Parliament LIVE: Corporate Tax to be Reduced as Lok Sabha Passes Taxation Law Amendment Bill 2019 - News18

Parliament LIVE: Corporate Tax to be Reduced as Lok Sabha Passes Taxation Law Amendment Bill 2019 | December 2, 2019, 8:49 PM IST
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Parliament LIVE: Congress leader Ghulam Nabi Azad today said several laws had been made to check cases of sexual assault but it seemed like they were not enough as the Rajya Sabha condemned the rape and murder of a Telengana vet. “The whole nation has to get together to finish this from the roots. We have to create an atmosphere where such incidents do not happen. Stricter punishments should be given.”

Speaking about the incident, Venkaiah Naidu called it a disgrace to society and value system. “We should see why such things are happening and we should look for remedial measures. I would want all of you to make suggestions.”
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Dec 2, 2019 8:49 pm (IST)

LS Adjourned | The Lok Sabha has been adjourned for the day.

Dec 2, 2019 7:45 pm (IST)

LS Passes Taxation Laws (Amendment) Bill | The Lok Sabha passed the Taxation Laws (Amendment) Bill, 2019, which will amend the Income Tax Act 1961 and the Finance (No 2) Act 2019. In the biggest reduction in 28 years, the government in September slashed corporate tax rates up to 10 percentage points as it looked to pull the economy out of a six-year low growth with a Rs 1.45 lakh crore tax break. Base corporate tax for existing companies has been reduced to 22 per cent from 30 per cent, and to 15 per cent from 25 per cent for new manufacturing firms incorporated after October 1, 2019, and starting operations before March 31, 2023. The companies opting for lower tax rates, however, will not be entitled to claim any rebate or deductions.

Dec 2, 2019 7:36 pm (IST)

BJP to hold Parliamentary Party meeting tomorrow at Parliament Library Building.

Dec 2, 2019 7:35 pm (IST)

Gross Direct Tax Collection rises by 5% Till Nov: FM | FM Nirmala Sitharaman says there is no decrease in direct tax collection but an increase of 5 per cent in the gross direct tax collection. Historically, maximum collection of direct taxes happens in the last quarter of the fiscal, she added. Sitharaman said several domestic and global firms have expressed interest in investment post announcement of the reduction in corporate tax rate. On the liquidity issue, she said banks have disbursed about Rs 2.5 lakh crore during their recent outreach programme.

Dec 2, 2019 7:19 pm (IST)

"Eight crore people got gas connections under Ujjwala. Who are the 68 lakhs beneficiaries of Ayushman Bharat? Who are those 11 cr people who got toilets in their houses? Are they someone's 'damaad or jija?' We don't have jijas in our party, we only have karyakartas," says FM Nirmala Sitharaman.

Dec 2, 2019 7:02 pm (IST)

"We're called 'suit-boot ki sarkaar' again & again. We're told that lowering corporate tax helps only rich. I want to tell them that corporate tax cut helps all small & big businesses registered according to Companies Act," says Finance Minister Nirmala Sitharaman.

Dec 2, 2019 6:36 pm (IST)

'I Have Been Told I am the Worst FM': Nirmala Sitharaman | On the subject of the government being open to criticism,  Nirmala Sithraman said that she was told she was the worst Finance Minister. She adds, " I told them that please give me more ideas, we will work on it. If there's a govt that listens, it is PM Modi's govt."

Dec 2, 2019 6:25 pm (IST)

Govt Willing to Take Criticism: FM | "We are a government that listens, whether it is criticism or an input. When Home Minister responded to an industry leader, it was with a clear attitude that we are willing to hear or take criticism," says Finance Minister Nirmala Sitharaman.

Dec 2, 2019 6:23 pm (IST)

Internal and extra budgetary resources (IEBR)  raised by the NHAI during "2019-20 (up to October 31, 2019)" stood at Rs 36,526 crore, while it was Rs 61,217 crore in 2018-19 and Rs 50,533 crore in 2017-18, Road Transport and Highways Minister Nitin Gadkari said in a reply to a question in the Rajya Sabha.  The government has released Rs 20,101 crore to the NHAI in the current financial year till October 31, he said. While in the previous financial year, Rs 36,221.82 crore was released to the Authority, he said. The NHAI utilises finances released by the ministry and also raises funds as per IEBR approved in the Union Budget, the minister said.

Dec 2, 2019 6:21 pm (IST)

RS Adjourned | Rajya Sabha has been adjourned till 11 am on Tuesday.

Dec 2, 2019 6:14 pm (IST)

"I request to all the concerned ministers that please make a law so strong that a person thinks 100 times before let alone rape, but even before looking at a woman with ill intentions," says TMC MP Mimi Chakraborty.

Dec 2, 2019 6:01 pm (IST)

Parliament Passes Bill Prohibiting E-cigarettes | The Parliament passes the Prohibition of Electronic Cigarettes Bill. Cutting across party lines, members in Lok Sabha on Tuesday supported a bill to ban the production, import and sale of electronic cigarettes though the Congress questioned the government's decision to adopt the ordinance route for the legislation.

Dec 2, 2019 5:56 pm (IST)

BJP members created an uproar in Rajya Sabha protesting Congress leader Adhir Ranjan Chowdhury's remarks calling Prime Minister Narendra Modi and Union Home Minister Amit Shah "infiltrators". "This is not only the issue of this House or of that House", this is a matter of dignity, Bhupender Yadav said. "Does any leader of a party have the right to use words such as 'infiltrators'. Are we not insulting parliamentary democracy of this country by using such words," he said. Several BJP members left their seats to protest Chowdhury's comments. On Sunday, Chowdhury had termed Modi and Shah as "infiltrator in Delhi. He said they are migrants since they have their homes in Gujarat but are now living in Delhi.

Dec 2, 2019 5:30 pm (IST)

"The government has received a total number of 62 complaints against managing director, Ferro Scrap Nigam Ltd, on various allegations during the last three years and the current year for alleged termination/removal of whistleblowers, caste-based discrimination, unfair practices, irregularities, malpractices, violation of rules," Steel Minister Dharmendra Pradhan said in the Lok Sabha. He said a whistleblower can make complaints under the Public Interest Disclosure and Protection of Informer Resolution/ Whistleblower Mechanism of the Government of India. "Any employee of FSNL can also make disclosures/complaints under the whistleblower policy of FSNL to the chairman of the audit committee of the board of FSNL... (and) all such complaints are dealt as per the provisions of conduct, discipline and appeals rules (CDA Rules) and works standing orders of FSNL and vigilance manual as well as the Government of India instructions on the subject," he added.

Dec 2, 2019 5:19 pm (IST)

Govt to Generate 5 Crore jobs in MSMEs: Gadkari | "MSME is the heart of the subject which is related with the growth of the country. Presently 29 per cent growth is coming from MSME and 49 per cent of the export of the country is coming from MSME. 11 crore jobs up till now have been created by MSME," MSME minister Nitin Gadkari said. "For this five year (2019-2024), we have taken programmes, where our target is to" add 5 crore employment potential, he added. The target is also increase the share of MSMEs in the country's export and growth to 50 per cent, Gadkari said.

Dec 2, 2019 5:02 pm (IST)

Parliament's standing committee on information technology has sought suggestions from the public on the Cinematograph (Amendment) Bill that is under its consideration. The committee has sought suggestions from the general public, experts and all stakeholders. The government in February introduced the bill in Rajya Sabha to amend the Cinematograph Act and impose strict penalty to combat the menace of film piracy.

Dec 2, 2019 4:55 pm (IST)

About the decline of the forest cover in certain areas there, Emvironment minister Prakash Javadekar said there will be a new survey of 2019-20 by the end of this month. He said the country's geographical area of forest cover has increased by 17,374 sq km between assessments of 2007 and 2017. "However, within the above ten year period, forest cover increased by 6,788 square km between assessments 2015 and 2017 itself," he said.

Dec 2, 2019 4:54 pm (IST)

Tiger Population up by 750 in 4 Years | "Now the tiger count is 2,976. We must be proud of our whole ecological system. Tigers have increased by 750 in last four years ," Environment minister Prakash Javadekar says. He adds lions, tigers, elephants and rhinos are India's assets and if reports of any deaths from viruses surface, special investigations are conducted to ascertain facts. The Minister also said the country's Northeast has a peculiar problem of Jhum cultivation but has forest cover of over 75 per cent in all states.

Dec 2, 2019 4:51 pm (IST)

UGC to Regulate Fees Charged by Pvt Universities | The UGC has prepared a set of directives to regulate fees charged by private universities, including the capitation fee, and is seeking suggestions on its website from all stakeholders. Union HRD Minister Ramesh Pokhriyal 'Nishank' says that the Commission has prepared the UGC (Fees in professional education imparted by private aided and unaided institutions deemed to be universities Regulations, 2019. These regulations are being placed on the UGC website to solicit comments from all stakeholders. A final decision will be taken after receipt of comments from them, he said. 

Dec 2, 2019 4:45 pm (IST)

Coal Minister Pralhad Joshi said  "The government has allocated funds of Rs 937 the current financial year 2019-20 for carrying out exploration in non-CIL (Coal India) blocks in coal and lignite," he said. Regional exploration has been planned for 37 coal blocks and 10 lignite blocks whereas detailed drilling has been planned for 121 coal blocks and one lignite block, Joshi said adding that such exploration programme is approved every year.

Dec 2, 2019 4:33 pm (IST)

Tax Cut Aimed at Attracting Investment: FM | "We think we will attract investment by reducing tax rate", FM Nirmala Sitharaman said while stressing that several neighbouring countries and emerging nations have reduced tax rates to attract investment. She further said that with reduction of corporate tax rate, the effective rate will come down to 25.17 per cent from 34.94 per cent. The effective tax rate for new manufacturing companies, which will be entitled for 15 per cent rate would be 17.16 per, she said. The government, she said, has also partially rolled back the surcharge announced in the budget to attract investment from the foreign portfolio investors (FPIs).

Dec 2, 2019 4:30 pm (IST)

Union HRD Minister Ramesh Pokhriyal 'Nishank' informed the Lok Sabha that four centrally-funded Indian Institutes of Information Technology (IIITs) at Allahabad, Gwalior, Jabalpur and Kanchipuram are already offering dual degree courses. In the 20 IIITs established under Public-Private-Partnership (PPP) mode and one centrally-funded IIIT at Kurnool in Andhra Pradesh, infrastructure is in developing stage and hence, presently, they are not able to introduce dual degree courses, he said. The Board of Governors of these institutes are empowered to start new courses, including dual degree courses, he said. 

Dec 2, 2019 4:18 pm (IST)

TMC MP Mahua Moitra says, "The (corporate) tax cut that you have proposed only helps the profitable become more profitable. It does not do anything to revive a very large part of this economy which is struggling."

Dec 2, 2019 3:53 pm (IST)

Replying to a supplementary during Question Hour, Defence Minister Rajnath Singh said on Disability Pension, the Defence Ministry has sought a clarification from the Finance Ministry. "As far as the question of exemption on Income tax on Disability Pension is concerned, this exemption will be given to only such people who during the service period have become invalidated," he said.

Dec 2, 2019 3:52 pm (IST)

GDP shouldn't be considered to be the Bible, Ramayan or Mahabharat and in the future it will not be of much use as an economic indicator: BJP MP Nishkant Dubey.

Dec 2, 2019 3:24 pm (IST)

Taking a swipe at Finance Minister, the Leader of Congress, Adhir Ranjan Chowdhury, in Lok Sabha says, "Even though I respect you, but at times I think you should be called "Nirbala" than Nirmala as you may not be able to assert yourself much on policies of the government despite being a Minister."

Dec 2, 2019 2:58 pm (IST)

Finance Minister Nirmala Sitharaman in Lok Sabha says, "Keeping in mind the trade war between USA and China, with indications that many of these corporates and multinational companies would want to get out of China, we thought it was necessary to quickly take a call in reducing the corporate tax."

Dec 2, 2019 1:57 pm (IST)

BJP Seek Adhir Ranjan Chowdhury's Apology for Calling Modi Infiltrator | BJP members in Lok Sabha on Monday protested against Congress leader Adhir Ranjan Chowdhury calling Prime Minister Narendra Modi and Home Minister Amit Shah as "infiltrators" and sought his apology for the "insult". Parliamentary Affairs Minister Pralhad Joshi took a swipe at the Congress over its President Sonia Gandhi's foreign origin, saying its own leader is an "infiltrator" and it target others in a similar manner.

Dec 2, 2019 1:51 pm (IST)

Pinaki Misra (BJD) questioned the delay in executing the death sentence awarded to convicts in the "Nirbhaya" gang-rape case. He said laws and establishment on fast track courts will not make a differences till the time the death sentences are not executed.

Dec 2, 2019 1:22 pm (IST)

The BJP's Roopa Ganguly says, "There shouldn’t be any appeal in these cases. Hang them in public, I agree with Jaya Bachchan. Hanging should be a spectacle so that everybody sees it."

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Parliament LIVE: Corporate Tax to be Reduced as Lok Sabha Passes Taxation Law Amendment Bill 2019
File photo of proceedings in the Lok Sabha.

The Shiv Sena gave an adjournment motion notice in the Lok Sabha over the issue. The charred body of the woman, working as an assistant veterinarian at a state-run hospital, was found under a culvert in Shadnagar near here on November 28 morning, a day after she went missing.

Cyberabad Commissioner of Police VC Sajjanar said it was a pre-planned rape and murder and the accused were said to have kept a watch on the victim's movements. The tyre of her vehicle, which she had parked near the Tondupalli toll plaza, was deliberately punctured and she was unwittingly trapped by them.

“She was forcibly taken by these four men who were drunk at that time, at around 9:40 pm, after she made her last call to her sister. As per the postmortem reports, she has been gang-raped and tortured before they strangled and killed her in an empty plot behind the Tondupally toll plaza at the Outer Ring Road at Shamshabad," he added.

Sajjanar said the accused had first tried to break into an empty shed and then attempted to push her through its window, but had failed on both counts. "So they committed the act in the open. This was a plot of empty land, very close to the toll plaza and near a busy road," said the officer.

Sajjanar said the accused took the body and her two-wheeler in a lorry. "They removed the licence plates and left the vehicles 40 km from the site, after which they went to a bridge near Shadnagar town in Ranga Reddy district, knowing it was a desolate place," he said. "Then they wrapped her body in a bed sheet, poured kerosene and burnt her. They left the body burning there and escaped."

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