Hemant Soren Arrested At Raj Bhavan

Jalpaiguri On Thursday, Governor CP Radhakrishnan refuted claims that Raj Bhavan had anything to do with the Enforcement Directorate's (ED) arrest of former chief minister Hemant Soren in connection with a money laundering case involving a purported land scam. Hemant Soren, the executive president of JMM as well, was taken into custody on January 31 following a seven-hour interrogation by federal agency detectives. A few days later, he claimed that the Centre had hatched a "conspiracy" to get him arrested, and Raj Bhavan had played a key role in it."There is no indication that Raj Bhavan has been misused. We have adhered to every democratic standard with extreme strictness...The former chief minister himself has agreed in his letter that he resigned before being taken to ED custody," he added.   I'm never sure who works in the ED. Their faces and names elude me. For a short while, I was with them. "I won't recognize them if you want me to," CP Radhakrishnan said at a press conference held here.     It was the CMO who announced that Hemant Soren would be filing for resignation, according to CP Radhakrishnan, not Raj Bhavan.   "Our principal secretary received a call from the ED stating that we have taken custody The second message was from the chief secretary, who declared himself to be the prime minister. My principal secretary then clarified that he would remain so until his resignation. Additionally, I was told by the CMO that he would be resigning today. The governor remarked, "I waited for three hours straight."   According to CP Radhakrishnan, after that, the chief secretary called his principal secretary and told him that the chief minister couldn't accompany the ED officials alone and that a few senior ministers should be permitted to accompany him.   The governor went on, "I told him three of the most senior ministers can accompany him."

Jeff Bezos plans to sell 50 million Amazon shares over next year

The disclosure came through a filing with the US Securities and Exchange Commission (SEC), where Amazon revealed Bezos' trading plan.In a move that has captured market attention, Amazon's founder Jeff Bezos is set to offload a significant portion of his company shares over the next year. Reports from various media outlets indicate Bezos' intention to divest at least 50 million shares of the e-commerce giant. The disclosure came through a filing with the US Securities and Exchange Commission (SEC), where Amazon revealed Bezos' trading plan. As the executive chair of the company, Bezos' move signals a strategic adjustment in his investment portfolio. The plan outlines the potential sale of up to 50 million shares by January 25 of the following year, subject to specific conditions. While Bezos, who recently marked his 60th birthday, retains a vast holding of nearly one billion Amazon shares, this divestment plan represents a substantial reduction in his stake. Additionally, the filing reveals that seven other top executives at Amazon have formulated similar trading plans to sell shares.Bezos' shareholding in Amazon is a cornerstone of his considerable personal wealth, currently estimated at $193.3 billion. The planned divestment underscores a deliberate repositioning of assets by one of the world's wealthiest individuals. Amazon's financial performance remains robust, with impressive figures reported for the holiday quarter ending December 31, 2023. The company saw a 14% increase in net sales, reaching $170 billion compared to $149.2 billion in the same period of the previous year. Net income also surged to $10.6 billion in Q4 2023, compared to $0.3 billion in Q4 2022. Notably, the Amazon Web Services (AWS) segment reported a 13% year-over-year increase in sales, totaling $24.2 billion. CEO Andy Jassy commented on the exceptional performance, describing the holiday season as "record-breaking." Jassy expressed optimism for the company's trajectory in 2024, highlighting ongoing efforts and forthcoming opportunities.As Bezos prepares to execute his share sale plan, the market will closely monitor its impact on both Amazon's stock value and Bezos' personal financial landscape.    

When SRK-Salman Fight Was Put Out by Former Congress Leader Baba Siddique

After almost 50 years of affiliation with the Congress, former Maharashtra minister Baba Siddique announced his resignation today. Veteran of the Maharashtra political scene, Mr. Siddique held ministerial positions during the administrations of both the Congress and the NCP coalition led by Sharad Pawar. In addition to his cross-party political connections, Mr. Siddique is well-known for throwing extravagant parties. During one such gathering in 2013, Mr. Siddique unintentionally helped bring Bollywood superstars Salman Khan and Shah Rukh Khan together.Over the years, the two actors have remained close despite their publicized arguments and sporadic clashes. Their five-year cold war came to an end in 2013 at Baba Siddique's Iftaar party, marking a pivotal point in their relationship. The highly anticipated reunion between the Khans took place against the backdrop of Mr. Siddique's Iftaar party. After an intense argument at Katrina Kaif's birthday party in 2008, Shah Rukh Khan and Salman Khan avoided each other until they finally met. They gave each other a warm greeting and a sincere hug, which instantly relieved the tension that had been hanging over their relationship. That moment was captured in a picture that quickly went viral on social media and news outlets.  After an incredible 48 years, Mr. Siddique announced his resignation from the Congress in a social media post today. "It has been a noteworthy 48-year journey for me to become a member of the Indian National Congress party when I was a young teenager. With immediate effect, I am leaving the Indian National Congress Party @INCIndia as of today. I would have liked to say a lot, but sometimes it's better to keep things quiet. I express my gratitude to everyone who has shared in this journey," he wrote.      

Chandigarh Mayor Polls Postponed Until February 6 Amid BJP-AAP Conflict

"Chandigarh's mayoral elections, which were postponed earlier today amidst much controversy, will now take place on February 6, according to the Union Territory's Deputy Commissioner. A statement from the Commissioner's office stated, ""This decision follows a thorough assessment of the security and law and order situation by the Senior Superintendent of Police, UT, Chandigarh.""""As the Prescribed Authority for this important meeting, Shri Anil Masih, a councilor, has been nominated by Vinay Pratap Singh, Deputy Commissioner, Chandigarh. The statement stated that the meeting to elect the mayor will be chaired by Councilor Sh. Anil Masih and will follow the prescribed rules and procedures.The presiding officer became ill, so the election that the Aam Aadmi Party and the Congress had partnered for was postponed. The AAP and the Congress both claimed that the BJP had scuttled it because they expected to lose.He went on to say, "BJP is like a disgruntled child who takes away the bat and declares an end to the game when they are called out in gully cricket." He questioned why elections had to be postponed if the BJP was losing.The Congress is running for the deputy mayor and senior deputy mayor positions, and the AAP is running for mayor. The parties asserted that because of their combined strength, the BJP had yielded and they were the first party in the Opposition INDIA grouping.             "  

Gupta Rajendra Prasad Selected as the New Advocate General of Rajasthan

Governor Kalraj Mishra approved the appointment of Senior Advocate Rajendra Prasad Gupta as the new Advocate General of Rajasthan. As the replacement for the outgoing governor in December, this appointment represents a major shift in the legal leadership of the state. As MS Singhvi's replacement, Rajendra Prasad Gupta begins a new chapter in his tenure as Rajasthan's 19th Advocate General. Visit https://www.bankersadda.com/current-affairs-6-february-2024 for more informatiom.Legislative Authority and Obligations The Advocate General may attend State Legislature sessions and contribute to the legislative process without having a vote, as per Article 177 of the Constitution. Because of his special position, the Advocate General can provide legal insights into legislative discussions, improving the quality and ensuring that the legislative framework complies with legal requirements.   Crucial Exam Questions Who has been named Rajasthan's new Advocate General? When was the office of Advocate General of Rajasthan established, and who was the first person to hold it? What is the main constitutional authority that appoints the Advocate General, and what are their duties? What special privilege does the Advocate General have in the legislative process, as per Article 177 of the Constitution? 

What Made Jaya Bachchan Lose Her Composure in Parliament? "We e Not Schoolchildren

Samajwadi Party MP Jaya Bachchan responded sharply to Rajya Sabha Chairman Jagdeep Dhankhar's comment about a Congress leader during an outcry by opposition members over the omission of a question, stating that the members are "not schoolchildren" and would have understood if the matter had been explained to them. She added that respect should be shown for the MPs.  During Tuesday's Question Hour, Deputy Chairman Harivansh of the Rajya Sabha was questioned by Ms Bachchan, Congressman Deepender Singh Hooda, and other opposition members about why a question on aviation had been skipped. Vice President and Chairman of the Rajya Sabha, Jagdeep Dhankhar, asked the opposition members to take their seats amid the commotion and announced he would come back to the question. "You are not her (Ms. Bachchan's) spokesperson," Mr. Dhankhar remarked as Mr. Hooda persisted in his protest. She is one of the more senior members. She is a very senior member, so you don't need to help her."   In an attempt to diffuse the tension a bit later, Mr. Dhankhar stated he had mentioned that the answer to question number 18, which had been overlooked, would be addressed following the completion of the response to question number 19. It will be addressed calmly and an attempt will be made to find a solution. Since Jaya Bachchan ji is a very senior member, she can be trusted to take her feelings seriously when they come to me ", she remarked. The chairman cut Ms. Bachchan off mid-sentence, saying, "Jaya Bachchan ji, you are a very senior member. I would like to make a request. Anything you say is respected in the nation, even if it isn't otherwise.  You will lift our spirits all together, and I have no doubt that a talented actor such as yourself had to retake a lot of scenes.   Ms. Bachchan stepped in to say that she should be given the opportunity to speak and emphasized how much she respects the deputy chairman.

Finance Secretary: "No Conscious Discrimination" Regarding the Center-States Funds Row

According to TV Somanathan, the finance secretary, financial allocations to states—whether through tax devolution or money from federally sponsored welfare programs—are determined by consistent rules that prohibit discrimination. She made this statement in an exclusive interview with NDTV. The remarks made by Mr. Somanathan coincide with a day after a heated argument between Congress MP Adhir Ranjan Chowdhury and Finance Minister Nirmala Sitharaman over claims that non-BJP states are "deprived of (financial) dues.""In the operation of the Finance Ministry as regards funding to states, we go by formulae that have been laid down by the Finance Commission... we have not discriminated, for or against, any state government," Mr. Somanathan explained today, emphasizing what the Finance Minister had stated.There doesn't seem to be any intentional discrimination, but I won't get into the political aspects."   He stated that the distribution of GST, or the sharing of tax revenue, is based on percentages established by the Finance Commission and examined by the Comptroller and Auditor General. Bengal and Punjab, among other states, have regularly claimed withholding dues. This issue has been contentious for years. He emphasized that these were immutable and that funds were disbursed in accordance with the guidelines; yesterday, Ms. Sitharaman reiterated this and added that she was unable to modify them "as per my whims".   According to Mr. Somanathan, the distribution of funds for the center's sponsored schemes is also based on predetermined percentages: 60-40 for "mainstream" states and 90-10 for northeastern or hill states.   We disburse money in percentages, so long as the prior installment was used, the funds will be disbursed. Thus, I can state unequivocally that the Finance Ministry is nondiscriminatory. I am unable to comment on the complaints that some states may have regarding the Finance Commission's percentages.However, we have followed the Finance Commission's recommendations exactly," Mr. Somanathan stated.   In response to a query regarding the conflict between the center and the ruling Trinamool Congress of Bengal—wherein Chief Minister Mamata Banerjee staged a protest event last week to demand the state's "dues"—the Finance Secretary informed NDTV that the Prime Minister's Office had emphasized that Bengal receive its fair share.

The Centers interim budget reduces money for education and UGC by 61%.

India's interim budget for education has been cut by 7%, with a 61% reduction in funding for the UGC.In contrast to the revised projection amount for 2023–24, the interim budget announced on Thursday allotted ₹1.2 lakh crore for education, a decline of approximately 7%. However, the University Grants Commission (UGC) had its funding cut by 61%, the biggest reduction in at least five years.The Union government has allocated ₹73,008.10 crore for schools out of the total outlay, a slight rise of 0.73% from the revised estimate for 2023–2024, according to the budget paper. Higher education has been allocated ₹47,619.77 crore, a severe decrease of ₹9,600 crore (16.8%).The Union Ministry of Education, however, asserted that a 19.5% increase in the budget for school education was necessary because the finance ministry's budget paper did not match the overall updated estimate."It now includes the updated figures that were previously referenced in the budget document. But it ought to be computed without it, according to a senior government official.At the time this report was submitted, the budget paper had not been altered.Union Finance Minister Nirmala Sitharaman emphasized during her budget speech that the National Education Policy (NEP) 2020 will be used by the Bharatiya Janata Party (BJP) government to transform education. She also stated that the focus will be on empowering the "Amrit Peedhi," or the generation that will grow during Amrit Kaal, or the 25 years leading up to 2047.The youth's proper empowerment and education are essential to our prosperity. Revolutionary changes are being ushered in by the National Education Policy 2020. In a 58-minute lecture, she stated, "PM Schools for Rising India (PM-SHRI) are delivering quality teaching and nurturing holistic and well-rounded individuals."Funding for UGC was, however, drastically reduced. A revised estimate of ₹6,409 crore in 2023–24 was the amount allotted; this was reduced to ₹2,500 crore in 2024–25.Concerns were expressed by experts about the UGC budget cut. Assistant professor Rajesh Jha of Delhi University stated, "Grants was eliminated and reduced to a mere regulatory agency due to the drastic cut in UGC funding." Universities will be further encouraged to launch more self-financed courses as a result, adding to the load already placed on students. Additionally, it will increase institutions' reliance on HEFA (Higher Education Financing Agency) loans.The reduction has occurred at a time when institutions are planning to introduce four-year programs and would require extra funding to accommodate more students at a time, according to Abha Dev Habib, an associate professor of mathematics at Miranda House College of Delhi University. What will the universities do? She said, "The government ought to take this into account. In a statement, UGC Chairperson M Jagadesh Kumar stated that the commission is still dedicated to upholding its primary responsibility of promoting high-quality higher education. "It will persist in collaborating with all relevant parties to guarantee the effective utilization of allotted finances." He expressed confidence that the allocation of resources strategically and the transformative vision of NEP 2020 will result in the establishment of a learner-centric higher education system in India.  

Women Personnel Being Appointed As Onboard Warships: Centre In Lok Sabha

New Delhi: Women personnel are being appointed onboard warships and also as special naval air operation officers in the Indian Navy, the government said in Lok Sabha on Friday.Minister of State for Defence Ajay Bhatt said permanent commission is being granted to women officers in 12 arms and services of the Army in addition to the medical and dental corps as well as military nursing service.He was replying to a question on the strength of women in the armed forces.Bhatt said the experimental scheme to induct women officers in all combat roles initiated by the Indian Air Force in 2015 was regularised in 2022 into a permanent one."Women officers are being appointed onboard warships in afloat billets and also as Special Naval Air Operation (NAO) officers in the Indian Navy," he said without elaborating. On various measures to boost India's defence manufacturing, he said a 'green channel policy' for procurement of military stores and spares has been launched for awarding 'green channel' status to firms having predefined financial and quality credentials.Bhatt was highlighting various action plans that the government has rolled out to strengthen the country's defence ecosystem."A green channel policy for procurement of defence stores and spares has been launched for awarding green channel status to firms having predefined financial and quality credentials," he said."Grant of green channel certificate provides waiver of pre-dispatch inspection and acceptance of stores under supplier's guarantee/warranty against the contracts concluded by various procurement agencies under the Ministry of Defence," he said. The minister said two defence industrial corridors -- one in Uttar Pradesh and another in Tamil Nadu -- have been set up to attract investment for defence industries and develop domestic supply chains.He said a defence testing infrastructure scheme has been launched to boost domestic defence and aerospace manufacturing with primary aim to set up greenfield defence testing infrastructure as a common test facility The minister also noted that the defence public sector undertakings are having tie-“ups with various centres of excellence and academic institutes like IITs and IIMs for various developmental projects.    

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"Please Go Away," Mani Shankar Aiyars Daughter Was Told Following Ram Temple Post

A notice to vacate their Jangpura, Delhi, home was sent to Congress leader Mani Shankar Aiyar and his daughter Suranya Aiyar due to a social media post they made criticizing the Ayodhya Ram Temple consecration ceremony on January 22. The notice, which was sent by the Resident's Welfare Association (RWA), begs them to refrain from going on rants that might upset other residents' religious sentiments or disturb the peace. "We do not appreciate a resident rant which may disturb the peace in the colony or hurt religious sentiments of the residents," the notice stated.  "In case you think what you have done in protesting against the consecration of Ram mandir at Ayodhya, we would suggest you to kindly move out to another colony where people can turn blind eye to such hatred," it continued.  On January 20, Suranya Aiyar wrote on Facebook that she was fasting in opposition to the Ram Mandir's "Pran Pratishtha" ceremony. According to her, the fast is a way for Muslims to show their love and grief for one another.   In its reply, RWA stated, "What Ms Aiyar said through social media was unbecoming of an educated person, who should have understood that the Ram Mandir was being built after 500 years and that too after 5-0 Supreme Court verdict." You may use the pretext of "freedom of speech," but keep in mind that the Supreme Court of India has ruled that this protection is not unqualified."   It is requested that Mr. Aiyar either reject his daughter's post or vacate the residence.   The group pleaded with the Aiyars not to incite animosity and mistrust among the populace.   "You may engage in any political activity for the benefit of your nation, but keep in mind that your words and deeds matter and can either enhance or diminish the colony's reputation. Consequently, we kindly ask that you abstain from making such posts or comments," the notification stated.

Arvind Kejriwal Ignores Fifth Summons, Alleges AAP Arresting Them

Arvind Kejriwal, the chief minister of Delhi, announced today that he will not be appearing for questioning in the Delhi liquor policy case. Kejriwal had been called for the fifth time by the Enforcement Directorate. He was summoned to the investigation agency's Delhi headquarters today to appear before it. This comes after Arvind Kejriwal declined to be questioned on January 19, claiming that the ED's summons was unlawful and that its sole purpose was to arrest him. The leader of the Aam Aadmi Party (AAP), Mr. Kejriwal, had previously declined to come before the investigation team on three separate summonses for November 2, December 21, and January 3.The agency's actions have been denounced by the AAP as "unlawful" and "politically motivated". The agency's actions have been denounced by the AAP as "unlawful" and "politically motivated". Arvind Kejriwal's arrest is part of PM Modi's plan to overthrow the Delhi government. We refuse to let this occur," the party declared in a statement.    The Central Bureau of Investigation (CBI) had questioned the AAP chief in April regarding the case, but the organization had not yet accused him.There has been a great deal of conjecture that the Enforcement Directorate would arrest the chief minister of Delhi following his interrogation ever since the agency sent out its first summons. With Manish Sisodia, Sanjay Singh, and Satyendra Jain, three of its leaders, incarcerated, the AAP has long been prepared for this possibility and has deliberated over potential next steps. They even want Mr. Kejriwal to continue serving as Chief Minister while incarcerated.According to the CBI, liquor companies were involved in the formulation of the excise policy, which would have resulted in a profit margin of 12%. It called the liquor lobby the "South Group" because it had paid kickbacks, some of which went to government employees. The kickbacks were purportedly laundered by the Enforcement Directorate.   The AAP allegedly used the money from the purported scam to finance its extensive campaign in Gujarat, where it garnered 12.91 percent of the vote and made a name for itself as a national party, according to the BJP.  

‘Bandh Karo’ slogan raised as IndiGo cancels Delhi to Deoghar flight. Watch

After IndiGo canceled a Delhi-Deoghar flight owing to bad weather, a number of enraged customers rallied inside the Delhi airport and chanted anti-airline slogans. The event took place on January 30. Travellers protested the airline’s decision to cancel a flight by congregating in front of the boarding gates in front of security guards.“Indigo flight 6E 2198 from Delhi to Deogarh was cancelled on Jan 30 and Jan 31, 2024 due to sudden drop in weather conditions around the airport in Deogarh. Passengers were served with refreshments and options to avail a full refund, alternate sectors or rescheduling,” stated the airline. “We regret the inconvenience caused due to factors beyond the airline’s control,” further mentioned the statement. “Why only Indigo has weather issues? As expected,” furiously commented users on the viral post. This is not the first instance; the airline has been under fire lately for poor customer service. On January 13, due to severe weather in Guwahati, IndiGo flight 5319 from Mumbai to Guwahati was rerouted to Dhaka, Bangladesh and an alternative crew was scheduled to handle the Dhaka – Guwahati flight due to operational considerations.Meanwhile, because of the heavy fog and poor visibility at the Delhi airport on January 30, Indigo airline had to cancel and postpone a number of flights. Indigo advised a notice on X (previously Twitter) that sated, “Due to forecasted bad weather, flight operations in Delhi, Srinagar and Chandigarh are likely to be impacted. Please keep a check on your flight status before leaving for the airport.”    

Sitharaman announces slew of measures to propel India’s ‘nari-shakti’

Finance Minister Nirmala Sitharaman on Thursday announced that the Modi government would be increasing the target of women beneficiaries under its Lakhpati Didi Scheme to three crore women from two crore."83 lakh Self Help Groups with nine crore women are transforming the rural socioeconomic landscape, and have assisted nearly one crore women in becoming lakhpati didis already," Sitharaman said while presenting the interim Budget for the next fiscal year starting April 1, 2024."Female enrolment in higher education is up by 28% in 10 years, in STEM courses, girls and women make up 43% of enrolment, one of the highest in the world. All these steps are reflected in the increasing participation of women in the workforce. Making triple talaq illegal, reservation of 1/3 seats for women in Parliament and state assemblies, over 70 % houses under PM Awas Yojana to women have increased their dignity," the Finance Minister said."I applaud the ease of securing a 34 crore loan for entrepreneurs. The 43% women enrollment in STEM courses and Allocating 1/3 seats in government reflects a commitment to equal representation. Women setting up their businesses will lead to job creation for the same gender and recent studies have shown that empowering women economically leads to increased GDP and poverty reduction, benefiting families and communities. Overcoming various challenges and barriers as a woman entrepreneur in India is not an easy feat and with encouragement from the government, this will provide a boost, especially to those from economically weaker backgrounds. Increased women entrepreneurship is also a step towards global collaborations and will provide India with an additional platform to expand networks and access global markets," said Pallavi Singh Marwah, senior VP of SPPL.“Our government will encourage vaccination for girls in the age group of 9 to 14 years for providing prevention of cervical cancer,” she said.In the previous budget, Sitharaman emphasised on the economic empowerment of women, envisioning the transformation of Self-Help Groups (SHGs) into viable income-generating producer organizations and sustainable women enterprises. The budget announced help with supply of raw materials and for better design, quality, branding and marketing of their products, to enable them scale up their operations to serve the large consumer markets, as has been the case with several start-ups growing into unicor.    

FM Nirmala Sithraman keeps tax slabs unchanged

As expected and in relief for the citizens, the central government neither tweaked nor put any additional tax burden on citizens, in the interim Budget for 2024-25 tabled by Union Finance Minister Nirmala Sitharaman. "Keeping with the convention, I do not propose to make any changes relating to taxation and propose to retain the same tax rates for direct taxes and indirect taxes including import duties," Sitharaman said in her Budget speech on Thursday. However, certain tax benefits to start-ups and investments made by sovereign wealth or pension funds as well as tax exemption on certain income of some IFSC units are expiring in March 2024. To provide continuity in taxation, she proposed to extend the date by another year.Moreover, in line with the government's vision to improve ease of living and ease of doing business, she announced to improve tax-payer services. "There are a large number of petty, non-verified, non-reconciled or disputed direct tax demands, many of them dating as far back as the year 1962, which continue to remain on the books, causing anxiety to honest tax-payers and hindering refunds of subsequent years," she said.She proposed to withdraw such outstanding direct tax demands up to Rs 25,000 for the period up to financial year 2009-10 and up to Rs 10,000 for financial years 2010-11 to 2014-15. "This is expected to benefit about a crore tax-payers," she added.Presenting the Union Budget 2023, Sitharaman on Thursday pegged the fiscal deficit target for 2024-25 at 5.1% of gross domestic product (GDP). In 2023-24, the government pegged the fiscal deficit target for 2023-24 at 5.9% of gross domestic product (GDP). Today, Sitharaman said that the fiscal deficit of 2023-24 was downwardly revised to 5.8%. The difference between total revenue and total expenditure of the government is termed as fiscal deficit. It is an indication of the total borrowings that may be needed by the government.The government intends to bring the fiscal deficit below 4.5% of GDP by the financial year 2025-26.The government intends to bring the fiscal deficit below 4.5% of GDP by the financial year 2025-26. A capital expenditure,or capex, is used to set up long-term physical or fixed assets.  

The defense budget for 2024–2025 is estimated to be ₹ 6.21 lakh crore in the interim budget.

The government on Thursday unveiled an ambitious plan for "deep-tech" technologies in the military sphere and modestly raised the defense budget from ₹ 5.94 lakh crore to ₹ 6.21 lakh crore for 2024–2025.  A sum of ₹ 1.72 lakh crore was allocated to the military for capital expenditures, which primarily comprise the acquisition of new weaponry, aircraft, warships, and other military hardware, in the interim Union budget that Finance Minister Nirmala Sitharaman presented in Parliament. The budgetary allotment for capital expenditure in 2023–2024 was ₹ 1.62 lakh crore.The finance minister also announced that a new scheme will be launched for strengthening deep-tech technologies for defence purposes and to expedite 'atmanirbharta' or self-reliance in the area.The Ministry of Defence (Civil) will receive ₹ 15,322 crore, the defense services will receive ₹ 2,82,772 crore, and defense pensions will receive ₹ 1,41,205 crore. The total revenue expenditure has been estimated at ₹ 4,39,300 crore. Amounts ₹ 40,777 crore and ₹ 62,343 crore, respectively, have been set aside for aircraft and aero engines and "other equipment" in the capital outlay for defence services. ₹ 23,800 crore has been allocated for the naval fleet, while ₹ 6,830 crore is for projects involving naval dockyards. The Indian Air Force incurred the largest capital outlay of ₹ 57,137.09 crore in the budget for 2023–24. This amount comprised ₹ 15,721 crore for the purchase of aircraft and aero engines and ₹ 36,223.13 crore for other equipment. For 2024–2025, the Army's revenue expenditure is estimated to be ₹ 1,92,680 crore, while the Navy and Indian Air Force will receive ₹ 32,778 crore and ₹ 46,223 crore, respectively.The overall defense budget allocation, according to Dr. Laxman Kumar Behera, Associate Professor at the Jawaharlal Nehru University's Special Centre for National Security Studies, is modest overall and reflects the government's priorities for the military.   "The allocations did not show any lack of commitment to the armed forces," he stated to PTI.Additionally, Dr. Behera characterized the ₹ 10,000 crore increase in capital expenditure outlay as a "healthy sign".         

The last budget before the polls had the slogan "Developed India By 2047" and no tax changes.

Delhi, New: Union Finance Minister Nirmala Sitharaman stated on Thursday morning during the reading of a statement of the nation's finances in a special session of Parliament that there will be no changes to the income tax slabs, which have been lowered and rationalized, in the 2024 interim Budget. "I propose to retain the same tax rates for direct and indirect taxes, including import duties," said Ms. Sitharaman. Nonetheless, she suggested that unpaid direct tax demands of up to ₹ 25,000 until FY09/10 and up to ₹ 10,000 for FY10/11 to FY14/15 be withdrawn, claiming that this would help approximately one crore taxpayers. Ms. Sitharaman commented, "... there are a lot of small-scale, unverified, unreconciled, or contested direct tax demands, many of which date back to 1962, which are still on the books, worrying honest taxpayers... I would like to remove these unfulfilled direct tax demands."Regarding the overall tax situation, the Finance Minister reported that over the previous ten years, direct collections had more than tripled and that the number of individuals filing returns had increased by 2.4 times. Given that this is an interim budget, intended primarily to fund government operations until a new administration is elected and assumes power later this year, the suspension of tax slab revisions was not surprising.

Champai Soren meets with the governor, saying, "No Government In Jharkhand For 18 Hours"

"There is no government in Jharkhand for 18 hours now and a situation of confusion has emerged, Chief Minister-in-waiting Champai Soren has told Governor CP Radhakrishnan, urging him to take immediate steps for government formation. Along with five other MLAs from the JMM, Congress, and RJD alliance, Mr. Soren met with the governor this evening.  Mr Soren was yesterday chosen the legislative party leader of Jharkhand Mukti Morcha (JMM) after Hemant Soren stepped down as the Chief Minister and was arrested by the Enforcement Directorate in a corruption case.Champai Soren wrote to the Governor stating that he had sent a letter of support, signed by 47 MLAs from JMM, Congress, and RJD, to the Governor yesterday. This number is greater than the majority of the 81-member Assembly. The MLAs had accompanied him to the Raj Bhavan, he continued, but they were not permitted inside.""Sir, the state has been without a government for the past eighteen hours. There is a state of uncertainty. As the head of state constitutionally, we, the MLAs, and the people of the state expect you to take prompt action to clear the air and establish a popular government to bring the state out of disarray ""in Hindi, he wrote. order to reassure the governor that he has the support of the majority, Champai Soren continued, he could bring all of the MLAs who are in his corner to his home. Hemant Soren is under investigation in relation to a rumored mafia scheme in Jharkhand involving the unlawful transfer of land ownership.     "  

The government names one part-time and three full-time members for the 16th Finance Commission.

Soumya Kanti Ghosh, the group chief economic advisor of State Bank of India (SBI), has been selected as a part-time member.New Delhi: The finance ministry announced in a statement on Wednesday that the government has appointed three full-time and one part-time member to the Sixteenth Finance Commission (16th FC).According to the statement, the commission's full-time members are Niranjan Rajadhyaksha, executive director of Artha Global, former special secretary for expenditures and member of the 15th Finance Commission Ajay Narayan Jha.It further stated that Soumya Kanti Ghosh, the group chief economic advisor for State Bank of India (SBI), has been selected as a part-time member.According to the announcement, "it has been requested that the Sixteenth Finance Commission make its recommendations available by October 31, 2025, covering an award period of 5 years commencing 1st April, 2026."In order to propose a devolution formula for tax income between the Center and states, the government last month named Arvind Panagariya, a professor at Columbia University and former vice-chairman of NITI Aayog, as the 16th chairman of the Federal Communications Commission (FC).The government announced the terms of reference (ToR) for the 16th commission on November 29. In addition to reviewing the current arrangements for financing disaster management initiatives, the ToR asked the body to recommend ways to augment state resources for local bodies. Panagariya's appointment order was issued approximately one month later. Ritvik R. Pandey, a joint secretary in the Department of Revenue and an AS officer from the 1998 batch, was assigned as an officer on special duty for the 16th Finance Commission's advance cell on November 6th, with the rank and compensation of an extra secretary."The allocation between the States of the respective shares of such proceeds and the distribution between the Union and the States of the net proceeds of taxes which are to be, or may be, divided between them under Chapter I, Part XII of the Constitution," stated the original set of rules for the commission.The second ToR states, "The principles which should govern the grants-in-aid of the revenues of the States out of the Consolidated Fund of India and the sums to be paid to the States by way of grants-in-aid of their revenues under article 275 of the Constitution for the purposes other than those specified in the provisos to clause (1) of that article."The third treaty on resources (ToR) deals with the actions required to increase a state's consolidated fund in order to augment the resources of municipalities and panchayats, based on the recommendations of the corresponding state finance commissions.According to the statement, the 16th FC may examine current arrangements for funding disaster management activities while taking into account the funds established under the Disaster Management Act and offer pertinent recommendations.