Plan and Policy

Plan & Policy

Govt promises to purchase solar power from people

Government assurance to set up a mechanism to buy surplus solar power from commoners enthused all but the industry expressed concerns over proposed 70 per cent safeguard duty on solar equipment in the Budget.

“Generation of solar electricity is harvesting of sun by the farmers using their lands. Government of India will take necessary measures and encourage state governments to put in place a mechanism that their surplus solar power is purchased by the distribution companies or licencees at reasonably remunerative rates,” Finance Minister Arun Jaitley said in his Budget speech.

An inclusive Budget

This is a prudent budget that is directionally on track, with a focused gaze on the social, academic and economic front, in the spirit of inclusive growth. It endeavours to strike a balance between fiscal priorities and growth. 

Mere desh ki dharti

Finance minister Arun Jaitley on Thursday said the Union budget blends fiscal prudence with economic necessities.

Govt lowers market borrowing to Rs 4.07 lakh cr for FY19

The government will borrow Rs 4.07 lakh crore from the market in 2018-19, around Rs 73,000 crore lower than the current fiscal.

As per the revised estimate, the net borrowing for the current fiscal was steeply raised to Rs 4.79 lakh crore as against the Budget estimate of Rs 3.5 lakh crore.

At the same time, gross borrowing has been pegged at Rs 5.99 lakh crore for 2017-18, marginally higher from Budget estimate of Rs 5.8 lakh crore.

However, gross borrowing for the next fiscal has been raised to Rs 6.05 lakh crore.

For every Re in govt kitty, 19 paise to come from borrowing

For every rupee in the government coffer, 19 paise will come from market borrowing and other liabilities in 2018-19, even as it will spent 18 paise towards interest payment.

According to the Budget 2018-19 presented in Parliament today by Finance Minister Arun Jaitley, 70 paise will come from direct and indirect taxes for the every rupee earned.

On the expenditure side, the biggest component is states' share of taxes and duties at 24 paise and interest payment of 18 paise.

Gold Monetisation Scheme to be revamped: Jaitley

The government will revamp the 'Gold Monetisation Scheme' and come out with a comprehensive policy on the precious metal, Finance Minister Arun Jaitley today said.

The revamping of the scheme is aimed at enabling people to open a hassle-free gold deposit account.

The minister also said that the government will establish a consumer-friendly and trade efficient system of regulated gold exchanges in the country.

Import duty on LNG set to go

In an attempt to promote the use of clean fuels, the government may offer a bonanza to the oil and gas sector by scrapping the 2.5 per cent import duty on LNG irrespective of end use.

The government had halved basic customs duty on LNG in last budget to 2.5 per cent from 5 per cent.

The fresh move will benefit gas consuming sectors such as fertilisers, petrochemicals and city gas distribution as these would now be able to reduce their cost by making LNG imports duty-free.

Kasganj clashes: Prime accused in murder of youth arrested

The prime accused in the murder of Chandan Gupta in Kasganj was arrested on Wednesday as the strife-torn western Uttar Pradesh town, which saw communal clashes last week, moved towards normalcy despite tension in some pockets, officials said.