Showing posts with label Budget 2020. Show all posts

Monday, 13 January 2020

CAA exposed Pakistan, youth being misguided: PM Narendra Modi

Mamata govt is not implementing central schemes as they do not help syndicates or involve cut money: PM

Latest News : Prime Minister Narendra Modi on Sunday said a section of the youth was being misguided about the Citizenship Amendment Act (CAA) and asserted that it would not take away anybody’s citizenship.

“We must all know that any person of any religion from any country of the world, theist or atheist, who believes in India and its Constitution, can apply for Indian citizenship through due process. There’s no problem in that,” he told the gathering at Belur Math.

The PM said the dispute that had arisen over CAA had made the world aware of persecution of religious minorities in Pakistan. “Our initiative to amend Citizenship Act has created a dispute. It is the result of our initiative that Pakistan will now have to answer why they have been persecuting minorities for the last 70 years. Human rights have been demolished in Pakistan,” he said, adding some people with political interests were spreading rumours about the new citizenship law.

A day after meeting West Bengal Chief Minister Mamata Banerjee, the PM attacked her, saying the state was unwilling to implement central schemes since these didn’t benefit ‘syndicates’ or involve ‘cut money’.

Updates on Upcoming Event → Budget 2020

Walmart India fires around 50 executives as part of restructuring: Report

Mamata govt is not implementing central schemes as they do not help syndicates or involve cut money: PM

Updates on Upcoming Event → Budget 2020

Australian ‘megablaze’ under control, wet weather promises further respite

New South Wales firefighters said they finally had the upper hand in the fight against the vast Gospers Mountain fire on Sydney’s northwestern outskirts.

Latest News : Exhausted firefighters said they had finally brought Australia’s largest “megablaze” under control on Monday, as wet weather promised to deliver much-needed respite for countryside ravaged by bushfires.

New South Wales firefighters said they finally had the upper hand in the fight against the vast Gospers Mountain fire on Sydney’s northwestern outskirts, which has been burning out of control for almost three months.

Visiting the area on Monday, New South Wales Rural Fire Service commissioner Shane Fitzsimmons said there was a “small area of burning still to complete” but the “containment prognosis looks promising.” The fire seared an area of national park three times the size of Greater London and lit several connected blazes totalling over 800,000 hectares — an area larger than Austria.

As residents and authorities continued to come to grips with the sheer scale of the devastation, the Bureau of Meteorology forecast some firegrounds could get up to 50 millimetres (two inches) of rain in the next week, a relief after a prolonged drought.

If that forecast bears out, the New South Wales Rural Fire Service said, “then this will be all of our Christmas, birthday, engagement, anniversary, wedding and graduation presents rolled into one. Fingers crossed.” Dozens of other fires are yet to be controlled.

Updates on Upcoming Event → Budget 2020

Registration of 300 students blocked due to ‘fake Proctor inquiries’: JNUSU

The union had on Saturday asked students of the university to pay their academic tuition fee but not the hiked hostel fee.

JNU VC Jagadesh Kumar comes out after meeting HRD secretrary Amit Khare in New Delhi. Photo: Dalip Kumar

Latest News : The Jawaharlal Nehru University Students’ Union (JNUSU) has alleged that the varsity administration has blocked the registration of 300 students on the basis of ‘fake Proctor inquiries’.

The union had on Saturday asked students of the university to pay their academic tuition fee but not the hiked hostel fee.

“Today the Vice Chancellor first blocked the fee payment portal and then blocked the payment of tuition fees. It is clear that the VC was lying through the teeth when he said students want to register but are not being allowed to by protesters,” JNUSU president Aishe Ghosh said.

She said the VC has also blocked the registration of 300 students based on fake proctor enquiries which are not even completed.

“The truth is that it is the administration which does not want students to register and is blocking their registration,” she said.

JNUSU vice president Saket Moon said that in the meetings held in HRD ministry, it was decided that the administration would take a lenient view on the students’ protest and not take action against them.

Updates on Upcoming Event → Budget 2020

YES Bank declines 8% as it scales down fundraising plan to Rs 10,000 crore

YES Bank board has rejected $1.2 billion offer by Erwin Singh Braich and SPGP Holdings.

Latest News : Shares of YES Bank slipped 8 per cent to Rs 41.20 on the BSE on Monday in the early morning deals after the private sector lender scaled down its fundraising plan substantially to Rs 10,000 crore, from nearly $2 billion approved by the board in November, as it continued with its struggle to get investors. The stock ended 5 per cent lower at Rs 44.80 on Friday.

YES Bank board has rejected $1.2 billion offer by Erwin Singh Braich and SPGP Holdings. At the same time, the bank’s board has approved fund raising of up to Rs 10,000 crore.

“The Bank has received an updated proposal from the investor extending the validity of its offer until January 31, 2020 for the Bank’s consideration and further evaluation. However, the Board has decided not to proceed with the offer,” YES Bank said in an exchange filing on Friday after market hours.

Meanwhile, the board has approved for raising of funds upto Rs 10,000 crore, in one or more tranches, on such terms and conditions as it may deem fit, by way of issuance of securities including but not limited through Qualified institutional placement (QIP)/ Global Depository Receipts (GDRs)/ American Depository Receipts (ADRs)/ Foreign Currency Convertible Bonds (FCCBs)/ or any other methods on private placement basis.

Updates on Upcoming Event → Budget 2020

Friday, 10 January 2020

Union Budget 2020 : Everything You Wanted To Know About The Budget

The Union Budget also referred to as the annual financial statement is actually a ledger about the income and expenses of the Union government of India. The budget also details expected expenses for various projects and expected revenue from direct and indirect taxes.

After the Finance Ministers tables the budget in the Parliament, it is also necessary to get the budget passed in both houses of Parliament before it can be implemented. The budget is an extremely significant exercise for the economy of the country. Yearly accounting of income and expenditure of the government, review of the financial health of the country and the resulting transparency and subsequent course correction helps to keep the country’s economy on track.

Union Budget history

India’s first Budget was presented on February 18, 1860, by James W Mahalanobis. R K Shanmukham Chetty, the first finance minister of independent India presented the Union Budget on November 26, 1947. In 2001, the then finance minister Yashwant Sinha broke the colonial practice of presenting the Budget in the evening and started the tradition of reading it out from 11 am. Indira Gandhi became the first woman finance minister to present India’s Budget in Parliament in 1970. Nirmala Sitharaman, who was appointed as the finance and corporate affairs minister on May 31, 2019, is the second woman to have presented the Budget on July 5, 2019.

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Classification of Different Types of Budgets

The three types of budget are deficit budget, balanced budget and surplus budget. As the name suggests the most ideal budget would be a balanced budget. In this type of budget government's expenditure is equal to the expected income. Many economists believe that a balanced budget would be an ideal budget and can ensure economic stability. Deficit budget is presented when the government's expenditure is more than its revenue collection. Although not the most ideal scenario but most of the times due to various reason deficit budgets are tabled especially in developing countries. In developing and under-developed countries the government’s spending on social welfare scheme and increased public spending to stimulate the economy are major causes of a deficit budget. Surplus budget is when the government’s projected revenue is more than its expenditure, the same happens mostly in rich countries and economies.

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Union Budget 2020

Finance Minister Nirmala Sitharaman is set to present the Budget 2020 on February 1. The Union Budget is an estimate of income and expenditure of the government for a set period of time. It is an annual financial report of India. The Budget also documents how much money the Centre could expect to raise in the coming fiscal and how and where it would spend the money. The Budget is prepared by the Ministry of Finance in consultation with other ministries, states and experts. Ministry officials hold discussions with non-governmental organisations (NGOs), private sector and other stakeholders before preparing the Budget.

As per Article 112 of the Indian Constitution, it is mandatory for the government to present this annual statement. The Union Budget is classified into Capital Budget, Revenue Budget and Expenditure Budget.

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