Karnataka Chief Minister Siddaramaiah presented his 15th budget with a record Rs 3.71 lakh crore. The budget includes measures to tackle fake news and violence, as well as increased outlays for irrigation and infrastructure projects. However, the budget was criticised by the opposition BJP and JD(S) for lacking direction and commitment.
Budget 2023-24: Key Highlights and Analysis
The Union Cabinet approved the Union Government's first post-coronavirus lockdown (COVID-19) Union Economic Survey Report on January 28, 2021. It was the 15th report released by the Union government in the series. The report was presented to the Union Cabinet, which is a group of ministers led by the Prime Minister. The Cabinet is made up of individuals chosen by the Prime Minister. The report provides an assessment of the economic situation of the country and offers suggestions for economic policymaking.
The report's key findings are as follows:
India's real GDP growth rate is expected to be 8.0% in the financial year 2022-23.
The report expects the Indian economy to increase by 8.8% in real terms in the financial year 2023-24.
India's real GDP growth rate is expected to be 8.0% in the financial year 2024-25.
India's GDP growth rate is expected to be 8.0% in real terms in the financial year 2025-26.
India's real GDP growth rate for the period 2026-27 is expected to be 8.0% in the financial year.
The report also provided a detailed review of India's economic situation. In the report are mentioned the following key features:
The Indian economy is growing at a strong and constant rate.
India's economy is supported by solid domestic demand.
India's economy is supported by strong international demand.
India's economy is underpinned by strong government policy.
India's financial sector is stable and sound.
India's financial markets are developing and vibrant.
India's financial market is open and growing.
India's financial market is supported by a solid legal and policy environment.
India's foreign exchange market is stable and growing.
India's foreign exchange market is open and growing.
India's foreign exchange market is supported by a sound legal and policy environment.
India's financial markets are open and growing.
India's financial markets are supported by a solid legal and policy environment.
India's financial sector is stable and sound.
India's economic outlook is positive and stable.
India's economy is expected to continue to grow at a strong and constant rate.
India's economy is supported by strong domestic demand.
India's economy is supported by strong international demand.
India's economy is underpinned by strong government policy.
India's financial sector is stable and sound.
India's financial markets are developing and vibrant.
India's financial market is open and growing.
India's financial market is supported by a sound legal and policy environment.
India's foreign exchange market is stable and growing.
India's foreign exchange market is open and growing.
India's foreign exchange market is supported by a sound legal and policy environment.
India's economic outlook is positive and stable.
India's economy is expected to continue to grow at a strong and constant rate.
India's economy is supported by strong domestic demand.
India's economy is supported by strong international demand.
India's economy is underpinned by strong government policy.
Congress Party President Mallikarjun Kharge addressed the party's underwhelming performance in the recent assembly elections, citing a lack of unity among party leaders and internal conflicts as major contributing factors. He stressed the need for the party to remain united and disciplined in order to defeat political opponents. Kharge also highlighted the importance of strengthening the party's organization at the grassroots level and raised concerns about the role of the Election Commission in ensuring free and fair elections.
Maharashtra's caretaker Chief Minister Eknath Shinde has reportedly demanded the Chief Minister's post during his meeting with Union Home Minister Amit Shah regarding the formation of a new government. He has also put forth three key demands, including the support from women voters, Marathas, and OBC communities, for the success of the Mahayuti alliance in the state assembly election. In case the BJP doesn't agree to Shinde's demands, Shiv Sena with its 57 MLAs is ready to offer outside support to a BJP-NCP government.
Prime Minister Narendra Modi will be interacting with selected youths who have found internships through the PM Internship Scheme announced in the full budget this July. The scheme aims to provide opportunities for young individuals from low-income households to work in top companies with a stipend of Rs 5,000. However, the portal has been facing technical glitches and the eligibility criteria may need to be relaxed for more applicants to be able to apply.
The Supreme Court has rescheduled the hearing of the Krishna Janmabhoomi-Shahi Idgah dispute to December 9 due to lack of time. The main issue is whether an intra-court appeal against rejection of a petition under Order 7 Rule 11 CPC is maintainable before the Allahabad High Court. Apart from this, three special leave petitions have been filed by the Shahi Idgah Masjid and Sunni Central Waqf Board challenging previous court orders related to the dispute. The dispute pertains to the removal of 18 suits filed by the deity and Hindu worshippers for the removal of Shahi Idgah mosque, with the mosque committee arguing that the suits are barred by the Places of Worship Act.
After suffering losses in recent state elections, Congress party chief Mallikarjun Kharge addressed the party's leaders and stressed the importance of taking responsibility, fixing shortcomings, and unity within the party. He also expressed concern over the use of electronic voting machines and called on the Election Commission to ensure fair elections in the country. Kharge emphasized the need for discipline and unity within the party to defeat political opponents. He also urged party leaders to work hard and strengthen the party's organization at all levels, from voter registration to vote counting.
Prime Minister Narendra Modi, in a recent speech in Bhubaneswar, connected with the people by speaking in Odia and acknowledging their faith in the BJP. He also highlighted the Central government's focus on Odisha's development and the introduction of new schemes. With his visit to Odisha Parva in New Delhi, PM Modi has shown his appreciation for Odia culture and its people.
Indian Prime Minister Narendra Modi is set to visit Bhubaneswar today for the three-day-long DG/IGP conference. He will be greeted with a warm welcome and a felicitation program before heading to the Governor's house. During his visit, PM Modi will hold meetings with party officials and discuss development plans for Odisha.
After facing criticism from the Delhi High Court, the Aam Aadmi Party (AAP) government appears to be reconsidering their refusal to implement the Ayushman Bharat insurance scheme initiated by Prime Minister Narendra Modi. This comes after BJP MPs filed a plea in the court seeking implementation of the scheme in Delhi, while other states have already adopted it. The scheme, which was recently expanded to cover all individuals over 70, has been hailed as a crucial step towards providing universal healthcare, but political reasons have caused delay in its adoption in Delhi and West Bengal.
The Supreme Court has directed the petitioners to approach the High Court over the dispute surrounding the survey of the Shahi Jama Masjid in Sambhal. The court has also asked the trial court to refrain from taking any action until the case is heard and has urged the district administration to maintain peace in the area. This plea was moved by the management committee of the mosque, which is embroiled in a dispute with Hindus over a temple allegedly destroyed to build the mosque. The Supreme Court is currently hearing multiple petitions related to disputes over religious places in India.
In a major development in the ongoing investigation into the production and distribution of pornography through apps, the Enforcement Directorate (ED) has raided businessman Raj Kundra's house and offices. The husband of actress Shilpa Shetty has been accused of laundering proceeds from the streaming of the porn contents. Additionally, he is also under scrutiny for his alleged involvement in a bitcoin scam, for which the ED has attached his properties worth Rs. 97.79 crore, including a flat in Mumbai's Juhu and a residential bungalow in Pune.