In this issue

February 02, 2023

PLEASE-ALL BUDGE THAT STAYS THE COURSE

Income tax relief timed with polls

4 mins

STOCKS HAMMERED, ADANI CALLS OFF FPO

ADANI Enterprises AEL) late on Wednesday night announced its decision not to go-ahead with its fully subscribed follow-on public offer FPO) for 20,000 crore, a day after it barely managed to sail through.

1 min

₹35,000 cr for net-zero carbon emission target

ONE of the major highlights of Budget 2023-24 was the focus on green energy.

1 min

VB rakes to be made by four railway factories

TO scale up production of Vande Bharat rakes, three coach manufacturing units of the railways the Latur Rail Coach Factory Maharashtra), Raebareli Modern Coach Factory UP) and Sonipat Rail Coach Factory Haryana) will also be engaged apart from ICF in 2023-24, said Railway Minister Ashwini Vaishnaw on Wednesday.

1 min

Govt to spend 784 cr for 5,351 new classrooms in govt schools across TN

CHIEF Minister MK Stalin laid the foundation stone for new classrooms at Katpadi government boys higher secondary school, under the Perasiriyar Anbazhagan School Development Scheme, in Vellore on Wednesday.

1 min

Mom gets interim custody of twins as judge contradicts division bench order

Division bench gave custody of the twins, who are US citizens, to the father residing in the US

2 mins

TN's urban reforms align with Centre's roadmap

C SHIVAKUMAR CHENNAI TAMIL Nadu government has been focusing on urban reforms in the last two years and has been working on land pooling, transferable development rights, creation of new satellite cities, amending the 1971 Town and Country Planning Act and development along Chennai Metro and MRTS corridors.

1 min

Centre seems anxious to provide as much relief as possible to all: OPS

VIEWING the new results based financing” scheme as posing dangers, he said it would be used to deny financial resources rightfully due to the states. He said the scheme should be modified after consultation with the states.

1 min

State likely to play major role in national ereen hydrogen mission

THE Tamil Nadu government is likely to play a major role in the National Green Hydrogen Mission, which will facilitate transition of the Indian economy to low-carbon intensity production methods, reduce dependence on fossil fuel imports, and make the country assume technology and market leadership in this sunrise sector, according to state industries secretary S Krishnan.

1 min

Use of desludgers has not stopped men from entering TN manholes

WHILE Tamil Nadu has been using machinery to clean sewer lines for nearly a decade now, it has not stopped men from getting down into manholes.

1 min

‘Two Leaves’ unsure, but two candidates ready

EPS, OPS declare AIADMk’ candidates for Erode East poll; BJP to take stand after Annamalai meets nat’l leaders

2 mins

‘Will appeal against SC order on purse seine nets’

FisherFolK representatives from across the state resolved to continue their opposition to purse seine fishing nets on Wednesday. at a meeting convened at Tharangambadi, the representatives passed crucial resolutions to fight the supreme Court verdict in favour of allowing the controversial net, pointing to the lack of possibilities in following directions.

1 min

2 die as ready mix concrete truck falls on car in B’luru

A 47-year-old software engineer and her 15-year-old daughter died after the car in which they were travelling was crushed under a ready mix concrete truck in Dabyalamaradadoddi on the Bannerghatta-Kaggalipura Road on Wednesday morning.

1 min

Department of space allocated 12,543 cr, 9% less than last year

ISRO finds no space in union budget, gets least funds in 3 yrs amid big launch plans

1 min

Not abducted, moved out on my own, says Tenkasi woman

DAYS after Kruthika, a woman hailing from Patel community, was dragged away through the ground in Tenkasi by her parents, she clarified in a video that the incident happened as per her wish.

1 min

THE FORCED CAPEX GAMBLE IN BUDGET 2023

A Union budget should typically be an accounting exercise of government revenues and expenditures for the past year and projections for the coming year.

4 mins

PROVING JOHN KENNETH GALBRAITH WRONG

In the wake of the Covid-19 pandemic and the Ukraine-Russia conflict, it’s no secret that maintaining fiscal responsibility is a tall order. But, as John Kenneth Galbraith (economist and 7th US Ambassador to India) once noted, fiscal responsibility is like chastity— easier to profess than practice.

4 mins

NEW TAX REGIME ATTRACTIVE: FM

THE government aims to make the new tax regime - without exemptions attractive enough between the two options for tax filing, Union Finance Minister Nirmala Sitharaman said during the post-Budget presentation conference.

1 min

Fiscal federalism under strain, says Oppn

THE Opposition dismissed the Budget proposals as “anti-people” and mere rhetoric lacking the vision for creating jobs and taming inflation.

2 mins

Cong takes potshots at FM, asks who has benefitted from Budget’

THE Congress on Wednesday attacked the BJP government saying that the Union Budget has betrayed the hopes of a vast majority of people.

2 mins

INDIA PUTS ITS BEST FOOT FORWARD AS RISKS LOOM

THE expectation was for a populist Budget, given that it is the last full-year budget before the elections in 2024. Quite the contrary was what the FM presented.

4 mins

BOOST FOR JOBS AS CAPEX RISES 33%

PRESENTING the last full Budget before the general elections of 2024, Finance Minister Nirmala Sitharaman raised the capital expenditure (capex) by a big 33% to 10 lakh crore for the financial year 2023-24.

1 min

Highest outlay will enable more tourist circuits, corridors

UNION Railway Minister Ashwini Vaishnaw on Wednesday said projects and works would get a major boost with the highest-ever capital outlay of 2.41 lakh crore provided to his ministry for the financial year of 2023-24.

1 min

Mission housing for all: PMAY outlay up 66% to tide over pandemic blues

IN a big boost for the affordable housing segment, Finance Minister Nirmala Sitharaman in her Budget speech announced increasing the allocation made towards the Pradhan Mantri Awas Yojana PMAY) by 66% to 79,000 for the financial year 2023-24.

1 min

INDIA ON CUSP OF GLOBAL HEALTHCARE REVOLUTION

TODAY, we are fortunate to be living in the era of Amrit Kaal” and witness the unique growth and innovation that is enabling India to emerge as the global Healthcare Superpower’ with its triple advantage of cost, quality and scale in providing essential drugs, medical expertise, treatment infrastructure and capacity building to other nations globally.

2 mins

SMALL SAVINGS, BIG IMPACT ON WOMEN’S FINANCES

IN its last full budget of the second term, the Narendra Modi government on Wednesday announced measures aiming at women empowerment, with Mahila Samman Savings Certificate, a one-time small savings scheme, being one of the significant announcements.

2 mins

Boost to PM Shri Schools, libraries as education kitty gets heavier by 8%

THE education budget saw a hike of 8.27%, with an allocation of 1.12 lakh crore against the 1.04 lakh crore allocated in the last Union budget.

1 min

Health gets mere 3% hike, focus on research

THE health budget saw a meagre hike of 3.46%, with a total allotment of 89,155 crore in the Union Budget 2023-24, as against last year’s 86,200 crore budget estimate).

2 mins

A GROWTH-ORIENTED AND PROGRESSIVE BUDGET

Finance Minister Nirmala Sitharaman has presented a powerful Budget for 2023-24. The Budget came at a time of high uncertainty and at the back of a year driven by global headwinds, including the lingering war in Ukraine, the resurgence of Covid-19, slowing global growth and demand, and tight fiscals.

2 mins

Mission mode: Govt to pick 50 destinations to develop as a tour package

FINANCE Minister Nirmala Sitharaman on Wednesday announced that the tourism promotion would be taken on Mission Mode’ in collaboration with states and private stakeholders.

1 min

Environment gets little attention, only 1% rise in allocation

THE Ministry of Environment, Forests and Climate Change MoEFCC) has received little attention in the Budget. There is just one per cent increase in the budgetary allocation compared to last year.

1 min

No cheers: Insurance sector disappointed with proposal to remove tax exemption

INSURANCE sector was disappointed with budget as Finance Minister Nirmala Sitharaman proposed to remove tax exemption for insurance policies with annual premium of over 5 lakh. The frustration was visible in the stock market as shares of insurance company tanked by up to 10 per cent on Wednesday.

1 min

Tax sops for funds relocating to GIFT City

FINANCE Minister Nirmala Sitharaman has announced new initiatives for the GIFT City that will help it to emerge as a leading global financial hub. The budget has proposed extension by two years the sun-set clause granting certain tax exemptions to foreign investment funds that are keen to relocate from overseas to IFSC-GIFT City.

1 min

FINANCIALISATION OF THE ECONOMY

A huge thrust to financialisation of the economy. This is the undercurrent message that stood out in Finance Minister Nirmala Sitharaman’s budget speech.

2 mins

India, US elevate strategic partnership with initiative on emerging technology

INDIA and the United States have elevated their strategic partnership with the launch of the initiative on Critical and Emerging Technology or iCET, the White House said as National Security Advisor Ajit Doval met his US counterpart Jake Sullivan here.

1 min

Haley to launch White House bid

PROMINENT Indian-American Republican Party leader Nikki Haley is poised to launch her 2024 White House bid on February 15 positioning herself to be the first challenger to former US president Donald Trump.

1 min

FBI SEARCHES BIDEN’S HOME FOR SECRET FILES

US law enforcement began a search on Wednesday of President Joe Biden’s beach house in Delaware, his lawyer said, in the latest stage of an operation to track down improperly stored classified documents.

1 min

Half a million UK workers stage walkout demanding higher pay

Unions accuse millionaire Sunak of being out of touch with challenges faced by commoners

1 min

Vihari bats left-handed, helps Andhra reach 379

IN an act of bravery, Andhra skipper Hanuma Vihari batted left-handed and defied the speedy Avesh Khan to add 26 runs for the 10th wicket to help the team reach 379 against Madhya Pradesh on the second day of the Ranji Trophy quarterfinal here on Wednesday.

1 min

RISE IN BUDGET, BOOST FOR ALL

More for Khelo India despite less utilisation of funds last year

2 mins

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