Days before&nbsp;presenting the Union Budget, the NDA government on Thursday held a pre-budget session in Delhi.

Union Finance Minister Arun Jaitley chaired the meeting with Finance Ministers of all states and Union Territories.

Suggestions relating to Union Budget were presented from different state ministers in the meeting.

The Budget session will begin on January 29 and the budget will be presented on February 1.&nbsp;

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Delhi: Union Finance Minister Arun Jaitley chairs Pre-Budget meeting with Finance Ministers of all states and Union Territories. <a href="https://t.co/ymrSsB8ONF">pic.twitter.com/ymrSsB8ONF</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/953854436241108993?ref_src=twsrc%5Etfw">January 18, 2018</a></blockquote>
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In the pre-budget meeting, the finance minister will hear the state ministers from the Union Budget

Days before presenting the Union Budget, the NDA government on Thursday held a pre-budget session in Delhi. Union Finance Minister Arun Jaitley chaired the meeting with Finance Ministers of all states and Union Territories. Suggestions relating to Union Budget were presented from different state ministers in the meeting. The Budget session will begin on January 29 and the budget will be presented on February 1. Delhi: Union Finance Minister Arun Jaitley chairs Pre-Budget meeting with Finance Ministers of all states and Union Territories. pic.twitter.com/ymrSsB8ONF — ANI (@ANI) January 18, 2018 ×

Arun Jaitley chairs pre-budget meeting in Delhi

<a href="http://www.wionews.com/india-news/governments-hard-approach-in-kashmir-not-working-chidambaram-tweets-bjp-calls-him-pakistani-poodle-28799" target="_blank">Government&#39;s &#39;hard&#39; approach in Kashmir not working, Chidambaram tweets; BJP calls him &#39;Pakistani poodle&#39;</a>

Former union home minister P Chidambaram posted a total of nine tweets on Kashmir on Sunday -- the gist of his argument being that the government&#39;s &quot;hard, militaristic&quot; approach in the state was not working. &quot;From time to time we are rudely reminded that there is an issue concerning the state of Jammu &amp; Kashmir,&quot; he said.&nbsp;

<a href="http://www.wionews.com/india-news/up-loudspeakers-in-religious-places-to-be-removed-28794" target="_blank">UP: Loudspeakers in religious places to be removed</a>

The Uttar Pradesh police was on Sunday directed to remove all loudspeakers present in public places, religious and otherwise, that have been installed without appropriate permission being sanctioned towards the same, in a bid to curb noise pollution caused by these.The order was issued following directions from the Lucknow bench of the Allahabad High Court on the matter, citing the provisions of the Noise Pollution (Regulation and Control) Rules, 2000.

<a href="http://www.wionews.com/india-news/government-open-to-proposals-to-further-clean-up-political-funding-jaitley-28779">Government open to proposals to further clean up political funding: Jaitley</a>

The electoral bonds mechanism is a substantial improvement in transparency over the present system and the government is open to suggestions to further cleanse political funding, Finance Minister Arun Jaitley said today. In a Facebook post, Jaitley said the conventional practice of funding the political system was to take donations as well as undertake expenditures in cash.

<a href="http://www.wionews.com/india-news/bengal-man-arrested-for-allegedly-stalking-sachin-tendulkars-daughter-28780">Bengal man arrested for allegedly stalking Sachin Tendulkar&#39;s daughter</a>

A 32-year-old man has been arrested in West Bengal for allegedly stalking Sachin Tendulkar&#39;s daughter Sara. News reports said Sunday that the man got hold of the Tendulkars&#39; landline number and made around 20 calls to it. In the calls, he passed lewd comments about Sara and even threatened to kidnap her. The reports identified the arrested man as Debkumar Maity, who is allegedly a college dropout.

<a href="http://www.wionews.com/cricket/heel-injury-restricts-dale-steyn-from-bowling-in-first-test-likely-to-miss-series-28801" target="_blank">Heel injury restricts Dale Steyn from bowling in first test, likely to miss series</a>

In a major setback for South Africa, Dale Steyn will not bowl for his team in the remaining first Test match and is likely to miss the remaining series against India also, due to the heel injury he suffered.&nbsp;However, he can bat for his team if required. The right-arm pacer had injured his left heel on the second day of the first test match at Newlands, Cape Town.

Government's 'hard' approach in Kashmir not working, Chidambaram tweets; BJP calls him 'Pakistani poodle' Former union home minister P Chidambaram posted a total of nine tweets on Kashmir on Sunday -- the gist of his argument being that the government's "hard, militaristic" approach in the state was not working. "From time to time we are rudely reminded that there is an issue concerning the state of Jammu & Kashmir," he said. UP: Loudspeakers in religious places to be removed The Uttar Pradesh police was on Sunday directed to remove all loudspeakers present in public places, religious and otherwise, that have been installed without appropriate permission being sanctioned towards the same, in a bid to curb noise pollution caused by these.The order was issued following directions from the Lucknow bench of the Allahabad High Court on the matter, citing the provisions of the Noise Pollution (Regulation and Control) Rules, 2000. Government open to proposals to further clean up political funding: Jaitley The electoral bonds mechanism is a substantial improvement in transparency over the present system and the government is open to suggestions to further cleanse political funding, Finance Minister Arun Jaitley said today. In a Facebook post, Jaitley said the conventional practice of funding the political system was to take donations as well as undertake expenditures in cash. Bengal man arrested for allegedly stalking Sachin Tendulkar's daughter A 32-year-old man has been arrested in West Bengal for allegedly stalking Sachin Tendulkar's daughter Sara. News reports said Sunday that the man got hold of the Tendulkars' landline number and made around 20 calls to it. In the calls, he passed lewd comments about Sara and even threatened to kidnap her. The reports identified the arrested man as Debkumar Maity, who is allegedly a college dropout. Heel injury restricts Dale Steyn from bowling in first test, likely to miss series In a major setback for South Africa, Dale Steyn will not bowl for his team in the remaining first Test match and is likely to miss the remaining series against India also, due to the heel injury he suffered. However, he can bat for his team if required. The right-arm pacer had injured his left heel on the second day of the first test match at Newlands, Cape Town.

WION Evening News Brief, January 7, 2018

The Union Budget <a href="http://www.wionews.com/india-news/union-budget-to-be-presented-on-february-1-28623">set to be announced on February 1</a> is set to include special measures to strengthen women&#39;s safety.

The Railway Ministry is likely to announce 2018 as &quot;Railway Women&#39;s Safety Year&quot;.

The Railways intends to strengthen women&#39;s safety during train journey with a number of steps, sources said.

The budget is likely to have a detailed plan on women&#39;s safety, steps include installation of CCTV cameras in ladies coach especially in suburban rail service.

The budget is also likely to announce increasing the number of washrooms to at least two at each platform for women.

Finance minister Jaitley may also announce deployment of RPF women constables in ladies coach and in long routes

The budget is also likely to allocate&nbsp;of funds for women safety in Railways from Nirbhaya Women Safety Fund which is of Rs 1,000 crore.

The Budget Session of Parliament will commence from January 29th.&nbsp;President Ramnath Kovind will address the joint sitting of the two Houses on January 29 and the Economic Survey will be tabled on the same day.

The first phase of the session will be from January 29 to February 9.&nbsp;

The budget is likely to have a detailed plan on women's safety, steps include installation of CCTV cameras in ladies coach especially in suburban rail service.

The Union Budget set to be announced on February 1 is set to include special measures to strengthen women's safety. The Railway Ministry is likely to announce 2018 as "Railway Women's Safety Year". The Railways intends to strengthen women's safety during train journey with a number of steps, sources said. The budget is likely to have a detailed plan on women's safety, steps include installation of CCTV cameras in ladies coach especially in suburban rail service. The budget is also likely to announce increasing the number of washrooms to at least two at each platform for women. Finance minister Jaitley may also announce deployment of RPF women constables in ladies coach and in long routes The budget is also likely to allocate of funds for women safety in Railways from Nirbhaya Women Safety Fund which is of Rs 1,000 crore. The Budget Session of Parliament will commence from January 29th. President Ramnath Kovind will address the joint sitting of the two Houses on January 29 and the Economic Survey will be tabled on the same day. The first phase of the session will be from January 29 to February 9.

Budget likely to announce several features to strengthen women's safety in Railways

The tourism industry has appealed t<a href="http://www.wionews.com/business-economy/budget-likely-to-announce-several-features-to-strengthen-womens-safety-in-railways-28627">o the Indian government to ensure</a> safety and corruption-free environment including improvement in facilities.

Sources say that at a recent meet with the tourism minister Alphons and other government officials, the tourism industry has demanded improvement and addition of basic amenities like proper washroom at popular tourist destinations.

The tourism industry has also demanded&nbsp;better guidance in help desk and information counters including multiple language guides.

According to the World Travel and Tourism Council(WTTC), India&#39;s travel and tourism sector ranks seventh in the world in terms of contribution to the country&#39;s GDP.

Government sources said the tourism ministry has demanded the budgetary allocation be doubled. The ministry expects finance minister Jaitley to increase budgetary allocation to Rs 3,000 crore.

Interestingly, this time tourism Industry is keen for domestic tourism and specifically railway-connected tourism.

Tour operators have presented few ideas like opening gates for domestic tourists by providing reasonable fares for popular luxury tourist trains like Maharaja and Palace on Wheels.

In 2016, the tourism industry created over 40 million jobs in India accounting for 9.3 per cent of country&#39;s total jobs.

In its report, the WTTC said India&#39;s figures were predominantly generated by domestic travel, which accounts for 88% of the sector&#39;s contribution to GDP in 2016.

The tourism industry has also demanded?better guidance in help desk and information counters including multiple language guides.

The tourism industry has appealed to the Indian government to ensure safety and corruption-free environment including improvement in facilities. Sources say that at a recent meet with the tourism minister Alphons and other government officials, the tourism industry has demanded improvement and addition of basic amenities like proper washroom at popular tourist destinations. The tourism industry has also demanded better guidance in help desk and information counters including multiple language guides. According to the World Travel and Tourism Council(WTTC), India's travel and tourism sector ranks seventh in the world in terms of contribution to the country's GDP. Government sources said the tourism ministry has demanded the budgetary allocation be doubled. The ministry expects finance minister Jaitley to increase budgetary allocation to Rs 3,000 crore. Interestingly, this time tourism Industry is keen for domestic tourism and specifically railway-connected tourism. Tour operators have presented few ideas like opening gates for domestic tourists by providing reasonable fares for popular luxury tourist trains like Maharaja and Palace on Wheels. In 2016, the tourism industry created over 40 million jobs in India accounting for 9.3 per cent of country's total jobs. In its report, the WTTC said India's figures were predominantly generated by domestic travel, which accounts for 88% of the sector's contribution to GDP in 2016.

Budget exclusive: Tourism ministry expects Rs 3,000 crore allocation

In a move aimed at electoral reforms, finance&nbsp;minister Arun Jaitley today announced guidelines for electoral bonds for funding of political parties.

The finance minister said the electoral bonds would be available in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh and Rs 1 crore.

&quot;Interest-free bonds for donation to political parties can&nbsp;be purchased from SBI for 10 days in the months of January, April, July and October,&quot; Jaitley said.

The finance minister in his budget last year had announced the introduction of &quot;electoral bonds&quot; aimed at improving transparency in funding of political parties.

The bonds can only be issued by a notified bank and can be bought using cheques or digital payment, negating the prevalence of hawala money.

All political parties are required to inform the Election Commission about the bonds and from where it would be accessed.

The finance minister in his budget last year had announced the introduction of "electoral bonds" aimed at improving transparency in funding of political parties.

In a move aimed at electoral reforms, finance minister Arun Jaitley today announced guidelines for electoral bonds for funding of political parties. The finance minister said the electoral bonds would be available in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh and Rs 1 crore. "Interest-free bonds for donation to political parties can be purchased from SBI for 10 days in the months of January, April, July and October," Jaitley said. The finance minister in his budget last year had announced the introduction of "electoral bonds" aimed at improving transparency in funding of political parties. The bonds can only be issued by a notified bank and can be bought using cheques or digital payment, negating the prevalence of hawala money. All political parties are required to inform the Election Commission about the bonds and from where it would be accessed.

Finance minister Jaitley announces guidelines for electoral bonds

BJP-led governments in <a href="http://www.wionews.com/business-economy/government-cuts-excise-duty-on-petrol-and-diesel-by-two-rupees-20969">Gujarat and Maharashtra today slashed value added tax</a> (VAT) prices on petrol and diesel.

The Gujarat <a href="http://www.wionews.com/south-asia/india-petrol-price-hiked-by-rs-139-per-litre-diesel-up-by-rs-104-14552">government decided to reduce VAT on petrol </a>and diesel by 4 per cent.

&quot;After the central government&#39;s instructions, Gujarat has decided to reduce VAT on petrol and diesel by 4 per cent from today mid-night,&quot; chief minister Rupani told reporters at a press meet.

After the reduction in VAT, the price of petrol is set to come down by Rs 2.93 and diesel by Rs 2.72 in the state.

&quot;We have taken this decision in the interest of people,&quot; chief minister Rupani said.

Gujarat will be going to polls in December.

Soon after the announcement by the BJP government in Gujarat, CM Fadnavis-led BJP government in Maharashtra too slashed VAT prices on petrol and diesel.&nbsp;

Maharashtra swiftly reduced VAT on prices of petrol and diesel by Rs 2 and Re 1 respectively, effective midnight tonight.&nbsp;

After the new rates come into effect, petrol will cost Rs 75.58 per litre and diesel will cost Rs 59.55 in the state.&nbsp;

The government had last month brought down excise duty on petrol and diesel by Rs 2 per litre.

Last week finance minister Arun Jaitley had written to all state governments requesting them to reduce taxes on petrol and diesel.

The Gujarat government decided to reduce VAT on petrol and diesel by 4 per cent.

BJP-led governments in Gujarat and Maharashtra today slashed value added tax (VAT) prices on petrol and diesel. The Gujarat government decided to reduce VAT on petrol and diesel by 4 per cent. "After the central government's instructions, Gujarat has decided to reduce VAT on petrol and diesel by 4 per cent from today mid-night," chief minister Rupani told reporters at a press meet. After the reduction in VAT, the price of petrol is set to come down by Rs 2.93 and diesel by Rs 2.72 in the state. "We have taken this decision in the interest of people," chief minister Rupani said. Gujarat will be going to polls in December. Soon after the announcement by the BJP government in Gujarat, CM Fadnavis-led BJP government in Maharashtra too slashed VAT prices on petrol and diesel. Maharashtra swiftly reduced VAT on prices of petrol and diesel by Rs 2 and Re 1 respectively, effective midnight tonight. After the new rates come into effect, petrol will cost Rs 75.58 per litre and diesel will cost Rs 59.55 in the state. The government had last month brought down excise duty on petrol and diesel by Rs 2 per litre. Last week finance minister Arun Jaitley had written to all state governments requesting them to reduce taxes on petrol and diesel.

Gujarat, Maharashtra reduce VAT on petrol, diesel

The government on Tuesday cut excise duty on&nbsp;petrol&nbsp;and&nbsp;diesel&nbsp;by two rupees a litre to protect retail consumers from higher global crude oil prices.

The cut in the&nbsp;petrol&nbsp;and&nbsp;diesel&nbsp;duties will cost $1.99 billion&nbsp;over the next six months, the finance ministry said in a message on Twitter.

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Govt of India has reduced Basic Excise Duty rate on Petrol &amp; Diesel [both branded and unbranded] by Rs. 2 per litre w.e.f. 4th October,2017
&mdash; Ministry of Finance (@FinMinIndia) <a href="https://twitter.com/FinMinIndia/status/915210543073337344?ref_src=twsrc%5Etfw">October 3, 2017</a></blockquote>
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This has been done to cushion the impact of rising international prices of crude petroleum oil &amp; petrol &amp; diesel on their Retail Sale Prices
&mdash; Ministry of Finance (@FinMinIndia) <a href="https://twitter.com/FinMinIndia/status/915211567708307461?ref_src=twsrc%5Etfw">October 3, 2017</a></blockquote>
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Revenue loss on a/c of these reductions in excise duty is about Rs.26,000 crore in full year&amp; Rs13,000 crore in remaining part of Current FY
&mdash; Ministry of Finance (@FinMinIndia) <a href="https://twitter.com/FinMinIndia/status/915212894001807360?ref_src=twsrc%5Etfw">October 3, 2017</a></blockquote>
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This decision has also been taken by the Government of India in order to protect the interest of common man.
&mdash; Ministry of Finance (@FinMinIndia) <a href="https://twitter.com/FinMinIndia/status/915213013090578432?ref_src=twsrc%5Etfw">October 3, 2017</a></blockquote>
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Since August 1, retail prices for&nbsp;petrol&nbsp;have gone up 8.4 per cent and&nbsp;diesel&nbsp;by 6.4 per cent in New Delhi.

&quot;The cut in excise duty has modestly increased the likelihood of fiscal slippage this year,&quot; Aditi Nayar, an economist at ICRA, the India arm of credit rating agency Moody&#39;s told Reuters.

Petrol Price

&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Earlier | Now

Delhi -&nbsp; &nbsp;70.81&nbsp; |&nbsp; 68.81

Mumbai - 79.92 |&nbsp; 77.92

Kolkata - 73.55&nbsp; | 71.55

Chennai - 73.41 | 71.41

Bengaluru - 71.95 | 69.95

*All price in Rs/Ltr

Diesel &nbsp;Price

&nbsp; &nbsp; &nbsp;&nbsp;Earlier | Now

Delhi - 59.08 | 57.08

Mumbai - 62.76 | 60.76

Kolkata - 61.74 | 59.74

Chennai - 62.23 | 60.23

Bengaluru - 59.22 | 57.22

The government on Tuesday cut excise duty on?petrol?and?diesel?by two rupees a litre to protect retail consumers from higher global crude oil prices

The government on Tuesday cut excise duty on petrol and diesel by two rupees a litre to protect retail consumers from higher global crude oil prices. The cut in the petrol and diesel duties will cost $1.99 billion over the next six months, the finance ministry said in a message on Twitter. Govt of India has reduced Basic Excise Duty rate on Petrol & Diesel [both branded and unbranded] by Rs. 2 per litre w.e.f. 4th October,2017 — Ministry of Finance (@FinMinIndia) October 3, 2017 × This has been done to cushion the impact of rising international prices of crude petroleum oil & petrol & diesel on their Retail Sale Prices — Ministry of Finance (@FinMinIndia) October 3, 2017 × Revenue loss on a/c of these reductions in excise duty is about Rs.26,000 crore in full year& Rs13,000 crore in remaining part of Current FY — Ministry of Finance (@FinMinIndia) October 3, 2017 × This decision has also been taken by the Government of India in order to protect the interest of common man. — Ministry of Finance (@FinMinIndia) October 3, 2017 × Since August 1, retail prices for petrol have gone up 8.4 per cent and diesel by 6.4 per cent in New Delhi. "The cut in excise duty has modestly increased the likelihood of fiscal slippage this year," Aditi Nayar, an economist at ICRA, the India arm of credit rating agency Moody's told Reuters. Petrol Price Earlier | Now Delhi - 70.81 | 68.81 Mumbai - 79.92 | 77.92 Kolkata - 73.55 | 71.55 Chennai - 73.41 | 71.41 Bengaluru - 71.95 | 69.95 *All price in Rs/Ltr Diesel Price Earlier | Now Delhi - 59.08 | 57.08 Mumbai - 62.76 | 60.76 Kolkata - 61.74 | 59.74 Chennai - 62.23 | 60.23 Bengaluru - 59.22 | 57.22

Government cuts excise duty on petrol, diesel by Rs 2

The Opposition in Rajya Sabha today candidly asked finance minister Arun Jaitley to clarify whether the government has decided to scrap the newly launched Rs 2,000 note and introduce a Rs 1,000 coin but India&#39;s finance minister refused to clarify.

Samajwadi member Naresh Agrawal asked a direct question to the government in the Rajya Sabha:&nbsp;&quot;The government <a href="http://www.wionews.com/south-asia/demonetisation-swipe-card-at-petrol-pump-get-up-to-rs-2000-cash-8968">has taken a decision to scrap Rs 2,000 note</a>. The RBI has been given order not to print the Rs 2,000 notes. ...if any policy decision been taken during the Parliament Session, the tradition is to announce it in the House.&quot;

Deputy chairman P J Kurien interjected, saying &quot;that is RBI&#39;s action.&quot;

Naresh Agrawal added: &quot;So far, the RBI has printed 3.2 lakh crore pieces of Rs 2,000 notes and now it has stopped printing... RBI cannot bully. One note ban has been done, the second one is being planned. Let the finance minister say...,&quot; he said.

To this Agrawal replied: &quot;The RBI board had opposed it but the government took the decision. The <a href="http://www.wionews.com/south-asia/demonetisation-govt-tightens-notes-exchange-norms-lowers-limit-to-rs-2000-8946">earlier decision of </a><a href="http://www.wionews.com/south-asia/demonetisation-govt-tightens-notes-exchange-norms-lowers-limit-to-rs-2000-8946">demonetisation</a><a href="http://www.wionews.com/south-asia/demonetisation-govt-tightens-notes-exchange-norms-lowers-limit-to-rs-2000-8946">&nbsp;was taken by the government</a>, the second one is also from the government.&quot;&nbsp;

Leader of Opposition Ghulam Nabi Azad too sought clarification from the government on whether it was planning to introduce Rs 1,000 coins.

&quot;Every day we read about a coin of 1,000, 100 and 200. What is the actual status? Are we to go by what media is writing? The House is to be enlightened by the finance minister. What is the truth,&quot; he asked.

&quot;Are we going to have coin of Rs 1,000. To carry coins, we have to purchase a bag? We must know. Our sisters have the purse. We shall also have to buy purse just to carry the coins of Rs 1,000 (denomination),&quot; he added.

DMK member Tiruchi Siva too sought clarification from the government on the issue but the treasury bench stayed mum on the issue.

JD(U) leader Sharad Yadav said the issue was serious &quot;as the rumours are strong&quot;. &quot;The government should clarify and stop the rumours or else people will start returning Rs 2,000 notes.&quot;

The government, however, has decided to play it safe.

Samajwadi member Naresh Agrawal and Leader of Opposition Ghulam Nabi Azad asked the government to clarify on the 2,000 notes issue

The Opposition in Rajya Sabha today candidly asked finance minister Arun Jaitley to clarify whether the government has decided to scrap the newly launched Rs 2,000 note and introduce a Rs 1,000 coin but India's finance minister refused to clarify. Samajwadi member Naresh Agrawal asked a direct question to the government in the Rajya Sabha: "The government has taken a decision to scrap Rs 2,000 note. The RBI has been given order not to print the Rs 2,000 notes. ...if any policy decision been taken during the Parliament Session, the tradition is to announce it in the House." Deputy chairman P J Kurien interjected, saying "that is RBI's action." Naresh Agrawal added: "So far, the RBI has printed 3.2 lakh crore pieces of Rs 2,000 notes and now it has stopped printing... RBI cannot bully. One note ban has been done, the second one is being planned. Let the finance minister say...," he said. To this Agrawal replied: "The RBI board had opposed it but the government took the decision. The earlier decision of demonetisation was taken by the government, the second one is also from the government." Leader of Opposition Ghulam Nabi Azad too sought clarification from the government on whether it was planning to introduce Rs 1,000 coins. "Every day we read about a coin of 1,000, 100 and 200. What is the actual status? Are we to go by what media is writing? The House is to be enlightened by the finance minister. What is the truth," he asked. "Are we going to have coin of Rs 1,000. To carry coins, we have to purchase a bag? We must know. Our sisters have the purse. We shall also have to buy purse just to carry the coins of Rs 1,000 (denomination)," he added. DMK member Tiruchi Siva too sought clarification from the government on the issue but the treasury bench stayed mum on the issue. JD(U) leader Sharad Yadav said the issue was serious "as the rumours are strong". "The government should clarify and stop the rumours or else people will start returning Rs 2,000 notes." The government, however, has decided to play it safe.

RBI to stop printing Rs 2,000 notes? Jaitley refuses to clarify

Several factors including the global situation were responsible for decline in GDP growth to 6.1 per cent in the fourth quarter of 2016-17, finance minister Arun Jaitley said today, dismissing suggestions that it was on account of demonetisation.

The minister further said some slowdown was visible even prior to demonetisation of Rs 500/1000 currency notes announced by the government on November 8 last year.

<a href="http://www.wionews.com/business-economy/indias-annual-growth-slows-to-71-slower-than-chinas-first-quarter-growth-16285">Also Read: India&#39;s annual growth slows to 7.1%, slower than China&#39;s first quarter growth</a>

&quot;Seven-eight per cent growth is fairly reasonable level of growth and very good by global standard and reasonable by Indian standard,&quot; Jaitley said while addressing media on completion of three years of the Modi government.

According to GDP data released yesterday, growth rate slipped to 6.1 per cent in the January-March quarter and 7.1 per cent, the lowest in the three years, during 2016-17.

Referring to the challenges, he said the major ones include resolving the issue of bad loans in the banking sector and encouraging private sector investment.

(PTI)

Jaitley said some slowdown was visible even prior to demonetisation of Rs 500/1000 currency notes

Several factors including the global situation were responsible for decline in GDP growth to 6.1 per cent in the fourth quarter of 2016-17, finance minister Arun Jaitley said today, dismissing suggestions that it was on account of demonetisation. The minister further said some slowdown was visible even prior to demonetisation of Rs 500/1000 currency notes announced by the government on November 8 last year. Also Read: India's annual growth slows to 7.1%, slower than China's first quarter growth "Seven-eight per cent growth is fairly reasonable level of growth and very good by global standard and reasonable by Indian standard," Jaitley said while addressing media on completion of three years of the Modi government. According to GDP data released yesterday, growth rate slipped to 6.1 per cent in the January-March quarter and 7.1 per cent, the lowest in the three years, during 2016-17. Referring to the challenges, he said the major ones include resolving the issue of bad loans in the banking sector and encouraging private sector investment. (PTI)

Finance minister Arun Jaitley defends India's GDP growth

India has finalised four tax rates that will apply to services including telecoms, insurance, hotels and restaurants under the new Goods and Services Tax (GST) which should be rolled out on July 1, Finance Minister Arun Jaitley said on Friday.

The tax rates for services will be 5, 12, 18 and 28 percent - in line with those applying to goods.

Telecoms and financial services will be taxed at a standard rate of 18 percent while transport services will be taxed at 5 percent, Jaitley said.

&quot;The net effect of Goods and Services Tax will not be inflationary,&quot; Jaitley told reporters after a meeting of the GST Council in Srinagar, summer capital of Jammu and Kashmir state.

The council, comprising federal and state finance ministers, fixed rates on Thursday for more than 1,200 items under the GST, amid demands by some states to keep essential items under the lower tax category.

The new tax is likely to be non-inflationary as the government has kept a majority of food items, with a combined weighting of nearly 50 percent in the consumer price index, out of the tax net.

Basic food items like cereals, eggs and meat will attract zero tax while processed food items will be charged between 12 and 28 percent.&nbsp;

The long-awaited Goods and Services Tax has been hailed as India&#39;s biggest tax overhaul since independence in 1947. It will replace a slew of federal and state levies, transforming Asia&#39;s third largest economy into a single market.

&quot;GST regime will usher in lower taxes, seamless input tax credit, logistics savings and market share swings from unorganised to organised players,&quot; said Aditya Narain, Research head at Edelweiss Securities Ltd.&nbsp;

Prime Minister Narendra Modi, who completes three years of his term this month, had said the new tax will not cause price rises, while aiming to bring down tax leakages in the complex tax system.

(Reuters)

India's finance minister said the new rates should be implemented from July 1

India has finalised four tax rates that will apply to services including telecoms, insurance, hotels and restaurants under the new Goods and Services Tax (GST) which should be rolled out on July 1, Finance Minister Arun Jaitley said on Friday. The tax rates for services will be 5, 12, 18 and 28 percent - in line with those applying to goods. Telecoms and financial services will be taxed at a standard rate of 18 percent while transport services will be taxed at 5 percent, Jaitley said. "The net effect of Goods and Services Tax will not be inflationary," Jaitley told reporters after a meeting of the GST Council in Srinagar, summer capital of Jammu and Kashmir state. The council, comprising federal and state finance ministers, fixed rates on Thursday for more than 1,200 items under the GST, amid demands by some states to keep essential items under the lower tax category. The new tax is likely to be non-inflationary as the government has kept a majority of food items, with a combined weighting of nearly 50 percent in the consumer price index, out of the tax net. Basic food items like cereals, eggs and meat will attract zero tax while processed food items will be charged between 12 and 28 percent. The long-awaited Goods and Services Tax has been hailed as India's biggest tax overhaul since independence in 1947. It will replace a slew of federal and state levies, transforming Asia's third largest economy into a single market. "GST regime will usher in lower taxes, seamless input tax credit, logistics savings and market share swings from unorganised to organised players," said Aditya Narain, Research head at Edelweiss Securities Ltd. Prime Minister Narendra Modi, who completes three years of his term this month, had said the new tax will not cause price rises, while aiming to bring down tax leakages in the complex tax system. (Reuters)

India finalises four GST rates

The government cannot require&nbsp;citizens to have an Aadhaar card&nbsp;to benefit from government welfare schemes, the Supreme Court said Monday.

A bench comprising Chief Justice J S Khehar and Justices D Y Chandrachud and S K Kaul, however, said that government and its agencies cannot be stopped from seeking Aadhaar identification cards for non-welfare schemes like opening of bank accounts or tax returns.

This comes as the government announced that the 12-digit card will be required for almost 36 central schemes, including: free mid-day meals for school children, scholarships, various other schemes for backward castes and the differently-abled, as well as subsidies for cooking gas and food grains, <a href="http://www.ndtv.com/india-news/aadhaar-cant-be-mandatory-for-governments-welfare-schemes-supreme-court-1673835?pfrom=home-lateststories" target="_blank">NDTV </a>reports.

The bench also said that a seven-judge bench needed to be constituted for authoritatively deciding a batch of petitions challenging the Aadhaar scheme on grounds including that it infringes on the Right to Privacy of citizens. However, it expressed inability in setting up of the seven-judge bench saying it would be decided at a later stage.

Senior advocate Shyam Divan, appearing for one of the petitioners, alleged that the Central government is not following the various orders passed by the apex court that the usage of Aadhaar would be voluntary and not mandatory.

The apex court on August 11, 2015 had said that Aadhaar card will not be mandatory for availing benefits of government&#39;s welfare schemes and barred the authorities from sharing personal biometric data collected for enrolment under the scheme.

However, on October 15, 2015 it had lifted its earlier restriction and permitted the voluntary use of Aadhaar cards in welfare schemes that also included MGNREGA, all pension schemes and the provident fund besides ambitious flagship programmes like &#39;Pradhan Mantri Jan Dhan Yojna&#39; of the NDA government.

A five-judge bench headed by the then Chief Justice HL Dattu had also put a caveat in its interim order for the Centre and said, &quot;We also make it clear that Aadhaar card scheme is purely voluntary and not mandatory till the matter is finally decided by this court, this way or the other way.&quot;

The bench, while including the four other schemes along with LPG and PDS where Aadhaar may be used, had said, &quot;The Union of India to follow all other orders passed by this court since September 23, 2013&quot;.

The bench had also said that a larger bench was required to be set up for the final disposal of the petitions that also include the question as to whether the right to privacy is a fundamental right.

Divan, representing one of the petitioners who has challenged the Aadhaar card scheme, had claimed that the Unique Identification Authority of India (UIDAI), which runs the programme, is neither backed by any law nor by any notification and is getting biometric details through private agencies.

The lawyers for the petitioners had contended that the scheme is &quot;all pervasive&quot; and is not full proof either and hence, cannot be used for other programmes.

On October 14, 2015, the apex court took note of Centre&#39;s plea that Aadhaar cards be allowed to be used &quot;voluntarily&quot; for welfare programmes other than PDS and LPG schemes and asked whether it can assure that nobody would be at a &quot;disadvantageous&quot; position for want of Aadhaar.&nbsp;

Government snooping into people&#39;s lives with Aaadhaar: Opposition

Meanwhile, Congress leader Kapil Sibal alleged the government was trying to &quot;snoop&quot; into the lives of people by making Aadhaar compulsory for filing tax returns. 
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<h5>Congress leader Kapil Sibal alleged the government was trying to &quot;snoop&quot; into the lives of people by making Aadhaar compulsory for filing tax returns.</h5>
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&nbsp;

Sibal said the people in the BJP-led government may have &quot;the experience in snooping&quot; and added that this also showed BJP&#39;s &quot;double talk&quot;.

Last week Finance Minister Arun Jaitley said that Aadhaar may become the only card used in the future, replacing the PAN card and all other forms of ID, the <a href="http://economictimes.indiatimes.com/news/economy/policy/aadhaar-may-become-the-only-card-in-future-arun-jaitley/articleshow/57773255.cms" target="_blank">Economic Times of India</a> reports.

When <a href="http://www.huffingtonpost.in/2017/03/23/yes-we-are-was-arun-jaitleys-reply-in-parliament-when-asked_a_21978066/" target="_blank">asked </a>in Parliament if the government was forcing the Aadhaar card on citizens, Jaitley responded, &quot;Yes we are&quot;.

(WION with inputs from PTI)

But it added that the government cannot be stopped from linking bank accounts or tax returns to Aadhar ID numbers

The government cannot require citizens to have an Aadhaar card to benefit from government welfare schemes, the Supreme Court said Monday. A bench comprising Chief Justice J S Khehar and Justices D Y Chandrachud and S K Kaul, however, said that government and its agencies cannot be stopped from seeking Aadhaar identification cards for non-welfare schemes like opening of bank accounts or tax returns. This comes as the government announced that the 12-digit card will be required for almost 36 central schemes, including: free mid-day meals for school children, scholarships, various other schemes for backward castes and the differently-abled, as well as subsidies for cooking gas and food grains, NDTV reports. The bench also said that a seven-judge bench needed to be constituted for authoritatively deciding a batch of petitions challenging the Aadhaar scheme on grounds including that it infringes on the Right to Privacy of citizens. However, it expressed inability in setting up of the seven-judge bench saying it would be decided at a later stage. Senior advocate Shyam Divan, appearing for one of the petitioners, alleged that the Central government is not following the various orders passed by the apex court that the usage of Aadhaar would be voluntary and not mandatory. The apex court on August 11, 2015 had said that Aadhaar card will not be mandatory for availing benefits of government's welfare schemes and barred the authorities from sharing personal biometric data collected for enrolment under the scheme. However, on October 15, 2015 it had lifted its earlier restriction and permitted the voluntary use of Aadhaar cards in welfare schemes that also included MGNREGA, all pension schemes and the provident fund besides ambitious flagship programmes like 'Pradhan Mantri Jan Dhan Yojna' of the NDA government. A five-judge bench headed by the then Chief Justice HL Dattu had also put a caveat in its interim order for the Centre and said, "We also make it clear that Aadhaar card scheme is purely voluntary and not mandatory till the matter is finally decided by this court, this way or the other way." The bench, while including the four other schemes along with LPG and PDS where Aadhaar may be used, had said, "The Union of India to follow all other orders passed by this court since September 23, 2013". The bench had also said that a larger bench was required to be set up for the final disposal of the petitions that also include the question as to whether the right to privacy is a fundamental right. Divan, representing one of the petitioners who has challenged the Aadhaar card scheme, had claimed that the Unique Identification Authority of India (UIDAI), which runs the programme, is neither backed by any law nor by any notification and is getting biometric details through private agencies. The lawyers for the petitioners had contended that the scheme is "all pervasive" and is not full proof either and hence, cannot be used for other programmes. On October 14, 2015, the apex court took note of Centre's plea that Aadhaar cards be allowed to be used "voluntarily" for welfare programmes other than PDS and LPG schemes and asked whether it can assure that nobody would be at a "disadvantageous" position for want of Aadhaar. Government snooping into people's lives with Aaadhaar: Opposition Meanwhile, Congress leader Kapil Sibal alleged the government was trying to "snoop" into the lives of people by making Aadhaar compulsory for filing tax returns. Congress leader Kapil Sibal alleged the government was trying to "snoop" into the lives of people by making Aadhaar compulsory for filing tax returns. × Sibal said the people in the BJP-led government may have "the experience in snooping" and added that this also showed BJP's "double talk". Last week Finance Minister Arun Jaitley said that Aadhaar may become the only card used in the future, replacing the PAN card and all other forms of ID, the Economic Times of India reports. When asked in Parliament if the government was forcing the Aadhaar card on citizens, Jaitley responded, "Yes we are". (WION with inputs from PTI)

Aadhaar cannot be made mandatory for govt welfare schemes: Supreme Court

The Congress has approached the Supreme Court to stop Manohar Parrikar from being the next chief minister of India&#39;s western Goa state.

The party, which emerged as the single largest party in the assembly elections in the state, claimed&nbsp;they had&nbsp;the first right to form the government having&nbsp;won more legislative seats than the BJP.

The top court will hear the petition at 11 am today (March 14). 
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Appealed SC that Parrikar&#39;s appt as Goa CM be quashed,SC admitted petition will be heard at 11am tomorrow: Sunil Kawthankar, Goa Cong Spox <a href="https://t.co/smo77ZcLoQ">pic.twitter.com/smo77ZcLoQ</a>
&mdash; ANI (@ANI_news) <a href="https://twitter.com/ANI_news/status/841321718178304000">March 13, 2017</a></blockquote>
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&nbsp;

The BJP yesterday (March 13) said it had the support of 21 MLAs, the exact number needed to prove majority in the 40-member House.

The party&nbsp;had managed to win 13 of the 40 legislative seats, falling eight seats from securing a majority and winning four seats less than the Congress&#39;s 17.

But the BJP&nbsp;forged alliances with&nbsp;Goa Forward Party (GFP) and the Maharashtrawadi Gomantak Party (MGP) --&nbsp;both won three seats each -- and the support of two independent candidates to outmanouvre Congress to reach the majority number.

Congress, which was the single-largest party with 17 seats but short of staking their claim to form the government, has cried hoarse about BJP&#39;s move, accusing them of &quot;murdering&quot; democracy. 
 
The Congress, which until yesterday had failed to muster the numbers, today (March 13) said it has the requisite support of the legislators. 
 
The party&nbsp;on Monday&nbsp;urged Goa Governor Mridula Sinha to invite the Congress to form the next government by virtue of being the single largest party.

In a memorandum submitted to the Governor on Monday night, the Congress Legislature Party (CLP) claimed to have the requisite support and that they can prove the same on the floor of the House.

&quot;Any invitation to the BJP to form the government at this stage without first giving an opportunity to the single largest party (Congress) would mitigate against the essential democratic rights of the people of the state who have chosen the Congress as the single largest party in the state,&quot; the memorandum said.

&quot;Despite losing the mandate of the people, our political opponents (BJP) have tried to misrepresent to your good-self that they enjoy the majority support of legislators. This is not only opportunism at its lowest but is also not constitutionally permissible,&quot; Goa CLP Leader Chandrakant Kavlekar stated in the memorandum. 
 
The development comes a day ahead of swearing-in of BJP leader Manohar Parrikar as Chief Minister.&nbsp;

Parrikar, who was India&#39;s defence minister met the Governor on Sunday and staked his claim to form the government. He was appointed chief minister by the Governor the same day.

He has rushed to Goa for his swearing-in ceremony.

India&#39;s finance minister has been given the additional portfolio of defence ministry as the hitherto incumbent has been asked by Indian Prime Minister Narendra Modi&#39;s BJP to helm Goa.

A statement from the Rashtrapati Bhavan -- the official of the President of India -- confirmed the development.

&quot;The President of India, as advised by the Prime Minister, has accepted the resignation of Shri (Mr) Manohar Parrikar, from the Council of Ministers, with immediate effect, under clause (2) of Article 75 of the Constitution. Further, as advised by the Prime Minister, the President has directed that Shri Arun Jaitely, Cabinet Minister, shall be assigned the charge of the Ministry of Defence, in addition to his existing portfolios,&rdquo; the press release stated.

&ldquo;I have tendered my resignation as defence minister and sent it to the Prime Minister&rsquo;s Office (PMO)&rdquo; Parrikar&nbsp;told PTI.The swearing-in ceremony will take place tomorrow evening (March 14) as the Bharatiya Janata Party, or BJP, managed to cobble up an alliance with regional outfits to stake their claim.

For Arun Jaitley, this is the second time he has taken over the defence ministry. He was the defence minister from May 26 to November 9, shortly after Modi swept to power in 2014.

Goa Governor Mridul Sinha, meanwhile, has given Parrikar 15 days&#39; time to confirm coalition support.

&quot;Governor Mridula Sinha has appointed Manohar Parrikar, the Leader of the Goa BJP legislature party, as the chief minister of Goa,&quot; Rupesh Kumar Thakur, Secretary to Governor stated in a press note issued on Sunday night.

(WION with inputs from PTI)

The party claimed?they had?the first right to form the government in Goa having?won more legislative seats than the BJP

The Congress has approached the Supreme Court to stop Manohar Parrikar from being the next chief minister of India's western Goa state. The party, which emerged as the single largest party in the assembly elections in the state, claimed they had the first right to form the government having won more legislative seats than the BJP. The top court will hear the petition at 11 am today (March 14). Appealed SC that Parrikar's appt as Goa CM be quashed,SC admitted petition will be heard at 11am tomorrow: Sunil Kawthankar, Goa Cong Spox pic.twitter.com/smo77ZcLoQ — ANI (@ANI_news) March 13, 2017 × The BJP yesterday (March 13) said it had the support of 21 MLAs, the exact number needed to prove majority in the 40-member House. The party had managed to win 13 of the 40 legislative seats, falling eight seats from securing a majority and winning four seats less than the Congress's 17. But the BJP forged alliances with Goa Forward Party (GFP) and the Maharashtrawadi Gomantak Party (MGP) -- both won three seats each -- and the support of two independent candidates to outmanouvre Congress to reach the majority number. Congress, which was the single-largest party with 17 seats but short of staking their claim to form the government, has cried hoarse about BJP's move, accusing them of "murdering" democracy. The Congress, which until yesterday had failed to muster the numbers, today (March 13) said it has the requisite support of the legislators. The party on Monday urged Goa Governor Mridula Sinha to invite the Congress to form the next government by virtue of being the single largest party. In a memorandum submitted to the Governor on Monday night, the Congress Legislature Party (CLP) claimed to have the requisite support and that they can prove the same on the floor of the House. "Any invitation to the BJP to form the government at this stage without first giving an opportunity to the single largest party (Congress) would mitigate against the essential democratic rights of the people of the state who have chosen the Congress as the single largest party in the state," the memorandum said. "Despite losing the mandate of the people, our political opponents (BJP) have tried to misrepresent to your good-self that they enjoy the majority support of legislators. This is not only opportunism at its lowest but is also not constitutionally permissible," Goa CLP Leader Chandrakant Kavlekar stated in the memorandum. The development comes a day ahead of swearing-in of BJP leader Manohar Parrikar as Chief Minister. Parrikar, who was India's defence minister met the Governor on Sunday and staked his claim to form the government. He was appointed chief minister by the Governor the same day. He has rushed to Goa for his swearing-in ceremony. India's finance minister has been given the additional portfolio of defence ministry as the hitherto incumbent has been asked by Indian Prime Minister Narendra Modi's BJP to helm Goa. A statement from the Rashtrapati Bhavan -- the official of the President of India -- confirmed the development. "The President of India, as advised by the Prime Minister, has accepted the resignation of Shri (Mr) Manohar Parrikar, from the Council of Ministers, with immediate effect, under clause (2) of Article 75 of the Constitution. Further, as advised by the Prime Minister, the President has directed that Shri Arun Jaitely, Cabinet Minister, shall be assigned the charge of the Ministry of Defence, in addition to his existing portfolios,” the press release stated. “I have tendered my resignation as defence minister and sent it to the Prime Minister’s Office (PMO)” Parrikar told PTI.The swearing-in ceremony will take place tomorrow evening (March 14) as the Bharatiya Janata Party, or BJP, managed to cobble up an alliance with regional outfits to stake their claim. For Arun Jaitley, this is the second time he has taken over the defence ministry. He was the defence minister from May 26 to November 9, shortly after Modi swept to power in 2014. Goa Governor Mridul Sinha, meanwhile, has given Parrikar 15 days' time to confirm coalition support. "Governor Mridula Sinha has appointed Manohar Parrikar, the Leader of the Goa BJP legislature party, as the chief minister of Goa," Rupesh Kumar Thakur, Secretary to Governor stated in a press note issued on Sunday night. (WION with inputs from PTI)

India: Supreme Court to hear Congress petition against BJP govt formation in Goa

The Speaker of Lok Sabha,&nbsp;Sumitra Mahajan started the proceedings with an obituary reference to former union minister and MP E. Ahamed who passed away today.

Finance minister Arun Jaitley has begun his budget speech:

Inflation in double-digit has been controlled

We have started a war on black money

According to the IMF, India will be one of the fastest growing economies in 2017-18

Pressure&nbsp;on protectionism is going up: Impact on exports

We have moved from a discretionary administration to a policy-based administration

Fiscal deficit has declined

Demonetisation&nbsp;has been a bold move, it will have long-term benefits. The pace of remonetisation has picked up

Growth will pick up in 2017.

There is early evidence of bank loans at lower rates

Current account deficit has declined, the govt will spend more on poor

Transform, energise and clean India

Government&#39;s&nbsp;Agenda:

Will double farmers&#39; income in 5 years

Focus will be on more jobs for the youth

Target for agriculture credit set for 2017-18 set at 10 lakh crore

Government has done away with planned and non-planned expenditure for states

Demonetisation&nbsp;will not spill over to next year

Government promises to bring 1 crore households out of poverty

Dairy processing&nbsp;infrastructure fund to be created.

Rural road targets to be increased, 138 km roads to be built per day

48,000 crore allocated to MNREGA, &quot;this is the biggest ever allocation for MNREGA&quot;

EDUCATION

Emphasis on science and local innovation

Reform of UGC

Leverage IT technology to help students

350 online courses with top faculty

Quality education will energise the youth

Single authority for exam entrance

100 skill centres across India

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Women &amp; Children

Mahila shakti Kendra to be set up

Higher investment in affordable housing

National Housing Bank will refinance loans

Government&nbsp;initiatives

Reform of Labour laws&nbsp;

Will reduce cost of life-saving drugs

5 special tourism zones to be set-up

Railways

1 lakh thirty-one thousand crore&nbsp;expenditure in 2017-18

Passenger safety, cleanliness, finance and accounting to be the key

Rail Sanraksha fund to be set up

Redevelopment of stations

Shares of IRCTC to be listed

&nbsp;

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&nbsp;

Transformative steps:

Service charge on e-tickets withdrawn

7,000 stations to get solar power

Other Policies

New Metro rail policy to be announced which will open up job opportunity.

Airports in tier-2 cities to be revamped

Bio-toilets to be set up.

FDI

Abolition of FIPB&nbsp;(Foreign Investment Promotion Board)

New FDI policy under consideration

Disinvestment policy to continue

Promotion of Digital Economy

&#39;India at the cusp of digital economy&#39;

Bheem app launched will help in transforming the digital economy

Cash back scheme and referral scheme to be launched to push digital economy

Aadhar to push digital transformation. Aadhar enabled payment scheme to be launched.

&quot;Govt considering new law to confiscate assets of economic offenders&quot;

Increase in capital&nbsp;expenditure by 25.4 per cent

Fiscal Deficit pegged at 3.2 per cent of GDP

Tax Proposals

India tax to GDP ratio is very low

Only 24 lakh showed income over 10 lakhs

&#39;Burden of taxes falls on just a few&#39;

Committed to making&nbsp;tax rates reasonable.

Only 1.74 crore people filing taxes in India

Bring transparency in poll funding.

34.8 per cent increase in income tax declaration

&quot;We are a non-tax compliant society&quot;

Changes in capital gains on sale of property

Relaxation of tax norms on unoccupied property

Income tax exception to startups increased

Tax exception for land pooling

Income tax for small&nbsp;companies reduced, MSME sector to get a boost

Holding period for realty sales now to be&nbsp;2 years

No cash&nbsp;transaction over 3 lakhs

Tax on income upto 5 lakhs cut by 5 per cent

Surcharge on those earning more than 1 crore to continue

No tax upto 3 lakh rupees

10% surcharge on income between 50 lakhs to 1 crore.

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Poll funding

Political funding reduced to Rs 2,000 per head

Political parties can get payment through cheques or digital payments

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Exclusive:

Political Reactions:

Union Budget: Congress leader Rahul Gandhi speaks on Budget 2017

 
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Union Budget 2017: Exclusive conversation with senior Congress leader Ahmed Patel&nbsp;

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Union Budget 2017: Exclusive conversation with Vijay Shekhar Sharma, Founder PayTM

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Union Budget 2017: Exclusive conversation with Dr. Naushad Forbes, President CII

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Jaitley has presented the budget in India's lower house of Parliament

The Speaker of Lok Sabha, Sumitra Mahajan started the proceedings with an obituary reference to former union minister and MP E. Ahamed who passed away today. Finance minister Arun Jaitley has begun his budget speech: Inflation in double-digit has been controlled We have started a war on black money According to the IMF, India will be one of the fastest growing economies in 2017-18 Pressure on protectionism is going up: Impact on exports We have moved from a discretionary administration to a policy-based administration Fiscal deficit has declined Demonetisation has been a bold move, it will have long-term benefits. The pace of remonetisation has picked up Growth will pick up in 2017. There is early evidence of bank loans at lower rates Current account deficit has declined, the govt will spend more on poor Transform, energise and clean India Government's Agenda: Will double farmers' income in 5 years Focus will be on more jobs for the youth Target for agriculture credit set for 2017-18 set at 10 lakh crore Government has done away with planned and non-planned expenditure for states Demonetisation will not spill over to next year Government promises to bring 1 crore households out of poverty Dairy processing infrastructure fund to be created. Rural road targets to be increased, 138 km roads to be built per day 48,000 crore allocated to MNREGA, "this is the biggest ever allocation for MNREGA" EDUCATION Emphasis on science and local innovation Reform of UGC Leverage IT technology to help students 350 online courses with top faculty Quality education will energise the youth Single authority for exam entrance 100 skill centres across India Women & Children Mahila shakti Kendra to be set up Higher investment in affordable housing National Housing Bank will refinance loans Government initiatives Reform of Labour laws Will reduce cost of life-saving drugs 5 special tourism zones to be set-up Railways 1 lakh thirty-one thousand crore expenditure in 2017-18 Passenger safety, cleanliness, finance and accounting to be the key Rail Sanraksha fund to be set up Redevelopment of stations Shares of IRCTC to be listed Transformative steps: Service charge on e-tickets withdrawn 7,000 stations to get solar power Other Policies New Metro rail policy to be announced which will open up job opportunity. Airports in tier-2 cities to be revamped Bio-toilets to be set up. FDI Abolition of FIPB (Foreign Investment Promotion Board) New FDI policy under consideration Disinvestment policy to continue Promotion of Digital Economy 'India at the cusp of digital economy' Bheem app launched will help in transforming the digital economy Cash back scheme and referral scheme to be launched to push digital economy Aadhar to push digital transformation. Aadhar enabled payment scheme to be launched. "Govt considering new law to confiscate assets of economic offenders" Increase in capital expenditure by 25.4 per cent Fiscal Deficit pegged at 3.2 per cent of GDP Tax Proposals India tax to GDP ratio is very low Only 24 lakh showed income over 10 lakhs 'Burden of taxes falls on just a few' Committed to making tax rates reasonable. Only 1.74 crore people filing taxes in India Bring transparency in poll funding. 34.8 per cent increase in income tax declaration "We are a non-tax compliant society" Changes in capital gains on sale of property Relaxation of tax norms on unoccupied property Income tax exception to startups increased Tax exception for land pooling Income tax for small companies reduced, MSME sector to get a boost Holding period for realty sales now to be 2 years No cash transaction over 3 lakhs Tax on income upto 5 lakhs cut by 5 per cent Surcharge on those earning more than 1 crore to continue No tax upto 3 lakh rupees 10% surcharge on income between 50 lakhs to 1 crore. Poll funding Political funding reduced to Rs 2,000 per head Political parties can get payment through cheques or digital payments Exclusive: Political Reactions: Union Budget: Congress leader Rahul Gandhi speaks on Budget 2017 Union Budget 2017: Exclusive conversation with senior Congress leader Ahmed Patel Exclusive Corporate Reactions Union Budget 2017: Exclusive conversation with Vijay Shekhar Sharma, Founder PayTM Union Budget 2017: Exclusive conversation with Dr. Naushad Forbes, President CII

India Budget 2017: No cash?transaction over 3 lakhs, govt considering new law to confiscate assets of economic offenders

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