
L&TMRH metro rail ticket fare hike irks government
L&TMRHL had announced a 20-25% hike on metro train ticket fares from May 17 and within a few days, revised the same with a 10% discount from May 24 effectively changing the hike in ticket fares from ₹1 to ₹19 in all the three metro corridors — Red, Blue and Green.
The service operator had cited the recommendation of the Centre-appointed Fare Fixation Committee (FFC), headed by a retired high court judge (with representatives of the Centre and State), for the ticket fare hike. The firm had earlier revoked the discount on non-peak hours, but retained the student passes.
Chief Minister A. Revanth Reddy had apparently conveyed to the metro rail authority to keep in abeyance the proposed ticket fare hike, according to official sources. Yet, the top management of the metro service operator went ahead with the announcement citing mounting losses due to project delay, high interest rate of loans and COVID suspension of services.
The sources said that the government had expressed its displeasure over the manner in which the fare revision was done by the top brass of the firm, while pointing out that it is a public, private partnership (PPP) project. There has been 10% drop in ridership post the new fares though metro rail officials say the numbers will stabilise in three months.
The government, which is reported to be upset with L&T over the Kaleshwaram Lift Irrigation Project construction imbroglio, has another gripe with the firm. It is about the pact to be made between L&TMRH and Hyderabad Airport Metro Limited (HAML) on sharing of existing infrastructure, including trains, metro lines and revenues, when the second phase becomes operational.
The Centre, currently studying the detailed project reports (DPRs) for the HMR second phase of 76.4 km estimated to cost ₹24,269 crore for five corridors, has sought an advance pact from PPP concessionaire and the State government. The government was irked over the unhurried stance of the firm. Although a pact seems to be place now. Further, the government wants to put pressure on L&TMRH to purchase new train sets, which it has been proposing for a while, in view of the rush hours peak ridership.
L&TMRH has been in talks with a public sector firm for buying 10 three-coach train sets in two stages though it is yet to firm up the contract. 'It could take at least 15-18 months for new trains to arrive. So, the concessionaire will be told to expedite matters,' said a top official.
L&TMRH has been running all the 57 train sets for making 1,075 trips a day from dawn to dusk across the 69.2 km in three routes of LB Nagar to Miyapur 29 km (Red), Nagole to Raidurg 29 km (Blue) and JBS to MGBS 11 km (Green) with an average of 4.75 lakh riders a day.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
35 minutes ago
- Time of India
Do you need to file ITR-3 for AY 2025-26 (FY 2024-25)? Here's how you can know
ITR-U filing via ITR-3, ITR-4 forms Who can file ITR-3 for AY 2025-26 (FY 2024-25)? Key changes and deadline Academy Empower your mind, elevate your skills If a person is the director of the company Persons who had investments in unlisted equity shares at any time during the entire financial year Income from other sources Income of a person who is a partner in a firm Income from salary or pension Income from house property (one or more) Total income can exceed Rs 50 lakhs in this case Income earned from capital gains or foreign assets/foreign income Who has income under the head profits or gains of business or profession and who is not eligible to file Form ITR-1 (Sahaj), ITR-2, or ITR-4 (Sugam) Key changes in ITR-3 form for AY 2025-26 (FY 2024-25) Schedule-Capital Gain split for gains before/after 23.07.2024 (post changes in Finance Act, 2024) Capital loss on share buyback allowed if corresponding dividend income is shown as income from other sources (post 01.10.2024) Asset & liability reporting limit raised to Rs 1 crore of total income Reference of Sec 44BBC (cruise biz) added Enhanced reporting for deductions [80C,10(13A)], etc. The TDS section code to be reported in Schedule-TDS The government has extended the due date for filing ITR from July 31, 2025, to September 15, 2025. The deadline for accounts that are needed to be audited is October 31, 2025. What are the new changes in ITR-3 tax form? The threshold for mandatory reporting of assets and liabilities has been increased to Rs 1 crore, easing the compliance burden for many taxpayers. Taxpayers now have to specify whether the transfer of a capital asset resulting in capital gains took place before or after July 23, 2024, as that would determine the applicable capital gains tax rates. ITR-3 also provides for reporting of consideration received from buyback of shares after October 1, 2024, as dividend income while allowing for corresponding cost of acquisition to be carried forward as capital losses. It provides for reporting of TDS under the specific Section under which tax has been deducted. There are detailed disclosure requirements for deductions claimed to offset taxable income. The reporting requirements for virtual digital assets have been expanded under ITR-3. The Excel utility has been updated to reflect these changes in the ITR-3 form. Whether you are a new taxpayer or a seasoned one, filing income tax return (ITR) can be confusing for you, especially if you are choosing the correct ITR form. For AY 2025-26 (FY 2024-25), individual taxpayers and those from Hindu Undivided Families (HUFs) having income from business or profession are required to file their income tax return using the ITR-3 form. The Income Tax Department (I-T) has introduced several key changes in the ITR-3 form this Central Board of Direct Taxes (CBDT) has enabled updated income tax return (ITR-U) filing via ITR-3 and ITR-4 forms on the ITR e-filing portal for AY 2021-22 and 2022-23. The ITR-U return via ITR-3 and ITR-4 forms can also be filed using the respective ITR form's offline Excel read: ITR-3 Excel utility for AY 2025-26: Seven major changes in ITR-3 Excel utility that all taxpayers including stock traders should note Individual and HUF taxpayers who have income from business or profession, partner of a firm, and individual taxpayers having gains and losses from futures and options or international trading can file the ITR-3 form In Budget 2024, the ITR-3 form was updated to include the presumptive taxation provisions under Section 44BBC (cruise business) for income derived from business and to chartered accountant Abhishek Soni, co-founder, Tax2Win, ITR-3 is to be used by either an individual or a Hindu Undivided Family who are carrying on a business or profession. The following persons are eligible to fill this form:The residential status can be either Non-resident or Resident (ROR/RNOR)According to the Income Tax Department, key updates for ITR-3 are:SR Patnaik, Partner (head - taxation), Cyril Amarchand Mangaldas, highlights the important changes introduced in ITR-3 Form for AY 2025-26:


Mint
6 hours ago
- Mint
Buy or sell: Vaishali Parekh recommends three intraday stocks to buy today — 20 August 2025
Buy or sell stocks: The key benchmark indices of the Indian stock market extended gains for the fourth session amid strong global cues. Investor sentiment remained buoyed by reports of a streamlined Goods and Services Tax (GST) structure, expected to boost spending and fuel consumption. The Nifty 50 index started the session flat; however, it gained momentum as the session progressed to form an intraday high of 25,012 in the mid-session. The 50-stock index thereafter consolidated in a range to close just below the 25,000 levels. At close, the Sensex was up 370 points or 0.46% at 81,644, and the Nifty was up 103 points or 0.42% at 24,980. Among sectors, except pharma, all other sectoral indices ended in the green, with telecom, FMCG, media, auto, and oil and gas up 1%- 2% each. The Nifty midcap 100 and small cap 100 indices rose 0.97% and 0.7%, respectively. Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment improved as the Nifty 50 index closed above 50-DEMA resistance at 24,815 levels. A decisive breakout above 25,100 would inject a fresh bull trend on Dalal Street. Speaking on the outlook of the Nifty 50 index, Vaishali Parekh said, "The Nifty 50 index has regained strength after witnessing two sessions of winning streaks from the close above the 50-DEMA level of the 24,800 zone and has retested the 25,000 level once again, expecting further rise in the coming sessions. With the undertone maintained positive along with the broader markets indicating active participation, the index is maintained positive, and as mentioned earlier, once the recent peak of the 25,100 zone is breached decisively, we can anticipate higher targets of the 25,200 and 25,300 levels in the coming days. As mentioned earlier, the crucial support zone would be positioned near the 24,800 level, which needs to be sustained." On the outlook of the Bank Nifty today, Parekh said, "The Bank Nifty index continues to oscillate between the narrow range of the 56,000 zone, which is acting as a tough hurdle, and on the downside is supported by the 55,500 zone, which needs to be sustained to keep the positive bias intact. A decisive breach above the 56,000 level shall trigger a fresh upward move with targets of 56,500 and 57,000 levels achievable in the coming sessions." Parekh said that immediate support for the Nifty 50 index is 24,800, while the resistance is 25,100. The Bank Nifty would have the daily range of 55,400 to 56,500. Regarding intraday stocks to buy today, Vaishali Parekh recommended these three shares: UPL, L&T Finance, and Exide Industries. 1] UPL: Buy at ₹ 707, Target ₹ 750, Stop Loss ₹ 690; 2] L&T Finance: Buy at ₹ 217, Target ₹ 535, Stop Loss ₹ 210; and 3] Exide Industries: Buy at ₹ 393, Target ₹ 420, Stop Loss ₹ 383. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.


India.com
9 hours ago
- India.com
Rising H-1B Uncertainty: 45% Of Indian Professionals In US Would Return Home, 24% Fear Pay Cuts, Deportation Risks Grow Amid Trump's Visa Shakeup
New York: Indians working in the United States on H-1B or L-1 visas are reconsidering their long-term plans in the wake of rising uncertainties. A recent Blind poll, conducted anonymously for verified professionals, found that 45% would return to India if job loss forced them to leave the United States. Another 26% said they would move to a different country, while 29% remain undecided. Pay cuts and quality-of-life concerns top the list of worries for those contemplating a return. About 25% cited lower pay as a deterrent, 24% mentioned a dip in living standards, 13% highlighted cultural or family adjustments and 10% feared fewer job opportunities. When asked if they would apply for a U.S. work visa again, only 35% said yes. The majority (65%) were either unsure (27%) or negative (38%), indicating a growing shift in perception about the benefits of American work visas. Personal experiences feed this sentiment. Over one-third of respondents (35%) said they or someone they knew had to leave the United States following a job loss, often facing deportation risks during the short grace period. Deportation Notices Before Grace Period Ends H-1B visa holders reported a rising trend of deportation notices being issued even before the 60-day grace period expires. One in six respondents said they or someone they knew had received a Notice to Appear (NTA) within weeks of losing a job. This could result in a permanent ban from the United States. 'Multiple cases where NTAs were sent in 2 weeks. Immigration lawyers now advise leaving as soon as possible after [the] job ends otherwise you risk a permanent ban from the US,' wrote one Meta user on Blind. Normally, H-1B workers get 60 days to find a new employer or switch visa status, but reports since mid-2025 suggest notices arriving as early as two weeks into the grace period. Trump's Comments Stir Debate President Donald Trump recently urged U.S. companies to 'stop hiring in India'. The Blind survey found 63% of U.S.-based professionals felt this could benefit their companies, while 69% of India-based respondents believed it would harm their firms. The survey was conducted from July 28 to August 8, 2025. Potential Visa Rule Changes On August 8, the US Office of Information and Regulatory Affairs (OMB) cleared a proposal to change H-1B visa rules. Titled 'Weighted Selection Process for Registrants and Petitioners Seeking to File Cap-Subject H-1B Petitions', it is now with US Citizenship and Immigration Services (USCIS) for public comment. While the text of the proposed rule has not yet been released, the proposal could potentially replace the current random H-1B lottery system with a wage-based selection process. The measure revives Trump's first-term effort to prioritise higher salaries. In January 2021, near the end of Trump's first term, he attempted to implement a rule that tied the H-1B lottery selection to wage level. This new rule will likely resemble the 2021 version. At present, H-1B selection is a lottery. Under a wage-based system, the USCIS would rank applications by offered salaries, starting from the highest until the annual cap is reached. Luck takes a back seat. The H-1B programme allows 85,000 visas annually: 65,000 for general applicants and 20,000 for holders of US master's degrees or higher. If applications exceed the cap, a computerised lottery determines selection. Tech firms rely heavily on this programme. If the rule mirrors the 2021 attempt, cap-subject H-1B petitions for entry-level positions would have almost no chance of selection. This would significantly affect foreign graduates seeking work in the United States.