MIPP: Ditch 'mandor' system, PM should head proposed Indian committee
Its deputy president S Subramaniam said any attempts to rope in another Indian leader to head the committee would only create a 'mandor' system.
'Although no official announcement has been...
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Malaysia Sun
5 hours ago
- Malaysia Sun
Foreign Secretary Vikram Misri calls on Nepal PM Oli during two-day visit
Kathmandu [Nepal], August 17 (ANI): Visiting Foreign Secretary Vikram Misri on Sunday paid a courtesy call on Prime Minister KP Sharma Oli, kick-starting his two-day visit to the Himalayan nation. Misri met Prime Minister Oli at his office in Singha Durbar, according to a statement from the PM's secretariat. During the meeting, Chief Advisor to the Prime Minister Bishnu Prasad Rimal, Indian Ambassador to Nepal Naveen Srivastava, and other officials from Nepal's Foreign Ministry were present. Misri is in Kathmandu on a two-day official visit at the invitation of his Nepali counterpart, Foreign Secretary Amrit Bahadur Rai. The Foreign Secretary, who arrived in Kathmandu this morning, is scheduled to hold several high-level meetings throughout the day. These include meetings with Nepali President Ram Chandra Paudel, former Prime Minister and Nepali Congress President Sher Bahadur Deuba, Foreign Minister Arzu Rana Deuba, and former Prime Minister and CPN-Maoist Centre Chairman Pushpa Kamal Dahal. The visit comes as part of preparations for an upcoming official trip by Nepal's Prime Minister KP Sharma Oli to India, scheduled for August 29. Discussions are expected to focus on setting the agenda for that visit. During Misri's stay, the foreign secretaries of both countries will review and discuss various aspects of Nepal-India relations, including cooperation in trade, connectivity, energy, and regional development. The Indian Ministry of External Affairs (MEA) described the visit as part of the tradition of regular high-level exchanges between the two neighbours, stating, 'This visit will provide an opportunity to further strengthen and advance bilateral relations. Nepal holds a high priority under India's Neighbourhood First Policy.' The visit also lays the groundwork for a planned meeting between Indian Prime Minister Narendra Modi and Nepali Prime Minister KP Sharma Oli in Bodh Gaya, Bihar, a site of deep spiritual and cultural significance believed to be where Lord Buddha attained enlightenment. (ANI)
The Sun
6 hours ago
- The Sun
Modi's tax overhaul to strain finances but boost image amid US trade tensions
NEW DELHI: Indian Prime Minister Narendra Modi's deepest tax cuts in eight years will strain government revenues but are winning praise from businesses and political pundits who say they will bolster his image in an ongoing trade fight with Washington. In the biggest tax overhaul since 2017, Modi's government on Saturday announced sweeping changes to the complex goods and services tax (GST) regime which will make daily essentials and electronics cheaper from October, helping consumers and also companies like Nestle, Samsung and LG Electronics. At the same time, in his Independence Day speech on Friday, Modi urged Indians to use more goods made domestically, echoing calls from many of his supporters to boycott U.S. products after Donald Trump hiked tariffs on imports from India to 50% as of August 27. The tax cut plan comes with costs given GST is a major revenue generator. IDFC First Bank says the cuts will boost India's GDP by 0.6 percentage points over 12 months but will cost the state and federal government $20 billion annually. But it will improve weak stock market sentiment and bring political dividends for Modi ahead of a critical state election in the eastern state of Bihar, said Rasheed Kidwai, a fellow at New Delhi-based Observer Research Foundation. 'GST reduction will impact everyone, unlike cuts to income tax, which is paid by only 3%-4% of the population. Modi is doing this as he is under a lot of pressure due to U.S. policies,' said Kidwai. 'The move will also help the stock market, which is now politically important as it has a lot of retail investors.' India launched the major tax system in 2017 that subsumed local state taxes into the new, nationwide GST to unify its economy for the first time. But the biggest tax reform since India's independence faced criticism for its complex design that taxes products and services under four slabs - 5%, 12%, 18% and 28%. Last year, India said caramel popcorn would be taxed at 18% but the salted category at 5%, triggering criticism about a glaring example of GST's complexities. Under the new system, India will abolish the 28% slab - which includes cars and electronics - and move nearly all of the items under the 12% category to the lower 5% slab, benefitting many more consumer items and packaged foods. Government data shows the 28% and 12% tax slabs together garner 16% of India's annual GST revenue of roughly $250 billion last fiscal year. 'A brighter gift' and politics Bihar is a key state politically and goes to the polls by November. A recent survey by the VoteVibe agency showed Modi's opposition has an edge largely because of a lack of jobs. 'Any tax cut has wide public appreciation. But of course, the timing is purely determined by political exigencies,' said Dilip Cherian, a communications consultant and co-founder of Indian public relations firm Perfect Relations. 'It seems to be an indication of some mixture of frustration as well as recognition that there is a broad public pushback against high and crippling rates of taxation.' Modi's ruling Bharatiya Janata Party has seized on his tax announcement, posting on X that on the Hindu festival of lights, Diwali, 'a brighter gift of simpler taxes and more savings is waiting for every Indian.' Modi has vowed to protect farmers, fishermen and cattlemen, following Trump's surprise tariff announcement on India, after trade talks between New Delhi and Washington collapsed over disagreement on opening India's vast farm and dairy sectors and stopping Russian oil purchases. The latest round of trade talks between the two nations set for August 25-29 has also been called off - REUTERS
The Star
8 hours ago
- The Star
US-India trade talks scheduled for August called off, source says
Trade talks between New Delhi and Washington collapsed after five rounds of negotiations. - Photo: AFP NEW DELHI: A planned visit by US trade negotiators to New Delhi from August 25-29 has been called off, a source said, delaying talks on a proposed trade agreement and dashing hopes of relief from additional US tariffs on Indian goods from Aug 27. The current round of negotiations for the proposed bilateral trade agreement is now likely to be deferred to another date that has yet to be decided, the source with direct knowledge of the matter said. The US embassy in New Delhi said it has no additional information on the trade and tariff talks, which are being handled by the United States Trade Representative (USTR). India's trade ministry did not immediately reply to a Reuters email seeking comments. Earlier this month, US President Donald Trump imposed an additional 25% tariff on Indian goods, citing New Delhi's continued imports of Russian oil in a move that sharply escalated tensions between the two nations. The new import tax, which will come into effect from Aug 27, will raise duties on some Indian exports to as high as 50% - among the highest levied on any US trading partner. Trade talks between New Delhi and Washington collapsed after five rounds of negotiations over disagreement on opening India's vast farm and dairy sectors and stopping Russian oil purchases. India's Foreign Ministry has said the country is being unfairly singled out for buying Russian oil while the United States and European Union continue to purchase goods from Russia. - Reuters
