SC takes note of ‘disturbing pattern' as helicopter crash surge in Kedarnath
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Time of India
3 minutes ago
- Time of India
PM Modi's GST reform push wins industry praise
Prime Minister Narendra Modi unveils major GST reforms. The government plans to revamp the GST structure. Current 12% and 28% slabs may be scrapped. Only 5% and 18% rates are likely. Most items from higher slabs will move down. This move aims to boost the economy. Experts believe it will benefit consumers and businesses. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Prime Minister Modi's announcement of sweeping GST reforms has received significant praise from the industry and business Modi, in his address to the nation, announced that the government will revisit the provisions of GST and reform the PM's speech, government sources said that the Centre has proposed to scrap the current slab of 12 per cent and 28 per cent of GST rates and keep only 5 per cent and 18 per cent GST further added that as part of the initiative, 99 per cent of the 12 per cent slab is proposed to move to the 5 per cent slab, and 90 per cent of the items in the 28 per cent slab are proposed to move to the 18 per cent of India Cellular & Electronics Association (ICEA) Pankaj Mohindroo said, "GST was an extraordinary reform and it was committed that GST would not increase tax on he general public but it has gone up in some pockets like mobile phones and electronics. The overall rationalisation into fewer slabs is very much on the cards because we have to prepare for Viksit Bharat @ 2047... GST reforms will put more money in the pocket of consumers and it will stimulate demand and it will be good for the industry and the consumers."Economist Ved Jain said, "The Prime Minister's announcement was basically that it has been eight years since GST was introduced and we have experience, collections have improved, AI is being used to carry out data analysis... Since we transitioned from VAT to GST, the government was unsure how it would turn out and the collections that would be made, so the government decided to go with four tax slabs- 6%, 12%, 18%, and 28%. After eight years, the number of tax rates must be reduced and there are likely to be two tax rates now- a standard rate between 12-18%, a merit rate, and a demerit rate... There is a structural reform that is required, given our experience."Ranjeet Mehta, CEO & Secretary General, PHDCCI, said that the GST reforms by October are going to benefit the country in the coming move to cut GST on daily-use items and simplify tax slabs will greatly benefit small traders, MSMEs, and the retail sector, while giving a big push to the economy ahead of the festive season, said BJP MP and Secretary General of the Confederation of All India Traders ( CAIT), Praveen Khandelwal, reacting to the announcement.
New Indian Express
24 minutes ago
- New Indian Express
Centre's nod soon for Future City-Bandar port connectivity: CM Revanth Reddy
Restructuring of debts Accusing the previous BRS government of borrowing at a high interest rate of 11.5% for a short term of 12 years for the Kaleshwaram project, Revanth said his government had already spent `29,000 crore servicing these loans. He claimed that every rupee spent on Kaleshwaram was yielding only 42 paise in returns. 'During all my visits to Delhi, I have requested Prime Minister Narendra Modi to restructure the state's debts at lower interest rates. In the first phase, the Centre restructured `26,000 crore for 35 years at 7.5% interest. I am now urging the Centre to restructure `2 lakh crore for 35 to 40 years at the same interest rate,' he said. He pointed out that Andhra Pradesh has six airports, while Telangana has only one. 'Those who claim to have read 80,000 books never recognised the need for a second airport in the state. I have secured permissions for Warangal and Adilabad airports,' he said, again stressing the need to seek approvals and funds from Delhi. Appealing to realtors not to believe rumours, he said: 'Some people are calling Future City a 'Four Brothers City'. You are all my brothers; I am designing it for your benefit. I don't care about others' comments.' He recalled that when YS Rajasekhara Reddy planned the ORR, some likened it to an anaconda, and when N Chandrababu Naidu proposed HITEC City, allegations were made that it was for land dealings. He admitted that some would benefit wherever development happens. Policy without paralysis He assured that despite political differences or changes in government, the state's core development policy would remain unchanged. 'Policy without paralysis is my motto. The development initiated from Nedurumalli Janardhan Reddy to Chandrababu Naidu to YS Rajasekhara Reddy has helped Hyderabad grow into a global city,' he said. 'Telangana has a rich culture. We will not compromise on development despite political differences. If anyone wants to settle scores with me personally, I will deal with them — but not at the cost of the state's development. My government will encourage investment and progress,' he said. He cautioned investors that political parties or leaders may have their own agendas, and that individuals from certain families, castes, or regions might spread falsehoods if they feel sidelined. 'Do not believe or spread such lies, as they will obstruct the state's progress,' he told realtors. Revanth described himself as a CM with a middle-class mindset and a strong sense of accountability, unlike others who, he alleged, looted and diverted funds abroad. 'I may not grant some of your requests like they did, but I will impress you with policies that ultimately benefit people and make Hyderabad one of the top cities in the world,' he said.
New Indian Express
24 minutes ago
- New Indian Express
In Independence Day speech, CM Revanth Reddy urges Centre to clear BC quota bills
HYDERABAD: Chief Minister A Revanth Reddy on Friday urged the Centre to approve Telangana's landmark bills providing 42% reservation for Backward Classes (BCs) in local bodies, education and employment. The CM was addressing the gathering after hoisting the national flag during the 79th Independence Day celebrations held at Golconda Fort. Citing figures from the socio-economic survey conducted by the state government, covering 1.12 crore families, Revanth said the findings revealed that BCs constitute 56.33% of the state's population. 'Based on this data, our government has introduced 42% reservation for BCs. The bills passed by the state legislature have been sent to the Centre for approval. On this historic occasion, I urge the Union government to clear the bills,' he said. Revanth underscored his government's commitment to social justice, highlighting that Telangana is the first state in the country to implement Scheduled Caste (SC) sub-categorisation following a Supreme Court verdict, classifying 59 sub-castes into three distinct groups. The chief minister also painted a stark picture of the state's fiscal health, revealing that the Congress government had inherited a staggering debt burden of Rs 8,21,652 crore. This included Rs 6,71,757 crore in borrowings, Rs 40,154 crore in pending employee dues and scheme liabilities, and Rs 1,09,740 crore in obligations under the SC/ST sub-plan, Singareni Collieries, and the power sector, he said. Despite these constraints, the government has serviced Rs 2,20,676 crore in debt — Rs 1,32,498 crore in principal and Rs 88,178 crore in interest — while continuing welfare initiatives, he added. 'Mahalakshmi scheme benefitted women, RTC' Revanth, meanwhile, said that the Mahalakshmi scheme, which provides free bus travel for women, was a success. 'Launched within 48 hours of the government taking charge, the initiative has issued over 200 crore zero-fare tickets, saving women passengers an estimated Rs 6,790 crore collectively,' he highlighted. 'This is not just about free travel — it is about financial independence, educational access, and social mobility for women,' he said, adding that the scheme revitalised the state's transport corporation.
