GDP to grow 6.5% in 2023-24: Survey
Summary:
India's Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman predicts that India's GDP will grow 6.5% in 2023-24 and 7% this year, despite global uncertainties and a slowing world economy. The report says that India's economy has nearly "recovered" from the COVID pandemic and is "re-energized". The final growth outcome for 2023-24 could be between 6% to 6.8% and inflation is expected to be "well-behaved." The report also acknowledges the monetary and fiscal risks in the country, including a widening current account deficit and entrenched inflation, which may prolong the monetary tightening cycle. The report suggests that India is prepared to grow at its potential once the "one-off shocks" recede and the financial cycle is poised to turn upward after a long period of balance sheet repair in the financial and corporate sector.
₹1.56 lakh cr. GST mop-up in Jan. second highest so far
Summary:
India’s Goods and Services Tax (GST) revenue reached nearly INR 1.56 lakh crore ($21.3bn) by Tuesday evening in January, marking the second highest monthly collection since the launch of the indirect tax regime in July 2017. This collection is 10.6% higher than the same month the previous year and 4.3% over December’s collections. The highest revenue under the GST system was recorded in April 2022, with INR 1.67,540 crore. The Finance Ministry attributes the increase in revenue to better compliance in filing returns and various policy changes introduced to improve compliance, leading to an improvement in the number of people filing GST returns.
GST stands for Goods and Services Tax, which is a comprehensive, indirect tax levied on the supply of goods and services in India. It replaces various indirect taxes such as VAT, service tax, and excise duty, and aims to simplify the tax system and make it more unified and transparent. GST is levied at different rates for different goods and services, and is collected at each stage of the supply chain. The GST collected by the government is divided between the central and state governments, with the former collecting the Central GST and the latter collecting the State GST. The GST regime has been in place in India since July 2017 and has helped streamline the indirect tax system, reducing the burden of taxes on businesses and consumers.
Sisodia writes to Saxena, reminds him to clear file on teachers’ Finland visit
Summary:
Delhi’s Deputy Chief Minister Manish Sisodia has asked Lieutenant-Governor V.K. Saxena to approve a proposal to send Delhi government teachers to Finland for training. The file, which has been returned twice, was sent for the third time on January 20. The Lieutenant-Governor held a meeting on the recruitment of Delhi government teachers on Tuesday. The Chief Minister and the Deputy CM have criticized the Lieutenant-Governor for his decision to return the proposal, which they view as an attack on Delhi’s education model. The training of 30 teachers, which was scheduled to take place in March 2023, is now on the verge of cancellation.
Privilege motion moved against Rajasthan MLA for plea in HC
Summary:
A motion was moved against the Deputy Leader of the Opposition and senior BJP MLA, Rajendra Rathore, in the Rajasthan Assembly due to his involvement in a public interest litigation in the Rajasthan High Court. The matter related to the resignation of 81 ruling Congress MLAs after a failed meeting in September 2022. Sanyam Lodha, an Independent MLA and adviser to the Chief Minister, accused Rathore of breaching the privilege of the Assembly and insulting the electorate by approaching the court. The Speaker of the Assembly, C.P. Joshi, announced a decision on the motion would be taken shortly.
PM CARES Fund administered like PM’s National Relief Fund, HC told
Summary:aThe PMO (Prime Minister's Office) has told the Delhi High Court that the PM CARES Fund is administered similarly to the Prime Minister's National Relief Fund (PMNRF) as both are chaired by the Prime Minister and the national emblem and domain name 'gov.in' are being used for both funds. The PMO stated that the PM CARES Fund is not a government fund as donations do not go to the Consolidated Fund of India. The PM CARES Fund has been set up as a Public Charitable Trust and the PMO stressed that no third-party information can be shared regardless of its status. The case was in response to a petition by a lawyer seeking to declare the PM CARES Fund as a 'State' under the Constitution and another separate petition to declare PM CARES as a 'public authority' under the RTI Act.
Only Family Courts can issue Khula certificates to Muslim women :HC
Summary:
The Madras High Court has ruled that Muslim women in India can only seek divorce through Family Courts and not through self-declared private bodies such as Shariat Councils. The court declared that Khula certificates issued by private bodies are invalid in law. The judge ordered the estranged couple to approach either the Tamil Nadu Legal Services Authority or a Family Court to resolve their disputes. The direction was issued while allowing a writ petition filed by a man to quash the Khula certificate obtained by his wife from the Shariat Council in 2017. The man had claimed that the council had no authority to issue such certificates.
IIT-Bombay gets notice over lack of mental health support for SC/ST students
Summary:
The National Commission for Scheduled Tribes (NCST) in India has issued a three-day ultimatum to the director of the Indian Institute of Technology (IIT) in Bombay seeking a report on the mental health support for Scheduled Caste/Scheduled Tribe (SC/ST) students in the college. The NCST began investigating the matter in June last year after a complaint was filed against the Student Wellness Centre in the campus for lack of SC/ST counsellors and the head counsellor holding anti-reservation sentiments. The complaint added that such sentiments made the students feel intimidated and uncomfortable in seeking mental health counselling. The NCST had issued a notice to the Ministry of Education in November last year and if the report is not submitted in time, the NCST might use its powers as a civil court to summon officials concerned.
Snakes claim more human lives than wild elephants, says Kerala Forest Department
Summary:
Snakes have taken the lives of twice as many people as wild elephants in Kerala, India, according to the Forest Department. 50 people were killed by snakebites in the state last year, compared to 25 by wild elephants, while wild boar attacks led to seven deaths and gaur attacks resulted in five fatalities. The Forest Department has implemented measures for the scientific handling of snakes and rescue operations for victims. The population of tigers and elephants in the state remains stable, despite popular theories of population explosions. The state government has considered introducing birth control methods for controlling the wild elephant population, but a suggestion to seek permission for culling tigers was met with opposition from conservationists.
EDITORIAL
The Economic Survey that wasn’t
Summary:
The 2022-23 Economic Survey in India has been criticized for not prompting any public discussion or deliberation. The survey is viewed as a dry compilation of data to support the Modi government's economic performance, with cherry-picked data points to present a positive image of the government's economic management and blaming the previous regime for all issues. The survey provides data on the housing market, digital infrastructure, and the Indian economy's recovery from the pandemic but is cautious about future growth and inflation. The chapter on the social sector delves into employment, rural wages, and human capital topics but lacks analytical discussions. The survey concludes that the PM's minimum government, maximum governance vision will hold the key to equitable economic growth, which sounds like a BJP manifesto.
The quest for hope in Myanmar
Summary:
Myanmar is facing a political impasse two years after the military staged a coup and snatched power from elected leaders. There are now three camps in Myanmar: the military in major towns, the opposition National Unity Government and its partners in the countryside, and the ethnic groups divided into those that are pro-military, pro-NUG, or neutral. The situation has become violent with frequent clashes, a sharp decline in GDP, a rise in poverty and unemployment, and a currency in free fall. The international community is divided on the crisis, with the West condemning the junta, while China and Russia are forging close cooperation with the government. India wants a stable and prosperous Myanmar, but follows the policy of dealing with the government of the day. India's Myanmar experts are divided, with one group advocating a studied opening towards the NUG, while the other wants the government to stay the course.
The funding and demand for MGNREGA
Summary:
The Economic Survey in India predicts that the country's GDP will grow 6.5% in 2023-2024, after an estimated 7% growth this year, due to solid domestic demand and increased capital investment. The survey notes that inflation may be a risk, but not enough to deter private consumption or investment. Monetary and fiscal authorities must stay proactive and vigilant on inflation and the current account deficit, which may result in currency depreciation. The survey suggests that over the medium term, growth rate could be around 6.5% with the potential to go up to 7% and 8% with macroeconomic stabilizationization, fiscal consolidation, and continued investment in infrastructure and reforms.
Don’t take up Data Bill till House debates it: Centre
Summary:
The Indian Supreme Court will examine whether to wait for Parliament’s decision on a new online Data Protection Bill or to proceed with a hearing of a set of petitions against WhatsApp’s policy of sharing user data with Facebook. Solicitor-General Tushar Mehta stated that the court should not discuss the bill until Parliament has debated it. He added that the bill presented a comprehensive legal framework for digital data protection in India and that the government intended to introduce the bill in Parliament in February. Meanwhile, senior advocate Kapil Sibal argued that the court should deal with the problem after Parliament has formulated the law, especially when non-state actors are involved. The hearing was in response to a plea by two students challenging the contract between WhatsApp and Facebook, which provides access to user-shared calls, photos, texts, videos and documents, as a violation of privacy and free speech.
Decisive government working with lofty ambitions: President
Summary:
President Droupadi Murmu has given her maiden address to the joint sitting of the two Houses of Parliament, where she highlighted the changes in India since 2014, when the current government, led by Narendra Modi, took office. Murmu said the biggest change is that every Indian's confidence is at its peak and the world's outlook towards India has changed. She spoke of the stability, fearlessness, decisiveness, and lofty ambitions of the current government and the success of several government programs such as Har Ghar Jal, Pradhan Mantri Kisan Samman Nidhi, and the G-20 Presidency. Murmu also dedicated a significant part of her speech to government policies related to women's empowerment. The Bharata Rashtra Samithi and the Aam Aadmi Party boycotted the address.
Share of education in budgetary allocations has fallen over the past seven years: Survey
Summary:
The Indian economy is recovering from the pandemic-induced blues, and the outlook for the next few years is positive, according to the latest Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman. The survey predicts that India's GDP will grow 6.5% in 2023-24, after an estimated 7% this year, driven by solid domestic demand and a pickup in capital investment. The survey acknowledges some uncertainties in the global economy, but the country is confident that India's growth will continue despite these challenges. The survey also expects inflation to be well-behaved in 2023-24 and suggests that monetary and fiscal authorities will need to stay proactive and vigilant on inflation and the current account deficit. The medium-term growth rate is predicted to be around 6.5%, with a potential to go up to 7% and 8% with macroeconomic stabilizationisation and reforms in areas such as infrastructure building, women's employment and dismantling of licensing regimes.
Mosque blast toll hits 100; Pak. blames ‘security lapse’
Summary:
The death toll from a suicide bombing at a mosque in a police compound in Peshawar, Pakistan, rose to 100 with 225 wounded, some in serious condition in hospital. More than 300 worshippers were praying in the mosque when the attacker detonated his explosives vest, causing part of the roof to collapse and injuring many more. Officials have called the bombing a "security lapse" and the Inspector-General of police has set up an inquiry committee to look into all aspects of the bombing.