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Work underway on 10 new nuclear reactors: PM Modi

Work underway on 10 new nuclear reactors: PM Modi

Time of Indiaa day ago
New Delhi: Prime Minister
Narendra Modi
on Friday said India has introduced major reforms in the nuclear power sector and opened the doors in this segment to the private sector as the country aims to move towards
energy independence
.
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Addressing the nation on Independence Day, the prime minister said work is underway on 10 new nuclear reactors as India is moving to increase nuclear power generation capacity by over tenfold by 2047.
"Keeping in mind the future of energy, Bharat is also undertaking major initiatives in nuclear energy," he said. To have an active partnership with the private sector towards achieving this goal, the FY26 Union budget had proposed to bring amendments to the Atomic Energy Act and the Civil
Liability
for Nuclear Damage Act.
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The two Acts were introduced in the context of a state-owned nuclear thrust. The idea now is to encourage private sector participation as the clean energy requirement is set to rise in line with India's Viksit Bharat 2047 vision.
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"We are dependent on many countries for our needs for petrol, diesel and gas... It is important to make the country 'atmanirbhar' in energy," he said.
The prime minister stressed the importance of energy independence, saying this will be done for the bright future of youth and for the welfare of farmers. "Reform is a continuous process. As time progresses and situation arises, we need to keep reforming," Modi said.
While the world debates global warming, India has achieved its target of meeting 50% of its energy needs from clean sources in 2025, five years ahead of timeline. The country's solar power capacity has increased 30 times in 11 years, he added. India is making new dams so that hydro power can be developed and we get clean energy, and investing in green hydrogen mission.
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GoM meeting on GST reforms next week, tight timeline for Council's nod
GoM meeting on GST reforms next week, tight timeline for Council's nod

Indian Express

time8 minutes ago

  • Indian Express

GoM meeting on GST reforms next week, tight timeline for Council's nod

The Group of Ministers (GoM) on Rate Rationalisation is set to meet in the coming week to discuss the proposal on next-generation GST reforms Prime Minister Narendra Modi announced on Friday. The GoM has ministers from six states: Kerala, Uttar Pradesh, Rajasthan, West Bengal, Bihar and Karnataka. While the proposal was shared with the ministers from the six states a day before the PM's Independence Day address, the Department of Revenue in the Union Ministry of Finance will make a presentation to the GoM when it meets, sources said. Sources in the Union Finance Ministry said they were confident the GoM and later the GST Council would find merit in the proposal. Internal calculations by the Department of Revenue in the Finance Ministry suggest that gross GST revenues under the proposed two-pillar rate structure of 5 per cent and 18 per cent will not be lower than what it is now. Giving a broad idea of the proposal, sources said most of the products and services would be placed in either of the two rates — 5 per cent or 18 per cent. Goods and services used by the common man, or as inputs by farmers, small entrepreneurs and MSMEs, will attract the lower 5 per cent duty. This will reduce the tax burden and is expected to drive consumption. Most other goods and services will attract the 18 per cent rate, they said. Sources said that in categorising goods and services as sin and demerit goods and bracketing them under the special rate of 40 per cent, the Department of Revenue has kept in mind the country's 'social ethos'. At present, there are multiple rate slabs — 5 per cent, 12 per cent, 18 per cent and 28 per cent — and a compensation cess ranging from 1 per cent to 290 per cent that is levied on sin and luxury goods such as cars, refrigerators, air conditioners, pan masala, tobacco and cigarettes. With loans taken by the Centre to pay compensation cess to states getting recouped and fully repaid by November-December, the cess rates on goods are proposed to be subsumed at this special rate of 40 per cent, sources said. But on some goods like tobacco, the tax incidence is substantially higher than 40 per cent; the government is aware of this, and a separate mechanism may be arrived at in due course, the sources said. Though there might be an initial impact on revenues, the gains from higher compliance and consumption are expected to offset the losses, they said. Against a tight timeline, the Centre is learnt to have factored in at least three meetings of the GoM before a final proposal is put before the GST Council, the apex decision-making authority on aspects of the indirect tax regime that was introduced in 2017. Indications are that a rollout is being targeted well ahead of Diwali, since the industry needs time to reconcile to the new rate structure and any disruption ahead of the festive season would need to be avoided. 'In the eight years of GST, there has so far been patchy tinkering of tax rates and slabs. That piecemeal addressing of problems with the tax regime has only complicated the structure further and has ended up with a system that is even more complicated and layered than what was originally envisaged. What we are doing now is a holistic revamp of the tax system with two main rates that will be the two pillars of the tax regime,' said the source 'This structural reform to the tax regime would be accompanied by process reforms that include sorting out registration issues and problems with refunds, and changes in how automated notices are generated to make the interface smoother,' said the source. As per the proposal, the government is looking to implement pre-filled returns to reduce manual intervention, eliminate mismatches and compliance burden due to multiple notices. Changes will also be made on the refunds front, with the proposal aiming to provide a major portion of refunds within a fixed number of days and enable automated processing of refunds for exporters and those with inverted duty structure. 'In Income Tax, the tax department keeps your TDS (tax deducted at source) amount for one year and pays you the refund after your return filing. But since they pay fast, the taxpayer feels happy about it. In GST, there are refunds that are given three times or four times a year. But people still complain. Now, the crucial difference here is that in the case of GST, the timing is crucial, since it (the refund) is working capital for the enterprise. So, there is a need to make the processes faster. All these will be part of the process reforms,' the source said. The Centre is learnt to have factored in at least three meetings of the Group of Ministers (GoM) before a final proposal is put before the GST Council. Indications are that a rollout is being targeted well ahead of Diwali, since the industry needs time to reconcile to the new rate structure and any disruption ahead of the festive season would need to be avoided. The multiplicity of rates in the current GST regime, officials said, had triggered problems of implementation, confusion of interpretation, and disputes. 'So, we wanted to make it simple. Ideally, one tax rate would have been the best solution, but it is not practical. Currently, we have five rates, alongside the exempt items and special rates for items such as jewellery or diamonds. Now we would have two rates (5 per cent and 18 per cent). The third rate (40 per cent) is exceptional. You need to justify why something should go there. Currently, 28 per cent is part of the structure. 40 per cent in the new regime is not. That is the difference,' the source said. The PM's announcement has to be seen in the context of it being a proposal for states to consider, the source said. 'A reform like this should have everybody on board for it to work best. The GoM on rate rationalisation has been working on this issue for the last four years… The Centre has now taken a leadership position on this, and put this proposal for consideration of the panel,' a source said. The Centre, sources said, is convinced of the buoyancy from the rate rationalisation taking care of the worries stemming from revenue loss, unlike an earlier attempt in 2018 when rate cuts did not result in revenue gains. 'There were problems then (2018), since it (the cut) led to inversions in duty rates in multiple sectors and that led to some amount of gaming of the system by players to avail of input tax credits. Evasion grew… This move to revamp the rate structure (now) is to avoid inversions and inversions-related problems,' an official said. 'Technically, the states should be convinced. Politically, one has to see how they respond,' the official said.

Social Security August 20 retirees checks: Who qualifies, how much SSA will pay, complete details explained
Social Security August 20 retirees checks: Who qualifies, how much SSA will pay, complete details explained

Time of India

time18 minutes ago

  • Time of India

Social Security August 20 retirees checks: Who qualifies, how much SSA will pay, complete details explained

SSA retirees benefits august 20: Retirees across the United States are waiting for their next Social Security payment, and for one group of beneficiaries, the money will arrive on Wednesday, August 20, 2025 . These monthly checks are the financial backbone for millions of households, covering rent, groceries, prescriptions, and rising utility costs. But how much can retirees really expect to receive this month? Who gets paid on August 20? The Social Security Administration (SSA) distributes benefits on a staggered schedule each month. Payments go out in three rounds, based on the beneficiary's date of birth: Birthdays between the 1st–10th: paid on the second Wednesday Birthdays between the 11th–20th: paid on the third Wednesday Birthdays between the 21st–31st: paid on the fourth Wednesday Since August 20 is the third Wednesday of the month , this round will cover people born between the 11th and 20th of any month. That includes retirees, people receiving disability benefits (SSDI), and survivors who qualify through a late spouse or parent's work record. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Could This NEW Collagen Blend Finally Reduce Your Cellulite? Vitauthority Learn More Undo ALSO READ: IRS reportedly says $1,390 stimulus checks for eligible Americans are on the way: here are all the details In short: If your birthday falls between the 11th and 20th , expect your Social Security check on Wednesday, August 20, 2025 . The average retiree will get around $1,907 , though your exact amount depends on your work history and claiming age. Live Events How much will retirees receive on average? Not everyone gets the same Social Security check. The amount depends on your lifetime earnings, retirement age, and work history. But here are the 2025 averages, confirmed by SSA data : Retired workers: $1,907 per month on average Maximum benefit for high earners retiring at full age: up to $4,873 Disabled workers (SSDI): about $1,537 Widows, widowers, and dependents: payments vary depending on family circumstances For perspective: while $1,907 is the national average, many retirees see slightly less because they claimed benefits early, while others who delayed retirement until age 70 may be collecting much larger checks. How do you know your exact payment? Every recipient's amount is unique. The most reliable way to confirm your August 20 deposit is by checking your 'my Social Security' account at The portal shows your monthly benefit, payment history, and upcoming deposit dates. If you're not tech-savvy, the SSA still mails statements, and you can also opt for text or email alerts once you're signed up for direct deposit. What if your Social Security payment doesn't arrive? Sometimes payments don't hit bank accounts on time. If you don't see your August 20 check immediately, experts recommend: Wait three business days before reporting a missing payment Call SSA directly at 1-800-772-1213 Check your bank details and verify no changes to your direct deposit Update your personal information if you've recently moved or changed banks Late payments are rare but can happen due to system delays or incorrect account information. Can you change your Social Security payment date? No — the SSA's calendar is fixed and tied to birth dates. But you can change how you receive your benefits. Most retirees now use direct deposit or the Direct Express debit card , which is faster and more secure than waiting for a paper check. Why this August payment matters With inflation still stretching household budgets in 2025, Social Security payments are more than just routine deposits. They remain the primary source of income for about two-thirds of retirees , according to the Center on Budget and Policy Priorities. For many, the August 20 check will decide whether bills get paid on time or whether groceries need to be stretched until the next deposit. FAQs: Who will get Social Security August 20 retirees checks? Retirees with birthdays between the 11th and 20th. How much money will retirees get on August 20? The average check is about $1,900, but it varies. When are Social Security August 20 checks sent? On Wednesday, August 20, 2025. Do all retirees receive the same Social Security payment? No, amounts depend on work history and age. How can retirees check their August 20 SSA payment? They can log into their SSA account online.

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