In Lok Sabha, Yogi Adityanath takes a dig at Rahul-Akhilesh partnership

NEW DELHI: Uttar Pradesh chief minister+ Yogi Adityanath today took a dig at Congress vice-president Rahul Gandhi and Samajwadi Party (SP) president Akhilesh Yadav, whose alliance+ the BJP defeated+ by a handsome margin in the state assembly election.

"I'm one year younger than Rahul ji and an year older than Akhilesh ji. The fact that I could come in between their partnership may be the reason for your (SP-Congress alliance) failure," Adityanath jibed.

His teasing remark, which earned a round of laughs and sent the opposition into a tizzy, was preceded by an attack on the former Samajwadi Party government for not utilizing the funds channeled to it by the Centre.

"Over the last two and a half years, the Central government allocated 2.5 lakh crore rupees to UP. But the state government utilized only Rs 78,000 crore. This was because they did not have a proper model for the state's development," he charged.

In his final address to the Lok Sabha, the newly-coronated UP chief minister hailed Prime Minister Narendra Modi's policy of inclusive growth for turning the country's economy around,

"In the last three years, the development schemes and programmes implemented by this government are being viewed as an ideal model in the country and the world over... PM Modi is being hailed as a global icon," Adityanath said.
Citing the rise in the country's growth rate, Adityanath also acknowledged finance minister Arun Jaitley's efforts in this regard.

"I thank the finance minister for breathing new life into our country's economy," the UP chief minister said.

The firebrand BJP leader, who is viewed by many as a Hindutva mascot, then touched upon the Prime Minister's 'Sabka saath, sabka vikas' motto to say the BJP-led NDA government had ensured growth and development for all sections of the society.

Source:-Timsofindia
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Demonetisation: PM Modi has created a new normal, will clean and expand economy, says Arun Jaitley

Executive Narendra Modi has made "another typical" of white exchanges with crackdown on dark cash, Finance Minister Arun Jaitley said on Monday, attesting that demonetisation will prompt to a hop in private speculation and more open spending on welfare measures. Tending to BJP parliamentary gathering over the aftermath o the choice, he attacked Rahul Gandhi saying from one perspective the Congress pioneer says the demonetisation choice was specifically spilled to BJP heavy hitters and on the other he guarantees "that even Finance Minister, that implies I, was likewise not mindful".

Talking finally, Jaitley clarified all parts of the move and said, "Demonetisation has coordinate connection with poor with neediness and with destitution easing" and said once the substitution of money achieves a sensible level, th confinements will be facilitated.

Clarifying the feasible positive results of this move, Jaitley said the nation every year acquires Rs 4-5 lakh crore and after this move and these assets can be utilized for open spending for advancement of provincial territories and inspire of poor About Rs 8 lakh crore will be gathered from wage charge this year and Rs 8.5 lakh crore from circuitous duty however despit that another Rs 4-5 lakh crore is required to hold up under costs for running the nation, he said.

"..so if the legit impose paying framework builds up in the nation… then do we have to obtain cash… and in the cas these borrowings of about Rs 4-5 lakh crore every year can be used in country territories for destitution easing and othe comparable measures," Jaitley included.

Source:- Indianexpress

On PM's Orders, BJP Assigns Each Rajya Sabha MP A Constituency Lost In 2014

Senators voted 61-20 to convict the country's first female president for illegally using money from state banks to bankroll public spending, marking the end of 13 years of leftist Workers Party rule.

Rousseff's opponents hailed her removal as paving the way for a change of fortunes for Brazil. Her conservative successor, Michel Temer, the former vice president who has run Brazil since her suspension in May, inherits a bitterly divided nation with voters in no mood for the austerity measures needed to heal public finances.

In his first televised address to the nation after being sworn in as president through 2018, Temer called on Brazilians to unite behind him in working to rescue the economy from a fiscal crisis and over 11 percent unemployment.

"This moment is one of hope and recovery of confidence in Brazil. Uncertainty has ended," Temer said in the speech broadcast after his departure for a G20 summit in China.

Until just a few years ago, Brazil was booming economically and its status was rising on the global stage.

The country then slid into its deepest recession in decades, and a graft scandal at state oil company Petrobras tarnished Rousseff's coalition. Millions took to the streets this year to demand her removal, less than two years after she was re-elected.

A string of corruption scandals, led by the Petrobras scheme, has engulfed vast swaths of Brazil's political class and business elites over the past 2-1/2 years.

New Delhi:  The BJP's 52 lawmakers in the Rajya Sabha or House of Elders don't have constituencies to nurture, but BJP Chief Amit Shah has just found them some. 

In another idea straight out of the Prime Minister Narendra Modi handbook for MPs, Mr Shah has told the Elders that they can no more stay away from the sweat and grime of electoral politics that their colleagues in the Lok Sabha go through to win their seats.

So they too will "work in a constituency" - they will each adopt one constituency that the party lost in 2014, and work to win it in 2019. This includes the 12 BJP members of Rajya Sabha who are ministers, they were informed at a special meeting addressed by the party president.

They will be expected to bolster the efforts of the local BJP candidate and take on the winner from a rival party who won the seat and their performance will be assessed - the results of the 2019 Lok Sabha elections will be considered when they are up for re-nomination to the Rajya Sabha.

"The party president said each member should take up one constituency lost in 2014 and work for the party organisation. They will handle the twin task of expanding the party base and its ideology," said Union Minister Prakash Javadekar.

The lawmakers can spend the Members of Parliament Local Area Development Scheme or MPLADs funds allotted to them in the constituency they adopt. The BJP believes this will optimise use of both human resource and the MP funds.

Lawmakers from both houses get 5 crores as MPLAD funds. While Lok Sabha members are expected to spend this money to develop their parliamentary constituencies, Rajya Sabha members represent entire states and so allocate funds to institutions and other work in those states.  

"The whole exercise is to hold Rajya Sabha members accountable like Lok Sabha members are," said a BJP leader.

PM Modi, who has introduced several novel ways to ensure that party leaders demonstrate work on ground in their constituencies, will also address the MPs.

He had reminded the BJP's Lok Sabha MPs during this month's monsoon session that they had not been filing report cards on work done in constituencies regularly.

Source:-ndtv
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Government May Advance Union Budget By A Month: Report

New Delhi: Union Budget has for decades been presented on last day of February, but this could soon change with the government mulling advancing it to January end so as to complete the budget exercise before the beginning of the new fiscal year.

The Finance Ministry is doing an overhaul of the entire Budget making exercise which may see scrapping of the current practice of presenting a separate budget for Railways and the Budget document getting slimmer with indirect tax proposals finding almost no mention after excise duties, service tax and cesses being subsumed in the Goods and Service Tax (GST) regime.

Also on the anvil is abolition of distinction between Plan and non-Plan expenditure and replacing it with capital and revenue expenditure.

Sources said the government is of the view that the Budget exercise should ideally be over by March 31 every year as against the present practice of it being carried in two phases spread between February and May.

While the Constitution does not mandate any specific date for presentation of the Budget, it is usually presented on last working day of February and the two-stage process of parliamentary approval takes it to mid-May.

As the financial year begins on April 1, the government in March takes Parliament approval for Vote on Account for a sum of money sufficient to meet expenditure on various items for two to three months. Demands and Appropriation Bill, entailing full year expenditure as well as tax changes, is then passed in April/May.

Sources said the Finance Ministry is of the view that if the process is initiated earlier, there would be no need for getting a Vote on Account and a full budget can be approved in one stage process before March 31.

The proposal before the government is to present the Budget in last week of January, preferably on January 31 and ramp up the entire process by March 31, they said.

The Revenue Department is also mulling preponing its pre-Budget meetings with various stakeholders to September instead of holding them in November/December.

Besides the date of presentation of the Budget, the annual financial document for 2017-18 is likely to see another major overhaul with the abolition of 'Plan and non-Plan expenditure' and replacing it with 'capital and revenue expenditure'.

The expenditure department in its pre-budget meetings with various other ministries and government departments will this time around seek for details of their envisaged revenue and capital expenditure from April 2017-March 2018.

"States are being consulted for capital and revenue expenditure classification. An internal group is working on it. This will give the right direction in simplification of accounts and also how we focus on expenditure," another source said.

Finance Minister Arun Jaitley in the Budget speech announced of doing away with Plan and Non-Plan classification from 2017-18, in line with the termination of 12th Five-Year Plan (2012-17).

Also with the roll out of the GST, possibly from April 1 2017, the need for the Union Government to legislate changes in the excise duties, service tax and cesses will cease to exist as they would all be subsumed in the new national sales tax.

The GST rate is to be fixed by the GST Council comprising of union finance minister and representatives of all 29 states.

This would mean that the Part-B of the Budget, which contains tax proposals, would get slimmer with only direct tax proposals being mentioned besides a few other taxes, like Customs, which would continue to be in domain of the Centre even after GST rollout.

GST rollout would also subsume various exemptions and cesses, which would oblivate the need for their presentation in the Budget.

Besides, the 92-year-old practice of presenting a separate Rail Budget is set to come to an end from the next fiscal, as the government proposes to merge it with the General Budget.

With the merger, the issue of raising passenger fares, an unpopular decision, will be the finance minister's call.

The General Budget, referred to as the Annual Financial Statement in Article 112 of the Constitution of India, is presented by the finance minister in Parliament every year on last working day of February.

The Budget, which is presented by means of the Financial Bill and the Appropriation Bill, has to be passed by the house before it can come into effect on April 1.

Until the year 2000, the Budget was announced at 5 pm on last working day of February. This practice was inherited from the pre-Independence era, when the British Parliament would pass the budget in the noon followed by India in the evening on the same day.

In 2001, the NDA government under Atal Bihari Vajpayee changed the ritual and the then Finance Minister Yashwant Sinha presented the Union Budget at 11 a.m.

The government has already set up a committee to examine the feasibility of having a new financial year, replacing the existing April-March period.

The committee, which will submit its report by December, will examine merits and demerits of various dates for commencement of a financial year, including the existing dates (April-March).
Source:-NDTV
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