Mamdani Decoded: Myths and Realities

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The victory of Zohran Mamdani as the New York City Mayor created more cheers as well as concerns. It has also polarised not only the US political landscape but also the global political opinion. This is because the US is a very important country, and we live in a very interconnected and globalised world. There are two big ways that people are divided. Firstly, based on his background- a young South Asian Muslim Mayor, and secondly, his ideology and policies- a Democratic Socialist.  He won the mayorship by contesting from both the Democratic Party and the Working Families Party. He will command the $115B budget of the city. In this article, let us closely look at various claims and separate myths from realities.  Link to the News Capsule of the Month 100 Days Plan Mamdani has kept 100 days to bring in structural changes in the city governance. As of now, it has been 40-45 days, and we have yet to see what exactly is going to be a big change. Just like any leader, his first fe...
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Important takeaways from Indian Financial Budget 2021

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On February 1st 2021, the Finance Minister of India, Mrs Nirmala Sitharaman presented the financial budget for the financial year 2021-2022. It was a significant budget this time as the country is going through the biggest pandemic of the century. On 29th January, the minister had submitted the Economic Survey for the year 2020-2021. 

Credits- The Indian Wire


Challenges to the budget

  • Economic revival 
  • Increase public spending 
  • Employment generation 
  • Fiscal deficit (9.5%)

The main takeaways from the budget

  1. A major push for digitalisation, as the FM read out the budget from a Made in India tablet. An app was also unveiled for people to know and understand the budget as well. 

  2. The speech was just over one and a half hours. 

  3. Increase in Health spending for this year at Rs 2.2 lakh Cr and Rs 35,000 Cr for Covid-19 vaccination. 

  4. Introduction of PM Atmanirbhar Swasth Bharat Yojana for improving healthcare infrastructure. 

  5. No change in Income tax slabs this year.

  6. Exemption for senior citizens from Income Tax returns. 

  7. Increase in customs duty on electronics, cars etc. These are aimed to reduce imports and promote indigenous products. Increase in customs duty on agricultural products as well. 

  8. Customs duty reduced on Shoes, Gold, Silver, Platinum, Iron and Copper. 

  9. MSP for agriculture to be at 1.5 times production cost. 

  10. A new portal for the unorganised sector.

  11. Privatisation of PSUs, as well as disinvestment. Aimed at growth and employment generation. 

  12. Support for Startups and Small business. Including tax holidays. 

  13. Reduction in spending for the Education Sector. 

  14. Introduction of Agricultural (AIDC) cess in Petrol and Diesel. Rs 2 and Rs 4 respectively. 

  15. Support for fisheries and Seaweed cultivation. 

  16. More fund allocation for metros across the country, including Phase 2 of Kochi Metro.

  17. Push for Road infrastructure in poll-bound states of Tamil Nadu, Kerala, Assam, West Bengal, etc.

  18. Increase in FDI Insurance from 49 to 74%. 

  19. Fitness test for vehicles over 20 years and new vehicle scrapping policy. 

  20. Listing of LIC IPO. 

Hope this list is helpful to you for understanding the crux of this budget. Let's hope that Indian economy will further improve in the coming months. 

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