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TMC slams BJP over issue of allocation of funds for rail projects in West Bengal

TMC slams BJP over issue of allocation of funds for rail projects in West Bengal
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Last Updated: Feb 07, 2021, 12:46 PM IST
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Taking to Twitter, TMC MP and national spokesperson Derek O'Brien said, "In election season, BJP's tourist gang are touting 'record Railway allocation' for Bengal. The truth is, multiple rail projects have been shelved in Bengal and funding choked all these years."
New Delhi: The TMC on Sunday lashed out at the BJP over its assertion that it has allocated the highest-ever funds for railway works in West Bengal, and claimed the state has been deprived of funds for years and multiple rail projects shelved.

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FDI cap hike to raise insurance penetration, help attract overseas funds: Experts

FDI cap hike to raise insurance penetration, help attract overseas funds: Experts
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Last Updated: Feb 07, 2021, 01:06 PM IST
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The proposed increase in FDI would also likely result in increased value for customers by way of more product options at reduced costs, he said.
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New Delhi: Implementation of the Budget proposal to raise the foreign direct investment (FDI) limit in the insurance sector to 74 per cent will help attract overseas capital and enhance insurance penetration in the country, according to experts. Deloitte India Partner and Financial Services Industry Leader Sanjoy Datta said the announcement to raise the FDI cap in the sector was a much-awaited move by the government. It is in direct recognition of the requirement for significant capital inflows to provide adequate levels of insurance cover to the population, he added.

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Government may increase MGNREGA spend if need arises: Anurag Thakur

The minister emphasised that the Narendra Modi government has taken steps in the past in the interest of the poor and vulnerable rural population.

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Modi government allocated 438% more budget to agri compared to UPA: Giriraj

"I want to stress on the budget (allocation) for the agriculture sector. The budget allocation for agriculture was Rs 88,811 crore between 2009 and 2014, which was increased to Rs 4,87,238 crore between 2014 and 2020, registering a growth of 438 per cent," he said.

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Union budget reflects PM's vision for 'minimum government, maximum governance', says Jitendra Singh

Union budget reflects PM's vision for 'minimum government, maximum governance', says Jitendra Singh
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Last Updated: Feb 05, 2021, 12:05 PM IST
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Speaking to media persons, he said, as one of the six pillars of the visionary budget, it outlines plans for reforms as one of the core principles of minimum government, maximum governance.
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New Delhi: Union Minister Jitendra Singh on Friday said the Union budget 2021-22 truly reflects Prime Minister Narendra Modi's vision for "minimum government, maximum governance". Speaking to media persons, he said, as one of the six pillars of the visionary budget, it outlines plans for reforms as one of the core principles of minimum government, maximum governance.

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The Finance Commission has tried to balance need, equity and efficiency: NK Singh

The Finance Commission has tried to balance need, equity and efficiency: NK Singh
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The FC’s chairman NK Singh explains the rationale and thinking behind the recommendations and the institution’s legacy of trust.
The 15th Finance Commission’s (FC’s) final report, which will cover the period between 2021 and 2026, was released along with the Union Budget. The FC has stuck to the existing devolution formula providing for transfer of 41% of the divisible pool of central taxes to states. The FC’s chairman NK Singh explains the rationale and thinking behind the recommendations and the institution’s legacy of trust to Sidhartha:

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Niramala Sitharaman Budget Plan: Five key numbers to watch out for in Niramala Sitharaman's Budget spending plan

India’s annual budget on Monday will be Prime Minister Narendra Modi’s chance to spur demand and investments in an economy cratered by the world’s second-biggest coronavirus outbreak.
His government’s growth-centric plans will be outlined by Finance Minister Nirmala Sitharaman when she delivers the budget speech starting at 11 a.m. in New Delhi. She’s expected to set aside more money for health care and infrastructure development and partly pay for them by raising record amounts by selling stakes in state-run companies.
While the success of the budget depends on how effectively India is able to contain rising infections through vaccine drives in the nation of more than 1.3 billion people, here are five key numbers to watch out for in the spending plan:

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Budget may offer new direct tax dispute resolution framework

New Delhi: The upcoming budget could unveil a new and continuous framework for faster resolution of disputes over direct taxes.
The government is considering options such as mediation or a permanent dispute resolution system with pre-specified benchmarks on the lines of the ‘Vivad Se Vishwas’ scheme have been discussed, a person familiar to the pre-budget discussions said.
“Various options have been discussed… A final view should be taken shortly,” the person told ET. The idea is to prevent disputes and reduce litigation. According to the FY21 budget, more than Rs 8 lakh crore is locked up in direct tax disputes. It is being felt that along with the already introduced faceless assessment, an alternate settlement mechanism can be very effective at keeping disputes contained and would also be appreciated by the global investors.

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View: Budget 2021 should fund data infrastructure and Artificial Intelligence skills

The budget is an opportunity for FM Nirmala Sitharaman to unleash an employment and productivity multiplier through generous funding of data science, funnelled to research and commercial data centres.

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