The Union Cabinet Tuesday gave its nod to issue the <a href="http://www.wionews.com/india-news/triple-talaq-citizenship-amendment-bill-lapse-as-rajya-sabha-adjourned-sine-die-197104">Triple Talaq </a>ordinance, which makes the practice of instant triple talaq by Muslim men a penal offence.

A bill which seeks to make the practice of talaq-e-biddat void, is pending in Rajya Sabha. The bill will lapse on June 3 with the dissolution of the present Lok Sabha.

The Cabinet has given its nod to the Triple Talaq ordinance, Finance Minister Arun Jaitley said.

Once signed by President Ram Nath Kovind, the triple talaq ordinance will come into force for the third time in less than one year.

The Union Cabinet Tuesday gave its nod to issue the Triple Talaq ordinance, which makes the practice of instant triple talaq by Muslim men a penal offence. A bill which seeks to make the practice of talaq-e-biddat void, is pending in Rajya Sabha.

The Union Cabinet Tuesday gave its nod to issue the Triple Talaq ordinance, which makes the practice of instant triple talaq by Muslim men a penal offence. A bill which seeks to make the practice of talaq-e-biddat void, is pending in Rajya Sabha. The bill will lapse on June 3 with the dissolution of the present Lok Sabha. The Cabinet has given its nod to the Triple Talaq ordinance, Finance Minister Arun Jaitley said. Once signed by President Ram Nath Kovind, the triple talaq ordinance will come into force for the third time in less than one year.

Cabinet nod to ordinance on Triple Talaq: Arun Jaitley

Union Finance Minister Arun Jaitley on Friday said 'Most Favoured Nation' status accorded to Pakistan has been withdrawn after at least 40 CRPF personnel were killed in Pulwama when the Jaish-e-Mohammed terrorist rammed an explosives-laden vehicle into the bus they were travelling in.

Jaitley was addressing a press conference after Cabinet Committee on Security (CCS) meeting concluded in Delhi on Friday morning.

The CCS took an assessment of the situation and discussed the incident in which a large number of CRPF died, he said.&nbsp;

The Ministry of External Affairs (MEA) will take all possible diplomatic efforts for complete ''isolation'' of Pakistan from the international community for having a hand in this gruesome incident, Jaitley added.

''Security forces will take all possible take steps to ensure full security is maintained and ensure those who committed this heinous crime are made to pay a heavy cost,'' Jaitley further said.

Meanwhile, Rajnath will leave for Srinagar along with several officials in order to take stock of the situation.&nbsp;

An all-party meeting will be called tomorrow to discuss the incident.&nbsp;

According to Jaitley, CRPF will make detailed arrangements to transport the bodies of the deceased to their relatives.&nbsp;

The CCS observed a two-minute silence before the meeting and expressed its condolences to the victims of the heinous attack.

Union Finance Minister Arun Jaitley on Friday said 'Most Favoured Nation' status accorded to Pakistan has been withdrawn after at least 40 CRPF personnel were killed in Pulwama when the Jaish-e-Mohammed terrorist rammed an explosives-laden vehicle into the bus they were travelling in.

Union Finance Minister Arun Jaitley on Friday said 'Most Favoured Nation' status accorded to Pakistan has been withdrawn after at least 40 CRPF personnel were killed in Pulwama when the Jaish-e-Mohammed terrorist rammed an explosives-laden vehicle into the bus they were travelling in. Jaitley was addressing a press conference after Cabinet Committee on Security (CCS) meeting concluded in Delhi on Friday morning. The CCS took an assessment of the situation and discussed the incident in which a large number of CRPF died, he said. The Ministry of External Affairs (MEA) will take all possible diplomatic efforts for complete ''isolation'' of Pakistan from the international community for having a hand in this gruesome incident, Jaitley added. ''Security forces will take all possible take steps to ensure full security is maintained and ensure those who committed this heinous crime are made to pay a heavy cost,'' Jaitley further said. Meanwhile, Rajnath will leave for Srinagar along with several officials in order to take stock of the situation. An all-party meeting will be called tomorrow to discuss the incident. According to Jaitley, CRPF will make detailed arrangements to transport the bodies of the deceased to their relatives. The CCS observed a two-minute silence before the meeting and expressed its condolences to the victims of the heinous attack.

India withdraws 'Most Favoured Nation' status accorded to Pakistan after Pulwama attack

All diplomatic steps will be explored to isolate Pakistan: Arun Jaitley

Accusing the Congress party of launching ‘fake campaigns’ against the defence forces, judiciary and Reserve Bank, Union Minister Arun Jaitley on Sunday said it is time to protect the country as well as its institutions from ‘institution wreckers’.

In a hard-hitting Facebook post, the minister recalled how the Congress-led governments used to interfere with institutions like the RBI, judiciary and the Central Bureau of Investigation (CBI).

“It is about time that India and its institutions are protected from these ‘institution wreckers’,” said Jaitley, who Saturday returned from the US after medical treatment.

In the post titled ‘Institutions Under Attack - The Latest Fabrication’, Jaitley said the past two months have witnessed several “fake campaigns” which failed to cut much ice as falsehood does not have longevity.

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The ‘compulsive contrarians’ continued to jump from one falsehood to another, he said.

Jaitley said in West Bengal, democracy is seriously under peril.

“BJP leaders can’t land, public meetings are being prevented and the Rath Yatra was disallowed. The Congress Party’s stand on multiple issues is self-contradictory. It slaughters a cow before the cameras in Kerala, and invokes the National Security Act against the cow killers in Madhya Pradesh,” he said.

&nbsp;There are two critical features of these new emerging breed of ‘institution protectors’. They criticise the government the maximum and simultaneously argue that the free speech is in danger, Jaitley said.

“They shed crocodile tears for democracy and make every effort to convert the world’s largest democracy into a dynastic one,” he said.

“The Congress aligned with the Maoist in the recent Chhattisgarh elections. Rahul Gandhi stood shoulder to shoulder with the ‘Tukde Tukde’ gang at the Jawaharlal Nehru University. The Congress was in the forefront of defending the urban naxals in court. And yet it claims to be friend of both, the idea of India and its institutions,” Jaitley said.

He said these ‘institution protectors’ support the legitimising of illegal infiltrators into India. They readily jump to the support of those who want to dismember the country, he said.

Accusing Congress President Rahul Gandhi of stalling functioning of Parliament, Jaitley said his two speeches on Rafale are based on a personal hatred for the Prime Minister emanating from envy.

“History will record that Pt. Jawaharlal Nehru’s great grandson has singularly damaged India’s Parliament as an institution more than anyone else,” he said.

The minister said the Congress attempts at 11.00 am every morning to disrupt both houses of Parliament.

&nbsp;“If we analyse Rahul Gandhi’s two speeches on Rafale, they are based on a personal hatred for the Prime Minister emanating from envy. A failed student always hates the class topper. Additionally, the context of the speeches points more to college-level lumpenisation in content.

“It has been left to two opposition members namely Bhartruhari Mahtab of the BJD and N.K. Premachandran of the RSP to fill up the intellectual vacuum that the Congress has created,” he said.

On Rafale, Jaitley said the deal not only strengthens the combat ability of the Indian Air Force but saved thousands of crores for the exchequer.

“When its falsehood collapsed, its creators by producing half a document lost their full credibility. They forgot that truth always prevails,” he said.

Accusing the Congress of organising loot on the banks between 2008-2014, Jaitley said the party is now alleging that industrial loans had been waived. “Not a single rupee was waived. On the contrary, the defaulters have been thrown out of management &amp; Congress’s falsehood was exposed,” he said.

Stating that the government has consistently maintained an arm’s length distance with the Election Commission, he said the attack on the EVMs is not merely to allay defeat, it is an attack on the commission.

&nbsp;He also said it is the Opposition which questioned first the existence of the surgical strike and then played it down as a routine action which has also taken place in the past.

“The Army Chief was described as a ‘Sadak ka Gunda’. Serious doubts have been raised on the Air Force led choice of the combat aircraft Rafale and its negotiation process. In the face of all this, they allege that institutions are under attack by the Government would be a mockery” he said.

On RBI, Jaitley said Congress governments in the past have been liberal in asking governors of the central bank to quit.

“Pt. Nehru, Mrs Indira Gandhi and subsequently Mr Yashwant Sinha had asked Governors to quit. During the UPA Government, two Governors were barely on speaking terms with the Finance Minister. Nothing of this kind has happened in the recent past,” he said.

The government legitimately flags the issues relating to liquidity and credit availability with the RBI, Jaitley said.

“The Government is the principal manager of the nation’s economy. How can raising legitimate issues relating to credit and liquidity availability be an interference with the RBI. The Government consistently maintained communications with the RBI Governors during its tenure,” Jaitley said.

Stating that the government does not interfere in any investigative function of CBI or any other investigative agency, Jaitley said restoring the credibility of an investigative agency is strengthening the institution and not assaulting it.&nbsp;

Accusing the Congress party of launching ‘fake campaigns’ against the defence forces, judiciary and Reserve Bank, Union Minister Arun Jaitley on Sunday said it is time to protect the country as well as its institutions from ‘institution wreckers’.

Accusing the Congress party of launching ‘fake campaigns’ against the defence forces, judiciary and Reserve Bank, Union Minister Arun Jaitley on Sunday said it is time to protect the country as well as its institutions from ‘institution wreckers’. In a hard-hitting Facebook post, the minister recalled how the Congress-led governments used to interfere with institutions like the RBI, judiciary and the Central Bureau of Investigation (CBI). “It is about time that India and its institutions are protected from these ‘institution wreckers’,” said Jaitley, who Saturday returned from the US after medical treatment. In the post titled ‘Institutions Under Attack - The Latest Fabrication’, Jaitley said the past two months have witnessed several “fake campaigns” which failed to cut much ice as falsehood does not have longevity. × The ‘compulsive contrarians’ continued to jump from one falsehood to another, he said. Jaitley said in West Bengal, democracy is seriously under peril. “BJP leaders can’t land, public meetings are being prevented and the Rath Yatra was disallowed. The Congress Party’s stand on multiple issues is self-contradictory. It slaughters a cow before the cameras in Kerala, and invokes the National Security Act against the cow killers in Madhya Pradesh,” he said. There are two critical features of these new emerging breed of ‘institution protectors’. They criticise the government the maximum and simultaneously argue that the free speech is in danger, Jaitley said. “They shed crocodile tears for democracy and make every effort to convert the world’s largest democracy into a dynastic one,” he said. “The Congress aligned with the Maoist in the recent Chhattisgarh elections. Rahul Gandhi stood shoulder to shoulder with the ‘Tukde Tukde’ gang at the Jawaharlal Nehru University. The Congress was in the forefront of defending the urban naxals in court. And yet it claims to be friend of both, the idea of India and its institutions,” Jaitley said. He said these ‘institution protectors’ support the legitimising of illegal infiltrators into India. They readily jump to the support of those who want to dismember the country, he said. Accusing Congress President Rahul Gandhi of stalling functioning of Parliament, Jaitley said his two speeches on Rafale are based on a personal hatred for the Prime Minister emanating from envy. “History will record that Pt. Jawaharlal Nehru’s great grandson has singularly damaged India’s Parliament as an institution more than anyone else,” he said. The minister said the Congress attempts at 11.00 am every morning to disrupt both houses of Parliament. “If we analyse Rahul Gandhi’s two speeches on Rafale, they are based on a personal hatred for the Prime Minister emanating from envy. A failed student always hates the class topper. Additionally, the context of the speeches points more to college-level lumpenisation in content. “It has been left to two opposition members namely Bhartruhari Mahtab of the BJD and N.K. Premachandran of the RSP to fill up the intellectual vacuum that the Congress has created,” he said. On Rafale, Jaitley said the deal not only strengthens the combat ability of the Indian Air Force but saved thousands of crores for the exchequer. “When its falsehood collapsed, its creators by producing half a document lost their full credibility. They forgot that truth always prevails,” he said. Accusing the Congress of organising loot on the banks between 2008-2014, Jaitley said the party is now alleging that industrial loans had been waived. “Not a single rupee was waived. On the contrary, the defaulters have been thrown out of management & Congress’s falsehood was exposed,” he said. Stating that the government has consistently maintained an arm’s length distance with the Election Commission, he said the attack on the EVMs is not merely to allay defeat, it is an attack on the commission. He also said it is the Opposition which questioned first the existence of the surgical strike and then played it down as a routine action which has also taken place in the past. “The Army Chief was described as a ‘Sadak ka Gunda’. Serious doubts have been raised on the Air Force led choice of the combat aircraft Rafale and its negotiation process. In the face of all this, they allege that institutions are under attack by the Government would be a mockery” he said. On RBI, Jaitley said Congress governments in the past have been liberal in asking governors of the central bank to quit. “Pt. Nehru, Mrs Indira Gandhi and subsequently Mr Yashwant Sinha had asked Governors to quit. During the UPA Government, two Governors were barely on speaking terms with the Finance Minister. Nothing of this kind has happened in the recent past,” he said. The government legitimately flags the issues relating to liquidity and credit availability with the RBI, Jaitley said. “The Government is the principal manager of the nation’s economy. How can raising legitimate issues relating to credit and liquidity availability be an interference with the RBI. The Government consistently maintained communications with the RBI Governors during its tenure,” Jaitley said. Stating that the government does not interfere in any investigative function of CBI or any other investigative agency, Jaitley said restoring the credibility of an investigative agency is strengthening the institution and not assaulting it.

Arun Jaitley attacks Rahul Gandhi, says 'a failed student always hates topper’

BJP leader Arun Jaitley, who had been undergoing medical treatment in the United States, returned to India on Saturday.

Upon his return, the minister tweeted, "Delighted to be back home".

Jaitley, who is currently without a portfolio, had last month flown to New York for the treatment after being reportedly diagnosed with soft tissue cancer which required surgery.

In his absence, the responsibility of the Finance Ministry was given to Union Minister Piyush Goyal who also presented the Interim Budget this year.

Although Jaitley was away from India in the past few weeks, he has remained active on Twitter and was regular with his blog posts. He also met reporters through a video call from New York and gave interviews on Budget.

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Delighted to be back home.
— Arun Jaitley (@arunjaitley) <a href="https://twitter.com/arunjaitley/status/1094174087071629313?ref_src=twsrc%5Etfw">February 9, 2019</a></blockquote>
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Jaitley had stopped attending office at the beginning of April last year due to his kidney ailment. He was back in North Block - the seat of Finance Ministry - on August 23, 2018. Even then, Goyal had manned the Ministry for about 100 days.

The 66-year-old BJP leader&nbsp;underwent a renal transplant in May last year at the All India Institutes of Medical Sciences (AIIMS) in Delhi.

Earlier in September 2014, he underwent bariatric surgery to treat weight gain that he suffered because of a long-standing diabetic condition.&nbsp;

(With inputs from agencies)

&nbsp;

BJP leader Arun Jaitley, who had been undergoing medical treatment in the United States, returned to India on Saturday. Upon his return, the minister tweeted, "Delighted to be back home".

BJP leader Arun Jaitley, who had been undergoing medical treatment in the United States, returned to India on Saturday. Upon his return, the minister tweeted, "Delighted to be back home". Jaitley, who is currently without a portfolio, had last month flown to New York for the treatment after being reportedly diagnosed with soft tissue cancer which required surgery. In his absence, the responsibility of the Finance Ministry was given to Union Minister Piyush Goyal who also presented the Interim Budget this year. Although Jaitley was away from India in the past few weeks, he has remained active on Twitter and was regular with his blog posts. He also met reporters through a video call from New York and gave interviews on Budget. Delighted to be back home. — Arun Jaitley (@arunjaitley) February 9, 2019 × Jaitley had stopped attending office at the beginning of April last year due to his kidney ailment. He was back in North Block - the seat of Finance Ministry - on August 23, 2018. Even then, Goyal had manned the Ministry for about 100 days. The 66-year-old BJP leader underwent a renal transplant in May last year at the All India Institutes of Medical Sciences (AIIMS) in Delhi. Earlier in September 2014, he underwent bariatric surgery to treat weight gain that he suffered because of a long-standing diabetic condition. (With inputs from agencies)

Delighted to be back home: Jaitley returns to India after medical treatment in US

Union Minister Arun Jaitley is likely to return back from the United States, where he has been undergoing medical treatment, by this weekend, a source with knowledge of the matter said.

Jaitley, who was Finance Minister before a medical procedure led to the charge being temporarily taken away from him, missed presenting the sixth and the final Budget of the Narendra Modi Government. In his absence, the charge of the Ministry was given to Railways Minister Piyush Goyal.

Jaitley, however, has been active on social media tweeting and writing Facebook posts and had also met reporters through a video call from New York and fielded questions on the Budget. He also gave interviews on the subject.

The source said Jaitley is recovering well and is likely to be back in India by this weekend and depending on doctor's advice, may also attend Parliament next week. 
He, however, did not offer any details.

It is unclear if he would be renamed the finance minister soon after his return.

In an interview to PTI in New York after the Budget presentation, he said he was on recovery course and return to India in time to reply to the Budget debate in Parliament will depend on when his doctors allow him to leave.

"It depends on after my treatment here, which is all over. I am on the recovery course. It's when my doctors allow me to go back. As of present, as I understand, Piyush Goyal will be replying (to the Budget debate in Parliament)," he said.

The Budget session of Parliament ends on February 13, and debate on the interim budget, presented by Goyal, is supposed to happen before that.

"Will be back soon. I am much better now. Hopefully, will be back soon," Jaitley had said on February 1, when asked when would he come back.

Jaitley, 66, had last month flown to New York for the treatment after being reportedly diagnosed with soft tissue cancer which required surgery.

This is his first overseas visit after he underwent renal transplant surgery on May 14, 2018, at AIIMS.

He had stopped attending office at the beginning of April last year due to his kidney ailment and was back in North Block - the seat of Finance Ministry - on August 23, 2018. Even then, Goyal had manned the Ministry for about 100 days.

Jaitley in September 2014 underwent bariatric surgery to treat weight gain that he suffered because of a long-standing diabetic condition.&nbsp;

Union Minister Arun Jaitley is likely to return back from the United States, where he has been undergoing medical treatment, by this weekend, a source with knowledge of the matter said.

Union Minister Arun Jaitley is likely to return back from the United States, where he has been undergoing medical treatment, by this weekend, a source with knowledge of the matter said. Jaitley, who was Finance Minister before a medical procedure led to the charge being temporarily taken away from him, missed presenting the sixth and the final Budget of the Narendra Modi Government. In his absence, the charge of the Ministry was given to Railways Minister Piyush Goyal. Jaitley, however, has been active on social media tweeting and writing Facebook posts and had also met reporters through a video call from New York and fielded questions on the Budget. He also gave interviews on the subject. The source said Jaitley is recovering well and is likely to be back in India by this weekend and depending on doctor's advice, may also attend Parliament next week. He, however, did not offer any details. It is unclear if he would be renamed the finance minister soon after his return. In an interview to PTI in New York after the Budget presentation, he said he was on recovery course and return to India in time to reply to the Budget debate in Parliament will depend on when his doctors allow him to leave. "It depends on after my treatment here, which is all over. I am on the recovery course. It's when my doctors allow me to go back. As of present, as I understand, Piyush Goyal will be replying (to the Budget debate in Parliament)," he said. The Budget session of Parliament ends on February 13, and debate on the interim budget, presented by Goyal, is supposed to happen before that. "Will be back soon. I am much better now. Hopefully, will be back soon," Jaitley had said on February 1, when asked when would he come back. Jaitley, 66, had last month flown to New York for the treatment after being reportedly diagnosed with soft tissue cancer which required surgery. This is his first overseas visit after he underwent renal transplant surgery on May 14, 2018, at AIIMS. He had stopped attending office at the beginning of April last year due to his kidney ailment and was back in North Block - the seat of Finance Ministry - on August 23, 2018. Even then, Goyal had manned the Ministry for about 100 days. Jaitley in September 2014 underwent bariatric surgery to treat weight gain that he suffered because of a long-standing diabetic condition.

Arun Jaitley likely to return from US by this weekend

<a href="http://www.wionews.com/india-news/arun-jaitley-indicates-wont-be-back-in-india-to-reply-to-budget-debate-194768">Union Minister Arun Jaitley</a> Sunday hinted that the Rs 500 a month cash dole to small farmers may be increased in the future as the government's resources grow and said states can top up this amount with their own income support schemes.

He also slammed Congress President Rahul Gandhi for ridiculing the scheme announced in the Interim Budget for 2019-20 by equating it to Rs 17 a day dole, saying the opposition leader must "grow up" and realise that he is contesting a national election and not a college union poll.

The plan to give Rs 6,000 cash to 12 crore small and marginal farmers every year together with government schemes for giving them a house, subsidised food, free healthcare and hospitalisation, free sanitation, electricity, roads, gas connections, twice the amount of credit at very cheap rate are all aimed at addressing farm distress, Jaitley told PTI in an interview here.

"This is the first year where it (farmer income support scheme) has begun. I am sure as the government resources improve, this can be increased," he said.

On nearly 15 crore landless farmers being left out of the scheme, he said they have rural employment guarantee scheme MNREGA plus other benefits for the rural population.

"What is the biggest thing that the Congress claims that they ever did? (UPA regime Finance Minister) P Chidambaram announced a Rs 70,000 crore farm loan waiver... (but) actual distributed was only Rs 52,000 crore. (Also), CAG said a large part of that money went to traders and businessmen and converted itself into a fraud," he said.

The present government, he said, is "starting off over and above the lakhs of crores we are putting into rural areas."

"We are starting off with Rs 75,000 crore a year and I foresee this amount increasing in the years to come. And if the states top it up, some states have already started with the scheme, I think the others must emulate them, it will increase," he added.

Jaitley, who is in New York for medical treatment, said the state governments too have a responsibility to address farm distress by bringing their own income support schemes.

"Some state governments have started it," he said. "So my advise to what I call the 'Nawabs of Negativity' is ask your own state governments to top it off with their own income support schemes. Ideally, like the GST, this is a case where all political parties must defy party lines and in the spirit of cooperative federalism, have a Centre plus state scheme."

He said most of the central schemes are divided into 60:40 ratio, so "let us enhance this to 60:40 in the spirit of cooperative federalism" and instead of "giving criticism, let the states give 40 (per cent)."

"In addition to the fertiliser subsidy - another big amount, the healthcare, cheap ration, over a dozen other things you are spending on. This is just an add-on, this (income support) is not something being thrown in the air. The Congress doesn't understand it because it did nothing," he said.

On Gandhi's criticism of the Budget proposal, he said, "I think he needs to grow up. He must realise that he is contesting a national election not a college union one."

On his predecessor P Chidambaram's criticism that the interim budget was an "account for vote" and not a 'Vote on Account', he said, "I have no problem with monies being spent on either of these two accounts. But I have a serious problem when monies go into personal accounts."

Taking on the Congress, he said the comments by the leaders of the principal opposition party and "some other compulsive contrarians" indicate that they have a complete lack of understanding of the subject.

"Others have been in power much longer than we have been and did nothing. There is a real problem in India, both with regard to the urban-rural divide, which is reflective of the quality of life available in rural areas, and the state of agriculture. You have to look at both these issues compositely," he said.

Jaitley, who had to give up charge of the finance ministry to undergo medical treatment just weeks before the budget was presented, said the Congress gave just slogans like 'Garibi Hatao' (remove poverty) but delivered very little.

Dwelling on the steps taken by the BJP-led NDA government since coming to power in 2014 to address farm sector distress, he said the Centre adopted a two-pronged approach of raising rural infrastructure spend and raising farm incomes.&nbsp;

Union Minister Arun Jaitley Sunday hinted that the Rs 500 a month cash dole to small farmers may be increased in the future as the government's resources grow and said states can top up this amount with their own income support schemes.

Union Minister Arun Jaitley Sunday hinted that the Rs 500 a month cash dole to small farmers may be increased in the future as the government's resources grow and said states can top up this amount with their own income support schemes. He also slammed Congress President Rahul Gandhi for ridiculing the scheme announced in the Interim Budget for 2019-20 by equating it to Rs 17 a day dole, saying the opposition leader must "grow up" and realise that he is contesting a national election and not a college union poll. The plan to give Rs 6,000 cash to 12 crore small and marginal farmers every year together with government schemes for giving them a house, subsidised food, free healthcare and hospitalisation, free sanitation, electricity, roads, gas connections, twice the amount of credit at very cheap rate are all aimed at addressing farm distress, Jaitley told PTI in an interview here. "This is the first year where it (farmer income support scheme) has begun. I am sure as the government resources improve, this can be increased," he said. On nearly 15 crore landless farmers being left out of the scheme, he said they have rural employment guarantee scheme MNREGA plus other benefits for the rural population. "What is the biggest thing that the Congress claims that they ever did? (UPA regime Finance Minister) P Chidambaram announced a Rs 70,000 crore farm loan waiver... (but) actual distributed was only Rs 52,000 crore. (Also), CAG said a large part of that money went to traders and businessmen and converted itself into a fraud," he said. The present government, he said, is "starting off over and above the lakhs of crores we are putting into rural areas." "We are starting off with Rs 75,000 crore a year and I foresee this amount increasing in the years to come. And if the states top it up, some states have already started with the scheme, I think the others must emulate them, it will increase," he added. Jaitley, who is in New York for medical treatment, said the state governments too have a responsibility to address farm distress by bringing their own income support schemes. "Some state governments have started it," he said. "So my advise to what I call the 'Nawabs of Negativity' is ask your own state governments to top it off with their own income support schemes. Ideally, like the GST, this is a case where all political parties must defy party lines and in the spirit of cooperative federalism, have a Centre plus state scheme." He said most of the central schemes are divided into 60:40 ratio, so "let us enhance this to 60:40 in the spirit of cooperative federalism" and instead of "giving criticism, let the states give 40 (per cent)." "In addition to the fertiliser subsidy - another big amount, the healthcare, cheap ration, over a dozen other things you are spending on. This is just an add-on, this (income support) is not something being thrown in the air. The Congress doesn't understand it because it did nothing," he said. On Gandhi's criticism of the Budget proposal, he said, "I think he needs to grow up. He must realise that he is contesting a national election not a college union one." On his predecessor P Chidambaram's criticism that the interim budget was an "account for vote" and not a 'Vote on Account', he said, "I have no problem with monies being spent on either of these two accounts. But I have a serious problem when monies go into personal accounts." Taking on the Congress, he said the comments by the leaders of the principal opposition party and "some other compulsive contrarians" indicate that they have a complete lack of understanding of the subject. "Others have been in power much longer than we have been and did nothing. There is a real problem in India, both with regard to the urban-rural divide, which is reflective of the quality of life available in rural areas, and the state of agriculture. You have to look at both these issues compositely," he said. Jaitley, who had to give up charge of the finance ministry to undergo medical treatment just weeks before the budget was presented, said the Congress gave just slogans like 'Garibi Hatao' (remove poverty) but delivered very little. Dwelling on the steps taken by the BJP-led NDA government since coming to power in 2014 to address farm sector distress, he said the Centre adopted a two-pronged approach of raising rural infrastructure spend and raising farm incomes.

Arun Jaitley hints at raising Rs 500 a month cash support to farmers in future

Union Minister <a href="http://www.wionews.com/india-news/will-present-an-interim-budget-clarifies-finance-ministry-193892">Arun Jaitley</a> Sunday said his medical treatment at a US hospital is all over but hinted that he may not return to India in time to reply to the debate on <a href="http://www.wionews.com/india-general-elections-2019/it-was-not-an-interim-budget-but-a-full-fledged-budget-chidambaram-194383">Interim Budget in Parliament.&nbsp;</a>

Jaitley, 66, had missed presenting the sixth and final budget of the Narendra Modi government's present term as he had to fly to the US due to ill health.&nbsp;

In his absence, the charge of the finance ministry was given to Railway Minister Piyush Goyal, who on February 1 presented the Interim Budget for 2019-20 financial year.&nbsp;

Jaitley had on the Budget day stated that he would be back in India soon. 
&nbsp; 
In an interview to PTI here, he said he was on recovery course and his return to India in time to reply to the <a href="http://www.wionews.com/business-economy/ndas-interim-budget-on-friday-likely-to-offer-some-hope-and-relief-194176">Budget </a>debate in Parliament will depend on when his doctors allow him to leave.&nbsp;

"It depends on after my treatment here, which is all over. I am on the recovery course. It's when my doctors allow me to go back. As of present, as I understand, Piyush Goyal will be replying (to the Budget debate in Parliament)," he said.&nbsp;

Jaitley had last month flown here for treatment of an unstated illness. Neither he nor the government has commented on the nature of his illness but reports suggest he was suffering from soft tissue cancer and had to be operated upon.&nbsp;

This is his first overseas visit after he underwent renal transplant surgery on May 14, 2018, at AIIMS. That time too, Goyal was given the additional charge of the finance ministry.

Jaitley, who had stopped attending office at the beginning of April, was back in North Block — the seat of the finance ministry — on August 23.&nbsp;

He had in September 2014 undergone a bariatric surgery to treat weight gain that he suffered because of a long-standing diabetic condition.

Union Minister Arun Jaitley Sunday said his medical treatment at a US hospital is all over but hinted that he may not return to India in time to reply to the debate on Interim Budget in Parliament.

Union Minister Arun Jaitley Sunday said his medical treatment at a US hospital is all over but hinted that he may not return to India in time to reply to the debate on Interim Budget in Parliament. Jaitley, 66, had missed presenting the sixth and final budget of the Narendra Modi government's present term as he had to fly to the US due to ill health. In his absence, the charge of the finance ministry was given to Railway Minister Piyush Goyal, who on February 1 presented the Interim Budget for 2019-20 financial year. Jaitley had on the Budget day stated that he would be back in India soon. In an interview to PTI here, he said he was on recovery course and his return to India in time to reply to the Budget debate in Parliament will depend on when his doctors allow him to leave. "It depends on after my treatment here, which is all over. I am on the recovery course. It's when my doctors allow me to go back. As of present, as I understand, Piyush Goyal will be replying (to the Budget debate in Parliament)," he said. Jaitley had last month flown here for treatment of an unstated illness. Neither he nor the government has commented on the nature of his illness but reports suggest he was suffering from soft tissue cancer and had to be operated upon. This is his first overseas visit after he underwent renal transplant surgery on May 14, 2018, at AIIMS. That time too, Goyal was given the additional charge of the finance ministry. Jaitley, who had stopped attending office at the beginning of April, was back in North Block — the seat of the finance ministry — on August 23. He had in September 2014 undergone a bariatric surgery to treat weight gain that he suffered because of a long-standing diabetic condition.

Arun Jaitley indicates won't be back in India to reply to Budget debate

Rejecting claims about high unemployment in India as “disinformation”, Union Minister Arun Jaitley on Friday said it would be “economic absurdity” to believe that jobs are not being created at a time when the country is witnessing high economic growth.

Jaitley, who could not present the interim Budget because of his indisposition, also defended the budgetary provision of Rs 6000 for each marginal farmer which has been mocked by the Opposition as a meagre amount, saying it is meant to be an “additional support” to the agriculturists.

In an interview to ANI here, he underlined that the Narendra Modi government had efficiently maintained the fiscal discipline as the fiscal deficit and Current Account Deficit (CAD) have been contained and inflation has been reduced drastically while GDP kept growing.

"Our fiscal deficit, we inherited about, 4.5-4.6 per cent, which is now down to 3.4 %, we had targeted 3.3 % but because of the last minute adjustments in the farm sector, we had to make 0.1 % compromise," he said.

He was asked about the ‘leaked report’ of the National Sample Survey Office (NSSO) which said there was unprecedented unemployment in the country, “I don’t think it is a report. It is a draft which has not been approved,” he replied.

Jaitley, the Finance Minister since 2014 whose charge has been temporarily given to Piyush Goyal, said it would be “economic absurdity to say that there are no jobs” when the country is witnessing high economic growth rate.“I completely refute (claims about joblessness),” he said.

While terming the contention as “disinformation”.He said if there was such acute joblessness as projected, there would have been agitation, which is not the case.

Talking about the budgetary provision of Rs 6000 each for marginal farmers, Jaitley said it is an additional support to the agriculturists.

Reacting to the Opposition mocking the amount as being meagre, he said they should stop shedding “crocodile tears for the farmers”.

Noting that the provision will involve annual outlay of Rs 75,000 crore, the senior minister said this allocation is for the first year which can increase in the future.

Jaitley emphasised that loan waivers are not a solution to the farmers’ woes but acknowledged that India’s farm sector still needs support.

Attacking the Congress, Jaitley questioned what the UPA government had done during its 10-year rule."What did the UPA do in 10 years of power- a onetime loan waiver of 70,000 crores. Only 52,ooo crores were waived.&nbsp;

And the CAG report was that, out of the 52,ooo crores a significant part went to the traders and businessmen and not to the farmers. &nbsp;So a political group or a party which came out with a national hoax of this kind has the audacity to say that a scheme like this at a pan-India level is too little, " he said."Please don’t shed crocodile tears today for the farmers.&nbsp;

The opposition also has several governments, let them announce similar schemes, I am sure the other governments within their fiscal space will also consider this and therefore you can top it off. And it is not like this is the sole prerogative or the responsibility of the Centre, we are in a cooperative federalism both Centre and state must cooperate.&nbsp;

This is a huge amount we are doing and we are now as against a onetime loan waiver of 52,000 cr which was partly eaten by traders and businessmen. This is 75,000 cr in the first year itself, I am sure it will expand in future years," he added.

Asked to comment on criticism that the interim Budget presented on Friday was aimed at wooing the voters in the upcoming Lok Sabha elections, Jaitley said, “Budgets are a part of Parliamentary democracy, so are the elections.”Citing the previous examples of populist budgets, he said in 2009 and 2014 the then Finance Ministers of UPA governments Pranab Mukherjee and P. Chidambaram had announced stimulus packages.

&nbsp;"In the 2009 interim budget, Mr. Paranab Mukherjee, not even in the interim budget, but while replying to it announced a stimulus package, where he reduced the excise duty to 2 per cent across the board, well the same argument was applicable then? In 2014 Mr. Chidambaram on a number of products including engineering products and automobiles gave a duty rebate, the same argument can be taken now?" he asked.

He also refuted allegations of any agrarian crisis in the nation and said, " I guess by saying crisis, we are overstating it. the Indian farmer is really the producer of our food, his productivity levels have immensely improved and therefore in the last few decades we have seen shortages becoming into surpluses.

&nbsp;Four years ago pulses were in shortage, he is now producing in surpluses. Now he gets hit because he is producing more and the cost goes down and therefore world over, even the US is subsidizing its farmers, the EU is subsidizing there farmers ."

"Everywhere you maintain a balance between food prices and subsidizing the framers so that the farmer gets the incentive for producing something.

I think our farm sector still needs support and I am quite sure if the Centre and the states come together, with these kinds of programs, rather than mere myopic slogans, which really will not give long term sustenance to the farmers, &nbsp;it can certainly achieve a lot more," he added.

He saw no wrong if the middle class, which is a big chunk in India, gets some help through a budgetary exercise."The kind of fiscal space that we have created enables us to help the middle class and mind you India`s middle class is being very vastly strengthened.

&nbsp;I recently went through a study; Which said in 2005, &nbsp;we had 18 % middle class, in 2015 it was 29 %, in 2025 it is projected to be 44 %," he said."So within a generation, you will see a large majority of Indians graduating into the middle class.

&nbsp;And if the UPA inflicted a 10% inflation on them, which we brought down, obviously the taxpayer also, his real value of money has declined and therefore exempting the smaller taxpayer and mind you his ability to spend more &nbsp;means a boost to the economy.

&nbsp;What given by a way of direct tax benefit also comes back by a way of indirect taxes &nbsp;because the purchasing power of the India`s middle class has improved," he added. &nbsp;(ANI)&nbsp; 
&nbsp;

Rejecting claims about high unemployment in India as “disinformation”, Union Minister Arun Jaitley on Friday said it would be “economic absurdity” to believe that jobs are not being created at a time when the country is witnessing high economic growth.

Rejecting claims about high unemployment in India as “disinformation”, Union Minister Arun Jaitley on Friday said it would be “economic absurdity” to believe that jobs are not being created at a time when the country is witnessing high economic growth. Jaitley, who could not present the interim Budget because of his indisposition, also defended the budgetary provision of Rs 6000 for each marginal farmer which has been mocked by the Opposition as a meagre amount, saying it is meant to be an “additional support” to the agriculturists. In an interview to ANI here, he underlined that the Narendra Modi government had efficiently maintained the fiscal discipline as the fiscal deficit and Current Account Deficit (CAD) have been contained and inflation has been reduced drastically while GDP kept growing. "Our fiscal deficit, we inherited about, 4.5-4.6 per cent, which is now down to 3.4 %, we had targeted 3.3 % but because of the last minute adjustments in the farm sector, we had to make 0.1 % compromise," he said. He was asked about the ‘leaked report’ of the National Sample Survey Office (NSSO) which said there was unprecedented unemployment in the country, “I don’t think it is a report. It is a draft which has not been approved,” he replied. Jaitley, the Finance Minister since 2014 whose charge has been temporarily given to Piyush Goyal, said it would be “economic absurdity to say that there are no jobs” when the country is witnessing high economic growth rate.“I completely refute (claims about joblessness),” he said. While terming the contention as “disinformation”.He said if there was such acute joblessness as projected, there would have been agitation, which is not the case. Talking about the budgetary provision of Rs 6000 each for marginal farmers, Jaitley said it is an additional support to the agriculturists. Reacting to the Opposition mocking the amount as being meagre, he said they should stop shedding “crocodile tears for the farmers”. Noting that the provision will involve annual outlay of Rs 75,000 crore, the senior minister said this allocation is for the first year which can increase in the future. Jaitley emphasised that loan waivers are not a solution to the farmers’ woes but acknowledged that India’s farm sector still needs support. Attacking the Congress, Jaitley questioned what the UPA government had done during its 10-year rule."What did the UPA do in 10 years of power- a onetime loan waiver of 70,000 crores. Only 52,ooo crores were waived. And the CAG report was that, out of the 52,ooo crores a significant part went to the traders and businessmen and not to the farmers. So a political group or a party which came out with a national hoax of this kind has the audacity to say that a scheme like this at a pan-India level is too little, " he said."Please don’t shed crocodile tears today for the farmers. The opposition also has several governments, let them announce similar schemes, I am sure the other governments within their fiscal space will also consider this and therefore you can top it off. And it is not like this is the sole prerogative or the responsibility of the Centre, we are in a cooperative federalism both Centre and state must cooperate. This is a huge amount we are doing and we are now as against a onetime loan waiver of 52,000 cr which was partly eaten by traders and businessmen. This is 75,000 cr in the first year itself, I am sure it will expand in future years," he added. Asked to comment on criticism that the interim Budget presented on Friday was aimed at wooing the voters in the upcoming Lok Sabha elections, Jaitley said, “Budgets are a part of Parliamentary democracy, so are the elections.”Citing the previous examples of populist budgets, he said in 2009 and 2014 the then Finance Ministers of UPA governments Pranab Mukherjee and P. Chidambaram had announced stimulus packages. "In the 2009 interim budget, Mr. Paranab Mukherjee, not even in the interim budget, but while replying to it announced a stimulus package, where he reduced the excise duty to 2 per cent across the board, well the same argument was applicable then? In 2014 Mr. Chidambaram on a number of products including engineering products and automobiles gave a duty rebate, the same argument can be taken now?" he asked. He also refuted allegations of any agrarian crisis in the nation and said, " I guess by saying crisis, we are overstating it. the Indian farmer is really the producer of our food, his productivity levels have immensely improved and therefore in the last few decades we have seen shortages becoming into surpluses. Four years ago pulses were in shortage, he is now producing in surpluses. Now he gets hit because he is producing more and the cost goes down and therefore world over, even the US is subsidizing its farmers, the EU is subsidizing there farmers ." "Everywhere you maintain a balance between food prices and subsidizing the framers so that the farmer gets the incentive for producing something. I think our farm sector still needs support and I am quite sure if the Centre and the states come together, with these kinds of programs, rather than mere myopic slogans, which really will not give long term sustenance to the farmers, it can certainly achieve a lot more," he added. He saw no wrong if the middle class, which is a big chunk in India, gets some help through a budgetary exercise."The kind of fiscal space that we have created enables us to help the middle class and mind you India`s middle class is being very vastly strengthened. I recently went through a study; Which said in 2005, we had 18 % middle class, in 2015 it was 29 %, in 2025 it is projected to be 44 %," he said."So within a generation, you will see a large majority of Indians graduating into the middle class. And if the UPA inflicted a 10% inflation on them, which we brought down, obviously the taxpayer also, his real value of money has declined and therefore exempting the smaller taxpayer and mind you his ability to spend more means a boost to the economy. What given by a way of direct tax benefit also comes back by a way of indirect taxes because the purchasing power of the India`s middle class has improved," he added. (ANI)

Claims on joblessness economic absurdity: Arun Jaitley

Union minister Arun Jaitley who presided over the previous <a href="http://www.wionews.com/india-news/big-takeaways-from-union-budget-2019-194331">four Budgets of the NDA government </a>said the economic reforms undertaken by the government unshackled the Indian economy, calling the 2019 Budget "pro-growth, fiscally prudent, pro-farmer, pro-poor."

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The Interim Budget (2019) and a five year direction <a href="https://t.co/xWL5KjRwcl">https://t.co/xWL5KjRwcl</a>
— Arun Jaitley (@arunjaitley) <a href="https://twitter.com/arunjaitley/status/1091285435056312320?ref_src=twsrc%5Etfw">February 1, 2019</a></blockquote>
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Jaitley is currently in the United States after undergoing surgery at a hospital in New York. He had left for the US last month, in his absence Piyush Goyal presented the interim Budget today.

<a href="http://www.wionews.com/business-economy/budget-2019-full-text-of-finance-minister-piyush-goyals-speech-in-parliament-194373">Budget 2019: Full text of finance minister Piyush Goyal's speech in Parliament</a>

"Interim Budgets are also an opportunity for the government of the day to introspect their performance of the last five years and place its facts before the people," he said, while adding,"the future vision is to make India a $5 trillion economy. By the middle of the next decade we will achieve this and thereafter, target doubling that size of the economy."

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Last year the Government restored the benefit of Standard Deduction to salaried taxpayer at Rs.40,000/-. This year this benefit is being extended to Rs.50,000/-.
— Arun Jaitley (@arunjaitley) <a href="https://twitter.com/arunjaitley/status/1091287474305990656?ref_src=twsrc%5Etfw">February 1, 2019</a></blockquote>
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Jaitley in a tweet said that the <a href="http://www.wionews.com/business-economy/budget-2019-income-tax-refunds-to-be-processed-within-24-hours-says-fm-194308">Budget expanded spending</a> while pragmatically sticking to fiscal prudence. He complimented Piyush Goyal for delivering an "excellent Budget".

"Higher direct and indirect tax collections in 2016-17 and 2017-18 are an indicator of high growth in those two years. Growth is based on estimates, but tax collections are real."&nbsp;

"GST has already brought down most taxes on goods from 31% tax to the 18%, 12% and the 5% bracket," he asserted. "Never in the history of India during the five-year tenure of a government we have witnessed tax reduction and a middle class relief of this magnitude," Jaitley added.

Jaitley while speaking to ANI said: "What did the UPA do in their 10 years in power? A one-time loan waiver of Rs 70,000 crores. Only 52,000 crores were waived off and CAG report was that out of that Rs 52,000 crore a significant part of the money went to traders and businessmen and not to farmers."

"Now look at what we've been doing. Rural roads - 91% completed, rural housing - 2022 everyone will have a roof, 98.7% people in rural areas now have sanitation, every willing home is having electricity, every man has switched over the cooking methods," he said.

 
&nbsp;

Union minister Arun Jaitley who presided over the previous four Budgets of the NDA government said the economic reforms undertaken by the government unshackled the Indian economy, calling the 2019 Budget "pro-growth, fiscally prudent, pro-farmer, pro-poor.

Union minister Arun Jaitley who presided over the previous four Budgets of the NDA government said the economic reforms undertaken by the government unshackled the Indian economy, calling the 2019 Budget "pro-growth, fiscally prudent, pro-farmer, pro-poor." The Interim Budget (2019) and a five year direction https://t.co/xWL5KjRwcl — Arun Jaitley (@arunjaitley) February 1, 2019 × Jaitley is currently in the United States after undergoing surgery at a hospital in New York. He had left for the US last month, in his absence Piyush Goyal presented the interim Budget today. Budget 2019: Full text of finance minister Piyush Goyal's speech in Parliament "Interim Budgets are also an opportunity for the government of the day to introspect their performance of the last five years and place its facts before the people," he said, while adding,"the future vision is to make India a $5 trillion economy. By the middle of the next decade we will achieve this and thereafter, target doubling that size of the economy." Last year the Government restored the benefit of Standard Deduction to salaried taxpayer at Rs.40,000/-. This year this benefit is being extended to Rs.50,000/-. — Arun Jaitley (@arunjaitley) February 1, 2019 × Jaitley in a tweet said that the Budget expanded spending while pragmatically sticking to fiscal prudence. He complimented Piyush Goyal for delivering an "excellent Budget". "Higher direct and indirect tax collections in 2016-17 and 2017-18 are an indicator of high growth in those two years. Growth is based on estimates, but tax collections are real." "GST has already brought down most taxes on goods from 31% tax to the 18%, 12% and the 5% bracket," he asserted. "Never in the history of India during the five-year tenure of a government we have witnessed tax reduction and a middle class relief of this magnitude," Jaitley added. Jaitley while speaking to ANI said: "What did the UPA do in their 10 years in power? A one-time loan waiver of Rs 70,000 crores. Only 52,000 crores were waived off and CAG report was that out of that Rs 52,000 crore a significant part of the money went to traders and businessmen and not to farmers." "Now look at what we've been doing. Rural roads - 91% completed, rural housing - 2022 everyone will have a roof, 98.7% people in rural areas now have sanitation, every willing home is having electricity, every man has switched over the cooking methods," he said.

Higher direct and indirect tax collections indicator of high growth in last two years: Jaitley

The government will unveil its<a href="http://www.wionews.com/business-economy/ndas-interim-budget-on-friday-likely-to-offer-some-hope-and-relief-194176">&nbsp;budget&nbsp;for the 2019-20 fiscal year </a>on Friday, with investors expecting increased investment in areas such as agriculture, as Prime Minister Narendra Modi tries to woo voters ahead of general elections to be held by May.

After a string of recent setbacks in key state elections for Modi's Bharatiya Janata Party (BJP), the government is expected to woo rural and urban middle-class voters via farm relief measures and tax cuts.

Also read: <a href="http://www.wionews.com/business-economy/budget-2019-what-is-interim-budget-and-how-is-it-different-from-the-regular-one-193702">What is interim Budget and how is it different from the regular one?</a>

The government is expected to project economic growth of around 7.5 per cent for the next financial year while expanding capital spending on railways, roads and ports by 7-8 per cent.

Also read: <a href="http://www.wionews.com/business-economy/union-budget-2019-how-it-is-formulated-and-presented-194051">How Union Budget 2019 is formulated and presented</a>

Below is a list of some of the items expected in the&nbsp;budget, based on published media reports.

AGRICULTURE

Farm relief package itself could run to at least 1 trillion rupees ($14.04 billion)

Set to earmark about 1.8 trillion rupees for food subsidies in the fiscal year

Expected to waive premium for taking insurance policy for food crops

Proposal for waiving interest on crop loans for farmers who pay on time

DIVESTMENT

Target of about $11 billion from state asset sales in FY 2019-20

Potential stake sales via IPOs include Telecommunications Consultants India, Indian Railways' subsidiaries IRCTC, RailTel Corp India and National Seeds Corp

METALS

Gold - Speculation around a duty cut

HEALTH

Budget&nbsp;allocation for health is likely to increase by 5 per cent from a year ago

Taxes

An anticipated corporate tax rate cut to 25 per cent from 30 per cent may be put on hold until after the elections

Higher tax exemptions for the middle class and for small businesses anticipated

BANKS

Discount of 2 percentage points on loans for businesses with annual sales of less than 50 million rupees; government to compensate banks for the costs

40 billion-rupee capital infusion for public-sector general insurers

AUTOS

Reduction of goods and services tax (GST) on electric vehicles and batteries

IT/TELECOM

Better digital infrastructure in rural areas

Abolition of the angel tax to boost start-ups

Exemption from GST for spectrum and licence fee payouts, reduction in spectrum fees and cuts in import duty on telecom equipment (currently at 20 pct)

The government will unveil its budget for the 2019-20 fiscal year on Friday, with investors expecting increased investment in areas such as agriculture, as Prime Minister Narendra Modi tries to woo voters ahead of general elections to be held by May.

The government will unveil its budget for the 2019-20 fiscal year on Friday, with investors expecting increased investment in areas such as agriculture, as Prime Minister Narendra Modi tries to woo voters ahead of general elections to be held by May. After a string of recent setbacks in key state elections for Modi's Bharatiya Janata Party (BJP), the government is expected to woo rural and urban middle-class voters via farm relief measures and tax cuts. Also read: What is interim Budget and how is it different from the regular one? The government is expected to project economic growth of around 7.5 per cent for the next financial year while expanding capital spending on railways, roads and ports by 7-8 per cent. Also read: How Union Budget 2019 is formulated and presented Below is a list of some of the items expected in the budget, based on published media reports. AGRICULTURE Farm relief package itself could run to at least 1 trillion rupees ($14.04 billion) Set to earmark about 1.8 trillion rupees for food subsidies in the fiscal year Expected to waive premium for taking insurance policy for food crops Proposal for waiving interest on crop loans for farmers who pay on time DIVESTMENT Target of about $11 billion from state asset sales in FY 2019-20 Potential stake sales via IPOs include Telecommunications Consultants India, Indian Railways' subsidiaries IRCTC, RailTel Corp India and National Seeds Corp METALS Gold - Speculation around a duty cut HEALTH Budget allocation for health is likely to increase by 5 per cent from a year ago Taxes An anticipated corporate tax rate cut to 25 per cent from 30 per cent may be put on hold until after the elections Higher tax exemptions for the middle class and for small businesses anticipated BANKS Discount of 2 percentage points on loans for businesses with annual sales of less than 50 million rupees; government to compensate banks for the costs 40 billion-rupee capital infusion for public-sector general insurers AUTOS Reduction of goods and services tax (GST) on electric vehicles and batteries IT/TELECOM Better digital infrastructure in rural areas Abolition of the angel tax to boost start-ups Exemption from GST for spectrum and licence fee payouts, reduction in spectrum fees and cuts in import duty on telecom equipment (currently at 20 pct)

Key expectations from India's 2019-20 interim budget

The Finance Ministry clarified on Wednesday that the 2019 Budget presented by the government&nbsp;will be an <a href="http://www.wionews.com/business-economy/budget-2019-what-is-interim-budget-and-how-is-it-different-from-the-regular-one-193702">Interim Budget</a>.

The clarification came amid reports that stated that the Finance Minister has asked its staff to refer to the upcoming <a href="http://www.wionews.com/business-economy/fiscal-deficit-cut-motion-guillotine-terms-to-know-for-budget-193703">Budget </a>as a General Budget.

The provisional calendar released by the Lok Sabha has also categorised the event as an Interim Budget.

With 2019 being an election year, the Budget presented by the government will be an interim one as during election years&nbsp;the newly elected government presents the full Budget around July.

The Budget will be presented by Piyush Goyal on February 1.

Goyal has been given a temporary charge of the Finance Ministry in the absence of Arun Jaitley.

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Finance Ministry clarifies that this budget will be 'Interim Budget 2019-20'. <a href="https://t.co/jr3mQhlGQ7">pic.twitter.com/jr3mQhlGQ7</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1090530711860334592?ref_src=twsrc%5Etfw">January 30, 2019</a></blockquote>
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In an election year, the incumbent government usually presents vote-on-account in Parliament which enables the government machinery to meet important expenses of administration, like salaries etc. The vote-on-account is usually for a period of three-four months and is meant to provide a smooth transition for the next government; it gives time to Parliament when it reconstitutes after the elections to discuss and pass the full Budget and allocate money accordingly.

The Modi government has indicated that this year's Budget will not be a vote-on-account but an interim one. While the vote-on-account deals only with the expenditure side of the Budget, an interim Budget has both expenditure and receipts and gives the complete financial statement, much like a full Budget.

&nbsp;

&nbsp;

The Finance Ministry clarified on Wednesday that the 2019 Budget presented by the government will be an Interim Budget. The clarification came amid reports that stated that the Finance Minister has asked its staff to refer to the upcoming Budget as a General Budget.

The Finance Ministry clarified on Wednesday that the 2019 Budget presented by the government will be an Interim Budget. The clarification came amid reports that stated that the Finance Minister has asked its staff to refer to the upcoming Budget as a General Budget. The provisional calendar released by the Lok Sabha has also categorised the event as an Interim Budget. With 2019 being an election year, the Budget presented by the government will be an interim one as during election years the newly elected government presents the full Budget around July. The Budget will be presented by Piyush Goyal on February 1. Goyal has been given a temporary charge of the Finance Ministry in the absence of Arun Jaitley. Finance Ministry clarifies that this budget will be 'Interim Budget 2019-20'. pic.twitter.com/jr3mQhlGQ7 — ANI (@ANI) January 30, 2019 × In an election year, the incumbent government usually presents vote-on-account in Parliament which enables the government machinery to meet important expenses of administration, like salaries etc. The vote-on-account is usually for a period of three-four months and is meant to provide a smooth transition for the next government; it gives time to Parliament when it reconstitutes after the elections to discuss and pass the full Budget and allocate money accordingly. The Modi government has indicated that this year's Budget will not be a vote-on-account but an interim one. While the vote-on-account deals only with the expenditure side of the Budget, an interim Budget has both expenditure and receipts and gives the complete financial statement, much like a full Budget.

Will present an interim Budget, clarifies Finance Ministry

Interim Finance Minister Piyush Goyal who has been given a temporary charge of the ministry to fill in for Arun Jaitley said on Friday that Jaitely was in good health and is recovering rapidly.

The government has however not commented on Jaitely's conditions.

Arun Jaitley who is currently in New York underwent surgery at a hospital on Tuesday.

He has been advised at least two weeks of rest by the doctors, sources said.&nbsp;

Jaitley had travelled to the US on January 13 and had undergone tests for soft tissue cancer this week.

In his absence Goyal is likely to present the interim Budget, PTI reported citing sources.

(With inputs from agencies)

Interim Finance Minister Piyush Goyal who has been given a temporary charge of the ministry to fill in for Arun Jaitley said on Friday that Jaitely was in good health and is recovering rapidly.

Interim Finance Minister Piyush Goyal who has been given a temporary charge of the ministry to fill in for Arun Jaitley said on Friday that Jaitely was in good health and is recovering rapidly. The government has however not commented on Jaitely's conditions. Arun Jaitley who is currently in New York underwent surgery at a hospital on Tuesday. He has been advised at least two weeks of rest by the doctors, sources said. Jaitley had travelled to the US on January 13 and had undergone tests for soft tissue cancer this week. In his absence Goyal is likely to present the interim Budget, PTI reported citing sources. (With inputs from agencies)

Arun Jaitley in good health, recovering rapidly: Piyush Goyal

Piyush Goyal is likely to present the interim Budget on February 1 as he was Wednesday given the <a href="http://www.wionews.com/india-news/railway-minister-piyush-goyal-given-additional-charge-of-finance-ministry-as-jaitley-gets-medical-treatment-192328">additional charge of finance ministr</a>y as Arun Jaitley is in the US for medical treatment, sources said.

Jaitley has undergone surgery at a hospital in New York on Tuesday and has been advised at least two weeks rest by the doctors, sources said. Jaitley, who had travelled to the US on January 13, has undergone tests for soft tissue cancer this week.

Ahead of the interim budget scheduled to be presented on February 1, Railways Minister Piyush Goyal has been given additional charge of Finance and Corporate Affairs ministries.&nbsp;

An official release from the Rashtrapati Bhavan Wednesday said the President, as advised by Prime Minister Narendra Modi, directed that during the period of Jaitley's indisposition, the portfolios of the Minister of Finance and the Minister of Corporate Affairs, held by him, be temporarily assigned to Goyal, in addition to his existing portfolios.

Goyal is likely to present the interim Budget, according to sources.

The budget comes ahead of the general elections and the government is expected to make some key announcements, including relief package for farmers, poor and sops for middle-class.

Jaitley has been designated as a minister without portfolio during the period of his indisposition or till such time when he is able to resume his work as the Minister of Finance and the Minister of Corporate Affairs.&nbsp;

Rajya Sabha Member Goyal also holds the coal portfolio.

This for the second time that Goyal has been given the additional charge of the Finance Ministry.

In May last year, Goyal was given the additional charge of the ministry after Jaitley underwent a kidney transplant surgery.

Later after a gap of four months, Jaitley resumed the office of the Finance Minister.

Jaitley had also undergone a bariatric surgery soon after the BJP government came to power at the Centre in 2014. The surgery, to treat weight gain that he suffered because of a long-standing diabetic condition, was first performed at Max Hospital, but he then had to be shifted to AIIMS because of complications.

The ruling BJP has recently appointed Jaitley as in-charge of publicity for the upcoming Lok Sabha elections. Jaitley, a senior member of the ruling party, has presented five budgets of the current regime.&nbsp;

Piyush Goyal is likely to present the interim Budget on February 1 as he was Wednesday given the additional charge of finance ministry as Arun Jaitley is in the US for medical treatment, sources said.

Piyush Goyal is likely to present the interim Budget on February 1 as he was Wednesday given the additional charge of finance ministry as Arun Jaitley is in the US for medical treatment, sources said. Jaitley has undergone surgery at a hospital in New York on Tuesday and has been advised at least two weeks rest by the doctors, sources said. Jaitley, who had travelled to the US on January 13, has undergone tests for soft tissue cancer this week. Ahead of the interim budget scheduled to be presented on February 1, Railways Minister Piyush Goyal has been given additional charge of Finance and Corporate Affairs ministries. An official release from the Rashtrapati Bhavan Wednesday said the President, as advised by Prime Minister Narendra Modi, directed that during the period of Jaitley's indisposition, the portfolios of the Minister of Finance and the Minister of Corporate Affairs, held by him, be temporarily assigned to Goyal, in addition to his existing portfolios. Goyal is likely to present the interim Budget, according to sources. The budget comes ahead of the general elections and the government is expected to make some key announcements, including relief package for farmers, poor and sops for middle-class. Jaitley has been designated as a minister without portfolio during the period of his indisposition or till such time when he is able to resume his work as the Minister of Finance and the Minister of Corporate Affairs. Rajya Sabha Member Goyal also holds the coal portfolio. This for the second time that Goyal has been given the additional charge of the Finance Ministry. In May last year, Goyal was given the additional charge of the ministry after Jaitley underwent a kidney transplant surgery. Later after a gap of four months, Jaitley resumed the office of the Finance Minister. Jaitley had also undergone a bariatric surgery soon after the BJP government came to power at the Centre in 2014. The surgery, to treat weight gain that he suffered because of a long-standing diabetic condition, was first performed at Max Hospital, but he then had to be shifted to AIIMS because of complications. The ruling BJP has recently appointed Jaitley as in-charge of publicity for the upcoming Lok Sabha elections. Jaitley, a senior member of the ruling party, has presented five budgets of the current regime.

Piyush Goyal likely to present Interim Budget after he gets additional charge of Finance Ministry

Dismissing opposition parties 'Mahagathbandhan' as unviable and unworkable,<a href="https://www.google.com/url?q=http://www.wionews.com/business-economy/food-surpluses-have-led-to-dip-in-farmers-income-jaitley-191111&amp;sa=U&amp;ved=0ahUKEwjX1vvH8v7fAhUUVH0KHa3RDLkQFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw0JsTIDJmAhKbzMD-_G7iGJ">&nbsp;finance&nbsp;minister Arun Jaitley</a> Monday said its going to be advantage BJP in the next general election as an aspirational society will not commit a "collective suicide" by voting for a short-lived political alliance.

The two-fold strategy of the opposition parties for the 2019 general elections is to pursue anti-Modi agenda and take advantage of the electoral arithmetic, he said in a Facebook post titled 'Agenda for 2019? Modi Vs Chaos'.

People are more intelligent than what many politicians think, Jaitley said, adding they will never choose chaos as an option.&nbsp;

"The BJP and NDA have to be prepared for a battle for a 50 per cent vote in the direct fight contest. The many States will still witness triangular contests. If a second term for Prime Minister Modi is the issue, it is advantage BJP. The election will be more presidential.&nbsp;

"If negativism is the political campaign in an aspirational nation, it won't work. If arithmetic is the only hope, the Modi chemistry can prevail over it," said Jaitley, who is currently in the US for a medical check-up.

Recalling the 1971 g<a href="https://www.google.com/url?q=http://www.wionews.com/india-news/as-elections-near-ram-temple-back-as-electoral-agenda-191280&amp;sa=U&amp;ved=0ahUKEwis1KHb8v7fAhUQVH0KHSEcCAwQFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw3-MBkPnAz9jBUqacgIqy7-">eneral elections</a>, Jaitley said the opposition had formed a 'Grand Alliance' or the 'Mahagathbandhan' teaming up against the then Prime Minister Indira Gandhi.

In 1971, he said: "We (Grand Alliance) had powerful leaders and a head-start in the media. Additionally, Congress had split into two... The results were announced, India rejected negativism. The India of 2019 has moved way ahead of India of 1971. Aspirational society never commits collective suicide. They do not suffer from Lemming Syndrome".

Lemming Syndrome refers to a phenomenon wherein crowds of people, imitate actions of each other just because they see a majority of their peers doing it.

"Will 2019 be a replica of 1971? It is Modi vs an unviable and an unworkable short-lived combination. OR is it Modi vs Chaos?? Jaitley wondered.

Stating that every general election has its own script that is dictated by the prevailing political environment, Jaitley said for 2019 political battle, India's opposition has a two-fold strategy, firstly, negative anti-Modi agenda and secondly, random political grouping to gain from the electoral arithmetic.

He said Opposition politics has thrown up four desirous Prime Ministers wishing to challenge <a href="https://www.google.com/url?q=http://www.wionews.com/india-news/cbi-chief-alok-verma-removed-by-pm-narendra-modi-led-panel-on-corruption-charges-189425&amp;sa=U&amp;ved=0ahUKEwjXkf_v8v7fAhVHNY8KHY6xCi0QFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw19NuBiegDDJpYz7hcZz8wy">Narendra Modi</a>.

"It is obvious that the level of satisfaction with PM Sh @narendramodi ji is very high. If that weren't so, what was the need for multiple disparate forces to come together against him? It is only the fear of his popularity &amp; a certain comeback that is bringing them together," Jaitley said.

He said the anti-Modi rally organised by Opposition parties in Kolkata, became significantly "a non-Rahul Gandhi rally," by his conspicuous absence.

"All four ambitious politicians pursue fanciful strategies to replace PM @narendramodi, however, Congress can at best dream only to be a pillion rider," Jaitley noted.&nbsp;

The opposition politics has thrown up four desirous Prime Ministers wishing to challenge Modi, he said.

"Two-third of those on stage (at Kolkata rally) were those who in the past have worked with the BJP. Some octogenarians reached Kolkata to satisfy their late-life ambitions. There was not a single speech reflecting the positive idea which the leaders proposed for the future.&nbsp;

"Negativism was writ large in their approach. The strategy of each of the four contenders (Mamata Banerjee, Rahul Gandhi, Mayawati and KCR) is clear... The individual strategy of each one of the above appears to be the same. Replace Modi and get on to the Driver's seat," Jaitley said.

Modi, Jaitley said, has singularly decimated all caste-based parties and dynastic political groups in 2014. "The opposition is making Prime Minister Modi's continuation in office as a key political issue. We in BJP welcome this agenda being set by the opposition," he said.

Dismissing opposition parties 'Mahagathbandhan' as unviable and unworkable, finance minister Arun Jaitley Monday said its going to be advantage BJP in the next general election as an aspirational society will not commit a "collective suicide" by voting for a short-lived political alliance.

Dismissing opposition parties 'Mahagathbandhan' as unviable and unworkable, finance minister Arun Jaitley Monday said its going to be advantage BJP in the next general election as an aspirational society will not commit a "collective suicide" by voting for a short-lived political alliance. The two-fold strategy of the opposition parties for the 2019 general elections is to pursue anti-Modi agenda and take advantage of the electoral arithmetic, he said in a Facebook post titled 'Agenda for 2019? Modi Vs Chaos'. People are more intelligent than what many politicians think, Jaitley said, adding they will never choose chaos as an option. "The BJP and NDA have to be prepared for a battle for a 50 per cent vote in the direct fight contest. The many States will still witness triangular contests. If a second term for Prime Minister Modi is the issue, it is advantage BJP. The election will be more presidential. "If negativism is the political campaign in an aspirational nation, it won't work. If arithmetic is the only hope, the Modi chemistry can prevail over it," said Jaitley, who is currently in the US for a medical check-up. Recalling the 1971 general elections, Jaitley said the opposition had formed a 'Grand Alliance' or the 'Mahagathbandhan' teaming up against the then Prime Minister Indira Gandhi. In 1971, he said: "We (Grand Alliance) had powerful leaders and a head-start in the media. Additionally, Congress had split into two... The results were announced, India rejected negativism. The India of 2019 has moved way ahead of India of 1971. Aspirational society never commits collective suicide. They do not suffer from Lemming Syndrome". Lemming Syndrome refers to a phenomenon wherein crowds of people, imitate actions of each other just because they see a majority of their peers doing it. "Will 2019 be a replica of 1971? It is Modi vs an unviable and an unworkable short-lived combination. OR is it Modi vs Chaos?? Jaitley wondered. Stating that every general election has its own script that is dictated by the prevailing political environment, Jaitley said for 2019 political battle, India's opposition has a two-fold strategy, firstly, negative anti-Modi agenda and secondly, random political grouping to gain from the electoral arithmetic. He said Opposition politics has thrown up four desirous Prime Ministers wishing to challenge Narendra Modi. "It is obvious that the level of satisfaction with PM Sh @narendramodi ji is very high. If that weren't so, what was the need for multiple disparate forces to come together against him? It is only the fear of his popularity & a certain comeback that is bringing them together," Jaitley said. He said the anti-Modi rally organised by Opposition parties in Kolkata, became significantly "a non-Rahul Gandhi rally," by his conspicuous absence. "All four ambitious politicians pursue fanciful strategies to replace PM @narendramodi, however, Congress can at best dream only to be a pillion rider," Jaitley noted. The opposition politics has thrown up four desirous Prime Ministers wishing to challenge Modi, he said. "Two-third of those on stage (at Kolkata rally) were those who in the past have worked with the BJP. Some octogenarians reached Kolkata to satisfy their late-life ambitions. There was not a single speech reflecting the positive idea which the leaders proposed for the future. "Negativism was writ large in their approach. The strategy of each of the four contenders (Mamata Banerjee, Rahul Gandhi, Mayawati and KCR) is clear... The individual strategy of each one of the above appears to be the same. Replace Modi and get on to the Driver's seat," Jaitley said. Modi, Jaitley said, has singularly decimated all caste-based parties and dynastic political groups in 2014. "The opposition is making Prime Minister Modi's continuation in office as a key political issue. We in BJP welcome this agenda being set by the opposition," he said.

2019 general elections: Its going to advantage BJP in polls, say finance minister Arun Jaitley

Union Finance Minister Arun Jaitley on Thursday hinted at the possibility of coming out with a full-fledged budget in February as compared to an interim or a vote-on-account budget.&nbsp;

Jaitley refrained from giving out any details about this year's budget but stated how it certainly will be more significant than just a vote-on-account version.&nbsp;

<a href="http://www.wionews.com/business-economy/food-surpluses-have-led-to-dip-in-farmers-income-jaitley-191111">Speaking a fortnight ahead of the Budget</a>, he underlined that there have been precedents of interim budgets containing major policy announcements to tackle an urgent situation.

He stated that the NDA government is under no pressure to present a populous budget ahead of the general elections. Economists have raised the fear that the government may announce populist measures ahead of elections, which may lead to a higher fiscal deficit.

The government has been moving on "a glide path" on the fiscal consolidation front unless some "unusual situation" demanded something, he said.

It can be noted that as per the data available till November, the government has already breached its budgeted fiscal deficit target of 3.3 per cent, the minister noted.&nbsp;

On the RBI, Jaitley said the government and the central bank have always had consultations despite some differences that played out recently, news agency PTI reported.

The government raising its concerns should not be construed as a breach of RBI's autonomy, as in a consultative process one has to express oneself freely and frankly, the finance minister said.&nbsp;

The finance minister, currently undergoing treatment in New York, was speaking through video conferencing at an award ceremony.

(With inputs from PTI)

Union Finance Minister Arun Jaitley on Thursday hinted at the possibility of coming out with a full-fledged budget in February as compared to an interim or a vote-on-account budget.

Union Finance Minister Arun Jaitley on Thursday hinted at the possibility of coming out with a full-fledged budget in February as compared to an interim or a vote-on-account budget. Jaitley refrained from giving out any details about this year's budget but stated how it certainly will be more significant than just a vote-on-account version. Speaking a fortnight ahead of the Budget, he underlined that there have been precedents of interim budgets containing major policy announcements to tackle an urgent situation. He stated that the NDA government is under no pressure to present a populous budget ahead of the general elections. Economists have raised the fear that the government may announce populist measures ahead of elections, which may lead to a higher fiscal deficit. The government has been moving on "a glide path" on the fiscal consolidation front unless some "unusual situation" demanded something, he said. It can be noted that as per the data available till November, the government has already breached its budgeted fiscal deficit target of 3.3 per cent, the minister noted. On the RBI, Jaitley said the government and the central bank have always had consultations despite some differences that played out recently, news agency PTI reported. The government raising its concerns should not be construed as a breach of RBI's autonomy, as in a consultative process one has to express oneself freely and frankly, the finance minister said. The finance minister, currently undergoing treatment in New York, was speaking through video conferencing at an award ceremony. (With inputs from PTI)

Jaitley hints interim budget could be bigger than vote on account

The health (or really the lack of it) of our politicians is a touchy topic in India. It either becomes a joke or it is not talked about. Neither position has served the country well.&nbsp;

The health of our leaders must be open to scrutiny and should be part of public knowledge.

In liberal western democracies, the health of a leader is a matter of public knowledge. Boris Yeltsin’s alcoholism for example was a public fact.&nbsp;

Indian politicians on the other hand have usually been cagey about their health. UPA chairperson Sonia Gandhi was criticised for not making details of her illness public despite the fact that she ran the government.&nbsp;

The details of former prime minister Manmohan Singh’s heart bypass surgery were on the other hand shared with the public and India came up with a makeshift mechanism while he was admitted to Delhi's All India Institute for Medical Sciences (AIIMS).

BK Hariprasad’s statement on BJP president Amit Shah was in poor taste and people have missed the larger issue.&nbsp;

One has to acknowledge that the news of Amit Shah’s illness — he was admitted to Delhi's AIIMS on Monday with swine flu, Hariprasad said he had "<a href="http://www.wionews.com/india-news/bjp-president-amit-shah-admitted-to-aiims-suffering-from-swine-flu-190820">suar</a><a href="http://www.wionews.com/india-news/bjp-president-amit-shah-admitted-to-aiims-suffering-from-swine-flu-190820"> ka </a><a href="http://www.wionews.com/india-news/bjp-president-amit-shah-admitted-to-aiims-suffering-from-swine-flu-190820">zukhaam</a>"&nbsp;— was not denied but instead confirmed by the party.&nbsp;

Even in the case of Goa Chief Minister Manohar Parrikar, the details of his ailment were shared with the public with maturity and grace. Even Foreign Minister Sushma Swaraj showed grace and political maturity in sharing with the public the details of the procedure she underwent.&nbsp;

This is recent.&nbsp;

On the other hand, the establishment seemed uneasy about discussing former prime minister Atal Bihari Vajpayee’s knees after they became public knowledge.

If you look at Narendra Modi’s campaign both pre- and post-poll, a frugal diet and yoga remain the common themes of the conversation around his daily schedule. Despite being in his 60's, Modi was able to harness an image of good health as his ability to serve his country better.&nbsp;

As has Putin.

It is not as if exceptions do not exist. FDR, president of the US during WW2, was paralysed from the waist down but not many pictures of him can be found in the papers. He ensured that his disability did not become a political issue.&nbsp;

Serving US presidents have also battled disease. Ronald Reagan was successfully treated for both skin and colon cancer while in office.

In India, politicians hide details of their health lest it becomes a prism through which they are perceived by the public.&nbsp;

Even health fads become politicised.&nbsp;

I remember a conversation I had (as part of a larger group of journalists) with Prime Minister Modi at Arun Jaitley’s residence.&nbsp;

Modi was speaking about an outsider making it to the country's top post vis a vis Lutyen’s Delhi which works like a "deep society" and is not kind enough to accommodate the views of people who come from other parts of the country. &nbsp;

"Former prime minister Morarji Desai did many things for the country but he is only remembered for one thing,” Modi said. Obviously, he was referring to Morarji's practice of imbibing his own urine, or what we in our childhood would call "Morarji cola”.&nbsp;

Both mental and physical health are important for a leader, and the nation must know about the health of those who govern them. The argument that disease is a private issue does not hold water here because people holding high office must show that they are fit enough to rule.&nbsp;

That also ensures that the system is not run through proxy.&nbsp;

The maturity that India has show in the past (in making the details of its leaders' health public) should be encouraged. The only safeguard needed is that a disability by itself should not bar a person from holding high office — it has not in the past.&nbsp;

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

&nbsp;

The health (or really the lack of it) of our politicians is a touchy topic in India. It either becomes a joke or it is not talked about. Neither position has served the country well.

The health (or really the lack of it) of our politicians is a touchy topic in India. It either becomes a joke or it is not talked about. Neither position has served the country well. The health of our leaders must be open to scrutiny and should be part of public knowledge. In liberal western democracies, the health of a leader is a matter of public knowledge. Boris Yeltsin’s alcoholism for example was a public fact. Indian politicians on the other hand have usually been cagey about their health. UPA chairperson Sonia Gandhi was criticised for not making details of her illness public despite the fact that she ran the government. The details of former prime minister Manmohan Singh’s heart bypass surgery were on the other hand shared with the public and India came up with a makeshift mechanism while he was admitted to Delhi's All India Institute for Medical Sciences (AIIMS). BK Hariprasad’s statement on BJP president Amit Shah was in poor taste and people have missed the larger issue. One has to acknowledge that the news of Amit Shah’s illness — he was admitted to Delhi's AIIMS on Monday with swine flu, Hariprasad said he had "suar ka zukhaam" — was not denied but instead confirmed by the party. Even in the case of Goa Chief Minister Manohar Parrikar, the details of his ailment were shared with the public with maturity and grace. Even Foreign Minister Sushma Swaraj showed grace and political maturity in sharing with the public the details of the procedure she underwent. This is recent. On the other hand, the establishment seemed uneasy about discussing former prime minister Atal Bihari Vajpayee’s knees after they became public knowledge. If you look at Narendra Modi’s campaign both pre- and post-poll, a frugal diet and yoga remain the common themes of the conversation around his daily schedule. Despite being in his 60's, Modi was able to harness an image of good health as his ability to serve his country better. As has Putin. It is not as if exceptions do not exist. FDR, president of the US during WW2, was paralysed from the waist down but not many pictures of him can be found in the papers. He ensured that his disability did not become a political issue. Serving US presidents have also battled disease. Ronald Reagan was successfully treated for both skin and colon cancer while in office. In India, politicians hide details of their health lest it becomes a prism through which they are perceived by the public. Even health fads become politicised. I remember a conversation I had (as part of a larger group of journalists) with Prime Minister Modi at Arun Jaitley’s residence. Modi was speaking about an outsider making it to the country's top post vis a vis Lutyen’s Delhi which works like a "deep society" and is not kind enough to accommodate the views of people who come from other parts of the country. "Former prime minister Morarji Desai did many things for the country but he is only remembered for one thing,” Modi said. Obviously, he was referring to Morarji's practice of imbibing his own urine, or what we in our childhood would call "Morarji cola”. Both mental and physical health are important for a leader, and the nation must know about the health of those who govern them. The argument that disease is a private issue does not hold water here because people holding high office must show that they are fit enough to rule. That also ensures that the system is not run through proxy. The maturity that India has show in the past (in making the details of its leaders' health public) should be encouraged. The only safeguard needed is that a disability by itself should not bar a person from holding high office — it has not in the past. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

The health of our leaders: The nation has a right to know

Amid speculation that the BJP-led central government may introduce an income support scheme, Finance Minister Arun Jaitley Thursday said food surpluses have caused both food prices and farmers' income to plunge, posing a policy challenge.

Speaking a fortnight ahead of the Budget, he underlined that there have been precedents of interim budgets containing major policy announcements to tackle an urgent situation.

"Our farmers have increased productivity and we have moved into a surplus area. Management of the surplus is constituting a challenge for us for the last several years...&nbsp;The prices have fallen," Jaitley said.

The finance minister, currently undergoing treatment in New York, was speaking through video conferencing at an award ceremony.

The fall in food prices in the last few months indicated the poor income farmers are making, he said.

"Situations like calamity, drought, stress...(spending to tackle them) can't be considered as populist expenditure," he said, exuding confidence that markets can distinguish between a populist measure and something driven by a compelling situation.

Stating that the government has notched up success in many areas but is also facing challenges, he said some of them need urgent action.

"Some of those challenges really can't afford to wait. Therefore, obviously, there will be a necessity to address some of them. It has happened in the past. Therefore, we intend working within the parameters of the conventions that exist," he said.

Jaitley, however, refrained from shedding more light on the government's plans ahead of the Budget.

The government has been moving on "a glide path" on the fiscal consolidation front unless some "unusual situation" demanded something, he said.

It can be noted that as per the data available till November, the government has already breached its budgeted fiscal deficit target of 3.3 per cent.

Economists have raised the fear that the government may announce populist measures ahead of elections, which may lead to a higher fiscal deficit.

On the RBI, Jaitley said the government and the central bank have always had consultations despite some differences that played out recently.

The government raising its concerns should not be construed as a breach of RBI's autonomy, as in a consultative process one has to express oneself freely and frankly, the finance minister said.&nbsp;

Amid speculation that the BJP-led central government may introduce an income support scheme, Finance Minister Arun Jaitley Thursday said food surpluses have caused both food prices and farmers' income to plunge, posing a policy challenge.

Amid speculation that the BJP-led central government may introduce an income support scheme, Finance Minister Arun Jaitley Thursday said food surpluses have caused both food prices and farmers' income to plunge, posing a policy challenge. Speaking a fortnight ahead of the Budget, he underlined that there have been precedents of interim budgets containing major policy announcements to tackle an urgent situation. "Our farmers have increased productivity and we have moved into a surplus area. Management of the surplus is constituting a challenge for us for the last several years... The prices have fallen," Jaitley said. The finance minister, currently undergoing treatment in New York, was speaking through video conferencing at an award ceremony. The fall in food prices in the last few months indicated the poor income farmers are making, he said. "Situations like calamity, drought, stress...(spending to tackle them) can't be considered as populist expenditure," he said, exuding confidence that markets can distinguish between a populist measure and something driven by a compelling situation. Stating that the government has notched up success in many areas but is also facing challenges, he said some of them need urgent action. "Some of those challenges really can't afford to wait. Therefore, obviously, there will be a necessity to address some of them. It has happened in the past. Therefore, we intend working within the parameters of the conventions that exist," he said. Jaitley, however, refrained from shedding more light on the government's plans ahead of the Budget. The government has been moving on "a glide path" on the fiscal consolidation front unless some "unusual situation" demanded something, he said. It can be noted that as per the data available till November, the government has already breached its budgeted fiscal deficit target of 3.3 per cent. Economists have raised the fear that the government may announce populist measures ahead of elections, which may lead to a higher fiscal deficit. On the RBI, Jaitley said the government and the central bank have always had consultations despite some differences that played out recently. The government raising its concerns should not be construed as a breach of RBI's autonomy, as in a consultative process one has to express oneself freely and frankly, the finance minister said.

Food surpluses have led to dip in farmers' income: Arun Jaitley

Finance Minister Arun Jaitley has left for the United States for a "regular medical check up", following a kidney transplant last year, two people with direct knowledge of the matter told Reuters on Tuesday.

The minister, 66, is expected to present this government's last budget on February 1 before Prime Minister Narendra seeks re-election in a general election due by May.

A person familiar with Jaitley's medical condition said the minister had "recovered well" from the transplant in New Delhi eight months ago.

A Finance Ministry spokesman declined to comment.

Jaitley is the publicity head of the ruling Bharatiya Janata Party's election team and often acts as the chief spokesman for the government.

Finance Minister Arun Jaitley has left for the United States for a "regular medical check up", following a kidney transplant last year, two people with direct knowledge of the matter told Reuters on Tuesday.

Finance Minister Arun Jaitley has left for the United States for a "regular medical check up", following a kidney transplant last year, two people with direct knowledge of the matter told Reuters on Tuesday. The minister, 66, is expected to present this government's last budget on February 1 before Prime Minister Narendra seeks re-election in a general election due by May. A person familiar with Jaitley's medical condition said the minister had "recovered well" from the transplant in New Delhi eight months ago. A Finance Ministry spokesman declined to comment. Jaitley is the publicity head of the ruling Bharatiya Janata Party's election team and often acts as the chief spokesman for the government.

Finance minister Arun Jaitley goes for 'medical check up' in US: Sources

Finance Minister Arun Jaitley on Saturday said citizens should bring the BJP government back to power in 2019, as coalition governments do not last for long due to a conflict in ideologies.

"Whether it is Congress 'shehzada', West Bengal's 'Didi', Andhra Pradesh's 'Babu' or Uttar Pradesh's 'Behenji', they all wish from their heart the Prime Minister but after elections, all of them will stand against each other. None of them has the guts to stand in front of our leader on the topic of leadership," Jaitley said at the BJP National Council Meet.

Citing examples of governments ruled by Chaudhary Charan Singh, Chandra Shekhar, VP Singh, HD Deve Gowda, and IK&nbsp;Gujral, Jaitley said, "'Gathbandhan' is a coalition of rivals. They don't follow similar ideologies. Chaudhary Charan Singh experienced it for the first time. Later Chandra Shekhar, VP Singh, HD Deve Gowda and IK&nbsp;Gujral experienced it. Every time it proved to be a failure and it didn't last longer than a&nbsp;few months. Ambitions of the politicians started to clash it other."

Jaitley went on to add that the governments formed under an alliance are "so constrained, that when a single person takes back his support, then you never know the future of the government."

Also present at the BJP National Council Meet were Prime Minister Modi, Defence Minister Nirmala Sitharaman, and BJP President Amit Shah, among others.

Speaking at the event, Sitharaman said the BJP government has ensured that terrorism is not allowed to breed. "We have not had one major terrorist attack in this country after 2014. This government under the leadership of Prime Minister Modi has ensured one thing that there shall not be an opportunity for terrorists to disturb peace," she said at the gathering.

Finance Minister Arun Jaitley on Saturday said citizens should bring the BJP government back to power in 2019, as coalition governments do not last for long due to a conflict in ideologies.

Finance Minister Arun Jaitley on Saturday said citizens should bring the BJP government back to power in 2019, as coalition governments do not last for long due to a conflict in ideologies. "Whether it is Congress 'shehzada', West Bengal's 'Didi', Andhra Pradesh's 'Babu' or Uttar Pradesh's 'Behenji', they all wish from their heart the Prime Minister but after elections, all of them will stand against each other. None of them has the guts to stand in front of our leader on the topic of leadership," Jaitley said at the BJP National Council Meet. Citing examples of governments ruled by Chaudhary Charan Singh, Chandra Shekhar, VP Singh, HD Deve Gowda, and IK Gujral, Jaitley said, "'Gathbandhan' is a coalition of rivals. They don't follow similar ideologies. Chaudhary Charan Singh experienced it for the first time. Later Chandra Shekhar, VP Singh, HD Deve Gowda and IK Gujral experienced it. Every time it proved to be a failure and it didn't last longer than a few months. Ambitions of the politicians started to clash it other." Jaitley went on to add that the governments formed under an alliance are "so constrained, that when a single person takes back his support, then you never know the future of the government." Also present at the BJP National Council Meet were Prime Minister Modi, Defence Minister Nirmala Sitharaman, and BJP President Amit Shah, among others. Speaking at the event, Sitharaman said the BJP government has ensured that terrorism is not allowed to breed. "We have not had one major terrorist attack in this country after 2014. This government under the leadership of Prime Minister Modi has ensured one thing that there shall not be an opportunity for terrorists to disturb peace," she said at the gathering.

Coalition governments don't last long: Arun Jaitley

Finance Minister Arun Jaitley Friday said the 10 per cent reservation for economically weaker sections in government jobs and educational institutions does not contravene the basic structure of the Constitution and termed the move the single greatest recognition for the poor in the general category.&nbsp;

He also accused the main opposition party Congress of only paying "lip sympathy" and grudgingly supporting the Constitution Amendment Bill, passed by Parliament earlier this week.

Caste in India was considered as a key determinant of either social or historical oppression as in the case of the Scheduled Castes and Scheduled Tribes or a determinant of social and educational backwardness as in the case of the Other Backward Classes, he said in a Facebook blog.&nbsp;

"Poverty, however, is a secular criteria" and it cuts across communities and religions," he said adding that "poverty as criteria for a carve-out does not in any way contravene the basic structure of the Constitution".

The union minister noted that the original Constitution (unamended) in its Preamble mentions equality of opportunity and justice for all whether political, social or economic to be ensured by the state.&nbsp;

The Preamble expresses the intent of the Constitution framers, he added.&nbsp;

"It is an aid to the interpretation of what constitutes the basic structure. Nor does the carve-out amongst the general non-reserved categories for 10 per cent of their poor in any way get restricted by the 50 per cent reservation embargo placed by the Supreme Court," said the senior BJP leader.&nbsp;

In the Indra Sawhney case, Jaitley said the Supreme Court had categorically mentioned that 50 per cent criteria applies only to the caste-based reservations envisaged in Article 16(4) of the Constitution.&nbsp;

Nonetheless, the Prime Minister's decision to force an agenda for poverty-based reservation is "the single greatest recognition/concern" for poor across the general categories and the need to eliminate poverty.&nbsp;

"The principal opposition party showed only lip sympathy for the measure and grudgingly supported it while poking holes in the same," the minister said.&nbsp;

He also highlighted other government's initiatives like housing for every rural poor, universal health scheme - Ayushman Bharat, and interest subvention, for economic upliftment of the poor.

On relief measures for the middle class, Jaitley said that in the last five years, not a single tax has been increased, GST has been brought down on most commodities, and income tax relief has been provided.

Commodities have been made cheaper, even though the revenue sacrificed now after the rates revision would be close to Rs 1 lakh crore, he said.

"This is the first time that during the five-year tenure of a government a Rs 2 lakh crore annual tax rebate for both direct and indirect taxes is given to the middle-class taxpayer without a single tax being increased," Jaitley said.

The finance minister further listed out measures taken by the present government for the upliftment and economic empowerment of the poor.&nbsp;

"There is a method for economically empowering the poor. Their purchasing power has improved. This helps trade and businesses which impacts positively on the economy.&nbsp;

"This is the first five-year tenure of a government where India has consistently remained the fastest growing economy in the world," he said.&nbsp;

"This indeed helps every Indian&nbsp;the poor, the neo-middle class, the middle class and, of course, the large business community", the minister added.&nbsp;

Finance Minister Arun Jaitley Friday said the 10 per cent reservation for economically weaker sections in government jobs and educational institutions does not contravene the basic structure of the Constitution and termed the move the single greatest recognition for the poor in the general category.

Finance Minister Arun Jaitley Friday said the 10 per cent reservation for economically weaker sections in government jobs and educational institutions does not contravene the basic structure of the Constitution and termed the move the single greatest recognition for the poor in the general category. He also accused the main opposition party Congress of only paying "lip sympathy" and grudgingly supporting the Constitution Amendment Bill, passed by Parliament earlier this week. Caste in India was considered as a key determinant of either social or historical oppression as in the case of the Scheduled Castes and Scheduled Tribes or a determinant of social and educational backwardness as in the case of the Other Backward Classes, he said in a Facebook blog. "Poverty, however, is a secular criteria" and it cuts across communities and religions," he said adding that "poverty as criteria for a carve-out does not in any way contravene the basic structure of the Constitution". The union minister noted that the original Constitution (unamended) in its Preamble mentions equality of opportunity and justice for all whether political, social or economic to be ensured by the state. The Preamble expresses the intent of the Constitution framers, he added. "It is an aid to the interpretation of what constitutes the basic structure. Nor does the carve-out amongst the general non-reserved categories for 10 per cent of their poor in any way get restricted by the 50 per cent reservation embargo placed by the Supreme Court," said the senior BJP leader. In the Indra Sawhney case, Jaitley said the Supreme Court had categorically mentioned that 50 per cent criteria applies only to the caste-based reservations envisaged in Article 16(4) of the Constitution. Nonetheless, the Prime Minister's decision to force an agenda for poverty-based reservation is "the single greatest recognition/concern" for poor across the general categories and the need to eliminate poverty. "The principal opposition party showed only lip sympathy for the measure and grudgingly supported it while poking holes in the same," the minister said. He also highlighted other government's initiatives like housing for every rural poor, universal health scheme - Ayushman Bharat, and interest subvention, for economic upliftment of the poor. On relief measures for the middle class, Jaitley said that in the last five years, not a single tax has been increased, GST has been brought down on most commodities, and income tax relief has been provided. Commodities have been made cheaper, even though the revenue sacrificed now after the rates revision would be close to Rs 1 lakh crore, he said. "This is the first time that during the five-year tenure of a government a Rs 2 lakh crore annual tax rebate for both direct and indirect taxes is given to the middle-class taxpayer without a single tax being increased," Jaitley said. The finance minister further listed out measures taken by the present government for the upliftment and economic empowerment of the poor. "There is a method for economically empowering the poor. Their purchasing power has improved. This helps trade and businesses which impacts positively on the economy. "This is the first five-year tenure of a government where India has consistently remained the fastest growing economy in the world," he said. "This indeed helps every Indian the poor, the neo-middle class, the middle class and, of course, the large business community", the minister added.

10% quota for poorer sections doesn't violate basic structure of Constitution: Jaitley

Finance Minister Arun Jaitley on Tuesday said the decision to send the CBI's two senior officers on leave was taken by the government on the recommendation of the Central Vigilance Commission.

Jaitley, who speaking to reporters in the Parliament complex after the Supreme Court gave orders to <a href="http://www.wionews.com/india-news/supreme-court-sets-aside-government-order-reinstates-alok-verma-as-cbi-chief-188935">reinstate CBI director Alok Verma</a>, said the government would comply with the orders of the apex court.&nbsp;

"The government took this decision to protect the integrity of the CBI...Government took the action of sending two senior officers of CBI on leave on CVC's recommendation," he said, referring to the decision to send Verma and CBI Special Director Rakesh Asthana on leave.

He said the court has referred the matter to the committee to decide on the issue within one week.

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FM:This action was taken perfectly bonafide as there were cross-allegations made by both the officers,&amp;in accordance with recommendations of CVC.The govt had felt that in the larger interest of fair&amp;impartial investigation&amp;credibility of CBI,the 2 officers must recuse themselves.
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1082534270726533120?ref_src=twsrc%5Etfw">January 8, 2019</a></blockquote>
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"The court apparently has strengthened the immunity given to the CBI director in the larger interest of the fair and impartial working of the CBI. At the same time, the court has devised an accountability mechanism. The directions of the court will obviously be complied with," he said.&nbsp;

The Supreme Court reinstated Verma, setting aside the Centre's decision to divest him of his powers, but restrained him from taking any major policy decision till the CVC probe into corruption charges against him is over.

The apex court said any further decision against Verma, who was sent on leave following the Centre's October 23 decision and retires on January 31, would be taken by the high-powered committee which selects and appoints the CBI director.

Finance Minister Arun Jaitley on Tuesday said the decision to send the CBI's two senior officers on leave was taken by the government on the recommendation of the Central Vigilance Commission.

Finance Minister Arun Jaitley on Tuesday said the decision to send the CBI's two senior officers on leave was taken by the government on the recommendation of the Central Vigilance Commission. Jaitley, who speaking to reporters in the Parliament complex after the Supreme Court gave orders to reinstate CBI director Alok Verma, said the government would comply with the orders of the apex court. "The government took this decision to protect the integrity of the CBI...Government took the action of sending two senior officers of CBI on leave on CVC's recommendation," he said, referring to the decision to send Verma and CBI Special Director Rakesh Asthana on leave. He said the court has referred the matter to the committee to decide on the issue within one week. FM:This action was taken perfectly bonafide as there were cross-allegations made by both the officers,&in accordance with recommendations of CVC.The govt had felt that in the larger interest of fair&impartial investigation&credibility of CBI,the 2 officers must recuse themselves. — ANI (@ANI) January 8, 2019 × "The court apparently has strengthened the immunity given to the CBI director in the larger interest of the fair and impartial working of the CBI. At the same time, the court has devised an accountability mechanism. The directions of the court will obviously be complied with," he said. The Supreme Court reinstated Verma, setting aside the Centre's decision to divest him of his powers, but restrained him from taking any major policy decision till the CVC probe into corruption charges against him is over. The apex court said any further decision against Verma, who was sent on leave following the Centre's October 23 decision and retires on January 31, would be taken by the high-powered committee which selects and appoints the CBI director.

CBI senior officers were sent on leave on CVC recommendation: Jaitley

The Editors Guild of India on Thursday said it believes journalists should claim no immunity from healthy and civilised criticism, but at the same time their labelling has emerged as a "favourite tactic" on the part of the establishment to discredit, delegitimise and intimidate them.

"We have seen our political class use this for some time now. In the recent past, top BJP leaders, as well as those of AAP, have used unambiguously abusive expressions such as 'presstitute', news-traders, 'bazaaru' (saleable commodities) or 'dalals' (pimps) for journalists," the Guild said in a statement.

It said it has "noted with concern" the words used by Congress President Rahul Gandhi in his criticism of the journalist who interviewed Prime Minister Narendra Modi this week.

The statement was issued after much debate among the Guild's executive committee members. Some of the members were opposed to the issuance of such a statement maintaining that Gandhi's remarks did not tantamount to attack on freedom of expression or a threat.

Earlier in the day, Finance Minister Arun Jaitley tweeted: "The Grandson of the 'Emergency dictator' displays his real DNA -- attacks and intimidates an independent Editor."

"Why are the pseudo-liberals silent? Waiting for the Editors guild's response," he said.

The Guild statement also talked about "reprehensible strategy to throttle media freedoms" through ploys such as boycotts, denial of access and lately government accreditation.

"This must be reversed. Journalists, we believe, will continue to deal with these with their usual thick skins and not let these tactics intimidate them. The Guild, as an apex, non-partisan institution, however, takes strong exception to this tendency and calls for its halt," it said.

The statement was issued after much debate among the Guild's executive committee members.

The Editors Guild of India on Thursday said it believes journalists should claim no immunity from healthy and civilised criticism, but at the same time their labelling has emerged as a "favourite tactic" on the part of the establishment to discredit, delegitimise and intimidate them. "We have seen our political class use this for some time now. In the recent past, top BJP leaders, as well as those of AAP, have used unambiguously abusive expressions such as 'presstitute', news-traders, 'bazaaru' (saleable commodities) or 'dalals' (pimps) for journalists," the Guild said in a statement. It said it has "noted with concern" the words used by Congress President Rahul Gandhi in his criticism of the journalist who interviewed Prime Minister Narendra Modi this week. The statement was issued after much debate among the Guild's executive committee members. Some of the members were opposed to the issuance of such a statement maintaining that Gandhi's remarks did not tantamount to attack on freedom of expression or a threat. Earlier in the day, Finance Minister Arun Jaitley tweeted: "The Grandson of the 'Emergency dictator' displays his real DNA -- attacks and intimidates an independent Editor." "Why are the pseudo-liberals silent? Waiting for the Editors guild's response," he said. The Guild statement also talked about "reprehensible strategy to throttle media freedoms" through ploys such as boycotts, denial of access and lately government accreditation. "This must be reversed. Journalists, we believe, will continue to deal with these with their usual thick skins and not let these tactics intimidate them. The Guild, as an apex, non-partisan institution, however, takes strong exception to this tendency and calls for its halt," it said.

Labelling of journalists has emerged as 'favourite tactic': Editors Guild

The Rafale debate is set to resume in the Parliament today with Defence Minister Nirmala Sitharaman expected to lead with the government's response on the matter.

Following a heated argument that unfolded in the Parliament over the controversial deal on Wednesday, Sitharaman took a jibe at Congress president Rahul Gandhi for posing a list of questions to Prime Minister Narendra Modi on Twitter. Sitharaman called Gandhi 'a student who failed in the classroom.'

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A student who fails in the classroom boasts and challenges from outside. <a href="https://t.co/YOEUIN4JGT">https://t.co/YOEUIN4JGT</a>
— Nirmala Sitharaman (@nsitharaman) <a href="https://twitter.com/nsitharaman/status/1080493227071877120?ref_src=twsrc%5Etfw">January 2, 2019</a></blockquote>
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"A student who fails in the classroom boasts and challenges from outside," she tweeted.&nbsp;

Rahul Gandhi, on Wednesday, tweeted out four questions to PM Modi with respect to the Rafale deal. He asked if the prime minister would show up or send a proxy.

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Tomorrow, the PM faces an Open Book <a href="https://twitter.com/hashtag/RafaleDeal?src=hash&amp;ref_src=twsrc%5Etfw">#RafaleDeal</a> Exam in Parliament. 
 
Here are the exam questions in advance: 
 
Q1. Why 36 aircraft, instead of the 126 the IAF needed? 
 
Q2. Why 1,600 Cr instead of 560 Cr per aircraft. 
 
Q4. Why AA instead of HAL? 
 
Will he show up? Or send a proxy?
— Rahul Gandhi (@RahulGandhi) <a href="https://twitter.com/RahulGandhi/status/1080484355825373184?ref_src=twsrc%5Etfw">January 2, 2019</a></blockquote>
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Earlier on Wednesday, <a href="http://www.wionews.com/india-news/pm-modi-does-not-have-guts-to-come-to-parliament-to-confront-questions-on-rafale-rahul-gandhi-in-lok-sabha-187882">Gandhi opened the debate in the Parliament</a> and hit out at the government over Rafale deal. He attacked PM Modi saying his interview to news agency ANI on the first day of the new year was staged.

Gandhi said the PM does not have the guts to face questions on Rafale deal and is "hiding in his room".

He also sought Speaker's permission to play an audio clip wherein a Goa minister is allegedly heard quoting Chief Minister Manohar Parrikar that the latter has Rafale files in his bedroom. However, the Speaker denied him permission after Jaitley stepped in. Rahul then sought to read the transcript of the purported statement.&nbsp;

The Rafale debate is set to resume in the Parliament today with Defence Minister Nirmala Sitharaman expected to lead with the government's response on the matter.

The Rafale debate is set to resume in the Parliament today with Defence Minister Nirmala Sitharaman expected to lead with the government's response on the matter. Following a heated argument that unfolded in the Parliament over the controversial deal on Wednesday, Sitharaman took a jibe at Congress president Rahul Gandhi for posing a list of questions to Prime Minister Narendra Modi on Twitter. Sitharaman called Gandhi 'a student who failed in the classroom.' A student who fails in the classroom boasts and challenges from outside. https://t.co/YOEUIN4JGT — Nirmala Sitharaman (@nsitharaman) January 2, 2019 × "A student who fails in the classroom boasts and challenges from outside," she tweeted. Rahul Gandhi, on Wednesday, tweeted out four questions to PM Modi with respect to the Rafale deal. He asked if the prime minister would show up or send a proxy. Tomorrow, the PM faces an Open Book #RafaleDeal Exam in Parliament. Here are the exam questions in advance: Q1. Why 36 aircraft, instead of the 126 the IAF needed? Q2. Why 1,600 Cr instead of 560 Cr per aircraft. Q4. Why AA instead of HAL? Will he show up? Or send a proxy? — Rahul Gandhi (@RahulGandhi) January 2, 2019 × Earlier on Wednesday, Gandhi opened the debate in the Parliament and hit out at the government over Rafale deal. He attacked PM Modi saying his interview to news agency ANI on the first day of the new year was staged. Gandhi said the PM does not have the guts to face questions on Rafale deal and is "hiding in his room". He also sought Speaker's permission to play an audio clip wherein a Goa minister is allegedly heard quoting Chief Minister Manohar Parrikar that the latter has Rafale files in his bedroom. However, the Speaker denied him permission after Jaitley stepped in. Rahul then sought to read the transcript of the purported statement.

Student who fails in classroom boasts and challenges from outside: Sitharaman on Rahul Gandhi

Finance Minister Arun Jaitley Thursday said Rs 80,000 crore has been recovered by creditors in 66 cases resolved by NCLT and around Rs 70,000 crore more is likely to be realised by March-end.

Accusing the Congress of leaving behind a legacy of an "anachronic system" of resolving commercial insolvency, Jaitley said the NDA government acted swiftly to recover the non-performing loans and legislated the insolvency and bankruptcy code (IBC).

He said National Company Law Tribunal (NCLT) had started receiving corporate insolvency cases by the end of 2016 and so far 1,322 cases have been admitted by it. A total of 4,452 cases have been disposed at a pre-admission stage and 66 have been resolved after adjudication. 260 cases have been ordered for liquidation.

"In 66 resolution cases, the realisation by creditors was around Rs 80,000 crore... Some of the big 12 cases such as Bhushan Power and Steel and Essar Steel India are in advanced stages of resolution and are likely to be resolved in this financial year in which realisation is expected to be around Rs 70,000 crore," Jaitley said.

In a Facebook post titled 'Two years of Insolvency and Bankruptcy Code', Jaitley said NCLT has become a trusted forum of high credibility.&nbsp; 
"Those who drive the companies to insolvency, exit from management. The selection of new management has been an honest and transparent process. There has been no political or governmental interference in the cases," he added.

As per the NCLT database, in 4,452 cases disposed at a pre-admission stage, the amount apparently settled was around Rs 2.02 lakh crore, the minister added.

Jaitley said the increase in conversion of NPAs into standard accounts and decline in new accounts falling in NPA category show a definite improvement in the lending and borrowing behaviour.

"The early harvest through the IBC process has been extremely satisfactory. It has changed the debtor-creditor relationship. The creditor no longer chases the debtor. In fact, it is otherwise," the minister said.

Jaitley said the Congress government had enacted the Sick Industrial Companies Act (SICA) during the 1980s for rehabilitation of sick companies. This applied to companies whose net worth had become negative.&nbsp;

"The law proved to be an utter failure. Law carried out rehabilitation, several sick companies got a protective iron curtain against creditors," he said. 
Besides, the Debt Recovery Tribunal was created to enable banks to recover every due diligently, but these have not proved to be a highly efficient mechanism for recovering debt, he added.&nbsp;

"For non-corporate insolvencies the Provincial Insolvency Act was applicable. This was a rusted piece of legislation, ineffective and had faded away because of disuse," Jaitley added.

He said, between 2008 and 2014, banks lent indiscriminately and this lead to a very high percentage of NPAs which was highlighted by the Asset Quality Reviews of the RBI.&nbsp;

"This led to a prompt action by the government... The IBC was approved by both Houses of Parliament in May, 2016. This was the quickest economic legislative change that I have seen being made by Parliament," Jaitley said.&nbsp;

Finance Minister Arun Jaitley Thursday said Rs 80,000 crore has been recovered by creditors in 66 cases resolved by NCLT and around Rs 70,000 crore more is likely to be realised by March-end.

Finance Minister Arun Jaitley Thursday said Rs 80,000 crore has been recovered by creditors in 66 cases resolved by NCLT and around Rs 70,000 crore more is likely to be realised by March-end. Accusing the Congress of leaving behind a legacy of an "anachronic system" of resolving commercial insolvency, Jaitley said the NDA government acted swiftly to recover the non-performing loans and legislated the insolvency and bankruptcy code (IBC). He said National Company Law Tribunal (NCLT) had started receiving corporate insolvency cases by the end of 2016 and so far 1,322 cases have been admitted by it. A total of 4,452 cases have been disposed at a pre-admission stage and 66 have been resolved after adjudication. 260 cases have been ordered for liquidation. "In 66 resolution cases, the realisation by creditors was around Rs 80,000 crore... Some of the big 12 cases such as Bhushan Power and Steel and Essar Steel India are in advanced stages of resolution and are likely to be resolved in this financial year in which realisation is expected to be around Rs 70,000 crore," Jaitley said. In a Facebook post titled 'Two years of Insolvency and Bankruptcy Code', Jaitley said NCLT has become a trusted forum of high credibility. "Those who drive the companies to insolvency, exit from management. The selection of new management has been an honest and transparent process. There has been no political or governmental interference in the cases," he added. As per the NCLT database, in 4,452 cases disposed at a pre-admission stage, the amount apparently settled was around Rs 2.02 lakh crore, the minister added. Jaitley said the increase in conversion of NPAs into standard accounts and decline in new accounts falling in NPA category show a definite improvement in the lending and borrowing behaviour. "The early harvest through the IBC process has been extremely satisfactory. It has changed the debtor-creditor relationship. The creditor no longer chases the debtor. In fact, it is otherwise," the minister said. Jaitley said the Congress government had enacted the Sick Industrial Companies Act (SICA) during the 1980s for rehabilitation of sick companies. This applied to companies whose net worth had become negative. "The law proved to be an utter failure. Law carried out rehabilitation, several sick companies got a protective iron curtain against creditors," he said. Besides, the Debt Recovery Tribunal was created to enable banks to recover every due diligently, but these have not proved to be a highly efficient mechanism for recovering debt, he added. "For non-corporate insolvencies the Provincial Insolvency Act was applicable. This was a rusted piece of legislation, ineffective and had faded away because of disuse," Jaitley added. He said, between 2008 and 2014, banks lent indiscriminately and this lead to a very high percentage of NPAs which was highlighted by the Asset Quality Reviews of the RBI. "This led to a prompt action by the government... The IBC was approved by both Houses of Parliament in May, 2016. This was the quickest economic legislative change that I have seen being made by Parliament," Jaitley said.

Banks likely to recover bad loans worth 70,000 crore rupees by March-end: Arun Jaitley

In a new year gift to the common man, the government has notified reduction in <a href="http://www.wionews.com/videos/gst-rates-cut-on-33-items-7-items-moved-from-28-gst-rate-185880">GST rates </a>on 23 goods and services, including movie tickets, TV and monitor screen.

The consumers will pay less for these items of common consumption as the incidence of <a href="http://www.wionews.com/business-economy/revised-gst-rates-what-becomes-cheaper-185876">Goods and Services Tax (GST) </a>on them will come down from Tuesday.

The GST Council on December 22 decided to cut tax rates on 23 goods and services, including movie tickets, TV and monitor screens and power banks and exempted frozen and preserved vegetables from the levy.

The Council had rationalised the 28 per cent slab and restricted the highest slab to luxury, demerit, and sin goods, besides cement, large screen TV, Air Conditioners and dishwashers.

The goods on which GST has been lowered to 18 per cent from 28 per cent at present include pulleys, transmission shafts and cranks, gear boxes, retreaded or used tyres, power banks of lithium ion batteries, digital cameras, video camera recorders and video game consoles.

The GST Council has also decided to slash tax rate on parts and accessories for the carriages for disabled persons from 28 per cent to 5 per cent. Also third party insurance premium of goods carrying vehicles has been reduced from 18 per cent to 12 per cent.

The other items which will attract lower GST rate of 5 per cent include marble rubble, natural cork, walking stick, fly ash blocks.

Music books and vegetables (uncooked or cooked by steaming or boiling in water), frozen, branded and put in an unit container and vegetables provisionally preserved but unsuitable in that state for immediate consumption have been exempted from GST.

Services supplied by banks to basic savings bank deposit account holders under the Jan Dhan Yojana will not attract the GST.

Air travel of pilgrims by non-scheduled/charter operations being facilitated by the government under bilateral arrangements will attract a lower GST rate of 5 per cent.

GST on movie tickets costing up to Rs 100 has been cut to 12 per cent, from 18 per cent. Also tickets over Rs 100 will attract 18 per cent GST, against 28 per cent earlier.&nbsp;

Monitors and TV screens up to 32 inches and power banks will attract 18 per cent GST, as against 28 per cent earlier.

In a new year gift to the common man, the government has notified reduction in GST rates on 23 goods and services, including movie tickets, TV and monitor screen.

In a new year gift to the common man, the government has notified reduction in GST rates on 23 goods and services, including movie tickets, TV and monitor screen. The consumers will pay less for these items of common consumption as the incidence of Goods and Services Tax (GST) on them will come down from Tuesday. The GST Council on December 22 decided to cut tax rates on 23 goods and services, including movie tickets, TV and monitor screens and power banks and exempted frozen and preserved vegetables from the levy. The Council had rationalised the 28 per cent slab and restricted the highest slab to luxury, demerit, and sin goods, besides cement, large screen TV, Air Conditioners and dishwashers. The goods on which GST has been lowered to 18 per cent from 28 per cent at present include pulleys, transmission shafts and cranks, gear boxes, retreaded or used tyres, power banks of lithium ion batteries, digital cameras, video camera recorders and video game consoles. The GST Council has also decided to slash tax rate on parts and accessories for the carriages for disabled persons from 28 per cent to 5 per cent. Also third party insurance premium of goods carrying vehicles has been reduced from 18 per cent to 12 per cent. The other items which will attract lower GST rate of 5 per cent include marble rubble, natural cork, walking stick, fly ash blocks. Music books and vegetables (uncooked or cooked by steaming or boiling in water), frozen, branded and put in an unit container and vegetables provisionally preserved but unsuitable in that state for immediate consumption have been exempted from GST. Services supplied by banks to basic savings bank deposit account holders under the Jan Dhan Yojana will not attract the GST. Air travel of pilgrims by non-scheduled/charter operations being facilitated by the government under bilateral arrangements will attract a lower GST rate of 5 per cent. GST on movie tickets costing up to Rs 100 has been cut to 12 per cent, from 18 per cent. Also tickets over Rs 100 will attract 18 per cent GST, against 28 per cent earlier. Monitors and TV screens up to 32 inches and power banks will attract 18 per cent GST, as against 28 per cent earlier.

New GST rates in effect from today: 23 goods and services to get cheaper

Terming Government's flagship scheme Ayushman Bharat a 'game changer' in healthcare, <a href="http://www.wionews.com/india-news/government-not-seeking-rbi-reserves-to-meet-fiscal-deficit-arun-jaitley-187546">Finance Minister Arun Jaitley</a> Tuesday said, as many as 6.85 lakh poor patients have been provided free hospital treatment in the first 100 days of the launch of the programme.

He further said, on an average 5,000 claims are being settled every day since its roll out on September 23, 2018.

"Once awareness of the scheme increases, It is anticipated that in the next few years, almost 1 crore plus families will benefit each year," Jaitley said in a Facebook post titled '100 days of Ayushman Bharat'.

The total number of hospitals covered by this scheme are both Government hospitals and private hospitals presently numbering 16,000 and increasing steadily. More than 50 per cent of the implementing hospitals are in the private sector.

Jaitley said in the first 100 days, 6.85 lakh patients have been provided hospital treatment and 5.1 lakh claims have availed of the scheme, for which payment has been released.

Prime Minister Narendra Modi in September launched the Ayushman Bharat Pradhan Mantri Jan Aarogya Yojana which aims to provide a coverage of Rs 5 lakh per family annually, benefiting more than 10.74 crore poor families or over 50 crore people for secondary and tertiary care hospitalisation through a network of empanelled health care providers Jaitley said this scheme is a "game changer" in healthcare and will cover 40 per cent of country's population which cannot afford to pay their medical bills.

"Many people from the weaker sections avoided hospital treatment in order to avoid the burden of an unbearable payment. Today 40 per cent of India's poorest are assured of a treatment in a hospital at the cost of public expenditure," he said.

He said although government employees, armed forces personnel and some corporate employees have healthcare support facilities, but 62.58 per cent of the Indian population has to pay their healthcare bills themselves and most find it unaffordable.

He said the launch and implementation of the scheme, which is cashless and paperless, has been relatively problem free.

Terming Government's flagship scheme Ayushman Bharat a 'game changer' in healthcare, Finance Minister Arun Jaitley Tuesday said, as many as 6.85 lakh poor patients have been provided free hospital treatment in the first 100 days of the launch of the programme.

Terming Government's flagship scheme Ayushman Bharat a 'game changer' in healthcare, Finance Minister Arun Jaitley Tuesday said, as many as 6.85 lakh poor patients have been provided free hospital treatment in the first 100 days of the launch of the programme. He further said, on an average 5,000 claims are being settled every day since its roll out on September 23, 2018. "Once awareness of the scheme increases, It is anticipated that in the next few years, almost 1 crore plus families will benefit each year," Jaitley said in a Facebook post titled '100 days of Ayushman Bharat'. The total number of hospitals covered by this scheme are both Government hospitals and private hospitals presently numbering 16,000 and increasing steadily. More than 50 per cent of the implementing hospitals are in the private sector. Jaitley said in the first 100 days, 6.85 lakh patients have been provided hospital treatment and 5.1 lakh claims have availed of the scheme, for which payment has been released. Prime Minister Narendra Modi in September launched the Ayushman Bharat Pradhan Mantri Jan Aarogya Yojana which aims to provide a coverage of Rs 5 lakh per family annually, benefiting more than 10.74 crore poor families or over 50 crore people for secondary and tertiary care hospitalisation through a network of empanelled health care providers Jaitley said this scheme is a "game changer" in healthcare and will cover 40 per cent of country's population which cannot afford to pay their medical bills. "Many people from the weaker sections avoided hospital treatment in order to avoid the burden of an unbearable payment. Today 40 per cent of India's poorest are assured of a treatment in a hospital at the cost of public expenditure," he said. He said although government employees, armed forces personnel and some corporate employees have healthcare support facilities, but 62.58 per cent of the Indian population has to pay their healthcare bills themselves and most find it unaffordable. He said the launch and implementation of the scheme, which is cashless and paperless, has been relatively problem free.

Ayushman Bharat a 'game changer', 6.85 lakh patients treated in 100 days: Arun Jaitley

<a href="http://www.wionews.com/india-news/order-to-monitor-computers-exists-since-2009-arun-jaitley-185675">Finance Minister Arun Jaitley</a> Monday said the government was not seeking Reserve Bank surplus to meet fiscal deficit but to utilise them for accelerating poverty alleviation programmes and recapitalising the state-owned banks.

Replying to a debate on the second batch of supplementary demands for grants in the Lok Sabha, the Minister said that the Modi government has the best track record of keeping fiscal deficit under check.

The House later passed supplementary demand for grants for the current fiscal to provide additional expenditure of Rs 85,948.86 crore, about half of which is for capital infusion in public sector banks.

Referring to the issues concerning the Economic Capital Framework (ECF) of RBI, Jaitley said that central banks of most of the countries keep a reserve of 8 per cent, while some conservative central banks maintain 14 per cent reserves.

The RBI was maintaining a reserve of 28 per cent, he said, adding the expert committee will decide on the appropriate reserve of the central bank so that surplus funds could be utilised for funding poverty alleviation programmes and recapitalising the state-owned banks.

"This government has the best track record than any other previous government in managing fiscal deficit. We do not need RBI reserves to manage the fiscal deficit, Jaitley said.

He said the Modi government has brought down fiscal deficit and kept inflation and the Current Account Deficit (CAD) under check, while India retained the fastest growing economy tag for 5 years.

The Finance Minister further said that it was only during the Modi government tenure that India became the fastest growing major economy&nbsp; 
in the world, ahead of China.

Jaitley also said that demonetisation and the Goods and Services Tax (GST) has helped increase the tax base and allocate more funds for poverty alleviation and social sector programmes.

The number of Income Tax return filers have gone up from 3.8 crore during the UPA regime, to 6.86 crore currently.

When the NDA government completes its five-year term in 2019, the number would double from 3.83 crore, he added.

With regard to concerns expressed by some members over the agrarian situation, Jaitley said the government will take all steps to support the farmers.

"Whatever steps need to be taken at the end, the Government will take it," he said, amid sloganeering by Congress over the Rafale issue.

Finance Minister Arun Jaitley Monday said the government was not seeking Reserve Bank surplus to meet fiscal deficit but to utilise them for accelerating poverty alleviation programmes and recapitalising the state-owned banks.

Finance Minister Arun Jaitley Monday said the government was not seeking Reserve Bank surplus to meet fiscal deficit but to utilise them for accelerating poverty alleviation programmes and recapitalising the state-owned banks. Replying to a debate on the second batch of supplementary demands for grants in the Lok Sabha, the Minister said that the Modi government has the best track record of keeping fiscal deficit under check. The House later passed supplementary demand for grants for the current fiscal to provide additional expenditure of Rs 85,948.86 crore, about half of which is for capital infusion in public sector banks. Referring to the issues concerning the Economic Capital Framework (ECF) of RBI, Jaitley said that central banks of most of the countries keep a reserve of 8 per cent, while some conservative central banks maintain 14 per cent reserves. The RBI was maintaining a reserve of 28 per cent, he said, adding the expert committee will decide on the appropriate reserve of the central bank so that surplus funds could be utilised for funding poverty alleviation programmes and recapitalising the state-owned banks. "This government has the best track record than any other previous government in managing fiscal deficit. We do not need RBI reserves to manage the fiscal deficit, Jaitley said. He said the Modi government has brought down fiscal deficit and kept inflation and the Current Account Deficit (CAD) under check, while India retained the fastest growing economy tag for 5 years. The Finance Minister further said that it was only during the Modi government tenure that India became the fastest growing major economy in the world, ahead of China. Jaitley also said that demonetisation and the Goods and Services Tax (GST) has helped increase the tax base and allocate more funds for poverty alleviation and social sector programmes. The number of Income Tax return filers have gone up from 3.8 crore during the UPA regime, to 6.86 crore currently. When the NDA government completes its five-year term in 2019, the number would double from 3.83 crore, he added. With regard to concerns expressed by some members over the agrarian situation, Jaitley said the government will take all steps to support the farmers. "Whatever steps need to be taken at the end, the Government will take it," he said, amid sloganeering by Congress over the Rafale issue.

Government not seeking RBI reserves to meet fiscal deficit: Arun Jaitley

The government is looking at bringing untaxed sectors in the tax net as well as improving compliance to raise the tax-to-GDP ratio, Revenue Secretary Ajay Bhushan Pandey said.

He also said <a href="http://www.wionews.com/india-news/opposition-ruled-states-oppose-rate-cuts-in-gst-citing-revenue-consideration-185889">GST officials </a>would ensure that taxpayers who are paying taxes honestly are not disturbed, but those who are defaulting in payment or not filing returns should be brought within the tax fold.

In an interview to PTI, Pandey, who took charge as the Revenue Secretary earlier this month, said the Income Tax Department will implement faceless assessment for all scrutiny cases over the next one year as it seeks to make the process objective without any scope for bias.

Asked how the government would go about increasing the tax-to-GDP ratio, Pandey said: "There are two issues to this. One involves the policy of the government as to which are the areas which are not taxed and should be brought into the tax net. The other involves wherever some steps are required to improve compliance, their compliance should be ensured.

"So in the areas where is there of scope taxation, and where it can be done without any adverse impact, such areas will have to be identified and accordingly we will have to work on this."

In the last four years, the country's tax-to-GDP ratio has improved from 10 per cent to 11.5 per cent.

<a href="http://www.wionews.com/india-news/future-roadmap-will-be-to-work-towards-a-single-standard-rate-instead-of-two-arun-jaitley-186136">Finance Minister Arun Jaitley</a> had earlier said that while the salaried class pays its due share of taxes, "most other sections" have to improve their tax payment record, which is keeping India "far from being a tax-compliant society".

Pandey said the number of income tax return filers has jumped 50 per cent to over 6 crores in the assessment year 2018-19 compared to the year-ago period.

He said in order to improve the tax compliance and also to facilitate honest taxpayers, various initiatives are being planned by the Central Board of Direct Taxes.

"Our endeavour is that over a period of next one year or so, we should move towards a system where the scrutiny will happen in a faceless manner where a person can be given a questionnaire of the points which have been raised in the scrutiny and then the person can reply on the portal or through the emails to the officer who can be located anywhere in the country so that the case of scrutiny is decided in a very, very objective manner without any scope for any bias or harassment," he said.

With regard to the Goods and Services Tax (GST), Pandey said tackling evasion would be one of the priority areas as it not only affects the revenue of the government but also makes those businesses which are honestly paying tax less competitive.

"Our effort is to bring in systems so that the tendency to evade is brought down so that those who are paying taxes honestly are not put at disadvantage.

"What we are trying to ensure is a large number of taxpayers who are paying taxes honestly, they are not to be disturbed. And those who are defaulting in payment or filing returns, or not filing correct returns, and not paying due taxes should be brought within the tax fold," he said.

Over 1.16 crore businesses are registered under GST, which was rolled out on July 1, 2017, after subsuming 17 local taxes, including excise duty, service tax and VAT.

Stating that only a "fraction of a per cent" of registered taxpayers would be asked for clarification in case of mismatch in returns, Pandey said in cases where clarification is not sufficient, further action would be taken.

"Whole purpose is no honest taxpayer should be disturbed and at the same time we have to discourage people who evade taxes so that government revenue is not impacted and competitiveness of honest businesses also does not suffer," he said.

The monthly GST revenues have averaged Rs 97,100 crore in the April-November period of the current fiscal, up from Rs 89,100 crore in the previous financial year.

The government is looking at bringing untaxed sectors in the tax net as well as improving compliance to raise the tax-to-GDP ratio, Revenue Secretary Ajay Bhushan Pandey said.

The government is looking at bringing untaxed sectors in the tax net as well as improving compliance to raise the tax-to-GDP ratio, Revenue Secretary Ajay Bhushan Pandey said. He also said GST officials would ensure that taxpayers who are paying taxes honestly are not disturbed, but those who are defaulting in payment or not filing returns should be brought within the tax fold. In an interview to PTI, Pandey, who took charge as the Revenue Secretary earlier this month, said the Income Tax Department will implement faceless assessment for all scrutiny cases over the next one year as it seeks to make the process objective without any scope for bias. Asked how the government would go about increasing the tax-to-GDP ratio, Pandey said: "There are two issues to this. One involves the policy of the government as to which are the areas which are not taxed and should be brought into the tax net. The other involves wherever some steps are required to improve compliance, their compliance should be ensured. "So in the areas where is there of scope taxation, and where it can be done without any adverse impact, such areas will have to be identified and accordingly we will have to work on this." In the last four years, the country's tax-to-GDP ratio has improved from 10 per cent to 11.5 per cent. Finance Minister Arun Jaitley had earlier said that while the salaried class pays its due share of taxes, "most other sections" have to improve their tax payment record, which is keeping India "far from being a tax-compliant society". Pandey said the number of income tax return filers has jumped 50 per cent to over 6 crores in the assessment year 2018-19 compared to the year-ago period. He said in order to improve the tax compliance and also to facilitate honest taxpayers, various initiatives are being planned by the Central Board of Direct Taxes. "Our endeavour is that over a period of next one year or so, we should move towards a system where the scrutiny will happen in a faceless manner where a person can be given a questionnaire of the points which have been raised in the scrutiny and then the person can reply on the portal or through the emails to the officer who can be located anywhere in the country so that the case of scrutiny is decided in a very, very objective manner without any scope for any bias or harassment," he said. With regard to the Goods and Services Tax (GST), Pandey said tackling evasion would be one of the priority areas as it not only affects the revenue of the government but also makes those businesses which are honestly paying tax less competitive. "Our effort is to bring in systems so that the tendency to evade is brought down so that those who are paying taxes honestly are not put at disadvantage. "What we are trying to ensure is a large number of taxpayers who are paying taxes honestly, they are not to be disturbed. And those who are defaulting in payment or filing returns, or not filing correct returns, and not paying due taxes should be brought within the tax fold," he said. Over 1.16 crore businesses are registered under GST, which was rolled out on July 1, 2017, after subsuming 17 local taxes, including excise duty, service tax and VAT. Stating that only a "fraction of a per cent" of registered taxpayers would be asked for clarification in case of mismatch in returns, Pandey said in cases where clarification is not sufficient, further action would be taken. "Whole purpose is no honest taxpayer should be disturbed and at the same time we have to discourage people who evade taxes so that government revenue is not impacted and competitiveness of honest businesses also does not suffer," he said. The monthly GST revenues have averaged Rs 97,100 crore in the April-November period of the current fiscal, up from Rs 89,100 crore in the previous financial year.

Focussing on improving compliance, identifying areas which escaped tax net: Revenue Secretary AB Pandey

Hospitals, universities and other institutions in developed countries receive large endowments due to factors like inheritance tax, which is not the case in India, <a href="http://www.wionews.com/india-news/future-roadmap-will-be-to-work-towards-a-single-standard-rate-instead-of-two-arun-jaitley-186136">Finance Minister Arun Jaitley</a> said Tuesday.

Analysing the means of funding for India's healthcare and educational bodies as against the global ways, Jaitley said such institutions in the country receive donations from religious groups and CSR programmes.

"Most hospitals internationally have some of the largest endowments.&nbsp;Most educational institutes have some of the largest endowments. Those endowments come to the educational institutions from their alumni, who have benefitted from the quality of those institutions.''

"Once they are successful in life, they keep supporting the institutions with those endowments. Some IITs have started that experiment now in India. But still it's not very largely prevalent," Jaitley said at an event in AIIMS here.

He said the endowments received by some major hospitals in the US and Europe run into billions of dollars, which are provided by people and patients who have benefitted from them.

"So I was analysing that why that condition doesn't exist in our country. And one of the reasons I found out was that those societies have a very large inheritance tax. Therefore a lot of people in their old age prefer to go for charitable donations in order to get around that inheritance tax. Since we don't have that inheritance tax in India, our charities are not in terms of such endowments," he said.

The finance minister said charities in India depend on social endowments.

"Educational institutions, hospitals are set up by religious groups, caste groups by communities and so on. The social sector in India gets funded more on a community basis, except for this new beginning that we started in the last four years when we started the corporate social responsibility," he noted.

Under the Companies Act, 2013, certain class of profitable entities are required to shell out at least 2 per cent of their three-year annual average net profit towards Corporate Social Responsibility (CSR) activities.

Inheritance tax is levied on the wealth inherited by the legal heirs of a deceased person. Also known as estate tax, it is levied by governments of most western countries, including the US and the UK.

India too had this tax, but it was abolished by the Rajiv Gandhi government in 1985.

Hospitals, universities and other institutions in developed countries receive large endowments due to factors like inheritance tax, which is not the case in India, Finance Minister Arun Jaitley said Tuesday.

Hospitals, universities and other institutions in developed countries receive large endowments due to factors like inheritance tax, which is not the case in India, Finance Minister Arun Jaitley said Tuesday. Analysing the means of funding for India's healthcare and educational bodies as against the global ways, Jaitley said such institutions in the country receive donations from religious groups and CSR programmes. "Most hospitals internationally have some of the largest endowments. Most educational institutes have some of the largest endowments. Those endowments come to the educational institutions from their alumni, who have benefitted from the quality of those institutions.'' "Once they are successful in life, they keep supporting the institutions with those endowments. Some IITs have started that experiment now in India. But still it's not very largely prevalent," Jaitley said at an event in AIIMS here. He said the endowments received by some major hospitals in the US and Europe run into billions of dollars, which are provided by people and patients who have benefitted from them. "So I was analysing that why that condition doesn't exist in our country. And one of the reasons I found out was that those societies have a very large inheritance tax. Therefore a lot of people in their old age prefer to go for charitable donations in order to get around that inheritance tax. Since we don't have that inheritance tax in India, our charities are not in terms of such endowments," he said. The finance minister said charities in India depend on social endowments. "Educational institutions, hospitals are set up by religious groups, caste groups by communities and so on. The social sector in India gets funded more on a community basis, except for this new beginning that we started in the last four years when we started the corporate social responsibility," he noted. Under the Companies Act, 2013, certain class of profitable entities are required to shell out at least 2 per cent of their three-year annual average net profit towards Corporate Social Responsibility (CSR) activities. Inheritance tax is levied on the wealth inherited by the legal heirs of a deceased person. Also known as estate tax, it is levied by governments of most western countries, including the US and the UK. India too had this tax, but it was abolished by the Rajiv Gandhi government in 1985.

Inheritance tax has spurred large endowments to hospitals, universities in West: Jaitley

The outgoing year marks a watershed in the annals of the country’s apex bank as the Reserve Bank of India (RBI) turned out to be a tussling ground for its governor and the government.

The denouement came when the soft, scholarly and self-effacing twenty-fourth governor of the central bank, Urjit Patel, called it quits on December 10 and the government lost little time in filling the vacancy with a retired career bureaucrat and Member Fifteenth Finance Commission, Shaktikanta Das.

In a written reply to a query, Minister of State for Finance Shiv Pratap Shukla, conceded in the Lok Sabha on December 14 that the “government asked RBI for a review of its Economic Capital Framework (ECF) adopted in 2016… the board has decided to constitute an Expert Committee to examine the ECF, the membership of the terms of reference of which will be jointly determined by the government and the RBI”.&nbsp;

It needs to be noted that the erstwhile governor Patel stuck to his guns in not yielding an inch in the governing structure and economic policy framework that would translate into more access to the government to RBI’s surplus reserves of Rs 9.3 lakh crore.

This is all the more so when the RBI has the big mandate to keep inflation at four per cent within a band of plus/minus one per cent. So any leeway or access to the surplus funds parked with the banking regulator being extended to the government especially at a time when the nation is going to the mega polls in 2019, is bound to goad it to splurge on goodies and other populist schemes that would only stoke and fuel inflationary fires before long. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;

Though other weighty issues such as credit and liquidity being made reasonably available to the real sectors of the economy and at an affordable cost, the central bank is seized of the problems and is taking steps to ensure that credit delivery to the vital sectors is ensured through various ongoing measures it had kept unveiling from time to time.&nbsp;

RBI data reveals that the banking system’s non-food credit growth, which touched a nadir to 7-8 per cent in the three years to October 2017 (when the RBI cracked the whip to cleanse the stable of sore NPAs), returned to double-digit growth between October 2017 to October 2018 at 13 per cent.

The arrival of a bureaucrat to the RBI as its top man is coterminous with the efforts of the BJP-led NDA government to revive the fortunes of the slowing economy. For Shaktikanta Das, who was instrumental in altering the industrial landscape of Tamil Nadu as the Industries Secretary in two spells, his elevation to the corner office of the central bank is bound to be keenly watched by wonks. He had worked in the Finance Ministry at various levels and was representing the government side in framing the inflation-targeting as the supreme remit of the RBI, besides being a vocal supporter of the controversial demonetisation policy of the government.

He has plates full of priority issues that range from RBI governance, transfer of RBI reserves to the government, systemic liquidity encompassing a window for distressed finance companies, relaxation of the February 12 circular, which hardened the norms for non-performing loans to allowing banks that are in the Prompt Corrective Action (PCA) category, to resume lending.&nbsp;

The first board meeting he presided over on December 14 was shorn of drama/trauma, confined to less than an hour by resolving to examine the issues further, review liquidity, credit delivery and economic situation.

As its next board meeting is in January 2019, Das must perforce have to balance his new avatar as a central banker with his quondam position as one from the other side of the ring, so that he is seen not abandoning the quest of his predecessor bureaucrat-turned RBI governors such as YV Reddy and D Subba Rao, who strove to ensure the autonomy, credibility and independence of the RBI even by demurring with their Finance Ministers in their own unobtrusive ways.

(This article was originally published on DNA. Read the <a href="https://www.dnaindia.com/analysis/column-shaktikanta-das-has-a-job-cut-out-for-himself-at-rbi-2699553">original article</a>)

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

The outgoing year marks a watershed in the annals of the country’s apex bank as the Reserve Bank of India (RBI) turned out to be a tussling ground for its governor and the government.

The outgoing year marks a watershed in the annals of the country’s apex bank as the Reserve Bank of India (RBI) turned out to be a tussling ground for its governor and the government. The denouement came when the soft, scholarly and self-effacing twenty-fourth governor of the central bank, Urjit Patel, called it quits on December 10 and the government lost little time in filling the vacancy with a retired career bureaucrat and Member Fifteenth Finance Commission, Shaktikanta Das. In a written reply to a query, Minister of State for Finance Shiv Pratap Shukla, conceded in the Lok Sabha on December 14 that the “government asked RBI for a review of its Economic Capital Framework (ECF) adopted in 2016… the board has decided to constitute an Expert Committee to examine the ECF, the membership of the terms of reference of which will be jointly determined by the government and the RBI”. It needs to be noted that the erstwhile governor Patel stuck to his guns in not yielding an inch in the governing structure and economic policy framework that would translate into more access to the government to RBI’s surplus reserves of Rs 9.3 lakh crore. This is all the more so when the RBI has the big mandate to keep inflation at four per cent within a band of plus/minus one per cent. So any leeway or access to the surplus funds parked with the banking regulator being extended to the government especially at a time when the nation is going to the mega polls in 2019, is bound to goad it to splurge on goodies and other populist schemes that would only stoke and fuel inflationary fires before long. Though other weighty issues such as credit and liquidity being made reasonably available to the real sectors of the economy and at an affordable cost, the central bank is seized of the problems and is taking steps to ensure that credit delivery to the vital sectors is ensured through various ongoing measures it had kept unveiling from time to time. RBI data reveals that the banking system’s non-food credit growth, which touched a nadir to 7-8 per cent in the three years to October 2017 (when the RBI cracked the whip to cleanse the stable of sore NPAs), returned to double-digit growth between October 2017 to October 2018 at 13 per cent. The arrival of a bureaucrat to the RBI as its top man is coterminous with the efforts of the BJP-led NDA government to revive the fortunes of the slowing economy. For Shaktikanta Das, who was instrumental in altering the industrial landscape of Tamil Nadu as the Industries Secretary in two spells, his elevation to the corner office of the central bank is bound to be keenly watched by wonks. He had worked in the Finance Ministry at various levels and was representing the government side in framing the inflation-targeting as the supreme remit of the RBI, besides being a vocal supporter of the controversial demonetisation policy of the government. He has plates full of priority issues that range from RBI governance, transfer of RBI reserves to the government, systemic liquidity encompassing a window for distressed finance companies, relaxation of the February 12 circular, which hardened the norms for non-performing loans to allowing banks that are in the Prompt Corrective Action (PCA) category, to resume lending. The first board meeting he presided over on December 14 was shorn of drama/trauma, confined to less than an hour by resolving to examine the issues further, review liquidity, credit delivery and economic situation. As its next board meeting is in January 2019, Das must perforce have to balance his new avatar as a central banker with his quondam position as one from the other side of the ring, so that he is seen not abandoning the quest of his predecessor bureaucrat-turned RBI governors such as YV Reddy and D Subba Rao, who strove to ensure the autonomy, credibility and independence of the RBI even by demurring with their Finance Ministers in their own unobtrusive ways. (This article was originally published on DNA. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Shaktikanta Das has a job cut out for himself at RBI

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