Tag: Budget 2023

India has enough forex reserves to keep the rupee strong for 5-6 years, says Piyush Goyal

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Union Commerce and Industry Minister Piyush Goyal on Friday (December 8) said India’s current level of foreign exchange reserves and remittances are enough to keep the currency and economy strong for the next 5-6 years even at the current levels of Current Account Deficit (CAD) and trade deficit.

A country experiences a current account deficit when it exports less money to foreign entities than it imports from them. Typically, the primary contributor to a current account deficit is the trade deficit, which represents the difference between the total value of exported goods and the total value of imported goods.

ALSO WATCH: The BJP coalition may get a bigger win in 2024, says Piyush Goyal

For the April-June period of 2023, India’s current account deficit narrowed to $9.2 billion or 1.1% of GDP. The current account deficit stood at $17.9 billion or 2.1% of GDP in the year-ago period. Coming to India’s October 2023 trade deficit, it widened to $31.46 billion, compared to $26.31 billion in the same month last year.

As of December 1, 2023, India’s foreign exchange reserves have experienced a notable increase, reaching a total of $604 billion. This achievement marks a significant milestone, surpassing the $600 billion mark after a gap of approximately four months. To provide context, in December 2019 before COVID-19, India’s foreign exchange reserves stood at the $450-billion mark.

Also Read: India’s circular economy likely to touch $2 trillion by 2050

The Indian rupee’s valuation against currencies of major trading partners has surged to a near two-year high on Reserve Bank of India (RBI) intervention and elevated domestic inflation. The central bank routinely engages in market interventions to manage liquidity, a process that may include the sale of dollars. The objective is to prevent a substantial depreciation of the rupee.

Assuring the industry that India will retaliate and stand up for what’s right for its industry in the Carbon Border Adjustment Mechanism (CBAM), the Minister said that India is gaining confidence & understanding of its true standing as it looks to become the world’s third largest economy in next few years.

Addressing FICCI‘s 96th Annual Convention in Delhi, the Minister urged businesses to not give bribes at any cost and rather become whistleblower to help the government completely eliminate corruption.

Stating that the election year 2024 would we critical for the country in terms of determining stability, he expressed hope for the ruling BJP-led Central government to mark a hattrick in power next year at the back of 3 recent victories in assembly elections.

Pointing out that countries as far as Peru and Chile are urging India to swiftly negotiate and sign FTAs, he said that many countries are aiming to trump the duration of the India-UAE FTA negotiations, which were concluded in a record 88 days.

While he said that BEST in Mumbai is aiming to make its transport operations profitable after electrification of the entire fleet, he added that EVs and better roads now facilitate the travel of a family of 4 or 5 people from Delhi to Mumbai within 12 hours in a cost less than $100.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India releases new sickle cell anaemia guidelines — here’s all you need to know

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India has released new sickle cell anaemia guidelines aimed at enhancing the screening, awareness, and treatment of the disease. The guidelines, developed by the Indian Council of Medical Research (ICMR), emphasise the importance of early intervention and aggressive management of the disease.

The Standard Treatment Guidelines for Sickle Cell Anemia Disease were unveiled by Minister of State for Health and Family Welfare Bharati Pawar on May 8, 2023.

In the 2023-24 Union Budget, Finance Minister Nirmala Sitharaman had announced India’s aim to eradicate sickle cell anaemia by 2047. Under a new scheme announced this February, the Centre plans to screen 70 million Indians in affected tribal areas under the age of 40 years.

ALSO READ | Budget 2023 | Sickle cell anaemia to be eradicated by 2047, FM announces scheme

Sickle cell anaemia is a genetic blood disorder characterised by the abnormal sickling of red blood cells under conditions of low oxygen levels or stress. According to the Ministry of Tribal Affairs, about one in 86 births among Scheduled Tribes have sickle cell disease.

The new guidelines outline different subtypes of the disease, including carriers (heterozygous), individuals with the disease (homozygous) and other symptomatic genetic variants.

The manifestations of sickle cell disease include pain and anaemia, while its long-term complications can be much more serious and lead to problems such as end-organ damage and pulmonary hypertension.

Clinical manifestations of sickle cell disease

• Common presentations: Pain, anaemia, icterus (jaundice), increased risk of infection
• Acute morbidity/events: Splenic sequestration (happens when a lot of sickled red blood cells become trapped in the spleen, causing enlargement of the organ), fatigue, acute chest syndrome, priapism (a prolonged erection of the penis)
• Long-term complications: End-organ damage, hepatopathy (liver congestion), chronic kidney disease, hypersplenism (overactive spleen), avascular necrosis of the femur, osteomyelitis (bone infection), pulmonary hypertension, cholelithiasis (gallstones), functional disability, retinopathy (a complication of diabetes where the eye’s blood vessels damaged), foot ulcers (refer to a higher centre for adequate management)

Screen target groups

To address the disease comprehensively, the guidelines recommend screening specific target groups. Antenatal mothers or those planning pregnancy should undergo comprehensive blood tests, including complete blood count (CBC), solubility tests or point-of-care tests for sickle cell anaemia.

Newborns should also be screened using point-of-care tests, and if available, high-performance liquid chromatography (HPLC) or electrophoresis can be conducted at a later stage.

Prevention of sickle cell disease

The guidelines highlight the importance of prophylaxis and management for sickle cell anaemia patients. Prophylaxis measures include penicillin, immunisations, folic acid supplementation, and vaccinations against diseases such as pneumococcal infection, meningococcal infection, H-influenza, typhoid, influenza, and COVID-19.

ALSO READ | India is going to screen 70 million people in its fight against sickle cell anaemia

Hydroxyurea (HU) is recommended as a disease-modifying agent for patients above two years of age, with dose adjustments based on age and weight.

Treatment for sickle cell disease

The guidelines provide specific dosing instructions and caution against potential side effects. The only curative therapy for sickle cell anaemia is hematopoietic stem cell transplantation, which is recommended for a small subset of patients who do not respond to other treatment options.

The guidelines recommend prompt and effective pain management using medications such as paracetamol, diclofenac, or tramadol. Severe pain cases should be referred to higher centres for specialized care.

Education and genetic counselling

In addition to medical management, the guidelines emphasise education, genetic counseling and support for patients and their families. Patients and parents are educated about the disease, the importance of early diagnosis through newborn screening, and the need for regular clinical follow-ups.

Genetic counselling is provided to explain the carrier state, the risk of having an affected child, and the inheritance pattern. Preconception care counselling is recommended for at-risk couples.

ALSO READ | Novartis wants to be the lead partner in India’s battle against cancer: Exclusive

The guidelines also underscore the significance of early and aggressive management of pain and infections to improve long-term outcomes for sickle cell anaemia patients. Early detection, comprehensive care, and appropriate support systems can make a significant difference in the lives of individuals affected by this chronic condition.

With the release of these new guidelines, India aims to strengthen its approach to managing sickle cell anaemia, ultimately improving the quality of life and life expectancy of affected individuals.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Lok Sabha applies guillotine to pass Budget, Finance Bill — what is it

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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With the ongoing logjam in the Parliament, Lok Sabha Speaker Om Birla ordered a guillotine to pass the Budget and the Finance Bill this week, helping clear the demands of grants of various ministries without discussion in the face of Opposition disruption. But what is the “guillotine.”

What is a guillotine?

A guillotine is a parliamentary procedure that is used to fast-track the passage of a bill without discussion. It is usually applied when the government is keen on passing a bill but the opposition is blocking the same. The procedure involves voting on all outstanding clauses and amendments to a bill at once, which reduces the time required for debate and discussion.

Why is it being applied here?

The Lok Sabha passed the Budget 2023 and the Finance Bill 2023 on March 23 and 24, respectively. Both were passed without discussion amidst ruckus by the Opposition over the Adani-Hindenburg issue.

The ongoing logjam in the Parliament has stalled proceedings, which has led to delays in the passage of important bills and legislation. The guillotine procedure was applied to the Budget and the Bill so they could be put to vote without further delay.

ALSO READ | Lok Sabha passes Rs 45 lakh crore Budget for 2023-24 without debate

Once the Budget was passed on Thursday, the lower house took up the Finance Bill on Friday, which is critical for the government’s functioning.

The Centre had to secure the Lok Sabha’s approval for the Budget in this session. However, the discussions on the report have been stalled due to the Opposition’s protests demanding a Joint Parliamentary Committee probe on the Adani Group. The guillotine procedure helps the government to pass the Budget and other important bills without further delays.

The first sign that the government would opt to “guillotine” the Budget came on Tuesday when the Lok Sabha cleared the Jammu and Kashmir budget without any discussion.

ALSO READ | Finance Bill 2023 passed in Lok Sabha — check key amendments and highlights

Both Birla and Rajya Sabha Chairman Jagdeep Dhankhar had convened a meeting of floor leaders on Tuesday, but a truce could not happen as BJP as well as Congress-led Opposition parties refused to drop their respective demands.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Lok Sabha passes Rs 45 lakh crore Budget for 2023-24 without debate

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Lok Sabha on Thursday approved the Union Budget envisaging an expenditure of around Rs 45 lakh crore for the fiscal year starting April 1 without any discussion, as the Opposition continued to create ruckus over demand for a JPC probe into allegations against the Adani Group.

The Lower House of Parliament took up the Demands for Grants and Appropriation Bills after two adjournments as the ruling and Opposition MPs engaged in a matching duet over demands for an apology by Rahul Gandhi and the Adani issue. Most of the second leg of the Budget Session has been washed out due to the protest by both sides and it was one of the rare occasions when the Budget was passed without any discussion.

Soon after the Lok Sabha reassembled at 6 pm after two adjournments, Speaker Om Birla put the Opposition’s cut motion or amendments to the government spending plan to vote which was rejected by voice vote. This was followed by Finance Minister Nirmala Sitharman moving the demands for grants for 2023-24 and relevant Appropriation Bills for discussion and voting. Birla applied guillotine and put demands for grants of all ministries for voting. The demands were passed as the Opposition MPs trooped into the Well of the House shouting slogans.

Prime Minister Narendra Modi was present during the passage of Budget for 2023-24.

The entire exercise was over in 12 minutes completing two-third of the parliamentary approval for the Budget for 2023-24.

The Finance Bill 2023, which contains tax proposals that Sitharaman had moved while presenting the Budget on February 1, will now be taken up by the Lok Sabha possibly on Friday.

All the budget-related bills will be transmitted to Rajya Sabha, which cannot make any changes but only return them to the Lok Sabha after discussion as they are classified as ’money bills’ requiring approval of the Lower House only.

The current Parliament session is scheduled to end on April 6. There is speculation that the duration of the session may be curtailed after completion of the budgetary exercise.

Unlike the past, the Lok Sabha this time did not discuss the Demands for Grants of the identified ministries. The Business Advisory Committee had approved discussion on the ministries of railway, rural development, health and family welfare, Panchayati Raj, tribal affairs and, tourism and culture.

However, no discussion could take place because of continuous disruption of the House after it reassembled for the second leg of the Budget session.

According to the Budget papers, the total expenditure in 2023-24 is estimated at Rs 45,03,097 crore, of which total capital expenditure has been pegged at Rs 10,00,961 crore.

During the current financial year ending March 31, 2023, the total expenditure has been estimated at Rs 41,87,232 crore, which is more than the outlay of of 2021-22 by Rs 3,93,431 crore.

Besides other things, the Budget 2023-24 reflects continuing commitment of the Union government to boost economic growth by investing in infrastructure development and increasing capital expenditure by 37.4 per cent over revised estimate of 2022-23.

Effective capital expenditure has been estimated at Rs 13,70,949 crore in 2023-24 showing an increase of 30.1 per cent over RE 2022-23.

With regard to fiscal deficit, the Budget proposed to bring it down to 5.9 per cent of the GDP from 6.4 per cent likely in the current financial year.

To finance the fiscal deficit in 2023-24, the government plans the net market borrowings at Rs 11.8 lakh crore from dated securities.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Tax on high-value policies, composite license issue to guide life insurance sector in next one year

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Post the recent budget 2023 announcement of withdrawing taxation exemption on high ticket insurance policies, all eyes are on how strong the premium growth numbers will be in the last months of the fiscal. The February business data showed divergent growth trends for retail annual premium equivalent (APE) with private insurance players reporting 18 percent growth and Life Insurance Corporation (LIC) a decline of 3 percent.

Expectantly, the retail APE growth was led by ticket size growth as opposed to the quantum of policies sold. The overall average ticket size for regular premium policies grew by 32 percent whereas the policy count was down 15 percent. This ticket size led growth should be seen in the context of a likely pre-booking of high-ticket (>Rs 5 lakh) non-ULIP policies in the month of February and March.

Analyst estimates suggest that this growth trend is likely to continue in March and the companies will see a premium growth of anywhere between 15 percent to 40 percent compared to the 5-10 percent growth same time last year. However, the number that needs to be monitored is the number of policies sold.

With all the negative sentiments around the budget announcement, few amendments that can work in the favour of the sector are issuing composite business license and regulations on limits on expense of management. The composite business licence will facilitate open access to the company to operate in any kind of business and simplifying the existing regulations on commission expense and expense of management (EoM) gives companies more flexibility on their commission pay out structures.

However, the real question is that will these amendments outweigh the negative impact brought on from the budget announcement. Life Insurance stocks have corrected anywhere between 11-23 percent since the budget day. Almost all of them are now at their 52-week lows.

When you see their valuations that is price/embedded value on a 1 year forward basis and compare it to pre-budget levels – it has corrected quite a bit. HDFC life seeing the most correction(3.8x vs 2.2x ), followed by SBI Life (2.9x vs 2.0x) and Max Financials(2.0 vs 1.2x).

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Tamil Nadu budget 2023: CM Stalin announces Rs 1,000 monthly assistance for women

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Tamil Nadu Chief Minister MK Stalin on March 20 launched the much awaited scheme of providing Rs 1000 per month to female heads of households in the southern state.

The detailed process to avail benefits of the monthly assistance scheme will be released soon, he said, as he allocated to Rs 7,000 crore to the initiative in the state budget for the financial year 2023-2024.

The announcement came as Tamil Nadu FY24 budget was tabled today.

The scheme was a key poll promise by Chief Minister MK Stalin’s Dravida Munnetra Kazhagam (DMK) party. During his campaign for the Erode (east) by-poll, the CM declared the Budget would declare the date for the launch of the scheme that will provide Rs 1,000 to women heads of households in the state:

On February 27, when Stalin, also the president of DMK, hit the campaign trail for Erode (East) bypoll on the last day of canvassing votes, said his party never failed to execute its promises or announcements.

The DMK’s poll promise of providing Rs 1,000 per month to every woman head of the family will certainly be implemented, he had asserted. His remarks came following severe criticism from Opposition parties who have been questioning the government over the alleged delay in rolling out the initiative.

Also Read | Himachal Pradesh budget 2023: Top pension schemes and announcements for women and youth

The CM said 85 percent of the DMK’s election promises have been implemented and the rest would be done by the end of this year.

Tamil Nadu finance minister Palanivel Thiaga Rajan presented the budget for 2023-24 at 10 am. Speaker M Appavu had earlier said the finance minister would table the vote on account for the first few months of 2023-24 and final supplementary estimates for 2022-23 on March 28.

“Soon after the budget is presented, the business advisory committee will decide on the dates for the presentation of the agriculture budget and debates for the demand for grants for various government departments,” Appavu said.

Also Read | Assam Budget: State FM announces 40,000 fresh govt jobs, says will invest more to create 2 lakh entrepreneurs

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Himachal Pradesh budget 2023: Top pension schemes and announcements for women and youth

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Himachal Pradesh chief minister Sukhvinder Singh Sukhu on Friday presented the first annual budget in his tenure for the financial year 2023-24 in the state assembly. The chief minister announced several schemes for the welfare of citizens, including women and youth. He also said that Himachal Pradesh will be made the model state for adopting electrical vehicles in the state’s public transport.

Here are key announcements made by Himachal Pradesh’s CM:

Women welfare

In the first phase, Sukhu said that 2,31,000 women will get Rs 1,500 per month as promised, adding that the payout will cost Rs 416 crore per year to the exchequer. Additionally, he said that Rs 1.50 lakh would be provided to 7,000 widows for making house under CM Vidhva and Ekal Nari Awas Yojna.

Pension schemes

Himachal Pradesh Budget proposed to extend pension benefits to disabled people. A social security pension has been announced for widows and the disabled, while the Sukhashraya scheme has been launched for orphans.

CM announced social security pensions for 40,000 new beneficiaries.

He added that there will be abolishment of age limit for the widow pension scheme.

On restoring the old pension scheme (OPS), the chief minister said that it will benefit 1.36 lakh employees.

Earlier this month, Himachal Pradesh cabinet approved the implementation of the Old Pension Scheme (OPS) from April 1. The move is likely to put a burden of Rs 1,000 crore on the state exchequer.

The contribution towards NPS by the government and the employees would stop from April 1 and if any employee wants to opt for NPS, he/she can give the consent to the government. The employees will also be brought under the ambit of GPF and those employees under New Pension Scheme (NPS), who have retired after May 15, 2003, will be given OPS from the prospective date.

Youth and education sector

The state hiked the daily wages under the central government’s Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) from Rs 212 to Rs 240. It said that around 30,000 vacant posts in various state government departments will be filled in the coming financial year.

On education sector, CM said that libraries will be open in all secondary schools and tablets will be given to 10,000 meritorious students, He added that honorarium of Rs 4,000 will be made orphans studying any course.

-With PTI inputs

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Punjab Budget 2023: Top schemes and announcements for farmers and students

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Punjab government on Friday announced its budget for the financial year 2023-24, with a total worth of Rs 1,96,462 crore. The budget was presented by Punjab Finance Minister Harpal Singh Cheema, who stated that the effective capital budget expenditure has increased by 22 percent compared to the previous year. Cheema announced various new schemes for the welfare of citizens.

Here are some of these schemes:

Fasal Bima Yojana

Punjab government will initiate Fasal Bima Yojana. This scheme is aimed at providing insurance coverage and financial support to the farmers in the event of failure of any of the notified crop as a result of natural calamities, pests and diseases. It is also aimed at stabilising the income of farmers to ensure their continuous process in farming.

Cheema also said the government will also bring a new policy to find ways to increase the income of farmers.

Bhaav Antar Bhugtan Yojna

Cheema said that his government has decided to launch a new risk mitigation scheme ie “Bhaav Antar Bhugtan Yojna” for horticulture producers.

“Government would intervene to ensure right remuneration to horticulture producers whenever market prices would fluctuate beyond a certain level. I propose an initial allocation of Rs 15 crore for this purpose in FY 2023-24. Further, a new scheme for diversification through flower seed production would also operation in the upcoming financial year,” he said.

New horticulture estates will be set up at Ludhiana, Gurdaspur, Patiala, Bathinda and Faridkot, he said.

Scholarship schemes

For providing pre-matric scholarships, the government proposed an allocation of Rs 18 crore for OBC students and Rs 60 crore for SC students in 2023-24.

Further, Cheema said that Rs 99 crore will be given for maintenance of government schools, Rs 20 crore for programme for skill enhancement programme of teachers/school heads/educational administrators. He added that Rs 30 crore has been kept for giving Rs 2,000 to per student as initial money under ‘Punjab Yuva Udyami Programme’.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Maharashtra Budget 2023 top announcements: Waiver on professional tax, stamp duty discount and more

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Maharashtra deputy chief minister Devendra Fadnavis, who is also the state finance minister, on Thursday presented the Eknath Shinde-led government’s first budget for the year 2023-24 in the state assembly. The Maharashtra Budget announced several schemes for the welfare of citizens. Here’s a look at those:

Waiver on professional tax

Maharashtra government announced a waiver on professional tax for women earning up to Rs 25,000 per month. Earlier, women with a monthly salary of more than Rs 10,000 had to pay professional tax.

Stamp Duty Discount

Women buyers of housing properties will continue to enjoy the 1 pe cent concession in stamp duty. However, the condition that she cannot sell a residential unit to a male buyer for a period of 15 years will be relaxed.

According to Nitin Bavisi -CFO at Ajmera Realty and infra India ltd, the move will encourage a sense of homeownership amongst women.

“The budget was well in line with the infra push announced in the Union Budget. The move towards boosting the infrastructure and connectivity through Maharashtra will open up opportunities for various segments of real estate developments comprising residential, retail, commercial and warehousing. The connectivity boost will drive the rise of new real-estate micro-markets, thus resulting in the emergence of new epicentres of Mumbai and MMR,” he said.

Professional tax is levied by the state government and applies to income an individual earns through employment. One can often find the deduction for the same on the salary slip each month. This can vary depending on the state one lives in. The maximum limit of which one can be charged is Rs 2,500. The tax is calculated based on the slabs.

Insurance scheme and incentives for farmers

A Rs 5-lakh insurance scheme was announced for the traditional fishermen with the Centre’s help. Farmers will also get crop insurance at just Re 1 as the government will pay the instalments at a cost of Rs 3,312 crore.

Lekh Kadki scheme

The Lekh Kadki scheme was announced for the girls belonging to families with yellow and orange ration cards. Under the scheme, Rs 5,000 will be given after the birth of a girl child; Rs 4,000 when the girl reaches fourth grade; and Rs 6,000 when in sixth grade. A total of Rs 75,000 will be given after the girl turns 18 years of age.

Mahatma Jyotirao Phule Jan Arogya Yojana

An insurance cover of Rs 1.5-5 lakh to be provided under the Mahatma Jyotirao Phule Janaragya Yojana, a health insurance scheme, to yellow, orange ration card holders, Antyodaya Anna Yojana card (AAY) and Annapurna card holders. Two hundred new hospitals will be established. A benefit of Rs 2.5-4 lakh was announced for those undergoing kidney transplant surgery.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Chhattisgarh Budget 2023: CM Baghel raises pension amount under ‘Samajik Suraksha Pension Yojana’

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Chhattisgarh government on Monday proposed to raise the pension amount under ‘Samajik Suraksha Pension Yojana’ from Rs 300 to Rs 500 for elders, widows and specially-abled. The same was announced by Chief Minister Bhupesh Baghel who presented the state budget for the financial year 2023-24. 

About ‘Samajik Suraksha Pension Yojana’

This schemes is aimed at providing financial assistance to the BPL PwDs (Persons with disabilities) and the dwarf people.

Eligibility:

• Native residents of Chhattisgarh
• Children with disabilities (CwDs) of age group 6-17 years. In which 6-14 age group of CwDs should be school going.
• People with disabilities of age 18 years or above having disability of 40 percent or above
• Dwarf people

Selection Process:

The urban bodies/village panchayats forward the application to the respective ULBs/Janpad panchayats with their recommendation. The respective urban bodies/Janpad panchayats have the right to accept/reject the same.

More announcements

Baghel, while presenting the Budget, also announced a hike in the monthly honorariums of anganwadi workers, home guards, village kotwars and others.

Besides, he also announced to give Rs 2,500 monthly allowance to unemployed youth in the state under “Naveen Yojana’ scheme.

“A new scheme to give allowance to the unemployed will be launched. Under the scheme, unemployed youth in the age group of 18 to 35 years who passed class 12, and with an annual family income of less than 2.50 lakh, will be given an allowance of Rs 2,500 per month,” Baghel told the Assembly.

The monthly honorarium of anganwadi workers and sahayika (assistants) will be increased from Rs 6,500 to Rs 10,000 and from Rs 3,250 to Rs 5,000, respectively, he said.

Similarly, mini-anganwadi workers will be given an honorarium of Rs 7,500 instead of the existing Rs 4,500, he added.

The CM also announced an increment in the honorarium given to village Kotwaras based on the size of the area where they serve.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow