National
Modi government foregoing ‘fiscal prudence’, worsening deficit: Chidamabaram
New Delhi, Feb 8 (IANS) Former Union Finance Minister P. Chidambaram on Thursday accused the Narendra Modi government of “abandoning fiscal prudence” and worsening the fiscal deficit and demanded to know as to how many jobs meeting International Labour Organisation (ILO) standards were created in the last four years as against the promised two crore jobs a year.
Speaking in Rajya Sabha amid din created by the treasury benches, the senior Congress leader posed 12 questions to the government.
“Budget 2018-19 has made the fiscal deficit worse — 3.5 per cent against 3.2 per cent in 2017-18 and 3.3 per cent against 3.0 per cent in 2018-19. What are the estimates of the Current Account Deficit for 2017-18 and 2018-19?” he asked, also seeking to know the estimates of average Wholesale price index (WPI) and Consumer price index (CPI) for 2017-18 and 2018-19.
He pointed out that the total expenditure in 2017-18 increased by Rs 71,000 crore, but the revenue expenditure increased by Rs 1,07,371 crore.
“Is this not evidence of a spendthrift government that has abandoned all norms of fiscal prudence?” he said.
“Before you assumed office, you promised two crore jobs a year. The ILO describes a proper job as employment that is certain, regular and reasonably secure. What is your definition of a job? How many ILO-described jobs were created in the four years of your government?” said Chidambaram.
He also demanded to know how would rising crude prices would impact India’s Budget estimates.
“Suppose the price of crude oil rises to $70 or 75, how will it impact your budget estimates, especially the deficits? Will you raise the retail prices of petrol and diesel or will you cut the central excise duties on petrol and diesel?” he asked.
“The government will borrow an additional Rs 48,000 crore in 2017-18. Add another Rs 37,000 crore that ONGC borrowed on behalf of the government. Where did this Rs 85,000 crore go?” he said.
“Capital expenditure was budgeted in 2017-18 for Rs 3,09,801 crore. The revised estimate is Rs 2,73,445 crore — a shortfall of Rs 36,000 crore. Which are the schemes and projects that took a hit in capital expenditure?” he added.
He said that for 2018-19, the government has estimated nominal GDP growth at 11.5 per cent, but whether the additional one per cent was due to higher inflation or higher growth.
“What is your estimate of real GDP growth in 2018-19?” he said, and also sought to know if interest rates will rise across all debt instruments and if the rise in interest rates be inflationary.
On the Goods and Services Tax (GST), that was rolled out from July 1 last year, Chidambaram asked if GST revenue collection for 2017-18 which is estimated at Rs 4,44,631 crore, was for eight months (excluding March 2018) or for nine months or for 11 months.
–IANS
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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.
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