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Thursday, July 10, 2014

Highlights of Union Budget 2014

Here are the highlights of Union Budget 2014 tabled by finance minister Arun Jaitley on Thursday:


* ​Indian Custom Single Window Project to be taken up for facilitating trade. 
* Clean energy cess increased from Rs 50/ tonne to Rs 100/tonne. 

Additional 5% excise tax to be levied on aerated drinks with added sugar (cold drinks). Tobacco products also to get costly as excise duty hiked to 72%

Government announces reduction in excise duty for specified food package industry from 10% to 6%.

*​ Excise duty on footwear reduced from 12% to 6%

* Basic custom duty on LED panel below 19 inch made nil.

Government announces measures to encourage manufacture of LCD/LED panels of TVs. 

Housing loan rebate to raised from Rs 1.5 lakh to Rs 2 lakh.

* Net effect of direct tax proposals is revenue loss of Rs 22,200 crore.

Government proposes to increase investment limit under Section 80C from Rs 1 lakh to Rs 1.5 lakh. 

Tax exemption limit for small and marginal, and senior tax payers changed from Rs 2.0 to Rs 2.5 lakh. For senior citizens, no tax for income up to Rs 3 lakh per annum. 

No changes in tax rate. 

PPF limit to be raised to Rs 1.5 lakh: Jaitley

* Rs 100 crore for training of sportspersons for upcoming Asian Games.

* Government announces Rs 150 crore for communication needs of Andaman and Nicobar islands.

* Government announces Arun Prabha channel for northeastern region; will be 24/7 channel.

Rs 1000 crore provided for rail connectivity in northeastern region.

* Programme for displaced Kashmiri migrants with Rs 500 crore to be started.

* Rs 100 crore set aside for project to link rivers.

* Government announces Rs 100 crore for development of Archaeological sites. Gaya to be developed as world class tourism spot.

* Rs 5000 crore set aside for defence outlay over and above amount provided under interim budget.

National Police Memorial to be set up. Rs 50 crore set aside for this purpose.

* Rs 100 crore set aside for development of Technology Development Fund.

Rs 100 crore War Memorial at Princess Park, India Gate. 

Policy of One Rank One Pension to be adopted for defence personnel.

* RBI will create framework for licenses of small banks.

* Government aims to provide all households with banking facilities to empower the weaker sections; there should be atleast 2 bank a/cs in each household.

* Urgent need to converge current Indian standard with international accounting standards: Jaitley

* Rs 37, 800 crore allotted for National Highways.

* Revision of rate of royalty on minerals to be taken up on request from the states.

In order to complete gas grid, 15000 km of additional pipeline to be developed through PPP mode.

* ​New and renewable energy deserves high priority; ultra modern power projects to be taken up in Rajasthan, Tamil Nadu, Ladakh with Rs 500 crore.

Rs 4200 crore set aside for Jal Marg Vikas project on river Ganga connecting Allahabad to Haldia , over 1620 km.

* Scheme for development of new airports at tier II and III cities through PPP mode.

* Rs 200 crore set aside for 6 more textile clusters in Rae Bareily, Lucknow, Surat, Bhagalpur. Rs 50 crore set aside for Pashmina Production program in J&K.

* MSMEs are the backbone of the economy; to be revived through a Committee to examine and report in three months.

* 6 more textile clusters to be set up.

* Industrial Smart Cities to come up at 7 cities.

* All govt departments and ministries to be integrated through E-platform by 31 December this year.

Rs 100 crore set aside for Kisan Television to provide real time information on various farming and agriculture issues. (Read story here)

* National Industrial Corridor to be set up. Rs 1000 crore set aside for this.

* Rs 5000 crore short time rural credit refinance fund for 2014-15.

* Rs 50 core set aside for indigenous cattle breed and blue revolution for inland fisheries.

* Propose to provide finance to 5 lakh landless farmers through NABARD.

* Govt will initiate scheme to provide a soil health card; Rs 100 crore set aside. Rs 56 crore for soil testing labs across the country.

* Agriculture University in Andhra Pradesh and Rajasthan, and Horticulture University in Haryana, Telangana; Rs. 200 cr set aside by the government.

* Slum development to be included in Corporate Social Responsibility activities.

Govt announces Rs 100 crore for modernization of madrassas.

* Govt announces development of Metro rails in PPP mode; Rs 100 crore set aside for metro scheme in Ahmedabad and Lucknow.

Rs 100 crore set aside for Community Radio Centres; 600 new and existing ones will be supported.

* National Rural Internet and Technology Mission; Rs 500 crore set aside.

* Govt proposes to set up Center of Excellence in MP named after Lok Nayak Jai Prakash Narayan.

5 more IITs and 5 IIMs to be set up .

* Propose to set up four more AIIMS; Rs. 500 crore set aside for this. Six new AIIMS started recently have become functional. Four new AIIMS will be set up in Andhra Pradesh, West Bengal, Vidarbha and Purvanchal. (Read story here)

* Govt proposes National Housing Banking programme; sets aside Rs 8000 crore for this program.


Union Budget 2014 through infographics


* Pradhan Mantri Gram Sadak Yojana has a massive impact on rural development; Govt sets aside Rs 14,389 crore for this scheme.

* Crisis Management Center for women at Delhi; money to be provided from Nirbhaya fund.

* Govt announces Beti Padhao, Beti Badhao Yojana; sets aside Rs 100 crore for this. (Read story here)

* Safety of women of prime importance.

* EPFO will launch a unified account scheme for portability of Provident Fund accounts.

* Schemes for disabled persons in the country. 15 new Brail presses to be established and revival of 10 existing.

* Rs 50,548 crore proposed for Schedule Caste development.

​* Govt committed to providing 24/7 power supply to all homes. Deen Dayal Upadhyay Gram Jyoti Yojna for electricity supply to rural areas.

* Rs 200 crore for 'Statue of Unity' of Sardar Vallabh Patel.






Pradhan Mantri Krishi Sichayin Yojana to be started for irrigation.

* We will examine proposal to give additional autonomy to banks and make them more responsible: Jaitley

E-visas to be introduced at nine airports in India in phased manner. (Read storyhere)

FDI in insurance to be increased to 49%

* FM announces FDI in defence up from 26 to 49 % with Indian management and control


* Transfer pricing is major area for litigation; proposes changes in transfer pricing regulation: Jaitley

* I propose to strengthen authority for advance ruling in tax: Jaitley

* Aim to achieve 7-8 per cent economic growth rate in next 3-4 years.

* We wish to provide an investment friendly taxation system: Jaitley

* This govt will not ordinarily change policies retrospectively which creates a fresh liability.

* GST will streamline tax administration and result in higher tax collection for center and states. (Read story here.)

* A new urea policy would be formulated.

* Considering that we had two years of low GDP growth, a large subsidy burden, target of 4.1% fiscal burden is daunting: Jaitley

* We must address the problem of black money: Jaitley

* Iraq crisis leading behind an impact. Inflation has remained at elevated level: Jaitley

* We have taken up the challenge in the right ernest; will create a vibrant and strong India: Jaitley.





* The task before me is very challenging. We need to introduce fiscal prudence. there is an urgent need for more reforms.

* The steps I will announce are only the beginning of the journey we wish to take for macro economic stabilization: Jaitley

*People below poverty line anxious to free themselves: Jaitley

* Green shoots of recovery seen in world economy.

*​ We look forward to lower inflation: Jaitley

Source: TOI

Wednesday, July 9, 2014

JD(U), RJD, Congress demanded Giriraj Singh’s arrest and termination of Parliament membership

JD(U), RJD and Congress Legislators on Wednesday created ruckus in both Houses of Bihar Legislature over recovery of Rs 1.14 crore, 600 US dollars and ornaments stolen from the house of BJP MP Giriraj Singh and demanded his arrest and termination of Parliament membership alleging it as "black money".

As the Assembly sat for the day, JD(U), RJD and Congress MLAs trooped into well and demanded stringent action against Giriraj Singh.

With BJP members also in the well to protest police firing in Rohtas district on Tuesday in which two persons were killed, Speaker Udai Narayan Choudhary adjourned the House till 2 pm when members refused to obey him and return to their seat.

Chief Minister Jitan Ram Manjhi was in the House when pandemonium erupted. Later, the CM told reporters in his chamber that the state government has taken cognisance of recovery of huge cash, US dollar and ornaments stolen from Giriraj Singh's flat on July 7 and would act according to law. "Patna police and Income Tax have already been probing the source of the wealth recovered. If need arises other forms of inquiry could be ordered," he said.


Former Chief Minister Nitish Kumar expressed surprise over volume of cash and US dollar which were recovered. "The volume is big. It raises question as from where did it come?" Kumar told reporters emerging from Legislative council. He hailed prompt action by Patna police in nabbing the culprits and recovery of stolen items in short time.

JD(U) MLAs sat on dharna at the main entrance of the Assembly demanding immediate arrest of Giriraj Singh, BJP MP from Nawada and termination of his membership in the wake of recovery of such a huge amount of cash and US dollars.

JD(U) MLA Manjit Singh told reporters that it was a challenge for the Prime Minister Narendra Modi who made "lofty" speeches on black money during poll campaign to act against his party MP harbouring ill gotten wealth. Singh and his party colleague Dawood Ali demanded the state government to act under provisions of anti-corruption laws against the BJP MP, confiscate his properties and convert it into school for poor as has been its policy.

Similar was the scene in Legislative Council where JD(U) members created ruckus over Giriraj Singh issue. Police had recovered the stolen items from the BJP MP's flat with the arrest of four persons on Tuesday.

Former Chief Minister and RJD leader Rabri Devi expressed surprise over recovery of cash and US dollar stolen from Giriraj Singh's house and sought proper inquiry into its source. Told that the MP was claiming that the recovered items were of his cousin, she said "it's an excuse as the money seems to have been earned by him as minister of Animal Husbandry during NDA rule."

But, BJP described it as "non-issue" and assailed the ruling party for disrupting both the Houses over the matter.

"State government has all the power to probe such a matter so why its members are disrupting proceedings of the two Houses?" leader of opposition in Legislative Council Sushil Kumar Modi told reporters.

He laughed at the JD(U) demand for termination of membership of Parliament of Giriraj Singh saying "can membership go on such an issue?"

Sushil Modi's counterpart in Assembly Nand Kishore Yadav told reporters that it was unprecedented that members of the ruling party are trooping into the well to disrupt proceeding of the House over a non-issue without giving any notice for adjournment.

Source: news18

Tuesday, July 1, 2014

बिहार के 11 विधायक 'प्यार, मोहब्बत, जिंदाबाद' कहते नजर आएंगे

आपने किसी मंत्री के कहने पर विधायकों को जिंदाबाद के नारे लगाते हुए देखा होगा, मगर अब बिहार में एक मंत्री के कहने पर 11 विधायक 'प्यार, मोहब्बत, जिंदाबाद' कहते नजर आएंगे. दरअसल बिहार के कला, संस्कृति और युवा मामलों के मंत्री विनय बिहारी फिल्म 'प्यार, मोहब्ब्त, जिंदाबाद' का निर्देशन कर रहे हैं और इसमें 11 विधायक अभिनय कर रहे हैं.



फिल्म निर्देशक विनय बिहारी निर्दलीय विधायक के तौर पर चुनाव जीतकर बिहार विधानसभा में आए हैं. यही कारण है कि फिल्म में अपने अभिनेताओं के चुनाव में भी कोई दल आड़े नहीं आया. फिल्म में अभिनय करने वाले 11 विधायकों में सतारूढ़ जनता दल (युनाइटेड) के छह, भारतीय जनता पार्टी (भाजपा) के चार और एक निर्दलीय विधायक ने काम किया है. यह फिल्म चार जुलाई को रिलीज होना है.

मंत्री व फिल्म निर्देशक विनय बिहारी ने बताया कि 14 गीतों वाली इस फिल्म में भोजपुरी सिनेमा के कलाकार पवन सिंह और पाखी हेगड़े मुख्य भूमिका में हैं.

उन्होंने कहा, "मेरा यह सपना था कि मैं ऐसी फिल्म बनाऊं जिसमें हमारे विधायक अभिनय करें. इस फिल्म के आने के बाद मेरा सपना पूरा होगा." नेताओं के फिल्म में आने के विषय में वह कहते हैं कि जब अभिनेता नेता बन सकते हैं तब नेता अभिनेता क्यों नहीं बन सकता? इसमें बुराई क्या है?

विनय कहते हैं, "वैसे तो यह फिल्म एक कहानी प्रेम पर आधारित कहानी है, परंतु इसमें बाल-विवाह, नशाखोरी, जातीय भेदभाव जैसे जामाजिक मुद्दे उठाए गए हैं और समाज को इन बुराइयों के विषय में फिल्म के द्वारा संदेश दिया गया है."



अपनी फिल्म को पूरी तरह पारिवारिक फिल्म बताते हुए मंत्री ने कहा कि विधायकों की 'पब्लिसिटी' के कारण लोग इस फिल्म को देखेंगे. उन्होंने बताया कि इस फिल्म में खगड़िया के बाहुबली रणवीर यादव खलनायक की भूमिका में होंगे, जबकि उनकी दोनों पत्नियां खगड़िया की विधायक पूनम देवी और लोकसभा चुनाव हार चुकीं कृष्णा देवी ने भी इस फिल्म में भूमिका निभाई है.

विधायक और मंत्री श्रवण कुमार के अलावा प्रदीप कुमार, राजेश सिंह, सुमित कुमार, ललन राम ने भी इस फिल्म में अभिनय किया है. भाजपा की उषा विद्यार्थी, भागीरथी देवी, श्यामदेव पासवान और जवाहर पासवान के अलावा पूर्व सांसद वैद्यनाथ महतो और ओबरा के पूर्व विधायक सोम प्रकाश ने भी इस फिल्म में 'प्यार, मोहब्बत, जिंदाबाद' कहते नजर आएंगे.

उल्लेखनीय है कि विनय बिहारी भोजपुरी फिल्मों के गीतकार के रूप में अपनी पहचान बना चुके हैं और अब देखने वाली बात है कि उनके साथ विधानसभा में वाद-विवाद करने वाले विधायकों द्वारा अभिनीत इस फिल्म को दर्शक कितना पसंद करते हैं.

Source: ABP