Ahead of the Union Budget, FY23 Growth Projected at 8-8.5% by Economic Survey
Finance Minister Nirmala Sitharaman is expected to present the Economic Survey 2021-22 on Monday.
advertisement
Finance Minister Nirmala Sitharaman tabled the Economic Survey 2021-22 in the Lok Sabha on Monday, 31 January. India will see a growth of 8 percent to 8.5 percent for the coming fiscal year that starts in April, as per the report.
The first leg of the Budget Session of the Parliament began on Monday, with the president's address. Prime Minister Narendra Modi, who appealed to MPs to keep politics aside during the Budget Session, also attended the address.
Both the Houses have been adjourned till Tuesday.
Amid heightened political tensions in the pre-election season, the issues of Chinese infringements at the border, farmer distress, COVID-19, and Pegasus spyware are likely to be raised by the Opposition during the session.
The Union Budget will be tabled by Finance Minister Nirmala Sitharaman on Tuesday, 1 February
The first leg of the Budget Session will finish on 11 February. The second part of the session is scheduled for 14 March-8 April. Standing committees will evaluate the budgetary allocations in the recess
Due to the prevailing COVID-19 outbreak, the Rajya Sabha will sit from 10 am to 3 pm, while the Lok Sabha will sit from 4 pm to 9 pm
There will be no Zero Hour and Question Hour in both Houses of Parliament during the first two days of the Budget Session
The Congress has moved a privilege motion against IT Minister Ashwini Vaishnaw in the Lok Sabha as well as the Rajya Sabha, for "misleading" the House on the Pegasus spyware issue
Finance Minister Nirmala Sitharaman To Present Economic Survey Today
Union Finance Minister Nirmala Sitharaman is expected to present the Economic Survey 2021-22 before the Parliament on Monday.
Economic Survey is an annual report the economy which examines the performance of each sector in the past year, and suggests future moves. It also puts forward a GDP growth projection.
The survey is authored by a team led by the chief economic advisor (CEA).
Congress Moves Privilege Motion Against IT Minister Vaishnaw, Cites Pegasus Issue
Congress leader Adhir Ranjan Chowdhury has submitted a privilege motion to Speaker Om Birla against IT Minister Ashwini Vaishnaw, alleging that he mislead the House with regard to the Pegasus spyware issue.
The notice comes in the light of a recent New York Times report, which stated that India had purchased the snooping ware as part of a defence deal with Israel in 2017.
During the Monsoon Session of the Parliament in 2021, Vaishnaw had denied the charges of spying in a statement made before the Lok Sabha.
'Higher MNREGA Outlay & Scheme for Urban Poor Expected': FICCI Vice President on Budget
"We're expecting a higher MGNREGA outlay and a similar scheme for urban poor. It is very important to provide support to MSMEs, which have been affected by pandemic and are clearly the job-creating machine of economy," Senior Vice President FICCI Subhrakant Pandaon told ANI about his expectations from the Union Budget.
"Today, there'll be President's address and Budget to be presented tomorrow. Everyone's ready to discuss these but new issues & issues already there – inflation, unemployment, farmers' issues, crimes against women and Dalits – will be raised from time to time," Leader of Opposition Mallikarjun Kharge was quoted as saying by ANI.
"We'd been saying from beginning, Monsoon Session was affected due to this. Ruling party had said that the Opposition isn't allowing Parliament to function. But truth has come out. We'll raise this issue, Opposition has to agree on how to take it forward," Kharge said, alluding to the Pegasus matter.
Congress leader Adhir Ranjan Chowdhury had submitted a privilege motion to Speaker Om Birla against IT Minister Ashwini Vaishnaw, alleging that he mislead the House with regard to the Pegasus spyware issue.
'Privilege Motion on Pegasus Not Strong Enough, Matter Sub-Judice Before SC': Parliamentary Affairs Minister
"Privilege motion isn't strong enough. Matter is sub-judice before Supreme Court. Not right for anybody to make a comment, not right for me either," Union Minister of Parliamentary Affairs Pralhad Joshi said about the Congress's privilege motion against IT Minister Vaishnaw over the Pegasus spyware matter, ANI reported.
'This Budget Session Will Instill Confidence in World About India': PM Modi
"The Budget Session commences today. I welcome you and all MPs to this Budget Session. In today's global situation, there are a lot of opportunities for India. This session instills belief in the world regarding the country's economic progress, India's vaccination programme, made in India vaccines," said Prime Minister Narendra Modi.
"In this Budget Session too, discussions, issues of discussions and open-minded debates can become an important opportunity for global impact. I hope that all MPs, political parties will have quality discussions with open mind and help take the country on the path to development swiftly," he said.
PM Modi Asks MPs To Keep Politics Aside for Budget Session
"It is true that due to elections, sessions and discussions are affected. I appeal to all MPs to understand that elections are separate, they will go on. The Budget Session draws a blueprint for the entire year. The more fruitful we make this session, the better opportunity rest of the year becomes to take the country to economic heights," PM Modi said, ahead of the Budget Session.
After Congress, CPI MP Viswam Moves Privilege Motion Against IT Minister Vaishnaw Over Pegasus
CPI MP Binoy Viswam has moved a privilege motion against IT Minister Ashwini Vaishnaw in the Rajya Sabha over the Pegasus issue.
Previously, Congress leader Adhir Ranjan Chowdhury had submitted a privilege motion to Speaker Om Birla against Vaishnaw, alleging that he mislead the House with regard to the Pegasus spyware issue.
President's Address To Begin Shortly
President Ram Nath Kovind's cavalcade arrived at the Parliament before the commencement of the Budget Session, and will deliver an address shortly.
Parliament Budget Session Begins With President's Address
The Budget Session of the Parliament has begun with President Ram Nath Kovind's address.
"I bow down to the lakhs of freedom fighters who prioritised their duties and helped India get its rights. I also respectfully remember the personalities who contributed to the development journey of India in the 75 years of independence," the president said.
"Dr BR Ambedkar had said that his ideal society would be the one based on independence, equality and harmony. Democracy is not just a form of the government, democracy's base is sense of respect for people. My government considers the ideals of Babasaheb its guiding principle," he added.
PM Modi, MPs Attend President's Address
(Photo: RSTV)
TMC MP Moves Privilege Motion Against Centre Over Pegasus Spyware Issue
TMC MP Saugata Roy has written to Lok sabha Speaker Om Birla for moving a privilege motion against the Union Government "for misleading the House on the issue of Pegasus Spyware."
Vice President Venkaiah Naidu Addresses Both Houses
Vice President Venkaiah Naidu addressed both Houses of the Parliament, and reiterated the comments made during the president's address.
(Photo: Sansad TV)
Budget Likely To Leave Tax Rates Unchanged, May Rely on Income From Asset Sales: Bloomberg Survey
Finance Minister Nirmala Sitharaman is likely to increase the budget by about 14 percent year-on-year to ₹39.6 lakh crore ($527 billion) in the fiscal year beginning April, according to the median of estimates compiled by Bloomberg.
She is expected to leave tax rates largely unchanged, and instead rely on income from asset sales and a near-record borrowing of about ₹13 lakh crore to partly fund the plan, a survey of economists by Bloomberg showed.
'Centre Spreading Lies About Pegasus': Congress Leader on Privilege Motion
"We have moved a privilege motion in House on Pegasus. This government is misleading the House, Supreme Court, people... As Opposition, it's our responsibility to raise this issue; Centre attempting to spread lies about it (Pegasus)," Congress Lok Sabha leader Adhir Ranjan Chowdhury said, ANI reported.
Previously, Chowdhury had submitted a privilege motion to Speaker Om Birla against Vaishnaw, alleging that he mislead the House with regard to the Pegasus spyware issue.
Finance Minister Nirmala Sitharaman Tables the Economic Survey in LS
Finance Minister Nirmala Sitharaman tables the Economic Survey 2021-22 along with Statistical Appendix in the Lok Sabha.
Lok Sabha Adjourned Till 11 AM on 1 February
The Lok Sabha was adjourned till 11 am on Tuesday.
'Pegasus Deal Was Done During PM's Visit to Israel, We Have Moved Privilege Motion': KC Venugopal
"The IT Minister misled the Parliament by stating that Pegasus was not connected with the Indian governmen. Now the most credible newspaper of the world says the Pegasus deal was done during PM Modi's visit to Israel. That is why we're moving privilege motion," Congress MP KC Venugopal was quoted as saying by ANI.
Congress Lok Sabha MPs To Meet Today
The Lok Sabha MPs of the Congress will attend a meeting at 5 pm on Monday at Congress Parliamentary Party (CPP) office in the Parliament.
'Strong Focus on Investments in Healthcare Expected From Budget': Panacea Biotec MD
"What we're expecting at CII is very strong focus on investments and incentivizing capital expenditure in healthcare. Healthcare expenditure is around 1.2 percent annually if you leave last year aside where majority of expenses was to prevent COVID infections," Panacea Biotec MD R Jain said, ANI reported.
FY23 Growth Projected at 8-8.5%: Economic Survey
India's Gross Domestic Product (GDP) is expected to expand by 9.2 percent in the current financial year, the Economic Survey 2021-22 notes, as per ANI.
India will see a growth of 8 percent to 8.5 percent for the coming fiscal year that starts in April, Reuters quoted the survey as saying.
All macro indicators indicated the economy was well placed to face challenges, helped by pick ups in farm and industrial output growth, said the report, which was tabled by finance minister Nirmala Sitharaman in Parliament.
Lok Sabha Speaker Om Birla Holds All-Party Meeting
An all-party meeting was called by Lok Sabha Speaker Om Birla on Monday.
"Leaders of all parties assured that in this important Budget Session, they will cooperate in running the Parliament. I also urged them that extensive discussion can be held on President's Address and the Budget. We can raise issues of the nation and discussions can be held," Birla was quoted as saying by ANI.
Finance Minister Sitharaman Tables Economic Survey in RS
Finance Minister Nirmala Sitharaman tabled the Economic Survey 2021-22 and the Statistical Appendix in the Rajya Sabha.
Rajya Sabha Adjourned Till Tomorrow
The Rajya Sabha has been adjourned till Tuesday.
"The sitting of the Rajya Sabha will commence after one hour of the conclusion of the presentation of the Union Budget in Lok Sabha," Rajya Sabha Chairman M Venkaiah Naidu said.
Retail Inflation Remains Moderate; 5.2% in 2021-22
The Economic Survey stated that the retail inflation, as measured by Consumer Price Index-Combined (CPI-C), remained range-bound, touching 5.2% in 2021-22, from the previous 6.6% in the corresponding period between April and December of 2020-21.
Motion of Thanks & President's Address on Budget Session Agenda
Lok Sabha's Business Advisory Committee has allocated 12 hours for discussion on the Motion of Thanks to the President's Address and 12 hours for discussion on Budget, sources told ANI.
Meanwhile, Rajya Sabha Chairman M Venkaiah Naidu held an all-party meeting and decided that there will be no legislative business in the first half of the Budget session – the motion of thanks and general budget will be on the agenda.
Naidu also reportedly informed the leaders that the two major items of business took a total time of over 26 hours during the last Budget session, and a 23-hour time slot will be allotted for the same in the first part of this Budget session, ANI reported.
'Modi Govt Doesn't See People's Pain': Rahul Gandhi on Economic Survey
Congress leader Rahul Gandhi reacted to the Economic Survey and said "Modi government sees high tax collection as an achievement, it does not see people's pain."
Congress RS MP Gives Amendment Notice on Motion of Thanks
Congress Rajya Sabha MP Shaktisinh Gohil has given amendment notice on Motion of Thanks to the President’s Address.
(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)