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<ul><li>84-year old Pranab Mukherjee spent his entire political career spanning decades as a member of the Congress Party.</li><li>However, he was respected across all parties for his political acumen. </li><li>Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>, who belongs to the rival BJP, hailed the former President as an "outstanding statesman of our times". </li></ul> Former President of India Pranab Mukherjee received the country's highest civilian honour, the Bharat Ratna, at the age of 84. While Mukherjee spent his entire political career spanning decades as a member of the Congress Party, he was respected across party lines. The current Prime Minister Narendra Modi, who belongs to the rival Bharatiya Janata Party (BJP), has hailed Mukherjee as an "outstanding statesman of our times". Mukerjee's term as President of India, a post enabled by the Congress, ended in 2017. His successor President Ram Nath Kovind presented the award in a ceremony at the Rashtrapati Bhawan, the President's residence, today (August 8) in the presence of the country's top leaders. <div type="Youtube" id="KYdI9dYW-as" title="President Kovind presents Bharat Ratna to Shri Pranab Mukherjee at Rashtrapati Bhavan" thumbUrl="https://i.ytimg.com/vi/KYdI9dYW-as/mqdefault.jpg"></div>

 Mukherjee, a long-term Congress loyalist, has been among the senior-most ministers in many governments from the one headed by Indira Gandhi to her son Rajiv Gandhi followed by Narasimha Rao and most recently under Manmohan Singh between 2004 and 2014. Known for his ability to strike a deal, Mukherjee played crucial roles in breaking many political deadlocks. SEE ALSO: <a href="https://www.businessinsider.in/sushma-swaraj-indias-former-foreign-minister-passes-away-at-the-age-of-67/articleshow/70561044.cms" data-type="tilCustomLink" target="_blank">India's 'supermom' Sushma Swaraj, the lady who redefined the country's Foreign Ministry, is no more</a>

Watch India's former President Pranab Mukherjee receive the country's highest civilian honour

Indian President <a href="http://www.businessinsider.in/searchresult.cms?query=Pranab+Mukherjee&amp;sortorder=effectivedate">Pranab Mukherjee</a> said lack of efforts in job creation can cause disaster in the nation. While addressing a conference of <a href="http://www.businessinsider.in/searchresult.cms?query=heads+of+educational+institutes&amp;sortorder=effectivedate">heads of educational institutes</a>, Mukherjee said job creation figures were the lowest in the last seven years and it is now the top most priority. “The job creation figures of 1.35 lakh in 2015, which is the lowest in seven years, are not encouraging,” he said. 
 
Mukherjee emphasized on harmonious and peaceful environment for students to go for higher studies and asked the concerned departments to facilitate academic ladder. He also asked the institutions to control the student unrest in the institutions. 
 
"There have been incidences of student unrest in our institutions in recent past. Our campuses must have a harmonious and peaceful environment for students to pursue higher studies and research. Vice-chancellors and directors must deal with any unpleasant situation with sagacity,” he said. 
 
Mukherjee said country's institutions must become magnets for talent by shifting from "brain drain" to "brain rain". 
 "In India, we have enough talent. With the largest population of the young, we are poised to leverage a low dependency ratio. But that depends on the productivity of the population in the working age bracket. If there are enough <keyword id="11018" type="COMPANY" weightage="20" keywordseo="Jobs">jobs</keyword> in the country, there will be content, refinement and perfection. An opposite scenario can spell disaster,” the president said. 
 
"The restlessness and frustration of youth manifests in unrest and upheaval. Let us not allow such a situation to appear on our horizon. We must turn our evolving demographic configuration into strength. For that, adequate job creation is a priority. The job creation figures of 1.35 lakh in 2015, which is the lowest in seven years, are not encouraging,” he added. 
 
He also said that the country needs to look at the paradigm shift as machines are now replacing men in foreign countries and many talented professionals are looking forward to coming back to India. 
 
"From 'brain drain', we must shift to abundance of 'brain rain', as many successful Indian professionals working abroad are keen to come back, excited by the opportunities unfolding in a changing India. With adequate thrust on internationalisation of our institutions, we can develop 'brain networks'," Mukherjee said, addressing the second visitor's conference at <a href="http://www.businessinsider.in/searchresult.cms?query=Rashtrapati+Bhavan&amp;sortorder=effectivedate">Rashtrapati Bhavan</a>. 
 
(image: IndiaTimes)

Job creation in 2015 was at 1.35 lakh, lowest in 7 years: Pranab Mukherjee

Juveniles aged 16 years and above will now be tried under laws for adults for heinous crimes after <keyword id="48510" type="ORGANIZATION" weightage="100" keywordseo="Rajya-Sabha">Rajya Sabha</keyword> passed the <keyword id="2458616" type="UNKNOWN" weightage="20" keywordseo="Juvenile-Justice-Bill">Juvenile Justice Bill</keyword> on Tuesday. The government sought support of all parties on the legislation to "deter many other boys" from doing such a crime. The bill which seeks to treat juveniles between 16 to 18 years as adults for committing heinous crimes such as rape will become a law after President <keyword id="6359124" type="PERSON" weightage="20" keywordseo="Pranab-Mukherjee">Pranab Mukherjee</keyword> signs the amendments. 

	While the TMC had extended its full support to the bill during the debate, other parties like JD(U) remained divided over the issue and members of the CPI(M) party staged a walkout just before the bill was put to vote.

	Maneka Gandhi who had piloted the bill, had read out a list of gruesome crimes committed by juveniles in the House and asked the House how such cases can be handled.
 The parents of the December 2012 gangrape victim, known as <keyword id="6357643" type="UNKNOWN" weightage="20" keywordseo="Nirbhaya">Nirbhaya</keyword>, watched the proceedings from the visitor's gallery. 

	"Glad that juvenile justice bill has been passed, this will help our future generations and prevent crimes, but at the same time we are pained that our daughter could not get justice." said Asha Devi, Nirbhaya's mother, who was almost in tears when she spoke to the media after the bill's passage. 
	 
	(image credit: PTI)

Rajya
Sabha passes Juvenile Justice Bill

Mortal remains of late former Indian President <a href="http://www.businessinsider.in/searchresult.cms?query=APJ+Abdul+Kalam">APJ Abdul Kalam</a> arrived at Palam Airport in New Delhi from Guwahati on Tuesday. 
 Indian President Pranab Mukherjee, Vice-President Hamid Ansari, <keyword id="6354814" type="UNKNOWN" weightage="100" keywordseo="prime-minister-Narendra-Modi">Prime Minister Narendra Modi</keyword>, along with Three Service Chiefs paid homage to Kalam. 
 
Defence Minister Manohar Parrikar, Delhi Police Commissioner B.S. Bassi and Delhi Chief Minister Arvind Kejriwal were also present. 
 
 
 
Public can pay homage to the late President from 3pm onwards at 10 Rajaji Marg in New Delhi. 
 
 
 
The last rites will take place at Rameswaram in Tamil Nadu. 
 
People from all walks of life took to social media and paid homage to the apolitical President. Kalam led the scientific team that developed missiles able to carry India's nuclear warheads. 
 
He became a national hero after helping oversee nuclear tests in 1998 that solidified India's status as a nuclear weapons state. India's first atomic test was in 1974. 
 
Meanwhile, <a href="http://www.businessinsider.in/searchresult.cms?query=smriti+irani">Union HRD Minister Smriti Irani</a> announced Rashtriya Avishkar Abhiyan to be renamed as APJ Abdul Kalam Rashtriya Avishkar Abhiyan. 
 
Telangana Government has announced holiday, whereas the Andhra Pradesh Government has decided to work one hour extra to pay tribute to the late President. 
 
Kalam died on Monday (July 27) from a cardiac arrest at the age of 83. 
 
Kalam, popularly known as 'Missile Man', was delivering a lecture in Shillong when he collapsed and was rushed to Bethany Hospital. 
 
Kalam’s last tweet was: 
 
 
<blockquote class="twitter-tweet" lang="en">
	
		Going to Shillong.. to take course on Livable Planet earth at iim. With <a href="https://twitter.com/srijanpalsingh">@srijanpalsingh</a> and Sharma.
	— In memoryof Dr.Kalam (@APJAbdulKalam) <a href="https://twitter.com/APJAbdulKalam/status/625546195205648384">July 27, 2015</a></blockquote>
 
We at Business Insider have created this unique platform for anyone who wants to pay homage to this the beloved Former President, APJ Abdul Kalam- the great leader, teacher, scientist and amongst many other things a visionary par excellence, even as he embarks upon his last journey. Just click on the link to pay your respects: <a href="http://www.businessinsider.in/social/48249034.cms">http://www.businessinsider.in/social/48249034.cms</a> 
 
(Images: ANI Twitter)

President Pranab Mukherjee, PM Modi pay homage to Dr Kalam at Delhi airport

Remember <keyword id="117766" type="COMPANY" weightage="60" keywordseo="Malaysia-Airlines">Malaysia Airlines</keyword> flight MH17 was shot down over Ukraine last year. Keeping such incidents in mind, Prime Minister Narendra Modi will get a safe and secure aircraft as new 'Desi <keyword id="88309" type="ENTERTAINMENT" weightage="60" keywordseo="Air-Force-One">Air Force One</keyword>' is set to be cleared soon. 
 
His aircraft will be equipped with advanced self-protection suites to jam and will beat hostile incoming missiles in the sky and encrypted satellite communication facilities. 
 
Some of its features would be- robust defence systems, including 'radar warning receivers'. It will sound an alert if a hostile radar 'paints' the aircraft before letting loose missiles. 
 
It would also have a better missile-approach warning systems. Moreover, its advanced electronic counter-measures on board will be able to jam enemy radars, along with defence systems geared to shoot metal chaff or flares to throw off-track radar. 
 The Prime Minister, <keyword id="1159815" type="UNKNOWN" weightage="60" keywordseo="President-Pranab-Mukherjee">President Pranab Mukherjee</keyword> and other VVIPs will travel in such aircrafts for extra long-haul overseas flights. 
 
Sources told Economic Times, the defence acquisitions council, chaired by Defence Minister Manohar Parrikar, will take up the purchase of two Boeing 777-300 (extended range) aircrafts. They will be acquired from Air India which has many such relatively new wide-bodied planes, especially configured for VVIPs travel and their safety. 
 
These aircrafts will be used in place of ageing Boeing 747 'Jumbo Jets' under 'Air India One'. 
 
"These old aircraft do not have anti-missile defence systems, which the SPG holds is necessary. The decision was taken after a committee of secretaries from top ministries and aviation experts examined the matter," a source told the financial daily. 
 
Last year when Malaysia Airlines flight MH17 was shot down, Modi's 747-400 aircraft was using a nearby air corridor at the same time to return to New Delhi from Frankfurt. 
 
The two modified 777-300 (ER) aircraft will be based with the Air HQ Communication Squadron at Palam. 
 Though, Air India may still collaborate with the <keyword id="15141" type="ORGANIZATION" weightage="60" keywordseo="Indian-Air-Force">Indian Air Force</keyword> in terms of pilots, engineers and cabin crew, the call sign of the PM's new 777-300 (ER) ride could well be 'Air Force One' like the US president's iconic '<keyword id="2847883" type="UNKNOWN" weightage="60" keywordseo="Flying-Oval-Office">flying Oval Office</keyword>'. 
 
(Image: Indiatimes)

PM Modi’s desi Air Force One

<keyword id="2848374" type="UNKNOWN" weightage="20" keywordseo="Remember-Malaysian-Airlines">Remember Malaysian Airlines</keyword> flight MH17 was shot down over <keyword id="6355101" type="COUNTRY" weightage="20" keywordseo="Ukraine">Ukraine</keyword> last year. Keeping such incidents in mind, <keyword id="71" type="POSITION" weightage="20" keywordseo="Prime-Minister">Prime Minister</keyword> <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> will get a safe and secure aircraft as new 'Desi Air Force One' is set to be cleared soon.
 His aircraft will be equipped with advanced self-protection suites to jam and will beat hostile incoming missiles in the sky and encrypted <keyword id="6358065" type="PERSON" weightage="20" keywordseo="Satellite">satellite</keyword> communication facilities. 

	Some of its features would be- robust defence systems, including 'radar warning receivers'. It will sound an alert if a hostile radar 'paints' the aircraft before letting loose missiles.
 

	It would also have a better missile-approach warning systems. Moreover, its advanced electronic counter-measures on board will be able to jam enemy radars, along with defence systems geared to shoot metal chaff or flares to throw off-track radar.
 The Prime Minister, President <keyword id="6359124" type="PERSON" weightage="20" keywordseo="Pranab-Mukherjee">Pranab Mukherjee</keyword> and other VVIPs will travel in such aircrafts for extra long-haul overseas flights. Sources told Economic Times, the defence acquisitions council, chaired by <keyword id="6366153" type="POSITION" weightage="20" keywordseo="Defence-Minister">Defence Minister</keyword> <keyword id="6363133" type="PERSON" weightage="20" keywordseo="Manohar-Parrikar">Manohar Parrikar</keyword>, will take up the purchase of two <keyword id="6357957" type="CITY" weightage="20" keywordseo="Boeing">Boeing</keyword> 777-300 (extended range) aircrafts. They will be acquired from <keyword id="2573" type="CITY" weightage="20" keywordseo="Air-India">Air India</keyword> which has many such relatively new wide-bodied planes, especially configured for VVIPs travel and their safety. 

	These aircrafts will be used in place of ageing Boeing 747 'Jumbo Jets' under 'Air India One'.
 

	"These old aircraft do not have anti-missile defence systems, which the SPG holds is necessary. The decision was taken after a committee of secretaries from top ministries and aviation experts examined the matter," a source told the financial daily.
 Last year when <keyword id="117766" type="COMPANY" weightage="20" keywordseo="Malaysia-Airlines">Malaysia Airlines</keyword> flight MH17 was shot down, Modi's 747-400 aircraft was using a nearby air corridor at the same time to return to New Delhi from <keyword id="12970" type="COMPANY" weightage="20" keywordseo="Frankfurt">Frankfurt</keyword>. The two modified 777-300 (ER) aircraft will be based with the <keyword id="2848376" type="UNKNOWN" weightage="20" keywordseo="Air-HQ-Communication-Squadron">Air HQ Communication Squadron</keyword> at Palam. Though, Air India may still collaborate with the <keyword id="15141" type="ORGANIZATION" weightage="20" keywordseo="Indian-Air-Force">Indian Air Force</keyword> in terms of pilots, engineers and cabin crew, the call sign of the PM's new 777-300 (ER) ride could well be 'Air Force One' like the <keyword id="15548" type="POSITION" weightage="20" keywordseo="US-President">US president</keyword>'s iconic 'flying Oval Office'.

<ul><li>India's real GDP grew at around 8.2% in real terms in Fy24: Economic Survey </li><li>Retail inflation dipped to 5.4% in FY24, notes Economic Survey</li><li>Unemployment dipped to 3.2% in FY24</li></ul><keyword id="19912360" type="General" weightage="20" keywordseo="Finance-Minister-Nirmala-Sitharaman" source="keywords">Finance Minister Nirmala Sitharaman</keyword> is set to present the union budget on 23rd July, at 11 am. The budget session is scheduled to last between 22nd July and 12th August. This will be <keyword id="19956941" type="General" weightage="20" keywordseo="FM-Sitharaman" source="keywords">FM Sitharaman</keyword>'s seventh consecutive budget presentation under the third term of <keyword id="20205025" type="General" weightage="20" keywordseo="Bhartiya-Janata-Party" source="keywords" meta.keywordsubtype="org" meta.entityname="Bhartiya Janata Party" meta.hostid="261" meta.entityid="Bhartiya Janata Party">Bhartiya Janata Party</keyword> (BJP). All budget-related documents will be available at indiabudget.gov.in. You can watch the presentation live on Doordarshan, Sansad TV, and also on various official government YouTube channels. With this budget, Sitharaman will only precede former PM <keyword id="20342248" type="General" weightage="20" keywordseo="Morarji-Desai" source="keywords">Morarji Desai</keyword>, who has presented the highest number of budget (10) till date, followed by <keyword id="22330828" type="General" weightage="20" keywordseo="P-Chidambaram" source="keywords">P. Chidambaram</keyword> with 9 budgets, and Pranab Mukherjee, who has 8 budgets to his credit. In her recent address in parliament, Sitharaman noted that significant social and economic decisions will be a highlight of this budget. Notably, she concluded <keyword id="901788" type="General" weightage="20" keywordseo="pre-budget-consultations" source="Orion">pre-budget consultations</keyword>, which began on June 19th, on July 5th, where she met 20 invitees across 10 groups, including representatives from agriculture, skill development, finance and banking, energy, <keyword id="17408" type="General" weightage="20" keywordseo="Infrastructure" source="Orion">infrastructure</keyword> sector and more. <h2>Key expectations from Budget 2024</h2>Experts note that this budget will mainly focus on improving consumption, and boosting <keyword id="174143" type="General" weightage="20" keywordseo="infrastructure-development" source="Orion">infrastructure development</keyword>. Per reports, the government is also mulling raising the threshold of standard deduction under income tax regimes from the present Rs 50,000 to Rs 1 lakh. Additionally, to boost healthcare accessibility for the underserved in the country, the government is also contemplating to double the annual coverage offered under the <keyword id="20097876" type="General" weightage="20" keywordseo="Ayushman-Bharat-health-insurance-scheme" source="keywords">Ayushman Bharat health insurance scheme</keyword> from the present Rs 5 lakh to Rs 10 lakh over the next 3 years, along with also covering individuals aged over 70. Mr. Tashwinder Singh, CEO &amp; MD, Niyogin Fintech Limited, which offers credit to MSMEs, noted that upcoming regulatory changes should focus on simplifying compliance, taxation policies that encourage entrepreneurship, and incentivise innovations that drive R&amp;D investments. "We hope that the government takes measures to support the lending industry through access to capital and affordable interest rates, enabling entrepreneurs to realize their vision. Furthermore, we look forward to relaxed norms for NBFCs, allowing them to contribute more substantially to the economy. These measures will collectively propel India's economic growth, boost job creation, and position the Indian fintech industry as a strong contender in innovation and entrepreneurship", he continues. As for bolstering green infrastructure and clean energy production, Ms Aditi Balbir, Co-founder, EcoRatings notes that the 2024 union budget should prioritize investments in sustainable infrastructure projects and clean energy solutions, as 70% of greenhouse gas emissions stem from energy, industry, and buildings. "This will create a future-proof foundation for economic growth and help in achieving net-zero targets. Infrastructure is crucial in addressing climate change and meeting diverse societal needs. A transformative overhaul of our current and future infrastructure assets is essential. The budget should introduce financial incentives, such as lower interest rates on loans and dedicated grants, for companies committed to ESG compliance. This will create a clear link between sustainability efforts and economic benefits", she continued. <h2>Focus on Agri-credit, Real Estate in Budget 2024</h2>The government could also raise the target for agricultural loans disbursed during the year by up to 25%, setting the target at Rs 25 lakh crore. The government will also have to revamp the MSP (minimum support price) system in this space, focusing on challenges such as narrow coverage, dipping export competitiveness, discouraging private investment in this space and more. Another area that demands significant attention is real estate. Shubhi Jain, Principal Partner &amp; Head of CRM, Square Yards anticipates significant reforms in the upcoming budget under the new government. Securing industry status will unlock a plethora of legal and administrative benefits, along with much-needed tax incentives. "Also, while government’s focus on affordable housing under PMAY is commendable, recalibrating strategies in light of escalating construction costs is imperative for sustained inclusiveness and effectiveness. Moreover, enhanced tax reliefs and increased deductions on home loans, currently capped at INR 2 lakhs, are pivotal in stimulating demand and supporting prospective buyers", she says. <div type="Article" hostid="261" msid="111946291" title="Union Budget 2024-25 key highlights: Assistance for Nalanda's development as a tourist center" mstype="2" mssubtype="0"></div><h2>Short-term outlook positive, notes Economic Survey </h2>FM Sitharaman presented the Economic Survey 2023-24 in the parliament today, ahead of the budget. The survey noted that the Indian economy had managed to recover and expand in an orderly fashion post the pandemic, with the real GDP growing by 8.2% in FY24. Going ahead, prospects for continued strong growth in FY25 remain robust. India also managed to bring down its current account deficit (0.7% of GDP in FY24), while projecting a 7%+ growth rate in the medium term. On the employment front, the survey noted that AI might moderate India's services export growth by as much as 0.3 to 0.4 percentage points annually over the course of the next decade. As such, greater emphasis and focus is needed on areas like blockchain, artificial intelligence (AI), machine learning, Internet of Things, cybersecurity, cloud computing, big data analytics, augmented reality, virtual reality, 3D printing, and web and mobile development. The Indian labour market indicators have significantly improved over the past 6 years, with unemployment rates dipping to 3.2% in 2022-23. However, even as net payroll additions to EPFO have doubled over the last 5 years, signaling a healthy formal employment market, job creation and increasing women participation in workforce remain key areas of concern. For all updates and latest information related to the budget, don't forget to follow <a href="https://www.businessinsider.in/budget" data-type="tilCustomLink" target="_blank">Budget Insider</a>! 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: FM Sitharaman announces internships for 10 million youth in 500 top companies</a> <a href="https://www.businessinsider.in/budget/news/loan-limit-under-mudra-scheme-to-be-doubled-to-20-lakh-sitharaman/articleshow/111950024.cms" data-type="tilCustomLink" target="_blank">Loan limit under MUDRA scheme to be doubled to ₹20 lakh: Sitharaman</a>

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Watch India's former President Pranab Mukherjee receive the country's highest civilian honour

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Job creation in 2015 was at 1.35 lakh, lowest in 7 years: Pranab Mukherjee

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Rajya Sabha passes Juvenile Justice Bill

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President Pranab Mukherjee, PM Modi pay homage to Dr Kalam at Delhi airport

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PM Modi’s desi Air Force One

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PM Modi’s desi Air Force One

BI India Bureau

Union Budget 2024: When will it be presented, what time, where to watch and what are various sectors expecting?

Ira Alok Puranik

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