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New Delhi [India], July 25 (ANI): The discussion on the <keyword id="6360189" type="General" weightage="20" keywordseo="Union-Budget" source="Orion">Union Budget</keyword> 2024-25, presented on July 23, will continue in both <keyword id="244400" type="General" weightage="20" keywordseo="Houses-of-Parliament" source="Orion">Houses of Parliament</keyword> on Thursday. The discussion on <keyword id="6358021" type="General" weightage="20" keywordseo="Budget" source="Orion">Budget</keyword> of <keyword id="17605" type="General" weightage="20" keywordseo="jammu-and-kashmir" source="Orion">Jammu and Kashmir</keyword>, 2024-25, which was also presented on Tuesday, will also continue today. Union Minister Gajendra Singh Shekhawat, Jitendra Singh, Arjun Ram Meghwal and Kirtivardhan Singh will lay papers on the table today. Union Minister Sukanta Majumdar is likely to make a statement regarding status of implementation of recommendations and observations contained in the 250th report of the department-related parliamentary standing committee on Home Affairs on action taken by the government on the recommendations and observations contained in the 243rd report of the committee on demands for grants (2023-24) of the Ministry of Development of North Eastern Region. Both Houses of <keyword id="19895397" type="General" weightage="20" keywordseo="Parliament" source="keywords">Parliament</keyword> took up discussion on the <keyword id="15626720" type="General" weightage="20" keywordseo="union-budget-2024" source="Orion">Union Budget 2024</keyword> on July 24, with opposition parties accusing it of being "discriminatory" to most states and lacking vision. The discussion was initiated by former Finance Minister and Congress MP P Chidambaram in Rajya Sabha and Congress MP Kumari Selja initiated the discussion in Lok Sabha. Raising four major challenges, Chidambaram said the most significant challenge is unemployment and data released by the Centre for Monitoring Indian Economy (CMIE) indicates that the unemployment rate for June 2024 is 9.2 per cent . Chidambaram emphasised that the primary challenge for the economy is creating sufficient employment opportunities. He pointed out that the budget's announcement of the employment-linked incentives (ELI) scheme suggests that the Production Linked Incentives (PLI) scheme is not generating the expected employment. He urged the finance minister to disclose the number of jobs created by the PLI scheme. Radha Mohan Das Aggarwal of the BJP highlighted the achievements made by the government led by Prime Minister Narendra Modi in the last ten years. He said the Jan Dhan Yojana has provided banking services to crores of people in the country. Biplab Kumar Deb of the BJP said the Economic Survey has estimated real GDP growth of 6.5 per cent to 7 per cent in 2024-25. He highlighted the provisions in the budget for various sections, including farmers and the education sector. Trinamool Congress MP Abhishek Banerjee launched a strong attack on the Modi government, alleging that the Union Budget lacks clarity or vision, that it has been rolled out to satisfy the coalition partners of the BJP and that it "was planned by two individuals to keep another two in good faith." The budget session of Parliament began on July 22 and, according to schedule, will end on August 12.

Discussions on Union Budget, Budget for Jammu and Kashmir to continue in Parliament today

New Delhi [India], July 24 (ANI): A <keyword id="4261957" type="General" weightage="20" keywordseo="general-discussion" source="Orion">general discussion</keyword> on the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> and the budget for the Union Territory of Jammu and Kashmir for the fiscal year 2024-25 will be held in the <keyword id="19895369" type="General" weightage="100" keywordseo="Rajya-Sabha" source="keywords">Rajya Sabha</keyword> later on Wednesday. <keyword id="19956758" type="General" weightage="20" keywordseo="finance-minister" source="keywords">Finance Minister</keyword> <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> presented both the Union Budget and the <keyword id="22525621" type="General" weightage="20" keywordseo="Jammu-and-Kashmir-Budget" source="keywords">Jammu and Kashmir Budget</keyword> in the House on July 23. The discussion is crucial as both the budgets shape the financial direction of the country and the Union Territory, respectively. The Union Budget outlines the government's revenue and expenditure plans for the upcoming fiscal year, while the budget for the Union Territory of Jammu and Kashmir is a significant event considering the developmental needs. As per the list of businesses of the Rajya Sabha, the discussion on these two budgets will be convened later in the day. The discussion over these two budgets is expected to start in the second half of the day. According to the list of business of the Rajya Sabha, the ministers that are set to lay the papers on the table are Jayant Chaudhary for the Ministry of Education; Pankaj Chaudhary for the Ministry of Finance; Nityanand Rai for the Ministry of Home Affairs; and Sukanta Majumdar for the Ministry of Education. Besides, Rajya Sabha Secretary General PC Mody will lay on the table the Public Accounts Committee reports. This includes the 124th Report on Construction of Toilets in Schools by CPSEs; the 125th Report on Rejuvenation of the Ganga (Namami Gange); the 126th Report on Avoidable Payment due to Non-Charging of Service Tax/GST from the Passengers; and the 127th Report on Action Taken by the Government on the Observations and Recommendations of the Committee contained in their 46th Report (16th Lok Sabha) on Implementation of the Public-Private Partnership Project at Chhatrpati Shivaji International Airport, Mumbai, among others. The reports were presented to the Speaker on February 23 and April 29, 2024, and to the Chairman, Rajya Sabha, on February 28 and May 13, 2024, before the dissolution of the 17th Lok Sabha. The Speaker had ordered the printing, publication and circulation of the reports. As per the business list of the Rajya Sabha, Union Minister for Parliamentary Affairs Kiren Rijiju will move the motion for election to the committee on the welfare of other backward classes. Kiren Rijiju will also move the motion for nomination to the committee on the welfare of scheduled castes and scheduled tribes. The motion for nomination to the committee on public accounts will also be moved by Union Minister Rijiju in the House today. Moreover, Kiren Rijiju will move the motion for nomination to the committee on public undertakings. Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 on Tuesday during the Monsoon Session of <keyword id="19895397" type="General" weightage="20" keywordseo="Parliament" source="keywords">Parliament</keyword>. Nirmala Sitharaman became the first finance minister to present seven consecutive budget speeches, surpassing former prime minister Morarji Desai's record of six consecutive budgets as finance minister between 1959 and 1964. In her seventh budget, Nirmala Sitharaman outlined key priorities aimed at fostering economic growth and creating ample opportunities. These included productivity and resilience in agriculture, employment, and skilling and services. Prime Minister Narendra Modi on Tuesday hailed the Union <keyword id="15478236" type="General" weightage="20" keywordseo="budget-2024" source="Orion">Budget 2024</keyword> presented by Finance Minister Nirmala Sitharaman. "This budget strengthens every section of society. It takes the country's poor, village and farmers on the path of prosperity," the prime minister said in a video message. The Prime Minister praised the budget, emphasising its potential for job generation by incentivizing the top 500 companies to recruit more youth and also induct interns. The PM said the budget would help India achieve its objective of becoming the third largest economy, besides laying a strong foundation for Viksit Bharat. Union Home Minister Amit Shah on Tuesday also said the Union Budget 2024-25 is game-changing and will go down in history for coupling Bharat's economic growth with the torque of its youth power. He also lauded the government's decision to provide training and internship programmes to youth. The Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, welcomed the Union Budget 2024 laid before Parliament on Tuesday. Calling the Union Budget 2024 a 'visionary document', Sonowal said, "The Union Budget, 2024 lays the roadmap for renewed and holistic growth towards Viksit Bharat. This visionary budget is aimed at empowering the 'Garib' (poor), 'Mahilayen' (women), 'Yuva' (youth), and Annadata' (farmers) so that the process of development reaches every citizen of the country." Assam Chief Minister Himanta Biswa Sarma said on Tuesday that Union Budget 2024 stands out for its unprecedented push towards employment generation and powering small businesses.

Rajya Sabha to hold general discussion on Union Budget, Jammu and Kashmir Budget today

New Delhi [India], July 21 (ANI): As the Union <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword>, <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword>, is set to present her seventh <keyword id="19908389" type="General" weightage="100" keywordseo="Union-Budget" source="keywords">Union Budget</keyword>, the <keyword id="21660910" type="General" weightage="20" keywordseo="Monsoon-Session" source="keywords">Monsoon Session</keyword> of Parliament will commence on July 22. With the presentation of this year's budget, Sitharaman will establish herself as the first Finance Minister to present seven consecutive budgets, breaking the record of Morarji Desai's six budget presentations. Desai, who was the country's Finance Minister from 1959 to 1964, presented a record six budgets for the country, of which five were full budgets and one was an interim budget. Like the previous few full Union Budgets, <keyword id="15478236" type="General" weightage="20" keywordseo="budget-2024" source="Orion">Budget 2024</keyword> will also be delivered in paperless form. An Interim Union Budget 2024 was presented on February 1, as the country was due for general elections. As part of the <keyword id="20321465" type="General" weightage="20" keywordseo="budget-preparation" source="keywords">budget preparation</keyword>, the Finance Ministry has completed several rounds of deliberations with different stakeholders of the economy. These meetings started on June 20, during which Sitharaman met representatives from trade unions, the education and health sectors, employment and skilling, MSMEs, trade and services, industry, economists, the financial sector and capital markets, as well as representatives from the infrastructure, energy, and urban sectors. During the meetings, economists discussed several critical issues, such as boosting capital expenditure and reducing the fiscal deficit. The group of economists suggested to the ministry that the focus should be on reducing the fiscal deficit in the upcoming budget, along with the need to generate employment growth. The industry body, the Confederation of Indian Industry (CII), suggested that the government increase capital expenditure in the upcoming budget. The economists also emphasised the need to enhance capital expenditure. Farmer associations urged the Finance Minister to enhance the budgetary allocation for the agriculture sector. Representatives from the skilling and employment sectors suggested ways to skill the youth for better utilization of the workforce. This year's Monsoon Session will have 19 sittings until August 12. The Modi government is expected to present six bills, among which the Aircraft Act and Parliament's nod for the budget of Jammu and Kashmir are prominent. The government will also present the Finance Bill after the announcement of the budget on July 23. Among the other bills, the disaster management law, the Bhartiya Vayuyan Vidheyak 2024, the Boilers Bill, the Coffee (Promotion and Development) Bill, and the Rubber (Promotion and Development) Bill will be tabled in this year's Monsoon Session. The Bhartiya Vayuyan Vidheyak 2024 will replace the Aircraft Act of 1934 and streamline regulations in the civil aviation sector, aiding industry players in the sector. The interim budget, tabled on February 1, addressed the financial needs of the intervening period until a government was formed after the Lok Sabha polls, after which a full budget was supposed to be presented by the new government in July. The Union Budget documents will be available on the "Union Budget Mobile App" for hassle-free access to budget documents by Members of Parliament (MPs) and the public. The app is bilingual (English and Hindi) and is available on both Android and iOS platforms. The app can also be downloaded from the Union Budget Web Portal (www.indiabudget.gov.in).

FM Sitharaman to present historic seventh consecutive Union Budget in paperless format

New Delhi [India], July 23 (ANI): <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword> <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> is set to present the <keyword id="15626720" type="General" weightage="20" keywordseo="Union-Budget-2024" source="Orion">Union Budget 2024</keyword> in Parliament today, marking her seventh consecutive budget and eclipsing the late Moraji Desai's record of six consecutive budgets, which is likely to focus on changes in the income tax structure and improving the ease of doing business in India. At 11 am today, the much-awaited full budget for 2024-25, the first under the Modi 3.0 government, will be presented on the floor of the Parliament. All eyes will be on the major announcements made by the finance minister and the government's forward-looking guidance about the overall economy. Sitharaman will lay on the table a statement (in English and Hindi) of the estimated receipts and expenditures of the government for the year 2024-25 in the Rajya Sabha. <div type="Article" hostid="261" msid="111946291" title="Union Budget 2024-25: Focus on employment, skilling, MSME and middle class" mstype="2" mssubtype="0"></div>She will table the budget one hour after the conclusion of the presentation of the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024-25 in the Lok Sabha. The Finance Minister also lay on the table, under subsection (1) of Section 3 of the Fiscal Responsibility and Budget Management Act, 2003, a copy each (in English and Hindi) of the following papers: medium-term fiscal policy strategy statement and macro-economic framework statement. The Finance Minister will further lay on the table statements (in English and Hindi) of the estimated receipts and expenditures (2024-25) of the Union Territory of Jammu and Kashmir (with the legislature). The interim budget, tabled on February 1, took care of the financial needs of the intervening period until a government was formed after the Lok Sabha polls, after which a full budget was to be presented by the new government. With this upcoming budget presentation, Finance Minister Nirmala Sitharaman will surpass the record set by former Prime Minister Morarji Desai, who presented five annual budgets and one interim budget between 1959 and 1964 as finance minister. The <keyword id="105431" type="General" weightage="20" keywordseo="budget-session" source="Orion">budget session</keyword> of Parliament began on July 22 and, according to schedule, will end on August 12. Before presenting the Budget, the finance minister will go to the North Block, where the Ministry of Finance is housed. She will meet the secretaries of her ministry, and later, along with them, she will reach the President's residence to get permission before presenting the Budget. About half an hour before the budget is presented, a Cabinet meeting headed by the prime minister is usually held, where ministers are briefed about the budget and Cabinet approval is taken. Putting aside the details of the upcoming budget, let us review the budget-making process and sequence of events typically followed. The Ministry of Finance typically issues circulars to all ministries, Union territories, States, and autonomous entities to send their demands and recommendations for the Union budget around September-October, with budgets typically tabled on February 1. Another key event before the budget presentation is the 'halwa ceremony'. A few days before the budget is presented, the government has a tradition of conducting a 'halwa ceremony', marking the start of budget document printing. The Halwa ceremony is significant as it also marks the beginning of a lockdown at the finance ministry, meaning no official is allowed to leave the ministry compound. Everyone on the budget team is allowed to leave only after the financial document is presented in Parliament. The printing of the Union Budget inside the basement located in the North Block has been a permanent feature since 1980. A day before the budget is scheduled to be tabled, the government typically releases its Economic Survey. This year, too, the same norms were followed. The Economic Survey serves as a crucial input for budget formulation. It is prepared by the Chief Economic Advisor and provides an overview of the country's economic performance, prospects, and policy recommendations, including future outlook. India is poised to remain the fastest-growing major economy in 2024-25, Chief Economic Adviser V Anantha Nageswaran said in a press conference after the tabling of the Economic Survey. The Economic Survey tabled projected India to grow at 6.5-7.0 percent in 2024-25. As per the Economic Survey 2023-24 tabled by Finance Minister Nirmala Sitharaman, the Indian economy is on a strong and stable footing, demonstrating resilience in the face of geopolitical challenges. The first Economic Survey reportedly came into existence in 1950-51, when it used to be a part of the budget documents. In the 1960s, it was separated from the budget documents and presented a day before the Union Budget. The budget, once it is presented, is then subjected to detailed debate and discussion in both houses of Parliament, allowing members to scrutinise its provisions, raise concerns, and propose amendments. Following its presentation and approval by Parliament, the Union Budget sets in motion a series of post-budget activities aimed at implementing its provisions and achieving the outlined objectives. Like the previous few full Union budgets, the Budget 2024 will also be delivered in paperless form. An Interim Union Budget 2024 was presented on February 1, as the country was due for general elections later in the year. All the Union Budget documents, including the Annual Financial Statement (commonly known as the Budget), Demand for Grants (DG), and Finance Bill, as prescribed by the Constitution, will be available on the "Union Budget Mobile App" for hassle-free access to budget documents by Members of Parliament (MPs) and the public. The app is bilingual (English and Hindi) and available on both Android and iOS platforms. The app can also be downloaded from the Union Budget Web Portal (www.indiabudget.gov.in). SEE ALSO: <a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" data-type="tilCustomLink" target="_blank">Union Budget 2024 Live Updates: PM Modi arrives in Parliament ahead of Budget 2024 presentation</a> <a href="https://www.businessinsider.in/budget/news/why-did-the-latest-economic-survey-of-india-heavily-shun-the-western-ways-of-climate-action/articleshow/111947230.cms" data-type="tilCustomLink" target="_blank">Why did the latest Economic Survey of India heavily shun the ‘Western ways’ of climate action?</a>

Here's a quick overview of PM Modi 3.0 government's first budget, to be presented by FM Nirmala Sitharaman today

New Delhi [India], February 1 (ANI): Ahead of the presentation of the interim budget 2024-2025, Union Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> arrived at the Ministry of Finance on Thursday. MoS finance Bhagwat Karad and Pankaj Chaudhary also accompanied her to the finance ministry. The Union Finance Minister will table the interim budget as the <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> polls are due to be held this year. This will be her sixth Budget as the Finance Minister and last in the second term of the Modi government. The interim budget will take care of the financial needs of the intervening period until a government is formed after the Lok Sabha polls. A full budget will be presented by the new government. The Budget Session of Parliament commenced on Wednesday with President Droupadi Murmu addressing a joint sitting of Lok Sabha and <keyword id="19895369" type="General" weightage="20" keywordseo="rajya-sabha" source="keywords">Rajya Sabha</keyword>. <keyword id="19916494" type="General" weightage="20" keywordseo="sitharaman" source="keywords">Sitharaman</keyword> equaled the record of former Prime Minister Morarji Desai, who as finance minister, presented five annual budgets and one interim budget between 1959 and 1964. In her address, the President said 2023 was a historic year for the country and among other steps, the country kept up the momentum of being the fastest-growing major economy. "The year 2023 was a historic year for <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> when it grew the fastest among major economies despite the global crisis. India grew about 7.5 per cent for two consecutive quarters," she said. The last session before Lok Sabha polls, expected to be held in April-May this year, will have a total of eight sittings spread over 10 days. A day before the session was set to start, Parliamentary Affairs Minister Pralhad Joshi, at an all-party meeting, said the budget session would mainly be devoted to the financial business relating to the interim union budget for 2024-25 and discussion on the Motion of Thanks on the President's Address. However, essential legislative and other business may also be taken up during this session. The all-party meeting was attended by 45 leaders from 30 political parties. In addition, he also informed that Supplementary Demands for Grants for 2023-24 in respect of the Union Government will be discussed. The presentation and discussion on the Interim Budget of the Union Territory of Jammu and Kashmir for 2024-25 along with Supplementary Demands for Grants of Union Territory of Jammu and Kashmir for the financial year 2023-24 will also be taken up and voted. The Indian economy is projected to grow close to 7 per cent in the financial year 2024-25 which starts this April, said the Ministry of Finance in a review report. India's economy grew 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22. The Indian economy is expected to grow 7.3 per cent in the current financial year 2023-24, remaining the fastest-growing major economy. The last full Budget of Modi government 2.0 had proposed to increase capital expenditure outlay by 33 per cent to Rs 10 lakh crore in 2023-24, which would be 3.3 percent of the GDP. It was almost three times the outlay in 2019-20. (ANI)

Nirmala Sitharaman arrives at Finance Ministry ahead of Budget 2024

The people have high expectations from the <keyword id="4183143" type="General" weightage="50" keywordseo="rail-budget" source="Orion">Rail Budget</keyword> as the Union Finance Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> will present her fifth <keyword id="6358021" type="General" weightage="80" keywordseo="budget" source="Orion">Budget</keyword> on February 1. In its first term, the Modi government the Centre had linked the Rail Budget with the General Budget, under which the money for the <keyword id="6356740" type="General" weightage="100" keywordseo="railway" source="Orion">Railway</keyword>s is now provided. According to the information, the Centre is going to increase the Railway Budget this time by up to 20 per cent. Earlier, in the pre-Budget meeting, the Railway Board demanded 25-30 per cent more funds in the allocation of the Finance Ministry. In such a situation, the government can give a fund of about Rs 2 trillion to the Ministry of <keyword id="6360676" type="General" weightage="80" keywordseo="railways" source="Orion">Railways</keyword> in the Budget leading to an atmosphere of enthusiasm in sectors related to the Railways. There have also been various demands from the passengers. This is the last full Budget of the Modi government before the upcoming Lok Sabha elections. Along with this, before the 2024 Lok Sabha polls, elections will be held in 10 states of the country in this year, including big states like Rajasthan, Chhattisgarh, Madhya Pradesh, Karnataka, Telangana and Tripura, Meghalaya, Nagaland and Mizoram in the Northeast. Elections can be held in Jammu and Kashmir this year. In this Railway Budget, the Central government can announce many new railway facilities for passengers. It is believed that this time, the Rail Budget can prove to be an election budget, especially in those states where elections are to be held. This may result in some special announcements from the Centre for these states. However, the Union Ministry of Railways so far has achieved Rs 42,370 crore more revenue as compared to the previous financial year. The Railway's income has increased by 71 per cent, whereas earlier in 2021, there was a loss of Rs 26,338 crore, which led to the government decreasing the concessions provided to the common people. In view of the strong figures of Railways earnings, people from all sections have raised demands to again implement the subsidies, including the one where senior citizens above 60 years of age used to get up to 50 per cent discount before the Covid-19 pandemic, which has now been discontinued. According to the Railways, there is no plan in this Budget to give concession in rail tickets to senior citizens. The Central government will invest mostly in the modernisation of the Railways. Railways have also been focusing on building better domestic infrastructure for manufacturing trains. In this, plans are also being made to reduce foreign dependence. In this Budget, emphasis can be laid on making new Vande Bharat Express trains and Vande Bharat 2.0 with sleeper berth facilities. This train will work like the Rajdhani Express in which passengers will get the facility of sleeper AC coaches. In the Rail Budget 2023, a scheme of Rs 2.70 lakh crore can be announced for 500 Vande Bharat trains, 35 hydrogen trains, 5000 LHB coaches and 58000 wagons. Significantly, during the announcement of the last Rail Budget, the Finance Minister announced the National Rail Plan 2030, under which preparations were made for the development of the Railways. The Centre had talked about investing Rs 1 lakh crore, for the same. By December 2023, 100 per cent electrification of broad gauge railways will be completed. Similarly, a metro rail system is being prepared in two cities of the Tier-2 category and outer parts of Tier-1 category cities, under which Indian Railways will become the world's first 100 per cent green rail service by the end of this year. Along with this, the Centre can announce the adoption of hyperloop technology in the rail budget. In this, pods carrying passengers travel through tubes or tunnels. This technology is faster than bullet trains. Along with this, the government can make announcements regarding infrastructure in this Budget. However, under Vision 2024 projects, in the second half of the decade, multitracking and signalling upgrades of congested routes are targeted, in addition to the commissioning of new dedicated freight corridors and high-speed passenger corridors. The new railway track will be a part of the new vision document of Indian Railways and will be completed in a phased manner. In the next financial year, a target of laying about 4,000 km long lines can be fixed. An announcement to electrify a 7,000 km broad gauge line in the upcoming Budget can also be expected with an allocation of Rs 10,000 crore. With the electrification of a 7,000 km long broad gauge line, the target of electrifying the entire railway network will be achieved. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/govt-may-not-announce-capital-infusion-for-psu-banks-in-budget-2023-24/articleshow/97247553.cms">Govt may not announce capital infusion for PSU banks in Budget 2023-24</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/canara-bank-q3-profit-surges-92-to-2882-crore/articleshow/97245895.cms">Canara Bank Q3 profit surges 92% to ₹2,882 crore</a>

Railway Ministry sets in motion ₹ 2-trillion budgetary push

<ul><li>Three major films – <keyword id="198679" type="PERSON" weightage="20" keywordseo="Haider">Haider</keyword>, Fanaa and Mission Kashmir – offer a more nuanced look at the most militarised zone in the world than Indian history books. </li><li>the New Delhi board-designed syllabus of the Indian Council of School Examinations did not mention the special status of the state of <a href="https://www.scmp.com/topics/kashmir" class="link-text">Jammu and Kashmir</a>, the only Muslim-majority state in <a href="https://www.scmp.com/topics/india" class="link-text">India</a></li></ul> In school, the New Delhi board-designed syllabus of the Indian Council of School Examinations did not mention the special status of the state of <a href="https://www.scmp.com/topics/kashmir" class="link-text">Jammu and Kashmir</a>, the only Muslim-majority state in <a href="https://www.scmp.com/topics/india" class="link-text">India</a>.There are separate Indian state boards as well. I studied under a central board. We did not learn about the circumstances under which the state joined the Indian Union, nor that Kashmir is the most militarised zone in the world in terms of the number of armed forces personnel per square km of territory. Through my school years in the 1990s, there were news stories from the state about blasts and killings and terrorists, seemingly always about violence. Did they delve into the background of the anger? I don’t know because I did not go beyond the headlines. There was a sameness and one-sidedness to them – invariably images of fire and guns and empty streets – that never invoked interest. When the television news business arrived in a big way in India, this impression was amplified – Hollywood action movie-style visuals of gunfire and explosions and people running for cover, or reporters reporting amid the silence of empty streets patrolled by army men with enormous guns strapped to their bodies. Bombast with no context. This is unsurprising, because journalists’ access to the Valley is mediated through the army, making them structurally dependent on the armed forces and predisposing them to be favourable to their perspective. When <a href="https://www.scmp.com/topics/narendra-modi" class="link-text">Narendra Modi</a> ran for prime minister in 2014, his Bharatiya Janata Party’s manifesto promised that <keyword id="405091" type="PERSON" weightage="20" keywordseo="Article-370">Article 370</keyword>, which spelt out the special conditions under which the province joined the Indian Union at the time of Independence, would be removed. For a populace that was, like me, mostly unaware of its content, it was easy to latch on to simplified nuggets such as the fact that Kashmir does not allow land to be sold to Indians from other states. It sounds like a concession made to a Muslim-majority state but this land restriction exists in several states in India, and is important to prevent heedless development in ecologically sensitive areas. Strange as it may sound, it is the <a href="https://www.scmp.com/week-asia/society/article/2184614/triumph-modi-propaganda-bollywood" class="link-text">Hindi film industry</a> that has taught me the little I understand about the anger in Kashmir, about the “special” powers of the armed forces stationed there and the “special” consequences they inflicted. Three Bollywood films in particular have left an impact – Haider (2014), Fanaa(2006) and Mission Kashmir (2000). There have been several indie films, extremely well-regarded, but I choose to focus on the big-budget, big star projects of the film industry because these arguably had the widest release and reach. Haider is a reworking of Shakespeare’s Hamlet, set in the “rotten state” of Kashmir in place of Denmark. The setting is much more central to the drama here than it is in Hamlet where the rottenness of Denmark was expressed only in the suspicious death of the king. Here, politics is central to Haider’s father’s disappearance from Kashmir. We never know for certain if he is alive or dead, and this, as we see in the film, is the situation that many Kashmiri families find themselves in. <h3 style="margin-bottom: 1.42857rem; font-variant: inherit; font-weight: 300; font-stretch: inherit; font-size: 1.71429rem; line-height: 2.35714rem; font-family: Roboto, sans-serif; vertical-align: baseline; display: inherit;"> </h3>The evocative term half-widow has arisen from this waiting without end – this is the status of Haider’s mother and many other wives who don’t know what has become of their husbands. In the uncertainty about his father (and the many fathers and brothers and sons who have been taken into custody by the forces in Kashmir and never returned), Haider (and Kashmir) is going mad. Gravediggers sing songs, they are so inured to death. Citizens hesitate to enter their own homes without a pat-down security check, they are so conditioned to being checked. Mothers beg that their sons are sent away from them because they are so afraid of losing them to the insurgency or to the limitless powers of the Indian army. Most of all, the film articulates the Armed Forces Special Powers Act (AFSPA) that the Indian government has imposed on the Valley, how terrifying it is when men with guns have boundless power and no one to question them. Rapes and disappearances ensue, and there is no need to answer what happened because Afspa gives you “special powers”. “Do we exist or do we not”, the film asks in a haunting choral crescendo reminding us of that original line in Hamlet, “to be or not to be”. In Fanaa (2006), a blind Kashmiri woman and a terrorist fall in love with each other during India’s Independence Day celebrations in Delhi. He is there to carry out a blast and she to dance at the national celebration: classical opposites, the nationalist and the revolutionary. After the blast, the terrorist disappears because he comes to the realisation that he would put the woman in danger because of his work. The nationalist’s blindness means she cannot locate him. Years later, fate returns him to her doorstep in Kashmir and the two reconcile briefly before she hands him over to the Indian national forces. Fanaa is nowhere near as compelling or thought-provoking as Haider, it is simply a star-crossed romance set in Kashmir. But it ends on a pointedly ambiguous note. When the couple’s son asks the mother why his father was a terrorist, she replies that he did what he thought was right. The film clearly argues that the terrorist is misguided by malevolent forces yet it refrains from making a moral call on the terrorist’s actions. Mission Kashmir (2000) is about a powerful policeman whose son dies when militants forbid doctors from treating the child. In an episode of poetic justice, the policeman kills a boy’s family in an encounter and adopts the traumatised boy. This encounter is likely carried out with the vast powers granted to Indian forces under the Afspa, certainly no questions are asked of the policeman after the encounter. But the man himself is hollowed by remorse, especially at the sight of the boy who lived. He becomes a terrorist, determined to avenge his family’s gruesome end. That classic divide is set up again, terrorist against dutiful nationalist in a land where loyalties are sharply divided. Eventually, the terrorist comes around to the Indian nation’s view, that Islamist groups are provoking young men like him to divide India. Like Haider, Mission Kashmir questions the actions of Indian forces in Kashmir, though the conclusions the two films come to are different. The policeman’s remorse suggests that the Indian state has a lot to think about and apologise for, that the unchecked power that it has granted its forces leads to <a href="https://www.scmp.com/thisweekinasia/topics/human-rights" class="link-text">human rights</a> violation that feeds the insurgency in the Valley. Haider on the other indicts the Indian state for unleashing this unapologetic, shameless military strength on the Valley. Incidentally, Mission Kashmir is made by a director who is from Kashmir himself. Haider, similarly, is written by Basharat Peer who is also a Kashmiri and has written a highly-acclaimed book on Kashmir called Curfewed Night. Both films are informed by a lived perspective of Kashmir. On August 8, 2019, when Prime Minister Modi addressed Indian citizens on Kashmir, he mentioned the prospects for films. “I urge the Hindi, Telugu and Tamil film industry to come to J&amp;K for shooting their projects,” said Modi. The Hindi film industry has long indicated that Kashmir has a special place by marketing movies filmed in the Valley, naming films using Kashmir in the title and using iconography identified as Kashmiri like the houseboat and the chinar leaf. No other Indian state has been marked as “special” like this by the Hindi film industry. There are films named after big cities like Kolkata and Mumbai and Delhi, but nothing after an entire cultural identity. Until Mission Kashmir, however, these films only did lip service to Kashmir, promoting a tourist’s view of the state, a natural “paradise” where hero and heroine fell in love. These films were not rooted in Kashmir, disengaged from its problems. Mission Kashmirnaturally is a product of its times, born out of a decade-plus of the insurgency that flared in the Valley in the late 1980s. Thereafter, as the unrest never subsided, there have been several films which offer an insider’s view of Kashmir. <h3 style="margin-bottom: 1.42857rem; font-variant: inherit; font-weight: 300; font-stretch: inherit; font-size: 1.71429rem; line-height: 2.35714rem; font-family: Roboto, sans-serif; vertical-align: baseline; display: inherit;"><a href="https://www.scmp.com/week-asia/politics/article/3022046/indias-kashmir-move-attempt-shift-its-muslim-demographic" class="link-text">India’s Kashmir move: an attempt to shift its Muslim demographic? </a></h3>I’ll end with one of the opening sequences of Haider, where his (Hamlet’s) mother, a schoolteacher, is teaching the children of her class the meaning of home. “It is brothers and sisters and fathers and mothers. It is unselfish acts and kindly sharing and showing your loved ones you are always caring.” It is an obvious metaphor for the Indian nation and its fraught relationship with Kashmir, the parents and the estranged child. The filial bond is often invoked for India and <a href="https://www.scmp.com/topics/pakistan" class="link-text">Pakistan</a>– brothers separated in a bloodied moment.But there is also another metaphor here: the Indian state teaching us the history of our “home”, and our duties as citizens and how we should live like brothers and sisters at home, “unselfish acts and kindly sharing”. It brings me back to where I started, what we are taught about our home and what we are not. Every nation controls its citizenry through education and so does India. We never learned the conditions in which Kashmir joined the Indian Union, and the circumstances we created to keep it at any cost. Perhaps it is not so strange then that I learned what little I did about Kashmir from our biggest film industry. For all its commercial inclinations, its lessons feel less biased than that of the Indian state’s.

Bollywood teaches more about Kashmir than India’s schools

<ul><li><keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> will reportedly attend security meeting on <keyword id="43212" type="LOCATION" weightage="20" keywordseo="Pulwama">Pulwama</keyword> attack. </li><li>Jaitley had handed over charge to interim finance minister <keyword id="6355222" type="PERSON" weightage="20" keywordseo="piyush-goyal">Piyush Goyal</keyword>.</li></ul>Arun Jaitley has resumed office as India’s finance minister three weeks after he temporarily handed over charge to Railway Minister Piyush Goyal, according to media reports. Jaitley had been away on medical treatment to the US. Goyal had served as interim finance minister and presented the recent government budget. Jaitley will attend a cabinet security meeting today to discuss Thursday’s militant attack in Pulwama, Kashmir, NDTV <a href="https://www.ndtv.com/india-news/arun-jaitley-back-as-finance-minister-will-attend-security-meeting-on-pulwama-attack-today-1993876?pfrom=home-livetv">reported.</a> The suicide-bomber attack killed at least 45 security personnel and injured many others, in what is the deadliest in the valley in two decades. In the aftermath of the attack on Thursday, Jaitley tweeted a stern warning to the militant outfit saying "terrorists will be given unforgettable lesson for their heinous act." On Thursday, an explosive-laden van rammed into a bus carrying security personnel from India’s Central Reserve Police Force, which is responsible for day-to-day security and helping the Indian army in the Kashmir valley. Jaish-e-Mohammad (JeM), a Pakistan-based militant outfit has claimed it is behind Thursday’s attack. Pakistan has meanwhile denied it had any links to the attack. Jaitley is also expected to chair a meeting on the Goods and Services Tax (GST) on Wednesday, Financial Express <a href="https://www.financialexpress.com/india-news/back-at-helm-arun-jaitley-likely-to-resume-charge-as-finance-minister-on-monday/1488187/">reported.</a> With IANS SEE ALSO: <a href="https://www.businessinsider.in/pulwama-attack-on-crpf-in-kashmir-condemned-by-pm-modi/articleshow/67997003.cms">India vows an ‘unforgettable lesson’ for the terrorists who killed 42 troopers</a> <a href="https://www.businessinsider.in/pulwama-terror-attack-toll-rises-to-45/articleshow/68002589.cms">Pulwama terror attack toll rises to 45</a>

Arun Jaitley to resume office as India’s finance minister

<ul><li>Finance Minister Nirmala Sitharaman today assured that all the divestments announced so far will be completed by the end of 2021-22.</li><li>The companies where divestment is announced includes BPCL, Concor, Pawan Hans and more.</li><li>The target is to raise as much as ₹1.75 lakh crore.</li></ul>Finance Minister Nirmala Sitharaman today said that senior citizens aged 75 years and above who are living only on pension and interest income need not file income tax returns. “I offer them a pranam and as India completes 75 years of independence, and move to reduce their compliance burden,” said Sitharaman. She also eased the painstaking prices of return filing for everyone by announcing that in addition to TDS and salaries that come pre-filled, details like capital gains and interest from post and other investments will also come pre-filled. Sitharaman also extended tax holiday to startups and affordable housing projects by one year. The FM also ensured housing for migrant workers by exempting notified affordable rental projects from tax. She also ensured that migrant and gig workers receive minimum wages by covering them under the act. “All categories of workers will be covered by it. Social security will be provided to gig and platform workers,” she said, adding that this announcement will conclude the process that started 20 years ago. Sitharaman also said that migrant, construction and gig workers will be registered on a portal and ensure that they receive health and insurance benefits. Women can also take up all jobs including night shifts provided they receive substantial protection. Finance Minister Nirmala Sitharaman today assured that all the divestments announced so far will be completed by the end of 2021-22. The target is to raise as much as ₹1.75 lakh crore by the end of next year. The companies where divestment is announced includes BPCL, Concor, Pawan Hans and more. Added to that, the government will also prepare a new list of divestments and also form a special purpose vehicle (SPV) to monetize lands owned by it. Free gas connections will now reach 9 crore Indian homes that live below the poverty line. Finance Minister Nirmala Sitharaman today expanded the Ujjvala scheme by adding a crore more beneficiaries. Also, 100 more districts will be connected by the city gas pipeline and said that a new gas pipeline project will kickstarted in Jammu and Kashmir. Sitharaman also proposed a sharp increase in capital expenditure to ₹5.54 lakh crore in the Union Budget 2021, which is 44.5% higher than last year’s expenditure of ₹4.39 lakh crore. “More than ₹2 lakh crore will be given to states and autonomous bodies for their capital expenditure. We will nudge states to spend more on infrastructure creation,” she said. She also announced an Atmanirbhar Health Yojana with an outlay of ₹64,180 crore over 6 years. The government will also strengthen the National Center for Disease Control and will set up 15 health emergency centers. She also provided a boost to the auto sector with a voluntary vehicle scrapping policy where passenger vehicles older than 20 years will undergo fitness tests. “The three Atmanirbhar packages and two measures taken by the RBI are like five mini Budgets,” she said, adding that they accounted for ₹27.1 lakh crore and 13% of GDP. This is the first ever Union Budget after the Covid-19 pandemic where a large number of sectors that have been hit, are hoping for revival packages. At the same time, many sectors like education and technology are hoping for larger allocations to handle the transformatory effect that the pandemic has had on them. The financially stressed citizens, on the other hand, are expected some let up in income tax. The government itself is facing a large chunk of expenditure on healthcare as it has already started a massive vaccination drive that will eat into the Budget itself. And experts hope that more announcements on privatisation of assets are heavily expected this year. “I think the government should go through with surgical execution of privatisation plans,” Uday Kotak, chairman of Kotak Mahindra Bank, said right before the Budget announcements.

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Discussions on Union Budget, Budget for Jammu and Kashmir to continue in Parliament today

ANI

Rajya Sabha to hold general discussion on Union Budget, Jammu and Kashmir Budget today

ANI

FM Sitharaman to present historic seventh consecutive Union Budget in paperless format

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Here's a quick overview of PM Modi 3.0 government's first budget, to be presented by FM Nirmala Sitharaman today

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Railway Ministry sets in motion ₹ 2-trillion budgetary push

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Bollywood teaches more about Kashmir than India’s schools

SCMP

Arun Jaitley to resume office as India’s finance minister

BI India Bureau

Union Budget 2021 highlights: Pensioners over 75 years need not file IT returns, says FM

BI India Bureau

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