India-US deal to produce F-414 jets to be sealed by March
The mega plan to jointly produce the F-414 engines in India was announced during PM Narendra Modi's visit to Washington in 2023, though the programme suffered from several slippages because of protracted negotiations on the sharing of advanced technologies.
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Hans India
3 minutes ago
- Hans India
India to soon become space superpower, industry grew multi-fold in last 5 years: Experts
New Delhi: India is soon set to become a space superpower, and the industry has grown multifold in the last five years, said experts on Friday, lauding Prime Minister Narendra Modi's Independence Day speech on the space sector. In his address to the nation from the Red Fort, PM Modi said the nation is proud of its space sector. The Prime Minister stated that India is working towards becoming self-reliant in the space sector. Citing several space missions, like Gaganyaan, Chandrayaan, and Mangalyaan, space scientist Dr P K Ghosh, told IANS: 'I think we are very near to becoming a space superpower with all these projects coming up'. Ghosh lauded the PM for acknowledging the space sector, which 'has achieved a lot of technologies on our own, capabilities'. One such example is the Cryogenic Engine technology. Another is the Gaganyaan mission -- India's flagship human spaceflight programme -- for which preparations are underway, he said. Notably, the space feats have been achieved on a 'frugal budget and they have produced results'. Now 'other countries want to collaborate with us', Ghosh told IANS, while mentioning the recent NISAR mission conducted in collaboration with NASA, and other impending missions with Japan's space agency JAXA, as well as other countries. The PM had also mentioned plans to build our own space station -- Bharatiya Antariksh Station (BAS) -- and underscore the need to become self-reliant in the space sector. 'The BAS, which will come around after 2030, would be a major step. I think each of our 1.4 billion people should be very proud of it. Currently, we have the International Space Station and the Chinese Tiangong,' Ghosh said. 'Our youth have been really motivated to join the space sector,' the space scientist said, citing the 300 space startups in the country. Lt. Gen. AK Bhatt (retd.), Director General, Indian Space Association (ISpA) lauded the government's policy to open up the space sector to the private industry in 2020. He credited the policy behind the surge in space startups in the country. 'Our Hon'ble Prime Minister's visionary plan to open up India's space sector has been a true game-changer. Backed by progressive reforms such as the Space Policy, liberal FDI push, and strong government support, the industry has grown multi-fold in just five years,' Bhatt said. 'The surge in space startups and their achievements reflects an unprecedented wave of innovation and ambition among our youth. With this momentum, we are confident of achieving the goal of $44 billion space economy by 2033 and cementing India's position among the world's leading spacefaring nations. This is not just growth, it's a national movement inspiring every Indian to aim higher and reach for the stars,' he added.
Hans India
3 minutes ago
- Hans India
GST Reform India: Govt Plans Big GST Changes 2025 with Rate Cuts and New Slabs
The Indian government is preparing a major GST reform India plan, set to be announced by Diwali 2025. According to government sources, the revamped structure will simplify GST tax slabs, reduce rates for most goods, and bring relief to consumers and businesses. A Group of Ministers, including state finance ministers, is working on rationalising rates. The proposal introduces just two main GST slabs—5% and 18%—instead of the multiple slabs used today. Luxury goods will face a special 40% rate. Under the proposed GST changes 2025: 99% of goods in the 12% slab will move to the 5% slab. Around 90% of goods in the 28% slab will drop to 18%. Daily-use products will be taxed at 5%. Tobacco products will have a 40% GST rate, keeping the total India tobacco tax 40% burden at the current 88%. Petroleum products like diesel and petrol will remain outside GST. The goal is to get people to spend more, which could balance out any money the government loses from cutting GST rates. In his Independence Day speech, Prime Minister Narendra Modi called these changes a 'Diwali gift' for the people. He said they will make essential items cheaper and help small businesses grow. He also stressed that India should focus on making high-quality, affordable products to become more self-reliant. PM Modi also announced a new task force to recommend all necessary reforms for a 21st-century GST system. He emphasised that self-reliance is about building internal strength and capabilities, not limiting others, and that it is essential for maintaining India's economic power. With GST changes 2025, the government hopes to make the tax system simpler, fairer, and more growth-oriented, while giving relief to the common man and ensuring India's economic resilience.
Hindustan Times
3 minutes ago
- Hindustan Times
Centre likely to change GST slabs: What might get cheaper, what gets costlier?
The Centre is likely to amend the GST structure for several items, including daily-use products and luxury goods, among other items in a bid to rationalise the tax structure, news agency PTI quoted government sources as saying on Friday. The Centre is likely to amend the GST rates ahead of Diwali.(For representation/Mint) The development comes shortly after Prime Minister Narendra Modi on Friday announced during his Independence Day speech that he will make "this Diwali, double Diwali" for the people of the country. PM Modi promised a Diwali gift in the form of a "big reform of GST." What we know so far on GST-related changes? The government sources have said that the central government has proposed to scrap the existing tax slabs of 12 per cent and 28 per cent of GST rate and keep only 5 per cent and 18 per cent GST rates. The government is also expected to slash the tax on 90 per cent of the goods under the 28 per cent tax bracket and will bring it down to 18 per cent. Similarly, the goods in the 12 per cent slab are proposed to move in the 5 per cent slab. However, the government is also set to introduce a new slab of 40 per cent, which would include goods like tobacco, pan masala and luxury items. A meeting of the GST Council is likely to be held in September or October to consider the proposal. What gets cheaper & what gets expensive? The government sources told news agency ANI that the restructuring of the existing tax slabs and the new slabs will have marginal negative effect on GST collection. A proposal has already been sent to the Group of Ministers (GoM) to enable constructive and inclusive dialogue. The move is likely to benefit economic sectors like agriculture, textiles, fertilisers, renewable energy, automotive, handicrafts, healthcare, insurance, construction, transportation, ANI reported. However, there is a proposal to move "sin goods" like tobacco and pan masala to a new tax slab of 40 per cent. The special rate will be applicable to only seven items, including tobacco. Products like diamonds and precious stones, which are labour-intensive and export-based, will continue to be taxed at the same rate. Meanwhile, the petroleum products will continue to remain outside the revamped GST regime.
