VIKASIT BHARAT by 2047?
FINANCE Minister Nirmala Sitharam presented the interim Union Budget 2024 on Feb 1, 2024 and some people are praising it while as many are not, you make up your mind! This is an interim budget to pat the government on the back ahead of elections. She promises a fuller budget later as well as a white paper on mismanagement of finances till 2014.
Here are some of the highlights:
* This is an Interim budget to pat the government on the back ahead of
elections. She’s promised a fuller budget later as well as a white paper on
mismanagement of finances till 2014.
- This budget is a roadmap for Vikasit Bharat, a goal the government hopes to achieve by 2047. (Please note that fiscal deficit for the upcoming financial year will be 5.1%…so it’s another year of high credit growth.)
- There are no changes to taxation. (Please note that tax base of GST has doubled, average monthly GST collections have almost doubled, direct tax collections have trebled in the last 19 years, the government and its friends are rich, the people are not with very few exceptions.)
- She promises fiscal deficit to be below 4.5% of GDP by FY26. Number of tax-return files has jumped 2.4 times in last 10 years.
- Lower government borrowing to falicitate availability of credit for the private sector. This means the Centre will borrow less in the next fiscal year compared to current year.
- Total receipts other than borrowings: Rs30.90 lakh crore
- Tax receipts: 26.02lakh crore
- Fiscal deficit: 5.1% of GDP
- Gross borrowing through dated securities: aRs14.13 lakh crore.
- Net borrowing through dated securities: Rs11.75 lakh crore.
Plus, this bit. The World Bank has projected a growth rate for India at 6.4 per cent for the current financial year, and a marginally higher expansion in the GDP at 6.5 per cent for 2024-25. Another leading multilateral agency ADB has raised the growth outlook for India to 6.7 per cent for 2023-24 from 6.3 per cent, following faster than expected expansion in July-September, driven by double digit growth in industry. Bottomline: the Centre expects 11.5% growth in tax revenue in FY25.
Where will the money go? Your guess is as good as ours! Finance Minister Nirmala Seetharaman says the focus will be on garibi hatao, youth, women and infrastructure. Some budget critics say, “Paisa hamara hai credit sarkar le rahi hai!” And what does the free rations for 80 crore Indians mean? Has the country’s poverty really gone down or is it growing? So that we see a continuity of rich sarkar-poor public syndrome? Good questions to ask. Ask away!
In the meantime to quote Goan industrialist and GCCI’s president, Shrinivas Dempo, after this year’s budget viewing session on Thursday, February 1 at the Surendrababu Timblo Convention Hall: “The budget has provided great opportunity for Goa’s tourism sector. We can take advantage of the schemes. We are at the bright spot!” India is the shining star in the global order today.
NO BUDGET SOPS
SURE
of victory in the forthcoming parliamentary elections,
Finance Minister Nirmala Seetharam did not think it necessary to offer any sops
in her 6th Union budget presented on February 1, 2024.
The ceiling for income-tax remains the same. There are no tax rebates for any section. The middle class is disappointed with the budget. The biggest outlay is for defence. The emphasis continues on infrastructure. Innovation gets a new thrust. The Gujarat Investment Centre gets a lot of gifts in tax concessions. Industrial units set up under GIFT will get a tax holiday for ten years.
We think Nirmala bai used the budget speech to blow Narendra Modi’s trumpet. She claimed that 80 crore people got free rations. She also claimed that 20 crore people have been lifted out of poverty. Prime Minister Modi announced the setting up of a high–powered committee to address the rapid rise in population. This is targeted at the Muslim community.
GYANVAPI VICTORY
THE Hindus of Varanasi have won a major victory. The Varanasi district judge allowed permission for Hindus to worship in the basement of the Gyanvapi mosque. In earlier rulings the Hindus were allowed to worship till 1993. After that the high court had banned worship by Hindus. But with the new permission granted the Kashi Vidyapeeth has been asked to assign a priest for worship there anew. The Shingar Gowri and other visible deities are located in the cellars of the mosque which the litigants say was built upon the razing of the temple during Aurangzeb’s reign.
PAYTM STOPPED
THE online portal patent has been asked to stop all operations after February 29, 2024. From March 1 no deposits may be made. Only transfers and withdrawals will be permitted. This will be only the balance is exhausted. This will apply to all transactions through Paytm. Other payment gateways like Rupay and Googlepay are not affected.
HOUSING PREMIUM
BUYERS will have to pay 2% of the rate at which they buy a house to the housing cooperative society. Till now only Rs10,000 was payable for from the premium amount for transfer of shares. Now for every one lakh the buyer will have to pay two per cent. This is in addition to stamp duty.
JAI SHRI RAM!
HEMANT Soren has quit as chief minister of Jharkhand. The Congress party has named his successor to be Champai Soren. No, he is not a relative of Hemant Soren. The former chief minister who resigned on Wednesday, January 31 was arrested by the Enforcement Directorate in a money-laundering case; reportedly a team of seven ED officers along with nine vehicles of CRPF police surrounded the residence of Hemant Soren to arrest him.
PROPERTIES RIGHTS OF WOMEN
THE VM Salgaocar College of Law, Miramar in collaboration with the National Commission for Women, organized a one-day regional consultative Western India workshop on the Rights of Women under Property Law on January 27, 2024 at the college premises.
The organizing committee constituted Principal Dr G Shaber Ali; Vice-Principal Dr Kim Couto (co-ordinator); Asst Prof Disha Sardesai (co-Coordinator; Bhavika Sharma (JTE legal, Legal Cell, National Commission for Women, New Delhi). The workshop had 30 expert panellists from the states of Gujarat, Rajasthan, Madhya Pradesh, Maharashtra, and Goa. The panel comprised of judges, lawyers, NGOs, law professors and the police department.
The inaugural lighting of the lamp was witnessed by chief guest Irshad Agha, Principal District & Sessions Judge-South Goa Sayonara Telles-Laad, president of Children’s Court Principal Dr G Shaber Ali; Vice-Principal Dr Kim Couto and Bhavika Sharma (JTE legal, legal cell, National Commission for Women, New Delhi).
Various speakers addressed the status of women’s property rights from the perspectives of different legal provisions under the Indian laws. Various aspects under the property law ranging from succession, coparcenary right to maintenance under the personal laws and Portuguese Civil Code were scrutinized. At end of the session all 30 panelists gave valuable insight on various related topics and the few lacunae which existed in the laws, making recommendations to the National Commission for Women, New Delhi. There was a valedictory ceremony in which certificates and tokens of appreciation were awarded to the panelists and votes of thanks were given by Dr Kim Couto and Asst Professor Disha Sardesai.
MAHATMA GANDHI A `LIGHTHOUSE!’
GOVERNOR of Goa PS Sreedharan Pillai inaugurated the Mahatma Gandhi Square and unveiled panels depicting important aspects in the life of Mahatma Gandhi, on the occasion of Martyrs Day, near the New Durbar Hall at Raj Bhavan on January 30, 2024. These panels are installed in Association with Goa Arts College, Altinho, Panaji. Governor Pillai in his talk highlighted Gandhi’s vision of Ramrajya, emphasizing truth, equality and justice. He said Mahatma Gandhi is considered as a lighthouse for every generation, serving as a beacon of wisdom and inspiration. Furthermore Mahatma Gandhi is our national hero and his leadership and philosophy continue to play a pivotal role in India’s struggle for independence. First Lady ARita S Piullai and secretary to governor MRM Rao (IAS) were present on the occasion.
VINTAGE CAR/BOOK EXHIBITION AT RAJ BHAVAN
CHIEF MINISTER Dr Pramod Sawant inaugurated the Vintage Cars Exhibition, an initiative of the Raj Bhavan, at the Raj Bhavan on the occasion of the 75th Republic Day of India on January 26. Later the CM inaugurated a books exhibition, another initiative of Governor Pillai, at the Old Durbar Hall of Raj Bhavan. Two hundred books authored by the governor were on exhibit to help students as well as visitors — to enhance their reading, comprehension skills and build their knowledge.
The car exhibition featured the vintage Cadillac car of the Raj Bhavan. This luxury limousine car was procured in 1959 and has been used for ceremonial functions after the liberation of Goa, Daman and Diu in 1961. Those who appreciated the cars Governor P S Sreedharan Pillai, Union MoS for Tourism Shripad Naik, Transport Minister Mauvin Godinho, MLA, Nilesh Cabral, Chief Secretary Puneet Kumar Goel, IAS, Secretary to Governor MRM Rao (IAS) and others.
NoMoZo 2024 AT PORVORIM
THE 5th edition of NoMoZo kicked off with an array of activities and festivities, making the service road in Porvorim into a lively hub of energy and excitement. The declared No Motor Zone kicked off in Panaji on January 28 on a great note, setting the stage for a day filled with community involvement, vibrant displays, and diverse experiences.
Thousands of people gathered at the service road in Porvorim, creating a lively atmosphere that stretched from the Directorate of Technical Education to ACDIL High School. Gracing the event were Minister of Art & Culture & Sports Govind Gaude, Bollywood actor Jackie Shroff, singer Hemaa Sardessai, amongst others. Jackie Shroff’s presence made the crowd go wild as the actor in his inimitable style greeted and interacted with them while walking the 3.5 km stretch, he exhorted them, “You all have the opportunity to grow and accomplish your goals in life. It is our duty to take care of our land, the soil, the water and all other resources bestowed upon us by God. We have to preserve our land for our children, the future.” He also advocated cycling to keep fit and stay healthy.
Tourism Minister and Porvorim MLA Rohan Khaunte said, “NoMoZo has grown from a small idea that was to give our grandparents clean air to breathe, a space to move about freely, without the hindrance of traffic. Over the years the people of Porvorim have made this event their own and have helped it grow.” He added that this event brought together students, teachers, families, the whole ecosystem together. It is an event of inclusivity. He thanked Ninil D’Souza and his entire team who made the NoMoZo 5.0 a success once again.
Visitors explored the wonders of the Astronomy Zone, adopted wellness in the Health Zone, indulged in artistic expressions at the Art Zone, and celebrated environmental consciousness in the Eco Zone. The Pet Zone provided a space for pet lovers, and the Boxing Zone added a pumping touch. Over100 stalls offered a diverse range of shopping and culinary delights, from crafts to mouth-watering food, shopping and a dining experience. Calangute MLA Michael Lobo with spouse Siolim MLA Delilah Lobo and Mandrem MLA Jit Arolkar were seen enjoying the event’s offerings.