I Am Aware Of The Issues Of Middle Class: Sitharaman

Budget 2023: Allocation For PM Awas Yojana Raised By 66%

The outlay for Prime Minister Awas Yojana (PMAY) has been enhanced by 66 per cent to over Rs 79,000 crores, announced Finance Minister Nirmala Sitharaman while presenting the Union Budget 2023-24 in Parliament on Wednesday.

This is a significant increase considering Sitharaman, in the Budget 2022-23, had proposed an allocation of Rs 48,000 crore for the Housing for All initiative of the government.
This year’s budget is significant being the last full budget of Modi government’s second tenure as the general elections are scheduled for next year.

The government, last year, had promised that 80 lakh houses will be completed for the identified eligible rural and urban beneficiaries of PMAY.

Union Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 in the Parliament on Wednesday.

The Finance Minister announced that the government proposes to increase capital expenditure outlay by 33 per cent to Rs 10 lakh crore in 2023-24, which would be 3.3 per cent of the GDP, said Union finance minister Nirmala Sitharaman.

“(This overall outlay) would be 3.3 per cent of GDP, almost three times the outlay made in 2019-20. With the substantial increase, it is central to the government’s efforts to enhance growth potential and job creation, the crowd in private investments and provides a cushion against global headwinds,” Sitharaman said in her Budget speech.

For the agriculture sector, which is said to be the backbone of Indian economy, the government has proposed to increase the credit target to Rs 20 lakh crore with a focus on animal husbandry, dairy and fisheries. The country’s agriculture sector has been growing at an average annual growth rate of 4.6 per cent in the last six years, Sitharaman told Parliament.

The government will also launch a sub-scheme of the existing PM Matsya scheme to improve value chain efficiencies, she said.

Pradhan Mantri Awas Yojana – Urban (PMAY-U), a flagship Mission of Government of India launched in 2015, is being implemented by Ministry of Housing and Urban Affairs (MoHUA), aims to provide housing for all including the slum dwellers.

According to a government data, out of the overall target of 2.95 crore houses, a target of 2.92 crore houses had been allocated to States/Union Territories UTs), out of which, 2.49 crore houses have been sanctioned to beneficiaries by various States/UTs and 2.10 crore houses have been completed as on December 07, 2022.

The Economic Survey, tabled in the Parliament on Tuesday, noted India’s GDP is expected to grow in the range of 6 to 6.8 per cent in the coming financial year 2023-24. This is in comparison to the estimated 7 per cent this fiscal and 8.7 per cent in 2021-22. (ANI)

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default tax regime

Budget 2023: Income Tax Rebate Increased, No Tax On Income Upto Rs 7L

Union Finance Minister Nirmala Sitharaman on Wednesday announced an increase in the income tax rebate limit from Rs 5 lakh to Rs 7 lakh stating that the new tax regime will now be the default tax regime.

The Finance Minister also proposed to change the tax structure in this regime by reducing the number of tax slabs to 5 and increasing the tax exemption limit to Rs 3 lakh.
On personal income tax, the FM announced that “Tax for income of Rs 0-Rs 3 lakh is nil, for income above Rs 3 lakh and up to Rs 5 lakh will be taxed at 5 per cent, for income of above Rs 6 lakh and up to Rs 9 lakh will be taxed at 10 per cent and for income above Rs 12 lakh and up to Rs 15 lakh to be taxed at 20 per cent and above 15 lakh at Rs 30 per cent.”

For pensioners, the finance minister announced extending the benefit of standard deduction to new tax regime. Each salaried person with an income of Rs. 15.5 lakh or more will benefit by Rs. 52,500.

Sitharaman, while presenting the Union Budget in Parliament today said, “A person earning Rs 9 lakh a year will now be paying just Rs 45,000 instead of Rs. 60,000 currently. Similarly, a person earning Rs 15 lakh will now pay only 10 per cent of this as tax.”

The finance minister also said: “The limit of Rs 3 lakh for tax exemption on leave encashment on government salaried employees. That was set in 2002 when government salaries were lower and is now being raised to Rs 25 lakh.”

She also added, “The new income tax regime will now become the default option, but people will still have the option to go for earlier regime.”

The average processing time for income tax returns has been reduced from 93 days to 16 days.(ANI)

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During the Union Budget speech in the House, Union Finance Minister Nirmala Sitharaman on Wednesday announced that 50 additional airports, helipads, water aero drones, and advanced landing grounds will be revived to improve regional air connectivity in the country.

Budget: New Airports, Water Aero Drones, Advanced Landing Grounds Announced

During the Union Budget speech in the House, Union Finance Minister Nirmala Sitharaman on Wednesday announced that 50 additional airports, helipads, water aero drones, and advanced landing grounds will be revived to improve regional air connectivity in the country.

“50 additional airports, helipads, water aero drones, and advanced landing grounds will be revived to improve regional air connectivity,” informed Sitharaman in Lok Sabha.
Sitharaman started her Budget speech at 11 am, the last full Budget of the Modi government in its second term. Like the previous two Union Budgets, Union Budget 2023-24 is also presented in paperless form.

This year’s Budget holds much significance as the country is scheduled to have the next Lok Sabha election in April-May 2024.

As per established tradition, Finance Minister Nirmala Sitharaman along with ministers of state Pankaj Chaudhary and Bhagwat Karad and Finance Secretary T V Somanathan called on President Droupadi Murmu.

This is the fifth budget presentation by Sitharaman.

The budget session of the Parliament began on Tuesday with President’s address, subsequently tabling the Economic Survey for 2022-23. The formal exercise to prepare the annual Budget for the next financial year (2023-24) commenced on October 10.

The Economic Survey, tabled in the Parliament on Tuesday, noted India’s GDP is expected to grow in the range of 6 to 6.8 percent in the coming financial year 2023-24. This is in comparison to the estimated 7 percent this fiscal and 8.7 percent in 2021-22. (ANI)

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National Assembly

Pak Raised Mujahideen Terrorists: Pakistan’s Interior Min In National Assembly

Days after Pakistan witnessed a deadly attack on its security forces inside a Peshawar mosque, the country’s Interior Minister Rana Sanaullah admitted inside the National Assembly that it was a collective mistake to prepare the mujahideen to go to war with a global force.

“We did not need to make Mujahideen. We created Mujahideen and then they became terrorists,” Sanaullah said while addressing the country’s upper house of Parliament on Tuesday.
Defence Minister Khawaja Asif also speaking in the National Assembly said that the country’s National Security Committee will decide on the operation against terrorists.

The Interior Minister also claimed that former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) government had released members of the outlawed Tehreek-e-Taliban Pakistan (TTP) or Pakistani Taliban who were serving death sentences.

Sanaullah’s remarks came after the proscribed TTP on Monday claimed responsibility for the January 30 mosque attack in Peshawar which left 100 people dead and over 220 injured. The explosion occurred in the mosque’s central hall on Monday at around 1 pm after a suicide bomber blew himself up.

Pakistan’s Interior Minister admitted the belief that the TTP, formally called the Tehreek-e-Taliban-e-Pakistan, is an umbrella organization of various Islamist armed militant groups operating along the Afghan-Pakistani border. would lay down their arms and submit to the law was mistaken, as per Geo News.

Inside Pakistan’s National Assembly, there was a heated debate yesterday with members demanding major reforms to eradicate terror.

After the Peshawar mosque blast, a faction of the TTP claimed responsibility for the attack but hours later a TTP spokesperson tweeted distancing itself from the claim and said their policy does not include targeting mosques.

Since November last year terror attacks across Pakistan have been increasing after a peace deal between the TTP and the Pakistan government was called off by the proscribed group. The TTP was formed in the year 2007 by banding together of several armed groups who protested against Pakistan’s cooperation with the US in its war on terrorism. The TTP supported the Afghan Taliban’s fight against the US and The North Atlantic Treaty Organization (NATO).

Yesterday, in the National Assembly Pakistan Interior Minister Sanaullah stressed that it was incorrect to think that the TTP was separate from the Afghan Taliban. He said that the prior policy to resettle the Taliban could not bear fruit and led to the current situation in Pakistan.

The Pakistan federal minister said that the incumbent government has changed its approach towards the Taliban. He condemned the terrorist attack in the mosque in Peshawar’s Police Lines and said that the suicide bomber aimed to target police personnel, Geo News reported.

Furthermore, Sanaullah said that outlawed TTP terrorists have found safe havens in a neighbouring country. He stressed that the development comes despite Afghan Taliban making an agreement with Pakistan and the international community that they would not permit their land to be used against any other nation, according to Geo News. He highlighted the need to hold talks with Afghanistan in order to stop terrorists from having safe shelters.

Meanwhile, Defence Minister Khawaja Asif also speaking in the National Assembly blamed Afghan refugees for the deteriorating security situation in Pakistan.

He said that in the last 1.5 years around 4.5 lakh Afghans had entered Pakistan with valid documents but have not returned to Afghanistan. “Who is the terrorist among them, I cannot say anything about it,” he said.

“When we were having a shortage of dollars, a truckload of dollars was sent to Afghanistan. We use to buy coal from them, they took Pakistani Rupees and bought dollars from here only and dollars sky-rocketed in Pakistan,” he added.

Khawaja further stated that Afghan refugees are present even in the smaller cities of Pakistan and they are in millions.

“As per some reports, other than UNHCR reports, more than 1.5 million Afghan refugees are present in Pakistan,” said Khawaja.

In total, around 5 million of them are residing in Pakistan and they are involved in many businesses in the country with transportation being the prime business” he added.

Meanwhile, speaking in the National Assembly yesterday, Defence Minister Khawaja Asif said that a National Security Committee will decide on the operation against terrorists.

“The National Security Committee can decide on the operation against the terrorists,” Defence Minister said.

Khawaja Asif also said that there is a need to create a consensus like the Zarb-e-Azb operation against terrorism. Pakistan Army launched Operation Zarb-e-Azb, an offensive targeting various militant groups in North Waziristan, an area in the Khyber Pakhtunkhwa province of Pakistan, in 2014 on the border between Pakistan and Afghanistan.

The Defence Minister further stated that thousands of people were left without jobs after the Afghans came and settled in Pakistan, the Dawn report stated, adding that Asif also said the first proof surfaced when the people of Swat protested against the resettled people.

He noted that the people of Wana also protested and expressed similar emotions. “I am mentioning these incidents because of the tragedy that occurred yesterday […] the terrorist was standing in the frontline during Zuhr prayers where he detonated himself,” he said.

Asif said the prime minister and the army chief visited Peshawar where they were given a briefing on the attack. “But this is a tragedy where we require the same resolve and unity which was expressed in 2011-2012,” the minister said.

“I will not talk for long but I will say briefly that at the start, we sowed the seeds for terrorism,” the Defence minister said.

He said that when Russia invaded Afghanistan, Pakistan offered its services to the United States ‘on rent’. “General Zia was the ruler at the time […] the agreement made with the US went on for eight to nine years after which the US went back to Washington celebrating the fact that Russia was defeated,” he added. (ANI)

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