EAM Jaishankar joins envoys & other members of diplomatic corps as they mark International Day of Yoga
Like PM @narendramodi said today, the session was a true reflection of Yoga for everyone, beyond boundaries, backgrounds, age or ability. #IDY2025 pic.twitter.com/GFygjr3E4n
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India Today
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How the SCL fire in Mohali sabotaged India's chip dreams
On February 7, 1989, an unexplained fire at the Semiconductor Complex Limited (SCL) in Mohali, Chandigarh, destroyed the facility's main production line. Established in 1976 to build indigenous Indian chips, SCL began production in 1984 and was manufacturing 5000-nanometre (nm) chips, just one generation behind global standards at the was only 13 years after Intel introduced the world's first commercially available microprocessor and three years before chip giant Taiwan Semiconductor Manufacturing Company (TSMC) began production. Despite being a state-owned enterprise, SCL had made impressive strides. It was also engaged in research and development, working on more advanced semiconductors. The fire scorched that cause of the fire was never officially determined, but theories abound. Some attribute it to an accident, while others suspect sabotage. A key finding—that the fire had ignited at multiple points simultaneously—lent weight to the sabotage theory. The blaze caused losses estimated at Rs 75 crore in 1989. But the true cost the nation would pay would be known decades later. In 2024, India imported semiconductor chips worth $20 billion (Rs 1.71 lakh crore), with imports rising 18% annually. Semiconductors are now ubiquitous, powering everything from smartphones to moon missions, televisions to cruise took SCL nearly a decade to resume operations. By the time it reopened in 1997, the world had moved far ahead. In 2000, the government's efforts to divest part of SCL's equity were stalled by disagreements with potential private investors over terms. Bureaucratic delays further impeded 2006, the government restructured SCL as a research and development centre under the Department of Space, renaming it "Semiconductor Lab." In early 2023, SCL was shifted to the Ministry of Electronics and Information Technology (MeitY). Today, it produces 180-nm chips solely for defence, space, and other strategic applications deemed too sensitive for imports. (In contrast, TSMC manufactures 3-nm chips and is advancing to 2-nm chips in 2025.)India's quest for mass-produced, indigenous chips finally gained momentum in 2022 with the launch of the India Semiconductor Mission, backed by a Rs 76,000 crore August 2025, the government had approved 10 projects with investments worth Rs 1.60 lakh crore across six states. India is clearly not putting all its chips in one August 15, 2025, Prime Minister Narendra Modi announced that India would produce its first semiconductor chip by the end of the year. Like the mythical phoenix, India's chip dream is set to rise from the ashes.- Ends
Business Standard
25 minutes ago
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First Post
31 minutes ago
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2 slabs, no GST on life & health insurance — what PM Modi's promised tax reforms may offer you
Under proposed reforms, the current four slabs of goods and services tax (GST) will be reduced to two slabs of 5% and 18%. Many services are also expected to be exempted from the GST. Here is how these reforms will affect you. Under proposed reforms, the Narendra Modi government is expected to replace the current four slabs of goods and services tax (GST) with just two new slabs, according to CNBC-TV 18. The government is also expected to exempt more services from the GST. The development comes days after Prime Minister Modi announced 'next generation GST reforms' in his Independence Day speech on Friday. He announced the creation of a taskforce to evaluate all current laws, rules, and procedures related to economic activities to reduce compliance costs for startups, micro, small, and medium enterprises (MSMEs), and entrepreneurs, provide freedom from fear of arbitrary legal actions, and ensure laws are streamlined for ease of doing business. STORY CONTINUES BELOW THIS AD 'The government will bring Next Generation GST reforms, which will bring down tax burden on the common man. It will be a Diwali gift for you,' said Modi. These will be new GST slabs The CNBC-TV 18 has reported the government will reduce the four slabs that exist today (5 per cent, 12 per cent, 18 per cent, and 28 per cent) to two slabs of 5 per cent and 18 per cent. The 0 per cent slab will also exist for several goods and services. A third slab of 40 per cent 'sin tax' is also proposed for a narrow category of goods and services like tobacco and tobacco products, aerated and carbonated beverages with added sugar, and online betting, as per the report. Separately, Moneycontrol reported that term life insurance premiums and health insurance premiums for senior citizens are expected to be exempted from GST. Here is how these changes will affect you Under the 5 per cent slab, everyday essentials will come, government sources told CNBC-TV 18. All other goods will be in the 18 per cent slab except for 'sin goods' that will face 40 per cent tax. This would mean that many household goods and insurance premiums that might currently be in the 12 per cent slab will fall in the 5 per cent slab. This would include packaged food, clothes, footwear, cycle, eyewear, and everyday essentials like toothpowder and snacks. Similarly, all goods in the 28 per cent slab will fall in the 18 per cent slab, such as televisions, fridges, refrigerators, air-conditioners, two-wheelers and four-wheelers. Medicines and medical equipment are also expected to fall from the 12 per cent slab to 5 per cent or even 0 per cent, the report said. STORY CONTINUES BELOW THIS AD This would mean that most of the things for the middle class are bound to see GST rates fall. This is expected to result in lower costs of products and lower spending on these goods.
