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Budget 2020



India’s annual budget on Saturday is the second chance in seven months for Prime Minister Narendra Modi to update policy priorities to sustain a downward spiraling economy.

Finance Minister Nirmala Sitharaman is expected to detail fiscal measures that may include higher rural spending and possible tax cuts when she delivers her second New Delhi Budget address. The government is expected to increase its year – to-March budget deficit target from a projected 3.3 percent to 3.8 percent of gross domestic product.

Ms Sitharaman had to contend with slower tax revenue as the economy slowed down, and lower than expected revenue from sales of properties. She might be forced to borrow more and rely on India’s Reserve Bank for more dividends to help finance the budget.

The Government is set to miss its 3rd straight year fiscal deficit target. Economists in a Bloomberg survey also expect that Ms Sitharaman will increase the target for next year to 3.5 per cent of GDP, although a law on fiscal discipline requires the government will have to limit the deficit to 3 per cent by then.

Fiscal Deficit

Ms Sitharaman may use a so-called ‘ escape clause ‘ given in the rules to expand the goal of the current year by half a percentage point and also amend the law to push back the target of 3 percent by five years.

The government will need to mention exceptional circumstances to invoke the escape clause, such as a war, a fall in farm production or when the economy is undergoing structural reforms with unanticipated fiscal implications. A. Prasanna, an economist at ICICI Securities Primary Dealership Ltd., said last year’s corporate tax cut, which entailed a $20 billion gift, could qualify as a justification enough.


The government is likely to boost borrowing to fund the wider fiscal deficit, with a Bloomberg News poll estimating probable Rs 7.8 lakh crore bond sales for the year beginning in April. That would be higher than the currently budgeted Rs 7.1 lakh crore.


The slowdown in the economy and the subsequent tax concessions for companies to raise investment means the government is likely to miss the Rs 16.5-lakh crore tax revenue target for the current year. ICICI Bank Ltd. reports a Rs 2.1 lakh crore deficit in tax revenues.

The government may be penciling in higher revenue from next year’s sale of state-owned companies, having fallen short of the current year’s Rs 1.05 lakh crore goal. It may also have to turn to the central bank for additional revenue. Every year, the RBI pays the Government dividends. Last year, it allocated Rs 1.76 lakh crore, including Rs 52.640 from its surplus capital, and IDFC First Bank estimates it could pay around Rs 1 lakh crore in the year beginning in April.


One way the government sought to prevent the fiscal deficit from ballooning was to make cuts due to a revenue shortage. Ms Sitharaman will make up for it by increasing next fiscal year’s public spending. Nomura Holdings Inc. expects increased spending in the rural sector, notably on job guarantees, affordable housing, health, education and farm income programs.

Subsidized loans for mobile phone producers are also under consideration, since the government is aiming to lure suppliers to Apple Inc. and Samsung Electronics Co.

The budget may give priority to investment over demand for short-term consumption, said Sonal Varma, an economist with Singapore-based Nomura. “We expect the budget to be mostly stable for growth as well as for inflation.”

Tax Measures

Some analysts are predicting tax changes to help support businesses and consumers. Here are some possible changes:

  • Tax rebates on home purchases: an increase in this measure would have a large multiplier effect for both employment as well as consumption, according to Edelweiss Securities Ltd.
  • Cuts to personal income taxes, long-term capital gains, tax on share buybacks: Bank of America said this would help spur demand.
  • Tax relief for individuals, minus exemptions as proposed by the Direct Taxes Code, would result in a net gain for the government, according to ICICI Securities.

My name is Aakash Karn. I am a Passionate Article Writer, Professional Web Developer, Android Application Developer. Internet is my passion and I love to explore it.

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Ayodhya Ram Mandir: Bhumi Pujan




Within the next three years, the Vishwa Hinduc Parishad (VHP) said, the building of a great Ram temple within Ayodhya, whose ‘bhoomi pujan’ is scheduled to be completed.

VHP International President Vishnu Sadashiv Kokje has said that the ceremony of laying the foundation stone for the Temple of Ram among Hindu people throughout the world is enthusiastic. The Congress was also accused of the delay in building the temple, PTI said.


Previously, Prime Minister Narendra Modi declared the event a historic occasion earlier today, with the slogan of “Jai Siya Ram.” “I thank you for the past that I have seen. In this day couldn’t believe the Crores of Indians. The entire country is under Lord Ram ‘s embrace, “Modi said following a silver bite under Ayodhya at the Ram Temple founding ceremony.

The ceremony featured Modi among 175 men. He shared his dais only with four others — RSS Chief Mohan Bhagwat, Nritya Gopaldas Maharaj Chief of Trust, Anandiben Patel, Governor in Uttar Pradesh, and Adityanath, CM Yogi. Keeping the pandemic in mind, seat facilities are provided in line with the concepts of social separation. The Prime Minister and Adityanath had previously offered Hanuman Garhi offerings. Ram Janmabhoomi was also visited by Modi.

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59 Chinese apps

The Indian government blocked 59 Chinese apps, including TikTok and UC Browser, at the beginning of this month, saying it was harmful to the nation’s sovereignty, dignity, and health. Days after this, media reports say that 275 more smartphone applications in the country may be banned by the administration. According to a study in The Economic Times , the government reviews 275 Chinese applications for breaches of national security and consumer privacy. The list of applications allegedly includes PUBG Mobile, Ludo World, Xiaomi, AliExpress, Resso and ULike for 14 Mi phones. Following its investigation, the government can ban some or all of these devices.

An additional report from News18 reported that the 275-app list includes not only applications from Chinese technology companies like “Xiaomi, Tencent, Alibaba, and Bytedance, but also development agencies and businesses like Meitu, LBE Tech, Perfect Corp, Sina Corp, Netease Games, and Yoozoo Global.”

If they censored content, worked for foreign governments or lobby forces, Indian government has recently released a list of 77 questions to the already banned 59 applications. This deadline is coming to an end for the businesses operating these devices. The news of smartphone prohibitions follows a battle between Indian and Chinese soldiers that killed 20 Indian soldiers.

The Department of Telecom (DoT) ordered a security audit last week, and the certificate of compliance was sent as soon as possible, to all government network and websites. Officials of the government have answered that cyber attacks have risen to 10,000 a day since the 15 June conflict and India’s ban on 59 Chinese phones.

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Massive Earthquake in Southern Mexico on June 25, 2020




Southern Mexico was hit by a massive earthquake, which killed at least six people, led buildings hundreds of miles away, causing residents to flee their homes and their workplaces in the open air for protection in the streets. The magnitude of the earthquake was 7.5 in the Pacific coastal area around 14 miles toward the south of Crucecita, a beach city located in the southern state of Oaxaca that was very popular among tourists, according to the Mexico national seismological services.


The United States Geological Survey has however measured the magnitude at 7.4; provisional calculations are not uncommon to differ. The very same region was hit on Monday night by another quake estimated in the US to be 4.9. The National Seismological Service of Mexico stated that 1,571 aftershocks were in effect from early Wednesday. It happened at 10:29 (Local time).

Governor of Oaxaca, Alejandro Murat, said at least six citizens in the region had been killed by the earthquake on Wednesday. The Governor also said that approximately 500 homes and four archeological sites and several schools were destroyed. The toll information and the media reports have revealed scrapes from certain damaged Oaxacan buildings.
The President, Mr. Andrés Manuel López Obrador, told a Twitter video, which he posted early in the evening, about one of his series, relaying a series of updates from Mr. León and others. The president said, a phone hit his ear, “collapsed, broken glass, falling signs, walls, but really nothing serious.”

Mr. López Obrador urged all to be alert and calm for further earthquake warnings. “there would be no more harmful post-shocks, hopefully and I wish for all my soul,” he said. Much of the area adjacent to the epicentre, and more than 90 miles from Oaxaca, the state capital, is the nearest city to the city. Buildings swayed over 300 miles Northwest from Mexico City, but local news reports revealed little harm to the rest of the building façades that had fallen away. The Mayor Claudia Sheinbaum of Mexico City said no “significant” impacts from an earthquake had been confirmed by either the security command center or officials carrying out municipal overflights.

The earthquake was pronounced “horrible,” by Flora Pedro Mora, the owner of the Mansiones Cruz del Mar, condo-hotel building near Crucecita. “It was like the film,,” she said, shuddering audibly. But she added that the property was not severely damaged, apart from certain wooden beams that were chucked adrift and fell to earth. While some hotels and resorts, known as Huatulco, began to re-open in the last week in response to the pandemic following a prolonged closure, guests were still at Mansiones Cruz del Mar. Petróleos Mexicanos, the state-owned oil firm, confirmed that the earthquake had led to its refinery temporarily shut-down in the port of Salina Cruz, where a fire quickly erupted.

A “potential threat” from a tsunami across the shores of Mexico, Guatemala, Honduras and El Salvador, the United States’ National Atmospheric and Oceanic Administration said, but revoked it a few hours later. After the tremor, tiny seismic waves were reported by the ocean boots — too little to have a significant impact. Effective offshore earthquakes, such as Fukushima, Japan in 2011 and Aceh, Indonesia province in 2004, can cause devastating tsunamis. But the earthquake that are causing of that kind of damaging waves are tough to anticipate.

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