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The second week of the Parliament Winter Session began with little progress as both Houses of Parliament witnessed adjournments amidst fervent protests by Opposition members. Demands for discussions on issues ranging from allegations against the Adani Group to the ongoing situation in Manipur dominated proceedings, leaving the day largely unproductive.

A Week of Disruptions Continues

The Lok Sabha and Rajya Sabha convened on December 2, 2024, only to be adjourned without addressing substantial business. This marked the continuation of a week marred by disruptions. The Opposition, united under the INDIA bloc, remains steadfast in its insistence on prioritizing these pressing issues for discussion.

Focus on Adani Allegations

In the Lok Sabha, Congress MP Manickam Tagore submitted an adjournment motion notice calling for an urgent investigation into allegations made by the U.S. Justice Department against Gautam Adani. The allegations, centered on bribery and corruption, have triggered a political firestorm in India. Tagore emphasized the need to address these claims in the “public interest,” urging immediate parliamentary debate.

Manipur and Law-and-Order Issues Dominate Rajya Sabha

Meanwhile, in the Rajya Sabha, several leaders raised adjournment and suspension notices to discuss critical issues:

  • Manipur Violence: DMK MP Tiruchi Siva sought attention on the ongoing violence in Manipur, emphasizing the need for parliamentary intervention in the crisis.
  • Delhi’s Law-and-Order Concerns: AAP MP Sanjay Singh filed a notice under Rule 267 to address the deteriorating law-and-order situation in the national capital.
  • Arrest of ISKCON Monks in Bangladesh: AAP MP Raghav Chadha highlighted the arrest of ISKCON monks, calling for a dedicated discussion on the implications of these events.

Opposition Strategies: Seeking the Speaker’s Intervention

In a significant move, floor leaders of the INDIA alliance convened a meeting at the Congress Parliamentary Party office under the leadership of Rahul Gandhi, Leader of Opposition in the Lok Sabha. After deliberations, the leaders decided to approach the Speaker to seek his intervention in ensuring the smooth functioning of Parliament.

The INDIA bloc’s united front underscores its commitment to holding the government accountable on issues that it deems critical for the nation.

Persistent Deadlock

Despite multiple attempts to bring order to proceedings, the Parliament’s Winter Session continues to face a deadlock. The lack of productive debate over essential matters has drawn criticism from various quarters, with analysts noting the need for collaborative efforts to ensure parliamentary efficiency.

A Long Road Ahead

As the Winter Session progresses, it remains to be seen whether a breakthrough can be achieved. The growing list of unresolved issues, combined with intensifying Opposition demands, sets the stage for potentially contentious debates in the days to come.

With public interest and national concerns hanging in the balance, all eyes are on how both Houses navigate the current impasse. Will the government and Opposition find common ground, or will the session continue to be overshadowed by disruptions? The answers will shape the trajectory of this critical parliamentary season.

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The Trinamool Congress (TMC), led by Mamata Banerjee, has reiterated its commitment to focusing on the pressing issues that affect everyday citizens during the ongoing Winter Session of Parliament. Unlike its opposition counterparts, the TMC has deliberately chosen not to center its agenda solely on the Adani case, instead prioritizing concerns such as the deprivation of central funds to West Bengal, unemployment, inflation, and the ongoing crisis in Manipur.

TMC’s Strategic Stance: A Different Approach to Opposition Politics

Deputy Leader of TMC in Lok Sabha, Kakoli Ghosh Dastidar, stated on Wednesday that while the party aims to hold the government accountable, it does not support disruptions in parliamentary proceedings over a single issue.

TMC wants Parliament to run. We don’t want one issue to disrupt proceedings. Accountability must be sought for the government’s multiple failures, Dastidar emphasized, underscoring the party’s people-first philosophy.

While the Congress has aggressively pushed for a probe into allegations of fraud and bribery against the Adani Group in the U.S., TMC has opted for a broader focus on governance and policy lapses.

Key Issues on TMC’s Agenda

During its working committee meeting earlier this week, TMC finalized a list of issues to be raised in Parliament, reflecting its resolve to prioritize public welfare:

  1. Deprivation of Central Funds: The alleged withholding of MGNREGA and other central funds for West Bengal remains at the forefront.
  2. Inflation and Unemployment: Addressing the economic challenges faced by ordinary citizens.
  3. Fertilizer Shortages: Highlighting the impact of agricultural supply chain issues on farmers.
  4. Manipur Violence and Northeast Crisis: Bringing attention to the unrest in the region and its implications.
  5. Pending Aparajita Bill: Advocating for the clearance of the West Bengal Criminal Laws and Amendment Bill, which seeks stringent punishment for rape convicts.

The Aparajita Bill, unanimously passed by the West Bengal Assembly, proposes capital punishment for rape resulting in the victim’s death or a vegetative state, along with life imprisonment without parole for other perpetrators. The TMC has sought an audience with President Droupadi Murmu to discuss its pending approval.

Maintaining Independence Within the INDIA Bloc

Although the TMC is part of the INDIA opposition bloc, it continues to maintain an independent strategic outlook. Dastidar noted that while the party aligns with the bloc on broader objectives, its electoral strategy and parliamentary focus remain distinct.

TMC wins on its own and doesn’t rely on alliances to challenge the BJP, she said, affirming the party’s self-reliance.

This independence was evident when the TMC chose to skip two key opposition meetings this week—one on Monday to discuss the Adani JPC demand and another on Wednesday to strategize for the session.

A Focus on Governance and People’s Welfare

By shifting its attention to issues like the Aparajita Bill and the economic challenges faced by citizens, TMC underscores its intention to prioritize governance over political theatrics. The party also pointed out that the Northeast’s plight and delayed central funds require immediate attention, far outweighing the political buzz around the Adani case.

As Parliament reconvenes, the TMC’s stance stands out as a commitment to accountability and actionable governance. While opposition politics continues to evolve, TMC’s strategy reflects a focus on tangible outcomes for citizens, staying true to its slogan of Maa, Mati, Manush (Mother, Land, People).

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The Winter Session of the Indian Parliament continued into its second day, brimming with anticipation for key discussions on pressing national issues. However, both the Lok Sabha and the Rajya Sabha witnessed disruptions, leading to an early adjournment for the day.

This session, which began on November 25, holds significance as it coincides with the 75th Constitution Day. While November 26 was reserved for commemorating this landmark occasion, parliamentary proceedings have yet to gain substantial momentum.

Key Highlights from Day 2

Despite the adjournment, the day was slated to focus on discussions about the Waqf Bill, the Wayanad landslide, and the Sambhal violence. These critical topics reflect the diverse challenges currently faced by the nation, encompassing legislative reforms, natural disaster management, and law and order concerns.

On the opening day of the session, Prime Minister Narendra Modi expressed his hopes for constructive and meaningful debates. In a sharp critique of the opposition, he remarked, “Those who have been repeatedly rejected by the people disrespect Parliament and democracy.” His call for healthy discussions set the tone for what was expected to be a dynamic session, though the disruptions that followed have so far slowed progress.

The Constitution Day Connection

November 26, celebrated as Constitution Day, marked the 75th anniversary of the adoption of the Indian Constitution. The day serves as a reminder of India’s democratic framework and the responsibilities it places on lawmakers to act in the best interest of the people.

Prime Minister Modi, during his address, highlighted the enduring relevance of the Constitution, urging members to channel their energies toward addressing the concerns of citizens. The adjournments, however, underscored the challenges of maintaining decorum and productivity in the nation’s highest legislative bodies.

What Lies Ahead?

As the Winter Session progresses, all eyes remain on Parliament to address key legislative proposals and national issues. The Waqf Bill, aimed at reforming the administration of Waqf properties, is expected to ignite spirited debates. Similarly, the Wayanad landslide and Sambhal violence will likely bring regional and humanitarian concerns to the forefront.

The disruptions on Day 2 serve as a reminder of the need for consensus and cooperation among lawmakers to fulfill their democratic mandate. Citizens hope for a return to constructive deliberations, in line with the spirit of the Constitution, as the session unfolds.

This Winter Session is not just an opportunity for legislative action but also a test of the Parliament’s ability to navigate contentious issues while upholding the sanctity of democratic discourse. As proceedings resume, the focus will undoubtedly shift toward delivering on the promises of accountability, governance, and progress.

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As the vibrant festival of democracy unfolds, Maharashtra’s 288 constituencies are witnessing intense electoral action in the 2024 Assembly Elections. Meanwhile, Jharkhand embarks on its second polling phase across 38 seats. Adding to the democratic fervor, by-elections are underway in Uttar Pradesh, Punjab, Kerala, and Uttarakhand, making this an eventful day for Indian democracy.

Maharashtra: A State in the Spotlight

Maharashtra, often lauded as a progressive and prosperous state, takes center stage with a fierce battle between the ruling Mahayuti alliance and the Maha Vikas Aghadi (MVA). Heavyweights such as Chief Minister Eknath Shinde, contesting from Kopri-Pachpakhadi, and Deputy CM Devendra Fadnavis, defending Nagpur South West, are among the prominent candidates. NCP leader and Deputy CM Ajit Pawar aims to retain the Pawar family bastion of Baramati.

Union Minister Nitin Gadkari, after casting his vote, described the day as a “festival of democracy,” urging citizens to vote for development. Meanwhile, allegations of money distribution and other political mudslinging have added drama to the electoral landscape. Maharashtra Congress President Nana Patole accused the BJP of engaging in dishonest practices, vowing to address these issues systematically.

By 9 AM, Maharashtra recorded a voter turnout of 6.6%, reflecting cautious early enthusiasm.

Jharkhand: A Test of Alliances

In Jharkhand, 528 candidates are contesting across 38 seats. Chief Minister Hemant Soren, along with his family members, leads the JMM alliance in a stiff competition against the BJP-led NDA. Over 1.23 crore eligible voters, including 61 lakh women, hold the key to the state’s future.

By-Elections Across India

By-elections are in full swing across 15 Assembly seats in Uttar Pradesh, Punjab, Kerala, and Uttarakhand. Key seats in Punjab include Gidderbaha and Barnala, while Uttar Pradesh sees contests in regions like Ghaziabad and Phulpur.

Security Measures in Maharashtra

Mumbai, a critical battleground, has seen the deployment of over 30,000 police personnel to ensure a smooth voting process. This includes five additional commissioners of police, 20 deputy commissioners, and three Riot Control Platoons, reflecting the administration’s commitment to maintaining order.

Political Heavyweights and Public Participation

With prominent leaders such as Aaditya Thackeray, Amit Thackeray, and Nana Patole in the fray, the stakes are higher than ever. Former Union Minister Milind Deora and state BJP chief Chandrashekhar Bawankule also add to the high-profile nature of these elections.

As voting progresses, the day promises to shape the future of key states while showcasing the power of democracy in action. All eyes now turn to the voter turnout and the results that will define the political landscape in Maharashtra and beyond.

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As Maharashtra gears up for its high-stakes assembly elections on November 20, political dynamics are anything but stable. The upcoming polls, set to determine the fate of the 288-member assembly, come after a turbulent five years marked by party splits, new alliances, and shifting loyalties. With six key players competing for influence and a spirited opposition raring for a showdown, the election promises to be a fascinating battle for the heart of India’s second-largest state legislature.

A State Divided: The Fallout of Party Splits

The political landscape in Maharashtra has undergone a seismic shift since the last assembly elections in 2019. The collapse of the pre-poll alliance between the Shiv Sena and BJP over the chief ministerial post set off a chain reaction that saw three different governments, including a short-lived three-day regime. The formation of the Maha Vikas Aghadi (MVA) coalition under Uddhav Thackeray, comprising the Shiv Sena, Congress, and the Nationalist Congress Party (NCP), was a historic break from traditional rivalries.

However, the MVA’s fall from power in June 2022 following a rebellion within the Shiv Sena fractured the state’s political unity. Eknath Shinde, who led the rebellion, succeeded Thackeray as Chief Minister with the backing of the BJP, marking yet another twist in Maharashtra’s political saga. Adding to the complexity, the NCP split in 2023, with Ajit Pawar joining the ruling alliance while Sharad Pawar retained control over the original faction. These divisions have left Maharashtra with six major political contenders: BJP, Shiv Sena, NCP (Ajit Pawar), Congress, Shiv Sena (Uddhav Balasaheb Thackeray), and NCP (Sharad Pawar).

Mahayuti vs. MVA: A Battle for Political Dominance

The upcoming polls will pit the ruling Mahayuti alliance, consisting of the BJP, Shinde’s Shiv Sena, and Ajit Pawar’s NCP faction, against the opposition MVA, which includes Congress, Shiv Sena (UBT), and Sharad Pawar’s NCP. The Mahayuti government is betting big on its flagship Ladki Bahin Yojana scheme, which promises a monthly stipend of ₹1,500 for economically disadvantaged women. The scheme aims to cover 2.5 crore beneficiaries across the state, targeting nearly half of Maharashtra’s 4.5 crore women voters.

Despite the Mahayuti’s efforts to win over voters with welfare measures, the opposition is not pulling any punches. Congress leader Ratnakar Mahajan has pointed out the ruling alliance’s struggles, including a perceived erosion of BJP’s voter base and unresolved issues like agrarian distress, unemployment, and inflation. The Maratha quota agitation, which dented the ruling bloc’s performance in the recent Lok Sabha polls, remains a contentious topic and is likely to sway voters once more.

Maratha Quota and Law & Order: Key Election Issues

With the Maratha quota demand resonating among a significant voter base, both alliances will need to navigate this complex issue carefully. The murder of former state minister and NCP leader Baba Siddique on Dussehra (October 12) has also brought law and order concerns to the forefront, with the opposition targeting Home Minister Devendra Fadnavis for failing to maintain public safety. Meanwhile, the collapse of the Chhatrapati Shivaji Maharaj statue in Sindhudurg district has added another layer of criticism against the government.

In the past fortnight alone, the Shinde administration has made over 1,500 decisions, including around 160 cabinet-level resolutions, in a bid to showcase its governance capabilities. Noteworthy measures include a toll waiver for light motor vehicles at Mumbai’s entry points, yet the opposition continues to question whether these last-minute efforts will be enough to win over voters.

The Stakes: A Fragmented Political Battlefield

The 2019 Maharashtra assembly polls saw the BJP emerge as the single largest party with 105 seats, while its then-ally Shiv Sena secured 56 seats. The Congress and NCP contested 125 seats each, winning 44 and 54, respectively. However, the political landscape has since transformed dramatically, with major splits and realignments setting the stage for a fragmented fight. This year’s election will not only test the strength of alliances but also the ability of parties to transfer votes across their factions and stay united amid ideological and personal differences.

The recent Lok Sabha elections delivered a jolt to the ruling alliance, which managed to win just 17 out of 48 seats, while the MVA clinched 30. Yet, state-level elections are a different political ball game. Local issues often take center stage, and the results could defy expectations. As the state prepares for a riveting contest, the fragmented polity makes predicting the outcome even more challenging.

The Path Forward: A New Era in Maharashtra Politics?

November’s assembly elections are more than just a political contest; they represent a critical juncture in Maharashtra’s history. The aftermath of splits within major parties, combined with ongoing social and economic issues, suggests that this election could redefine the state’s political landscape for years to come. Whether the Mahayuti’s welfare measures can counter the MVA’s critique of governance, or if a new player emerges as a kingmaker, remains to be seen.

As voters head to the polls on November 20, one thing is certain: Maharashtra’s political chemistry is about to undergo another transformation, with the results on November 23 potentially heralding a new chapter in the state’s storied political journey.

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Today marks a pivotal moment in the political landscape of Jammu & Kashmir as the counting of votes in the 2024 Assembly elections begins, following a 10-year electoral hiatus and the first election since the abrogation of Article 370. With high stakes and anticipation running high, the results will decide the formation of the new government in the Union Territory.

The elections, held in three phases on September 18, 25, and October 1, saw a voter turnout of 63.88%, as per the Election Commission of India. This is the first assembly election since the historic revocation of Jammu and Kashmir’s special status in August 2019, which resulted in the bifurcation of the state into the Union Territories of Jammu & Kashmir and Ladakh.

Political heavyweights are in a tight contest, with the Bharatiya Janata Party (BJP) aiming for a solo victory, while the Congress-National Conference (NC) alliance looks to secure a majority. This is a significant election for the region, as it will establish the first full-fledged government after years of President’s Rule and administrative control.

A Fierce Battle for Power

The election has seen the Congress and the National Conference (NC) teaming up to contest the elections together, in contrast to the People’s Democratic Party (PDP) and BJP, who decided to go their separate ways this time. The BJP’s decision to part ways with the PDP in 2018 led to the fall of Mehbooba Mufti’s government and brought the region under Governor’s Rule, a situation that has persisted since then.

Now, with a revamped political landscape, all eyes are on the alliances and solo contenders, especially with predictions suggesting a strong lead for the Congress-NC alliance in a poll of polls. However, the unpredictability of Jammu and Kashmir politics makes it a nail-biting wait until the final results are declared.

A Historic Vote Post-Article 370

This election holds tremendous significance, as it marks the first electoral exercise after the abrogation of Article 370, which stripped Jammu & Kashmir of its special autonomy. The move divided the former state into two Union Territories, a decision that drastically altered the region’s political and administrative framework. The ongoing elections are not only about governance but also about setting the course for Jammu and Kashmir’s future in this new era.

What’s Next for Jammu & Kashmir?

As the counting progresses with tight security measures in place, the fate of Jammu & Kashmir’s political future rests in the hands of its voters. Will the Congress-NC alliance make history, or will the BJP secure a majority to form a government? Only time will tell, and as always, exit polls should be taken with caution. The final results, expected later today, will determine the leadership that will steer Jammu & Kashmir into a new chapter of development and stability.

Stay tuned for the latest updates as the results continue to unfold!

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The World Environment Council, led by its visionary Founder and President, Prof. Ganesh Channa, made a remarkable impact at the United Nations “Summit of the Future.” This summit, which serves as a vital platform for shaping global cooperation and governance, provided Prof. Channa with the opportunity to address the evolving role of parliaments in multilateralism, particularly in tackling global challenges such as sustainable development.

In a pivotal session organized by the European Parliament titled “Parliaments and Multilateralism: Opportunities from the Summit of the Future,” Prof. Channa highlighted the increasing importance of parliamentary engagement in international decision-making. His speech emphasized that parliaments serve as the bridge between local governance and global action, ensuring that democratic principles and accountability are upheld within the broader framework of international organizations.

Strengthening the Role of Parliaments in Sustainable Development

A central theme of Prof. Channa’s participation was the urgent need to address the financing gap required to achieve the United Nations’ Sustainable Development Goals (SDGs) by 2030. With an ambitious global agenda set in place, significant financial resources are crucial for the successful implementation of the SDGs.

Prof. Channa articulated how parliaments possess distinct powers that can help close this financing gap:

  • Legislative Power: The ability to pass laws and enact policies that promote sustainable financing, at both national and international levels.
  • Budgetary Authority: Parliaments can direct resources toward sustainable development projects, ensuring that SDG priorities are reflected in national budgets.
  • Supervisory Role: They play a critical role in holding governments accountable for the effective implementation of sustainable development programs, ensuring transparency in the use of funds.
  • Influence and Advocacy: Beyond formal powers, parliaments can drive public opinion and foster collaboration between private sectors, civil society, and governments in mobilizing SDG financing.

Prof. Channa also stressed the importance of international partnerships, noting that while national parliaments play an essential role, the scale of the challenge demands enhanced global collaboration. He emphasized that collective efforts are needed to bridge the SDG financing gap and promote sustainable practices across borders.

A Vision for the Future of Multilateralism

The involvement of the World Environment Council in this high-level dialogue signifies its expanding influence in shaping global sustainability and governance. Prof. Channa’s active engagement underscores the council’s commitment to fostering collaboration between governments, international bodies, and civil society to tackle pressing environmental and developmental issues.

As the summit continues, the World Environment Council is set to take an even more prominent role in advocating for eco-friendly policies, green certifications, and innovative solutions. This participation lays the groundwork for future initiatives, solidifying the council’s place as a key player in global environmental governance.

Prof. Channa’s contributions at the UN “Summit of the Future” align perfectly with the council’s overarching mission—to advance sustainable development and to ensure that global cooperation delivers tangible results for all. The World Environment Council’s growing presence on the world stage reflects a brighter future for multilateralism and sustainability.

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The ongoing debate over the Supreme Court’s recent ruling on sub-categorization within Scheduled Castes (SC) and Scheduled Tribes (ST) reservations has ignited significant political discourse. At the heart of this controversy is the concept of the “creamy layer” within these communities—a notion that has drawn sharp criticism from various quarters, including Congress President Mallikarjun Kharge.

Supreme Court’s Judgment: A Double-Edged Sword?

Earlier this month, a seven-judge bench of the Supreme Court, led by Chief Justice DY Chandrachud, delivered a landmark judgment permitting states to sub-classify communities within the SC and ST lists based on empirical data. While this decision was largely hailed as a step towards ensuring more equitable distribution of resources, it also introduced the controversial idea of applying the “creamy layer” concept to these historically marginalized groups.

Justice BR Gavai, in a concurring judgment, argued that states should evolve a policy to identify the creamy layer within SCs and STs and deny them the benefits of reservation. This suggestion has sparked a heated debate, with many, including Kharge, condemning the idea as fundamentally flawed and detrimental to the very purpose of reservations.

Kharge’s Stand: Protecting the Essence of Reservation

Mallikarjun Kharge has been vocal in his opposition to the Supreme Court’s observation regarding the creamy layer. He asserts that this concept, if implemented, would undermine the original intent of reservations, which was to combat the entrenched social discrimination and untouchability that members of SC and ST communities have faced for centuries.

“By bringing the creamy layer concept, you are effectively denying benefits to those who have been the most marginalized,” Kharge stated, highlighting the persistent social inequalities that continue to plague these communities. He argued that the basis for reservation has always been to address untouchability and social injustice, not economic status.

Kharge’s critique extends beyond the judiciary to the legislative domain. He believes that the government should have proactively brought forth legislation to nullify the Supreme Court’s observations on the creamy layer, thereby preserving the integrity of the reservation system. “If the government can push through other bills in a matter of hours, there is no reason why they couldn’t have addressed this issue in the same session,” he remarked.

The Broader Implications: A Call for Unity

Kharge’s comments come at a time when the political landscape is fraught with discussions on the future of reservations in India. He has called for a unified stance against the creamy layer concept, urging all stakeholders to ensure that this part of the judgment does not gain traction. According to Kharge, the ongoing privatization of public sector jobs, coupled with existing vacancies that are not being filled, further exacerbates the challenges faced by SC and ST communities in securing employment.

Government’s Position: A Reaffirmation of Constitutional Provisions

In response to the Supreme Court’s judgment, the Union Cabinet, led by Prime Minister Narendra Modi, has reiterated its commitment to the constitutional provisions laid down by Dr. B.R. Ambedkar. The government has maintained that there is no provision for a creamy layer in SC and ST reservations as per the Constitution, signaling its intent to uphold the current framework.

A Complex Issue with No Easy Answers

The debate over the creamy layer in SC and ST reservations touches on deeply entrenched social issues that go beyond mere economic criteria. While the Supreme Court’s judgment seeks to address disparities within these communities, it has also opened up a complex discussion on the future of affirmative action in India.

As the Congress continues its consultations with intellectuals, experts, and NGOs, the political and social ramifications of this judgment will likely be felt for some time. Kharge’s firm stand against the creamy layer concept highlights the broader concern that any dilution of the reservation policy could undermine decades of progress towards social equality.

In a country where untouchability and discrimination are still realities for many, the battle to protect the essence of reservations is far from over.

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In the Union Budget 2024-2025 presented by Finance Minister Nirmala Sitharaman, several key measures have been introduced that will impact the prices of various goods, making some items cheaper and others costlier. This budget, the first of the BJP-led NDA government, aims to shape India’s economic landscape, affecting everything from infrastructure development to social welfare programs.

Cheaper Items

The finance minister announced measures leading to the reduction in prices for mobile phones, gold, silver, and copper. Here’s a detailed list of items that have become cheaper:

  • Mobile Phones and Chargers: Basic Customs Duty reduced to 15%.
  • Gold and Silver: Customs duty reduced to 6%, and platinum to 6.4%.
  • Cancer Treatment Medicines: Three specific medicines exempted from Basic Customs Duty.
  • Solar Panels: Expansion of the list of exempted capital goods used in their manufacturing.
  • E-Commerce: TDS rate reduced from 1% to 0.1%.
  • Ferronickel and Blister Copper: Basic Customs Duty removed.
  • Shrimp and Fish Feed: Customs duty on various inputs exempted or reduced to 5%.
  • Leather and Textile Sectors: BCD on real down filling material reduced to enhance export competitiveness.
  • Ammonium Nitrate: Basic Customs Duty reduced from 7.5% to 10%.
  • Oxygen-Free Copper: Duty removed for the manufacture of resistors.
  • Critical Minerals: Customs duties fully exempted on 25 critical minerals for sectors like nuclear energy, renewable energy, space, defence, telecommunications, and high-tech electronics.

Costlier Items

Conversely, some items will see a price increase due to higher customs duties:

  • Ammonium Nitrate: Customs duty increased to 10%.
  • Non-Biodegradable Plastics: Duty increased to 25%.
  • Telecom Equipment: Specified equipment’s basic customs duty raised to 15% from 10%.
  • High-Value Goods: TCS of 1% on notified goods valued over ₹10 lakh.

Tax Changes

The finance minister also announced several changes to tax deductions:

  • Standard Deduction: Increased from ₹50,000 to ₹75,000 for salaried employees under the new tax regime.
  • Family Pension: Tax deduction increased from ₹15,000 to ₹25,000 for pensioners.

In last year’s budget, there were significant cuts in import taxes on various components, including camera lenses, to promote mobile phone manufacturing in India. The tax rate on lithium-ion batteries, essential for phones and electric vehicles, was also reduced to make manufacturing in India more cost-effective.

The Economic Survey 2024 predicts India’s GDP to grow between 6.5-7% this year, with retail inflation declining to 5.4% during 2023-24 from 6.7% previously. The survey, presented by Finance Minister Nirmala Sitharaman, emphasized ‘Service’ and ‘growth’.

Like recent budgets, Budget 2024 was delivered in a paperless format. An Interim Union Budget 2024 was previously presented on February 1, in anticipation of the general elections.

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New Delhi: Finance Minister Nirmala Sitharaman is set to table the Economic Survey in Parliament on July 22, just one day before the Union Budget. This annual document serves as a comprehensive report on the economy’s current state and provides a growth outlook for the future. Prepared by a team led by Chief Economic Adviser V. Anantha Nageswaran, the Economic Survey offers detailed statistical information and analysis on various economic sectors, including employment, GDP growth, inflation, and the budget deficit.

India, maintaining its position as the world’s fastest-growing economy, will present this Economic Survey amidst positive revisions from major financial institutions. The International Monetary Fund (IMF) recently raised its economic growth forecast for India for the fiscal year 2025 to 7 percent, up from the 6.8 percent projected in April.

“The forecast for growth in India has also been revised upward, to 7 percent, this year, reflecting carryover from upward revisions to growth in 2023 and improved prospects for private consumption, particularly in rural areas,” stated the IMF.

Similarly, in June, the Reserve Bank of India (RBI) revised its growth forecast to 7.2 percent from the previous 7 percent. The RBI projects that India is on track to achieve an 8 percent GDP growth trajectory on a sustained basis, driven by structural economic reforms such as the Goods and Services Tax (GST).

RBI Governor Shaktikanta Das noted, “If you look at the average growth India recorded over the three years, the average comes to 8.3 percent, and for the current year, we have projected a 7.2 percent growth.” He also highlighted that the Indian economy contributed 18.5 percent to global growth in the last financial year (2023-24), a significant increase from the lower figures of 7 or 8 years ago. The IMF has projected that this growth will continue to rise.

As India prepares to present the Economic Survey, the country’s economic resilience and growth prospects remain strong, positioning it favorably on the global economic stage.

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