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Budget2024 Unveiled by FM Sitharaman | Benefits for Allies, What’s For Middle Class & Job Seekers?

In her record 7th budget under the PM Modi government, Finance Minister Nirmala Sitharaman earlier today presented the Union Budget for 2024-25, unveiling nine priorities in continuation to the plans announced under the interim budget announced in February, this year. The major highlights of the budget presented by FM Sitharaman, were the announcement of a revised income tax structure, a reduction in the basic customs duty on gold and silver to 6%, and a job boost, specifically for the youth. Acknowledging that the Modi 3.0 government is a coalition government, FM Sitharaman’s budget speech saw several special packages for its NDA allies such as new airports, medical colleges, highways in Bihar, and Special Financial Support for Andhra Pradesh.

Editor Ritam English by Editor Ritam English
Jul 24, 2024, 03:16 pm IST
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In a surprising turn of events, top Hamas and Fatah delegates on July 23 signed the “Beijing Declaration to End the Division and Strengthen Palestinian National Unity.” Notably, the terror groups, Fatah and Hamas, have agreed to collaborate on a cease-fire and on post-conflict rehabilitation and relief efforts. China’s Foreign Minister Wang Yi hailed the signing of the declaration as a “turning point for Palestine’s liberation.” The deal establishes a provisional national unity administration to oversee the West Bank, Gaza Strip, and Jerusalem while planning for elections. It aims to strengthen Palestinian institutions and unites opposition to Israeli settlements and displacement initiatives, marking a critical step towards Palestinian reconciliation.

The deal, reached in Beijing after three days of rigorous negotiations from July 21 to  23, aims to resolve the long-standing disagreement between the two terror groups. Chinese official media announced the agreement as U.S. Secretary of State Antony Blinken hinted at an imminent suspension of hostilities between Israel and Hamas. Chinese Foreign Minister Wang Yi attended the signing ceremony, which also included representatives from twelve other political groups. This announcement came on the same day when Israeli PM Benjamin Netanyahu arrived in Washington, against the backdrop of the nine-month-long Israel-Hamas conflict that has claimed nearly 40,000 Palestinian lives.

The development highlights China’s growing influence in Middle Eastern diplomacy and establishes it as a rival to the United States in international mediation. It demonstrates China’s expanding role in global diplomacy, following its recent success in mediating the restoration of diplomatic ties between Iran and Saudi Arabia.

Since Hamas took tyrannical control of Gaza in 2007, Hamas and the Palestinian Authority, led by Fatah, have engaged in numerous talks aimed at unity. Despite many promises, past reconciliation attempts have failed due to deep-rooted rivalries and the West’s insistence on not recognizing any Palestinian authority, including Hamas, unless it formally recognizes Israel.

Similarly, On March 10 of last year, Saudi Arabia and Iran agreed to restore diplomatic relations and reopen embassies within two months, with plans for further talks to strengthen bilateral ties. As evident, that Hamas is Iran’s puppet placed in Palestine against Israel, hence the Hamas-Fatah unification agreement, influenced by Tehran, underscores the shifting power dynamics in the area. Therefore, these events indicate a decline in Washington’s hegemony in the region and highlight China’s expanding influence in West Asia.

Though the Beijing Declaration represents a fresh effort to heal the decades-long rift between Fatah and Hamas, it might come as a serious concern for the Middle east region considering the fact that two terror groups would be joining hands. Additionally, despite its lofty goals, a history of broken peace and persistent geopolitical difficulties cast doubt on the agreement’s chances of success. Global stakeholders will determine the efficacy of this most recent endeavor through their execution and approval.

Tags: Fatah and HamasHamasFatahDivision and Strengthen Palestinian National Unity
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