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.    

"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.

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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.  

Budget 2024 For a few hours of Budget presentation, preparations start 6 months in advance know why

Union Budget 2024: On Thursday, February 1, 2024, Finance Minister Nirmala Sitharaman is scheduled to deliver the Interim Budget 2024. Every budget includes some items that address the needs of various government agencies, states, union territories, and citizens from all walks of life in India. For those in business and the salaried class, it is one of the most anticipated occasions of the year. During their potentially multi-hour speech, the finance minister makes several significant announcements. But it takes six months to develop the budget that is presented in a few hours. Are you aware of the reason? Be aware of thisInterim Budget 2024: What can we expect when Finance Minister Nirmala Sitharaman presents the Interim Budget 2024 on February 1, 2024? A member of the salaried class for tax breaks; an entrepreneur for programs that support entrepreneurs; an experienced businessman for regulations that can protect their company or boost their earnings.For this reason, most Indians pay attention to the significant statements made by the finance minister during their annual speech. These announcements contained in the budget speech could be made in a few minutes or several hours. However, the preparation time for a speech that lasts only a few hours is about six months.Interim Budget 2024: On February 1 at 11 a.m., Union Finance Minister Nirmala Sitharaman is scheduled to read the Interim Budget 2024 in the Parliament. The Interim Budget, which will implement the major decisions taken by the Center, is the focus of attention. Prior to the Lok Sabha elections, the departing government presents the interim budget during the budget session. After winning the Lok Sabha elections, the newly formed government then presents the comprehensive budget.In addition to discussing the government's accomplishments since 2014, FM Sitharaman's Interim Budget is anticipated to look ahead to Amrit Kaal in 2047. Similar to the previous interim budget, the Budget 2024 paper is anticipated to provide historical context, assess the current situation, and outline plans for the future. A summary of the government's anticipated revenue and outlays through the formation of the next government is the primary purpose of the interim budget. A comprehensive budget, on the other hand, addresses every facet of government funding, including receipts and outlays as well as allocations and policy declarations. A full-year budget outlines the nation's economic course for the whole fiscal year and acts as a strategic plan. The financial data for the transitional phase is provided by the interim budget.The timeline for presenting an interim budget is identical to that of the Union budget during a regular fiscal year. The Interim Budget has grown in importance for the ruling administrations in recent years as a tactical instrument for national elections. It enables them to outline the ruling party's economic strategy and provide justification for reelection.Some significant modifications were announced by former FM Piyush Goyal in the most recent interim budget: > Earnings up to Rs 5 lakh are exempt from income tax; individuals with gross incomes up to Rs 6.5 lakh are exempt from paying taxes if they invest in authorized stocks and provident funds. The TDS level on interest on bank and post office deposits was raised from Rs 10,000 to Rs 40,000. The TDS barrier on rental income was increased from Rs 1.8 lakh to Rs 2.4 lakh. The standard tax deduction for salaried individuals was raised from Rs 40,000 to Rs 50,000. I-T will process returns in a day.> In the following two years, all tax return verification will be completed electronically without involving the taxpayer. a bundle of Rs.The 74-page report, "The Indian Economy: A Review," authored by Chief Economic Advisor V Anantha Nageswaran, was delivered by the NDA administration this year. It provided an assessment of India's economy and outlined difficulties for the upcoming fiscal year. "This is not the Department of Economic Affairs' Economic Survey of India. Following the general elections, it will take precedence over the entire budget. The paper titled "Indian Economy–A Review" stated, "This review offers a brief sketch of the outlook for the economy in the coming years and takes stock of the state of the Indian economy and its journey over the last ten years." Following the presentation of the Interim Budget, a vote-on-account is held by the Parliament. This clause enables the government to secure parliamentaryA complete budget and an interim budget are comparable. One significant distinction is that it covers forecasts for a shorter time frame instead of the whole fiscal year. Without requiring a formal discussion, Parliament can pass a vote-on-account that just addresses spending.  

Sakshi Malik, a wrestler, claims that the chief of false titles is suspended. The ministry of sports issues a legal notice.

Malik appealed to the sports ministry about the situation, questioning how a federation member who was suspended could embezzle money from the WFI.Olympic wrestler Sakshi Malik accused the suspended chairman of the wrestling federation of India (WFI), Sanjay Singh, on Tuesday of organizing championships and giving phony certificates, a month after the Central government suspended the WFI panel.Malik appealed to the sports ministry about the situation, questioning how a federation member who was suspended could embezzle money from the WFI. She said that athletes would run into problems if they presented phony credentials."The National Wrestling Championship is being run by Sanjay Singh, an associate of Brij Bhushan, as per his wish and he is giving fake certificates to the players, which is illegal," Malik said in a post on X, the previous Twitter platform.She continued by saying that the Sports Ministry was planning to host the national wrestling championship in Jaipur and that Singh was staging a phony tournament in order to "assert his dominance.""To demonstrate his superiority in wrestling, Sanjay Singh is forging and distributing fake certificates of several national championships before of the Sports Ministry's scheduled wrestling national championship in Jaipur. How is it possible for an individual under suspension from the organization to embezzle its funds?Malik went on to say that these certificates can result in the players being punished. "Action will be taken against the poor players when they go tomorrow to ask for jobs with these certificates." However, the players are not at fault.She urged Anurag Thakur, the minister of sports, to investigate the matter. "Sanjay Singh should be held accountable right away for his fraudulent actions, as he continues to conduct fraudulent acts even after his activities have been prohibited. Malik stated, "I beg the Sports Minister, Shri Anurag Thakur ji, to look into this matter and prevent the players' futures from being spoiled."Malik included an image of the purportedly fraudulent credentials being given to athletes in the article. Sanjay Singh received a severe warning from the Sports Ministry about possible legal consequences. Singh recently made "baseless and mischievous" comments about the government's recognition of WFI, to which this is in reaction. The ministry made it clear that any competition run by the WFI would not be accepted as "sanctioned."According to PTI, Singh had previously declared that almost 700 wrestlers would compete in the Senior National Championship, which would take place in Pune from January 29 to January 31.The ministry wrote to Singh, stating, "Again, you are making completely baseless and mischievous claims regarding the recognition of the Executive Committee of the WFI that is currently under suspension and about the competitions that you are holding in Pune."  

Nitishs Return to NDA: Its Wrong to Conclude a Cakewalk for the BJP in Bihar

“The BJP, of course, has got psychological advantage by bringing the Bihar CM and Janata Dal (United) president from the INDIA bloc, of which he was the architect. But there is a palpable anger among the people against Nitish. The BJP will have to pay the price for accepting him back to its fold,” the election strategist turned activist, Prashant Kishor said.Kishore predicted, “Irrespective of whatever alliance Nitish contests with, his party won’t be able to win more than 20 seats in the assembly polls.” Kishore, who is on his Jan Suraj padyatra in north Bihar’s Begusarai district these days, has been advancing this argument in his speeches as well as his interviews with the media. The widely held ‘assumption’ that the BJP’s victory is a “done deal” particularly after Nitish jumping to its side has subsumed the likely troubles that the Hindutva party might face in the run-up to the Lok Sabha elections, expected in April-May, this year.The first and foremost trouble which the BJP is all set to face is over sharing of seats. Nitish’s JDU and the Lok Janshakti Party (LJP) of Ram Vilas Paswan (alive then) were the part of the BJP led National Democratic Alliance (NDA) in 2019. The BJP and the JDU had shared 17 seats each, sparing six seats for the LJP. The NDA had won 39 seats—BJP-17, JDU-16 and LJP-6. Now, besides Nitish’s JDU, the BJP has Upendra Kushwaha’s Rashtriya Lok Samata Party (RLSP), Jitan Ram Manjhi’s Hindustani Aawam Morcha – Secular (HAMS), Chirag Paswan’s LJP and his uncle Pashupatinath Paras’s Rashtriya Lok Janshakti Party (RLJP) are in the NDA. Creating a buzz in the name of Ram temple and around Prime Minister Narendra Modi’s ‘persona’, the BJP cadres are clamouring for more seats than what they had contested in Bihar in 2019. The RLSP, the HAMS, the LJP and the RLJP, which have been with the BJP from before Nitish’s JDU has joined it, are, obviously, expecting their share of seats. There are only 40 seats in the state to share with. How many seats the BJP will keep in its share and how much will it spare for its five other partners? Needless to say that there is an apparent disquiet in the camps of these parties on Nitish’s return in the NDA; their lack of enthusiasm was obvious at Nitish’s ninth swearing-in as the CM at Patna’s Raj Bhavan on Saturday-January 28.       

Global Corruption Index 2023: India Ranks 93rd Out of 180 Countries, Was 85th in 2022

The index comes at a time when the Union government run by the Bharatiya Janata Party is targeting only opposition leaders through its investigating agencies – ostensibly to weaken their public appeal before the crucial 2024 general elections and project the INDIA alliance as corrupt.Significantly, of India’s 28 states, BJP and its allies were in power in 17 in 2023. As per the country-wise corruption perception index (CPI) of the report put together by Transparency International (TI), a noted platform that works in over a hundred countries to fight corruption and promote transparency in public life, India has slipped from 85th position in 2022 to 93rd in 2023. In all, TI ranks 180 countries in terms of their perceived levels of public sector corruption in a scale of 0 to 100; the perceived levels are drawn from consultations with experts and people in business in the respective countries. Those closer to the scale of 100 are perceived to be highly corrupt. While India stands at 93, the country’s overall score for 2023 stands at 39, one point lower than 2022. About India, the TI report states, “India (39) shows score fluctuations small enough that no firm conclusions can be drawn on any significant change. However, ahead of the elections, India sees further narrowing of civic space, including through the passage of a bill that could be a ‘grave threat to fundamental rights’.”Among India’s neighbours, China is shown at a score of 42 (against India’s 39) but the report cautions that the country’s heavy reliance on punishment rather than institutional checks on power raises doubts over the long-term effectiveness” of its anti-corruption measures. China, which has been grabbing headlines for cracking down on corruption, has punished over 3.7 million public officials in the last 10 years.    

Nasscom wants government to let overseas Indian startups list directly

India-focused startups incorporated overseas should be able to list on the domestic stock exchanges within the existing externalised structures, Indian industry body National Association of Software and Service Companies (Nasscom) has suggested as part of its Union Budget 2024-25 recommendations.Out of 139 startups who participated in a survey conducted by Nasscom, approximately 16.5% of Indian-origin startups have externalised legal structures and would consider raising equity capital through public listing in India if the regulations are amended to allow for a direct listing, it said.Out of 139 startups who participated in a survey conducted by Nasscom, approximately 16.5% of Indian-origin startups have externalised legal structures and would consider raising equity capital through public listing in India if the regulations are amended to allow for a direct listing, it said.India-focused startups incorporated overseas should be able to list on the domestic stock exchanges within the existing externalised structures, Indian industry body National Association of Software and Service Companies (Nasscom) has suggested as part of its Union Budget 2024-25 recommendations. Previously, the industry body had reached out to the markets regulator Securities and Exchange Board of India (Sebi) and the finance ministry seeking a viable framework for such listing. This is the first time it has been part of the Budget suggestions, said Ashish Aggarwal, head of public policy, Nasscom.Existing rules permit only domestically incorporated firms from listing in India. The move could pave the way for reducing considerable tax liabilities for both the company and its investors in the event of ‘reverse flipping’ or moving registration to India.For the Budget, it has recommended to “set up an expert task force, with participation from the relevant government departments, regulators, industry representatives and legal experts, to recommend a comprehensive set of measures to make direct listing an attractive option for Indian origin foreign start-ups to consider.”    

Confident new Parliament building will have productive dialogues, says President Murmu 

“We anticipate the Interim Budget 2024 to align with the government’s mission of uplifting the underprivileged and urge the government to introduce beneficiary schemes, especially as the General Sabha election approaches, focusing on the socio-economic empowerment of the marginalised.”“We hope for policies supporting our growth, particularly in Tier 2, 3, and 4 cities, aiming to integrate rural communities into the formal banking system.Incentivising FinTech dedicated to empowering SMEs through financial and technical interventions would mark a significant stride. Addressing loan disbursement including loans against gold/jewellery, we recommend regulations fostering collaboration between traditional banks and digital lenders for accessible loans,” Anuj Arora, Co-founder & COO, SahiBandhu Gold Loans said.“As we approach Budget 2024, we anticipate a continued focus on advancing India’s digital public infrastructure, a key pillar for realising the $5 trillion economy dream. I look forward to enhanced government initiatives fostering financial inclusion benefiting ‘Bharat’, not just India,” said Sarvjeet Virk, Co-founder & MD, Finvasia. “On the tech front, I hope to see further progress in establishing AI Centres of Excellence. I also expect more policies to enable public-private partnership to boost end-use-cases of generative and predictive AI and increase its adoption in India. The fintech industry, as usual, will be the flag bearer of innovation,” Virk added. “The landscape of online new car sales has experienced a substantial surge over the past 4-5 years, driven by an increasing preference for consumers buying cars digitally. We are expecting some key developments from the budget like a reduction in the GST rate that will support home-grown players in investing in newer technologies for enhanced mobility offerings on a global scale. Then, re-evaluation of the import structure for electric vehicles is also sought to address disparities in GST rates, providing a much-needed boost to the start-up community through government loans and investments. As an online new car market player, we are closely monitoring these developments, recognizing their potential impact on the electric vehicle market. Our commitment is to adapt our platform to the evolving landscape, ensuring that our customers have access to the latest and most sustainable automobile options. We look forward to the Union Budget introducing measures that not only support the growth of the electric vehicle industry but also contribute to a more sustainable and eco-friendly future,” Gaurav Aggarwal, CEO and Founder, CarLelo, A Capri Loans Venture said.  

Stocks & sectors likely to benefit from 2024 Interim Budget

Companies building roads, ports and airports are on traders’ watchlist as Prime Minister Narendra Modi’s administration is set to present its last budget before the national elections. Shares linked to rural spending and state-owned firms are likely to be a focus area in Finance Minister Nirmala Sitharaman’s budget speech on Thursday, as policymakers seek ways to boost demand in the vast rural hinterland. Development of highways, tunnels and power plants is among the key focus areas for the government, which has more than doubled its capital spending over the last three years. Modi has made infrastructure building a cornerstone of his economic policy, helping India expand faster than any other major economy. The optimism seeped into the nation’s stock markets, which have advanced in all but one year since Modi first came to power in 2014. The enthusiasm has waned a bit this month, with foreign investors taking out more than $2.6 billion from local equities.The Feb. 1 budget is an interim one until a new administration takes office. It will still be keenly followed as the proposals would provide an indication on the government’s assessment of the economy, with Modi widely expected to win a third term in the elections due around April-May.