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Two gunmen open fire outside Jamia University, police register case


New Delhi: The Delhi Police has registered an FIR in connection with the firing incident that took place near Jamia Millia Islamia University on Sunday night.

ACP Jagdish Yadav said, "Statements have been recorded. On their basis, FIR has been registered under the Indian Penal Code (IPC) Section 307/34 and Section 27 of the Arms Act." He said that a team will go to the spot and collect the CCTV footage from gate number five and seven. "Further details which will come out will be included in the FIR. Action will be taken," the ACP said.

 
 


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#WATCH Delhi: People gather in protest outside Jamia Millia Islamia University following an incident of firing at gate no.5 of the university. 2 scooty-borne unidentified people had fired bullets at the spot. SHO (Station house officer) is present at the spot. Investigation is on

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A statement was made by an eyewitness in the FIR saying, "On Sunday, at around 11:30 pm, at gate number seven, two people in a two-wheeler were approaching towards the Jamia University. The person on the pillion seat stood up and shot a bullet. They later escaped towards Holy Family Hospital." The firing incident was reported near gate number five at the university following which people including some students of the varsity gathered outside the Jamia Nagar police station. They returned from the Jamia Nagar police station after their complaint was registered.




China coronavirus outbreak: Death toll rises to 361, nearly 16,600 infected


Beijing [China]: The death toll in the coronavirus outbreak in China's Hubei province has risen to 361 with 56 people succumbing to the deadly virus, according to health authorities.

According to the Hubei health authority, authorities confirmed an additional 2,103 coronavirus cases in the province, which brings the total number of cases to over 16,600, CNN reported. As many as 9,618 people have been hospitalised, including 478 of them who are in critical condition.

 
 

Meanwhile, there are now nine coronavirus cases in the United States. There are four confirmed cases in California, two in Illinois and one each in Massachusetts, Washington and Arizona. Also, Russia has suspended passenger train service with China starting from February 3 over coronavirus concerns, state company Russian Railways said on Sunday, Sputnik reported.

On January 31, Russian Railways restricted passenger railway service with China, leaving only direct trains between Moscow and Beijing. Now, these trains are canceled too. The novel coronavirus was first detected in China's Wuhan in late December and has since spread to more than 20 countries. The World Health Organisation (WHO) on Thursday announced a public health emergency of international concern to prompt all nations to take precautionary measures.

 
 
 



5 injured after ceiling slab collapses in Andheri


Five persons, including a woman and her two children, were injured on Sunday at 11.15 am when a portion of a ceiling slab in a Slum Rehabilitation Authority building flat came off in suburban Andheri.

The incident occurred in Vishal Housing Society in Cama Park locality of the western suburb, an official said. "Naziya Feeroz Kalesha (25) and her two children, Rehan (2) and Azan (4), were sitting in her brother's flat, on the 7th floor of the building, when a portion of the ceiling slab collapsed, injuring all of them.

Naziya’s brother Rashid and another person, Sadik, too sustained minor injuries. Naziya’s uncle Habib Ahmed Sayyed said that all the five injured were taken to Cooper Hospital in Vile Parle and have been discharged.




Sule slams Centre, says hiding failures is their game-plan


“The Modi Govt at the Centre is trying to divert common man's attention from real issues to non-issues to hide their failures on various fronts. We should not fall in their trap and focus on serious issues like failure on economic front," said Supriya Sule, the NCP leader and Lok Sabha member, making an appeal to the people.

At the valedictory session of “Mumbai Collective”, a two-day conclave organised to celebrate freedom and pluralism, she came down heavily on the Modi government. "We should first understand Modi Govt’s game plan. Their game plan is to distract us from important issues. They do not want us to focus on their failures like in the economic sector. We should focus on their failures, misdeeds and expose them," she stressed amid thunder­ous applause from a huge gather­ing of youths at YB Chavan centre.

 
 

“Presenting the budget on Sat­urday, the Modi Govt raised the marriageable age of girls from 18 to 21 years. It was intended to divert the attention from the budget. Why a finance minister should talk of raising the marriage age? What is its relation with budget? And three TV channels also held discussion on marriages of girls instead of the budget. This is part of their game-plan of diverting people attention from the core issues," she elaborated.

“As a Member of Parliament, our job is to legislate and discuss the legislations and policies. But we too are busy on fighting the government on other issues which suits them," she said.

“There is no income for this govt. Till this 303 (LS members) are not broken away, they will not hear you," she added. "We all should introspect now. We too have now become over-reactive. The moves are getting divided on ideological lines," she added.

Attacking the Modi Govt for creating the atmosphere of fear in the country, she said everyone is scared of talking on the failures of government. "What will they do? They will send an Enforcement Directorate notice," she said.

Injustice to Maharashtra

Referring to the development of five heritage sites across the country, Sule said this is an injustice to Mahara­shrashtra. "Mumbai alone has five heritage sites. But none has been selec­ted while major part of taxes are sent by Mumbai,” she said.

"Maharashtra did not get Rs16,000 crore contribution of GST from the Centre. Even the relief announced by the Modi government during the Sangli-Kolhapur floods was yet to reach the flood victims," she said.

Expressing happiness, she said she was proud of being a Maharashtrian. She said, "I want Maharashtra to always set an example for the country. Modi did launch Swachh Bharat Mission ( cleanliness drive) and impleme­nted it effectively. But, this was originally started by RR Patil, the former Maharashtra minister.

“Maharashtra is a liberal state. We all are born and brought up in this culture. I promise our government in Maharashtra will now make the Mumbai University a liberal university and the next Mumbai Collective should be organised at the University's Hall," she said.

 
 
 



Budget 2020: Government to sell stake in LIC via IPO as part of disinvestment initiative


On Saturday, Finance Minister Nirmala Sitharaman said insurance behemoth Life Insurance Corporation (LIC) will be listed as part of the government disinvestment initiative. She further said that the listing brings in more financial discipline among the entities.

"Government will list LIC on the stock exchanges", she said in her Budget speech. The government proposes to sell a part of its holding in LIC through initial public offer, she said while unveiling Budget 2020-21. Currently, the government owns the entire 100 per cent stake in Life Insurance Corporation of India (LIC).

This could be the country's biggest initial public offering in recent times, the government will list Life Insurance Corp of India in the next financial year starting April. The proposal to list LIC is something which will be a big-ticket disinvestment proposal to push revenues of the government.

 
 

India's largest life insurer LIC's surplus for 2018-19 increased 9.9 per cent to Rs 532.14 billion. This was the first time that LIC's surplus crossed the 500-billion-rupee mark.

In her Budget proposal, she proposed that will the government will sell its stake in IDBI Bank to private investors and also amend Banking Regulation Act to strengthen co-op banks

The finance minister also said that the deposit insurance coverage against bank failure will be increased to Rs 5 lakh from Rs 1 lakh. "Accordingly, it is proposed to sell the government's balance holding in IDBI Bank to private retail and institutional investors through the stock exchanges," Sitharaman said during the presentation of Union Budget 2020-21.

"There is a need to take further steps to bring transparency and greater professionalism in public sector banks. The government will take such steps in the days ahead," she added. Earlier while speaking about Deposit Insurance and Credit Guarantee Corporation, she had said that they have been "permitted to increase deposit insurance coverage to Rs 5 lakh per depositor from Rs 1 lakh."

This is the second budget for Sitharaman, who became the second woman finance minister after Indira Gandhi to do so in the history of independent India. The Finance Minister on Friday tabled in Parliament the pre-Budget Economic Survey for 2019-20, which projected the state of the economy and outlined its challenges. The survey was released by Chief Economic Adviser Krishnamurthy Subramanian.

(Inputs from Agencies)

 
 
 



Nirmala vs Nirmala: Confusion reigns over Income Tax slab as FM's 2020 Budget speech contradicts itself


Finance Minister Nirmala Sitharaman on Saturday presented the Union Budget for 2020-21, announcing a new regime of personal income tax.

"Under the new personal income tax regime, individual taxpayers to pay tax at a reduced rate of 10 per cent for income between Rs 5 lakh and 7.5 lakh against the current rate of 20 per cent," Sitharaman said while presenting the Budget.

"Those with income between Rs 7.5 lakh to 10 lakh to pay tax at 15% against the current 20%. Those with income between Rs 10 to 12.5 lakh to pay tax at 20%, down from 30 per cent," she added.

 
 

However, further perusal of Sitharaman's Budget 2020-2021 speech reveals a contradiction of sorts.

"In the interim Budget of 2019, our government exempted individuals having income up to 5 lakh from paying any income tax," the transcript of the speech says.

"Those earning up to 5 lakh shall not pay any tax either in the old regime or in the new regime," the speech reiterates in another paragraph.

However, according to the same transcript, for those earning between 2.5 lakh and 5 lakh, both the existing tax rate and the new tax rate is 5%.

At the time of publishing this article, there had been no clarification on whether this income bracket will be taxed. Further details are awaited.

 
 
Photo: indiabudget.gov.in/doc/Budget_Speech.pdf/ Screengrab
 

The lower income tax rates will apply only those for individuals foregoing exemptions under Section 80C, 80D, LTC, HRA among others.

At present, those earning upto Rs 2.5 lakh a year are exempted from income tax. The current income tax rate for those earning from Rs 2.5 lakh to Rs 5 lakh is 5 per cent but availing the deductions and exemptions, they can bring down their tax liability to nil.

 

The reduction in tax rates is set to boost sentiments and add to the purchasing power of the people. The measures are aimed at addressing the demand side concerns.

On account of lower income tax rates, the government would forego a total revenue of Rs 40,000 crore in a year.

Many experts had earlier said that most measures announced by the government to boost the economy were aimed at addressing the supply side concerns while there was a need to take measures to push consumption demand.

(With inputs from agencies)

 
 
 



Sensex tumbles over 700 points as Finance Minister Nirmala Sitharaman presents Budget 2020


The Union Budget for financial year 2020-21 has so far been unable to bring cheer to the market and the equity indices slumped with the BSE Sensex falling over 700 points.

Around 1.30 p.m, the Sensex touched an intra-day low of 40,015.37, 708.12 points lower than the previous close of 40,723.49 points.

However, it has recovered from the low and at 1.39 p.m. it was trading at 40,188.53, lower by 534.96 points or 1.31 per cent from the previous close of 40,723.49

It had opened at 40,753.18, and has so far touched an intra-day high of 40,905.78 and a low of 40,015.37 points.

The gainers on the Sensex so far were Hindustan Unilever, TCS, ITC, Infosys and HCL Technologies. The major losers were Larsen and Toubro, HDFC, ICICI Bank, Bajaj Finance and Kotak Mahindra Bank.

The Nifty50 on the National Stock Exchange was trading at 11,799.85, lower by 162.25 points, or 1.36 per cent from the previous close.

 
 
 



Good news for Taxpayers: Nirmala Sitharaman announces reduction in Income Tax slabs in Budget 2020


On Friday, Finance Minister Nirmala Sitharaman proposed to lower personal direct tax in today's budget speech.

"In order to provide significant relief to individual taxpayers and to simplify the income tax law, I propose to introduce a new personal income tax regime where rates will be significantly reduced for the individual taxpayer who forego certain exemptions. New income tax rate regime is optional," said FM Nirmala Sitharaman.

"Under the new regime, an individual will be required to pay tax at a reduced rate of 10% between income of Rs 5-7.5 lakh, down from the previous 20 percent. 15 per cent tax for 7.5 lakh to Rs 10 lakh income. 25% tax for income between 12.5 lakh to 15 lakh and 30% tax for income above 15 lakh," FM Sitharaman announced in the Budget presentation today.

New Personal Income Tax Regime:

Rs 0 to Rs 2.5 lakh: Expemted

Rs 2.5 to Rs 5 lakh – Is 5%

Rs 5 to 7.5 lakh – Decreased to 10% from 20%

Rs 7.5 to 10 lakh – Decreased to 15% from 20%

Rs 10 to 12.5 lakh – Decreased to 20% from 30%

Rs 12.5 to Rs 15 lakh – Decreased to 25% from 30%


NSitharamanOffice

@nsitharamanoffc
Significant relief to taxpayers. #janjankabudget #Budget2020

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This is the second budget for Sitharaman, who became the second woman finance minister after Indira Gandhi to do so in the history of independent India. The Finance Minister on Friday tabled in Parliament the pre-Budget Economic Survey for 2019-20, which projected the state of the economy and outlined its challenges. The survey was released by Chief Economic Adviser Krishnamurthy Subramanian.

The Union Budget is the financial statement of the government, detailing its revenue and expenditure in the past, as well as estimated spending and projections for the coming year. Sitharaman had presented her maiden budget in July last year, shortly after the BJP-led government came back to power in the Centre in the 2019 Lok Sabha elections.

Till 2016, the Union Budget was presented on the last working day of February. Former finance minister Arun Jaitley had changed the tradition in 2017 when the Union Budget was presented on February 1.

 
 
 



Budget 2020: 'Estimated nominal growth of GDP for 2020-21 at 10%', says Nirmala Sitharaman


 

New Delhi: Union Finance Minister Nirmala Sitharaman, holding a folder containing the Union Budget documents, poses for photographers along with her deputy Anurag Thakur and a team of officials, outside the Ministry of Finance, North Block in New Delhi, Saturday, Feb. 1, 2020. Photo: PTI

Finance Minister Nirmala SItharaman on Saturday said that the estimated nominal growth rate of GDP for the year 2020-21 on the trends available, was at 10%.

"We estimate a fiscal deficit of 3.8% in RE 2019-20 and 3.5% for BE 2020-21," the Finance Minister added.

Receipts for 2020-21 is estimated at 22.46 lakh crore rupees, and expenditure at 30.42 lakh crore rupees, she said.

 
 

While presenting the Union Budget, Finance Minister Nirmala Sitharaman also said that the Central government's debt had reduced to 48.7% of GDP in 2019 from 52.2%.

The govt had also clocked a GDP growth of 7.4% over 2014-19 & FDI increased from $119 bn in 2009-14 to $ 284 billion, she said.

"There are one million people out of poverty and we should be proud of it. We have moved on from over 4% growth in 1950s to 7.4% to 2014-19 period," the Finance Minister said.

"Motto of 'Sabka saath, sabka vikas and sabka vishwas' has implemented new programmes for the poor and disadvantaged under Prime Minister Modi," she added.

"We have clocked a GDP growth of 7.4% over 2014-19 and FDI increased from $119 billion in 2014-19 to $284 billion", she said.

Economic Development would entail reforms across the economy and more space for the private sector. She said the Budget is woven around 3 prominent themes -- aspirational India, economic development and a caring society.

 

(With inputs from agencies)

 
 
 
 
 
 



CAA Protest: One student injured in firing during demonstration in Jamia area, accused arrested


A man was seen waving a gun during the ongoing protest against the Citizenship Amendment Act in Jamia area of ​​Delhi. The young man continued to show the gun fearlessly in front of the police. He then opened fire in which a student was injured. However, it is claimed that the student was shot not by the young man but by the police. The student was taken to Holy Family Hospital. At present, the police has arrested the young man.

The incident occurred during the march from Jamia Millia Islamia Universiti to Rajghat. It is surprising that under such tight security, the young man reached there with a gun. People present there say that during this time, the accused youth was shouting slogans of Bharat Mata ki Jai, Delhi Police Zindabad and Vande Mataram.





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