Modi said the newly-sworn in government took four major decisions related to farmers' and traders welfare in the first meeting of the Union Cabinet.
To make possible discretionary spending including capex and that on welfare, the government decided to borrow more than planned in FY21 -- Rs 12.7 trillion.
The beneficiaries of the second set of announcements are expected to be micro, small, and medium enterprises, farmers, women, poor, migrant workers, and other marginalised sections of the society, reports Arup Roychoudhury.
The decision to scrap the plan for landless workers and focus only on small and marginal farmers was made as there was no proper method to find out who qualify as landless labourers.
Finance secretary Ajay Bhushan Pandey on Sunday hinted that the government was working on another stimulus package but he refrained from giving a timeframe.
When the BJP forms government in Bengal, the chief minister will be a son of the soil, he said at the rally amid loud cheers from his supporters.
The centre pays only an insulting Rs 200 per pensioner each month at a tight-fisted 0.04 per cent of GDP, among the lowest in the world. Instead, as illustrated by Jean Drze, one option is for NYAY to provide individual rather than household entitlements to all pensioners of at least Rs 1200 per month.
The prime minister also asked senior ministers to hand-hold the new incumbents, sources said after the meeting.
Winning an election may be a breeze for the BJP but the aftermath of victory isn't always painless.
Free provision of food, cash transfers, and jobs in villages see enhanced flow of funds despite a precipitous fall in revenue. Till May, defence spend was nearly 30 per cent less than the previous year.
The minister, in an eight-page open letter to farmers, said the Modi-government was committed to their welfare and stressed that the new legislations were aimed at benefitting small and marginal farmers.
'The Congress's arrogance and unrealistic claims have weakened the anti-BJP movement at the national level.'
The government's largesse was widely expected after the ruling Bharatiya Janata Party lost power in the recent assembly polls in three Hindi heartland states, where rural distress was cited to be one of the reasons for the defeat of the saffron party.
Robust procurement of paddy and wheat since 2017 and prompt payment to farmers have helped the UP government cultivate a positive and pro-farmer perception, defusing possible farm face-off situations.
Tuesday's meeting at the PM's residence, attended by all the five secretaries in the finance ministry besides top officials of other economic ministries and NITI Aayog, cleared a five-year vision plan for the government to make India a $5-trillion economy by 2024.
The government last fiscal missed its direct tax collection target, and for this financial year it has set a higher revenue mobilisation goal of Rs 13.80 lakh crore.
There could be multiple measures announced in quick succession, not only by the finance minister but also other ministers regarding their respective sectors, and by the Reserve Bank of India. The total size of these announcements could rival that of other G-20 nations as a percentage of GDP.
Budget-makers in North Block are looking to maintain this fiscal status quo, in spite of tax revenues nowhere close to where the government wants and in spite of possible higher expenditure commitments.
Modi, while addressing the 150th anniversary programme of Kolkata Port Trust, invoked Mookerjee and B R Ambedkar and said their contributions had led to the development of the country post Independence, but suggestions made by them were not implemented after they resigned from the government.
Thank you, Mr Prime Minister, for bringing colour to our colourless, drab, despair-ridden lives.
A pick-up in farmer income could have a cascading impact on the rural economy, though agriculture is becoming a smaller part of India's overall rural incomes.
Experts say a large part of the expenditure in April was spent on heads such as creating infrastructure for testing capacity and procuring testing kits, among other things.
'Mamata is synonymous with Bengal, its culture, language, traditions.'
The budget will empower the poor, give a boost to the farmer and an impetus to the economic growth, the PM said.
Sources said much has been done to ease the tax burden of the middle classes in the last five years, and that such a measure affects only a limited segment of people when the focus should be to put money in rural areas. Archis Mohan reports.
'They have a voracious appetite.' 'But there are many places where they go and they lose.'
Shah, who held a closed door meeting to take stock of the party organisation, said he could 'sense massive public anger' against the Mamata Banerjee-led TMC government in the state and gave a call to 'uproot' it in the state polls.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
Dissatisfaction with the state leadership, along with caste and sectarian factors and economic issues -- particularly those relating to jobs and rural distress cost the BJP.
Nirmala Sitharaman's maiden Budget has not disappointed but vision and details, particularly for the revival of agriculture, are missing.
NITI Aayog has been working on an action plan to relieve rural distress and energise the agricultural sector
The number of active COVID-19 cases stands at 9,272 and as many as 1,189 people have been cured and discharged, and one has migrated, it said.
'The road ahead for the government's fiscal management will be full of many new challenges,' warns A K Bhattacharya.
'Painting opponents as the enemy of the State, using fake news, making wild allegations about rival parties, curtailing civil liberties and challenging the Constitution itself are worrying developments.'
These dedicated COVID-19 facilities will have a capacity of 1,06,719 isolation beds and 12,024 ICU beds reserved for such patients in the country.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
Another bill related to the farm sector, the Essential Commodities (Amendment) Bill, was passed on Tuesday.
The Congress leader said a 'storm' was brewing on the economic front that will cause damage and hurt many.
'We might have lacked somewhere but our commitment was absolute. We might have made mistakes and fallen short to some extent. We might not have done something but what did you do'
There will be pressure on the fiscal situation, especially at a time when the monsoon can also disappoint. More populist expenditure is on cards if the mandate is a hung Parliament or a coalition government.
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