Thursday 28 March 2013
Wednesday 27 March 2013
Deepti
I've been pretty upset the last few days over something that the print media has been distorting hugely . . . each one of you on Facebook has been totally silent about it - no comment whatsoever - and I appreciate that - and since I know you people care, I'd like to, to explain what has really happened -
Just before the release of 'Listen Amaya' me and Farooque Shaikh were doing an interview for Rajiv Masand in my Versova terrace flat. I had been keeping unwell those days and had requested Rajiv's camera team to come over to my house instead of me having to go to his studio. Rajiv came over with his three camera setup and we were in the middle of this interview, when three members from the Society barged into the flat and demanded that we stop 'this activity' - they thought we were making a movie - I explained to them that they can sit here and watch - we are not making a movie, we are doing an interview - but they threatened to call the police on me. Rajiv, Farooq, my director Avinash Singh and his wife Geeta were all very embarrassed hearing this sort of conversation. We tried to wind up fast. Then one neighbor Mr Rajan Khurana was sent up to convey to me that the Society has threatened to call the police if we don't stop 'this activity' right away. I explained again, but to no avail. After that I got a call from the Secy of the Society who was very irked and repeated that 'We'll have to call the police on you'. We cancelled all other interviews after that.
I was hugely embarrassed; I apologized to my colleagues and they quietly left.
I felt so humiliated and felt my rights as a resident were violated. I decided to pack my stuff from the Oceanic residence and come and stay at my Madh Island house.
I am an artist and have always given interviews in my own home - artists do that all the time - there is nothing illegal about it - it is their right.
Never mind, now this is what follows the incident.
A week / eight days ago a journalist friend asked me what I was doing sitting in Madh - and I gave vent to my frustration. I told him over the phone that -
'The Society treated me so badly and kept threatening me with "WE'LL CALL THE POLICE, WE'LL CALL THE POLICE", as if I'm running a RACKET here!'
Next day it was out in print - in Mumbai Mirror - the sensational headline -
'I'M NOT RUNNING A PROSTITUTION RACKET" - and the story about the society fiasco, stating how badly me and Farooq Shaikh were insulted by the members of my building.Except for the scandalous headline, nothing wrong with the contents of the article. It was in my favour - But this is what follows . . .
Other papers have picked up the SENSATIONAL HEADLINE and implied that the Society has ACCUSED me of running a prostitution racket. I've been appalled! I will post those articles so you all can see how the press distorts everything to make eye-catching news! One of the tabloids has said -
DEEPTI NAVAL OUSTED OUT OF HER 'PROSTITUTION DEN'
A dear friend, shell shocked at reading the contents in a Calcutta tabloid, called me frantically - 'What is all this? Who has been accusing you of running a racket?'
I explained to her that no one is ACCUSING me of running anything like that - it is the PRESS that is IMPLYING . . .
Of course I've been back at Oceanic in the last days and have conducted my meeting there as well - I'm a little confused - should I take action against the print media or should I let it go. If I let this go, then there are people who've said -
'KUCH TO HOGA NA . . . AISE HIS TO NAHIN SOCIETY ITNA OBJECT KAR RAHI' - Imagine?
Friends from the industry feel, 'Let the dogs bark . . . you move on!'
I was sitting there at my terrace flat yesterday evening - after Farooque and I had spent a whole day going to various radio stations giving fresh round of interviews before the re-release of the old Chashmebaddoore on April 5th - and I was looking around at my beautiful spacious home where I sit and dream, do all my writing work, invite friends, spend quality time with myself - and I was in tears . . . this sanctuary of mine to be called a 'PROSTITUTION DEN' -
In my heart, I apologized to my father who is no more in this world, and quietly prayed -
'I'm sorry, Piti, see what all this has catapulted into? Please help me learn to ignore it and move on - but I will not disappoint you - I will fight for my right!'
Thank you for bearing with me - I can't go around explaining to the whole world, but I can, to a few of you who I know, care . . .
Deepti https://www.facebook.com/permalink.php?story_fbid=461794613892160&id=138020672936224
I liked the answer of this German Muslim scholar when he was asked about terrorism and Islam :
I liked the answer of this German Muslim scholar when he was asked about terrorism and Islam :
He said :
Who started the first world war? not Muslims ?
Who started the second world war ? not Muslims ?
Who killed about 20 millions of Aborigines in Australia ? not Muslims ??
Who sent the nuclear bombs of Hiroshima and Nagasaki ? not Muslims ??
killed more than 100 millions of Indians in North America ? not Muslims ??
Who killed more than 50 millions of Indians in south America ? not Muslims ??
Who took about 180 millions of African people as slaves and 88% of them died and were thrown in Atlantic ocean ? not Muslims ??
No , NOT Muslims!!!
First of all, You have to define terrorism properly...
If a non-Muslim does something bad..it is crime. But if a Muslim commits the same..he is a terrorist...
So first remove this double standard...then come to the point!!! , . . . .
NIFTY OUTLOOK FOR 28/03/2013
BULLS ARE BREATHING AT 200DMA,
NOW AT 5620. SO 5600 SEEMS LAST
HOPE FOR BULLS.
MORE BEARS ARE WAITING BELOW 5600.
AND ALSO AT 5688-5733 LEVEL.
SO ALL THE CLOSES BELOW 5733 TELLS
US BEARS CONTROL NIFTY.
GLOBAL TRENDS GETTING VOLATILE.
US MARKETS TRADING AT NEW HIGHS.
BUT THE MOMENTUM GETTING SLOW AND
TELLS US GOOD CORRECTION ON THE WAY.
NIFTY BULLS BREATHING AT 200DMA.
THE NEXT AND BIG SUPPORT IS AT 5600.
BELOW 5600 NIFTY WILL SLIP IN TO THE
BEARISH ZONE.
BULLS CAN TERMINATE THIS BEARISH CLOUD
BY A CLOSE ABOVE 5688 AND START NEXT
UP MOVE AFTER A CLOSE ABOVE 5777.
BUY NIFTY-FUT ABOVE 5644 TARGET 5688/5733 STOPLOSS 5622
SELL NIFTY-FUT BELOW 5622 TARGET 5600/5577 STOPLOSS 5644
BUY NIFTY-FUT ABOVE 5644 TARGET 5688/5733 STOPLOSS 5622
SELL NIFTY-FUT BELOW 5622 TARGET 5600/5577 STOPLOSS 5644
A
Sunday 24 March 2013
What Common Advice Should You Never Follow?
Follow Your Heart
When someone gives you a cheap piece of overused advice, take it with a grain of salt. Most of the time, these cliché phrases do more harm than good, and anyone who recites them to you is probably not a licensed therapist and has no business giving advice in the first place. In fact, they're probably more screwed up than you are.
"Follow your heart." Are you aware of just how birdbrained this piece of advice really is? Your heart doesn't know diddly squat about your life! Your heart is all feelings and mushy mumbo jumbo nonsense. Your heart is in cahoots with your private parts, and together they're conspiring to destroy you. They're the last people -- er, organs -- you should follow down the dark alley of life and relationships.
Your brain is where it's at. Hit the power button on that thing and use it for once.
If the Shoe Fits, Wear It
Who even came up with this ridiculous phrase? The fact that a shoe fits isn't necessarily a good enough reason to wear it! Take Crocs, for example. No one should wear Crocs, ever, whether they fit perfectly or not. They're disgusting and they make you look foolish. People will laugh at you. Your friends and family will be ashamed to be seen in public with you and your hideous excuse for footwear.
If the shoe fits and it's fabulous, wear it! Otherwise, donate it to your local Goodwill before it's too late.
If You Love Someone, Set Them Free
If your perfect someone decides to leave, you probably did something really idiotic and deserve to be left behind with the rotting corpse of your love. But if you genuinely love him or her, don't just sit back on your lazy bum and let them go!
I'm not saying that you should tie them up and keep them in your basement with a basket of lotion. (If that's your situation, please set them free! And get help.) But if they're leaving because you screwed up, grow a pair and fix it! Here's what you need to do:
Apologize for being a tool
Stop being a tool
Make it right
Don't do it again
Then they won't want to leave. Problem solved.
Don't Take No for an Answer
So many people give this advice, whether it applies to business activities or dating, and it really needs to stop. When did people decide that no isn't a legitimate answer? It's a perfectly fine answer! "Do you like oatmeal?" No. No, I don't. "Are you sure? Maybe you should try it again!" For the hundredth time, no! Buzz off, you pest!
If someone says no, they mean it! They are not asking you to keep bothering them until they give in. They want you to leave them alone. They find you annoying and more than a little bit repulsive. Learn how to take a hint.
Actually, it's not even a hint. They're telling you exactly what you need to know. You don't have to be a genius with an IQ of 300 billion to understand this logic, my friend. No means no. Deal with it.
Don't Do Anything I Wouldn't Do
Folks who give this advice are never the type of person you'd want to take this advice from. These are the two extremes:
Seriously? Are you insane? There's literally nothing you wouldn't do! I could boil myself in a pot filled with toy dinosaurs and pour melted copper over my head and I still wouldn't be outside of your normal daily activities.
I have every intention of doing things you wouldn't do, because you wouldn't do anything. All you do is sit on the couch knitting and watching TV with the volume cranked up to deafening levels. Doing something you wouldn't do would be great for me!
Not everyone's the same. Not everyone lives by the same rules. Do whatever is right for you, and tell them to mind their own business for a change.
Nobody Will Love You Until You Love Yourself
This one is so completely false that it's almost hilarious that some people still buy into the lie. It's great to love yourself, don't get me wrong, and you should try your best to improve your self-esteem, but you don't have to be 100% enamored with your own reflection at all times in order to be loved. That's absurd.
Self-doubt is not some sort of automatic love repellent. Tons of people who are insecure, and some who even battle self-loathing every day, have found love. Their partner may even love them more for not being a conceited, self-obsessed creep like the guy pictured above. (I mean, right? Look at him! He looks like he's about to make out with his own mirror image. Gross.)
If someone really, truly loves you, they're going to love you no matter how you feel about yourself in that dress. It's called unconditional love. That's kind of the whole point.
Ignore Them and They Will Go Away
How many times have well-meaning adults given this advice to bullied children since the dawn of time? It's cute that you're trying to help, guys, but it's not good advice.
Ignoring someone doesn't make them go away. Bullies don't have lives of their own! They don't have somewhere to be. They have all the time in the world to stick it out and make you miserable.
Besides, no one likes to be ignored. They want attention. You're practically begging the jerks to be more obnoxious. Is that really what you want?
Keep Your Friends Close and Your Enemies Closer
I beg to differ. That advice is poppycock. Put as much distance between yourself and your enemies as possible.
Having crappy excuses for human beings around you is exhausting and toxic. Let's go back and modify one of the earlier clichés, shall we? If you hate someone, set them free.
That's much more practical advice.
You'll Find Them When You Stop Looking
Allow me to get real with you guys for a second: If you never leave your parents' basement and go outside, and if you never do anything to interact or connect with other human beings, you will never find "them."
The man or woman of your dreams is not going to accidentally crash his or her car into your house. They're not going to materialize next to you like they're being beamed up by Scotty. You're going to have to put a little effort into it, even if that just means stepping outside the front door.
You heard it here first.
If You Think Positive, Positive Things Will Happen
This one refers to that "self-fulfilling prophecy" that so many people talk about, but few seem to really logically comprehend: If you think bad things will happen, they will! If you think good things will happen, by gum, your life will be filled with butterflies and rainbows in no time!
False. If a bad thing is going to happen, it'll happen regardless of your "positive thinking." Thinking really hard about not getting cancer is not an effective preventative measure. We don't live in some sort of magical realm where your thoughts can cause things to happen or not happen in real life. Relax. Having negative thoughts from time to time isn't a crime, and it won't lead you directly into a life of despair and loneliness.
Don't pay any attention to people who spout ridiculous clichés and act like condescending dweebs. You're too smart for that!
Maulana Rabey re-elected AIMPLB president for 5th consecutive time
Ujjain: As speculated, noted Muslim cleric of national and international repute Maulana Syed Mohammad Rabey Hasani Nadwi has been unanimously re-elected president of the All India Muslim Personal Law Board, (AIMPLB), an apex body of Muslims, for the fifth time on Saturday in its 23rd annual conference which is being held here in Jamia Arabia Siraj-ul-Uloom at the outskirts of historical town Ujjain in Madhya Pradesh.
Maulana Rabey, rector of the Nadwatul Ulema, a famous Islamic university in Uttar Pradesh capital Lucknow, will head the AIMPLB, which was formed four decades ago to protect the “Shariah” or the Islamic laws. This will be his fifth consecutive term. He was first elected in April 2002 following the death of Qazi Mujahid-ul-Islam Qasmi in Hyderabad.
Maulana Rabey later picked his team for the fifth term wherein he nominated his old panel which included Maulana Syed Nizamuddin as general secretary of AIMPLB, Advocate Abdurrahim Qureshi as assistant general secretary, Maulana Syed Wali Rahmani as secretary and other office-bearers of the outgoing team.
A 40-member executive body was unanimously elected wherein all the members who had completed their three year term were re-elected. A few new members of the executive committee were elected in place of those who had passed away in last three years. The highlight of the executive Committee election was that for the first time representation from Madhya Pradesh was given when Congress leader Arif Masood of Bhopal was elected.
Later, Maulana Rabey will nominate 10 members to the Executive Committee of AIMPLB to make it 50-member body. There was no contest for any post and also for the executive body.
Meanwhile, eight members which included Maulana Abul Qasim of Islamic seminary at Deoband, P. Rafeeq Ahmad of Chennai, Habeeb Bandvi (UP) etc. were elected unanimously among the 102 Asasi Arakeen (founder members) category in place of those who have left for their heavenly abode. Vacancies arise due to resignation or death of any founder member.
Six members were elected to the Meeqati (periodical member for 3 years) category. They are: Maulana Saeed-ur-Rahman Azmi Nadwi, Principal Nadwatul Ulema; Peerzadah Sheikh (Andhra Pradesh); Mateen Qadri (Hyderabad) Zaheer Qazi (Maharashtra); Hafiz Qari Mohammad Taqui (Ujjain, MP); Prof. Haleem Khan (Indore, MP).
It may be recalled here that Qazi Mujahidul Islam Qasmi’s death had created a void leading to speculation that there would be a contest for the board’s top post. But the then 201 member general council elected Maulana Rabey without contest on the second day of the 16th session of the board in Hyderabad. Maulana Rabey is the fourth president of the board, which represents Islamic scholars of all schools of thought and prominent Muslim leaders. The board has had only three presidents so far. Qari Muhammad Tayyab Qasmi was the first president. Islamic scholar Maulana Syed Abul Hasan Ali Nadvi succeeded him in the late 1980s and continued in the post till his death on December 31, 1999. Thereafter, Qazi Mujahid-ul-Islam Qasmi was unanimously elected AIMPLB president till his death.
It may be mentioned here that Maulana Syed Mohammad Rabey Hasani Nadwi was born on October 1, 1929 at Takia Kalan, Raebareli in the family of Syed Rasheed Ahmad Hasani and Ummatul Azeez. Mohtarmah Ummatul Azeez was sister of Maulana Syed Abul Ahasan Ali Nadvi alias Ali Mian Nadvi. He completed his primary education from his family maktab at Raebareli, passed Fazilat from Darul Uloom Nadwatul Ulema, Lucknow in 1958. He spend year 1957 at Darul Uloom, Deoband for one year and the year 1950-51 in Hijaz in for education and Dawah.
Maulana Rabey is nephew of former AIMPLB President Hazrat Maulana Syed Abul Hasan Ali Nadwi @ Ali Mian (Rahamatullah Aley). He was appointed as assistant teacher at Darul Uloom Nadwatul Ulema after completing studies in 1949. He remained at Hijaz (K.S.A.) I from 1950-1951 for further studies and research. In 1952 he was appointed Assistant Professor at Darul Uloom Nadwatul Ulema, Lucknow. He was appointed the Head of Arabic Department at Nadwa in 1955. He was appointed the Dean, Faculty of Arabic of Nadwa in 1970. He was conferred award by Indian Council Uttar Pradesh for his contribution in the field of Arabic language. He was also conferred Presidential Award for his contribution in the field of Arabic language in the same year. In 1993 he was appointed Muhtamim (Vice Chancellor) of Darul Uloom Nadwatul Ulema. In 1999 he was appointed Naib Nazim (Chancellor) of the Nadwa and in 2000, after death of Hazrat Maulana Syed Abul Hasan Ali Nadwi (Rahamatullah Aley); he was elected as Nazim (Rector) of Nadwa.
He has travelled to Japan, Morocco, Malaysia, Egypt, Tunisia, Algeria, Uzbekistan, Turkey, South Africa and many other Arab, European and African countries. He has published 15 books in Arabic and 12 books in Urdu besides having many unpublished works. He is acclaimed for his scholarship.
Maulana Rabey is also Vice President of the Aalami Rabita Adab-e-Islami, Riyadh (K.S.A.); President, Majlis-e-Tehqiqat-o-Nashariyat Islam, Lucknow; President, Majlis-e-Sahafat-o-Nashariyat, Darul Uloom Nadwatul Ulema, Lucknow; President, Deeni Taleemi Council, Uttar Pradesh; President, Dar-e-Arfat, Raebareli; Founder Member, Rabita Aalam-e-Islami, Makka Mukarrmah; Member, Darul Musannffin, Azamgarh; Trustee, Oxford Centre of Islamic Studies, Oxford University, UK; Patron, Payam-e-Insaniyat and Patron, Islamic Fiqh Academy (India).
By Pervez Bari, TwoCircles.net,
In this twenty-first century our INDIA is a well-recognized country.
https://www.facebook.com/wwwjameel
Saturday 23 March 2013
Muslims urged to remain vigilant to challenges of interference in Shariah laws
By Pervez Bari, Twocircles.net,
Ujjain: Maulana Syed Mohammad Rabey Hasani Nadvi, president of All India Muslim Personal Board (AIMPLB), addressing the 23rd conference of AIMPLB called upon Muslims to remain united and vigilant to face the challenges posed by lower courts in interfering into Islamic Shariah laws which have been guaranteed in secular India’s Constitution.
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Delivering presidential address here on Friday night Maulana Rabey said in Islam the importance of "Deen" (religion) is topmost priority for Muslims for which he can remain hungry but never allow intrusion into its Sharia laws. The India Constitution has granted him the freedom of following his personal laws without any hindrance, he added.
He exhorted Muslim Ummah to follow the teachings of Islam and principles and rules of Shariah in all aspects of life, particularly in family matters, in letter and spirit so as not give any chance to the adversaries of Islam to criticize it. This would be the first step in protecting the Islamic Shariah and make the task of AIMPLB easy, he opined.
Removing misconceptions in the minds of the non-Muslim brethren about the Shariah and Islam is also an objective of the Board and it has taken several steps in this direction to set right the wrongly perceived notions", he said.
Muslims should keep a constant eye on the situation and the developments that take place therein so that the community is always able to avail its religious freedom as guaranteed by the Indian constitution and there is no curb on it. This is necessary because they are in the minority and their identity as a Muslim is maintained unscathed. There is a possibility that the bogey of Uniform Civil Code which occurred in some people’s minds can crop up again while it is well known that the Indian Constitution has given country’s every religion the right to practice it according to their established norms and run their institutions, he cautioned.
Maulana Rabey said that there is need to keep this freedom of religious rights intact as there is a likelihood that it may be tampered with or the situation may be created for the government of the day to take it under its control. Recently many Acts have been passed wherein certain provisions of these Acts are found to be harmful to the religious freedom of minorities and the AIMPLB is doing all its best to rectify them. It seems that the government, through different Acts and bills, was trying to interfere in Muslim laws, he added.
AIMPLB office-bearers Maulana Syed Nizamuddin, Maulana Wali Rahmani, Maulana Khalid Saifullah Maulana along with Syed Jalaluddin Umari and others also spoke on the occasion.
Earlier, Maulana Hafiz Qari Mohammad Taqui, president of the Reception Committee of 23rd conference of AIMPLB, while delivering his welcome address recalled the rich heritage of Muslim clerics who visited Ujjain in the past and their Dawah work among the people of the area.
At the outset Qari Abdus Salam recited verses from the Holy Qur’an. In the beginning obituary references to number of AIMPLB members including Sulaiman Sikandar of Hyderabad, Dr. Abdul Huq Ansari of Jamaat-e-Islami, Maulana Syed Hasani Nadvi, Maulana Abdullah Hasani Nadvi and their kin who passed away in last one year since the last Board’s convention held in April 2012 at Mumbai.
Friday 22 March 2013
Drinking Water Facility for Villages
World Water Day is observed on 22 March.
Five crore people living in over one lakh habitations in villages in our country do not have access to safe drinking water even today. According to official figures twenty two per cent rural families have to walk for at least half a kilometer or more to fetch water (mostly it is the women who have to bear the burden). The percentage of such families is the maximum in Manipur, Tripura, Odisha, Meghalaya, Jharkhand and Madhya Pradesh. Fifteen per cent of households in villages depend on uncovered wells and other unimproved sources like rivers, springs, ponds for drinking water. Also eighty five per cent of all drinking water resources in villages are based on underground sources of water and in many of these areas water is contaminated. Only 30.80 percent of the rural population has access to tap water. In fact there are only four states which have been able to bring fifty per cent or more of the rural areas under piped water supply. Many of the states are yet to fully comply with the Supreme Court order on supply of potable water in government schools. The latest available data shows that less than the 44 per cent government schools in villages have drinking water facility.During the national consultation in Delhi held recently on the progress of national rural drinking water programmers and related issues , it was revealed that in spite of this unsatisfactory scenario with regard potable water availability in villages many of the states have failed to fully utilize the funds allocated by the centre under the various heads of NRDWP.
To achieve the objective of providing drinking water facilities to all the villages, the Government is bringing about a major paradigm shift in the National Rural Drinking Water Programme in the XIIth Five Year plan period. In the backdrop of over extraction of ground water in most parts of the country, the emphasis is to shift away from ground water to surface water. The focus would be on piped water supply and minimizing the use of hand pumps. The target is to ensure individual household connections to at least 35 per cent of the population in villages by 2017 against only 13 per cent today.
In order to encourage the villagers to take water connections, the Government is roping in Accredited Social Health Activists (ASHA). A recent order said the ASHAs will get an incentive of 75 rupees for motivating each of the families in villages to take individual household tap connection. The states can use the money from the support funds allocated to states under the NRDWP.
The norm of 40 litres of water per capita per day( LPCD) in villages was set way back in 1972 but now under the 12th five year plan , it is being increased from 40 to 55 litres .In the 12th plan the target is to cover at least half of the population to get 55 LPCD water within in their house hold premises or within 100 meter radius. Once the states are able to increase the per capita availability of drinking water, it will help in bridging the gap to some extent between urban areas and rural areas. Under NRDWP, States have the flexibility to fix their own supply norms. The Drinking Water and Sanitation Minister Bharatsinh Solanki has urged the states to aim at 55 LPCD , this he says will enable higher level of household connections and reduce the burden on women and girls in fetching water from hand pumps and public taps as well as reducing risk of contamination.
Quality of drinking water availability is a major concern in villages many parts of the country are affected by contamination of arsenic and fluoride, which are considered the most hazardous in terms of their effect on health. In the budget proposals for 2013-14 Rs 1,400 crore will be provided for the setting-up water purification plants as there are still 2,000 arsenic and 12,000 fluoride affected rural habitations in the country. Then there are contaminants like iron, salinity uranium and pesticides. The centre is assisting States affected with Chemical contamination of drinking water, and those States which have cases of Japanese and Acute Encephalitis Syndrome through a provision under the NRDWP by allocating 5% of the NRDWP funds for Improving the quality of drinking water
Given the growing importance of water quality issues, under the 12th plan dedicated funding will be provided to States with quality affected habitations, over and above the normal NRDWP allocation to the State. Highest priority will be given to arsenic and fluoride affected habitations. Part of the funding would also be made available to tackle bacteriological contamination in the priority districts with high incidence of Japanese and Acute Encephalitis Syndrome as identified by the Ministry of Health and Family Welfare
Unfortunately many of the states like Chhattisgarh, Gujarat, Haryana, Jammu & Kashmir, Jharkhand, Kerala, and Uttarakhand & Tripura are yet to submit proposals to get the benefit from 5% Water Quality earmarked fund.
World over lack of drinking water and sanitation facilities account for over nine per cent of the diseases and more than six per cent of deaths. In our country where more than half the population resorts to open defecation, the situation is worse.
It is in this scenario that major emphasis in the 12th plan is strengthening convergence between rural drinking water supply and rural sanitation by taking up villages covered with piped water supply to get Open Defecation Free status priority and vice versa.
The 12th plan draft document says that all government schools and anganwadis in government or community buildings will be provided with water supply for drinking and for toilets as per relevant quality norms by convergence of NRDWP for existing schools and Sarva Shiksha Abhiyan and for new schools set up under SSA. For private schools this will be enforced the right to education provisions. All community toilets built with public funds and maintained for public use will be provided with running water supply under NRDWP. Care will be taken to ensure that minimum distance is maintained between the toilet systems and water sources, to alleviate the problem of nitrate contamination.
A part of NRDWP outlay will be set aside for integrated Habitat Improvement Projects to provide housing, water and sanitation facilities in rural areas at par with urban areas.
Participation of the beneficiaries especially women in drink water supply schemes is also proposed.
In another initiative Solar powered pumps will be provided for implementation in remote, small habitations and those with irregular power supply by converging subsidy available under Ministry of New and Renewable Energy.
Waste water treatment and recycling will also be an integral part of every water supply plan or project.
India is fast becoming a water stressed country and over and above everything else there is need to generate awareness about protecting drinking water sources from contamination, regular testing of drinking water sources, conserving rainwater in tanks and ponds, water recharge and water saving devices so that everyone in the country is able to get the basic facility of drinking water.
Measures to Check Cheating of investors by Unscrupulous Companies
K. K. Pant
Deputy Director (Media & Communication), PIB.
Cheating of investors by unscrupulous companies takes many forms, such as: ‘vanishing’ after raising money through public offers; illegal collection of deposits in violation of Section 58A of the Companies Act, 1956; floating sham ‘Collective Investment Schemes (CIS)’ in violation of SEBI Act; collecting money from public by posing as ‘Non-Banking Financial Companies (NBFCs) in violation of RBI Act; and resorting to ‘Ponzy’ or money circulation schemes under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978.
The Ministry of Corporate Affairs has taken action against ‘vanishing companies’ which have raised funds through initial public offer but thereafter are not traceable. The Ministry has also taken action against certain companies which have failed to repay deposits to public violating Section 58A of the Companies Act, 1956.
Complaints of cheating by companies - which promised high rates of interests to investors, have been received against 87 companies. In these cases Inspection under Section 209A/ Investigation under Section 234 of the Companies Act, 1956 has been ordered. Securities and Exchange Board of India (SEBI) also looked into the affairs of 669 companies whose operations were in violation of SEBI (Collective Investment Schemes) Regulations, 1999. The amount collected by these companies was about Rs 7,435 crore. Out of these companies, 75 have been wound up and the money refunded to the investors. A total of 552 companies were prosecuted; convictions have been secured in 124 cases.
RBI also regulates deposits / investments of the public with Non- banking Finance Companies (NBFC) that are registered with RBI. Complaints received against companies posing as NBFC’s and Unincorporated bodies indulging in cheating / fraud are forwarded by RBI to the Economic Offenses Wing of the State Police for investigation and further action.
There are certain companies which have floated fraudulent investment deposits mobilizing schemes (also called ponzi schemes) under various guises and are liable for action under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. This Act is administered by Ministry of Finance (Department of Financial Services) through the State Governments.
The Ministry of Corporate Affairs has constituted a Steering Committee to develop a “Fraud Prediction Model” aimed at generating alerts for prevention of fraud and malfeasance. It is also proposed to revamp the existing Market Research & Analysis Unit (MRAU) in the Serious Fraud Investigation Office (SFIO) to enable it to function as an intelligence unit. Giving a fillip to the early establishment of a state-of-art Forensic Lab within the premises of SFIO in the national capital; and the development of a Comprehensive Early Warning System (EWS) for detection of corporate fraud and malfeasance at the earliest, three important MoUs have been signed by the Ministry of Corporate Affairs.
These MoUs are:
Between Director, SFIO ( which functions under the Ministry of Corporate Affairs) and Director, National Institute of Electronics and Information Technology (NIELIT), a scientific organization under the Ministry of Communications and Information Technology;
Between Joint Secretary, Ministry of Corporate Affairs and Director, Financial Intelligence Unit (FIU-IND), an agency under the Ministry of Finance; and
Director, SFIO and Director, FIU-IND.
As per the Memorandum, NIELIT will set up a state-of-art Forensic Lab within the premises of SFIO - with a total outlay of Rs. 3.80 Crore on a turnkey basis, to be completed in two phases. The MoUs signed with FIU-IND will lead to better and faster exchange of information between the three Government entities. FIU has been playing a pivotal role in the collection and dissemination of information on suspicious banking transactions under the Prevention of Money Laundering Act, 2002. FIU-IND has been helping both the Ministry and SFIO from time to time by supplying information on suspicious banking transactions. Having access to banking information as well as expertise of FIU, the MoU will help SFIO in conducting its investigation in a more effective manner. These initiatives will facilitate development of a comprehensive EWS for detection of fraud and malfeasance at the earliest.
The concerned regulatory agencies of the Central Government have adopted different measures aimed at sensitizing the public of the need to be cautious while making investments into schemes, etc. The Ministry of Corporate Affairs conducts Investor Awareness Programs (IAP’s) for making the public aware of the various instruments of investments available to them. Similarly, RBI issues notice in newspapers regularly to caution the public against the design of entities in collection of deposits illegally. Editors of Newspapers are also sensitized to exercise caution for accepting advertisements pertaining to acceptance of deposits by un-incorporated bodies. Presently, RBI is in the process of undertaking a comprehensive campaign aimed at alerting the public against falling prey to the Ponzy schemes and other monetary mal-practices. SEBI also conducts Investor Awareness Programs in cities / towns across the country and has recently launched publicity campaigns through electronic and print media.
Monday 18 March 2013
Weak market breadth
Weakness persisted on the bourses in mid-morning trade on weak Asian stocks. The market breadth was weak. The S&P BSE Sensex was down 148.95 points or 0.77%, off 39.27 points from the day`s high and up 46.38 points from the day`s low. Index heavyweight Reliance Industries (RIL) trimmed losses in volatile trade. Another index heavyweight and cigarette major ITC was marginally lower. Realty stocks edged lower. Sugar shares rose on reports that the Union Cabinet is likely to meet today, 18 March 2013, to consider partial decontrol of the sugar sector.
Key benchmark indices edged lower in early trade on weak Asian stocks. Key benchmark indices cut losses in morning trade. Weakness persisted on the bourses in mid-morning trade.
Asian stocks dropped on Monday to details of a bailout of Cyprus over the weekend as investors fretted about the potential implications of a decision to levy private bank deposits.
At 11:15 IST, the S&P BSE Sensex was down 148.95 points or 0.77% to 19,278.61. The index lost 195.33 points at the day`s low of 19,232.23 in morning trade, its lowest level since 14 March 2013. The index fell 109.68 points at the day`s low of 19,317.88 in morning trade.
The CNX Nifty was down 42.60 points or 0.73% to 5,830. The index hit a low of 5,814.35 in intraday trade, its lowest level since 14 March 2013. The index hit a high of 5,842.45 in intraday trade.
The market breadth, indicating the overall health of the market, was weak. On BSE, 1,414 shares declined and 810 shares rose. A total of 106 shares were unchanged.
The BSE Mid-Cap shed 0.47% and the BSE Small-Cap index declined 0.63%. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 496 crore by 11:20 IST compared to Rs 317 crore by 10:20 IST
Among the 30-share Sensex pack, 26 stocks declined while rest of them gained.
Index heavyweight Reliance Industries (RIL) declined 0.33% at Rs 841. The scrip hit high of Rs 843.25 and a low of Rs 833.05 so far during the day. The telecom department earlier this month cleared a proposal to allow companies with Internet permits to also offer basic mobile telecom services by paying a one-time license-conversion fee. RIL`s telecom unit, Reliance Jio Infocomm, has frequencies to provide broadband Internet across India. Under the new rule, RIL will have to pay about Rs 1658 crore to also provide voice services.
The Finance Minister said in his speech while presenting the Union Budget 2013-14 on 28 February 2013 that the oil and gas exploration policy will be reviewed to move from profit sharing to revenue sharing contracts. The natural gas pricing policy will be reviewed and uncertainties regarding pricing will be removed. NELP blocks that were awarded but are stalled will be cleared. A policy to encourage exploration and production of shale gas will be announced.
Wednesday 13 March 2013
Market Watch 13313
1100am
The major Indian equity benchmarks started the day on a weak note as Asian markets were trading mixed, with Hong Kong and Japan markets succumbing to profit booking after the recent rally. After opening , the benchmarks slid further down. They are expected to trade in a narrow band as investors will refrain from taking aggressive positions ahead of the Reserve Bank of India's mid-quarter policy review scheduled next week. This led the Sensex to trade near the level of 19450.89 i.e. down by 114.03 points & the Nifty to trade near the level of 5878.05 i.e. down by 36.05 points. The Midcap index and the small cap index are trading in red with the loss of half a percentage point each.. On the sectoral front, except two, all the indices are trading in red. FMCG Index is trading as the major gainer with gains of four-tenth of a percentage point. On the other hand, Consumer Durables Index is the biggest looser with the loss of one and one-tenth of a percentage point. This is followed by Auto Index which is trading with the loss of nearly one percentage point.
Further, the market breadth is negatively placed as one stock was seen advancing against two declining stocks
Sunday 10 March 2013
9 Tips to Prepare for Final Exams
Tip 1: Start early
Preparation for exams should begin earlier than the day before the test. You can’t cram an entire unit of information into an all-nighter. Get started at least a week before the exam.
Tip 2: Organize
Begin by making yourself a calendar outlining a daily schedule of topics for review. Cover a small amount of material for each class each day. Every time you complete a topic, give yourself a mini review.
Tip 3: Outline
Once you have decided what you need to study and how much time you need to spend studying, it is time to actually study. One of the best ways is to make succinct outlines. As you read over your textbook and class notes, write a brief summary for each topic. Highlight the areas in your outline that were most troublesome. When you have finished with all the material, you will have an outline you can review.
Tip 4: Make flashcards
Similar to outlining, making flashcards is a really helpful technique for studying. By writing down the information from your outline, you are already doing half the studying. Once the flashcards are complete, you will have a portable study packet to look over.
Tip 5: Get help
If you are having trouble memorizing something or a particular concept is just not sinking in, get help before it’s too late. Ask your teacher to go over a glitch you might be having. Or if memorizing 200 vocabulary words seems like too much to do, recruit your family members to quiz you with index cards.
Tip 6: Sleep
You need at least seven hours of sleep a night to function. Tests are designed to make you think. If you are sleep-deprived, you won’t be able to remember any of the information you worked so hard to cram into your brain.
Tip 7:Stay calm
Do not panic at the exam! Even if at first glance the test is overwhelming, remember to breathe. If a question seems too hard, answer all the questions you know, then return to the ones you left blank. Remind yourself that you are prepared.
Tip 8: Don’t rush
You have spent at least two weeks studying, so what’s another couple of minutes? Work through the exam slowly and read all the questions before answering them. If you are done before the time is up, look over your answers.
Tip 9: Relax post-exam
Don’t let panic overwhelm you. Even if you think you bombed the exam, worrying will not change your score. It may, however, affect your mindset for your next final. Zone out the last test and stay focused on the next one. Odds are, you didn’t do as badly as you think.
Andhe khwabon ko usoolon ka tarazoo de de By Javed Akhthar
Andhe khwabon ko usoolon ka tarazoo de de
Mere Malik mujhe jazbaat pe qaboo de de
Main samandar bhi kisi ghair ke hathon se na loon
Ek qatra bhi samandar hai agar tu de de
Sab dukh dard simat jaen mere seene main
Baant de sab ko hansi, la mujhe aansoo de de
Bun k phoolon ke mehak mujhko jagane aae
Subh ki pehli kiran ko koi ghunghroo de de
Andhe khwabon ko usoolon ka tarazoo de de
Mere Malik mujhe jazbaat pe qaboo de de
Listen this in LataMangeshkar's Voice
Mere Malik mujhe jazbaat pe qaboo de de
Main samandar bhi kisi ghair ke hathon se na loon
Ek qatra bhi samandar hai agar tu de de
Sab dukh dard simat jaen mere seene main
Baant de sab ko hansi, la mujhe aansoo de de
Bun k phoolon ke mehak mujhko jagane aae
Subh ki pehli kiran ko koi ghunghroo de de
Andhe khwabon ko usoolon ka tarazoo de de
Mere Malik mujhe jazbaat pe qaboo de de
Listen this in LataMangeshkar's Voice
Friday 8 March 2013
On this day Lets Elevate Womenhood
It is a Sunnah of Our Beloved Prophet (Sall Allāhu 'Alaīyhi wa ālihi wa Sallam) to Elevate Women - with a SOLID Islamic and an Academic Education -She has the Right to learn Self Defense through a FEMALE teacher on the art of self defense and She has the Right to Keeping Fit and Healthy to safeguard her family and self -She has the right to express her views and discuss amicably with her Family -peers -friends and towards society in general.
As Regards to the Legal and Political Aspect of Women in Islam
(1) Equality before the Law: Both genders are entitled to equality before the law and courts of law - Justice is gender-less [see the Qur’an -Chapter 5: Verse 38 - Chapter 24: verse 2 - and 5:45] - Women do Possess an Independent Legal Entity in Financial and other matters.
(2) Participation in Social and Political Life: The general rule in social and political life is participation and collaboration of males and females in public affairs (see the Qur’an -Chapter 9: Verse 71).There is Sufficient Historical Evidence of Participation by Muslim Women in the choice of rulers - in public issues - in law-making - in administrative positions - in scholarship and teaching - and even in the battlefield - Such involvement in social and political affairs was conducted "Without the Participants Losing Sight of the Complementary Priorities of BOTH Genders and WITHOUT Violating Islamic Guidelines of Modesty and Virtue"
Thursday 7 March 2013
Six Things Which Weaken The Relationship :
Six Things Which Weaken The Relationship :
1) Misbehaving
2) Ignoring
3) Lying
4) Breaking Promises
5) Avoiding Contact
6) Doubting
&
Six Things Which Strengthen The Relationship :
1) Good Attitude
2) Helping
3) Trusting
4) Respecting
5) Entertaining
6) Forgiving Mistakes!
1) Misbehaving
2) Ignoring
3) Lying
4) Breaking Promises
5) Avoiding Contact
6) Doubting
&
Six Things Which Strengthen The Relationship :
1) Good Attitude
2) Helping
3) Trusting
4) Respecting
5) Entertaining
6) Forgiving Mistakes!
Rahul and his cup of poison
Rahul and his cup of poison
Editorial
March 7, 2013There was logic in the presumption that Rahul’s elevation was a precursor to his projection as the Congress’s prime ministerial candidate. Rahul surely would not have waited eight long years to accept a party post of such obvious significance if he meant to throw in the towel when the bigger opportunity came. All indications were to the effect that reluctant as he was, Rahul would eventually bite the bullet, if only out of a sense of duty towards his ‘inheritance’ — India’s largest political party. Indeed, Rahul’s emotional speech at the Congress’s Jaipur plenary was all about fulfilling a moral obligation: “My mother came to my room and cried because she understands power is poison,” he had said. An outsider watching all this might want to ask why the clan cannot once and for all sever the umbilical cord that links it to the Congress. For, as long as the family is in active politics it will find itself inescapably under pressure to lead the party. Rahul’s problem is that he wants to democratise a Congress brought up on dynasty. But his mere presence is enough to foster sycophancy. The Congress and its First Family should resolve this dilemma soon or find themselves left behind in the coming big battle.
Tuesday 5 March 2013
Download Quran by more than 100 Qarees
Click the Picture or on my name Below to Open the Link
Click the Picture or on my name Below
Please Do remember me in Dua-e- Qair
JAMEEL AAHMED
100 Advices from Qura'n
--------------- -------------
1.Do not mix the truth with falsehood (2:42)
2.Order righteousness to people only after
practicing it yourself(2:44)
3.Do not commit abuse on the earth (2:60)
4.Do not prevent people from mosques (2:114)
(2:114)
5.Do not follow anyone blindly (2:170)
6.Do not break the promise (2:177)
7.Do not engage in bribery (2:188)
8.Fight only with those who fight you (2:190)
9.Keep the etiquettes of war (2:191)
10.Protect orphans (2:220)
11.Do not have sexual intercourse during
menstrual period (2:222)
12.Breast feed your children for two complete
years (2:233)
13.Choose rulers by their merit (2:247)
14.No compulsion in religion (2:256)
15.Do not invalidate charity with reminders (2:264)
16.Help those in need by finding them (2:273)
17.Don’t consume interest (2:275)
18.Grant more time to repay if the debtor is in
hard time (2:280)
19.Write down the debt (2:282)
20.Keep the trust (2:283)
21.Do not spy and backbite (2:283)
22.Believe in all prophets (2:285)
23.Do not burden a person beyond his scope
(2:286)
24.Do not become divided (3:103)
25.Restrain Anger (3:134)
26.Do not be rude in speech (3:159)
27.Think deeply about the wonders and creation of
this universe (3:191)
28.Men and Women have equal rewards for their
deeds (3:195)
29.Wealth of the dead should be distributed among
his family members (4:7)
30.Women also have the right for inheritance (4:7)
31.Do not devour the property of orphans (4:10)
32.Do not marry those in your blood relation (4:23)
33.Do not consume one another’s wealth unjustly
(4:29)
34.Family should be lead by men (4:34)
35.Be good to others (4:36)
36.Do not be miserly (4:37)
37.Do not keep envy (4:54)
38.Judge with justice between people (4:58)
39.Do not kill each other (4:92)
40.Do not be an advocate for deceitful (4:105)
41.Standout firmly for justice (4:135)
42.Cooperate in righteousness (5:2)
43.Do not cooperate in sin and aggression (5:2)
44.Dead animals, blood, the flesh of swine are
prohibited (5:3)
45.Be just (5:8)
46.Punish for crimes in an exemplary way (5:38)
47.Strive against sinful and unlawful (5:63)
48.Avoid intoxicants and alcohol (5:90)
49.Do not gamble (5:90)
50.Do not insult others’ deities (6:108)
51.’Having majority’ is not a criterion of truth
(6:116)
52.Don’t reduce weight or measure to cheat
people (6:152)
53.Do not be arrogant (7:13)
54.Eat and Drink, But Be Not Excessive (7:31)
55.Wear good cloths during prayer times (7:31)
56.Forgive others for their mistakes (7:199)
57.Do not turn back in battle (8:15)
58.protect and help those who seek protection
(9:6)
59.Keep Purity (9:108)
60.Never give up hope of Allah’s Mercy (12:87)
61.Allah will forgive to those who have done wrong
out of ignorance (16:119)
62.Invitation to God should be with wisdom and
good instruction (16:125)
63.No one will bear others’ sins (17:15)
64.Be dutiful to parents (17:23)
65.Do not say a word of disrespect to parents
(17:23)
66.Do not spent money extravagantly (17:29)
67.Do not kill your children for fear of poverty
(17:31)
68.Do not approach unlawful sexual intercourse
(17:32)
69.Do not pursue that of which you have no
knowledge (17:36)
70.Speak to people mildly (20:44)
71.Keep aloof from what is vain (23:3)
72.Do not enter others’ house without seeking
permission (24:27)
73.Allah will provide security for those who believe
only in Allah (24:55)
74.Do not enter parents’ private room without
asking permission (24:58)
75.Walk on earth in humility (25:63)
76.Do not neglect your portion of this world
(28:77)
77.Invoke not any other god along with Allah
(28:88)
78.Do not engage in homosexuality (29:29)
79.Enjoin right, forbid wrong (31:17)
80.Do not walk in insolence through the earth
(31:18)
81.Lower your voice (31:19)
82.Women should not display their finery (33:33)
83.Allah forgives all sins (39:53)
84.Do not be despair of the mercy of Allah (39:53)
85.Repel evil by good (41:34)
86.Decide on affairs by consultation (42:38)
87.Try for settlement between people (49:9)
88.Do not ridicule others (49:11)
89.Avoid suspicion (49:12)
90.Do not spy or backbite (49:12)
91.Most noble of you is the most righteous (49:13)
92.Honor guests (51:26)
93.Spent wealth in charity (57:7)
94.No Monasticism in religion (57:27)
95.Those who have knowledge will be given a
higher degree by Allah (58:11)
96.Treat non-Muslims in a kind and fair manner
(60:8)
97.Save yourself from covetousness (64:16)
98.Seek forgiveness of Allah. He is Forgiving and
Merciful (73:20)
99.Do not repel one who asks (93:10)
100.Encourage feeding poor (107:3)
Plz Share ....
Surely, Allah Will Grant you The Reward For
Spreading Righteousness .. JazakAllah Khair
Qura'an sharif ki malumat. YAAD KARLO.
======================
-pura Qura'an sharif 23 saal me nazil huva.
-Qura'an sharif me total 30 "PAARE "he,
"SAJDA" 114 he,
"RUKUA" 514 he,
"AAYATE 6,666 he,
"NUKTE" 1,05,684
or "MANZILE" 7 he.
-Qura'an sharif me 114 surte he jisme "MAKKI" surte 88 or "MADNI" surte 26 he.
-Qura'an sharif me sab se pehli nazil honewali surah surah "alak " he or
sab se aakhir me nazil honewali surah surah "nasr" he.
-Qura'an sharif me "ALLAH" ka name 698 martaba or "RAHMAN" ka lafz 57 martaba or
"RAHIM" ka lafz 114 martaba aaya he.
-Qura'an sharif me 700 jagah "NAMAZ" padhne ki taakid ki gai he.or 150 jagah " khairat "
karne ki taakid ki gai he.
-Qura'an sharif me sab se badi surah " SURAH BAKARAH " he or sab se choti surah " SURAH KAVSHAR " he.
or sab se badi v buzurg aayat "AAYATAL KURSI " he.( aayatal kursi ko sab aayato ka sardar bhi kaha gaya he.
QURAN me 4 Masjidon k naam hain..
1. Masjid e HARUM
2. Masjid e AQSA
3. Masjid e QUBA
4. Masjid e ZARAR
QURAN me 3 Shehron k naam hain..
1. MAKKA
2. MADINA
3. BABUL
QURAN me 4 Paharon k naam hain..
1. KOH e TOOR
2. JODI
3. SAFA
4. MARWA
QURAN me 4 Dhaaton k naam hain..
1. SONA
2. CHANDI
3. TAAMBA
4. LOHA
QURAN me 4 Sabziyon k naam hain..
1. PIYAZ
2. LEHSAN
3. KAKRI
4. SAAG
QURAN me 3 Darakhton k naam hain..
1. KHAJOOR
2. ZAITOON
3. BERI
QURAN E PAK me 4 Parindon k naam hain..
1. HOOD HOOD
2. ABABEEL
3. KAWA
4. TEETAR
Monday 4 March 2013
Open letter to Prime Minster of India.
Open letter to Prime Minster of India.
Don’t be become silent spectator on atrocities, you must act and intervene to stop abduction, harassment and illegal detention of Muslim Youths. Hand over the investigation to NIA immediately.
Dear Prime Minster of India!
We are writing this letter to you with a heavy heart and at this high time when the Hyderabad police by taking the advantage of bomb blasts are targeting the innocent Muslim youth only to dissolve the case and leading it to wrong direction. Also their intention is to misguide and misinform the people and the government of India. As on date many Muslim youth are illegally detained and no one knows their whereabouts. This is the clear violation of Supreme Court guidelines and the abduction by the state agencies is a grave violation of Human Rights of the people.
In the past in the Makkah Masjid and twin blasts as well Hyderabad police had done the grave mistake and played with the lives of innocent youth and spoiled their future. But, after the arrest of Hindutva terrorists by Maharashtra police and by the confessional statement of Aseemanand, the real faces of terrorists have been exposed. Your congress led government made the apology, paid the compensation and character certificate as well to those youth who were implicated in false cases of terror. But it seems that Hyderabad police did not learn any lesson from past mistakes and are repeating same mistakes and targeting selectively. The same youth are picked up again and investigating in illegal manner asking these youth as to who carried bomb blasts. These youth told the policemen that, the central Home Minster has already said that the RSS and its outfits are running the training camps, so ask these questions to them only not we. But police officers said, ‘no, they cannot do these blasts, the matter of questioning them does not arise because they are nationalists.’
If the track record of Hyderabad police is examined then we find that it is very much biased, communal minded and working on Hindutva ideology. This type of police cannot investigate sensational cases like bomb blasts because there is best guess that they will target innocent Muslim youth, torture and implicate them in false cases only to prove their performance and also to get rewards and awards.
Mr. Prime Minister of India, we are writing and informing you all these things not only because you are Prime Minister of India but also because you are father of great human rights activist. That is why we hope that you can understand the ground reality better than any head of the government. The actual situation in Hyderabad is that on the name of investigation of bomb blast a big political game is being played within the different wings of police department. Hyderabad police is trying its maximum to keep the authority on investigation with themselves.
Since the blasts took place on the border between Hyderabad and Cyberabad police commissionerates, the police of both the commissionerates are probing the attacks besides Special Investigation Team (SIT), Crime Investigation Department (CID) Counter-Intelligence and Octopus, the anti-terror wing of state police. The NIA, Intelligence Bureau (IB) and National Security Guard (NSG) are also taking part in the investigations.
Many investigating agencies have informally started their investigation in illegal manner without the approval of the government. With this you can understand that on the name of investigation a drama is being played here which is a part of greater conspiracy to wash away the evidences, divert the investigation. Instead of solving the bomb blast mystery they will dissolve it as they have done in Makkah Masjid bomb blast case.
NIA, which has already spread the probe to several states, is looking to piece together the information to track down the culprits and it is largely believed that NIA is proper agency to investigate this case so that real culprits can be held. But the intention of Hyderabad is mala fide and they do not want the investigation to be carried out by NIA. We came to know that NIA is also in disturbance due to Hyderabad police attitude. They have written to Central Home Ministry that they want to investigate the case but the Hyderabad police are not allowing doing so and the DGP is saying that the investigation would be done only by the Hyderabad police and NIA can look into the other leads of the country.
So, Mr. Prime Minister, people of this country are wondering as to why the investigative agencies are fighting and competing with each other to investigate the Hyderabad blasts? Why the Hyderabad police are not allowing NIA to investigate the case? The Hyderabad police have already failed in solving the Makkah Masjid bomb blast and twin blast, then why are they jumping to investigate these blasts? Is it only to target and harass the Muslim youth? As you are well aware that in this region Telangana agitation is going and law and order is in worst condition, on daily basis many people are killed and rapes are taking place, the state police is not in the position to either control these crimes nor investigate them properly. the example is a murder and rape case of Ayesha Meera, a student of Pharmacy, and Vatoli massacre, where six members of a Muslim family were burnt live by Hindu Vahini, they have failed in investigation and solving these cases. Then instead of leaving this to the National Investigating Agency, they are misleading the case.
Here we want to say clearly that the intention of Hyderabad police is malafide. You are the head of the government of India and under your supervision, Home Ministry is working and you have to take the decision in this regard. NIA has already requested the home ministry to hand over the case to them. At this juncture, you cannot be a silent spectator. You must act now and take the straight forward decision and instruct the home minister of India to direct the Andhra Pradesh government to stop heir own investigation and hand over the complete case to NIA immediately. We hope that you will understand the seriousness of the problem and fulfill your responsibility as head of the nation.
Thanking you,
Yours faithfully,
Lateef Mohammed Khan
Gen. SecretaryCivil Liberties
Hyderabad, INDIA
ALSO READ
http://twocircles.net/2013mar03/when_james_bond_visited_hyderabad.html
Saturday 2 March 2013
Friday 1 March 2013
Budget Speech of P. Chidambaram
Budget 2013-2014Speech of
P. Chidambaram
Minister of Finance
February 28, 2013
Madam Speaker,
I rise to present the Budget for the year 2013-14.
2. I recall my last tenure as Finance Minister and acknowledge with gratitude
the splendid support that I received from all sections of the House as well as the
people of India. Today, more than ever, I seek the same support as we navigate
the Indian economy through a crisis that has enveloped the whole world and
spared none.
3. I intend to keep my speech simple, straight forward and reasonably short.
I. THE ECONOMY AND THE CHALLENGES
4. I shall begin by setting the context. Global economic growth slowed
from 3.9 percent in 2011 to 3.2 percent in 2012. India is part of the global
economy: our exports and imports amount to 43 percent of GDP and two-way
external sector transactions have risen to 108 percent of GDP. We are not
unaffected by what happens in the rest of the world and our economy too has
slowed after 2010-11. In the current year, the CSO has estimated growth at 5
percent while the RBI has estimated growth at 5.5 percent. Whatever may be
the final estimate, it will be below India’s potential growth rate of 8 percent.
Getting back to that growth rate is the challenge that faces the country.
5. Let me say, however, there is no reason for gloom or pessimism. Even
now, of the large countries of the world, only China and Indonesia are growing
faster than India in 2012-13. And in 2013-14, if we grow at the rate projected by
many forecasters, only China will grow faster than India. Between 2004 and
2008, and again in 2009-10 and 2010-11, the growth rate was over 8 percent
and, in fact, crossed 9 percent in four of those six years. The average for the 11th
Plan period, entirely under the UPA Government, was 8 percent, the highest
ever in any Plan period. Achieving high growth, therefore, is not a novelty or
beyond our capacity. We have done it before and we can do it again.
Budget 2013-2014
Speech of
P. Chidambaram
Minister of Finance
February 28, 20132
6. I acknowledge that the Indian economy is challenged, but I am absolutely
confident that, with your cooperation, we will get out of the trough and get on to
the high growth path. I shall now outline our plans and priorities.
7. Our goal is ‘higher growth leading to inclusive and sustainable
development’. That is the mool mantra.
8. Growth is a necessary condition and we must unhesitatingly embrace
growth as the highest goal. It is growth that will lead to inclusive development,
without growth there will be neither development nor inclusiveness. However,
I may sound a note of caution. Owing to the plurality and diversity of India, and
centuries of neglect, discrimination and deprivation, many sections of the people
will be left behind if we do not pay special attention to them. As Joseph Stiglitz,
Nobel prize-winning economist, said, “There is a compelling moral case for
equity; but it is also necessary if there is to be sustained growth. A country’s
most important resource is its people.” We have examples of States growing at
a fast rate, but leaving behind women, the scheduled castes, the scheduled tribes,
the minorities, and some backward classes. The UPA does not accept that model.
The UPA Government believes in inclusive development, with emphasis on
improving human development indicators. I hope this Budget will be yet another
testimony to that commitment.
Fiscal Deficit, Current Account Deficit and Inflation
9. The purpose of a Budget – and the job of a Finance Minister – is to create
the economic space and find the resources to achieve the socio economic
objectives. At present, the economic space is constrained because of a high
fiscal deficit; reliance on foreign inflows to finance the current account deficit;
lower savings and lower investment; a tight monetary policy to contain inflation;
and strong external headwinds. During the course of my speech, I shall spell out
measures that will address each of these issues.
10. In September, 2012, Government accepted the main recommendations
of the Dr. Vijay Kelkar Committee. A new fiscal consolidation path was
announced. Red lines were drawn for the fiscal deficit at 5.3 percent of GDP
this year and 4.8 percent of GDP in 2013-14. I know there is a lot of scepticism.
In a little while, I shall tell you how we have fared.
11. My greater worry is the current account deficit (CAD). The CAD
continues to be high mainly because of our excessive dependence on oil imports,
the high volume of coal imports, our passion for gold, and the slow down in
exports. This year, and perhaps next year too, we have to find over USD 75
billion to finance the CAD. There are only three ways before us: FDI, FII or
External Commercial Borrowing (ECB). That is why I have been at pains to
state over and over again that India, at the present juncture, does not have the
choice between welcoming and spurning foreign investment. If I may be frank,
foreign investment is an imperative. What we can do is to encourage foreign
investment that is consistent with our economic objectives.3
12. Finally, the development must be sustainable – economically and
ecologically. The development model must have democratic legitimacy and
approval.
13. Looming large over our efforts to stimulate growth is inflation. Some
inflation is imported. Supply demand mismatch, for example in oilseeds and
pulses, also pushes up inflation. Aggregate demand is another cause of inflation.
The battle against inflation must be fought on all fronts. Our efforts in the past
few months have brought down headline WPI inflation to about 7.0 percent and
core inflation to about 4.2 percent. It is food inflation that is worrying, and we
shall take all possible steps to augment the supply side to meet the growing
demand for food items.
14. Government expenditure boosts aggregate demand and it has both good
and bad consequences. Wisdom lies in finding the correct level of government
expenditure. In the budget for 2012-13, the estimate of Plan Expenditure was
too ambitious and the estimate of non-Plan Expenditure was too conservative.
Faced with a huge fiscal deficit, I had no choice but to rationalise expenditure.
We took a dose of bitter medicine. It seems to be working. We also took some
policy decisions that had been deferred for too long, corrected some prices, and
undertook a review of certain tax policies. We have retrieved some economic
space. As I outline our plans and priorities, Hon’ble Members will find that I
have used that economic space to advantage – and to advance the UPA
Government’s socio-economic objectives.
II. THE PLAN AND BUDGETARY ALLOCATIONS
15. The 12th Five Year Plan began in 2012-13. Anticipating a global and
domestic recovery, total expenditure had been fixed at `14,90,925 crore. Due to
the slowdown and the austerity measures, the revised estimate is `14,30,825
crore or 96 percent of the budget estimate. The economic space that we have
gained has given me the confidence to be more ambitious in 2013-14. I have
been able to set the BE of total expenditure at `16,65,297 crore and of plan
expenditure at `5,55,322 crore. Hon’ble Members will be happy to know that
plan expenditure in 2013-14 will be 29.4 percent more than the revised estimate
of the current year. All flagship programmes have been fully and adequately
funded. I dare say I have provided sufficient funds to each Ministry or Department
consistent with their capacity to spend the funds. Now, it is over to the Ministries
and Departments to deliver the outcomes through good governance, prudent
cash management, close monitoring and timely implementation.
16. Madam Speaker, on the one side is economic policy. On the other side is
economic welfare. We are a developing country. The link between policy and
welfare can be expressed in a few words: opportunities, education, skills, jobs
and incomes. Every mother understands this. Every young man and woman
understands this. My budget for 2013-14 has before it one overarching goal: to
create opportunities for our youth to acquire education and skills that will get4
them decent jobs or self-employment that will bring them adequate incomes that
will enable them to live with their families in a safe and secure environment.
SC, ST, Women and Children
17. Let me assure Hon’ble Members that their concerns are my concerns
too. I know their concern for the welfare and progress of the scheduled castes
and the scheduled tribes for whom the Budget has sub plans. I also know their
concern that adequate funds must be provided for programmes that benefit
women, children and the minorities. I have tried to meet these concerns as fully
as possible. I propose to allocate `41,561 crore to the scheduled caste sub plan
and `24,598 crore to the tribal sub plan. The total represents an increase of 12.5
percent over the BE and 31 percent over the RE of the current year. I reiterate
the rule that the funds allocated to the sub plans cannot be diverted and must be
spent for the purposes of the sub plans.
18. I have made sufficient allocations to programmes relating to women and
children. Hon’ble Members will find from the budget documents that the gender
budget has `97,134 crore and the child budget has `77,236 crore in
2013-14.
19. Women belonging to the most vulnerable groups, including single women
and widows, must be able to live with self-esteem and dignity. Young women
face gender discrimination everywhere, especially at the work place. Ministry
of Women and Child Development has been asked to design schemes that will
address these concerns. I propose to provide an additional sum of `200 crore to
that Ministry to begin work in this regard.
Minorities
20. I have allocated `3,511 crore to the Ministry of Minority Affairs. This is
an increase of 12 percent over the BE and 60 percent over the RE of 2012-13.
21. The Maulana Azad Education Foundation is the main vehicle to
implement educational schemes and channelize funds to non-government
organisations for the minorities. Its corpus stands at `750 crore. With the objective
of raising it to `1,500 crore during the 12th Plan period, I propose to allocate
`160 crore to the corpus fund. The Foundation wishes to add medical aid to its
objectives. I have accepted that a beginning can be made by providing medical
facilities such as an infirmary or a resident doctor in the educational institutions
run or funded by the Foundation. I propose to allocate `100 crore to launch this
initiative.
Disabled Persons
22. Government is committed to provide support to persons with disabilities.
I propose to allocate a sum of `110 crore to the Department of Disability Affairs
for the ADIP Scheme in 2013-14, as against the RE of `75 crore in the current
year.5
Health and Education
23. Health for all and education for all remain our priorities.
24. I propose to allocate `37,330 crore to the Ministry of Health and Family
Welfare. Of this, the new National Health Mission that combines the rural mission
and the proposed urban mission will get `21,239 crore, an increase of 24.3 percent
over the RE.
25. I propose to provide `4,727 crore for medical education, training and
research.
26. The National Programme for the Health Care of Elderly is being
implemented in 100 selected districts of 21 States. Eight regional geriatric centres
are being funded for the development of dedicated geriatric departments. I
propose to provide `150 crore for this programme.
27. Ayurveda, Unani, Siddha and Homoeopathy are being mainstreamed
through the National Health Mission. I propose to allocate `1,069 crore to the
Department of AYUSH.
28. The six AIIMS-like institutions have admitted their first batch of students
in the academic session that commenced in September 2012. The hospitals
attached to the colleges will be functional in 2013-14. I propose to provide a
sum of `1,650 crore for these institutions.
29. Education is the other high priority. I propose to allocate `65,867 crore
to the Ministry of Human Resource Development, which is an increase of 17
percent over the RE of the previous year. The Sarva Shiksha Abhiyan (SSA) and
the Right to Education Act are firmly in place. I propose to provide `27,258
crore for SSA in 2013-14.
30. Investment in the Rashtriya Madhyamik Shiksha Abhiyan (RMSA) cannot
be postponed any longer. Hence, I propose to provide `3,983 crore for RMSA,
which is an increase of 25.6 percent over the RE of the current year.
31. Hon’ble Members will be happy to know that thousands of scholarships
will be given to students belonging to Scheduled Castes, Scheduled Tribes, Other
Backward Classes and Minorities, and girl children, in 2013-14. I propose to
allocate `5,284 crore to the various Ministries for the purpose, as compared
`4,575 crore in the RE of the current year.
32. The Mid-Day Meal Scheme (MDM) will be provided `13,215 crore.
33. The reconstruction of the Nalanda University has gathered momentum.
The Government is committed to the creation of Nalanda University as a centre
of educational excellence.6
ICDS
34. I commend the ICDS for being able to spend the entire amount of `15,850
crore provided in 2012-13. In recognition of the needs of children, I propose to
allocate `17,700 crore in 2013-14, representing an increase of 11.7 percent. The
focus will continue to be on early childhood care and education.
35. Maternal and child malnutrition in a country with abundant foodgrains is
a shame that we must overcome. A multi-sectoral programme that was announced
last year will be implemented in 100 districts during 2013-14 and it will be
scaled up to cover 200 districts the year after. I propose to allocate a sum of
`300 crore for the programme in 2013-14.
Drinking Water
36. Clean drinking water and sanitation have a number of beneficial
externalities. I propose to allocate `15,260 crore to the Ministry of Drinking
Water and Sanitation, as against the RE of `13,000 crore in the current year.
37. There are still 2,000 arsenic- and 12,000 fluoride-affected rural habitations
in the country. I propose to provide `1,400 crore towards setting up water
purification plants.
Rural Development
38. The Ministry of Rural Development steers a number of flagship
programmes. We estimate that they will be able to spend `55,000 crore before
the end of the current year, and I propose to allocate `80,194 crore in 2013-14,
marking an increase of 46 percent. MGNREGS will get `33,000 crore, PMGSY
will get `21,700 crore, and IAY will get `15,184 crore.
39. The objectives of PMGSY have been substantially fulfilled in several
States. Naturally, these States wish to do more. Hence, it is proposed to carve
out PMGSY-II and allocate a portion of the funds to the new programme that
will benefit States such as Andhra Pradesh, Haryana, Karnataka, Maharashtra,
Punjab and Rajasthan. Details of PMGSY-II will be announced by the Minister
of Rural Development in due course.
JNNURM
40. The Jawaharlal Nehru National Urban Renewal Mission (JNNURM) is
being continued in the 12th Plan. The 14,000 buses sanctioned during 2009 to
2012 have made a big contribution to urban transport. I propose to provide
`14,873 crore for JNNURM, as against the RE of `7,383 crore in the current
year. Out of this, a significant portion will be used to support the purchase of
upto 10,000 buses, especially by the hill States.7
III. AGRICULTURE
41. Thanks to our hard working farmers, agriculture continues to perform
very well. The average annual growth rate of agriculture and allied sector during
the 11th Plan was 3.6 percent as against 2.5 percent and 2.4 percent, respectively,
in the 9th and 10th Plans. In 2012-13, total foodgrain production will be over 250
million tonnes. Minimum support price of every agricultural produce under the
procurement programme has been increased significantly under the UPA
Government. Farmers have responded to the price signals and produced more.
Agricultural exports from April to December, 2012 have crossed `138,403 crore.
42. I propose to allocate `27,049 crore to the Ministry of Agriculture, an
increase of 22 percent over the RE of the current year. Of this, agricultural
research will be provided `3,415 crore.
Agricultural Credit
43. Agricultural credit is the driver of agricultural production. We will exceed
the target of `575,000 crore fixed for 2012-13. For 2013-14, I propose to increase
the target to `700,000 crore.
44. The interest subvention scheme for short-term crop loans will be continued
and a farmer who repays the loan on time will be able to get credit at 4 percent
per annum. So far, the scheme has been applied to loans extended by public
sector banks, RRBs and cooperative banks. I propose to extend the scheme to
crop loans borrowed from private sector scheduled commercial banks in respect
of loans given within the service area of the branch concerned.
Green Revolution
45. Bringing the green revolution to eastern India has been a remarkable
success. Assam, Bihar, Chhattisgarh and West Bengal have increased their
contribution to rice production. I propose to continue to support the eastern
Indian States with an allocation of `1000 crore in 2013-14.
46. The original Green Revolution States face the problem of stagnating yields
and over-exploitation of water resources. The answer lies in crop diversification.
I propose to allocate `500 crore to start a programme of crop diversification that
would promote technological innovation and encourage farmers to choose crop
alternatives.
47. The Rashtriya Krishi Vikas Yojana is intended to mobilise higher
investment in agriculture and the National Food Security Mission is intended to
bridge yield gaps. I propose to provide `9,954 crore and `2,250 crore, respectively,
for these two programmes.
48. Small and marginal farmers are vulnerable everywhere, and especially
so in drought prone and ecologically-stressed regions. Watershed management8
is crucial to improve productivity of land and water use. I propose to increase
the allocation for the integrated watershed programme from `3,050 crore in
2012-13 (BE) to `5,387 crore.
49. Eminent agricultural scientists have suggested that we start a pilot
programme on Nutri-Farms for introducing new crop varieties that are rich in
micro-nutrients such as iron-rich bajra, protein-rich maize and zinc-rich wheat.
I propose to provide a sum of upto `200 crore to start the pilots. Ministry of
Agriculture will formulate a scheme and I hope that agri businesses and farmers
will come together to start a sufficient number of pilots in the districts most
affected by malnutrition.
50. The National Institute of Biotic Stress Management for addressing plant
protection issues will be established at Raipur, Chhattisgarh. The Indian Institute
of Agricultural Bio-technology will be established at Ranchi, Jharkhand and will
serve as a centre of excellence in agricultural bio-technology.
51. A pilot scheme to replant and rejuvenate coconut gardens that was
implemented in some districts of Kerala and the Andaman & Nicobar Islands
will be extended to the entire State of Kerala, and I propose to provide an
additional sum of `75 crore in 2013-14.
Farmer Producer Organizations
52. Farmer Producer Organizations (FPO), including Farmer Producer
Companies (FPC), have emerged as aggregators of farm produce and link farmers
directly to markets. To signal our support to them, I intend to provide matching
equity grants to registered FPOs upto a maximum of `10 lakh per FPO to enable
them to leverage working capital from financial institutions. I propose to provide
`50 crore for this purpose. Besides, a Credit Guarantee Fund will also be created
in the Small Farmers’ Agri Business Corporation with an initial corpus of `100
crore. I urge State Governments to support such FPOs through necessary
amendments to the APMC Act and in other ways.
National Livestock Mission
53. The National Livestock Mission will be launched in 2013-14 to attract
investment and to enhance productivity taking into account local agro-climatic
conditions. I propose to provide `307 crore for the Mission. There will be a sub
Mission for increasing the availability of feed and fodder.
Food Security
54. Food security is as much a basic human right as the right to education or
the right to health care. The National Food Security Bill is a promise of the UPA
Government. I sincerely hope that Parliament will pass the Bill as early as
possible. Hon’ble Members will be happy to know that I have set apart `10,000
crore, over and above the normal provision for food subsidy, towards the
incremental cost that is likely under the Act.9
IV. INVESTMENT, INFRASTRUCTURE AND INDUSTRY
55. The growth rate of an economy is correlated with the investment rate.
The key to restart the growth engine is to attract more investment, both from
domestic investors and foreign investors. Investment is an act of faith. We will
improve communication of our policies to remove any apprehension or distrust
in the minds of investors, including fears about undue regulatory burden or
application of tax laws. ‘Doing business in India’ must be seen as easy, friendly
and mutually beneficial.
56. While every sector can absorb new investment, it is the infrastructure
sector that needs large volumes of investment. The 12th Plan projects an investment
of USD 1 trillion or `55,00,000 crore in infrastructure. The Plan envisages that
the private sector will share 47 percent of the investment. Besides, we need new
and innovative instruments to mobilise funds for this order of investment.
Government has taken or will take the following measures to increase investment
in infrastructure:
Infrastructure Debt Funds (IDF) will be encouraged. These funds will
raise resources and, through take-out finance, credit enhancement and
other innovative means, provide long-term low-cost debt for infrastructure
projects. I am happy to report that four IDFs have been registered with
SEBI so far and two of them were launched in the month of February,
2013.
India Infrastructure Finance Corporation Ltd (IIFCL), in partnership with
the Asian Development Bank, will offer credit enhancement to
infrastructure companies that wish to access the bond market to tap long
term funds.
In the last two years, a number of institutions were allowed to issue tax
free bonds. They raised `30,000 crore in 2011-12 and are expected to
raise about `25,000 crore in 2012-13. I propose to allow some institutions
to issue tax free bonds in 2013-14, strictly based on need and capacity to
raise money in the market, upto a total sum of `50,000 crore.
Multilateral Development Banks are keen to assist in efforts to promote
regional connectivity. Combining the ‘Look East’ policy and the interests
of the North Eastern States, I propose to seek the assistance of the World
Bank and the Asian Development Bank to build roads in the North Eastern
States and connect them to Myanmar.
NABARD operates the Rural Infrastructure Development Fund (RIDF).
RIDF has successfully utilised 18 tranches so far. I propose to raise the
corpus of RIDF-XIX in 2013-14 to `20,000 crore.10
Pursuant to the announcement made last year, a sum of `5000 crore will
be made available to NABARD to finance construction of warehouses,
godowns, silos and cold storage units designed to store agricultural
produce, both in the public and the private sectors. This window will
also finance, through the State Governments, construction of godowns
by panchayats to enable farmers to store their produce.
Road Construction
57. The road construction sector has reached a certain level of maturity. But
it faces challenges not envisaged earlier, including financial stress, enhanced
construction risk and contract management issues, that are best addressed by an
independent authority. Hence, Government has decided to constitute a regulatory
authority for the road sector. Bottlenecks stalling road projects have been
addressed and 3,000 kms of road projects in Gujarat, Madhya Pradesh,
Maharashtra, Rajasthan and Uttar Pradesh will be awarded in the first six months
of 2013-14.
Cabinet Committee Investment
58. Revival of investment in the industrial sector, especially manufacturing,
is a key challenge. Many projects are stalled because they are unable to clear
regulatory hurdles. The Cabinet Committee on Investment (CCI) has been set
up to monitor investment proposals as well as projects under implementation,
including stalled projects, and guide decision-making in order to remove
bottlenecks and quicken the pace of implementation. Two meetings of the CCI
have been held already and decisions were taken in respect of a number of oil
and gas, power, and coal projects. CCI will take up some more projects shortly.
New Investment
59. To attract new investment and to quicken the implementation of projects,
I propose to introduce an investment allowance for new high value investments.
A company investing `100 crore or more in plant and machinery during the
period 1.4.2013 to 31.3.2015 will be entitled to deduct an investment allowance
of 15 percent of the investment. This will be in addition to the current rates of
depreciation. There will be enormous spill-over benefits to small and medium
enterprises.
60. The National Electronics Policy 2012 is intended to promote manufacture
of electronic goods in India. We recognise the pivotal role of semiconductor
wafer fabs in the eco-system of manufacture of electronics. I propose to provide
appropriate incentives to semiconductor wafer fab manufacturing facilities,
including zero customs duty for plant and machinery.
Savings
61. Increasing savings and their optimal allocation for productive uses lead
to higher economic growth. After touching a high of 36.8 percent in 2007-08,11
gross domestic saving fell by 6 percentage points in 2011-12. The private sector,
comprising households and corporates, remains the main contributor to saving.
The household sector must be incentivised to save in financial instruments rather
than buy gold. Hence, I propose the following measures:
Firstly, the Rajiv Gandhi Equity Savings Scheme will be
liberalised to enable the first time investor to invest in mutual
funds as well as listed shares and she can do so, not in one year
alone, but in three successive years. The income limit will be
raised from `10,00,000 to `12,00,000;
Secondly, a person taking a loan for his first home from a bank or
a housing finance corporation upto `25,00,000 during the period
1.4.2013 to 31.3.2014 will be entitled to an additional deduction
of interest of upto `100,000. This will promote home ownership
and give a fillip to a number of industries like steel, cement, brick,
wood, glass etc. besides jobs to thousands of construction workers.
Thirdly, in consultation with RBI, I propose to introduce
instruments that will protect savings from inflation, especially
the savings of the poor and middle classes. These could be
Inflation Indexed Bonds or Inflation Indexed National Security
Certificates. The structure and tenor of the instruments will be
announced in due course.
Industrial Corridors
62. The Delhi Mumbai Industrial Corridor (DMIC) project has made rapid
progress. Plans for seven new cities have been finalised and work on two new
smart industrial cities at Dholera, Gujarat and Shendra Bidkin, Maharashtra will
start during 2013-14. We acknowledge the support of the Government of Japan.
In order to dispel any doubt about funding, I wish to make it clear that we shall
provide, if required, additional funds during 2013-14 within the share of the
Government of India in the overall outlay for the project.
63. The Department of Industrial Policy and Promotion (DIPP) and the Japan
International Cooperation Agency (JICA) are currently preparing a comprehensive
plan for the Chennai Bengaluru Industrial Corridor. The corridor will be
developed in collaboration with the Governments of Tamil Nadu, Andhra Pradesh
and Karnataka.
64. The next corridor will be the Bengaluru Mumbai Industrial Corridor on
which preparatory work has started.
Leh-Kargil Transmission Line
65. To improve power supply in the Leh-Kargil region and connect the Ladakh
region to the northern grid, the Government will construct a transmission system
from Srinagar to Leh at a cost of `1,840 crore. I propose to provide `226 crore
in 2013-14 for the project.12
Ports
66. Two new major ports will be established in Sagar, West Bengal and in
Andhra Pradesh to add 100 million tonnes of capacity. In addition, a new outer
harbour will be developed in the VOC port at Thoothukkudi, Tamil Nadu through
PPP at an estimated cost of `7,500 crore. When completed, this will add 42
million tonnes of capacity.
National Waterways
67. Five inland waterways have been declared as national waterways. I am
happy to announce that the Minister of Water Resources will move a Bill in
Parliament to declare the Lakhipur – Bhanga stretch of river Barak in Assam as
the sixth national waterway. Preparatory work is underway to build a grid
connecting waterways, roads and ports. The 12th Plan has an adequate outlay for
capital works, including dredging, on the national waterways. The objective is
to choose barge operators, through competitive bidding, to transport bulk cargo
on the national waterways. The first transport contract has been awarded in
West Bengal from Haldia to Farakka.
Oil and Gas
68. The oil and gas exploration policy will be reviewed to move from profit
sharing to revenue sharing contracts. A policy to encourage exploration and
production of shale gas will be announced. The natural gas pricing policy will
be reviewed and uncertainties regarding pricing will be removed. NELP blocks
that were awarded but are stalled will be cleared. The 5 MMTPA LNG terminal
in Dabhol, Maharashtra will be fully operational in 2013-14.
Coal
69. Despite abundant coal reserves, we continue to import large volumes of
coal. Coal imports during the period April-December, 2012 have crossed 100
million tonnes. It is estimated that imports will rise to 185 million tonnes in
2016-17. If the coal requirements of the existing power plants and the power
plants that will come into operation by 31.3.2015 are taken into account, there is
no alternative except to import coal and adopt a policy of blending and pooled
pricing. In the medium to long term, we must reduce our dependence on imported
coal. One of the ways forward is to devise a PPP policy framework, with Coal
India Limited as one of the partners, in order to increase the production of coal
for supply to power producers and other consumers. These matters are under
active consideration and the Minister of Coal will announce Government’s
policies in this behalf in due course.
Power
70. Hon’ble Members are aware that the Government has approved a scheme
for the financial restructuring of DISCOMS to restore the health of the power
sector. I would urge State Governments to prepare the financial restructuring
plans quickly, sign the MOU, and take advantage of the scheme.13
Micro, Small and Medium Enterprises
71. Micro, small and medium enterprises (MSME) have a large share of jobs,
production and exports. Too many of them do not grow because of the fear of
losing the benefits associated with staying small or medium. To encourage them
to grow, I propose that the benefits or preferences enjoyed by them will stay with
them for upto three years after they grow out of the category in which they obtained
the benefit. To begin with, I propose that the non-tax benefits may be made
available to a MSME unit for three years after it graduates to a higher category.
72. To provide greater support to MSMEs, I propose to enhance the
refinancing capability of SIDBI from the current level of `5,000 crore to `10,000
crore per year.
73. SIDBI set up the India Microfinance Equity Fund in 2011-12 with
budgetary support of `100 crore to provide equity and quasi-equity to Micro
Finance Institutions (MFI). An amount of `104 crore has been committed to 37
MFIs. I have allocated `100 crore to the IME Fund in the budget and I now
propose to provide another sum of `100 crore to the Fund.
74. The Factoring Act 2011 has been passed by Parliament. I propose to
provide a corpus of `500 crore to SIDBI to set up a Credit Guarantee Fund for
factoring.
75. Tool Rooms and Technology Development Centres set up by the Ministry
of Micro, Small and Medium Enterprises have done well in extending technology
and design support to small businesses. I propose to provide, with World Bank
assistance, a sum of `2,200 crore during the 12th Plan period to set up 15 additional
Centres.
76. Incubators play an important role in mentoring new businesses which
start as a small or medium business. The new Companies Bill obliges companies
to spend 2 percent of average net profits under Corporate Social Responsibility
(CSR). I am glad to announce that the Ministry of Corporate Affairs will notify
that funds provided to technology incubators located within academic institutions
and approved by the Ministry of Science and Technology or Ministry of MSME
will qualify as CSR expenditure.
Textiles
77. I propose to continue the Technology Upgradation Fund Scheme (TUFS)
for the textile sector in the 12th Plan with an investment target of `151,000 crore.
The major focus would be on modernisation of the powerloom sector. I propose
to provide `2,400 crore in 2013-14 for the purpose.
78. Textile parks have been set up under Scheme for Integrated Textile Parks
(SITP). It is proposed to set up Apparel Parks within the SITPs to house apparel
manufacturing units. To incentivise such Apparel Parks, I propose to allocate14
`50 crore to the Ministry of Textiles to provide an additional grant of upto `10
crore to each Park.
79. A new scheme with an outlay of `500 crore called the Integrated
Processing Development Scheme will be implemented in the 12th Plan to address
the environmental concerns of the textile industry, including improving the
effluent treatment infrastructure. I propose to provide `50 crore in 2013-14 for
the scheme.
80. The handloom sector is in distress. A very large proportion of handloom
weavers are women and belong mainly to the backward classes. I propose to
accept their demand for working capital and term loans at a concessional interest
of 6 percent. 150,000 individual weavers and 1,800 primary cooperative societies
will benefit in 2013-14. I propose to allocate an additional sum of `96 crore in
2013-14 to the Ministry of Textiles for interest subvention.
81. India has a rich heritage of traditional industries. Khadi, village industries
and coir were taken up for development during the 11th Plan under the Scheme
of Fund for Regeneration of Traditional Industries (SFURTI). The 12th Plan has
provided an outlay of `850 crore. I propose to leverage assistance from
Multilateral Development Banks to extend SFURTI to 800 clusters during the
12th Plan. 400,000 artisans are expected to be benefited.
Foreign Trade
82. I look forward to the changes that will be made to the Foreign Trade
Policy next month and I assure my support to measures that will be taken to
boost exports of goods and services.
V. FINANCIAL SECTOR
83. The financial sector is at the heart of the economy.
84. Hon’ble Members are aware that Government constituted the Financial
Sector Legislative Reforms Commission (FSLRC) in 2011. I am informed that
the report will be presented next month. It is our intention to examine the
recommendations and act quickly and decisively so that our financial sector stands
on sound legal foundations and remains well-regulated, efficient and
internationally competitive. I propose to constitute a Standing Council of Experts
in the Ministry of Finance to analyse the international competitiveness of the
Indian financial sector, periodically examine the transaction costs of doing
business in the Indian market, and provide inputs to Government for necessary
action.
Banking
85. Our public sector banks are well regulated, they must also be adequately
capitalised. Before the end of March, 2013, we shall provide `12,517 crore to
infuse additional capital into 13 public sector banks. In 2013-14, I propose to15
provide a further amount of `14,000 crore for capital infusion. We shall ensure
that public sector banks always meet the Basel III regulations as they come into
force in a phased manner.
86. Financial inclusion has made rapid strides. All scheduled commercial
banks and all RRBs are on core banking solution (CBS) and on the electronic
payment systems (NEFT and RTGS). We are working with RBI and NABARD
to bring all other banks, including some cooperative banks, on CBS and e-payment
systems by 31.12.2013. Public sector banks have assured me that all their
branches will have an ATM in place by 31.3.2014.
87. Women are at the head of many banks today, including two public sector
banks, but there is no bank that exclusively serves women. Can we have a bank
that lends mostly to women and women-run businesses, that supports women
SHGs and women’s livelihood, that employs predominantly women, and that
addresses gender related aspects of empowerment and financial inclusion? I
think we can. I therefore propose to set up India’s first Women’s Bank as a
public sector bank and I shall provide `1,000 crore as initial capital. I hope to
obtain the necessary approvals and the banking licence by October, 2013, and I
invite all Hon’ble Members to the inauguration of the bank shortly thereafter.
88. The Rural Housing Fund set up through the National Housing Bank is
used to refinance lending institutions, including RRBs, that extend loans for
rural housing. So far, 400,000 rural families have taken loans. In the last Budget,
we provided `4,000 crore to the Fund. In consultation with RBI, I propose to
provide `6,000 crore to the Rural Housing Fund in 2013-14.
89. Similarly, it is proposed to start a fund for urban housing to mitigate the
huge shortage of houses in urban areas. I propose to ask National Housing Bank
to set up the Urban Housing Fund and, in consultation with RBI, I propose to
provide `2,000 crore to the Fund in 2013-14.
Insurance
90. A multi-pronged approach will be followed to increase the penetration
of insurance, both life and general, in the country. I have a number of proposals
that have been finalised in consultation with the regulator, IRDA.
Insurance companies will be empowered to open branches in Tier
II cities and below without prior approval of IRDA.
All towns of India with a population of 10,000 or more will have
an office of LIC and an office of at least one public sector general
insurance company. I propose to achieve this goal by 31.3.2014.
KYC of banks will be sufficient to acquire insurance policies.16
Banks will be permitted to act as insurance brokers so that the entire
network of bank branches will be utilised to increase penetration.
Banking correspondents will be allowed to sell micro-insurance
products.
Group insurance products will now be offered to homogenous
groups such as SHGs, domestic workers associations, anganwadi
workers, teachers in schools, nurses in hospitals etc.
There are about 10,00,000 motor third party claims that are pending
before Tribunals/Courts. Public sector general insurance companies
will organise adalats to settle the claims and give relief to the affected
persons/families.
91. The Insurance Laws (Amendment) Bill and the PFRDA Bill are before
this House. I sincerely hope that Government and the Opposition can arrive at a
consensus and pass the two Bills in this session.
92. The Rashtriya Swasthiya Bima Yojana covers 34 million families below
the poverty line. It will now be extended to other categories such as rickshaw,
auto-rickshaw and taxi drivers, sanitation workers, rag pickers and mine workers.
93. A comprehensive and integrated social security package for the
unorganised sector is a measure that will benefit the poorest and most vulnerable
sections of society. The package should include life-cum-disability cover, health
cover, maternity assistance and pension benefits. The present schemes such as
AABY, JSBY, RSBY, JSY and IGMSY are run by different ministries and
departments. I propose to facilitate convergence among the various stakeholder
ministries/departments so that we can evolve a comprehensive social security
package.
Capital Market
94. I believe that India’s capital market is among the best regulated markets.
This year is SEBI’s silver jubilee year and I offer the regulator our congratulations.
A proposal to amend the SEBI Act to strengthen the regulator is under
consideration.
95. I have a number of proposals relating to the capital market that have
been finalised in consultation with SEBI:
There are many categories of foreign portfolio investors such as
FIIs, sub-accounts, QFIs etc. and there are also different avenues
and procedures for them. Designated depository participants,
authorised by SEBI, will now be free to register different classes of
portfolio investors, subject to compliance with KYC guidelines.
SEBI will simplify the procedures and prescribe uniform registration
and other norms for entry of foreign portfolio investors. SEBI will17
converge the different KYC norms and adopt a risk-based approach
to KYC to make it easier for foreign investors such as central banks,
sovereign wealth funds, university funds, pension funds etc. to invest
in India.
In order to remove the ambiguity that prevails on what is Foreign
Direct Investment (FDI) and what is Foreign Institutional Investment
(FII), I propose to follow the international practice and lay down a
broad principle that, where an investor has a stake of 10 percent or
less in a company, it will be treated as FII and, where an investor
has a stake of more than 10 percent, it will be treated as FDI. A
committee will be constituted to examine the application of the
principle and to work out the details expeditiously.
FIIs will be allowed to participate in the exchange traded currency
derivative segment to the extent of their Indian rupee exposure in
India.
FIIs will also be permitted to use their investment in corporate bonds
and Government securities as collateral to meet their margin
requirements.
Angel investors bring both experience and capital to new ventures.
SEBI will prescribe requirements for angel investor pools by which
they can be recognised as Category I AIF venture capital funds.
Small and medium enterprises, including start-up companies, will
be permitted to list on the SME exchange without being required
to make an initial public offer (IPO), but the issue will be restricted
to informed investors. This will be in addition to the existing SME
platform in which listing can be done through an IPO and with
wider investor participation.
With the object of developing the debt market, stock exchanges
will be allowed to introduce a dedicated debt segment on the
exchange. Banks and primary dealers will be the proprietary trading
members. In order to create a complete market, insurance
companies, provident funds and pension funds will be permitted to
trade directly in the debt segment with the approval of the sectoral
regulator.
Mutual fund distributors will be allowed to become members in
the Mutual Fund segment of stock exchanges so that they can
leverage the stock exchange network to improve their reach and
distribution.
The list of eligible securities in which Pension Funds and Provident
Funds may invest will be enlarged to include exchange traded funds,
debt mutual funds and asset backed securities.18
VI. ENVIRONMENT
96. India tosses out several thousand tonnes of garbage each day. We will
evolve a scheme to encourage cities and municipalities to take up waste-to-energy
projects in PPP mode which would be neutral to different technologies. I propose
to support municipalities that will implement waste-to-energy projects through
different instruments such as viability gap funding, repayable grant and low cost
capital.
97. Clean and Green energy is a priority of the Government. However, despite
cost advantages in labour, land and construction, the consumer pays a high price
for renewable energy. One of the reasons is high cost of finance. In order to
provide low cost finance, Government will provide low interest bearing funds
from the National Clean Energy Fund (NCEF) to IREDA to on-lend to viable
renewable energy projects. The scheme will have a life span of five years.
98. The non-conventional wind energy sector deserves incentives. Hence, I
propose to reintroduce ‘generation-based incentive’ for wind energy projects
and provide `800 crore to the Ministry of Non Renewable Energy for the purpose.
VII. OTHER PROPOSALS
Backward Regions Grant Fund
99. The Backward Regions Grant Fund (BRGF) is a vital source of gap
funding. I propose to allocate `11,500 crore in 2013-14 as well as another sum
of `1,000 crore for LWE affected districts. BRGF will include a State component
for Bihar, the Bundelkand region, West Bengal, the KBK districts of Odisha and
the 82 districts under the Integrated Action Plan. The present criteria for
determining backwardness are based on terrain, density of population and length
of international borders. It may be more relevant to use a measure like the distance
of the State from the national average under criteria such as per capita income,
literacy and other human development indicators. I propose to evolve new criteria
and reflect them in future planning and devolution of funds.
Skill Development
100. Hon’ble Members will recall that in 2008-09 I had proposed the
establishment of the National Skill Development Corporation. The Corporation
has since been set up and has done good work, but there is a long way to go. We
have set an ambitious target of skilling 50 million people in the 12th Plan period,
including 9 million in 2013-14. We have to pull out all stops to achieve this
objective. Funds will be released by the National Rural Livelihood Mission and
the National Urban Livelihood Mission to be spent on skill development activities.
5 percent of the Border Area Development Programme Fund, 10 percent of the
Special Central Assistance to the Scheduled Caste sub plan and the Tribal sub
plan, and some other funds will also be used for skill development.19
Defence
101. I propose to increase the allocation for Defence to `203,672 crore. This
will include `86,741 crore for capital expenditure. The Minister of Defence has
been most understanding, and I assure him and the House that constraints will
not come in the way of providing any additional requirement for the security of
the nation.
Science & Technology
102. Despite our constraints, we must find resources for science and technology
and for Space, Atomic Energy etc. I propose to allocate `6,275 crore to the
Ministry of Science & Technology; `5,615 crore to the Department of Space;
and `5,880 crore to the Department of Atomic Energy. Hon’ble Members will
be happy to know that these amounts are substantial enhancements.
103. While we extol the virtues of science and technology (S&T), I think we
do not pay enough attention to science and technology for the common man.
With the help of the Ministry of Science and Technology and the Principal
Scientific Adviser to the Government, I have identified a few amazing S&T
innovations. I propose to set apart `200 crore to fund organisations that will
scale up and make these products available to the people. I propose to ask the
National Innovation Council to formulate a scheme for the management and
application of the fund.
Institutions of Excellence
104. Continuing the tradition of supporting institutions of excellence, I propose
to make a grant of `100 crore each to:
Aligarh Muslim University, Aligarh campus
Banaras Hindu University, Varanasi
Tata Institute of Social Sciences, Guwahati campus
Indian National Trust for Art and Cultural Heritage (INTACH)
Sports
105. Sports of all kind deserve our support. We have many sportsmen and
sportswomen but few coaches. Hence, I propose to set up the National Institute
of Sports Coaching at Patiala at a cost of `250 crore over a period of three years.
Broadcasting
106. Government proposes to expand private FM radio services to 294 more
cities. About 839 new FM radio channels will be auctioned in 2013-14 and,
after the auction, all cities having a population of more than 100,000 will be
covered by private FM radio services.
Panchayati Raj
107. The Rajiv Gandhi Panchayat Sashaktikaran Abhiyan (RGPSA) was started
in the current year with a modest allocation of `50 crore. Keeping in view the20
importance of building capacity in panchayati raj institutions, I had allocated
`455 crore to the Ministry of Panchayati Raj in 2013-14. I propose to provide an
additional `200 crore .
Post Offices
108. Government has initiated an ambitious IT driven project to modernise
the postal network at a cost of `4,909 crore. Post offices will become part of the
core banking solution and offer real time banking services. I propose to provide
`532 crore for the project in 2013-14.
Ghadar Memorial
109. To mark the centenary of the Ghadar movement, the Government will
fund the conversion of the Ghadar Memorial in San Francisco into a museum
and library.
Central Schemes
110. Government is concerned about the proliferation of Centrally Sponsored
Schemes (CSS) and Additional Central Assistance (ACA) schemes. They were
173 in number at the end of the 11th Plan. I am glad to announce that the schemes
will be restructured into 70 schemes. Each scheme will be reviewed once in two
years. Central funds for the schemes will be given to the States as part of central
plan assistance. Hon’ble Members will be glad to know that, in 2013-14, I expect
to transfer resources to the tune of `5,87,082 crore to the States and UTs under
share of taxes, non-plan grants and loans, and central assistance.
I make three promises
111. Madam Speaker, before I close this part of my speech, I wish to draw a
picture of three faces that represent the vast majority of the people of India. The
first is the face of the woman. She is the girl child, the young student, the
sportswoman, the homemaker, the working woman, and the mother. The second
is the face of the youth. He is impatient, she is ambitious, and both represent the
aspirations of a new generation. The third is the face of the poor who look to the
government for a little help, a scholarship or an allowance or a subsidy or a
pension. To each of them, on behalf of the Government, the Prime Minister and
the Chairperson of the UPA, I make a promise.
112. To the women of India: We have a collective responsibility to ensure the
dignity and safety of women. Recent incidents have cast a long, dark shadow on
our liberal and progressive credentials. As more women enter public spaces –
for education or work or access to services or leisure – there are more reports of
violence against them. We stand in solidarity with our girl children and women.
And we pledge to do everything possible to empower them and to keep them
safe and secure. A number of initiatives are under way and many more will be
taken by Government as well as non-government organisations. These deserve
our support. As an earnest of our commitment to these objectives, I propose to
set up a fund – let us call it the Nirbhaya Fund – and Government will contribute
`1,000 crore. Ministry of Women and Child Development and other ministries21
concerned will be requested to work out the details of the structure, scope and
application of the fund.
113. To the youth of India: A large number of youth must be motivated to
voluntarily join skill development programmes. I propose to ask the National
Skill Development Corporation to set the curriculum and standards for training
in different skills. Any institution or body may offer training courses. At the end
of the training, the candidate will be required to take a test conducted by authorised
certification bodies. Upon passing the test, the candidate will be given a certificate
as well as a monetary reward of an average of `10,000 per candidate. Skilltrained youth will give an enormous boost to employability and productivity.
On the assumption that 10,00,000 youth can be motivated, I propose to set apart
`1,000 crore for this ambitious scheme. I hope that this will be the trigger to
extend skill development to all the youth of the country.
114. To the poor of India: The Direct Benefit Transfer scheme has captured
the imagination of the people, especially the poor. The Government is the
government of the people. The money is the money belonging to the people.
When we say “Aapka paisa aapke haath”, why should anyone oppose it? We
have made a modest and cautious beginning on the 1st of January, 2013. Nearly
11 lakh beneficiaries have received the benefit directly into their bank accounts.
All around us, we see the smiles on the faces of the dalit girls and the tribal boys
who have received their scholarships. We see the happiness on the faces of the
pregnant women who are assured that the Government cares for the mother and
the child before and after child birth. We are redoubling our efforts to ensure
that the digitized beneficiary lists are available; that a bank account is opened
for each beneficiary; and that the bank account is seeded with Aadhaar in due
course. I assure the House and the people of India that the DBT scheme will be
rolled out throughout the country during the term of the UPA Government.
Budget Estimates
115. I shall now turn to the Budget Estimates for 2013-14.
116. The estimate of Plan Expenditure is placed at `5,55,322 crore. As a
proportion of total expenditure, it will be 33.3 percent.
117. Non Plan Expenditure is estimated at `11,09,975 crore.
118. When we accepted the main recommendations of the Kelkar report, I
had drawn some red lines and promised that I would not cross those lines. I am
glad to report that I have kept my promise. The fiscal deficit for the current year
has been contained at 5.2 percent and the fiscal deficit for the year
2013-14 is estimated at 4.8 percent. The revenue deficit for the current year will
be 3.9 percent and the revenue deficit for the year 2013-14 is estimated at 3.3
percent. We must redeem our promise by 2016-17 and bring down the fiscal
deficit to 3 percent, the revenue deficit to 1.5 percent and the effective revenue
deficit to zero.22
PART B
VIII. TAX PROPOSALS
119. Madam Speaker, I shall now present my tax proposals.
120. When I took over in August, 2012, I made a statement that “clarity in tax
laws, a stable tax regime, a non-adversarial tax administration, a fair mechanism
for dispute resolution, and an independent judiciary will provide great assurance”.
That statement is the underlying theme of my tax proposals, both on the direct
taxes side and on the indirect taxes side.
121. An emerging economy must have a tax system that reflects best global
practices. I propose to set up a Tax Administration Reform Commission to review
the application of tax policies and tax laws and submit periodic reports that can
be implemented to strengthen the capacity of our tax system.
122. In 2011-12, the tax GDP ratio was 5.5 percent for direct taxes and 4.4
percent for indirect taxes. These ratios are one of the lowest for any large
developing country and will not garner adequate resources for inclusive and
sustainable development. I may recall that in 2007-08, the tax GDP ratio touched
a peak of 11.9 percent. In the short term, we must reclaim that peak.
Direct Taxes
123. Let me begin with direct taxes.
124. In a constrained economy, there is little room to raise tax rates or large
amounts of additional tax revenues. Equally, there is little room to give away
tax revenues or the tax base. It is a time for prudence, restraint and patience.
125. The rates of personal income tax have survived four Finance Ministers
and four Governments. The current slabs were introduced only last year. Hence,
I am afraid, there is no case to revise either the slabs or the rates. Besides, even
a moderate increase in the level of threshold exemption will mean that hundreds
of thousands of tax payers will go out of the tax net and the tax base will be
severely eroded. Nevertheless, I am inclined to give some relief to the tax payers
in the first bracket of `2 lakh to `5 lakh. Assuming an inflation rate of 10 percent
and a notional rise in the threshold exemption from `2,00,000 to `2,20,000, I
propose to provide a tax credit of `2,000 to every person who has a total income
upto `5 lakh. 1.8 crore tax payers are expected to benefit to the value of `3,600
crore.
126. Fiscal consolidation cannot be effected only by cutting expenditure.
Wherever possible, revenues must also be augmented. When I need to raise23
resources, who can I go to except those who are relatively well placed in society?
There are 42,800 persons – let me repeat, only 42,800 persons – who admitted to
a taxable income exceeding `1 crore per year. I propose to impose a surcharge
of 10 percent on persons whose taxable income exceeds `1 crore per year. This
will apply to individuals, HUFs, firms and entities with similar tax status.
127. I also propose to increase the surcharge from 5 percent to 10 percent on
domestic companies whose taxable income exceeds `10 crore per year. In the
case of foreign companies, who pay the higher rate of corporate tax, the surcharge
will increase from 2 percent to 5 percent.
128. In all other cases, such as dividend distribution tax or tax on distributed
income, I propose to increase the current surcharge of 5 percent to 10 percent.
129. The additional surcharges will be in force for only one year, that is
Financial Year 2013-14.
130. I believe there is a little bit of the spirit of Mr. Azim Premji in every
affluent tax payer. I am confident that when I ask the relatively prosperous to
bear a small burden for one year, just one year, they will do so cheerfully.
131. The education cess for all tax payers shall continue at 3 percent.
132. In part A of my speech, I had referred to the tax benefit to the first-home
buyer who takes a loan for an amount not exceeding `25,00,000. I propose to
allow such home buyers an additional deduction of interest of `100,000 to be
claimed in AY 2014-15. If the limit is not exhausted, the balance may be claimed
in AY 2015-16. This deduction will be over and above the deduction of `150,000
allowed for self-occupied properties under section 24 of the Income-tax Act.
133. I propose to relax the eligibility conditions of life insurance policies for
persons suffering from disability or certain ailments by increasing the permissible
premium rate from 10 percent to 15 percent of the sum assured. This relaxation
shall be available in respect of policies issued on or after 1.4.2013.
134. Contributions made to the Central Government Health Scheme are eligible
for deduction under section 80D of the Income-tax Act. I propose to extend the
same benefit to similar schemes of the Central Government and State
Governments.
135. Donations made to the National Children’s Fund will now be eligible for
100 percent deduction.
136. No large economy can become truly developed without a robust
manufacturing sector. Hence, as stated in part A of my speech, I propose to
provide an investment allowance at the rate of 15 percent to a manufacturing
company that invests more than `100 crore in plant and machinery during the
period 1.4.2013 to 31.3.2015.24
137. I propose to extend the ‘eligible date’ for projects in the power sector to
avail of the benefit under section 80-IA of the Income-tax Act, from 31.3.2013
to 31.3.2014.
138. In order to encourage repatriation of funds from overseas companies, I
propose to continue for one more year the concessional rate of tax of 15 percent
on dividend received by an Indian company from its foreign subsidiary. Further,
the Indian company shall not be liable to pay dividend distribution tax on the
distribution to its shareholders of that portion of the income received from its
foreign subsidiary.
139. With a view to attract investment in long term infrastructure bonds in
foreign currency, the rate of tax on interest paid to non-resident investors was
reduced last year from 20 percent to 5 percent. I propose to extend the same
benefit to investment made through a designated bank account in rupeedenominated long term infrastructure bonds.
140. In order to facilitate financial institutions to securitise their assets through
a special purpose vehicle, I propose to exempt the Securitisation Trust from
income tax. Tax shall be levied only at the time of distribution of income by the
Securitisation Trust at the rate of 30 percent in the case of companies and at the
rate of 25 percent in the case of an individual or HUF. No further tax will be
levied on the income received by the investors from the Securitisation Trust.
141. Investor Protection Fund set up by a depository for the protection of
interest of beneficial owners will be exempt from income tax.
142. I propose to provide parity in taxation between an IDF-Mutual Fund that
distributes income and an IDF-NBFC that pays interest, when the payment is
made to a non-resident. The rate of tax on such distributed income or interest
will be 5 percent.
143. Venture Capital Funds have been allowed pass through status under the
Income-tax Act. The relevant regulations of SEBI have been replaced by
Alternative Investment Fund Regulations. Hence, I propose to extend, subject
to certain conditions, pass through status to category I Alternative Investment
Funds registered with SEBI as venture capital funds. Angel Investors who are
recognised as category I AIF venture capital funds will also get pass through
status.
144. I propose to modify the Rajiv Gandhi Equity Saving Scheme, details of
which I had mentioned in part A of my speech.
145. Transactions in immovable properties are usually undervalued and
underreported. One-half of the transactions do not carry the PAN of the parties
concerned. With a view to improve the reporting of such transactions and the
taxation of capital gains, I propose to apply TDS at the rate of one percent on the25
value of the transfer of immovable property where the consideration exceeds
`50 lakhs. However, agricultural land will be exempt.
146. Some tax avoidance arrangements have come to notice, and I propose to
plug the loopholes. Some unlisted companies have avoided dividend distribution
tax by arrangements involving buyback of shares. I propose to levy a final
withholding tax at the rate of 20 percent on profits distributed by unlisted
companies to shareholders through buyback of shares.
147. Another case is the distribution of profits by a subsidiary to a foreign
parent company in the form of royalty. Besides, the rate of tax on royalty in the
Income-tax Act is lower than the rates provided in a number of Double Tax
Avoidance Agreements. This is an anomaly that must be corrected. Hence, I
propose to increase the rate of tax on payments by way of royalty and fees for
technical services to non-residents from 10 percent to 25 percent. However, the
applicable rate will be the rate of tax stipulated in the DTAA.
148. Securities Transaction Tax (STT) has a stabilizing effect on transactions,
although it adds to the transaction cost. Taking note of the changes and shifts in
the market, I propose to make the following reductions in the rates of tax:
Equity futures: from 0.017 to 0.01 percent
MF/ETF redemptions at fund counters: from 0.25 to 0.001 percent
MF/ETF purchase/sale on exchanges: from 0.1 to 0.001 percent, only on
the seller
149. There is no distinction between derivative trading in the securities market
and derivative trading in the commodities market, only the underlying asset is
different. It is time to introduce Commodities Transaction Tax (CTT) in a limited
way. Hence, I propose to levy CTT on non-agricultural commodities futures
contracts at the same rate as on equity futures, that is at 0.01 percent of the price
of the trade. Trading in commodity derivatives will not be considered as a
‘speculative transaction’ and CTT shall be allowed as deduction if the income
from such transaction forms part of business income. As I said, agricultural
commodities will be exempt.
150. Hon’ble Members are aware that the Finance Act, 2012 introduced the
General Anti Avoidance Rules, for short, GAAR. A number of representations
were received against the new provisions. An expert committee was constituted
to consult stakeholders and finalise the GAAR guidelines. After careful
consideration of the report, Government announced certain decisions on
14.1.2013 which were widely welcomed. I propose to incorporate those decisions
in the Income-tax Act. The modified provisions preserve the basic thrust and
purpose of GAAR. Impermissible tax avoidance arrangements will be subjected
to tax after a determination is made through a well laid out procedure involving26
an assessing officer and an Approving Panel headed by a Judge. I propose to
bring the modified provisions into effect from 1.4.2016.
151. The Rangachary Committee was appointed to look into tax matters
relating to Development Centres & IT sector and Safe Harbour rules for a number
of sectors. We have issued a circular covering IT sector exports and will shortly
issue a circular covering Development Centres. Rules on Safe Harbour will be
issued after examining the reports of the Committee, the last of which is expected
by 31.3.2013.
152. The fifth Large Tax payer Unit will be opened at Kolkata shortly.
153. I have also taken a number of administrative measures in the last few
months. I propose to expand the scope of annual information returns, extend epayment facility through more banks, extend the refund banker system to refunds
of more than `50,000, and make e-filing mandatory for more categories of
assessees. The Income-tax department is rapidly moving towards technologybased processing as would be evident from the Central Processing Cell set up at
Bengaluru and the Central Processing Cell-TDS inaugurated a few days ago at
Vaishali, Ghaziabad.
154. The Direct Taxes Code (DTC) is work in progress. The DTC is not
intended to be an amended version of the Income-tax Act, 1961 but a new code
based on the best international practices that will be compatible with the needs
of a fast developing economy. The Standing Committee on Finance has submitted
its report and we attach great weight to its recommendations. My team in the
Ministry of Finance is examining the recommendations and I intend to work
with the Standing Committee and its Chairman in order to finalise the official
amendments. I shall endeavour to bring the Bill back to this House before the
end of the Budget Session.
Indirect Taxes
155. I shall now deal with indirect taxes.
156. There will be no change in the peak rate of basic customs duty of 10
percent for non-agricultural products. There will also be no change in the normal
rate of excise duty of 12 percent and the normal rate of service tax of 12 percent.
157. I have a few proposals on customs duties.
158. To encourage manufacture of environment-friendly vehicles, I propose
to extend the period of concession now available for specified parts of electric
and hybrid vehicles upto 31.3.2015.
159. Leather and leather goods is a thrust sector for exports. I propose to
reduce the duty on specified machinery for manufacture of leather and leather
goods, including footwear, from 7.5 percent to 5 percent.27
160. To encourage exports, I propose to reduce the duty on pre-forms of
precious and semi-precious stones from 10 percent to 2 percent.
161. Export duty on de-oiled rice bran oil cake has made our exports
uncompetitive. Hence, I propose to withdraw the said duty.
162. Prices of unprocessed ilmenite have gone up several fold in the export
market. Considering the need to conserve our natural resources, I propose to
impose a duty of 10 percent on export of unprocessed ilmenite and 5 percent on
export of upgraded ilmenite.
163. The aircraft manufacture, repair and overhaul (MRO) industry is at a
nascent stage. Encouraging the MRO sector will generate employment besides
other benefits. Hence, I propose to provide certain concessions to the MRO
industry, details of which are in the budget documents.
164. To encourage domestic production of set top boxes as well as value
addition, I propose to increase the duty from 5 percent to 10 percent.
165. In order to give a measure of protection to domestic sericulture, I propose
to increase the duty on raw silk from 5 percent to 15 percent.
166. Steam coal is exempt from customs duty but attracts a concessional CVD
of one percent. Bituminous coal attracts a duty of 5 percent and CVD of 6
percent. Since both kinds of coal are used in thermal power stations, there is
rampant misclassification. I propose to equalise the duties on both kinds of coal
and levy 2 percent customs duty and 2 percent CVD.
167. There is an affluent class in India that consumes imported luxury goods
such as high end motor vehicles, motorcycles, yachts and similar vessels. I am
sure they will not mind paying a little more. Hence, I propose to increase the
duty on such motor vehicles from 75 percent to 100 percent; on motorcycles
with engine capacity of 800cc or more from 60 percent to 75 percent; and on
yachts and similar vessels from 10 percent to 25 percent.
168. The baggage rules permitting eligible passengers to bring jewellery was
last amended in 1991. Gold prices have risen since, and passengers have
complained of harrasment. Hence, I propose to raise the duty-free limit to `50,000
in the case of a male passenger and `100,000 in the case of a female passenger,
subject to the usual conditions.
169. Next, I shall deal with excise duties.
170. The readymade garment industry is in the throes of a crisis. The industry
needs a lifeline. There is a demand to restore the ‘zero excise duty route’ for
cotton and manmade sector (spun yarn) at the yarn, fabric and garment stages. I28
propose to accept the demand. In the case of cotton, there will be zero duty at
the fibre stage also and, in the case of spun yarn, there will be a duty of 12
percent at the fibre stage. The ‘zero excise duty route’ will be in addition to the
CENVAT route now available.
171. I propose to totally exempt handmade carpets and textile floor coverings
of coir or jute from excise duty.
172. As a measure of relief to the ship building industry, I propose to exempt
ships and vessels from excise duty. Consequently, there will be no CVD on
imported ships and vessels.
173. What does a Finance Minister turn to when he requires resources? The
answer is cigarettes. I propose to increase the specific excise duty on cigarettes
by about 18 percent. Similar increases are proposed on cigars, cheroots and
cigarillos.
174. SUVs occupy greater road and parking space and ought to bear a higher
tax. I propose to increase the excise duty on SUVs from 27 percent to 30 percent.
However, the increase will not apply to SUVs registered as taxis.
175. The excise duty rate on marble was fixed in 1996. Keeping in view the
increase in prices of marble, I propose to increase the duty from `30 per sq. mtr
to ` 60 per sq mtr.
176. I propose to levy 4 percent excise duty on silver manufactured from
smelting zinc or lead, to bring the rate on par with the excise duty applicable to
silver obtained from copper ores and concentrates.
177. About 70 percent of imported mobile phones and about 60 percent of
domestically manufactured mobile phones are priced at `2000 or below. Mobile
phones enjoy a concessional excise duty of one percent and I do not propose to
change that in the case of low priced mobile phones. However, on mobile phones
priced at more than `2000, I propose to raise the duty to 6 percent.
178. To reduce valuation disputes, I propose to provide for MRP based
assessment in respect of branded medicaments of Ayurveda, Unani, Siddha,
Homeopathy and bio-chemic systems of medicine. There will be an abatement
of 35 percent.
179. As regards service tax, I have only a few proposals. The negative list
became effective after the last Budget. Stability in the tax regime is important.
Hence, I propose to include only two services which deserve to be in the negative
list. They are vocational courses offered by institutes affiliated to the State Council
of Vocational Training and testing activities in relation to agriculture and
agricultural produce.29
180. Last year, at the request of the film industry, full exemption of service
tax was granted on copyright on cinematography. The industry has now requested
to limit the benefit of exemption to films exhibited in cinema halls. I propose to
accept the request.
181. At present, service tax does not apply to air conditioned restaurants that
do not serve liquor. The distinction is artificial, and I propose to levy service tax
on all air conditioned restaurants.
182. Homes and flats with a carpet area of 2,000 sq.ft. or more or of a value of
`1 crore or more are high-end constructions where the component of ‘service’ is
greater. Hence, I propose to reduce the rate of abatement for this class of buildings
from 75 percent to 70 percent. Existing exemptions from service tax for low
cost housing and single residential units will continue.
183. While there are nearly 17,00,000 registered assessees under service tax,
only about 7,00,000 file returns. Many have simply stopped filing returns. We
cannot go after each of them. I have to motivate them to file returns and pay the
tax dues. Hence, I propose to introduce a one-time scheme called ‘Voluntary
Compliance Encouragement Scheme’. A defaulter may avail of the scheme on
condition that he files a truthful declaration of service tax dues since 1.10.2007
and makes the payment in one or two instalments before prescribed dates. In
such a case, interest, penalty and other consequences will be waived. I hope to
entice a large number of assessees to return to the tax fold. I also hope to collect
a reasonable sum of money.
184. There are a few more decisions which entail small gains or losses of
revenue. They are reflected in the budget documents.
185. My tax proposals on the direct taxes side are estimated to yield `13,300
crore and on the indirect taxes side `4,700 crore.
Goods and Services Tax
186. Hon’ble Members will recall that I had first mentioned the Goods and
Services Tax (GST) in the Budget speech for 2007-08. At that time, it was
thought that GST could be brought into effect from 1.4.2010. Alas, that was not
to be, although all States swear by the benefit of GST. However, my recent
meetings with the Empowered Committee of State Finance Ministers has led me
to believe that the State Governments – or, at least, the overwhelming majority –
are agreed that there is need for a Constitutional amendment; there is need for
State Governments and the Central Government to pass a GST law that will be
drafted by the State Finance Ministers and the GST Council; and there is need
for the Centre to compensate the States for loss due to the reduction in the CST
rate. I hope we can take this consensus forward in the next few months and
bring to this House a draft Bill on the Constitutional amendment and a draft Bill30
on GST. Hope inspires courage. I propose to take the first decisive step by
setting apart, in the Budget, a sum of `9,000 crore towards the first instalment of
the balance of CST compensation. I appeal to the State Finance Ministers to
realise the serious intent of the Government to introduce GST and come forward
to work with the Government and bring about a transformational change in the
tax structure of the country.
Conclusion
187. Madam Speaker, the last day of February is another day in the life of a
nation. We pause today, to reflect on the past and the future, and we shall resume
our work tomorrow. Our work will be seen in our actions. How shall we act? I
turn to my favourite poet, Saint Tiruvalluvar, who said:
“Kalangathu Kanda Vinaikkan Thulangkathu
Thookkang Kadinthu Seyal”
(What clearly eye discerns as right, with steadfast will
And mind unslumbering, that should man fulfil)
188. Any economist will tell us what India can become. We are the tenth
largest economy in the world. We can become the eighth, or perhaps the seventh,
largest by 2017. By 2025, we could become a $ 5 trillion economy, and among
the top five in the world. What we will become depends on us and on the choices
that we make. Swami Vivekananda, whose 150th birth anniversary we celebrate
this year, told the people: “All the strength and succour you want is within yourself.
Therefore, make your own future.”
As a resolute step towards that future, Madam Speaker, I commend the
Budget to the House.
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