<p>The Finance Bill was&nbsp;passed in Lok Sabha today after&nbsp;it was&nbsp;tabled amid a major din in the House.</p>

<p>Finance Minister Arun Jaitley moved the Finance Bill, as well as the Appropriation Bill which were passed by a voice vote.</p>

<p>Meanwhile, Rajya Sabha was adjourned for the day as NDA ally&nbsp;TDP continued to protest.&nbsp;</p>


Finance Minister Arun Jaitley moved the Finance Bill

The Finance Bill was passed in Lok Sabha today after it was tabled amid a major din in the House. Finance Minister Arun Jaitley moved the Finance Bill, as well as the Appropriation Bill which were passed by a voice vote. Meanwhile, Rajya Sabha was adjourned for the day as NDA ally TDP continued to protest.

Finance Bill passed in Lok Sabha

<p>President Donald Trump said Tuesday there&#39;s a &quot;very good chance&quot; he would name conservative television personality Larry Kudlow to replace top economic advisor Gary Cohn, who resigned last week following a battle over import tariffs.</p>

<p>Like Cohn, Kudlow has a record of opposing import duties on steel and aluminum, but Trump said the TV pundit had &quot;come around to believing in tariffs.&quot;</p>

<p>&quot;I&#39;m looking at Larry Kudlow very strongly. I&#39;ve known him a long time,&quot; Trump said at the White House as he prepared to depart for California to view prototypes of a border wall, long a centerpiece of his immigration policies.</p>

<p>&quot;Larry has been a friend of mine for a long time. He backed me very early in the campaign. I think he was one of my original backers. He&#39;s a very, very talented man.</p>

<p>&quot;I&#39;m also speaking to many others. But I think Larry has a very good chance,&quot; Trump added.</p>

<p>Under former President Ronald Reagan, Kudlow, 70, oversaw the White House Office of Management and Budget for five years.</p>

<p>He also served as chief economist at the onetime investment bank Bear Stearns from 1987 to 1994.</p>

<p>Kudlow joined the cable business news network CNBC in 2001, where he has since featured prominently as a commentator and host, with an exuberant style and bullish, pro-free trade views.</p>

<p>Still, in 2007, on the eve of the global financial crisis, he told viewers there would be no recession in the United States.</p>

<p>Two years ago, Kudlow supported Trump&#39;s bid for the White House, favoring the Republican&#39;s campaign pledges to build a wall and cut taxes.</p>

<p>Married three times, Kudlow has acknowledged undergoing treatment for alcoholism and cocaine dependency in the 1990s.</p>


Under former President Ronald Reagan, Kudlow, 70, oversaw the White House Office of Management and Budget for five years.

President Donald Trump said Tuesday there's a "very good chance" he would name conservative television personality Larry Kudlow to replace top economic advisor Gary Cohn, who resigned last week following a battle over import tariffs. Like Cohn, Kudlow has a record of opposing import duties on steel and aluminum, but Trump said the TV pundit had "come around to believing in tariffs." "I'm looking at Larry Kudlow very strongly. I've known him a long time," Trump said at the White House as he prepared to depart for California to view prototypes of a border wall, long a centerpiece of his immigration policies. "Larry has been a friend of mine for a long time. He backed me very early in the campaign. I think he was one of my original backers. He's a very, very talented man. "I'm also speaking to many others. But I think Larry has a very good chance," Trump added. Under former President Ronald Reagan, Kudlow, 70, oversaw the White House Office of Management and Budget for five years. He also served as chief economist at the onetime investment bank Bear Stearns from 1987 to 1994. Kudlow joined the cable business news network CNBC in 2001, where he has since featured prominently as a commentator and host, with an exuberant style and bullish, pro-free trade views. Still, in 2007, on the eve of the global financial crisis, he told viewers there would be no recession in the United States. Two years ago, Kudlow supported Trump's bid for the White House, favoring the Republican's campaign pledges to build a wall and cut taxes. Married three times, Kudlow has acknowledged undergoing treatment for alcoholism and cocaine dependency in the 1990s.

Trump eyes TV pundit as new economics guru

<p>Chinese state media on Tuesday defended the country&#39;s 8.1 percent budgeted increase in military spending for this year as proportionate and low, saying Beijing has not been goaded into an arms race with the United States.</p>

<p>China on Monday unveiled its largest defence spending increase in three years, fuelling an ambitious military modernisation programme and making its neighbours, particularly Japan and self-ruled Taiwan, nervous.</p>

<p>The defence spending figure is closely watched worldwide for clues to China&#39;s strategic intentions as it develops new military capabilities, including stealth fighters, aircraft carriers and anti-satellite missiles.</p>

<p>China insists its military spending is transparent and that it poses a threat to nobody, simply needing to update old equipment and defend its legitimate interests, even as it is increasingly assertive over disputes in the East and South China Seas and on self-ruled Taiwan, which China claims.</p>

<p>In an editorial, the official China Daily said the figures had prompted &quot;finger-pointing from the usual suspects&quot;.</p>

<p>&quot;China&#39;s defence budget is neither the largest in size - it accounts for just one-fourth of the military spending of the United States - nor does it have the fastest growth rate,&quot; the English-language newspaper said.&nbsp;</p>

<p>&quot;And if calculated in per capita terms, China&#39;s military lags well behind other major countries.&quot;</p>

<p>In the East and South China Seas, China is simply trying to stand up for itself, the paper added.</p>

<p>&quot;The country has seen its maritime interests being increasingly infringed upon in recent years, and thus seeking a stronger military is natural for it to safeguard its interests and counter any threat that may materialise from the aggressive posturing of others upset by its rise.&quot;</p>

<p>China has seen the United States as its biggest potential security threat, alarming Beijing with freedom of navigation patrols in the South China Sea the United States calling China a strategic competitor.</p>

<p>US&nbsp;President Donald Trump has proposed the largest military budget since 2011, focused on beefing up the United States&#39;&nbsp;nuclear defences and countering the growing strength of China and Russia.</p>

<p>Official Chinese defence spending is about one-quarter that of the United States, though many foreign analysts and diplomats say China under-reports the figure.</p>

<p>Widely-read Chinese tabloid the Global Times said if China really wanted to expand militarily, the defence budget should really be rising 20 to 30 per cent.</p>

<p>&quot;China has obviously not fallen into the mind-set of engaging in an arms race with the US&nbsp;Otherwise it could totally realise double-digit increases in its defence expenditure,&quot; the paper said in its editorial.</p>

<p>US&nbsp;provocations in the South China Sea, tension in the Taiwan Strait and the United States, Japan, Australia and India forming alliances demand a rise in spending, it added.&nbsp;</p>

<p>&quot;But Beijing has stuck to its own template and was not disturbed by external factors.&quot;&nbsp;<br />
&nbsp;</p>


China on Monday unveiled its largest defence spending increase in three years

Chinese state media on Tuesday defended the country's 8.1 percent budgeted increase in military spending for this year as proportionate and low, saying Beijing has not been goaded into an arms race with the United States. China on Monday unveiled its largest defence spending increase in three years, fuelling an ambitious military modernisation programme and making its neighbours, particularly Japan and self-ruled Taiwan, nervous. The defence spending figure is closely watched worldwide for clues to China's strategic intentions as it develops new military capabilities, including stealth fighters, aircraft carriers and anti-satellite missiles. China insists its military spending is transparent and that it poses a threat to nobody, simply needing to update old equipment and defend its legitimate interests, even as it is increasingly assertive over disputes in the East and South China Seas and on self-ruled Taiwan, which China claims. In an editorial, the official China Daily said the figures had prompted "finger-pointing from the usual suspects". "China's defence budget is neither the largest in size - it accounts for just one-fourth of the military spending of the United States - nor does it have the fastest growth rate," the English-language newspaper said. "And if calculated in per capita terms, China's military lags well behind other major countries." In the East and South China Seas, China is simply trying to stand up for itself, the paper added. "The country has seen its maritime interests being increasingly infringed upon in recent years, and thus seeking a stronger military is natural for it to safeguard its interests and counter any threat that may materialise from the aggressive posturing of others upset by its rise." China has seen the United States as its biggest potential security threat, alarming Beijing with freedom of navigation patrols in the South China Sea the United States calling China a strategic competitor. US President Donald Trump has proposed the largest military budget since 2011, focused on beefing up the United States' nuclear defences and countering the growing strength of China and Russia. Official Chinese defence spending is about one-quarter that of the United States, though many foreign analysts and diplomats say China under-reports the figure. Widely-read Chinese tabloid the Global Times said if China really wanted to expand militarily, the defence budget should really be rising 20 to 30 per cent. "China has obviously not fallen into the mind-set of engaging in an arms race with the US Otherwise it could totally realise double-digit increases in its defence expenditure," the paper said in its editorial. US provocations in the South China Sea, tension in the Taiwan Strait and the United States, Japan, Australia and India forming alliances demand a rise in spending, it added. "But Beijing has stuck to its own template and was not disturbed by external factors."

China defends defence spending rise as low, proportional

<p>Prime Minister Narendra Modi on Sunday gave yet another indication that the upcoming budget will not be a populist one.</p>

<p>Last week, asked <a href="http://www.wionews.com/india-news/my-governments-only-agenda-for-budget-is-development-pm-modi-to-zee-news-30099">in an interview to the Zee Group</a> whether the budget would be political one where he would try to appease the voter, PM Modi said that his government&#39;s <a href="http://www.wionews.com/india-news/upa-government-was-unable-to-solve-gst-issues-pm-modi-to-wion-30214">only mantra was development</a>.</p>

<p>&quot;Budget or no budget. Election or no election. First budget or last budget. BJP and Modi have only one mantra -- development. whatever is required to achieve this mission, we will do. That has been our only intention,&quot; PM Modi had said in the interview.</p>

<p>In an interview to a news channel on Sunday, when asked&nbsp;if his government will turn populist in its last full-year budget before the general elections in 2019, the prime minister again hinted that the budget would not be populist.</p>

<p>He said it was a &quot;myth&quot; that the common man expects &quot;freebies and sops&quot; from the government.</p>

<p>&quot;But those who have seen me as the chief minister (of Gujarat) and also as the prime minister (would know) common man does not want all these things. It is a myth,&quot; he said.</p>

<p>The common man, he said, expects honest governance. &quot;He doesn&#39;t demand sops and freebies. It is our myth.&quot;</p>

<p>PM Modi said his government was taking decisions to fulfil the needs and aspirations of the common man.</p>

<p>Asked specifically if he will resist populism in the budget, the prime minister said it needs to be decided if the country needs to grow and become strong, should &quot;this political culture, the Congress culture, be followed&quot;.</p>

<p>He also said that the budget fell under the purview of the finance minister and that he did not want to interfere in it.</p>

<p>The budget will be presented on February 1.</p>

<p><br />
&nbsp;</p>


PM Modi said it was a 'myth' that the common man expects 'freebies and sops' from the government

Prime Minister Narendra Modi on Sunday gave yet another indication that the upcoming budget will not be a populist one. Last week, asked in an interview to the Zee Group whether the budget would be political one where he would try to appease the voter, PM Modi said that his government's only mantra was development. "Budget or no budget. Election or no election. First budget or last budget. BJP and Modi have only one mantra -- development. whatever is required to achieve this mission, we will do. That has been our only intention," PM Modi had said in the interview. In an interview to a news channel on Sunday, when asked if his government will turn populist in its last full-year budget before the general elections in 2019, the prime minister again hinted that the budget would not be populist. He said it was a "myth" that the common man expects "freebies and sops" from the government. "But those who have seen me as the chief minister (of Gujarat) and also as the prime minister (would know) common man does not want all these things. It is a myth," he said. The common man, he said, expects honest governance. "He doesn't demand sops and freebies. It is our myth." PM Modi said his government was taking decisions to fulfil the needs and aspirations of the common man. Asked specifically if he will resist populism in the budget, the prime minister said it needs to be decided if the country needs to grow and become strong, should "this political culture, the Congress culture, be followed". He also said that the budget fell under the purview of the finance minister and that he did not want to interfere in it. The budget will be presented on February 1.

Budget may not be populist, indicates PM Modi

<p>Congress president Rahul Gandhi will on Thursday meet senior party leaders over strategy for upcoming budget session of Parliament.</p>

<p>He is expected to finalise the Congress&rsquo; strategy to corner government in the parliament.</p>

<p>First part of budget session is to be held from January 29 to February 9.</p>

<p>The session assumes importance as the Prime Minister Narendra Modi led National Democratic Alliance (NDA) government will present its last budget in its tenure on February 1.</p>

<p>The second part of the Budget session will be held from March 5 to April 6.</p>


He is expected to finalise the Congress’ strategy to corner government in the parliament.

Congress president Rahul Gandhi will on Thursday meet senior party leaders over strategy for upcoming budget session of Parliament. He is expected to finalise the Congress’ strategy to corner government in the parliament. First part of budget session is to be held from January 29 to February 9. The session assumes importance as the Prime Minister Narendra Modi led National Democratic Alliance (NDA) government will present its last budget in its tenure on February 1. The second part of the Budget session will be held from March 5 to April 6.

Rahul to finalise budget session strategy tomorrow

<p>Prime Minister Narendra Modi on Friday said that his government&#39;s only <a href="http://www.wionews.com/india-news/arun-jaitley-chairs-pre-budget-meeting-in-delhi-29924">agenda for the Budget</a> is development.</p>

<p>&quot;My government has only one agenda for Budget - and that is development. And that&#39;s what you will see,&quot; PM Modi said in an exclusive interview to Zee News.</p>

<p>Modi government is going to present its <a href="http://www.wionews.com/india-news/india-plans-to-raise-health-spending-by-11-in-budget-less-than-requested-29949">last full Budget</a> ahead of the general elections 2019. The financial statement for the year ahead is being keenly watched by critics because of tough decisions taken by the Modi government like launching the unified Goods and Services Tax (GST) and demonetisation.</p>

<p>When asked about the bold financial decisions taken by his government, PM Modi said, &quot;If you measure the work done by our government in these four years by only these two parametres, it&#39;s unfair. After nationalisation of banks, about 30-40 per cent of population was out of banking system. We brought them into the system. Isn&#39;t that an achievement? Thousands of girls skipped schools because there were no toilets. We built those toilets for them. Isn&#39;t that an achievement?&rdquo;</p>

<p>Modi also said that he is in favour of holding general elections and state polls together.</p>

<p>&quot;Logically speaking, holding different elections in different dates creates burden on the exchequer. Politicians are always under stress. So I think both Vidhan Sabha and Lok Sabha elections should be organised simultaneously. It will save money and manpower,&quot; the PM said.</p>

<p>Modi said that his government&#39;s achievements can&#39;t be measured on just two decisions - the Goods and Services Tax (GST) and demonetisation.</p>

<p>He also said that every atom of his body is indebted to the country and he wants to keep serving the people of the country. &quot;When I see satisfaction in the eyes of a common man, it gives me power,&quot; PM Modi said.</p>

<p><em>These are the highlights of the interview.&nbsp; </em><em>Catch the full interview on Zee News at 8pm on Saturday.</em></p>


Modi government is going to present its last full Budget ahead of the general elections 2019.

Prime Minister Narendra Modi on Friday said that his government's only agenda for the Budget is development. "My government has only one agenda for Budget - and that is development. And that's what you will see," PM Modi said in an exclusive interview to Zee News. Modi government is going to present its last full Budget ahead of the general elections 2019. The financial statement for the year ahead is being keenly watched by critics because of tough decisions taken by the Modi government like launching the unified Goods and Services Tax (GST) and demonetisation. When asked about the bold financial decisions taken by his government, PM Modi said, "If you measure the work done by our government in these four years by only these two parametres, it's unfair. After nationalisation of banks, about 30-40 per cent of population was out of banking system. We brought them into the system. Isn't that an achievement? Thousands of girls skipped schools because there were no toilets. We built those toilets for them. Isn't that an achievement?” Modi also said that he is in favour of holding general elections and state polls together. "Logically speaking, holding different elections in different dates creates burden on the exchequer. Politicians are always under stress. So I think both Vidhan Sabha and Lok Sabha elections should be organised simultaneously. It will save money and manpower," the PM said. Modi said that his government's achievements can't be measured on just two decisions - the Goods and Services Tax (GST) and demonetisation. He also said that every atom of his body is indebted to the country and he wants to keep serving the people of the country. "When I see satisfaction in the eyes of a common man, it gives me power," PM Modi said. These are the highlights of the interview. Catch the full interview on Zee News at 8pm on Saturday.

My government's only agenda for Budget is development: PM Modi to Zee News

<p>With rise in personal disposable income post 7th Pay Commission, the income tax exemption limit needs to be raised by Rs 50,000 to Rs 3 lakh, an SBI report said today.</p>

<p>The move will benefit around 75 lakh people, it said.</p>

<p>The SBI&#39;s Ecowrap report further said that if the exemption limit of interest payments under housing loan is increased to Rs 2.5 lakhs for existing home loan buyers, from Rs 2 lakhs now, it will benefit 75 lakh home loan buyers and cost the government just about Rs 7,500 crore.</p>

<p>Finance Minister Arun Jaitley is set to present the fifth and final full budget of the current government on February 1.</p>

<p>The government has periodically increased the income tax slabs from Rs 22,000 in 1990-91 to Rs 2.5 lakh in 2014-15.</p>

<p>&quot;Due to 7th pay commission, the personal disposable income has been increased, so we believe there is a need to raise the exemption limit to Rs 3 lakh. Due to such increase in limit, around 75 lakh tax payers will be exempted from income tax,&quot; said the report -- &#39;Union Budget: If wishes were horses!&#39;.</p>

<p>It has also pitched for incentivising savings through bank deposits. In an effort to incentivise savings, it said, the government can exempt interest of savings bank deposits.</p>

<p>The exemption limit on TDS on interest on term deposits with banks may be raised from the present limit of Rs 10,000 per annum, it said.</p>

<p>Also, the lock-in period for tax savings term deposits needs to be reduced to 3 years from the present 5 years and these deposits should be brought under EEE (exempt, exempt, exempt) tax regime.</p>

<p>The SBI report said that SBI&#39;s expectations regarding the forthcoming budget are based upon principle of inclusive growth and meeting the medium and long term objectives set by the government.</p>

<p>&quot;As per our reading of the things, budget should give priority to agriculture, MSME, infrastructure and affordable housing,&quot; it said.</p>

<p>Agriculture reforms should aim at re-examination of legally created structures whose provisions are restrictive and create barriers to free trade, it said.</p>

<p>Centre in conjunction with states should emulate the price support schemes like in Madhya Pradesh and Haryana say &#39;Bhavantar Krishi Yojana&#39; for major crops (including vegetables).</p>

<p>&quot;This scheme will help farmers in situations (when wholesale price of the crop is less than the MSP) and the cost of which is only 10 per cent of farm loan waiver programme as per our estimates. Provision of A2 milk in Mid-day meals for children will create adequate additional income for 16 million farmer per year,&quot; the report said.</p>

<p>Regarding investment revival, the report said capital subsidy in case of delayed projects equal to cost overrun may be provided. Cost overrun may be funded at concessional interest rate by the government in such cases.</p>

<p>Also, there is a &quot;dire need&quot; to publish monthly payroll report in India for formal sector as job creation is &quot;grossly underreported&quot;.</p>

<p>Other measures like providing support infrastructure and skilling and certifying workers need to be adopted, it added.</p>


The SBI's Ecowrap report further said that if the exemption limit of interest payments under housing loan is increased to Rs 2.5 lakhs for existing home loan buyers, it will benefit 75 lakh home loan buyers and cost the government just about Rs 7,500 crore

With rise in personal disposable income post 7th Pay Commission, the income tax exemption limit needs to be raised by Rs 50,000 to Rs 3 lakh, an SBI report said today. The move will benefit around 75 lakh people, it said. The SBI's Ecowrap report further said that if the exemption limit of interest payments under housing loan is increased to Rs 2.5 lakhs for existing home loan buyers, from Rs 2 lakhs now, it will benefit 75 lakh home loan buyers and cost the government just about Rs 7,500 crore. Finance Minister Arun Jaitley is set to present the fifth and final full budget of the current government on February 1. The government has periodically increased the income tax slabs from Rs 22,000 in 1990-91 to Rs 2.5 lakh in 2014-15. "Due to 7th pay commission, the personal disposable income has been increased, so we believe there is a need to raise the exemption limit to Rs 3 lakh. Due to such increase in limit, around 75 lakh tax payers will be exempted from income tax," said the report -- 'Union Budget: If wishes were horses!'. It has also pitched for incentivising savings through bank deposits. In an effort to incentivise savings, it said, the government can exempt interest of savings bank deposits. The exemption limit on TDS on interest on term deposits with banks may be raised from the present limit of Rs 10,000 per annum, it said. Also, the lock-in period for tax savings term deposits needs to be reduced to 3 years from the present 5 years and these deposits should be brought under EEE (exempt, exempt, exempt) tax regime. The SBI report said that SBI's expectations regarding the forthcoming budget are based upon principle of inclusive growth and meeting the medium and long term objectives set by the government. "As per our reading of the things, budget should give priority to agriculture, MSME, infrastructure and affordable housing," it said. Agriculture reforms should aim at re-examination of legally created structures whose provisions are restrictive and create barriers to free trade, it said. Centre in conjunction with states should emulate the price support schemes like in Madhya Pradesh and Haryana say 'Bhavantar Krishi Yojana' for major crops (including vegetables). "This scheme will help farmers in situations (when wholesale price of the crop is less than the MSP) and the cost of which is only 10 per cent of farm loan waiver programme as per our estimates. Provision of A2 milk in Mid-day meals for children will create adequate additional income for 16 million farmer per year," the report said. Regarding investment revival, the report said capital subsidy in case of delayed projects equal to cost overrun may be provided. Cost overrun may be funded at concessional interest rate by the government in such cases. Also, there is a "dire need" to publish monthly payroll report in India for formal sector as job creation is "grossly underreported". Other measures like providing support infrastructure and skilling and certifying workers need to be adopted, it added.

Budget 2018: Increase tax exemption limit to Rs 3 lakh, says SBI report

<p>PM Modi slipped into a short session with the CEOs and business leaders ahead of his keynote address at the World Economic Forum event at Davos yesterday.&nbsp;</p>

<p>The Prime Minister was supposed to begin his address at 11.15 am (around 3.30 pm IST) at Davos. He got in for a quick chat with business leaders slightly ahead of his opening plenary session.&nbsp;</p>

<p>During his meeting, PM Modi hinted at the possibility of a tougher budget this time saying that, &quot;Why are all of you not smiling? You seem to be pleased with me now but just wait for the budget.&quot;</p>

<p>Prime Minister Narendra Modi also held a roundtable meet with CEOs on Monday evening mentioning that &#39;India means business&#39;.</p>

<p>PM Modi then rushed for his keynote address at the Davos event which lasted for almost an hour where he highlighted the key achievements of his administration.&nbsp;</p>

<p>&quot;India is removing the red tape and laying out the red carpet,&quot; said Mr Modi.</p>

<p>&quot;Almost all areas of our economy have been opened to foreign direct investment,&quot; he added.&nbsp;</p>

<p>He later met with his Canadian counterpart to address bilateral ties.&nbsp;</p>

<p>Prime Minister Narendra Modi reached India early morning today after a &quot;historic and successful participation&quot; at the World Economic Forum (WEF) annual summit.</p>

<p>PM Modi became the first Indian prime minister to attend the summit in two decades.</p>

<p>The prime minister is expected to meet his cabinet today.</p>

<p>He will also interact with the Vietnamese Prime Minister, the President of Philippines and State Counsellor of Myanmar Daw, Aung San Suu Kyi later in the day.&nbsp;</p>


PM Modi slipped into a short session with the CEOs and business leaders ahead of his keynote address at Davos.

PM Modi slipped into a short session with the CEOs and business leaders ahead of his keynote address at the World Economic Forum event at Davos yesterday. The Prime Minister was supposed to begin his address at 11.15 am (around 3.30 pm IST) at Davos. He got in for a quick chat with business leaders slightly ahead of his opening plenary session. During his meeting, PM Modi hinted at the possibility of a tougher budget this time saying that, "Why are all of you not smiling? You seem to be pleased with me now but just wait for the budget." Prime Minister Narendra Modi also held a roundtable meet with CEOs on Monday evening mentioning that 'India means business'. PM Modi then rushed for his keynote address at the Davos event which lasted for almost an hour where he highlighted the key achievements of his administration. "India is removing the red tape and laying out the red carpet," said Mr Modi. "Almost all areas of our economy have been opened to foreign direct investment," he added. He later met with his Canadian counterpart to address bilateral ties. Prime Minister Narendra Modi reached India early morning today after a "historic and successful participation" at the World Economic Forum (WEF) annual summit. PM Modi became the first Indian prime minister to attend the summit in two decades. The prime minister is expected to meet his cabinet today. He will also interact with the Vietnamese Prime Minister, the President of Philippines and State Counsellor of Myanmar Daw, Aung San Suu Kyi later in the day.

You seem pleased with me now but just wait for the Budget: PM Modi to CEOs

<p>The government may marginally raise the corpus for Sugar Development Fund (SDF) to Rs 500 crore in the upcoming Budget for 2018-19.</p>

<p>SDF, managed by the food ministry, is used for lending money to mills at lower interest rates. Till last fiscal, the cess - collected from sugar mills - was deposited in it.</p>

<p>When GST kicked in, the sugar cess was scrapped and hence a separate budgetary provision of Rs 496 crore was made for SDF for 2017-18.</p>

<p>&quot;Most of the fund allocated for this fiscal under SDF has been utilised. There is a possibility that the budgetary allocation for SDF increase marginally to Rs 500 crore for the next fiscal,&quot; sources said.</p>

<p>It is a revolving fund. If sugar mills clear the loan, the same fund will be used for further lending else the availability of funds will be less, the sources said.</p>

<p>SDF was set up in 1982 to provide financial help for development of sugar industry. Since inception, about Rs 7,500 crore has been disbursed to sugar factories.</p>

<p>In recent years, SDF has been used to finance various interventions of the government to deal with the crisis in sugar industry.</p>

<p>Industry body ISMA has revised its sugar production estimate for the 2017-18 season (October-September) to around 261 lakh tonne, against the first advance estimate of 251 lakh tonne.&nbsp;</p>


When GST kicked in, the sugar cess was scrapped and hence a separate budgetary provision of Rs 496 crore was made for SDF for 2017-18

The government may marginally raise the corpus for Sugar Development Fund (SDF) to Rs 500 crore in the upcoming Budget for 2018-19. SDF, managed by the food ministry, is used for lending money to mills at lower interest rates. Till last fiscal, the cess - collected from sugar mills - was deposited in it. When GST kicked in, the sugar cess was scrapped and hence a separate budgetary provision of Rs 496 crore was made for SDF for 2017-18. "Most of the fund allocated for this fiscal under SDF has been utilised. There is a possibility that the budgetary allocation for SDF increase marginally to Rs 500 crore for the next fiscal," sources said. It is a revolving fund. If sugar mills clear the loan, the same fund will be used for further lending else the availability of funds will be less, the sources said. SDF was set up in 1982 to provide financial help for development of sugar industry. Since inception, about Rs 7,500 crore has been disbursed to sugar factories. In recent years, SDF has been used to finance various interventions of the government to deal with the crisis in sugar industry. Industry body ISMA has revised its sugar production estimate for the 2017-18 season (October-September) to around 261 lakh tonne, against the first advance estimate of 251 lakh tonne.

Budget 2018: Govt may allot Rs 500cr for sugar development fund

<p>As the<a href="http://www.wionews.com/india-news/after-wall-street-bloodbath-sensex-plunges-over-1000-points-31936"> downward spiral of the Sensex</a> continued, finance secretary Hasmukh Adhia today said that the Sensex tumble the day after the budget and on February 5 was mainly because of the global shake-up and not a fall-out of the budget announcement on February 1.</p>

<p>The finance secretary said that had the budget been responsible for the fall in the 30-share barometer, the Sensex and Nifty would have nosedived on the budget day itself. He also said that the &quot;global meltdown came at a very wrong time for us.&quot;</p>

<p>&quot;What happened on February 2 and February 5 was mainly because of a global shakeup. We aren&#39;t living in an island so there will be ripple effect of what is happening in world on Indian stock markets. Otherwise the sensex and the NSE (National Stock Exchange) would have come down on the first day itself.&quot;</p>

<p>&quot;We couldn&#39;t have shifted budget&#39;s date, global meltdown in stock exchange came at very wrong time for us. Following budget on 1st February, even after declaring there is long-term capital gain tax, the market was okay at end of day. There was only minimal disruption on day 1,&quot; he added.</p>

<p>On February 1, on the day of the budget, the Sensex had fallen over 460 points in afternoon trade after the announcement of long-term capital gains tax on stock market gains exceeding Rs 1 lakh.&nbsp;</p>

<p><a href="http://www.wionews.com/business-economy/day-after-budget-sensex-nifty-nosedive-31587">On February 2</a>, a day after the Budget, the Sensex had crashed 839.91 points to end at 35,066.75 and the Nifty sank 256.30 points to 10,760.60.</p>

<p>On February 5, the Sensex <a href="http://www.wionews.com/india-news/sensex-plunges-over-400-points-in-opening-trade-31804">plunged 545 points</a> to trade below the 35,000 mark on global cues.</p>

<p>&nbsp;</p>


Hasmukh Adhia said that the Sensex tumble the day after the budget and on February 5 was mainly because of the global shake-up and not a fall-out of the budget announcement on February 1

As the downward spiral of the Sensex continued, finance secretary Hasmukh Adhia today said that the Sensex tumble the day after the budget and on February 5 was mainly because of the global shake-up and not a fall-out of the budget announcement on February 1. The finance secretary said that had the budget been responsible for the fall in the 30-share barometer, the Sensex and Nifty would have nosedived on the budget day itself. He also said that the "global meltdown came at a very wrong time for us." "What happened on February 2 and February 5 was mainly because of a global shakeup. We aren't living in an island so there will be ripple effect of what is happening in world on Indian stock markets. Otherwise the sensex and the NSE (National Stock Exchange) would have come down on the first day itself." "We couldn't have shifted budget's date, global meltdown in stock exchange came at very wrong time for us. Following budget on 1st February, even after declaring there is long-term capital gain tax, the market was okay at end of day. There was only minimal disruption on day 1," he added. On February 1, on the day of the budget, the Sensex had fallen over 460 points in afternoon trade after the announcement of long-term capital gains tax on stock market gains exceeding Rs 1 lakh. On February 2, a day after the Budget, the Sensex had crashed 839.91 points to end at 35,066.75 and the Nifty sank 256.30 points to 10,760.60. On February 5, the Sensex plunged 545 points to trade below the 35,000 mark on global cues.

Global meltdown came at wrong time: Finance secretary on Sensex tumble after budget

<p>NDA&#39;s alliance partner <a href="http://www.wionews.com/india-news/crucial-tdp-meet-underway-to-review-alliance-with-bjp-31730">the Telugu Desam Party(TDP) </a>sent a notice to the Rajya Sabha today over Budget allocation to&nbsp;Andhra Pradesh.</p>

<p>TDP leaders are set to meet <a href="http://www.wionews.com/india-news/alliance-with-bjp-on-says-tdp-on-reports-of-rift-with-bjp-over-raw-deal-in-union-budget-31770">Parliamentary affairs minister Ananth</a> Kumar to register their concern on the Budget.</p>

<p>There is widespread speculation that the NDA partner is disgruntled with BJP over the &quot;raw deal&quot; that the state has received in the Union Budget announced last week.</p>

<p>Reports said TDP leaders may also register their protest against the Budget on the floor of the House from today.</p>

<p>The Chandrababu Naidu-led Telugu Desam Party (TDP) had met in Amravati on Sunday to review the party&#39;s alliance with the BJP at the centre. The Budget was also discussed during the meeting.</p>

<p>TDP leader and Union minister Y Satyanarayana Chowdary had said after the Budget that &quot;people are dissatisfied&quot; because there is no specific mention of state issues in the Union Budget.</p>

<p>The party had convened a meeting of its MPs and senior leaders last week to discuss steps to ensure Budget sops before the bill is passed by Parliament. Chowdary had added that the TDP would raise the state&#39;s demands, if required, in Parliament.</p>

<p>The party is largely demanding the implementation of a special financial package for the state including setting up of railway zone, deficit finance and schemes related to the development of Amaravati as the state capital.</p>


TDP leader and Union minister Y Satyanarayana Chowdary had said after the Budget that "people are dissatisfied"

NDA's alliance partner the Telugu Desam Party(TDP) sent a notice to the Rajya Sabha today over Budget allocation to Andhra Pradesh. TDP leaders are set to meet Parliamentary affairs minister Ananth Kumar to register their concern on the Budget. There is widespread speculation that the NDA partner is disgruntled with BJP over the "raw deal" that the state has received in the Union Budget announced last week. Reports said TDP leaders may also register their protest against the Budget on the floor of the House from today. The Chandrababu Naidu-led Telugu Desam Party (TDP) had met in Amravati on Sunday to review the party's alliance with the BJP at the centre. The Budget was also discussed during the meeting. TDP leader and Union minister Y Satyanarayana Chowdary had said after the Budget that "people are dissatisfied" because there is no specific mention of state issues in the Union Budget. The party had convened a meeting of its MPs and senior leaders last week to discuss steps to ensure Budget sops before the bill is passed by Parliament. Chowdary had added that the TDP would raise the state's demands, if required, in Parliament. The party is largely demanding the implementation of a special financial package for the state including setting up of railway zone, deficit finance and schemes related to the development of Amaravati as the state capital.

Budget concern: TDP sends notice to Rajya Sabha, set to meet Parliamentary affairs minister Ananth Kumar

<p>Budget cuts are universal but the cut in the budget of United Nations has led to altering of tactical strategy by security forces deployed under the United Nations charter in Congo.</p>

<p>The Indian military is in charge of 15 odd&nbsp;bases in Congo&nbsp;down from 21 because of the budget cut made by the UN. For this reason, a battalion had to be sent back last year which reduced the number of Indian troops around&nbsp;3000&nbsp;to&nbsp;3700.&nbsp;Every penny is paid by the UN, while countries make contribution&nbsp;to the UN Peace Keeping Mission depending upon availability of the troops.</p>

<p>When WION spoke to officers in Goma, it discovered that the concept of Rapid Deployable Battalion and Protection by Projection concepts were born out of necessity and not changed circumstances. As bases get closed, it becomes imperative for the near-by existing bases to provide assistance to the civil society.</p>

<p>When WION contacted Brigadier Vivek Tyagi, Commander of Central Sector of Indian Forces in Congo, he said,&quot; With cuts, force optimisation was a necessity and it needs to be understood. The new concept of operation involving more lean and agile forces adopted by the UK became a functional imperative where challenges for military commander increases several fold.&quot;</p>

<p>This led to junking of the earlier concept of protection by presence. To achieve the aim of stabilisation, it became imperative for the security force to demonstrate its firepower and mobility to send the message that despite&nbsp;its absence it can act quickly to teach lesson to the law breakers. Indian Army covers an area which roughly equals the size of Chattisgarh and Madhya Pradesh in Congo. It statistically boils down to one person per 200 sq km.</p>

<p>This is happening at a time when elections are due in Congo by year end. Even Bangladesh, Ghana, Nepal, Egypt and Ukraine had to prune down their forces. Congo also reflects larger international reality of an insular America which&nbsp;feels burdened by world which it tries to lead in hesitatingly today. Sources say that more reduction is expected next year around as civilian administration also wants the presence of foreign forces to be reduced in Congo.<br />
&nbsp;</p>

<p>&nbsp;</p>


The Indian military is in charge of 15 odd bases in Congo which down from 21 because of the budget cut made by the UN

Budget cuts are universal but the cut in the budget of United Nations has led to altering of tactical strategy by security forces deployed under the United Nations charter in Congo. The Indian military is in charge of 15 odd bases in Congo down from 21 because of the budget cut made by the UN. For this reason, a battalion had to be sent back last year which reduced the number of Indian troops around 3000 to 3700. Every penny is paid by the UN, while countries make contribution to the UN Peace Keeping Mission depending upon availability of the troops. When WION spoke to officers in Goma, it discovered that the concept of Rapid Deployable Battalion and Protection by Projection concepts were born out of necessity and not changed circumstances. As bases get closed, it becomes imperative for the near-by existing bases to provide assistance to the civil society. When WION contacted Brigadier Vivek Tyagi, Commander of Central Sector of Indian Forces in Congo, he said," With cuts, force optimisation was a necessity and it needs to be understood. The new concept of operation involving more lean and agile forces adopted by the UK became a functional imperative where challenges for military commander increases several fold." This led to junking of the earlier concept of protection by presence. To achieve the aim of stabilisation, it became imperative for the security force to demonstrate its firepower and mobility to send the message that despite its absence it can act quickly to teach lesson to the law breakers. Indian Army covers an area which roughly equals the size of Chattisgarh and Madhya Pradesh in Congo. It statistically boils down to one person per 200 sq km. This is happening at a time when elections are due in Congo by year end. Even Bangladesh, Ghana, Nepal, Egypt and Ukraine had to prune down their forces. Congo also reflects larger international reality of an insular America which feels burdened by world which it tries to lead in hesitatingly today. Sources say that more reduction is expected next year around as civilian administration also wants the presence of foreign forces to be reduced in Congo.

WION in Congo: UN budget cuts lead to altering of strategy by Indian forces

<p>Finance Minister Arun Jaitley presented the<a href="http://www.wionews.com/business-economy/key-highlights-from-union-budget-2018-31455"> Union Budget 2018</a> on Thursday. The budget 2018-19 focussed primarily on the rural and agricultural economy and promised a brighter future for the healthcare sector.&nbsp;</p>

<p>Jaitley announced that the customs duty on <a href="http://www.wionews.com/business-economy/union-budget-2018-electronic-items-like-television-sets-mobile-phone-to-get-expensive-31469">mobile phones</a> will be increased to 20% from the previous 15% with a view to encourage &quot;Make in India&quot; and increase job vacancy.&nbsp;</p>

<p>Jaitley also said that customs duty for certain TV parts will also be increased to 15% which were previously in the 7.5%-10% tax slabs.&nbsp;</p>

<p>Commenting on the decision, Indian Cellular Association (ICA) National President Pankaj Mohindroo told PTI that this will be the &quot;last nail in the coffin&quot; of imports.&nbsp;</p>

<p>&quot;We are reaching a situation where imports would be nearly impossible,&quot; Mohindroo added. He said since bulk of mobile phones are manufactured domestically, there will be no impact on their prices. The exception will be a few brands, that are still making phones overseas.&quot;</p>

<p>&quot;There will be no increase in mobile phone prices since 81%&nbsp;of the volume and 84.5%&nbsp;of value is manufactured in India and we will cross 90% in both terms in 2018,&quot; he said.</p>

<p>Also read:&nbsp;<a href="http://www.wionews.com/business-economy/budget-2018-finance-minister-arun-jaitley-announces-no-change-in-personal-income-tax-slabs-31449">Budget 2018: Finance Minister Arun Jaitley announces &#39;no change&#39; in personal income tax slabs</a></p>

<p>Toys, sports goods, Video game consoles will also attract a customs duty of 20%, up from 10%.&nbsp;</p>

<p>Ishmeet Singh, Country Manager - India, Mattel Inc. said, &ldquo;As per the Budget 2018, there has been a substantial increase in customs duty to 20% for the category of Toys and Sports Goods. This combined with the other policy changes that have been implemented over the last 6 months, viz. higher rates of taxes under GST rates and stricter import regulations, will result in an overall increase in the price of toys by more than 20%. While the government of India has recognized the importance of promoting the critical role of play in the overall development of a child, these policy changes might prove to be detrimental to this vision.&rdquo;</p>

<p>Further, customs duty on crude edible vegetable oils like groundnut oil, safflower seed oil hiked from 12.5% to 30%; on refined edible vegetable oil from 20% to 35%.&nbsp;</p>

<p>Customs duty on imitation jewellery hiked from 15% to 20%; doubled on all watches to 20%.&nbsp;</p>

<p>There will also be an increase in customs duty on sunglasses, cigarette lighter, bus and truck tyres, select furniture. However, import of solar tempered glass for the manufacture of solar cells has been exempted from customs duty.&nbsp;</p>

<p>Also read:<a href="http://www.wionews.com/business-economy/as-expected-budget-2018-friendly-to-farmers-big-on-health-stocks-fall-31454">&nbsp;As expected, Budget 2018 friendly to farmers, big on health; stocks fall</a></p>

<p>Here&#39;s what Twitterati had to say:&nbsp;</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
<p dir="ltr" lang="en">*Custom Duty on Smartphones increases*<br />
<br />
Leaves all the work, start searching for the 3 best smartphones currently available and order.<br />
<br />
The worst announcement ever ???????????????? <a href="https://twitter.com/hashtag/Budget2018?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2018</a></p>
&mdash; arpita gupta (@sweet15arpita) <a href="https://twitter.com/sweet15arpita/status/958963417544577024?ref_src=twsrc%5Etfw">February 1, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
<p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/TVs?src=hash&amp;ref_src=twsrc%5Etfw">#TVs</a> and <a href="https://twitter.com/hashtag/smartphones?src=hash&amp;ref_src=twsrc%5Etfw">#smartphones</a> to get expensive. Customs duty to rise from 15 - 20 percent. That <a href="https://twitter.com/Apple?ref_src=twsrc%5Etfw">@Apple</a> <a href="https://twitter.com/hashtag/iPhoneXPlus?src=hash&amp;ref_src=twsrc%5Etfw">#iPhoneXPlus</a> will cost you another kidney this year end. <a href="https://twitter.com/hashtag/MakeInIndia?src=hash&amp;ref_src=twsrc%5Etfw">#MakeInIndia</a> <a href="https://twitter.com/hashtag/Budget2018?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2018</a></p>
&mdash; Tech2 (@tech2eets) <a href="https://twitter.com/tech2eets/status/958963992902488064?ref_src=twsrc%5Etfw">February 1, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-conversation="none" data-lang="en">
<p dir="ltr" lang="en">Prices of imported mobile phones to rise on custom duty hike to 20%; boost to Make in India.<br />
<br />
You can do that without bringing your bullshit political rhetoric named &quot;make in india&quot;.<a href="https://twitter.com/hashtag/Budget2018?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2018</a></p>
&mdash; H. (@Miister_H) <a href="https://twitter.com/Miister_H/status/959032444975423489?ref_src=twsrc%5Etfw">February 1, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

<p>&nbsp;</p>

<p><strong><a href="http://www.wionews.com/budget2018">Full Coverage of Budget 2018</a></strong></p>


Finance Minister Arun Jaitley presented the Union Budget 2018 on Thursday. The budget 2018-19 focussed primarily on the rural and agricultural economy and promised a brighter future for the healthcare sector.

Finance Minister Arun Jaitley presented the Union Budget 2018 on Thursday. The budget 2018-19 focussed primarily on the rural and agricultural economy and promised a brighter future for the healthcare sector. Jaitley announced that the customs duty on mobile phones will be increased to 20% from the previous 15% with a view to encourage "Make in India" and increase job vacancy. Jaitley also said that customs duty for certain TV parts will also be increased to 15% which were previously in the 7.5%-10% tax slabs. Commenting on the decision, Indian Cellular Association (ICA) National President Pankaj Mohindroo told PTI that this will be the "last nail in the coffin" of imports. "We are reaching a situation where imports would be nearly impossible," Mohindroo added. He said since bulk of mobile phones are manufactured domestically, there will be no impact on their prices. The exception will be a few brands, that are still making phones overseas." "There will be no increase in mobile phone prices since 81% of the volume and 84.5% of value is manufactured in India and we will cross 90% in both terms in 2018," he said. Also read: Budget 2018: Finance Minister Arun Jaitley announces 'no change' in personal income tax slabs Toys, sports goods, Video game consoles will also attract a customs duty of 20%, up from 10%. Ishmeet Singh, Country Manager - India, Mattel Inc. said, “As per the Budget 2018, there has been a substantial increase in customs duty to 20% for the category of Toys and Sports Goods. This combined with the other policy changes that have been implemented over the last 6 months, viz. higher rates of taxes under GST rates and stricter import regulations, will result in an overall increase in the price of toys by more than 20%. While the government of India has recognized the importance of promoting the critical role of play in the overall development of a child, these policy changes might prove to be detrimental to this vision.” Further, customs duty on crude edible vegetable oils like groundnut oil, safflower seed oil hiked from 12.5% to 30%; on refined edible vegetable oil from 20% to 35%. Customs duty on imitation jewellery hiked from 15% to 20%; doubled on all watches to 20%. There will also be an increase in customs duty on sunglasses, cigarette lighter, bus and truck tyres, select furniture. However, import of solar tempered glass for the manufacture of solar cells has been exempted from customs duty. Also read: As expected, Budget 2018 friendly to farmers, big on health; stocks fall Here's what Twitterati had to say: *Custom Duty on Smartphones increases* Leaves all the work, start searching for the 3 best smartphones currently available and order. The worst announcement ever ???????????????? #Budget2018 — arpita gupta (@sweet15arpita) February 1, 2018 × #TVs and #smartphones to get expensive. Customs duty to rise from 15 - 20 percent. That @Apple #iPhoneXPlus will cost you another kidney this year end. #MakeInIndia #Budget2018 — Tech2 (@tech2eets) February 1, 2018 × Prices of imported mobile phones to rise on custom duty hike to 20%; boost to Make in India. You can do that without bringing your bullshit political rhetoric named "make in india".#Budget2018 — H. (@Miister_H) February 1, 2018 × Full Coverage of Budget 2018

Budget 2018: Increase in customs duty 'last nail in the coffin', says ICA president Mohindroo

<p>A day after the Budget, the <a href="http://www.wionews.com/india-news/sensex-nosedives-over-600-points-post-jaitleys-10-tax-on-sale-of-shares-31579">BSE Sensex dived 839 points </a>today barely holding on to the 35K mark. The Nifty too nosedived plunging over 250 points.</p>

<p>Sensex crashed 839.91 points to end at 35,066.75 and the Nifty&nbsp;sank 256.30 points to 10,760.60 today.</p>

<p>This is the fifth steepest fall in ten years. The Bank Nifty was down around 3 per cent with the Nifty Midcap and BSE small cap also at a low, down 4-5 per cent.</p>

<p>The markets had given&nbsp;a <a href="http://www.wionews.com/business-economy/no-budget-cheer-markets-close-down-in-2017-markets-ended-over-400-points-up-31480">lukewarm response to the government&#39;s </a>Budget on Thursday with the Sensex closing 58 points down at 35,906.66 while the Nifty slipped 10.80 points to end at 11,016.90 on Budget day.</p>

<p>Sunil Shah, Stock market expert told Reuters: &quot;As far as capital markets are concerned, the budget turned out to be a non event. So there was nothing much in the budget.&quot;&nbsp;</p>

<p>The 30-share index had plunged over 460 points on Budget day in afternoon trade after finance minister Arun Jaitley had announced long-term capital gains tax of 10 per cent on stock market gains exceeding Rs 1 lakh.</p>

<p>Today&#39;s poor run was fuelled by investors worried over government&#39;s move to raise the minimum support price(MSP) for crops this year which could lead to higher retail price with inflation hitting a 17-month high.</p>


Today's poor run was fuelled by investors worried over government's move to raise the minimum support price for crops

A day after the Budget, the BSE Sensex dived 839 points today barely holding on to the 35K mark. The Nifty too nosedived plunging over 250 points. Sensex crashed 839.91 points to end at 35,066.75 and the Nifty sank 256.30 points to 10,760.60 today. This is the fifth steepest fall in ten years. The Bank Nifty was down around 3 per cent with the Nifty Midcap and BSE small cap also at a low, down 4-5 per cent. The markets had given a lukewarm response to the government's Budget on Thursday with the Sensex closing 58 points down at 35,906.66 while the Nifty slipped 10.80 points to end at 11,016.90 on Budget day. Sunil Shah, Stock market expert told Reuters: "As far as capital markets are concerned, the budget turned out to be a non event. So there was nothing much in the budget." The 30-share index had plunged over 460 points on Budget day in afternoon trade after finance minister Arun Jaitley had announced long-term capital gains tax of 10 per cent on stock market gains exceeding Rs 1 lakh. Today's poor run was fuelled by investors worried over government's move to raise the minimum support price(MSP) for crops this year which could lead to higher retail price with inflation hitting a 17-month high.

Sensex ends 800 points down day after Budget, LTCG tax hurts market sentiments

<p>The post-Budget sell-off dragged the Sensex down by a whopping 800 points while the broader Nifty cracked the 10,800-mark on all-round selling</p>

<p>The weak sentiment came a day after the government unveiled its budget for the year starting in April that raised spending for rural sectors and healthcare, widening the fiscal deficit target to 3.3 percent of gross domestic product from the previous 3.0 percent.</p>

<p>In the Budget speech, Finance Minister Arun Jaitley proposed to tax long-term capital gains on equities exceeding Rs 1 lakh at 10 per cent.</p>

<p>The investors also worried that the government&#39;s move to raise minimum support prices (MSP) for crops could lead to higher retail prices.</p>

<p>The decision was proposed at a time when consumer price inflation has already hit a 17-month high of 5.21 percent, well above the Reserve Bank of India&#39;s target of 4 per cent.&nbsp;</p>

<p>&quot;Long-term capital gains tax on equities is not welcomed by the markets and fiscal slippage is another reason that`s driving the markets down,&quot; said Neeraj Dewan, director, Quantum Securities.</p>

<p>On Thursday, the benchmark indices had closed trade on a lower note.</p>


The Nifty 50 too slipped 210 points to touch a low of 10,806.50 points.

The post-Budget sell-off dragged the Sensex down by a whopping 800 points while the broader Nifty cracked the 10,800-mark on all-round selling The weak sentiment came a day after the government unveiled its budget for the year starting in April that raised spending for rural sectors and healthcare, widening the fiscal deficit target to 3.3 percent of gross domestic product from the previous 3.0 percent. In the Budget speech, Finance Minister Arun Jaitley proposed to tax long-term capital gains on equities exceeding Rs 1 lakh at 10 per cent. The investors also worried that the government's move to raise minimum support prices (MSP) for crops could lead to higher retail prices. The decision was proposed at a time when consumer price inflation has already hit a 17-month high of 5.21 percent, well above the Reserve Bank of India's target of 4 per cent. "Long-term capital gains tax on equities is not welcomed by the markets and fiscal slippage is another reason that`s driving the markets down," said Neeraj Dewan, director, Quantum Securities. On Thursday, the benchmark indices had closed trade on a lower note.

Sensex nosedives 800 points post Jaitley's 10% tax on sale of shares

<p>Telugu Desam Party (TDP) of Chandrababu Naidu, the BJP&#39;s biggest ally down South, is miffed with the Budget and has called an &quot;emergency meeting&quot; with party leaders on Sunday.</p>

<p>&quot;We are going to declare war. We have three options - one is to try and continue, two is our MPs resign and the third is to end the alliance. We will decide in the meeting with the chief minister on Sunday,&quot; said TDP parliamentarian TG Venkatesh in Delhi.</p>

<p>&#39;&#39;We are disappointed with the Union Budget presented today. Many pressing state issues like Railway Zone, Polavaram project funding, Funding for capital Amaravati and other pending issues of Andhra Pradesh are not addressed in the budget,&#39;&#39; news agency ANI quoted YS Chowdary, MoS Science &amp; Technology, TDP as saying. &nbsp;</p>

<p>Since Naidu took charge as chief minister four years ago, the ties between the BJP and TDP have ruptured.&nbsp;</p>

<p>&nbsp;</p>


"The people and the party are disappointed with the Union Budget. Many state issues like the Polavaram project funding and funds for capital Amaravati were not addressed in the budget," said Chowdhary

Telugu Desam Party (TDP) of Chandrababu Naidu, the BJP's biggest ally down South, is miffed with the Budget and has called an "emergency meeting" with party leaders on Sunday. "We are going to declare war. We have three options - one is to try and continue, two is our MPs resign and the third is to end the alliance. We will decide in the meeting with the chief minister on Sunday," said TDP parliamentarian TG Venkatesh in Delhi. ''We are disappointed with the Union Budget presented today. Many pressing state issues like Railway Zone, Polavaram project funding, Funding for capital Amaravati and other pending issues of Andhra Pradesh are not addressed in the budget,'' news agency ANI quoted YS Chowdary, MoS Science & Technology, TDP as saying. Since Naidu took charge as chief minister four years ago, the ties between the BJP and TDP have ruptured.

Miffed with 'raw deal' in Budget, TDP declares 'war' on ally BJP

<p>Finance Minister Arun Jaitley met with industry heavyweights Friday morning <a href="http://www.wionews.com/business-economy/as-expected-budget-2018-friendly-to-farmers-big-on-health-stocks-fall-31454" target="_blank">a day after releasing his Budget</a>.&nbsp;</p>

<p>There are sections of the economy which need government aid, Jaitley told the CEOs, taking off from where he had left off in his Budget. Jaitley&#39;s last full year Budget before the general elections in 2019 has been called pro-poor, populist, and aimed at the elections next year.&nbsp;</p>

<p>The stress in the farm sector is real, Jaitley said Friday. (Critics of his government have been saying the same thing for some time now.)</p>

<p>On Thursday, Jaitley had announced in his Budget that farmers would be paid 1.5 times the cost of production of their kharif crops.&nbsp;</p>

<p>The MSP has to be reasonable, Jaitley said Friday. And that the agriculture ministry, state governments, and NITI Aayog would work out the details.&nbsp;</p>

<p>Jaitley added Friday that the government was concentrating on targeting the welfare of individual rural homes, providing interest subventions, and aid for irrigation to rural areas.&nbsp;</p>

<p>Jaitley&#39;s biggest announcement on Thursday however had been the creation of the world&#39;s largest health insurance programme. The programme, Jaitley said, would cover 500 million people -- close to half of the country&#39;s population -- with 50 million families insured for up to Rs 5 lakh a year.&nbsp;</p>

<p>The &quot;health scheme is a major target for the government&quot;, Jaitley said Friday.&nbsp;</p>

<p>Jaitley said the health insurance programme too was first envisaged by the NITI Aayog. He added that the programme could be built on a trust or insurance model, and that the scheme would kick off on April 1, 2018.&nbsp;</p>

<p>Jaitley said Friday the MSP and healthcareprogrammes were &quot;ambitious&quot;&nbsp;and that the real success would lie in implementing it.</p>

<p>&ldquo;We were concerned this year on account of various global and domestic factors that this had to be a &lsquo;spend-more&rsquo; and not a &lsquo;save-more&rsquo; budget,&quot; Jaitley added.&nbsp;</p>

<p>Jaitley&#39;s Buget had offered a number of other sops to the poor, especially the rural poor -- including the distribution of eight million free gas connections, and four million free electricity connections.&nbsp;</p>

<p>The sops however mean the governnment will breach its fiscal deficit target. Jaitley said Thursday that the target this year was&nbsp;3.3%, up from the earlier 3%.&nbsp;</p>

<p>The stock markets did not respond well to the announcement. They dove further after Jaitley announced long-term capital gains on the sale of shares above Rs 1 lakh would be taxed at 10%. Jaitley said Friday that that had been a &quot;tough call&quot;.&nbsp;</p>

<p>Also read: <a href="http://www.wionews.com/india-news/day-after-union-budget-sensex-drops-324-points-nifty-below-11000-on-ltcg-jitters-31550" target="_blank">Sensex drops 324 points, Nifty below 11,000 on LTCG jitters</a></p>

<p>He added Friday that the &quot;manufacturing sector has picked up in the last few months&quot;. But that India has a serious challenge ahead of it when it comes to tax compliance and increasing the tax base. He added that tax rates in India are low. That no other country has a five per cent tax slab and that you cannot get slabs any lower than the ones we already have.&nbsp;</p>


The finance minister met Friday with industry heavyweights

Finance Minister Arun Jaitley met with industry heavyweights Friday morning a day after releasing his Budget. There are sections of the economy which need government aid, Jaitley told the CEOs, taking off from where he had left off in his Budget. Jaitley's last full year Budget before the general elections in 2019 has been called pro-poor, populist, and aimed at the elections next year. The stress in the farm sector is real, Jaitley said Friday. (Critics of his government have been saying the same thing for some time now.) On Thursday, Jaitley had announced in his Budget that farmers would be paid 1.5 times the cost of production of their kharif crops. The MSP has to be reasonable, Jaitley said Friday. And that the agriculture ministry, state governments, and NITI Aayog would work out the details. Jaitley added Friday that the government was concentrating on targeting the welfare of individual rural homes, providing interest subventions, and aid for irrigation to rural areas. Jaitley's biggest announcement on Thursday however had been the creation of the world's largest health insurance programme. The programme, Jaitley said, would cover 500 million people -- close to half of the country's population -- with 50 million families insured for up to Rs 5 lakh a year. The "health scheme is a major target for the government", Jaitley said Friday. Jaitley said the health insurance programme too was first envisaged by the NITI Aayog. He added that the programme could be built on a trust or insurance model, and that the scheme would kick off on April 1, 2018. Jaitley said Friday the MSP and healthcareprogrammes were "ambitious" and that the real success would lie in implementing it. “We were concerned this year on account of various global and domestic factors that this had to be a ‘spend-more’ and not a ‘save-more’ budget," Jaitley added. Jaitley's Buget had offered a number of other sops to the poor, especially the rural poor -- including the distribution of eight million free gas connections, and four million free electricity connections. The sops however mean the governnment will breach its fiscal deficit target. Jaitley said Thursday that the target this year was 3.3%, up from the earlier 3%. The stock markets did not respond well to the announcement. They dove further after Jaitley announced long-term capital gains on the sale of shares above Rs 1 lakh would be taxed at 10%. Jaitley said Friday that that had been a "tough call". Also read: Sensex drops 324 points, Nifty below 11,000 on LTCG jitters He added Friday that the "manufacturing sector has picked up in the last few months". But that India has a serious challenge ahead of it when it comes to tax compliance and increasing the tax base. He added that tax rates in India are low. That no other country has a five per cent tax slab and that you cannot get slabs any lower than the ones we already have.

Stress in farm sector is real, Jaitley says day after Budget

<p>The equity indices on Thursday opened higher ahead of the Union Budget 2018-19 presentation by Finance Minister Arun Jaitley in the Parliament.</p>

<p>The BSE index opened with a gain of 84 points on 36,048.99 while the broader 50-share NSE Nifty started trading on 11,044.55, with a modest 17 points jump. Both the indices extended gains and were up by 0.40 per cent in initial trading.</p>

<p>The 30-scrip Sensitive Index (Sensex), was trading 157.21 points or 0.44 per cent higher soon after opening.</p>

<p>The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 46.25 points or 0.42 per cent higher at 11,073.95 points.</p>

<p><em>(With inputs from Agencies)</em></p>


In early trade, led by bank stocks, the benchmark indices regained steam. The metal and pharma sector sub-indices were dragging

The equity indices on Thursday opened higher ahead of the Union Budget 2018-19 presentation by Finance Minister Arun Jaitley in the Parliament. The BSE index opened with a gain of 84 points on 36,048.99 while the broader 50-share NSE Nifty started trading on 11,044.55, with a modest 17 points jump. Both the indices extended gains and were up by 0.40 per cent in initial trading. The 30-scrip Sensitive Index (Sensex), was trading 157.21 points or 0.44 per cent higher soon after opening. The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 46.25 points or 0.42 per cent higher at 11,073.95 points. (With inputs from Agencies)

Sensex rises 150 points ahead of Budget 2018, Nifty above 11,050

<p>India&#39;s government will unveil its budget for the 2018-19 fiscal year on Thursday, with investors expecting increased investment in key areas such as agriculture, and a slew of incentives for businesses.</p>

<p>After the roll out of the Goods and Services Tax (GST) last year, India&#39;s economy is expected to post growth of 6.75 per cent in the 2017-18 fiscal year ending in March, which would be the slowest in three years.</p>

<p>The government is widely expected to increase spending to ensure growth recaptures momentum, but most investors expect it to be prudent as loosening fiscal deficit targets by too much would likely spark a sell-off in the bond market.</p>

<p>However, speculation is rife in different sectors for tax sops. Everyone is putting forward its wishlist for Finance Minister Arun Jaitley as he geats ready to present Modi government&#39;s last full Budget.</p>

<p>Leading health insurance company Aviva wants the government to increase the income tax slabs exemption &quot;leaving more money in people&#39;s hands&quot;.</p>

<p>&quot;The insurance industry has always played a significant role in the economic development of nations and society. Predominantly, what we should look forward following the upcoming budget would be increase in the number of people having adequate insurance cover. To attain the same, there should be an increase in the income tax slabs exemption leaving more money in people&#39;s hands to channelise the funds well,&quot; said Karni S Arha, Chief Financial Officer, Aviva India.</p>

<p>We should expect to promote a separate dedicated insurance premium exemption limit as the current composite limit u/s 80c (Rs 1.5lac) is already overcrowded and exhausted, he added.</p>

<p>As per the IRDA, the insurance penetration (percentage of insurance premium to the GDP) in India is currently at 3.42 per cent, significantly lower than the global average of 6.2 per cent. The industry believes this is one of the aspects which needs to be looked into on priority.</p>

<p>The growing recognition of India&#39;s healthcare crisis has led to urgency for increased public funding of healthcare, which, the industry believes, can be taken up in the Union Budget.</p>


After the roll out of the Goods and Services Tax (GST) last year, India's economy is expected to post growth of 6.75 per cent in the 2017-18 fiscal year ending in March, which would be the slowest in three years.

India's government will unveil its budget for the 2018-19 fiscal year on Thursday, with investors expecting increased investment in key areas such as agriculture, and a slew of incentives for businesses. After the roll out of the Goods and Services Tax (GST) last year, India's economy is expected to post growth of 6.75 per cent in the 2017-18 fiscal year ending in March, which would be the slowest in three years. The government is widely expected to increase spending to ensure growth recaptures momentum, but most investors expect it to be prudent as loosening fiscal deficit targets by too much would likely spark a sell-off in the bond market. However, speculation is rife in different sectors for tax sops. Everyone is putting forward its wishlist for Finance Minister Arun Jaitley as he geats ready to present Modi government's last full Budget. Leading health insurance company Aviva wants the government to increase the income tax slabs exemption "leaving more money in people's hands". "The insurance industry has always played a significant role in the economic development of nations and society. Predominantly, what we should look forward following the upcoming budget would be increase in the number of people having adequate insurance cover. To attain the same, there should be an increase in the income tax slabs exemption leaving more money in people's hands to channelise the funds well," said Karni S Arha, Chief Financial Officer, Aviva India. We should expect to promote a separate dedicated insurance premium exemption limit as the current composite limit u/s 80c (Rs 1.5lac) is already overcrowded and exhausted, he added. As per the IRDA, the insurance penetration (percentage of insurance premium to the GDP) in India is currently at 3.42 per cent, significantly lower than the global average of 6.2 per cent. The industry believes this is one of the aspects which needs to be looked into on priority. The growing recognition of India's healthcare crisis has led to urgency for increased public funding of healthcare, which, the industry believes, can be taken up in the Union Budget.

Budget 2018: What the insurance sector wants

<p>Climate change could adversely affect farmers income by up to 20-25 per cent in the medium term, the Economic Survey warned and suggested the need for &quot;dramatic&quot; improvement in irrigation, use of new technologies and better targeting of power and fertiliser subsidies.</p>

<p>The government has also been recommended to take &quot;radical follow-up action&quot; to achieve its objective of addressing agricultural stress and doubling farmers&nbsp;income.</p>

<p>Since agriculture is a state subject and an open political economy question, the Survey strongly advocated a mechanism similar to the GST Council to bring more reforms in the agriculture sector and boost farmers income.</p>

<p>&quot;Climate change&nbsp;whose imprint on Indian agriculture is already visible&nbsp;might reduce farm incomes by up to 20-25 per cent in the medium term,&quot; the Survey for 2017-18 said.</p>

<p>Climate change could reduce annual farm incomes in the range of 15-18 per cent on average, and up to 20-25 per cent for unirrigated areas, it said.</p>

<p>At current levels of farm income, that translates into more than Rs 3,600 per year for the median farm household, the survey estimated.</p>

<p>&quot;Minimising susceptibility to climate change requires drastically extending irrigation via efficient drip and sprinkler technologies, and replacing untargeted subsidies in power and fertiliser by direct income support,&quot; the Survey said, while calling for review of cereal-centric farm policy.</p>

<p>India needs to spread irrigation and do so against a backdrop of rising water scarcity and depleting groundwater resources, it said.</p>

<p>At present, about 45 per cent of farm land is under irrigation. The Indo-Gangetic plain, and parts of Gujarat and Madhya Pradesh are well irrigated.</p>

<p>But parts of Karnataka, Maharashtra, Madhya Pradesh, Rajasthan, Chattisgarh and Jharkhand are still extremely vulnerable to climate change on account of not being well irrigated.</p>

<p>The Survey further said that fully irrigating Indian agriculture, that too against the backdrop of water scarcity and limited efficiency in existing irrigation schemes, will be a defining challenge for the future.</p>

<p>Technologies of drip irrigation, sprinklers, and water management captured in the more crop for every drop campaign?may well hold the key to future Indian agriculture and hence should be accorded greater priority in resource allocation, it said.</p>

<p>And, of course, the power subsidy needs to be replaced by direct benefit transfers so that power use can be fully cost and water conservation furthered, it added.</p>

<p>Stating that the climate change will increase farmer uncertainty, the Survey called for an effective crop insurance and embrace farm science and technology with renewed ardour.</p>

<p>&quot;Building on the current crop insurance program Pradhan Mantri Fasal Bima Yojana, weather-based models and technologies like drones need to be used to determine losses and compensate farmers within weeks,&quot; it said.</p>

<p>Stating that the agri-sector is experiencing structural changes leading to new challenges and opportunities, the Survey said that the farm sector will remain an engine of broad based growth even as its share in gross value addition (GVA) is on the decline.</p>

<p>The central priority of the government will be to provide opportunities for farmers to diversify their income generating opportunities to reduce the various risks by facilitating the development of agriculture sub-sectors like livestock and fisheries, it observed.</p>


The government has also been recommended to take 'radical follow-up action' to achieve its objective of addressing agricultural stress and doubling farmers income

Climate change could adversely affect farmers income by up to 20-25 per cent in the medium term, the Economic Survey warned and suggested the need for "dramatic" improvement in irrigation, use of new technologies and better targeting of power and fertiliser subsidies. The government has also been recommended to take "radical follow-up action" to achieve its objective of addressing agricultural stress and doubling farmers income. Since agriculture is a state subject and an open political economy question, the Survey strongly advocated a mechanism similar to the GST Council to bring more reforms in the agriculture sector and boost farmers income. "Climate change whose imprint on Indian agriculture is already visible might reduce farm incomes by up to 20-25 per cent in the medium term," the Survey for 2017-18 said. Climate change could reduce annual farm incomes in the range of 15-18 per cent on average, and up to 20-25 per cent for unirrigated areas, it said. At current levels of farm income, that translates into more than Rs 3,600 per year for the median farm household, the survey estimated. "Minimising susceptibility to climate change requires drastically extending irrigation via efficient drip and sprinkler technologies, and replacing untargeted subsidies in power and fertiliser by direct income support," the Survey said, while calling for review of cereal-centric farm policy. India needs to spread irrigation and do so against a backdrop of rising water scarcity and depleting groundwater resources, it said. At present, about 45 per cent of farm land is under irrigation. The Indo-Gangetic plain, and parts of Gujarat and Madhya Pradesh are well irrigated. But parts of Karnataka, Maharashtra, Madhya Pradesh, Rajasthan, Chattisgarh and Jharkhand are still extremely vulnerable to climate change on account of not being well irrigated. The Survey further said that fully irrigating Indian agriculture, that too against the backdrop of water scarcity and limited efficiency in existing irrigation schemes, will be a defining challenge for the future. Technologies of drip irrigation, sprinklers, and water management captured in the more crop for every drop campaign?may well hold the key to future Indian agriculture and hence should be accorded greater priority in resource allocation, it said. And, of course, the power subsidy needs to be replaced by direct benefit transfers so that power use can be fully cost and water conservation furthered, it added. Stating that the climate change will increase farmer uncertainty, the Survey called for an effective crop insurance and embrace farm science and technology with renewed ardour. "Building on the current crop insurance program Pradhan Mantri Fasal Bima Yojana, weather-based models and technologies like drones need to be used to determine losses and compensate farmers within weeks," it said. Stating that the agri-sector is experiencing structural changes leading to new challenges and opportunities, the Survey said that the farm sector will remain an engine of broad based growth even as its share in gross value addition (GVA) is on the decline. The central priority of the government will be to provide opportunities for farmers to diversify their income generating opportunities to reduce the various risks by facilitating the development of agriculture sub-sectors like livestock and fisheries, it observed.

Climate change may cut farm income by 20-25%: Survey

<p>President Ram Nath Kovind on Monday said that a sustained debate is required on the subject of simultaneous elections in his inaugural speech at the Budget Session of Parliament which began today.</p>

<p>&quot;A sustained debate is required on the subject of simultaneous elections and all political parties need to arrive at a consensus on this issue,&quot; President Kovind said in his opening address to the joint session of Parliament on Monday.</p>

<p>Earlier this month, in an interview to WION, Prime Minister Narendra Modi had said that Vidhan Sabha and Lok Sabha elections should be held together and that he has discussed this idea with various policymakers. &quot;If the elections happen together, then the country can save a lot,&quot; <a href="http://www.wionews.com/india-news/upa-government-was-unable-to-solve-gst-issues-pm-modi-to-wion-30214" target="_blank">PM Modi had said in the interview</a>.</p>

<p>Today, while addressing the joint session of Parliament, President Kovind reiterated his government&#39;s commitment in passing the triple talaq bill.</p>

<p>&quot;My government has presented a bill to end the practice of triple talaq. I hope the Triple Talaq Bill will be passed soon so that Muslim women can live a life of dignity and without fear,&quot; President Kovind said.</p>

<p>Committed to &#39;empowerment and not appeasement&#39;, my government is making intensive efforts for the economic, social and educational empowerment of the minorities, <a href="http://www.wionews.com/india-news/budget-session-live-31051" target="_blank">President Kovind said in his maiden address to Parliament</a>.&nbsp;</p>

<p>While the Muslim Women (Protection of Rights on Marriage) Bill, 2017, sailed through the Lok Sabha, the Triple Talaq Bill is pending in the Rajya Sabha as several opposition parties demanded that it be referred to a select committee.</p>

<p>Highlighting the achievements of Modi government, President Kovind said, &quot;My government has introduced insurance schemes for poor at a premium of Rs 1 per month and 90 paise per day. Over 18 crore poor have been covered under the &#39;PM Suraksha Bima Yojana&#39; and &#39;PM Jeevan Jyoti Bima Yojana&#39; and about Rs 2 thousand crore has been paid out as claims.&quot;</p>

<p>The government is committed to double the income of farmers by the year 2022, he said.</p>

<p>Prime Minister Narendra Modi also spoke before the commencement of Parliament&rsquo;s Budget Session, where he appealed to the opposition to pass the Triple Talaq Bill,&nbsp; saying it would be a <a href="http://www.wionews.com/india-news/budget-session-2018-we-have-to-pass-triple-talaq-bill-and-protet-muslim-women-says-pm-modi-31049" target="_blank">New Year gift for Muslim women</a>.</p>

<p>Speaking to reporters outside Parliament House, Modi said despite his government&#39;s efforts and people&#39;s expectations the triple talaq bill could not be passed in the last session.</p>

<p>The Budget Session of Parliament began on Monday. The first leg of the session will be between January 29 and February 9 during which the government will present the economic survey on January 29, followed by the Union Budget on February 1.</p>

<p>Following a recess after February 9, Parliament will meet again from March 5 to April 6.</p>


PM Modi had first mooted the idea of simultaneous elections to the states and Parliament. He has repeatedly asked all parties to rise above politics and consider it

President Ram Nath Kovind on Monday said that a sustained debate is required on the subject of simultaneous elections in his inaugural speech at the Budget Session of Parliament which began today. "A sustained debate is required on the subject of simultaneous elections and all political parties need to arrive at a consensus on this issue," President Kovind said in his opening address to the joint session of Parliament on Monday. Earlier this month, in an interview to WION, Prime Minister Narendra Modi had said that Vidhan Sabha and Lok Sabha elections should be held together and that he has discussed this idea with various policymakers. "If the elections happen together, then the country can save a lot," PM Modi had said in the interview. Today, while addressing the joint session of Parliament, President Kovind reiterated his government's commitment in passing the triple talaq bill. "My government has presented a bill to end the practice of triple talaq. I hope the Triple Talaq Bill will be passed soon so that Muslim women can live a life of dignity and without fear," President Kovind said. Committed to 'empowerment and not appeasement', my government is making intensive efforts for the economic, social and educational empowerment of the minorities, President Kovind said in his maiden address to Parliament. While the Muslim Women (Protection of Rights on Marriage) Bill, 2017, sailed through the Lok Sabha, the Triple Talaq Bill is pending in the Rajya Sabha as several opposition parties demanded that it be referred to a select committee. Highlighting the achievements of Modi government, President Kovind said, "My government has introduced insurance schemes for poor at a premium of Rs 1 per month and 90 paise per day. Over 18 crore poor have been covered under the 'PM Suraksha Bima Yojana' and 'PM Jeevan Jyoti Bima Yojana' and about Rs 2 thousand crore has been paid out as claims." The government is committed to double the income of farmers by the year 2022, he said. Prime Minister Narendra Modi also spoke before the commencement of Parliament’s Budget Session, where he appealed to the opposition to pass the Triple Talaq Bill, saying it would be a New Year gift for Muslim women. Speaking to reporters outside Parliament House, Modi said despite his government's efforts and people's expectations the triple talaq bill could not be passed in the last session. The Budget Session of Parliament began on Monday. The first leg of the session will be between January 29 and February 9 during which the government will present the economic survey on January 29, followed by the Union Budget on February 1. Following a recess after February 9, Parliament will meet again from March 5 to April 6.

Budget session 2018: President Ram Nath Kovind pushes for discussion on simultaneous polls

<p>The Budget session of Parliament begins on Monday as the National Democratic Alliance (NDA) readies to present its last full budget on 1 February before its five-year term ends.</p>

<p>President Ram Nath Kovind&#39;s address to a joint sitting of the Lok Sabha and Rajya Sabha&nbsp;marked the beginning of the Budget Session 2018. The Economic Survey of India will be tabled later in the day.</p>

<p>The upcoming budget is significant because the ruling NDA will go into the poll mode in 14 months as general elections are scheduled for early next year.&nbsp;</p>

<p>Also, the parliamentary party executive of Bharatiya Janata Party (BJP) will hold a meeting on Monday, followed by another meeting of NDA allies to discuss the strategy for the session.</p>

<p><strong>Here are the highlights President Kovind&#39;s speech:</strong></p>

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<h5>It&rsquo;s a matter of pride for us that Unesco recognised Kumbh Mela as intangible cultural heritage of humanity: President Kovind</h5>
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<p dir="ltr" lang="en">The government is committed to double the income of farmers by the year 2022: President Ram Nath Kovind <a href="https://twitter.com/hashtag/BudgetSession?src=hash&amp;ref_src=twsrc%5Etfw">#BudgetSession</a> <a href="https://t.co/1Ydo4cw5Ph">pic.twitter.com/1Ydo4cw5Ph</a></p>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/957851770612457472?ref_src=twsrc%5Etfw">January 29, 2018</a></blockquote>
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<h5>Work has started to increase broadband connectivity in villages. 2.5 lakh Panchayats have already been connected: President Kovind</h5>
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<h5>President Kovind says that to provide food to everyone, the government under National Food Security Act is providing supplies at minimal rates to the poor.</h5>
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<h5>2.70 Lakh Common Service Centers have been set up across the nation. These Centers provide digital service at low rates for various services even in the far off remote areas: President Ram Nath Kovind</h5>
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<h5>The highest priority of my Govt is to remove various difficulties faced by farmers &amp; to raise their standard of living. The schemes of my Govt are not only removing their hardships but also reducing the expenditure incurred by them on farming, says the President.</h5>
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<h5>Parliament approved a bill granting working woman paid maternity leave of 26 weeks.The government is committed to double the income of farmers by the year 2022: President Ram Nath Kovind</h5>
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<h5>We will realise the dream of &#39;New India&#39; in 2018, says the President during his address in the Parliament.</h5>
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<h5>It is our duty that when we celebrate Mahatma Gandhi&#39;s 150th birth anniversary in 2019 we pay tribute to him by making our country completely clean: President Ram Nath Kovind</h5>
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<h5>Baba Saheb Ambedkar used to say that without economic and social democracy, political democracy is unstable: President Kovind</h5>
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<p><a href="http://www.wionews.com/india-news/budget-session-2018-we-have-to-pass-triple-talaq-bill-and-protet-muslim-women-says-pm-modi-31049" target="_blank">READ:&nbsp;We have to pass Triple Talaq bill and protect Muslim women, says PM Modi</a><br />
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The upcoming budget is significant because the ruling NDA will go into poll mode in 14 months as general elections are scheduled for early next year.

The Budget session of Parliament begins on Monday as the National Democratic Alliance (NDA) readies to present its last full budget on 1 February before its five-year term ends. President Ram Nath Kovind's address to a joint sitting of the Lok Sabha and Rajya Sabha marked the beginning of the Budget Session 2018. The Economic Survey of India will be tabled later in the day. The upcoming budget is significant because the ruling NDA will go into the poll mode in 14 months as general elections are scheduled for early next year. Also, the parliamentary party executive of Bharatiya Janata Party (BJP) will hold a meeting on Monday, followed by another meeting of NDA allies to discuss the strategy for the session. Here are the highlights President Kovind's speech: A sustained debate is required on the subject of simultaneous elections and all political parties need to arrive at a consensus on this issue: President Kovind × It’s a matter of pride for us that Unesco recognised Kumbh Mela as intangible cultural heritage of humanity: President Kovind × The government is committed to double the income of farmers by the year 2022: President Ram Nath Kovind #BudgetSession pic.twitter.com/1Ydo4cw5Ph — ANI (@ANI) January 29, 2018 × Work has started to increase broadband connectivity in villages. 2.5 lakh Panchayats have already been connected: President Kovind × President Kovind says that to provide food to everyone, the government under National Food Security Act is providing supplies at minimal rates to the poor. × 2.70 Lakh Common Service Centers have been set up across the nation. These Centers provide digital service at low rates for various services even in the far off remote areas: President Ram Nath Kovind × The highest priority of my Govt is to remove various difficulties faced by farmers & to raise their standard of living. The schemes of my Govt are not only removing their hardships but also reducing the expenditure incurred by them on farming, says the President. × Parliament approved a bill granting working woman paid maternity leave of 26 weeks.The government is committed to double the income of farmers by the year 2022: President Ram Nath Kovind × We will realise the dream of 'New India' in 2018, says the President during his address in the Parliament. × My government has presented a bill in relation to Triple Talaq. I hope Parliament will soon make it legal, so that Muslim sisters and daughters will be able to live a fearless life with self respect: President Ram Nath Kovind × It is our duty that when we celebrate Mahatma Gandhi's 150th birth anniversary in 2019 we pay tribute to him by making our country completely clean: President Ram Nath Kovind × Baba Saheb Ambedkar used to say that without economic and social democracy, political democracy is unstable: President Kovind × READ: We have to pass Triple Talaq bill and protect Muslim women, says PM Modi

Budget Session: Govt working towards strengthening social justice, economic democracy says President

<p>In a short speech before the commencement of Parliament&rsquo;s Budget Session, PM Narendra Modi appealed to the opposition to pass the Triple Talaq Bill, which criminalises instant divorce.&nbsp;</p>

<p>PM Modi also said the budget will add new vigour to India&#39;s development and will fulfil aspirations of people.&nbsp;</p>

<p>&quot;We should rise above politics and make most use of our healthy system of parliamentary committees and have proactive discussions,&quot; he said.&nbsp;</p>

<p>The session started a short while ago with President Ram Nath Kovind&nbsp;addressing a joint sitting of the two houses.</p>

<p>The much-awaited economic survey will also be presented on the day 1 of the budget session.&nbsp;</p>

<p>The&nbsp;economic survey document is critical in the process of the Union Budget. It is not only an appraisal of the economy and government spending over the financial year that is coming to a close but also a roadmap that provides the rationale for Union Budget 2018, which will be tabled by Finance Minister Arun Jaitley on February 1.</p>

<p>The phase 1 of the session starts today and will go on till&nbsp;February 9. The second phase will take place from March 5 to April 6.</p>

<p>The budget will be tabled by finance minister Arun Jaitley on February 1, making it a first budget to be presented after Goods and Services Tax implementation.</p>

<p>The most important bills of this session would be the commission for backward classes and Triple Talaq bill, which was passed in Lok Sabha but was stalled in the Rajya Sabha.</p>


The phase 1 of the session begins today and will wrap up on February 9. The second phase will take place from March 5 to April 6.

In a short speech before the commencement of Parliament’s Budget Session, PM Narendra Modi appealed to the opposition to pass the Triple Talaq Bill, which criminalises instant divorce. PM Modi also said the budget will add new vigour to India's development and will fulfil aspirations of people. "We should rise above politics and make most use of our healthy system of parliamentary committees and have proactive discussions," he said. The session started a short while ago with President Ram Nath Kovind addressing a joint sitting of the two houses. The much-awaited economic survey will also be presented on the day 1 of the budget session. The economic survey document is critical in the process of the Union Budget. It is not only an appraisal of the economy and government spending over the financial year that is coming to a close but also a roadmap that provides the rationale for Union Budget 2018, which will be tabled by Finance Minister Arun Jaitley on February 1. The phase 1 of the session starts today and will go on till February 9. The second phase will take place from March 5 to April 6. The budget will be tabled by finance minister Arun Jaitley on February 1, making it a first budget to be presented after Goods and Services Tax implementation. The most important bills of this session would be the commission for backward classes and Triple Talaq bill, which was passed in Lok Sabha but was stalled in the Rajya Sabha.

Budget session 2018: PM Modi bats for Triple Talaq Bill to 'protect Muslim women'

<p>India is poised to raise its public health spending by 11 percent in the annual budget next month, after rejecting Health Minister J.P. Nadda&#39;s demand for a much bigger increase to ramp up disease control, according to government sources and documents.</p>

<p>Nadda sought a &quot;bare minimum&quot; budget of nearly $10 billion for 2018-19 - 33 percent higher than last year - in a letter to the finance minister on November 26, which Reuters has reviewed.</p>

<p>Nadda argued the funds were needed for expanding vaccination coverage and free drugs distribution and also to ward off a growing threat of non-communicable diseases, such as cancer and diabetes, which killed 6 million people in India in 2016.</p>

<p>His request was not approved: the health budget is expected to rise by 11 percent to $8.2 billion, three government officials told Reuters. They declined to be named or be identified further as the discussions were confidential.</p>

<p>Prime Minister Narendra Modi&#39;s government last year set a target of raising annual health spending to 2.5 percent of India&#39;s GDP by 2025, from 1.15 percent now - one of the lowest proportions in the world.</p>

<p>The health budget this year will put that pledge at risk.</p>

<p>&quot;What&#39;s the point of having a (2025) GDP target? With this funding, it still looks like a herculean task,&quot; said one of the officials interviewed.</p>

<p>The finance ministry declined to comment, while the health ministry did not respond to requests seeking comment. The budget for the financial year ending March 2019 will be presented on February 1.</p>

<p>Shamika Ravi, a member of Modi&#39;s economic advisory council, said she wasn&#39;t privy to the final budget numbers, but described an $8.2 billion annual health budget as &quot;not sufficient&quot;.</p>

<p>&quot;If we underspend on health, it will impact India&#39;s overall GDP by lowering productivity in the long term,&quot; said Ravi, who is also a research director at Brookings India.</p>

<p>Ravi, however, said she would continue to advise the government to allocate more funds for healthcare to achieve its 2025 GDP target.</p>

<p><strong>Economy versus health</strong></p>

<p>Last year, the government intensified efforts to overhaul the public healthcare system. It capped prices of several medical devices to help the poor, ramped up screening of non-communicable diseases and, on top of that, also raised the federal health budget by more than a quarter.</p>

<p>But the health budget increase for 2018-19 will be lower as the government&#39;s finances are stretched by slowing economic growth and tax collections that have lagged under a new sales tax regime, the officials said.</p>

<p>It was difficult to get the 11 percent hike approved, according to one of the officials, who said that it took many rounds of discussions between the health ministry and the finance ministry. Initially, the finance ministry had earmarked only a five percent increase in the budget, but that was increased after fresh representations by the health ministry, the official said.</p>

<p>Collections under the new national goods and services tax system stood at $12.6 billion in November, the lowest since its launch in July, which finance officials say have upset the government&#39;s overall revenues and their budget calculations.</p>

<p>In recent months, the finance ministry has said it wants to boost spending on sectors such as infrastructure, including ports and roads, to boost economic growth. That, along with the need to stick to fiscal targets, means that the budget for other sectors will be squeezed.</p>

<p>In his letter, Nadda made a case for a significant increase in his ministry&#39;s allocation, saying investments in public health would eventually result in a &quot;tenfold return for the economy&quot;.</p>

<p>Low public health spending leads to &quot;catastrophic&quot; medical expenses for people, he wrote.</p>

<p>India&#39;s overburdened health system remains plagued with an acute shortage of government hospitals in rural areas. In 2016, more than 1 million children died before turning five, the highest number for any nation in the world, a United Nations report said last year.</p>


Health minister Nadda sought a 'bare minimum' budget of nearly $10 billion for 2018-19 - 33 percent higher than last year

India is poised to raise its public health spending by 11 percent in the annual budget next month, after rejecting Health Minister J.P. Nadda's demand for a much bigger increase to ramp up disease control, according to government sources and documents. Nadda sought a "bare minimum" budget of nearly $10 billion for 2018-19 - 33 percent higher than last year - in a letter to the finance minister on November 26, which Reuters has reviewed. Nadda argued the funds were needed for expanding vaccination coverage and free drugs distribution and also to ward off a growing threat of non-communicable diseases, such as cancer and diabetes, which killed 6 million people in India in 2016. His request was not approved: the health budget is expected to rise by 11 percent to $8.2 billion, three government officials told Reuters. They declined to be named or be identified further as the discussions were confidential. Prime Minister Narendra Modi's government last year set a target of raising annual health spending to 2.5 percent of India's GDP by 2025, from 1.15 percent now - one of the lowest proportions in the world. The health budget this year will put that pledge at risk. "What's the point of having a (2025) GDP target? With this funding, it still looks like a herculean task," said one of the officials interviewed. The finance ministry declined to comment, while the health ministry did not respond to requests seeking comment. The budget for the financial year ending March 2019 will be presented on February 1. Shamika Ravi, a member of Modi's economic advisory council, said she wasn't privy to the final budget numbers, but described an $8.2 billion annual health budget as "not sufficient". "If we underspend on health, it will impact India's overall GDP by lowering productivity in the long term," said Ravi, who is also a research director at Brookings India. Ravi, however, said she would continue to advise the government to allocate more funds for healthcare to achieve its 2025 GDP target. Economy versus health Last year, the government intensified efforts to overhaul the public healthcare system. It capped prices of several medical devices to help the poor, ramped up screening of non-communicable diseases and, on top of that, also raised the federal health budget by more than a quarter. But the health budget increase for 2018-19 will be lower as the government's finances are stretched by slowing economic growth and tax collections that have lagged under a new sales tax regime, the officials said. It was difficult to get the 11 percent hike approved, according to one of the officials, who said that it took many rounds of discussions between the health ministry and the finance ministry. Initially, the finance ministry had earmarked only a five percent increase in the budget, but that was increased after fresh representations by the health ministry, the official said. Collections under the new national goods and services tax system stood at $12.6 billion in November, the lowest since its launch in July, which finance officials say have upset the government's overall revenues and their budget calculations. In recent months, the finance ministry has said it wants to boost spending on sectors such as infrastructure, including ports and roads, to boost economic growth. That, along with the need to stick to fiscal targets, means that the budget for other sectors will be squeezed. In his letter, Nadda made a case for a significant increase in his ministry's allocation, saying investments in public health would eventually result in a "tenfold return for the economy". Low public health spending leads to "catastrophic" medical expenses for people, he wrote. India's overburdened health system remains plagued with an acute shortage of government hospitals in rural areas. In 2016, more than 1 million children died before turning five, the highest number for any nation in the world, a United Nations report said last year.

India plans to raise health spending by 11% in budget; less than requested by Nadda

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