"Arun Jaitley’s budget speech was the longest, at least in recent memory. But then it was the first major policy statement of Modi government and the finance minister had to showcase its economic vision address expectations of various electoral constituencies which voted for the new regime. Economics aside, the budget had one other key element, i.e. cultural nationalism.
"Finance Minister Arun Jaitley has set aside Rs. 200 crores in Budget 2014 for a giant statue of Sardar Vallabhbhai Patel in Prime Minister Narendra Modi's home state Gujarat. That is more than the new government's allocation for women's safety - Rs. 150 crore for the safety of women in cities and Rs. 50 crore for their safety on public transport. Rs. 100 crore has been set aside for the "Beti Bachao, Beti Padhao" scheme for the girl child.
"The government will seek to raise up to a record $11.7 billion in asset sales in its maiden budget this week, a senior government source said, bolstering state finances and buying time for structural reforms to revive a weak economy. The privatisation target could reach 700 billion rupees, almost equal to all proceeds over the last four years, in a budget Prime Minister Narendra Modi hopes will launch the growth and jobs agenda that in May won him India's biggest election mandate in three decades. The budget is due on Thursday.
' Narendra Modi’s barbs at the UPA government in the last one year and his poll-time rhetoric have become the core of the Congress’ ammunition to take him on. The party on Monday hurled back at Prime Minister Modi some of his statements attacking the UPA in the context of price rise and Chinese incursion into Indian territory in Ladakh.
"...The [IB] report itself is shoddy enough. It takes note of the fact that a little over Rs 11,500 crore of foreign funding had flowed to 13,000 NGOs in 2011-12 but goes on to claim that the foreign-funded NGOs had caused a loss of 2-3 per cent on the country’s GDP, or Rs 2-3 lakh crore. The IB appears to make out a case for GM seeds, the field trials of which were stopped by a parliamentary standing committee and an expert committee set up by the Supreme Court.
'A month after the Narendra Modi-led BJP swept the Lok Sabha polls on the plank of 'Acche Din Aane Wale Hain', a city-based organization has dragged the Prime Minister and the party to court over "broken promises". A PIL has been filed in the Bombay high court by the All India Anti Corruption and Citizens Welfare Core Committee and its founder, advocate M V Holmagi, alleging "criminal breach of trust" by the new government over the increase in the prices of railway tickets and other commodities.
'Attacking the Narendra Modi government over sugar price hike, Congress today said people are wondering whether the promised good days will come only in 2019, when the next Lok Sabhs polls are scheduled.
'India will raise its import duty on sugar to 40 percent from 15 percent, as the government tries to revive business at mills that owe farmers around $1.84 billion, the food minister said on Monday.
The climb in import duty will make overseas purchases nearly unviable for refiners in the world's biggest consumer of the sweetener, hitting shipments from suppliers such as Brazil, Thailand and Pakistan.
"We have reached a consensus to raise the import duty to 40 percent," Ram Vilas Paswan said after meeting senior government officials.
'Two PILs filed in the Bombay High Court have challenged the steep hike in suburban railway fares announced by the Centre last week. Former journalist Ketan Tirodkar has filed one petition while Mumbai Grahak Panchayat, a consumers' organisation, has filed the other...
Tirodkar contended that local trains are the lifeline of the people of the Mumbai metropolitan region as over 70 lakh commuters travel by them every day.
'Union agriculture minister Radha Mohan Singh said the Centre, under no situation would allow the rise in the prices of general commodities to go unchecked and cross the 'Lakshman Rekha (line beyond which lies risky zone)', and at the same time insisted that the state governments should take strict action against hoarders who have been causing food inflation...
