National
Quality of fiscal deficit matters: Jaitley
New Delhi: Union Finance Minister Arun Jaitley on Thursday said not only was it important to meet the fiscal deficit target but also to maintain its quality so that the economy’s growth is not affected.”What matters is not only fiscal deficit, but also the quality of fiscal deficit. You can contain it by earning more and cutting down on expenditure. But cutting expenditure is a fallout for the economy because the growth goes down,” Jaitley said in the Lok Sabha. “The quality of fiscal deficit is better when we have maximum possible public expenditure, while maintaining fiscal consolidation. And also have resources come in from wherever possible like foreign direct investment (FDI),” he added.
“In Budget 2017-18, I have maintained the path of fiscal consolidation without compromising on expenditure. No tax refunds have been held, but I have not cut any expenditure at the same time,” Jaitley had said earlier.He pointed out that in this regard, both for the current and last fiscals, the revised Estimates of Expenditure have come in higher than the Budget Estimates.In a move to support higher government spendings in the coming fiscal, Jaitley has pegged the fiscal deficit target at 3.2 per cent of the country’s Gross Domestic Product in his Budget 2017-18 presented in Parliament on February 1.
The figure is higher than the earlier targeted figure of 3 per cent of the GDP for 2017-18. The fiscal deficit target for the current fiscal is 3.5 per cent, and 3 per cent for 2018-19.On the festering issue of non-performing assets (NPAs) or bad loans of public-sector banks, Jaitley on Thursday said these are substantially a result of overmanagement of banks.”NPAs are a result of loans given during 2007-09. NPAs are partially because of the slowdown but substantially because of overmanagement of the banking system,” he said in the Lok Sabha.The banks’ capacity to lend and bring interest rates down has increased as an outcome of demonetisation, he added.
National
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.