Modi Government is about to complete one year in office and one year is a significant time for understanding the intent and to some extent the performance of any government. <keyword id="2403978" type="ORGANIZATION" weightage="80" keywordseo="The-Modi-government">The Modi government</keyword> had won the election on the plank of development and its promise to bring ‘acche din’. The article tries to trace some of the promises that were made and the performance of the government during the previous year under various broad themes. 
 
Economy- The government has been helped by what a prominent editor termed ‘acche sitare’, ‘good luck’. It is no doubt true that fall in commodity prices in general and crude oil, in particular, helped the government reign in the <keyword id="6365485" type="UNKNOWN" weightage="80" keywordseo="fiscal-deficit">fiscal deficit</keyword> and give it headway to make fiscal policies for the country. The fiscal deficit target for 2015-16 has been the pegged by the budget to 3.9%. While this is little above than recommendations of the Fourteenth <keyword id="74136" type="ORGANIZATION" weightage="80" keywordseo="finance-commission">Finance Commission</keyword> ( which recommended it to be 3.6 percent of the <keyword id="35050" type="CITY" weightage="80" keywordseo="gdp">GDP</keyword>), the government has understandably batted for growth. The government still is slowly but surely moving towards the limit set by FRBM (Fiscal Responsibility and Budgetary Management) Act, 2003 that pegged the target at a maximum level of 3% of the GDP. The government has also tried to help the <keyword id="34412" type="ORGANIZATION" weightage="80" keywordseo="economy">economy</keyword> gain momentum by enabling legislation for reforms. These included trying to go in for a major reform in the indirect taxation regime as well as accepting the recommendations of Fourteenth <keyword id="25455" type="ORGANIZATION" weightage="80" keywordseo="finance">Finance</keyword> Commission in respect to revenue sharing with states. It was ostensibly done to ensure a spirit of ‘cooperative federalism’ between states and center, as well as greater financial devolution to states. The figure now stands at 42% of the total revenue collection up from the earlier 32%. Also, the year saw growth forecasts been revised for India by a number of International Bodies and agencies. The IMF revised its forecasts to 7.5 % In 2015 in its WEO April 2015 forecast. It was up from the 6.4 projected for 2015 in the WEO April 2014 forecast. Similarly, the Asian Development Bank in its Asian Development Outlook 2015, indicated a bettering economy with less than 5 percent core <keyword id="22195" type="COMPANY" weightage="80" keywordseo="Inflation">inflation</keyword>. They also alluded to the new monetary policy framework according to which RBI, India's central bank is to play the role of price stabilization primarily while being mindful of growth. With the policy framework in place, the central bank will be maintaining the inflation target of 4±2 % from FY 2016 onwards. Thus with an overall bettering situation a total score of 7.5 out of 10. 
 
Foreign Engagement and Defence- Foreign engagement was by far the area where the most vigorous activity and keen intent were observed. The sphere saw initiatives undertaken by the PM himself to make India more noticeable as well as more integrated with the International sphere. It included among many things, trips to foreign countries both in the neighbourhood as well as to countries like Germany, France, Australia, US, Canada and most recently beginning May 14, 2015 his trip to China. The engagement also saw a large number of foreign dignitaries coming to India from across the world. The engagement also saw bilateral agreements as well as plans to invest in India's development by countries and companies abroad, most notably by Japan, US and China. Also, steps to resolve contentious issues have been undertaken pertaining to the border areas with neighbours. It includes the recently passed Bangladesh Land Accord Bill that envisages transferring enclaves and demarcation of the boundary along the present porous borders. Also, in the broad sphere of defence the decision to acquire 36 Rafale fighter jets is a welcome step. More such acquisitions will have to be made since these 36 planes would add just two squadrons to thirty-five squadrons that IAF has. It is below an authorized strength of forty-two which will be down to twenty- five by 2022. It means we must speed up the process of defense acquisitions since there is urgent need to upgrade and modernize the armed forces and security apparatus in India. Overall a score of 8.5 out of 10 foreign engagement and 7.5 out of 10 on defence. 
 
 
Agriculture- Here the government has not been able to do that well, and it is understandable because there has been erratic weather accentuated by some mismanagement by the government. The sector is critical as most people are dependent on it for employment. Added to the weather were the issues of land acquisition and urea availability to farmers. Land Acquisition Bill though being blocked by the opposition on the farmer rights plank is linked directly to the development of clusters and employment of youth for especially rural areas. The focus of the government seems to be the development of irrigation facilities under its Pradhanmantri Krishi Sinchai Yojana. A fund was proposed to be set up for marginalized farmers with a corpus of Rs. 25000 crores in NABARD. An overall score of 6.5 on 10. 
 
Industrial policy and power- Industrial policy saw a continuity from the previous regime. The National Manufacturing Policy (NMP) was hailed by the 'Make in India' as the 'most comprehensive and significant policy initiative of the government'. The 'Make in India' is an initiative that is critically dependent on other factors. These include availability of land, ease of doing business as well as removal of inverse duty structures that make imports of finished products cheaper than finished products. Apart from this labour policies that favour flexibility in hiring and firing are also seen to be the main bottlenecks. While the government has taken some steps to rectify, these bottlenecks outcomes are yet to be seen. Similarly, the <keyword id="44528" type="ORGANIZATION" weightage="80" keywordseo="FDI">FDI</keyword> policy has seen incremental reforms with the opening up of <keyword id="35450" type="COMPANY" weightage="80" keywordseo="insurance">insurance</keyword> and defence sectors further to 49% from the earlier limit of 26%. Both these are positive steps for the economy. Greater structural changes could have been undertaken in these spheres especially with the mandate, but nonetheless significant work is been done. In the power sector, much has been achieved. It included the successful auction of the coal mines, which is slated to rope in a massive 15 lakh crore over the 30-year timeframe if all the mines are auctioned and are working at optimum output. Apart from this coal production was at an all-time high as well as the government seems on track to meet the power requirements of the country. Overall a score of 6.5 for industries and a score of 8 for power out of 10. 
 
Education- The countries' education system can broadly be classified under two broad areas- higher education and school education. There are several schemes that are operational under these. The government in the past one-year has come up with several new initiatives including the Beti-Bachao Beti Padhao Abhiyan, Swachh Vidyalaya and GIS Mapping of schools and has opened several new institutions. However, the fact remains that despite all government’s initiatives most people if given a choice, prefer private schooling since it gives their children a competitive edge later on in their careers. The governments of the past have failed in this and correcting this anomaly will take time. Also, in respect to higher education the government seems keen to have holistic development with several new AIIMS, IIM and IIT like institutions being opened in states that have a paucity of these. What remains to seen is how quality and not just quantity is pursued within these institutions while ensuring regional development. An overall score of 6.5 on 10. 
 
Infrastructure- The primary focus of the government in this sphere is up-gradation of existing and quick development of new infrastructure. The first can be observed in the push for railway up-gradation and improvement in customer service. The second can be observed more in the highways sector with the minister setting himself a target of 30 km a day by 2017. In March this year 11 km of roads were being laid. The broad ambit of infrastructure covers the development of roads, highways, ports, airport, waterways, canals, and railways. It is too early to judge the government's progress on the same however the fact that there is clearance for projects worth close to Rs. 6 lakh Crore across 10 key sectors. It shows intent on the part of government for infrastructure development. Overall a score of 7.5 on 10. 
 
Social Schemes- The social schemes of the government have been particularly impressive. These include the <keyword id="2494045" type="UNKNOWN" weightage="80" keywordseo="jan-dhan">Jan Dhan</keyword> Yojana, Pradhan Mantri Jivan Jyoti Bima Yojana (PMJJBY) Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana and many other social missions like the <keyword id="6562839" type="UNKNOWN" weightage="80" keywordseo="Swacch-Bharat-Mission">Swacch Bharat Mission</keyword> and the Clean Ganga Mission. For the Jan Dhan Yojana already around 12.5 crore accounts have been opened along with a capital infusion of Rs 10,500 crore into the system. The three recently launched social security schemes (namely the (PMJJBY), Pradhan Mantri Suraksha Bima Yojana ) and Atal Pension Yojana) have got nearly 6.5 crore subscriptions. It is because (PMJJBY) scheme offers Rs. 2 lakh cover for a mere 330 Rs. Per year (provided bank account holders are from age 18-50). Under the (PMSBY), renewable one-year accident cum disability cover of Rs. 2 lakh is provided for Rs.12 premium every year. The Atal Pension Yojana is aimed at those people who work in the unorganised sector and do not fall under the ambit of regular pension. The scheme offers pension under various brackets depending on the contribution made over a period. The scheme is for people in the age bracket 18-40 years. The social focus of the government is also evident from the fact the government has continued with previous schemes and linked them with technology for targeted interventions. The JAM (Jan Dhan Account, Aadhaar Cards and Mobiles) number Trinity as mentioned in the budget speech is an example of the same. The government seems to have a social focus for benefit to poor. An overall score of 8 on 10. 
 
Urbanization and Urban development- The urbanization and urban development received an increased thrust under the 100 Smart City project. The thrust of the present government is not only on up gradation of brownfield cities but also development of new greenfield cities. Traditionally, India has been slow to urbanize, and at present 32 percent of people reside in urban areas. However, the quality of urban life has seen a precipitous decline in the past few decades. The government's smart city initiative is a step aimed at understanding and absorbing the migration of people from rural to urban areas. However, the implementation of the project holds the key. Success in greenfield development is critically linked to land acquisition. Also, will the 'smart cities' improve liveability for the ever-burgeoning population remains to be seen? The project is ambitious in scope and the past year has seen some activity with the launch of the GIFT city in Gujarat and work on cities of DMIDC. An overall score of 6.5 on 10. 
 
Health and Environment- Health along with education have been two areas where successive governments have faltered. The system in India needs a drastic overhaul and increased spending by the government. Also there is a severe shortage of trained personnel in the sector. Add to this the decrepit facilities in rural areas that forces one to look at ways and means to better delivery. The activity in the health ministry was seen to be rather subdued. However, the taxation on cigarettes ensures that a majority of population reconsiders decision to buy cigarettes. The quality of air and the general pollution levels in Indian cities pose serious health issues for all residents. Disease patterns are also changing and this calls for a comprehensive approach to healthcare access and delivery. Not much has been done in this regard. An overall score of 6 on 10. 
 
<keyword id="107737" type="ORGANIZATION" weightage="80" keywordseo="Entrepreneurship">Entrepreneurship</keyword> and Employment- For the first time a separate ministry for entrepreneurship has seen the light of the day. This fact along with the fact that skilling are the main thrust areas of the ministry make it clear that the government is in sync with the present ground reality. A million people will enter the workforce every month over the next decade. So it becomes imperative that India produces jobs for its burgeoning workforce. That will not just come from formal and informal sector but will require a thrust for entrepreneurship. Similarly, thrust for skilling is imperative. Further, a draft policy on skill development and entrepreneurship has already been made and put out for public consultation. Though much remains to be seen in terms of its impact the direction and intent, in this case, seems to be spot on. An overall score of 7.5 on 10. 
 
Overall, in assessing the performance, the government seems to have taken cognizance of the major challenges facing India in multiple spheres and taken requisite steps. It seems to be headed in the right direction. It augurs well for India in the medium to long term. Much will depend on the speed of legislation, decision-making and implementation over the next four years. 
 
(Dr. Amit Kapoor is President and CEO of India Council on Competitiveness and Honorary Chairman of Institute for Competitiveness, India. He tweets @kautiliya and can be contacted at <a href="mailto:amit.kapoor@competitiveness.in">amit.kapoor@competitiveness.in</a>. The article is co-authored with Sankalp Sharma who is Senior Researcher at Institute for Competitiveness)

Assessing one year of Modi
Government: 6/10 leaving scope for major improvement

New Delhi, Feb 1 () The Centre on Monday earmarked a separate Rs 2,217 crore for 42 urban centres to tackle air pollution and announced the much-awaited voluntary vehicle scrapping policy to phase out old and polluting vehicles, even as it shrunk the budgetary allocation for the environment ministry from the last fiscal by nearly eight percent. Union Finance Minister Nirmala Sitharaman, in her budget speech for 2021-22, announced a total of Rs 2869.93 crore for the ministry, Rs 230 crore less than the last fiscal. Officials said the outlay has been lesser this time as the economy is recovering from the COVID-19 pandemic. While the Centre almost doubled the amount allotted to National Coastal Mission from Rs 103 crore in the last fiscal to Rs 200 crore in 2021-22, the allocation for the climate change action plan has been reduced from Rs 40 crore to Rs 30 crore and for Project Tiger from Rs 300 crore to Rs 250 crore. The minister, in her speech, also announced a separate sum of Rs 2,217 crore for combating air pollution at 42 urban centres. "To tackle the burgeoning problem of air pollution, I propose to provide an amount of Rs 2,217 crore for 42 urban centres with a million plus population in this budget," Sitharaman said. Speaking to , Environment Secretary R P Gupta said the budget for the environment is less than last year as the economy is recovering from the pandemic. "Yes the budget may be less than last year but it is also because we are recovering from the pandemic," Gupta said. Out of Rs 2869.93 crore allocated to the ministry of environment, the minister allotted Rs 470 crore for 'control of pollution', which is Rs 10 crore more than last year. Control of Pollution has been conceptualized to provide financial assistance to Pollution control Boards/Committees and funding to National Clean Air Programme (NCAP), launched in January 2019. For the first time, a budget provision of Rs 20 crore has been made for the newly formed statutory body Commission for Air Quality Management (CAQM) for the national capital region and adjoining areas. In yet another step for combating air pollution, Sitharaman on Monday announced the voluntary vehicle scrapping policy under which personal vehicles would undergo fitness test after 20 years while commercial vehicles would require it after completion of 15 years. Road Transport, Highways and MSMEs Minister Nitin Gadkari said the policy would cover over one crore old light, medium and heavy motor vehicles that are estimated to cause 10-12 times more pollution than the latest vehicles. "We are separately announcing a voluntary vehicle scrapping policy to phase out old and unfit vehicles. This will help in encouraging fuel-efficient, environment-friendly vehicles, thereby reducing vehicular pollution and oil import bill," the finance minister said. The budgetary allocation for National Mission for Green India has been reduced from Rs 311 crore in the last financial year to Rs 290 crore this time with the national afforestation programme alone being allotted Rs 235 crore, lower than last year's amount of Rs 246 crore. In the wildlife conservation arena, the allocation for government-initiated projects -- Project Tiger and Project Elephant -- saw some changes with the former getting reduced by Rs 50 crore and the other being shrunk by Rs 2 crore. The fiscal's allocation for Project Tiger saw a reduction of Rs 100 crore in the last two years. From Rs 350 crore allotted to it in 2019-20, it was reduced to Rs 300 crore in the last fiscal, and now the allocation stands at Rs 250 crore. The budget for Project Elephant, which was launched to conserve jumbos across the country, has been reduced to Rs 33 crore from Rs 35 crore last year. The allocation for the National Tiger Conservation Authority (NTCA), a statutory body under the ministry responsible for tiger census and conservation of wild cats, saw a minor reduction of Rs 50 lakh from Rs 10.5 crore to Rs 10 crore. The budget for National Coastal Mission was nearly doubled with the government allotting it Rs 200 crore from Rs 103 crore allotted to it last year. In 2019-20, NCM was allotted Rs 95 crore. Under the National Coastal Mission, the environment ministry is responsible for ensuring livelihood security of coastal communities, including fisher folks, conserving, protecting the coastal stretches and promoting sustainable development based on scientific principles The minister also announced that under Urban Swachh Bharat Mission 2.0, for which Rs 1.42 lakh crore have been set aside, main interventions include complete faecal sludge management and waste water treatment, source segregation of garbage, reduction in single-use plastic, reduction in air pollution by effectively managing waste from construction-and-demolition activities and bio-remediation of all legacy dump sites. The Centre reduced the budgetary allocation for National Mission for Himalayan Studies by 10 crore and the amount for various regional offices and statutory institutes like Wildlife Crime Control Bureau, Forest Survey of India, Zoological Survey of India, National Green Tribunal etc collectively from Rs 506 crore in 2020-21 to Rs 460 crore this year. Funds for 'environment knowledge and capacity building' were also reduced from Rs 86.37 crore last year to Rs 70 crore. It is the umbrella central sector scheme with two sub-schemes - Forestry Training and Capacity Building, and Eco Task Force. The scheme Forestry Training and Capacity Building aims to cover the whole gamut of the training and exposure needs of the forestry sector personnel. The Eco Task Force scheme is being implemented through the Ministry of Defence for ecological restoration of terrains, rendered difficult either due to severe degradation or remote location. The budget for environmental education, awareness and training was also reduced from Rs 114 crore in 2020-21 to Rs 77.13 crore in 2021-22. The total allocation of five autonomous bodies under the environment ministry has also been reduced in the budget this year. The five autonomous bodies – G B Pant Himalayan Institute of Environment and Development, Indian Council of Forestry Research and Education, Indian Institute of Forest Management, Indian Plywood Industries Research and Training Institute and Wildlife Institute of India (WII) – were allocated Rs 305.5 crore for this year compared to Rs 340 crore allotted to them in the last fiscal. However, the budget for statutory and regulatory bodies rose from Rs 145.5 crore to Rs 160.5 crore this year. The bodies include Central Pollution Control Board, Animal Welfare Board, Central Zoo Authority, National Biodiversity Authority, National Tiger Conservation Authority and Commission for Air Quality Management. AG RT RT

Budget allocation of Rs 2,217 crore, new vehicle scrapping policy for tackling air pollution; Env ministry's outlay shrinks

Centre's <keyword id="6365485" type="DEFINITION" weightage="20" keywordseo="Fiscal-Deficit">fiscal deficit</keyword> is expected to touch 7 per cent of the <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> in 2020-21, against budget estimates of 3.5 per cent, <keyword id="1013588" type="COMPANY" weightage="20" keywordseo="Brickwork-Ratings">Brickwork Ratings</keyword> said on Saturday. The ratings agency said that the impact of the lockdown on economic activity shows up starkly in the trends in the Central government revenue collection during the first three months of the 2020-21 fiscal. As per the data released by the Controller General of Accounts (CGA), the Central government's revenue in Q1 of the current year is much lower than the collections for the corresponding period of last year. As per the data, revenue from income tax (personal income tax and corporate income tax) was lower by 30.5 per cent and the GST (CGST+IGST+UTGST) was lower by almost 34 per cent during the period. On the other hand, there is a sharp increase in expenditure (by 13.1 per cent) due to additional spending incurred to save lives and livelihoods and to provide stimulus under the 'Atmanirbhar Bharat' mission. "This has resulted in the fiscal deficit widening to 83.2 per cent of the budgeted target in the first quarter itself," the statement said. According to Brickwork Ratings, the economy is expected to gradually pick up from the third quarter of this fiscal. "Given the early signs of resumption in business activity, we expect revenue collections to reach pre-Covid levels towards the end of the third quarter, hoping that the festive season demand induces consumption and spending," the statement said. "However, if the current situation prolongs further, the government may face acute burden of fund shortage to fulfil the budgeted expenditure even after considering the announced higher borrowing of Rs 12 lakh crore. This could cause a huge cut in capital expenditure, as well as a Centrally sponsored schemes, except MNREGA and the National Health Mission," it added. The Centre has already increased the allocation of Rs 40,000 crore for MNREGA in the 'Atmanirbhar' scheme, and the funds are expected to be utilised fully in the current year. "Given the expected shortfall in revenue, fiscal deficit of the Cent ral government could reach 7 per cent of the GDP in 2020-21, assuming the no minal GDP at last year's level," the statement said. "Borrowings may further increase if the contraction in economy is mo re severe than our early estimates. As States too have been allowed addition al borrowings amounting to 2 per cent of the GDP, the consolidated fiscal de ficit could reach 12 per cent of the GDP," it added. In addition, the ratings agency said that among the major economies, only the US has a higher deficit than India's deficit.

India's fiscal deficit expected to touch 7% of GDP in 2020-21, says report

<ul><li>India’s Chief Economic Advisor (CEA) believes that India’s progress to address <keyword id="6361617" type="UNKNOWN" weightage="20" keywordseo="climate-change">climate change</keyword> has been “commendable”. </li><li>The progress is largely concentrated in eight states and two union territories, most of which are located in southern India. </li><li>Among the front-runners leading the charge to achieve Sustainable Development Goals SDGs, Himachal Pradesh, and Chandigarh are the only north Indian state and union territory perform above average. </li></ul>India’s Chief Economic Advisor (CEA) believes that India’s progress to address climate change has been “commendable”. However, despite the country’s score improving from 57 in 2018 to 60 in 2019 — the progress is largely concentrated in eight states and two union territories, most of which are located in southern India. “India’s progress in adopting, implementing, and monitoring sustainable development goals (SDGs) stands noteworthy,” said the <a href="https://pib.gov.in/PressReleseDetail.aspx?PRID=1601251">Economic Survey 2020</a>. Among the front-runners leading the charge to achieve Sustainable Development Goals SDGs, Himachal Pradesh, and Chandigarh are the only north Indian state and union territory perform above average. The other states are Kerala, Tamil Nadu, <keyword id="37102" type="LOCATION" weightage="20" keywordseo="Andhra-Pradesh">Andhra Pradesh</keyword>, <keyword id="68884" type="LOCATION" weightage="20" keywordseo="Telangana">Telangana</keyword>, Karnataka, Goa, and Puducherry with Sikkim as another outlier in the east. <div type="image" title="image1" msid="73805219" hostid="261"></div>

 India’s current strategies to focus “on clean and efficient energy system, enhanced energy efficiency, resilient urban infrastructure, safe, smart and sustainable green transportation network, planned afforestation,” may be working — but it’s difficult to deny the disparity. Here’s what India has to deliver Under the NDC, India has promised to reduce its emissions to 33-35% below 2005 levels by 2030. It also has to ensure that 40% of its electric power capacity comes from non-fossil fuel sources and that it increases its forest cover. “India is among a few countries in the world where, despite ongoing developmental efforts, forest and tree cover are increasing considerably,” notes the Survey. This year, tree cover has reached 80.73 million hectares, accounting for 24.56% of India’s geographical area. However, the annual change in forest cover isn’t the same for everyone. States like Arunachal Pradesh, Manipur, Mizoram and Meghalaya have seen a drop in forest cover in the two years since 2017. The survey states that India has achieved 83 GW out of the targeted 175 GW Renewable Energy through one of the world’s largest renewable energy expansion programs. Yet, it has been unable to solve the crisis of stubble burning — on the primary reasons behind the increase in pollution levels. India’s CEA also claims that the Swachh Bharat Mission has come out as a winner in overall environment improvement. All the urban areas are open defecation free and the waste processing increased from 18% to 60%. See also: <a href="https://www.businessinsider.in/policy/economy/news/budget-2020-and-kv-subramanian-economic-survey-has-signals-for-banks/articleshow/73801122.cms?src=hp_ts">Economic Survey 2020 has signs for what banks can expect from Nirmala Sitharaman's budget speech</a>

Only 8 states in the country have made meaningful progress to fight climate change

New Delhi, Feb 9 () A 12 per cent growth in tax collections next fiscal may look ambitious to some but for Revenue Secretary Ajay Bhushan Pandey it is achievable in an economy that is projected to clock a 10 per cent nominal GDP growth. The economy slowing down to its slowest growth in 11 years together with a cut in corporate tax rates led to the government missing its tax collection target by a wide margin in the current fiscal. The tax shortfall also led to slipping on fiscal deficit target for the third year in a row. In an interview to , Pandey exuded confidence of meeting the tax collection target of Rs 24.23 lakh crore for 2020-21. "In 2020-21 the nominal growth that has been projected is 10 per cent. So on a 10 per cent (GDP) growth, getting a 12 per cent growth in tax revenue is achievable," Pandey told . The 2020-21 Budget has pegged gross tax revenues for 2020-21 at Rs 24.23 lakh crore, up 12 per cent from Rs 21.63 lakh crore in the current fiscal. Around Rs 6.38 lakh crore is expected to come from personal income tax in 2020-21, a 14.13 per cent increase over Rs 5.59 lakh crore earned in 2019-20. Besides, corporate tax revenue is budgeted to increase by 11.63 per cent to Rs 6.81 lakh crore in 2020-21, from Rs 6.10 lakh crore in current fiscal. For current fiscal, the government has revised downwards the tax collection projections from budgeted Rs 24.61 lakh crore to Rs 21.63 lakh crore in the revised estimates. Pandey said the revenue growth budgeted for current fiscal was calculated assuming a 12 per cent nominal GDP growth. However, the nominal GDP growth came in at 7.5 per cent. He said in the current fiscal, the gross tax revenue is 4 per cent higher than Rs 20.80 lakh crore collected in 2018-19 fiscal. However, the government had estimated an 11 per cent gross tax revenue growth in 2019-20. Explaining further, Pandey said, "This year we have shown a tax revenue growth of 4 per cent. 7 per cent growth we had to forego on account of corporate tax (cut). So 4 per cent (growth) means actually 11 per cent achievement. On 7.5 per cent nominal growth if you are achieving 11 per cent (tax revenue) growth, we can't say that this is unrealistic". In September 2019, the government announced a cut in base corporate tax for existing companies to 22 per cent from current 30 per cent; and for new manufacturing firms, incorporated after October 1, 2019 and starting operations before March 31, 2023, to 15 per cent from current 25 per cent. The effective tax rate for existing units, after considering surcharges and cess such as Swachh Bharat cess and education cess - which are levied on top of the income and corporate tax rates, will be 25.17 per cent as compared to 34.94 per cent now. For new units, it will be 17.01 per cent as against 29.12 per cent now. The new tax structure cost Rs 1.45 lakh crore in revenue annually to the exchequer. Indian economy is projected to grow at 5 per cent in the current fiscal -- its slowest pace in 11 years. Fiscal deficit in 2019-20 is estimated to come in at 3.8 per cent as against 3.3 per cent estimated in Budget. JD ANZ MR

12% tax revenue growth achievable in 2020-21 fiscal: Revenue Secy

Minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> presented the Union Budg2017, his fourth annual <keyword id="6358021" type="PERSON" weightage="20" keywordseo="budget">budget</keyword>, today. The highlights of Budget 2017 are : 
 
 
Monetary policy to be expansionary in major economies 
 
More steps will be taken to benefit farmers and the weaker sections; budget being presented during weak global economy 
 Pace of remonetisation has picked up; <keyword id="3315394" type="UNKNOWN" weightage="20" keywordseo="demonetisation">demonetisation</keyword> effects will not spill over to next year 
 
Functional autonomy of the railways to be maintained 
 
Demonetisation will help in transfer of resources from tax evaders to government: 
 
Merger of Railways Budget with General Budget brings focus on a multi-modal approach for development of railways, highways and inland water transport 
 
Only transient impact on economy due to demonetisation; long term benefit include higher GDP growth and tax revenue 
 
GDP will be bigger, cleaner after demonetisation 
 Effects of demonetisation not expected to spill over to the next year, says <keyword id="6355261" type="POSITION" weightage="20" keywordseo="Finance-minister">Finance Minister</keyword> 
 
 Effects of demonetisation not expected to spill over to the next year, says <keyword id="25455" type="ORGANIZATION" weightage="20" keywordseo="finance">Finance</keyword> Minister 
 
 
Govt took two tectonic policy initiatives - passage of GST Bill and demonetisation 
 
Demonetisation was a continuation of series of measures taken by govt in 2 yrs; it is bold and decisive measure 
 
We are seen as engine of global growth; IMF sees India to grow fastest in major economies 
 
36 pc increase in FDI flow; forex reserves at USD 361 billion in January enough to cover 12 months needs 
 
CAD declined from 1 pc last year to 0.3 pc in first half of current fiscal: FM 
 
 
India has emerged as bright spot in the world: FM 
 
 
Uncertainty around commodity prices especially oil to have impact on emerging economies: FM 
 
Double digit inflation has been controlled; sluggish growth replaced by high growth; war on blackmoney launched: FM 
 
We have moved from discretionary based administration to policy based administration: FM Jaitley 
 
Agricultural sector is expected to grow at 4.1 per cent this fiscal, says Jaitley 
 
Demonetisation was a bold and decisive strike in a series of measures to arrive at a new norm of bigger, cleaner and real GDP 
 
Committed to double farm income in 5 yrs 
 
Plan, non-plan classification of expenditure done away with in the Budget for 2017-18 to give a holistic picture 
 
Mini labs by qualified local entrepreneurs to be set up for soil testing in all 648 krishi vigyan kendras in the country 
 
Budget presentation advanced to help begin implementation of schemes before onset of monsoon 
 
We will continue the process of economic reform for the benfit of poor 
 
Spend more in rural areas, infra, poverty alleviation, while maintaining fiscal prudence as guiding principle of Budget 
 
Our agenda for next year is to transform, energise and clean India 
 <keyword id="6354424" type="ORGANIZATION" weightage="20" keywordseo="World-Bank">World Bank</keyword> expects GDP growth rate at 7.6 pc in FY18 and 7.8 pc in FY19 
 
Allocation under MNREGA increased to 48,000 crore from Rs 38,500 crore. This is highest ever allocation 
 
Rs 9,000 cr higher allocation for payment of sugarcane arrears 
 
Target of agriculture credit fixed at Rs 10 lakh cr in 2017-18 
 
Tax administration honouring the honest is one of the 10 pillars of Budget 2017-18 
 
National Testing agency to conduct all examinations in higher education, freeing CBSE and other agencies 
 
133-km road per day constructred under Pradhan Mantri Gram Sadak Yojana as against 73-km in 2011-14 
 
Govt to set up dairy processing fund of Rs 8,000 crore over three years with initial corpus of Rs 2,000 crore 
 
1 cr households to be brought out of poverty under Antodya Scheme 
 
Participation of women in MNREGA increased to 55 pc from 45 pc in past 
 
Modern law on contract farming will be drafted and circulated to states 
 
Dedicated micro-irrigation fund to be created with a corpus of Rs 5000 crore 
 
Market reforms will be undertaken, states will be asked to denotify perishables from Essential Commodities Act 
 
Space technology to be used for monitoring MNREGA implementation 
Sanitation coverage in villages has increased from 42 pc in Oct 2016 to 60 pc, a rise of 18 pc, says FM 
 
We propose to provide safe drinking water to 28,000 arsenic and fluoride affected habitations 
 
To construct one crore houses by 2019 for homeless. PM Awas Yojana allocation raised from Rs 15,000 cr to Rs 23,000 cr 
 
100 pc electrification of villages to be completed by May 2018 
 
27,000 cr on to be spend on PMGSY; 1 cr houses to be completed by 2017-18 for houseless 
 
PM Kaushal Kendras will be extended to 600 districts; 100 international skill centres to be opened to help people get jobs abroad 
 
The allocation for rural agri and allied sector in 2017-18 is record Rs 1,81,223 crore 
 
In higher education, we will undertake reforms in UGC, give autonomy to colleges and institutions 
 
A system of annual learning outcome in schools to be introduced; innovation fund for secondary education to be set up 
 
Two new AIIMS to be set up Jharkhand and Gujarat 
 
New rules regarding medical devices will be devised to reduce their cost 
 
1.5 lakh health sub centres to be converted to Health Wellness Centres 
 
National Housing Bank will refinance indiviual loans worth Rs 20,000 crore in 2017-18 
 
Rs 500 cr allocated to set up Mahila Shakti Kendras; Allocation raised from Rs 1.56 lakh cr to Rs 1.84 lakh cr for women &amp; child welfare. 
 
Capital and development expenditure pegged at Rs 1.31 lakh cr for railways in 2017-18 from Budget 
 
Allocation for SCs increased from Rs 38,833 cr to Rs 52,393 cr, a rise of 35 per cent 
 
35 pc increase in allocation for SC to Rs 52,393 cr 
 
For senior citizens, Aadhaar based health cards will be issued 
 
Model Shops and Establishment Bill to open up additional opportunities for employment of women 
 
Select airports in tier-II cities to be taken up for operations, development on PPP mode 
 
New metro rail policy to be unveiled 
 
Railway tariffs to be fixed on the basis of cost, social obligation and competition 
 
Service charge on e-tickets booked through IRCTC will be withdrawn 
 
Delhi and Jaipur to have solid waste management plants and five more to be set up later 
 
Government proposes Coach Mitra facility to redress grievances related to rail coaches 
 
500 stations will be differently abled by providing lifts and escalators 
 
Unmanned railway level crossings to be eliminated by 2020 
 
Railway line of 3,500 km will be commissioned in 2017-18 as against 2,800 km in 2016-17 
 
Total allocation for rural, agri and allied sectors for 2017-18 is a record Rs 1,87,223 cr, up 24 per cent from last year 
 
Rs 1 lakh cr corpus for railway safety fund over five years 
 
A scheme for senior citizens to ensure 8 per cent guaranteed returns 
 
Dedicated micro-irrigation fund to be set up by NABARD to achieve mission of Per Drop, More Crop 
 
Digi Gaon will be launched to promote tele-medicine and education 
 
Crude oil strategic reserves to be set up in Odisha and Rajasthan apart from 3 already constructed 
 
Coverage of Fasal Bima Yojana to go up from 30 pc of cropped area to 40 pc in 2017-18 and 50 per cent next year 
 
For transport sector, including railways, road and shipping, government provides Rs 2.41 lakh crore 
 
Allocation of Rs 10,000 cr for Bharat Net project for providing high-speed broadband in FY18 
 
Allocation for national highways stepped up to Rs 64,000 cr from Rs 57,676 cr 
 
Budget allocation for highways stepped up to Rs 64,000 crore in FY18 from Rs 57,676 crore 
 
Dispute resolution in infrastructure projects in PPP mode will be institutionalised 
 
Rs 2,74,114 crore allocated for defence expenditure, excluding pension; This includes Rs 86,000 crore for defence capital 
 
Govt to further liberalise FDI policy 
 
Over 90 per cent of FDI proposls are now processed through automatic route 
 
FIPB will be abolished 
 
Trade Infrastructure Export Scheme to be launched in 2017-18; total allocation for infra at record Rs 3.96 lakh cr 
 
Second phase of solar power development to be taken up with an aim of generating 20,000 MW 
 
After demonetisation on Nov 8 last year, deposit of between Rs 2 lakh and Rs 80 lakh made in 1.09 cr bank accounts at an average of Rs 5.03 lakh till Dec 30 
 
More funds beyond Rs 10,000 cr for recapitalisation of banks will be provided if needed 
 
The shares of railway CPSCs like IRCTC and IRFC to be listed on various stock exchanges 
 
We are largely a tax non-compliant society 
 
New ETF with diverse stocks will be launched in 2017-18 
 
Of 76 lakh individuals who reported income of over Rs 5 lakh, 56 lakh are salaried 
 
Integrated public sector oil major to be created to match global giants 
 
Govt will amend the Multi-state Cooperative Act to protect the poor and gullible investors 
 
Urgent need to protect poor from chit fund schemes, draft bill placed in public domain 
 
Computer emergency response team to be set for cyber security of financial sector

Union Budget 2017: Here are the highlights so far

Indian <keyword id="2598106" type="UNKNOWN" weightage="20" keywordseo="Railway-minister-Suresh-Prabhu">Railway Minister Suresh Prabhu</keyword> stressed on passenger services and amenities while presenting his second Rail Budget for 2016-17. 
 
Prabhu stressed on cleanliness of stations, improving existing coaches, introducing new state-of-the art coaches, new bio toilets, etc. 
 
During his speech, Prabhu mainly stressed on initiatives taken and planned under the ‘Swachh Bharat Mission’. 
 
Many stations will be undertaken on PPP model for cleanliness. 
 
Prabhu announced 65,000 additional berths, 884 coaches and 2,000 water vending machines. 
 
He also stressed on online booking system and assured to a seamless system without any technical glitches. 
 
Prabhu assured of installing 17, 000 bio toilets spread over 475 stations before this fiscal, adding that 74 new trains will be covered under rail housing system. 
 
Taking recommendations from the common man, Prabhu said the railways have strengthened its social media, feedback and redressal system, which are taking direct feedback from the travellers and acting upon them. 
 
For senior citizens and women, Prabhu said their safety will be taken care of and increased the quota.

RailBudget2016: Suresh Prabhu offers too much on the platter for passengers

<ul><li>Prime Minister Narendra Modi launched the second phase of the Swachh Bharat Mission-Urban Mission to make Indian cities ‘garbage free’ last year.</li><li>About 2.24 billion tonnes of waste was generated in 2020, and if all this waste is put on trucks they would go around the world a little over 24 times.</li><li>India was ranked at the bottom position of the Environmental Performance Index (EPI) 2022, with 151st position in <keyword id="6359012" type="General" weightage="20" keywordseo="waste-management" source="Orion">waste management</keyword>.</li></ul>It was less than a year ago that Prime Minister Narendra Modi launched the second phase of the Swachh Bharat Mission-Urban Mission to make all cities of India ‘garbage free’. Indian micro, small and medium enterprises (<keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword>) are struggling everyday in order to make that dream of Swachh Bharat into a reality. India faces major environmental challenges associated with waste generation and inadequate waste collection, transport, treatment and disposal. The current systems in India are not able to cope with the volumes of waste generated — about <a href="https://waste-management-world.com/recycling/recycling-in-india-a-market-in-transition/">960 million tonnes</a> of it — by an increasing urban population, and this impacts on the environment and public health. “As per Material Recycling Association (MRAI) India’s recycling rate stands at 30%. The data associated with this recycling rate is largely dominated by highly recyclable materials such as ferrous and non-ferrous scrap, paper, rubber, and tyre etc,” Anurag Asati, co-founder of a waste management company The Kabadiwala, told Business Insider. He noted that the recycling of materials such as plastics is “not very well documented” as a lot of recyclables in the daily garbage and litter does not get collected/recycled because of its low value. Some of it is also informally recycled by waste pickers and kabadiwala associations. The Swachh Bharat Mission-Urban Mission plan relies on a multi pronged strategy — segregate solid waste on source; follow the 3Rs of Reducing, Reusing and Recycling; scientifically process all types of municipal solid waste; and remediate legacy dumpsites for effective solid waste management. This may help, but the growing consumerism is just adding more challenges to the bucket. <cmsannotation type="cmsannotation" annotationid="Consumerism, fast fashion are making waste management expensive" comment="subhead" text="Consumerism, fast fashion are making waste management expensive">Consumerism, fast fashion are making waste management expensive</cmsannotation> About <a href="https://www.worldbank.org/en/topic/urbandevelopment/brief/solid-waste-management">2.24 billion tonnes</a> of waste was generated in 2020 as per The World Bank’s data, and if all this waste is put on trucks they would go around the world a little over <a href="https://www.globalrecyclingday.com/wp-content/uploads/2019/11/Amazing-things-made-out-of-recycled-goods-2020.pdf">24 times</a>. “With rapid population growth and urbanization, annual waste generation is expected to increase by 73% from 2020 levels to 3.88 billion tonnes in 2050,” the global organisation added. Increasing consumerism and fast fashion trends have pushed consumers to purchase more, leading to an increased contribution to solid waste. “99% of what we buy is discarded <a href="https://news.un.org/en/story/2018/10/1021972">within six months</a>, which is one of the key reasons for these alarming numbers,” Monisha Narke, founder of RUR Greenlife said, citing data from the United Nations. That type of waste is difficult to recycle too as they are difficult to collect, Asati of The Kabadiwala said. “Disposal of material like multi-layer packaging, single-use plastic, styrofoam, old clothes is difficult because the collection and processing of this kind of waste requires a lot of effort and resources which makes it expensive,” he noted. <cmsannotation type="cmsannotation" annotationid="Lack of awareness, budget and consistent policy is an issue too" comment="subhead" text="Lack of awareness, budget and consistent policy is an issue too">Lack of awareness, budget and consistent policy is an issue too</cmsannotation> Lack of awareness, budget, financial viability and infrastructure are some other challenges that India’s waste management system is facing. According to the World Bank, effective waste management is expensive, often comprising 20%–50% of municipal budgets. The lack of land in metropolitan areas like Mumbai and other Tier I cities is making recycling even more difficult and expensive, Narke noted. India was ranked at the bottom position of the <a href="https://epi.yale.edu/epi-results/2022/country/ind">Environmental Performance Index </a>(EPI) 2022, with 151st position in waste management, 165th position in climate policy. The country also scored low on rule of law, control of corruption and government effectiveness. Apart from the basic awareness, India also needs clearer policies around solid waste management systems in India. “MSME policy and schemes in the waste management sector should be clearer and conducive as it will help form proper structure and processes. Frequent changes in the policies makes it difficult to modify the service/product in the given time frame,” Asati added. He emphasized that the government helps promote MSME and green entrepreneurship culture, but there needs to be more focus on tax rebates, subsidies in land and electricity. “The government can also provide community spaces for storing and material recovery facilities for waste management,” Narke added. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/adani-enterprises-maruti-suzuki-infosys-among-stocks-to-watch-out-for-on-june-27/slidelist/92481042.cms">Adani Enterprises, Maruti Suzuki, Infosys among stocks to watch out for on June 27</a> <a href="https://www.businessinsider.in/stock-market/news/oil-prices-could-slump-to-75-a-barrel-in-a-recession-or-jump-to-150-if-european-sanctions-slam-russian-supplies-bofa-says/articleshow/92474354.cms" data-type="tilCustomLink">Oil prices could slump to $75 a barrel in a recession — or jump to $150 if European sanctions slam Russian supplies, BofA says</a> <a href="https://www.businessinsider.in/international/news/tesla-is-laying-off-workers-who-only-just-started-and-withdrawing-employment-offers-as-elon-musks-job-cuts-begin/articleshow/92470514.cms" data-type="tilCustomLink">Tesla is laying off workers who only just started and withdrawing employment offers as Elon Musk's job cuts begin</a>

MSMEs can aid waste management in India but need more hand holding

Electric vehicles must be considered for priority lending by the government to accelerate their adoption, while sufficient funds must also be allocated for R&amp;D in a public-private partnership mode for development of batteries, industry body <keyword id="2746593" type="General" weightage="100" keywordseo="smev" source="Orion">SMEV</keyword> said on Thursday. In its Budget wish list, the <keyword id="481834" type="General" weightage="20" keywordseo="society-of-manufacturers-of-electric-vehicles" source="Orion">Society Of Manufacturers Of Electric Vehicles</keyword> (SMEV) also said there is a need to amend the PLI scheme for automobile and auto components, as in its current form there is an "unfair price disadvantage" for small and medium-size EV players in the industry. "To create a robust ecosystem for electric vehicles and give a boost to the EV market, the government could look at putting EVs in the priority lending sector. It will help citizens afford EVs at lower interest rates," SMEV said in a statement. Finance Minister <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> is scheduled to present the Union Budget for FY 2022-2023 on February 1. Stressing on the need for R&amp;D in battery manufacturing, the body of EV makers said, "unless we work seriously and diligently on EV batteries, we will end up in a situation similar to, if not worse than, our dependence on crude oil." The current level of research is abysmally low, diluted, and scattered, it said adding, "the government could allocate sufficient funds for R&amp;D in a public-private partnership mode with a time-bound objective to create EV batteries that are less dependent on offshore minerals and best suited to the Indian condition." The PLI scheme for Advanced Chemistry Cell (ACC) can be suitably amended to incentivise the R&amp;D efforts, it added. SMEV said while the scheme will certainly have incentives for the large players, it is also creating an unfair price disadvantage for small and medium-size EV players who are not qualifying for the incentives under the scheme due to their size, turnover, and backgrounds. "Hence, we request the government to create a level playing field through amendments in the scheme so that MSME EV players, all the pre-existing and new players can also participate," it said. Under the current PLI scheme for automobile and auto components, among other criteria, an automobile company or group firm with existing presence in India or globally needs to have a minimum of Rs 10,000 crore revenue, while for auto components, the minimum revenue requirement is Rs 500 crore. On the other hand, for new non-automotive investor companies or group companies, which are currently not in automobile or auto component manufacturing business, such entities should have a global net worth of Rs 1,000 crore based on audited financial statements for year ending March 31, 2021. The industry body also sought export concessions for EVs in order to make manufacturers in India cash in on the growing demand for such vehicles across the globe. "Some incentives can be extended in the form of subsidies to be enjoyed by domestic consumers for exporting such vehicles to get a global stamp on electric vehicles. This is a large space that Indian industries can capture before international players invade the market with cheaper contraptions," SMEV asserted. Besides, in order to promote EVs, SMEV also mooted a citizen reward programme for EV users which can be used at various establishments and occasions to access fast track services or acquire points for the rewards and inclusion of clean air campaign in Swachh Bharat mission. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tesla-india-prospects-get-a-boost-as-states-compete-with-each-other-to-invite-elon-musk-to-their-backyard/articleshow/88890951.cms">Tesla India prospects get a boost as states compete with each other to invite Elon Musk to their backyard</a> <a href="https://www.businessinsider.in/business/auto/news/tesla-is-facing-a-lot-of-challenges-in-entering-the-indian-market/articleshow/88868786.cms">Tesla is facing a lot of challenges in entering the Indian market, says Elon Musk</a> <a href="https://www.businessinsider.in/business/auto/news/jaguar-land-rover-sales-are-still-down-but-analysts-say-tata-motors-is-healing/articleshow/88867893.cms">JLR sales are still down but analysts say Tata Motors is healing</a>

Bring EV financing under priority sector lending, urges SMEV

New Delhi, Jan 17 () Progress across major development schemes in India, including education, health and nutrition among others, remains constrained due to sub-optimal utilisation of available funds, especially at the district level, according to a recent study by Tata Trust.
The study by Tata Trust and Centre for Budget and Governance Accountability (CBGA) stressed that India needs to improve utilisation of budgetary resources, across all levels of governance, given the limited fiscal space available to the government.
"Progress across major development schemes in India, including education, health and nutrition, water and sanitation, agriculture and rural development, livelihood, among others, remains constrained due to sub-optimal utilisation of available funds, especially at the district level," Tata Trust said in a statement.
According to statement, pressing challenges related to staff shortages, their capacity, transparency and
accountability in public financial management, monitoring have not received adequate attention.
"These need to be addressed urgently. There are also concerns with respect to the quality in fund utilisation across schemes," it said.
The 2-year study focused on ten social sector schemes including Sarva Shikshya Abhiyan (SSA), Mid-Day Meal (MDM), National Health Mission (NHM), Integrated Child Development Scheme (ICDS) and Swachh Bharat Mission (SBM).
 Other schemes included National Rural Drinking Water Programme (NRDWP), Mahatma Gandhi National Rural Employement Guarantee Scheme (MGNREGS), National Social Assistance Programme (NSAP), Pradhan Mantri Awas Yojana (PMAY), Pradhan Mantri Fasal Bima Yojana (PMFBY) and Rashtriya Krishi Vikas Yojana (RKVY) in five districts across of Balasore and Bolangir in Odisha, Chandrapur in Maharashtra, East Singhbhum in Jharkhand, and Krishna in Andhra Pradesh. BKS MKJ

Progress of top development schemes remains constrained in India: Study

New Delhi, Feb 1 () The Centre will soon announce a new education policy and the government has received over 2 lakh suggestions on it, Finance Minister Nirmala Sitharaman said on Saturday.
 Presenting the Budget for 2020-21, Sitharaman said Rs 99,300 crore has been allocated for the education sector and Rs 3,000 crore for skill development for the next fiscal.
Steps will be be taken to attract external commercial borrowing and FDI in the education sector, the finance minister said.
 She further said the government plans to start a programme for urban local bodies to provide opportunities for internship to young engineers.
 She also said National Police University and National Forensic University are being proposed, while planning to allow degree level full-fledged online education programme by institutions ranked in top 100.
 The government has also proposed to attach medical colleges with district hospitals on PPP model to deal with shortage of doctors, she added.
Special bridge courses will be designed for teachers, nurses, para medical staff, caregivers, she said.
 Allocation for Swachh Bharat for 2020-21 stands at Rs 12,300 crore, and the government is proposing Rs 3.6 lakh crore towards piped water supply to households. TEAM MBI RKL ANZ
 
 RKL ANU
ANU

Govt to bring new education policy; allocates Rs 99,300 cr for sector in FY21

No foundation for oppn criticism of Budget:BJP in RSNew Delhi, Feb 11 () Hitting back at the Congress forits "incompetent doctors" remark on handling of the economy,the BJP on Tuesday said there was no foundation for theopposition criticism and termed as "wrong" the diagnosis andtreatment of the economy done during the UPA regime.Participating in the discussion on the Finance Bill, BJPmember Ashwini Vaishnaw said the Union Budget for 2020-21 hastaken care of all sections of society and all sectors toensure all-round development of the country.He said the demand will rise due to increased spendingpower and the government has infused money to increase publicsector spending."Our doctor is right and our diagnosis is alsoright....You did vote bank politics, while we are doing'sabka saath, sabka vikas,' he said."Your diagnosis was wrong and your treatment was wrongtoo. There is no foundation for your criticism. But you areindulging in misleading the country," he said.Initiating the debate on the Union Budget for 2020-21,Congress leader P Chidambaram had said on Monday that theeconomy was close to collapse and was being attended by "veryincompetent doctors."The BJP MP said investment and demand will rise throughthis budget and every section of society will be benefited.Justifying the RBI paying the government out of itsreserves, he said it is the duty of every central bank toreturn extra income to the government and central banksacross the world do this.Opposition members said the Budget has not lived up toexpectations and fails to address challenge faced by theIndian economy.They also attacked the Union government for the "step-motherly" treatment to states and privatisation of publicsector units including Life Insurance Corporation of India(LIC).PL Punia (Congress) said the government is not ready toaccept the crisis in the economy and urged the financeminister to consult experts to address the problem.He also accused the government of doing nothing for thewelfare of scheduled castes and tribals, saying sub-plansbe restored for SCs and Tribals.Continuing the debate on the Budget, TRS member K KeshavaRao said the Budget has set up an ambitious disinvestmenttarget and would be difficult to achieve. He said the dual taxsystem proposed in the Budget would benefit charteredaccountants.The TRS member also raised the issue of "step motherly"treatment being given to States in devolution of taxes.Binoy Vishwam (CPI) said the economy is already on"ventilator" and the Budget does not provide any solution toit.He accused the government of selling off national wealthto select private companies.Vishwam said even the BJP-RSS affiliated trade union BMSis opposing the stake sales in the LIC. He also rued thatallocation for MNREGA has been lowered by around Rs 10,000crore.BSP member Veer Singh said the Centre has "ruined" theIndian economy and unemployment is at a 45 year-high. Hecharged the BJP-ruled central government has failed to fulfilits promises.He alleged the Centre is ending reservations for SC/STsand OBCs.Singh asked the government to provide reservation toSC/STs and OBCs in private sector if it is serious andcommitted to welfare of backward classes.Kumari Selja of the Congress focused on Haryana in herspeech and said the State has not got its due in terms ofallocation of funds."There was lot of expectation from the Budget that itwill address problems of the country as well that of women,"she said, adding the Budget turned out to be a damp squib.The Congress leader raised the reservation issue andaccused the Central government of misleading the House.Participating in the debate, BJP leader RajeevChandrashekar said the Budget continues to address the "mess"in the economy left by the previous government. The UPA regime had left the economy in a crisis andfinancial market in a devastating state as scams explodedowing to loans given to 10 groups, he charged. "This nightmare was turned around by our government...Oureconomic management is in sharp contrast to theirs. We havedelivered unprecedented macro economic strength to theeconomy. This is the fact," he said, listing out achievementsof the Modi government in the last six years. However, there were cyclical and structural issues owingto disruptions in global trade, he said and added, "theseare growing pains in any economy and the government willaddress them all."Hitting out at Chidambaram for the doctor remarks, theBJP leader said, "Atal Bihari Vajpayee's government had lefthealth and robust patient (economy) and handed it over to adream team of doctors (Congress) which after ten years left itterminally ill... "But the Modi government revived it although some painremains and that will be addressed. The government will notleave the patient to relapse," he said, adding the Budget 2020is a "careful and prudent" budget. He said the government is off to a good budget start andhopes to achieve the target of USD 5 trillion economy. Criticising the budget, Congress leader Ripun Bora said itwas the "longest budget with shortest expectations" and listedout failures of the present government. He said the government has not set up a mechanism fordoubling of farmers' income. The budget allocation has beenmade only for 100 water stressed villages even though thegovernment's survey had identified 255 villages in 2019. Even on ease of living, the government has not made anyprogress as purchasing power of people has been decliningbesides there is rise in prices of essential items and growingunemployment, he said. Although one cooking gas cylinder is given free under theUjwala Scheme, people are not able to afford subsequentcylinders at such high rates, he said.Bora said a person gets rice at a subsidised rate of Rs3/kg from ration shops but to cook it he needs Rs 45 per litrefor kerosene and over Rs 1,000 per cooking gas cylinder. On Swachh Bharat Mission, he requested the House to senda parliamentary panel to Assam to check the quality of toiletsbeen build under this programme. Most toilets are notfunctional as they are not clean in the absence of water andeven quality of construction is poor. On unemployment, the Congress leader said lowerallocation of Rs 3,000 crore for skill development shows thelevel of government's commitment towards resolving the problemof unemployment in the country.Similarly on developing smart cities, the budgetallocation has been made for only five cities, although 100cities were identified, he said, adding Assam was ignored inthe budget. "Overall, this budget is not 'Sabka Sath, Sabka Vikas', itis Ambani and few companies' vikas," he charged. NKD MJHSKC LUXDV DV

RS-BUD-DEBATE

New Delhi, Jan 31 () India is on track to achieve its Nationally Determined Contributions under the Paris Agreement, the Economic Survey said.
 India has strived to ensure that it follows a growth path that delivers sustainable development and protects the environment by investing in various schemes aligned with its Nationally Determined Contributions (NDC) under the Paris Agreement in accordance with principles of equity and common but differentiated responsibilities, the survey has stated.
"India is on track to achieve its NDCs (goals). The survey further highlights the significant leap in India's renewable energy sector i.e. 83 GW targets being achieved out of aimed target of 175 GW Renewable Energy under one of the world's largest renewable energy expansion programs," the Survey said.
Swachh Bharat Mission (Urban) was launched in 2014 with twin objectives of ensuring 100 per cent scientific solid waste management and making urban India open defecation free (ODF) to achieve total environmental improvement, the Finance Ministry said in a release. 
 All Urban areas of 35 States/UTs have become ODF and percentage of waste processing rose from around 18 per cent to 60 per cent.
India's decision to revise the National Action Plan on Climate Change (NAPCC) is in line with NDCs to make it more comprehensive. Schemes like UJALA for LED bulb distribution have crossed 360 million mark, while street lighting programme under which 10 million conventional street lights were replaced by LED street lights resulting in saving 43 million tons of CO2 emission.
"In the solar sector, the International Solar Alliance (ISA) has taken up the role of enabler by institutionalizing 30 fellowships from the member countries; of facilitator by getting the lines of credit worth USD 2 billion from EXIM Bank of India and USD 1.5 billion from Agence Francaise de Development (AFD), France; of an incubator by nurturing initiatives like the solar risk mitigation initiative and of an accelerator by developing tools to aggregate demand for 1000 MW solar and 2,70,000 solar pumps," the ministry said.
Recently, India also launched the coalition for disaster resilient infrastructure (CDRI) on sidelines of UN Secretary General's Climate Action Summit in September 2019.
 CDRI aims to promote resilience of new and existing infrastructure systems to climate and Disaster Risks to reduce the infrastructure losses from Disasters.
India has the second largest emerging green bond market after China.
"The Survey also expressed concern over crunch issue in climate finance .Green Climate Funds' first replenishment (2020-2023) so far witnessed 28 countries pledging resources to replenish the fund for an amount of USD 9.7 billion which is quantitatively lower than the Initial Resource Mobilization (IRM) period.
 "The Survey further expressed a hope that India will continue to do its fair share of responsibilities while strongly calling for developed countries to take the lead," the statement said. ABI MR
MR

India on track to meet NDC goals under Paris Agreement: Survey

<ul><li>China ranks as the third-largest market in the world in terms of unit case volume. </li><li>Coca-Cola India reached the milestone of 1 billion Unit Case.</li><li>India being one of the strategic markets for The Coca-Cola Company, continues to make a strong contribution to TCCC global results, presenting opportunity and growth potential. </li><li>Coca-Cola plans to take homegrown brands like <keyword id="109079" type="ENTERTAINMENT" weightage="20" keywordseo="Thums-up">Thums Up</keyword> and <keyword id="384195" type="ENTERTAINMENT" weightage="20" keywordseo="mazaa">Mazaa</keyword> globally in other markets. </li></ul>Coca-Cola India has progressed into the new decade by becoming the fifth largest market by volume for The Coca-Cola Company. Coca-Cola India achieved this feat on the back of an impressive 1-billion-unit case sale in 2019. Contributing to the ‘solid growth’, India presents a promising opportunity to become one of the top three markets for the company soon. Coca-Cola in India is transforming into becoming a ‘Total Beverage Company with strong local roots.’ For the last two years, the portfolio of beverage offerings has expanded in a segmented manner. The company has acutely focused on listening to the consumers and offering beverages to match their evolving preferences and going hyper-local. India being one of the strategic markets for The Coca-Cola Company, continues to make a strong contribution to TCCC global results, presenting opportunity and growth potential. Coca-Cola India has also optimized manufacturing and distribution networks to find the best ways to regionalize its business and create more opportunities for its local bottling partners. During his last visit, James Quincey, Chairman and Chief Executive Officer of The Coca-Cola Company had set the goal for Coca-Cola India to become the fifth largest market for the company with aim to be amongst the top three markets in future. Robust country performance The Coca-Cola Company has made strong value share gains with contribution from both sparkling and non-sparkling offerings. On its way to become the third largest market within the system, Coca-Cola India will continue to accelerate its evolution by offering choice to its consumers. As a part of company’s refreshed approach, Coca-Cola India will continue to grow its core brands by rolling out new variants across Thums Up, Limca, Fanta, Sprite and Maaza, including no-sugar extension; at the same time diversifying its portfolio by entering new beverage categories like enhanced hydration, nutritious dilutables and beverage-plus at affordable price point The company also has robust plans to market marquee Coca-Cola India homegrown brands like Thums Up and Mazaa globally in other markets. Doing Business Responsibly The company has identified and launched significant global and local initiatives as a part of this endeavour to be a true enabling partner in the growth of all its stakeholders. Global initiatives like ‘World Without Waste’ where by 2030, for every bottle or can sold globally, the company aims to help to take one back, so it has more than one life—a one-for-one collection and recycling system. The India chapter of ‘World Without Waste’ initiative is aligned to the Government of India's Swachh Bharat (Clean India) Mission, where the company’s bottling partner, Hindustan <keyword id="6369745" type="ORGANIZATION" weightage="100" keywordseo="coca-cola">Coca Cola</keyword> Beverages Private Limited (HCCBPL) in partnership with the United Nations Development Programme (UNDP) launched Project Prithvi which is operational in 28 cities across India and plans to roll out in 50+ cities across India by 2020.

India is the 5th largest market for Coca-Cola globally

<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>, in an interview to ANI, said the opposition alleging that his government is a 'suit-boot ki sarkaar' is definitely better and more acceptable than being labelled a 'suitcase' (ki sarkaar), and satirically added, that after ruling for sixty years, the <keyword id="1575" type="ORGANIZATION" weightage="20" keywordseo="Congress">Congress</keyword> has suddenly remembered the poor. 

	Excerpts:
 

	1. In a scale of 1-10, how would you grade your government?
 

	It is for the people of this country to grade and evaluate us. How can I take away their right? I have presented my report card to the country. Recently, media has published the findings of some surveys. You would already have seen them. I can only say that we have laid a solid foundation on which the people can rate us.
 

	2. You came in with the promise of 'Acche Din.' Have you been able to meet the goals that you set for yourself in the first year of the government?
 

	Yes. I am fully satisfied with the work that we have done. The most satisfying part of this year is that we have lived up to the promise that our intentions will be pure and our actions will be driven by long-term national interest. Recall the situation one year ago. Massive corruption at various levels of Government gave rise to scams on a regular basis. Our precious natural resources were going into the hands of a chosen few. In contrast, there are neither any charges of corruption against my Government nor any scandals. Corruption was seen as the biggest problem. We have given a clean, transparent and efficient Government. Burey Dino Ki Vidayee Hui hai. (Bad days are over). Is this not Acche Din for the country?
 

	3. What has been the single big success in the past year? 
 

	The achievements and successes of my government are numerous. However, I know that the success of a government's journey lies in reaching the last man. Therefore, our efforts were directed towards the poor and marginalized. We have also paid special attention to remote corners of the country. Our objective is to transform quality of life, infrastructure and services. We have worked simultaneously on all fronts which bring a smile on the face of the common man. I can give you some examples. From controlling food prices to enhancing farm productivity; improving Railways to strengthening Roads; generating electricity to its 24x7 availability; building school toilets to setting up IITs, IIMs and AIIMS; building houses for the homeless to upgrading our heritage cities; cleaning surroundings to bridging the digital divide; making world class products to skilling and employment generation; strengthening the banking system to funding the unfunded; ensuring labour welfare to providing social security to common man; rejuvenating rivers to irrigating fields; from enhancing co-operation with States to deepening foreign relations; we have worked at an energetic pace and with innovative spirit. 
 Bringing back black money was a major electoral promise, but then your party president, <keyword id="6355521" type="PERSON" weightage="20" keywordseo="Amit-Shah">Amit Shah</keyword> gave the word 'jumla' to it and Arun Shourie criticized the procedures adopted by the finance ministry. How committed is your government in bringing back black money to India? 

	My Government is fully committed on the issue of Black Money. We want to crack down severely on tax evasion and black money. I had taken up this issue with world leaders during the G-20 summit. In our very first cabinet meeting, we formed an SIT. Then, we presented a new legislation in Parliament which is very stringent. We want to make it more difficult to evade taxes and siphon money abroad. We are also aggressively pursuing cases against those who have stashed funds illegally in foreign banks. Recently the names of some such persons have been revealed. We are also trying to move towards cashless transactions. We want to make maximum use of ICT in our tax administration.
 

	At the same time, we want to remove the discretion which causes corruption and generation of Black Money. Hence, we promulgated ordinances in sectors like coal and mines. It has proved to be a good step. We have generated Rs. 3.30 lakh crore for the country so far through transparent auction of some coal mines. Similar is the case with auction of spectrum. I can say that if your intentions are noble, you are sure to get success and required support.
 

	5. Key bills like the Land Acquisition Bill has got stiff opposition from the opposition. They have been able to create doubts about the government's intention. What do you have to say? 
 

	Opposition to our Land Bill is totally unjustified and unfortunate. We have not made any changes for private industry. Moreover, if you have money, you don't need a Land Acquisition Act to accumulate land. Some individuals have done so in Rajasthan, Haryana, Shimla, Delhi etc. Land acquisition becomes necessary for government-driven strategic and development activities, especially in undeveloped areas. 
 

	This too is done mostly by State Governments. We have made changes only in response to demands of the States. The benefits of these changes will also accrue to the rural poor in terms of irrigation, housing, electrification, as well as better physical and social infrastructure.
 
 

	In this country, the Land Acquisition Act was almost 120 years old. The Congress-led Governments used the same Act after independence. Suddenly, before the last Parliamentary elections, the Congress went to another extreme by legislating an Act which is neither in the interest of farmers nor in the interest of the country's development. 
 

	Now, they are not even ready to sit and discuss. We believe in dialogue with all political parties. I have personally appealed in Parliament that we are ready to open a dialogue with political parties and consider their suggestions. I hope that the parties will cooperate on issues of larger national importance without getting into political calculations. 
 

	6. How are you going to convince the farmers of this country that you mean well?
 

	The proposed Land Acquisition Bill focuses on benefitting the farmer and balancing the long-term interests of the nation. The world is changing fast. Even farmers need canals to irrigate, roads to transfer products from farms to markets. They need hospitals, schools and houses. Farmers want modern amenities in their vicinity and jobs in formal sectors for their sons and daughters. I have always believed that if we want inclusive development, we need amenities. We need to match the development of such amenities with agricultural growth. This is what the Bill strives to do while safeguarding the interests of farmers. Our amendments only aim to do away with the bureaucratic bottlenecks in the 2013 Act. I am sure the farmers of this country will understand where their real welfare lies.
 

	7. Agriculture is in distress in the country. To a large extent the problem is endemic and decades of mismanagement have resulted in the present situation but how does your government plan to stem the tide of farmer suicides and farming stress?
 
 The root causes of the problem find mention in your question itself. This is a very important issue and the Government is concerned about it. We have responded to the recent agrarian crisis with alacrity. We have undertaken several reforms. The <keyword id="6362177" type="ORGANIZATION" weightage="20" keywordseo="union-government">Union Government</keyword> has enhanced the relief norms for compensation against crop loss by 50%. 

	The limit of minimum crop damage, for grant of compensation, has been reduced from 50% to 33%. Norms have been relaxed to allow procurement of damaged food grains at MSP rates. The target of agricultural credit has been enhanced in our two consecutive budgets. 
 

	But as you said, the problem in agriculture is endemic. Nothing much was done for six long decades. But we have started long-term steps for the farm sector. To address the issue of access to irrigation for every farm, and efficient utilization of water, the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) has been started. Blue Revolution which aims to improve production and productivity in the fisheries sector is also an action point. We have launched the soil health card scheme. The price stabilization fund with a corpus of Rs. 500 crores has also been set up for perishable commodities. Rashtriya Gokul Mission has been commenced with the objective of conserving and developing indigenous cattle breeds. We have made honest and sincere efforts for rural development. I have recently launched the Kisan Channel for giving timely information to farmers on inputs and markets. In the coming days, I would like to see more focused action on increasing Farm Productivity; Rural Industrialization; Skill Development in rural areas and rural trades, and faster Investments in Rural Infrastructure including cold chain.
 

	8. The opposition has termed your government as suit boot ki sarkar. What is your take on this allegation? 
 

	Suit-boot is definitely more acceptable than suitcase. After ruling for sixty years, the Congress has suddenly remembered the poor. People of this country have suffered and remained poor due to shortsighted policies of the Congress. Many countries of the world have surpassed us on all accounts including poverty removal. Congress did incremental work so as to keep the issue relevant for next election. Did the coal and spectrum scandals or the CWG fiasco benefit the poor? Everyone knows who were their beneficiaries - some chosen industrialists and contractors. The result of Congress's politics and governance of sixty years is that poverty is still our biggest challenge. One-fourth of the families are without shelter. Health, education, water, electricity and roads are even bigger unrealised dreams for a large number of citizens of this country. You should ask them- If you were pro-poor, why does poverty still exist in India?"
 

	9. Opposition says that your government is pro-industrialists.
 

	Those who gave away precious natural resources like coal and spectrum to their favourite industrialists have no right to say this. We are working for the common man of the country. 
 
 
 
 

	We implemented the Jan Dhan scheme and opened more than 14 crore bank accounts for financial inclusion. Earlier also, there were banks, as well as people without bank accounts. What did they do all these years?
 

	The so called pro-poor have been just repeating that there is leakage in subsidy. We used technology to ensure that LPG subsidy reaches the targeted person directly; We have launched MUDRA Bank for financing 6 crore small vendors and businesses 61% of whom are SCs, STs, OBCs and Minorities; We have launched the Pradhan Mantri Krishi Sinchai Yojana which the Congress did not think of in sixty years; We have planned to see that by 2022, no family remains without a roof over its head; The Soil Health Card scheme has been launched to enhance farm productivity and reduce expenses, thereby enhancing the farmer's income. 
 

	We have come out with a comprehensive social security scheme for the poor and marginalised, old and those with low income levels; Swachh Bharat Mission has been started to see that health and hygiene issues of the poor do not affect the working capacity and output of the poor and labourers; Railways, on which the common man travels, is being changed for the better.
 

	We have set up the Skill Development Ministry to enhance employability of the youth to whom we are committed to provide jobs through initiatives like 'Make in India'. In the past, the country had been led into an economy of jobless growth.
 

	We provided for reservation of women in the police forces of Union Territories. This was done even when there were no elections around the corner. 
 

	Through the regime of coal auction that we have put in place, more than Rs. three lakh crore have already been generated for the less-developed states of India. This money will be used for the poor of those states.
 
 These are just a few examples. Why were these things not done in the past sixty years. Who prevented them? Their worry is not that we are not pro-poor. Their worry is that they are being exposed as not being pro-poor. People are asking them: "If <keyword id="6360789" type="ORGANIZATION" weightage="20" keywordseo="Modi-Government">Modi Government</keyword> can think and do this in six to nine months, why could you not think and do it in sixty years." 

	10. You have travelled to 17 countries in 12 months...something that nobody expected you to do as you were seen as a novice on foreign policy matters. But you seem to enjoy running the country's foreign policy. Any comments? 
 

	Foreign engagements are international obligations on the part of the Prime Minister. All Prime Ministers have to do this. Moreover, this is an integrated world. We have to attend international, multilateral and bilateral summits, and build ties with our neighbours and other nations. Our foreign policy is mature and there is a full-fledged mechanism to pursue it. I have only added an element of dynamism to it. We have strived to strongly further our economic cooperation in the Asia-Pacific Region. We have endeavoured to nurture new economic partnerships and tap reserves of energy, minerals, technology and finance from major economies.
 
 11. In real terms, do you see that the Chinese will actually deliver on the financial pledge they have done, that the US will open up its markets for India, that Pakistan will give up its anti-India agenda? That our smaller neighbours will stop seeing us as a bully? Yes, I am sure that the commitments and agreements will be implemented. We have received a commitment from the Government of <keyword id="6355311" type="COUNTRY" weightage="20" keywordseo="Japan">Japan</keyword> for facilitating public and private funding of 3.5 trillion Yen - or approximately $35 billion dollars - over the next five years; there are agreements with China on two industrial parks and intended investments of 20 billion US dollars; there are investment plans of about 42 billion U.S. dollars from U.S. companies over the next five years. <keyword id="6358826" type="COUNTRY" weightage="20" keywordseo="Russia">Russia</keyword> has proposed to manufacture helicopters in India. With Australia and Canada, we have signed civil nuclear cooperation agreements, and other agreements to strengthen our energy security. With the United States, we have moved forward in implementation of the civil nuclear agreement and signed a significant partnership agreement to use renewable energy for rapidly expanding rural access to energy. There has been good response from financial institutions, including pension funds from Korea, Canada, Australia and the US. There is a strong support in all major economies for our "Make in India" programme. 

	In the neighbourhood, there has been forward movement on the 5600 MW Pancheshwar project in Nepal, that was stuck for the last 25 years. Similarly, with Bangladesh we have settled the land boundary issue. We are working with a spirit of mutual benefit. There is no question of bullying anyone. Our recent help to Nepal during the natural calamity shows that our approach is brotherly. With Pakistan too, we will pursue our long-standing approach. We will continue our efforts to advance cooperation and connectivity, without compromising our national security. 
 

	12. If we were to return to domestic issues, you have come for criticism from many for not being able to reign in vitriolic elements in your party who have made disparaging remarks against minorities. What do you say? 
 

	Our Constitution guarantees religious freedom to every citizen and that is not negotiable. The tradition of welcoming, respecting and honouring all faiths is as old as India itself. As Swami Vivekananda said: We believe not only in universal toleration, but we accept all religions as true. This principle of equal respect and treatment for all faiths has been a part of India's ethos for thousands of years. And that is how it became integral to the Constitution of India. Our Constitution did not evolve in a vacuum. It has roots in the ancient cultural traditions of India. I expect that everyone will understand and respect this.
 

	13. Why do some elements in your party feel emboldened to say awful things even though they ought to know that a Prime Minister of India cannot really support bigots in his cabinet? 
 

	I have said this before and I say it again: any discrimination or violence against any community will not be tolerated. My position on this is very clear: Sab ka saath, sab ka vikas. We stand for each of the 1.25 billion Indians regardless of caste or creed and we will work for the progress of each of them. Every faith in our country has equal rights; it is equal not only before the law but also before society. 

	 
	As published in ET.

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