In Budget 2019, One woman in every SHG to be eligible for loan upto 1 lakh under Mudra scheme.

Budget 2019: One woman in every SHG to be eligible for loan upto 1 lakh under Mudra scheme

In Budget 2019, Govt will bring New Education Policy at par with international level, says Sitharaman

Budget 2019: Govt will bring New Education Policy at par with international level, says Sitharaman

Budget 2019: 'Time to increase minimum public shareholding in listed companies to 35%'.

Budget 2019: 'Time to increase minimum public shareholding in listed companies to 35%'

Budget 2019: India will become a $3-billion economy this year, says Nirmala Sitharaman.

Budget 2019: India will become a $3-billion economy this year, says Nirmala Sitharaman

Nirmala Sitharaman focuses on 'Gaon, Gareeb aur Kisan' in her first Budget in Union Budget 2019-20.

Budget 2019: Nirmala Sitharaman focuses on 'Gaon, Gareeb aur Kisan' in her first Budget

Budget 2019: Finance Minister Nirmala Sitharaman sets the 'ball rolling for New India'.

Budget 2019: Finance Minister Nirmala Sitharaman sets the 'ball rolling for New India'

Finance Minister Nirmala Sitharaman presents Union Budget 2019-20 in Lok Sabha. Watch this video for more in details. #Budget2019 #UnionBudget2019 #IndiaBudget2019 #Budget

Finance Minister Nirmala Sitharaman presents Union Budget 2019-20 in Lok Sabha

Climate change protesters briefly interrupted a high-profile speech by British Finance Minister Philip Hammond to leaders of the country's financial services industry on Thursday. Minister Suspended For Assault.

U.K Finance Minister Suspended For Assault, Video Shows Minister Grabbing Woman's Neck

BJP's largest ally Shiv Sena on Monday asked <a href="https://www.wionews.com/india-general-elections-2019/nirmala-sitharaman-the-first-full-time-woman-defence-minister-retained-as-union-minister-222866">Finance Minister Nirmala Sitharaman</a> to find a solution to the "economic crisis", citing the latest official data on slumping growth and rising unemployment.

It said merely playing around with words will not help fight unemployment, the highest in the last 45 years.

"The economic condition of the country appears to be deteriorating. The new Finance Minister must find a solution to the economic crisis. According to the data put forth by the National Sample Survey Office (NSSO), unemployment has increased by 6.1 per cent in the year 2017-18. This is the highest in the last 45 years. Merely playing around with words will not help the country fight the unemployment," an editorial in party mouthpiece 'Saamana'&nbsp;said.

Shiv Sena's comments came after the NSSO report, released on May 31, showed the GDP growth rate plunging to 5.8 per cent during the January to March quarter of the financial year 2018-19.

Recalling the Modi government's promise to create two crore jobs annually after it came to power in 2014, the editorial said, "In 2015-16, over 37 lakh job positions were vacant, but only 1.48 people were recruited. Likewise, in 2017-18, as many as 23 lakh job positions were to be filled, but only 9.21 lakh people were recruited."

It said that recruitment in the banks and railways also dropped.

"The condition of micro, small and medium enterprises (MSME) worsened over the years. Many of the public sector undertakings (PSUs) were either closed down or suffered a huge loss. New airports which were built by the BJP government in its last tenure are not fully functional," it read.

"Agriculture has received a huge blow. In the last 5 months, as many as 315 farmers have committed suicide in Marathawada alone. It is the responsibility of the government to provide employment to the people," the editorial added.&nbsp;

 
&nbsp;

BJP's largest ally Shiv Sena on Monday asked Finance Minister Nirmala Sitharaman to find a solution to the "economic crisis", citing the latest official data on slumping growth and rising unemployment.

BJP's largest ally Shiv Sena on Monday asked Finance Minister Nirmala Sitharaman to find a solution to the "economic crisis", citing the latest official data on slumping growth and rising unemployment. It said merely playing around with words will not help fight unemployment, the highest in the last 45 years. "The economic condition of the country appears to be deteriorating. The new Finance Minister must find a solution to the economic crisis. According to the data put forth by the National Sample Survey Office (NSSO), unemployment has increased by 6.1 per cent in the year 2017-18. This is the highest in the last 45 years. Merely playing around with words will not help the country fight the unemployment," an editorial in party mouthpiece 'Saamana' said. Shiv Sena's comments came after the NSSO report, released on May 31, showed the GDP growth rate plunging to 5.8 per cent during the January to March quarter of the financial year 2018-19. Recalling the Modi government's promise to create two crore jobs annually after it came to power in 2014, the editorial said, "In 2015-16, over 37 lakh job positions were vacant, but only 1.48 people were recruited. Likewise, in 2017-18, as many as 23 lakh job positions were to be filled, but only 9.21 lakh people were recruited." It said that recruitment in the banks and railways also dropped. "The condition of micro, small and medium enterprises (MSME) worsened over the years. Many of the public sector undertakings (PSUs) were either closed down or suffered a huge loss. New airports which were built by the BJP government in its last tenure are not fully functional," it read. "Agriculture has received a huge blow. In the last 5 months, as many as 315 farmers have committed suicide in Marathawada alone. It is the responsibility of the government to provide employment to the people," the editorial added.

Finance Minister must find a solution to economic crisis: Shiv Sena

Nirmala Sitharaman is the first woman finance minister though Indira Gandhi held the finance portfolio when she was the prime minister in 1970-71. Watch this video to know more.

Breaking: Nirmala Sitharaman takes charge as new Finance & Corporate Minister

Prime Minister Narendra Modi on Friday named <a href="https://www.wionews.com/india-general-elections-2019/nirmala-sitharaman-the-first-full-time-woman-defence-minister-retained-as-union-minister-222866">Nirmala Sitharaman</a> as the next finance minister of the country.

She will replace Arun Jaitley, who had expressed his unwillingness to join the new Modi government owing to his health, in the <a href="https://www.wionews.com/india-news/modi-20-rajnath-singh-is-defence-minister-amit-shah-home-nirmala-sitharaman-gets-finace-223084">portfolios announced by the government today</a>.

Sitharaman was the defence minister in the previous NDA dispensation. Before being elevated as the Defence minister, Sitharaman served as the Minister of State for Finance and Corporate Affairs in the Modi government. She was also Minister for Commerce and Industry with independent charge.

At 59, she is the senior most woman minister in Modi's cabinet and the second woman to head the finance department after late former prime minister Indira Gandhi.

"I have a neutral view. We will have to wait for her to speak to get her thoughts and ideas on reforms for the markets and the economy, but it will be in line with what the BJP-led government would overall target anyway," said Bekxy Kuriakose, head of fixed income, principal asset management in Mumbai.

"Nirmala Sitharaman is a relatively unknown entity despite holding a key portfolio in the previous government. Expectations as such will be low. From the markets' perspective, it's neutral at this stage," said Sandeep Sabharwal, a domestic fund manager.

Watch: Sitharaman takes oath as Union minister

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-nirmala-sitharaman-takes-oath-as-union-minister-222992/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Sitharaman will take over the finance ministry when there is pressure from industry for the government to provide some stimulus to halt a worrying slowdown in India's $2.7 trillion economy.

India probably lost its spot as the fastest growing major economy to China in the January-March quarter as a chill in domestic and global consumer demand hit manufacturers and service providers. Data for the quarter is set to be released later on Friday.

The government is already considering rolling out a slew of 'big-bang' economic reforms in the first 100 days of Modi's second term, with a focus on privatisation of state assets and relaxation of labour and land rules for businesses, a top official at the government's main think tank said.

A post-graduate in Economics, Sitharaman earlier served as a national spokesperson of the Bharatiya Janata Party (BJP) and is still remembered as one of its most articulate spokespersons, who fiercely attacked the Congress government over its various policies.

Now a seasoned politician, Sitharaman counts travel, trekking, music and cooking among her hobbies.

(With inputs from agencies)

Prime Minister Narendra Modi on Friday named Nirmala Sitharaman as the next finance minister of the country. She will replace Arun Jaitley, who had expressed his unwillingness to join the new Modi government owing to his health, in the portfolios announced by the government today.

Prime Minister Narendra Modi on Friday named Nirmala Sitharaman as the next finance minister of the country. She will replace Arun Jaitley, who had expressed his unwillingness to join the new Modi government owing to his health, in the portfolios announced by the government today. Sitharaman was the defence minister in the previous NDA dispensation. Before being elevated as the Defence minister, Sitharaman served as the Minister of State for Finance and Corporate Affairs in the Modi government. She was also Minister for Commerce and Industry with independent charge. At 59, she is the senior most woman minister in Modi's cabinet and the second woman to head the finance department after late former prime minister Indira Gandhi. "I have a neutral view. We will have to wait for her to speak to get her thoughts and ideas on reforms for the markets and the economy, but it will be in line with what the BJP-led government would overall target anyway," said Bekxy Kuriakose, head of fixed income, principal asset management in Mumbai. "Nirmala Sitharaman is a relatively unknown entity despite holding a key portfolio in the previous government. Expectations as such will be low. From the markets' perspective, it's neutral at this stage," said Sandeep Sabharwal, a domestic fund manager. Watch: Sitharaman takes oath as Union minister Sitharaman will take over the finance ministry when there is pressure from industry for the government to provide some stimulus to halt a worrying slowdown in India's $2.7 trillion economy. India probably lost its spot as the fastest growing major economy to China in the January-March quarter as a chill in domestic and global consumer demand hit manufacturers and service providers. Data for the quarter is set to be released later on Friday. The government is already considering rolling out a slew of 'big-bang' economic reforms in the first 100 days of Modi's second term, with a focus on privatisation of state assets and relaxation of labour and land rules for businesses, a top official at the government's main think tank said. A post-graduate in Economics, Sitharaman earlier served as a national spokesperson of the Bharatiya Janata Party (BJP) and is still remembered as one of its most articulate spokespersons, who fiercely attacked the Congress government over its various policies. Now a seasoned politician, Sitharaman counts travel, trekking, music and cooking among her hobbies. (With inputs from agencies)

Nirmala Sitharaman replaces Arun Jaitley as India's Finance Minister

Prime Minister Narendra Modi will drive down to ailing Finance Minister Arun Jaitley's residence at 8.30 PM. Arun Jaitley had wrote a letter to PM Modi over his health condition and according to sources Amit Shah could serve as Nation's next Finance Minister.

PM Modi to drive down to Arun Jaitley's home

Union Finance Minister <a href="https://www.wionews.com/india-general-elections-2019/election-results-to-be-in-consonance-with-exit-polls-outcome-arun-jaitley-220128">Arun Jaitley</a> is unlikely to continue in his current role due to poor health as <a href="https://www.wionews.com/india-general-elections-2019/lok-sabha-election-result-2019-pm-modi-thanks-world-leaders-sportspersons-and-celebrities-for-their-wishes-on-twitter-221240">Prime Minister Narendra Modi begins his second term,</a> according to four sources with knowledge of the matter.

The sources said that Jaitley, 66, is unlikely to take up any offer to continue in the top job steering Asia's third-largest economy as his health has deteriorated over the past few months.

The Bharatiya Janata Party swept the Indian general election with a historic mandate of about 300 out of 542 parliamentary seats that were contested, results announced by the Election Commission of India on May 23 showed.

"He is definitely not taking the post of the finance minister simply because he is very unwell," one of the sources, who did not want to be named, told Reuters.

"If at all, he might take up a less stressful role."

Jaitley did not return messages. His mobile phone didn't ring.

His officer on special duty, Paras Sankhla, did not respond to calls, mail and messages. Jaitley's personal secretary SD&nbsp;Ranakoti and assistant secretary Padam Singh Jamwal did not immediately respond to an email.

Jaitley, who is one of the top three leaders in the BJP and the government, after PM Modi and party President Amit Shah, was not seen at the celebrations at BJP headquarters on Thursday night. Both Modi and Shah gave victory speeches at the event.

He has not been seen in public for at least two weeks but has been publishing blogs and messages on social media.

Chief troubleshooter

In his latest message on social media, Jaitley congratulated Prime Minister Modi and all the workers of the BJP and its allies on the victory.

"Aspirational India does not accept royalties, dynasties and caste-based parties," he said in an apparent swipe at the opposition Congress party led by Rahul Gandhi, the fourth scion of the Gandhi family.

Jaitley, a lawyer-turned-politician, is one of the most important leaders in the current cabinet. He often acts as a chief troubleshooter.

In the past five years, Jaitley has steered through parliament major economic legislation such as a nationwide goods and services tax - which had languished for nearly two decades - and has defended controversial policies for the government.

Modi had given him the responsibility of three ministries when he first took office in 2014, finance, defence and information and broadcasting ministries.

A diabetic, Jaitley's health issues became worse after he had a kidney transplant in May last year. He also had to skip the interim budget in February when he was in hospital in the United States getting cancer treatment.

Shah, Modi's right-hand man, could be a candidate to take up the finance ministry, according to a senior minister in the current government, who did not want to be named due to the sensitivity of the issue.

India's economy is showing major signs of a slowdown after three consecutive years of 7% plus growth rates and the next finance minister is expected to seek to provide some economic stimulus without blowing the lid off the nation's fiscal deficit.

Piyush Goyal, 54, current railways and coal minister, also could be considered given that he stepped into the role twice in the Modi government between 2014 and 2019 when Jaitley was out sick.

Union Finance Minister Arun Jaitley is unlikely to continue in his current role due to poor health as Prime Minister Narendra Modi begins his second term, according to four sources with knowledge of the matter.

Union Finance Minister Arun Jaitley is unlikely to continue in his current role due to poor health as Prime Minister Narendra Modi begins his second term, according to four sources with knowledge of the matter. The sources said that Jaitley, 66, is unlikely to take up any offer to continue in the top job steering Asia's third-largest economy as his health has deteriorated over the past few months. The Bharatiya Janata Party swept the Indian general election with a historic mandate of about 300 out of 542 parliamentary seats that were contested, results announced by the Election Commission of India on May 23 showed. "He is definitely not taking the post of the finance minister simply because he is very unwell," one of the sources, who did not want to be named, told Reuters. "If at all, he might take up a less stressful role." Jaitley did not return messages. His mobile phone didn't ring. His officer on special duty, Paras Sankhla, did not respond to calls, mail and messages. Jaitley's personal secretary SD Ranakoti and assistant secretary Padam Singh Jamwal did not immediately respond to an email. Jaitley, who is one of the top three leaders in the BJP and the government, after PM Modi and party President Amit Shah, was not seen at the celebrations at BJP headquarters on Thursday night. Both Modi and Shah gave victory speeches at the event. He has not been seen in public for at least two weeks but has been publishing blogs and messages on social media. Chief troubleshooter In his latest message on social media, Jaitley congratulated Prime Minister Modi and all the workers of the BJP and its allies on the victory. "Aspirational India does not accept royalties, dynasties and caste-based parties," he said in an apparent swipe at the opposition Congress party led by Rahul Gandhi, the fourth scion of the Gandhi family. Jaitley, a lawyer-turned-politician, is one of the most important leaders in the current cabinet. He often acts as a chief troubleshooter. In the past five years, Jaitley has steered through parliament major economic legislation such as a nationwide goods and services tax - which had languished for nearly two decades - and has defended controversial policies for the government. Modi had given him the responsibility of three ministries when he first took office in 2014, finance, defence and information and broadcasting ministries. A diabetic, Jaitley's health issues became worse after he had a kidney transplant in May last year. He also had to skip the interim budget in February when he was in hospital in the United States getting cancer treatment. Shah, Modi's right-hand man, could be a candidate to take up the finance ministry, according to a senior minister in the current government, who did not want to be named due to the sensitivity of the issue. India's economy is showing major signs of a slowdown after three consecutive years of 7% plus growth rates and the next finance minister is expected to seek to provide some economic stimulus without blowing the lid off the nation's fiscal deficit. Piyush Goyal, 54, current railways and coal minister, also could be considered given that he stepped into the role twice in the Modi government between 2014 and 2019 when Jaitley was out sick.

Arun Jaitley unlikely to remain finance minister in PM Modi's new term: Report

Jet Airways CEO Vinay Dube on Saturday informed the media he, along with his staff, met Finance Minister Arun Jaitley at his residence and requested him "to have an open and transparent bid process," news agency ANI reported. &nbsp;

Dube added that Jaitley assured them and that there were four parties interested in Jet Airways.&nbsp;

"We met Finance Minister Arun Jaitley and presented our case. We requested him to have an open and transparent bid process, he assured us of that and also told us that as part of an expression of interest that there were 4 parties that were interested in Jet Airways," Dube told reporters today evening in New Delhi.&nbsp;

Jet Airways, earlier in the week, shuttered its operations temporarily owing to lenders deciding not to extend any emergency funds.

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Jet Airways CEO Vinay Dube: We met Finance Minister Arun Jaitley&amp;presented our case. We requested him to have an open&amp;transparent bid process,he assured us of that &amp; also told us that as part of expression of interest there were 4 parties that were interested in Jet Airways. <a href="https://t.co/jiuRC9IVoG">pic.twitter.com/jiuRC9IVoG</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1119616084787761152?ref_src=twsrc%5Etfw">April 20, 2019</a></blockquote>
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<a href="https://www.wionews.com/business-economy/jet-airways-shares-sink-over-32-hit-52-week-low-during-the-day-211542">Shares of Jet Airways continued to fall</a> for the second day in a row on Thursday, plummeting over 32 per cent.&nbsp;

The scrip tanked 32.23 per cent to close at Rs 163.90 on the BSE. Intra-day, it plunged 34.62 per cent to Rs 158.10 -- 52-week low.

On the National Stock Exchange (NSE), shares sank 31 per cent to close at Rs 165.75 apiece.

Stock markets were closed on Wednesday and Friday.&nbsp;

Meanwhile, in a statement early Thursday, Jet Airways' lenders said they were reasonably hopeful of a successful bidding process for a stake sale.

Jet had been on a decline in the past few months as competition from budget airlines hurt its profitability and led to a debt pile. It reported losses for four straight quarters despite sales holding up.

Jet Airways CEO Vinay Dube on Saturday informed the media he, along with his staff, met Finance Minister Arun Jaitley at his residence and requested him "to have an open and transparent bid process," news agency ANI reported.

Jet Airways CEO Vinay Dube on Saturday informed the media he, along with his staff, met Finance Minister Arun Jaitley at his residence and requested him "to have an open and transparent bid process," news agency ANI reported. Dube added that Jaitley assured them and that there were four parties interested in Jet Airways. "We met Finance Minister Arun Jaitley and presented our case. We requested him to have an open and transparent bid process, he assured us of that and also told us that as part of an expression of interest that there were 4 parties that were interested in Jet Airways," Dube told reporters today evening in New Delhi. Jet Airways, earlier in the week, shuttered its operations temporarily owing to lenders deciding not to extend any emergency funds. Jet Airways CEO Vinay Dube: We met Finance Minister Arun Jaitley&presented our case. We requested him to have an open&transparent bid process,he assured us of that & also told us that as part of expression of interest there were 4 parties that were interested in Jet Airways. pic.twitter.com/jiuRC9IVoG — ANI (@ANI) April 20, 2019 × Shares of Jet Airways continued to fall for the second day in a row on Thursday, plummeting over 32 per cent. The scrip tanked 32.23 per cent to close at Rs 163.90 on the BSE. Intra-day, it plunged 34.62 per cent to Rs 158.10 -- 52-week low. On the National Stock Exchange (NSE), shares sank 31 per cent to close at Rs 165.75 apiece. Stock markets were closed on Wednesday and Friday. Meanwhile, in a statement early Thursday, Jet Airways' lenders said they were reasonably hopeful of a successful bidding process for a stake sale. Jet had been on a decline in the past few months as competition from budget airlines hurt its profitability and led to a debt pile. It reported losses for four straight quarters despite sales holding up.

Jet CEO Vinay Dube meets Arun Jaitley, says 'we have been assured of open and transparent bid process'

Pakistan's Finance Minister Asad Umar on Wednesday claimed that basic debts of the <a href="https://www.wionews.com/south-asia/imran-khans-promise-of-naya-pakistan-a-distant-dream-as-pakistan-economy-struggles-207337">Islamic Republic</a> are so big that it's near<a href="https://www.wionews.com/south-asia/pakistan-imf-close-to-reaching-deal-on-bailout-207334"> bankruptcy</a>.

The Finance Minister said this in a live session on Social Media in Islamabad.

“You are going to the IMF with these massive debts in the toe for a bailout. We have had to fill big gaps” the minister was quoted as saying by Pakistan media.

Pakistan's economic growth is set to slump further to 3.9 per cent in the fiscal year 2019 from 5.2 per cent in 2018, the Asian Development Bank forecast Wednesday, citing the "macroeconomic challenges" faced by the cash-strapped country.

<div class="ui-state-default" contenteditable="false">
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<a href="https://twitter.com/hashtag/AskAsadUmar?src=hash&amp;ref_src=twsrc%5Etfw">#AskAsadUmar</a> 
 
"Our basic debts are so big that we are near bankruptcy. You are going go the IMF with these massive debts in toe for a bailout. We have had to fill big gaps; the last three months of PMLn we were bleeding 2 billion dollars" <a href="https://twitter.com/Asad_Umar?ref_src=twsrc%5Etfw">@Asad_Umar</a>
— Tehreek-e-Insaf (@InsafPK) <a href="https://twitter.com/InsafPK/status/1113437747249909762?ref_src=twsrc%5Etfw">April 3, 2019</a></blockquote>
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Earlier on April 1, Asad Umar had said that negotiations with International Monetary Fund (IMF) have reached its final stage with a settlement of almost all issues related to a bailout package.

According to reports, Pakistan intends to seek for a loan worth $6 to $8 billion from the IMF.&nbsp;

However, a final agreement between the two is expected to finalise when the IMF and the World Bank holds a session in April in Washington.

Pakistan's consumer price inflation rose to 9.41 per cent year-on-year, up from 8.21 per cent in February, after citing a data released by the Bureau of Statistics on Monday.

Last week, Pakistan's Central Bank lifted its key policy rate by 50 basis points to 10.75 per cent, citing continuing inflationary pressures as well as high fiscal and current account deficits.

Consumer price inflation has jumped sharply over the past year, climbing from under four per cent at the start of 2018, lifted by sharp rises in food, fuel and transport costs that have squeezed household budgets.

(With inputs from agencies)

Pakistan's Finance Minister Asad Umar on Wednesday claimed that basic debts of the Islamic Republic are so big that it's near bankruptcy. The Finance Minister said this in a live session on Social Media in Islamabad.

Pakistan's Finance Minister Asad Umar on Wednesday claimed that basic debts of the Islamic Republic are so big that it's near bankruptcy. The Finance Minister said this in a live session on Social Media in Islamabad. “You are going to the IMF with these massive debts in the toe for a bailout. We have had to fill big gaps” the minister was quoted as saying by Pakistan media. Pakistan's economic growth is set to slump further to 3.9 per cent in the fiscal year 2019 from 5.2 per cent in 2018, the Asian Development Bank forecast Wednesday, citing the "macroeconomic challenges" faced by the cash-strapped country. #AskAsadUmar "Our basic debts are so big that we are near bankruptcy. You are going go the IMF with these massive debts in toe for a bailout. We have had to fill big gaps; the last three months of PMLn we were bleeding 2 billion dollars" @Asad_Umar — Tehreek-e-Insaf (@InsafPK) April 3, 2019 × Earlier on April 1, Asad Umar had said that negotiations with International Monetary Fund (IMF) have reached its final stage with a settlement of almost all issues related to a bailout package. According to reports, Pakistan intends to seek for a loan worth $6 to $8 billion from the IMF. However, a final agreement between the two is expected to finalise when the IMF and the World Bank holds a session in April in Washington. Pakistan's consumer price inflation rose to 9.41 per cent year-on-year, up from 8.21 per cent in February, after citing a data released by the Bureau of Statistics on Monday. Last week, Pakistan's Central Bank lifted its key policy rate by 50 basis points to 10.75 per cent, citing continuing inflationary pressures as well as high fiscal and current account deficits. Consumer price inflation has jumped sharply over the past year, climbing from under four per cent at the start of 2018, lifted by sharp rises in food, fuel and transport costs that have squeezed household budgets. (With inputs from agencies)

Pakistan’s basic debts are so big that it's near bankruptcy, says Finance Minister Asad Umar

WION Exclusive: In conversation with Finance Minister Arun Jaitley

'One failed. The other won't take-off', <a href="https://www.wionews.com/india-news/country-safe-under-pm-narendra-modis-leadership-says-finance-minister-arun-jaitley-202993">Finance Minister Arun Jaitley</a> said as he took a jibe on the entry of Priyanka Gandhi into politics. 
 
Generation after generation, the Congress Party's leadership berth is reserved for a member of the preferred family, he said as he traced the post-independence history of the party from Jawaharlal Nehru to Indira Gandhi to Sanjay Gandhi to Rajiv Gandhi. 
 
Continuing the series of his blogs on 'Agenda 2019', he said the Congress tried to remove itself from the shackles of the dynasty for a brief period after the unfortunate assassination of Rajiv Gandhi but could not get out of its clutches for long.&nbsp; 
 
'Smt. Sonia Gandhi then took over as the longest serving President of the Indian National Congress and thereafter passed on the leadership baton of the Party to her son Rahul Gandhi.&nbsp; 
 
'Thus, generation after generation, the Congress Party's leadership berth is reserved for a member of the preferred family. When the Party is now in doldrums, another member of the family has entered the scene,'&nbsp;said the senior BJP leader who is in charge of the party's publicity committee.&nbsp; 
 
Jaitley was referring to <a href="https://www.wionews.com/opinions/lok-sabha-polls-analysing-the-battle-of-east-up-and-the-priyanka-factor-202815">Priyanka Gandhi Vadra</a>, who has been recently appointed as Congress general secretary in-charge of eastern Uttar Pradesh. 
 
The Finance Minister further said: "The key question is - will the dynastic parties learn from their 2014 drubbing and a possible defeat in 2019?&nbsp; 
 
'Possibly not. It is here that the people of India will have to bring about a change. India is not a monarchy. Neither is it a kingdom or dynastic democracy. Dynasts disapprove persons of talent and merit.&nbsp; 
 
'The real strength of democracy will be realized when the myth of dynasties is finally buried and these parties are taken over by men of competence and merit. That will provide Indians with a better choice, he said.&nbsp; 
 
Another curious feature, he said, is that most families where a single dynasty created the party, have moved into the next generation.&nbsp; 
 
'In the next generation, there may be more than one heir. Both the heirs become aspirational and, therefore, the parent dynast distributes the largesse. But recent history has proved otherwise,'&nbsp;Jaitley said.&nbsp; 
 
He added that Chinese philosopher Confucius had rightly said that just as there can be only one sun in the sky, there can be only one emperor on the Earth.&nbsp; 
 
'Where power-sharing between successor dynasts takes place, who is the ultimate emperor?, 'he wondered as he highlighted instances of family-based political parties in states like Uttar Pradesh, Bihar, Haryana, Andhra Pradesh. 
 
In Karnataka, he said there is an experiment of sons sharing the state and the grandsons sharing the Centre, and in Maharashtra, the initial ripples have started. 
&nbsp; 
'The Congress has undertaken the same experiment. It believes that the two owners are better than one. Will Confucius be proved right and historical record that one eventually prevailed over the other or will it be otherwise. One failed. The other won't take-off,'&nbsp;Jaitley said.&nbsp; 
 
On the other hand, he said Prime Minister Narendra Modi grew from an extremely humble background.&nbsp; 
 
He worked in the party organization till he was inducted into the leadership and he had to work and struggle for the positions that he got.&nbsp; 
 
'He earned them," Jaitley said and exuded confidence that Modi and aspirational India would together demolish the concept of families.&nbsp; 
 
'The real strength of democracy will be realized when the myth of dynasties is finally buried and these parties are taken over by men of competence and merit. That will provide Indians with a choice'&nbsp;the minister remarked. 
 
India will start voting to elect next Lok Sabha from April 11. The results would be announced on May 23.&nbsp;

'One failed. The other won't take-off', Finance Minister Arun Jaitley said as he took a jibe on the entry of Priyanka Gandhi into politics. Generation after generation, the Congress Party's leadership berth is reserved for a member of the preferred family, he said as he traced the post-independence history of the party from Jawaharlal Nehru to Indira Gandhi to Sanjay Gandhi to Rajiv Gandhi.

'One failed. The other won't take-off', Finance Minister Arun Jaitley said as he took a jibe on the entry of Priyanka Gandhi into politics. Generation after generation, the Congress Party's leadership berth is reserved for a member of the preferred family, he said as he traced the post-independence history of the party from Jawaharlal Nehru to Indira Gandhi to Sanjay Gandhi to Rajiv Gandhi. Continuing the series of his blogs on 'Agenda 2019', he said the Congress tried to remove itself from the shackles of the dynasty for a brief period after the unfortunate assassination of Rajiv Gandhi but could not get out of its clutches for long. 'Smt. Sonia Gandhi then took over as the longest serving President of the Indian National Congress and thereafter passed on the leadership baton of the Party to her son Rahul Gandhi. 'Thus, generation after generation, the Congress Party's leadership berth is reserved for a member of the preferred family. When the Party is now in doldrums, another member of the family has entered the scene,' said the senior BJP leader who is in charge of the party's publicity committee. Jaitley was referring to Priyanka Gandhi Vadra, who has been recently appointed as Congress general secretary in-charge of eastern Uttar Pradesh. The Finance Minister further said: "The key question is - will the dynastic parties learn from their 2014 drubbing and a possible defeat in 2019? 'Possibly not. It is here that the people of India will have to bring about a change. India is not a monarchy. Neither is it a kingdom or dynastic democracy. Dynasts disapprove persons of talent and merit. 'The real strength of democracy will be realized when the myth of dynasties is finally buried and these parties are taken over by men of competence and merit. That will provide Indians with a better choice, he said. Another curious feature, he said, is that most families where a single dynasty created the party, have moved into the next generation. 'In the next generation, there may be more than one heir. Both the heirs become aspirational and, therefore, the parent dynast distributes the largesse. But recent history has proved otherwise,' Jaitley said. He added that Chinese philosopher Confucius had rightly said that just as there can be only one sun in the sky, there can be only one emperor on the Earth. 'Where power-sharing between successor dynasts takes place, who is the ultimate emperor?, 'he wondered as he highlighted instances of family-based political parties in states like Uttar Pradesh, Bihar, Haryana, Andhra Pradesh. In Karnataka, he said there is an experiment of sons sharing the state and the grandsons sharing the Centre, and in Maharashtra, the initial ripples have started. 'The Congress has undertaken the same experiment. It believes that the two owners are better than one. Will Confucius be proved right and historical record that one eventually prevailed over the other or will it be otherwise. One failed. The other won't take-off,' Jaitley said. On the other hand, he said Prime Minister Narendra Modi grew from an extremely humble background. He worked in the party organization till he was inducted into the leadership and he had to work and struggle for the positions that he got. 'He earned them," Jaitley said and exuded confidence that Modi and aspirational India would together demolish the concept of families. 'The real strength of democracy will be realized when the myth of dynasties is finally buried and these parties are taken over by men of competence and merit. That will provide Indians with a choice' the minister remarked. India will start voting to elect next Lok Sabha from April 11. The results would be announced on May 23.

One failed, the other won't take-off, Arun Jaitley's jibe on Congress

Britain on Wednesday slashed its 2019 economic growth forecast, as finance minister Philip Hammond said lifting Brexit's "cloud of uncertainty" was parliament's "most urgent task".

The UK economy is forecast to grow by 1.2 percent this year, sharply down on the government's prediction of 1.6 percent in October, Hammond said as he gave a budget update hours before MPs vote on whether to allow the country to leave the EU with no deal.

Analysts expect parliament instead to favor delaying Britain's departure beyond the March 29 exit date, in a further vote due Thursday.

This is after parliament on Tuesday overwhelmingly rejected the country's draft Brexit divorce agreement with Brussels.

"I am acutely conscious that the House (of Commons) has other pressing matters on its mind today," Chancellor of the Exchequer Hammond told MPs after announcing that British gross domestic product growth would be much lower than expected this year, with the UK economy hit also by China's slowdown and trade war tensions.

"Last night's vote leaves a cloud of uncertainty hanging over our economy and... our most urgent task in this House is to lift that uncertainty," Hammond said in his budget address.

"Leaving with 'no deal' would mean a significant disruption in the short and medium term, and a smaller, less prosperous economy in the long term than if we leave with a deal -- higher unemployment, lower wages, higher prices in the shops.&nbsp;

"That is not what the British people voted for in June 2016" to leave the EU, the chancellor added.

Hammond added that the UK economy was expected to grow by 1.4 percent in 2020, unchanged from the government's October forecast.

Britain on Wednesday slashed its 2019 economic growth forecast, as finance minister Philip Hammond said lifting Brexit's "cloud of uncertainty" was parliament's "most urgent task".

Britain on Wednesday slashed its 2019 economic growth forecast, as finance minister Philip Hammond said lifting Brexit's "cloud of uncertainty" was parliament's "most urgent task". The UK economy is forecast to grow by 1.2 percent this year, sharply down on the government's prediction of 1.6 percent in October, Hammond said as he gave a budget update hours before MPs vote on whether to allow the country to leave the EU with no deal. Analysts expect parliament instead to favor delaying Britain's departure beyond the March 29 exit date, in a further vote due Thursday. This is after parliament on Tuesday overwhelmingly rejected the country's draft Brexit divorce agreement with Brussels. "I am acutely conscious that the House (of Commons) has other pressing matters on its mind today," Chancellor of the Exchequer Hammond told MPs after announcing that British gross domestic product growth would be much lower than expected this year, with the UK economy hit also by China's slowdown and trade war tensions. "Last night's vote leaves a cloud of uncertainty hanging over our economy and... our most urgent task in this House is to lift that uncertainty," Hammond said in his budget address. "Leaving with 'no deal' would mean a significant disruption in the short and medium term, and a smaller, less prosperous economy in the long term than if we leave with a deal -- higher unemployment, lower wages, higher prices in the shops. "That is not what the British people voted for in June 2016" to leave the EU, the chancellor added. Hammond added that the UK economy was expected to grow by 1.4 percent in 2020, unchanged from the government's October forecast.

United Kingdom slashes 2019 economic growth forecast: Budget

Asserting that the nation is safe under the leadership of Prime Minister Narendra Modi, Finance Minister Arun Jaitley on Tuesday accused the Congress of weakening the fight against terrorists and questioned if the party should be trusted by the electorates in the ensuing Lok Sabha elections.

In a blog titled–‘Prime Minister Modi’s Evolving National Security Doctrine,’ Jaitley said the Congress is one with the Central government on condemning the ghastly terror attack in south Kashmir’s Pulwama but is disturbed about the air strike in Balakot in Pakistan and hence the party “repeatedly rubbishes the surgical strikes.”

“It contends that they have either taken place in the past also or alternatively they never took place under Prime Minister Modi. On the air strikes, their conduct is even more dubious. While giving lip sympathy to the Indian Air Force for the first two days, they started a multi-pronged attack. They questioned the success of the strikes. They started demanding proof that terrorists had died at Balakot,” Jaitley said in the blog.

“They even contended that the strike had taken place not against terror but to ensure BJP’s victory in the forthcoming elections. This was a self-goal by the Congress in domestic politics. This was also playing into the hands of Pakistan where statements of Congress leaders, including Rahul Gandhi, were played out on television channels in Pakistan. Pakistan Government cited these statements to bolster their own falsehood,” he added.

Underlining that Jammu and Kashmir was a “foremost victim of terror” and its people are the “worst sufferers,” Jaitley said that the Congress had no structured plan during ten years of UPA on how to deal with the problem. “Prime Minister Narendra Modi inherited this as a legacy issue. He experimented the conventional method of trying to soften the relationship with Pakistan in a hope that wiser sense would prevail, but Pakistan responded with Pathankot, Uri, and Pulwama,” he said.

“He encouraged the mainstream political parties of the Valley to be a part of the national coalition in Kashmir but unfortunately the double talk of support from Delhi and the pressure from the Jamat-e-Islami were to the detriment of anti-separatists policy,” Jaitley elaborated. Continuing his tirade against the Congress, the Finance Minister wrote, “When the Batla House encounter took place and the terrorists were killed, the Congress leaders dubbed it as a fake encounter. The terrorists they claimed were innocent.”

“When the guilty of the 1993 Mumbai bomb blast, 26/11 attack on India’s commercial capital and the Parliament attack case were to be executed, many Congressmen started appealing for amnesty. The ‘disruptionists’ who prefer to call themselves ‘Left liberals’, fought a legal battle to save the terrorists.”

Jaitley asserted that the “low point” in Congress party’s attitude towards separatism and terror was reached when a combination of separatists, jehadis and Maoists ganged up to raise slogans on ‘Desh ke tukde tukde’ at New Delhi’s JNU, where Congress President Rahul Gandhi “stood shoulder to shoulder with them to defend their right of free speech to champion the cause of breaking India into pieces.”

“He deviated from the Congress legacy of not associating with these extremists. Once the identification of Congressmen with the Maoists and the separatists was signalled by Rahul Gandhi, it was natural for Congressmen and their friends to support the cause of ‘urban Maoists’ who were allegedly conspiring to assassinate India’s Prime Minister,” Jaitley said.

He went on to add: “It is, therefore, not surprising that the new Government in Chhattisgarh, the hub of Left-wing extremism, has now taken several decisions, including the appointment of committees to effectively examine the ‘misuse’ of police powers against the Maoists.” Jaitley went on to say that the battle against terror has been weakened on account of Congress party and its ‘mahagathbandhan’ friends diluting the fight for the “sake of votes.”

Asserting that the nation is safe under the leadership of Prime Minister Narendra Modi, Finance Minister Arun Jaitley on Tuesday accused the Congress of weakening the fight against terrorists and questioned if the party should be trusted by the electorates in the ensuing Lok Sabha elections.

Asserting that the nation is safe under the leadership of Prime Minister Narendra Modi, Finance Minister Arun Jaitley on Tuesday accused the Congress of weakening the fight against terrorists and questioned if the party should be trusted by the electorates in the ensuing Lok Sabha elections. In a blog titled–‘Prime Minister Modi’s Evolving National Security Doctrine,’ Jaitley said the Congress is one with the Central government on condemning the ghastly terror attack in south Kashmir’s Pulwama but is disturbed about the air strike in Balakot in Pakistan and hence the party “repeatedly rubbishes the surgical strikes.” “It contends that they have either taken place in the past also or alternatively they never took place under Prime Minister Modi. On the air strikes, their conduct is even more dubious. While giving lip sympathy to the Indian Air Force for the first two days, they started a multi-pronged attack. They questioned the success of the strikes. They started demanding proof that terrorists had died at Balakot,” Jaitley said in the blog. “They even contended that the strike had taken place not against terror but to ensure BJP’s victory in the forthcoming elections. This was a self-goal by the Congress in domestic politics. This was also playing into the hands of Pakistan where statements of Congress leaders, including Rahul Gandhi, were played out on television channels in Pakistan. Pakistan Government cited these statements to bolster their own falsehood,” he added. Underlining that Jammu and Kashmir was a “foremost victim of terror” and its people are the “worst sufferers,” Jaitley said that the Congress had no structured plan during ten years of UPA on how to deal with the problem. “Prime Minister Narendra Modi inherited this as a legacy issue. He experimented the conventional method of trying to soften the relationship with Pakistan in a hope that wiser sense would prevail, but Pakistan responded with Pathankot, Uri, and Pulwama,” he said. “He encouraged the mainstream political parties of the Valley to be a part of the national coalition in Kashmir but unfortunately the double talk of support from Delhi and the pressure from the Jamat-e-Islami were to the detriment of anti-separatists policy,” Jaitley elaborated. Continuing his tirade against the Congress, the Finance Minister wrote, “When the Batla House encounter took place and the terrorists were killed, the Congress leaders dubbed it as a fake encounter. The terrorists they claimed were innocent.” “When the guilty of the 1993 Mumbai bomb blast, 26/11 attack on India’s commercial capital and the Parliament attack case were to be executed, many Congressmen started appealing for amnesty. The ‘disruptionists’ who prefer to call themselves ‘Left liberals’, fought a legal battle to save the terrorists.” Jaitley asserted that the “low point” in Congress party’s attitude towards separatism and terror was reached when a combination of separatists, jehadis and Maoists ganged up to raise slogans on ‘Desh ke tukde tukde’ at New Delhi’s JNU, where Congress President Rahul Gandhi “stood shoulder to shoulder with them to defend their right of free speech to champion the cause of breaking India into pieces.” “He deviated from the Congress legacy of not associating with these extremists. Once the identification of Congressmen with the Maoists and the separatists was signalled by Rahul Gandhi, it was natural for Congressmen and their friends to support the cause of ‘urban Maoists’ who were allegedly conspiring to assassinate India’s Prime Minister,” Jaitley said. He went on to add: “It is, therefore, not surprising that the new Government in Chhattisgarh, the hub of Left-wing extremism, has now taken several decisions, including the appointment of committees to effectively examine the ‘misuse’ of police powers against the Maoists.” Jaitley went on to say that the battle against terror has been weakened on account of Congress party and its ‘mahagathbandhan’ friends diluting the fight for the “sake of votes.”

Country safe under PM Narendra Modi’s leadership, says Finance Minister Arun Jaitley

Within hours of the interim Budget being presented in Parliament Friday, a petition was filed in the Supreme Court seeking that it be quashed on the alleged ground that there is no Constitutional provision for an interim budget.

The petition, filed by advocate Manohar Lal Sharma, submitted that under the Constitution, there is the only provision for presenting a full annual Budget and vote-on-account.

A vote-on-account is an approval taken in an election year for a limited period for government spending; a full-fledged budget is presented later by the newly elected government.

The interim Budget was presented in the Lok Sabha by Finance Minister Piyush Goyal proposing an array of incentives for both middle class and farmers.

The 2019 Lok Sabha elections are scheduled to take place within a few months.

In December last year, the top court had imposed a cost of Rs 50,000 on Sharma for filing public interest litigation against the then Finance Minister Arun Jaitley over an issue related to the Reserve Bank of India's capital reserve.&nbsp;

Within hours of the interim Budget being presented in Parliament Friday, a petition was filed in the Supreme Court seeking that it be quashed on the alleged ground that there is no Constitutional provision for an interim budget.

Within hours of the interim Budget being presented in Parliament Friday, a petition was filed in the Supreme Court seeking that it be quashed on the alleged ground that there is no Constitutional provision for an interim budget. The petition, filed by advocate Manohar Lal Sharma, submitted that under the Constitution, there is the only provision for presenting a full annual Budget and vote-on-account. A vote-on-account is an approval taken in an election year for a limited period for government spending; a full-fledged budget is presented later by the newly elected government. The interim Budget was presented in the Lok Sabha by Finance Minister Piyush Goyal proposing an array of incentives for both middle class and farmers. The 2019 Lok Sabha elections are scheduled to take place within a few months. In December last year, the top court had imposed a cost of Rs 50,000 on Sharma for filing public interest litigation against the then Finance Minister Arun Jaitley over an issue related to the Reserve Bank of India's capital reserve.

Plea in Supreme Court against interim budget

Budget 2019: Arun Jaitley speaks on Budget 2019

India Budget 2019: Rahul Gandhi tweets to mock high unemployment rate in India

<a href="http://www.wionews.com/india-news/piyush-goyal-may-present-budget-as-he-gets-additional-charge-of-finance-ministry-192343">Finance Minister Piyush Goyal</a> will meet the CEOs of public sector banks Monday to take stock of the banking sector, and discuss ways to improve their financial health, sources said.

The meeting assumes significance as it comes just three days ahead of the Budget 2019-20, the last from this government before the general elections expected to be held in April-May.

The full-day meeting is likely to be attended by Reserve Bank of India Governor Shaktikanta Das, who is going to announce his first monetary policy review on February 7.

Goyal, who was given additional charge of the finance ministry last Wednesday as <a href="http://www.wionews.com/india-news/arun-jaitley-in-good-health-recovering-rapidly-piyush-goyal-192699">Arun Jaitley is away to the US for treatment</a>, is his expected to discuss a host of issues including credit offtake and bad loan position of lenders.

Among the key issues, sources said, the meeting will review the progress of various schemes of the government being implemented through the government. It will also review the credit flow to MSMEs, agriculture and retail sectors.

Besides, sources said, the meeting will also review the financial performance of the banks for the nine months ended December 2018. 
Non-performing assets (NPAs) would also come up for deliberation, they added.

Public sector banks (PSBs) have seen a decline in bad loans by over Rs 23,000 crore from a peak of Rs 9.62 lakh crore in March 2018 due to various initiatives taken by the government.

At the same time, PSBs have also made a record in the recovery of Rs 60,726 crore in the first half of the current financial year, which is more than double the amount recovered in the corresponding period last year.

According to the latest finance ministry data, non-NPA accounts overdue by 31 to 90 days (Special Mention Accounts 1 &amp; 2) of PSBs have declined by 61 per cent over five successive quarters - from Rs 2.25 lakh crore as of June 2017 to Rs 0.87 lakh crore in September 2018.

In his first stint as finance minister for 100 days last year, Goyal was instrumental in setting up a committee headed by the non-executive chairman of Punjab National Bank Sunil Mehta to examine whether the creation of an asset reconstruction company or asset management company to help in the faster resolution of stressed assets.

Finance Minister Piyush Goyal will meet the CEOs of public sector banks Monday to take stock of the banking sector, and discuss ways to improve their financial health, sources said.

Finance Minister Piyush Goyal will meet the CEOs of public sector banks Monday to take stock of the banking sector, and discuss ways to improve their financial health, sources said. The meeting assumes significance as it comes just three days ahead of the Budget 2019-20, the last from this government before the general elections expected to be held in April-May. The full-day meeting is likely to be attended by Reserve Bank of India Governor Shaktikanta Das, who is going to announce his first monetary policy review on February 7. Goyal, who was given additional charge of the finance ministry last Wednesday as Arun Jaitley is away to the US for treatment, is his expected to discuss a host of issues including credit offtake and bad loan position of lenders. Among the key issues, sources said, the meeting will review the progress of various schemes of the government being implemented through the government. It will also review the credit flow to MSMEs, agriculture and retail sectors. Besides, sources said, the meeting will also review the financial performance of the banks for the nine months ended December 2018. Non-performing assets (NPAs) would also come up for deliberation, they added. Public sector banks (PSBs) have seen a decline in bad loans by over Rs 23,000 crore from a peak of Rs 9.62 lakh crore in March 2018 due to various initiatives taken by the government. At the same time, PSBs have also made a record in the recovery of Rs 60,726 crore in the first half of the current financial year, which is more than double the amount recovered in the corresponding period last year. According to the latest finance ministry data, non-NPA accounts overdue by 31 to 90 days (Special Mention Accounts 1 & 2) of PSBs have declined by 61 per cent over five successive quarters - from Rs 2.25 lakh crore as of June 2017 to Rs 0.87 lakh crore in September 2018. In his first stint as finance minister for 100 days last year, Goyal was instrumental in setting up a committee headed by the non-executive chairman of Punjab National Bank Sunil Mehta to examine whether the creation of an asset reconstruction company or asset management company to help in the faster resolution of stressed assets.

Finance minister Piyush Goyal to meet heads of PSU banks on Monday

Railway Minister Piyush Goyal has been given additional charge of Ministries of Finance and Corporate Affairs, the portfolios held by Arun Jaitley.

According to a Rashtrapati Bhavan communique, the President, as advised by Prime Minister Narendra Modi, directed that during the period of Jaitley's indisposition, the portfolios of the Minister of Finance and the Minister of Corporate Affairs, held by him, be temporarily assigned to Goyal, in addition to his existing portfolios.

Goyal will retain his existing portfolios of coal and railways.

Goyal, Minister of Railways, will have these portfolios in addition to his existing ones, it added.

Jaitley will be designated as ‘Minister without portfolio’ during the period of his indisposition or till such time he is able to resume his work as Minister of Finance and Minister of Corporate Affairs, the statement said.

Arun Jaitley is currently in the US.

(With inputs from agencies)

Railway Minister Piyush Goyal has been given additional charge of Ministries of Finance and Corporate Affairs, the portfolios held by Arun Jaitley. According to a Rashtrapati Bhavan communique, the President, as advised by Prime Minister Narendra Modi, directed that during the period of Jaitley's indisposition, the portfolios of the Minister of Finance and the Minister of Corporate Affairs, held by him, be temporarily assigned to Goyal, in addition to his existing portfolios.

Railway Minister Piyush Goyal has been given additional charge of Ministries of Finance and Corporate Affairs, the portfolios held by Arun Jaitley. According to a Rashtrapati Bhavan communique, the President, as advised by Prime Minister Narendra Modi, directed that during the period of Jaitley's indisposition, the portfolios of the Minister of Finance and the Minister of Corporate Affairs, held by him, be temporarily assigned to Goyal, in addition to his existing portfolios. Goyal will retain his existing portfolios of coal and railways. Goyal, Minister of Railways, will have these portfolios in addition to his existing ones, it added. Jaitley will be designated as ‘Minister without portfolio’ during the period of his indisposition or till such time he is able to resume his work as Minister of Finance and Minister of Corporate Affairs, the statement said. Arun Jaitley is currently in the US. (With inputs from agencies)

Railway Minister Piyush Goyal given additional charge of Finance Ministry as Jaitley gets medical treatment

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

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

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

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

Finance Minister <a href="http://www.wionews.com/india-news/jaitley-hints-interim-budget-could-be-bigger-than-vote-on-account-191153">Arun Jaitley on Friday</a> dismissed a news report of price escalation in the Rafale deal by Prime Minister Narendra Modi-led government and said it was based on "fudged arithmetic".

Taking to micro-blogging site Twitter, Jaitley asserted that the Supreme Court has examined the prices of the fighter aircraft and that the CAG too is examining the same.

"The new article on Rafale is based on fudged arithmetic - ignore the escalation of the 2007 non-deal offer and compare it with the 2016 price and invent a scam," he tweeted.

"The Supreme Court has examined the prices. The CAG is examining the same. The fudged arithmetic of a compulsive contrarian can hardly be objective. Fudged arithmetics does not add to the credibility of its creator, " he added.

The Defence Ministry also dismissed media reports suggesting that advancements sought by the union government shot the price of a Rafale planes by 41 per cent as "factually inaccurate".

"The article is factually inaccurate. It does not adduce any new arguments. All the issues have been answered in detail by the Government at various fora and most recently by the Raksha Mantri in an open debate in the Parliament," a Defence Ministry spokesperson said.

The spokesperson said the India Specific Enhancements (ISE) were part of the requirements of the Indian Air Force to achieve tactical superiority over our adversaries.

The Central government signed a deal for 36 Rafale combat aircraft in September 2016 for over Rs 60,000 crore.

The government has stated in Parliament that the procurement was done to meet the emergency requirement of the Indian Air Force as the number of combat aircraft squadrons is dwindling.&nbsp;

Finance Minister Arun Jaitley on Friday dismissed a news report of price escalation in the Rafale deal by Prime Minister Narendra Modi-led government and said it was based on "fudged arithmetic".

Finance Minister Arun Jaitley on Friday dismissed a news report of price escalation in the Rafale deal by Prime Minister Narendra Modi-led government and said it was based on "fudged arithmetic". Taking to micro-blogging site Twitter, Jaitley asserted that the Supreme Court has examined the prices of the fighter aircraft and that the CAG too is examining the same. "The new article on Rafale is based on fudged arithmetic - ignore the escalation of the 2007 non-deal offer and compare it with the 2016 price and invent a scam," he tweeted. "The Supreme Court has examined the prices. The CAG is examining the same. The fudged arithmetic of a compulsive contrarian can hardly be objective. Fudged arithmetics does not add to the credibility of its creator, " he added. The Defence Ministry also dismissed media reports suggesting that advancements sought by the union government shot the price of a Rafale planes by 41 per cent as "factually inaccurate". "The article is factually inaccurate. It does not adduce any new arguments. All the issues have been answered in detail by the Government at various fora and most recently by the Raksha Mantri in an open debate in the Parliament," a Defence Ministry spokesperson said. The spokesperson said the India Specific Enhancements (ISE) were part of the requirements of the Indian Air Force to achieve tactical superiority over our adversaries. The Central government signed a deal for 36 Rafale combat aircraft in September 2016 for over Rs 60,000 crore. The government has stated in Parliament that the procurement was done to meet the emergency requirement of the Indian Air Force as the number of combat aircraft squadrons is dwindling.

It is based on fudged arithmetic: Jaitley dismisses report of Rafale price escalation

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

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

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

Jaitley hints interim budget could be bigger than vote on account

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

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

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

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

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

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

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

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

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

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

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

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

<a href="http://www.wionews.com/entertainment/cuba-defends-controversial-arts-decree-but-seeks-consensus-on-norms-182401">Cuba</a>'s government admitted on Friday that it won't be able to pay all its debt commitments in 2019, blaming Hurricane Irma and the United States sanctions for its woes.

"In 2019, we'll have less credit than the amount of debt we're planning to pay," said finance minister Alejandro Gil during a parliamentary session.

"There will be a level of debt that we won't be able to pay next year and this will affect the performance of the economy."

"There is a high level of debt in the economy that creates daily tensions."

"We've been looking for specific solutions but it's affecting the harmonious performance of the economy."

Gil insisted that Cuba's new loans would be marginally lower than the existing debts it will pay off, meaning that "we won't be increasing our level of debt."

Cuba recently defaulted on a part of its debt with Brazil and is behind in reimbursing another portion related to the construction of a port and purchase of food.

Havana blames these delays on the effects of Hurricane Irma, which made landfall in early September 2017, and a hardening US embargo that hinders its international financial transactions.

Cuba's government has said the economy grew by 1.2 per cent in 2018.

Cuba's government admitted on Friday that it won't be able to pay all its debt commitments in 2019, blaming Hurricane Irma and the United States sanctions for its woes.

Cuba's government admitted on Friday that it won't be able to pay all its debt commitments in 2019, blaming Hurricane Irma and the United States sanctions for its woes. "In 2019, we'll have less credit than the amount of debt we're planning to pay," said finance minister Alejandro Gil during a parliamentary session. "There will be a level of debt that we won't be able to pay next year and this will affect the performance of the economy." "There is a high level of debt in the economy that creates daily tensions." "We've been looking for specific solutions but it's affecting the harmonious performance of the economy." Gil insisted that Cuba's new loans would be marginally lower than the existing debts it will pay off, meaning that "we won't be increasing our level of debt." Cuba recently defaulted on a part of its debt with Brazil and is behind in reimbursing another portion related to the construction of a port and purchase of food. Havana blames these delays on the effects of Hurricane Irma, which made landfall in early September 2017, and a hardening US embargo that hinders its international financial transactions. Cuba's government has said the economy grew by 1.2 per cent in 2018.

Cuba says unable to pay off debt commitments in 2019

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