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First Post
16 minutes ago
- First Post
India's strength lies in its growing middle class: PM Modi says 25 cr moved out of poverty
In his Independence Day speech, Prime Minister Narendra Modi hailed 25 crore people moving out of poverty and said that the country's strength lies in its growing middle class. In his Independence Day speech, Prime Minister Narendra Modi on Friday hailed 25 crore people moving out of poverty and said that the country's strength lies in its growing middle class. Modi said that he has himself seen poverty and that's why he makes sure that government's policies are not just limited to official files. 'There was a time when the poor, the marginalised, tribals, and persons with disabilities had to wander for their rights, spending their lives running from one government office to another. Today, the government comes to your doorstep, delivering schemes directly to the beneficiaries,' said Modi. STORY CONTINUES BELOW THIS AD The prime minister further hailed government's initiatives like the Jan Dhan Yojana, Ayushman Bharat, PM Awas Yojana, and Swanidhi Yojana, that are aimed at supporting people with financial inclusion, healthcare, housing, and self-employment aspects. #WATCH | Delhi: Prime Minister Narendra Modi says, "I didn't have to read about what poverty is in books, I know what it is. I have also served in the government, and that is why I have always tried to ensure that the government should not remain confined to files; it should… — ANI (@ANI) August 15, 2025 Separately, Modi also announced the 'Pradhan Mantri Viksit Bharat Rojgar Yojana' that will provide Rs 15,000 to people getting jobs for the first time. The scheme will also provide incentives to private companies to generate jobs.
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Business Standard
2 hours ago
- Business Standard
Impose Trump's illogical tariff on China, US importers too: Amitabh Kant
Former NITI Aayog CEO and G20 Sherpa Amitabh Kant on Thursday termed the additional 25 per cent tariff imposed by US President Donald Trump on Indian goods as "totally arbitrary" and lacking "any logic," urging that India should consider imposing similar duties on other countries, including US, which still imports critical minerals from Russia. "India should never bend. We should look at a long-term perspective. The Prime Minister has invested a lot in this relationship with the United States over the last decade. We should adopt a long-term perspective and ultimately win the game against the United States," Kant told ANI. He pointed out that other major economies, such as Turkey, the EU, and China, also import significant quantities of energy and minerals from Russia or China. "A 25 per cent tariff is arbitrary. It is not comprehensible to me because then you should also be imposing a 25 per cent tariff on China and Turkey. But you should also be imposing it on Europe, which is a very major importer of gas from Russia, and you should also be imposing it on many of the importers in the United States, as the United States is importing a lot of critical minerals from Russia; all critical minerals are still being imported from China. So it doesn't stand to any logic," he said. Kant also urged India to maintain its strategic autonomy and energy security in the face of proposed US tariffs, saying that India should prioritise its national interests and not compromise on its energy security, especially considering that India's oil imports from Russia are significantly lower than those of China or Turkey. The US has imposed a 50% tariff on Indian goods, citing India's continued purchase of Russian oil. "I'm a believer that India should not compromise on its energy security or its strategic autonomy. We are here for a long-term game, and we must win the long-term war. My belief is that we built up a relationship with the United States over two and a half decades, which was bipartisan. And this attempt to put a 50 per cent duty does not stand to logic because we import oil," he said. Earlier, Trump signed an executive order imposing an additional 25 per cent tariff on imports from India, citing matters of national security and foreign policy concerns, as well as other relevant trade laws. He claimed that India's imports of Russian oil, directly or indirectly, pose an "unusual and extraordinary threat" to the United States. The Ministry of External Affairs (MEA) had termed the US move "unfair, unjustified and unreasonable," and said New Delhi will take "all actions necessary to protect its national interests. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
News18
3 hours ago
- News18
US, China agree to 90-day tariff truce, easing trade tensions
Washington, DC [US], August 15 (ANI): The United States and China have agreed to extend their tariff truce for 90 days, CNN reported, citing an executive order signed by President Donald Trump. This move averts an immediate surge in duties that could have severely impacted trade between the world's two largest economies. Notably, the tariffs on Chinese goods would have skyrocketed to 54 per cent from 30 per cent, while Chinese tariffs on US exports would have jumped to 34 per cent from 10 per a joint statement with the US, China confirmed the 90-day trade truce extension and said it would maintain the 10 per cent tariffs it has imposed on American goods during that Joint statement follows bilateral negotiations held in Sweden last month, it said. The extension comes after Trump imposed a slew of 'reciprocal" tariffs on trading partners around the world, which have raised the United States' effective tariff rate to levels not seen since the Great Depression, as per to CNN, higher tariffs on Chinese goods, America's second-largest source of imports, would have almost certainly raised the costs many American businesses and consumers could pay — or already are paying — because of increased import taxes Trump has meeting in Sweden in July, Chinese negotiators went as far as to say that a deal was reached. Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer, both of whom attended the meeting, disputed that, saying nothing was final without Trump's word. 'We'll see what happens. They've been dealing quite nicely. The relationship is very good with President Xi and myself," Trump had said on Monday. A White House fact sheet on the extension said trade discussions with China have been 'constructive" and quoted Trump saying: 'We're getting along with China very well."At the conclusion of last month's meeting with Chinese trade officials, Bessent said he warned his Chinese counterparts that continuing to purchase Russian oil would bring about huge tariffs under legislation in Congress that allows Trump to impose levies up to 500 per cent. (ANI)
