Parliament Session Highlights: Multiplier effect of capital spending has helped India become world’s fastest growing economy says FM Sitharaman

The Union Housing and Urban Affairs Ministry has not taken any decision on approval of the draft Master Plan for Delhi (MPD) 2041 yet, the Lok Sabha was informed on Thursday.

In a written reply to a question, Union Minister of State for Housing and Urban Affairs Tokhan Sahu said the Delhi Development Authority (DDA) approved the proposal of the draft MPD-2041 on February 28, 2023.

"Thereafter, DDA forwarded the proposal to the ministry on 13.04.2023 for approval of Government of India for issuance of final notification of MPD-2041. The ministry has not taken a decision," the minister said.

In a meeting on February 28 last year, Delhi Lt Governor V K Saxena, who is also DDA Chairman, approved the draft MPD-2041 and said its thrust is on inclusive development, sustainability and innovative interventions such as transit-oriented development hubs, land pooling, heritage and Yamuna rejuvenation, and regeneration of the city.

The first MPD was promulgated in 1962 under the Delhi Development Act, 1957. These plans are prepared for 20 years' perspective period and provide a holistic framework for planned development of the city. (PTI)

Parliamentary approval for the Budget 2024-25 was completed on Thursday with the Rajya Sabha returning the relevant legislations to the Lok Sabha after Finance Minister Nirmala Sitharaman's spirited reply to the debate emphasising Budget was aimed at promoting investments and creating jobs.

The Rajya Sabha returned the Appropriation Bill and the Finance Bill to the Lok Sabha, thus completing the budgetary exercise for 2024-25. The Jammu and Kashmir Appropriation Bill too was returned to the Lower House.

Earlier, these bills were approved by the Lok Sabha.

Sitharaman presented the Budget in the Lok Sabha on July 23. It was her seventh Budget.

Replying to the discussions in the Upper House, the minister said the Union Budget balances different overriding imperatives, including growth, employment, capital expenditure, and fiscal consolidation. (PTI)

The government on Thursday said the Bhartiya Vayuyan Vidheyak Bill 2024, which seeks to replace the 90-year-old Aircraft Act, would address the current discrepancies in the aviation law and help the industry grow.

Speaking during a discussion on the Bill in the Lok Sabha, Aviation Minister Kinjarapu Rammohan Naidu underscored the need for the new legislation, noting that the Aircraft Act, 1934 has become outdated due to its numerous amendments over the years.

The Bill, which was introduced in the Lok Sabha on July 31, is intended to "regulate various aspects of the aviation industry, including the design, manufacture, maintenance, operation, and sale of aircraft".

Naidu explained that the 1934 Act had undergone 21 amendments, resulting in ambiguities and contradictions, particularly regarding the powers and functions of internal organizations like the Directorate General of Civil Aviation (DGCA).

He pointed out that these issues have created confusion within the aviation sector, making it difficult for the relevant authorities to operate effectively.

"Because of this, the whole structuring of the Act itself has led to a lot of ambiguity and contradictions in terms of powers and functions of certain internal organizations," he said.

The minister stressed that there was a "dire need to structurise the whole Act," which is why the government introduced the new legislation. (PTI)

“Multiplier effect of capital spending has helped India become world’s fastest growing economy,” said Union Finance Minister Nirmala Sitharaman in Rajya Sabha today and added that the Union Budget 2024 balances different overriding imperatives, inclusive growth, jobs, capex, and fiscal consolidation. The Budget 2024 highlights & continues the feature that capital expenditure will be sustained, as was indicated earlier at Rs 11.11 lakh crores, said FM Sitharaman today. Congress MP Jairam Ramesh during a discussion on the Budget today in Rajya Sabha said that all engines of economic growth are not firing at the same speed even though the government has accelerated the capital expenditure.

The government on Thursday informed Parliament that the Silkyara tunnel project contract has provision for construction of an escape passage.

In a tragic event, 41 workers were trapped after a portion of the under-construction tunnel in Uttarakhand collapsed on November 12, 2023. The workers were rescued on November 28.

"The National Highways and Infrastructure Development Corporation Limited (NHIDCL) has included the clause to construct escape passage in the contract agreement of construction of 2-lane bi-directional Silkyara bend - Barkot tunnel on NH-134 as mandated by the Cabinet Committee," Union Minister Nitin Gadkari said in a written reply in the Lok Sabha.

The Road Transport and Highways Minister said the project was approved considering the risks, such as shear zones, to be addressed through scientific technology and methodology as per the contract agreement. (PTI)

Waqf Amendment Bill has been sent to Parliament committee amid opposition from several INDIA bloc MPs, who labelled the Bill ‘divisive’, ‘anti-Muslim’, and ‘unconstitutional’ after the government introduced the bill in the Lok Sabha today. The Bill proposes significant changes to the 1995 law, such as the inclusion of Muslim women on Waqf boards and ensuring verification of land before a board announces it as a Waqf property. While the All India Muslim Personal Law Board (AIMPLB)  had termed the move as ‘unacceptable’, INDIA parties had said it will oppose any changes to the Waqf Act.

The government is taking steps to ensure the coastal security of the nation and is helping coastal states by improving their infrastructure for supervision, Minister of State for Home Nityanand Rai said in Rajya Sabha on Wednesday.

Replying to a supplementary question, the minister said the terrorist attack on Mumbai on November 26, 2008 was a lesson for the country to remain alert to face any such situation.

"The government is fully committed for the coastal security," he said.

The government is cooperating with the coastal states and is constructing new radar stations for monitoring and joint patrolling is also conducted with the Coast Guard.

It is also running 820 community engagement programmes and incident management is done through digital mapping.

It has also set up the Rashtriya Coastal Police Academy (RCPA) to train the manpower of state marine police.

The government has also provided over 200 boats of 5 to 12-tonne capacity.

"204 coastal police stations have been set up for 11,000 km coastline and over 800 vehicles has been provided," he said.

The government through a technology network is trying to fill the gaps in coastal security. (PTI)

Opposition members in Rajya Sabha on Wednesday pressed for a caste census, imposition of super rich tax, and removal of GST levy on life and medical insurance premiums.

Participating in a discussion on the Jammu and Kashmir Appropriation No. 3 Bill, 2024 in the Upper House, Raghav Chadha of the Aam Aadmi Party expressed happiness at the indexation benefit being "partially restored".

However, he said, this poses a "huge question mark" over the central government's tax policies.

"... How confused is our country's taxation policy. On 23 July 2024, you say that you are taking away the indexation benefit from investors and exactly after two weeks, you say that you are not taking it away but restoring it. This shows that when you, without thinking, not acting on the advice of an economist, if you devise the Budget on the advice of those who do not have economic knowledge, these kind of flip flops will be witnessed," he said.

Taking away indexation from an Indian investor is equivalent to breaking their back, Chadha claimed, seeking "full restoration" of the indexation benefit. (PTI)

The Lok Sabha on Wednesday passed the Finance Bill 2024 after the government relaxed the just-introduced new capital gains tax on real estate, allowing taxpayers an option to switch to a new lower tax rate or stay with the old regime that had higher rate with indexation benefit.

Finance Minister Nirmala Sitharaman, who in her Budget for 2024-25 proposed to lower the long-term capital gains tax on real estate to 12.5 per cent from 20 per cent but without the indexation benefit, moved an amendment to the bill to give the option. Indexation benefit allows taxpayers to arrive at the cost price of the property after adjusting for inflation.

The amendment came after the new provision was criticised for raising tax incidence and disincentivizing investments in the real estate.

The major amendment in the Bill relates to restoration of indexation benefit on sale of properties bought prior to July 23, 2024. Now, individuals or HuFs who purchased houses before July 23, 2024, can opt to pay LTCG tax under the new scheme at the rate of 12.5 per cent without indexation or claim the indexation benefit and pay 20 per cent tax.

The Lower House later approved the bill with 45 official amendments by voice vote. (PTI)

Finance Minister Nirmala Sitharaman on Wednesday introduced the Appropriation (No 2) Bill 2024 in the Rajya Sabha which authorises certain sums out of the Consolidated Fund of India for services in 2024-25.

Sitharamam also introduced the Jammu and Kashmir Appropriation (No.3) Bill, 2024 in the Upper House.

The Lok Sabha passed the two legislations last week.

Initiating the discussion on the bills, Digvijaya Singh of Congress stated that the focus of the government should be on reducing the disparity between rich and poor, tackling price rise and generating employment.

Attacking the government, he said that for the last decade the government has just worked for the benefit of big corporations. He stated that household savings have come down in the country signalling that poverty is on the rise. (PTI)

Opposition parties on Wednesday demanded that the Waqf (Amendment) Bill be sent to Parliament's standing committee for scrutiny after it is introduced, with the government saying the Business Advisory Committee will take a call after assessing the sense of lOK sABHA.

The government, official sources said, will not press for the passage of the Bill after it is introduced in Lok Sabha on Wednesday.

Whether to send the bill to a Parliament panel for scrutiny or not will be decided on Wednesday but it cannot be ruled out, a source said.

The Congress, Samajwadi Party and the Trinamool Congress representatives at the committee said that the bill, which is being opposed by some Muslim organisations, should be sent to the standing committee, which deals with the minority affairs ministry and has not been constituted yet.

The House may form a panel in the absence of the standing committee. (PTI)

The Congress on Wednesday urged the government to make all efforts to appeal against Vinesh Phogat's disqualification from the Olympics, with party leader Rahul Gandhi expressing confidence that she will come back stronger to the wrestling arena.

In a shocking reversal of fortunes, Phogat was disqualified from the Paris Olympics after being found overweight ahead of her women's 50kg final, leaving her medal-less within hours of coming close to an unparalleled gold.

She had scripted history by becoming the first Indian woman wrestler to reach the gold medal bout in her category on Tuesday night. Before this morning, she was assured of at least a silver medal but will now be coming back empty-handed due to the disqualification.

Congress president Mallikarjun Kharge said India's pride, Vinesh Phogat defeated world champions but has been disqualified due to technical reasons.

"She went through a lot. From protesting at the footpath for justice to reaching the pinnacle podium of the Olympics. It is extremely distressing of what she must be going through," Kharge said in a post on X. (PTI)

Opposition Congress party on Wednesday raised in Rajya Sabha the issue of dropping of Preamble to the Constitution from certain NCERT textbooks saying this was an attempt to impose communal ideology on the country - a claim which Union Minister J P Nadda countered saying the government was committed to protecting the constitution.

Raising the issue, Leader of the Opposition and Congress president Mallikarjun Kharge said Preamble, which is the soul and foundation of the Indian Constitution, used to be published in NCERT textbooks.

The objectives stated by the Preamble are to secure justice, liberty, equality to all citizens and promote fraternity to maintain unity and integrity of the nation, he said and went on to read the debate in Constituent Assembly in November 1948, where it was argued that political democracy in the country should also be made a social democracy.

Kharge said every citizen especially the future generation needs to be educated about foundational principles and values of Indian democracy and Constitution as well as the sacrifices made by freedom fighters such as Mahatma Gandhi, Pt Jawaharlal Nehru, B R Ambedkar, and Sardar Vallabhbhai Patel. Kharge demanded that the government give a clarification on the issue, present facts before the House and withdraw the move to drop Preamble from textbooks. (PTI)