Page 24 - 28FEB2019E

InDepth

ing for the last forty years has been re- available to Indian filmmakers. “We will RE to 27, 84, 200 crore in 2019-20 BE.
solved. He said, “The previous Govern- also introduce anti-camcording provi- A rise f 3, 26, 965 crore or approxi-
ments announced it in three budgets sions in the Cinematograph Act to con- mately 13.30 per cent. This reflects a
but sanctioned a mere 500 crore in trol the menace of piracy,” he said. high increase considering low infla-
2014-15 Interim Budget; in contrast we tion. The fiscal deficit of year 2019-20 is
have already disbursed over 35, 000 $5-trillion economy estimated to be 3.4 per cent of GDP. The
crore after implementing the Scheme “We are poised to become a Five Tril- finance minister pointed out that after
in its’ true spirit. The government also lion Dollar Economy in the next five completion of the fiscal deficit consoli-
announced substantial hike in the Mili- years and aspire to become a Ten Tril- dation programme, the government
tary Service Pay (MSP) of all service per- lion Dollar Economy in the next 8 years would now focus on debt consolidation.
sonnel and special allowances given to thereafter”, Goyal said, adding that He said “We have maintained the glide
Naval and Air Force personnel there has been a Growth of 18 per cent path towards our target of 3 per cent of
deployed in high risk duties.” in Direct Tax Collections in 2017-18 and fiscal deficit to be achieved by 2020-21.
increase in tax base by as many as 1.06 India’s debt-to GDP ratio was 46.5
Growth in other sectors crore people filing income tax returns per cent in year 2017-18. The FRBM Act
The finance minister pointed out that for the first time in FY 2017-18, mainly prescribes that the Debt to GDP ratio
domestic air traffic passengers have on account of demonetisation. He of the government of India should be
doubled during the last five years, lead- said that he is proposing, through the brought down to 40 per cent by 2024-
ing to large number of jobs also being Finance Bill, necessary amendments to 25. “Along with completion of the fiscal
created. The number of operational levy Stamp duties on one instrument deficit consolidation programme, we
airports has crossed 100 with the com- relating to one transaction and get col- will now focus on Debt consolidation,”
missioning of the Pakyong airport in lected at one place through the Stock he added.
Sikkim. Arunachal Pradesh came on Exchanges. The duty so collected will India having emerged as the world
the air map recently and Meghalaya, be shared with the State Governments leader in the consumption of mobile
Tripura and Mizoram have come on seamlessly on the basis of domicile of data, the government now aims to wid-
India’s rail map for the first time. buying client, he said. en its impact by reaching out to the in-
Capital support from the budget for In all the total expenditure is to in- terior and rural areas. While presenting
Indian Railways is proposed at 64, 587 crease from 24, 57, 235 crore in 2018-19 the Interim Budget 2019-20 in Parlia-
crore in 2019-20 (BE). The Railways’ ment today, the Union Minister for Fi-
overall capital expenditure programme • Gas relief Subsidised LPG price has been nance, Corporate Affairs, Railways and
is of 1, 58, 658 crore. The finance minis- slashed by `1.46 Coal, Piyush Goyal said the government
ter, who is also holding the portfolio of
Railway Ministry, announced that the
Operating Ratio is expected to improve
from 98.4 per cent in 2017-18 to 96.2 per
cent in 2018-19 (RE) and further to 95
per cent in 2019-20 (BE).
India’s installed solar generation
capacity has grown over ten times in
last five years. Stating this, Goyal said
that “our commitment to promote
renewable energy is reflected in setting
up the International Solar Alliance, the
first treaty based international inter-
governmental organisation headquar-
tered in India. This sector is now creat-
ing lakhs of new age jobs, he added.
The minister announced that in En-
tertainment industry, which is a major
employment generator, regulatory pro-
visions will now rely more on self-dec-
larations. To promote entertainment
industry, the Single window clearance
for ease of shooting films, now availa-
ble only to foreigners, will also be made

Tehelka / 28 february 2019 24 www.Tehelka.com