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
May 4,2024

Mangaluru: Dakshina Kannada Deputy Commissioner (DC) Mullai Muhilan MP said that election for the South West Teachers and Graduates constituencies will be held on June 3.

The notification for the same will be issued on May 9. The last date for filing nominations is May 16. The nominations must be submitted to Regional Commissioner in Mysuru and the last date for withdrawal of nomination is May 17.

The counting of votes will be held on June 6.

As of December 30, 2023 there are 6753 voters in DK district in the South West Teachers Constituency out of which 4520 are women. On the other hand, there are 16,869 graduate voters in the district for the South West graduates constituency.

The voters can submit their application for enrollment in electoral list of the South West Teachers and graduates constituency till May 6. The applications can be submitted at Mangaluru City Corporation or all the taluk offices.

Bulk applications can be submitted by Bar Association, Doctors association, Chartered Accountants Association, registered engineers association for the graduates constituency.

Those who are graduates prior to November 11, 2020 can enroll for voters list in the graduates constituency  by submitting Form 18 along with photo copy of marks card, Aadhaar card, voters' identity card and residential address.

For getting oneself enrolled in the teachers constituency voters, an individual should be teaching for minimum three years prior to November 1, 2023 in high school or higher educational institutions.

For the teachers constituency, educational institutions can submit applications in bulk. If wrong details are furnished in these applications, then they will be punishable under Section 31 of Representation of People Act, warned the DC.

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News Network
May 11,2024

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Karnataka: BJP leader and advocate G Devaraje Gowda was arrested in connection with a sex abuse video allegedly belonging to Hassan JD(S) MP Prajwal Revanna.

According to police, Devaraje Gowda was arrested at Gulihal tollgate by the Hiriyur police in this district on Friday night for leaking the video in a pen drive.

He was arrested on a tip-off received by the Hassan police, which wanted his presence for the case.

Several explicit videos involving Prajwal started making the rounds ahead of the first phase of Lok Sabha elections in Karnataka, which took place on April 26.

The MP, a grandson of former prime minister H D Deve Gowda, is absconding and a 'blue corner' notice has been issued against him by Interpol.

Three FIRs, including charges of rape, molestation, intimidation, blackmailing and threatening, have been registered against Prajwal.

Devaraje Gowda is accused of leaking these videos, which he has categorically rejected.

He contested in the 2023 Assembly elections against JD(S) MLA from Holenarasipura H D Revanna.

H D Revanna, father of Prajwal, is at present in jail on charges of kidnapping a woman, a mother of three.

Ahead of polls, Devaraje Gowda had warned BJP’s central leadership against backing Prajwal Revanna and brought his sex scandal to light.

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News Network
May 14,2024

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Mangaluru, May 14: The Met department has sounded a yellow alert in 13 districts of Karnataka including the three coastal districts of Udupi, Dakshina Kannada and Uttara Kannada for next four days. 

The other districts are Belagavi, Dharwad, Haveri, Chikkamagalur, Chitradurga, Hassan, Kodagu, Mandya, Ramanagara, Shivamogga. These districts are expected to received 6-11 cm of rain, the department said.

On Monday Dakshina Kannada and Udupi experienced a monsoon-like atmosphere. Rain, accompanied by thunder and lightning, began in most parts on Sunday evening. In Udupi, rain showered in the early hours of Monday. While Kundapur and Udupi received moderate rains, Karkala experienced a heavy downpour.

The showers lowered the daytime temperature in both districts. Light rain fell in Mangaluru and its outskirts early Monday morning. Mangaluru city recorded a maximum temperature of 33.4°C and a minimum of 23.2°C on Monday. This is expected to decrease by two to four degrees in the next four days, according to the weather department. 

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