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Thursday, April 02, 2020

Parliament Highlights: Lok Sabha passes the Aadhar Bill; House adjourned

Economic Survey 2019 Highlights: The Economic Survey provides an authoritative, detailed and official annual summary of the current state of play in the Indian economy which will act as a policy guideline to the Union Budget. 

By: Express Web Desk | New Delhi | Updated: July 4, 2019 7:03:33 pm
economic survey, economic survey parliament, economic survey union budget, cea economic survey, economic survey 2019-20, Krishnamurthy Subramanian, nirmala sitharaman, finance minister budget Economic Survey Highlights: Chief Economic Advisor Krishnamurthy Subramanian released his maiden Economic Survey on Thursday in the Parliament

Economic Survey Highlights: A day before the Union Budget, Union Finance Minister Nirmala Sitharaman tabled the Economic Survey in both Houses of Parliament Thursday. The Survey projected the GDP growth for 2019-20 at 7 per cent, up from 6.8 per cent in the previous fiscal. The fiscal deficit estimate for 2018-19 has been retained at 3.4 per cent of the GDP, same as projected in the interim Budget. Prepared by Chief Economic Advisor Krishnamurthy Subramanian, the Survey highlights the challenges in the country and point to possible solutions.

Explained | Why the Economic Survey matters

The annual report of the Indian economy for the year 2018-19 also comes at a time when some critics say the Modi government in its first term delivered a job less growth and it needed to re-invent to propel the economy and create jobs.

Live Blog

The Economic Survey was tabled in Parliament today, a day before Finance Minister Nirmala Sitharaman presents her maiden Union Budget for the year 2019-20. Track here for Highlights | Read in Tamil

Highlights

    18:11 (IST)04 Jul 2019
    Lok Sabha passes the Aaadhaar (Amendment) Bill, 2019

    After passing the Aadhar & Other Laws (Amendment) Bill, 2019, the Lok Sabha has been adjourned for the day until tomorrow morning 11 am. 

    18:03 (IST)04 Jul 2019
    "Don't turn this House into Court, we also have power to overturn judgment"

    Law Minister Ravi Shankar Prasad responding to Opposition's claim that 'Aadhaar is the brainchild of the UPA  government', said, "Adhir Ranjan Chowdhury, it would've been great if Congress would've brought legislation on Aadhaar. We've been trying to bring it since Atal ji's time."

    He also slammed MPs for referring to the Supreme Court judgment to oppose the Aadhaar Amendment Bill and said, "Don't turn this House into a court. We are here to make laws and we also have the power to undo judgment. Please, I would urge don't minimise your power. The people of the country have given you power to frame laws."

    18:00 (IST)04 Jul 2019
    Nirmala Sitharaman with her team ahead of Union Budget being presented tomorrow

    Finance Minister Nirmala Sitaraman with her team ahead of the Union Budget 2019 being presented tomorrow. (Express photo by Renuka Puri)

    17:39 (IST)04 Jul 2019
    "India's data sovereignty needs to be protected fully and categorically, and Aadhaar is clear on that"

    Union Law Minister Ravi Shankar Prasad retaliating to privacy concerns and data theft through the Aadhaar. said, "Aadhaar is voluntary. There is a clear injunction that data or biometrics cannot be stored. Benefits of the scheme will not be denied to someone who does not have an Aadhaar. If Privacy is the question being raised, I want to ask if people of the country are happy, why are some members of the the House unhappy? We have ensured safeguards for the prohibition of data theft, then why is there a protest over the Aadhaar?" 

    17:28 (IST)04 Jul 2019
    Parliament has been given power to frame laws, and we are not violating Supreme Court judgment: Ravi Shankar Prasad on Aadhaar

    Union Law Minister Ravi Shankar Prasad on Aadhaar Amendment Bill 2019: "Narendra Modi government will work on honesty and that is the issue that some people are having right now. An Aadhar card has my name and some important details, but not my race, religion, caste. My biometric details which are in the system cannot be accessed under any provision, and it has been written under the law. People have given us the majority to frame laws, does not mean we are violating the Supreme Court's judgment."

    16:53 (IST)04 Jul 2019
    "Economic Survey has given strategies to fuel economic growth and channelizing savings into investment"
    16:46 (IST)04 Jul 2019
    Offline verification reason for creation of fake Aadhaar cards; bill a clear violation of SC order: Asaduddin Owaisi on Aadhaar Amendment Bill

    AIMIM Chief and Lok Sabha MP Asaduddin Owaisi opposing  the Aadhaar Amendment Bill, 2019, said, "This government does not believe in Jio aur Jeene Do, it only believes in Jio Jio Jio. The Government has so much love for private entitities. Why does the government in Delhi succumb to one man who is sitting in a building in Mumbai? UIDAI can appoint someone who has a conflict of interest. Online-Offline verification is the reason for the creation of fake Aadhaar cards being used as identity proof like in Pathankot attacks. The Bill is unconstitutional and a violation of the Supreme Court's order."

    16:32 (IST)04 Jul 2019
    Economic Survey: Boosting investment key to making India $5 trillion economy by 2025

    The latest annual Economic Survey, the first one to be presented by the Chief Economic Adviser Krishnamurthy V Subramanian, is dedicated to achieving the goal of making India a $5 trillion economy by 2025. For this purpose, the whole document geared towards providing the “strategic blueprint for fructifying this vision”.  Read the Explained story here

    16:15 (IST)04 Jul 2019
    Aadhaar does not provide for cancellation, only for deactivation: Manish Tewari on Aadhaar Amendment Act

    Congress leader and MP, Manish Tewari on Aadhaar Amednment Act Bill, 2019: "Aadhaar was a document to replace multiple identity documents and instead produce one. If a child has the right to cancel his Aadhaar, then why is it not available to an adult? There is a difference between deactivation and cancellation, right now the Aadhaar Act allows only for deactivation if one does not use their Aadhaar number for three years but there is no provision for voluntarily cancelling their Aadhaar."

    16:01 (IST)04 Jul 2019
    There are no growth projections sector wise in the Economic Survey: P Chidambaram

    Former Finance Minister P Chidambaram commenting on the Economic Survey 2019 which was tabled in the Parliament today, said, "The Economic Survey 2018-19 is the first of the new government and the first under the new Finance Minister, Ms Nirmala Sitharaman. The first sentence of Volume-1, Chapter 01 is self-congratulatory (“During the last five years, India’s economy has performed well.”). It appears to me that the government, speaking through the Economic Survey, is pessimistic about the economy. There are no growth projections sector wise. "

    15:40 (IST)04 Jul 2019
    Coordinated efforts, higher budgetary allocation for infra required to promote tourism

    Regarding the growing Tourism sector of the country, the Economic Survey 2018-19 has called for coordinated efforts by government and various stakeholders to promote tourism which has witnessed a slowdown in 2018-19. "The co-ordination mechanism of various like-minded ministries and stakeholders to resolve issues for promotion of tourism in the country needs to be strengthened," the survey said.

    15:34 (IST)04 Jul 2019
    Suggestions of high level group on exports needs to be implemented: Economic Survey

    The Economic Survey 2018-19 called for implementation of recommendations made by a high level advisory group on boosting the country's exports. The high level panel group, chaired by Surjit Bhalla, has recommended a host of measures and a road map for doubling India's exports of goods and services to over USD 1,000 billion by 2025. The key suggestions include lowering effective corporate tax rate, bringing down cost of capital and simplifying regulatory and tax framework for foreign investment funds. (PTI)

    15:29 (IST)04 Jul 2019
    Agriculture, Industry and Services need to step up for India to reach $5 Trillion economy: Suresh Prabhu on Economic Survey

    Former Union Minister Suresh Prabhu asserting confidence in PM Modi's goal of making India a $5Trillion economy soon, said it would be possible if people work in unison.

    15:25 (IST)04 Jul 2019
    Economic Survey calls for redesigning the Minimum Wage System, suggests policy recommendations

    Meanwhile, the Economic Survey has called for redesigning a Minimum Wage System in India for inclusive growth and has suggested policy recommendations for the same. The Survey also stresses on the use of technology for Welfare schemes. Meanwhile, India's Foreign exchange reserves are continue to be comfortable with external debtedness on a declining path.

    15:08 (IST)04 Jul 2019
    There is no standard of privacy and security today, no Data Protection Act: Mahua Moitra in LS on Aadhaar Amendment Act

    Mahua Moitra, Trinamool Congress leader in Lok Sabha today spoke on Aadhaar and Other Laws (Amendment) Bill, 2019. Questioning the data protection laws of the country, she said, "I'm giving up my bio-metric data, my most personal data to a pvt agency. If Aadhar ecosystem fails you're saying that there are viable means to recourse but I don't know what they are. They haven't been specified. There is no standard of privacy and security today. There is no Data Protection Act. In the absence of a data protection how can you ask me to give up my information to a private agency? This is integral to the Bill, you can't have cart before the horse."

    14:58 (IST)04 Jul 2019
    EAC-PM Bibek Debroy welcomed the Economic Survey's emphasis on fiscal discipline as growth driver
    14:18 (IST)04 Jul 2019
    PM Modi on Economic Survey: Vision to achieve $5 trillion economy

    Welcoming the Economic Survey 2019, Prime Minister Narendra Modi said it outlines a vision to achieve a $5 Trillion economy. "It also depicts the gains from advancement in the social sector, adoption of technology and energy security."

    13:39 (IST)04 Jul 2019
    CEA KV Subramanian on themes underlying Economic Survey 2019

    Chief Economic Advisor KV Subramanian on Economic Survey 2018-19: Theme that underlies this economic survey is, the sky blue colour, the colour used for the survey, captures unfettered blue sky thinking which is what we've indulged in trying to come with the idea for this survey

    13:36 (IST)04 Jul 2019
    Vision of a $5 trillion economy by 2024-25: CEA KV Subramanian

    Addressing the press after the release of his maiden Economic Survey, CEA KV Subramanian said: "In an uncertain world in which we all work, there are 3 key elements critical for ensuring that policies really help in reaching common people. 1st, a vision that has already been provided by the PM, of a 5 trillion dollar economy by 2024-25."

    (Express Photo by Tashi Tobgiyal)

    "To achieve that vision, a strategic blueprint is necessary. This year Economic Survey makes a concerted effort to try and provide that blueprint for achieving vision laid down by the PM. 3rd key elements are tactical tools necessary to calibrate into this blueprint," he said.

    13:23 (IST)04 Jul 2019
    Watch LIVE: CEA Krishnamurthy Subramanian addresses press on Economic Survey

    Watch LIVE: CEA Krishnamurthy Subramanian addresses press on Economic Survey. This is Subramanian's maiden Survey ahead of the Union Budget Friday

    The Economic Survey provides an authoritative, detailed and official annual summary of the current state of play in the Indian economy which will act as a policy guideline to the Union Budget.

    Given that the Indian economy is going through a rough patch, this year’s Economic Survey will be keenly watched for a new bunch of big ideas under the new CEA. As such, apart from providing a comprehensive snapshot of the various sectors of the economy, the Survey is also used as a sounding board for introducing new policy ideas and triggering fresh debates. As the years have rolled by, successive CEAs have used every aspect of the Economic Survey to convey some key idea. For instance, the colour of the 2018 Survey’s cover — pink — was chosen “as a symbol of support for the growing movement to end violence against women, which spans continents”.

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