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org @kamalsandeshbjp
Budget will empower the poor, This budget strikes a fine balance
strengthen the farmers and between financial prudence and
16-28 FEBRUARY, 2019 I KAMAL SANDESH I 1
make the economy stronger. welfare of the citizenry.
BJP National President Shri Amit Shah flanked by Union Home Minister, Shri Rajnath Singh flagging off the
‘Mann Ki Baat- Modi ke Saath’ campaign in New Delhi
BJP National President Shri Amit Shah addressing a huge UP BJP welcomes BJP National President Shri Amit Shah at the
Trishakti Sammelan in Dehradun, Uttarakhand Booth Adhyaksh Sammelan of Kanpur-Bundelkhand region in
Kanpur, Uttar Pradesh
BJP National President Shri Amit Shah flagging off Praja Union Minister Shri Nitin Gadkari along with Union Minister
Chaitanya Yatra from Palasa, Andhra Pradesh Shri Dharmendra Pradhan, Odisha BJP President Shri Basant
Panda and others inaugurating ‘#BharatKeManKiBaat - Modi ji
ke saath’ in Odisha.
Editor
Prabhat Jha
Executive Editor
Dr. Shiv Shakti Bakshi
Associate Editors
Ram Prasad Tripathy
Vikash Anand
Creative Editors
Vikas Saini
Mukesh Kumar
Phone
+91(11) 23381428
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+91(11) 23387887
‘ A budget for New India and for all Indians’
06
E-mail Interim Budget 2019-20 was presented in Parliament by the
[email protected]
[email protected] Union Minister for Finance, Corporate Affairs, Railways and
Website: www.kamalsandesh.org
Coal, Shri Piyush Goyal on 01 February, 2019. Besides having...
et 2 0 1 9-20
Budg
I
nterim Budget 2019- is launching a historic programme that through the measure, the
20 was presented in PM-KISAN with an outlay of Government wants to promote
Parliament by the Union Rs.75,000 crore for the FY 2019-20 further growth over 7% to promote
Minister for Finance, Corporate and Rs.20,000 crore in the Revised livelihood of about 1.45 crore
Affairs, Railways and Coal, Shri Estimates of FY 2018-19”. people dependent on the sector.
Piyush Goyal on 01 February, Under this Government of India The Finance Minister
2019. Besides having a major funded Scheme, Rs.2,000 each announced 2% interest subvention
Scheme for the farmers, it provides will be transferred to the bank to the farmers pursuing the
tax concession and sets the accounts of around 12 crore Small activities of animal husbandry and
Developmental Agenda for the and Marginal farmer families, in fisheries, who avail loan through
years to come. three equal installments. This Kisan Credit Card. Further, in
A New Deal for 12 Crore Small programme would be made case of timely repayment of loan,
and Marginal farmers with direct effective from 1st December 2018 they will also get an additional 3%
income support, a path breaking and the first installment for the interest subvention.
Pension initiative for 10 Crore period upto31st March 2019 would Allocation of Rs.750 crore for
unorganized sector workers, be paid during this year itself, Shri Rashtriya Gokul Mission has been
exempting income up to Rs 5 lakhs Goyal said. announced for the current year
from Income Tax, reforms in stamp To provide sustained and itself. Setting up of “Rashtriya
duty, highest ever budgetary focused attention towards Kamdhenu Aayog” to upscale
allocation of Rs 3 lakh crore for development of Fisheries, the sustainable genetic upgradation
Defence, record allocation of Government has decided to of cow resources and to enhance
funds at Rs 58,166 crore for North create a separate Department of production and productivity of
Eastern Areas, a new AIIMS for Fisheries. Finance Minister said cows has also been announced.
Haryana, single window clearance
for Indian film makers at par with
foreigners and higher budgetary
allocations for Education, Health,
Infrastructure and for the welfare
of weaker sections including
Scheduled Castes and Scheduled
Tribes, a Separate Department of
Fisheries for welfare of 1.5 crore
fisherman are some of the major
highlights of the Interim Budget
2019-20.
Major Schemes
New Scheme- namely “Pradhan
Mantri KIsan SAmman Nidhi (PM-
KISAN)” to extend direct income
support at the rate of Rs. 6,000
per year to farmer families, having
cultivable land upto 2 hectares is
announced.
While presenting the Interim
Budget 2019-20, Shri Piyush
Goyal said that “our Government
Shri Goyal also said that 14 of The Finance Minister be of over Rs.3 lakh crore.
the 21 AIIMS operating or being announced that a National Artificial The Finance Minister, Shri Piyush
established in the country presently Intelligence Portal will also be Goyal pointed-out that domestic air
have been announced since 2014. developed soon as a part of the traffic passengers have doubled
He also announced setting up of a National Programme on ‘Artificial during the last five years, leading
new - the 22nd AIIMS in Haryana. Intelligence’. to large number of jobs also being
Allocation for Integrated Child The Department of Industrial created. The number of operational
Development Scheme (ICDS) is Policy and Promotion will now airports has crossed 100 with the
being increased from Rs.23,357 be renamed as the Department commissioning of the Pakyong
crore in RE 2018-19 to Rs.27,584 for Promotion of Industries and airport in Sikkim. Arunachal
crore in BE 2019-20. Internal Trade. Pradesh came on the air map
A substantial increase is The Finance Minister stated that recently and Meghalaya, Tripura
proposed in the allocation the Government e-Marketplace and Mizoram have come on India’s
for welfare of the Scheduled (GeM), created by the present rail map for the first time.
Castes and Scheduled Tribes. Government two years ago, Capital support from the budget
The allocation of Rs.56,619 resulted in average savings of for Indian Railways is proposed
crore made in BE of 2018-19 25-28% and the platform will at Rs.64,587 crore in 2019-20
for Scheduled Caste, further now be extended to all CPSEs. (BE). The Railways’ overall capital
increased to Rs.62,474 crore in Transactions of over Rs. 17,500 expenditure programme is of
RE is proposed to be enhanced to crore have taken place so far. Rs. 1,58,658 crore. The Finance
Rs.76,801 crore in BE for 2019-20, The Finance Minister Minister, who is also holding
an increase of 35.6% over BE of announced that for the first time, the portfolio of Railway Ministry,
2018-19. For the Scheduled Tribes the country’s Defence Budget will announced that the Operating Ratio
also, proposed allocation in 2019-
20 BE is Rs.50,086 crore as against
Rs.39,135 crore in BE 2018-19, an
increase of 28%.
The Finance Minister said that This budget is not only realistic & addresses
a Welfare Development Board the current challenges of the economy, but
to frame special strategies for is at the same time progressive, laying out
the benefit of the hard-to-reach the Vision for India at 2030.
De-notified, Nomadic and Semi- —Mr Sandip Somany, President, ficci_india
Nomadic communities will be set up
under the Ministry of Social Justice Relief for middle class home owners and for
and Empowerment. He said that a farmers would be a boost to agriculture,
Committee under NITI Aayog will animal husbandry and the realty sector!
also be set up to complete the task — Nadir Godrej, MD, Godrej Industries and
of identifying De-notified, Nomadic
Chairman, Godrej
and Semi-Nomadic communities
not yet formally classified.
Shri Goyal said under the Ujjwala In CII’s Pre-Budget Recommendations, we had
Yojana aiming delivery of 8 crore strongly recommended the need to focus on
free LPG connections, more than certain segments of the society. It is good to
6 crore connections have already see how Budget 2019 has focused on those lines.
been given and the remaining will — Chandrajit Banerjee, DG, CII
get free gas connections by next
year.
Labor Youth
• Employment opportunities expanded ; EPFO • Over one crore youth trained under Pradhan
membership increased by 2 crore Mantri Kaushal Vikash Yojana
• Minimum income for every category of workers • Self-employment boost through MUDRA,
increased by 42% in last 5 years STAND-UP and START-UP India
B
haratiya Janata Party National President Shri government will drive out every single infiltrator from
Amit Shah on 06 February, 2019 targeted the the country. Infiltrators can be vote bank for the SP
opposition parties over contentious issues and BSP but it is a question of national security for
including Ayodhya dispute and the National Register the BJP,” Shri Shah said.
of Citizens (NRC) while addressing a huge rally of The BJP President mocked the opposition’s
party’s booth-level workers in Aligarh, Uttar Pradesh. attempt to present a united front against the BJP-led
He said the BJP is committed for construction of a NDA in the upcoming Lok Sabha elections saying,
Ram temple at the same site in Ayodhya and dared “The grand alliance is a farce…It won’t make any
the Congress, the Samajwadi Party (SP) and the difference to the election results.”
Bahujan Samaj Party (BSP) to clarify their stand on He said West Bengal Chief Minister Mamata
the matter. Banerjee, Andhra Pradesh Chief Minister N
Shri Shah said the Narendra Modi government Chandrababu Naidu and other leaders of the grand
submitted an affidavit in the Supreme Court to return alliance are all regional leaders with no national
the land acquired near the disputed site in Ayodhya influence.
by the Centre to its owners. “We want that a grand The BJP President also took a dig at Congress
Ram temple is constructed at the same spot (where president Rahul Gandhi for dismissing the assured
there was Mughal era Babri Mosque). The Congress, income assistance scheme – PM Kisan - for the
the SP and the BSP, if they have guts, should clarify farmers announced in the Budget 2019 by the Modi
their stand on Ram temple,” said Shri Amit Shah. government. Shri Shah said the previous Congress-
On the question of the NRC, which is being led UPA government gave Rs 53,000 crore to farmers
prepared for Assam, Shri Shah said the Modi as loan waiver while the Modi government announced
government wants to implement the register of an annual scheme of Rs 75,000 crore for assured
citizens but Congress president Rahul Gandhi and income of farmers.
other opposition leaders are opposing it. Should not Among others UP Chief Minister Yogi Adityanath,
we drive away the infiltrators, Shri Shah asked the UP BJP President Shri Mahendra Nath Pandey, Union
huge gathering from the stage. minister Smt. Maneka Gandhi and other leaders
“After winning 2019 Lok Sabha elections, the Modi attended the rally.
Government’s Achievements
during 2014-19
State of the Economy allowing most FDI to come Rs. 50, 000 crore p.a. in electricity
• India universally recognized as a through the automatic route bills due to LED bulbs
bright spot of the global economy • 10 lakh patients benefited from
during last five years Farmers free treatment under Ayushman
• “Country witnessed its best • Assured MSP of minimum 50% Bharat
phase of macro-economic to all 22 crops • Jan Aushadhi Kendras providing
stability during 2014-19”, says • Interest subvention doubled in medicines at affordable prices to
FM last 5 years poor and middle class
• India is now the 6th largest • Soil Health card, Neem coated • 14 out of 21 AIIIMS operating
economy in the world from being Urea game changer in farm presently have been announced
the 11thlargest in 2013-14 sector since 2014
• Annual average GDP growth • Government tripled rural roads’
during 2014-19 higher than any Labor construction under the PMGSY
government since 1991 • Employment opportunities • 15.80 lakh habitations out of
• Government has broken inflation’s expanded ; EPFO membership 17.84 lakh connected with pucca
back from backbreaking inflation increased by 2 crore roads
during 2009-14 • Minimum income for every • Rs. 19,000 crore for PMGSY in
• Average inflation down to 4.6%, category of workers increased by BE 2019-20 against Rs. 15,500
lower than during any other 42% in last 5 years crore in RE 2018-19
Government • 1.53 crore houses built under PM
• Inflation in December 2018 down Poor and Backward Classes Awas Yojana during the 2014-18
to 2.19% only • 10% reservation for the poor
• Fiscal deficit down to 3.4% in in educational institutions and Women development to
2018-19 RE from the high of government jobs women led development
almost 6% seven years ago • Free electricity connection • 6 crore free LPG gas connections
• CAD likely to be only 2.5% of to every household under provided under Ujjwala Yojna ; All
GDP this year against a high of Saubhagya Yojana 8 crore by next year
5.6% six years ago • World’s largest healthcare • 70% of MUDRA Loan availed by
• India attracted massive amount programme, Ayushman Bharat, Women
of FDI, worth $239 billion, during for nearly 50 crore people • Maternity leave extended to 26
the last 5 years • Aspirational Districts Programme weeks
• “India is solidly back on track for development in 115 most • Financial support for pregnant
and marching towards growth backward districts women under Pradhan Mantri
and prosperity”, says FM • Rs. 1,70,000 crore spent during Matru Vandana
• India becomes the fastest 2018-19 for cheaper food grains
growing major economy in the to poor and middle class Youth
world • 143 crore LED bulbs provided • Over one crore youth trained
• Double-digit inflation contained in mission mode with the under Pradhan Mantri Kaushal
and fiscal balance restored cooperation of private sector Vikash Yojana
• Liberalization of FDI policy, • Poor & middle class are saving • Self-employment boost through
MUDRA, STAND-UP and START- • Threshold for presumptive per month in the first year
UP India taxation of business raised from
Rs. 1 crore to Rs. 2 crore Infrastructure
MSME and Traders • Benefit of presumptive taxation • Civil Aviation – UDAN Scheme
• Up-to Rs 1 crore loans can be extended for the first time to small • Number of Operational Airports
availed in less than an hour professionals fixing threshold crossed 100
• 25%-28% is the average savings limit at Rs. 50 lakh • Latest: Pakyong airport in Sikkim
due to GeM (Government • Presumptive profit rate reduced • Domestic Passenger traffic
e-Market place) from 8% to 6% to promote a less doubled in last 5 years
cash economy
Income Tax • Tax rate for about 99% companies Roads
• Tax collections nearly doubled reduced to 25% • India is the fastest highway
in five years- from Rs. 6.38 Lakh developer in the world
crore in 2013-14 to almost Rs. 12 GST • 27 kms of highways built each
lakh crore this year • GST made India a common day
• 80% growth in tax base- from market • Stuck projects completed -
3.79 crore to 6.85 crore in five • GST led to increased tax base, Eastern Peripheral Highway
years higher collections and ease of around Delhi
• Tax administration streamlined- trade • Bogibeel rail-cum-road bridge in
Last year, 99.54% of the income- • Inter-state movements now Assam and Arunachal Pradesh
tax returns accepted as were faster, more efficient, and hassle
filed free Waterways
• Technology intensive project • Responsive and sensitive • Flagship programme of
approved to improve assessee reduction of tax rates - Most Sagarmala along the coastal
friendliness –In two years, returns items of daily use now in the 0% areas
to be processed in 24 hours and or 5% tax slab • For first time, container freight
refunds issued simultaneously • Relieving the businesses and movement started on Kolkata to
• Earlier benefits given to middle service providers- Varanasi inland waterways
class- • Exemptions from GST for small
• Basic exemption limit increased businesses doubled from Rs. 20
from Rs. 2 lakh to Rs. 2.5 lakh lakh to Rs. 40 lakh Railways
• Tax rate reduced from 10% to 5% • Small businesses having turnover • ‘Safest year’ for railways in its
for the tax slab of Rs. 2.5 lakh to up to Rs. 1.5 crore pay only 1% history
Rs. 5 lakh flat rate and file one annual return • All Unmanned Level Crossings on
• Standard deduction of Rs. 40,000 only broad gauge network eliminated.
introduced for the salaried class • Small service providers with • Semi high-speed "Vande Bharat
• Deduction of savings under turnover upto Rs.50 lakhs can Express" introduced - first
section 80C increased from Rs. opt for composition scheme and indigenously developed and
1 lakh to Rs. 1.5 lakh pay GST at 6% instead of 18% manufactured
• Deduction of interest for self- • Soon, businesses comprising
occupied house property raised over 90% of GST payers to be Climate Change
from Rs. 1.5 lakh to Rs. 2 lakh allowed to file quarterly return • International Solar Alliance
• Special benefits and incentives • Encouraging GST revenue • To promote renewable energy
already given to small businesses trends - The average monthly • First treaty based international
and startups- tax collection in the current year inter-governmental organisation
• Overall compliance processes is Rs. 97,100 crore per month as headquartered in India
simplified. compared to Rs. 89,700 crore • Installed solar generation
capacity grown over ten times in • RERA and Benami Transaction • FM thanks 130 crore Indians for
last five years (Prohibition) Act have brought translating Swachh Bharat into a
• Now creating lakhs of new age transparency in real estate national revolution
jobs • The Fugitive Economic Offenders • India has achieved 98% rural
Act, 2018 to help confiscate sanitation coverage
India Revolution economic offenders • 5.45 lakh villages have been
• More than 3 lakh Common • Government conducted declared "Open Defecation Free”
Service Centres (CSCs) exist to transparent auction of natural
deliver services to the citizens resources such as coal & Defence
• India now leading the world in the spectrum • OROP under implementation in
consumption of mobile data full spirit with Rs 35,000 crore
• Monthly consumption of mobile Drive against Black money already disbursed
data increased by over 50 times • Undisclosed income of about • Military pay service hiked
in the last five years Rs 1,30,000 crore brought under
• Under Make in India, mobile and tax through initiatives like Black Other achievements
parts manufacturing companies money Law, Fugitive Criminal • Government put a stop to
increased from 2 to more offenders Act, Demonetisation questionable practices of hiding
than 268 providing huge job etc. high NPAs
opportunities • Benami assets worth Rs 6,900 • Swachh Bharat Mission as
crore have been attached the world’s largest behavioral
Jan Dhan-Aadhaar-Mobile • 18% growth in Direct tax change movement
(JAM) and Direct Benefit
Transfer Banking Reforms and Key message in the Interim
• In the last five years, nearly 34 Insolvency and Bankruptcy Budget 2019-20
crore Jan Dhan bank accounts Code (IBC) • Moving towards realizing a ‘New
opened • The IBC has institutionalized a India’ by 2022 -
• Aadhaar now near universally resolution-friendly mechanism • Clean and healthy India with
implemented • Government has stopped the universal access to toilets, water
• Ensure the poor and middle culture of “phone banking”: FM and electricity to all
class receive the benefits of • Government adopted 4Rs • An India where Farmers’ income
Government schemes directly approach of recognition, would have doubled
in their bank accounts by resolution, re-capitalization & • Ample opportunities to youth and
eliminating middlemen reforms women to fulfil their dreams
• Government has implemented • An India free from terrorism,
Customs and trading measures to ensure ‘Clean communalism, casteism,
across borders Banking’ corruption and nepotism
• Customs duties on 36 capital • Government has already
goods abolished recovered Rs. 3 lakh crore in Vision for the next Decade
• Digitization of import and export favor of banks and creditors • Foundation for India’s growth
transactions • Government has invested Rs. 2.6 and development laid in the past
• RFID technology to improve lakh crore for recapitalization of 5 years
logistics public sector banks • Poised to become a Five Trillion
Dollar Economy in the next five
Steps against corruption Cleanliness years
• Government walked the talk on • Government launched Swachh • Aspire to become a Ten Trillion
corruption and ushered in a new Bharat Mission as a tribute to 150 Dollar Economy in the next 8
era of transparency: FM years of Gandhi Ji years thereafter.
A
CCORDING to an anecdote about a very none of his writings has any bitterness in it. He was
great leader of our country, when an old man full of love and sweetness. He was not angry even
went to see him the leader bowed to him very with those who did harm or damage. He was like
respectfully. On being asked why he did so, he said Yudhishthir, who used to call Duryodhana ‘Suyodhana’
the old gentleman had been his teacher in the primary because he did not wish to pronounce ‘Dur’, which
school. He added, “Because of the education that he means bad.
gave me and because of his blessings I have become
what I am today”. The teacher of course knew that his Comprehensive Outlook
capacity was only that of a primary school teacher, and The democracy that we have inherited from the British
he did not have the learning to impart to the leader has now-a-days been called finally the best system
the deep knowledge that the latter had later acquired. of government. But Deendayalji’s pith in democracy
I would say that my relationship with was a discerning one. When he
Pandit Deendayalji was more or less wrote on democracy he not only
the same as that of this primary school discussed its qualities and the way
teacher. franchise should be exercised and
A speciality of our Deendayalji of course wrote in favour of his party,
was that whenever he spoke or wrote but at the same time stated basic
about something he discussed even principles which were applicable to
a topical subject from a permanent, all people and all parties for all time.
ideological level. It was not in his Such comprehensive thinking was
nature to stop with discussing only necessary for successful democracy,
the contemporary aspects of any and Deendayal showed his capacity
problem. I knew him as a student of for it. The thoughts he expressed on
basic thoughts. Even when writing politics and economics in his writings
or speaking about a topical problem are deep and are such as would
he never forgot that there was some provide food for thought to those who
enduring principle behind it. read them. A student of Deendayal’s
His writings as the leader of writings can achieve the capacity
an opposition party had a certain to think for himself and to make his
gentleness. Even when he criticised own contribution to the democratic
a party or an individual, he never had a feeling of structure of the country as a whole.
disrespect or distance about the subject of his As a Swayamsevak of the Sangh I saw him grow
criticism. Rather, he had an attitude of affection. For from a boy. It was at the request of the late. Shyama
if a party or a person was going the wrong way, not Prasad Mukherjee, who wanted workers for a political
only would that party or person suffer, but ultimately party he wanted to found, that we gave him Deendayal.
the country itself would suffer, because that party or The growth of the Jana Sangh proved what a great
person was after all a part of our country. worker he was.
Pandit Deendayal was the leader of an opposition
party. He considered it his duty to express a clear Destined for Eminence
opinion about whatever he thought was improper or I knew Deendayal’s capacity, his qualities and
wrong in the country, and he always discharged it. But intellect. I experienced his great skill in the art of
Pt. Deendayal Upadhyaya, National President of Jana Sangh and other karyakartas in Nairobi
organisation as a Pracharak of the Sangh. I knew that democracy in the country. My grief is that this was not
because of his sweet tongue, affectionate behaviour done.
and wonderful mental and intellectual balance he
would attain extraordinary heights in the field he had More Gems will Follow
entered. He had already attained a high place in the But what has happened has happened. There is no
country and could and would have attained a higher time to weep. This is the time for work. And what if
one. He would have even achieved a place of high we have lost one gem? This our earth is the mother
eminence in the whole world, but before he could do of many such gems. Our society has produced
so he left us. We lost him so early perhaps because, it many extraordinary personalities one after the other.
is said, ‘those whom the gods love die young... Deendayal was not the last one. Rather, he was an
The way Deendayal left us was tragic. But the fact assurance that great men like him would be born
that the facts of the event could not be found out is again. So let us keep the hope and confidence in
still more tragic and shameful. Rather, in my opinion, our heart that our dedication to our ideal and our
the investigation that was done was meant to cover endeavours would enable this society to produce
up what actually happened. I think this was most such eminent workers and thinkers again. We shall
unfortunate. For if this happened with one party, can again have such symbols of sacrifice among us, and
one say it won’t happen with another? Therefore, our first duty is to strive for their rise.
such a situation has to be guarded against in the
first place. It is necessary to create an atmosphere in (Based on the speech in Bombay on May 17, 1968 while
presiding over release of Deendayalji, book “Political Diary’)
which no individual or group of individuals would dare
(Courtesy: ‘Destination’ published by Deendayal Research
to raise a hand against any party or person promoting Institute on 18 January, 1978 )
G
overnment of India on January 25 selected
great social activist and Jana Sangh leader Shri The BJP national President Shri Amit Shah said
Nanaji Deshmukh (posthumously), Singer Dr in his tweet “I congratulate Shri @CitiznMukherjee
Bhupen Hazarika (posthumously) and former President ji on being conferred the Bharat Ratna. He is a
of India Shri Pranab Mukherjee for Bharat Ratna,the statesman whose long years in public life as a law
country’s highest civilian award. maker and dedication towards serving the nation is
The Prime Minister Shri Narendra Modi congratulated an inspiration. Few people have dominated India’s
Bharat Ratna Awardees. Shri Narendra Modi praised public discourse for as long as he has.
Nanaji Deshmukh for his contribution to the society He added “Bharat Ratna is a befitting tribute to
and said “Nanaji Deshmukh’s stellar contribution Nanaji Deshmukh ji. Nanaji dedicated his entire life
towards rural development showed the way for a new to serving the poorest among the poor. He was a
paradigm of empowering those living in our villages. firm believer in the philosophy of integral humanism,
He personifies humility, compassion and service to the did remarkable work for Gramin Vikas & established
downtrodden. He is a Bharat Ratna in the truest sense.” the Deendayal Research Institute.
“The songs and music of Bhupen Hazarika are He said “This recognition for Bhupen ji is a
admired by people across generations. From them matter of great pride for the people of Assam
radiates the message of Justice, harmony and & North East as much as it is for the whole of
brotherhood. He popularized India’s music traditions India, which continues to be mesmerised by the
globally. Happy that the Bharat Ratna has been earthiness of his music. Grateful to Prime Minister
conferred on Bhupen Da.” the Prime Minister said. Modi for recommending the Bharat Ratna for him.”
While speaking on Shri Pranab Mukherjee he said, He added “Bhupen Hazarika ji, popularly known
“Pranab an outstanding statesman of our times. He has as Sudhakantha has made significant contribution
served the nation selflessly and tirelessly for decades, to Indian music and film industry. His music was full
leaving a strong imprint on the nation’s growth trajectory. of empathy and his art held out a strong message
His wisdom and intellect have few parallels. Delighted for humanity and universal brotherhood.”
that he has been conferred Bharat Ratna.”
T
he Interim Budget and administrative steps have and Indirect Taxes, the lowering of
presented by Shri Piyush been to create a Government both Direct and Indirect Taxes and
Goyal today marks a high which is decisive, compassionate the expansion of the tax base. The
point in the policy directions that and clean. The economic reforms Government has undertaken a major
the Government headed by Prime undertaken have unshackled Indian investment through capitalization to
Minister Shri Narendra Modi has economy, unleashed its potential revive the banking system which
given to this nation. Interim Budgets and made us a global leader in was stressed on account of past
which are presented in the Election growth. India is the fastest growing legacy issues. The Insolvency and
Year seek a Vote on Account for a major economy in the world and Bankruptcy Code being enacted,
limited period till the post-election is becoming a nation where it is major credit schemes like the
Government can decide the further easier to do business. The Prime MUDRA loans, low-cost insurances
direction of the economy. However, Minister’s leadership has provided and pensions and a major thrust
past precedents have conclusively India with a decisive Government towards funding the MSMEs,
shown that urgent steps are which is capable of even taking have all been key Banking Sector
required in the larger interests of the difficult decisions. Reforms. The Demonetisation
economy and they can be taken. was a major assault on a high-
We have the immediate precedents Reforms cash economy which generated
of the year 2009 and 2014 where Reforms have been undertaken black money, tax evasion and
significant taxation changes with the idea of enhancing growth even corruption. Demonetisation
were brought about in the Interim and the benefits of high growth proved to be a major step towards
Budgets. have gone predominantly to the formalization of the economy
Interim Budgets are also an poor, the rural and the farm sector significantly enhancing India’s tax
opportunity for the Government and infrastructure creation. Major collection and a movement towards
of the day to introspect their reliefs have been provided to the digitalisation of the economy.
performance of the last five years the taxpaying segments of the The long pending reform was
and place its facts before the population. The anti-corruption enacted in terms of the Monetary
people. The Government also and pro-transparency thrust of the Policy Committee of the RBI. The
outlines its vision for the future of the Government involved elimination Unique Identity Number provided
Indian economy. This is precisely of routine permissions and by AADHAAR is a significant reform
what Shri Piyush Goyal’s Budget approvals, ending of discretions in which is peculiar only to India. This
Speech has done. determination of contracts, licenses covers 99% of India’s population.
Let me try to expand and and natural resources. They would Social sector reforms such as
illustrate the performance of the be allowed only through a market financial inclusion, connecting
past five years and the further mechanism. An enhanced payment every family to banking, every
home to electricity, every kitchen to of US$ 425 billion. It is, therefore, housing loans, the deduction limit
cooking gas, every home to a toilet obvious that India is being hailed as was expanded from Rs. 1.5 to Rs.
have been witnessed in the past a bright spot in the global economy. 2 lakhs. The section 80C deduction
five years. limit was expanded from Rs. 1 lakh
India has become the largest The Indian Middle Class to Rs. 1.5 lakh. The Government
recipient of FDI thanks to a liberalized Shri Piyush Goyal has today made a believes that salary-paid employees
policy. Our infrastructure sector in significant announcement wherein whether in the Government or in the
highways, ports, airports and civil income earners earning upto private sector are an honest set
aviation, power, smart cities, Metro Rs. 5 lakhs have been exempted of tax assesses. Their entire tax is
systems, improved urban facilities from payment of Income-tax. deducted at source. Last year the
has made a significant contribution. This effectively strengthens the Government restored the benefit
The Government personnel, both great Indian Middle Class whose of Standard Deduction to them at
Government employees and as expansion of purchasing power Rs.40,000/-. This year this benefit is
those of the armed forces and para- holds the key for India’s future. being extended to Rs.50,000/-. For
military forces have benefited by the The immediate implementation Senior Citizens, the limit for benefits
enhanced benefits being given to of the 7th Central Pay Commission, accruing on account of health
them through the implementation the resolution of the long-pending care, tax payment and insurance
of the 7th Central Pay Commission, OROP, improvement of the New is higher. Thus if all these benefits
OROP and by the improvements Pension Scheme, grant of crores of given to India’s Neo-Middle Class
made in the New Pension Scheme. loans under the MUDRA Scheme and Middle Class are added, a
to aspirational entrepreneurs, person earning about Rs. 8 lakhs a
Macro-economic data provision for housing subsidies for year can get away by paying almost
India’s macro-economic stability Middle Income Group, downward no tax.
has unquestionably witnessed reduction of both direct and indirect As the tax base increases, which
2014-19 as perhaps the best- taxes, containing the double digit it has, the Government’s abilities in
performing period in Indian history. inflation left by the UPA to what is future years to move in this direction
The GDP growth during this five now a little over 2% itself brings will further increase.
year period will be about 7.5%. relief to the middle class. The GST was enforced 19
The inflation will be in the range of However, in each of the Budget’s months ago. It has already brought
4%. The average fiscal deficit in of Prime Minister Narendra Modi’s down most taxes on goods from
the past five years has fallen from Government, there has been 31% tax to the 18%, 12% and the
UPA 2’s figure of 5.3% to 3.7%. We significant relief to India’s middle 5% bracket. Never in the history of
will close a five year period by a class. The tax exemption limit was India during the five year tenure of
figure of 3.4%. We would ordinarily first raised from Rs. 2 lakhs to Rs. a Government, we have witnessed
have maintained a target of 3.3% 2.5 lakhs. Thereafter, without altering tax reduction and a Middle Class
but have a major announcement the slabs, people earning upto Rs. 3 relief of this magnitude. Lower
involving extra expenditure being lakhs were exempted from payment taxes, higher base and larger
made in the current Budget. The of taxes. In a further calibrated collections are the high point of the
Current Account deficit from the move, those in the income bracket past five years. This has been made
UPA 2’s five year figure of 3.3% with of Rs.3 to 5 lakhs witnessed their possible because an anti-corruption
a high of 5.6% has fallen during tax liability being halved from 10% regime made non-compliance more
this period to an average of 1.5%. to 5% and today this category has difficult.
Similarly, external debt to GDP been completely exempted. To Inflation being contained from
has fallen from 23.9% to 20.5% till this, if the other tax reliefs under a Double-digit inflation during the
March, 2018. Foreign exchange the Income-tax Act are added, the UPA Government to be within the
reserves are comfortable at US$396 number of beneficiaries will further mandated range of 4% itself has
billion and touched an all-time high rise. For payment of interest on led to the reduction of interest rates
which also has provided relief to yourself, if the step you contemplate would make an equal contribution.
those seeking credit for building is going to be of any use to him. Will Effectively, it is one more step in the
houses and other economic he gain anything by it?”. direction of making India a greater
activities. The Government valued the pensioned society to ensure social
A recent global study has shown above dictum and worked in that security.
that India’s Middle Class from 18% direction from day one. India’s The political act of the Government
in 2005 expanded to 29% in 2015 Financial Inclusion program the to provide a 10% reservation for
and will reach 44% in 2025. We want Pradhan Mantri Jan Dhan Yojana the economically weaker sections
this direction to not only continue has been globally recognized. The of the non-reserved category
but to be further expedited putting Unique Identification ensured that in educational institutions and
more money in the pockets of the pilferages, leakages and misuse of jobs. The Government healthcare
Middle Class will ensure this. Government support programmes programme Aayushman Bharat has
does not take place. The money been globally recognized. 40% of
Infrastructure spent from this was also directed India’s population encompassing
Infrastructure does not recognise at the poor. The Pradhan Mantri the weakest is now entitled to
caste, creed or religion. It is a Suraksha Bima Yojana, Pradhan hospital treatment free upto Rs.
facility that the State provides to all. Mantri Jeewan Bima Yojana, 5 lakhs a year at State cost. The
We are today the fastest highway Pradhan Mantri Mudra Yojana were Government’s concern for naming
developer in the world. Our port all an extension of this inclusion 115 under-developed Districts
sector both in the government and programme. The urban and rural as the aspirational Districts has
the private sector is expanding its AAWAS Yojanas have ensured that been guided by the Antyodaya
capacity and making large profits. by 2022 there should not be a single philosophy.
On the Civil Aviation front, we are roofless family in India. The right to Conventionally, the poor of this
amongst the fastest growing Civil food has been ensured by making country were bluffed by attractive
Aviation economies of the world the largest ever allocation for cheap slogans which had short-term
with already 100 functional airports. ration to a large section of India’s impact and no lasting value. As
Our national Inland Waterways population. Almost doubling the observed by Nobel Laureate Gary
have been put to effective use. actual expenditure on MNREGA has Becker that poverty perpetuates not
The Indian Railways are not only ensured that the rural unemployed because poor are no less capable
expanding each day but improving can get a livelihood source. To make than the rich but because the poor
upon quality of their services and the right of life respectable in a short can be habituated for making
performance. Our power sector has span, the government ensured myopic choices because of the
expanded its capacity to ensure that that the overwhelming number of daily constraints that force them to
every household has an electricity rural houses get sanitation. The always focus on survival.
connection. Our current emphasis BPL families are switching over India’s poor only got the benefit
on non-conventional energy is to the cooking gas. Every willing of slogans in the past. Today they
producing results. Each of the last household has been connected have seen resources being actually
five year’s Budgets has expanded with electricity. transferred to them. They are today
the expenditure on infrastructure. The last five years have seen all candidates who are aspiring to
The Interim Budget maintains the liberalization of the criterion and enter the neo-Middle Class.
same direction. eligibility of Bonus, Gratuity and
several other benefits by India’s Agriculture
The poor working class. In the same direction Last year in the Budget, the
The Government has been guided by is the major scheme ensuring a Government had announced
Gandhi ji’s Talisman, “Recall the face pension of Rs. 3,000/- to each that the recommendations of
of the poorest and the weakest man unorganized sector worker. The the Swaminathan Commission
whom you may have seen, and ask employee and the Government would be implemented and every
farmer would be entitled to get middle of the next decade we will on an average will be between 11.5
50% more than his input cost. achieve this and thereafter, target to 12%. Is it possible to conceive
Prof. Swaminathan himself has doubling that size of the economy. that such high nominal growth
appreciated the Government With the present growth rates, we despite controlled inflation will not
decision. The others had only are on track to achieve this. This lead to any job creation. Several
promised it, the Government involves a commitment to make datas including the EPFO data have
delivered it. However, in view of the sure that we work for every Indian given a detailed indication of the job
inadequacy of the procurement and not just for the unduly privileged creation. If there is no job creation,
system in certain States, many dynasties. We envisage an India as alleged, there should have
farmers did not get the full benefit where poverty is eliminated, the logically been a great social unrest
and had to sell their produce at Eastern regions of India grow at par in the country. Past five years have
softer prices. The Government has with other parts of the country, rural passed off without a single major
made massive efforts to improve the India having urban-like facilities, protest movement.
quality of rural life. It has enhanced and that female employment in India There were no globally
agricultural credit, ensured a crop in the formal sector expeditiously established models on the
insurance scheme, enhanced increases. Challenges of the future immediate impact of demonetization
investments in irrigation and still the are going to be met by special on the GDP growth. The former Prime
requirements of the economy are emphasis on food processing, Minister’s statement that it will lead
that the Indian farmer who gives us green energy, health care, world- to a 2% drop in the GDP captured
the surplus produce deserves a lot class educational institutions, the imagination of the Government’s
more. The farmer’s welfare cannot multiplying tourism potential, global critics. Neither the original data for
wait. In another step in this direction, quality infrastructure, making India 2016-17 and 2017-18 nor the first
the Budget has announced today a a hub of electronic manufacturing, revision proved that. When India
significant income support scheme textile and apparel with a special had a large parallel economy we
for every small and marginal land focus on organic farming and non- were all told that our growth figures
owning family involved in agriculture. conventional energy. More modern do not correctly capture the GDP
They will each be entitled to a sum cities and urban renewal will be the growth because a lot of activity
of Rs. 6,000/- anually. This will be a focus. takes place outside the formal
major step to put more money in the We are growing at a rate faster economy. When demonetization led
pockets of our food producers. This than other comparable economies. to depositing the entire cash into
necessarily expand the Government We are proud of our performance. the banking system and led many
expenditure in the FY 2018-19 as Yet we are impatient. We wish to future transactions to be more
also in the future years. This has had grow faster than even our present recordable, logically the GDP had
marginal impact on our projections status of the world’s fastest growing to grow post-demonetisation. The
of the fiscal deficit but we are economy so that we can cover up for impact of demonetization could
confident of being on the glide path the missed historical opportunities. only be transient as the Government
as per the recommendations of the always maintained. The present
FRBM Committee. Improving the lot Finally a Response data conclusively establishes this.
of the Indian farmer and adding to Two comments have recently been This is further fortified by the high
his purchasing power in the long made by various individuals. The tax collections both in the direct
run will help the economy much first relating to job creation in the and indirect taxes during 2016-
more than the expenditure being economy and the second on the 17 and 2017-18, Tax payments do
undertaken. impact of demonetization on the GDP. not rise when the economy is not
The last five years have seen adequately expanding. Growth
The future vision an average of about 7.5% real figures are based on estimates, tax
The future vision is to make India a GDP growth. If the inflation figure is collections are real.
Five Trillion Dollar economy. By the added to this, the nominal growth, (The writer is Union Minister, GoI)
T
he budget presented by of his confidence of getting a deceleration due to demonetisation
Finance Minister Piyush renewed mandate from the people has been overcome if the budget
Goyal is a rain of goodies of India than a vote on account for is an indicator.
for all sections of people. From the remaining four months when a The biggest achievement
the Rs 6000 per annum dole to 12 full budget of the new government of the Modi government is that
cr. farmers whose land holding is id presented in May by the new after a disastrous five years of Dr
upto 2 hectors of land, to doubling government after the Lok Sabha Manmohan Singh between 2009
bonus ESI scheme benefit and polls. This has many new features. and 2014 the confidence in the
minimum wages to laborers, But essentially a reiteration of the Indian economy has been restored
extension of credit card with economic growth model Modi to emerge as the fastest growing
interest concession of 2.5 percent followed since 2014. The budget economy in the world at 7.2 per cent
to horticulture, fishing and cattle has given huge relief to farmers, annual growth. This has shattered
breading along with farmers, Modi middle income groups and with the claims of Modi baiters including
has tried to touch every section
with bonanza.
Health care is to help 50 crore
people and it has already benefited
ten lakh families. The Ujjawala
which has already reached 6 crore
families, is now being extended to
8 crore families.
Special care is taken to
propitiate women and youth
through a number of schemes.
Self employment is given a big
boost. India is the second largest
start up hub.
The biggest booster came in
the form of 6.5 lakh tax exemption
limit which is too cover upto 3
cr. Tax payers. Add to this the
exemption on interest gains from
fixed deposits, capital gains and
doubling of rental income tax limit
16-28 FEBRUARY, 2019 I KAMAL SANDESH I 31
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PM Shri Narendra Modi paying homage at the Samadhi of Mahatma Gandhi, on the occasion of Martyrs’ Day
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