Amid the opposition UDF's sloganeering against him, Kerala Governor Arif Mohammed Khan on Friday delivered the customary address to the assembly with the policy document outlining the Left government's administrative achievements and criticising the Centre for allegedly pushing the state to financial constraints by reducing its resource allocations.
The two entities' combined distribution network would comprise 4,182 banking outlets and 476 ATMs across 34 states and Union territories of India, with more than 31,000 employees serving about 15 million customers across the country.
BJP workers depend on Annamalai's popularity to emerge victorious. He has has made 100 promises to be fulfilled in 500 days and assurances include cleaning up rivers, an international airport and food vans named after former Chief Minister K Kamaraj.
'The pace of disbursement and project recommendation picks up as the tenure of the House draws near and usually all amount is released.'
The efforts drew the spontaneous appreciation of Union Finance Minister Nirmala Sitharaman.
The Tamil Nadu government will constitute an 'economic advisory council' to the chief minister comprising Nobel laureates, former Reserve Bank of India governor and other economic experts from around the globe to advise the state on how to reverse the economic slowdown.
As the finance minister rises in the House to present the Budget, some interesting facts about the annual financial plan for the country.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
The Lower House of Parliament took up the Demands for Grants and Appropriation Bills after two adjournments as the ruling and Opposition MPs engaged in a matching duet over demands for an apology by Rahul Gandhi and the Adani issue.
Tourism and Housing & Urban Poverty Alleviation Minister Kumari Selja has welcomed the proposals made in the Union Budget 2010-2011 in tourism and housing & urban poverty alleviation sectors.
The government on Wednesday imposed a limit of Rs 10 crore for deduction on long-term capital gain tax for reinvestment in residential properties under Section 54 and 54F of the Income Tax Act. These two sections deal with reinvestment of proceeds from sale of long-term assets (housing or other capital assets) to buy residential properties. "For better targeting of tax concessions and exemptions, I propose to cap deduction from capital gains on investment in residential houses under sections 54 and 54F to Rs 10 crore," Finance Minister Nirmala Sitharaman said in her Budget speech.
He said Parliament in the past decades has debated a number of government decisions, which had caused tensions and social conflict, but it was now deadlocked by rival parties over a 'constructive decision' like demonetisation.
Speaking during the Question Hour, the road transport and highways minister said the country has set several world records in road construction despite COVID-19. The construction of Zoji La tunnel on the Srinagar-Leh highway will be completed before 2024, while another Z-Morh tunnel will be completed in the next three months, he added.
It is thanks to the policy of liberalisation conceived by Manmohan Singh and enforced by P V Narasimha that the Indian economy has now become the world's 5th largest economy by nominal GDP, asserts Dr Sudhir Bisht.
Amid Covid-19 protocols, here's how the monsoon session looks like.
It was also the shortest speech by Sitharaman, who had delivered the longest speech last year. Her first Budget speech in July 2019 went on for around 137 minutes and in 2020, it went on for more than 160 minutes and was cut short after she felt unwell.
The deficit stood over Rs 8 trillion in the first seven months of the current financial year. Non-tax revenues, comprising transfers from the RBI and dividends of the public sector units, shored up the Centre's revenues.
Parliament proceedings were adjourned for the day on Monday following protests by the opposition which has been demanding a statement from Prime Minister Narendra Modi in the House on the Manipur issue. In the Rajya Sabha, the opposition kept insisting on a discussion under Rule 267 of the House.
Seeking to enhance green mobility, the Union Cabinet on Wednesday approved the 'PM-eBus Sewa' scheme under which 10,000 electric buses will be provided to 169 cities under the public-private partnership (PPP) model.
State higher education minister R Bindhu has directed a three-member team, comprising the principal secretary of higher education, and Cochin University's vice-chancellor and registrar, to inquire into the stampede incident, an official release said.
The world has recognised India as a bright star as the country is recording healthy economic growth despite global uncertainties, finance minister Nirmala Sitharaman said on Wednesday. India's growth at 7 per cent in the current fiscal is the highest among major economies and the Indian economy is on the right track, she said in her Budget speech.
A more vigilant Opposition and a more aware civil society including the media could have certainly helped keep a check on an unhealthy trend, says A K Bhattacharya.
The protests came after Speaker Om Birla announced the end of Question Hour at noon as the designated time for it is 11 am to noon. While asking the first supplementary, Gandhi said he wanted to know the list of 50 top wilful defaulters, including funds given and the amount written off by banks but did not get a proper answer in the written reply.
On one hand, South Indian states have been complaining about denial of a proportionate portion of the sharable funds from the Centre, based on population. On the other hand, they stand to lose Lok Sabha and Rajya Sabha seats that again are based on population, points out N Sathiya Moorthy.
A person in the 30% income tax bracket with a Rs 40 lakh home loan at 9% interest rate would, under the Rs 3.5 lakh interest exemption, will save Rs 105,000 in tax in the first year, against Rs 60,000 under the previous interest exemption of Rs 2 lakh.
In his Budget speech, the finance minister said: "We propose to facilitate higher investment in affordable housing. Affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits."
Congress president and Leader of Opposition in Rajya Sabha Mallikarjun Kharge on Wednesday claimed he was 'insulted' as his mic was turned off while he was speaking in the House the previous day.
Offering to trade second preference votes with the Congress, Janata Dal-Secular leader H D Kumaraswamy on Tuesday said his main agenda is to defeat the Bharatiya Janata Party in the contest for fourth seat, during the June 10 Rajya Sabha polls from Karnataka.
The need for finding options for proper functioning of Parliament is of paramount importance as the frequency of the passage of Budgets and other economic Bills without discussion or debate has only increased in the last few years, notes A K Bhattacharya.
Modi said that he wanted a vast and qualitative discussion on financial issues in both the houses.
The opposition parties will meet on Monday morning to evolve their strategy in both Houses of Parliament after protests by them on the Hindenburg-Adani issue overshadowed most of the first half of the Budget session.
The government on Monday said that matters regarding Chinese intrusion can't be discussed in Parliament as it concerns the security of the country.
In the last three years, the Union Territory administration has invoked 311 (2)(c) of the Constitution to sack more than 50 employees, who were allegedly operating in shadows within the government and drawing a salary from the public exchequer, however, they were helping Pakistani terror outfits, providing logistics to terrorists, propagating terrorists' ideology, raising terror finances and furthering secessionist agenda, officials said.
Both houses of Parliament were prorogued on Friday, almost a month after being adjourned sine die, ending the possibility of an extension of the Monsoon session in the face of continued stand-off between government and opposition.
'The people of Tamil Nadu in particular Chennai know about the double standards of the BJP. Nothing will work for them here.'
These houses will have amenities such as LPG, electricity and toilets, she said.
This form of government, where secrets and major decisions are kept from the Cabinet itself, appears to be continuing, which is why the speculation around this special session, asserts Aakar Patel.
'The BJP's real weapons are Hindutva, organisation and finance.'
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
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