PM Modi Celebrates Raksha Bandhan with Children & Women’s.

Prime Minister Narendra Modi today followed on Twitter 55 women, including sports and media personalities, to mark Raksha Bandhan.

These women include professional badminton doubles player Ashwini Ponnappa, tennis players Sania Mirza and Karman Kaur Thandi, athlete P T Usha, former Miss India and child rights activist Swaroop, and journalists Romana Isar Khan, Sweta Singh, Padmaja Joshi, Sheela Bhatt and Shalini Singh.

Others followed by the prime minister on the micro-blogging platform include actor Koena Mitra, weightlifter Karnam Malleswari, photo journalist Renuka Puri and some BJP members and state government ministers.

Some of those followed by Modi, thanked him and wished him on Raksha Bandhan.

Sources in the government said the prime minister followed them on Twitter to mark the festival.

The prime minister follows 2,000 people on his personal Twitter handle @narendramodi and is followed by 43.7 million people.

His official Twitter handle @PMOIndia follows 438 people, including world leaders. The official account is followed by 26.9 million people.

Article Source : BS

Fake news crackdown: Modi govt wants WhatsApp, Facebook to be responsible

The government is more concerned with Telegram, fast becoming the preferred medium for many people

The government has said it expects popular social media applications such as WhatsApp and Facebook, which have large user bases in the country, to be responsible.

In a bid to check the spread of fake news through social media and messaging platforms — leading to mob lynching in some cases — the government is exploring the possibility of blocking WhatsApp, Facebook, Instagram, and Telegram. The government is also trying to curb child abuse and pornography spread through these platforms.

The government has already issued notices on WhatsApp to keep a check on content. But, it is more concerned with Telegram, fast becoming the preferred medium for many people.

Sources said the Ministry of Electronics and Information Technology (MeitY) had expressed concerns about Telegram to the Department of Telecommunications (DoT). Based on the letter from MeitY, DoT had asked the telecom and internet service providers to provide inputs about blocking mobile apps.

ALSO READ: Social media with large user base should behave responsibly: IT Secretary

Asked about the blocking of mobile apps, Information Technology (IT) Secretary Ajay P Sawhney said, “We are always in touch, and anytime we have a concern we flag it. We expect all platforms to behave in a responsible manner, especially those with a large user base.” He, however, said whenever the need arises, the government acts according to the IT Act in order to remove contentious content.

Sources told Business Standard it was very difficult for the government to ensure content had been blocked or taken down. In case of Telegram, which does not have a huge user base in India yet, the government wants to strengthen its enforcement mechanism.

Telegram claims its cloud chat data is stored in multiple data centres around the globe that are controlled by different legal entities spread across different jurisdictions. The relevant decryption keys are split into parts and are never kept in the same place as the data they protect. As a result, several court orders from different jurisdictions are required to force them to give up any data.

“Thanks to this structure, we can ensure no single government or block of like-minded countries can intrude on people’s privacy and freedom of expression,” Telegram explained on its website. Read more

A welfare scheme for 500 mn Indians: Is this Modi's big plan for 2019?

The government has drafted a bill to extend benefits to all workers, including those in informal employment, by merging and simplifying 15 federal labour laws into one

Prime Minister Narendra Modi is set to extend a welfare program to India’s 500 million workers as he bids for re-election in 2019, but he has limited time and resources to implement the ambitious plan.

PM Modi aims to initially provide three programs — old age pension, life insurance and maternity benefits, while leaving out unemployment, child support and other benefits — to most working citizens, government officials said, asking not to be identified as discussions are private.

While it could translate into significant political gains to offset the challenges he faces in the lead up to the national poll, it is likely to add pressure on India’s fiscal deficit, already one of the widest in Asia.

The government has drafted a bill to extend benefits to all workers, including those in informal employment, by merging and simplifying 15 federal labour laws into one. It plans to present the bill in July in the upcoming session of Parliament, Labour Minister Santosh Gangwar told Bloomberg News, while remaining non-committal on a full-fledged roll-out before the national poll.

The plan will be one of the largest mass benefit programs in the country of 1.3 billion people and comes after the February announcement of a health protection plan targeted to cover 100 million poor families, dubbed ‘Modicare’.

The government plans to pilot the project in six districts in the months leading up to the federal elections due in May next year, the officials said.

“Nobody can deny the importance of social security for the country’s working class and it is overdue,” said Satish Misra, a political analyst at the Observer Research Foundation in New Delhi. “But the timing suggests it’s political in nature and Modi wants to push it in a hurry so that in election campaign he can claim it’s a game changer for poor.”

Challenging Process

It will be a challenge to make the system sustainable, and difficult for the government to provide benefits from its current $376 billion budget. It intends to limit the initial scope to maternity, pension, and death or disability benefits, leaving out unemployment and child support, the officials said.

The move is expected to have a dual impact on the economy. Higher social spending would add to fiscal stress and limit the scope for infrastructure development. But by giving benefits mostly to informal workers who contribute to about half of the country’s GDP, it would enhance the quality of life and raise productivity.

Modi's Nepal visit: PM calls Oli 'bhai', draws on ties 'since Treta Yug'

On the eve of his visit to Nepal, Modi said India would remain a steadfast partner of the Himalayan nation in its quest for growth and development. Catch all the Modi Nepal visit updates here

Prime Minister Narendra Modi on Friday morning arrived in Nepal for a two-day state visit. Ahead of the visit, Modi had tweeted that the "visit reflects the high priority India attaches to friendly relations with Nepal". Further, Modi said India would remain a steadfast partner of Nepal in its quest for growth and development. Kicking off his tour, Modi offered prayers at the Ram Janaki temple in Nepal's Janakpur and inaugurated the Ramayan Circuit Bus Route, before addressing a civic reception. The prime minister is visiting the neighbouring country on an invitation from his Nepalese counterpart Khadga Prasad Oli.

Ministry of External Affairs (MEA) spokesperson Raveesh Kumar on Friday tweeted that Modi's Nepal visit would consolidate the principle of neighbourhood first and Sabka Saath, Sabka Vikas. He added that it would build on Prime Minister Oli's visit to India. The Nepalese Prime Minister was on a three-day visit to India in April this year, when the two sides signed a number of agreements, which were termed 'game-changing' by the MEA.

According to news agencies, Nepal is all set to welcome Modi, for whom this will be a third tour to the Himalayan nation. "As Nepal enters a new era of consolidating the gains of a democracy and achieving economic growth, India remains a steadfast partner of the Nepal government to implement their vision of 'Samriddha Nepal, Sukhi Nepali' (prosperous Nepal, happy Nepal)," tweeted Modi on the eve of his visit.

According to officials, certain agreements were expected to be signed between the two leaders. Security has been tightened in the country and as many as 11,000 security personnel from both countries have been deployed for the visit.

Here are the top 10 developments around Prime Minister Narendra Modi's two-day Nepal visit:

1) Modi addresses gathering at Rangabhoomi ground, says India's faith 'incomplete without Nepal': Prime Minister Modi was felicitated at a civic reception at the Bahrabigaha's Rangabhoomi ground, where he addressed the people gathered to welcome him. At the reception, Modi said it was his "long due wish to visit the land of Goddess Sita and offer his prayers".

"Today, I am extremely happy and grateful that I got this opportunity," said Modi. Further, the Prime Minister said that the Indo-Nepal relationship "dates back to Treta Yug".

Referring to the mythological epic Ramayana, Modi said, "King Janak and King Dasharath not only united Janakpur and Ayodhya but also India and Nepal."

Karnataka election: Manmohan attacks Modi for 'economic mismanagement'

With the Karnataka Assembly election 2018 days away, the BJP and Congress are running fierce campaigns. Catch today's latest Karnataka election campaign updates here

As the Karnataka Assembly election 2018 draws closer, top Bharatiya Janata Party (BJP) and Congress leaders are holding back-to-back rallies in the state to boost their respective parties' chances of securing a win in the crucial election.

Former Prime Minister Manmohan Singh, too, joined the Congress election campaign in the state on Monday, addressing a press conference in Bengaluru. Singh attacked the Modi government for its economic policies, saying that the country was facing a crisis that was avoidable.

Earlier in the day, Prime Minister Narendra Modi interacted with Karnataka BJP Yuva Morcha workers. Addressing Karnataka BJP workers via NaMo app on Monday, the Prime Minister accused the Opposition of being against new technologies promoted by the central government.

Looking to dethrone the Congress-led government in Karnataka, Modi kick-started a series of election rallies in the poll-bound state on May 1, with a total of 21 rallies scheduled. On Sunday, he addressed rallies in Chitradurga, Raichur, Jamakhandi, and Hubli.

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As the Karnataka election inches closer, a political slugfest has erupted in the state, with parties firing a barrage of barbs at one another. Gandhi has advised Prime Minister Modi to "copy" and implement at the Centre the Karnataka government's plan for the welfare of Dalits and Adivasis. Modi, for his part, reminded voters that United Progressive Alliance (UPA) Chairperson Sonia Gandhi and party chief Rahul Gandhi were out on bail in connection with a Rs 50-billion (Rs 5,000-crore) scam.

Karnataka will go to the polls on May 12 to elect its representatives for the 224-member Assembly. The results will be out on May 15.

Here are the top 10 developments in the Karnataka Assembly election 2018 campaign by Narendra Modi and Rahul Gandhi:

1) Manmohan Singh attacks Modi, BJP: Addressing a press conference in Bengaluru, former PM Singh accused the Modi government of hurting the economy with moves such as demonetisation and the hasty implementation of goods and services tax (GST).

" Two major avoidable blunders of the Modi govt have been demonetisation and hasty implementation of GST. The losses the economy suffered due to these blunders have severely hurt our micro, small and medium enterprise sector and resulted in the loss of tens of thousands of jobs," Singh said.

Singh also attacked the government over a series of banking sector frauds, saying that swindled money almost quadrupled from Rs 284.16 billion in September 2013 to Rs 1.11 trillion in September 2017.

"Perpetrators of these frauds, meanwhile, escape with impunity. The economic mismanagement of the Modi government, and I say this with great care and responsibility, is slowly eroding the general public's trust in the banking sector," he said.

Modi in London: Khalistani elements tear Indian flag; Pak hits out at PM

The Karnataka Assembly polls also flavoured Modi's interaction at 'Bharat Ki Baat' when the prime minister highlighted the contributions of 12th-century Lingayat philosopher Basaveshwara

Prime Minister Narendra Modi today had a series of bilateral meetings including discussions with Seychelles President Danny Faure and his Mauritius counterpart Pravind Kumar Jugnauth on the sidelines of the multilateral Commonwealth Heads of Government Meeting (CHOGM). "Friend in an extended neighbourhood! PM @narendramodi and President of Seychelles, Danny Faure met on the sidelines of #CHOGM18 and discussed cooperation in areas of trade and investment and other bilateral issues," Ministry of External Affairs spokesperson Raveesh Kumar tweeted. The bilateral talks between Faure and Modi assumes significance after Seychelles ordered an inquiry into the leak of a highly classified agreement signed with India to develop infrastructure on Assumption Island, which lies southwest of the mainland of Mahe.

The opposition in Seychelles has decided not to ratify the pact because of Assumption's relative proximity to Aldabra atoll, a UNESCO World Heritage Site that is home to the world's largest population of giant tortoises. Cementing close friendship with Mauritius, Prime Minister Modi met his Mauritius counterpart Jugnauth and talked about cooperation in trade and investment, maritime cooperation and people-to-people ties, Kumar said. The "pull-aside meetings" with world leaders included an interaction with Ugandan President Yoweri Museveni, Gambian President Adama Barrow, Fiji Prime Minister Frank Bainimarama, St. Lucia Prime Minister Allen Chastanet and Prime Minister of Solomon Islands, Rick Houenipwela.

At the end of the retreat, Modi will head back to India after a brief stop for his meeting with German Chancellor Angela Merkel in Berlin.

Meanwhile, Pakistan on Thursday rejected Modi's remarks on the 'surgical strikes' across the Line of Control in 2016 as fake, saying "repeating a lie doesn't turn it into the truth." Speaking at the 'Bharat Ki Baat, Sabke Saath' programme in London yesterday, Modi had said India waited to inform Pakistan about the operation before disclosing it to the media and the people.

"I said before India gets to know, we should call Pakistan and tell them. We were calling them since 11 AM but they were scared to come on phone, at 12 we spoke to them and then told the Indian media," Modi had said.

Here are the top 10 developments around Prime Minister Narendra Modi's visit to London, 'Bharat Ki Baat, Sabke Saath' programme, and his itinerary for today: (more)

Budget 2018 and its Possible Impact on Stock Market

The future movements in the markets over the next month or so will be decided by the contents of the Budget 2018.

Lately both the major indices in India has scaled record heights, the Sensex has crossed the 36000 mark whereas the Nifty has also breached the 11000 level.The future movements in the markets over the next month or so will be decided by the contents of the Budget 2018. Although in the period leading up to the Budget utmost secrecy is observed but some information does filter through, other than that rumours and informed speculations are also what that drives the sentiments of the markets. Generally there are negative sentiments and expectations attached to the Budget thus investors usually postpone buying decisions before the Budget is tabled. Thus in the past mostly the benchmark index has fallen in the month leading up to the Budget and the markets both Sensex and Nifty have seen gains after the Budget has been delivered. This has been the trend in six out of the last nine Budgets. But the said trend has now been broken with the markets touching new heights just before the Budget 2018. Few numbers in the Budget 2018 such as that of fiscal deficit and disinvestment targets will have a major impact on the direction of the bourses. Experts believe that the days leading up to the Budget the markets will see a rally due to various anticipations and right after the Budget profit booking in the stock market may be seen. However, there will be opportunities for investment in select sectors also.

Expected Impact of Budget 2018 on Stock Market
It is largely expected that the Budget 2018 will be neutral for the stock markets thus no sharp surge or dip in Indian indices is being expected. As the said Budget is the last full budget before the Lok Sabha elections in 2019 and before multiple assembly elections in 2018 no major reforms are expected to be undertaken. Experts believe that in the near future with record FII inflows, soaring investments in mutual fund, low interest rates and a strong rupee against the dollar the outlook in the markets is expected to remain positive. Although on the day of the Budget 2018 and the 48 to 72 hours period after the same the markets are expected to remain extremely volatile. In the Budget 2018 the markets would like to see a bump up in Government’s revenues to tackle fiscal deficit but most likely the fiscal deficit target of 3.2% of the GDP would be missed by the Government. The target is most likely to be revised to 3.4% which will have a somewhat negative impact on the markets. The markets also expect the government to pursue disinvestment agenda aggressively especially that of Air India. Relief in corporate tax rates and personal income tax along with stabilization of the Goods and Services Tax (GST) and increased public spending with focus on manufacturing, job creation and rural distress are some other key expectations of investors that will have a major impact on the markets.

Possible Reasons for Rise and Fall in the Markets after the Budget 2018
The FM most likely will try and strike a balance between popularism and fiscal prudence in the Budget 2018. The Indian market is already at historical highs so experts believe that even an industry friendly budget will have only a nominal impact. On the other hand if there are some dreadful surprises in the Budget 2018 then even a crash cannot be ruled out. One of the major decisions that the markets is hoping doesn’t materialise is the introduction of long-term capital gains tax (LTCG) on shares.

Economic Survey 2018: Formal jobs far more than current official estimates

Ther are 220 million employees in the economy, out of which 75 million workers enjoying social security benefits

Formal jobs are much more than what the current official estimates, the Economic Survey 2018 released on Monday said.

The Survey, analysing the data from goods and services tax (GST) and newly available digitised government data, said there were a total of 220 million (22 crore) employees in the economy, out of which 75 million (7.5 crore) workers enjoying social security benefits at present.

The Survey defined formal employment in two parts — First, those receiving social security benefits from Employees’ State Insurance Corporation and Employees’ Provident Fund Organisation. Second, those receiving it from firms under the GST regime.

“From a social security perspective, formal employment amounts to 60 million (6 crore), to which we must add an estimated 15 million (1.5 crore) of government workers (excluding defence), for a total of 75 million (7.5 crore),” the survey said.

From a tax perspective, formal employment is 112 million (11.2 crore) and government employment yields a total count of 127 million (12.7 crore), it noted. “Notwithstanding the caveats regarding the specific numbers, the broad conclusion is likely to be robust: formal payrolls may be considerably greater than currently believed,” the survey said.

The Survey added that when formality was defined in terms of social security provisions like EPFO or ESIC, the formal sector payroll was found to be about 31 per cent of the non-agricultural workforce. When formality was defined in terms of being part of the GST net, such formal sector payroll share stood at 53 per cent, it said.

“Even so, it is clear that providing India’s young and burgeoning labour force with good, high-productivity jobs will remain a pressing medium-term challenge. An effective response will encompass multiple levers and strategies, and above all, creating a climate for rapid economic growth on the strength of the only two truly sustainable engines — private investment and exports,” according to the Survey.

Budget session LIVE: CEA predicts achhe din in 2019, lists govt's successes

Economic Survey 2018 is a flagship annual document of the Finance Ministry that reviews the overall state of the economy

Live Budget 2018 : The Economic Survey 2017-18, tabled in Parliament on Monday, forecasts gross domestic product growth for 2018-19 at 7-7.5 per cent, compared with a forecast of 6.75 per cent in the current fiscal year.

“A series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75 percent this fiscal and will rise to 7.0 to 7.5 per cent in 2018-19, thereby re-instating India as the world‘s fastest growing major economy,” an official statement said, after the tabling of the survey, adding that “the reform measures undertaken in 2017-18 can be strengthened further in 2018-19.

The survey said that due to the launch of ‘transformational’ Goods and Services Tax (GST), resolution of the long-festering Twin Balance Sheet (TBS) problem by sending the major stressed companies for resolution under the new Indian Bankruptcy Code, implementing a major recapitalization package to strengthen the public sector banks, further liberalisation of FDI and the export uplift from the global recovery, the economy began to accelerate in the second half of the year.

In a highlighted box titled “Ten New Facts on the Indian Economy”, the survey stated that there was a large increase in registered direct and indirect tax payers due to demonetization and GST respectively, and that formal non-agricultural payroll was much greater than earlier anticipated.

What is Economic Survey?

It is a flagship annual document of the Finance Ministry. It reviews the overall state of the economy in the last 12 months. In August last year, however, the government for the first time presented a mid-term economic survey.

Arvind Subramanian

States and urban and rural local governments collect low levels of direct taxes even relative to the powers they already have. Does this imply a low-equilibrium accountability-delivery trap?

• India’s states and third-tier institutions (urban and rural local governments) collect a lower share of revenue by way of direct taxes than their counterparts in other federal countries.
• If you look over the last 50-60 years of India, we have moved from "crony socialism" to "stigmatized capitalism": CEA

Arvind Subramanian

India is in the midst of simultaneous slump in investment and saving rates post GFC. Investment went up 9.1 percentage points in 4 years during mid 2000s and has declined by about 6.3 percentage points in 8 years since GFC.

Budget 2018: New bottoms-up mechanism for farm-gate marketing likely

The Budget 2018-19 may announce haats and organic hubs in 1,000 village clusters across the country.

Modelled on Harihar Haath in Jagdalpur district of Chhattisgarh, these markets will enable villagers to sell their produce directly to consumers, bypassing middlemen, thereby helping them realise a good price for their produce.

Started as a pilot project in 2017, Harihar Haath is a unique bottoms-up approach to farm marketing. It is a consortium of four farmer-producer companies, five cooperatives, and 13 women self-help groups. It has been taking great strides to create a risk-free space for farmers.

The farmers collectively purchase goods from growers and sell them at rates lower than prevailing market prices. Most of the farmers are women, drawn from self-help groups under the Mahila Kisan Sashaktikaran Pariyojana of the rural development ministry.

The state and district administrations provide them space for selling their produce. With monthly sales of over Rs 200,000 and profits of over Rs 50,000, Harihar Haath handles 250 customer footfalls per day, and sells 1.5 tonnes of produce daily.

“We want the Harihar Haath model to be replicated in many more places across the country,” an official said.

These clusters are part of the 5,000-odd ones already identified by the Mission Antodaya programme. The mission, which aims to rid 50,000 gram panchayats of poverty in 1,000 days by converging all schemes, was announced in the Budget for 2017-18 by Finance Minister Arun Jaitley.

It is a state-level initiative for rural transformation to make a difference based on measurable outcomes to the lives of 10 million households in 5,000 rural clusters. The gram panchayats chosen possess a high level of social capital and have the ability to implement rapid rural transformation for poverty elimination.

The mission encourages partnerships with a network of professionals, institutions and enterprises to accelerate the transformation of rural livelihoods. Self-help groups are enablers due to their social capital and their proven capacity for social mobilisation.

The government has started the process of ranking gram panchayats and identifying their basic needs and economic standards so that targeted interventions can be made.

The sorting of 1,000 clusters out of the 5,000 identified will help in creating additional livelihood opportunities in villages. The clusters, yet to be identified, are ones that have a strong agricultural base and where farmers will be encouraged to grow and sell produce free of pesticide and chemicals.

Women farmers and self-help groups along with farmer producer companies will form the backbone of this infrastructure.

Budget 2018: A 15-year, Rs 35.3-trillion plan to put Railways on track

The Indian Railways is working on a Rs 35.3-trillion investment plan by 2032, pushing up the capital expenditure for the ministry by around 92 per cent annually. Going by the ambitious vision, the average annual investment, including capacity addition and modernization, would touch around Rs 2.5 trillion, up from the Rs 1.31 trillion in 2017-18.

This long-term investment will also comprise the modernisation plan of ‘Vision 2030’ and also Rs 8.56-trillion investment target that former minister Suresh Prabhu had kicked off starting 2014-15. “The Indian Railways will require approximately Rs 35.3 trillion by 2032 to create the requisite capacity and modernize the system,” the ministry said in a report to the Parliamentary Standing Committee. The Railways, under Piyush Goyal, has already started the work, aiming to achieve at least 4000 km electrification per year in the coming years.

budget 2018 India : The capex for Railways during 2015-16 and 2016-17 were Rs 935.2 billion and Rs 1.21 trillion, respectively, posting a significant increase in the recent years.

As per the latest plan, railways freight share may zoom from 33 per cent now to around 47 per cent. It has also set a target of increasing the passenger kilometre to 3.3 trillion PKM in 2030, from about 1.13 trillion PKM now. While the completion of dedicated freight corridors would segregate freight and passenger traffic on high density routes, speed of freight trains will increase from 25 km per hour (kmph) to 100 kmph.

With this, train speed is expected to be increased to 160-200 kmph in order to ensure better intercity travel up to 500 km in three to four hours. “In the ten years starting from 2020 to 2030, we are targeting more than 4000 km of new lines, doubling of 10,000 km and almost 100 per cent electrification,” an official said.

Asset monetisation will be one of the key revenue sources with the share of non-fare revenue likely to go up to almost 20 per cent from the current 4 per cent range in the next 12 years. In addition, the upcoming Budget may announce overhauling of the signalling system and implementation of the European Train Control System (ETCS) technology. This could cost the Railways around Rs 600 billion to cover the entire country. Also, a Rs 1-trillion plan has been lined up for commercial development of railway stations.

Of the Rs 8.56 trillion lined up for the first five years of Vision 2030, Rs 4 trillion has already been invested. A majority of this will go towards network decongestion, including freight corridor and electrification, network expansion and safety. In fact, over the next couple of years, at least 8,000 km of old tracks will be replaced, at an estimated cost of Rs 100 billion.

Around 30 per cent of the Rs 8.56-trillion capex for five years is expected to come from budgetary, 28 per cent from debt, and about 15 per cent through internal generation. Indian Railway Finance Corporation is arranging a debt of Rs 2.5 trillion to meet the five-year investment target.

Budget 2018: Has Modi govt delivered on its promise of urban development?

BJP govt faces this situation as it heads into its last full budget before general elections in 2019

Budget 2018 India : With India’s urban population rising by 11 million annually–the equivalent of adding a Bengaluru every year–and urban voters forming a major vote base for the Bharatiya Janata Party (BJP), making money and management available for cities would appear to be a priority.

But promises of smart cities and managing growth to provide jobs and housing for the coming urban population jump from 377 million in 2011 to 600 million in 2031–with 20% of this growth expected to come from rural distress and migration–are, currently, displaying little progress.

Less than a quarter of central funds for four major national programmes for India’s urban renewal have been used, according to an IndiaSpend analysis of government data. Since urban development is a state subject, state governments implement these national schemes with central assistance playing a key role. State and urban bodies are also expected to finance a portion of the program on their own by raising funds from other sources.

A further disaggregation of central funds data from the ministry of housing and urban affairs reveals:

• Upto February 2017–the last release of data–no more than 3% of smart-city projects were completed and 12% of central funds were released;
• With two years to deadline, the Centre–as of July 2017, the last release of data–was still to release 87% of funds for urban infrastructure in 500 cities and towns;
• Upto July 2017, 95.4% of central funds sanctioned for upgrading 12 heritage cities were unused, as the programme’s November 2018 deadline approaches;
• Work on 93% of sanctioned houses–meant to meet 16% of India’s urban housing shortage–was incomplete as of January 2018. The target of housing for all: 2022;
• Little is known of how state governments are raising funds and implementing these programmes.

This is the situation facing the BJP government, as it heads into its last full budget before general elections in 2019, at a time when Prime Minister Narendra Modi has promised 100 smart cities and housing for all by 2022.

The urban sector will not just watch how much money is set aside in the 2018-19 budget but also how it is used, as the National Democratic Alliance (NDA) tries to deliver on its promises of urban development and rejuvenation ahead of upcoming assembly elections in eight states and the 2019 general elections.

budget 2018: Logistics region wants FM Jaitley to raise regulatory limitations

the world also expects the Narendra Modi authorities to provide a unbroken, transparent digital platform to make sure easy movement of goods and vehicles throughout the united states of america

nowadays, the Narendra Modi-led imperative authorities has delivered in numerous measures to uplift the united states of america’s economic system. It has additionally set the level for unlocking the boom capacity for India’s logistics sector

by means of putting in a devoted logistics division beneath the Ministry of trade & enterprise and granting the arena an infrastructure fame.

Now as the government heads for its last complete finances on this phrases when Finance Minister Arun Jaitley offers Union Budge 2018 on February 1, we would sit up for seeing greater emphasis on enhancing the infrastructure.

ultimate 12 months, we saw the finance minister pronouncing an investment of approximately Rs 39.61 lakh crore in infrastructure development. that is sure to be a boon – now not handiest for express delivery players however for lots industries.

This year, we'd also count on efforts from the government to cut regulatory barriers and provide a seamless, transparent

virtual platform to make certain smooth movement of goods and motors throughout the united states of america. lastly, our price range 2018 expectation is that the finance minister could announce new schemes focused on fiscal incentives to encourage investments in special monetary zones (SEZs). those will allow the non-public quarter to consolidate and expand, and contribute to the economy greater meaningfully.

the writer is dealing with director of courier and logistics business enterprise TCI express

Budget 2018: Eyes on Arun Jaitley's announcements for rural sector

The Budget allocation for Ministry of Agriculture and allied activities has grown by 114% since 2010-11

As Finance Minister Arun Jaitley gets down to deliver his fifth annual Budget for the 2018-19 financial year, all eyes will be on his announcements for the rural sector which is going through a downturn in the last few years. Two consecutive droughts along with a sharp fall in incomes have turned agriculture unprofitable resulting in massive agitations in several parts of the country.

Budget 2018 : According to some estimates, in the 2017 Kharif season alone, an estimated Rs 360 billion has been denied to farmers for not being able to sell their produce at the state-mandated Minimum Support Price (MSP). The fall in farm incomes not only threatens to dent the ruling BJP electorally but could also raise a big question mark on the government’s promise to double incomes by 2022.

In this perspective, Business Standard looks at budgetary allocation for agriculture and allied sectors in the past few years under the UPA and first years of the NDA along with agriculture growth during these years.

The Budget allocation for Ministry of Agriculture and allied activities, which includes the departments of agriculture research and animal husbandry, has grown by 114% since 2010-11, with a big jump coming from 2016-17 after the government started adding the expenditure incurred on interest subvention on short-term crop loans under the Ministry of Agriculture.

But, the higher budgetary allocation hasn’t translated big time into farm growth, projected to drop to its lowest level in recent times in 2017-18, according to the first Advanced Estimate. Though, allocations aren’t meant to boost growth and just give the direction of the govt’s spending.

more appropriate factor in farm growth seems to be the performance of the southwest monsoon, which has been erratic in 2014 and 2015. 2016 was the first full-year of a near-normal monsoon under NDA-2.

Note: Starting from 2016-17 Budget, the central government has been adding the component of interest subvention on short-term crop loans into agriculture ministry's Budget. Earlier, it was part of the Budget of the Ministry of Finance; LPA: Long-period average.

Budget 2018: This is why Maharashtra's drought woes are likely to continue

Even after 20 years, irrigation projects worth Rs 9 billion remain incomplete and now their cost is expected to be more than Rs 50 billion

In many ways, the Lendi irrigation project close to the Andhra Pradesh-Maharashtra border continues to be a prime example of the excruciating delays that have plagued irrigation projects in India.

Conceived in 1987, this major irrigation project was to be completed in 1992. The project involved building a dam at the Lendi river to store over 6 trillion cubic metres of water before it joined the Manjira river, a tributary of the Godavari, the largest river of peninsular India. The project being executed by the Godavari Marathwada Irrigation Development Corporation Ltd was originally envisaged to be built at the cost of half a billion rupees. But in 2016, authorities further pushed the completion date to 2020 with a revised cost of Rs 14 billion. If the project is completed after 28 years of delay, it will join 16 other such irrigation projects in Maharashtra that have been hanging fire for over two decades. Many of these projects are in the severe drought-hit regions of Vidarbha and Marathwada in the state.

Budget 2018 : This shouldn’t have been much of a bother for Finance Minister Arun Jaitley, who gets set to present his government’s last full-fledged Budget on February 1, 2018. But the fact that such delayed projects dot Maharashtra would certainly rankle the finance minister. Information sourced from his ministry shows that these multi-decade delays in completing minor and major irrigation projects across Maharashtra have cost the government a lot of money over the years. Out of a total of 29 irrigation projects under construction in the state, 16 are delayed with massive time lags. These projects that should have been completed at an estimated cost of Rs 9 billion will now end up costing more than Rs 50 billion. And the fate of those expected to be commissioned in 2018 still remains unclear.

Maharashtra might be India’s richest state, yet every year the state faces debilitating droughts leading to destruction of farm livelihoods and loss of life due to the paucity of drinking water. In 2013, the state faced its worst drought ever. If that wasn’t enough, in 2015 and 2016 severe droughts again hit the state. Reports suggest that the state’s farmers sought insurance to the tune of Rs 41 billion for crop losses due to drought in 2016. That year, the agriculture sector in the state contracted by 4.6 per cent.

While Jaitley might be inclined to announce new irrigation projects for Maharashtra, the Narendra Modi administration might do well to ensure that irrigation projects scheduled to be completed this year and the ones hanging fire for more than two decades see the light of the day first, without suffering the same fate as other projects like the Lendi irrigation project. Finance ministry data show that at least six irrigation projects in the drought-hit state are scheduled to be commissioned in 2018. All these projects were conceived before 1997. Although conceived at a cost of Rs 7 billion, their revised completion cost 20 years later exceeds Rs 27 billion.

Annual Budget 2018

Annual budget in simple language means a projected income and expenditure for the entire 12 months. The Annual budgets apply to a fiscal year or calendar year.

Annual budget in simple language means a projected income and expenditure for the entire 12 months. The Annual budgets apply to a fiscal year or calendar year. There is a need to create an annual budget for a country, as it is not possible to levy taxes as and when the income is needed and spend money in whichever sphere the government decides. Keeping the limited resources, a well-planned Union budget is created by indicating the income and expenditure.

What is Union Budget?

Our parliamentary system works on West Minister model. Our Annual budget is approved subject to the approval of legislature at both center and state levels. The Annual financial statements is presented before both the houses of Parliament. This is also termed as the budget of the Union government. The expenditure estimates included in the budget has to be presented before the Lok Sabha in the form of “Demand for Grants”.

Union Budget Date

In Our country, the budget is presented on a fixed date as decided by the President. This year The Union Budget 2018 will be presented on February 1, Parliamentary Affairs Minister Ananth Kumar announced on 5th of January. The minister further stated that the budget session of the parliament will be conducted from January 29 to April 6, 2018.
The Phase 1 of the session will be held from January 29 to February 9 while the second phase will be from March 5 to April 6, as told by Mr. Kumar.

Union Budget 2018 : Economic Facets and Taxation

The budget will be presented by the Finance Minister Mr. Arun Jaitley in the noon for the fiscal year 2018-19. President Ramnath Kovind will address both the houses of the Parliament on January 29, 2018. Last year also the budget presentation date was the same. The Union budget presentation is usually in two parts; Part A: Economic Survey, Part B: Taxation proposals. On January 29th itself Economic survey will be presented before both the houses.

Union Budget 2018: Post GST And Demonetization

This year’s budget has significance as it is the first budget presented after the post GST and demonetization era. This budget is also the last budget to be presented to Prime Minister Modi Government. This will also be the last budget presentation by Mr. Jaitley before the general election in 2019.

Union Budget 2018: Agriculture Being Highest Priority

The general presentation of the budget and its outlines will be presented from January 29 to February 9, 2018. The Parliament will commence again from March 5th to April 6th to discuss taxation proposals. Both the sessions will have a recess in between for the standing committees to clear the budgetary proposals. Last year the government has scrapped the practice of separate railway budget. In an interview given by Mr.Jaitley the agricultural sector will receive the highest priority in the Union Budget this year.

All eyes are set on the Union budget for 2018-29, and what is in store for our country for this year. We will have to wait for the Union Budget sessions to commence and Mr. Jaitley to make budgetary announcements.