Finance Minister Nirmala Sitharaman on Saturday unveiled the budget for fiscal 2020-21, vowing to boost income of Indians and their purchasing power, in a bid to revive domestic economic growth that has slumped.
"There is enough time, and required mandatory time for the circulation of agenda will be followed", the Parliamentary Affairs Minister said.
All public sector bank branches will have an automated teller machine by March 31, 2014.
What has been the impact of this Budget on your daily life?
Presenting the Union Budget for 2013-14 in Parliament, Finance Minister P Chidambaram also quoted his favourite poet Tiruvalluvar towards the end of his Budget speech after referring to Stiglitz in the beginning.
The bills were passed by voice vote.
The government has convened an all-party meeting on July 21 ahead of the Monsoon Session of Parliament which will start next Monday, the Parliamentary Affairs Ministry said.
Trivedi presented the Railway Budget in the Parliament on Wednesday.
The government has set up a search committee under Union Law Minister Arjun Ram Meghwal to shortlist names for the appointment of the next chief election commissioner, sources said on Monday, citing an order.
Soon after Union Finance Minister P Chidambaram presented the Union Budget 2013 in Parliament, Trinamool Congress leader and former Railway Minister Dinesh Trivedi joined us for the Budget chat.
The Lok Sabha was adjourned twice in the post-lunch period on Thursday as a war of words broke out between the treasury and opposition benches, triggered by Congress MP Charanjit Singh Channi's spat with the Bharatiya Janata Party's Ravneet Singh Bittu.
Last year, Sitharaman had ditched the long-standing tradition of carrying budget documents in a leather briefcase and went swadeshi with a 'bahi-khata'.
Per capita income has more than doubled to Rs 1.97 lakh in around nine years. Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years. Seven priorities of the Budget, 'Saptarishi', are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.
'I had to persuade him. I think he was a sceptic to begin with, but later on he was convinced that what we were doing was the right thing to do, that there was no other way out.'
Modi said the policies of the government will empower the downtrodden and turn them into a "power house" for the development of the country.
On Tuesday, Leader of Opposition Rahul Gandhi accused BJP MP Anurag Thakur of "abusing and insulting" him during the Lok Sabha discussion on the Union Budget.
Budget has already bombed at the box office and passing it without a revisit will be a mockery of the exercise though any modification may be short lived and perfunctory, observes V Ranganathan.
"The Railway Minister has presented a very responsible, practical and implementable budget," Chidambram told reporters outside Parliament.
Justice Krishna S Dixit, presiding over a single judge bench, issued notice to the parties concerned and paused the ongoing investigation.
BJP MP Nishikant Dubey has written to Lok Sabha Speaker Om Birla seeking initiation of breach of privilege proceedings against Congress leader Rahul Gandhi for making "blatant lies and vilification campaign" during his speech in the House. Dubey alleged that Gandhi used his parliamentary privilege to spread canards without authenticating his charges and distorted historical facts during his speech. Gandhi had claimed that mobile phones were not made in India but only assembled here, China has captured the Indian territory, and India had sent Foreign Minister S Jaishankar to the US to get an invite for Prime Minister Narendra Modi for US President Donald Trump's swearing-in ceremony. He also made allegations related to the electoral rolls for the Maharashtra Assembly polls and the law for the appointment of the elections commissioner. Dubey accused Gandhi of misusing the Constitution's Article 105, which accords privileges to parliamentarians for their comments made inside the Lok Sabha and the Rajya Sabha. He urged the Speaker to initiate proceedings against Gandhi, alleging that Parliament's records and proceedings are a testimony to his irresponsible attitude.
India has reported 59 cases of Human Metapneumovirus (HMPV) and two deaths due to co-morbidities between January 6 and 29, according to Union Minister Prataprao Jadhav. The virus primarily affects young children, the elderly, and immunocompromised individuals, leading to respiratory illnesses. The government has taken measures to monitor and control the spread of HMPV cases and create public awareness.
Congress spokesperson Supriya Shrinate said her "sympathies" were with the BJP as big leaders of the INDIA bloc who are known to be good speakers have made it to the House.
Railway Minister Mamata Banerjee will present the Rail Budget on July 1.
More than three crore signatures submitted to PM seeking scrapping of Aadhaar.
The Janata Dal (United), an ally of the ruling Bharatiya Janata Party (BJP), has sought an extension in the tenure of the Joint Parliamentary Committee (JPC) scrutinising the bills proposing simultaneous elections. The party argued that the committee, which has only met once, requires more time for extensive consultations. Meanwhile, the Lok Janshakti Party (Ram Vilas), another BJP ally, has demanded a "special industrial package" for Bihar, highlighting the state's low per capita income compared to the national average.
"The ray of hope being seen by the world will glow brighter -- for this, I firmly believe the finance minister will make all efforts to meet these aspirations," Modi said.
The government's move to tweak the long-term capital gains (LTCG) tax regime proposed in the Finance Bill 2024 and re-introduce the indexation benefit is likely to boost the investments and spur housing sales in the country, industry executives believe. "By enabling taxpayers to choose the lower tax burden between the new and old schemes, the amendment is poised to drive investment and enhance sales across housing segments," said Niranjan Hiranandani, chairman of the Hiranandani Group. In Budget 2024, Union Finance Minister Nirmala Sitharaman proposed an overhaul in the capital gains tax regime, including lowering the LTCG tax to 12.5 per cent from 20 per cent.
The first Budget of Independent India was presented by R K Shanmukham Chetty on November 26, 1947.
Admitting there were challenges before the economy, Finance Minister P Chidambaram said at a post-Budget media conference that another set of decisions and measures would be announced during the Budget's passage in Parliament.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
'Indian players in the digital market should not be dominated by global players, and they should not dominate the smaller players -- these discussions are on.'
Congress Parliamentary Party chairperson Sonia Gandhi's reaction to President Droupadi Murmu's address to the Joint session of the Parliament on Friday stoked a controversy.
A corrigendum to the joint parliamentary committee report on the Waqf Amendment Bill, 2024, was tabled in the Rajya Sabha after Opposition MPs alleged that dissent notes were redacted from the report. BJP MP Medha Vishram Kulkarni tabled the corrigendum, which included the un-redacted dissent notes. The Opposition MPs, led by Leader of Opposition Mallikarjun Kharge, had earlier accused the government of misleading the House by deleting the dissent notes. The government, however, denied the allegations. Chairman Jagdeep Dhankhar thanked the government for the corrigendum, saying it showed that parliamentary institutions are blossoming. Opposition MPs, however, said it was done under their pressure.
The Bench did not agree with the submission that in the past, Centre had postponed presentation of Budget due to assembly polls.
Opposition MPs, some of whom have given their dissent, slammed the exercise as undemocratic, claiming that they were given little time to study the final report and frame their dissent notes.
Finance Minister presented the Budget in Parliament on Thursday.
Finance Minister Nirmala Sitharaman on Saturday announced increasing customs duty on imported footwear and furniture. In her second Budget presentation, the finance minister also imposed health cess on import of medical equipment.
Alternatively, the government may go in for a five-day session to blunt criticism that it was running away from debates.
Sources in the Rural Development Ministry said the actual expenditure incurred in 2020-21 will be higher than the allocated funds and it will at least be at par with this year's total estimated expenditure of MGNREGS.
Finance Minister Nirmala Sitharaman on Monday used her trademark 'bahi-khata', a ledger wrapped in a red-coloured cloth, to carry Budget documents as she arrived in Parliament House to present her third straight Budget. Sitharaman, India's first full-time woman finance minister, had in July 2019 ditched the colonial legacy of a Budget briefcase for the traditional 'bahi-khata' to carry Union Budget papers. She used the same last year and again on Monday.
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