Congress' P. Chidambaram poses 12 questions to the govt on Budget 2018, here's the list | WeForNews | Latest News, Blogs Congress’ P. Chidambaram poses 12 questions to the govt on Budget 2018, here’s the list – WeForNews | Latest News, Blogs
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Congress’ P. Chidambaram poses 12 questions to the govt on Budget 2018, here’s the list

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P Chidambaram
Rajya Sabha, former finance minister, P Chidambaram

Congress’ P. Chidambaram poses 12 questions to the govt on Budget2018, says, ‘budget 2018-19 has worsened the fiscal deficit,’ also stated, ‘shall we tell the ppl, NDA govt believes that we must tax the hard-working middle class rather than the rich corporates?’

Here are the 12 Questions raised by the former Finance minister, P Chidambaram

Question 1. Budget 2018-19 has made the fiscal deficit worse: 3.5 per cent against 3.2 percent in 2017-18 and 3.3 percent against 3.0 per cent in 2018-19. What are the estimates of the Current Account Deficit for 2017-18 and 2018-19?

Question 2. Every deficit has breached the target set by the government. Will the impact of these high deficits be inflationary? Currently, WPI is 3.6 per cent and CPI is 5.2 per cent. What are the estimates of average WPI and average CPI for 2017-18 and 2018-19?

Question 3. The yield on 10-year treasury bond on 31 January 2018 was 7.43 per cent and it stood yesterday at 7.57 per cent. Is this a signal that interest rates will rise across all debt instruments? Will the rise in interest rates be inflationary?

Question 4. Suppose the price of crude oil rises to USD 70 or 75, how will it impact your budget estimates, especially the deficits? Will you raise the retail prices of petrol and diesel or will you cut the central excise duties on petrol and diesel?

Question 5. The government will borrow an additional Rs 48,000 crore in 2017-18. Add another Rs 37,000 crore that ONGC borrowed on behalf of the government. Where did this Rs
85,000 crore go? Total expenditure in 2017-18 increased by Rs 71,000 crore, but revenue expenditure increased by 1,07,371 crore! Is this not evidence of a spendthrift government that has abandoned all norms of fiscal prudence?

Question 6. Capital expenditure was budgeted in 2017-18 for Rs 3,09,801 crore. The revised estimate is Rs 2,73,445 crore — a shortfall of Rs 36,000 crore. Which are the schemes and projects that took a hit in capital expenditure?

Question 7. For 2018-19, Government has estimated nominal GDP growth at 11.5 per cent. Is the additional 1 per cent due to higher inflation or higher growth? What is your estimate of real GDP growth in 2018-19?

Question 8. Before you assumed office, you promised 2 crore jobs a year. The ILO describes a proper job as employment that is certain, regular and reasonably secure. What is your definition of a job? How many ILO-described jobs were created in the four years of your government?

Question 9. In 2017-18, the budget estimates of customs duties was Rs 2,45,000 crore. The revised estimates show a drastic fall to Rs 1,35,242 crore. Is there a story there that you have not yet told the country and the people?

Question 10. GST came into effect on
1 July, 2017. Your GST revenue collection for 2017-18 is estimated at Rs 4,44,631 crore. Is this collection for 8 months (excluding March 2018) or for 9 months or for 11 months (as you have said repeatedly)?

Question 11. For 2018-19, you have projected that gross tax revenue will grow by 16.7 per cent when nominal GDP growth will be 11.5 per cent. Is the tax growth rate of 16.7 per cent realistic or ambitious or aggressive?

Question 12. For 2018-19, you have projected the following growth rates:

Corporation tax :- 10.15 per cent
Income tax :- 19.88 per cent

GST a whopping 67.31 per cent

Is there a philosophy of taxation that you wish to share with the people of India?

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Election

Wrong policies led to failure of Cong-RJD govts in Bihar: Owaisi

People of the country are facing the consequences due to the wrong moves of the Congress party,” the AIMIM chief said.

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asaduddin owaisi

Patna, Sep 19 — All India Majlis-e-Ittehad-ul Muslimeen (AIMIM) chief Asaduddin Owaisi on Saturday claimed that wrong policies led to the failure of the Congress and RJD governments in Bihar.

Owaisi was in Patna as the AIMIM entered into an alliance with the Samajwadi Janata Dal Democratic (SJDD) ahead of the Bihar polls.

“We will fight the election under the leadership of Devendra Prasad Yadav, the president of SJDD. We welcome all those parties who want to fight against communalism and communal parties,” the AIMIM chief said.

“We are not scared of any political party. Our party had contested the election in 2015 from Kishanganj, but the Congress won. Today the BJP is riding high in Bihar due to the failure of the RJD. I have defeated the BJP and the Shiv Sena in Hyderabad,” Owaisi said.

“In Maharashtra, the Congress party is sitting on the Shiv Sena’s lap. The former is presented as a secular party in the country but I would believe that its thinking promotes feudalism. People of the country are facing the consequences due to the wrong moves of the Congress party,” the AIMIM chief said.

The AIMIM has already declared it will contest on 50 seats in the upcoming assembly elections in Bihar.

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Politics

Congress leaders to meet on Monday to discuss organisational issues

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Karnataka, K.C. Venugopal

New Delhi, Sep 19 : Amid the ongoing Monsoon Session of the Parliament, Congress general secretaries and state in-charges will meet on Monday to discuss important organisational issues in the absence of party interim chief Sonia Gandhi and former party President Rahul Gandhi.

Congress General Secretary K.C. Venugopal in a letter urged all the general secretaries, members of the Special Committee and state in-charges to assist the Congress President in organisational operational matters. The meeting will be held at 4 p.m. on Monday at the party headquarters here.

Sonia Gandhi has gone abroad for her annual medical check-up along with her son Rahul Gandhi.

This is the first meeting of the party general secretaries and state in-charges after the stormy Congress Working Committee (CWC) meeting.

After the CWC meeting, the Congress carried out a major reshuffle in the organisation, replacing several leaders, including Ghulam Nabi Azad, who wrote a letter to Sonia Gandhi on party matters.

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Politics

BJP government in Tripura has failed in Covid control, say CPI-M, Congress

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Opposition CPI-M and Congress on Saturday strongly criticised the BJP government in Tripura for its “total failure in Covid-19 management putting the state in a worst situation in the northeastern region”.

The Congress has called for a 12-hour strike in Tripura on Monday to protest the governmenta?s negligence to check the deaths due to the coronavirus and spread of the infectious disease.

The ruling Bharatiya Janata Party, however, rejected the opposition’s accusation and blamed them for not following the government’s Covid norms.

Communist Party of India-Marxist Tripura state secretary Gautam Das said that Tripura is the only state in India where there is no full-fledged health minister and the Chief Minister Biplab Kumar Deb has been holding as many as 28 departments, including Health and Family Welfare Department.

“Frustrated over the government’s mismanagement, Additional Chief Secretary in-charge of Health and Family Welfare Department Sanjay Kumar Rakesh, Health Director Radha Debbarma and many other senior officials have either applied for voluntary retirement or have already left their jobs. Despite huge shortages of doctors and health staff, the BJP government did not recruit any health workers including nurses during the past two-and-a-half years,” Das told the media.

Das, who is also the member of the CPI-M central committee, said that the state government did not even share the correct and updated Covid information with the High Court, which has recently, took a suo-moto case and raised 13 points to the government.

“After thousands of people returned to Tripura from different parts of the country in May and June, Tripura government tested their sample 5 : 1 ratio – one sample tested out of five returnees — causing huge spread of the dreaded virus. With 1.12 per cent fatality, Tripura is in the worst position among the 8 northeastern states in Covid-19 death ratio while its recovery rate of 67.50 per cent also very low,” the Left leader said.

Former Tripura state Congress chief and ex-minister Birajit Sinha alleged that the BJP government had not only totally failed in Covid management but the Chief Minister and the ruling party leaders were arrogant.

Congress leader Tapas Dey said that Chief Minister Biplab Kumar Deb himself attended religious, personal, governmental and party programmes violating the social distancing norms and other government guidelines.

BJP spokesman Nabendu Bhattacharjee said that the people rejected Left parties in Tripura in 2018 assembly polls and both the CPI-M and the Congress made false charges.

“After the BJP government came to power, many new departments were set up in Tripura hospitals and many specialists were recruited on numerous diseases. When lakhs of people are dying due to Covid-19 in China and other developed countries, these two parties remain silent,” he told the media.

Bhattacharjee said putting their lives at risk, BJP’s Lok Sabha member Pratima Bhowmik and many of the party functionaries were providing services to needy people and many BJP workers had died after owing to coronavirus.

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