Committee under NITI Aayog for nomadic, semi-nomadic communities

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February 1, 2019

Finance Minister Piyush Goyal on Friday said that a committee under NITI Aayog will be set up to complete the task of identifying de-notified, nomadic and semi-nomadic communities not yet formally classified.

While presenting the Budget for 2019-20 in the Lok Sabha, Goyal said that a welfare development board to frame special strategies for the benefit of the hard-to-reach de-notified, nomadic and semi-nomadic communities will be set up under the Ministry of Social Justice and Empowerment.

He proposed a substantial increase in the allocation for welfare of the scheduled castes and scheduled tribes.

The allocation of Rs 56,619 crore made in budget estimate of 2018-19 for scheduled caste, further increased to Rs. 62,474 crore in revised estimate is proposed to be enhanced to Rs 76,801 crore in BE for 2019-20, an increase of 35.6 per cent over BE of 2018-19.

For the scheduled tribes also, proposed allocation in 2019-20 BE is Rs 50,086 crore as against Rs 39,135 crore in BE 2018-19, an increase of 28 per cent, the minister said.

‘Excellent pro-farmer, pro-poor budget’, Jaitley praises Goyal

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Web Team

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February 1, 2019

Union Minister Arun Jaitley Friday complimented Piyush Goyal for delivering an excellent pro-farmer, pro-poor budget which will also strengthen the purchasing power of middle class.

Goyal, who was given the charge of the finance ministry temporarily recently, presented the Budget 2019-20 in absence of Jaitley, who is away in New York for medical treatment.

“The Budget is unquestionably Pro-Growth, Fiscally prudent, Pro-Farmer, Pro-Poor and strengthens the purchasing power of the Indian Middle Class,” Jaitley said in a series of tweets.

“Between 2014-19, every Budget has given significant relief to the Middle Class,” he added.

Jaitley said the Budget expands spending while pragmatically sticking to fiscal prudence.

He also noted that interim Budgets are also an opportunity for the government of the day to introspect their performance of the past five years and place its facts before the people.

Letters to the Editor: February 1, 2019

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Web Team

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February 1, 2019

What are the achievements of NDA government?

The President of India, Ram Nath Kovind, highlighting various achievements of the NDA Government, while addressing at a joint sitting of both Houses of Parliament, hailed the efforts to build a “New India” and touched upon issues like surgical strikes, Rafale deal, Swachh Bharat, Triple Talaq Bill, Citizenship Amendment Bill. Though these all may be the great achievement for NDA government, I want to ask the government what it has achieved in regard of core issues such as unemployment, poverty, rape, mob-violence, and a rapidly declining economy. These are the core issues which are crying for the close attention of the government so far.

Mohd Faheem

Be careful this winter

Nowadays, the cold is very extremely on the hills. There is a great kind of snow on the mountains and winter is getting cold in the areas of which the normal life has become disturbed. Because of snowfall, lives in Uttarakhand and Himachal are affected. The cold winter has broken the record of the past eight years in Delhi. Although there is no room to say that it has also stopped the speed of trains because it has been a good thing in terms of weather for a long period of time. We do not realise that climate change in India has been the highest in the last two decades. We should care about winter and always should wear warm clothes.

Hafiz Muhammad Ilyas

Financial Capital of India is insecure!

Delhi is the Capital governing this country and Mumbai is known to be Financial Capital of India. Mumbai is the Centre of several financial transactions. Mumbai has the biggest international airport; therefore, it can be said that ‘Mumbai city is the Gateway of India’. Mumbai is thickly populated. If a situation like 26/11 is created, it has been realised that the usual security system does not work effectively at such times. It has also been realized that helicopter based on Heli-Teli technique needs to be maintained at Mumbai from the point of security of this country. Even then, there has been no improvement in conditions. In case of a serious, dangerous and explosive situation like 26/11, National Security Guard (NSG) commandos are capable of handling such situation and they are trained for the same. It is most essential to have such regiment deployed in Mumbai but that has not been done so far. When will the Rulers, who are indifferent towards the security of the country and consequently of people, realise their basic duty? Security of people seems to be left to God.

Kishor Auti

What on earth is happening?

Supreme court Justice Nariman is opining on the Sanskrit Prayer in the morning in Kendriya Vidyalaya and the shloka recited in the end as religious instructions. What on earth is happening? A prayer or a shloka? To be more correct, ‘Om Saha Na Bhavatu Sah No Bhunaktu Sah Viryam Karvavhe’, how this prayer is a violation of the Constitution? While saying ‘our Father who art in Heaven, Halloed be thy name.’

For the last 70 odd years of the implementation of our Constitution, frankly, I feel like saying ‘Hail Mary Full of Grace’ as a novina and ask her to interseed on our behalf and make these Judges see light. What are you doing to this Indian Great Culture of ours? Maybe like Christ we might have to pray. ‘Father, Forgive them for they know not what they do!’

Manasi Joshi

#Budget2019 Live Updates: Here are the Key Highlights

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Web Team

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February 1, 2019

TAX

1) Within 2 years, Tax assessment will be done electronically.

2) IT returns processing in just 24 hours.

3) Minimum 14 per cent revenue of GST to states by Central Govt.

4) Custom duty has abolished from 36 Capital Goods.

5) Recommendations to GST council for reducing GST rates for home buyers.

6) Full Tax rebate up to Rs 5 lakh annual income after all deductions.

7) Standard deduction has increase from Rs 40,000 to Rs 50,000.

8) Exempt on tax on second self-occupied house.

9) Ceiling Limit of TDS u/s 194A has increased from Rs 10,000 to Rs 40,000.

10) Ceiling Limit of TDS u/s 194I has increased from Rs 1,80,000 to Rs 2,40,000.

11) Capital tax Benefit u/s 54 has increased from investment in one residential house to two residential houses.

12) Benefit u/s 80IB has increased to one more year i.e. 2020.

13) Benefit has given to unsold inventory has increased to one year to two years.

OTHER AREAS

14) State share has increased to 42 percent.

15) PCA restriction has abolished from 3 major banks.

16) 2 lakhs seats will increase for the reservation of 10 percent.

17) Rs 60,000 crores for MGNREGA.

18) Rs 1.7 Lakh crore to ensure food for all.

19) 22nd AIIMS has to be opened in Haryana.

20) Approval has to be given to PM Kisan Yojana.

21) Rs 6,000 per annum has to be given to every farmer having up to 2 hectare land. Applicable from September 2018. Amount will be transferred in 3 installments.

22) National kamdhenu ayog for cows at Rs 750 crores for National Gokul Mission.

23) 2 per cent interest subvention for farmers pursuing animal husbandry and also create separate department for fisheries.

24) 2 per cent interest subvention for farmers affected by natural calamities and additional 3 per cent interest subvention for timely payment.

25) Tax free Gratuity limit increase to 20 Lakhs from 10 Lakhs.

26) Bonus will be applicable for workers earning Rs 21,000 monthly.

27) The scheme, called Pradhan Mantri Shram Yogi Mandhan, will provide assured monthly pension of Rs 3,000 with contribution of Rs 100 per month for workers in unorganised sector after 60 years of age.

28) Our government delivered 6 crores free LPG connections under Ujjawala scheme.

29) 2 per cent interest relief for MSME GST registered person.

30) 26 weeks of Maternity Leaves to empower the women.

31) More than 3 Lakhs crores for defence.

32) One lakh digital villages in next 5 years.

33) Single window for approval of India film makers.

FM Piyush Goyal presents Budget

1) I can confidently say, India is solidly back on track and marching towards growth and prosperity.

2) Inflation is a hidden and unfair tax; from 10.1 per cent during 2009-14, we have broken the back of back-breaking inflation.

3) Inflation in December 2018 was 2.1 per cent. Fiscal deficit has been brought down to 3.4 per cent in the revised estimate of 2018-19.

4) Current account deficit is expected to be 2.5 per cent this year.

5) Almost Rs 3 lakh crore has already been recovered in favour of banks and creditors, big defaulters have also not been spared by our government.

6) Recapitalisation of banks amounting to Rs 2.6 lakh crore has been done.

7) We are moving towards realizing the dream of New India by 2022.

8) As a tribute to Mahatma Gandhi, world’s largest behavioural change movement Swachh Bharat initiated; more than 98 per cent rural sanitation coverage has been achieved; more than 5.45 lakh villages declared ODF.

9) Efforts have been initiated to bring full representation for economically weak backward classes, by giving them reservation in jobs and education.

10) During 2014-18, 1.53 lakh houses have been constructed under PM Awas Yojana.

11) Rs 1,70,000 crore spent for bringing food at affordable rates to poor people.

12) Pace of construction of rural roads has been tripled under our tenure.

13) Ayushman Bharat the world’s largest healthcare programme was launched to provide medical care to almost 50 crore people, resulting in 3,000 crore savings by poor families.

14) For the welfare of farmers and for doubling their income, historic decision was taken to increase MSP by 1.5 times the production cost for all 22 crops.

15) To provide assured income support for small and marginal farmers, Pradhan Mantri Kisan Samman Nidhi scheme has been approved.

16) Under the Pradhan Mantri Kisan Samman Nidhi, Rs 6,000 per year for each farmer, in three instalments, to be transferred directly to farmers’ bank accounts, for farmers with less than 2 hectares landholding. This initiative will benefit 12 crore small and marginal farmers, at an estimated cost of Rs. 75,000 crore.

17) Instead of rescheduling of crop loans, the farmers severely affected by natural calamities will get 2 per cent interest subvention and additional 3 per cent interest subvention upon timely repayment.

18) Increased allocation for Rashtriya Gokul Mission to 750 crore in current year.

19) 50 per cent of the GDP comes from sweat and toil of 42 crore workers in unorganised sector.

20) A pension scheme is being launched called Pradhan Mantri Shram Yogi Mandhan, to provide assured monthly pension of 3000 rupees per month, with the contribution of Rs 100 per month, for workers in unorganised sector after 60 years of age. Will benefit 10 crore workers in unorganised sector, may become the world’s biggest pension scheme for unorganised sector in five years.

21) Gratuity limit increased from Rs 10 lakh to Rs 30 lakh.

22) To ensure cleaner fuel and health assurance, we embarked upon Pradhan Mantri Ujjwala Yojana, a programme to give 8 crore free LPG connections to rural households, 6 crore connections have been given already.

23) 75 per cent of woman beneficiaries under Pradhan Mantri Mudra Yojana, 26 weeks of maternity leave and the Pradhan Mantri Matritva Yojana, are all empowering women in the country.

24) Rs 1 crore loan can now be obtained under 59 minutes.

25) Committee under NITI Aayog to be set up to identify and denotify nomadic and semi-nomadic communities.

26) Nine priority areas identified; National Artificial Intelligence Portal to be developed soon.

27) Our soldiers are our pride and honour; ‘One Rank One Pension’, which was pending for the last 40 years, has been implemented by us.

28) We have already disbursed Rs 35,000 crore for our soldiers under ‘One Rank One Pension’, substantial hike in military service pay has been announced.

29) Defence budget enhanced beyond Rs 3 lakh crore.

30) Today, India is the fastest highway developer in the whole world with 27km of highways built each day.

31) India has achieved over 98 per cent rural sanitation coverage.

32) Vande Bharat Express will provide speed, service, and safety to citizens and will give a boost to Make in India.

33) Allocation for NorthEasternRegion proposed to be increased to Rs 58,166 crore in this year, a 21 per cent rise over previous year.

34) Today there is not a single unmanned railway crossing on the broad gauge in India.

35) An urgent action is needed to increase hydrocarbon production to decrease imports.

36) A single window clearance for filmmaking to be made available to filmmakers, anti-camcording provision to also to be introduced to Cinematography Act to fight piracy.

37) Cost of data and voice calls in India is now possibly the lowest in the world; mobile and mobile part manufacturing companies have increased from 2 to 268.

38) In the last 5 years under all categories of workers, minimum wages increased by 42 per cent which is the highest ever.

39) Direct tax collections from Rs 6.38 lakh crore in 2013-14 to almost Rs 12 lakh crore; tax base up from Rs 3.79 crore to Rs 6.85 crore.

40) 6 crore free LPG connections provided under Ujjwala yojana.

41) Within almost 2 years, almost all assessment and verification of IT returns will be done electronically by an anonymised tax system without any intervention by tax officials.

42) GST has been continuously reduced resulting in relief of Rs 80,000 crore rupees to the consumers; Most items of daily use are now in the 0 per cent -5 per cent tax bracket.

43) The Group of Ministers is examining how prospective house buyers can benefit under GST.

44) GST collections in January 2019 has crossed Rs 1 lakh crore.

45) Committed to eliminating the scourge of black money; anti-black money measures taken have brought an undisclosed income of about Rs 1.30 lakh crore to the fore; 3.38 lakh shell companies were deregistered.

46) 18 per cent increase in direct tax collections in 2017-18, 1.06 crore people included in the tax base.

POINTS TO BE NOTED

* Individuals with gross income up to Rs 6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities.

* Standard tax deduction for salaried persons raised from Rs 40,000 to Rs 50,000.

* TDS threshold on interest on bank and post office deposits raised from Rs 10,000 to Rs 40,000.

* TDS threshold on rental income raised from Rs 1.8 lakh to Rs 2.4 lakh.

* Benefit of rollover of capital tax gains to be increased from investment in one residential house to that in two residential houses, for a taxpayer having capital gains up to Rs 2 crore; can be exercised once in a lifetime.

*Benefits under Sec 80(i)BA being extended for one more year, for all housing projects approved till end of 2019-2020.

Mumbai Congress to conduct consultation program, aims to create narrative against fascist tendencies of BJP govt

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Web Team

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February 1, 2019

Mumbai Congress, under the leadership of Sanjay Nirupam, has organised wider consultations with members of NGO’s, civic activists, human rights groups and public spirited organisations across the city on February 1. This program has been conducted keeping in mind the sudden spurt in violations of human rights, freedom of speech, mob lynching, targeting minorities in an attempt to polarize, discrimination against dalits and minorities.

Mumbai Congress President Sanjay Nirupam adds, “In wake of the rising issues which are a threat to the communal harmony and secularism of the country, Congress President Rahul Gandhi has constituted AICC Civic and Social Outreach Congress and appointed Senior Congress Leader, AICC General Secretary and Rajya Sabha MP Madhusudan Mistry as its Chairman. We need to form a common narrative against the BJP Govt and its anti-people policies which have been proven to be a serious blow to every segment of the population. The program which will commence in Mumbai will also take place in different parts of the country later”.

Along with Madhusudan Mistry, former MP Sandeep Dikshit will be conducting these consultations as well in the future.

The Mumbai Congress Unit Chief has requested activists working across multiple sections of the society to actively participate in these consultation programs which will not only help the people raise and unify their voice against the atrocities of the BJP Govt but will also overthrow this fascist Govt in the upcoming polls. This program will take place on February 1 at 3 pm at the IMC Chamber of Commerce and Industry in Mumbai.

Beating the bush on Rafale

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C K Subramaniam

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February 1, 2019

Whether it is Bofors or Rafale, it is our regular feature of beating the bush on defence matters. The deals are kept as a top secret and under the present set up, it has become an open secret. Defence Ministry’s has every right to make a unilateral decision considering national security in mind and the controversy thus created is for political gains and nothing else.

The MoD has clearly established the facts and figure and the print media is indulging in catchy captions for grabbing and sensationalism and increasing the newspaper sale. Thus, from quoting 41.42 per cent and 14.2 per cent from the article, and pointing out 41 per cent which is arrived at based on price from two different periods is not in good taste. This is extremely serious considering that esteemed news media’s reputation earned over more than a century has gone to waste. It pains me as a citizen of India and on a high pedestal criticise with facts and figures and not for taking revenge on the ruling party. Definitely, it calls for an explanation or an apology for the journalistic neutrality. Moreover, how one can assume a constant price of the aircraft which is supposed to be produced by HAL and spread over several years? How to account for the production cost which will be affected by various factors like the cost of raw material, foreign exchange, labour cost etc., which are difficult to predict. Even in a two-wheeler, we fix up depreciation and here appreciation in price is a matter of interest over a period of time is just a matter of argument. Why this is ignored? So, logically, the NRE cost should be absorbed in the first 18 vs 36 in the current deal. In that case, the table will turn.

In the wake of newspaper wrong reporting for political gains, the opposition is taking advantage of the government’s strict adherence to national security concerns, in this case the need to keep the details of sensitive weaponry etc. associated with the combat aircraft ordered, top-secret lest the enemy will take advantage of eventually rendering the huge investment on 36 invincible war machines a colossal waste. Let us not play ourselves into the hands of our enemies and pay a heavy price for the same.

The more pertinent and relevant question to ask is that over the course of 70 plus years of political freedom, why did not our political establishment, build up the indigenous capability to manufacture aircraft in general and fighter aircraft in particular? Thousands of fighter aircraft have been imported and multiple technology transfer agreements struck: Yet HAL is unable to manufacture fighter aircraft on its own. Why this is and what has been the role of the political establishment, the bureaucracy, the media and the judiciary in this? If only HAL or any other PSU was allowed to develop this capability, there would be no need for a discussion on the Rafael deal now. When we can send a rocket to the moon and arrange for sending people to the planet, why not we push our efforts to gather momentum and hit a purple patch in the production of fighter air crafts as well.

The opposition should realise their role in national politics and instead of creating ruckus in parliament and the opposition should not create a division between Hindu vs Muslim card, Dalit vs Pandit, Lynching vs Cow, Demonetisation vs Counterfeit, Assam vs Migrants, Jobs vs Jumla, Farmers vs GST, Verma vs Asthana, Patel statue vs Chinese and act as a responsible opposition. The opposition needs to create controversies all over defence issues and trying to become heroes. But public memory is not short on this count.

Most of the Indians have full faith in our government and no article or no post article noises can alter our faith. We all are aware of things and we can judge things based on their own merits and no amount of discussions, articles etc. can alter our discretion and our thought process. The opposition wants to paint the government as corrupt and inept since there are multiple cases pending on many opposition leaders and that would come up for discussion and it cannot be diluted. So an illusory case has been carved out for propaganda to bamboozle the people. But interestingly the people are very shrewd to see through all the power games in play. The media is least neutral and talk for one or the other party according to its choice. Still, we have wait and see what people have to say in the ballot box.

(The views expressed by the author in the article are his/her own.)

Pammi Aunty Enthrals

By

Web Team

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February 1, 2019

Today social media has become a way of life, there are some people who are on social media for work, some to connect with friends and old buddies and then there are some who are a sensation and are followed by millions world over. From various corporate houses to different country tourism offices, from a television appearance, to advertisements to stage shows they are all over and everywhere. I am talking one such superbly popular face ‘Pammi Aunty’.

Ssumier S Pasricha aka Pammi Aunty is known for creating viral videos in which he plays the character of our beloved ‘Pammi Aunty’. But to me, he a dear friend who is a true artist or should I say a complete artist. Let me bring to your notice that Ssumier is a singer, musician, photographer, dancer, actor, writer, radio jockey, comedian, television presenter, social activist, philanthropist and lot more, he is a star in a true sense.

I have known Ssumier lot before Pammi Aunty came into his life, I first met this highly creative man when he came to my dance festival ‘India Dance Week’ to encourage all dancers and dance lovers who had gathered from all over India to showcase their talent and then I was fortunate to work with him and make him dance to my tunes for a theatre production ‘Amavas se Amaltas Tak’ directed by National award winning director Smita Bharti where he beautifully played the role of an autistic man alongside stars like Jayati Bhatia, Ankita Bhargava and Chitrashi Rawal.

He recently performed for Kalashree Lata Surendra event ‘World Dance Congress’, where he mesmerised audiences with his Kuchipudi dance skills. After his enthralling dance I sat down with him and made him look back into his life as an artist and this is what he had to say;

Tell us all about your training in dance and music!

My mom says, I started dancing at the age of five when my sister started learning Kathak and I would move my feet to her rhythm. The turning point in my dance happened when I was 18 and I got a chance to perform with

I have extensively trained and learnt music for 13 years out of which my training in Hindustani classical music was for 7 years under the guidance of Guru Vipin Chandra from Gandharva Maha Vidhyalya and light music for 6 years from Guru Baisakhi Samajhdar.

Why did you keep the dance side of your talent hidden from all your fans for so long?

(Laughs) honestly, I did not hide my dance talent, few friends like you did know all about it, but yes, it is now that I got a chance to show it to all. While I was learning with Guruji, I shifted to Australia for higher studies and could not follow my love for Kuchipudi there as there were no teachers, but Australia made me discover a new side of my personality and that was of a radio jockey. When I returned to India, I moved to Mumbai to pursue my passion for acting. Films, television serials, theatre, television commercials, etc took up a lot of time and I guess in all that rush, dance did take a backseat. But I am thankful to Lata ji for igniting the fire back again, for this performance I especially went back to Guruji in Delhi and brushed up my skills of Kuchipudi and I have promised him that I will not let this fire fade.

Now that you have stepped onto the stage again what are your future plans?

Yammi Reddy for a show where her father the Kuchipudi legend Padma Bhushan Raja Reddy ji saw me dance and offered to take me under his wings. I learnt for over six years from the expert himself, those days of my dance training have made me an enriched soul.

My plan is to surly continue to dance, I want to learn dance again from the best of the best and that is my Guruji the dancing duo Radha Raja Reddy, I will stick to my promise made to Guruji, because for me dance is not just an exercise but it is a discipline that is a great pooja (prayer) for me and I love doing it.

Dancing, acting, singing, photography, playing various instrument you know it all. Anything more that you wish to explore as an artist?

Acting, dancing and singing have always been a part of me. Photography too always fascinated me and I am happy that I got a chance to do photoshoots for prestigious magazines such as National Geographic and photographs clicked by me have been carried by other international magazines in Spain, Australia, New Zealand and more. As far as music is concerned, I play the Table and the Harmonium but I want to explore playing the Piano and the Mridangam, these two instruments have always fascinated me and soon I will take them up too.

Tell me about every ones favourite Pammi Aunty, how did she come around?

In my life I am doing everything possible and all that I love to do and very few people get a chance to do so. I feel I am the selected one and the gifted one by the almighty, I am truly blessed. Pammi Aunty is an unplanned kid of mine. Two and half years ago, I had taken a sabbatical from my television work and one fine day, I ranted a few lines and posted it on social media, some people loved it and some did not. I did it for a few days in a row and to my surprise and luck it got viral and lots of renowned people tweeted about it and started to follow me. Honestly, I did not have a chance to go back post that and now Pammi Aunty has reached to a level through which everyone knows me.

So now will we see Pammi Aunty dance?

Pammy aunty is a typical Punjaban lady, she surely dances the Punjabi folk dances the Gidda and the Bhangra, but she will not do classical dances. The world of classical dance and music is a personality of Ssumier and not of Pammy Aunty, if Pammy Aunty is asked about Ssumier’s dance she will say ‘Yeh ki faltu na dance nachi jarahehai, apna Punjabi sabse bast haiga’ (What rubbish are you dancing, our Punjabi is the best) that is would she would say (Laughs)!

By-Sandip Soparrkar

(Disclaimer: The opinions expressed within this article are the personal opinions of the author. The facts and opinions appearing in the article do not reflect the views of AFTERNOON VOICE and AFTERNOON VOICE does not assume any responsibility or liability for the same.)

Expectations of Power Sector from Budget Session 2019-20

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Web Team

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February 1, 2019

Unavailability of coal is one of the primary reasons for stress in thermal generation. We expect the Coal Ministry to lay down a specific timeline and an intensive budget to ramp up coal production of CIL and its subsidiaries to meet sector demands. It would also lead to decrease in import dependency in long run, until then, taxes on imported coal which is 5 per cent should be reduced to half so that demand of thermal coal is met at lower landed cost.

Seeing the boom in renewables and now that India has a fairly large capacity addition in solar and wind, clean energy cess which is around Rs 400/Ton charged on coal, can be considered to be brought down to Rs100/Ton given the current scenario of stress where, cost of coal has gone exorbitantly high on account of high premium paid in e-auctions/special forward auctions or coal procured from the international market in the absence of FSA (Fuel Supply Agreements) and less frequent coal auctions for IPPs. As coal is a ‘pass through’ cost, it is in turn borne by the consumers and any relaxation would benefit the consumers themselves.
We may expect that a part of expenditure is set aside for dedicated freight corridors and building infrastructure for online monitoring of transportation of coal where most of the slippages happen,which can also ensure the quality of coal and contracted quantity.
Through Central Schemes, the Government should incentivise foreign manufacturers to set up units in India for Power Equipment, Solar Cells, Energy Storage Devices, Smart Grid Equipment, Smart Meter/AMI components, etc. Solar capacity addition has gone up to an all-time high. Further additions are also expected and it is the right time to bring the OEMs to India as we are still importing a large chunk of components. FGDs installation for around 2,00,000 MW is mandated for installations in thermal power plants which is most likely to be imported, not a desirable scenario when the rupee keeps sliding against the USD.
The long-debated DBT (Direct Benefit Transfer) Scheme linked through AADHAR should be implemented for electricity consumers for subsidizing a particular consumer category.
For many of the stressed power plants, the high-interest rate charged on loans is also a reason for their troubles. It is imperative to assess the total debt burden of each stressed power company, and then determine the sustainable and unsustainable portions of the debt. To help these plants to tide over the situation, the interest rate charged can be reduced to say 9 per cent from the beginning of the loan and the penalties waived. The unsustainable portion of the debt may be converted to 10-15 years’ Redeemable Preference Shares.
The primary focus of all the stakeholders should be to preserve and protect the principal amount that the banks have lent to these projects so far and to ensure that the stressed power assets are maintained in a reasonable working condition. To make that happen, the ideal move on the part of the government would be to bring together the banks and project promoters and build a consensus to resolve issues on a case-by-case basis.
Every year, the Centre shares tax revenue with all the states. Of the total collection, 42 per cent goes to the states. The government may evolve a mechanism whereby before allocating the share of tax revenue to the respective states, the Central Government may directly pay off the gencos the amount that was due from the SEBs. The remaining amount can then be transferred to the states. In case a state government ends up receiving an amount which is not adequate to cover its administrative costs, the Central Government may consider paying off the gencos’ dues in a staggered manner, say over 3 or 4 years, so that the gencos are assured a steady revenue stream and the state governments also get enough to meet their administrative expenses.
With electricity kept outside the purview of GST, set-off of taxes in power generation, transmission and distribution have not been rationalized with the resultant increase in the cost of power due to the cascading of taxes. Once electricity is brought within the GST regime, the GST-induced cost reduction can stimulate all sectors, especially the manufacturing sector. This, in turn, will be a shot in the arm for the Make in India initiative.

(The author of the article is the Managing Director, India Power Corporation Ltd.)

By-Raghav Kanoria

(Disclaimer: The opinions expressed within this article are the personal opinions of the author. The facts and opinions appearing in the article do not reflect the views of AFTERNOON VOICE and AFTERNOON VOICE does not assume any responsibility or liability for the same.)

#Budget2019 Live Updates: A healthy India with distress-free and comprehensive wellness system for all

By

Afternoon Voice

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February 1, 2019

Finance minister Piyush Goyal is all set to present Narendra Modi government’s sixth and final Budget. Get live updates of Interim Budget 2019 along with highlights & budget 2018-19 analysis on Afternoon Voice.

Live Streaming by PIB:

Demonetisation a mega scam, unemployment at highest since independence, says Kejriwal

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Web Team

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February 1, 2019

Delhi Chief Minister Arvind Kejriwal on Friday took a jibe at the central government calling demonetisation a “mega scam” and said that unemployment was at its highest since independence.

Taking to Twitter, the Aam Aadmi Party (AAP) leader said, “Demonetisation was not a disaster, it was a mega scam. It destroyed India’s economy & irrespective of whichever fraud Modi govt might indulge in to hide NSSO data, everyone in this country knows the unemployment rate is the highest now than ever since 1947.”

Demonetisation was not a disaster, it was a mega scam. It destroyed India's economy & irrespective of whichever fraud Modi govt might indulge in to hide NSSO data, everyone in this country knows unemployment rate is the highest now than ever since 1947

— Arvind Kejriwal (@ArvindKejriwal) February 1, 2019

His remarks come a day after President Ram Nath Kovind on Thursday justified the Prime Minister Narendra Modi-led central government’s demonetisation move and said that it had “struck at the very root” of the country’s parallel black economy.