In an exclusive column to Rediff.com, CPI-M general secretary Prakash Karat explains what is wrong with the Union Budget 2011-12 that Finance Minister Pranab Mukherjee presented in Parliament on Monday.
The 54-page document tabled in Parliament detailed how the Modi-government pull the economy from being counted among the most fragile-five in the world to being the fasted growing and the most attractive investment destination.
Mukherjee presented the Union Budget in the Parliament on Friday.
Combating inflation, protecting the common man from the impact of rising food prices and sustaining the momentum of economic growth while ensuring the poor get a fair share of the "fruits of growth" are among the government's "foremost priorities" in 2011-12, President Pratibha Patil said in her address to Parliament this week.
Corporation tax is the single largest source of income, contributing 21 paise to each rupee earned.
A day after the Budget was presented, chaos is expected to return to Parliament on Tuesday with the Opposition prepped to target Education Minister Smriti Irani in both Houses over her statements on the death of Hyderabad Central University student Rohith Vemula and the Jawaharlal Nehru University controversy.
The Supreme Court will hear on Tuesday NCP leader Mohammed Faizal's plea against the Lok Sabha Secretariat for not withdrawing a notification disqualifying him as an MP upon his conviction and 10-year sentence that was later stayed by the Kerala high court.
Law Minister Kiren Rijiju said on Monday the government does not "disturb" the personal freedom and activities of individuals but the issue related to the institution of marriage was a matter of policy.
He said the government proposes to extend Pradhan Mantri Kaushal Kendras to more than 600 districts across the country, from 60 districts at present.
The Supreme Court verdict on the Ram temple showed India's secular character to the world, Shah said.
The current cost of the food subsidy is Rs 1 trillion.
Union Finance Minister Pranab Mukherjee on Friday presented his fifth budget in Parliament on Friday but Morarji Desai holds the record of doing so 10 times.
There is no use of the BJP targeting the likes of Mamata Banerjee and M K Stalin, directly by the party's political bosses, both in Delhi and the respective state capitals, or even using the Raj Bhavans to fire those salvos from. Successive elections have proved that it's counter-productive, if anything. But the BJP is yet to understand it, acknowledge it, points out N Sathiya Moorthy.
India's economic growth is estimated to have slowed down to 11-year low of 5 per cent during the current financial year ending March 2020.
The FM could scrap the secrecy around tax rates.
There is a serious move afoot to reschedule the second half of the budget session of the Parliament with sources disclosing that leader of the Lok Sabha and Union Finance Minister Pranab Mukherjee would discuss the rescheduling of dates in the meeting of floor leaders of political parties which he has called on April 5.
According to highly placed sources, Congress president Sonia Gandhi on Monday shared her plans regarding Telangana with Andhra Pradesh Chief Minister Kiran Reddy in Delhi. Reddy is also believed to have taken up the matter with the top political leadership.
The new income tax regime for filing returns has been "sweetened" in the Budget 2023-24 and it will be beneficial for maximum number of taxpayers as they can enjoy a "reduced" tax rate, CBDT chairman Nitin Gupta said. Speaking to PTI during a post-Budget interview, Gupta said the intent of the government while announcing the new slabs and rates under the new tax regime is to gradually "do away with deductions and exemptions" so that the "long-standing demand of reduction of taxes for individual taxpayers and entities can be met." Finance Minister Nirmala Sitharaman, while presenting the Budget 2023-24 in the Parliament on Wednesday, said the government has made the new income tax regime more attractive for taxpayers and has thus brought about 'substantial changes' in its structure for the benefit of the middle class.
The loss in Bihar has forced a change in NDA's market positioning, says Shekhar Gupta.
The Centre will promote Kisan Drones, chemical-free natural farming, public-private partnerships for the delivery of digital and high-tech services to farmers across the country during the financial year 2022-23, Finance Minister Nirmala Sitharaman said on Tuesday. Presenting the Budget 2022-23 in Parliament, Sitharaman said the inclusive development is one of the four priorities of the government moving forward. As part of the inclusive development, the government will promote the use of 'Kisan Drones' for crop assessment, digitisation of land records and spraying of insecticides. The government will also facilitate a fund with blended capital raised under the co-investment model through Nabard to finance agri start-ups and rural enterprises, she said.
The government has no plan to print currency notes to tide over the current economic crisis triggered by the outbreak of COVID-19 pandemic, Finance Minister Nirmala Sitharaman informed Parliament on Monday. To a question on whether there is any plan to print currency to tide over the crisis, the finance minister said, "No Sir". Many economists and experts have suggested to the government to print more currency notes to tide over the difficult economic situation with a view to support the economy ravaged by the spread of COVID-19, and protect jobs.
Congress leader Rahul Gandhi has written to Lok Sabha Speaker Om Birla to allow him to speak in the house over his democracy remarks made in London, sources said on Monday.
Asked about the BJP's claim that its performance in southern states will be exemplary, Tharoor said, "The claim of an 'exemplary' performance is yet another product of the BJP's propaganda mill."
For the first time, large display screens and consoles for participation from galleries, ultraviolet germicidal irradiation, special cables between the two Houses and polycarbonate separators will be in place.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
On Friday govt increased the petrol price by Rs 1.40 a litre.
When the Chair asked Chowdhury to raise a point of order, Goyal stood up and said that he would not allow the Congress leader to speak in protest against the disruption of the external affairs minister's statement earlier in the day on India's foreign engagements since the Budget session.
With Jaitley preferring continuity over change, good days might take a little longer to arrive, says Shankar Acharya.
The government has introduced the Code on Wages Bill 2019 and the Occupational Safety, Health and Working Conditions Code Bill 2019 in Lok Sabha on July 23.
A day before her scheduled appearance before the Enforcement Directorate in the Delhi excise policy case, Bharat Rashtra Samiti leader K Kavitha led a hunger strike here on Friday seeking the passage of the long-pending Women's Reservation Bill in this Budget session of Parliament.
Rajya Sabha Chairman Jagdeep Dhankhar's decision to allow Singh to speak on the Bharat Ratna honour to Charan Singh drew sharp protest from the Congress, leading to a heated exchange of words between the opposition and the treasury benches.
A K Bhattacharya lists three reasons why Finance Minister Arun Jaitley will most likely present a full Budget on February 1, 2019.
The major central trade unions demanded that the Centre take steps to "negate" the impact of the SC judgement banning strike by government employees. They will also observe the opening day of budget session of Parliament as national protest day.
The opposition has a whole host of issues to target the government.
Employees of public sector banks (PSBs) on Thursday went on two-day strike against the move to privatise public sector banks impacting normal banking operation across the country. Many branches across different parts of the country were shut as the United Forum of Bank Union (UFBU), an umbrella body of nine bank unions including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) had given two day strike call. As a result, services such as deposits and withdrawal at branches, cheque clearance and loan approvals might be affected due to the strike. But ATMs are expected to function as usual.
AAP leader and Delhi minister Atishi made the allegations against the agency at a press conference and called the entire probe a "scam" in itself.
Sheela Bhatt recounts the tension, suspense and disruptions during P Chidambaram's interim budget in the Lok Sabha on Monday.
Addressing the BJP parliamentary party meeting, Modi said he relished all these challenges during the pandemic and the country also overcame them.
The ministry of minority affairs informed the Lok Sabha that in 2022-2023, it had been allotted Rs 5,020.5 crore (Rs 50.20 billion); in the Revised Estimates, it had got Rs 2,612.66 crore (Rs 26.12 billion); and had spent, until the end of March this year, Rs 712.5 crore (Rs 7,12 billion).
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