Government Undertakings will now have
to be from SMEs. Of this, the material to the extent of at least 3% will be
sourced from women owned SMEs, he added. Piyush Goyal said that transactions of
over Rs.17,500 crore have taken place, resulting in savings of 25-28% on an
average Government e-Marketplace (GeM), created by our Government two years
ago, has transformed public procurement by making it fully transparent,
inclusive and efficient. MSMEs have an opportunity to sell their products
through GeM, the Finance Minister said. The GeM platform is now being extended
to all CPSEs, he announced while presenting the Interim Budget.
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THE
BUDGET FOR NEW INDIA WILL ENERGISE THE NATION, SAYS PM
Prime Minister Narendra Modi has lauded the
budget as the budget for New India which will energise the nation. In a series
of Tweets and the statement after the
presentation of interim budget 2019-20, PM said that over 12 crore farmers and
their families, over 3 crores middle class tax payers professionals and their
families and 30-40 crore labourers will gain thanks to the Budget for New India PM said, the development
initiatives of the NDA government have touched several lives which have been
reflected in the budget proposals from farmer welfare to middle class, from
income tax relief to infrastructure, from manufacturing to MSME, from housing
to healthcare and from the increased pace of development to the New India, He
expressed happiness that it is good to see more people being removed from the
shackles of poverty. Our Neo-middle class is rising and so are their dreams. PM
congratulated the middle class for the relief in taxes and said, I salute the middle class for their stellar
contribution towards the development of the nation. About the pro-farmer
initiatives in the budget, he lamented that for years, many initiatives have
been initiated for farmers but sadly, lot of farmers never came under the ambit
of these schemes. He said that PM Kisan Nidhi is a historic step for farmer
welfare which will help the farmers who have under 5 acres of land. PM added
that the animal husbandry sector, fisheries have been taken care of in the
Budget for New India. He said PM Shram Yogi Man Dhan Yojana will be of great
help. This sector needed more safeguarding of their interests and the Budget
for New India has done so. Ayushman Bharat Yojana and social security schemes
are also going to touch their lives, PM added.bPM summed it up saying that it
is essential to ensure the benefits of development reach all sections of
society He said, The budget will empower the poor, give a boost to the farmer
and an impetus to the economic growth.
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MOODY'S
SAYS INTERIM BUDGET CREDIT NEGATIVE ON FISCAL DEFICIT, GIVEAWAYS
Terming the inability to meet fiscal deficit
target for four consecutive years as a big credit negative for the sovereign,
global rating agency Moody's on Friday doubted if the country will meet even
the 3.4 per cent fiscal gap target for FY20.
The agency said in the Interim Budget there is an absence of new
policies to boost revenues but has many measures leading to higher expenditure
which though will increase consumption will also increase the fiscal burden.
The Budget pegs fiscal deficit slipping by 10 bps to 3.4 per cent for the
current year, courtesy an income support scheme for farmers and expects it to
stay at the same level in FY20 as well. Ongoing slippage from the budgeted
fiscal deficit targets over the past two years, and our expectation that
government will face challenges meeting its target again in the year to March
2020 does not bode well for medium-term fiscal consolidation. We view this
continued slippage as credit negative for the sovereign, the agency said in its
quick note on the Ïnterim Budget. Moody's -- the only one among the global
agencies to upgrade the outlook on the sovereign rating -- however, said fiscal
deficit numbers are as per its expectations. The moves on basic income for
farmers -- Rs 6,000 per person in three instalments per annum -- and subsidised
agricultural loans are likely to boost the rural economy through consumption in
the near-term, but will have a fiscal cost, it noted.
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NOT GOING
BACK TO BALLOT PAPER: CEC
Sunil Arora on Friday ruled out going back to
the ballot paper a demand raised by many opposition parties who have questioned
authenticity of the electronic voting machine (EVM). We are not going back to
the days of ballot paper. (The) EVMs have been in use in our country for more
than two decades. And it has been a consistent policy of the ECI (Election
Commission of India) for quite sometime and I think it will remain the same,
Arora said. Political parties have a right to make their feedback known and
their apprehensions because they're the biggest stakeholders after the voters.
But, we're not going to go back to ballot-paper days. We're not going to the
days of ballot papers being snatched, muscle powers being used for that (and)
inordinate delays in counting, the chief election commissioner (CEC) said.
Arora cited that there was a difference between tampering and malfunctioning
We've been using the words very loosely as if they are synonymous. Tampering
and malfunctioning are two different things. The commission has zero tolerance
on malfunctioning. We're constantly trying to upgrade the EVMs and make them
foolproof. The CEC said the EVMs were manufactured by highly-secured companies,
which have been engaged in defence equipments manufacturing too, and a
technical expert panel supervises it. Arora said the voter-verifiable paper
audit trail (VVPAT), which have been successfully used in the recent state
elections, would now be used across the country in the upcoming Lok Sabha
polls.
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OPPOSITION
PARTIES TO APPROACH EC ON MONDAY OVER EVM ISSUE
Opposition parties met and decided to
approach the Election Commission on Monday for redressal of their concerns over
the use of EVMs in the upcoming Lok Sabha polls. Rahul Gandhi, addressing the
media after the meeting on Friday, said the issue of EVMs was discussed at
length by the opposition leaders. We have had a good meeting. All parties have
agreed to discuss in detail three issues -- two central and one structural --
jobs, agriculture and attack on institutions. We are going to meet and find
solutions to these problems, he said. Asked about the budget being hailed as a
surgical strike, Gandhi said surgical strike will happen on the prime minister
and his government on issues such as Rafale, jobs and demonetisation. He said
opposition parties will meet election commission officials on Monday over
concerns about EVM tampering.
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NATIONAL
SAMPLE SURVEY OFFICE’S UNEMPLOYMENT DATA CONFIRMS CRISIS ON THE GROUND: EXPERTS
The National Sample Survey Office’s (NSSO's)
data showing a record spike in unemployment in 2017-18, which was published in
a news report on Thursday, is a validation of trends seen on the ground,
according to labour economists, job-seekers and workers’ representatives. The
government’s failure to release the NSSO report was the latest sign of a
complete lack of transparency regarding jobs data, they said. The NSSO findings
are not surprising, but they are alarming. The trends of rising unemployment
were already visible. Our analysis showed it was higher in 2015 than in
2011-12, and we expected demonetisation to have a harsh effect, said Amit
Basole, head of the Centre for Sustainable Employment at Azim Premji University
in Bengaluru, and lead author of a report, State of Working India, 2018. Dr.
Basole noted that the government’s decision to discontinue the NSSO’s five year
surveys, failure to regularly release Labour Bureau data and delay in releasing
the NSSO’s periodic labour force survey had led to an atmosphere of uncertainty
and confusion. Instead, the government kept citing job numbers based on EPFO’s
payroll data and the Mudra loans, which are not helpful, he said. The LFPR is a
measure of people looking for jobs. So, if this is declining while unemployment
is growing, it means that there is a very real and serious crisis in jobs. The
government has to make the data public as soon as possible, added Anamitra Roy
Chowdhury, a labour economist with the Centre for Informal Sector & Labour
Studies at Jawaharlal Nehru University. The informal sector employs more than
90% of the country’s workforce, and has witnessed a decline in available work
and wages in the last two years, said Chandan Kumar. Daily wage labourers say
they used to get at least 20 days of work each month. After demonetisation,
they get only ten days, he pointed out.
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REVISED
NUMBERS FOR FY17, FY18 SHOW ECONOMY GREW MUCH FASTER
India’s economy expanded at a much faster
rate than initially estimated in the last two fiscal years, according to
revised numbers released by the government, which show that growth remained
high despite disruptions from demonetisation and the rollout of goods and
services tax. The statistics office on Thursday revised the growth rate for
India’s gross domestic product for fiscal 2017 to 8.2% from the 7.1% reported
earlier. The growth estimate for fiscal 2018, the first full year after
demonetisation and which also included the first nine months of GST, was raised
to 7.2% from 6.7% in the first revised estimates for FY18. The data indicate a
sharper slowdown between the two years than estimated earlier. The gap widened
to a full percentage point from 0.4 percentage point earlier. There is an
all-round upward revision across all sectors, led by agriculture, said DK
Joshi. The statistics offices said the revision was on account of use of latest
available data on agricultural and industrial production, government
expenditure, and also more comprehensive numbers from source agencies like the
Ministry of Corporate Affairs and Nabard. Some economists expressed surprise at
the numbers. The revision in the data is surprising and it turns the story of a
slowdown beginning from Q2FY17 on its head, said Soumya Kanti Ghosh. The
provisional estimates show that gross value added grew 6.9% in 2017-18, driven
by higher primary sector growth. It was previously estimated at 6.5%. Nominal
GDP, or GDP at current prices, has been revised to 11.3% from 10% for 2017-18,
and to 11.5% from 10.8% for 2016-17.
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ONE LAKH
VILLAGES TO GO DIGITAL OVER NEXT FIVE YEARS
India having emerged as the world leader in
the consumption of mobile data, the Government now aims to widen its impact by
reaching out to the interior and rural areas. Piyush Goyal said the Government
will make one lakh villages into Digital Villages over next five years This, he
said, will be achieved by expanding the Common Service Centres (CSCs). The
Common Service Centres are expanding their services and also creating digital
infrastructure in the villages including connectivity, to convert the villages
into Digital Villages, said Shri Piyush Goyal. More than 3 lakh Common Service
Centres (CSCs) employing about 12 lakh people, are digitally delivering several
services to the citizens, he added. The Finance Minister said mobile tariff in
India is now possibly the lowest in the world catapulting India as the world
leader in the consumption of mobile data. Monthly consumption of mobile data
increased by over 50 times in the last five years. The cost of data and voice
calls in India is now possibly the lowest in the world. Goyal said the ‘Make in
India’ programme has seen India emerging as the new destination for mobile
phone manufacturing industry. Today, under Make in India, mobile and parts
manufacturing companies have increased from 2 to more than 268 providing huge
job opportunities, he added.
JAM-DBT, the next big game changer since Bank
Nationalisation
·
The Finance Minister termed the Jan Dhan-Aadhaar-Mobile
(JAM) and Direct Benefit Transfer as game changers.
·
Bank nationalisation was first done 50 years ago,
but a large part of the country was still left out of the economic mainstream
with no access to formal banking. In the last five years, nearly 34 crore Jan
Dhan bank accounts were opened, said Shri Piyush Goyal.
·
The Finance Minister said Aadhaar has ensured
better targeted subsidies.
·
Aadhaar is now near universally implemented. This
has helped ensure the poor and middle class receive the benefits of Government
schemes directly in their bank accounts by eliminating middlemen, he said.
·
Single window clearance for film shoot extended to
Indian filmmakers
·
Recognising India’s Entertainment Industry as a
major job sector, the Finance Minister declared extension of single window
clearance for film shoot to Indian filmmakers. Single window clearance for ease
of shooting films, available only to foreigners, is now going to be made
available to Indian filmmakers as well, said Shri Piyush Goyal.
·
The Finance Minister also announced other measures
to ease filmmaking and check piracy Regulatory provisions will rely more on
self-declaration. We will also introduce anti-camcording provisions in the
Cinematograph Act to control the menace of piracy, he said.
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HIGHEST
EVER GROWTH OF 42% RECORDED IN MINIMUM WAGES OF LABOURS DURING LAST 5 YEARS
During the last 5 years, the minimum wages of
labours of all classes have been increased by 42% which is the highest increase
so far. Piyush Goyal said that the high growth and formalistation of the
economy has led to the expansion of employment opportunities as shown in EPFO
membership, which has increased by nearly 2 crore in 2 years reflecting
formalisation of the economy and job creations. Goyal said that the 7th Pay
Commission recommendations were implemented and New Pension Scheme (NPS) has
been liberalized. The Government’s contribution in NPS had been increased 10%
to 14%. The limit of gratuity payment has been increased from Rs. 10 lakh to
Rs. 20 lakh. The limit of eligibility cover of ESIC has been increased from Rs.
15,000 per month to Rs. 21,000 per month. The minimum pension for all labours
has been fixed at Rs. 1,000 per month. In case of the death of a labour during
the service, the EPFO contribution has been increased from Rs. 2.5 lakh to Rs.
6 lakh. The honorarium of all classes of labours under Anganwadi and Asha
scheme has been increased by about 50%.
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FISCAL
PROGRAMME FOR 2019-20 AND BEYOND
The Interim Budget 2019-20 has pegged the
fiscal deficit for the year 2019-20 at 3.4% of GDP Piyush Goyal said, The
estimate of incomes and expenditure which I am presenting today, pegs the
fiscal deficit of year 2019-20 at 3.4% of GDP. Shri Goyal said in his Speech,
We would have maintained fiscal deficit at 3.3% for year 2018-19 and taken
further steps to consolidate fiscal deficit in year 2019-20. However,
considering the need for income support to farmers we have provided Rs. 20,000
crore in 2018-19 RE and Rs. 75,000 crore in 2019-20 BE. If we exclude this, the
fiscal deficit would have been less than 3.3% for 2018-19 and less than 3.1%
for year 2019-20. The Macro-Economic Framework Statement says that the Revenue
deficit in 2018-19 was budgeted at Rs. 4,16,034 crore, 2.2 % of GDP. On the
other hand, the Current Account Deficit widened to 2.7 % of GDP in first half
of 2018-19 from 1.9 % of GDP in 2017-18, mainly on account of higher trade
deficit arising from higher petroleum, oil and lubricants imports. Despite the
marginal increase, the fiscal deficit to GDP ratio is well on track to achieve
its target level of 3% of GDP. The main focus of the ensuing year will be to
improve the expenditure efficiency and improve tax collections to ensure that
the economy moves back to the fiscal deficit path as mentioned in the Fiscal
Responsibility & Budget Management (FRBM) Act, says the Medium Term Fiscal
Policy cum Fiscal Policy Strategy Statement. Further, the above document says
that the Gross Tax Revenue of the Central Government is budgeted at Rs.
25,52,131 crore in BE 2019-20. This reflects a growth of Rs. 3,03,956 crore
(13.5 %) over RE 2018-19. Direct taxes are expected to reach Rs. 13,80,000
crore in BE 2019-20 compared to Rs. 12,00,000 crore in RE 2018-19 indicating an
increase of 15 % over RE. It is expected that direct taxes would be 6.6 % of
GDP at the end of 2019-20. Indirect taxes are budgeted at Rs. 11,66,188 crore
in BE 2019-20 showing an increase of 11.8 % over RE estimates (Rs. 10,42,833
crore). The increase is mainly on account of improvement in GST collections
anticipated in 2019-20. Non-tax revenue collections in 2019-20 is budgeted at
Rs. 2,72,647 crore as compared to Rs.2,45,276 crore in RE 2018-19. This shows
an increase of Rs.27,371 crore over RE 2018- 19, as per the Medium Term Fiscal
Policy cum Fiscal Policy Strategy Statement. The Finance Minister, in his
Budget Speech, said that the total expenditure has reflected a high increase
considering low inflation. It has risen by Rs. 3,26,965 crore or approximately
13.30%, from Rs. 24,57,235 crore in 2018-19 RE to Rs. 27,84,200 crore in
2019-20 BE. Further, 2018-19 RE figures have shown an increase over BE 2018-19
figures by Rs. 15,022 crore. The Capital Expenditure for 2019-20 BE is
estimated to be Rs. 3,36,292 crore. The increase in total expenditure is on
account of increased support to agricultural sector, interest payments and
internal security, as per the ‘Budget at a Glance’ document. In BE 2019-20,
Centrally Sponsored Schemes (CSS) are proposed to be allocated Rs. 3,27,679
crore as against Rs. 3,04,849 crore in 2018-19 RE. Detailing further, Shri
Goyal said in his Speech that allocation for National Education Mission is
being increased from Rs. 32,334 crore in RE 2018-19 to Rs. 38,572 crore in BE
2019-20. Also, allocation for Integrated Child Development Scheme (ICDS) is
being increased from Rs. 23,357 crore in RE 2018-19 to Rs. 27,584 crore in BE
2019-20. A substantial increase is proposed in the allocation for welfare of
the Scheduled Castes and Scheduled Tribes, said Shri Goyal. The allocation of
Rs. 56,619 crore made in BE of 2018-19 for Scheduled Caste, further increased
to Rs. 62,474 crore in RE is proposed to be enhanced to Rs. 76,801 crore in BE
for 2019-20, an increase of 35.6% over BE of 2018-19. For the Scheduled Tribes
also, proposed allocation in 2019-20 BE is Rs. 50,086 crore as against Rs.
39,135 crore in BE 2018-19, an increase of 28%. Regarding Disinvestment
proceeds, the Government is confident of crossing the target of Rs. 80,000
crore this year and have kept a target of Rs. 90,000 crore in BE 2019-20, as
per the ‘Budget at a Glance’ document. Shri Goyal said in his Speech, We have
pursued the public enterprises asset management agenda to make these
enterprises accountable to the people. As many as 57 CPSEs are now listed with
total market capitalisation of over Rs. 13 lakh crore. The Government received
over Rs. 1 lakh crore from disinvestment proceeds during 2017-18. As per the
Medium Term Fiscal Policy cum Fiscal Policy Strategy Statement, Non-Debt
capital receipts on capital side are expected to be Rs.1,02,508 crore in BE
2019-20 indicating an increase of Rs. 9,353 crore over RE 2018-19. Increase in
non-debt capital receipts is mostly on account of disinvestment which is budgeted
at Rs.90,000 crore (RE 2018-19 – Rs. 80,000 crore). Total net borrowings in
2019-20 are projected at Rs.7,03,999 crore as compared to Rs.6,34,398 crore in
RE 2018-19. This reflects an increase of 11 % over RE. The Government had
promised last year that it would carry out reforms in stamp duty levied and
collected on financial securities transactions
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SBI
DENIES DATA BREACH, SAYS SERVERS, CUSTOMER DATA FULLY SECURE
The nation's largest lender State Bank of
India Friday denied reports that its servers have been compromised last week
and assured that all its customer data continue to remain safe and secure SBI
has some unprotected servers which gave access to the financial information of
its millions of customers to anyone looking for it. The report, however, did
not quantify as to how many of SBI's over 42.2 crore customers were hit. SBI
said it has thoroughly investigated the matter after it was brought to the
notice. Our investigation has revealed that our servers are fully protected and
there was no breach at all the bank tweeted Friday and assured that data of all
its customers are safe and secure. The bank said the incident under question
relates to a service in which account information is quickly made available to
a customer through an ongoing SMS service after taking care to mask account
details so that customer data is protected.
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POWER
MINISTER CALLS THE BUDGET AS HISTORIC, PEOPLE FRIENDLY AND FORWARD LOOKING
Interim Budget 2019-20 is historic, it’s
people friendly and forward looking. It provides assistance to all sectors
which need assistance at the same time maintaining fiscal prudence, said Shri
RK Singh. He expressed hope that the Budget would be able to bring smile to
every face. He said, Till the year 2014, about 2.5 crore families were forced
to live the life of 18th centuary without electricity. Under 'Saubhagya Yojna',
we provided free electricity connection to almost every household. By March,
2019, all willing families will get electricity connection. Commenting on UJALA
scheme, the Finance Minister said that 143 crore LED bulbs have been sold with
the combined efforts of the Government and private sector and this has resulted
into a savings of approximately Rs. 50,000 crore per year in electricity bills
of poor and middle class families.
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RAJNATH
SINGH HAILS THE INTERIM BUDGET AS HISTORIC
Rajnath Singh hailed the Interim Budget as
historic which he said is not only development friendly but also pays special
attention to the middle class, farmers, workers in unorganised sector and the
other vulnerable sections of our society. Sing said that the announcement of
exemption from income tax to people with income up to Rs 5 lakh and another Rs
1.5 lakh in investments totalling Rs 6.5 lakh will have a major impact on the
lives of middle class in general and salaried class in particular. Minister said that with the PM Kisan Samman Nidhi
Yojana the government will provide income support to small and marginal farmers
which will bring big relief to farmers. Under this scheme every farmer with
land holdings upto 2 hectares will receive a sum of Rs 6,000 per year directly
in their bank accounts. He said that under Pradhan Mantri Shram Yogi Mandhan
Yojana, the government will now provide assured monthly pension of 3000 rupees
per month after 60 years of age, at a nominal contribution of Rs 100 per month.
He said that the Budget will go a long way in accelerating the process of
making a New India which is confident, self- reliant, developed and prosperous.
It also highlights the vision and way foward for making India a 10 trillon
dollar economy by 2030.
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BUDGET IS
A VERY BALANCED ONE WHICH WILL BENEFIT THE ECONOMY AS A WHOLE
Paswan addressing media after the Budget
presentation asserted that the Budget is a very balanced one which will benefit
the economy as a whole while ensuring that the Gaon, Gareeb and Kisan get their
due share. Shri Paswan further said that it is a Sabka Saath Sabka Vikaas
Budget which has provision for betterment of all sectors of the economy with a
special focus on the social sectorand this has been the focus of the Prime
Minister Shri Narendra Modi led government. The Union Minister further asserted
that the Budget will hugely benefit the masses as all sectors of the economy
have been appropriately covered with increased allocation for key schemes. Shri
Paswan emphasised that the Budget will also enormouslybenefit the SC/ST
communities. He said that there has been a drastic improvement in the
allocation for Schedule Castes and Schedule Tribes with an increase of 35% and
28% for both respectively.
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GOVERNMENT
SETS UP COMMITTEE TO EXPLORE PREPAID PAYMENTS BY DISCOMS TO GENERATOR COMPANIES
The government has constituted a committee
under the Central Electricity Authority (CEA) to explore prepaid payments by
state electricity distribution companies to power plants, a government official
said. With this the government has deferred a decision on a recommendation made
by Cabinet Secretary P K Sinha led panel to put in place a bill discounting
mechanism ahead of elections. The committee, constituting chairmen of
distribution companies of Tamil Nadu and Maharashtra, representatives from
Union power ministry and power associations, will look into problems of delayed
payments from distribution companies to power generators, the official said.
The power ministry has already issued an advisory to states to shift to prepaid
smart metering for all consumers in the next three years. In this regard, a
view has emerged that the payments from discoms to generation companies may
also be moved towards a prepaid system, the official said. The CEA –led
committee has been asked to submit its recommendations to the power ministry in
one month. The committee will study working capital cycles of power
distribution companies and generation companies and identify gaps contributing
to stress in the sector. It will also study the regulations with respect to
payment mechanisms and transactions across power sector value chain and suggest
a mechanism for the prepaid system of transactions, he said. Power generators
pay in advance to coal companies while delayed receivables from discoms mounted
Rs 30,000 crore this year.
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GOVERNMENT
TO IMPLEMENT RECOMMENDATIONS OF THE INTER-MINISTERIAL COMMITTEE
The Government is in the process of
implementing the recommendations of the high level Inter-Ministerial Committee
that has made several specific recommendations regarding the exploration in the
Petroleum and Gas sector. Piyush Goyal said India's import dependence on crude
oil and natural gas has been a source of big concern to our Government. While
we have taken a large number of measures to moderate the increasing demand
through usage of bio fuel and alternate technologies, urgent action is needed
to increase hydrocarbon production to reduce imports. The Committee’s
recommendations include transforming the system of bidding for exploration and
changing from revenue sharing to exploration programme for Category-II and III
basins.
CONNECTIONS
UNDER UJJWALA YOJANA
The Interim Budget says that more than six
crore connections have already been given under the Ujjwala Yojana. Shri Goyal
said In our Election Manifesto, we had promised that we will transform the
quality of life of women in rural India by providing cleaner fuel. For securing
the health of every homemaker in rural areas and to ensure that she does not
have to shed tears for cooking food to nourish her family, our Government
embarked upon a programme to deliver 8 crore free LPG connections under the
Ujjwala Yojana. More than 6 crore connections have already been given and the
remaining will get free gas connections by next year. Ujjwala is a remarkable
success story of our Government programme, defined by a bold yet practical
Vision of a responsible and compassionate leadership.
PETROLEUM
SUBSIDIES
The Interim Budget has provided Rs. 37,478
crore as Petroleum subsidy in 2019-20 Budget estimates compared to Rs. 24,933
crore provided in the Budget estimates of 2018-19.
IMPORT OF
POL
The statement laid under the FRBM Act, along
with the budget documents, states that Imports of petroleum, oil and lubricants
(POL) increased by 42.9 percent in April-December 2018 to US$ 108.1 billion
from US$ 75.7 billion in the corresponding period of the previous year, mainly
on account of rise in international crude oil prices.
12
STATES/UTS VOLUNTARILY SURRENDER PDS KEROSENE ALLOCATIONS
It further states that 12 State
Governments/UTs (Karnataka, Haryana, Telangana, Nagaland, Chandigarh, Gujarat,
Andhra Pradesh, Bihar, Goa, Puducherry, Rajasthan and Maharashtra) have
voluntarily surrendered their PDS kerosene allocations under Direct Benefit
Transfer in Kerosene (DBTK) Scheme. As on date, 8 State Governments/UTs have
already cut down their PDS Kerosene allocation to nil. In the year 2018-19 (1st
Qtr., 2nd Qtr. And 3rd Qtr.), the allocation for PDS Kerosene has been
maintained at the level of the corresponding period of the previous year
(2017-18) except for the States voluntarily surrendering their PDS SKO quota.
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TOTAL
BUDGET ALLOCATION FOR THE WCD MINISTRY ENHANCED BY RS.4856 CRORES
The Union Budget for 2019-20 has placed a
sharp focus on protection and empowerment of women and children. Overall budget
of the Ministry has been increased by Rs. 4856 crores which is almost 20%
higher than the previous year. It may be recalled that the budget for 2018-19
was itself increased by 12% from the previous year which indicates an
increasing commitment of the government towards women and children. The total
budget provision for the WCD Ministry for 2019-20 stands at Rs. 29165 crores. Maneka
Sanjay Gandhi, while thanking the Finance Minister for enhanced allocations
stated that the increase in funds will help the Ministry to vigorously fight
malnutrition and provide more efficient facilities for protection of women and
children. WCD Minister also stated that she will be preparing a road map for
the next five years of Ministry wherein integrated large facilities will be
established for women and children in need of care and protection across the
country. The allocation for the National Creche Scheme has been enhanced from
Rs.30 crores to Rs.50 crores which will enable working women to safely leave
their children while they are out at work. Similarly, the budget for Working
Women’s Hostel scheme has been increased to
more than three times from Rs.52 crores (RE 2018-19) to Rs.165 crores
(BE 2019-20). With all the components of Mahila Shakti Kendras scheme having
been put in place, the budget for this scheme has been increased from Rs.115
crores to Rs.150 crores. On the issue of providing for safety needs of all
women, the budget for the UJJAWALA scheme (WCD Ministry for rescued trafficked
women) has been increased from Rs.20 crores to Rs.30 crores. Similarly the
budget for the widow’s homes has also been increased from Rs.8 crores to Rs.15 crores.
Effectively the total budget under the Mission for Protection and Empowerment
of Women stands increased from Rs.1156 crores to Rs.1330 crores.
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MINISTRY
OF HOME AFFAIRS BUDGET EXCEEDS RS 1 LAKH CRORE FOR THE FIRST TIME
The NDA government’s focus on internal security
was reflected in the interim budget, with the allocation for the Ministry of
Home Affairs (MHA) exceeding Rs 1 lakh crore for the first time. Interim
finance minister allocated Rs 1,03,927 crore to the MHA, Rs 10,477 crore more
than that for the previous year. The revised estimates for 2018-19 pegged the
MHA’s expenditure at Rs 99,034 crore. The allocation for improving police
infrastructure went up to Rs 5,117 crore from Rs 4,750 crore, continuing the
emphasis seen in the previous year. Similarly, the budgetary allocation under
the sub-head of ‘Mission for Protection and Empowerment for Women’ increased to
Rs 1,330 crore from previous year’s revised budgetary estimate of Rs 1,156
crore, which marked a slippage from the budgetary estimate of Rs 1,366 crore.
On the other hand, the allocation for border infrastructure and management was
a shade lower, at Rs 2,000 crore, from previous year’s revised estimate of Rs
2,001 crore.
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RS. 1330
CRORE PROVIDED IN THE INTERIM BUDGET 2019-20 FOR THE MISSION FOR PROTECTION AND
EMPOWERMENT FOR WOMEN
An amount of Rs.1330 Crore has been provided
in the Interim Budget for 2019-20 for the Mission for Protection and
Empowerment for Women. This is an increase of Rs. 174 Crore over the Revised
Estimates of 2018-19 for the Mission. Government has been to move from ‘women’s
development’ to ‘women led development’ during the last 4.5 years. Piyush Goyal
said that the Government embarked upon the programme to deliver 8 crore free
LPG connections under the Ujjawala Yojana. 6 crores connections have already
been given and the remaining will get free gas connections by next year. Ujjwala
is a remarkable success story of our Government programme, defined by a bold
yet practical Vision of a responsible and compassionate leadership, the Finance
Minister said. Goyal further added that More than 70% of the beneficiaries of
Pradhan Mantri MUDRA Yojana are women who are getting affordable and
collateral-free loans to start their own businesses. Highlighting the benefits
of Maternity leave of 26 weeks and Pradhan Mantri Matru Vandana Yojana for
pregnant women, the Finance Minister said that these initiatives have provided
financial support to women while empowering them to participate in work.
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GOVERNMENT
PROPOSES TO LAUNCH MEGA PENSION YOJANA 'PRADHAN MANTRI SHRAM-YOGI MAANDHAN' FOR
UNORGANISED SECTOR WORKERS
The Government proposes to launch a mega
pension yojana namely 'Pradhan Mantri Shram-Yogi Maandhan' for the unorganised
sector workers with monthly income upto Rs. 15,000 Piyush Goyal said that half
of India’s GDP comes from the sweat and toil of 42 crore workers in the
unorganised sector working as street vendors, rickshaw pullers, construction
workers, rag pickers, agricultural workers, beedi workers, handloom, leather
and in numerous other similar occupations. The Government must provide them
comprehensive social security coverage for their old age. Therefore, in
addition to the health coverage provided under ‘Ayushman Bharat’ and life &
disability coverage provided under ‘Pradhan Mantri Jeevan Jyoti Bima Yojana’
and ‘Pradhan Mantri Suraksha Bima Yojana’, our Government proposes to launch a
mega pension yojana namely 'Pradhan Mantri Shram-Yogi Maandhan' for the unorganised
sector workers with monthly income upto Rs. 15,000. Shri Goyal said that this
pension yojana shall provide them an assured monthly pension of Rs. 3,000 from
the age of 60 years on a monthly contribution of a small affordable amount
during their working age. An unorganised sector worker joining pension yojana
at the age of 29 years will have to contribute only Rs. 100 per month till the
age of 60 years. A worker joining the pension yojana at 18 years, will have to
contribute as little as Rs. 55 per month only. The Government will deposit
equal matching share in the pension account of the worker every month. It is
expected that at least 10 crore labourers and workers in the unorganised sector
will avail the benefit of 'Pradhan Mantri Shram-Yogi Maandhan' within next five
years making it one of the largest pension schemes of the world. A sum of Rs.
500 crore has been allocated for the Scheme. Additional funds will be provided
as needed. The scheme will also be implemented from the current year.
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15.56
CRORE LOANS AMOUNTING TO RS. 7,23,000 CRORE DISBURSED UNDER MUDRA YOJANA
Under MUDRA Yojana, 15.56 crore loans have
been disbursed amounting to Rs. 7,23,000 crore. Piyush Goyal said that India is
amongst the most youthful nations in the world. Through Pradhan Mantri Kaushal
Vikas Yojana, over 1 crore youth are being trained to help them earn a
livelihood. Youth power has been harnessed through Self-employment Schemes
including MUDRA, Start-up India and Stand-up India. With job seekers becoming
job creators, India has become the world’s second largest start-up hub The
Government is proud of the hard work and innovative ideas of our youth. Goyal
said that in order to take the benefits of Artificial Intelligence and related
technologies to the people, a National Programme on 'Artificial Intelligence'
has been envisaged by the Government. This would be catalysed by the
establishment of the National Centre on Artificial Intelligence as a hub along
with Centres of Excellence. Nine priority areas have been identified. A
National Artificial Intelligence portal will also be developed soon.
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PRADHAN
MANTRI KISAN SAMMAN NIDHI ANNOUNCED TO PROVIDE ASSURED INCOME SUPPORT
To provide an assured income support to the
small and marginal farmers, the Government is launching the Pradhan Mantri
Kisan Samman Nidhi (PM-KISAN). Piyush Goyal said, Under this programme,
vulnerable landholding farmer families, having cultivable land upto 2 hectares,
will be provided direct income support at the rate of Rs. 6,000 per year This
income support will be transferred directly into the bank accounts of
beneficiary farmers, in three equal instalments of Rs. 2,000 each. This
programme will be funded by Government of India. Around 12 crore small and
marginal farmer families are expected to benefit from this. The programme would
be made effective from 1st December 2018 and the first installment for the
period upto 31st March 2019 would be paid during this year itself. This
programme will entail an annual expenditure of Rs.75,000 crore. PM-KISAN would
not only provide assured supplemental income to the most vulnerable farmer
families, but would also meet their emergent needs especially before the
harvest season. PM-KISAN would pave the way for the farmers to earn and live a
respectable living.
RASHTRIYA
GOKUL MISSION
Regarding Animal Husbandry the Minister said,
I have increased the allocation for Rashtriya Gokul Mission to Rs.750 crore in
the current year itself. I announce setting up of Rashtriya Kamdhenu Aayog to
upscale sustainable genetic upgradation of cow resources and to enhance
production and productivity of cows. The Aayog will also look after effective
implementation of laws and welfare schemes for cows.
DEPARTMENT
OF FISHERIES
To provide sustained and focused attention
towards development of fisheries sector, the Government has decided to create a
separate Department of Fisheries The Minister said, In the last Budget, our
Government announced the facility of extension of Kisan Credit Card scheme
(KCC) to Animal Husbandry and Fisheries farmers. Now, I propose to provide the
benefit of 2% interest subvention to the farmers pursuing the activities of
animal husbandry and fisheries, who avail loan through Kisan Credit Card.
Further, in case of timely repayment of loan, they will also get an additional
3% interest subvention.
CROP
LOANS
When natural calamities strike, farmers are
generally unable to repay their crop loans. The Finance Minister said,
Presently, the crop loans are rescheduled for such affected farmers and they
get benefit of interest subvention of 2% only for the first year of the
rescheduled loan. Our Government has now decided that all farmers affected by
severe natural calamities, where assistance is provided from National Disaster
Relief Fund (NDRF), will be provided the benefit of interest subvention of 2%
and prompt repayment incentive of 3% for the entire period of reschedulement of
their loans.
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COMMITTEE
UNDER NITI AAYOG TO BE SET -UP TO COMPLETE TASK OF IDENTIFYING DE-NOTIFIED,
NOMADIC AND SEMI-NOMADIC COMMUNITIES NOT YET FORMALLY CLASSIFIED
A Committee under NITI Aayog will be set-up
to complete the task of identifying De-notified, Nomadic and Semi-Nomadic
communities not yet formally classified. Piyush Goyal said that the Government
will also set-up a Welfare Development Board under the Ministry of Social
Justice and Empowerment specifically for the purpose of implementing welfare
and development programmes for De-notified, Nomadic and Semi-Nomadic
communities. The Board shall ensure that special strategies are designed and
implemented to serve these hard to-reach communities. Goyal said that the
Government is committed to reach the most deprived citizens of this country. To
this end, the condition of the De-notified, Nomadic and Semi-Nomadic
communities merits special attention. These communities are hard to reach, less
visible, and therefore, frequently left-out. The Nomadic and Semi-Nomadic
communities move from place to place in search of a livelihood. The Renke
Commission and the Idate Commission have done commendable work to identify and
list these communities.
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RS 61,398
CRORE ALLOCATED FOR HEALTH SECTOR; RS 6,400 CRORE EARMARKED FOR AB-PMJAY
Piyush Goyal Friday announced a Rs 61,398
crore budgetary allocation for the health sector for the 2019-2020 fiscal, with
Rs 6,400 crore earmarked for the centre's ambitious AB-PMJAY health insurance
scheme. The health outlay for the upcoming financial year is the highest in the
last two financial years and a 16 per cent increase over the 2018-2019
allocation which was Rs 52,800 crore. Rs 250 crore has been allocated for
setting up Ayushman Bharat Health and Wellness Centres under the National Urban
Health Mission to provide comprehensive and quality primary care close to the
community. Rs 1350.01 crore has been earmarked for setting up Health and
Wellness Centres under the National Rural Health Mission.
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LAW
MINISTRY GETS ADDITIONAL RS 667 CR FOR CONDUCT OF LOK SABHA POLLS
The Law Ministry has been allocated an
additional sum of over Rs 666 crore for conduct of Lok Sabha elections due this
summer. According to the Vote on Account 2019-2020, an additional provision has
been made for the Law Ministry of Rs 666.66 crore (voted), in the revenue
section for conduct of the polls. The Law Ministry is the administrative
ministry for the Election Commission. Certain funds are also allocated to the
Home Ministry for elections, which is largely used for transportation and
logistics related to security personnel. Some of the amount spent by the Home
Ministry is later reimbursed by the Law Ministry. Separately, the Election
Commission has been allocated an additional Rs 12.14 crore (voted) in the
revenue section and Rs 16.67 crore (voted) in the capital section for a voters’
awareness campaign and for land acquisition from the DDA for construction of an
office building.
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BUDGET
OUTLAYS FOR IITS, IIMS REDUCED
There has been a decline in Budget outlays
for IITs, IIMs, IISER, and statutory and regulatory bodies such as UGC and
AICTE in the interim budget for 2019-20 as compared to the allocation for
2018-19. This comes at a time when the Human Resource Development Ministry has
said it will implement 10 per cent reservation for economically weaker sections
of the general category from the 2019 academic session and has directed an
increase of around 25 per cent seats in higher educational institutions and universities
across the country. The Budget outlay for the Indian Institutes of Management
(IIMs) was Rs 415.41 crore, a massive decline of 59.9 per cent from last
fiscal’s allocation of Rs 1,036 crore. The Indian Institutes of Technology
(IITs) have been allocated Rs 6,223.02 crore, as against Rs 6,326 crore in
2018-19. The IITs also saw a budget cut in the last fiscal from Rs 8,337.21
crore in 2017-18 to Rs 6,326 crore in 2018-19. The Budget outlay for the
University Grants Commission (UGC) is Rs 4,600.66, down from Rs 4,722.75 crore
in 2018-19. The outlay for the All India Council for Technical Education
(AICTE) is Rs 466 crore, as against Rs 485 crore in 2018-19. The Budget outlay
for the Indian Institutes of Science, Education and Research (IISERs) also saw
a decline in the 2019-20 interim budget to Rs 660 crore from 2018-19’s
allocation of Rs 689 crore.
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POWER
PUBLIC SECTOR UNDERTAKING INVESTMENTS TO DIP 21.87 PER CENT TO RS 44,000 CRORE
IN FY20
The government has reduced the total
investment by seven state-run power firms including NTPC and PowerGrid, by
21.87 per cent to Rs 44,332.81 crore for 2019-20, against the revised estimate
of Rs 56,742.49 crore for the current fiscal. The investment by these public
sector undertakings (PSUs) was budgeted at Rs 54,270.11 crore for the current
financial year, according to the Budget 2019-20 document. According to the
document, the highest cut of 47.34 per cent in the investment has been done for
Power Grid Corporation to Rs 15,000 crore for 2019-20, compared with the Rs
28,487.53 revised estimates for this fiscal. The investment by the company was
budgeted at Rs 25,000 crore for this fiscal in the previous Budget. In the case
of NTPC, the investment for 2019-20 has also been reduce to Rs 20,000 crore
from Rs 22,300 crore for this fiscal. The investment for the current fiscal was
not revised. According to the Budget, North Eastern Electric Power Corporation
will invest Rs 684 crore in the next fiscal, compared with the revised estimate
of Rs 61 crore for this fiscal. The investments by the company was budgeted at
Rs 389.24 crore for this fiscal. According to Budget 2019-20, the total
expenditure of the power ministry has also been pegged higher at Rs 22,322.27
for the next fiscal, compared with the revised estimate of Rs 20,062.19 crore
for this fiscal. It was budgeted at Rs 15,769.92 for 2018-19 in the previous
Budget.
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INTERIM
BUDGET 2019: PETROLEUM SUBSIDY RAISED BY 51% TO RS 37,478 CRORE
Piyush Goyal has projected the government's
outgo on petroleum subsidies during the financial year to be Rs 37,478 crore,
compared with the Rs 24,932.80 crore estimated in last Union Budget. The
estimates for 2018-19 were marginally lowered in the revised estimates for the
year to Rs 24,833.18 crore. when compared with 2018-19 (RE), the projection for
the coming financial year are 51 per cent higher.
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BUDGET
2019 A POSITIVE FOR STEEL SECTOR, ALTHOUGH HIGH INTEREST BURDEN A WORRY: SESHAGIRI
RAO
Enhancing liquidity in the hands of the rural
consumers as well as the middle-income earning group is likely to have a
positive ripple effect on the demand for steel, Seshagiri Rao, said.
Additionally, increased investment expenditure and sops doled out for the real
estate sector is also likely to push up construction activities, benefit
steelmakers, said Rao. However, Rao added that higher interest burden that will
come from debt-funded expenditure assuming tax buoyancy will pose the question
of reducing the burden to make the money available for redistribution. Also,
overall capital expenditure programme on railways is also pegged at Rs 1,58,658
crore, pushing up the demand for steel.
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ENVIRONMENT
MINISTRY GETS RS 3,111 CRORE IN BUDGET -- A 20 PER CENT INCREASE
The government Friday increased the budgetary
allocation for the Environment Ministry by 20.27 per cent to Rs 3,111.20 crore
as it presented the interim budget for 2019-20. In the last fiscal, the ministry
was allocated Rs 2,586.67 crore. The current fiscal's allocation of Rs 350
crore for Project Tiger, an initiative for conserving the wildcats, and Rs 30
crore for Project Elephant, which was launched to conserve the jumbos across
the country, remain unchanged for 2019-20. However, the Centre decreased the
allocation for pollution abatement by 50 per cent from Rs 20 crore last year to
Rs 10 crore for 2019-20.
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MAHARASHTRA
CM HAILS BUDGET, OPPOSITION CALLS IT MERE 'JUMLA' & 'LOLLIPOP'
Maharashtra Chief Minister Devendra Fadnavis
Friday welcomed the pro-poor, pro-farmer and pro-common man interim Union
Budget 2019-20, which the Opposition denounced as a mere gimmick ahead of the
Lok Sabha polls. The Congress dubbed the budget as the BJP's jumlebaz (filled
with gimmicks) manifesto for the polls, while the NCP termed it as a lollipop. Attacking
the government for not announcing farm loan waiver, the opposition parties
alleged that since it had not offered anything to the people in its previous
budgets, it has now made populist announcements to assuage prevailing dissent
among the public. Radhakrishna Vikhe-Patil claimed that the announcements the
government had made in its previous five budgets were yet to become a reality.
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TO
PROVIDE AN ASSURED INCOME SUPPORT TO SMALL AND MARGINAL FARMERS
Agriculture continues to be the main driver
of the rural economy. Our hard-working farmers, supported by pro-farmer
policies of our Government in the past four and half years, have produced
agriculture commodities in record quantities Declining prices of agricultural
commodities in the international market and fall in food inflation in India
since 2017-18, relative to non-food sector, have however, reduced the returns
from farming. Small and fragmented land holding on account of repeated
divisions has also contributed in decline in the income of the farmer family. Hence,
there is a need for providing structured income support to the poor land-holder
farmer families in the country for procuring inputs such as seeds, fertilizers,
equipment, labour etc. and to meet other needs. Such support will help them in
avoiding indebtedness as well and falling into clutches of money lenders. To
provide an assured income support to the small and marginal farmers, Government
is launching a historic programme namely Pradhan Mantri Kisan Samman Nidhi
(PM-KISAN). Under this programme, vulnerable landholding farmer families,
having cultivable land upto 2 hectares, will be provided direct income support
at the rate of Rs 6,000 per year. This income support will be transferred
directly into the bank accounts of beneficiary farmers, in three equal
installments of Rs 2,000 each. This programme will be funded by Government of
India. Around 12 crore small and marginal farmer families are expected to
benefit from this. The programme would be made effective from 1st December 2018
and the first installment for the period upto 31st March 2019 would be paid
during this year itself. This programme will entail an annual expenditure of Rs
75,000 crore. The Budgetary allocation of the Agriculture and Farmers’ Welfare
Ministry has been raised by around 2.5 times from Rs 58,358 crore in 2018-19 to
Rs 1,41,174.37 crore in 2019-20. Comparing five year period, during UPA
government (2009-14), it was Rs 1,21,082 crore and during Modi government
(2014-19), it is an increase of 74.5% to Rs 2,11,694 crore. In fact, the
budgetary allocation of Rs 1,41,174.37 crore in 2019-20 is 16.6% more than Rs
1,21,082 crore during UPA (2009-14).
MICRO
IRRIGATION FUND – RS 5000 CRORE
·
Dairy Processing & Infrastructure Development
Fund (DIDF) – Rs 10,881 crore
·
Agri-Market Infrastructure Fund – Rs 2000 crore
·
Fisheries and Aquaculture Infrastructure
Development Fund (FIDF) – Rs 7522.48 crore
·
Animal Husbandry Infrastructure Development Fund
(AHIDF) – Rs 2477.52 crore
Rashtriya Gokul Mission has been started for
the first time in the country by Modi Government to promote the country's
cattle and buffaloes to preserve their genetic resources in scientific and
holistic form and for continuous growth in the productivity of Indian bovine.
Considering its importance, Rs 250 crore allocations for it in Budget 2018-19
have been raised to Rs 750 crore. The Rashtriya Kamdhenu Aayog has been
established to upscale sustainable genetic up-gradation of cow resources and to
enhance production and productivity of cows. The Aayog will also look after
effective implementation of laws and welfare schemes for cows. Besides advising
Gaushala and gausadan involved in protecting cows, the body will also help in
coordination between livestock farmers and cooperatives, FPOs, dairy
entrepreneurs etc. India is the second largest fish producing nation in the
world accounting for 6.3% of global production. The fisheries sector
contributes 1% to GDP and provides livelihood to about 1.45 crore people at the
primary level. The sector registered an average annual growth of more than 7%
in recent years and the total production during 2017-18 was 12.61 million tonnes.
During 2017-18, the revenue from exports was estimated at Rs 45,106.89 crores,
which shows an average annual growth rate of approximately 11.31% in recent
years. To provide sustained and focused attention towards development of this
sector, Government has decided to create a separate Department of Fisheries. Through
Kisan Credit Card, the government provides institutional credit at cheap rates
to farmers. This not only helps in increasing agricultural production but also
productivity. In the interest subvention scheme, farmers are given short-term
loan up to Rs 3 lakh per annum by banks on timely payment of loan at the rate
of 4%. In the last Budget, our Government announced the facility of extension
of Kisan Credit Card scheme (KCC) to Animal Husbandry and Fisheries farmers. 2%
interest subvention to the farmers pursuing the activities of animal husbandry
and fisheries, who avail loan through Kisan Credit Card will be provided.
Further, in case of timely repayment of loan, they will also get an additional
3% interest subvention. Presently, the crop loans are rescheduled for such
affected farmers and they get benefit of interest subvention of 2% only for the
first year of the rescheduled loan. Now, all farmers affected by severe natural
calamities, where assistance is provided from National Disaster Relief Fund
(NDRF), will be provided the benefit of interest subvention of 2% and prompt
repayment incentive of 3% for the entire period of reschedulement of their
loans. To ensure provision of easy and concessional credit and to bring all
farmers under KCC fold, Government has decided to initiate a comprehensive
drive with a simplified application form.
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RTI ACT
REDUCED TO A JOKE, DELHI UNIVERSITY TELLS HC ON PIL SEEKING RECORDS
The Right To Information (RTI) Act has been
reduced to a joke Delhi University told the Delhi High Court Thursday, during
the hearing of a plea challenging a Central Information Commission direction to
allow an inspection of the varsity’s records of students who had passed the BA
examination in 1978. Tushar Mehta, appearing for DU, contended before Justice A
J Bhambhani: The RTI Act has been reduced to a joke with such queries (seeking
records of all students who had passed BA examination in 1978, including that
of Prime Minister Narendra Modi). Degrees of two public functionaries were
sought. One is the Honourable Prime Minister and the other is a minister. The
SG said as per the Act, personal information is never to be given unless there
is some public interest, and the degrees were already in public domain on
different forums. The CIC had directed DU to allow inspection of records of all
students who had passed examinations for the BA degree in 1978, the year in
which, as per the varsity, Prime Minister Modi had also cleared the
examination.
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NGT
ORDERS UP GOVT TO SUBMIT 25 CRORE FOR FAILURE TO CURB POLLUTION IN AGRA
Major pollution is being caused in the Yamuna
at Agra by dumping of garbage and sewage, the National Green Tribunal has said
and directed the Uttar Pradesh government to furnish a performance guarantee of
Rs 25 crore for its failure in discharging its duties. Solid waste is being
burnt in open on the roads at Agra cantonment railway station, heaps of uncleared
garbage lying unattended and chocked drains are creating flood like situation,
the NGT noted. It said 50 per cent of sewerage system was not in working
condition, untreated sewage was being dumped into the open drains and the
drainage system was 55 years old. The tribunal directed the UP chief secretary
to be present before it on March 12.
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FARMERS’
RALLY PARALYSES DELHI-NOIDA TRAFFIC, DND SHUT
Traffic between Delhi and Noida was severely
affected as the Delhi Noida Direct Flyway (DND) remained shut due to a rally
organised by a farmers’ group Friday. There could be diversions made on the
route as per requirement, the Noida Traffic Police said in a statement. People
are advised to use alternate roads via Mayur Vihar and Kalindi Kunj for
movement between Noida and Delhi to avoid inconvenience Delhi Traffic Police
said in an advisory. The Delhi Traffic Police have also cautioned the people
against using the Delhi-Noida-Direct (DND) route, stating that traffic movement
will be impacted around 2.00 pm on Friday due to the rally. Due to the proposed
rally by farmers traffic from Noida via DND is likely to be affected after 2.00
pm, Alok Kumar Joint CP, (traffic).
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
RESCUED
OVER 600 MINORS FROM CHILD LABOUR IN 2018-19, AAP GOVT TELLS HC
The AAP government told the Delhi High Court
Friday that it rescued over 600 minors from child labour during 2018-19 and
recovered over Rs 30 lakh as rehabilitation amount and minimum wages, from
their employers. The data was placed before a bench of Chief Justice Rajendra
Menon and Justice V K Rao by the Delhi government in response to an application
by NGO ‘Bachpan Bachao Andolan’ (BBA) and associate organisation ‘Save the
Childhood Foundation’ seeking implementation of the court’s 2009 judgement to
prevent and eliminate child labour. The government said it has also recovered
Rs 10,60,000, towards rehabilitation amount in respect of children below 14
years of age, and Rs 20,69,563 as minimum wages from their employers. Apart
from that 63 cases of child/bonded labour were registered and 43 employers were
also arrested, the government has said in its report.Senior advocate H S
Phoolka, appearing for the NGOs, said a lot more needs to be done by the Delhi
government and the police to ensure proper implementation of the high court’s
2009 direction.
#For Source of Information copy and paste the heading in google.
Thanks & Regards,
CS Meetesh Shiroya
Thanks & Regards,
CS Meetesh Shiroya
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