Key takeaways from Finance Minister’s ‘Amrit Kaal’ budge speech

News Network
February 1, 2023

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New Delhi, Feb 1: Presenting her fifth annual Budget, Finance Minister Nirmala Sitharaman on Wednesday said that the government is adopting seven priorities to guide India through the Amrit Kaal. Major announcements for taxpayers were also made in the Budget.

"The budget adopts following seven priorities -- inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector," the Finance Minister said. Amrit Kaal is described by the government as the 25-year period culminating in the centenary of India's independence. The finance minister said seven priorities of the budget complement each other.

She said four transformative opportunities can be used in Amrit Kaal for enhancing economic empowerment.

Here are the highlights of the Budget Speech:

* The FM proposed to increase income tax rebate limit from Rs 5 lakh to Rs 7 lakh under the new tax regime

* The new tax rates are 0 to Rs 3 lakhs - nil, Rs 3 to 6 lakhs - 5%, Rs 6 to 9 Lakhs - 10%, Rs 9 to 12 Lakhs - 15%, Rs 12 to 15 Lakhs - 20% and above 15 Lakhs - 30% under the new tax regime

* An individual with annual income of Rs 9 lakh will have to pay only Rs 45,000 as tax as opposed to Rs 60,000 earlier, she said. 

* Outlay for capital spending increased 33% to Rs 10 lakh crore in FY24

* The capex allocation is higher than the Rs 7.5 lakh crore budgeted for in the previous year and the highest on record

* Budget allocations increased to Rs 79,000 crore for affordable housing in FY24 under the PM Awaas Yojana

* Rs 35,000 crore to be provided for energy transition

* The FM proposed a cut in customs duty on lab-grown diamonds

* Incentives to replace old, polluting vehicles used by the central and state governments also proposed by teh government

* Revamped scheme for credit guarantee for small and medium businesses from April 1

* Collateral free credit of Rs 2 lakh crore under revamped scheme to be provided

* Increase in public capex key to crowding in private investments

* Integrated IT portal will be set up for reclaiming unclaimed shares and dividends

* Govt proposes to cap deductions from capital gains on investments in residential houses to Rs 10 cr

* Highest surcharge rate reduced from 37% to 25% in new tax regime

* Taxes on cigarettes hiked by 16%

* Basic customs duty hiked on articles made from gold bars

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News Network
January 15,2025

The US consulate in Bengaluru will hold its ‘site-dedication ceremony’ on January 17, with officials confirming that the location of the upcoming consulate will be disclosed during the event. Sources indicate that the site could be in either the Central Business District or Whitefield.

While the consulate building is under development, visa services may temporarily begin at the JW Marriott hotel, which currently houses the United States Commercial Service (USCS) office.

Bengaluru has long advocated for the establishment of a US consulate, and with its opening, residents of the city and Karnataka will no longer need to travel to other states for their US visa applications.

It was in January of the previous year that External Affairs Minister S. Jaishankar, during his visit to Bengaluru, expressed his intention to urge the US Ambassador to India to establish a consulate in the city. This move follows the announcement during Prime Minister Modi’s June 2023 visit to the US, where it was revealed that two new US consulates would open in Bengaluru and Ahmedabad, and India would set up a mission in Seattle.

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News Network
January 6,2025

Two cases of Human Metapneumovirus (HMPV) were reported in Bengaluru on January 6 - a 3-month-old baby who has been discharged and an 8-month-old who is recovering at a hospital in the Karnataka capital. This marks the first reported cases of HMPV in India.

The infected infants and their families have no recent travel history, ruling out exposure from other regions or countries, the health department said.

HMPV is a respiratory virus that often causes mild symptoms resembling a cold but can lead to other complications, particularly in infants, the elderly, and those with weakened immune systems. The virus can occasionally trigger pneumonia or exacerbate chronic respiratory conditions. Cases typically rise during the winter and early spring.

The Centre announced on Sunday that it is monitoring HMPV and other respiratory viruses, especially following recent reports of increased respiratory illnesses in China. A Joint Monitoring Group (JMG) convened on January 4 to evaluate the situation, with representatives from the World Health Organisation (WHO), National Centre for Disease Control (NCDC), Indian Council of Medical Research (ICMR), and other health organisations participating.

Respiratory illnesses in China align with seasonal variations caused by viruses such as influenza, RSV, and HMPV. Current surveillance data from India does not indicate any unusual surge in respiratory infections, according to the Ministry of Health and Family Welfare.

As a precaution, the Centre has increased laboratory capacity for HMPV testing. The ICMR will monitor HMPV trends throughout the year, alongside other respiratory illnesses such as influenza-like illness (ILI) and severe acute respiratory infections (SARI). A robust network of surveillance systems, including those operated by ICMR and the Integrated Disease Surveillance Programme (IDSP), continues to track respiratory infections across the country.

Hospitals have been advised to strengthen isolation protocols for suspected cases, ensure the availability of essential medicines, and promptly report ILI and SARI cases through the Integrated Health Information Platform (IHIP).

Precautions to Take:

To reduce the risk of HMPV infection, individuals are advised to:

  • Wash hands frequently with soap and water for at least 20 seconds.
  • Avoid close contact with people who have respiratory symptoms.
  • Wear masks in crowded or high-risk areas, especially during seasonal outbreaks.
  • Maintain good indoor ventilation by keeping windows open when possible.
  • Disinfect commonly touched surfaces regularly, such as doorknobs, toys, and tables.
  • Monitor infants, the elderly, and people with chronic illnesses for symptoms like persistent cough or breathing difficulties.
  • Seek prompt medical attention if respiratory symptoms worsen or persist. 

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News Network
January 13,2025

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Riyadh: The Indian Embassy in Riyadh hosted a grand Indian Community Interaction Program at its auditorium in the Diplomatic Quarter, attended by the Honorable Minister for Parliamentary and Minority Affairs, Shri Kiren Rijiju. The event, which commenced at 6 PM (KSA time) brought together a vibrant gathering of Indian community members, Embassy officials and dignitaries.

The Minister was warmly welcomed by the Indian community steering committee with a traditional Himachali cap and shawl, symbolizing Indian cultural richness and diversity. The Honorable Indian Ambassador to Saudi Arabia, Dr. Suhel Ajaz Khan, shared the dais. 

In his address, Shri Kiran Rijiju emphasized the growing strategic partnership between India and Saudi Arabia, describing it as critical for fostering mutual growth and supporting the well-being of the Indian diaspora. He remarked, “India and Saudi Arabia share ancient ties, which have evolved into a robust partnership spanning trade, education, technology and culture.”

“The Kingdom is not only home to 2.6 million Indians but also a key ally in advancing global stability and prosperity,” he said. With the Indian diaspora in Saudi Arabia being the second-largest globally, Shri Rijiju equated their number to the population of many nations.

Shri Rijiju underscored the shared commitment to strengthening cultural and economic links, which directly benefit the Indian community in Saudi Arabia and their families in India. 

He captivated the audience with his thoughtful address, expressing gratitude to the Indian diaspora for their invaluable contributions. Reflecting on his earlier visits to the Kingdom as a Member of Parliament and individual basis, he emphasized the significance of this trip as Minister for Parliamentary and Minority Affairs and it’s going to be helpful to the people, especially Hajjis and all Indian diasporas, who are living in the Kingdom. 

Hajj 2025 Preparations & Increase in Hajj Quota

A major highlight of Shri Rijiju’s address was the Government of India’s efforts to improve the Hajj experience for Indian pilgrims. He announced an increase in the Hajj quota for 2025 and introduced new guidelines aimed at ensuring safety, efficiency, and comfort, especially for elderly pilgrims, women and others. 

The Minister emphasized India’s collaboration with Saudi authorities to streamline travel, accommodation, and healthcare facilities for pilgrims, ensuring a hassle-free and spiritually fulfilling experience. He reiterated the government’s commitment to safeguarding the interests of Hajjis, reflecting India’s proactive approach to catering to the needs of its citizens abroad.

Rising Global Stature of India

Shri Rijiju also emphasized and spoke about India’s emergence as a global power. “Unlike a decade ago, India today is a center of global influence with strong ties to almost every nation; India is becoming a global center of power, linked to almost every nation,” he said. The world’s perception of India and Indians has transformed positively, and every Indian can now feel a profound sense of pride,” he stated.

Commendation for Embassy and Cultural Performances

The minister praised the Indian Embassy in Riyadh and the Consulate in Jeddah for their exceptional works including managing one of the busiest workloads among Indian missions globally, such as issuing around 600 passports daily. He also praised their active involvement in promoting bilateral relations.

The evening featured cultural performances by students from Indian International Schools in Riyadh. Classical dances, along with a special performance marking Vishwa Hindi Divas, captivated the audience. Shri Rijiju applauded the students for showcasing the richness of India’s linguistic and cultural diversity, emphasizing equal respect for all Indian languages such as Tamil, Malayalam, Kannada, Telugu, Marati, Rasthani, Manipuri, Dogra etc. 

The event concluded with the Minister distributing prizes to winners of various competitions, leaving attendees inspired and proud of their shared cultural roots. Dinesh Setia, First Secretary at the Indian Embassy, ensured the program’s seamless flow as the master of ceremonies.

The Indian community expressed gratitude to Shri Rijiju for his inspiring vision and praised the Embassy for hosting a memorable evening.

(Inputs from P.A. Hameed Padubidri, Riyadh)

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