Union Budget 2023 big picture: Capex push, tax reform
Even though it is the last full-fledged Union Budget (for 2023-24) before the Lok Sabha elections of 2024, Finance Minister Nirmala Sitharaman chose to stick to the growth strategy that she first unveiled in 2019 when she announced a historic corporate tax cut.
This growth strategy had two prongs. One, incentivise the private sector in the economy to invest in the productive capacity and thereby create jobs and push growth. The second part was about the government’s role in the economy. Here, the mantra has been minimum government. That, in turn, meant increasing the capital expenditure on the one hand, and raising more revenues via disinvestment and privatisation on the other. This was done to ensure that the government maintains fiscal prudence and doesn’t splurge on populist schemes.
Union Budget 2023 | After targeting rural and urban poor, a 2024 signal: The Middle Class Matters
What’s the big political economy message from Nirmala Sitharaman’s latest Budget? The answer probably lies in five words: The Middle Class Finally Matters. By freeing individuals with annual income up to Rs 7 lakh from paying any tax — and reducing the burden to Rs 1.5 lakh (from Rs 1,87,500 now) for even those drawing Rs 15 lakh or Rs 1.25 lakh/month — the Narendra Modi government has delivered some relief for a class that has long felt ignored.
The Modi government’s big initiatives during its almost nine years in power have been largely aimed at the very poor, the farming community and corporates. As cynics would say, the first and second have the votes, while the last bring in the notes.
Express View on Union Budget 2023: Keeping a clear head, staying the course
Union Finance Minister Nirmala Sitharaman’s latest budget, the last full-fledged one before next year’s general elections, can be commended on three counts. First, for staying the course on fiscal consolidation. The finance minister has targeted the Centre’s fiscal deficit for 2023-24 at 5.9 per cent of GDP, down from 6.4 per cent in the current fiscal and 6.7 per cent in 2021-22. She has done this by not announcing new grandiose schemes having significant fiscal implications — on the scale of, say, PM-Kisan or MGNREGA.
Besides, the spending on food, fertiliser and petroleum subsidy will be Rs 1.47 lakh crore lower compared to the revised estimates for 2022-23. Sitharaman has also budgeted a lower outlay on MGNREGA (Rs 60,000 crore versus Rs 89,400 crore), while maintaining it at the same level for PM-Kisan. There is no increase, for now, in direct income support to farm households under the scheme from the current Rs 6,000 per annum. These savings in expenditure have created the space to bring down the revenue deficit even more appreciably, from 4.1 per cent to 2.9 per cent of GDP.
Naxal violence in India has decreased by 77 per cent over the past 12 years and the number of deaths in related incidents has also reduced by 90 per cent during the same period, the government said in Lok Sabha on Tuesday, news agency PTI reported.
Union Minister of State for Home Nityanand Rai said the geographical spread of LWE-related violence has significantly reduced and only 176 police stations of 45 districts reported related violence in 2022. In 2010, at least 465 police stations of 96 districts had reported LWE-related violence.
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Replying to a written question, Rai said the number of LWE-related deaths (security forces and civilians) has reduced from an all-time high of 1005 in 2010 to just 98 in 2022.
Rajya Sabha Chairman Jagdeep Dhankhar rejected notices under Rule 267 by Congress members Pramod Tiwari, KC Venugopal, Kumar Ketkar, Neeraj Danghi, Akhilesh Prasad Singh, Syed Naseer Hussain and Amee Yajnik to discuss the government's failure to constitute a Joint Parliamentary Committee to investigate the charges of fraud, corruption and financial mismanagement by Adani Group companies.
Dhankhar also rejected notices by the BRS' K Kesava Rao and the AAP's Sanjay Singh to discuss the Hindenburg report on Adani Enterprises and other group companies, along with demands for discussions on the post-poll violence in Tripura and prohibition of online gambling and regulation of online games in Tamil Nadu by other members.
Rule 267 calls for suspension of the day's business to take up an issue being mentioned in the notice. (PTI)
Rajya Sabha adjourned till 2 pm after opposition uproar over the government's demand for Rahul Gandhi's apology for his democracy remarks.
Without naming Rahul Gandhi, Union Minister Piyush Goyal on Tuesday again alleged that Gandhi had insulted the Indian Parliament on foreign soil and urged the leaders of opposition parties to condemn these remarks. ' 'I appeal to the leaders of all opposition parties to condemn the remarks made by a senior member of the Parliament, insulting the Indian parliament, on foreign soil,' he said.
Lok Sabha proceedings were adjourned till 2 pm on Tuesday amid uproar over Congress leader Rahul Gandhi's democracy remarks. As the Lok Sabha met for the day, Speaker Om Birla urged members to let the House function and took up the Question Hour.
Asking the Congress members, who were on their feet, to maintain the decorum of the House and not show placards, Birla said they should let the House function.However, Congress members continued their protest following which the speaker adjourned the House till 2 pm. (PTI)
Commerce Minister Piyush Goyal on Monday said that spotlight on 'RRR' is a global endorsement of Prime Minister Narendra Modi's choice for nominating to Rajya Sabha script writer V Vijayendra Prasad who is associated with the Oscar award-winning action film.
Telugu period film RRR's foot-tapping chartbuster song 'Naatu Naatu' bagged the Oscar for Best Original Song.
In his Facebook post -- Rajya Sabha Nomination, An Action for Prime Minister's Choice --, Goyal said, 'Prime Minister Narendra Modi ji has left his stamp of quality in nominating members to the Rajya Sabha by choosing outstanding personalities who have made a mark in diverse fields such as Indian culture, social work and sports.'
He said that Vijayendra Prasad, the scriptwriter of the film RRR, is one of the several exceptional people whom the Prime Minister nominated to the Rajya Sabha in July 2022. The scriptwriter from Andhra Pradesh has been associated with the creative world for decades. (PTI)
Leaders of 16 opposition parties on Tuesday met in Parliament complex and decided to step up their demand for a JPC on the Adani issue. The government's offensive against Rahul Gandhi over his democracy remarks in London also came up for discussion at the meeting held in the chamber of Leader of Opposition Mallikarjun Kharge, sources said.
Among the parties which attended the meeting include the Congress, DMK, CPI-M, JDU, RJD, NCP, SP, SS (Uddhav), AAP, CPI, JMM, IUML, MDMK, NC, VCK and Kerala Congress.
Earlier, Congress Parliamentary Party chairperson Sonia Gandhi met senior leaders of the party at the Congress office in Parliament House to discuss the party's strategy in the wake of the government's attack on Rahul Gandhi. (PTI)
Targeting Rahul Gandhi over his remarks in London that “democracy is under attack” in India,Union Minister Anurag Thakur today said that Gandhi "should come to the Parliament and apologise to the nation."
"Rahul Gandhi goes abroad and insults the country. He should come to the Parliament and apologise to the nation. He says that he is not allowed to speak in Parliament but his attendance in Lok Sabha is lower than the average attendance of MPs in Parliament," he was quoted saying by news agency ANI.
"Congress knows the art of corruption and corruption through art. They are running a campaign against the country. They should apologise to the nation and stop their Cambridge cries," Thakur said.
? Discussion on the Budget of the Union Territory of Jammu and Kashmir for 2023-24.
? Discussion on the working of the Ministry of Skill Development and Entrepreneurship and on the working of the Ministry of Textiles
? Congress Lok Sabha MP Manish Tewari gives adjournment motion notice to hold a discussion on "the essence, substance and spirit of Freedom of Speech accorded to Members of Parliament under Article 105 of the Constitution".
? Rajya Sabha MP Pramod Tiwari gives suspension of business notice under rule 267 on Adani stocks issue
? AAP Rajya Sabha MP Sanjay Singh gives suspension of business notice under rule 267 demanding an investigation into the Adani-Hindenburg case and a discussion in the House on this issue.
? Congress Rajya Sabha MP Dr Naseer Hussain has given notice under rule 267 to suspend the proceedings of the House & discuss the "failure of Govt in constituting JPC in the Adani financial fraud case".
? BRS Rajya Sabha MP K Keshav Rao has given a suspension of business notice under rule 267 and demanded JPC probe into the Hindenburg report
? Congress MP Manickam Tagore gives adjournment motion notice in Lok Sabha demanding JPC probe into Hindenburg report
? AAP Rajya Sabha MP Sanjay Singh gives zero-hour notice over the "misuse of central agencies against opposition leaders".
Amid ruckus over Congress MP Rahul Gandhi's London speech, both Rajya Sabha and Lok Sabha have been adjourned till tomorrow. (ANI)
Union minister Giriraj Singh on Monday sought action against Congress leader Rahul Gandhi from Lok Sabha Speaker Om Birla for his recent comments in London that microphones in the Indian Parliament are often silenced against the opposition.
Singh alleged that Gandhi spoke like the "tukde-tukde gang" during his visit to the UK. "He has spoken so much in Parliament, but in London he said he is not allowed to speak, the mic is switched off. I think this is an attack on democracy and insult to Lok Sabha and the country," Singh told reporters outside Parliament House. (PTI)
Responding to BJP's allegations against Rahul Gandhi, senior Congress leader and Thiruvananthapuram MP Shashi Tharoor Monday said: "This is a blatant kind of politics because Rahul Gandhi didn't say what he's accused of. He specified that ‘we'll solve issues internally and just want everyone to be aware, Indian democracy is global public good’. There's nothing that he needs to apologise for." (ANI)
Lok Sabha and Rajya Sabha proceedings were on Monday adjourned till 2 pm amid uproar over Congress leader Rahul Gandhi's democracy remarks, with the government demanding his apology.
Following the joint press conference in Parliament, Congress president Mallikarjun Kharge Monday tweeted: "@narendramodi
ji I want to remind you of your statement made in China. You said - “Earlier, you felt ashamed of being born Indian. Now you feel proud to represent the country" Was this not an insult to India and Indians? Tell your Ministers to refresh their memories!"
"In South Korea, you had said - "There was a time when people used to feel that what sin they committed in their past life which resulted in taking birth in India, is this what you call a country..." First see the ‘Mirror of Truth’, before lecturing the Congress party," Kharge added.
Congress president Mallikarjun Kharge on Monday hit back at the government for raising Rahul Gandhi's democracy remarks in Parliament, saying those "crushing" democracy are talking of saving it. He also dubbed Prime Minister Narendra Modi as a "dictator".
Kharge took out a protest march from Parliament House complex to Vijay Chowk along with MPs of other opposition parties, including those of the BRS, Left parties and AAP, after the BJP launched an offensive against Gandhi for allegedly defaming India by his remarks on democracy and demanded an apology from him.
Talking to reporters at Vijay Chowk, Kharge said, "They (BJP) are crushing and destroying democracy and are talking of saving democracy and the country's pride." He charged that there was no rule of law and that Prime Minister Narendra Modi was running the country like a "dictator".
"They are 'suppressing' opposition parties through 'misuse' of agencies. This is like 'ulta chor kotwal ko daante' (pot calling the kettle black)," the Congress chief alleged. Kharge alleged that PM Modi has "ridiculed" India abroad several times and cited examples of his speeches in China, South Korea, Canada, UAE.
If the prime minister can say all kinds of things against India, why is it a crime if Rahul Gandhi does so, he said. Kharge alleged that all this is being done by the government to divert attention from the Adani-Hindenburg issue. "We are demanding a JPC on the Adani issue. The government is trying to divert attention from this...We are together and will continue to demand JPC on the Adani issue," he said.
The Leader of Opposition also alleged that he was being discriminated against in the Rajya Sabha as the Leader of the House was allowed to speak for 10 minutes and when he rose the House was adjourned after two minutes. (PTI)
"There is no rule of law and democracy under Modi ji. They are running the country like a dictatorship, and then they talk about democracy," Leader of Opposition in Rajya Sabha and Congress president Mallikarjun Kharge said Monday.
"We are demanding the constitution of JPC on the Adani stocks issue. When we raise this issue, then mics are switched off and a ruckus erupts in the House," he added. (ANI)
Launching a scathing attack on Congress leader Rahul Gandhi over his recent remarks against the government, Union minister and BJP leader Piyush Goyal said Monday: "A prominent Opposition leader goes abroad and attacks Indian democracy. He has insulted the people of India and the Parliament. There is freedom of speech in India and MPs can speak in Parliament. We demand that Rahul Gandhi comes to the Parliament and offers an apology to the people of the nation and the House." (ANI)
Lambasting Congress leader Rahul Gandhi for recent his remarks against the government, Union Minister Giriraj Singh said Monday: "Rahul Gandhi in London said that MPs were not allowed to speak in Parliament. This is an insult to Lok Sabha. The House speaker should take action against him on this statement. A sedition case should be registered against him for insulting our democracy." (ANI)
The Lok Sabha has been adjourned till 2 pm amid a ruckus by the members.
While addressing the Lok Sabha, Defence Minister Rajnath Singh said: “Rahul Gandhi, who is a member of this House, insulted India in London. I demand that his statements should be condemned by all members of this House and he should be asked to apologise before the House.” (ANI)
Congress MP KC Venugopal has moved a suspension of business motion notice in Rajya Sabha to discuss Kochi's Brahmapuram fire incident. (ANI)
Ahead of the commencement of the second leg of Budget session, Opposition leaders staged a protest against the central government in front of the Mahatma Gandhi statue in Parliament. (ANI)
Welcome to our Live Blog. The second leg of the Budget session will commence today with the central government asserting that its priority was to pass the Finance Bill. Opposition leaders, meanwhile, will hold a meeting on Monday morning to firm up their floor strategy for the second leg of the Budget session as they gear up to corner the government on issues such as alleged misuse of probe agencies and the Adani row.
Stay tuned as we bring you latest news updates