logo
Nitin Gadkari takes ‘dadagiri' jibe amid US tariff hike, ‘will never have to bow down if…'

Nitin Gadkari takes ‘dadagiri' jibe amid US tariff hike, ‘will never have to bow down if…'

Mint19 hours ago
Union Minister Nitin Gadkari stressed that enhancing exports and advancing technological capabilities are key for India to attain economic self-reliance. In a vieled attack over 50 percent tariff on India, he accused on US President Donald Trump of 'dadagiri'.
Gadkari, while speaking at Visvesvaraya National Institute of Technology (VNIT) in Nagpur, said, "If our export and economic growth rate increases, I don't think we will need to go to anyone. Those who are doing 'dadagiri' are doing so because they are financially strong and have technology."
Gadkari's remarks on Saturday come days after Donald Trump signed an Executive Order imposing an additional 25% tariff on imports from India.
Trump cited matters of national security and foreign policy concerns, as well as other relevant trade laws, for the increase, claiming that India's imports of Russian oil, directly or indirectly, pose an "unusual and extraordinary threat" to the United States.
He added that despite becoming financially strong, India would remain guided by its culture. "Today, if we become financially strong and also become ahead in technology, even after this, we will not bully anyone because this is not in our culture. Our culture teaches us that the welfare of the world is the most important," Gadkari said.
Underscoring the importance of innovation, the minister noted, "Today the solution to all the problems of the world is science, technology and knowledge. If we use these three things, then we will never have to bow down to the world. Research centres, IITs, and engineering colleges should conduct research with the country's needs in mind. There are different things in all districts, states and regions. We have to work keeping everyone in mind. If we do such work continuously, then the growth rate of our country's economy will increase up to three times."
Terming the United States' move to impose additional tariffs on India over its oil imports from Russia as "unfair, unjustified and unreasonable," the Ministry of External Affairs (MEA) declared that New Delhi will take "all actions necessary to protect its national interests.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump Puts DC Police Under Federal Control, Deploys National Guard To Fight "Bloodthirsty Criminals"
Trump Puts DC Police Under Federal Control, Deploys National Guard To Fight "Bloodthirsty Criminals"

News18

time4 minutes ago

  • News18

Trump Puts DC Police Under Federal Control, Deploys National Guard To Fight "Bloodthirsty Criminals"

President Donald Trump deployed the National Guard to Washington DC as he announced a crackdown on crime and homelessness in the city. Trump said the capital has been "taken over by violent gangs and bloodthirsty criminals." Trump also announced that he's putting DC police under federal control as part of his bid to "take our capital back." The last time such a measure was used in DC was in response to the 6 January riots in 2021, which saw crowds of pro-Trump supporters force their way inside the US Capitol. n18oc_world n18oc_crux

‘Even Toilet Paper Will Cost More': Late-Night Comedians Colbert, Fallon Roast Trump's India Tariffs With Brutal Punchlines
‘Even Toilet Paper Will Cost More': Late-Night Comedians Colbert, Fallon Roast Trump's India Tariffs With Brutal Punchlines

India.com

time4 minutes ago

  • India.com

‘Even Toilet Paper Will Cost More': Late-Night Comedians Colbert, Fallon Roast Trump's India Tariffs With Brutal Punchlines

Washington: US President Donald Trump's trade policy has drawn fire not only from diplomats and economists, but from America's most popular late-night comedians. Stephen Colbert and Jimmy Fallon used their Thursday shows to take aim at his new 50 percent tariff on Indian goods. The penalty on India comes in two stages: a 25 percent hike that came into effect from August 7, followed by another 25 per cent due on August 27. Washington says the move is punishment for New Delhi's continued purchase of Russian oil. The tariffs apply to a long list of products, from medical supplies to everyday consumer items. On The Late Show, Colbert went straight for humour. He told viewers that the tariffs would push up the price of gauze, bandages and even wading. 'Perfect time to introduce my new product, Steve's wad. What is in them? What do you care? You are bleeding. It is a wad,' he joked. He kept the jabs coming. 'I hope you remembered to set your clocks back to 'more expensive',' Colbert said, referring to the scale of the global tariff rollout. He called the hikes 'huge' and emphasised that they raised import taxes to the highest level since the Great Depression of 1929. 'Never a great sign to be compared to the worst thing ever,' he quipped. Colbert pointed out that Brazil, like India, is also facing the full 50 percent tariff. 'Bad news for meat-based Americans,' he deadpanned. Jimmy Fallon, who hosts NBC's Tonight Show, joined in the mockery. 'Today more of President Trump's tariffs went into effect for more than 90 countries, including Canada, Brazil and India. The only places Trump did not charge are North Korea and Epstein Island,' he told his audience. The line landed in the wake of renewed scrutiny of the Trump's administration's handling of the Jeffrey Epstein scandal. Fallon said that Brazil's tariff will hit tropical fruit prices hard. 'Fifty per cent on Brazil will dramatically raise the price of bananas, mangos and pineapples. Edible Arrangements was like, 'As long as you do not raise the price of cantaloupe and long toothpicks, we are good,'' he said. Even everyday staples, Fallon warned, would not be spared. 'Toilet paper will get more expensive. You know it is bad when people come out of the bathroom like, 'Hey, where is that long CVS receipt?'' he said. Covering over 90 nations, the latest round of tariffs has set the stage for a prolonged trade confrontation. In the meantime, Colbert and Fallon seem determined to keep turning the policy into late-night punchlines.

New Income Tax Bill gets Lok Sabha nod
New Income Tax Bill gets Lok Sabha nod

Economic Times

time8 minutes ago

  • Economic Times

New Income Tax Bill gets Lok Sabha nod

The Lok Sabha on Monday gave its nod to the new income tax bill, which does away with alternate minimum tax on limited liability partnership (LLP) firms and allows refund claims even if taxpayers do not file returns within the due date. ADVERTISEMENT The Income Tax (NO.2) Bill, which will replace the Income Tax Act, 1961 from the next financial year, was introduced by Union finance minister Nirmala Sitharaman and passed in the Lok Sabha amid din without a debate. It will now go to Rajya Sabha for its approval. The bill cuts down wordage and chapters by almost half and presents the clauses in simpler and easier to understand language. It does away with the confusing concepts of assessment year and previous year, replacing them with "tax year". The original Income Tax Bill, 2025, which was introduced in February, was withdrawn by the minister on Friday and the new bill incorporating "almost all recommendations" of the select committee, headed by parliamentarian Baijayant Panda, which had scrutinised the original bill, was bill has maintained status quo on loss carry forward provisions, exempted non-profit organisations from taxing anonymous donations received by purely religious trusts and tweaked the definition of MSMEs (micro, small and medium enterprises) in alignment with the MSME Act, which were part of the recommendations of the panel. ADVERTISEMENT It has also reintroduced deductions in respect of certain inter-corporate dividends for companies opting for concessional rate of taxes in line with the provisions of the existing Income-tax Act, 1961 and nil tax collected at source on Liberalised Remittance Scheme remittances for education purposes financed by any financial bill has added the term 'profession' alongside 'business' under electronic payment rules, which means professionals with income of more than ₹50 crore annually must use prescribed electronic modes of payment. ADVERTISEMENT The bill has also clearly defined deductions for commuted pension and gratuity received by family said some of the pain points have been removed. ADVERTISEMENT "The revised Income-tax Bill, 2025 demonstrates the government's receptiveness to parliamentary recommendations, incorporating targeted amendments to enhance clarity, ease of compliance and consistency with existing legislation," said Sandeep Jhunjhunwala, partner, Nangia Andersen LLP. "To give a few examples, the provisions of levying alternate minimum tax on LLPs has been done away with, the rigours placed on charitable trust have been removed, the provisions of transfer pricing and the definition of 'associated enterprise' to whom these provisions apply, have been relaxed," said Dinesh Kanabar, CEO, Dhruva Advisors. (You can now subscribe to our Economic Times WhatsApp channel)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store