Showing posts with label Budget. Show all posts
Showing posts with label Budget. Show all posts

Tuesday, April 6, 2010

Mamata backs Yadavs on quota within quota

The Trinamul Congress chief and railway minister, Ms Mamata Banerjee, on Monday once again joined hands with the Yadav troika of Mulayam, Lalu and Sharad in blocking the Women Reservation Bill in its present form during the all-party meeting.

She had made her stand clear on the issue when the bill was passed in the Rajya Sabha during the first part of the Budget session, as she favoured a sub-quota for Muslims within the 33 per cent quota for women.

A key ally of the Congress-led ruling UPA, the TMC favoured “consensus” over the legislation before the bill is brought to Lok Sabha for its passage. Sources in the UPA said, the sudden U-turn by Ms Banerjee had brought considerable embarrassment.

Interestingly, Ms Banerjee had a separate meeting with the Yadav triumvirate. The meeting lasted for about five minutes, but as sources confirmed, “the point had been made”. The foursome then went to meet to the senior Congress leader and finance minister, Mr Pranab Mukherjee, who had chaired the all-party meeting and conveyed their objections. “The message was loud and clear that Mamtadi is with the Yadav Bandhus (Yadav brothers),” the sources said.

The Yadav troika continued to remain stubborn on the issue, as they persisted with their demand of having sub-quota for Muslim, OBC and dalit within the overall 33 per cent quota for women.

Friday, March 19, 2010

No new taxes in Tamil Nadu budget

Tamil Nadu Finance Minister K. Anbazhagan on Friday presented a Rs. 3,396.45 crore deficit budget and refrained from imposing fresh taxes.

The Minister presented the State budget in the new Assembly-Secretariat complex on Omanthoorar Government Estate here on Friday.

Reduction in taxes on a variety of articles used by the common man was announced by the minister, who presented the fourth budget of the DMK government in the state.

The state government also announced that an industrial park would be set by the State Industries Promotion Corporation in Villupuram district.

The goverment would spend Rs. 22 crore to expand Tamil Nadu State Wide Area Network which connects headquarters of various departments of government in district, divisional and block level through internet.

On the women welfare front, the government has announced enhancing assistance under ‘Moovalar Ramamirtham Ammaiyar Memorial Assistance’ scheme from Rs. 20,000 to Rs. 25,000.

Iodised salt would be given to pregnant women free of coast through fair price shops.

For the welfare of differently- abled persons, the budget said upper income limit prescribed for availing assistance under various government welfare schemes will be completely removed.

Allocation for scheduled castes sub-plan has been increased from Rs 567. crore to Rs. 3,828 crore and this was 19 per cent of the total plan outlay.

The Vote on Account for 2010-2011 and Final Supplementary Estimates for 2009-2010 will be presented on March 26.

Friday, March 5, 2010

Kerala Budget presented; rice at Rs 2 a kg for workers

In addition to the scheme for the workers, the Finance Minister Thomas Isaac said, a green fund with a corpus of Rs. 1000 crores would be used for regeneration of forests and related activities.

Kerala Finance Minister Thomas Isaac announced rice at Rs. 2 a kg to workers in the unorganised and traditional sectors as he began presenting the budget at the State Assembly today.

He earmarked Rs. 500 crore for the scheme. He also announced an income support scheme for traditional workers. The health insurance scheme would be expanded.

Welfare pensions would be increased to Rs. 300 a month. The pension would be available to one of the helpers of disabled also. New allowances were announced for SC and ST students.

Mr. Issac said that a green fund would be formed with a corpus of Rs. 1000 crores. The fund would be used for regeneration of forests and related activities. Assistance would be provided for protection of mangroves and sea turtles. Rs. 100 crore would be allocated for planting of trees. Desilting of dams would be intensified for recovery of sand.

He also announced that Rs. 1500 crore would be spent for saving power through measures such as the use of CFL lamps. Municipalities would be given assistance to set up plastic recycling units.

Selected police circle offices would be made women-friendly. Marriage assistance of SC and ST women would be increased. Assistance to Kudumbasree would go up.

He said that the LNG terminal in Kochi would be commissioned in 2012. Rs. 17 crore had been earmarked for works related to the project.

Mr. Isaac said that the government had been able to bring down the suicides of farmers. Farmers suffering losses in agriculture would be compensated.

He began his speech by recalling the verses of poet Vyloppilly Sreedhara Menon. Relating to the verses, the Minister said that he was presenting a red and green budget.

Revenues had gone up. But expenditure needs to be controlled. But there would be no miserly attitude as far as the welfare of the weaker sections is concerned.

The Finance Minister said that deficit could be checked only if the Central government provided assistance. The anti-people policies of Central government increased deficits. So the Fiscal Responsibility Act could not be implemented in full. ASEAN trade pact would hit the farmers.

The allocation for agriculture sector would be increased by about 50 per cent to Rs. 622 crore. Rs. 30 crores was being earmarked for coconut development. Cattle insurance would be implemented from this year.

He said that the price rise was the lowest in Kerala.

Wednesday, March 3, 2010

Fuel price hike: AIADMK state-wide protest on March 6

Demanding an immediate rollback of the fuel price hike, AIADMK today announced that it would hold a state-wide demonstration on March 6 over the issue.

Party leader Jayalalithaa said protests would also be held in states like Maharashtra, Delhi, Karnataka and Puducherry, where her party was functioning.

“At a time when the country was expecting budgetary measures to curb price rise, the Centre has increased excise and customs duties on fuels, resulting in their prices going up,” she said in a statement here.

“The primary focus of the Centre and states at this point of time should have been on controlling price rise,” she said.

The hike had already resulted in a 20 per cent increase in fares of autorickshaw, lorry and private vehicles, she said, adding that this would further lead to an increase in prices of essential commodities, affecting lower income groups.

Various wings of AIADMK would take part in the protest, to be headed by different leaders of the party, she said.

Saturday, February 27, 2010

“Budget adds fuel to fire”

The Bharatiya Janata Party (BJP) on Friday accused Union Finance Minister Pranab Mukherjee of adding fuel to the fire by rolling back the duty cuts on petroleum products. “The nation was hoping for a remedy against back-breaking prices. Instead, people have been given a budget that will further push up prices,” said BJP leader Yashwant Sinha in the party’s critique of the budget.

Instead of meeting the challenge posed by runaway inflation, the Minister has buckled under it. Now inflation and price rise cannot be contained, Mr. Sinha said, briefing the media after the budget was presented.

Justifying the Opposition walkout, he said Mr. Mukherjee violated the limits of tolerance of the masses with his announcements on fuel pricing. This time the government has given up the distinction between diesel and petroleum while tweaking prices. It has used the tax route to alter the price structure, and kept the difference in the hike of petrol and diesel at only nine paise, the former Union Finance Minister said.

Taking a dig at Mr. Mukherjee’s claim that “this budget belongs to the aam aadmi,” he said this was not reflected in the proposals. No attempt has been made to tackle urban unemployment and the Rs. 1,000 crore increase in the allocation for the Mahatma Gandhi National Rural Employment Guarantee Scheme was not even sufficient to take care of the rate of inflation. As for the agricultural sector, the allocations were too little to make any impact on the agrarian crisis.
Rationale questioned

Mr. Sinha has also questioned the rationale in the proposal to set up a ‘Coal Regulatory Authority.’ Does this mean that the government plans to open the coal sector to private players, he asked. If this were the case, then the government should come clean on it and admit that it wants to amend the Coal Mines (Nationalisation) Act.

In a separate statement, the former BJP president, Rajnath Singh, said: “The budget has not only disappointed the people but also dealt a body blow to the expectations of some announcement of concrete measures from the government to counter the mounting inflationary pressures on our economy.”

An exceedingly good budget: Manmohan

Prime Minister Manmohan Singh on Friday described the Union budget presented by Finance Minister Pranab Mukherjee as an “exceedingly good” and one which would help the economy return to nine per cent growth.

Stating that it represented “a job well done,” Dr. Singh said: “You must look at the total picture emerging from the budget. The net revenue gain for the Finance Minister is only Rs.20,000 crore. In an economy as large as India, this resource mobilisation effort and balance should not trigger any inflationary expectation. At the same time, it gives the muscle needed.”

Defending Mr. Mukherjee within minutes of the Finance Minister drawing the ire of nearly half the Lok Sabha for the proposal regarding restructuring of fuel prices, Dr. Singh said: “The Finance Minister has not called back to the pre-stimulus excise duty rate. He has still exercised moderation signalling the economy that you cannot have all things together.”

On the issue of fuel price restructuring, the Prime Minister explained that “the economy has the capacity to absorb this order of adjustments in excise duties and customs duties without generating a wholesale inflationary spiral.” Further, he sought to point out that these duties were reduced when petroleum prices had touched $112 a barrel. “Now, petroleum prices are much lower,” he added.

As for the introduction of Goods and Services Tax, Dr. Singh said it required a consensus and that all States would have to be on board for it to be implemented. Hopeful of addressing such contentious issues during the year, the Prime Minister sought to sound optimistic about the economy, maintaining that it would grow by 7.2 per cent despite a negative agricultural growth.

Three objectives

For his part, Mr. Mukherjee said he had three objectives while formulating the budget — fiscal consolidation, inclusive growth and returning the country to a growth trajectory as quickly as possible.

Confident of achieving the budgetary proposals vis-À-vis growth and fiscal consolidation, he underlined the fact that 37 per cent of the plan allocation had been set aside for the social sector.

Though he refused to field questions in the post-budget customary fleeting interaction with the media on Parliament House premises, Mr. Mukherjee further stressed the “aam aadmi” component by pointing out that 25 per cent of the plan allocation for infrastructure development — which alone accounted for 46 per cent of the total — was reserved for rural India.

Friday, February 26, 2010

Govt starts rolling back stimulus, raises excise duty by 2%

The government on Friday hiked excise duties by 2 per cent to 10 per cent on all non-oil products as part of withdrawal of stimulus measures with Finance Minster Pranab Mukherjee saying the economy was on the recovery path.

Excise duty was cut by six per cent in two phases since December 2008 from a peak of 14 per cent earlier to perk up the economy, which came under the impact of deepening financial crisis.

However, Mr. Mukherjee, in the Budget for 2010-11, retained service tax at the level of 10 per cent.

The tax was cut by two per cent from 12 per cent as part of stimulus.

The tax proposals will pave the way for introduction of Goods and Services Tax by levelling both excise duty and service tax to 10 per cent.

Interestingly, the increase in excise duty came on a day when economic growth slips to six per cent in the third quarter from stunning 7.9 per cent in the preceeding quarter of this fiscal.

As a result of partial withdrawal of stimulus measures, the government would stand to gain about Rs 46,500 crore from changes in the indirect taxes, mainly excise.

On other hand, Mr. Mukherjee announced major direct tax sops including income tax concessions, which will result in a revenue loss of Rs 26,000 crore.

Besides, Mr. Mukherjee hiked excise duty on petrol and diesel by Re one a litre, a move that would make the motor fuel costlier.

Sunday, February 21, 2010

Rosaiah presents Rs. 1.13 lakh cr. budget

Treading the path of Y.S. Rajasekhara Reddy, Andhra Pradesh Chief Minister K. Rosaiah presented a Rs. 1.13 lakh crore budget for 2010-11 in which he assigned high priority to welfare and enforced cuts into certain sectors of development. He neither proposed fresh taxes nor increased the existing ones while presenting the budget, the 16th in his career and first as Chief Minister.

The budget outlay is Rs. 8,516 crore higher than that of the current fiscal (Rs. 1.05 lakh crore). This hike is of little significance since it will be neutralised by inflation. Over 60 per cent of the revenues for the budget are expected to be raised from the State’s own resources and the balance contributed by the Centre in the form of tax-sharing and grants. An important announcement was the revival of the Constituency Development Fund with allotment of Rs. one crore each to members of the Assembly and the Legislative Council.

The budget comprises plan outlay of Rs. 40,313 crore (including money for Centrally-sponsored schemes) and non-plan outlay of Rs. 73,347 crore. Plan funds, meant for creating capital assets, have been reduced by Rs. 1,579 crore (from Rs. 41,892 crore in 2009-10). On the other hand, non-plan expenditure, has been hiked by a whopping sum Rs. 10,095 crore because of the higher wage bill of the employees and higher subsidies to the poor.

Mr. Rosaiah walked into the House with a suitcase in hand and read out the 29-page text in 70 minutes. Congress members thumped desks when he recalled the contribution of Y.S. Rajasekhara Reddy in the areas of welfare and development and listed out schemes such as Arogyasri and subsidies to farmers while Telugu Deam members pooh-poohed them.

Referring to the “trials and tribulations” the State was undergoing in the wake of the agitations for and against Telangana statehood, Mr. Rosaiah said that but for these developments, the growth rate of Andhra Pradesh would have been excellent despite global slowdown. He appealed to everyone to ensure peace as this was the least an investor would expect. “Sink your differences and join hands with the government to place the State back on track and achieve a 7 per cent growth rate.” He justified the weightage given to welfare saying that the wealth created would have to be distributed to the less fortunate. All welfare schemes and subsidies would be continued and pensions paid to AIDS patients.

Direct allocations

The overall outgo for the weaker sections is more than Rs. 20,000 crore, including direct allocations to each section, the massive scholarship/tuition fee reimbursement benefit and subsidies under various schemes such as Indiramma and rice scheme. For the first time, a sum of Rs. 300 crore was provided for scholarships to upper caste students.

Saturday, February 20, 2010

Rosaiah presents tax-free budget

Notwithstanding a grim financial picture in the face of a troubled political situation, Andhra Pradesh Chief Minister K. Rosaiah on Saturday, presented a tax-free budget for 2010-11 with an outlay of Rs. 1,13,675 crore and a projected expenditure of Rs. 1,13,660 crore.
The budget estimates, presented to the State Assembly, show a fiscal deficit of Rs. 12,983 crore, which will be about Rs. 1,300 crore less than the revised estimates for the 2009-10 fiscal, and a revenue surplus of Rs. 3,548 crore, up from Rs. 2,942 crore.
The grim picture that the government, including the Chief Minister himself, has been projecting for the past few months did not reflect in the budget as revenue receipts showed no significant fall except for a meagre Rs. 558 crore and not Rs. 8,000 crore as feared. As per the revised estimates for 2009-10 fiscal, revenue receipts stood at Rs. 78,406 crore while the projected revenues for 2010-11 are Rs. 90,648 crore.
“The global economic slowdown has impacted the economy of all States in the country, much more than what we initially anticipated. Of late, the GDP growth rate has been showing signs of recovery which would surely be reflected in the growth rates of revenues in near future,” Rosaiah, who presented a record 16th budget and the first as Chief Minister, observed.

Wednesday, February 3, 2010

Budget Session from February 22

 The budget session of Parliament will commence on February 22 and the General Budget for 2010-11 will be presented on February 26. President Pratibha Patil will address both Houses of Parliament on the opening day.The Railway Budget 2010-11 will be presented on February 24.

In order to enable the Standing Committees to consider the Demands for Grants of various ministries and departments and prepare their reports, the Lok Sabha will adjourn on March 16 (rpt) 16 to reassemble on April 12, a Lok Sabha press release said. The Rajya Sabha will begin its sitting from February 22. Subject to exigencies of business, the session is scheduled to conclude on May 7.

Sunday, January 31, 2010

State Budget on Feb. 20, Cabinet nod for pay hike

The AP Legislative Assembly’s Budget Session will begin on February 15 and the Budget will be presented on February 20. The session which will continue till the end of March is going to be crucial for the Congress government in the wake of agitations over the bifurcation of the state.
The Chief Minister, Mr K. Rosaiah, who chaired the Cabinet meeting on Saturday had reportedly advised Cabinet colleagues to come prepared thoroughly for the session.
The Cabinet approved the pay revision agreement entered with the Joint Action Committee of Employees, Teachers and Workers.
Later the secretary (services) of general administration, Ms Sri Lakshmi and JAC leaders signed the agreement which ensured 39 per cent fitment on the basic pay with effect from July 1, 2008.
The government has issued an ordinance to provide reservation of 20 per cent of seats for the students of the state in the Nalsar University of Law.
“The government had given 50 acres of land and Rs 41.96 crore as grant-in-aid for the Nalsar university. With this, the government has given nod for 20 per cent reservations in seats. The decision is going to benefit several students who are appearing for the national common entrance test to get seats in the university,” said Ms J. Geeta Reddy, minister for information and public relations while briefing the Cabinet decisions.
The Cabinet also approved setting up of family courts in nine districts of the state. The expenditure on these nine courts will be Rs 2.10 crore per year.
Nine such family courts had already been set up in the first phase and now the state has 18 family courts.
The Cabinet sanctioned Rs 20 crore for construction of buildings and setting up 21 polytechnic colleges in 12 districts of the state. The government has increased the interest subsidies on the loans taken by the handloom weavers from Rs 15,000 to Rs 1 lakh.
The Cabinet has also decided to set up ESI hospital in Nellore district and sanctioned 13 civil surgeons posts, 6 regular posts, 34 contract and 6 posts on outsourcing basis. In the Tirupati Vedic University, 8 engineering posts were sanctioned.
In the Endowments department, the eight superintendent posts and one special category steno post have been upgraded as Assistant commissioner rank.
 
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