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Tag: Arun Jaitley

  • Issue of freebies needs to be determined by elected representatives, not judiciary: Venkaiah Naidu 

    By PTI

    NEW DELHI: Joining the controversy on freebies, former Vice President M Venkaiah Naidu stated on Wednesday the difficulty needs to be determined by elected representatives and never by the Supreme Court or judiciary.

    A debate has began within the nation over freebies being given by some state governments because it may have critical implications on the financial system.

    The former Vice President stated lately a number of points like anti-defection and freebies are being mentioned and folks taking the matter to the courts.

    “(For) Interpretation of law one can go to court but what law needs to be done, what policy has to be formulated that is in the domain of Parliament and political parties,” he stated.

    ALSO READ | SC asks Centre why cannot it name for all social gathering conferences to deliberate on freebies 

    Naidu harassed that it’s not for the Supreme Court or the judiciary as these points needs to be determined by the folks in energy as a result of folks elect them.

    “I do have a strong opinion about freebies because what is freebie first of all has to be defined. What are the finances of states and centre has to be kept in mind and promises made and performances,” stated the previous Vice President.

    He stated such points needs to be broadly debated earlier than reaching any conclusion.

    “You don’t have budgetary provision, you don’t have sound economy but you want to give left and right. That’s why the three-line mantra given by Prime Minister Narendra Modi — Reform, Perform and Transform — is very very important,” Naidu added.

    ALSO READ | ‘Wisdom doesn’t belong to just one social gathering’: SC raps DMK whereas listening to freebies case

    Naidu was talking on the launch ebook ‘A New India’ by Arun Jaitley. The ebook is a compilation of chosen writings between 2014-2019 by the late Arun Jaitley. Jaitley, the primary finance minister of the Modi authorities, died on August 24, 2019, on the age of 66 years.

    NEW DELHI: Joining the controversy on freebies, former Vice President M Venkaiah Naidu stated on Wednesday the difficulty needs to be determined by elected representatives and never by the Supreme Court or judiciary.

    A debate has began within the nation over freebies being given by some state governments because it may have critical implications on the financial system.

    The former Vice President stated lately a number of points like anti-defection and freebies are being mentioned and folks taking the matter to the courts.

    “(For) Interpretation of law one can go to court but what law needs to be done, what policy has to be formulated that is in the domain of Parliament and political parties,” he stated.

    ALSO READ | SC asks Centre why cannot it name for all social gathering conferences to deliberate on freebies 

    Naidu harassed that it’s not for the Supreme Court or the judiciary as these points needs to be determined by the folks in energy as a result of folks elect them.

    “I do have a strong opinion about freebies because what is freebie first of all has to be defined. What are the finances of states and centre has to be kept in mind and promises made and performances,” stated the previous Vice President.

    He stated such points needs to be broadly debated earlier than reaching any conclusion.

    “You don’t have budgetary provision, you don’t have sound economy but you want to give left and right. That’s why the three-line mantra given by Prime Minister Narendra Modi — Reform, Perform and Transform — is very very important,” Naidu added.

    ALSO READ | ‘Wisdom doesn’t belong to just one social gathering’: SC raps DMK whereas listening to freebies case

    Naidu was talking on the launch ebook ‘A New India’ by Arun Jaitley. The ebook is a compilation of chosen writings between 2014-2019 by the late Arun Jaitley. Jaitley, the primary finance minister of the Modi authorities, died on August 24, 2019, on the age of 66 years.

  • Gilts set to go international: Overseas buyers get one other channel

    The authorities expects to begin commerce and settlement of debt securities on the worldwide Euroclear platform, a transfer that may pave the best way for inclusion of G-sec in international bond indices anytime quickly. “We have made the arrangements, most of the bond platform requirements have been met. This should open another channel to attract overseas capital in Indian debt markets,” a senior Finance Ministry official mentioned on Wednesday.
    “Taxation issues including the exemption from capital gains on the international transactions have been amicably addressed. We expect that at their next review of index constituents, entities like JP Morgan and Barclays should be able to include Indian gilts in their indices, giving access to investors to participate in our market,” the official mentioned.
    The plan to listing a set of presidency securities in international bond indices has been within the works for a few years now. Then Finance Minister Arun Jaitley, within the Union Budget 2014-15, proposed permitting worldwide settlement of Indian debt securities, because it was anticipated to end in a discount in bond yields and a rise in liquidity in home bond markets.
    The Budget 2020-21 had proposed to take away restrict on international funding in some authorities securities, as a primary step in direction of their inclusion in international bond indices. The Reserve Bank of India had on March 30 notified a totally accessible route for funding by non-residents in authorities securities with none ceilings.
    The central financial institution, in session with the Finance Ministry, is anticipated to place caps on the quantity of particular securities that shall be allowed to be traded on the Euroclear platform underneath the absolutely accessible route. With fiscal deficit rising sharply after Covid hit the financial system, extra sources of funding into authorities debt market are anticipated to help the Centre’s elevated borrowing programme of greater than Rs 12 lakh crore yearly.

    ExplainedFramework for worldwide settlementThe Financial Markets Regulation Department of the RBI, which is entrusted with the event and regulation and surveillance of G-secs market, has created a framework for worldwide settlement of gilts. This would enable abroad buyers to place cash in authorities debt papers with out the necessity to register as FPIs.

    Last month, the RBI unveiled a scheme permitting home retail buyers to straight take part within the G-sec market. They can open and keep a ‘Retail Direct Gilt Account’ with the RBI by means of a portal, which can even present entry to major issuance of G-Secs and the secondary market as effectively.
    Inclusion in bond indices, together with these measures, are geared toward supporting the federal government’s borrowing programme. The Financial Markets Regulation Department of the RBI, which is entrusted with the event and regulation and surveillance of G-secs market, has created a framework for worldwide settlement of gilts. This would enable abroad buyers to place cash in authorities debt papers with out the necessity to register as FPIs.

    “The Department initiated the process of international settlement of Indian government securities through International Central Securities Depository (ICSD) in consultation with the Government of India, ICSDs and other stakeholders. Clients of ICSDs would be able to invest in Indian G-sec without registering themselves as foreign portfolio investors (FPIs),” the RBI mentioned in its annual report launched on May 27.

  • E-way invoice built-in with FASTag, RFID

    In a transfer which is able to assist curb tax evasion, GST authorities will now be capable to monitor real-time information of economic automobile (CV) motion on highways by integration of the e-way invoice (EWB) system with FASTag and RFID.
    Under the Goods and Services Tax (GST) regime, EWBs are necessary for inter-state transportation of products valued over Rs 50,000 from April 2018, with the exemption to treasured objects corresponding to gold. On a median, 25 lakh items automobile actions from greater than 800 tolls are reported every day to the e-way invoice system.
    The integration of e-way invoice, RFID and FASTag will allow tax officers to undertake dwell vigilance in respect of EWB compliances by companies and can help in stopping income leakage by real-time identification of circumstances of recycling and/or non-generation of EWBs.
    Tax officers can now entry stories on automobiles which have handed the chosen tolls with out EWBs up to now jiffy. Also, automobiles carrying essential commodities particular to the state and having handed the chosen toll might be seen. Any suspicious automobiles and automobiles of EWBs generated by suspicious taxpayer GSTINs, which have handed the chosen toll on a close to real-time foundation, may also be seen on this report.

    The officers can use these stories whereas conducting vigilance and make the vigilance exercise more practical. Also, the officers of the audit and enforcement wing can use these stories to establish fraudulent transactions like invoice buying and selling, recycling of EWBs.

  • Arun Jaitley’s statue unveiled at Feroz Shah Kotla stadium

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    Image Source : PTI Union Home Minister Amit Shah unveiled Jaitley’s life-size statue.
    A controversial build-up however, the Delhi and District Cricket Association (DDCA) on Monday unveiled the statue of its former president Arun Jaitley at its premises within the reminiscence of the late administrator and political determine

    Union Home Minister Amit Shah unveiled Jaitley’s life-size statue, ready by 96-year-old famend sculptor Ram Sutar, the person behind the making of the enduring Statue of Unity in Gujarat.

    BCCI President and former India captain Sourav Ganguly, India opener Shikhar Dhawan, ex India opener Gautam Gambhir, who can also be a BJP MP from Delhi, BCCI Vice President Rajeev Shukla and Union Minister Hardeep Puri attended the revealing ceremony together with quite a few DDCA officers.

    “Arun was like an elder brother to me. He was known for his sportsmanship spirit in political circle. He remained aggressive in his speeches but never lowered the dignity of the Parliament,” Shah mentioned in his tribute to Jaitley, who remained DDCA President for 13 years.

    “Arun always put his own interest at the back, never sought publicity and rose during the Emergency days when he spent 19 months in jail. His political journey started then. He was multi-talented and fulfilled a range of responsibilities.”

    Ganguly mentioned Jaitley’s contribution was immense within the improvement of cricket in Delhi, although the DDCA has been in “turmoil” for a while.

    “When we play and get 100, it gets recognition but lot of people work behind the scene and help the cricketers. He was a cricketer’s person. that is the role of an administrator,” he mentioned.

    “I remember a phone call (he) made during the 2003 World Cup in South Africa. We had lost the first game and the whole country went berserk but he (Jaitley) said that association supports you and you play well. These small things matter, he was a great human being,” mentioned Ganguly.

    “This is a remarkably talented state which has produced so many players, Virat Kohli, Ishant Sharma, Rishabh Pant now and many in the past. A settled DDCA is good thing for Indian cricket and hopefully they can do it.”

    Gambhir mentioned the set up of Jailtely’s statue is an ideal tribute to him.

    “We won the Ranji trophy during his tenure and the stadium was also built. Honesty, (being) intellectual and absolute transparency are important for any administrator and he had that,” mentioned Gambhir.

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  • Amit Shah unveils Arun Jaitley’s statue at DDCA premises

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    A controversial build-up however, the Delhi and District Cricket Association (DDCA) on Monday unveiled the statue of its former president Arun Jaitley at its premises within the reminiscence of the late administrator and political determine.
    Union Home Minister Amit Shah unveiled Jaitley’s life-size statue, ready by 96-year-old famend sculptor Ram Sutar, the person behind the making of the long-lasting Statue of Unity in Gujarat.
    Former India cricketer Bishen Singh Bedi had severely criticised the DDCA for selecting to put in the statue of an administrator as a substitute of an inspirational cricketer and even demanded that his identify be faraway from one the stands on the Feroze Shah Kotla floor.
    BCCI President and former India captain Sourav Ganguly, India opener Shikhar Dhawan, ex India opener Gautam Gambhir, who can also be a BJP MP from Delhi, BCCI Vice President Rajeev Shukla and Union Minister Hardeep Puri attended the disclosing ceremony together with various DDCA officers.
    “Arun was like an elder brother to me. He was known for his sportsmanship spirit in political circle. He remained aggressive in his speeches but never lowered the dignity of the Parliament,” Shah stated in his tribute to Jaitley, who remained DDCA President for 13 years.
    “Arun always put his own interest at the back, never sought publicity and rose during the Emergency days when he spent 19 months in jail. His political journey started then. He was multi-talented and fulfilled a range of responsibilities.”
    Ganguly stated Jaitley’s contribution was immense within the improvement of cricket in Delhi, although the DDCA has been in “turmoil” for a while.
    “When we play and get 100, it gets recognition but lot of people work behind the scene and help the cricketers. He was a cricketer’s person. that is the role of an administrator,” he stated.
    “I remember a phone call (he) made during the 2003 World Cup in South Africa. We had lost the first game and the whole country went berserk but he (Jaitley) said that association supports you and you play well. These small things matter, he was a great human being,” stated Ganguly.
    “This is a remarkably talented state which has produced so many players, Virat Kohli, Ishant Sharma, Rishabh Pant now and many in the past. A settled DDCA is good thing for Indian cricket and hopefully they can do it.”
    Gambhir stated the set up of Jailtely’s statue is an ideal tribute to him.
    “We won the Ranji trophy during his tenure and the stadium was also built. Honesty, (being) intellectual and absolute transparency are important for any administrator and he had that,” stated Gambhir.

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  • PM Modi, different high BJP leaders pay tributes to Jaitley

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    Image Source : PTI PM Modi, different high BJP leaders pay tributes to Jaitley Prime Minister Narendra Modi on Monday paid tributes to his former cabinet colleague and late BJP chief Arun Jaitley on his start anniversary, and mentioned his heat character, mind, authorized acumen and wit are missed by all these he intently interacted with. Other BJP leaders additionally remembered the previous finance minister who for a few years remained probably the most articulate get together voice on a gamut of points and was thought-about one in every of its sharpest political minds. Born in 1952, Jaitley died in August final 12 months. “Remembering my friend, Arun Jaitley Ji on his birth anniversary. His warm personality, intellect, legal acumen and wit are missed by all those he closely interacted with. He worked tirelessly for India’s progress,” Modi tweeted.á In his tributes, Home Minister Amit Shah saidáJaitley was an excellent parliamentarian whose data and insights had only a few parallels. “He made a lasting contribution to Indian polity and served the nation with great passion and devotion. My heartfelt tributes,” he mentioned. BJP president J P Nadda mentioned Jaitley shall be remembered as an articulate orator and succesful strategist. Defence Minister Rajnath Singh mentioned remembering Jaitley’s contribution to India’s public life and his position in strengthening the get together will at all times be remembered.  ALSO READ | Nation remembers Arun Jaitley on his first demise anniversary; ‘Miss my pal’, says PM Modi Latest India News

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  • IAS Subhash Garg disclosed on resignation case: This decision had to be taken because of the minister

    The Finance Secretary had to resign because of the Union Minister. Former Union Finance Secretary Subhash Chandra Garg has made this big disclosure on the sudden resignation from the Ministry of Finance. He said that he did not have good relations with Finance Minister Nirmala Sitharaman, and that is why he resigned from the post before completion of his term and took VRS ie voluntary retirement. Let us tell you here that Subhash Chandra Garg was transferred from Ministry of Finance to Ministry of Power in July 2019, after which he applied for Voluntary Retirement (VRS) and was relieved on 31 October 2019. Earlier, Subhash Chandra Garg had a good relationship with Finance Minister Arun Jaitley, and Garg has also praised him in his blog. However, he could not maintain the same coordination with the new finance minister. Garg wrote in the blog, “It became clear long ago that it was going to be very difficult to work with her… She was prejudiced towards me. She was not comfortable working with me.”