Key takeaways from Finance Minister’s ‘Amrit Kaal’ budge speech

News Network
February 1, 2023

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New Delhi, Feb 1: Presenting her fifth annual Budget, Finance Minister Nirmala Sitharaman on Wednesday said that the government is adopting seven priorities to guide India through the Amrit Kaal. Major announcements for taxpayers were also made in the Budget.

"The budget adopts following seven priorities -- inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector," the Finance Minister said. Amrit Kaal is described by the government as the 25-year period culminating in the centenary of India's independence. The finance minister said seven priorities of the budget complement each other.

She said four transformative opportunities can be used in Amrit Kaal for enhancing economic empowerment.

Here are the highlights of the Budget Speech:

* The FM proposed to increase income tax rebate limit from Rs 5 lakh to Rs 7 lakh under the new tax regime

* The new tax rates are 0 to Rs 3 lakhs - nil, Rs 3 to 6 lakhs - 5%, Rs 6 to 9 Lakhs - 10%, Rs 9 to 12 Lakhs - 15%, Rs 12 to 15 Lakhs - 20% and above 15 Lakhs - 30% under the new tax regime

* An individual with annual income of Rs 9 lakh will have to pay only Rs 45,000 as tax as opposed to Rs 60,000 earlier, she said. 

* Outlay for capital spending increased 33% to Rs 10 lakh crore in FY24

* The capex allocation is higher than the Rs 7.5 lakh crore budgeted for in the previous year and the highest on record

* Budget allocations increased to Rs 79,000 crore for affordable housing in FY24 under the PM Awaas Yojana

* Rs 35,000 crore to be provided for energy transition

* The FM proposed a cut in customs duty on lab-grown diamonds

* Incentives to replace old, polluting vehicles used by the central and state governments also proposed by teh government

* Revamped scheme for credit guarantee for small and medium businesses from April 1

* Collateral free credit of Rs 2 lakh crore under revamped scheme to be provided

* Increase in public capex key to crowding in private investments

* Integrated IT portal will be set up for reclaiming unclaimed shares and dividends

* Govt proposes to cap deductions from capital gains on investments in residential houses to Rs 10 cr

* Highest surcharge rate reduced from 37% to 25% in new tax regime

* Taxes on cigarettes hiked by 16%

* Basic customs duty hiked on articles made from gold bars

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News Network
March 9,2023

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Mangaluru, Mar 9: Dr. Preethi Lolaksha Nagaveni, a Legal Scholar from Mangaluru, has once again delivered a joint oral statement before the United Nations Committee on the Rights of Persons with Disabilities on 7th March 2023 along with Dr. Amit Anand. 

The Oral statement was delivered under the topic, “Impacts and Challenges faced by persons with disabilities in situations of risk and the role of State and Non-State actors in addressing them”.

Dr. Preethi has earlier presented three joint oral statements before various UN committees.

Dr Preethi in WHO Database

Recently World Health Organization [WHO] has included her Book Chapter in its official “WHO COVID-19 Research Database”. The book titled ‘COVID-19 IN ASIA -LAW AND POLICY CONTEXTS, published by Oxford University Press, New York in which Dr. Preethi along with Prof Susan Breau, Dean of faculty of Law, University Victoria, Canada has written a chapter on “International Health Regulations and Compliance in Asia”.

The authors have critically examined the limitations of the International Health Regulations due to which the WHO was in crisis in managing the COVID -19 pandemic and recommended appropriate amendments to the said Regulations. 

Work cited by the UN Committee

Dr Preethi, along with Dr. Amit Anand, had submitted inputs to the United Nations Committee on Child Rights as part of Day of General Discussion on “Children’s Rights and Alternative Care” which was held on 16th and 17th September 2021, during the 88th Session of the Committee at the United Nations Office in Geneva. In their report, the young scholars have suggested ‘The Measures to Prevent Sexual Abuse of Children in Residential Care Homes in India’. Taking cognizance of the importance of the report submitted by the young scholars, the United Nations Committee on Child Rights has not only published it in the official website of the Office of the United Nations High Commissioner for Human Rights (OHCHR) but also cited their report in its Background Document on “Children’s Rights and Alternative Care – September2021”.

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News Network
March 21,2023

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Yoga guru Swami Ramdev once again targeted the allopathic system of medicine, saying that there is no cure for diseases like cancer, hypertension and diabetes in allopathy, whereas through Ayurveda they can be eradicated from the root.

Ramdev made the remark while addressing the closing session of the International Ayurveda Conclave-2023 organised under the joint aegis of Uttarakhand Ayurved University and Deendayal Kamdhenu Gaushala Samiti on Sunday.

Uttarakhand Chief Minister Pushkar Singh Dhami, cabinet minister Satpal Maharaj, and vice chancellor of Ayurveda University Sunil Joshi also attended the programme.

Noting the importance and medical properties of cow's milk, Ramdev said it increases the body's immunity.

It “cures” many diseases naturally, he said, adding people around the world have it.

Ramdev claimed that diseases like cancer have been cured by the combination of cow urine extract and Ayurvedic medicines in his institute.

While addressing the students of Ayurveda, the Yoga guru said that there is no cure for diseases like diabetes, high blood pressure, and cancer in allopaths whereas Ayurveda has remedies for all these illnesses.

The Yoga guru has been in controversy with Ramdev in the past for making such statements against allopathic medicine.

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News Network
March 15,2023

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New Delhi, Mar 15: Leaders of 18 Opposition parties began their march to the Enforcement Directorate's (ED) office in Delhi today to press for an investigation into the Adani-Hindenburg issue.

The stage is set for a massive face-off between Delhi Police and the marching leaders. Police have put up barricades and deployed several mobile vans to block the march.

Mamata Banerjee's Trinamool Congress and Sharad Pawar's Nationalist Congress Party, it is learnt, will not be joining the march.

US short seller Hindenburg Research has alleged that the Adani group was "engaged in a brazen stock manipulation and accounting fraud", and used offshore shell companies to inflate stock prices.

The group has denied the allegations, calling them "malicious", "baseless" and a "calculated attack on India.

The Supreme Court has set up a six-member committee of experts to examine issues arising out of the stock crash. The committee has been tasked with an overall assessment, suggesting measures to make investors more aware and to strengthen regulatory measures for stock markets.

The Adani Group has welcomed the Supreme Court order, with Chairman Gautam Adani saying "it will bring finality in a time bound manner" and "truth will prevail".

While a section of Opposition parties have welcomed the Supreme Court order, another, including the Congress, have insisted on a probe by a joint parliamentary committee (JPC).

The Opposition's demand for the JPC probe and the government's offensive on Rahul Gandhi's remarks in London have led to an impasse in Parliament. The first three days of the second leg of the Budget session have seen frequent disruptions and repeated adjournments.

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