“We are certainly predisposed about not repeating mistakes of UPA,” says Finance Minister Nirmala Sitharaman, countering Chidambaram in the Rajya Sabha Budget Session on Tuesday, 11 February.
“More sarcasm than content in former Finance Minister P Chidambaram's criticism of Budget FY21,” she added.
The economy is moving forward and green shoots are visible, Sitharaman said in the Lok Sabha on Tuesday, the last day of the first phase of the Parliament Budget Session.
“The government will invest over Rs 1 lakh crore in infrastructure development by 2024-25… Minimum Support Price for all mandated Rabi and Kharif crops was increased in 2019-20 to boost consumption,” Sitharaman said.
- The Budget Session will resume again from 2 March.
- “It is in the DNA of the BJP and the RSS to try and erase reservations,” Rahul Gandhi said on Monday, as he asserted that his party will not allow doing away with the quota
- In Rajya Sabha on Monday, Congress leader P Chidambaram spoke about the state of the economy, saying it has inspired fear and uncertainty across the nation
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Industrial Activity Has Seen a Rebound: FM
The IIP (Index of Industrial Production) numbers have registered a possible growth of 1.8%, as compared to the contraction by 3.4 % in Oct 2019 & by 4.3% in Sept 2019,” said FM Sitharaman on Tuesday, 11 February in Rajya Sabha.
“Global sentiment towards India is in favorable mood and that is seen by investments from investors which continues to show confidence in India,” she added.
Net FDI flow was reported at 24.4 billion in Apr-Nov 2019-20, compared to 21.1 billion in Apr-Nov 2018-19.
First Half of Budget Session Ends, House to Meet on 2 March
The Lok Sabha was adjourned on Tuesday till 2 March as the first part of the budget session ended, reports PTI.
The House will now meet between 2 March and 3 April during which the Union Budget will be taken up for passage.
In the first part of the session, President Ram Nath Kovind addressed a joint sitting of Parliament on 31 January, the first day of the session.
Finance Minister Nirmala Sitharaman presented the Union Budget on 1 February.
Govt Has Taken Specific Steps to Boost Exports: Sitharaman
The government has taken several steps, including tax refund scheme and enhanced credit to exporters, to boost outbound shipments, Finance Minister Nirmala Sitharaman said on Tuesday, 11 February, reports PTI.
Sitharaman added that Remission of Duties or Taxes on Export Product (RoDTEP) scheme will replace the existing Merchandise from India Scheme (MEIS), which is considered as non-compliant to global trade rules.
The minister said textiles and all other sectors, which currently enjoy incentives up to 2 per cent over MEIS, will transit to RoDTEP.
‘Economy Moving Forward, Green Shoots Visible’: FM in Lok Sabha
The economy is moving forward and green shoots are visible, Finance Minister Nirmala Sitharaman said in the Lok Sabha on Tuesday, the last day of the first phase of the Parliament Budget Session.
“The government will invest over Rs 1 lakh crore in infrastructure development by 2024-25… Minimum Support Price for all mandated Rabi and Kharif crops was increased in 2019-20 to boost consumption,” Sitharaman said.