5 NEW IITS TO BE  SET UP IN  COUNTRY  INCLUDING J&K : FM

(AGENCIES)

NEW DELHI : The Narendra Modi government’s debut Budget today promises an economic revival with return to 7-8 per cent GDP growth in the next 3-4 years, reining in of inflation with special focus on manufacturing, infrastructure building and skill development.
Finance Minister Arun Jaitley, in his 2014-2015 Budget proposals presented in Lok Sabha, announced a slew of measures for revival of the ailing economy and called for fiscal prudence while hinting at austerity by saying “We cannot spend beyond our needs.”
He announced a target of bringing down fiscal deficit to 3.6 per cent of the GDP in 2015-16 and to 3 per cent in 2016-17 and stressed the need to be watchful of the Current Account Deficit (CAD).
He also announced to have the GST in place during the course of the year.
Hinting at stress on austerity, Mr Jaitley said “We can not spend beyond our needs” but at the same time, expressed optimism about global economic revival saying there were “green shoots” of recovery in global economy.
The Budget estimates a total expenditure of Rs 17,94,893 crore and a non-planned expenditure of Rs 12,94,000 crore. The personal Income Tax limit was raised to Rs 2,50,000. The Finance Minister also announced uninterrupted power supply to Indian homes 24X7, Rs 50,548 crore for SC development and minimum pension of Rs 1,000 crore to all public provident schemes.
To implement its promise of a clean India, Mr Jaitley said a ‘Swatchh Bharat Abhiyan’ (Clean India Drive) would be launched and total sanitation goals achieved by 2019. Moreover, Rs 3,600 crore have been allocated for drinking water programmes and Rs 500 crore earmarked for rural housing. To boost rural infrastructure, an amount of Rs 14,389 crore has been earmarked for the ‘Pradhan Mantri Gram Sarak Yojna’. He said national skill programme called the ‘Skill India’ would be launched and 24×7 power supply provided to all homes. Moreover, Rs 500 crore would be infused into the ‘Deen Dayal Upadhyaya Yojana.’
Farmers would be provided social health card. To expand educational opportunities and health facilities, the government would set up four AIIMS and five IIMs. Rs 7000 crore was allocated for development of smart cities. He also announced increase in defence expenditure. (AGENCIES)

SRINAGAR : Former Speaker of the Jammu and Kashmir Legislative Assembly died after a prolonged illness here last evening.
He was above 70 and is survived by wife, three daughters and a son.
He died of multiple organ failure.
According to family, his ‘Nimaz Jinazah’ will be offered at Goripora today.
(AGENCIES)

RS 200 CR TO UPGRADE INDOOR AND OUTDOOR STADIUM IN J&K
(AGENCIES)

RS 500 CR FOR DISPLACED KASHMIRI MIGRANTS

(AGENCIES)

NEW DELHI :  The Modi Government today presented its maiden Budget in the Lok Sabha amidst high expectations over  expediting reforms, boosting growth and employement.    The Budget for 2014-15 was tabled by Finance Minister Arun Jaitley, underscoring that the people of the country had this  time decisively voted for change.
The event is being watched live on TV by millions across the  country.
(AGENCIES)

NEW DELHI : Highlighting the difficult economic situation faced by the country, the Narendra Modi government in its maiden Budget presented in the Lok Sabha today, called for fiscal prudence and reviving growth by boosting manufacturing and investing in infrastructure.
The Budget tabled by Finance Minister Arun Jaitley also announced various schemes for the social and the rural sector. For reducing fiscal deficit, he said, he would go for subsidy rationalisation.
The Finance Minister announced a target of bringing down fiscal
deficit to 3.6 per cent of the GDP in 2015-16 and to 3 per cent in 2016-17.
He also stressed the need to be watchful of the Current Account
Deficit(CAD).
Expressing determination to achieve 7-8 per cent economic growth in the next 3-4 years, the Finance Minister said controlling inflation was his first priority. He also announced to have the GST in place during the course of the year.
Hinting at stress on austerity, Mr Jaitley said “We cannot spend beyond our needs” but at the same time, expressed optimism about global economic revival saying there were “green shoots” of
recovery in global economy.
(AGENCIES)

Rs 50 cr for pashmina production programme in J&K
(agencies)

We look forward to lower inflation, said Finance Minister Arun Jaitley, presenting the Budget. Adding he said controlling inflation our first priority, aim to lay down a broad policy indicator, economic situation is a great challenge, need to revive growth, to be watchful of CAD, cannot spend beyond our needs, fiscal deficit aimed at 3.4% of gdp in 2014-15 and 3%
In 2015-16, fiscal deficit aimed at 3.4% of gdp in 2014-15 and 3%
In 2015-16, need to take steps to revive economy, growth in infrastructure sector, have to address black money, hope to bring gst during the year, target of 4.1% fiscal burden in daunting, hope to bring further course of action on GST implementation by year end, tax to GDP ratio must be raised, committed to provide stable and predictable tax regime, Government to set up expenditure management commission, aim for 7.8% economy growth in next 3-4 years, FY16 fiscal deficit target at 3.6% said Finance Minister while presenting the budget.

SRINAGAR, July :  As many as 1.6 lakh pilgrims have paid obeisance at holy ice-lingam of Lord Shiva at Amarnath cave shrine in South Kashmir Himalayas since the beginning of pilgrimage this year on June 28, Amarnath Shrine board official said here.
The Amarnath pilgrimage is proceeding smoothly and pilgrims, including women and sadhus, left Baltal base camp for holy cave shrine early this morning, a yatra official said.     Similarly the pilgrims, who had darshan till last night, have also started return journey to Baltal this morning.    He said several thousand pilgrims also left Nunwan Pahalgam for Chandanwari, the last motorable halting station on traditional route.
He said pilgrims, who had night halt at different halting stations on the 42-km-long track, have also started their journey towards the cave shrine.
Chief Executive Officer (CEO) of Shri Amarnath Shrine Board (SASB) R K Gupta said the on-spot registration of Yatris is proceeding smoothly in Jammu at Vaishnavi Dham, Sarswati Dham, Jammu Haat and Geeta Bhawan and in Srinagar at Tourist Reception Centre (TRC) Nowgam.
The quota for On-Spot Registration, for each route, is released daily, on the basis of the trend of arrival of Yatris at Baltal and Chandanwari, and also keeping in view the number of pilgrims registered earlier by 426 Bank Branches.    The Board had provided advance registration arrangements through 426 branches of Punjab National Bank, Jammu and Kashmir Bank and YES Bank enabling the pilgrims to register themselves for
Yatra 2014.
This advance registration facility was made available from March 1 onwards and, as of now, 2,41,464 pilgrims have received advance registration.
(UNI)