Daily Briefing: FM Nirmala Sitharaman interview with Express after Budget presentation; Oppn seeks probe into alleged Adani fraud in Parliament

Only in the Express

A day after presenting the Union Budget for 2023-24, Union Finance Minister Nirmala Sitharaman spoke to The Indian Express about the one main focus of the budget since day 1 — growth. “The Prime Minister was also on board with it. He said growth ka momentum rakhna chahiye (we need to keep the growth momentum). If anything, we need to speed it up, oil it better and run it better, and that is why this number of Rs 10 lakh crore for capital expenditure came up,” she said.

Read the full interview.

Big Story

As the market continued to hammer its stocks with the flagship Adani Enterprises dipping another 26.50% and over $100 billion shaved off the group’s total market cap, the Reserve Bank of India (RBI) has sought details from banks about their exposure to the group.

The Adani storm found its way to Parliament yesterday, when the Opposition put up a united front seeking a probe by either a joint parliamentary committee or headed by the Supreme Court or monitored by the Chief Justice of India, into the allegations of accounting fraud and stock manipulation. The protests by the Opposition did not let Parliament function the day after the Union Budget was tabled, and could end up derailing the rest of the Session as well.

From the Front Page

In its supplementary prosecution complaint filed over alleged irregularities in the Delhi excise policy case, the Enforcement Directorate (ED) has stated that Delhi Chief Minister Arvind Kejriwal allegedly spoke to one of the main accused, Sameer Mahendru, in a video call and asked him to continue working with co-accused Vijay Nair who he referred to as “his boy”.

More than two years after he was arrested by the Uttar Pradesh Police while heading to the Hathras home of a young Dalit woman who died after an alleged gangrape, journalist Siddique Kappan was released on bail from Lucknow jail Thursday morning.

Must Read

With exactly a year to go before the January 2024 deadline for the construction of the Ram temple at Ayodhya, authorities have ensured that no stone will be left unturned. And we mean literally. This week, two ‘Shaligram’ stones, weighing 31 tonnes and 15 tonnes, arrived in Ayodhya — travelling 1,000 kilometres, carted on trucks, worshipped by devotees along the way, and guarded by police personnel.

In our opinion section today: Referring to the Budget 2023 as an “innovative amalgamation,” columnists N K Singh and Prachi Mishra delve into the tax policies, fiscal deficit, and more, that demonstrate Modi’s political leadership and its confidence in continued stability, in the backdrop of impending state elections and the general elections in 2024.

Finance Minister Nirmala Sitharaman tweaked the tax slabs and rates in the new personal income tax regime in the Budget for 2023-24, meant to be introducing citizens to a simpler, hassle-free tax regime with minimal compliance burden, as against the more complicated old system. But is this the right move for you? Sandeep Singh and Sukalp Sharma explain.

And Finally…

In the final passage of their career, the two stalwarts of Indian cricket — Virat Kohli and Cheteshwar Pujara — have stumbled onto an unusual nemesis, spin bowlers on subcontinental surfaces. Sandip G takes you through a journey of Kohli’s and Pujara’s vulnerabilities and strengths, eyeing an enthralling storyline where they overcome their latest flaws in the coming Border-Gavaskar trophy.

Until tomorrow,

Ariba and Rahel Philipose

Business As Usual by EP Unny