Month: February 2021

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-Top News India News

People left disappointed: Gehlot on Budget

Ashok Gehlot

He said the entire focus of the budget was only on the electoral states. It seems to be more ‘five electoral state budgets’ than the Union Budget…reports Asian Lite News

Rajasthan Chief Minister Ashok Gehlot on Monday expressed his displeasure over the Budget presented by Union Finance Minister Nirmala Sitharaman, saying they had high expectations from the Budget but the people of the state have been left disappointed.

In a tweet, he said: “Rajasthan had high expectations from the Union Budget but the people of the state have been disappointed by this. We hoped that East Rajasthan Canal Project would get the status of National Project in the budget, and Rajasthan would get special state status in Har Ghar Nal Yojana but it did not happen.”

Gehlot said “there is a bad news in this budget for the common man as no relief has been given in the prices of petrol and diesel rather new cess has been put on petrol and diesel”. The impact of the ever-increasing prices of petrol and diesel will finally pass on to the common man.

He said the entire focus of the budget was only on the electoral states. It seems to be more ‘five electoral state budgets’ than the Union Budget. “There is no policy in the budget for an economy going through a bad phase,” he said in another tweet.

“The BJP, which has been an outspoken opponent of FDI during the UPA government, has been promoting FDI since forming its government, which has been reflected in the budget. If in the past, instead of opposing FDI for political reasons, BJP would have supported the UPA in the interest of the country, then the country would have gone even further in this direction,” he added.

Former Rajasthan Deputy Chief Minister Sachin Pilot also termed the Budget disappointing, saying there is nothing new in the budget for farmers, unemployed youth and MSMEs.

Reacting to the Budget, he said that the Finance Minister’s budget speech was focused on increasing privatisation in many areas including banking, electricity, insurance, shipping etc and the middle class has been cheated by not giving any exemption in the income tax.

Also read:Modi hands over assets to crony capitalist friends: Rahul

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-Top News India News

Modi hands over assets to crony capitalist friends: Rahul

The Congress and the opposition came down heavily on the Centre after the Union Budget presentation by Finance Minister Nirmala Sitharaman…reports Asian Lite News

Congress leader Rahul Gandhi on Monday slammed the Centre for not providing cash transfers to the poor in the Union Budget, and said the Modi government was planning to give the country’s assets to a few capitalists.

In a tweet after the Budget, he said, “Forget putting cash in the hands of people, Modi Govt plans to handover India’s assets to his crony capitalist friends.”

The Congress and the opposition came down heavily on the Centre after the Union Budget presentation by Finance Minister Nirmala Sitharaman.

Ahead of the Budget, the Congress had sought the repeal of the farm laws and more expenditure on the agriculture sector.

Rahul Gandhi had said, “Support MSMEs, farmers and workers to generate employment, and increase Healthcare expenditure to save lives. Increase Defence expenditure to safeguard borders.”

The Congress had earlier stated that the government should impart a large fiscal stimulus to the economy, even if it was belated. “Such a stimulus alone will put money in the hands of the people,” the party had said.

The Congress leaders had asked the Centre to make direct cash transfers to 20-30 per cent of the families who are at the bottom of the economy for a period of at least six months.

It also asked the government to formulate and implement a rescue plan for the MSMEs to revive closed units, recover lost jobs and create new jobs for those who had moderate education and skills, and also reduce tax rates, especially GST and other indirect tax rates on petrol and diesel.

The party said the government should increase government capital expenditure and encourage public sector banks to lend without fear of investigative agencies probing every loan.

Also read:Phones may get expensive as custom duty hikes

Categories
-Top News Economy India News

Phones may get expensive as custom duty hikes

Finance Minister Nirmala Sitharaman, during her Union Budget 2021-22 speech, said that withdrawing exemptions on parts of chargers and mobile phones will boost local manufacturing of smartphones….reports Asian Lite News

In another bid to boost domestic manufacturing, the government on Monday announced an increase in custom duty for up to 10 per cent on mobile chargers and some sub-parts of phones, a move that can make handsets costlier by 3-4 per cent from February 2.

Finance Minister Nirmala Sitharaman, during her Union Budget 2021-22 speech, said that withdrawing exemptions on parts of chargers and mobile phones will boost local manufacturing of smartphones.

“Domestic electronic manufacturing has grown rapidly. We are now exporting items like mobiles and chargers,” Sitharaman said.

“For greater domestic value addition, we are withdrawing a few exemptions on parts of chargers and sub-parts of mobiles. Further, some parts of mobiles will move from ‘nil’ rate to a moderate 2.5 per cent,” she informed.

However, inputs or raw material for manufacture of specified parts like back cover, side keys etc. of cellular mobile phone has been increased from ‘nil’ to 10 per cent.

Inputs or parts of Printed Circuit Board Assembly (PCBA) of charger or adapter of cellular mobile phones are up from ‘nil’ to 10 per cent while the custom duty on inputs or parts of moulded plastic of charger or adapter of cellular mobile phones has also been increased from ‘nil’ to 10 per cent.

The 2.5 per cent duty hike is applicable on inputs or parts for manufacture of PCBA of cellular mobile phones, inputs or parts for manufacture of camera module, manufacture of connectors and raw material, etc.

The new custom duty slabs for chargers and parts of mobile phones are applicable from February 2.

According to Tarun Pathak, associate director at Counterpoint Research, there is a focus on electronics manufacturing and increase in duty for certain sub components is a push to localise some of these components.

“This might increase in prices for short term, or a very modest increase, as bulk of these sub components have already local suppliers like for camera modules, PCBAs, chargers and connectors, etc,” Pathak told IANS.

“We predict that 3-4 per cent hike in the prices of mobile phones is possible,” Pathak added.

The Centre has already rolled out a production linked incentive (PLI) scheme for the electronics manufacturing sector, particularly for mobile phone manufacturing, to curb increasing imports.

Mike Chen, General Manager, TCL India, told IANS that India needs to ease up the duty imposed on raw materials keeping in mind the ‘make in India’ initiative.

“We should also get added incentives so that transformative measures can be taken. The industry contributes 25 per cent of the country’s GDP,” Chen said.

Also read:Country on sale, only election ‘jumlas’: Oppn slams Budget

Categories
-Top News India News

Country on sale, only election ‘jumlas’: Oppn slams Budget

“This BJP government reminds me of the garage mechanic who told his client, ‘I couldn’t fix your brakes, so I made your horn louder’.”said Shashi Tharoor…reports Asian Lite News

The Congress on Monday criticised the Modi-led NDA government for giving a sizeable chunk of the infra-Budget to the election-bound states of Assam, West Bengal, Tamil Nadu and Kerala, and termed the Budget as “road for vote” and full of election “jumlas”.

Congress Assam chief Ripun Bora said, “So, the BJP government has made Parliament the place to launch election manifestos for the Assembly elections. This Budget is nothing more than an election manifesto full of jumlas”.

Union Finance Minister Nirmala Sitharaman on Monday proposed construction of 8,500 kilometre highway by March 2022. With focus on the Assembly poll-bound states, Tamil Nadu, Kerala, West Bengal and Assam get a major chunk of the proposed new highway projects.

Shashi Tharoor.

Assembly election in these states along with Puducherry will be held later this year.

In Assam, where the BJP is seeking a second consecutive term, Sitharaman proposed 1,300 km highways that will be constructed in the next three years.

Another Congress leader Shashi Tharoor, said, “This BJP government reminds me of the garage mechanic who told his client, ‘I couldn’t fix your brakes, so I made your horn louder’.”

In West Bengal, where the BJP is fighting a high octane battle to dislodge Mamata Banerjee’s government, the Finance Minister proposed 675 km of the national highway project at a cost of Rs 95,000 crore.

While Adhir Ranjan Chowdhury said, “The Budget is towards the path of privatisation and road for vote.”

The party leader said, “The government has not given anything to accelerate growth and at the time of unprecedented times. It is a simple Budget, the Congress expected cash transfer but the country is on sale.”

The government focus on the election going states have got applause from the party but the opposition parties have criticised this.

Trinamool leader Derek O’Brien tweeted, “India’s first paperless budget is also a 100 percent visionless budget. Theme of the fake budget is Sell India! Railways:sold Airports: sold Ports: sold Insurance: sold PSUs: 23 sold! Common people ignored. Farmers ignored. Rich get richer, nothing for middle class, poor get poorer.”

Bahujan Samaj Party Chief Mayawati raised doubts on the Centre’s efforts to control growing unemployment and inflation. She said the Budget will be evaluated on these terms and the poor and farmers were fed up with the hollow promises and false claims.

Also read:FM hikes Capex by 34.5% in FY22

Categories
-Top News Asia News

Suu Kyi asks for ‘people protest’ against coup

Myanmar’s de facto leader and State Counsellor Aung San Suu Kyi has asked people to protest against the coup staged by the military on Monday, hours after it detained her and other senior members of her ruling National League for Democracy (NLD) party.

The military seized control of the South Asian nation following escalated tensions between the government and the army that erupted due to the outcome of the November 2020 parliamentary polls, the first to be held since the end of the Army’s rule in 2011.

In a statement issued under Suu Kyi’s name, she said: “I urge people not to accept this, to respond and wholeheartedly to protest against the coup by the military.”

She added that Monday’s development has put the country back under dictatorship, the BBC reported.

According to a declaration signed by First Vice President U Myint Swe, who is currently serving as the Acting President, and issued following the coup on Monday morning, the state power will be handed over to Commander-in-Chief of Defence Services Min Aung Hlaing because of “election fraud”.

According to the declaration, which was first announced on the military-owned Myawady TV, a state of emergency has also been declared for a period of one year.

The legislative functions of all Parliaments and leading bodies will be suspended from the day of the declaration, it added.

In a televised statement following the declaration, the military said that it will again hold the multi-party general elections after the emergency period expires.

The Union Election Commission will be reformed and the electoral process in the parliamentary elections held on November 8, 2020, will be reviewed in accordance with the laws.

Meanwhile, regarding the detentions, Myo Nyunt, spokesperson of the NLD, told Xinhua: “I received internal reports about our State Counsellor and President (U Win Myint) being taken by the military. As far as I was informed, Shan State’s Planning and Finance Minister U Soe Nyunt Lwin, Kayah state’s NLD chairman Thaung Htay and some NLD representatives of the Ayeyarwady region’s Parliament have been detained.”

He added that two other members of the Central Executive Committee of the party were also taken and was awaiting his turn.

According to a BBC news report citing family members, soldiers also visited the homes of Chief Ministers in several regions and took them away.

Telecommunications in capital city of Nay Pyi Taw and some other regions and states had also been cut off.

In the largest city of Yangon, the city hall building has been seized by the military, and army personnel could be seen sitting inside the gate holding guns.

The state-run Radio and Television (MRTV) said on its social media that it has also stopped operations.

In the disputed elections, theNLD won 83 per cent of the available seats in Parliament, enough to form a government.

But the military-backed opposition Union Solidarity and Development Party (USDP) claimed that the result was fraudulant.

It had also filed complaints about “election fraud” at the Supreme Court against the President and the Chair of the Electoral Commission.

But the Election Commission last week dismissed the allegations.

Earlier this week, the military had warned that it will take action if the complaints were not addressed. It had also hinted the possibility of a coup.

Reacting to the development, India on Monday expressed “deep concern” and urged the neighbouring country to uphold the rule of law and the democratic process.

A statement issued by the Ministry of External Affairs in New Delhi said: “India has always been steadfast in its support to the process of democratic transition in Myanmar.”

Condemning the coup, US Secretary of State Antony Blinken called for the release of all government officials and civil society leaders and said that Washington “stands with the people of Burma in their aspirations for democracy, freedom, peace, and development. The military must reverse these actions immediately”.

UK Prime Minister Boris Johnson condemned the coup and slammed the “unlawful imprisonment of civilians”, adding “the vote of the people must be respected”.

Hon. PM of the UK Boris Johnson

Australian Foreign Affairs Minister Marise Payne said “we call on the military to respect the rule of law, to resolve disputes through lawful mechanisms and to release immediately all civilian leaders and other who have been detained unlawfully”.

Chinese Foreign Ministry spokesperson Wang Wenbin said Beijing hoped that all sides in Myanmar can appropriately handle their differences under the constitution and legal framework, while safeguarding political and social stability.

The spokesperson added that China “is a friendly neighbour of Myanmar’s” and are in the “process of further understanding the situation”.

Also Read-Suu Kyi arrested, military takes control of Myanmar

Categories
-Top News Asia News

Iran begins Islamic Revolution’s anniversary celebrations

Sunday which was the first day of the 10-day ‘Fajr’ (Dawn) celebrations marked the return of Grand Ayatollah Ruhollah Khomeini, the late leader of the Islamic Revolution, to the country from exile…reports Asian Lite News

Iran has kicked off 10-day long celebrations marking the 42nd anniversary of victory of the Islamic Revolution in 1979.

Sunday which was the first day of the 10-day ‘Fajr’ (Dawn) celebrations marked the return of Grand Ayatollah Ruhollah Khomeini, the late leader of the Islamic Revolution, to the country from exile, reports Xinhua news agency.

Earlier in the day, the country’s incumbent Supreme Leader Ayatollah Ali Khamenei paid tribute at Khomeini’s mausoleum in the suburbs of the capital Tehran, the official IRNA news agency reported.

Khamenei also attended the martyrs’ tombs and greeted the souls of the defenders of Islam and Iran, according to the report.

For the past decades, the Iranian governments have launched important civil projects on the 10-day celebrations, and the officials have held international sports competitions and cultural festivals.

The Islamic Revolution in Iran resulted in the overthrow of the US-backed regime of Shah Mohammed Reza Pahlavi on February 11, 1979.

During the revolution, 52 Americans were held hostage after Khomeini’s supporters seized the US Embassy in Tehran.

Also read:Western weapons main cause for Gulf instability: Iran

Categories
-Top News COVID-19 UK News

Covid 19: Veteran Captain Tom Moore hospitalised

The 100-year-old British veteran Captain Tom Moore, who raised millions of pounds for the National Health Service (NHS) last year, has been admitted to hospital with coronavirus, his daughter said.

In a tweet from his official account, his daughter Hannah Ingram-Moore said he tested positive last week and was taken to Bedford Hospital for help with his breathing, Xinhua news agency reported on Sunday.

He is being treated in a ward, not in intensive care, she added.

Local news reported that the 100-year-old had not yet been vaccinated because he was being treated for pneumonia.

Moore, who turned 100 last April, raised over 32 million pounds for the NHS by walking 100 laps of his garden during UK’s first Covid lockdown last year.

His fundraising efforts won the nation’s hearts and he was knighted by the Queen in July.

There has been an outpouring of well wishes for the centenarian on social media, including British Prime Minister Boris Johnson, who tweeted: “My thoughts are very much with CaptainTomMoore and his family. You’ve inspired the whole nation, and I know we are all wishing you a full recovery.”

Another 21,088 people in Britain have tested positive for Covid-19, bringing the total number of coronavirus cases in the country to 3,817,176, according to official figures released Sunday.

England is currently under its third lockdown since the outbreak of the pandemic in the country. Similar restriction measures are also in place in Scotland, Wales and Northern Ireland.

To bring life back to normal, countries such as Britain, China, Germany, Russia and the United States have been racing against time to roll out coronavirus vaccines.

Also Read-Jacinda joins Chinese New year celebration hopefully

Categories
-Top News China

Jacinda joins Chinese New year celebration hopefully

Thousands of people from across New Zealand celebrated the upcoming Chinese New Year at the 2021 Chinese New Year Festival and Market Day event in Auckland.

The annual event, one of the largest Chinese New Year celebrations in New Zealand, was joined by New Zealand Prime Minister Jacinda Ardern, Auckland Mayor Phil Goff, Opposition leader Judith Collins and many distinguished guests, Xinhua news agency reported on Sunday.

In her keynote speech, Ardern said that the 2021 Chinese New Year represented an opportunity to acknowledge the past year and to look forward to 2021 with optimism and with hope.

“People born in the year of Ox, are known to be honest, consistent, hardworking and generous. Those character traits of the Chinese community, who have joined New Zealand and contributed to New Zealand for over 170 years with all of those many traits”, said Ardern.

Ardern also mentioned the economic ties between New Zealand and China, particularly the New Zealand-China Free Trade Agreement upgrade that was signed this week.

“Alongside the renewed commitment to our people-to-people links, stands our on-going commitment to our economic and trade ties, which are equally long and deep and important to us,” said Ardern.

“It is a really important milestone for both countries, and shows the strength of our relationship,” said Ardern.

Ruan Ping, Chinese consul general in Auckland, said in his opening remark that New Zealand was now well positioned for post-pandemic recovery.

“For 12 years, The China-New Zealand FTA has brought huge benefits to both countries and peoples. The upgrade protocol involves multiple areas such as trade, investment and rules, making China-New Zealand free trade more efficient. I am convinced that by working together, China and New Zealand will achieve more tangible results in pragmatic cooperation and friendly relations,” said Ruan.

Traditional Chinese performances including lion and dragon dances, Wushu performances, face-changing performance, magic shows, singing and dancing were showcased in the celebration.

Free facemasks and hand sanitizers were provided during the event to the general public for additional safeguarding people’s health, although facemasks were not mandatory by government regulation. People were also encouraged to scan the NZ Covid Tracer App for contact tracing.

New Zealand is currently at Covid-19 Alert Level One with no restriction on public gatherings.

Also Read-EU braces for battle against Covid variants

Categories
-Top News EU News

EU braces for battle against Covid variants

The emergence of variants of concern “raises the imminent threat of reduced efficacy of recently approved vaccines,” and it is crucial to prepare for the appearance of such variants, the said EC statement…reports Asian Lite News

Top officials of the European Union (EU) held discussions with drug giants about the rapid development and production of vaccines specially against the new variants of the coronavirus.

The emergence of variants of concern “raises the imminent threat of reduced efficacy of recently approved vaccines,” and it is crucial to prepare for the appearance of such variants, the European Commission said in a statement on Sunday.

The video conference was held by the Commission chief Ursula von der Leyen, with CEOs of the pharmaceutical companies BioNTech/Pfizer, Moderna, AstraZeneca, Johnson & Johnson, CureVac and Sanofi, all of which have signed agreements with the EU for vaccines supply.

EU Health Commissioner Stella Kyriakides, Commissioner for the Internal Market Thierry Breton, von der Leyen’s coronavirus special advisors Peter Piot and Moncef Slaoui, as well as the Executive Director of the European Medicines Agency, Emer Cook, were also present.

The discussion explored requirements for very rapid development, manufacturing and regulatory approval of vaccines for Covid-19 variants in the EU, according to the statement.

The meeting took place amid increasing concerns over the limit of capacity and shortage of supply in the EU and the seemingly lower efficacy of some vaccines towards the new variants.

On January 29, Piot had said biotechnology company Novavax reported positive results from its large UK trials with overall efficacy of 89 per cent, but it is 86 per cent effective against the variant first identified in the UK and only 60 per cent effective against the variant detected in South Africa.

Also read:EU calls for ‘end to Afghan violence’

Categories
Economy India News

Bihar CM terms Budget 2021 as ‘balanced’

Bihar Chief Minister Nitish Kumar has welcomed the Union Budget presented on Monday by Union Finance Minister Nirmala Sitharaman, describing it as a “balanced” Budget.

Nitish reacted to the Union Budget saying, “Despite the Covid epidemic and problems in revenue collection, a balanced Budget was presented by the central government. It is welcome. I congratulate the central government for presenting a balanced Budget.”

The Bihar Chief Minister further said that a budget of Rs 34.8 lakh crore has been presented for 2021-22, which is more than the estimated budgetary expenditure of Rs 30.42 lakh crore for the year 2020-21.

He said that 41 per cent amount will be given to the state governments in the light of the recommendation of the 15th Finance Commission. A provision of Rs 2,23,000 crore has been made in the health sector, which is 137 per cent more than the previous year. Also, the National Institute of World Health will be established.

He said that the Centre has decided to give LPG cylinders to 1 crore additional families under the Ujjwala scheme, which is welcome. Also 100 new cities will be connected with gas pipelines.

Nitish said there are plans to start seven mega textile parks with world class infrastructure in the country in the next three years, that will provide employment to people as well as boost exports. He said that a development financial institution will be established and a separate law will be introduced for this.

He said that solar and renewable energy is being promoted. Funds will be provided to fight air pollution which is a good step towards protecting the country’s environment.

Kejriwal terms Budget ‘favorable for selected companies’

Arvind Kejriwal

After Union Finance Minister Nirmala Sithraman presented the Budget for FY2021-22 in the Parliament on Monday, Delhi Chief Minister Arvind Kejriwal termed it as ‘favorable for selected companies’.

“This budget is to provide benefit to some selected big companies. It (budget) will trigger a spike in inflation and will be a burden for common people,” Kejriwal tweeted.

In a pre-budget meeting with Finance Minister Nirmala Sitharaman held earlier this month, Delhi Finance Minister Manish Sisodia had demanded that the national capital should be treated at par with the Union Territory of Jammu and Kashmir regarding its share of central taxes and central assistance.

Apart from these, Sisodia had also requested Sitharaman to allocate additional funds to ease the financial crunch being faced by the three municipal corporations in Delhi.

Also Read-Centre to launch Securities Market Code