Latest news with #Congress
Mint
30 minutes ago
- Politics
- Mint
‘No one becomes great by imposing themselves': Nitin Gadkari flags arrogance in leadership, Congress reacts
Union Minister for Transport and Highways, Nitin Gadkari—known has cautioned that people who gain power, wealth, knowledge, or beauty often become arrogant. The Bhartiya Janata Party (BJP) leader's remarks have once again provided the opposition a chance to speculate a reference to party leadership, with Congress pointing at Prime Minister Narendra Modi turning 75 this September. Addressing a gathering of principals and educators in Nagpur on Saturday, Gadkari observed that once individuals start believing they are the smartest, their assertiveness can turn into dominance over others. "But no one becomes great by imposing themselves," the Nagpur MP was quoted as saying by Hindustan Times. 'Look at history—those accepted by their people never had to force themselves upon anyone,' he said. BJP adversaries saw Gadkari's remarks as reference to BJP Maharashtra minister Nitin Raut was quoted by Hindustan Times as saying, 'his statement was an obvious reference to top BJP leadership who have lately become very egoistic and self-centred.' Congress leader Pawan Khera also reacted. 'Too many people gearing up to celebrate Saheb's 75th birthday,' the Congress spokesperson said. Khera was perhaps referring to Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat's suggestion that leaders should retire after 75. Bhagwat's remark has again prompted opposition politicians to question its implications for Prime Minister Narendra Modi, who turns 75 this September. Bhagwat also turns 75 this year. 'When you turn 75, it means you should stop now and make way for others,' Bhagwat said, speaking at a book release event dedicated to late RSS ideologue Moropant Pingle in Nagpur on July 9, according to Hindustan Times. Speaking at the event on Satuday, Gadkari spoke about the 'ego trap' among leaders. 'I am the smartest one. I've become a 'Sahab'... I don't even count others,' he quipped, warning that such arrogance undermines true leadership. He also emphasised the essence of teamwork and said that the strength of any organisation in politics, social work, or corporate life was rooted in human relationships. "How you treat your subordinates matters. Respect shouldn't be demanded—it should be earned. If you deserve it, you'll get it," Gadkari said. In December last,Gadkari had said he does not aspire to become the prime minister of India. Gadkari, in the interview with the London-based weekly,The Economist, said that no one in the saffron party would ask him to take the top job in the future. In September, Gadkari alleged that an opposition leader offered to make him prime minister if he defected before the election. When asked if he wants the top job one day, Gadkari said, 'I am here, happy. I am doing my work. I do not have any aspiration or ambition to become prime minister.' No one becomes great by imposing themselves. 'No one is going to ask me, so no question arises,' Gadkari responds to a question about whether the BJP will ask him to be the prime minister.
Time of India
35 minutes ago
- Automotive
- Time of India
New tax break for auto loans could save some buyers thousands of dollars. But will it boost sales?
Millions of people receive a federal tax deduction for the interest they pay on home loans. Under President Donald Trump's new tax-cut law, many people for the first time also could claim a tax deduction for interest on their vehicle loans. The new tax break will be available even to people who don't itemize deductions. But there are some caveats that could limit its reach. The vehicles must be new, not used. They must be assembled in the U.S. And the loans must be issued no sooner than this year, to list just a few qualifications. Here are some things to know about the new auto loan interest tax deduction: Candidate Trump promised an auto loan interest tax break Trump pledged while campaigning last year to make interest on car loans tax-deductible. He said it would make car ownership more affordable and "stimulate massive domestic auto production." The idea made it into the big tax-cut bill passed by Congress, which Trump signed into law July 4. The law allows taxpayers to deduct up to $10,000 of interest payments annually on loans for new American-made vehicles from 2025 through 2028. It applies to cars, motorcycles, sport utility vehicles, minivans, vans and pickup trucks weighing less than 14,000 pounds, a threshold referred to as light vehicles. But it only applies to vehicles purchased for personal use, not for fleets or commercial purposes. The tax break can be claimed starting on 2025 income tax returns. But the deduction phases out for individuals with incomes between $100,000 and $150,000 or joint taxpayers with incomes between $200,000 and $250,000. Those earning more cannot claim the tax break. Millions of buyers could benefit, but millions of others will not U.S. automobile dealers sold 15.9 million new light vehicles last year, a little over half of which were assembled in the U.S, according to Cox Automotive. It says around 60 per cent of retail sales are financed with loans. After excluding fleet and commercial vehicles and customers above the income cutoff, an estimated 3.5 million new vehicle loans could be eligible for the tax break this year, if purchasing patterns stay the same, said Jonathan Smoke, chief economist at Cox Automotive. It's the assembly plant, not the automaker's headquarters that matters The tax break applies to vehicles assembled in the U.S., no matter where the company making them is headquartered. All Tesla vehicles sold in the U.S. are assembled in this country. But so are all Acura brands, the luxury model of Japanese automaker Honda. Last year, 78 per cent of Ford vehicles sold in the U.S. were assembled in this country, according to Cox Automotive. But customers wanting the tax break will need to pay attention to specific models. While the Ford Mustang is assembled in Michigan, the Mustang Mach-E is built in Mexico. General Motors assembles all of its Cadillacs in the U.S. But just 44 per cent of its Chevrolets sold last year were assembled in the U.S., and just 14 per cent of Buicks, according to Cox Automotive. That's a lower U.S-assembled rate than Honda (60 per cent ), Toyota (52 per cent ) and Nissan (48 per cent ), which all are headquartered in Japan. Taxpayers could save hundreds of dollars a year The average new vehicle loan is about $44,000 financed over six years. Interest rates vary by customer, so the savings will, too. In general, the tax deduction will decline after the initial year, because interest payments on loans are frontloaded while principal payments grow on the back end. At a 9.3 per cent interest rate, an average new vehicle buyer could save about $2,200 on taxes over four years, Smoke said. The tax savings would be less on a loan at 6.5 per cent , which is the rate figured into calculations by the American Financial Services Association, a consumer credit industry trade group. Some people also could see a reduction in state income taxes Whereas the tax deduction for home loan interest can be claimed only by people itemizing on their tax returns, Congress wrote the deduction for auto loan interest so that it can apply to all taxpayers, including those claiming the standard deduction. On a tax form, the auto loan deduction will come before the calculation of a taxpayer's adjusted gross income. That's an important distinction, because many states use a taxpayer's federal adjusted gross income as the starting point for figuring their state income taxes. If that income figure is lower, it could reduce the state taxes owed. The verdict is out on whether the tax break will boost sales At Bowen Scarff Ford in Kent, Washington, customers started asking about the auto loan tax deduction before Congress had even taken a final vote on the tax-cut bill, said General Manager Paul Ray. So he decided to promote it on the dealer's website. A website ribbon exclaims: "CAR LOAN TAX DEDUCTION NOW AVAILABLE" while also promoting an electric vehicle tax credit that is ending soon as a result of Trump's tax-cut law. "I think it's going to help incentivize vehicle purchases through this year," Ray said. Celia Winslow, president and CEO of the American Financial Services Association, concurred: "For some people deciding - should I buy it, should I not - this could be something that tips the scale." Others remain skeptical. According to Smoke's math, the average annual tax savings is smaller than a single month's loan payment for a new vehicle. "I don't think it moves the needle on somebody on the fence of buying a new vehicle or not," Smoke said. "But I think it could influence their decision to finance that vehicle instead of paying cash or instead of leasing a vehicle."
South China Morning Post
43 minutes ago
- Politics
- South China Morning Post
Trump-Musk feud: Chinese saying sheds light on who might prevail
Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@ or filling in this Google form . Submissions should not exceed 400 words, and must include your full name and address, plus a phone number for verification Recently, the world's eyes have been on US President Donald Trump's One Big Beautiful Bill , which he signed into law after it was narrowly passed by a vote of 218 to 214 in the US House of Representatives. The new law is not that beautiful, though, as the Congressional Budget Office estimates it will add US$3.3 trillion to the country's debt during the next 10 years and also result in millions of Americans losing health insurance coverage. It is doubtful that this bill becoming law will help move Trump's approval ratings with an eye on the midterm elections. The bill also turned the spotlight on the fight between Trump and Tesla CEO Elon Musk. The honeymoon period between them is clearly over, and the next episode in their relationship is proving to be entertaining. The passage of the bill threatens Musk's businesses and, by extension, his personal wealth. As Musk stepped up his attacks on the bill, Trump indicated that he might expel him from the United States. However, Musk is not showing any signs of vulnerability and has hit back, launching a new political party It is hard to predict the outcome of the fight of the century between these two very powerful people. But, in accordance with the Chinese saying, 'The poor should not fight with the rich; the rich should not fight with officials', it seems that Trump should have the upper hand.
Time of India
an hour ago
- Politics
- Time of India
Boycott quota ordinance opponents, says Telangana CM Revanth Reddy to BCs
HYDERABAD: In a politically charged statement, chief minister A Revanth Reddy Saturday urged Backward Classes (BC) leaders to socially boycott individuals who challenge the Congress govt's proposed ordinance providing 42% reservations for BCs in local bodies. Revanth also said the community must stand united to defend what he called a long-overdue and historic measure. Meeting a delegation of BC association leaders led by National BC Welfare Association president Jajula Srinivas Goud, Revanth said: "If anyone goes to court or sends someone to challenge the ordinance, the BC community should announce their social boycott. The BC community must make this clear." You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad Revanth assured that the Congress govt would hire top lawyers from Delhi to defend the ordinance in court and called on BC leaders to act as a shield for the govt. CM slams BRS for ignoring BC community The delegation, including BC leaders from various political backgrounds, TPCC president B Mahesh Kumar Goud and a couple of ministers, met the CM at his residence and thanked him for the state cabinet's decision to go ahead with the ordinance. Revanth accused former BC ministers in the K Chandrasekhar Rao cabinet, including Gangula Kamalakar, V Srinivas Goud, and Talasani Srinivas Yadav, of opposing the same BC quota they once ignored. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Providers are furious: Internet access without a subscription! Techno Mag Learn More Undo 'When the BRS govt passed the Panchayat Raj Act in 2018 capping total reservations at 50%, these very BC leaders were ministers. Now, at KCR's behest, they are opposing our move to increase BC quota. What more can I do? I'll call a cabinet meeting even at midnight for BC welfare,' he announced. Revanth also launched a scathing attack on BJP leaders accusing them of lacking sincerity on BC welfare. The CM reminded that the local body elections were postponed to accommodate the 42% quota and that the high court has given a one-month deadline to finalise reservations. He said a presentation would soon be made to Congress and INDIA bloc MPs on the issue.
The Hindu
an hour ago
- Politics
- The Hindu
CPP leader Sonia Gandhi calls meeting on July 15 to finalise Congress strategy for Monsoon session of Parliament
Congress parliamentary party leader Sonia Gandhi will chair a key meeting on Tuesday (July 15, 2025) to finalise the party's strategy for the upcoming Monsoon session of Parliament which is expected to witness confrontations between the opposition and the government on a host of issues. Opposition parties are expected to raise strong concerns over the Election Commission's move to carry out a Special Intensive Revision of electoral rolls in Bihar. Also, the Congress has been demanding a discussion on the Pahalgam attack, Operation Sindoor as well as the diplomatic outreach following that. The Congress' parliamentary strategy group meeting is expected to be attended by Congress president Mallikarjun Kharge and Leader of the Opposition in the Lok Sabha Rahul Gandhi, among others. It will be chaired by Sonia Gandhi at her 10, Janpath residence, party sources said. The government has announced that the Monsoon session of Parliament will begin on July 21 and continue till August 21, a week longer than planned earlier, signalling a heavy legislative agenda. Earlier, the session was to conclude on August 12, but now it has been extended by a week. The longer duration of the session comes amid the government's plans to bring in key legislations, including one to facilitate the entry of the private sector in the atomic energy domain. The government is planning to amend the Civil Liability for Nuclear Damage Act and the Atomic Energy Act to implement the announcement in the Union Budget to open up the nuclear sector for private players. The opposition has been demanding a debate on Operation Sindoor -- the strike on terror sites in Pakistan by the Indian armed forces in response to the terrorist attack in Pahalgam on April 22. The opposition parties have also been demanding answers from the government on U.S. President Donald Trump's claims of mediation in the India-Pakistan conflict to avert a nuclear war. The government has rejected Mr. Trump's claims with Prime Minister Narendra Modi telling him, during a phone call last month, that India has never accepted mediation and would not ever accept it in future.
