Interim Budget 2014: Fiscal deficit to be contained at 4.6%

February 17, 2014

Interim_Budget_2014

New Delhi, Feb 17: The government on Monday said the fiscal deficit for the current financial year will be contained at 4.6 per cent of GDP.

“Let me begin with the good news. Fiscal deficit for 2013-14 will be contained at 4.6 per cent of GDP, well below the red line that I had drawn last year,” Finance Minister P. Chidambaram said in the interim budget presented in Parliament.

The fiscal deficit, which is the gap between expenditure and revenue, was 4.9 per cent of GDP in the previous financial year.

After talking over as Finance Minister in August 2012, Chidambaram had drawn up a financial consolidation road map to lower the fiscal deficit to 4.8 per cent of GDP in 2013-14, 4.2 per cent in 2014-15 and 3.6 per cent in 2015-16.

He said the government’s objectives included fiscal consolidation, reviving the growth cycle and enhancing manufacturing.

The Minister had on several occasions said he had drawn a red line for the fiscal deficit and it would not be breached.

As per current indications, the fiscal deficit has come down mainly on account of expenditure compression and higher realisation from the 2G spectrum auction.

The Finance Minister also said GDP growth has improved and will be 4.9 per cent for the current financial year.

Economic growth had slowed to a decade’s low of 4.5 per cent in 2012-13.

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Agencies
June 18,2020

New Delhi, Jun 18: Major General-level talks between India and China, held to resolve the issues related to the violent face-off in Ladakh's Galwan area on June 15-16, lasted for more than six hours on Thursday, sources said.

The talks between the Major Generals of the two countries had remained inconclusive on Wednesday.

Sources also said that all Indian Army personnel who were involved in Galwan valley violent face-off on June 15-16 are accounted for and no soldier is missing in action.

At least 20 Indian Army personnel, including a Colonel rank officer, had lost their lives in the violent face-off which happened in the Galwan valley as a result of an attempt by the Chinese troops to unilaterally change the status quo during the de-escalation in eastern Ladakh.

Indian intercepts have revealed that the Chinese side suffered 43 casualties including dead and seriously injured in the violent clash. The commanding officer of the Chinese unit is among those killed, sources confirmed to media persons.

India wants restoration of old status quo along the Line of Actual Control (LAC) prevailing before May 2020 when the first reports of Chinese incursions started appearing.

External Affairs Minister S Jaishankar had on Wednesday conveyed a clear and tough message to his Chinese counterpart Foreign Minister Wang Yi that what happened in Galwan was a "pre-mediated and planned action that was directly responsible for the resulting violence and casualties."

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News Network
February 1,2020

Feb 1: The Congress on Saturday expressed hope that the Union Budget would provide relief to the salaried class through tax cuts and invest in rural India besides providing a healing touch to the common man and industry facing “hardship” since demonetisation.

Congress chief spokesperson Randeep Surjewala said the last budget led to crashing consumption levels, soaring unemployment and falling GDP. “Budget 2019= Consumption crashed, Unemployment soared, Farm distress surged, Incomes declined, Investments slumped, Public spending fell, GDP nose dived!,” Surjewala tweeted. “Yet, Modiji gave Corporate Tax Cuts of Rs 1,45,000 crore. Let Budget 2020 give tax cuts to Salaried Class and invest in Rural India,” he said

Rajasthan Chief Minister Ashok Gehlot hoped the budget fulfils expectations of the common people. “Budget 2020 is the time for NDA government to provide a healing touch to common people and industries facing hardships since noteban. Hope the budget fulfils expectations of common people and provide relief across sections,” Gehlot said.

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News Network
January 17,2020

New Delhi, Jan 17: Deputy Chief Minister Manish Sisodia does not have any car on his name, according to information shared in the poll affidavit filed by him for Delhi elections.

In the affidavit, it is also shown that while his self-acquired immovable property remained roughly the same as in 2015. His wife's self-acquired immovable property is worth roughly about Rs 65 lakh, as per his latest affidavit.

In the papers submitted during the nomination for 2015 Delhi polls, the senior AAP leader had declared that he owned a Maruti Swift car of make 2013.

However, in his 2020 affidavit, he has mentioned "nil" in the column for motor vehicles and other means of transport.

In the affidavit submitted on Thursday, his moveable assets were declared worth Rs 4,74,888 for 2018-19, as against Rs 4,92,624 for 2013-14.

In 2015, Sisodia had informed in his affidavit that he had bought a property in Vasundhara, Ghaziabad, worth Rs 5.07 lakh in April 2001. The approximate current market value of self-acquired property in 2015 was Rs 12 lakh.

In his current affidavit, the AAP leader has mentioned the same property. However, the approximate current market value of self-acquired property in 2020 has increased to Rs 21 lakh.

In his affidavit for the 2015 polls, Sisodia had also said that his wife had purchased a property in March 2008 costing Rs 8.70 lakh. At that time, the approximate value of her self-acquired property was Rs 20 lakh.

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