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Tuesday,26-November-2024
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Union Budget fails to address core issues of inflation, unemployment: Jamaat-e-Islami Hind

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After the Union Budget for 2023-24 was presented by Finance Minister Nirmala Sitharaman on Wednesday, the Jamaat-e-Islami Hind (JIH) has criticised the budget for not addressing two important core issues of price rise and unemployment.

Issuing a statement, the JIH said, “The Budget falls short of addressing the core issues of inflation (price rise) and severe unemployment. The Budget has been insensitive to the call of the Prime Minister of ‘Sab ka Vikas’ as it has reduced the budgetary allocation to the minorities from Rs 5,000 crore to around Rs 3,000 crore.”

It said that the decision to reduce the tax on income above Rs 5 crore from 37 per cent to 25 per cent is not correct. This will further increase wealth inequality as pointed out by the latest Oxfam report. Overall the Budget appears to cater to the interest of corporates and not the informal economy and the common man.

However, the JIH further said that the budget can be credited to being focused on economic growth and fiscal consolidation bridging the negative gap between revenue and expenditure. Now, those having income up to Rs 7 lakh per annum will not have to pay any income tax. This change will help the salaried class. One more positive is the boost given to capital expenditure which is now budgeted at Rs 13.7 lakh crore i.e. 4.5 per cent of GDP. This will help in easing the funding of infrastructure projects.

“Despite these positives in the Budget, it appears as if it is aimed at benefiting only one class of society while ignoring the country’s poor and those living in rural areas. While the push for fiscal prudence is good, it has squeezed government expenditures even further resulting in a decrease in allocation for the social sector. For example, the MGNREGA scheme allocation has been slashed by 33 per cent when unemployment is historically high,” the JIH added.

“Another worrying aspect of the Budget is that various subsidies have been cut. For example, food subsidy has been cut by Rs 90,000 crore, fertilizer subsidy by Rs 50,000 crore and petroleum subsidy by Rs 6,900 crore. Also, Rs 9,255 crore remained unspent in the health sector and Rs 4,297 crore remained unused in the education sector. This non-utilization of allocated funds happened at a time when both these sectors required special focus in the post-pandemic era,”, the JIH said.

Maharashtra

President Droupadi Murmu Pays Tribute To 26/11 Martyrs, Reiterates India’s Commitment To Fighting Terrorism

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New Delhi: President Droupadi Murmu paid tribute to the martyrs of the 26/11 attacks on Tuesday.

“On the anniversary of cowardly terror attacks in Mumbai on 26th November 2008, I join the entire nation in paying homage to the bravehearts who lost their lives and expressing solidarity with their families,” said the President in a post on X.

She also reiterated India’s commitment to combat terrorism.

“A grateful nation salutes its valiant security personnel who made ultimate sacrifice while protecting our people. It is also the day to reiterate that India remains firmly committed to defeating terrorism in all its forms,” the post added.

Union Ministers Amit Shah & Rajnath Singh Pay Their Tribute

Union Ministers Amit Shah and Rajnath Singh also paid tribute to the security personnel who died during the attacks,

“Terrorism is a blot on the entire human civilization. The Modi government’s ‘zero tolerance’ policy against terrorism has been appreciated by the entire world and today India has become a world leader in anti-terrorism initiatives,” Union Home Minister Amit Shah’s post said.

“We remember, and we will never forget those wounds,” Defence Minister Rajnath Singh’s post said.

Union Minister Piyush Goyal Remembers Sacrifice Made By The People

Union Minister Piyush Goyal also remembered the sacrifice made by the people in a post on X.

“Respectful salute to the brave soldiers, policemen and innocent citizens who made the supreme sacrifice to protect the motherland in the 26/11 Mumbai terrorist attack. Their bravery, sacrifice and martyrdom will always be remembered,” the post said.

About 26/11 Terror Attack

Today is the 16th anniversary of the 26/11 attacks, a series of coordinated terror attacks at the Taj Hotel, Oberoi Trident Hotel, Chhatrapati Shivaji Terminus, Leopold Cafe, Mumbai Chabad House, Nariman House, Cama Hospital and Metro Cinema by ten Lashkar-e-Taiba terrorists.

Notably, at least 174 people, including 20 security force personnel and 26 foreigners, were killed and more than 300 injured in the 26/11 Mumbai terror attacks in 2008.

The ten Lashkar-e-Taiba terrorists came to Mumbai via the sea route from Pakistan and carried out the attacks.

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International News

Bangladesh High Court orders high-level probe into power deals with Adani group amid supply cuts

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Bangladesh’s High Court ordered the formation of a high-level enquiry committee comprising international energy and law experts to reevaluate all electricity-related agreements with the Adani group, The Business Standard, a local news portal, reported on Tuesday, November 19.

The bench of Justices Farah Mahbub and Debasish Roy Chowdhury has reportedly ordered the cabinet secretary to form the committee within a month and submit the report to the court in the next two months. 

Adani Power shares closed 0.47 per cent lower at ₹524.10 on Tuesday’, compared to ₹526.60 at the previous market close. 

The court, while hearing a petition, asked why instructions should not be given to cancel the uneven agreements made with the Adani group. It also asked for the documents related to the signing of the deal within a month.

Barrister M Abdul Qayyum, representing the petitioner, filed the writ in the High Court asking for the cancellation of all electricity deals with Adani group. Adani signed the 25-year power purchase agreement in 2017; at that time, no imported coal-based power plants were operational in Bangladesh, as per the report.

Adani’s Bangladesh power supply

Adani group’s Bangladesh power is supplied from Jharkhand’s 1,600 MW power plant. The cost of power is $0.1008 per unit or Tk12 per unit, a Bangladesh Power Development Board official was quoted as saying in the report.

This rate is 27 per cent higher than the rate of India’s other private producers and as much as 63 per cent more than the Indian state-owned plants. 

After Adani Power cut the Bangladesh power supply by half over the unpaid dues, the company also set a deadline of November 7 to switch off the flow of electricity if there was no clarity on the settlement of the outstanding amount.

Bangladesh reportedly owes Adani almost $850 million. Adani group later clarified that it had not demanded the full payment in seven days, as per the report.

Shortage of Power

Bangladesh continues to face a shortage of electricity, increasing the risk of blackouts, even after making a partial payment to Adani group, according to a Bloomberg report on Tuesday. 

Adani Power has received a letter of credit for $170 million, easing pressures from lenders, reported the agency, citing two people aware of the development. The partial payment doesn’t resolve the crisis, but the company won’t halt supplies for now, pending talks with the lenders of the Godda thermal plant in Jharkhand, the officials said. 

“Payments should have been made by this time,” Ahsan H Mansur, governor of Bangladesh Bank, said in a phone interview on Friday as per the report. The central bank “issued an instruction for the payment”, Mansur had said earlier this week.

The Adani electric supply accounts for nearly 10 per cent of Bengladesh’s total supply. The power company reduced its supply further to 500 megawatts on Thursday after cutting it to 700 megawatts earlier, as per the data collected from Power Grid Bangladesh cited in the news report.

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National News

Chhattisgarh: 5 Maoists Killed, 2 Jawans Injured In Narayanpur Encounter; Visuals Surface

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Narayanpur: In a major anti-Maoist operation, at least five Maoists were killed during a fierce encounter with security forces in the dense forests of the Abujhmad region in Chhattisgarh Narayanpur district on Saturday.

The gunfight took place after security personnel received reports about the presence of Maoists in the area.

According to officials, a joint team of security forces launched a search operation early Saturday morning. Around 6 a.m., the forces came under heavy fire, leading to an intense gunfight that lasted nearly five hours.

Statement Of One Of The Jawans

One of the jawan, part of the searching team, said that approximately 20 Maoists were present there, with at least five of them killed during the encounter.

“We were a team of 1,439 personnel deployed in the search operation. The encounter lasted until around 11 a.m., during which several Maoists were also injured. I came back but the search operation is still going on to capture the remaining Maoists,” he said.

2 Security Personnel Injured

During the operation, two security personnel sustained injuries. One of them, identified as Khileshwar Gawade, suffered bullet wounds in the head and right hand, while the other, Hiraman Yadav, was hit in the thigh. Both injured personnel were immediately evacuated and airlifted to Raipur for further medical treatment. Officials have assured that their condition is stable.

Security personnel have so far recovered the bodies of five Maoists, along with some weapons. The process of identifying the dead Maoists is underway.

About Abujhmad Region

The Abujhmad region, which borders Maharashtra’s Gadchiroli district, is known for being a hotbed of Maoist activity. Just last month, security forces achieved an important victory by neutralising 31 Maoists in one of the most successful operations in Chhattisgarh’s history.

On the rising success of such operations, Inspector General of Police, Bastar Range, Sundarraj P., had, last week said that a total of 192 Maoists have been killed this year alone. Authorities believe that sustained pressure from security forces is gradually weakening the insurgents’ grip in the region.

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