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 BRS SUPREMO TAKES OATH AS GAJWEL MLA A PLAN FOR AFRICA RBI BAN: PAYTM BANK EXPECTS `300-500 CR IMPACT ON EBITDA P6 SENSEX 71,645.30106.81 WEATHER Generally cloudy sky. Light rain is very likely to occur. Maximum and minimum temperatures likely to be around 24 °C and 20 °C respectively. RAINFALL: Trace RELATIVE HUMIDITY P8 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 Max. 90 % Min. 66 % Max: 26.6°C (0) SUN RISES 06:16 hrs MOON RISES 22:55 hrs Min: 21.3°C (+6) SUN SETS 17:24 hrs MOON SETS 09:58 hrs TEMPERATURE P4 NIFTY 21,697.4528.25 New Moon on 10 February THUMBNAILS 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 DEEPAK RAZDAN NEW DELHI, 1 FEBRUARY 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 F Farmers listen to the live broadcast of the Union Interim Budget 2024 in South Dinajpur on Thursday.  ANI 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. Under the scheme, the Centre gives subsidies of Rs.18.50 per kg per month of sugar to AAY families of participating states. 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 Sitharaman 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 people, 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’, electric- Record allocation of over `6.21 l cr for Defence STATESMAN NEWS SERVICE NEW DELHI, 1 FEBRUARY 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- 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 24-25 is Rs 1.72 lakh crore which is 20.33 per cent higher than the actual expenditure of FY 2223 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. ity for all, cooking gas for all, bank accounts and financial services for all, in record time, she said. The trinity of demography, 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 to upto 10 mn taxpayers from petty tax claims 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 AGENCIES RANCHI, 1 FEBRUARY 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 sub- 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 mitted the report with 43 MLAs in our support. We expect that the number will reach 46-47 so there is no prob- lem. 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 JMM-alliance 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 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. CMYK ROHIT & CO READY TO TURN THE TIDE IN ‘CITY OF DESTINY’ P12 SILVER 76,300200 BRENT CRUDE (IN $) 80.140.49 BJP arresting Opp leaders to secure victory in LS polls: CM BISWABRATA GOSWAMI SANTIPUR, 1 FEBRUARY Chief Minister Mamata Banerjee, addressing a programme at Santipur in Nadia, on Thursday accused the Bharatiya Janata Party (BJP) of resorting to tactics of imprisoning opposition leaders to secure victory in the upcoming general elections. This comes in the wake of her Jharkhand counterpart, Hemant Soren, being arrested by the Enforcement Directorate (ED) in connection with an alleged land scam case. Miss Banerjee asserted her resilience in the face of such pressure, declaring that even if she were incarcerated, she would emerge steadfast. “BJP is putting everyone in jail only to win the election," she proclaimed, echoing sentiments of political persecution. Miss Banerjee lamented the rejection of her party’s seatsharing proposal for the Lok Sabha elections by the Congress, which is an INDIA bloc partner. She accused the grand old patrty of aligning with the CPI-M, which will aid the BJP's electoral prospects. "We desired an alliance, but the Congress did not agree. They have joined forces with the CPI-M to assist the BJP in the elections," she asserted, iterating her party's decision to contest the elections independently. Miss Banerjee emphasised her commitment to the welfare of the people, promising to prioritise their interests over political alliances. She likened the transient promises of the BJP to the seasonal arrival of cuckoos in spring, contrasting it with her party's year-round dedication to serving the populace. Addressing the gathering, she expressed confidence in forming the government in Delhi with the support of the people. “Trinamul Congress is strong enough to fight alone. If I am here and you all support me, I assure you that we will form the government in Delhi," she stated. "They (BJP) come before the election like cuckoos in spring and propose to do many things for you, but after the election, they leave you," she remarked, taking aim at the BJP's track record. "We stay with you 365 days in a year, so whom would you choose in the election," she asked, urging the electorate to stand by those who demonstrate unwavering commitment. The comments come amidst heightened political activity as parties gear up for the impending polls. The TMC's decision to go solo reflects its confidence in its organisational strength and popular support in the state. She reaffirmed her party's determination to fight alone in Bengal, distancing herself from alliances that do not align with her vision, declaring: “We will win Delhi. Bengal will show the way." During the event, Miss Banerjee inaugurated numerous developmental projects worth Rs 753 crore, aimed at improving infrastructure and healthcare facilities in the state. She assured the gathered crowd of the tangible benefits these projects would bring to the populace, emphasising her administration's commitment to inclusive growth. Miss Banerjee again attacked the Border Security Force (BSF), alleging overreach in distributing innerline cards to residents in border areas. She instructed local authorities to take charge of such distribution, asserting BSF's mandate was solely border security. Towards the end of her address, Miss Banerjee urged those affected by non-payment of funds under major schemes to join her sit-in demonstration in Kolkata starting from 2 February. She reiterated her solidarity with the people and urged them to stand together in demanding their rights.