INDIA’S GDP TO GROW AT 7.4% THIS FISCAL: SITHARAMAN - The Daily Guardian
Connect with us

News

INDIA’S GDP TO GROW AT 7.4% THIS FISCAL: SITHARAMAN

Published

on

INDIA’S GDP TO GROW AT 7.4% THIS FISCAL: SITHARAMAN
Union Finance Minister Nirmala Sitharaman

Highlighting the recovery of the economy and flow of investment post-COVID pandemic, Union Finance Minister Nirmala Sitharaman on Friday said that India’s Gross Domestic Product (GDP) is expected to grow at 7.4 per cent in the financial year 2022-23 and will continue at the same level in the next fiscal.

Speaking at an event, Sitharaman said, “India is still the fastest growing economy. We are definitely at the range of 7.4 per cent (GDP). The level will continue even

the next year.” She said the government’s estimation is based on developments. The Minister emphasized that global agencies like International Monetary Fund (IMF) and the World Bank have also projected India’s growth to be the fastest for the next two fiscal years. And the estimations she said are similar to what the Reserve Bank of India (RBI) has predicted.

Sitharaman expressed her concern about the export sector keeping the slowdown in the economies across the world in mind. “We have to be ready to face the challenges, the challenges in the exports. We have to see how our exports can be supported the best,” the Minister said.

She further stressed the need for a comprehensive debate on the freebies issue. Sitharaman said that political parties making promises prior to elections should make budgetary provisions to take care of expenses and avoid burdening other institutions.She said, “It is an important issue that India should debate and all of us have to join the conversation (on freebies). The first thing is all of us do recognise that there is an issue. Our government is very conscious of what constitutes freebies. It is one thing to empower people and ensure to provide all kinds of assistance so that they come up out of that mire and be able to do their own afterwards.”

“But it is a totally different thing when you talk about it in the sense of entitlement. If a promise has been made to the people, let us say at the time of the election because you are looking at a quid pro quo. You should, as a responsible party assume after you come to power make sure a budget for it. And that payment should go through as a budgetary provided payment. For say, if you wish to give free electricity, make it a provision that a number of units to that many numbers of people will cost that much and that amount is provided for your budget and that goes to the DISCOMs and that goes to the GenCos. It should go. Your promise of a freebie cannot be a burden to somebody else.”

Asked about the RBI’s recommendation of incurring a charge on the Unified Payments Interface (UPI), Sitharaman said the government believes it is not the right time to make digital payments chargeable. “We see digital payment as the public good. People should be able to access it freely so that the digitisation of the Indian economy becomes attractive. Also through digitisation, we achieve a level of transparency which is so required. Therefore, we still think it is not the right time of charging it. We are more and more pushing toward open digital transactions, digitisation and platforms which can enable great access. The RBI’s recommendation is to a working paper and let the working paper where it is,” she added.

The Daily Guardian is now on Telegram. Click here to join our channel (@thedailyguardian) and stay updated with the latest headlines.

For the latest news Download The Daily Guardian App.

News

Congress stalwart in himachal Harsh Mahajan joins BJP, says ‘Congress leaderless’

Published

on

In a major jolt to the Congress ahead of the Himachal Pradesh Assembly elections later this year, the party’s state unit working president, Harsh Mahajan joined the Bharatiya Janata Party on Wednesday. Mahajan joined the BJP in the presence of Union Minister Piyush Goyal in the national capital. While joining the BJP, he said that Congress has become “directionless and leaderless”.
He further added, “At the national level, the Congress Party stands directionless and lacking in vision, faced with a crisis of leadership, tainted by sycophancy and corruption. This has translated into a diminishing of its numbers, with some of the tallest leaders and stalwarts of the Grand Old Party being compelled to leave its ranks despite years of dedicated service to the organization.”
“That the party lacks democracy is a given, with ‘pick and choose’ stooges calling the shots – the politician- bureaucrat- businessman nexus that runs it has sealed its fate with scams and high levels of corruption rampant on every front. The people of India have seen through the party and have repeatedly voted it out of power, which is why its political space has been occupied by others at both the National and State levels,” the veteran leader said in a written statement.
“Rahul Gandhi has proved to be lacking in both acumen and maturity. Since the party continues to be a family fiefdom, the party today stands fossilized and lacks credibility.

Continue Reading

News

Centre extends free ration scheme for 3 more months, PM says ‘will benefit crores’

Published

on

Narendra Modi

The government on Wednesday extended Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY) for three more months so that poor and vulnerable sections are supported for the major festivals including Navratri, Dussehra, Milad-un-nabi, Deepawali, Chhath pooja, Gurunanak Dev Jayanti and Christmas.
In a tweet, the Prime Minister Narendra Modi later said the Union Cabinet’s decision to extend the Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY) will benefit crores of people across India and ensure support during this festive season.
“Today’s Cabinet decision to extend the Pradhan Mantri Garib Kalyan Ann Yojana will benefit crores of people across India and ensure support during this festive season,” PM Modi said in a tweet.
The scheme will continue till December this year. Briefing reporters after a meeting of union cabinet, Information and Broadcasting Anurag Thakur said the Cabinet has approved the extension of the PMGKAY scheme for another three months.
He said the scheme, which was ending on Friday, will now run through 31 December 2022, Anurag Thakur said.
An official release said at a time when the world is battling with the effects of Covid on its decline and insecurity due to various reasons, India has been successfully maintaining food security for its vulnerable sections while taking necessary steps to keep availability and affordability for the common man.

Continue Reading

News

Lt General Anil Chauhan (retd) new Chief of Defence Staff

Published

on

The government on Tuesday appointed Lt General Anil Chauhan (retired) as the new Chief of Defence Staff (CDS). He had retired as the Eastern Army Commander in May last year and was serving as the Military Advisor to the National Security Council.
This is the first time that a retired officer has been appointed at this position for which a gazette notification was issued to announce the change in rules for the appointment. In a career spanning over nearly 40 years, Lt Gen Chauhan has held several command, staff and instrumental appointments and had extensive experience in counter-insurgency operations in Jammu and Kashmir and northeast India.
He will also function as Secretary to the ­Government of India, Department of Military Affairs with effect from the date of his assumption of charge and until further orders, an official release said.
Lt General Anil Chauhan (retired) will be the second CDS of the country after Gen Bipin Rawat who died in a helicopter crash in December last year in Tamil Nadu.
Born on 18th May 1961, Lt Gen Anil Chauhan was commissioned into the 11 Gorkha Rifles of the Indian Army in 1981.
He is an alumnus of the National Defence Academy, Khadakwasla and Indian Military Academy, Dehradun.
In the rank of Maj General, the officer had commanded an Infantry Division in the critical Baramula sector in the Northern Command.
Later as Lt General, he commanded a corps in the North East and subsequently went to become the General Officer Commanding-in-Chief of the Eastern Command from September 2019 and held the charge until his retirement from the service in May 2021.
In addition to these command appointments, the officer also tenanted important staff appointments including the charge of Director General of Military Operations.
Earlier, the officer had also served as a United Nations mission to Angola.
He superannuated from the Indian Army on 31 May 2021.
Even after his retirement from the Army, he continued to contribute to national security and strategic matters.
For his distinguished and illustrious service in the Army, Lt General Anil Chauhan (retired) was awarded the Param Vishisht Seva Medal, Uttam Yudh Seva Medal, Ati Vishisht Seva Medal, Sena Medal and Vishisht Seva Medal.

Continue Reading

News

Maken’s ‘right briefing’ to high command could have averted Rajasthan crisis

Published

on

Ashok Gehlot

AICC General Secretary in charge of Congress in Rajasthan, Ajay Maken seems to have worsened and complicated the matter for the party in the state. After failing to control the situation, Maken’s image suffered yet another setback.
Rajasthan’s situation was bordering on what happened in Punjab and Delhi. It is the Congress legislators who finally came to rescue. After the truth came to the fore, all the senior leaders and the Gandhi family’s loyalist Sam Pitroda intervened and defended Chief Minister Ashok Gehlot. All of them were of the view that the majority should not be ignored. That is why Congress interim chief Sonia Gandhi decided to meet Gehlot on Thursday. The final picture will be clear on the presidential election only after this meeting.  
However, Maken is being blamed, and rightly so, for whatever happened in Rajasthan over the last few days. Sources say that Maken could have prevented the situation from worsening if he had even a bit of political understanding. Amid the crisis, Maken on the contrary tried to somehow get the “one line resolution” passed.
After this, Maken’s role is now under suspicion. The question is why Maken was so adamant on passing “the resolution”. He got angry when MLAs refused to entertain any resolution. He did not even meet the Chief Minister, while senior leader Mallikarjuna Kharge lent Gehlot a patient hearing before returning to Delhi. Both Maken and Kharge had been appointed as observers by the leadership to douse the Rajasthan crisis.     
In fact, the MLAs’ anger was justifiable, given some revelations that took them by surprise later. They wondered how the Sachin Pilot’s faction knew about the CLP meeting quite before, whereas CM, PCC chief and chief whip were unaware of this meeting. There was a buzz that the swearing-in of a new CM will take place on 27-28 September. That’s not all, the MLAs were told in a threatening tone that they would not remain ministers after 28 September.
The banners reading, “Naye Yug ki Shuruvat” were seen at various places in the state. It is said that Sachin also called some MLAs to inform them that he was going to be the CM. The media also played its role in all that was happening, by almost confirming the transition of power in Jaipur. The MLAs were also a bit nervous at one point of time. Two years ago when the operation to topple the government was underway, these MLAs remained united and thwarted the ‘Operation Lotus’. They had outright turned down “the bribe of Rs 25-30 crore”, sources claimed.
So, this time round the MLAs were upset with the high command trusting Sachin Pilot despite his involvement in anti-party activities. As a result, these legislators boycotted the CLP meeting, and submitted their resignations to the Speaker. Their demand was that none of “the rebels” should be given the CM post. The opposition got an opportunity to tarnish the image of Gehlot, who has been the most trusted leader of the Gandhi family.
AICC general secretary in-charge of organisation, K.C. Venugopal has said on Wednesday that the situation will be normal in Rajasthan in the next couple of days. Hopefully, the situation will be normal after the nomination process for Congress the presidential poll. But Maken’s role in the entire development will continue to be questioned.
The party suffered a massive existential crisis in Delhi when Congress was being led by Maken.
The party’s miserable condition is no secret in Punjab where he was sent as an
in-charge of the state. He could not give the factual information about Rajasthan leading to worsening of the crisis there. All eyes will now be on what steps the party takes in days to come.     

Continue Reading

News

New Attorney General of India: Advocate R Venkataramani

Published

on

The Centre Government on Wednesday appointed senior Advocate R Venkataramani as the new Attorney General of India.
The appointment of Venkataramani is for a period of three years. The Centre Government issued a notification in regards to the appointment of a new Attorney General of India.
The notification issued by the Ministry of Law and Justice states, “The President is pleased to appoint R Venkataramani, Senior Advocate as Attorney General for India for a period of three years from the date he enters upon his office.
Senior Advocate R Venkataramani is an eminent advocate of the Supreme Court and has appeared in various matters as varied as constitutional law, environmental law, taxation, tribal rights, and child and women’s rights.
He has represented several state governments, the Union government, universities and public sector undertakings in major litigation in the Supreme Court and in High Courts.
Earlier, senior advocate Mukul Rohatgi declined the central government’s proposal to be appointed as the next Attorney General for India.
On September 30, 2022, the term of Senior Advocate K.K. Venugopal as Attorney General of India is coming to an end.

Continue Reading

News

Gehlot to meet Sonia on Thursday, Rahul aide says matter to be resolved in a day or two

Published

on

Ashok Gehlot

Rajasthan Chief Minister Ashok Gehlot will meet Congress interim president Sonia Gandhi on Thursday afternoon following the rebellion by his party lawmakers in the state, in the run-up to the Congress presidential poll.
Pro-Gehlot Rajasthan Minister Pratap Khachariyawas said that the CM who is arriving in New Delhi on Thursday and will meet Sonia Gandhi. Congress is currently grappling with the political crisis in the state over leadership change after Gehlot emerged as the top contender in the party’s presidential polls for which the process of the nomination has already begun.
On Tuesday, Gehlot held an informal meeting with a few ministers and party MLAs at his residence in Jaipur, sources said.
Sachin Pilot, a former Deputy Chief Minister of the State is also in Delhi.
Amid the ongoing political turmoil in Rajasthan over the appointment of Ashok Gehlot’s successor, Congress leader K.C. Venugopal said that there is no drama in the state and everything will be clear in a day or two about who will be the next chief minister.
Venugopal said, “There is no drama in Rajasthan. Everything will be clear in a day or two. The media may see this as a drama but at least you are discussing the INC president election. You cannot discuss the presidential election of any other party in this country.” The Congress leader said that the party is carrying forward the election for the presidential poll in a “democratic manner”.
“Congress is doing it in a very democratic manner, it will end in two days smoothly,” he said.

Continue Reading

Trending