HIGHLIGHTS
OF INTERIM BUDGET 2019-20
The key highlights of the Interim Budget
2019-20 presented by the Union Minister for Finance, Corporate Affairs,
Railways & Coal, Shri Piyush Goyal in Parliament today are as follows:
NEW
ANNOUNCEMENTS
FARMERS
·
12 crore small and marginal farmers to be provided
with assured yearly income of Rs. 6000 per annum under PM-KISAN
·
Outlay of Rs. 75,000 crore for FY 2019-20 with
additional Rs. 20,000 crore in RE 2018-19
·
Outlay for Rashtriya Gokul mission increased to Rs
750 crore
·
Rashtriya Kamdhenu Ayog to be setup for sustainable genetic
up-gradation of the Cow resources
·
New separate Department of Fisheries for welfare
of 1.5 crore fishermen
·
2% interest subvention to Farmers for Animal
husbandry and Fisheries activities; additional 3% in case of timely repayment.
·
Interest subvention of 2% during disaster will now
be provided for the entire period of reschedulement of loan
LABOUR
·
Pradhan Mantri Shram Yogi Maandhan scheme to
ensure fixed monthly pension to 10 crore unorganized sector workers
·
Rs 3000 per month after 60 years of age with an
affordable contribution of only Rs 100/55 per month
HEALTH
·
22nd AIIMS to be setup in Haryana
MGNREGA
·
Rs. 60, 000 crore allocation for MGNREGA in BE
2019-20
DIRECT
TAX PROPOSALS
· Income upto Rs. 5 lakh exempted from Income
Tax
· More than Rs. 23,000 crore tax relief to 3
crore middle class taxpayers
· Standard Deduction to be raised to Rs.
50,000 from Rs. 40,000
· TDS threshold to be raised from Rs. 10,000
to Rs. 40,000 on interest earned on bank/post office deposits
· Existing rates of income tax to continue
· Tax exempted on notional rent on a second
self-occupied house
· HOUSING
AND REAL ESTATE SECTOR TO GET BOOST
·
TDS threshold for deduction of tax on rent to be
increased from Rs. 1,80,000 to Rs. 2,40,000
·
Benefit of rollover of capital gains increased
from investment in one residential house to two residential houses for capital
gains up to Rs. 2 crore.
·
Tax benefits for affordable housing extended till
31st March, 2020 under Section 80-IBA of Income Tax Act
·
Tax exemption period on notional rent, on unsold
inventories, extended from one year to two years
FISCAL
PROGRAMME
·
Fiscal deficit pegged at 3.4% of GDP for 2019-20
·
Target of 3% of fiscal deficit to be achieved by
2020-21.
·
Fiscal deficit brought down to 3.4% in 2018-19 RE
from almost 6% seven years ago
· Total expenditure increased by over 13% to
Rs.27,84,200 crore in 2019-20 BE
· Capital Expenditure for 2019-20 BE
estimated at Rs. 3,36,292 crore
· Centrally Sponsored Schemes (CSS)
allocation increased to Rs. 3,27,679 crore in BE 2019-20
· National Education Mission allocation
increased by about 20% to Rs. 38,572 crore in BE 2019-20
· Allocation for Integrated Child Development
Scheme (ICDS) increased by over 18% to Rs. 27,584 crore in BE 2019-20
· Substantial increase in allocation for the
Scheduled Castes and Scheduled Tribes
·
Allocation for SCs increased by 35.6% - from Rs.
56,619 crore in BE 2018-19 to Rs. 76,801 crore in BE for 2019-20
·
Allocation for the STs increased by 28% - from
39,135 crore in BE 2018-19 to Rs. 50,086 crore in 2019-20 BE
·
Government confident of achieving the
disinvestment target of 80,000 crore
·
Focus now on debt consolidation along with fiscal
deficit consolidation programme
POOR AND
BACKWARD CLASSES
·
“First right on the resources of country is that
of the poor” FM
·
25% additional seats in educational institutions
to meet the 10% reservation for the poor
·
Targeted expenditure to bridge urban-rural divide
& to improve quality of life in villages
·
All willing households to be provided electricity
connections by March 2019
NORTH
EAST
·
Allocation to be increased by 21% to Rs. 58,166
crore in 2019-20 BE over 2018-19 BE
·
Arunachal Pradesh came on the air map recently
·
Meghalaya, Tripura and Mizoram came on India’s
rail map for the first time
·
Container cargo movement through improved
navigation capacity of the Brahmaputra
VULNERABLE
SECTIONS
·
A new committee under NITI Ayog to identify all
the remaining De-notified nomadic and semi-Nomadic tribes.
·
New Welfare development Board under Ministry of
social justice and empowerment for development and welfare of De-notified
nomadic and semi nomadic tribes
DEFENCE
·
Defence budget to cross Rs 3,00,000 crore for the
first time ever
RAILWAYS
·
Capital support of Rs.64,587 crore proposed in
2019-20 (BE) from the budget
·
Overall capital expenditure programme to be of Rs.
1,58,658 crore
·
Operating Ratio expected to improve from 98.4% in
2017-18 to 96.2% in 2018-19 (RE) and
·
to 95% in 2019- 20 (BE)
ENTERTAINMENT INDUSTRY
·
Indian filmmakers
to get access to Single window clearance as well for ease of shooting
films
·
Regulatory provisions to rely more on
self-declaration
·
To introduce anti-camcording provisions in the
Cinematograph Act to control piracy
MSME AND
TRADERS
·
2% interest subvention on an incremental loan
of Rs 1 crore for GST registered SMEs
·
Atleast 3% of the 25% sourcing for the Government
undertakings will be from women owned SMEs
·
Renewed Focus on Internal trade ; DIPP renamed to
Department for Promotion of Industries and Internal trade
DIGITAL
VILLAGES
·
The Government to make 1 lakh villages into
Digital Villages over next five years
OTHER
ANNOUNCEMENT(S)
·
New National Artificial Intelligence portal to
support National Program on Artificial Intelligence
Achievements during 2014-19
STATE OF
THE ECONOMY
·
India universally recognized as a bright spot of
the global economy during last five years
·
“Country witnessed its best phase of
macro-economic stability during 2014-19”, says FM
·
India is now the 6th largest economy in the world
from being the 11thlargest in 2013-14
·
Annual average GDP growth during 2014-19 higher
than any government since 1991
·
Government has broken inflation’s back from
backbreaking inflation during 2009-14: FM
·
Average inflation down to 4.6%, lower than during
any other Government
·
Inflation in December 2018 down to 2.19% only
·
Fiscal deficit down to 3.4% in 2018-19 RE from the
high of almost 6% seven years ago
·
CAD likely to be only 2.5% of GDP this year
against a high of 5.6% six years ago
·
India attracted massive amount of FDI, worth $239
billion, during the last 5 years
·
India is solidly back on track and marching
towards growth and prosperity, says FM
·
India becomes the fastest growing major economy in
the world
·
Double-digit inflation contained and fiscal
balance restored
·
Liberalization of FDI policy, allowing most FDI to
come through the automatic route
FARMERS
·
Assured MSP of minimum 50% to all 22 crops
·
Interest subvention doubled in last 5 years
·
Soil Health card, Neem coated Urea game changer in
farm sector
LABOR
·
Employment opportunities expanded ; EPFO
membership increased by 2 crore
·
Minimum income for every category of workers
increased by 42% in last 5 years
POOR AND
BACKWARD CLASSES
·
10% reservation for the poor in educational institutions and government
jobs
·
Free electricity connection to every household
under Saubhagya Yojana
·
World’s largest healthcare programme, Ayushman
Bharat, for nearly 50 crore people
·
Aspirational Districts Programme for development
in 115 most backward districts
·
Rs. 1,70,000 crore spent during 2018-19 for
cheaper food grains to poor and middle class
·
143 crore LED bulbs provided in mission mode with
the cooperation of private sector
·
Poor & middle class are saving Rs. 50, 000
crore p.a. in electricity bills due to LED bulbs
·
10 lakh patients benefited from free treatment
under Ayushman Bharat
·
Jan Aushadhi Kendras providing medicines at
affordable prices to poor and middle class
·
14 out of 21 AIIIMS operating presently have been
announced since 2014
·
Government tripled rural roads’ construction under
the PMGSY
·
15.80 lakh habitations out of 17.84 lakh connected
with pucca roads
·
Rs. 19,000 crore for PMGSY in BE 2019-20 against
Rs. 15,500 crore in RE 2018-19
·
1.53 crore houses built under PM Awas Yojana
during the 2014-18
WOMEN
DEVELOPMENT TO WOMEN LED DEVELOPMENT
·
6 crore free LPG gas connections provided under
Ujjwala Yojna ; All 8 crore by next year
·
70% of MUDRA Loan availed by Women
·
Maternity leave extended to 26 weeks
·
Financial support for pregnant women under Pradhan
Mantri Matru Vandana
YOUTH
·
Over one crore youth trained under Pradhan Mantri
Kaushal Vikash Yojana
·
Self-employment boost through MUDRA, STAND-UP and
START-UP India
MSME AND
TRADERS
·
Up-to Rs 1 crore loans can be availed in less than
an hour
·
25%-28% is the average savings due to GeM
(Government e-Market place)
INCOME
TAX
·
Tax collections nearly doubled in five years- from
Rs. 6.38 Lakh crore in 2013-14 to almost Rs. 12 lakh crore this year
·
80% growth in tax base- from 3.79 crore to 6.85
crore in five years
·
Tax administration streamlined- Last year, 99.54%
of the income-tax returns accepted as were filed
·
Technology intensive project approved to improve
assessee friendliness –In two years, returns to be processed in 24 hours and
refunds issued simultaneously
·
Earlier benefits given to middle class-
·
Basic exemption limit increased from Rs. 2 lakh to
Rs. 2.5 lakh
·
Tax rate reduced from 10% to 5% for the tax slab
of Rs. 2.5 lakh to Rs. 5 lakh
·
Standard deduction of Rs. 40,000 introduced for
the salaried class
·
Deduction of savings under section 80C increased
from Rs. 1 lakh to Rs. 1.5 lakh
·
Deduction of interest for self-occupied house
property raised from Rs. 1.5 lakh to Rs. 2 lakh
·
Special benefits and incentives already given to
small businesses and startups-
·
Overall compliance processes simplified.
·
Threshold for presumptive taxation of business
raised from Rs. 1 crore to Rs. 2 crore
·
Benefit of presumptive taxation extended for the
first time to small professionals fixing threshold limit at Rs. 50 lakh
·
Presumptive profit rate reduced from 8% to 6% to
promote a less cash economy
·
Tax rate for about 99% companies reduced to 25%
GST
·
GST made India a common market
·
GST led to increased tax base, higher collections
and ease of trade
·
Inter-state movements now faster, more efficient,
and hassle free
·
Responsive and sensitive reduction of tax rates -
Most items of daily use now in the 0% or 5% tax slab
·
Relieving the businesses and service providers-
·
Exemptions from GST for small businesses doubled
from Rs. 20 lakh to Rs. 40 lakh
·
Small businesses having turnover up to Rs. 1.5
crore pay only 1% flat rate and file one annual return only
·
Small service providers with turnover upto Rs.50
lakhs can opt for composition scheme and pay GST at 6% instead of 18%
·
Soon, businesses comprising over 90% of GST payers
to be allowed to file quarterly return
·
Encouraging GST revenue trends - The average
monthly tax collection in the current year is Rs. 97,100 crore per month as
compared to Rs. 89,700 crore per month in the first year
INFRASTRUCTURE
·
Civil Aviation – UDAN Scheme
·
Number of Operational Airports crossed 100
·
Latest: Pakyong airport in Sikkim
·
Domestic Passenger traffic doubled in last 5 years
ROADS
·
India is the fastest highway developer in the
world
·
27 kms of highways built each day
·
Stuck projects completed - Eastern Peripheral
Highway around Delhi- Bogibeel rail-cum-road bridge in Assam and Arunachal
Pradesh
WATERWAYS
·
Flagship programme of Sagarmala along the coastal
areas
·
For first time, container freight movement started
on Kolkata to Varanasi inland waterways
RAILWAYS
·
‘Safest year’ for railways in its history
·
All Unmanned Level Crossings on broad gauge
network eliminated.
·
Semi high-speed "Vande Bharat Express"
introduced - first indigenously developed and manufactured
CLIMATE
CHANGE
·
International Solar Alliance
·
To promote renewable energy
·
First treaty based international
inter-governmental organisation headquartered in India
·
Installed solar generation capacity grown over ten
times in last five years
·
Now creating lakhs of new age jobs
DIGITAL
INDIA REVOLUTION
·
More than 3 lakh Common Service Centres (CSCs)
exist to deliver services to the citizens
·
India now leading the world in the consumption of
mobile data
·
Monthly consumption of mobile data increased by
over 50 times in the last five years
·
Under Make in India, mobile and parts
manufacturing companies increased from 2 to more than 268 providing huge job
opportunities
JAN
DHAN-AADHAAR-MOBILE (JAM) AND DIRECT BENEFIT TRANSFER
·
In the last five years, nearly 34 crore Jan Dhan
bank accounts opened Aadhaar now near universally implemented
·
Ensure the poor and middle class receive the
benefits of Government schemes directly in their bank accounts by eliminating
middlemen
CUSTOMS
AND TRADING ACROSS BORDERS
·
Customs duties on 36 capital goods abolished
·
Digitization of import and export transactions
·
RFID technology to improve logistics
STEPS
AGAINST CORRUPTION
·
Government walked the talk on corruption and
ushered in a new era of transparency: FM
·
RERA and Benami Transaction (Prohibition) Act have
brought transparency in real estate
·
The Fugitive Economic Offenders Act, 2018 to help
confiscate economic offenders
·
Government conducted transparent auction of
natural resources such as coal & spectrum
DRIVE
AGAINST BLACK MONEY
·
Undisclosed income of about Rs 1,30,000 crore
brought under tax through initiatives like Black money Law, Fugitive Criminal offenders Act,
Demonetisation etc.
·
Benami assets worth Rs 6,900 crore have been
attached
·
18% growth in Direct tax
BANKING
REFORMS AND INSOLVENCY AND BANKRUPTCY CODE (IBC)
·
The IBC has institutionalized a
resolution-friendly mechanism
·
Government has stopped the culture of “phone
banking”: FM
·
Government adopted 4Rs approach of recognition,
resolution, re-capitalization & reforms
·
Government has implemented measures to ensure
‘Clean Banking’
·
Government has already recovered Rs. 3 lakh crore
in favor of banks and creditors
·
Government has invested Rs. 2.6 lakh crore for
recapitalization of public sector banks
CLEANLINESS
·
Government launched Swachh Bharat Mission as a
tribute to 150 years of Gandhi Ji
·
FM thanks 130 crore Indians for translating Swachh
Bharat into a national revolution
·
India has achieved 98% rural sanitation coverage
·
5.45 lakh villages have been declared "Open
Defecation Free”
·
Defence
·
OROP under implementation in full spirit with Rs
35,000 crore already disbursed
·
Military pay service hiked
OTHER
ACHIEVEMENTS
·
Government put a stop to questionable practices of
hiding high NPAs
·
Swachh Bharat Mission as the world’s largest
behavioral change movement
KEY
MESSAGE IN THE INTERIM BUDGET 2019-20
·
Moving towards realizing a ‘New India’ by 2022 -
·
Clean and healthy India with universal access to
toilets, water and electricity to all
·
An India where Farmers’ income would have doubled
·
Ample opportunities to youth and women to fulfil
their dreams
·
An India free from terrorism, communalism,
casteism, corruption and nepotism
VISION
FOR THE NEXT DECADE
·
Foundation for India’s growth and development laid
in the past 5 years
·
Poised to become a Five Trillion Dollar Economy in
the next five years
·
Aspire to become a Ten Trillion Dollar Economy in
the next 8 years thereafter
TEN
DIMENSIONS OF VISION FOR INDIA OF 2030
·
India would be a modern, technology driven, high
growth, equitable and transparent society
·
To build physical as well as social infrastructure
and to provide ease of living
·
To create a Digital India, digitize government
processes with leaders from youth
·
Making India pollution free by leading transport
revolution with Electric Vehicles and focus on Renewables
·
Expanding rural industrialisation using modern
digital technologies to generate massive employment
·
Clean Rivers, safe drinking water to all Indians
and efficient use of water through micro-irrigation
·
Besides scaling up of Sagarmala, Coastline and
Ocean waters powering India’s development and growth
·
Aim at our space programme – Gaganyaan, India
becoming the launch-pad of satellites for the World and placing an Indian
astronaut into space by 2022
·
Making India self-sufficient in food, exporting to
the world to meet their food needs and producing food in the most organic way
·
A healthy India via Ayushman Bharat with women
having equal rights and concern for their safety and empowerment
·
Transforming India into a Minimum Government
Maximum Governance nation with pro-active and responsible bureaucracy
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GST
COLLECTIONS TOP RS 1 LAKH CR IN JANUARY
GST collections in January crossed Rs 1 lakh
crore-mark after a gap of 2 months, the Finance Ministry said on Thursday. The
total gross GST Revenue collected in the month of January, 2019 has crossed Rs
1 lakh crore. This has been a significant improvement over collection of Rs
94,725 crore during last month and Rs 89,825 crore during the same month last
year, the ministry tweeted. This is the third time in current fiscal that GST
(Goods and Services Tax) collections has crossed the Rs one lakh crore-mark.
Previously in April and October, the collections had surpassed this milestone. This
increase has been achieved despite various Tax Relief measures implemented by
the GST Council to lower the tax burden on the consumers, the ministry said.
Conventionally, GST collection data for a month is released on first day of the
subsequent month. However, for the month of January, the full details of the
revenue mopped-up will be released on February 2.
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LOWER
LOGISTICS COST TO HELP BOOST EXPORTS BY 5-8%: FIEO
Reduction of logistics cost by 10 per cent
will help boost the country’s exports by about 5-8 per cent, exporters body
FIEO said on Thursday. Ganesh Kumar Gupta said that implementation of the Goods
and Services Tax (GST) has helped growth of the logistics sector which is very
critical in increasing international trade. High logistics cost impacts
competitiveness of domestic goods in the international markets. The cost of
logistics for India is about 14 per cent of its GDP and it is far high as
compared to other countries. It is estimated that a 10 per cent decrease in
indirect logistics cost can increase 5-8 per cent of exports, Gupta told. Gupta
said logistics companies from about 27 countries are participating in the
three-day show in the national capital.
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NO ONE
WHO CHEATS INDIA CAN HIDE ANYWHERE IN THE WORLD: ARUN JAITLEY
Arun Jaitley Thursday said Prime Minister
Narendra Modi has introduced a culture of honesty in governance and no one who
cheats India can hide anywhere in the world and escape. His statement comes
against the backdrop of Dubai-based businessman Rajeev Saxena and corporate
aviation lobbyist Deepak Talwar getting deported to India. They have been
arrested by the Enforcement Directorate. In a series of tweets, Jaitley said
The UPA Skeletons are tumbling out by the day. Why did all Defence purchases
need middlemen?. Saxena is wanted in the Rs 3,600 crore AgustaWestland VVIP
chopper money laundering case while Talwar is wanted by the ED and the CBI in a
case of allegedly misusing over Rs 90 crore taken through foreign funding
route. No one who cheats INDIA can hide anywhere in the world and escape.
INDIA's Diplomatic strength and more civilised International procedures will
get better of him. If the Prime Minister is honest, if he imposes a culture of
honesty in governance, no person who cheats India will escape, Jaitley said.
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CA
PRAFULLA CHAJJED TO BE NEW ICAI CHIEF FROM FEBRUARY AS CA NAVEEN ND GUPTA’S
TENURE EXPIRES
As the term of the current President of the
Institute of Chartered Accountants of India ( ICAI ) will expire on February
the current Vice-President CA. Prafulla Chajjed will take over the reign of the
ICAI for the year 2019-20. ICAI Chief thanked all the persons for their active
support, help, and cooperation. CA Naveen N D Gupta said that I have complete
trust in his leadership and professional acumen and believe strongly that the
profession will prosper and advance beyond all limits. I must congratulate him
in advance and welcome too, to the High Office of Institute. While I know that
the profession will be in safe hands, I am sure it will continue to attain new
heights of success; it is bound to grow under the new Vision. Let me also thank
the Vice-President and all my Central Council colleagues for their active
support, help and cooperation which have eventually contributed in the
furtherance of our professional success. I express my sincere gratitude to all
of them. My thanks and gratitude is also due to my colleagues from Regional
Councils, Branches and overseas Chapters, for being supportive in my entire
professional journey of the Council Year 2018-19 as President and earlier as
Vice- President in the year 2017-18. I thank each of them for reposing trust in
my leadership and governance, and for sharing their opinion during the term. It
wouldn’t be complete if I do not express my sincere gratitude to our great
past-Presidents for their timely intervention and advice whenever I approached,
he added. he further added that Then, in the end, I wish to recall the
contribution made and efforts put in by the employees of the Institute. I must
put this on record and acknowledge that they have put in their best towards the
fulfillment of the vision and agenda of our profession, working always beyond
comfort and working hours, working on leaves, and working even in difficult
situations. With this degree of dedication, I am sure, our profession will
continue to grow its momentum of growth in the future too.
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MALLYA
SAYS VALUE OF ASSETS ATTACHED CROSSED RS 13,000 CR; DEMANDS JUSTICE
Fugitive liquor baron Vijay Mallya Friday
claimed his group's properties worth over Rs 13,000 crore have been attached
more than the 'claimed' Rs 9,000 crore that he "ran away with" asking
where is justice and how far will it go. In a series of tweets, Mallya, who
intends to appeal against a UK court's extradition verdict, also claimed that
the banks to which he owes money "have given an open licence to their
Lawyers in England to pursue multiple frivolous litigations against" him
questioning the "brazen" spending of "public money on legal
fees". "Every morning I wake up to yet another attachment by the DRT
(debt recovery tribunal) recovery officer. Value already crossed (Rs) 13,000
crore Banks claim dues including all interest of (Rs) 9,000 crore which is
subject to review. How far will this go and well beyond? Justified??",
Mallya tweeted. He further said the DRT recovery officer recently attached his
group's assets worth over Rs 13,000 crore in India on behalf of the consortium
of banks. "Yet the narrative is that I ran away with the claimed amount of
(Rs) 9000 crore causing loss to the public sector banks. Where is Justice or
fair play?," he asked. The embattled liquor baron further said
"despite all the attachments in India, banks have given an open licence to
their lawyers in England to pursue multiple frivolous litigations against me.
Who is accountable for spending public money on legal fees in such a brazen
manner?" Mallya also claimed that the banks' lawyers in England have
objected in writing to his paying "my legitimate tax dues to HMRC which I
requested". "Irony is, Indian state banks want my money in England to
settle an Indian debt already secured and deny payment to the UK. tax
exchequer. Disgraceful," he added.
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DON RAVI
PUJARI ‘ARRESTED’ IN SENEGAL
Underworld don Ravi Pujari is reported to
have been arrested in Senegal on Thursday evening. Sources said the Senegal
police acted on a tip-off provided to them by Indian intelligence agencies.
Pujari, who has a Red Corner Notice issued against him by the Interpol, has
been on the run for more than a decade, is wanted in India in a number of
cases, including extortion, threat calls to Bollywood stars and other prominent
personalities. Till 2016, he was hiding in Australia. After that, he had been
travelling to places like Bangkok, Kuala Lumpur and Morocco. At one point,
Pujari was the right hand man of gangster Chhota Rajan but they fell out after
Dawood Ibrahim attacked Rajan in Bangkok.
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FCRA
VIOLATION CASE: DELHI COURT GRANTS ED 7 DAY CUSTODY OF DEEPAK TALWAR
A Delhi court on Thursday granted the Enforcement
Directorate (ED) seven days custody of alleged lobbyist Deepak Talwar in a
money laundering case. Talwar was produced before special judge S S Mann. The
agency had sought 14 days custody of the corporate aviation lobbyist, who was
picked up by Dubai authorities early Wednesday and deported, along with
Dubai-based businessman Rajeev Saxena, to India in the evening. Talwar is
wanted by the ED and the CBI in a case of misusing over Rs 90 crore taken
through the foreign funding route as part of corporate social responsibility
(CSR). He has been charged with criminal conspiracy, forgery and under various
other sections of the FCRA for allegedly diverting Rs 90.72 crore worth of
foreign funds meant for ambulances and other articles received by his NGO from
Europe's leading missile manufacturing company.
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VVIP
CHOPPER SCAM: RAJEEV SAXENA SENT TO 4 DAYS OF ED REMAND
Enforcement Directorate (ED) on Thursday
produced Rajeev Saxena, Dubai-based businessman wanted in VVIP choppers case,
before a Delhi court. Saxena is being produced before Special Judge Arvind
Kumar. He was sent to 4 days of ED remand by Delhi's Patiala House Court.
Rajeev Shamsher Bahadur Saxena, was picked up by Dubai authorities early Wednesday
in connection with the Rs 3,600 crore AgustaWestland VVIP choppers money
laundering case and deported to India last evening. They said Rajeev Shamsher
Bahadur Saxena wanted in the Rs 3,600 crore AgustaWestland VVIP choppers money
laundering case and lobbyist Deepak Talwar, wanted by the ED and the CBI in a
case of allegedly misusing over Rs 90 crore taken through the foreign funding
route, were brought in a special plane from Dubai to Delhi around 1:30 AM.
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ED
CONDUCTS SEARCHES OVER IRREGULARITIES IN MEMORIALS BUILT BY MAYAWATI
Trouble is mounting for political parties in
Uttar Pradesh ahead of the Lok Sabha polls, with the Enforcement Directorate
(ED) now cracking down on Bahujan Samaj Party (BSP) chief Mayawati in a series
of searches across seven locations in the state, including Lucknow. With the
Lok Sabha elections just months away, major opposition party leaders, including
both former chief ministers of Uttar Pradesh, Mayawati and Akhilesh Yadav, have
come under the scanner of investigating agencies in recent months for various
offences and alleged cases of irregularities. Persons familiar with the
developments stated that the probe agency has filed a criminal case under the
Prevention of Money Laundering Act (PMLA) to investigate these instances after
taking cognizance of a state vigilance department complaint dating back to
2014. It was alleged in the vigilance complaint that the constructions resulted
in the loss of over ₹111.44
crore to the exchequer and unlawful gain to public servants and private
individuals. The state government headed by Mayawati had built the memorials,
statues and parks at a cost of over ₹2,600
crore in Lucknow, Noida and a few other places in the state. While the Central
Bureau of Investigation (CBI) is also probing Samajwadi Party chief Akhilesh
Yadav in the illegal mining case, the opposition has alleged that agencies such
as the CBI and ED were being used to selectively target leaders ahead of the
forthcoming Lok Sabha polls.
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CENTRE
ASKS OUSTED CBI CHIEF ALOK VERMA TO JOIN OFFICE A DAY BEFORE RETIREMENT
Two weeks after deposed CBI Director Alok
Verma told the Department of Personnel and Training to consider him retired,
the Ministry of Home Affairs replied to him a day before his superannuation as
Director, asking him to join office as DG, Fire Services, Civil Defence &
Home Guards immediately. The government has sent a letter to Verma saying, You
are directed to join the post of DG, Fire Services, Civil Defence & Home
Guards immediately. The letter from the government means that Verma will have
to join for a day. The reply of the government came days after a request by
Verma to consider his retirement from January 11, a day after he was
transferred from the CBI after the high-powered selection panel led by Prime
Minister Narendra Modi met. Verma had requested for the consideration of his
retirement after attaining the age of superannuation July 31, 2017. He had also
crossed superannuation age for DG Fire Services, Civil Defence & Home
Guards. The former CBI director said, I was only serving the Government as CBI
Director until January 31, 2019, as it was a fixed tenure role. He was moved
out of the probe agency last October on the CVC’s recommendations. The Supreme
Court, however, reinstated to the same post in January. Next day, the selection
committee asked him to join as DG Fire Services, Civil Defence & Home
Guards. While the move was opposed Congress leader Mallikarjun Kharge, PM Modi
was supported by Justice A K Sikri, a nominee of CJI.
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EC
STRESSES ON ELECTORAL ROLLS ACCURACY AS IT REVIEWS POLL PREPAREDNESS IN WEST
BENGAL
In a meeting held to review poll preparedness
in West Bengal Thursday, the Election Commission laid stress on increasing the
accuracy of electoral rolls, officials said. The meeting was held between full
bench of the Commission, district election officials, superintendents of
police, divisional commissioners and other district officials of the state. The
Commission directed officials to launch a special drive to include names of new
voters and strike off names of fake and bogus voters, an official said. It sought
a detailed report about poll-related violence that took place during last
elections in the state and inquired about the number of cases pending since the
last elections were held in the state, an official said. Commission officials
also inquired about reports on recent recovery of arms and ammunition in the
state, the official said. Electoral roll cleansing is on the radar and we have
been asked to ensure that bogus voters are removed from the list. Work on it
will start immediately, the official told.
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DECLARE
WEST BENGAL AS A ‘CRITICAL AND VULNERABLE’ STATE, BJP URGES ECI
The Bharatiya Janta Party has urged the
Election Commission of India to declare West Bengal as a ‘critical and
vulnerable’ state citing the incidents of violence during the Panchayat election
process and also the number of uncontested seats in state during the rural
polls. The ruling party at the centre requested the commission to appoint a
senior IAS officer from outside state as the chief state observer of the ECI to
oversee and supervise the functioning of the CEO, West Bengal and also a senior
IPS officer as the chief police observer to oversee and review the police
deployment by the Director General of Police and respective commissioners. Sayantan
Basu, who was there in the delegation, said that the party submitted all
relevant documents, photographs and CDs to the commission. The party also
raised the issues of ‘political obstruction’ they were facing in organising any
political programme in the state. The party also said that there should be a
‘chief police observer’. A senior IPS officer from out of state be appointed as
chief police observer to oversee and review the police deployment by the DG of
West Bengal, police commissioners or all other police officers on election duty
of any description.
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INDIA
MUST SIGN NON-PROLIFERATION TREATY TO GAIN ENTRY INTO NSG, SAYS CHINA
India must sign the Non-Proliferation Treaty
to gain entry into the Nuclear Suppliers Group, China said Thursday, asserting
that patient negotiations were required for New Delhi’s admission into the
group as there is no precedent for the inclusion of non-NPT countries. China
has been opposing India’s entry into the 48-member Nuclear Suppliers Group
(NSG) on the ground that India is not a signatory to the Non-Proliferation
Treaty (NPT), though the other P5 members, including the US and Russia backed
its case based on New Delhi’s non-proliferation record. China, France, Russia,
Britain and the US – the permanent members of the UNSC also known as P5
countries – have concluded their two meetings here to discuss issues related to
nuclear disarmament, nuclear non-proliferation and peaceful uses of nuclear
energy. Geng Shuang said at the end of the successful conference the member
countries reached an important consensus to jointly uphold the responsibilities
for international peace and security. We will uphold the NPT mechanism. We
underscore its importance as the cornerstone of international non-proliferation
system and also an important component of international security. We promise to
enforce the NPT fully and comprehensively and gradually realise our goal of a
nuclear weapon free world and do our best to solve the nuclear
non-proliferation issues through political and diplomatic means for the
peaceful use of nuclear energy and international cooperation, he said. Asked
whether the issues related to India’s application to enter into the NSG figured
in the meeting, Geng said the P5 countries are committed to uphold the NPT
mechanism, recognise that it is the cornerstone of the international
non-proliferation system. After India applied for the NSG membership, Pakistan
too applied for the same following which China, a close ally of Islamabad,
called for a two-step approach which states that NSG members first need to
arrive at a set of principles for the admission of non-NPT states into the
group and then move forward discussions of specific cases. The NSG is a group
of nuclear supplier countries that seeks to contribute to the non-proliferation
of nuclear weapons through the implementation of guidelines for nuclear and
nuclear-related exports.
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MEHBOOBA
TAKES EXCEPTION TO INDIA CALLING PAK HIGH COMMISSIONER FOR QURESHI DIALLING
MIRWAIZ
PDP president Mehbooba Mufti Thursday said
India's response to a telephonic conversation between Pakistan Foreign Minister
Shah Mehmood Qureshi and separatist leader Mirwaiz Umar Farooq has reduced
between the two countries to the lowest level. A foreign policy dictated by the
compulsions of electoral politics is shockingly pathetic, the former chief
minister of Jammu and Kashmir added. Referring to past engagements between
Pakistani officials and Hurriyat leaders in the state, Mehbooba said it was in
the Atal Bihari Vajpayee-led NDA regime that meetings between separatists and
Pakistani officials were facilitated. Ironically it was the NDA under Vajpayee
ji that facilitated meetings between Hurriyat leaders & Pakistani
dignitaries plus allowing them to visit Pakistan to hold talks with the
establishment including the then president General Musharraf, she said. Vijay
Gokhale Wednesday summoned Pakistan's envoy Sohail Mahmood and categorically
told him that Qureshi's telephonic conversation with Mirwaiz was a brazen
attempt to subvert India's unity and violate its sovereignty and territorial
integrity. The Ministry of External Affairs, in a statement, said the Pakistan
High Commissioner was cautioned that persistence of such behaviour by Islamabad
will have implications. The Pakistan Foreign Office had on Tuesday said Qureshi
spoke with the Hurriyat leader and apprised him of the efforts of the Pakistan
government to highlight the Kashmir issue.
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FED KEEPS
KEY RATE UNCHANGED AND PLEDGES TO BE 'PATIENT'
The Federal Reserve is keeping its key
interest rate unchanged and signaling that it could leave rates alone in coming
months given economic pressures and mild inflation. The Fed also says it's
prepared to slow the reduction of its bond holdings if needed to help the
economy. The central bank said on Wednesday that it plans to be 'patient about
future rate hikes Its benchmark short-term rate will remain in a range of 2.25%
to 2.5% after having been raised four times last year. The Fed's key rate
influences many loan rates for businesses and consumers, including mortgages. The
Fed has been gradually reducing its bond portfolio, a move that has likely
contributed to higher borrowing rates. But at some point, to avoid weakening
the economy, it could slow that process or end it sooner than now envisioned.
Doing so would help keep a lid on loan rates and help support the economy. In
its statement Wednesday, the Fed said, In light of global economic and
financial developments and muted inflation pressures, the committee will be
patient in determining what future adjustments to the Fed's interest-rate
policy will be appropriate. The Fed's decision was approved on a 10-0 vote.
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DONALD
TRUMP TO MAKE SIGNIFICANT ANNOUNCEMENT ON ISIS NEXT WEEK, SAYS MIKE POMPEO
The US President Donald Trump will make a significant
announcement on the status of the fight against the ISIS in Syria during his
State of the Union Address next week, the Secretary of State Mike Pompeo has
said. Donald Trump is scheduled to deliver the State of the Union Address in a
joint session of the US Congress on February 5. The President will make a
significant announcement, I think, in the State of the Union next week with
respect to the status of the caliphate, the real estate, the grounds from which
ISIS had been operating in Syria when this administration came in, Mike Pompeo
told.bMike Pompeo also informed that Donald Trump would host foreign ministers
of the Global Coalition to Defeat the ISIS and have discussions with them. You
remember prisoners in cages, people kneeling on the beaches and being beheaded.
This was tragic. Next week on February 6, he is hosting foreign ministers of
the Global Coalition to Defeat the ISIS for an in-depth discussion on defeating
them, he said. We also know that in spite of the enormous progress we've made
and the success that we've had, that the threat from radical Islamic terrorism
is real and we need to continue to do all that we can to make sure that there's
not a resurgence of ISIS or that all the other variants of that terror regime
continue to be under pressure, he added. Mike Pompeo said that President Donald
Trump will do everything to keep America safe from threats. President Donald
Trump has made clear it is a priority for him, and as the Secretary of State, I
can promise the American people we will continue to do all that we can to keep
them safe from this threat, Pompeo said.
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FOREIGN
SECRETARY: BREXIT MAY HAVE TO BE DELAYED
A key member of Prime Minister Theresa May's
government acknowledged Thursday that Britain's exit from the European Union
may have to be delayed if negotiations on a divorce deal drag on. Foreign
Secretary Jeremy Hunt told that while it is difficult to know whether
negotiations will stretch to the final hours, a delay may be necessary to pass
legislation to implement Brexit. I think it is true that if we ended up
approving a deal in the days before 29 March then we might need some extra time
to pass critical legislation but if we are able to make progress sooner then
that might not be necessary, Hunt said. It is not just the government that
needs to be ready - business and citizens need to know how the changes will
affect them and what they need to do, it said in a report. Investment in the
industry fell 46 percent last year and new car production dropped 9.1 percent
to 1.52 million vehicles in 2018, in part because of concerns over Brexit, the
Society of Motor Manufacturing said. Chief executive Mike Hawes has described
the threat of a no-deal as catastrophic. With fewer than 60 days before we
leave the EU and the risk of crashing out without a deal looking increasingly
real, UK Automotive is on red alert, Hawes said. Brexit is the clear and
present danger and, with thousands of jobs on the line, we urge all parties to
do whatever it takes to save us from 'no deal', Hawes said. If no deal is in
place, existing trade agreements with the EU will evaporate overnight. Without
such agreements, economic chaos is likely to follow, with fears about trade in
food, medicine and other essential supplies. In another sign of the ticking
clock, House of Commons leader Andrea Leadsom said a scheduled February recess
for lawmakers may be scrapped. May must report back to the House of Commons by
February 13, either with a reworked version of the deal or with a statement on
what she plans to do next. She intends to return to Brussels in hopes of
reopening negotiations on the most controversial aspect of the withdrawal deal,
which covers the border between the UK's Northern Ireland and EU member
Ireland.
#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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