Prime Minister Narendra Modi and French President Emmanuel Macron&nbsp;were bestowed with United Nation’s highest environmental honour, ‘Champions of the Earth’.&nbsp;

The two leaders were recognised in the policy leadership category for their pioneering work in championing the International Solar Alliance and promoting new areas of levels of cooperation on environmental action, including Macron's work on the Global Pact for the environment and Modi's unprecedented pledge to eliminate all single-use plastic in India by 2022.&nbsp;

Among the other recipient of the awards was the Cochin International Airport, which received the award in the Entrepreneurial Vision category.

The airport was hailed for its, "leadership in the use of sustainable energy".

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PM Narendra Modi and French President Macron get UN’s highest environmental honour, ‘Champions of the Earth’. They are recognised in the policy leadership category. <a href="https://t.co/OhP8jrPW8z">pic.twitter.com/OhP8jrPW8z</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1045000004677513216?ref_src=twsrc%5Etfw">September 26, 2018</a></blockquote>
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&nbsp;

Prime Minister Narendra Modi and French President Emmanuel Macron were bestowed with United Nation’s highest environmental honour, ‘Champions of the Earth’. The two leaders were recognised in the policy leadership category for their pioneering work in championing the International Solar Alliance and promoting new areas of levels of cooperation on environmental action, including Macron's work on the Global Pact for the environment and Modi's unprecedented pledge to eliminate all single-use plastic in India by 2022.

Prime Minister Narendra Modi and French President Emmanuel Macron were bestowed with United Nation’s highest environmental honour, ‘Champions of the Earth’. The two leaders were recognised in the policy leadership category for their pioneering work in championing the International Solar Alliance and promoting new areas of levels of cooperation on environmental action, including Macron's work on the Global Pact for the environment and Modi's unprecedented pledge to eliminate all single-use plastic in India by 2022. Among the other recipient of the awards was the Cochin International Airport, which received the award in the Entrepreneurial Vision category. The airport was hailed for its, "leadership in the use of sustainable energy". PM Narendra Modi and French President Macron get UN’s highest environmental honour, ‘Champions of the Earth’. They are recognised in the policy leadership category. pic.twitter.com/OhP8jrPW8z — ANI (@ANI) September 26, 2018 ×

PM Modi, French President Macron awarded ‘Champions of the Earth’ by UN 

Congress social media chief Divya Spandana has been reportedly booked under sedition charges for allegedly posting an "insulting" tweet against Prime Minister Narendra Modi, news agency PTI reported on Wednesday.

According to media reports, Divya Spandana posted a photoshopped picture of&nbsp;PM Modi&nbsp;showing him painting “chor” (thief) on his own wax statue’s forehead. She also reportedly used “ChorPMChupHai”.

A case was registered on Tuesday at the Gomtinagar Police Station here, PTI reported.&nbsp;

"An FIR was registered against Divya Spandana under the Information Technology Act and the relevant sections of the IPC," news agency PTI quoted Gomtinagar SHO DP Tiwari as saying.

The FIR was lodged on a complaint by lawyer Syed Rizvan Ahmed, who alleged that Spandana had tweeted an "utterly insulting" post against the prime minister, he said.

In the complaint, Ahmed alleged that the post had the potential to "instigate hatred" against Modi.

On Wednesday, Spandana took to Twitter to say that “India should do away with its sedition law, it's archaic and misused”.

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Thank you guys for extending your support and for those who didn’t like the tweet, well, what can I say? Will keep it ‘classy’ next time 😊 
India should do away with the sedition law, it’s archaic and misused. 
To the folks who filed the FIR- <a href="https://twitter.com/hashtag/PMChorHai?src=hash&amp;ref_src=twsrc%5Etfw">#PMChorHai</a> 🤭😀
— Divya Spandana/Ramya (@divyaspandana) <a href="https://twitter.com/divyaspandana/status/1044982008236183552?ref_src=twsrc%5Etfw">September 26, 2018</a></blockquote>
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So far no official statement has been issued by Congress reacting to the FIR.

&nbsp;

Congress social media chief Divya Spandana has been reportedly booked under sedition charges for allegedly posting an "insulting" tweet against Prime Minister Narendra Modi, news agency PTI reported on Wednesday.

Congress social media chief Divya Spandana has been reportedly booked under sedition charges for allegedly posting an "insulting" tweet against Prime Minister Narendra Modi, news agency PTI reported on Wednesday. According to media reports, Divya Spandana posted a photoshopped picture of PM Modi showing him painting “chor” (thief) on his own wax statue’s forehead. She also reportedly used “ChorPMChupHai”. A case was registered on Tuesday at the Gomtinagar Police Station here, PTI reported. "An FIR was registered against Divya Spandana under the Information Technology Act and the relevant sections of the IPC," news agency PTI quoted Gomtinagar SHO DP Tiwari as saying. The FIR was lodged on a complaint by lawyer Syed Rizvan Ahmed, who alleged that Spandana had tweeted an "utterly insulting" post against the prime minister, he said. In the complaint, Ahmed alleged that the post had the potential to "instigate hatred" against Modi. On Wednesday, Spandana took to Twitter to say that “India should do away with its sedition law, it's archaic and misused”. Thank you guys for extending your support and for those who didn’t like the tweet, well, what can I say? Will keep it ‘classy’ next time 😊 India should do away with the sedition law, it’s archaic and misused. To the folks who filed the FIR- #PMChorHai 🤭😀 — Divya Spandana/Ramya (@divyaspandana) September 26, 2018 × So far no official statement has been issued by Congress reacting to the FIR.

Congress social media chief Divya Spandana booked for insulting PM Modi in tweet

Prime Minister Narendra Modi on Tuesday accused the Opposition of indulging in mud-slinging at it finds it easier than debating on issues.&nbsp;

''Opposition indulging in mud-slinging because it finds it easier than debating on issues like development,'' Prime Minister Narendra Modi said on Tuesday in an apparent reference to allegations on Rafale deal.&nbsp;

Speaking at a rally in Bhopal, &nbsp;Modi also targetted the grand alliance.&nbsp;

'Maha gatbandhan' (grand alliance) has been formed due to&nbsp;fear of losing elections, Modi said and added Congress not ready to introspect why it has been reduced to 44 seats in Lok Sabha because of its arrogance, Modi said.&nbsp;

Vote-bank politics has caused immense damage to the country in 70 years after Independence. Even in the Islamic nations across the world, Triple Talaq is not accepted. But here due to vote-bank politics, the party that is led by a woman is not worried about my Muslim sisters who are victims of Triple Talaq, he said&nbsp;and added ''Our government believes in social justice''.&nbsp;

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Such is the condition of the more than 100 years old party that they are seeking certificates of much smaller parties. Had they done some introspection in the last four years then such a situation would not have arisen : PM Narendra Modi addressing party workers in Bhopal <a href="https://t.co/XWvIaLW4UV">pic.twitter.com/XWvIaLW4UV</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1044520261448544257?ref_src=twsrc%5Etfw">September 25, 2018</a></blockquote>
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&nbsp;

Prime Minister Narendra Modi on Tuesday accused the Opposition of indulging in mud-slinging at it finds it easier than debating on issues. ''Opposition indulging in mud-slinging because it finds it easier than debating on issues like development,'' Prime Minister Narendra Modi said on Tuesday in an apparent reference to allegations on Rafale deal.

Prime Minister Narendra Modi on Tuesday accused the Opposition of indulging in mud-slinging at it finds it easier than debating on issues. ''Opposition indulging in mud-slinging because it finds it easier than debating on issues like development,'' Prime Minister Narendra Modi said on Tuesday in an apparent reference to allegations on Rafale deal. Speaking at a rally in Bhopal, Modi also targetted the grand alliance. 'Maha gatbandhan' (grand alliance) has been formed due to fear of losing elections, Modi said and added Congress not ready to introspect why it has been reduced to 44 seats in Lok Sabha because of its arrogance, Modi said. Vote-bank politics has caused immense damage to the country in 70 years after Independence. Even in the Islamic nations across the world, Triple Talaq is not accepted. But here due to vote-bank politics, the party that is led by a woman is not worried about my Muslim sisters who are victims of Triple Talaq, he said and added ''Our government believes in social justice''. Such is the condition of the more than 100 years old party that they are seeking certificates of much smaller parties. Had they done some introspection in the last four years then such a situation would not have arisen : PM Narendra Modi addressing party workers in Bhopal pic.twitter.com/XWvIaLW4UV — ANI (@ANI) September 25, 2018 ×

Opposition indulging in mud-slinging as it's easier: PM Modi 

There were sufficient hints in recent months and so nobody can claim surprise over the Union Budget 2018-19 offerings. The Gujarat Assembly election result had demonstrated that rural voters were upset with the Bharatiya Janata Party. The BJP had fared less well than it had expected in village local body elections in some States.&nbsp;

&nbsp;

Prime Minister Narendra Modi had admitted in his recent interviews that rural distress was a reality which his government had to soon address. Community-specific agitations that had occurred in rural parts of the country were seen as a manifestation of ground-level discontent among the people, though they were couched in quota-demand terms. All in all, an agri-rural crisis had shaped up, and it threatened to thwart the Bharatiya Janata Party&rsquo;s march of electoral victories. The government had to do something, and there would not have been another big occasion for it, but this last full Budget of the regime&rsquo;s current term.

&nbsp;

Can it be said that Union Minister for Finance Arun Jaitley has addressed those concerns effectively? The last word will be said only by the end of the coming fiscal year when the impact of the measures he has announced will be known. Needless to emphasise, implementation holds the key. But until then, we have to depend on what has been promised in the Budget. And here, there is no doubt that the government has taken to heart the electoral lessons it has learned over the past few months, and has sought to take corrective measures.

&nbsp;

Performers, generally, like to reserve their best for the middle or the end of their act. But Jaitley&rsquo;s big-bang announcements came right in the beginning &mdash; in the first 45 minutes or so when he was at his freshest. He seemed to relish those moments when he let loose a slew of schemes to address the rural distress and provide health coverage to the very needy (many of whom reside in villages or semi-rural regions of the country).&nbsp;

&nbsp;

Indeed, in the later parts of his speech when he began to list proposals for the corporate sector, Jaitley appeared to do so rather perfunctorily. It was clear from his tone and from the impressions gathered by attentive listeners that this Budget was primarily about the rural poor and the agrarian sector.

&nbsp;

Implicit in this emphasis was the realisation that enough had been done and was being done for corporate India. More importantly, the government had correctly understood that a boost to rural India would have a far greater multiplier effect on the national economy than sops in the shape of tax concessions etc to the industry.&nbsp;

&nbsp;

Given that the rural sector employs close to 85 per cent of the country&rsquo;s total workforce, it makes sense to empower that section of the population. If disposable income grows here, it will find its way in the consumer market &mdash; both for perishable and lasting goods. And this, in turn, would boost production in industry and, hopefully, lead to more employment in the organised sector. Conversely, a distressed rural economy can drag down the national growth figures.&nbsp;

&nbsp;

Besides, the political costs of alienating the large mass of rural voters (taken as a bloc, it is overwhelmingly the single largest) is one that no party in its right frame of mind will want to pay. Therefore, it would not be surprising if the BJP now extols the Budget to win the affections of voters in the coming elections in Karnataka, Rajasthan and Madhya Pradesh &mdash; all with huge rural populations &mdash; later this year.

&nbsp;

Even if one concedes that the Union Finance Minister has been driven by necessity in framing a &lsquo;pro-poor/pro-farmer/pro-marginalised&rsquo; Budget, it must also be admitted that he has adopted a wholistic rather than a bits-and-pieces approach. For instance, while he has proposed a hike of at least 1.5 times to the existing minimum support prices for the ensuing Kharif crops, he also appears to understand that a higher MSP alone does not address the grievances. Therefore, he has announced the upgradation of the existing rural haats where small and marginal farmers (86 per cent of the farmers come under this category) can sell their produce at remunerative prices. Jaitley has also proposed a cluster system for the cultivation of horticulture crops to enhance production and marketability.

&nbsp;

But, however, much the government does to improve the production and marketing of traditional crops, it knows that its plans to double farmers&rsquo; income by 2022 is simply unrealisable unless farmers have other means of income. The Finance Minister is, therefore, hoping that his proposal to create a fisheries, aquaculture infrastructure development coupled with the animal husbandry fund (totalling some Rs 10,000 crore), will encourage farmers to adopt these vocations and help double their income.&nbsp;

&nbsp;

The National Bamboo Mission, which gets a fund of Rs 1,290 crore, is expected to be immensely useful in the promotion of bamboo cultivation and connected industries &mdash; mostly in the small scale industry sector &mdash; especially in the North-East.

&nbsp;

There is more that the Finance Minister has unveiled to woo rural India. An institutional mechanism will be established to frame policies and practices for price and demand forecast for agri-produce; Kisan Credit Cards have been extended to fisheries and and animal husbandry farmers; a Rs 2,000 crore fund is proposed to be set up for the development and upgradation of agri-marketing infrastructure; and the agricultural credit disbursal target has been increased, albeit modestly, from Rs 10 lakh crore in the 2017-18 fiscal to Rs 11 lakh crore for 2018-19.

&nbsp;

But let&rsquo;s not forget that rural distress does not only cover agriculture and allied activities. It relates to the lack of infrastructure, healthcare, roads, closer-to-home employment etc. The Finance Minister has offered a roughly Rs 14 lakh fund to enhance rural infrastructure and improve rural livelihood. The activities under this category would include the construction of houses, roads, toilets etc which would build capacities and generate jobs. Buoyed by the success of its Ujjwala scheme for providing free cooking gas connections to the rural poor women, the Minister said the earlier target of reaching five crore homes now stood revised upward at eight crores. It must be recalled that the Ujjwala project was one of the primary factors in the electoral victory of the BJP in the Uttar Pradesh Assembly election.

&nbsp;

This brings us to another fresh, and by all accounts, an unprecedented, measure the Finance Minister has announced and which could turn the tables in favour of the BJP in coming electoral battles: It has been billed as the world&rsquo;s largest government-funded healthcare system. It proposes to cover 10 crore targeted families (or roughly 50 crore people). The scheme ensures five lakh rupees per year to a family for covering its medical costs (hospitalisation etc). This is just a step away from what is generally known as universal health coverage.&nbsp;

&nbsp;

If this ambitious project were to work well, the demand for a universal basic income (which some lawmakers have favoured, and which even last year&rsquo;s Economic Survey of India had mooted), might not have a purpose. After all, the biggest fear of drain on the resources of a poor family is the fear of expensive medical attention. Do we see a ModiCare in the making?

&nbsp;

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)&nbsp;&nbsp;

The government had correctly understood that a boost to rural India would have a far greater multiplier effect on the national economy than sops in the shape of tax concessions etc to the industry.

There were sufficient hints in recent months and so nobody can claim surprise over the Union Budget 2018-19 offerings. The Gujarat Assembly election result had demonstrated that rural voters were upset with the Bharatiya Janata Party. The BJP had fared less well than it had expected in village local body elections in some States. Prime Minister Narendra Modi had admitted in his recent interviews that rural distress was a reality which his government had to soon address. Community-specific agitations that had occurred in rural parts of the country were seen as a manifestation of ground-level discontent among the people, though they were couched in quota-demand terms. All in all, an agri-rural crisis had shaped up, and it threatened to thwart the Bharatiya Janata Party’s march of electoral victories. The government had to do something, and there would not have been another big occasion for it, but this last full Budget of the regime’s current term. Can it be said that Union Minister for Finance Arun Jaitley has addressed those concerns effectively? The last word will be said only by the end of the coming fiscal year when the impact of the measures he has announced will be known. Needless to emphasise, implementation holds the key. But until then, we have to depend on what has been promised in the Budget. And here, there is no doubt that the government has taken to heart the electoral lessons it has learned over the past few months, and has sought to take corrective measures. Performers, generally, like to reserve their best for the middle or the end of their act. But Jaitley’s big-bang announcements came right in the beginning — in the first 45 minutes or so when he was at his freshest. He seemed to relish those moments when he let loose a slew of schemes to address the rural distress and provide health coverage to the very needy (many of whom reside in villages or semi-rural regions of the country). Indeed, in the later parts of his speech when he began to list proposals for the corporate sector, Jaitley appeared to do so rather perfunctorily. It was clear from his tone and from the impressions gathered by attentive listeners that this Budget was primarily about the rural poor and the agrarian sector. Implicit in this emphasis was the realisation that enough had been done and was being done for corporate India. More importantly, the government had correctly understood that a boost to rural India would have a far greater multiplier effect on the national economy than sops in the shape of tax concessions etc to the industry. Given that the rural sector employs close to 85 per cent of the country’s total workforce, it makes sense to empower that section of the population. If disposable income grows here, it will find its way in the consumer market — both for perishable and lasting goods. And this, in turn, would boost production in industry and, hopefully, lead to more employment in the organised sector. Conversely, a distressed rural economy can drag down the national growth figures. Besides, the political costs of alienating the large mass of rural voters (taken as a bloc, it is overwhelmingly the single largest) is one that no party in its right frame of mind will want to pay. Therefore, it would not be surprising if the BJP now extols the Budget to win the affections of voters in the coming elections in Karnataka, Rajasthan and Madhya Pradesh — all with huge rural populations — later this year. Even if one concedes that the Union Finance Minister has been driven by necessity in framing a ‘pro-poor/pro-farmer/pro-marginalised’ Budget, it must also be admitted that he has adopted a wholistic rather than a bits-and-pieces approach. For instance, while he has proposed a hike of at least 1.5 times to the existing minimum support prices for the ensuing Kharif crops, he also appears to understand that a higher MSP alone does not address the grievances. Therefore, he has announced the upgradation of the existing rural haats where small and marginal farmers (86 per cent of the farmers come under this category) can sell their produce at remunerative prices. Jaitley has also proposed a cluster system for the cultivation of horticulture crops to enhance production and marketability. But, however, much the government does to improve the production and marketing of traditional crops, it knows that its plans to double farmers’ income by 2022 is simply unrealisable unless farmers have other means of income. The Finance Minister is, therefore, hoping that his proposal to create a fisheries, aquaculture infrastructure development coupled with the animal husbandry fund (totalling some Rs 10,000 crore), will encourage farmers to adopt these vocations and help double their income. The National Bamboo Mission, which gets a fund of Rs 1,290 crore, is expected to be immensely useful in the promotion of bamboo cultivation and connected industries — mostly in the small scale industry sector — especially in the North-East. There is more that the Finance Minister has unveiled to woo rural India. An institutional mechanism will be established to frame policies and practices for price and demand forecast for agri-produce; Kisan Credit Cards have been extended to fisheries and and animal husbandry farmers; a Rs 2,000 crore fund is proposed to be set up for the development and upgradation of agri-marketing infrastructure; and the agricultural credit disbursal target has been increased, albeit modestly, from Rs 10 lakh crore in the 2017-18 fiscal to Rs 11 lakh crore for 2018-19. But let’s not forget that rural distress does not only cover agriculture and allied activities. It relates to the lack of infrastructure, healthcare, roads, closer-to-home employment etc. The Finance Minister has offered a roughly Rs 14 lakh fund to enhance rural infrastructure and improve rural livelihood. The activities under this category would include the construction of houses, roads, toilets etc which would build capacities and generate jobs. Buoyed by the success of its Ujjwala scheme for providing free cooking gas connections to the rural poor women, the Minister said the earlier target of reaching five crore homes now stood revised upward at eight crores. It must be recalled that the Ujjwala project was one of the primary factors in the electoral victory of the BJP in the Uttar Pradesh Assembly election. This brings us to another fresh, and by all accounts, an unprecedented, measure the Finance Minister has announced and which could turn the tables in favour of the BJP in coming electoral battles: It has been billed as the world’s largest government-funded healthcare system. It proposes to cover 10 crore targeted families (or roughly 50 crore people). The scheme ensures five lakh rupees per year to a family for covering its medical costs (hospitalisation etc). This is just a step away from what is generally known as universal health coverage. If this ambitious project were to work well, the demand for a universal basic income (which some lawmakers have favoured, and which even last year’s Economic Survey of India had mooted), might not have a purpose. After all, the biggest fear of drain on the resources of a poor family is the fear of expensive medical attention. Do we see a ModiCare in the making? (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Opinion: Budget 2018 implies enough had been done for corporate India

For the first time, Indian Union Budget was presented twice, back-to-back! First on the floor of the Parliament by the Finance Minister Arun Jaitley and, again, by the Prime Minister Narendra Modi, off the floor of the House! &nbsp;

&nbsp;

Reason? India is perhaps one of the very few countries where well before the budget is presented it is waited and celebrated like a national festival.&nbsp;

&nbsp;

Such is the hype of the Budget that it becomes a major tool for the ruling party to woo the public in which it sees prospective voters, particularly when elections are around the corner. Budget 2018 of Team Modi-Jaitley is no different as it contains all the elements of reaching out to the public by benefitting them, but without compromising on development and fiscal discipline reforms. &nbsp;

&nbsp;

Agriculture and farmers are the central themes of Budget 2018. Ensuring minimum support price (MSP) of the grains 1.5 times over the agriculture cost is a welcoming step towards de-stressing the cause and concerns of already stressed Indian farmers. But the real challenge will be encountered when it comes to deriving the exact cost incurred by the farmer and implementing the government&rsquo;s guarantee of MSP. So, the real test result of this announcement is a thing of mid to long term. However, in the short-term, BJP can expect a greater support from the farmers in the approaching states assembly and 2019 Lok Sabha elections.&nbsp;

&nbsp;

The salaried class, who are the prospective readers of this piece, will be happy to note a 40K standard deduction in the tax structure. In the absence of 10 per cent slab in the income tax calculation, a major chunk of tax-payers will fall down to 5 per cent tax-slab from their existing 20 per cent slab - a great relief. But at the same time, the existing conveyance allowance and the medical bill reimbursement facilities extended to the salaried employees will be lifted.&nbsp;

&nbsp;

An additional 1 per cent cess will also add up to the increased level of tax liabilities. The revenue loss to the government due to the offering of standard deduction will be to the tune of 8K crore. The government will try to make up this revenue loss from the newly introduced long-term capital gain tax on equity trading.&nbsp;

&nbsp;

The Union budget showed concern for its senior citizens, particularly their health. Senior citizens are now allowed Rs. 50,000 deduction on health insurance premium rather than the existing deduction of Rs. 30,000. It reflects government&rsquo;s vision for a healthier and energetic India.&nbsp;

&nbsp;

In his budget speech while pitching big for health sector Arun Jaitley also announced a flagship health programme. The &lsquo;National Health Protection Scheme&rsquo; on the &lsquo;Ayushman Bharat Programme&rsquo; proposes to cover 10 crore poor and vulnerable families, by making Rs 5 lakh available per family per year for secondary and tertiary care.&nbsp;

&nbsp;

He also announced the development of 1.5 lakh healthcare centres to boost the overall health of the common man. Government&rsquo;s plan to open one medical college for every three Lok Sabha constituency is another welcoming move provided it gets implemented in time and run professionally with well-educated and experienced doctors.&nbsp;

&nbsp;

In totality, the Union Budget of 2018 can be termed as a fine balance between populist majors to woo voters and meeting the developing and job creation agenda of the government. Team Modi-Jaitely has managed it well in balancing populist demands, the need to support economic growth and Prime Minister Narendra Modi&#39;s focus on fiscal discipline and reforms. &nbsp;

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)&nbsp;&nbsp;

&nbsp;

Budget 2018 of Team Modi-Jaitley contains all the elements of reaching out to the public by benefitting them, but without compromising on development and fiscal reforms.

For the first time, Indian Union Budget was presented twice, back-to-back! First on the floor of the Parliament by the Finance Minister Arun Jaitley and, again, by the Prime Minister Narendra Modi, off the floor of the House! Reason? India is perhaps one of the very few countries where well before the budget is presented it is waited and celebrated like a national festival. Such is the hype of the Budget that it becomes a major tool for the ruling party to woo the public in which it sees prospective voters, particularly when elections are around the corner. Budget 2018 of Team Modi-Jaitley is no different as it contains all the elements of reaching out to the public by benefitting them, but without compromising on development and fiscal discipline reforms. Agriculture and farmers are the central themes of Budget 2018. Ensuring minimum support price (MSP) of the grains 1.5 times over the agriculture cost is a welcoming step towards de-stressing the cause and concerns of already stressed Indian farmers. But the real challenge will be encountered when it comes to deriving the exact cost incurred by the farmer and implementing the government’s guarantee of MSP. So, the real test result of this announcement is a thing of mid to long term. However, in the short-term, BJP can expect a greater support from the farmers in the approaching states assembly and 2019 Lok Sabha elections. The salaried class, who are the prospective readers of this piece, will be happy to note a 40K standard deduction in the tax structure. In the absence of 10 per cent slab in the income tax calculation, a major chunk of tax-payers will fall down to 5 per cent tax-slab from their existing 20 per cent slab - a great relief. But at the same time, the existing conveyance allowance and the medical bill reimbursement facilities extended to the salaried employees will be lifted. An additional 1 per cent cess will also add up to the increased level of tax liabilities. The revenue loss to the government due to the offering of standard deduction will be to the tune of 8K crore. The government will try to make up this revenue loss from the newly introduced long-term capital gain tax on equity trading. The Union budget showed concern for its senior citizens, particularly their health. Senior citizens are now allowed Rs. 50,000 deduction on health insurance premium rather than the existing deduction of Rs. 30,000. It reflects government’s vision for a healthier and energetic India. In his budget speech while pitching big for health sector Arun Jaitley also announced a flagship health programme. The ‘National Health Protection Scheme’ on the ‘Ayushman Bharat Programme’ proposes to cover 10 crore poor and vulnerable families, by making Rs 5 lakh available per family per year for secondary and tertiary care. He also announced the development of 1.5 lakh healthcare centres to boost the overall health of the common man. Government’s plan to open one medical college for every three Lok Sabha constituency is another welcoming move provided it gets implemented in time and run professionally with well-educated and experienced doctors. In totality, the Union Budget of 2018 can be termed as a fine balance between populist majors to woo voters and meeting the developing and job creation agenda of the government. Team Modi-Jaitely has managed it well in balancing populist demands, the need to support economic growth and Prime Minister Narendra Modi's focus on fiscal discipline and reforms. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Opinion: Balance between populist demands and economic growth marks Union Budget 2018

Four years back, when Modi government presented its first budget, the common public had a lot of expectations. While the government did try to fulfill their desires, there are more and more hopes from Mr Modi with each subsequent budget. The countrymen are still waiting for a feel-good budget which suits everyone&rsquo;s needs and that too in a situation when the government has extreme financial challenges. Things have not been smooth after the successful implementation of GST and demonetisation.&nbsp;

&nbsp;

Let&rsquo;s analyse the past budgets first. The first thing government had been successful in achieving was the sustained economic growth of 7-8% over the last three fiscals which is considered an achievement keeping in view of the world average of 3.7%. The Finance Minister is hopeful to cross the psychological barrier of 8% very soon. Not only this, the government had been able to achieve a positive and trusted outlook from many rating agencies and, hence, the FDI inflow is good.&nbsp;

&nbsp;

The Budget deficit has been reduced to less than 3.5 % from 4.5% in 2014 and the same is further projected at 3.3% in this budget. The Foreign reserves reached a record 420billion USD which was less than 300 Bn$ when this government took over. It is expected to cross mark of half a trillion in this financial year.&nbsp;

&nbsp;

The inflation rate has been curbed to 3.8% from 9.4% in 2013 and there had been major growth initiatives by the government. Major defence deals have materialised in this time boosting the confidence of the security forces. Terror activities have been given a befitting response and an effective strategy has been developed to curb red extremism in parts of the country.&nbsp;

&nbsp;

So, when Mr Jaitley was presenting the budget today, he surely had a lot of thoughts in mind. Irrespective of the previous industry and economy friendly budgets, this is going to be his last full budget of this tenure of government and keeping in view of the upcoming general elections in 2019, the policies and decisions of the government towards common people will play a vital role. So, the same is reflected in the budget.

&nbsp;

The Budget can truly said to be dedicated to farmers and underprivileged people of this country. Announcements like 14.34 lakh crore for infrastructure in villages, doubling the food processing budget to 1400 Cr, 11 Lakh cr for Krishi Credit, MSP for crops to be 150% of production cost and Launch of initiatives like Operation Green, National Bamboo Mission, establishment of Agri Markets, total tax rebate to companies engaged in agricultural production, 32 Lakh houses, 2 Lakh Cr for Smart Cities, Electricity for all, over 2 Cr new toilets and extending the facilities of farmers to fisheries as well as cattle farmers reflect the priorities of government. &nbsp;

&nbsp;

Health, hygiene and wellness is another populistic concern and establishing over 1.5 Lakh wellness centres and enhancing budgets for health insurance from 30000 to 5 Lakh per family are the key features. The Government is targeting smooth supply of drinking water in over 500 cities with an allocation of over 19428 Cr in this head.&nbsp;

&nbsp;

Few important decisions like establishing new medical colleges among every three parliamentary constituencies, scholarships for technical students and integrated B.Ed. courses are not only boosting the education and employment sector but also likely to help the common people. The universal health coverage is ultimately the target of the government.&nbsp;

&nbsp;

Naxalism is a major problem for the country and targeting the root cause of the same, the Finance Minister has made two major announcements, first, opening of residential schools in tribal areas and second allocating over 32000 Cr for tribal development. This is in addition to over 95764 Cr for Scheduled Castes and Scheduled Tribe welfare funds.&nbsp; This is, indeed, a remarkable measure.&nbsp;

&nbsp;

The government is keeping 3794 cr for development of Small and Medium Enterprises and over 3 Lakh crores as Mudra Loan which is likely to boost self-employment. Skill-based training of over 50 Lakh youth and promise to generate over 70 Lakh jobs every year reflect Mr Modi&rsquo;s priorities. However, the government could not do well on this front in the last four years and there is a serious question about the employment generation part. However, 12% contribution in PF for all new employees for three years will bring a smile to common worker.&nbsp;

&nbsp;

Cleaning of the Ganga is major challenge and allocation of major funds is done for this. Hope we achieve this. Digital India is given 3037 Cr which is less as compared to high hopes put by the government. However, 10000 crores for development of 5 Lakh Wi-Fi spots in villages give some relief.

&nbsp;

Keeping in view of Chinese Aggression, the Defence infrastructure is vital. The government has sanctioned a large number of road, bridges and tunnel projects in the area bordering China and Pakistan, especially in Arunachal Pradesh and Ladakh sector where Chinese threat is imminent.

&nbsp;

The Railways is given special emphasis with an allocation of over 1.48 Lakh Crore for their expansion. This included converting entire railway network into the Broad gauge, expansion and modernisation of the railway, making 700 new engines, 5160 coaches, 12000 wagons every year and training of staff for Bullet train operations.&nbsp;

&nbsp;

Along with the Railways, air transport is given emphasis too. There are plans to increase the airports in the country by 500% which looks like an impossible task. How government plans to make the number of airports from 124 to 620 it is a real tough question.&nbsp;

&nbsp;

Despite many constructive steps he took, Mr Jaitley failed to provide any relief to the salaried person towards tax which was much expected of him. There is a little relief in terms of 40000 standard deductions towards transport and medical reimbursements, however, the tax slabs are still the same. And over and above there is 10% additional tax on income from mutual funds. This will certainly discourage common and small-scale investors.

&nbsp;

So, the finance minister has announced many welfare schemes but from where the government is going to get these funds? Mr Jaitley has already thought of generation of funds for all these activities and, hence, planned to disinvest 14 government companies in this year by which he is planning to generate over 80000 Cr. As per him, there is also a net increase of over 90000Cr in revenue due to crackdown over black money and number of the tax payers have increased by over 19.25 Lakh. Direct tax revenue has increased by 12.6% which will further add to the kitty.&nbsp;

&nbsp;

10% tax on the long-term capital gain, and increase on cess over health and education was essential and can be taken as a sour pill from the government. After all, the government also needs money to spend. Increase in the custom duty will help to strengthen the local industries for whom there are a plethora of announcements. 25% corporate tax for companies up to 250 cr turnover and 25% tax over MSMEs will act as a boost for Indian companies.

&nbsp;

&nbsp;These were the highlights, however, there are major aspects of the budget which needs emphasis. The Defence Budget, including allocation for Defence Production, is not yet clear. The planned economic outlook and emphasis on industrial growth are yet to be ascertained. The common men had been considered well but the country in totality needs to be analysed too. In all aspects, the budget is a populistic one and the projects indicate the seriousness with which the government is approaching Mission 2019.&nbsp;

&nbsp;

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)&nbsp;&nbsp;

In all aspects, the budget is a populistic one and the projects indicate the seriousness with which the government is approaching Mission 2019.

Four years back, when Modi government presented its first budget, the common public had a lot of expectations. While the government did try to fulfill their desires, there are more and more hopes from Mr Modi with each subsequent budget. The countrymen are still waiting for a feel-good budget which suits everyone’s needs and that too in a situation when the government has extreme financial challenges. Things have not been smooth after the successful implementation of GST and demonetisation. Let’s analyse the past budgets first. The first thing government had been successful in achieving was the sustained economic growth of 7-8% over the last three fiscals which is considered an achievement keeping in view of the world average of 3.7%. The Finance Minister is hopeful to cross the psychological barrier of 8% very soon. Not only this, the government had been able to achieve a positive and trusted outlook from many rating agencies and, hence, the FDI inflow is good. The Budget deficit has been reduced to less than 3.5 % from 4.5% in 2014 and the same is further projected at 3.3% in this budget. The Foreign reserves reached a record 420billion USD which was less than 300 Bn$ when this government took over. It is expected to cross mark of half a trillion in this financial year. The inflation rate has been curbed to 3.8% from 9.4% in 2013 and there had been major growth initiatives by the government. Major defence deals have materialised in this time boosting the confidence of the security forces. Terror activities have been given a befitting response and an effective strategy has been developed to curb red extremism in parts of the country. So, when Mr Jaitley was presenting the budget today, he surely had a lot of thoughts in mind. Irrespective of the previous industry and economy friendly budgets, this is going to be his last full budget of this tenure of government and keeping in view of the upcoming general elections in 2019, the policies and decisions of the government towards common people will play a vital role. So, the same is reflected in the budget. The Budget can truly said to be dedicated to farmers and underprivileged people of this country. Announcements like 14.34 lakh crore for infrastructure in villages, doubling the food processing budget to 1400 Cr, 11 Lakh cr for Krishi Credit, MSP for crops to be 150% of production cost and Launch of initiatives like Operation Green, National Bamboo Mission, establishment of Agri Markets, total tax rebate to companies engaged in agricultural production, 32 Lakh houses, 2 Lakh Cr for Smart Cities, Electricity for all, over 2 Cr new toilets and extending the facilities of farmers to fisheries as well as cattle farmers reflect the priorities of government. Health, hygiene and wellness is another populistic concern and establishing over 1.5 Lakh wellness centres and enhancing budgets for health insurance from 30000 to 5 Lakh per family are the key features. The Government is targeting smooth supply of drinking water in over 500 cities with an allocation of over 19428 Cr in this head. Few important decisions like establishing new medical colleges among every three parliamentary constituencies, scholarships for technical students and integrated B.Ed. courses are not only boosting the education and employment sector but also likely to help the common people. The universal health coverage is ultimately the target of the government. Naxalism is a major problem for the country and targeting the root cause of the same, the Finance Minister has made two major announcements, first, opening of residential schools in tribal areas and second allocating over 32000 Cr for tribal development. This is in addition to over 95764 Cr for Scheduled Castes and Scheduled Tribe welfare funds. This is, indeed, a remarkable measure. The government is keeping 3794 cr for development of Small and Medium Enterprises and over 3 Lakh crores as Mudra Loan which is likely to boost self-employment. Skill-based training of over 50 Lakh youth and promise to generate over 70 Lakh jobs every year reflect Mr Modi’s priorities. However, the government could not do well on this front in the last four years and there is a serious question about the employment generation part. However, 12% contribution in PF for all new employees for three years will bring a smile to common worker. Cleaning of the Ganga is major challenge and allocation of major funds is done for this. Hope we achieve this. Digital India is given 3037 Cr which is less as compared to high hopes put by the government. However, 10000 crores for development of 5 Lakh Wi-Fi spots in villages give some relief. Keeping in view of Chinese Aggression, the Defence infrastructure is vital. The government has sanctioned a large number of road, bridges and tunnel projects in the area bordering China and Pakistan, especially in Arunachal Pradesh and Ladakh sector where Chinese threat is imminent. The Railways is given special emphasis with an allocation of over 1.48 Lakh Crore for their expansion. This included converting entire railway network into the Broad gauge, expansion and modernisation of the railway, making 700 new engines, 5160 coaches, 12000 wagons every year and training of staff for Bullet train operations. Along with the Railways, air transport is given emphasis too. There are plans to increase the airports in the country by 500% which looks like an impossible task. How government plans to make the number of airports from 124 to 620 it is a real tough question. Despite many constructive steps he took, Mr Jaitley failed to provide any relief to the salaried person towards tax which was much expected of him. There is a little relief in terms of 40000 standard deductions towards transport and medical reimbursements, however, the tax slabs are still the same. And over and above there is 10% additional tax on income from mutual funds. This will certainly discourage common and small-scale investors. So, the finance minister has announced many welfare schemes but from where the government is going to get these funds? Mr Jaitley has already thought of generation of funds for all these activities and, hence, planned to disinvest 14 government companies in this year by which he is planning to generate over 80000 Cr. As per him, there is also a net increase of over 90000Cr in revenue due to crackdown over black money and number of the tax payers have increased by over 19.25 Lakh. Direct tax revenue has increased by 12.6% which will further add to the kitty. 10% tax on the long-term capital gain, and increase on cess over health and education was essential and can be taken as a sour pill from the government. After all, the government also needs money to spend. Increase in the custom duty will help to strengthen the local industries for whom there are a plethora of announcements. 25% corporate tax for companies up to 250 cr turnover and 25% tax over MSMEs will act as a boost for Indian companies. These were the highlights, however, there are major aspects of the budget which needs emphasis. The Defence Budget, including allocation for Defence Production, is not yet clear. The planned economic outlook and emphasis on industrial growth are yet to be ascertained. The common men had been considered well but the country in totality needs to be analysed too. In all aspects, the budget is a populistic one and the projects indicate the seriousness with which the government is approaching Mission 2019. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Opinion: Jaitley places Union Budget with an eye on 2019 general election

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