Union Budget Reaches out to Farmers, the Deprived APOORV PERTI Cate Rs
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The Word Edition 2 Page 1_Layout 1 2/6/2018 11:20 AM Page 1 Volume No 18 Issue No 2 February 02, 2018 LAB JOURNAL OF THE ASIAN COLLEGE OF JOURNALISM MSP hike norms No Aadhar, no North East trade not clear: experts LPG supply fair kicks off Page 2 Page 3 Page 4 Union Budget reaches out to farmers, the deprived APOORV PERTI cate Rs. 500 crore towards Opera - year. Another announcement made by tion Green which would ensure that A number of rural livelihood the Finance Minister was that the Chennai: The rural sector was the the farmers got the right price for projects would be implemented and emoluments of the President, Vice primary focus of the Union Budget their produce and that their income the allocation under national liveli - President and Governors would be for the fiscal year 2018-19 which doubled by 2022. hood mission will be raised to Rs. raised to Rs. 5 lakh, Rs. 4 lakh and has promised a better deal for far - Organic farming would receive a 5,750 crore in the next fiscal year. Rs. 3.5 lakh per month respectively. mers, a boost to the rural economy boost with the formation of clusters Jaitley said the government had The salaries of members of parlia - and a helping hand to the poor. of 1,000 hectares. Women would identified 115 ‘aspirational dis - ment would be subject to automa - In what has been described as an be encouraged to take up organic tricts’ which would be converted to tic revision every five years election year budget, Finance Mi - farming under the National Rural model of development. With an ou - indexed to inflation. nister Arun Jaitley said that free Livelihood Programme. The use of tlay of Rs. 2.04 lakh crore, 99 cities While leaving the income tax LPG connections would be provi - solar power for farm operations would be selected for smart city slabs untouched Jaitley increased ded to eight crore women below the would be encouraged, Jaitley said. projects. the health and education cess on in - poverty line under the govern - Furthermore, institutional credit Under the regional development come tax to 4 per cent from 3 per ment’s UjjwalaYojana. for agriculture would be raised to plan, up to ten prominent tourist cent. A standard deduction of Rs Jaitley said free electricity would Rs. 11 lakh crore in 2018-19, up by sites would be developed into ico - 40,000 from the taxable income be given to four crore additional Rs. 1 lakh crore from the previous nic locations. would be allowed. But this now in - households and 50 crore poor In - cludes the existing annual transport dians would get health insurance of allowance of Rs 19,200 and medi - up to Rs 5 lakhs a year under the cal reimbursement of Rs 15,000. As National Health Protection WHAT THEY SAY... a result the net gain for the taxpayer Scheme. Arun Jaitley’s Budget 2018 may be aimed at elevating the rural and is just Rs 5800 as a result of the Jaitley also announced that a de - poor sections of society but the reactions, mainly from the working standard deduction. dicated affordable housing fund middle class, have not been supportive. Politicians have been critical Indian Railways would receive would be set up in the National about various aspects of the budget. an allocated budget of Rs. 1.48 lakh Housing Bank and said it was in Former Finance Minister P. Chidambaram tweeted out different crore for the coming fiscal year, up line with the Government’s plan to areas of the budget that he was ‘disappointed’ with. He said “Rs. 500 from Rs. 1.31 lakh crore the pre - The Super Blue Blood Moon viewed from Tamil Nadu Science and Technology have housing for all by 2020. crore for Operation Green amounts to a pittance. There is nothing to in - vious year. Most of this would go Centre’s Birla Planetarium in Chenna on January 31, 2018. The last time this event Under the Pradhan Mantri Awas dicate that farmers’ real income will rise.” towards the targeted renewal of occured was on March 31, 1866 - 152 years ago. MANOJ C. SINDAGI Yojana; up to 1 crore houses were Former Prime Minister Manmohan Singh, said that the fiscal arith - 3,600 km of rail tracks. More than planned to be built in rural areas. metic was at fault as the deficit seems to have increased. development, rail safety would be In what has been seen as a move “The government says farmers' income will double by 2022. But it's the prime focus. to appease angry farmers, Jaitley not possible until the agricultural growth is 12 per cent. Until we About 4,200 unmanned rail cros - said farmers would get a minimum achieve that ... It is just a hollow assurance,” he added. sings would be eliminated during support price that was 1.5 times the CPI(M) leader and General Secretary Sitaram Yechury slammed the the next two years, escalators cost of production. A fund of Rs. Government for its fraudlent pro-poor agenda. He said “they are only would be provided at stations with Senior citizens happy, 2,000 crore was to be set up for up - providing slogans of relief to the people. The only positives are for a 25,000-plus footfall and Wi-Fi grading rural agriculture markets. corporates and international finance.” and CCTVs would be set up in all The government would also allo - trains. salaried class disappointed AADITYA ANAND ployees,” he added. health insurance premium or medi - Another IT employee V. Naren - cal expenditure. The limit of de - Chennai: Union Finance Minister dran said that, “There was a belief duction for medical expenditure for Arun Jaitley left Personal Income that the government would soon do critical illness has been increased ‘Climate change will cut farm income’ tax rates untouched but increased away with direct tax collection al - from, Rs 60,000 in case of senior ADITHYA NARAYAN ring the flowering stage of the seed “Flooding the field while culti - Developing flood tolerant, heat the health and education cess from together and mop up funds through citizens and from Rs 80,000 in case Chennai: Climate change will resulting in flower drop.” She also vating paddy is not only a waste of tolerant and saline tolerant crops 3 per cent to 4 per cent. indirect tax collection. I expected a of very senior citizens, to Rs 1 lakh reduce agricultural income by 18 to quoted the Punjab example, when water but also contributes to cli - are the hard adaptation methods. During 2017 budget, the income 10 per cent tax slab for income bet - in respect of all senior citizens. 25 per cent, says the Economic in 2015 hailstorms gave way to a mate change,” says Menon. Floo - Developing saline tolerant crops in - tax rate was cut to 5% for indivi - ween Rs 5 lakh and Rs 10 lakh. So The Pradhan Mantri VayaVand - Survey of India that was presented ding the field created anaerobic volves taking a specific gene from duals having an income between I am not happy with the govern - hana Yojana, a government pension a day before the Union Budget. conditions that give rise to methane mangrove (a plant that grows under Rs. 2.5 lakh to 5 lakh, Tax exemp - ment sticking to previous year’s tax scheme, was also extended up to According to the survey, agricul - The lack of one of the major greenhouse gases. saline conditions) and incorpora - tion for income upto 2.5 lakh, 20% rates.” March 2020, under which an assu - ture contributes to 16 percent of the The survey suggests sprinklers ting it into paddy. for income between 5 lakh to 10 Most of the people belonging to red return of 8 per cent is given by GDP and employs around 49 per - institutionalized se - and drip irrigation as remedies. Khan also quotes the Saudi lakh and 30% for incomes above 10 the middle class said that the cur - the Life Insurance Corporation of cent people in the country. The sur - tups is a shortco - “With government subsidies, example where heat tolerant plants lakh. These rates continue in this rent tax rates did not help them. India (LIC). Also, the existing limit vey also states that climate change drip irrigation and sprinklers are are already under cultivation. budget. “I expected a decrease in the tax on investment of Rs 7.5 lakh per se - will involve an increase in average ming India faces catching up,” added Menon. The lack of institutionalized se - However Jaitley introduced the rates but the standard deduction of nior citizen under this scheme was temperature, a decline in average According to Saleem Khan, Se - tups is a shortcoming India faces standard deduction of Rs. 40,000 Rs. 40,000 comes as a slight relief proposed to be enhanced to Rs 15 rainfall and an increase in the num - when it comes to nior Scientist at MSRF , “Climate when it comes to beating climate which had been removed years ago. even though it is not going to make lakh. ber of dry days. beating climate change gives rises to erratic rainfall change. “Most of the climate But the existing annual transport al - much of a change,” said R. Subra - “I welcome these initiatives by According to Manjula Menon, and this in turn alters crop pattern. change bodies in India have come lowance of Rs 19,200 and medical mani, who is doing construction the government. Increasing the Principal Scientist at the M.S.Swa - change.