Election Commission of India does not exist: Rahul Gandhi on electoral malpractice ECI
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New Indian Express
a minute ago
- New Indian Express
Land 'illegally' owned by Assam CM to be distributed among poor after Congress comes to power: Gaurav Gogoi
"Unlike the loot and injustice under the Himanta Biswa Sarma regime, Congress is preparing to bring a new government based on progressive land policies and economic development," Gogoi said. All India Congress Committee General Secretary (in-charge of Assam) Jitendra Singh said the people of Assam now seek change through elections. "They are yearning to be freed from the misrule of Himanta Biswa Sarma, which has become synonymous with authoritarianism and corruption. Today, not just in Assam but across the nation, every citizen, including children and women, bears a debt burden of Rs 50,000 per head. "To rescue the country from this unstable economic condition, people are demanding change, and in Assam too, the Congress, under the leadership of Gaurav Gogoi, is preparing to form the next government by defeating Himanta Biswa Sarma in 2026," he added. Assembly elections in Assam for 126 seats are likely in March-April next year. The Extended Executive Meeting decided that starting in September, the Congress will intensify its organizational activities and begin a series of campaigns against BJP's alleged corruption. Gogoi also accused both the Sarbananda Sonowal and Himanta Biswa Sarma governments of deceiving people with false promises, having failed to implement the various reports and suggestions by different committees. He noted that the Extended Executive Meeting saw participation from representatives of various communities across Assam and included long deliberations on protecting the rights and interests of indigenous people. Following these discussions, economic and political resolutions were adopted. These include comprehensive proposals to reform the economy, rescue indebted Assam, create employment, and ensure inclusive and equitable development for all citizens.
Indian Express
a minute ago
- Indian Express
Congress says common man's dream of owning a house ‘shattered', BJP retorts: ‘claims baseless'
Claiming that the collector rates have been increased varying between 100 to 250 per cent in several districts across the state, the Congress has slammed the BJP government in Haryana, saying the steep hike will 'shatter' the common man's dream of owning a house. The state government, however, refuted the Opposition's claims, calling it 'rumours', 'baseless', and 'devoid of any factual basis'. In a statement released on Sunday evening, the government said only 8.37 per cent areas across Haryana that fall in the category where 'transaction value exceeds the collector rate by more than 200 per cent, a maximum of 50 per cent hike in collector rate has been implemented'. Collector rates are the minimum value at which any property can be registered in the government records. These rates serve as the benchmark to estimate the registration fee and stamp duty that needs to be paid while buying a property. The government's spokesperson added that in 72.01 per cent areas across Haryana, where the transaction value falls within 0 to 35 per cent of the collector rate, a 10 per cent hike in collector rate has been implemented. 'Nowhere has the rate been increased by more than 50 per cent. In fact, in many areas, the revision has been limited to just 10 per cent or 15 per cent. Moreover, even after these adjustments, collector rates in most places remain significantly lower than the prevailing market rates,' the spokesperson said. Addressing the media on Sunday, Congress MP Randeep Singh Surjewala said: 'According to an estimate, the increase in collector rate will put a burden of Rs 5,000 crore on the people of Haryana annually… the steep hike in collector rates will shatter the common man's dream of owning a house'. 'The hike has triggered widespread criticism and raises serious concerns about housing affordability, especially for the poor, middle class, and lower-income groups,' he added. Questioning the rationale behind this steep hike, Surjewala accused the government of burdening the common man to meet government's own revenue targets and benefit private developers. 'In 2022, the state government had promised a pucca house for every citizen. However, that dream now appears to be slipping away, as rising land valuation, inflated property prices, and increased stamp duty are making homeownership unaffordable for many. The average citizen, already struggling with EMIs, is now facing an additional burden due to inflated registration and documentation costs,' the Congress MP added. Making further assertions, the Congress leader said, 'The state budget for 2025–26 sets a revenue collection target of Rs 16,555 crore through stamp duty and registration fees — up from Rs 14,000 crore in 2024–2025. To bridge fiscal gaps, especially those created by declining revenues from excise and liquor taxes, the government has now chosen to increase the collector rates as a backdoor tax. The collector rate hike disproportionately affects the housing sector, triggering automatic price increases in flats, plots, and builder projects. This is especially evident in regions developed under the Deen Dayal Awas Yojana, where builders shall be passing on the cost to buyers. As a result, housing inflation will continue to rise, making even basic housing unaffordable for many'. Drawing a comparison between 2018-19 and 2024-2025, Surjewala said, 'Collector rates have been increased between 50 per cent and 250 per cent in cities like Gurugram, Faridabad, Panchkula, Ambala, Karnal, Rohtak, Rewari, and Sonipat. This massive jump has occurred even as basic civic infrastructure — roads, water supply, sewage — remains inadequate in many areas'. Surjewala also raised 10 pointed questions seeking the chief minister's reply, with the main ones being the absence of a clear, scientific framework for collector rate revisions, lack of mechanism to ensure affordable housing, and the alleged nexus between government and real estate developers. The government, however, refuted Surjewala and other Opposition leaders' claims. A government spokesperson said, 'Revision of collector rates is a routine annual exercise carried out transparently and in alignment with prevailing market prices. This revision is guided by a data-driven and rational methodology, which analysis the top 50 per cent of property registrations in each segment specifically, where the transaction value exceeds the prevailing collector rate'. The spokesperson added that the 'government's aim is to promote transparent transactions, effectively curb black money, and provide the public with the opportunity to buy and sell property at fair and real market values'. What does the government claim? — A total of 2,46,812 collector rate segments across Haryana have been revised, with increases applied according to their respective transaction value slots, government spokesperson said. — 1,77,731 segments, accounting for 72.01 per cent of the total, fall within the 0 to 35 per cent transaction value slot, where a 10 per cent increase has been implemented. — 19,966 segments (8.09 per cent) fall within the 35 to 70 per cent transactional value slot, where a 15 per cent increase has been applied. — 10,985 segments (4.45 per cent) where the transaction value exceeds the collector rate by 70 to 100 per cent, a 20 per cent increase has been implemented. — 11,078 segments (4.49 per cent) fall in the 100 to 150 per cent slot, where the increase is 30 per cent. — 6,393 segments (2.59 per cent) fall in the 150 to 200 percent range, where a 40 per cent increase has been applied. — 20,659 segments (accounting for 8.37 per cent of the total), fall in the category where the transaction value exceeds the collector rate by more than 200 per cent, a maximum increase of 50 per cent has been implemented.
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Business Standard
a minute ago
- Business Standard
US policymakers may start relying on Trump tariffs for federal revenue
Andrew Duehren US President Donald Trump's extensive tariffs have already started to generate a significant amount of money for the federal government, a new source of revenue for a heavily indebted nation that US policymakers may start to rely on. As part of his quest to reorder the global trading system, Trump has imposed steep tariffs on America's trading partners, with the bulk of those set to go into effect on August 7. Even before the latest tariffs kick in, revenue from taxes collected on imported goods has grown dramatically so far this year. Customs duties, along with some excise taxes, generated $152 billion through July, roughly double the $78 billion netted over the same time period last fiscal year, according to Treasury data. Indeed, Trump has routinely cited the tariff revenue as evidence that his trade approach, which has sowed uncertainty and begun to increase prices for consumers, is a win for the United States. Members of his administration have argued that the money from the tariffs would help plug the hole created by the broad tax cuts Congress passed last month, which are expected to cost the government at least $3.4 trillion. 'The good news is that Tariffs are bringing Billions of Dollars into the USA!' Trump said on social media shortly after a weak jobs report showed signs of strain in the labour market. Over time, analysts expect that the tariffs, if left in place, could be worth more than $2 trillion in additional revenue over the next decade. Economists overwhelmingly hope that doesn't happen and the United States abandons the new trade barriers. But some acknowledge that such a substantial stream of revenue could end up being hard to quit. 'I think this is addictive,' said Joao Gomes, an economist at the University of Pennsylvania's Wharton School. 'I think a source of revenue is very hard to turn away from when the debt and deficit are what they are.' Trump has long fantasised about replacing taxes on income with tariffs. He often refers fondly to American fiscal policy in the late 19th century, when there was no income tax and the government relied on tariffs, citing that as a model for the future. And while income and payroll taxes remain by far the most important sources of government revenue, the combination of Trump's tariffs and the latest Republican tax cut does, on the margin, move the US away from taxing earnings and toward taxing goods. Such a shift is expected to be regressive, meaning that rich Americans will fare better than poorer Americans under the change. That's because cutting taxes on income does, in general, provide the biggest benefit to richer Americans who earn the most income. The recent Republican cut to income taxes and the social safety net is perhaps the most regressive piece of major legislation in decades. Placing new taxes on imported products, however, is expected to raise the cost of everyday goods. Lower-income Americans spend more on those more expensive goods, meaning the tariffs amount to larger tax increase for them compared to richer Americans. Tariffs have begun to bleed into consumer prices, with many companies saying they will have to start raising prices as a result of added costs. And analysts expect the tariffs to weigh on the performance of the economy overall, which in turn could reduce the amount of traditional income tax revenue the government collects every year. 'Is there a better way to raise that amount of revenue? The economic answer is: Yes, there is a better way, there are more efficient ways,' said Ernie Tedeschi, director of economics at the Yale Budget Lab and a former Biden administration official. 'But it's really a political question.' Tedeschi said that future leaders in Washington, whether Republican or Democrat, may be hesitant to roll back the tariffs if that would mean a further addition to the federal debt load, which is already raising alarms on Wall Street.
