FM sticks to fiscal roadmap, FY17 deficit at 3.5%

February 29, 2016

New Delhi, Feb 29: Amid debate over balancing growth and financial management, Finance Minister Arun Jaitley today adhered to the fiscal consolidation roadmap by proposing to keep the deficit at 3.5 per cent of GDP in 2016-17.

aj copyHe also assured that development agenda will not be compromised and a committee would be set up to review the working of Fiscal Resposibility and Budget Management (FRBM).

The fiscal deficit in current fiscal has been estimated at 3.9 per cent, which will be brought down to 3.5 per cent in next fiscal.

"While doing this I have ensured that development agenda has not been compromised," Jaitley said in the next fiscal's Budget speech.

Total government expenditure in next fiscal would be Rs 19.78 lakh crore. Of this, Rs 5.50 lakh crore would go towards Plan expenditure and another Rs 14.28 lakh crore towards non-Plan expenditure.

The revenue Deficit for current fiscal has been bettered to 2.5 per cent of GDP, from the budgeted 2.8 per cent.

Jaitley further said that in view of the uncertainty and volatility in global markets, time has come to review the FRBM Act.

A committee to review the implementation of FRBM would be set up, he said, adding that the government will also work with the state governments towards doing away with the distinction between plan and non-plan expenditure.

Last year Jaitley had delayed the fiscal consolidation roadmap in order to build infrastructure by boosting public investment.

As per the deficit roadmap announced by Jaitley in last budget, fiscal deficit was to be brought down to 3.9 per cent in current fiscal and further to 3.5 per cent by 2016-17. The deficit was to be lowered to 3 per cent by 2017-18.

As per the earlier roadmap for fiscal consolidation, the deficit was to come down to 3 per cent by 2016-17.

The Economic Survey tabled in Parliament on Friday had said that "credibility and optimality" argued in favour of sticking to deficit target of 3.5 per cent of GDP for 2016-17, indicating some room for an upward revision.

"There are very good arguments for a strategy of aggressive fiscal consolidation...and equally good arguments for a strategy of moderate consolidation that can place the debt on a sustainable path while avoiding imparting a major negative demand shock to a still-fragile recovery," it had said.

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News Network
June 20,2020

Jun 20: Congress leader Rahul Gandhi on Saturday attacked Prime Minister Narendra Modi over his remark that neither is anyone inside India's territory nor has any of its posts been captured, alleging that the PM has "surrendered" Indian territory to Chinese aggression.

In a statement on the all-party meeting called by Modi on Friday to discuss the situation at the India-China border, the government said, "At the outset, prime minister clarified that neither is anyone inside our territory nor is any of our post captured."

Tagging PM's remarks with his tweet, Gandhi said, "PM has surrendered Indian territory to Chinese aggression."

"If the land was Chinese: 1. Why were our soldiers killed? 2. Where were they killed?" Gandhi said.

The categorical statement by the prime minister came in the wake of reports that Chinese military has transgressed into the Indian side of the Line of Actual Control, the de-facto border, in several areas of eastern Ladakh including Pangong Tso and Galwan Valley.

Soon after Gandhi's tweet, Union Home Minister Amit Shah posted video of father of a soldier, who was injured in Galwan face-off, and hit out at the Congress leader, accusing him of indulging in "petty politics".

"A brave armyman’s father speaks and he has a very clear message for Mr. Rahul Gandhi. At a time when the entire nation is united, Mr. Rahul Gandhi should also rise above petty politics and stand in solidarity with national interest," Shah wrote.

The prime minister's assertion came even as Congress president Sonia Gandhi, at the all-party meet, questioned the government's handling of the situation, asking if there was any intelligence failure, and seeking assurance that China will "revert" to its original position.

Rahul Gandhi on Friday accused senior ministers in the government of "lying" to protect the prime minister and that the Centre was "fast asleep" while martyred jawans paid the price in Ladakh.

The former Congress chief also tagged a one-minute video of a jawan's father saying the Indian soldiers were unarmed when they were attacked by Chinese troops.

He has been questioning the government on the LAC standoff and asking how the Chinese occupied Indian territory and why Indian soldiers were sent "unarmed to martyrdom" in Ladakh.

Twenty Indian Army personnel, including a colonel, were killed in a clash with Chinese troops in the Galwan Valley in eastern Ladakh on Monday night, the biggest military confrontation in over five decades that has significantly escalated the already volatile border standoff in the region.

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News Network
June 30,2020

New Delhi, Jun 30: Short video making app TikTok, one of the 59 apps banned by the Central government on Tuesday, has said that it complies with all data privacy and security requirements under the Indian law and has not shared any information of its users in India with any foreign government, including the Chinese Government.

Taking to microblogging site Twitter, Tiktok India posted the statement issued by Nikhil Gandhi, Head of TikTok, India.

"The Government of India has issued an interim order for the blocking of 59 apps, including TikTok and we are in the process of complying with it. We have been invited to meet with concerned government stakeholders for an opportunity to respond and submit clarifications. TikTok continues to comply with all data privacy and security requirements under Indian law and has not shared any information of our users in India with any foreign government, including the Chinese Government," reads the statement.

"Further, if we are requested to in the future we would not do so. We place the highest importance on user privacy and integrity. TikTok has democratized the internet by making it available in 14 Indian languages, with hundreds of millions of users, artists, story-tellers, educators and performers depending on it for their livelihood, many of whom are first-time internet users," the statement further reads.

Amid border tensions with China in Eastern Ladakh, the Centre had on Monday banned 59 mobile apps including Tik Tok, UC Browser and other Chinese apps "prejudicial to sovereignty and integrity and defence" of the country.

A senior official at the IT ministry said the prime reason to block the apps under section 69 A of Information Technology Act is to stop the violation and threat to the security of the state and public order and to plug the data leaks.

"Almost all of them have some preferential Chinese interest. Few are from countries like Singapore. However, the majority have parent companies which are Chinese," the official said.

This move will safeguard the interests of crores of Indian mobile and internet users. This decision is a targeted move to ensure safety and sovereignty of Indian cyberspace, Ministry of Information Technology said.

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Angry Indian
 - 
Tuesday, 30 Jun 2020

war is fought man to man face to face...how china killed how soldier,

and we indian banning there app...what a joke

now bakth will say 56 inch chest modi is hero...

 

in our counrty we have 100% fool leaders and 80% foolish citizen...we will never develop..

 

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Agencies
July 28,2020

New Delhi, Jul 28: India on Wednesday reported 47,704 more COVID-19 cases in the last 24 hours, taking the country's count of coronavirus cases to 14,83,157, informed the Union Ministry of Health and Family Welfare.

Out of the total cases, there are 4,96,988 active cases in the country while the number of patients cured/discharged and migrated stands at 9,52,744.

With 654 deaths due to COVID-19 in the country reported in the last 24 hours, the death toll rises to 33,425.

The recovery rate among COVID-19 patients has increased to 64.23 per cent. The recoveries to deaths ratio is 96.6 per cent:3.4 per cent, informed the Centre.

As per the data provided by the Ministry, Maharashtra continues to be the worst-affected state from the infection with 1,48,905 active cases and 13,656 deaths due to COVID-19. Tamil Nadu has a total of 53,703 active cases and 3,494 deaths.

Delhi has a total of 11,904 active cases and 3,827 deaths.

The Health Ministry further informed that more than 5 lakh COVID-19 tests were conducted in a single day over two consecutive days. On 26th July, India tested a total of 5,15,000 samples and on 27th July, a total of 5,28,000 samples were tested.

The total number of COVID-19 samples tested up to July 27 is 1,73,34,885 including 5,28,082 samples tested yesterday, said the Indian Council of Medical Research (ICMR).

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