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<ul><li>Central Railways is hiring 2,422 apprentices across various clusters like Mumbai, Pune, Nagpur.</li><li>The last date to fill out the application form is February 16.</li><li>Candidates will have to pay an application fee of ₹100 through online mode.</li></ul>The railway recruitment cell of Central Railway is inviting applications from eligible candidates to fill up 2,422 apprenticeship posts across various clusters like Mumbai, Pune, Nagpur. The online application has already begun and the last date to apply for the opportunity is 5 p.m., February 16. Candidates will be paid a minimum stipend as per the apprenticeship rules 1992. Candidates will be paid the stipend in this manner — <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">First year of the training </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">70% of minimum wage of semiskilled workers notified by the respective State or Union Territory. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Second year of the training </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">80% of minimum wage of semiskilled workers notified by the respective State or Union Territory. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Third year of the training </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">90% of minimum wage of semiskilled workers notified by the respective State or Union Territory. </td></tr></tbody></table> These are the number of vacancies available in different clusters — <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Clusters </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of vacancies </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai Cluster </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,659 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bhusawal Cluster </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">418 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pune Cluster </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">152 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nagpur Cluster </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">114 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Solapur Cluster </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">79 </td></tr></tbody></table> Eligibility criteria for the roles — <ol><li>The maximum and minimum age of the candidates should be 24 years and 15 years, respectively. </li><li>The candidates must have passed class 10 or 12 with minimum 50% marks from recognised boards. </li><li>Candidates should also possess a national trade certificate issued by the National Council for Vocational Training or Provisional Certificate issued by National Council for Vocational Training/State Council for Vocational Training. </li></ol>Candidates will also have to pay an application fee of ₹100 through online mode. All the necessary information is available <a href="https://www.rrccr.com/PDF-Files/Act_Appr_21-22/Act_Appr_2021-22.pdf">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/union-health-ministry-asks-states-to-ramp-up-testing-including-asymptomatic-contacts/articleshow/88976075.cms">Union health ministry asks states to ramp up testing including asymptomatic contacts</a>

Railway recruitment 2022: Over 2,400 apprenticeship posts announced, check out last date and other details

<ul><li><keyword id="61108" type="General" weightage="20" keywordseo="North-Central-Railway" source="Orion">North Central Railway</keyword> is recruiting 1,664 people for apprenticeship posts across various domains.</li><li>Selected candidates will go under apprenticeship training for the period of one year.</li><li>Interested candidates can apply on the official website of the <keyword id="1112888" type="General" weightage="20" keywordseo="railway-recruitment-cell" source="Orion">Railway Recruitment Cell</keyword> (RRC) of the North Central Railways.</li></ul>North Central Railway is inviting applications for 1,664 apprenticeship posts across various domains in these divisions — Prayagraj, Jhansi, Workshop Jhansi, and Agra. The last date to apply for the opportunity is December 1, 2021. Interested candidates can apply on the official website of the <a href="http://rrcprjapprentices.in/">Railway Recruitment Cell</a> (RRC) of the North Central Railways. These are the trade profiles in which vacancies are available — electrician, painter, carpenter, mechanic, machinist, welder, information and communication technology system maintenance, stenographer, crane operator, plumber, operator -- electronics communication system, web page designer and wireman. Selected candidates will go under apprenticeship training for the period of one year. These are the number of vacancies available in each division — <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Division </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of vacancies </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prayagraj </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">703 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jhansi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">480 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Workshop Jhansi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">185 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Agra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">296 </td></tr></tbody></table> Eligibility criteria for the roles — <ol><li>The minimum age criteria is 15 years and the maximum age is 24 years as of December 1, 2021. </li><li>Candidates must have passed class 10 or equivalent with minimum 50% marks. </li><li>Applicants must have Industrial Training Institutes (ITI) or national certificate (affiliated with National Council of Vocational Training (NCVT) or State Council of Vocational Training (SCVT)) for their respective trade. </li><li>Applicants should have already passed the above qualifications before October. </li></ol>Other rules and regulations — <ol><li>Applicants failed in ITI are not eligible to apply for the opportunity. </li><li>Engineering graduates and diploma holders are also not eligible to apply for the apprenticeship programme. </li><li>The selection of the candidates will be done on the basis of marks scored in class 10 and ITI certificates. No written test or viva will be conducted. </li><li>Candidates undergoing the apprenticeship programme will be paid a monthly stipend depending upon the role. </li></ol>Candidates will also have to pay a non-refundable application fee of ₹100. Women applicants or candidates belonging to scheduled castes (SC)/scheduled tribes (ST)/person with disabilities (PwD) are exempted from paying any fee. Candidates can wish to seek more information <a href="https://rrcpryj.org/Downloads/Notification-Act-Apprentices-02-2021.pdf">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/central-bank-of-india-is-hiring-for-115-vacancies-across-various-domains/articleshow/87847026.cms">Central Bank of India is hiring for 115 vacancies across various domains</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/amazon-vs-future-supreme-court-irked-by-voluminous-filings/articleshow/87867769.cms">Amazon vs Future — 'Why file voluminous records, to harass judges?' Supreme Court asks</a>

Railway recruitment 2021: Checkout the vacancies, last date, eligibility criteria and how to apply

The online application process for Western Railway Apprentice programme has begun today i.e. January 7, 2020. With this, the railway body plans to hire as many as 3,553 apprentices in Mumbai, Maharashtra. The salary compensation for the selected candidates will vary from ₹18,000 to ₹57,000 a month. The last date to apply is February 6, 2020 at 5 pm and interested candidates can visit the official website rrc-wr.com to apply online. The vacant posts are open to all the candidates who have passed class 10 with minimum 55% marks and have an ITI certificate — which is extended by Industrial Training Centres under the Ministry of Skills Development and Entrepreneurship. The candidates will be shortlisted based on merit and there will be no written test or interview. The application fee for general category candidates is ₹100 while there is no charges for women applicants and candidates from the reserved categories. The upper age limit to apply for the vacancies is 24 years.

Western railway recruitment 2020: online application opens today, last date to apply is February 6

<ul><li><keyword id="573944" type="General" weightage="80" keywordseo="eastern-railways" source="Orion">Eastern Railways</keyword> is recruiting 2972 apprenticeship posts for training in workshops and divisions.</li><li>The online application window will open on April 11 and the last date to apply for the opportunity is May 10.</li><li>Candidates belonging to general category are required to pay an application fee of ₹100 while filling up the online application form.</li></ul><keyword id="6561875" type="General" weightage="100" keywordseo="eastern" source="Orion">Eastern</keyword> Railways is inviting applications from eligible Indian candidates to fill up 2972 apprenticeship vacancies for a training period in workshops and divisions of Eastern Railway. The online application window will open on April 11 and the last date to apply for the opportunity is May 10. These are the vacancies in Eastern Railways for apprenticeship posts — <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Post </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of vacancies </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Howrah Division </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">659 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Liluah Division </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">612 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sealdah Division </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">297 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kanchrapara Division </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">187 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Malda Division </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">138 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asansol Division </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">412 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jamalpur Division </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">667 </td></tr></tbody></table> Eligibility criteria for the posts — <ol><li>The minimum age criteria for the post is 15 years and the maximum age is 24 years. </li><li>The candidate must have passed the 10th class examination or its equivalent with minimum 50 percent marks from a recognised board and also should possess the National Trade Certificate in the notified trade issued by the National Council of Vocational Training (NCVT)/State Council of Vocational Training (SCVT). </li><li>However, for these trades the minimum educational qualification is 8th class from recognised board/school — welder, sheet metal worker, lineman, wireman, carpenter, and painter.</li></ol> Selection process — The selection of a candidate for training slot of a unit of Eastern railway will be on the basis of merit prepared in respect of all eligible candidates, who apply against the notification. Candidates belonging to general category are required to pay an application fee of ₹100 while filling up the online application form. Interested ones can apply online <a href="https://er.indianrailways.gov.in/">here</a> and seek more information <a href="https://139.99.53.236:8443/rrcer/Notification%20for%20Engagemnet%20of%20Act%20Apprentices%20for%20Trg.%20Slots%20in%20Units%20of%20E.%20Rly.%20for%202021-22.pdf">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/heres-how-you-can-use-the-iphones-emergency-sos-that-saved-a-man-on-the-swiss-mountains/articleshow/90702665.cms">Here’s how you can use the iPhone’s emergency SOS that saved a man on the Swiss mountains</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/cz-zhao-sam-bankman-fried-and-others-on-full-list-of-crypto-billionaires-2022/articleshow/90702273.cms">Seven more crypto billionaires have emerged this year</a>

Eastern Railways is hiring apprentices for various divisions — checkout eligibility criteria, vacancies and other details

As expected, leaders from the Bharatiya Janata Party (<keyword id="19894848" type="General" weightage="20" keywordseo="BJP" source="keywords">BJP</keyword>) cannot stop singing praises of the Union Budget 2024-2025 presented by Finiance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> earlier today. However, moments after <keyword id="20385790" type="General" weightage="20" keywordseo="Union-Finance-Minister" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Finance Minister" meta.hostid="261" meta.entityid="Union Finance Minister">Union Finance Minister</keyword> Nirmala Sitharaman presented the <keyword id="19955368" type="General" weightage="100" keywordseo="Budget-2024" source="keywords">Budget 2024</keyword> in Parliament, the <keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="261" meta.entityid="Congress">Congress</keyword> party launched a critical attack on the ruling Centre. They claimed that portions of the fiscal document had been lifted directly from their <keyword id="19977669" type="General" weightage="20" keywordseo="Manifesto" source="keywords">manifesto</keyword> for the Lok Sabha elections held earlier this year. <h2><keyword id="19895780" type="General" weightage="20" keywordseo="Rahul-Gandhi" source="keywords">Rahul Gandhi</keyword>'s "Kursi Bachao" Budget comment</h2>Leader of Opposition Rahul Gandhi criticised the Budget, describing it as the "Kursi Bachao" (Save the Seat) Budget, aimed at appeasing the BJP's allies and cronies. He alleged that the document was copied from the Congress party's Lok Sabha polls manifesto. "Kursi Bachao Budget. Appease Allies: Hollow promises to them at the cost of other states. Appease Cronies: Benefits to AA with no relief for the common Indian. Copy and Paste: Congress manifesto and previous budgets," Gandhi said in a post on X (formerly Twitter). <div type="twitter" handle="RahulGandhi" handlename="RahulGandhi" favoritecount="0" retweetcount="0" id="1815672226584166514"></div><h2><keyword id="19934649" type="General" weightage="20" keywordseo="P-Chidambaram" source="keywords">P Chidambaram</keyword> takes dig at the Nirmala Sitharaman</h2>Former Finance Minister and senior Congress leader P Chidambaram expressed his satisfaction over what he perceived as the government's adoption of ideas originally proposed by the Congress. "I am happy the Union Finance Minister has virtually adopted the Employment-linked Incentive (ELI) outlined on page 30 of the Congress Manifesto," tweeted Chidambaram. He further noted his approval of the introduction of an apprenticeship scheme with allowances for apprentices, a concept detailed on page 11 of the Congress Manifesto. <div type="twitter" handle="PChidambaram_IN" handlename="PChidambaram_IN" favoritecount="0" retweetcount="0" id="1815638125168783772"></div> <div type="twitter" handle="PChidambaram_IN" handlename="PChidambaram_IN" favoritecount="0" retweetcount="0" id="1815641688922063221"></div><h2><keyword id="19897159" type="General" weightage="20" keywordseo="Mallikarjun-Kharge" source="keywords">Mallikarjun Kharge</keyword> highlights 10 areas the Budget 2024 went wrong</h2>The President of the Indian National Congress Karge called the <keyword id="19916814" type="General" weightage="20" keywordseo="Modi-Government" source="keywords">Modi Government</keyword> a "copycat" while going on to suggest that they could not even copy Congress' justice agenda properly. Here’s an English translation of his tweet: “The Modi Government's budget is distributing half-hearted "rewadis" to dupe its coalition partners so that the NDA survives. This is not a budget for "progress of the country", it is a "save Modi government" budget! 1. After 10 years, limited announcements have been made for the youth who are bearing the brunt of the slogan of two crore jobs per year. 2. Only superficial talks have been held for farmers, one and a half times MSP and doubling of income - all turned out to be electoral fraud! This government has no intention of increasing rural wages. 3. There is no revolutionary scheme for Dalits, Adivasis, backward classes, minorities, middle class and rural poor people like the one implemented by Congress-UPA. The word "poor" has become just a means of self-branding, there is nothing concrete! 4. There is nothing in this budget for women that would enhance their economic capacity and enable them to participate more and more in the workforce. 5. On the contrary, the government is patting its back on the back for rising inflation; it is robbing people of their hard-earned money and distributing it among its capitalist friends! 6. Less money has been spent on agriculture, health, education, public welfare and tribals than the budget allocation because these are not the priorities of the BJP. Similarly, Rs 1 lakh crore less has been spent on Capital Expenditure, so how will jobs increase? 7. Urban Development, Rural Development, Infrastructure, Manufacturing, MSME, Investment, EV scheme - only Document, Policy, Vision, Review etc. have been discussed, but no major announcement has been made. 8. Railway accidents are happening every day, trains have been stopped, the number of coaches has been reduced, ordinary passengers are troubled, but nothing has been said about the railways in the budget, there is no accountability. 9. Nothing has been said about Census and caste census, whereas this is the fifth budget which is being presented without Census! This is a shocking and unprecedented failure - which is against democracy and the Constitution! 10. On 20 May 2024, i.e. during the elections, Modi ji claimed in an interview that "We already have a 100-day action plan "... When the Action Plan was there two months ago, they should have at least told it in the budget! There is no plan in the budget and BJP is only busy in the action of cheating the public.” <div type="twitter" handle="kharge" handlename="kharge" favoritecount="0" retweetcount="0" id="1815669463284416605"></div> <div type="Article" hostid="261" msid="111917247" title="Budget 2024: Can Lakhpati Didi Yojana’s reality inspire better focus on women?" mstype="2" mssubtype="0"></div><h2>Jairam Ramesh accuses Centre of stealing ideas from the Congress</h2>In her Budget address, Sitharaman announced that the government would provide a month's wage to all first-time employees in formal sectors. This direct benefit transfer, disbursed in three installments, will cover employees registered with the Employees’ Provident Fund Organisation (EPFO) and amount up to ₹15,000 per individual. The eligibility limit is set at ₹1 lakh per month, potentially benefiting 2.1 crore youth across the country. Congress MP and communications in charge Jairam Ramesh also accused the Finance Minister of taking ideas from the Congress's "Nyay Patra 2024." He claimed the internship program announced in the budget was a clear adaptation of the Congress's proposed Apprenticeship Program called "Pehli Naukri Pakki." He also insinuated that this particular scheme seemed to have been come up with in haste. <div type="twitter" handle="jairam_ramesh" handlename="jairam_ramesh" favoritecount="0" retweetcount="0" id="1815714388340568111"></div>Ramesh critiqued the government's approach, describing it as a "festive offer" designed to capture headlines with arbitrary targets, such as the promise of one crore internships. He argued that the Congress's vision offered a programmatic guarantee for all diploma holders and graduates, rather than the broad and unfocused targets announced by the government. <div type="Article" hostid="261" msid="111944393" title="Here&amp;#39;s a quick overview of PM Modi 3.0 government&amp;#39;s first budget, to be presented by FM Nirmala Sitharaman today" mstype="2" mssubtype="0"></div>Ramesh also pointedly criticised the government over a special package for Andhra Pradesh, highlighting a ₹15,000 crore allocation aimed at developing Amaravati, the state's capital city and a significant project for Chief Minister Chandrababu Naidu. "Why has it taken 10 years to announce that what was already committed to in the Andhra Pradesh Reorganisation Act, 2014 will be implemented?" questioned Ramesh in a post on X.

From ‘Copycat’ to ‘Kursi Bachao Budget' — Here’s what Rahul and other Congress leaders had to say about Budget 2024

<ul><li><keyword id="577860" type="General" weightage="100" keywordseo="bprd" source="Orion">BPR&amp;D</keyword> has rolled out a paid internship programme for students pursuing PG/M.Phil/PhD.</li><li>The last day to fill out the application form is February 28.</li><li>Selected candidates will be given a stipend of ₹8,000 per month.</li></ul>The <keyword id="163875" type="General" weightage="20" keywordseo="Bureau-of-Police-Research-and-Development" source="Orion">Bureau of Police Research and Development</keyword> (BPR&amp;D) is inviting applications for a paid internship programme from the students pursuing post graduation (PG) or master of philosophy (M.Phil) or Ph.D. degree, in New Delhi. The last date to apply for the internship programme is February 28. Selected candidates will be given a stipend of ₹8,000 per month with train fare (only for outstation candidates). The BPR&amp;D is offering two kinds of internship — One month with not less than 22 working days and 2 months with not less than 44 working days. The interns will work in one of the following divisions — Research and correctional administration, training, modernisation and technology development, national police mission, statistical &amp; publication,and administration. <cmsannotation type="cmsannotation" annotationid="Eligibility criteria for the internship programme —" comment="subhead" text="Eligibility criteria for the internship programme —">Eligibility criteria for the internship programme —</cmsannotation> <ol><li>Candidates pursuing PG/M.Phil/PhD in these subjects are only eligible for the programme — Criminology, sociology, social work, psychology, law, forensic psychology, human rights, public administration, public policy and governance, information technology, police and prison studies, cyber security, cyber forensics &amp; information security, police and prison administration, computer science, management or any other subjects related to police or prisons/correctional administration issues. </li><li>Students who have attended the internship programme in the BPR&amp;D earlier are not eligible to apply again. </li><li>Applications must be forwarded by the head of department of their university. Applications, which are not forwarded through the respective Heads of the departments of the university will be rejected. </li></ol>The interns will be required to submit the report on the tasks completed by them along with a report on field visits to the Nodal Officer for interns in each division, which will in turn be put up to the director. <cmsannotation type="cmsannotation" annotationid="Other rules and regulations —" comment="subhead" text="Other rules and regulations —">Other rules and regulations —</cmsannotation> <ol><li>The interns will have to attend the programme regularly without break. </li><li>The daily attendance will be marked in a register/attendance sheet. </li></ol><cmsannotation type="cmsannotation" annotationid="How to apply for the internship programme?" comment="subhead" text="How to apply for the internship programme?">How to apply for the internship programme?</cmsannotation> Candidates can fill out the application form available on the official website of <a href="https://bprd.nic.in/">BPR&amp;D</a>. The applications should be duly signed and sealed by the head of the department (HOD)/university attested with copies of mark-sheet. Candidates can seek more information <a href="https://bprd.nic.in/WriteReadData/News/Internship.pdf">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/sebi-is-hiring-young-graduate-professionals-for-a-monthly-stipend-of-60000-last-date-is-january-25/articleshow/89019465.cms">SEBI is hiring young graduate professionals for a monthly stipend of ₹60,000, last date is January 25</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/over-2400-apprenticeship-posts-announced-in-indian-railway-check-out-last-date-and-other-details/articleshow/88976928.cms">Railway recruitment 2022: Over 2,400 apprenticeship posts announced, check out last date and other details</a>

Internship at Bureau of Police Research & Development: Checkout all the details including last date, eligibility and stipend

<ul><li><keyword id="35210" type="General" weightage="20" keywordseo="SEBI" source="Orion">SEBI</keyword> is looking for eligible candidates for its Young Professionals Program across various domains.</li><li>The last date to apply for the SEBI programme is January 25.</li><li>Candidates will be given a stipend of ₹60,000 per month.</li></ul>Securities and Exchange Board of India (SEBI) is inviting applications from eligible candidates for its Young Professionals Program across various profiles like information technology (IT),research, law and securities market operations for its Mumbai office. It is a 12-months programme and can be further extended by the authority depending upon the performance of the candidates. The maximum duration of engagement is three years. The application form shall be open for 21 days from the date of publication of the advertisement in newspapers, so the last date to apply for the opportunity is January 25. Candidates will be paid a monthly stipend of ₹60,000 with accommodation (only for those who are not Mumbai-based). <cmsannotation type="cmsannotation" annotationid="These are roles offered by SEBI under this programme —" comment="subhead" text="These are roles offered by SEBI under this programme —">These are roles offered by SEBI under this programme —</cmsannotation> <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Domain </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of vacancies </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Securities Market Operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Law </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Research </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="Eligibility criteria for each domain" comment="subhead" text="Eligibility criteria for each domain">Eligibility criteria for each domain</cmsannotation> <ol><li>For Securities Market Operations — At least one year of work experience in the financial sector after completion of post graduation in Management or completing three years of Chartered Accountant (CA)/Company Secretary (CS)/Certified Management Accountant (CMA)/Chartered Financial Analyst (CFA) from recognised university/institute. </li><li>For Law — At least one year of work experience in corporate/securities laws after completion of the bachelors’ degree in law/Master of Law (LLM) from a recognised university/institution with minimum 60% aggregate marks. </li><li>For Research — One year of experience in areas including financial markets, corporate finance, macroeconomic theory, corporate governance, financial institutions and related areas of international finance. For candidates with PhD, experience is not required. </li><li>IT — At least one year of work experience in the field of software development (programming) or cyber security with bachelor of engineering (B.E)/bachelor of technology (B.Tech) in electronics or electronics and communication or information technology or computer science. </li></ol><cmsannotation type="cmsannotation" annotationid="Selection procedure —" comment="subhead" text="Selection procedure —">Selection procedure —</cmsannotation> The selection of candidates will be done in three steps — application screening, preliminary interview and final interview. Applications of the candidates will be reviewed by the selection committee on the basis of certificates, institutional ranking, academic performance. Candidates who clear the first round will be asked to sit for a preliminary interview held in virtual mode and then for the final round. Interested candidates can fill out the online form <a href="https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doYoungProfessional2021=yes">here</a> and can seek more information <a href="https://www.sebi.gov.in/sebiweb/other/careerdetail.jsp?careerId=196">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/over-2400-apprenticeship-posts-announced-in-indian-railway-check-out-last-date-and-other-details/articleshow/88976928.cms">Railway recruitment 2022: Over 2,400 apprenticeship posts announced, check out last date and other details</a>

SEBI is hiring young graduate professionals for a monthly stipend of ₹60,000, last date is January 25

New Delhi, Feb 3 () The government will protect the interest of policyholders of LIC, which is likely to go public in the next financial year, Minister of State for Finance Anurag Thakur has said.
Listing of LIC will help bring in greater transparency, public participation and also deepen the equity market, he said.
"Government came out with the idea (LIC listing). The details will follow and it will be in the interest of LIC and its policyholders. Interest of LIC and policyholders will be safeguarded," he told in an interview.
Asked about quantum of stake sale, he said, once the amendment to the LIC Act is finalised you will get all the details.
"LIC have an independent set-up to decide where they want to invest even today and what will continue in the next format that would come into light as well in the future," he said.
Finance Minister Nirmala Sitharaman while presenting the Budget 2020-21 on Saturday proposed to sell a part of government stake in LIC through an initial public offer next fiscal.
The government aims to garner Rs 90,000 crore from the listing of LIC and stake dilution in IDBI Bank in the next fiscal out of total disinvestment target of Rs 2.10 lakh crore.
The government currently owns 100 per cent in LIC, while it holds around 46.5 per cent stake in IDBI Bank.
Assuring that the numbers presented in the Budget as realistic, Thakur said several measures announced in the Budget will help boost economy and meet nominal GDP growth target of 10 per cent set in the Budget.
"Just three four months back the government announced corporate tax rate cut. It takes some time to implement that at the grassroot level. So, you will see impact of that in some time. That is why we have not said 7.5 per cent, we have said 6.5 per cent (growth). And that is a real and genuine numbers we are looking at," he said.
Besides, he said, the revenue and expenditure target for the next fiscal are very much achievable.
The Budget has pegged total receipts at Rs 22.46 lakh crore and expenditure at Rs 30.42 lakh crore 2020-21 keeping in mind government's commitment towards various schemes and need for improvement in quality of life of the people.
Terming this year's Budget as 'Jan Jan Ka Budget', Thakur said, every strata of the society has been taken well into consideration and major reforms have been undertaken benefiting youth, women, farmers, investors and middle class.
The government has provided Rs 2.83 lakh crore for agriculture, farmer welfare and rural development.
"Doubling farmers' income is an agenda for the next two years. We have already fulfilled the commitment of one and a half times of cost of production of farmers which government had promised," he said.
With the announcement of 'Kisan Rail' and 'Krishi Udaan' to be launched by Indian Railways and Ministry of Civil Aviation, respectively, for a seamless national cold supply chain for perishables, this too will serve beneficial as it will aid farmers in facilitating smooth and fast transport of perishable goods, he said.
In addition, the government has increased agriculture credit target to Rs 15 lakh crore for the next fiscal.
Thakur said, "from the startups to education, internship to apprenticeship many announcements have been done...So, I think more young entrepreneurs, more startups we are going to see...We see India moving to top three startup countries in the world in the next couple of years".
With regard to helping the MSME sector, he said, the government has asked the RBI to consider extending debt restructuring window by another year till March 31, 2021.
More than five lakh MSMEs have benefitted from restructuring of debt permitted by the Reserve Bank of India in the last year, he said. DP BAL

Interest of LIC policyholders will be protected, says Anurag Thakur

Jeremy Corbyn says he will spend &#163;500 billion on infrastructure and introduce rent control

<ul><li>New income tax slabs: 10% tax on income between ₹7.5 lakh without exemption compared to 20% right now.</li><li>15% tax on income between ₹7.5 lakh and ₹10 lakh without exemption compared to 20% right now.</li><li>20% tax on income between ₹10 lakh and ₹12.5 lakh without exemption compared to 30% right now.</li><li>25% tax on income between ₹12.5 lakh and ₹15 lakh without exemption compared to 30% right now.</li><li>Cost to the exchequer ₹40,000 crore; Removed 70 tax exemptions and deductions. These new rates are available to those who forego exemptions, deductions, and rebates.</li><li>Dividend distribution tax will be abolished, it will be taxable in the hands of the recipient. Cost to exchequer: ₹25,000 crore</li><li>SEE ALSO: <a href="https://www.businessinsider.in/budget/news/union-budget-2020-live-updates-news-and-highlights/liveblog/73824572.cms" data-type="tilCustomLink" target="_blank">Business Insider India live blog</a> on Budget 2020.</li></ul>Finance Nirmala Sitharaman presented her second annual budget speech. The top highlights from the budget 2020 proposals include the government's plan to sell stake in state-iowned insurance giant Life Insurance Corporation of India, sweeping changes in the income tax slabs, as well as the abolition of the dividend distribution tax at the end of the corporates. Aside from theses, startups with revenue up to ₹25 crore can avail 100% tax deduction in any three years over a period of 7 years, according to the latest Finance Bill presented by Sitharaman. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 <div type="image" title="Finance Minister Nirmala Sitharaman" msid="73828645" hostid="261" caption="&amp;lt;p&amp;gt;&amp;quot;As per tradition, Finance Minister Nirmala Sitharaman calls on President Kovind at Rashtrapati Bhavan before presenting the Union Budget,&amp;quot; the official handle of the President&amp;#39;s office tweeted today.&amp;lt;br&amp;gt;&amp;lt;/p&amp;gt;"></div>


































 Following are the key highlights of the budget speech: <ol><li>Only through higher growth, we can have our youth gainfully and meaningfully employed.</li><li>Fundamentals of the economy are strong, inflation has been contained, banks have been cleaning up the accumulated loans of the past decade. </li><li>An average household now saves about 4% of its monthly spends due to lower incidence of tax under the GST regime.</li><li>Welfare schemes with direct benefit transfer embedded in them, preventive healthcare via programmes like sanitation, healthcare via central schemes, housing scheme via Prime Minister Awas Yojana (PMAY) etc changed the established order of a few individuals cornering most of the benefits. </li><li>During 2014-19, Indian economy grew at an average of 7.4% with low inflation. India's foreign direct investment was $284 billion between 2014 an 2019 compared to $190 billion in the preceding five-year period.</li><li>India's government debt fell to 48.7% of GDP as of March 2019 compared to 52.3% as of March 2014.</li><li>Three themes of Budget 2020: 'Aspiring India', 'economic development', and 'to build a caring society'. </li><li>We shall aim for seamless delivery of services by leveraging technology. </li><li>6.11 crore farmers insured under Prime Minister Fasal Bima Yojana - a centrally-sponsored insurance scheme. Farm markets need to be liberalised.</li><li>16 action points: 1: Encourage state governments that will implement the following model laws that have already enacted by the centre. 2: Propose comprehensive measures for 100 water-stressed districts. 3: Expand outlay for solar pumps to 20 lakh farmers, another 15 lakh farmers to pumpsets to solar grid. Farmers if they have barren lands, they can set up solar power plants and sell it to the grid. 4: Balanced use of orgnaic and inorganic fertilisers. 5: Provide viability gap funding for setting up warehouses. Food Corporation of India can set up warehousing on their land too. 6: Push to reduce storage costs for farmers. 7: Promotion of women self-help groups. 8: To launch refrigerated trains to transport food items from the farm to other parts of the country. 9: Horticulture exceeds the production of foodgrains. 'One product for one district' to promote focussed development of horticulture. 10: Integrated farming system in rain-fed areas. Multiple crops, bee-keeping solar pumps in rain deficient area. 11: Financing on negotiable warehousing receipts will be linked to e-NAM. 12: The NABARD refinance scheme will expanded. The agriculture credit target for FY21 will be expanded to ₹15 lakh crore from ₹12 lakh crore. 13. To eliminate foot and mouth disease by 2025. To double milk production to 108 million metric tonnes by 2025. 14. Blue economy - development management of marine resources. Target ₹1 lakh crore in fish exports by 2025. 15. By FY23, propose raising fish production to 200 lakh tonnes, will also promote algae, seaweed.</li><li>16. Under Deendayal Antyodaya Yojana, self help groups will be expanded beyond the current 58 lakh.</li><li>Allocation for agriculture: ₹2.83 lakh crore, this includes ₹</li><li>Mission Indradhanush has been expanded to include 12 new diseases and 5 new vaccines. A very focussed water and sanitation programme to reduce the burden of diseases on the poor. There are 20,000 hospitals empanelled under the PMJAY, this has to rise. Propose to set up hospitals under the private-public partnership, the 112 districts identified as 'aspirational' will get priority in the setting up of new hospitals. </li><li>Proceeds from taxes on medical devices will be used to support the programme to build the infrastructure.</li><li>Reiterate India's commitment to eradicate tuberculosis by 2025. </li><li>Allocation for health: ₹69,000 crore including ₹6,400 crore for PMJAY.</li><li>By 2030, India is set to have the world's largest working-age population. They need education, skills, and employment opportunities. Our education system needs more money to attract better teachers and to set up better labs. Open the education sector to external commercial borrowing. </li><li>In order to provide quality education to the under privileged, a full-fledged online courses will be launched from the top 100 institutions in India.</li><li>Under 'Study In India' programme, a new INSAT exam to be launched for foreign students to enroll into Indian universities. </li><li>Every medical college will be linked to a nearby hospitals under the public-private partnership mode.</li><li>Total outlay for education sector: ₹99,300 crore and another ₹3,000 crore for skill development.</li><li>150 top education institutes to start offering apprenticeship programmes.</li><li>Propose to set up an investment clearance cell for end-to-end services including information on land bank and facilitating the approval process etc. </li><li>It is proposed to develop 5 new smart cities in collaboration with state governments in PPP mode. </li><li>Electronics manufacturing industry is cost competitive and India has shown its potential. To attract large investments in electronic manufacturing -- including electronic equipment, smartphones -- a new policy will be announced soon.</li><li>A National Textile Mission to work for next four fiscal years with an estimated outlay of ₹1,480 crore.</li><li>A new scheme Nirvik, for higher insurance cover, reduction in premium for small exporters, and simplified claim process, including digital refund process to help exporters.</li><li>Every district must become a hub for exports.</li><li>Unified procurement scheme: Propose ₹27,300 crore for development of industry and commerce in FY21.</li><li>National Infrastructure Pipeline will bring in generic and sectoral reforms in construction and maintenance of the infrastructure. Propose a project preparation facility that will employ economist, management graduates to execute projects.</li><li>A National Logistics Policy will soon be released to clarify the roles of Central government, state governments, and the regulators.</li><li>The Delhi-Mumbai Expressway and two other projects will be completed by FY23. The Chennai-Bengaluru expressway project will also started by then.</li><li>Government will monetise 12 NHAI highway projects.</li><li>Setting up a large solar power capacity alongside the rail tracks on the land owned by the railways, is a proposal under consideration.</li><li>150 trains under the PPP mode. More Tejas type trains will connect iconic tourist destinations. </li><li>Central government will give 20% of the funds needed for a suburaban rail transport system in Bengaluru.</li><li>100 more airports will be set up in the next five years.</li><li>₹1.7 lakh crore allocated for transport infrastructure.</li><li>Propose to replace traditional meters with digital meters in the next three years. This will allow consumers to port out of a service provider (selling power) just like they port out of mobile service provider.</li><li>Fibre to home connections through Bharat Net will connect 1 lakh villages this year itself. Propose to provide ₹6,000 crore for Bharat Net programme.</li><li>Quantum technology: An outlay of ₹8,000 crore over the next five years.</li><li>₹22,000 crore allocated for the power sector including renewble energy sector.</li><li>No manual cleaning of sewers will be allowed, new technology will be roped. Centre in conversation with civic bodies.</li><li>Provision of ₹85,000 crore for scheduled castes and other backward classes.</li><li>Provision of ₹53,700 crore for scheduled tribes in the country.</li><li>5 archaeological sites would be developed as iconic sites with on-site museum -- Rakhigarhi (Haryana), Hastinapur (UP), Dholavera (Gujarat), Shivsagar (Assam), and Aditya Nallur (Tamil Nadu).</li><li>Propose ₹35,500 crore for nutrition-related schemes.</li><li>Allocation for Ministry of Culture: ₹3,500 crore. </li><li>Propose ₹2,500 crore to promote tourism.</li><li>Propose ₹9,500 crore for senior citizens and specially abled.</li><li>Proposed total allocation for women-centric programmes ₹28,600 crore.</li><li>Propose ₹4,400 crore allocation for clean air. </li><li>Companies Act will be amended to abolish 'criminal liability' for 'civil offences'.</li><li>A National Recruitment Agency will be set up. It will conduct a common entrance test for non-gazetted positions in the government and public-sector enterprises. </li><li>Propose a new national policy on national statistics will push for use of AI to collect data real time.</li><li>India will host G20 Presidency in 2022; the government proposes to allocate ₹100 crore to start the preparations.</li><li>Governance reforms proposed for PSU banks: Robust mechanism is in place to monitor the health of all banks and the money of depositors are safe. Insurance of bank deposits raised to ₹5 lakh from ₹eposit insurance and credit guarantee scheme.</li><li>Government will sell its remaining stake in IDBI Bank to private investors. Stock jumps over 13%</li><li>MSME entrepreneurs can avail 'subordinate debt' from banks and the loan will be fully guaranteed by a Trust. This will be treated as quasi-equity stake.</li><li>Government has asked RBI to extend deadline for MSME debt restructuring by one more year. </li><li>FY20 fiscal deficit seen at 3.8% of GDP and at 3.5% in FY21.</li><li>Non-resident Indians will be allowed to invest in certain categories of government bonds.</li><li>Currently, foreign portfolio investors are allowed to buy a maximum of 9% of the outstanding corporate bonds. Finance Minister proposes to increase the threshold significantly to 15%.</li><li>An international bullion exchange will be set up in GIFT City in Gandhinagar, Gujarat.</li><li>Government to sell stake in LIC. </li><li>Receipts for FY21 estimated at ₹22.46 lakh crore, estimate expenditure: ₹</li><li>Borrowing plan for FY21: ₹5.36 lakh crore, capital expenditure will rise over 22%.</li><li>Dividend distribution tax will be abolished, it will be taxable in the hands of the recipient. Cost to exchequer: ₹25,000 crore</li><li>Dividend and capital gains made by foreign funds on investment in infrastructure space will tax free.</li><li>Startups with revenue up to ₹25 crore can avail 100% tax deduction in any three years over a period of 7 years.</li><li>Small retailers with revenue up to ₹5 crore need not get their books audited by accountants.</li><li>New scheme to end tax disputes: If someone agrees to pay the disputed tax amount by March 2020, there will be no interest and penalty. There are 4,83,000 tax disputes pending at various forums.</li><li>FY21 disinvestment target ₹2.1 lakh crore, doubled from the ₹1.05 lakh crore target in FY20.</li><li>Propose a cash incentive for customers demanding invoice, to boost compliance with GST</li><li>Imported footwear, furniture, and medical equipments will get more expensive as customs duty will be increased.</li></ol> SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/new-income-tax-slab-tax-savings-for-salaried-people/articleshow/73835816.cms">You'll save ₹78,000 more under new income tax slabs if you earn less than ₹15 lakh</a> <a href="https://www.businessinsider.in/budget/news/indian-government-infuses-22000-crore-in-power-and-renewable-proposes-freedom-to-choose-supplier/articleshow/73835587.cms">Indian government infuses ₹22000 crore in power and renewable, proposes freedom to choose supplier</a> <a href="https://www.businessinsider.in/budget/income-tax/news/check-out-new-income-tax-slab-of-2021/articleshow/73830824.cms">New income tax slabs 2020</a> <a href="https://www.businessinsider.in/budget/news/there-will-be-no-manual-cleaning-of-sewers-anymore-announces-nirmala-sitharaman/articleshow/73835265.cms">“There will be no manual cleaning of sewers anymore,” announces Nirmala Sitharaman</a> <a href="https://www.businessinsider.in/budget/news/union-budget-2020-live-updates-news-and-highlights/liveblog/73824572.cms">Union Budget 2020 Live Updates</a> <a href="https://www.businessinsider.in/budget/news/indian-taxpayers-expectation-from-the-budget-2020/articleshow/73804969.cms" data-type="tilCustomLink" target="_blank"></a><a href="https://www.businessinsider.in/defense/news/indias-budget-allocation-for-defence-has-remained-fairly-static-for-the-past-five-years/articleshow/73153930.cms" data-type="tilCustomLink" target="_blank"></a>

Income tax cuts, stake sale in LIC and other highlights from Finance Minister Nirmala Sitharaman's budget speech

<div class="KonaFilter image-container float_right"><div class="image">REUTERS/Marcos BrindicciTraders work on the Buenos Aires Stock Exchange floor during mid-afternoon trading, May 7, 2004.</div></div>One hundred years ago Argentina was the future. What went wrong?
WHEN the residents of Buenos Aires want to change the pesos they do not trust into the dollars they do, they go to a cueva, or "cave", an office that acts as a front for a thriving illegal exchange market. In one cueva near Florida Street, a pedestrian thoroughfare in the centre of the city, piles of pesos from previous transactions lie on a table. A courier is getting ready to carry the notes to safety-deposit boxes.
This smallish cueva handles transactions worth $50,000-75,000 a day. Fear of inflation and of further depreciation of the peso, which fell by more than 20% in January, will keep demand for dollars high. Few other ways of making money are this good. "Modern Argentina does not offer what you could call an institutional career," says one cueva owner.
As the couriers carry their bundles around Buenos Aires, they pass grand buildings like the Teatro Colón, an opera house that opened in 1908, and the Retiro railway station, completed in 1915. These are emblems of Argentina's Belle Époque, the period before the outbreak of the first world war when the country could claim to be the world's true land of opportunity. In the 43 years leading up to 1914, GDP had grown at an annual rate of 6%, the fastest recorded in the world. The country was a magnet for European immigrants, who flocked to find work on the fertile pampas, where crops and cattle were propelling Argentina's expansion. In 1914 half of Buenos Aires's population was foreign-born.
The country ranked among the ten richest in the world, after the likes of Australia, Britain and the United States, but ahead of France, Germany and Italy. Its income per head was 92% of the average of 16 rich economies. From this vantage point, it looked down its nose at its neighbours: Brazil's population was less than a quarter as well-off.
It never got better than this. Although Argentina has had periods of robust growth in the past century--not least during the commodity boom of the past ten years--and its people remain wealthier than most Latin Americans, its standing as one of the world's most vibrant economies is a distant memory (see chart 1). Its income per head is now 43% of those same 16 rich economies; it trails Chile and Uruguay in its own back yard.
The political symptoms of decline are also clear. If Argentina appeared to enjoy stability in the pre-war era, its history since then has been marked by a succession of military coups. The first came in 1930; others followed in 1943, 1955, 1962, 1966 and 1976. The election of 1989 marked the first time in more than 60 years that a civilian president had handed power to an elected successor.
It is now more than 30 years since the end of military dictatorship, but democracy has not yet led to stability. Argentines reach for the metaphor of the "pendulum" to describe the swings of the past three decades: from loose economic policies in the 1980s to Washington-consensus liberalisation in the 1990s and back again under the presidency of Néstor Kirchner and now his widow, Cristina Fernández de Kirchner. But the image of a pendulum does not do justice to the whiplashing of the economy (see chart 2)--the repeated recessions of the 1970s and 1980s, the hyperinflation of 1989-90, the economic crisis of 2001 and now the possibility of another crisis to come. Argentina is a long way from the turmoil of 2001 but today's mix of rising prices, wage pressures and the mistrust of the peso have nasty echoes of the past.
Internationally, too, Argentina has lost its way. It has shut itself out of global capital markets, although negotiations are under way to restructure its debts with the Paris Club of international creditors. Brazil, hardly a free-trade paragon, is pressing Argentina to open its borders; once it would have been the other way round. "Only people this sophisticated could create a mess this big," runs a Brazilian joke that plays on Argentines' enduring sense of being special.
<h3>One hundred years of ineptitude</h3>
The country's dramatic decline has long puzzled economists. Simon Kuznets, a Nobel laureate, is supposed to have remarked: "There are four kinds of countries in the world: developed countries, undeveloped countries, Japan and Argentina." Other countries have since managed to copy Japan's rapid industrialisation; Argentina remains in a class of its own. There is no shortage of candidates for the moment when the country started to go wrong. There was the shock of the first world war and the Depression to an open trading economy; or the coup of 1930; or Argentina's neutrality in the second world war, which put it at odds with America, the new superpower. There was the rise of Juan Domingo Perón, the towering figure of 20th-century Argentina, who took power in 1946. Others reckon that things really went downhill between 1975 and 1990.
No one theory solves the puzzle. "If a guy has been hit by 700,000 bullets it's hard to work out which one of them killed him," says Rafael di Tella, who has co-edited a forthcoming book on Argentina's decline. But three deep-lying explanations help to illuminate the country's diminishment. Firstly, Argentina may have been rich 100 years ago but it was not modern. That made adjustment hard when external shocks hit. The second theory stresses the role of trade policy. Third, when it needed to change, Argentina lacked the institutions to create successful policies.
Take each in turn. The first explanation is that Argentina was rich in 1914 because of commodities; its industrial base was only weakly developed. Filipe Campante and Edward Glaeser of Harvard University compared Buenos Aires before the first world war with Chicago, another great shipment hub for meat and grains. They found that whereas literacy rates stood at 95% in Chicago in 1895, less than three-quarters of porteños, as residents of Buenos Aires are known, knew how to read and write.
The landowners who made Argentina rich were not so bothered about educating it: cheap labour was what counted. That attitude prevailed into the 1940s, when Argentina had among the highest rates of primary-school enrolment in the world and among the lowest rates of secondary-school attendance. Primary school was important to create a sense of citizenship, says Axel Rivas of CIPPEC, a think-tank. But only the elite needed to be well educated.
Without a good education system, Argentina struggled to create competitive industries. It had benefited from technology in its Belle Époque period. Railways transformed the economics of agriculture and refrigerated shipping made it possible to export meat on an unprecedented scale: between 1900 and 1916 Argentine exports of frozen beef rose from 26,000 tonnes to 411,000 tonnes a year. But Argentina mainly consumed technology from abroad rather than inventing its own.
Technological innovation needs not only educated people but access to money. Argentina's golden age was largely foreign-funded. Half of the country's capital stock was in foreign hands in 1913, further exposing it to external shocks. Low levels of domestic savings can in part be explained by demography: large numbers of immigrants with dependent children spent money rather than saving it.
<h3>Traders of the lost past</h3>
Argentina had become rich by making a triple bet on agriculture, open markets and Britain, then the world's pre-eminent power and its biggest trading partner. If that bet turned sour, it would require a severe adjustment. External shocks duly materialised, which leads to the second theory for Argentine decline: trade policy.
The first world war delivered the initial blow to trade. It also put a lasting dent in levels of investment. In a foreshadowing of the 2007-08 global financial crisis, foreign capital headed for home and local banks struggled to fill the gap. Next came the Depression, which crushed the open trading system on which Argentina depended; Argentina raised import tariffs from an average of 16.7% in 1930 to 28.7% in 1933. Reliance on Britain, another country in decline, backfired as Argentina's favoured export market signed preferential deals with Commonwealth countries.
Indeed, one way to think about Argentina in the 20th century is as being out of sync with the rest of the world. It was the model for export-led growth when the open trading system collapsed. After the second world war, when the rich world began its slow return to free trade with the negotiation of the General Agreement on Tariffs and Trade in 1947, Argentina had become a more closed economy--and it kept moving in that direction under Perón. An institution to control foreign trade was created in 1946; an existing policy of import substitution deepened; the share of trade as a percentage of GDP continued to fall.
These autarkic policies had deep roots. Many saw the interests of Argentina's food exporters as being at odds with those of workers. High food prices meant big profits for farmers but empty stomachs for ordinary Argentines. Open borders increased farmers' takings but sharpened competition from abroad for domestic industry. The pampas were divided up less equally than farmland in places like the United States or Australia: the incomes of the richest 1% of Argentines were strongly correlated with the exports of crops and livestock. As the urban, working-class population swelled, so did the constituency susceptible to Perón's promise to support industry and strengthen workers' rights.
There have been periods of liberalisation since, but interventionism retains its allure. "One-third of the country--the commodities industry, engineers and regional industries like wine and tourism--is ready to compete," says Sergio Berensztein, a political analyst. "Two-thirds are not."
The divide between farmers and workers endures. Heavy export taxes on crops allow the state to top up its dwindling foreign-exchange reserves; limits on wheat exports create surpluses that drive down local prices. But they also dissuade farmers from planting more land, enabling other countries to steal market share. The perverse effects of intervention have been amply demonstrated in the Kirchner era: according to the US Department of Agriculture, Argentina was the world's fourth-largest exporter of wheat in 2006. By 2013 it had dropped to tenth place. "The Argentine model of 100 years ago--producing as much as you can--is the one others now follow," laments Luis Miguel Etchevehere, the president of the Rural Society of Argentina, a farmers' lobby.
<h3>Distribution centre</h3>
Some commodity-rich economies have resolved these tensions. Australia, for example, shared many of the traits of early 20th-century Argentina: lots of commodities, a history of immigration and remoteness from big industrial centres. Yet it managed to develop a broader-based economy than Argentina and grew faster. Between 1929 and 1975 Australian income per person increased at an average annual rate of 0.96%, compared with 0.67% in Argentina.
Australia had some big advantages: the price of minerals does not affect domestic consumers in the same way as the price of food, for instance. But it also had the institutions to balance competing interests: a democracy in which the working class was represented; an apprenticeship system; an independent Tariff Board to advise the government on trade. Argentina had not evolved this political apparatus, despite an early move to universal male suffrage in 1912. The third theory for Argentine decline points to the lack of institutions to develop long-term state policies--what Argentines call política de Estado.
The constant interruptions to democracy are not the only manifestation of this institutional weakness. The Supreme Court has been overhauled several times since Perón first changed its membership in 1946. Presidents have a habit of tinkering with the constitution to allow them to serve more terms: Ms Fernández was heading this way before poor mid-term election results last year weakened her position.
Property rights are insecure: ask Repsol, the Spanish firm whose stake in YPF, an Argentine oil company, was nationalised in 2012. Statistics cannot be trusted: Argentina was due this week to unveil new inflation data in a bid to avoid censure from the IMF for its wildly undercooked previous estimates. Budgets can be changed at will by the executive. Roberto Lavagna, a former economy minister, would like to see a requirement for parliamentary approval of budget amendments.
<h3>The next century</h3>
First, Argentina has to get out of its mess. Keen to husband its stock of foreign reserves and to close the gap between the official and unofficial exchange rates, the central bank allowed the peso to slide last month. To prevent the depreciation from fuelling inflation expectations, it has raised interest rates. But further tightening will be needed. Rates remain negative in real terms; upcoming wage negotiations will be a test of how serious the government is about controlling spending.
Ms Fernández will probably struggle on until the 2015 presidential election, which optimists see as a turning-point. Economic wobbles before the election may discredit Peronism's claim to be the party of strong government. But Peronism is a remarkably plastic political concept, capable of producing both the neoliberal policies overseen by Carlos Menem in the 1990s and the redistributive policies of the Kirchners. The idea of a party that pays the price of bad policies does not seem to apply.
Short-termism is embedded in the system. Money is concentrated in the centre, and the path to power goes via subsidies and splurging: the Kirchners are only the latest culprits, turning a fiscal surplus of 2% of GDP in 2005 into an estimated 2% deficit last year. "We have spent 50 years thinking about maintaining government spending, not about investing to grow," says Fernando de la Rúa, a former president who resigned during the 2001 crisis.
This short-termism distinguishes Argentina from other Latin American countries that have suffered institutional breakdowns. Chile's military dictatorship was a catastrophic fracture with democracy but it introduced long-lasting reforms. Mexico's Institutional Revolutionary Party governed steadily for most of the 20th century. "In Argentina institution-building has taken the form of very quick and clientilist redistribution," says Daron Acemoglu of the Massachusetts Institute of Technology.
It will take an unusual politician to change Argentina's institutions, especially if another commodities windfall eases the pressure to reform. The country's Vaca Muerta ("Dead Cow") shale-oil and gasfield is estimated to be the world's third-largest. If Argentina can attract foreign capital, the money could start flowing within a decade. "Vaca Muerta gives us huge capacity to recover and huge opportunity to make mistakes," says Mr Lavagna.
Argentines themselves must also change. The Kirchners' redistributive policies have helped the poor, but goodies such as energy subsidies have been doled out to people who do not really need them. Persuading the population to embrace the concept of necessary pain will be difficult. That is partly because the experience of the 1990s discredited liberal reforms in the eyes of many Argentines. But it is also because reform requires them to confront their own unprecedented decline. No other country came so close to joining the rich world, only to slip back. Understanding why is the first step to a better future.
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