Cap on bank withdrawals to be reviewed after Dec 30, says finance secy.
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.
'It is time to think up a policy of incentivising farmers in the states around Delhi.' 'Let's say a farmer is given an incentive for not burning his crop stubble and instead handing over the task of incinerating the crop stubble to a State-run-or-funded community initiative.' 'The incentive can take the form of, say, fertilisers, or even direct cash transfers,' recommends Somasekhar Sundaresan.
Jaitley said a 10 per cent tax long on capital gains exceeding Rs 1 lakh made from the sale of shares has been introduced but those made till Janaury 31 would be grandfathered. A 10 per cent tax on distributed income by equity oriented mutual funds has also been proposed in the budget.
He said the Ayush ministry would ensure that there was a good Ayurveda hospital in each district.
The new MSP would worsen, rather than rectify, the two most pressing problems of Indian agriculture: Wastage of water from all sources and a tendency towards monocropping, says Shreekant Sambrani. On the other hand, a simple-minded recourse to them without a host of supporting measures could well exacerbate not just agriculture, but the overall economy as well, says Shreekant Sambrani.
Vidarbha had given as many as 44 seats to the BJP in 2014. The Congress and NCP, plus independents and smaller parties, snatched 19 seats from the BJP, reports Abhishek Waghmare.
Meanwhile, a group of college students, donning degree robes and selling 'pakodas' to passers-by in a dig at Prime Minister Narendra Modi's remarks over job creation, were on today whisked away by the police, hours before the PM's rally in Bengaluru.
Trinamool Congress (TMC) supremo Mamata Banerjee on Saturday trained her guns on the Congress, saying that Prime Minister Narendra Modi will become more powerful as the grand old party is not serious about politics, and alleged that the country is suffering because that party does not take decisions.
Since 2014, the public sector banks' branch network in rural and semi urban has grown by a mere 4,000 while for private sector banks, it doubled from 9,673 to 18,437.
Rising rural distress due to back-to-back droughts have put pressure on FM to spend more on social schemes; no change in tax slabs likely
Following the Budget being announced by Finance Minister Arun Jaitley, leaders across the political spectrum provided their views.
'In the last five years of UP government, the UP police were given a fair environment and the rule of law always remained supreme.' 'In these five years, nobody within BJP dared tell a police officer to act against the rule of law.'
'They want (the ownership and management of PSU banks) to pass into the hands of a private sector entity.' 'Ownership of these banks will go from the public sector to private sector.'
'The finance minister has told the BJP's core voters we are hearing you and we are sensitive to your aspirations.'
Strongly refuting the charge, Information and Broadcasting Minister Rajyavardhan Singh Rathore said the government has nothing to do with the internal developments of the channel and the opposition was raising the matter as it has no issues to flag in the House.
The Lok Sabha on Tuesday passed the Constitution amendment bill to restore the power of states to make their own OBC lists after a thaw in the logjam as Opposition parties backed the legislation but demanded the removal of the 50 per cent cap on reservation, with many of them also calling for a caste-based census.
The 50-share NSE Nifty was trading lower by 24 points.
FCI's suspension of tur under MSP is likely to force farmers to undergo distress sales of the commodity.
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a five-year-long reform-based result-linked power distribution scheme worth Rs 3.03 lakh crore, for strengthening system of utilities to improve efficiency. Briefing after the CCEA meet here, Power and New & Renewable Energy Minister R K Singh said, "We have done a lot for power distribution reforms. It needs to be strengthened. Today, the Cabinet has approved the new scheme worth Rs 3.03 lakh crore, including Rs 97,000 crore central outlay." He said the funds would be given to power distribution companies (discoms) to strengthen their system.
'No matter how many government schemes there are for the poor, the system works more for the privileged, less for the little guy,' notes T N Ninan.
Rediff.com does a quick checklist on what the two manifestos have to say on hot-button issues of the day.
The Goa CM knows running a coalition government while pursuing a development agenda will require a fine balancing act.
If you are bullish on the consumption theme, consider specialised mutual funds that focus on this theme. Remember that such sectoral mutual funds should not make up more than 5% to 10% of your equity portfolio.
The panel suggests family head must be valued at skilled wage rates.
This could be the reason why Prime Minister Narendra Modi mentioned tomato, onion, and potato as his government's 'TOP' priority, in an election rally on February 5 in poll-bound Karnataka.
Addressing his maiden poll rally in West Bengal's Malda, the Congress chief said, "Did the youth get employment, did the farmers receive any help? Like Modi, Mamata Banerjee makes only fake promises and lies to the people."
Indians want change and progress. They should be willing to accept tough decisions, says Sanjeev Nayyar.
There appears to be a growing perception among the political class that faster growth will not create jobs fast enough and, therefore, welfare spending needs to be drastically increased, says T T Ram Mohan.
It raises three major questions - the incentive compatibility issue, the fairness issue and fiscal challenge, said Panagariya.
Syed Firdaus Ashraf/Rediff.com lists 11 Modi flagship schemes that may have been gamechangers in the Lok Sabha election.
Elaborating on its not-so-pleasing outlook on the economy, Crisil said private consumption demand, which has been the bulwark of growth for the last few decades, grew by a pale 3.1 per cent in the first quarter as against 7.2 per cent growth in the preceding quarter.
And, in turn, help 1,000 artisans earn Rs 5,000 at a time when they are struggling to cope with financial hardships during the COVID-19 pandemic.
The IIM-B's 'Karnataka innovation report' has become the basis for the Congress party's election narrative, particularly to distinguish it from the 'Gujarat model of development', reports Archis Mohan.
Stating that a weak fiscal position continues to constrain India's sovereign ratings, Fitch said the next government's medium-term fiscal policy will be of particular importance from a rating perspective.
'When you forgive a farmer's loans there is this ideological economists lobby which says: 'That's socialism. And that's bad'.' 'But to forgive the loans of big people, so that they will be interested to invest further is capitalism and is good.'
A political party's manifesto is the first stage of building a compact with the voters in any governance plan. If that compact is dependent on a document that reeks of fiscal imprudence and lacks credibility, it is a serious setback to the country's democracy and governance, says A K Bhattacharya.
A little away from the city in the northern suburbs, vegetables are 15-30 per cent costlier.
"I am very impressed with India's ability to stand up and defy the international regime which has no regard for the food security of 600 million farmers and 800 million hungry people," says Devinder Sharma.
'Gloom is nowhere in sight, with healthy foreign exchange reserves, a strong rupee, healthy tax collections, corruption and crony capitalism under check,' argues Gopal Krishna Agrawal.
