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distancelearnings · 10 months ago

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BUDGET

Budget and its importance

Budget is a financial plan that outlines an organisation’s or an individual’s estimated revenues and expenses over a specific period of time. It serves as a roadmap for managing financial resources and achieving financial goals. Budget can cover various time frames, such as monthly, quarterly, or annually, and they are crucial tools for effective financial management.

Importance of Budget

Financial Planning: Budgets help individuals and organisations plan and allocate resources effectively. They provide a framework for setting financial goals and working towards them.

Resource Allocation: By outlining expected revenues and expenses, budgets help in allocating resources efficiently, ensuring that funds are directed to the most critical areas.

Decision- Making: Budget assists in decision-making processes by providing a financial perspective. They help in evaluating the financial feasibility of different options and choosing the most viable ones.

When Budget implemented in India

The implementation of the budget in India can be traced back to the colonial period. The British introduced budgetary practices in India, and the first budget of India was presented by James Wilson, the Finance Member of the India council, in 1860. This marked the formal beginning of the budgetary process in India during British rule.

The first budget in India was presented on february 18, 1860, by James Wilson. At that time, James Wilson served as the Finance Member of the India Council, Which was part of the British colonial administration. This event marked the formal beginning of the budgetary process in India during British rule.

NITI Aayog

NITI Aayog, or the National Institution for Transforming India, is a policy think tank of the government of India. It was established on January 1, 2015, to replace the planning commission, which had been in existence since 1950. The formation of NITI Aayog marked a significant shift in the approach to economic planning and policy-making in India. It focuses on a more dynamic and cooperative approach to development planning and policy formulation. It aims to align the diverse interests of states and union territories, fostering a more inclusive and collaborative model of governance.

Budget before and after 2014

The budget before 2014 refers to the period when the united Progressive Alliance (UPA) government, led by the Indian Congress, was in power. The UPA government presented its last full-year budget for the fiscal year 2013-2014. During this period, there were concerns about fiscal deficits, inflation, and economic growth. The budgetary allocations were influenced by the global economic situation and domestic challenges.

After 2014, the National Democratic Alliance(NDA) government, led by the Bharatiya Janata Party(BJP), came to power. Arun Jaitley served as the Finance Minister in the initial years. The budgets presented during this period focused on economic reforms, fiscal consolidation, and boosting infrastructure. The government implemented initiatives such as the goods and services tax (GST) and made efforts to foreign investment.

Highlights of budget 2024

The financial management announced that the same tax rates will be retained inFY 2024-25 for direct taxes. There will be no tax liability for taxpayers with an income of up to Rs. 7 lakh, under the new tax regime.

The FM announced that the average monthly gross GST collection has doubled to 1.66 lakh crore in FY24.

There will be substantive development of all forms of infrastructure, physical, digital and social.

Direct Benefit Transfer (DBT) has led to savings of Rs. 2.7 lakh crore.

1.4 crore youth have been trained under the skill India Mission.

There has been direct financial assistance provided to 11.8 crore farmers under PM-KISAN.

30 crore Mudra Yojana loans have been disbursed to women entrepreneurs.

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technodabhi · 3 years ago

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Strong US-India relationship to strengthen global order: FM Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday said the US-India relationship is at its best and will strengthen the global order in these challenging times. This is one of those times when these two large democracies have found their space and they are comfortable working with each other, she said in a recorded video conversation released by think-tank Atlantic Council. The US-India relationship…

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androidmaniaco · 4 years ago

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India bloquea 'PUBG Mobile' y 'Arena Of Valor', entre otras más de 100 aplicaciones de origen chino

El 29 de junio nos hacíamos eco la noticia: el Gobierno de India barría del mapa 59 aplicaciones chinas, entre ellas TikTok y WeChat. Dicho bloqueo tenía por motivo que las apps podían "ser perjudiciales para la soberanía e integridad de la India, defensa de la India, seguridad del estado y el orden público", un bloqueo que supuso un duro golpe para el software de origen chino. Ahora, en un segundo golpe, India bloquea más de 100 aplicaciones, entre las que se incluye 'PUBG Mobile', uno de los juegos más populares en el mundo.

El Ministerio de Electrónica y Tecnología de la información (IT) ha publicado una nueva lista con una total de 118 aplicaciones. De nuevo, se esgrimen motivos "de seguridad", asegurando asimismo que han recibido "muchas quejas de diversas fuentes, entre ellas varias denuncias sobre el uso indebido de algunas aplicaciones móviles" en Android y iOS para "robar y a escondidas transmitir los datos de los usuarios de manera no autorizada a servidores que se encuentran fuera de la India".

El segundo golpe de India a las apps de origen Chino

India ha bloqueado un total de 118 aplicaciones, entre ellas 'PUBG Mobile' y 'Arena Of Valor', dos de los juegos más populares del mercado móvil. El Ministerio asegura que la decisión se toma por motivos de seguridad, vista "la naturaleza de las amenazas". Según el gobierno han "recibido quejas y varias denuncias" acerca de que algunas de estas aplicaciones, supuestamente, envían datos a servidores que se encuentran fuera de India.

"El Ministerio de Electrónica y Tecnología de la Información del Gobierno de la India invocando su poder en virtud del artículo 69A de la Ley de Tecnología de la Información leído con el disposiciones pertinentes de la Ley de Tecnología de la Información (Procedimiento y Salvaguardias para Bloqueo del acceso a la información por parte del público) Normas de 2009 y en vista de la emergente naturaleza de las amenazas ha decidido bloquear 118 aplicaciones para móviles (véase el Apéndice) ya que en vista de de la información disponible se dedican a actividades que son perjudiciales para la soberanía y la integridad de la India, la defensa de la India, la seguridad del Estado y el orden público."

PUBG Mobile es el nombre más sonado en este lista, un fuerte golpe a la entrega de Tencent. Es curioso asimismo que otros juegos hermanos de PUBG Mobile, como Call Of Duty: Mobile, no se hayan bloqueado. En el caso de PUBG Mobile, según datos de Sensor Tower, se ha descargado más de 175 millones de veces (datos de julio 2020) y ha superado los 1.000 millones de dólares en ingresos a nivel global.

El popular juego se suma a la anterior prohibición, en la que cayeron grandes como TikTok, WeChat o Xiaomi Video Call. Este supone así el segundo gran golpe que recibe el software de origen chino en India.

En Xataka Android

'Remove China Apps': así es la app que triunfa en la India para identificar y desinstalar aplicaciones chinas

Lista de nuevas aplicaciones bloqueadas por el Gobierno indio

APUS Launcher Pro- Theme, Live Wallpapers, Smart

APUS Launcher -Theme, Call Show, Wallpaper, HideApps

APUS Security -Antivirus, Phone security, Cleaner

APUS Turbo Cleaner 2020- Junk Cleaner, Anti-Virus

APUS Flashlight-Free & Bright

Cut Cut – Cut Out & Photo Background Editor

Baidu

Baidu Express Edition

FaceU - Inspire your Beauty

ShareSave by Xiaomi: Latest gadgets, amazing deals

CamCard - Business Card Reader

CamCard Business

CamCard for Salesforce

CamOCR

InNote

VooV Meeting - Tencent Video Conferencing

Super Clean - Master of Cleaner, Phone Booster

WeChat reading

Government WeChat

Small Q brush

Tencent Weiyun

Pitu

WeChat Work

Cyber Hunter

Cyber Hunter Lite

Knives Out-No rules, just fight!

Super Mecha Champions

LifeAfter

Dawn of Isles

Ludo World-Ludo Superstar

Chess Rush

PUBG MOBILE Nordic Map: Livik

PUBG MOBILE LITE

Rise of Kingdoms: Lost Crusade

Art of Conquest: Dark Horizon

Dank Tanks

Warpath

Game of Sultans

Gallery Vault - Hide Pictures And Videos

Smart AppLock (App Protect)

Message Lock (SMS Lock)-Gallery Vault Developer Team

Hide App-Hide Application Icon

AppLock

AppLock Lite

Dual Space - Multiple Accounts & App Cloner

ZAKZAK Pro - Live chat & video chat online

ZAKZAK LIVE: live-streaming & video chat app

Music - Mp3 Player

Music Player - Audio Player & 10 Bands Equalizer

HD Camera Selfie Beauty Camera

Cleaner - Phone Booster

Web Browser & Fast Explorer

Video Player All Format for Android

Photo Gallery HD & Editor

Photo Gallery & Album

Music Player - Bass Booster - Free Download

HD Camera - Beauty Cam with Filters & Panorama

HD Camera Pro & Selfie Camera

Music Player - MP3 Player & 10 Bands Equalizer

Gallery HD

Web Browser - Fast, Privacy & Light Web Explorer

Web Browser - Secure Explorer

Music player - Audio Player

Video Player - All Format HD Video Player

Lamour Love All Over The World

Amour- video chat & call all over the world.

MV Master - Make Your Status Video & Community

MV Master - Best Video Maker & Photo Video Editor

APUS Message Center-Intelligent management

LivU Meet new people & Video chat with strangers

Carrom Friends : Carrom Board & Pool Game-

Ludo All Star- Play Online Ludo Game & Board Games

Bike Racing : Moto Traffic Rider Bike Racing Games

Rangers Of Oblivion : Online Action MMO RPG Game

Z Camera - Photo Editor, Beauty Selfie, Collage

GO SMS Pro - Messenger, Free Themes, Emoji

U-Dictionary: Oxford Dictionary Free Now Translate

Ulike - Define your selfie in trendy style

Tantan - Date For Real

MICO Chat: New Friends Banaen aur Live Chat karen

Kitty Live - Live Streaming & Video Live Chat

Malay Social Dating App to Date & Meet Singles

Alipay

AlipayHK

Mobile Taobao

Youku

Road of Kings- Endless Glory

Sina News

Netease News

Penguin FM

Murderous Pursuits

Tencent Watchlist (Tencent Technology

Learn Chinese AI-Super Chinese

HUYA LIVE – Game Live Stream

Little Q Album

Fighting Landlords - Free and happy Fighting Landlords

Hi Meitu

Mobile Legends: Pocket

VPN for TikTok

Penguin E-sports Live assistant

Buy Cars-offer everything you need, special offers and low prices

iPick

Beauty Camera Plus - Sweet Camera & Face Selfie

Parallel Space Lite - Dual App

"Chief Almighty: First Thunder BC

MARVEL Super War NetEase Games

AFK Arena

Creative Destruction NetEase Games

Crusaders of Light NetEase Games

Mafia City Yotta Games

Onmyoji NetEase Games

Ride Out Heroes NetEase Games

Yimeng Jianghu-Chu Liuxiang has been fully upgraded

Legend: Rising Empire NetEase Games

Arena of Valor: 5v5 Arena Games

Soul Hunters

Rules of Survival

Más información | Comunicado del gobierno de India (PDF)

- La noticia India bloquea 'PUBG Mobile' y 'Arena Of Valor', entre otras más de 100 aplicaciones de origen chino fue publicada originalmente en Xataka Móvil por Ricardo Aguilar .

Xataka Móvil https://ift.tt/3bhd7qU

#Xataka Móvil

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sarkarimirror · 5 years ago

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Government taking cancer care on mission mode, multiple schemes to help patients; says MoS Health at Cancer Summit 2020

Cancer drugs at Jan Aushadhi stores Cost 50-80% less Than Market: Pharma Secretary · The high-level international summit hosted by premier health think-tank Integrated Health & Wellbeing (IHW) Council on the occasion of World Cancer Day · Health expenditure is one of the biggest causes of pushing families below poverty line and the middle-class is particularly vulnerable, Secretary, Department of Pharmaceutical, Dr. P. D. Vaghela. · Ashwini Kumar Choubey, Minister of State, Minister of State for Health and Family Welfare, emphasizes on the need to establish national cancer tissue banks to make treatment accessible to more people. · The summit was supported by Biocon Biologics and global cancer advocacy group Union for International Cancer Control (UICC) New Delhi, 05.02.2020: In a major gathering of health professionals on the World Cancer Day, Minister of State for Health and Family Welfare Shri Ashwini Kumar Choubey has announced that the Narendra Modi-led government has taken up the mission of curbing the dreaded disease from the roots on priority. He also stated that the government has also introduced many schemes and policies for the cancer patients as it has been observed that 50 percent of deaths happen due to the lack of treatment. Ashwini Kumar Choubey, who was addressing Cancer Summit 2020, an initiative of Integrated Health and Wellness Council, said that people should not be scared of the disease and rather should come out in the open as there are many policies in place to take care of their every need. “I am very happy and thankful to the IHW Council that they have taken up the initiative to make people aware about the disease that can take life if not checked on time. The government-funded schemes for cancer patients include Rashtriya Arogya Nidhi under the Ministry of Health & Family Welfare gives financial assistance as one-time grant up to INR 1, 00,000 for BPL patients for treatment at super specialty hospitals/Institutes or other Government hospitals. Another scheme under the Ministry of Health & Family Welfare is State Illness Assistance Fund (SIAF) in which, BPL patients get treatment for cancer or other life-threatening illnesses if they undergo treatment at the government hospitals for costs upto INR 1,50,000. We also need to establish cancer tissue banks to make treatment accessible to more people,” says Shri Ashwini Kumar Choubey, Hon’ble Minister of State, Minister of State for Health and Family Welfare.

Hailing the government’s move to set up Jan Aushadhi stores and regulate drug prices through National Pharmaceutical Pricing Authority (NPPA), Dr. P D Vaghela, Secretary, Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, said it has made cancer drugs affordable to a large section of the affected people and may play an important role in addressing the cancer treatment needs of the Indian middle-class. “Health expenditure in India is INR 2500 per capita, 50 per cent of which is spent for medicine. Health expenditure is one of the biggest causes of pushing families below poverty line and the middle-class is particularly vulnerable. Therefore, we need to encourage the use of generic drugs. The Jan Aushadhi stores supplies 6000 types of generic drugs, including 38 types of anti-cancer drugs and at a price that is 50 to 80 per cent less than the market rate. However, it is only multispeciality hospitals were cancer treatment are carried out. We request such hospitals to open Jan Aushadhi stores at their facilities and urge the practitioners to prescribe generic drugs so that the middle class does not suffer due to cancer treatment expenditure. Generic medicines are as good as branded medicines; in fact, the sample success of generic medicines is higher than the branded ones,” says Dr. P D Vaghela, Secretary, Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers at the first Cancer Summit here organised by the Integrated Health & Wellbeing (IHW) Council. Dispelling the idea that NPPA is a price control mechanism, Dr Vaghela said, “We do not want to control the price but we need to regulate profiteering. Through trade margin rationalisation approach, we have made 42 cancer drugs more affordable to patients – cancer drugs that were earlier sold for INR 10,000 and INR 25,400 are now available for INR 892 and INR 2,510, respectively. It has benefitted 1000 crore cancer patients in India.” The summit is powered by Biocon Biologics, a partner to Union for International Cancer Control (UICC), and Prevention and Public Health Fund (PPHF). Dr. Christiane Hamacher, CEO, Biocon Biologics, Dr. Anil D'Cruz, President-Elect, Union International for Cancer Control & Director, Oncology, Apollo Hospitals, and Dr. Bhawana Sirohi, Director - Medical Oncology, Max Institute of Cancer Care were present at the event along with Mr. Kamal Narayan, CEO, Integrated Health & Wellbeing (IHW) Council. “We want to fight the emperor of all maladies as we can today detect far more cases than before. Also people these days are aware of the cancer-causing physical and environmental factors they need to be cognizant of. I am a cancer survivor myself as I was diagnosed with the disease 8 years ago and was fortunate to have the support of loved ones as well as good health care. The disproportionate strain on family savings when cancer strikes and the dread of cost management is real as although we have many toolkits to diagnose cancer, we are yet to make a significant advance. Women are more prone to cancer as the camps to diagnose breast and cervical cancer are just not available. However, we cannot defeat it alone as we need strong alliance and we can see that Biocon's commitment for affordable cancer care resonates with WHO and Government of India. Every opportunity to look for precancerous lesions should not be missed if you are going for a regular check-up or the gynaecologist’s office as only the can we truly beat it,” says Dr. Christiane Hamacher, CEO, Biocon Biologics. According to the World Health Organization (WHO), one-third of deaths from cancer occur due to 5 leading behavioural and dietary risks. These are high body mass index (BMI), low fruit and vegetable intake, lack of physical activity, tobacco use, and alcohol use. “Cancer is a huge concern and a timely one as over 1300 people die of cancer every year. This causes massive distress on the economy as people who are still in their working years are unable to contribute positively. Today, most cancer deaths are not only caused by tobacco consumption and HPV but are a result of poor environmental and dietary choices. The government has helped people with cancer with Ayushman Bharat and other initiatives. In the recently concluded budget, the FM announced the initiative for TB free India with ‘TB Haarega Desh Jeetega’ message and I hope in the next budget, we have made enough progress to say ‘Cancer Haarega Desh Jeetega’,” saysMr. Kamal Narayan, CEO, Integrated Health & Wellbeing (IHW) Council. The five most frequent cancers in men and women in India are that of breast, cervix, oral cavity, lung and colorectal; together, they cause maximum number of deaths after cardiovascular diseases and are largely preventable. Other sessions at the event included panel discussions on government's perspective on addressing cancer, upgrading the healthcare ecosystem for early diagnosis and initiation of clinical care, accessing state of the art therapeutics at affordable prices, and leadership for an effective cancer response. About Integrated Health and Wellness Council IHW Council is a not-for-profit organization that works towards creating awareness and advocacy for a healthier world. The Council’s past initiatives such as India Health and Wellness Summit, CSR Health Impact Awards, Ayushman Bharat Conclave and CME Excellence Awards have been witnessing support and participation from India's political leadership, law makers, policy bigwigs, industry captains, civil society, and academia. Read the full article

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abhigunjal · 5 years ago

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Market NEWS: The Ammunition Handling System Market Is Estimated To Be USD 2.30 Billion In 2017 And Is Projected To Reach USD 3.50 Billion By 2022, At A CAGR Of 8.75% From 2017 To 2022

According to the new market research report "Ammunition Handling System Market by Platform (Land, Airborne, Naval), Weapon Type (Cannons, Gatling Guns, Machine Guns, Main Guns, Launchers), Feeding Mechanism (Linked, Linkless), Component, Mode of Operation, and Region - Global Forecast to 2022",. The increasing demand for remote weapon stations, tank turrets, and naval guns from military forces worldwide and rising incidences of asymmetric warfare across the globe are key factors driving the growth of the ammunition handling system market.

Browse 168 market data Tables and 56 Figures spread through 177 Pages and in-depth TOC on "Ammunition Handling System Market - Global Forecast to 2022"

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Based on platform, the land segment is projected to lead the ammunition handling system market during the forecast period

Based on platform, the land segment is expected to lead the ammunition handling system market from 2017 to 2022. Ammunition handling systems identify and locate selected ammunition rounds in a magazine, and transfer the chosen rounds to a weapon for firing. The demand for main battle tanks and armored fighting vehicles has increased across countries worldwide, thereby driving the growth of the ammunition handling system market in land platform.

Based on feeding mechanism, the linkless segment of the ammunition handling system market is expected to grow at the highest CAGR during the forecast period

Based on feeding mechanism, the ammunition handling system market has been segmented into linked and linkless. The linkless segment is projected to lead the ammunition handling system market from 2017 to 2022. The linkless ammunition feed mechanism allows loading of ammunition in weapons through conveyor systems. This mechanism also helps download the used cases and unfired rounds. The growth of the linkless segment can be attributed to the need to enhance firepower of gun systems, the increase in military modernization programs, and procurement of new military equipment.

The ammunition handling system market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period

The growth of the ammunition handling system market in the Asia Pacific region can be attributed to increased defense spending of emerging countries, such as India and China. These countries are focused on the development of advanced warfare systems for military applications.

Major players operating in the ammunition handling system market include Meggitt Defense Systems (US), General Dynamics (US), McNally Industries (US), Nobles Worldwide (US), and Curtiss-Wright (US).

Know more about the Global Market:

https://www.marketsandmarkets.com/Market-Reports/ammunition-handling-system-market-249079723.html

Browse Related Report

Flight Simulator Market by Application (Military, Commercial), by Type of Flight (Fixed Wing, Rotary Wing, Unmanned Aircraft), Military Component (FFS, FMS, FTD), Commercial Component (FFS, FBS, FTD), Geography - Global Forecast to 2021

https://www.marketsandmarkets.com/Market-Reports/flight-simulator-market-22246197.html

Soldier Systems Market by End User (Military, Homeland Security), Type (Personal Protection, Communication, Power and Transmission, Surveillance and Target Acquisition, Navigation and Health Monitoring, Vision), Region - Global Forecast to 2023

https://www.marketsandmarkets.com/Market-Reports/soldier-system-market-137230260.html

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sameeksha-4717 · 15 days ago

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#FM global tanks #FM global tanks in Pune #FM global tanks in India #coepprefabwatertanks storage tanks in India

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harshdakadam · 2 months ago

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FM Global Tanks in Pune | Reliable Fire Protection and Water Storage Solutions

For industries that prioritize safety and fire protection, FM Global tanks offer an essential solution. Designed to meet strict fire safety standards, these tanks provide reliable water storage for fire suppression systems. Whether you're looking for FM Global tanks in Pune or across India, our tanks deliver exceptional quality, durability, and compliance with FM Global standards.

FM Global Tanks: Fire Protection You Can Trust

FM Global tanks are engineered to provide effective fire protection by ensuring a consistent water supply during emergencies. As fire safety is critical for industrial and commercial facilities, our FM Global tanks in India are built to meet international safety standards, giving you peace of mind that your facility is well-protected. These tanks are highly durable and designed to withstand extreme conditions, making them an essential component of any fire suppression system.

Glass Fused Steel Tanks (GFS Tanks)

For industries requiring superior storage solutions, our glass fused steel tanks (GFS tanks) are an excellent option. The fusion of glass and steel creates a strong, corrosion-resistant tank that can handle various industrial applications. As a leading glass fused steel tank manufacturer near you, we ensure that our tanks meet the highest industry standards, offering unmatched durability and longevity.

Steel Bolted Water Tanks

In addition to FM Global tanks, we offer steel bolted water tanks that are modular and easy to install. These tanks are ideal for industrial settings where flexibility and quick assembly are required. Our FM Global tank solutions also include steel bolted water tanks for reliable and customizable storage.

Fire Protection Tanks in India

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forcinduct · 6 years ago

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Maserati Launched its Ghibli in India on 15th March 2018, seen less on the road but one hell of a sedan. The Ghibli is provided in three different trims: Diesel which is Priced at 1.53 Crore GranLusso is Priced at 1.59 Crore and, GranSport at 1.63 Crore.

Ghibli have a mighty 3.0L Engine producing top power of 275hp@4000rpm along with top toque of 600Nm@2000-2600rpm.

Maserati Ghibli Specification:

Year 2018 Make Maserati Model Ghibli Derivative 3.0 V6 Diesel, GranLusso Number Of Doors 4 Body Type saloon Engine Size CC 2987 Cylinders 6 Valves Per Cylinder 4 RPM For Max Power 4000 Maximum Power hp/PS 275 Euro NCAP Percent Driver 95.00 Euro NCAP Percent Pedestrian 74.00 Euro NCAP Percent Child 79.00 Maximum Torque Nm 600 RPM For Maximum Torque 2000 Fuel Type diesel Emission Class EU6.2 (C and D-Temp) Transmission Automatic with manual mode Number Of Speeds 8 Driven Wheels Rear Urban l/100km 7.7 Urban mpg (UK) 36.7 Extra Urban l/100km 4.9 Extra Urban mpg (UK) 57.6 Combined l/100KM 5.9 Combined mpg (UK) 47.9 CO2 g/km 184 Max Speed mph 155 Max Speed km/h 250 Acceleration 0-62 mph 6.3 Parking Sensors (Front) radar Parking Sensors (Rear) radar Radio AM/FM CD (Single in dash) yes RDS yes Sat Nav standard DVD/VCD standard Fuel Tank Litres 70 Length mm 4971 Width mm 1945 Height mm 1461 Wheelbase mm 2998 Kerb Weight kg 1835 Main Service Interval Miles 12427 Main Service Interval km 20000 Main Service Interval Months 24 Wheelbase Type short Gross Vehicle Weight kg 2500

It also comes in 9 niche and sporty colors:

Options for Interiors are provided as well:

You can also choose the type of alloys you want for your Maserati among the factory options provided:

Maserati Ghibli Wallpapers and Gallery:

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empibschool-blog · 6 years ago

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1st Feb: A Pivotal Day! Know Why..!!

February 1. An important day. Possibly a day to remember that change substantially the way Indian economy functions. We don’t know yet and only have to wait and watch. It is the much awaited BIG BUDGET DAY.

What is in it for you, and why this budget matters?

It is different in so many days. To start with the date - Feb 1 is something new and was fought for finally getting the “Go ahead’ from the Supreme Court and the Election Commission in the year 2017 for the first time. . For all that I can remember the Central Budget has been traditionally presented to the Parliament only on 28th February, full four weeks later. With the normal date the time when the money bill is finally passed after the usual hungama , dramabaazi and heated arguments in Parliament it would be too late in the day for the allocations for much of the social sector spending to be allocated and funds drawn to be available for spending when the normal financial year starts on April 1. That was the argument put up by the present government good four months back and had the tacit acceptance by the opposition parties.

More important: Demonetization had taken place which had put severe strain on the economy pulling down growth by almost one per cent of GDP.

Last two years India benefited enormously by the steep drop in oil prices and commodity prices also coming down considerably. There is a possibility that both are likely to move up now onwards. Election of Trump and the new love for protectionism in the US, Europe and other major importers are going to affect Indian Economy. Worse, Trump expectation of reciprocal import measures, patent negotiations, would matter much. On top of that India’s commitments for Climate and Global Heating can be a drain , particularly with no funds promised by the wealthy nations forthcoming and Trump renaging on US position on Climate.

Inequality is very much on the rise and visible everywhere. Even in India and the Government has to do something quick for this.

However Indian Governments performance on the taxation front is all along been miserable. From the 125 crore population only about 4 crore pay income tax, the rest are not covered. Much of the revenue comes from the Indirect Taxes which is considered to be regressive

It is not yet very clear whether it is going to be a Full Budget or an Interim Budget or just a Vote on Account. A Full Budget is one in which all budgetary proposals are made to cover the whole financial year. Some experts are of the opinion that the Government is in its right to present one while many others say that in view of the impending General Elections in April-May the government can only present an Interim Budget and make a Full budget when the new Government takes charge, A Vote on account is something which carries on the receipt and expences are put up on prorate basis for only the next couple of months

So quite likely the Finance Minister would be presenting the Vote on Account in the Parliament. This is not exactly the Union Budget proper, but an interim Funds Proposal to tide over the couple of months till the new Parliament assembles and the new government prepares and presents the Budget for the balance period of the year.

Be that as it may it does still have much of the Budget characteristics which you have to understand. I suggest that you go through all the newspapers carefully for the next three or four days.

Newspapers notwithstanding, Budget is a complex technical matter and I intend to start giving you a series of inputs and explanations on the Budget process and contents starting with this. So here goes:

Work on Budget making starts almost as early as Nov-Dec. Various arms of the Government start collecting relevant final figures on a variety of subjects and sectors .The Finance Ministry starts tapping the opinions of Economic think tanks, Industry Chambers etc. When I was in AUE(I) Ltd, our spokesperson was the PHD Chambers. When in PSU we approached the SCOPE, DPE, Department of Heavy Industry of Ministry of Industry etc in addition to informally getting through CII. These are for including in the Budget some provisions, concessions, exemptions etc related to various taxes, programs, investments etc

And immediately after the Budget announcement it was my duty from Corporate Finance/BHEL to ask for and collect from the 5 major manufacturing divisions and the three Business Divisions, as also the GMs dealing with Income Tax and Indirect Taxes the impact of the Budget on their operations in money terms. In addition the remarks of media/ Chambers other experts etc would be examined carefully to compile a comprehensive report to be sent to the department of HI/Ministry of Industries since it would affect the Government also as the major shareholder in the PSU. Obviously similar operations would be happening across the country in all the Corporates, particularly the large groups.

During the 70's and 80's when there were no computers and advanced telecom. a bunch of officers would be locked up for almost a month in the North Block working on the Budget with adding machines. They would have no contacts even with their own families for the duration. This year with all the number crunching machines available the trauma lasted only for about ten days. You may have read about this about a week back in the news papers. This is to ensure secrecy of Budget proposals. With the advent of computing and communications this has become less time consuming and more comprehensive. The confidentiality of Budget making inherited from the British system still remains.

A little aside about the North/South Blocks. South Block on top on the Raisina Hills to the right of the Rashtrapati Bhawan houses the Prime Minister’s Office, Min of External Affairs etc. We had no business with this Block. We in the company were more concerned with the North Block, the identical set of buildings across and nearer to the Central Secretariat Bus stand which contained the Finance Ministry, Policy making offices of Income Tax , Central Board of Excise & Customs etc. But beyond the South Block were what was called the Barracks which held the Member Audit Board 3 of the C&AG with which also we were concerned]

The Budget week starts with the tabling of the Economic Survey prepared by the Department of Economic Affairs wing of the Ministry. This gives a broad sweep of the nation's economy in various spheres and also go on to give the Govt's view on the work to be done.

Before 2017 the Railway Budget was presented by the Rail Minister. This again is a handover from the British era when the Railways constituted a huge part of Govt. operations. Still it does with a huge network, massive employee strength and substantial impact on the economy. Any changes in the tariffs and fares would impact every section of the society every industry and every consumer. Setting up of even a medium size railway workshop in any place can generate thousands of jobs directly and indirectly in that area have considerable economic boon for that area. However from 2018 the Railway Budget also was merged with the main Budget and presented by the Finance Minister only.

Then comes the presentation of the Union Budget. Can you imagine the Budget was presented in the Parliament before 1991 at 5 PM IST!. Guess the reason why and check with my explanation given at the end of this dispatch. For the first time the Budget was presented in the morning in 1991 Mr Jaswant Singh . In fact this budget had a lot of drama attached to it and scheduled to be presented at 10 am it could be finally read out only at 11 am after the Parliamentary hungama abated.

When the Budget is presented you might also see some amusing spectacles. When the FM comes with his proverbial brief case both the junior Ministers would also try to jostle for space on the first row at the photo session before the news cameramen . When the Budget is read out by the FM sudden comradeship sparks among the Treasury benches with every one trying to fin d a seat just behind the FM to be within the camera angle. Parliamentarians who are so casual in attending official Sessions turn up with alacrity and in their best dresses well before time to capture vantage seats. Please do make an effort to see the Budget presentation in TV or on the networks. Try to follow the analysis given by the experts in various channels. Follow up with reading as many newspapers as possible in the next few days. You may not probably comprehend much but being confused at a higher level is better than being totally ignorant.

Different Finance Ministers (FMs) also bring in their own individual styles. Dr. Manmohan Singh would usually start with an Urdu couplet and his soft monotone speech would contain frequent Urdu poets . With Mr Chidambaram you can be certain of a few quotations from SageThiruvalluvar in Tamil. Pranab da would have alluded to some classic quotations in his heavily accented Binglish. They are so serious reading that even occasional jokes sound heavy. The only person in the Finance Ministry with a sense of humour was Mrs Tatakeshwari Sinha of yore, but she was only a Deputy Minister and hence could not present the Budget.

UNION BUDGET :

The Budget Documents come in several parts, about a dozen if my memory serves correct. The main ones are Part A which is the Budget Speech and Part B which consists of Taxation Proposals, both Direct (Income Tax) and Indirect , called GST.

Part A describes the macroeconomic aspects of the Indian economy detailing the broad outlay of funds for different sectors , introduction of new schemes, priorities of the Government and focus areas etc. Parliamentarians and TV viewers slowly start getting bored of this ling winded preliminary part and suddenly jerk into attention when they hear the words " And now Mr Speaker, I present the 'Ways and means of securing the necessary funds" For this p Part B details the taxes for the forthcoming year.

The Budget would give a summary of the intended expenditure along with how these expenditures are going to be met. These could be from taxes, grants , borrowings etc.

In a household budget also you estimate the total receipts on one hand and list out the potential expenses on the other. and pray that the receipt side is heavier. Usually it is . If not you try to borrow to make up. A country's budget is invariably in the red, meaning the receipts smaller than the planned expenses. Then how does the country run? It borrows. From the market, from other countries or from international institutions. .

WHERE DOES THE MONEY COME FROM:

Mainly from Taxes. There are also some non-tax revenues Let us get to know them more in detail:

TAX RECEIPTS:

Taxes can be of two types : Direct Taxes and indirect Taxes.

Direct Taxes

Direct Taxes are levied on Individuals like you and me, Companies etc.

The present Tax rate on Companies is 30% on their net income. (This is a general statement . A lot of other things are to be worked out on the taxes that companies pay. How do you think all these Chartered Accountants, Tax consultants and lawyers earn their daily bread ;-).). For individuals taxes are on slab basis depending upon the net taxable income. Individuals have to start payinf Income Tax only beyond a certain level of income . Here the number of individual IT Payer in In India is abysmally small compared to the population figure.

Minimum Alternate Tax. Companies are very intelligent. They rarely pay the stipulated 30% tax and the above gents find all kinds of legitimate loopholes to keep the tax paid low. If ultimately a companies tax rate turns out to be less than 10% it has to pay MAT @15% on book profits.

INDIRECT TAXES:

Indirect Taxes apply upon everybody.So almost the entire population is covered to some extent or other. These are taxes on things that we buy - goods and services. Since it is very widely spread the government prefers to take this route. more often than not. Earlier w used to have these under different heads like Excise Duty, Customs Duty and Services tax Since GST has been implemented all these have merged into GST.

However let us understand what were the areas which were taxed under these heads earlier

Excise Duty: This is the tax on any item manufactured in the country. Every time you buy a pack of matches a small part of the price has already been recovered at the factory itself as ED.

Customs Duty: You can not impose excise on imported goods. Plus certain other economic objectives like protecting local industries by tariff barriers are also involved. This is done through customs duty which is levied on imported goods. In addition there is also something called counter vailing duty on certain goods for which exact replacement is available within the country .

Service Tax: Services are also a type of good availed by us, only it is not manufactured but provided by human intervention. This also causes expense for the user and income for the provider. This expense is brought under the service tax. More than a hundred services which we avail like telephoning, eating out, etc are taxes this way.

You should get to know some more minor technical terms to follow the Budget Speech:

SOME MORE INCOME THROUGH NON-TAX ROUTES:

Though Railways is a separate Ministry the Railway revenues also get added to the Consolidated Fund which is the total revenues collected by the Govt.

There are a large number of Public Sector Undertakings. Central Govt is the owner of these to the extent of various degrees of disinvestment. Most of them get Govt loans. Interest on these loans are Non-Tax revenues. Several of them are profit making and the dividends are also another source. Interest on loans to the states is another major source. (Students from Calcutta may remember the huge ruckus created by Mamta Di on the interest on loans taken by the Left Front Government couple of years back) Government gets income from other services it provides to the public.

PUBLIC DEBT :The general public lodges a huge amount of money with the government . This is a source of fund but has to be eventually paid back (with interest). The amount in store with the Govt through PPF, Post Office Savings, National Savings Certificate Kisan Vikas Patra, Provident Fund etc all come under this.

In addition the Govt. periodically sells Treasury Bills (T-Bills) with maturity dates less than one year to fund short term mismatches of receipts and payments. Long Term Loans are raised from the market by issue of Dated Securities .It can also borrow from the Reserve Bank of India for short duration needs. called Ways & Means Advances.

WHERE ARE THESE RECEIPTS ACCUMULATED:

CONSOLIDATED FUND :

All the revenues mentioned above get into the Consolidated Fund . Expenses are made from this pool

CONTINGENCY FUND : You read about something called Petty Cash Reserves in your Accounts lessons. Just like that a small reserve ofRs 500 Crore is maintained separately for any urgent or unforeseen expenditure etc. Whatever amount is drawn from this has to be made good from the Consolidated Fund.

Prof. A.V.K. Murthy EMPI Business School

#budget2019 #budgetfornewindia #budgetsession2019 #piyushgoyal #financeminister #interimbudget2019

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coin-news-blog · 5 years ago

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India Facing ‘Unprecedented’ Economic Slowdown, Extraordinary Steps Urged

New Post has been published on https://coinmakers.tech/news/india-facing-unprecedented-economic-slowdown-extraordinary-steps-urged

India Facing ‘Unprecedented’ Economic Slowdown, Extraordinary Steps Urged

Many signs indicate that the Indian economy is under grave stress, affecting nearly all sectors. “India’s economy is in a deep mess,” due to initiatives such as demonetization and GST, some lawmakers say, as they urge the government to handle the situation “which is intensifying on a daily basis.”

‘Unprecedented Situation’

India is facing an economic slowdown not seen in 70 years, Rajiv Kumar, the vice-chairman of Indian policy think tank Niti Aayog, explained at the Hero Mindmine summit last week. The current liquidity crisis has forced businesses to survive on cash since lenders have stopped funding them, he described. “Within the private sector nobody is ready to lend, everyone is sitting on cash.” The vice-chairman was quoted by local media as saying:

This is an unprecedented situation for the government of India. In the last 70 years nobody had faced this sort of situation where the entire financial system is under threat and nobody is trusting anybody else.

Rajiv Kumar

Randeep Surjewala, a spokesperson for the Congress political party (Congress), concurs that this is India’s worst liquidity crisis in 70 years, calling for the government to take immediate action. Parliament Member and Congress leader Rahul Gandhi said Friday that the “Government’s own economic advisors have finally acknowledged what we cautioned for long – India’s economy is in a deep mess.”

Every Sector Is Suffering

Parliament Member and Congress spokesperson Manish Tewari held a press briefing Friday regarding the financial downturn. The former Union Minister commended Niti Aayog’s vice chairman for admitting that the current stress in the financial sector is unprecedented. However, he added that Kumar’s statement requires a slight amendment, declaring that “It’s not just the financial sector, it’s the Indian economy.”

Chief Minister of the India state of Rajasthan, Ashok Gehlot, told the press that the “Crisis situation in [the] Indian economy as reflected in the statement of Vice Chairman, Niti Aayog, is a matter of grave concern for the entire nation,” emphasizing:

Almost all sectors are facing problems, lakhs [ of people are losing jobs.

Ashok Gehlot

Tewari shares the sentiment, stating that “Every sector of the economy is under grave stress,” pointing out that over three crore (30 million) people are currently facing a threat of becoming unemployed. According to textile industry participants, “this is perhaps the worst period which the industry has seen in the past 7 decades,” Tewari conveyed during the press briefing. The “inner-wear industry” is also suffering, he noted, adding that “The tea industry is facing [an] unprecedented crisis.”

In a press conference, Parliament Member and Congress spokesperson Abhishek Singhvi raised the issue of the slowdown in the automobile sector, with reports suggesting thousands of job losses there and in ancillary industries. Moreover, the real estate sector has a huge amount of unsold inventory while fast-moving consumer goods (FMCG) companies have reported a decline in volume growth. Singhvi also named several other issues, including crashing stock prices, the rising fiscal deficit, falling GDP figures, the continuous weakening of the rupee, and falling foreign direct and portfolio investments, PTI reported.

Auto Industry and Shadow Banking Crisis

A Non-Banking Financial Company (NBFC) crisis, also called a shadow-banking crisis, lies at the heart of the current economic slump in India. In recent years, shadow banks helped fund nearly 55-60% of commercial vehicles both new and used, 30% of passenger cars and nearly 65% of the two-wheelers in India, according to rating agency ICRA.

Following last year’s collapse of Infrastructure Leasing & Financial Services Ltd. (IL&FS), shadow banks have dramatically slashed lending. The year-long shadow-banking crisis has sent the credit profiles of Indian companies to a 19-month low in July, according to a Care Ratings index. In her July budget speech, the finance minister announced a series of reliefs to NBFCs facing a cash crunch. Meanwhile, the Reserve Bank of India (RBI) cut its benchmark interest rate last week for the fourth time this year.

“The slowdown in the (NBFC) sector has dragged down vehicle sales growth,” A.M. Karthik, financial sector head at ICRA, was quoted by Reuters as saying. “Now the auto slowdown is becoming more visible as the liquidity squeeze continues.”

Some 286 dealerships across India have shut down in the last 18 months due to rising costs for inventory management, according to the Federation of Automobile Dealers Association (FADA), which says that the Indian auto sector faces its biggest slump in nearly two decades. Passenger vehicle sales fell for eight straight months until June, the news outlet described, noting that sales dropped 20.55% in May – the sharpest recorded fall in 18 years. PTI publication wrote:

Sales have fallen in 12 out of 13 months since July 2018, underscoring the sharp slowdown in the world’s fourth-largest automobile market.

Demonetization, GST, and Other Issues

Kumar said the government needs to take “extraordinary steps” to handle the ongoing economic slowdown, IANS publication reported. “It takes a lot of courage to break the inertia … I think the government must do whatever it can to take away some of the apprehension of the private sector,” he was quoted as saying. According to him, the entire economic situation in India had changed after implementation of initiatives like Modi’s 2016 demonetization, the GST (Goods and Service Tax), and the Insolvency and Bankruptcy Code.

Former Minister of External Affairs and Congress member Salman Khurshid told the news outlet that the Indian economy needed a fundamental operation and restructuring, reiterating that the demonetization and the GST are the reasons behind the slowdown. Another Congress spokesperson, Pawan Khera, told the publication that “We have been raising concerns of unemployment, a complete downward trend of the economy, adventurism being indulged in by the prime minister such as in demonetization and GST. These are blunders which are monumental.”

Surjewala also slammed the government for its decision on demonetization and GST. “Three years after the introduction of the faulty GST, India continues to suffer massive shortfalls in revenue,” he opined, adding that “five years of economic mismanagement with sr. economic advisors resigning one after another, 2 RBI govs. leaving in quick succession, Economic quackery like demonetization, Are we surprised that the rupee is Asia’s worst-performing currency?”

Finance Minister’s Reply

After being criticized for her silence, Finance Minister (FM) Nirmala Sitharaman held an unprecedented press conference Friday to address the country’s economic concerns, local media reported. Among other initiatives to boost the economy, she announced capital infusion of Rs 70,000 crore into public sector banks to boost lending and improve liquidity in the financial system. Funding will also increase for housing finance companies as well as the National Housing Bank (NHB).

Sitharaman claimed that, despite the slowdown, India’s economy is still doing better than other countries such as the U.S. and China. Congress disagreed, tweeting that “You cannot make a growth rate comparison without looking at base levels … Our growth rate may be higher than US & China, but they are a $21 trill & $14.8 trill economies respectively, we are $2.8 trill.”

Nirmala Sitharaman

Further disputing the finance minister’s explanation, Congress wrote, “She may have also forgotten that in 2008 during the global recession, our economy remained stable because of Dr. Manmohan Singh’s policies,” emphasizing:

FM says India’s economy is down because of global situation – conveniently ignoring the simultaneous destruction by Demonetisation & GST … India is in dire need of an FM with a basic understanding of economics.

Despite his statement about the unprecedented financial slowdown, Kumar assured people on Twitter that “There is no need to panic or spread panic,” adding that “the government has been taking bold steps to accelerate our economy & will continue to do so.” Tewari is less confident. “The government does not have a clue as to how they are going to handle this crisis in the Indian economy which is intensifying on a daily basis,” he said during Friday’s press conference at his party’s headquarters.

Bold Reforms, Private Sector, Remonetization

Niti Aayog’s vice-chairman has asked the government not to hold back due payments to the private sector. Regarding the country’s NBFC crisis, he said the government would need to “eliminate apprehension from the minds of private sector players” to boost investments.

Raghuram Rajan

Former RBI Governor Raghuram Rajan also sees investments from the private sector as a solution. In an interview with CNBC TV18 last week, he said that the government needs to fix the immediate problems in power and non-bank financial sectors. The former central bank governor believes that “a fresh set of reforms” is needed to incentivize the private sector to invest to boost the economy and growth rate, stating:

We also need a new set of reforms, which energize [the] private sector to invest.

“SOPs (standard operating procedures), stimulus of one kind or the other are not going to be that useful in the longer-term especially given the very tight fiscal situation that we have,” he told the media outlet. “Instead bold reforms, well thought out jumping off the cliff but really, seriously thought out reforms in a variety of areas which energize the Indian people, energize the Indian markets and energize Indian business.”

Congress’ Gandhi suggested the government should “remonetize the economy, by putting money back in the hands of the needy & not the greedy.” Meanwhile, the Indian government is deliberating on a bill which seeks to ban cryptocurrencies, and the supreme court has ordered the RBI to reply to crypto exchanges’ representation.

Source: news.bitcoin

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postolo · 6 years ago

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SLS NOIDA conducts Certificate Course on Public Policy

Symbiosis Law School, NOIDA and the Outreach and Training Division of the Centre for Civil Society, New Delhi (CCS Academy) collaborated to conduct a Three day Certification Course on Public Policy, called “ipolicy” on July 20-22, 2018 . The Course focused on liberal approaches to public policy, aspects of individual liberty and institutional accountability.

Over the past several years, CCS Academy has the privilege of conducting the said programs in leading Indian colleges like IIM Ahemdabad, FMS, IIT-Delhi, IIT Madras, IIT Mumbai, ISB-Hyderabad, Delhi School of Economics, National Law School-Bangalore, St Stephens-Delhi and St Xaviers-Mumbai, to name a few.

The resource person for the course were Mr. Parth J. Shah, President, Centre for Civil Society, Mr. Shubho Roy,Legal Consultant, National Institute of Publica Finance and Policy (NIPFP) and Mr. Yugank Goyal, Founding Faculty Member, O P Jindal Global University

About the resource persons

Mr. Parth J. Shah, President, Centre for Civil Society

Mr. Parth’s research and advocacy work focus on the themes of economic freedom (law, liberty and livelihood campaign), choice and competition in education (fund students, not schools), property rights approach for the environment (terracotta vision of stewardship), and good governance (new public management and the duty to publish). He has published extensively in international and Indian journals, on various topics from currency regulation to education policy. He holds a PhD in Economics from Auburn University, and taught at the University of Michigan.

Mr. Shubho Roy, Legal Consultant, National Institute of Publica Finance and Policy (NIPFP)

Mr. Shubho is a Legal Consultant at National Institute of Public Finance and Policy. He is a member of the research team for the Financial Sector Legislative Reforms Commission. This involves research support to one of the largest legislative redrafting projects India has undertaken to revamp the regulation of the financial sector. Previously, he has served as a law clerk to a judge at the Supreme Court of India.

Mr. Yugank Goyal, Founding Faculty Member, O P Jindal Global University

Mr. Yugank Goyal received his Ph.D. in Economics and Law from University of Hamburg, Erasmus University Rotterdam and University of Bologna as Erasmus Mundus Fellow. He has an LL.M. from University of Manchester and Bachelor of Technology from NIT Surat, India.

Mr. Yugank is a founding faculty member of OP Jindal Global University. In addition to helping establish the University, he spearheaded several institution building initiatives, including designing curriculum and academic policies of the University in its formative stage. Between 2009 and 2012, Mr. Yugank was the Assistant Professor and Assistant Dean (Research & International Collaborations) at Jindal Global Law School. In his capacity as Assistant Dean, he cultivated research architecture of the law school and led its collaboration with world’s leading law schools and think tanks around the world.

The post SLS NOIDA conducts Certificate Course on Public Policy appeared first on SCC Blog.

SLS NOIDA conducts Certificate Course on Public Policy published first on https://sanantoniolegal.tumblr.com/

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diplomatarmored · 6 years ago

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abhigunjal · 5 years ago

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Ammunition Handling System Market | High Cost of Composite Link less Ammunition Feed Systems global Forecast 2022

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Based on platform, the land segment is projected to lead the ammunition handling system market during the forecast period

Based on feeding mechanism, the linkless segment of the ammunition handling system market is expected to grow at the highest CAGR during the forecast period

The ammunition handling system market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period

Major players operating in the ammunition handling system market include Meggitt Defense Systems (US), General Dynamics (US), McNally Industries (US), Nobles Worldwide (US), and Curtiss-Wright (US).

Know more about the Global Market:

https://www.marketsandmarkets.com/Market-Reports/ammunition-handling-system-market-249079723.html

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