FREE PRESS The publishers permit sharing of the e-paper's pdf on WhatsApp and other social media platforms INTERIM BUDGET KEY TAKEAWAYS nThe government is focused on more comprehensive GDP - governance, development, performance. nThe government has brought 250 million people out of poverty in 10 years nCrop insurance scheme benefits will reach 40 million farmers. nInflation has moderated and economic growth has picked up. nTax reforms have widened the tax base and increased tax collections. nNext five years will see unprecedented economic growth in India. nIndia's economy, the fastest growing among major nations, is going through profound change. nGovernment aims to make the country 'Viksit' (developed) by 2047. nThe next five years will be years of unprecedented development and golden moments to realize the dream of developed India by 2047. nGovernment will launch a new scheme to strengthen deep tech for defence purposes. nGovernment will help deserving sections of middle class to build their own houses. nThe government will build 20 million affordable houses in the next five years, to add to the 30 million houses built already. nSuccess of self-help groups empowered 1 crore women to become "Lakhpati didis". nFY24 fiscal deficit seen lower than target at 5.8% of GDP; pegged at 5.1% in FY25 with aim to reduce it to 4.5% by FY26. nNo changes in taxation both direct and indirect. nTax benefits for startups, investments made by sovereign wealth, pension funds to be extended to March 2025. nThe government will invest significantly in the tourism sector in the country. n Union Territory of Lakshadweep will get undivided attention from the government to improve its tourist infrastructure. VOL. 13 NO. 230 | BHOPAL | FRIDAY | FEBRUARY 2, 2024 | PAGES 16 WASHINGTON:The US Federal Reserve Bank has kept the interest rate unchanged for the fourth consecutive time after its customary two-day meeting, saying the "economic outlook is uncertain" despite the economy was "expanding at a solid pace". The Fed has kept the rate at 5-1/4 to 51/2 per cent. "The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward two per cent," the Fed said on Wednesday in a statement after the meeting of the Federal Open Market Committee, the top - r Regd. No. Indore MP/ICD 216/2021-2023; r RNI No. mpeng/2010/35815 NEW GDP FOR VIKSIT BHARAT SARFARAZ HOPES TO JOIN LEAGUE OF LEGENDS RICHARDS, KOHLI, MIANDAD SPORTS EDIT BUDGET WITH FOCUS ON THE ELECTIONS 29.40c. 12.80c Sunrise : 07.07 Sunset : 06.13 LUXE HOME WOES CINEMA GOVT PEGS FY'25 disinvestment target at NO CHANGES in direct, INCOME TAX now the biggest income generator for govt `50,000 cr; to get `30,000 cr this fiscal indirect tax rates OTHER ANNOUNCEMENTS AGENCIES New Delhi Union Finance Minister Nirmala Sitharaman on Thursday said that Governance, Development and Performance is the new 'GDP' formula that the government has adopted to steer the country to a 'Viksit Bharat' (Developed India). Addressing a post-budget press conference, the Finance Minister said that the Governance was evident in the way that the government had managed and steered the economy and the development was reflected in the better standard of living of the people with average income having gone up by 50 per cent. The performance of the government could also be seen in the fact that the economy had been growing at over 7 per cent for three consecutive years and inflation in the country had come down. She also highlighted the fact that the government had cleaned up the banking system which was earlier carrying a huge burden of non-performance assets or bad loans that had led to losses. She pointed out that the government had succeeded through proper management of its finances to bring down the fiscal deficit to 5.8 per cent of GDP which was even lower than the targeted level of 5.9 per cent for 2023-24. Now with the fiscal deficit target having been fixed at 5.1 per cent the country was well on its way to achieve the glide path of a fiscal deficit at 4.5 per cent of GDP by 2025-26. CONTD. ON P8 n Space to get more, atomic power less n Blue Economy 2.0: Five integrated Aqua Parks to be set up n More medical colleges n Govt to form committee to address fast population growth n Big push to tourism, states to get long-term loans n Major thrust to boost farmers’ incomes, aims for self-reliance in oilseeds n Rs 1 lakh cr corpus with 50-yr, interest free loans for tech-savvy youth n MGNREGS outlay at 860 bln rupees for the next financial year starting April, unchanged from the revised estimate for 202324 . President Droupadi Murmu with Finance Minister Nirmala Sitharaman during a meeting before the latter presents the Interim Budget 2024 at Parliament, in New Delhi on Thursday Magnus Carlsen & Praggnanandhaa Ram Mandir finds mention Finance Minister Nirmala Sitharaman, while presenting the Interim Budget 2024 in the Lok Sabha on Thursday, mentioned the remarkable progress Indian chess players have been making on the 64 squares. She was presenting her sixth budget, having first done so in 2019. She has now equalled the record tally of former Prime Minister Morarji Desai. While speaking of the progress India has made in the sphere of sports, she singled out the 18-yearold grandmaster from Chennai, R Praggnanandhaa, for his exploits in 2023. The Interim Budget also saw a mention of the consecration ceremony of the Ram Mandir in Ayodhya. Listing out the expected benefits of the rooftop solarisation programme the FM said the scheme is being implemented following the Prime Minister's "resolve" to do so after the historic ceremony on January 22. After returning to New Delhi from Ayodhya, Prime Minister Narendra Modi had indicated that the decision was inspired by the realisation that "all devotees of the world get energy from the light of Suryavanshi Lord Shri Ram". uarantee to strengthen the foundation of 2047 'Viksit "This will empower GBharat'" mission.youth,Budgetwomen, and thethe four ispillars of Vikshit Bharat - the poor, farmers. It a Budget Housing scheme for middle-class The FM said said that the government will launch a scheme to help deserving sections of the middle class living in rented houses, slums, chawls and unauthorised colonies to buy or build their own houses. “Despite the challenges due to COVID, implementation of the scheme continued and the government is close to achieving the target of three crore houses,” she said while presenting the Interim Budget in Lok Sabha. She said that two crore more houses will be taken up in the next five years to meet the requirement arising from increase in the number of families. which will transform the future of India, and strengthen the foundation for a Viksit Bharat by 2047. PRIME MINISTER NARENDRA MODI Hemant Soren sent to one-day judicial custody A Ranchi-based PMLA court sent former Jharkhand Chief Minister Hemant Soren to one-day judicial custody in a money laundering case linked to an alleged land scam. The ED arrested Soren at 8.30 p.m. on Wednesday after interrogating him for about eight hours. He was later taken to the ED office on Airport Road Ranchi. He spent the whole night in the office guest house. Soren was brought to the special PMLA court at around 3.30 p.m. on Thursday. In the court, ED sought Soren's remand for 10 days. Lawyers from both the sides argued. ED lawyers said that for further investigation in the Ranchi land scam, it is necessary to interrogate Soren on many points. On the other hand, Soren's lawyers opposed the ED's demand for remand and said that a Special Leave Petition (SLP) has been filed in the Supreme Court challenging the ED's action, which is to be heard on Friday . After hearing both the parties, the court reserved the decision for Friday and ordered to send him to judicial custody till then. Following the court order, he has been taken to Birsa Munda Central Jail, QUALITY AT VALUE www.freepressjournal.in EDITIONS: INDORE, BHOPAL, UJJAIN, MUMBAI, PUNE RANCHI NEWS BRIEF Fed keeps interest rate unchanged `3 WEATHER FP MOVES SC AGAINST ARREST NEW DELHI: Former Jharkhand chief minister Hemant Soren today moved the Supreme Court against his arrest by the Enforcement Directorate in connection with a money-laundering case..A bench headed by Chief Justice of India DY Chandrachud agreed to list the case on Friday before an appropriate bench. Counsel for Soren said they would withdraw their petitions from the Jharkhand High Court. Soren had moved the high courtafter his arrest. "How can a man be arrested like this?" Kapil Sibal, appearing for Soren, said.. "Arrest memo says 10 o'clock, they say arrested at 5pm. Very serious matter." Ranchi. Preparations are being made to keep him in the upper division cell in this jail. Rs 1249 cr for salaries of min, ex-guvs AGENCIES NEW DELHI The interim budget 2024-25 on Thursday allocated Rs 1,248.91 for the expenses incurred by the council of ministers, cabinet secretariat, prime minister's office, and on hospitality and entertainment of State guests. The allocated amount is substantially lower than Rs 1803.01 crore earmarked in 2023-24. A total of Rs 832.81 crore has been given for the expenses of council of ministers (Rs 1289.28 crore in 2023-24). The provision is for expenditure on salaries, sumptuary and other allowances and travel by cabinet ministers, ministers of state and ex-prime ministers. This also includes provision for special extra session flight operations for VVIPs. The National Security Council Secretariat has been allocated Rs 200 crore (Rs 299.30 crore in 2023-24). The provision is for meeting the administrative expenses and space programme of the National Security Council Secretariat. As much as Rs 76.20 crore has been given to the office of principal scientific advisor (Rs 75 crore in 2023-24). CONTD. ON P8 Sensex ends in red on Budget day The domestic market was marginally disappointed by lower than expected infra spending in the Interim Budget, Vinod Nair, Head of Research at Geojit Financial Services, said. However, the govt’s commitment to fiscal prudence, targeting a fiscal deficit of 5.1 per cent for FY25BE, is expected to improve the outlook on economic ratings. This led to a significant drop in India's 10-year yield by 100 bps to 7.04 per cent, reflecting optimism due to lower-thanexpected government borrowing, Nair said. The Nifty 50 fell 67 points to hit an intra-day low of 21,658.75 .before ending 28 points, or 0.13 per cent, lower at 21,697.45. n Tax rebate scheme for garments' export extended by 2 years. ‘Nothing for poor, women & youth’ Leaders of the Indian National Developmental Inclusive Alliance (INDIA) on Thursday said that there is "nothing" in the Union Interim Budget for the poor, women, and youth, while calling it a new "jumla." Delhi Minister Atishi said, "The budget proves that this is a 'jumla' government. Prime Minister Narendra Modi had said in 2014 that he would provide 2 crore jobs every year, but not even one crore people got jobs. Today they have given a new 'jumla' that they will give 55 lakh jobs..." "No step has been taken to reduce the inflation..." she alleged. nder the leadership of PM are making Uefforts today and itcountry Modi, all departmentsbudget was to take the forward. The interim presented is focused on the poor, women, youth US clears sale of 31 MQ-9B armed drones NEW DELHI:The US has cleared the sale of MQ-98 Sea Guardian drones to India in a deal nearly worth $4 Billion. The Defence Security Cooperation Agency has delivered the required certification, notifying the US Congress of the possible sale today . India had proposed to purchase 31 MQ-9B Sky Guardian drones during Prime Minister Narendra Modi's state visit to the US last year. The Biden administration's approval is a landmark in the government-to-government deal. "This proposed sale will support the foreign policy and national security objectives of the United States by helping to strengthen the U.S.-Indian strategic relationship and to improve the security of a major defence partner which continues to be an important force for political stability, peace, and economic progress in the Indo-Pacific and South Asia region," Defence Security Cooperation Agency said. "The proposed sale will improve India's capability to meet current and future threats by enabling unmanned surveillance and reconnaissance patrols in sea lanes of operation. India has demonstrated a commitment to modernizing its military and will have no difficulty absorbing these articles and services into its armed forces," the agency added. The critical defence deal was in the works for close to six years and Prime Minister Narendra Modi's US visit marked the final go-ahead and the government-to-government $3.99 billion deal was finalized. The 31 drones will be used by the Indian Army, Navy and the Air Force. The approval by the US agency comes at a time when media reports were circulating that the US had put the deal on hold over the alleged failed plot by an Indian national to kill Indiadesignated Khalistani terrorist Gurpatwant Singh Pannun. CONTD. ON P8 MP GETS CEMENT, MINERAL CORRIDORS and farmers. This budget has highlighted PM Modi's pledge for the welfare of these categories. CM MOHAN YADAV OUR STAFF REPORTER City.bhopal@fpj.co.in. * Rs 2 lakh per beneficiaries will be given for housing in tribal areas under Jan-Dhan Yojana. Earlier, it was Rs 1.40 lakh. Approval has been granted for 38 lakh houses in 52 districts and now the state government has claimed that 32 lakh houses have been completed, so the state will get financial assistance for 6 lakh houses under the PM Awas Yojna. MP will get OTHER BENEFITS financial assistance for 9 with cervical cancer lakh houses under PM vaccines. Similarly, ASHA Madhya Pradesh has Awas Yojna (rural). The workers have been got major parts of state has already given inducted into Ayushman three major economic assistance for 2 lakh Yojana. Railway corridors— houses. energy, mineral and * Around 3 crore women cement in the interim * Rs 3,500 crore will be will be benefited under budget announced on given to MP for KenLakhpati Didi Yojna. Thursday . Betwa link project, which Around 15 lakh women The state is rich in will benefit nine districts— are already getting production of cePanna, Tikamgarh, benefits. 12.5 lakh ment and minerals. Chhatarpur, Sagar, beneficiaries will get It will increase 10% Damoh, Datia, Vidisha, benefits under the PM revenue from fright. Shivpuri and Raisen. Mudra loan. Rs 3,578 Besides, the state crore has already been *Over 48 lakh girls of the will get Rs 6,500 given. state will be benefited crore additional due to better contribuRS 15,143 CR FOR RAILWAY PROJECTS tion to the Central Railway minister Ashwin Vaishnav said, “Rs 15,143 crore has been allocated for Railway projects tax. Airport develop- linked to MP. In the next 5 years, Rs 77,000 crore will be invested for the Railway in MP.” ment has been proposed air connectivity will interest free Rs 75,000 much better scope for on new 517 routes and crease. The state will crore allocation for tourism at Orchha’s lord this will help the state as also get benefits from intourism. The state has Ram temple. Agri officer exam result withdrawn in 48 hrs OUR STAFF REPORTER city.bhopal@fpj.co.in The Employees Selection Board has withdrawn the result of senior agriculture officers of group-1 and 2 ‘because of technical reasons’ in just 48 hours after announcing it on Tuesday The ESB . has announced the result of the sub group-1 conducted on July 15, 2023. The exam was taken to fill more than 2,000 posts. The vacancy was called to fill the posts of senior agriculture officer and horticulture officer. In group -2 the exam was taken to recruit agriculture extension officers and horticulture extension officers. According to the ESB official statement, “The bonus marks allocated to certain categories were not given, so the board had decided to withdraw the result. The revised exam result will be announced shortly .” It is also stated, “The board is filing caveats in the High Court. If anyone files the petition a copy of the petition shall be given to the board advocates.” Sources said that when the bonus marks will be added into the certain categories, many selected candidates will be disqualified and many of them will be going to get selected. Avalanche warning issued for eight districts of J-K SRINAGAR: Jammu and Kashmir State Disaster Management Authority issued an avalanche warning for eight districts of the Union Territory on Thursday, officials said. Avalanches with medium danger levels are likely to occur above 2400 metres above sea level over Bandipore, Baramulla, Ganderbal, Kupwara, Doda, Kishtwar, Poonch, and Ramban districts in the next 24 hours, Disaster Management Authority officials said.