FRIDAY 02 FEBRUARY 2024 www.thestatesman.com Pages 12 |` 5.00|LC Twitter.com/thestatesman Facebook.com/thestatesman INDIA’S NATIONAL NEWSPAPER SINCE 1818 KOLKATA | NEW DELHI | SILIGURI | BHUBANESWAR P6 SENSEX 71,645.30106.81 WEATHER PARTLY CLOUDY SKY. MODERATE TO DENSE FOG IN THE MORNING. THE MAXIMUM AND MINIMUM TEMPERATURES WOULD BE AROUND 20 AND 09 DEGREES CELSIUS RESPECTIVELY. RAINFALL: NIL RELATIVE HUMIDITY Max. 100 % TEMPERATURE Max: 18.6 °C (-4) SUN RISES 7:09 hrs MOON RISES 00:44 hrs ‘EXPLORING TRANSFER OF PAYMENTS BANK BUSINESS’ BRS SUPREMO TAKES OATH AS GAJWEL MLA A PLAN FOR AFRICA P4 NIFTY 21,697.4528.25 GOLD 63,440170 ` vs $ 82.97 Next-Gen reforms on the way: Sitharaman Union Finance Minister presents Interim Budget 2024-25; no tax changes THUMBNAILS Farmers listen to the live broadcast of the Union Interim Budget 2024 in South Dinajpur ANI district in West Bengal on Thursday. Cabinet approves sugar subsidy scheme for AAY families under PDS: The Union Cabinet, chaired by Prime Minister Narender Modi, on Thursday approved extension of the scheme of sugar subsidy for Antyodya Anna Yojna (AAY) families distributed through the Public Distribution Scheme (PDS) for two more years i.e. 31 March, 2026. Indicating the government's commitment to the wellbeing of citizens and ensuring sweetness of platter of the poorest of the poor in the country, the scheme facilitates access of sugar to the poorest of the poor and adds energy to their diet so that their health improves. SILVER 76,300200 BRENT CRUDE (IN $) 80.140.49 Inclusive, innovative budget that will empower all pillars of developed India, says PM STATESMAN NEWS SERVICE NEW DELHI, 1 FEBRUARY F inance Minister Nirmala Sitharaman on Thursday presented the Union Interim Budget, 2024-25 in the Lok Sabha, proposing no changes in direct or indirect taxes, and expressing confidence that the NDA government, based on its stupendous work, will be “blessed again by the people with a resounding mandate” in this year’s general elections. The Interim Budget makes provisions for financial resources to meet government expenditure till the end of the general elections. Amidst thumping of desks, Ms Sitharaman announced: “I propose to retain the same tax rates for direct and indirect taxes including import duties." As per the First Advance Estimates of National Income of FY 2023-24, presented along with the finance minister’s speech, India’s real GDP is projected to grow at 7.3 per cent. The finance minister said when the Narendra Modi government took office in 2014, the country faced enormous challenges. “With ‘Sabka Saath, Sabka Vikas’ as its ‘mantra’, the government overcame those challenges in right earnest,” introducing structural reforms, Ms Sithara- man said. The government will come out with a White Paper on how the challenges were met. The finance minister introduced the Finance Bill, 2024 and said she will be seeking ‘vote on account’ approval of Parliament through an Appropriation Bill for a part of the financial year 2024-25. She said as the fruits of development reached peo- ple, the government got a bigger mandate in 2019 for its second term. Development programmes in the last 10 years targeted each and every household and individual, through ‘housing for all’, ‘har ghar jal’, electricity for all, cooking gas for all, bank accounts and financial services for all, in record time, she said. The trinity of demog- Record allocation of over `6.21L cr for defence STATESMAN NEWS SERVICE NEW DELHI, 1 FEBRUARY The Budgetary allocation to Defence for FY 24-25 is higher by approximately one lakh crore (18.35 pc) over the allocation for FY 2022-23 and 4.72 pc more than the allocation of FY 23-24. tional preparedness, 30.68 per cent for Pay and allowances, 22.72 per cent for defence pensions and 4.11 per cent for civil organisations under the MoD. Budgetary allocation for capital expenditure in Defence for FY 2425 is Rs 1.72 lakh crore which is 20.33 per cent higher than the actual expenditure of FY 22-23 and 9.40 per cent more than the revised allocation of FY 23-24. The allocation is in line with the Long Term Integrated Perspective Plan (LTIPP) of the three Services aimed to fill the critical capability gaps through modernisation of the Armed Forces by materialising some big ticket acquisitions in FY 2024-25. The enhanced budgetary allocation will facilitate in equipping the armed forces with state-of-the-art, niche technology lethal weapons, fighter aircraft, ships, platforms, unmanned aerial vehicles, drones, specialist vehicles etc. Planned modernisation of the existing Su-30 fleet along with additional procurement of aircraft, acquisition of advanced engines for existing MiG-29, acquisition of transport aircraft C-295 and missile systems will be funded out of the budget being allocated. Apart from this, to take the initiative of ‘Make in India’ further the LCA MK–I IOC/FOC configuration will be additionally funded to ensure state-of-the-art technology in domestic production. The Indian Navy projects such as acquisition of deck-based fighter aircraft, submarines, next generation survey vessels etc. will all materialise through this allocation. The sizeable allocation under capital is centred around promoting ‘Aatmanirbharta’ in Defence. A large portion of the allocation will be utilised for procurement through domestic sources to provide domestically manufactured next generation weapon system to the country which will have a multiplier effect on the GDP, create employment, ensure capital formation and provide a stimulus to the domestic economy. raphy, democracy and diversity backed by ‘Sabka Prayas’ has the potential to fulfil aspirations of every Indian, she said. Guided by the principle ‘Reform, Perform, and Transform’, the government will take up next generation reforms, and build consensus with the states and stakeholders for effective implementation, she said. Relief of up to 10m taxpayers from petty tax claims AGENCIES RANCHI, 1 FEBRUARY JMM legislative party leader Champai Soren along with 43 legislators after their meeting with State Governor CP Radhakrishnan staking a claim to form the government in the state. ANI expect that the number will reach 46-47 so there is no problem. Our ‘gathbandhan’ is very strong," he added. Mr Soren met governor CP Radhakrishnan on Thursday evening, along with 43 MLAs of JMM, showcasing sufficient support to form a government in the 81-member assembly state. Earlier in the day, there were reports that the JMMalliance had book two chartered aircraft to shift the alliance legislators to Hyderabad “to avert any pressure on them”, meaning any attempt to poach them by the Opposition BJP. In the 81-member Jharkhand Assembly, the Jharkhand Mukti Morcha (JMM)-led alliance, which includes the Congress and RJD, has 47 MLAs, including 29 of JMM, 17 of Congress, and 1 of RJD. The BJP has 25 members and the AJSU party has three MLAs. The NCP and CPI (ML)-L have one member each, apart from 3 Independents. Meanwhile, JMM leader and former chief minister Asserting that the Interim Budget presented by Finance Minister Nirmala Sitharam carries the confidence of continuity, Prime Minister Narendra Modi on Thursday said it would empower all pillars of developed India: the youth, women, and farmers. Reacting to the budget proposals, the prime minister said it's not a mere interim budget but an inclusive and innovative budget. Commending the finance minister for her vision, the PM stated: “Nirmala Ji's budget is a budget for building the future of the country. This budget carries the guarantee of strengthening the foundation of Viksit Bharat by 2047.” He said this budget is a reflection of the aspirations of Young India and highlighted two significant decisions taken in it: a fund of Rs. 1 lakh crore for research and innovation and the extension of tax exemptions for startups. The PM noted that the total expenditure has seen a historic increase to Rs 11,11,111 crore in this budget while keeping the fiscal deficit under control. “In economists’ parlance, this is a kind of sweet spot,” he said. He added that the budget aims to create millions of new employment opportunities for the youth along with the creation of modern infrastructure of the 21st Nirmala Ji's budget is a budget for building the future of the country. This budget carries the guarantee of strengthening the foundation of Viksit Bharat by 2047..We set a big goal, achieve it, and then set an even bigger goal for ourselves.. NARENDRA MODI PRIME MINISTER century in India. He also spoke about the announcement to manufacture 40,000 modern bogies of Vande Bharat Standard and install them in general passenger trains which will further heighten the comfort and travel experience of crores of passengers on different rail routes of the country. “We set a big goal, achieve it, and then set an even bigger goal for ourselves,” Mr Modi said. Highlighting the government's efforts for the welfare of the poor and middle class, he informed about the construction of over four crore houses in villages and cities and increasing the target to build two crore more houses. Emphasising the empowerment of women, he said, "Our goal was to make two crore 'Lakhpatis' among women. Now, this goal has been increased to make 3 crore 'Lakhpatis'." He praised the Ayushman Bharat Yojana for its significant assistance to the poor, extending its benefits to Anganwadi and ASHA workers. He underlined the government’s emphasis on empowering the poor and middle class by creating new opportunities for them in this budget. He mentioned the Roof Top Solar Campaign where one crore families will avail free electricity, while also earning an income of Rs 15,000 to Rs 18,000 per year by selling excess electricity to the government. PMModi mentioned the income tax remission scheme announced today that will provide relief to about one crore citizens belonging to the middle class. WHITE LANDSCAPE STATESMAN NEWS SERVICE NEW DELHI, 1 FEBRUARY Providing relief to taxpayers grappling with outstanding tax demands, Finance Minister Nirmala Sitharaman on Thursday announced a resolution scheme for disputed direct tax demand dating back to even 1962. In line with the government’s vision to improve ease of living and ease of doing business, and to provide relief to a large number of petty, non-verified, nonreconciled or disputed direct tax demands, many of them dating as far back as the year 1962, Ms Sitharaman proposed to withdraw such outstanding direct tax demands up to Rs 25,000 pertaining to the period up to financial year 2009-10 and up to Rs 10,000 for financial years 2010-11 to 2014-15. (Details on Page 8) Champai Soren meets J’khand Guv, stakes claim to form govt Jharkhand Mukti Morcha (JMM) legislative party leader Champai Soren along with 43 legislators met Jharkhand Governor CP Radhakrishnan at the Raj Bhavan on Thursday, staking a claim to form the government in the state. “We have demanded from the Governor that the process to start the formation of the new government should begin. The Governor has also assured us that the process will begin soon," Mr Soren told reporters after the meeting with the governor. “Currently, we have submitted the report with 43 MLAs in our support. We P12 NEW DELHI, 1 FEBRUARY Min: 12.3 °C (+4) SUN SETS 18:01 hrs MOON SETS 11:08 hrs A record allocation of over Rs 6.21 lakh crore has been made for the defence sector in the Interim Budget 2024-25 presented by Union Finance Minister Nirmala Sitharaman in Parliament on Thursday. The Defence Budget has touched Rs 6,21,540.85 crore in the Financial Year 2024-25. This comes out to be 13.04 per cent of the total Interim Budget. The Ministry of Defence (MoD) continues to receive the highest allocation among the ministries. The budgetary allocation to Defence for FY 24-25 is higher by approximately one lakh crore (18.35 per cent) over the allocation for FY 2022-23 and 4.72 per cent more than allocation of FY 23-24. Of this, a major share of 27.67 per cent goes to capital expenditure, 14.82 per cent for revenue expenditure on sustenance and opera- P8 DEEPAK RAZDAN Min. 80 % ROHIT & CO READY TO TURN THE TIDE IN ‘CITY OF DESTINY’ Hemant Soren was sent to judicial custody for a day by a special PMLA court in Ranchi, in connection with an alleged land scam case. Mr Soren was on Wednesday night arrested by the Directorate of Enforcement (ED) after six hours of questioning in the money laundering case linked to the alleged land scam. The Directorate of Enforcement had sought 10-day remand of the former CM but the order was reserved. The court has listed the next hearing in the case for tomorrow. According to the ED, Mr Soren was questioned as a part of the probe into the "huge racket of illegal change of ownership of land by the mafia". Kedarnath temple covered in snow after fresh snowfall, in Rudraprayag on Thursday. ANI Biden administration approves 4bn dollars arms package sale to India AGENCIES WASHINGTON, 1 FEBRUARY The Biden Administration has today notified the US Congress of its intent to sell nearly 4 billion dollars worth of arms comprising mainly of the MQ 9 B Drones armed with Hellfire missiles. The Defence Security Cooperation Agency, which is an agency within the US Department of Defence, said in a press release on Thursday that the sale helps in strengthening the US-Indian strategic relationship. It added that New Delhi continues to be an "important force for political stability, peace, and economic progress in the Indo-Pacific and South Asia region." "The US State Department has made a determination approving a possible Foreign Military Sale to the Government of India of MQ-9B Remotely Piloted Aircraft and related equipment for an estimated cost of $3.99 billion. The Defense Security Cooperation Agency delivered the required certification notifying Congress of this possible sale today," the Defence Security Cooperation Agency said in a statement. According to the statement, the Indian government has requested to buy 31 MQ9B Sky Guardian aircraft; 161 Embedded Global Positioning and Inertial Navigation Systems (EGIs); 35 L3 Rio Grande Communications Intelligence Sensor Suites; 170 AGM-114R Hellfire missiles; 16 M36E9 Hellfire Captive Air Training Missiles (CATM); 310 GBU-39B/B Laser Small Diameter Bombs (LSDB); and eight GBU-39B/B LSDB Guided Test Vehicles (GTVs) with live fuzes. The proposed sale will support the foreign policy and national security objectives of the United States by helping to strengthen the US-Indian strategic relationship and to improve the security of a 'major defense partner' which continues to be an "important force for political stability, peace, and economic progress in the Indo-Pacific and South Asia region," the release stated. It further added that the proposed sale will improve India's capability to meet "current and future threats" by enabling unmanned surveillance and reconnaissance patrols in sea lanes of operation while adding that India has demonstrated a commitment to modernizing its military and will have no difficulty absorbing these articles and services into its armed forces.