US to slap new sanctions on Russia over nerve agent attack in Britain

When it comes to the economy, dark days do loom large over India. May it be growth (lowest since 2008), inflation (highest in the last six years), or revenue collection (lowest in 10 years), the Indian economy is faltering. Hence, there is little leeway that can be assumed in the incumbent Union Budget 2020 (the first of the decade) if the economy needs to be boosted.

While presenting the decade's first Budget for India, finance minister Nirmala Sitharaman said on Saturday in Parliament:

Taxation

•             AADHAR based tax verification introduced

•             Review of customs duty exemptions in September 2020

•             GST refund process simplified

•             Electronic invoice implementation in phases

•             New digital scheme for tax litigation

•             PAN to be instantly allotted online against Aadhar

•             Vivaad se Vishwas Scheme: Defaulter to pay only disputed tax and no penalty or interest by 31 March 2020, post which additional amount can be paid till June 2020

•             Measure to promote affordable housing - tax holiday extended for developers

•             Concession on real estate transactions

•             Turnover threshold for audit raised to Rs 5 crore from 1 crore

•             Company audit requirements eased

•             Taxes on ESOPs (employee stock ownership) in start-ups deferred by 5 years

•             100% per cent tax exemption

•             Corporate Tax at 15%

•             Dividend Distribution Tax removed, dividend taxed only for recipients

•             No tax for 0-5 lakh

•             30% above 15 lakh

•             25% for income between Rs 12.5-15 lakh

•             20% for income between Rs 10-12.5 lakh

•             15% for income between Rs 7.5-10 lakh

•             10% for income between Rs 5-7.5 lakh, against the prevailing 20%

•             A new, optional simplified personal income tax regime for those not seeking exemptions

Major steps and initiatives taken by the government in finance

•             3.8 percent fiscal deficit estimated

•             GDP nominal growth expected at 10 per cent

•             Govt to sell part of holding LIC via IPO (initial public offering)- partial LIC disinvestment

•             Partial credit guarantee for NBFCs

•             New law for netting of financial contracts

•             Mechanism to end liquidity crisis

•             NRIs (non resident Indians) can invest in certain govt securities

Aspirational India: Caring society

•             App-based invoice financing loans for MSMEs

•             Amendment to Factoring Regulation Act to aid MSMEs

•             Pension Fund Regulatory and Development Authority (PFRDI) Act amendments

•             No criminal liabilities for civil acts

•             Auto-enrolment in universal pension scheme

•             5958 cr allocated for Ladakh

•             30757 cr allocated for J&K

•             Insurance for depositors raised to 5 lakh from 1 lakh

•             Robust mechanisms in place to monitor all PSU banks

•             Depositors’ money safe

•             100 cr for hosting G20 in 2022

•             National Recruitment Agency to be set up

•             Tax payers’ charter to be enshrined in statutes

•             Amendments for Companies Act

•             Tax payer charter proposed to free citizens from tax harassment

•             Businesses should have confidence that system is fair

•             4400 crore allocation for clean air and climate change policy

•             Aim to reduce carbon footprint - Warning to old thermal plants

•             Committed to preserve environment, tackle climate change

•             23150 crore for culture ministry

•             2500 crore for tourism sector

•             Institute of Heritage and Conservation to come up soon

•             Aim to set up more museums

•             5 archaeological sites to be made iconic

•             Proposal to end manual scavenging

•             53700 crore for welfare of STs

•             85000 crore for SCs and OBCs for 2021

•             35600 crore for nutritional schemes

•             Gross enrollment ratio of girls higher than boys in elementary level

•             Beti Bachao, Beti Padhao - tremendous results

Aspirational India: Infrastructure and economic development

•             Further reforms for transparent price discovery for natural gas

•             22000 crore for power sector

•             8000 crore for quantum technology in next 6 years

•             Two national level science schemes

•             Expand Jan Aushadhi Scheme

•             1 lakh gram panchayats to be connected via Bharat Net

•             6000 crore for Bharat Net

•             Data Centre parks to be set up across the country

•             National Gas Grid to be expanded

•             Reforms to help stressed DISCOMS (distribution companies)

•             Delhi-Mumbai Expressway by 2023

•             100 more airports by 2024

•             Plans to energise economic activity along river banks

•             Need to enhance sea ports

•             High Speed Mumbai-Ahmedabad train

•             More Tejas-type trains

•             4 station redevelopment projects under PP model

•             2000 km of strategic highways to be built, 11000 km of track electrification

•             Accelerated development of highways

•             National Logistics Policy to be released soon

•             Big push on infrastructure - 100 lakh crore

•             National Technical Textiles Mission to be set up

•             1480 crore outlay for textile sector

•             27300 crore for industrial development by 2021

•             Digital refund of duties for exporters

•             Boost domestic manufacturing - electronic equipment, mobile phone, medical devices

•             5 new smart cities in collaboration with states

•             Investment clearance cell to be set up for end to end facilitation

•             Entrepreneurship has been the strength of India

Aspirational India: Education and skills

•             High need for medical teachers and paramedics

•             Internships for engineers in panchayats

•             Rs 99300 cr for education sector

•             Large hospitals to be encouraged to start PG courses

•             Attach medical colleges to district hospitals

•             National police university to be set up

•             IND-SAT programme for overseas students for studying in India

•             New courses in 159 universities by 2026

•             Focus on education for jobs

•             Propose a fresh education policy

•             Urban local bodies should give opportunities to new engineers

•             Education needs more finances

Aspirational India: Healthcare

•             AI (artificial intelligence) to be used for Ayushman Bharat Scheme

•             69000 crore for health sector

•             Propose to set up more hospitals

•             Holistic vision for national healthcare

Aspirational India: Agriculture, Irrigation and rural development

•             Need to liberalise farm markets

•             108 million metric tonne milk production by 2021

•             2.83 lakh cr allocation for agriculture and irrigation

•             Propose raising fish production to 200 lakh tonne

•             Zero budget national farming

•             NABARD refinance scheme to be expanded

•             Village credit card scheme

•             Agriculture credit target for 2020 set at Rs 15 lakh crore

•             Village storage scheme for farmers, zero budget natural farming

•             Dhanya Lakshmi scheme for women in villages

•             Krishi Udaan by civil aviation ministry for air transport of such commodities over longer distances

•             Indian railways to set up 'kisan rail'

•             Govt to provide help to geo-tag warehouses

•             Financial inclusion has helped raise farm incomes

•             Plan for 100 water stressed districts

•             Scheme for 20 lakh farmers to set up solar pumps

•             Doubling farm income - model agricultural land leasing act, balanced use of fertilisers, solar pumps for 20 lakh farmers

Budget 2020 and its three focuses

•             Budget's first focus is 'Aspirational India'. Second focus: economic development for all. Third focus: building a caring society.

•             FDI at 284 billion dollars, achieved 7.84% growth

•             GST formalised the economy

•             Efficiency gained in logistics

•             16 lakh new tax payers added

•             Fundamentals of economy hold strong

•             Scaled up implementation of pro-poor schemes

Key challenges FM faces

•             India needs to grow by 9 per cent to 10 per cent a year to become the $5 trillion economy by 2024, as projected by the government. The government is now forecasting growth will come in at 5 per cent

•             The IMF, which had originally predicted 6.1 per cent growth for India in 2019, has revised that downwards to 4.8 per cent

•             The government’s likely to miss its fiscal deficit target for the current fiscal year of 3.3 per cent and hike its target to as much as 4 per cent for the next financial year

•             India will struggle to achieve 5 per cent GDP growth in 2020 - Economist Steve Hanke, Johns Hopkins University

•             Investment is forecast to grow at less than 1 per cent -- the lowest since 2004-05

•             India's unemployment rate rose to 7.5 per cent during September-December 2019 quarter, according to data released by think-tank Centre for Monitoring Indian Economy

Washington, Jan 25: US President Donald Trump's legal team was preparing his defence on Saturday after the Democratic prosecutors ended their marathon 24-hour argument to oust him from office during the Senate trial.

In the arguments spread over three days ending on Friday, the Democrat prosecutors from the House of Representatives that had impeached Trump last month, mostly rehashed the testimonies from the hearings before their committees during the investigation and statements in their chamber.

Like the Democrats' arguments, the Trump defence's counter-arguments, also with 24 hours allotted for it, will be mind-numbing monologues for the most part and the real drama will be on a tussle between the two parties on calling witnesses.

The Democrats failed in their repeated attempts on the first day of the trial on January 28 to include calling testimonies from witnesses in the rules of procedure, but they will get another chance to press their case when the defence rests.

There is a tense wait speckled with speculations to see if the Democrats can get four Republicans to defect and vote to call witnesses after failing to sway a mass defection to get the two-thirds majority to convict Trump.

Trump is charged with abuse of power and obstruction of Congress in the trial presided over by Supreme Court Chief Justice John Roberts with the Senators acting as jurors.

As the time allotted for the prosecution wound down on Friday, the leading prosecutor, Adam Schiff, demanded that the Republican-controlled Senate convict and remove Trump from office, because he was an "imminent threat" to the US and the nation could not wait for the election to throw him out.

Schiff, who heads the House Intelligence Committee that investigated Trump, gave them a personal warning: "No matter how close you are to this president, do you think for a moment that if he felt it was in his interest, he wouldn't ask you to be investigated?

Jerry Nadler, the head of the Judicial Committee that framed the charges in the impeachment, called Trump a "dictator".

Instead of a full sitting of eight hours, the defence will present its case for only two to three hours on Saturday in what Trump's lawyer Jay Sekulow called a "trailer (for) coming attractions" in the defence counterarguments.

They will get to use their remaining time next week.

The shorter session starting with fuller presentations next week is partly a concession to media savvy Trump who tweeted that daytime Saturday when his defence was slated is a "death valley" on TV as few viewers would watch a political event at that time.

With Trump certain to be acquitted because the Democrats do not have the two-thirds vote, the impeachment process and the Senate trial are only meant to be an extended media show in their campaign for the November election.

The Democrats want to spiff up the TV spectacle by calling former National Security Adviser John Bolton and Trump's acting Chief of Staff Mick Mulvaney as witnesses.

Trump could exercise his executive privilege to stop them from testifying, in which case they could go to court to compel their appearance at the Senate trial extending its duration by months if not weeks.

The House charged him with obstruction of Congress because he refused to allow some of this staff to testify and release documents requested by the House investigators.

The Republicans, who want a quick end to the trial, can also counter the Democrats' request for witnesses by calling former Vice President Joe Biden and his son, Hunter, to testify in order to embarrass them and their party.

The Bidens are at the root of the abuse of power charges against Trump.

Trump had asked newly-elected Ukrainian President Volodymyr Zelentsky in a July phone call to investigate the Bidens' dealings in his country as a "favour".

Democrats say that this was inviting foreign intervention in US elections because Joe Biden is the leading Democratic party candidate for the nomination to oppose him.

Moreover, they say that he froze about $400 million in Congressionally-approved military aid for pressure Zelentsky to order the probe and this endangered US national security as Ukraine is at war with Russia.

chiff and the other prosecutors said delaying the aid was an attempt at a quid pro quo.

Zelentsky has said that he did not feel pressured by Trump.

Hunter Biden, who was removed from the Navy allegedly due to drug use and had no energy business experience landed a directorship in a Ukrainian gas company with monthly payments reportedly between $50,000 and $83,000 while his father was overseeing Washington's dealings with Kiev.

The former Vice President has publicly admitted that he got the Ukrainian leaders to fire the prosecutor investigating his son's company.

The Republicans have said that the son's appointment was unethical and the father had the prosecutor removed to protect his son's company.

In their arguments, the Democratic prosecutors said there was nothing wrong in Hunter Biden getting the job and his father had the prosecutor dismissed because he was corrupt.

The defence team is expected to assert that Trump withheld the aid because he wanted to be sure that the new government was not corrupt and the aid was released without a probe.

Anticipating the argument, Schiff said that Trump had allowed the aid to go forward only because it became known and his intent still made him guilty.

In another development impinging on the Trump case, a secret recording said to be of the president ordering the firing of Marie Yovanovitch as US ambassador to Ukraine in 2018 has surfaced.

She was one of the witnesses at the House investigations of the charges against Trump.

The Hague, Jun 22: Finding inner peace is crucial for the armed forces and yoga is a beautiful way to find the balance, Dutch Defence Minister Ank Bijleveld has said, thanking India for the "wonderful gift" to the world.

Yoga has been gaining global popularity in recent years for the many benefits it has on one's physiology, psychology and spirituality.

Bijleveld participated in the online International Yoga Day celebrations organised by the Indian Embassy here on Sunday.

"The minister thanked India for the wonderful gift of yoga to the world," a statement issued by the embassy said on Monday.

She said finding inner peace is crucial for a man and woman in uniform and yoga is a beautiful way to find the balance, it noted.

Bijleveld said yoga has formed a part of the training for the Dutch armed forces for the last 15 years and there are 130 yoga instructors.

The representatives of the Dutch Army joined by the Dutch Police personnel demonstrated their yoga skills as part of the online celebrations, the statement said.

The sixth International Yoga Day celebrations was streamed to 145,000 followers of the embassy's Facebook, Twitter, Instagram and YouTube channels as well as on its website. It was also streamed on the website of the non-profit foundation Stichting International Yoga Day.

Ambassador of India to The Netherlands Venu Rajamony inaugurated the celebrations. This was followed by Prime Minister Narendra Modi's video message and 3D animated videos of yoga with him.

The event was participated by a host of prominent Dutch and Indian personalities, including Ambassadors of various countries based in The Hague.

Dutch actress Afke Reijenga, extreme sportsman Wim Hof -- popularly known as 'The Iceman' and singers Charlie Dee and Anouk Maas were amongst the Dutch celebrities who participated in the event, the statement said.

Messages and artistic contributions by spiritual leader Sri Sri Ravi Shankar, internationally acclaimed flautist Pandit Hariprasad Chaurasia, violin maestro L Subramaniam, playback singers Kavita Krishnamurthy and Vijay Prakash, chess grandmaster Viswanathan Anand and film stars Raadhika, Sarathkumar and Bhumika Chawla featured in the programme.

Cricketer Suresh Raina, tennis stars Ramesh Krishnan and Rohan Bopanna, yoga guru and artist Bharat Thakur, Olympic ice skater Vishwaraj Jadeja and Michelin star chef Vikas Khanna also featured in the event.

The programme included a Kathak recital on 'Ayush' choreographed by Dutch choreographer Leo Spreksel and performed by eminent Kathak dancers Hari and Chetna with Sirisha.

It also showcased Hollywood and Bollywood celebrities who have made yoga a part of their lives.