Tag: Ladakh News

Huge disappointment for people of J&K: CPI(M) leader Tarigami on Union budget

[ad_1]
Jammu: Senior CPI(M) leader MY Tarigami on Wednesday said the Union budget for 2023-24 was a “huge disappointment” for Jammu and Kashmir as the proposals contained in it failed to address the basic and fundamental issues of the region, which is mostly dependent on agriculture and horticulture.
He said the budget presented by Finance Minister Nirmala Sitharaman was just “jugglery of words” as it lacked the vision to tackle the growing unemployment, price rise and provide relief to the protesting daily wagers and other workers and employees under various government schemes.
“The budget is a huge disappointment for the people of Jammu and Kashmir. It has failed to address the basic and fundamental issues of the region, which is mostly dependent on agriculture and horticulture,” Tarigami told PTI.
He said reducing the expenditure on agriculture at the national level will have its impact on Jammu and Kashmir as well.
“The year 2022 proved to be devastating for apple growers as they suffered huge losses due to the falling prices of their produce. There was no mention or attempt to provide any relief to them. Same is true about the farmers growing wheat, rice and saffron crops who also suffered losses,” he said.
The Communist Party of India (Marxist) leader claimed that nothing was proposed in the budget to boost business, tourism and the MSME sector.
He also slammed the BJP-led Centre for not announcing budgetary allocations for the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) and providing relief to the workers engaged under the Integrated Child Development Services (ICDS), National Rural Health Mission (NRHM) and other similar schemes.
“The budget is just jugglery of words as there is nothing for the people of Jammu and Kashmir in it,” he said.

Meanwhile, Jammu and Kashmir Lieutenant Governor Manoj Sinha asserted that a rapid growth and welfare of the “aam aadmi” (common man) is at the centre of budget 2023-24, which will ensure sustained, equitable and inclusive growth, and achieve the milestone of a USD 5 trillion economy.
“The first budget of Amrit Kaal presented by FM Sitharamanji under the guidance of PM Narendra Modiji is to ensure sustained, equitable and inclusive growth and to achieve the milestone of 5 trillion dollar economy and to transform India into a global powerhouse,” the LG said in a tweet.
In another tweet, he said: “Increased investment on infrastructure and employment generation, green growth, agriculture accelerator fund, targeted funding for animal husbandry and Atmanirbhar Bharat horticulture clean plant programme and tourism promotion will have a force multiplier impact on economy.”
Sinha said a rapid growth and welfare of the common man is at the centre of budget 2023-24.
“Grateful to FM and PM for accelerating tempo of growth in handloom and handicraft sector through PM VIKAS. It will greatly benefit lakhs of artisans of J&K,” he said in another tweet.
[ad_2]
#Huge #disappointment #people #CPIM #leader #Tarigami #Union #budget
( With inputs from www.siasat.com )

February 1, 2023
IMF expresses concern over possibility of Pak opposition creating hurdles in govt’s hard economic decisions

[ad_1]
Islamabad: The IMF has expressed concern that Pakistan’s opposition parties might create hurdles in the way of implementing the tough economic decisions of the cash-strapped Shehbaz Sharif-led government, media reports said on Wednesday.
The views of the global lender came as a high-level delegation led by the International Monetary Fund (IMF) Mission Chief Nathan Porter on Tuesday met Finance Minister Ishaq Dar and other officials as part of the opening session of 10-day long talks for the completion of the much-delayed programme review for a bailout package.
Porter raised the question about the implication of the opposition’s role in difficult decisions that Pakistan would have to take to avoid the default, The Express Tribune newspaper reported.
“The fund had concerns that the opposition might create some problems in the way of rolling out additional taxation measures that the government was planning to impose to revive the talks,” it quoted Porter as saying.
However, Finance Minister Dar assured the IMF mission head that the government believed in political dialogue and there was nothing to worry about.
Dar stated that the government would try to enforce additional taxes in a manner that would avoid any untoward legal and political challenges, the report said, citing sources.
The government was planning to promulgate a presidential ordinance but in case the IMF concerns remained, it might bring an act of parliament. Parliament route would take at least 14 days before the new taxes were implemented, the report said.
Pakistan signed a USD 6 billion IMF programme during Imran Khan’s government in 2019, which was increased to USD 7 billion last year.

The programme’s ninth review is currently pending with talks being held between IMF officials and the government for the release of USD 1.18 billion.
But the IMF suspended disbursements in November last year due to Pakistan’s failure to make more progress on fiscal consolidation amidst the political turmoil in the country.
As part of the tough decisions, the Pakistani government on Tuesday hiked the price of Liquefied Petroleum Gas (LPG) by 30 per cent and finalised a minimum of Rs 6 per unit average increase in electricity rates between now and August, according to a report in the Dawn newspaper.
During the talks, Dar assured the IMF team that Pakistan would soon roll out a plan to reduce the gas sector’s circular debt by half to around Rs700 billion.
Dar, according to the finance ministry, said that reforms were being introduced in the power sector and a high-level committee had been formed for devising modalities to offset the menace of circular debt in the gas sector.
[ad_2]
#IMF #expresses #concern #possibility #Pak #opposition #creating #hurdles #govts #hard #economic #decisions
( With inputs from www.siasat.com )

February 1, 2023
Adani group stocks dip; Adani Enterprises tumble over 28%, Ports over 19%

[ad_1]
New Delhi: Shares of Adani Group firms slumped on Wednesday and have lost more than Rs 7 lakh crore of their combined market capitalisation in the last five trading sessions amid concerns over US-based short seller Hindenburg Research’s report.
The decline is about 38 percent compared to the market valuation at the end of trading on January 24, the day when the report was released.
Adani Group stocks have taken a beating on the bourses after Hindenburg in the report made a litany of allegations, including fraudulent transactions and share price manipulation, at the Gautam Adani-led group.
At the end of Wednesday’s trading session, all the group companies settled in negative territory with shares of three companies hit their lowest price band.
Shares of Adani Enterprises nosedived 28.45 percent to close at Rs 2,128.70 on the BSE despite the company’s Rs 20,000-crore share sale sailed through on the last day on Tuesday after non-retail investors bid in big volumes. There was, however, a muted response from retail investors and company employees.
The share sale opened on January 24.
The counter of Adani Ports and Special Economic Zone plunged 19.69 percent, Adani Total Gas slumped 10 percent, Adani Green Energy declined 5.78 percent, Adani Wilmar fell 4.99 percent, Adani Wilmar went down 4.99 percent, Adani Power dropped 4.98 percent and Adani Transmission (2.46 percent)
In addition, Ambuja Cements tanked 16.56 percent, while ACC dropped 6.34 percent and NDTV went down 4.98 percent.

The Adani group stocks (including Ambuja, ACC and NDTV) have lost more than Rs 7 lakh crore or about 38 percent of their combined market cap in the last five trading sessions, Manish Chowdhury, head of research at Stoxbox, said.
“With investors hoping for a breather following the successful closure of the Adani Enterprises FPO yesterday, it was another shocker when news emerged today that Credit Suisse has stopped accepting bonds of Adani group as collateral for margin loans to its private banking clients. With several questions being raised about the group, it looks prudent to stay away from these companies till the dust settles,” he added.
Equity benchmarks Sensex and Nifty ended on a mixed note after Finance Minister Nirmala Sitharaman raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade in Budget 2023-24.
The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 percent to settle at 59,708.08. In contrast, the broader NSE Nifty declined 45.85 points or 0.26 percent to end at 17,616.30.
[ad_2]
#Adani #group #stocks #dip #Adani #Enterprises #tumble #Ports
( With inputs from www.siasat.com )

February 1, 2023
Tendulkar felicitates women’s U19 World Cup-winning cricket team

[ad_1]
Ahmedabad: Sachin Tendulkar on Wednesday felicitated the India U-19 women’s cricket team for its triumph in the inaugural ICC T20 World Cup in South Africa, saying the feat will encourage many girls to take up the sport and realise their dreams.
“I would likely to congratulate you on the magnificent achievement. The entire nation will celebrate (the triumph) for years to come.
“For me, my cricketing dreams started in 1983 but by winning this World Cup, you have given birth to many dreams. It was a magnificent performance,” Tendulkar said during the felicitation ceremony just before the start of the series-deciding third T20I between India and New Zealand here on Wednesday.
“By winning this World Cup, you have given a dream to young girls in India to represent the country.
“The beginning of the WPL (Women’s Premier League) is going to be the biggest thing. I believe in equality for men and women, and not just in sports. There should be equal opportunities,” he added.
Tendulkar said the BCCI is doing its best for the growth of women’s cricket in the country.
“What BCCI has been able to do and the officials’ contribution in helping women’s cricket prosper, I think it’s a sign that we will really do well (in future).”
During the brief felicitation function, which was also attended by BCCI secretary Jay Shah, president Roger Binny, vice-president Rajeev Shukla and treasurer Ashish Shelar, the dignitaries handed over a cheque of Rs five crore to the victorious India U-19 women’s team as announced by the board secretary earlier.

[ad_2]
#Tendulkar #felicitates #womens #U19 #World #Cupwinning #cricket #team
( With inputs from www.siasat.com )

February 1, 2023
Rs 5.94 lakh crore allocated to defence ministry in Union Budget

[ad_1]
New Delhi: The defence budget was on Wednesday increased to Rs 5.94 lakh crore for 2023-24 in a modest hike of 13 percent from last year’s allocation of Rs 5.25 lakh crore amid India’s continuing border row with China in eastern Ladakh and concerns over rising Chinese forays into the Indian Ocean Region.
In the Union Budget presented in Parliament by Finance Minister Nirmala Sitharaman, a total of Rs 1,62,600 crore was set aside to the military for capital expenditure that largely includes purchasing new weapons, aircraft, warships and other military hardware.
For 2022-23, the budgetary allocation for capital outlay was Rs 1.52 lakh crore but the revised estimate showed the expenditure at Rs 1.50 lakh crore.
The capital allocations of Rs 1,62,600 crore marked a hike of Rs 10,230 crore over last year’s outlay and it is a 6.7 per cent increase. The capital budget of the Border Roads Organisation (BRO) has been increased to Rs 5,000 crore as against Rs 3,500 crore in 2022-23 which is a hike of 43 per cent.
“The Union Budget for the Financial Year 2023-24 envisages a total outlay of Rs. 45,03,097 crore. Of this, Ministry of Defence has been allocated a total Budget of Rs 5,93,537.64 crore, which is 13.18 per cent of the total GoI Budget,” Defence Minister Rajnath Singh tweeted.
The total revenue expenditure has been pegged at Rs 4,22,162 crore that included Rs 1,38,205 crore for defence pensions, Rs 2,70,120 crore for defence services and Rs 13,837 crore for the Ministry of Defence (Civil).
The capital outlay for the Indian Air Force was the highest at Rs 57,137.09 crore that included Rs 15,721 crore for procurement of aircraft and aero engines and Rs 36,223.13 crore for other equipment.
An amount of Rs 52,804 crore was set aside as the capital outlay for the Indian Navy as against Rs 47,590 crore given to the force in 2022-23.

The capital outlay for the Army has been pegged at Rs 37,241 crore which included Rs 5,500 crore for procurement of aircraft and aero-engines and Rs 21,300 for other equipment. The capital allocation to the force in last year’s budget was Rs 32,015 crore.
Dr Laxman Kumar Behera, Associate Professor at Special Centre for National Security Studies at the Jawaharlal Nehru University, said the increase in the allocation has been satisfactory considering the economic headwinds in view of impact of various global developments.
“The budget has given the armed forces a modest hike. The capital outlay for the Indian Navy has been on an upswing for the last few years because of China’s increasing presence in the Indian Ocean Region. This is a significant aspect in the defence budget for 2023-24 as well,” Behera told PTI.
Former Deputy Chief of Army Staff Lt Gen (retd) Subrata Saha said the budget intends to boost manufacturing and build on India’s strength in the digital domain.
“In defence, domestic manufacturing will get further impetus with efforts to also increase exports from India,” he said.
Saha said the increase in the allocation for the Border Roads Organisation (BRO) will push the border connectivity infrastructure.
The defence ministry said the increase in the capital budget since 2019-20 has been Rs 59,200 crore which it said is a 57 percent increase.
“This increase is a reflection of the government’s commitment towards sustainable augmentation in the area of modernisation and infrastructure development of the defence services,” it said.
The allocation to Defence Research Development Organisation (DRDO) has been put at Rs 23,264 crore.
According to the budget documents, an allocation of Rs 2,70,120 crore has been made to the armed forces for revenue expenditure that includes expenses on payment of salaries and maintenance of establishments. The budgetary allocation of revenue expenditure in 2022-23 was Rs 2,33,000 crore.
In the budget for 2023-24, the capital outlay for the Ministry of Defence (Civil) has been pegged at Rs 8774 crore. The total capital outlay considering Rs 1,62,600 crore for the armed forces and Rs 8,774 crore to defence ministry comes to Rs 1,71,374 crore.
The revenue expenditure for the Army has been put at Rs 1,82,649 crore followed by Rs 44,345 crore for the IAF and Rs 32,284 crore for the Indian Navy.
Under the revenue outlay, the Indian Navy has been allocated an amount of Rs 32,284.20 crore as against a budgetary allocation of Rs 25,406.42 crore and revised estimate of Rs 30,734.58 crore for 2022-23.
The revenue expenditure of the Indian Air Force has been projected at Rs 44,345.58 crore as against budgetary outlay of Rs 32,873.46 crore and revised estimate of Rs 44,728.10 crore for 2022-23.
The gross budgetary support under the central sector head was put at Rs 950 crore.
[ad_2]
#lakh #crore #allocated #defence #ministry #Union #Budget
( With inputs from www.siasat.com )

February 1, 2023
Retd HC judge to monitor crime branch probe into Odisha minister’s murder case: Official

[ad_1]
Bhubaneswar: A former Orissa High Court judge will monitor the police crime branch investigation into the murder of health minister Naba Kishore Das, an official said on Wednesday.
The home department had earlier requested the Orissa High Court to name a judge to monitor the investigation being carried out by the crime branch of the police.
The administration had made such a request to the high court to “maintain transparency in the investigation” in the wake of a demand for an impartial inquiry into the incident, a home department official said.
“The high court suggested the state government to engage Justice (Retd) J P Das to supervise and monitor the probe,” he said.
The state government had earlier announced the crime branch inquiry into the incident immediately after the state health minister was murdered.
Das, 60, breathed his last on January 29 evening, hours after he was shot by a policeman at Gandhi Chhak in Brajrajnagar area of Jharsuguda district, where he had gone to attend an event.
Earlier, the opposition BJP had demanded a CBI probe into the incident, claiming that the “Odisha police could not deliver justice as a policeman was the prime accused in the case”.
The Congress also demanded a court-monitored special investigation team to probe into the incident or a judicial inquiry.

Meanwhile, the Odisha assembly informed the Election Commission that the Jharsuguda assembly seat fell vacant after the death of Das on Sunday.
According to norms, an assembly or Lok Sabha constituency cannot remain vacant for more than six months, the official said.
“As the election to the Odisha assembly is due next year, a by-poll to Jharsuguda seat may be held. The EC will take the final call,” he added.
[ad_2]
#Retd #judge #monitor #crime #branch #probe #Odisha #ministers #murder #case #Official
( With inputs from www.siasat.com )

February 1, 2023
Gold Prices touched life-time high and Gulf jewelers observing closely

[ad_1]
Jeddah: Gold rates climbed to a new life-time high of ₹58,060 per 10 gm on Wednesday in India and prices become volatile amid budget speech of Finance Minister Nirmala Sitharaman and went on to climb to its record high by the time FM finished her speech in the parliament.
Though the Government didn’t impose any new taxes on Gold imports in its latest budget, yet, the price of 22 carat gold weighing 10 grams raised up to Rs. 52,900 and 24 carat gold to Rs. 58,060 as MCX price. At the same time the price of one kg silver increased to ₹73,300. The bullion traders expecting the price to hit Rs. 60,000 shortly.
Currently, basic customs duty on gold is 12.5% and 2.5% agricultural infrastructure cess, 3% is GST and another about 5% goes as making charges. This has primarily led to a rise in the key input cost for the Indian jewelry industry.
The cost factors prompted many people to look into the Gulf market for better deals with beautiful designs. Whether seasonal visitors to Dubai or religious pilgrims to holy cities in Saudi Arabia prefer to purchase gold from abroad.
It is noteworthy to mention that most of the gold that is imported in India comes from Dubai and other gulf countries.
However, overall gold prices in the Gulf region particularly in UAE will remain lower compared with India.
“Despite high duty back home in India, an Indian visitor can save Rs. 20,000 for 5 tolas” explained Shekhar, native of Vijayawada and works as sales executive in a leading gold jewelry shop in Dubai.
He told this correspondent over the phone that most shops in Dubai and other parts of the Gulf have significant customers from India where cost is matter.

The government hiked the import duty on gold from 7.5% to 12.5% in July 2022 to dampen demand, bring down the trade deficit and ease pressure on the rupee.
The result was a steep reduction in imports of gold from 1,068 tonnes in 2021 to 706 tonnes in 2022. The duty hike also resulted in increased smuggling of gold into India, an estimated 200 tonnes a year, and that is actually driving the gold retail sales, say industry sources.
[ad_2]
#Gold #Prices #touched #lifetime #high #Gulf #jewelers #observing #closely
( With inputs from www.siasat.com )

February 1, 2023
‘Callous’ Budget has betrayed hopes of vast majority of people: Chidambaram

[ad_1]
New Delhi: Congress leader P. Chidambaram on Wednesday accused the government for ignoring the common man behind, saying the absence of key concerns in Finance Minister Nirmala Sitharaman’s Budget speech showed how far this government is removed from the people and their concerns about life, livelihood and the growing inequality between the rich and the poor.
He termed it a callous Budget that has “betrayed” the hopes of the vast majority of the people.
Addressing a press conference, Chidambaram said: “FM has not mentioned the words unemployment, poverty, inequality, or equity anywhere in her speech. Mercifully, she has mentioned the word poor twice in her speech. I am sure the people of India will take note of who are in the concerns of the government and who are not.”
He said that last year, the government estimated the GDP for 2021-22 at Rs 232,14,703 and, assuming a nominal growth rate of 11.1 per cent, projected the GDP for 2022-23 at Rs 258,00,000 crore. The GDP for 2021-22 has been since revised upward to Rs 236,64,637 crore.
In today’s Budget papers, the GDP for 2022-23 has been estimated at Rs 273,07,751 crore which yields a growth rate of 15.4 percent, much above the earlier estimate, he added.
Chidambaram also said that no taxes have been reduced except for the small number, who have opted for the new tax regime, while no indirect taxes have been reduced.
“There is no cut in the cruel and irrational GST rates. There is no reduction in the prices of petrol, diesel, cement, fertilisers and no cut in the numerous surcharges and cesses which are, any way, not shared with the state governments.
“Who has benefited by this Budget? Certainly, not the poor. Not the youth looking desperately for jobs.A Not those who have been laid off. Not the bulk of the taxpayers. Not the homemaker. Not the thinking Indians who are shocked by the growing inequality, the rise of the number of billionaires and the wealth being accumulated in the hands of the 1 per cent of the population. Certainly, not you,” Chidambaram said.

He also accused the government of being determined to push the fortunes of GIFT city, Ahmedabad,A at the cost of other commercial and financial centres. The government is also determined to push the ‘new’ tax regime for which there are few takers for a variety of reasons.
“Besides, making the new tax regime the default option is grossly unfair and will rob the ordinary tax payer of the meagre social security that he may get under the old tax regime,” he added.
[ad_2]
#Callous #Budget #betrayed #hopes #vast #majority #people #Chidambaram
( With inputs from www.siasat.com )

February 1, 2023
Salman poses with Aamir Khan’s family for adorable pic, can you guess the photographer?

[ad_1]
Mumbai: Superstar Salman Khan recently met his ‘Andaz Apna Apna’ co-star Aamir Khan at the latter’s residence.
A picture from the duo’s meeting has been doing the rounds on the internet. In the image, Salman is seen happily posing for a picture with Aamir’s mother Zeenat Hussein and his sister Nikhat.
The adorable image was captured by none other than Aamir and Nikhat shared it on social media.
“For those who were missing Aamir,” Nikhat, who is currently garnering praises for her special role in Shah Rukh Khan-starrer Pathaan, captioned the post.
Aamir is not on social media. He also has taken a break from work to spend quality time with his family and friends.
In November 2022, Aamir at an event in Delhi revealed that he is taking break from acting in his 35-year-career.
“I feel I have been working for 35 years and I have single-mindedly been focused on my work. I feel that it’s not fair to people who are close to me. This is the time I feel I have to take some time off to be with them, and actually experience life in a different way. I am looking forward to the next year, year-and-a-half in which I am not working as an actor,” he shared.
Aamir’s revelation about taking a break from acting comes months after his film ‘Laal Singh Chaddha’ failed at the box office.

He was recently seen attending a wedding in Bhopal, Madhya Pradesh, where he met Punjabi singer Jasbir Jaasi.

[ad_2]
#Salman #poses #Aamir #Khans #family #adorable #pic #guess #photographer
( With inputs from www.siasat.com )

February 1, 2023
Nothing in Union Budget to solve economic disparities in country: Kerala CM

[ad_1]
Thiruvananthapuram: Kerala Chief Minister Pinarayi Vijayan on Wednesday said the Union Budget 2023-24 does not attempt to solve the growing economic disparities in the country.
Vijayan, reacting to the budget presented by Union Finance Minister Nirmala Sitharaman in the Parliament, said that it only further strengthens the concentration of wealth among corporates.
The Chief Minister, in a statement, also expressed the view that the budget has not taken a regionally balanced approach.
In the statement, he also said that it was disappointing that the long-sought demand of Kerala for an All India Institute of Medical Sciences (AIIMS) or rail development projects in the state, found no mention in the budget.
Subscribe us on
[ad_2]
#Union #Budget #solve #economic #disparities #country #Kerala
( With inputs from www.siasat.com )

February 1, 2023