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Time of India
6 days ago
- Politics
- Time of India
Haryana explores GYL canal project with UP
1 2 3 Chandigarh: In a step towards futuristic water resource planning for the National Capital Region (NCR), the Haryana government is exploring the possibility of utilising Ganga river water by constructing the Ganga Yamuna Link (GYL) canal. The proposed canal aims to meet the region's growing needs for drinking water and irrigation. If all goes according to plan, the state government targets completion of the project by Nov 2031. According to sources in the chief minister's office (CMO), during preliminary discussions, the Uttar Pradesh govt informally agreed and suggested five options to Haryana. These include channels near Hindon Barrier in Khatauli, Badruddin Nagar, Muradnagar, and Yamunanagar to bring the water flow of Ganga river to mix with the Yamuna. The committee led by the engineer-in-chief (EIC) will submit its report to the Haryana govt within a month, after which chief minister Nayab Singh Saini will advance discussions with the central and Uttar Pradesh govts on the possibilities of creating the canal. Notably, the proposal has roots in planning from the announcements made by the then chief minister Manohar Lal Khattar in 2002. The real trigger came after the state clashed with Punjab over the water share from Bhakhra Dam in April and May this year. Additionally, Punjab's refusal to complete the SYL canal, despite the matter being decided in favour of Haryana, is also said to be a reason forcing Haryana to explore new possibilities for water resources. Haryana is a riparian state, and 80% of irrigation is done through canal and tubewell waters. According to information, a high-level meeting chaired by CM Saini last week directed the intensification of efforts to bring Ganges water to Haryana by laying a link canal connecting the Ganga with Yamuna. Taking the move ahead, the irrigation and water resources minister, Shruti Choudhary, has constituted a committee headed by EIC Birender Singh to prepare a complete proposal and detailed project report so that the matter could be initiated with the UP govt. "The govt is serious about this project. It's not just this one; the govt has advanced efforts for tapping rainwater ahead of Hathni Kund barrage by building a dam. Additionally, work for Keshau Dam is also in progress," a senior official said. Meanwhile, amidst the stand taken by Punjab of not having sufficient water, another round of chief ministers' level meeting between Punjab and Haryana on the issue of SYL is scheduled to be held in New Delhi on Wednesday. Interacting with media persons, Haryana CM Saini was hopeful of a positive response during the meeting from his Punjab counterpart, Bhagwant Maan.
Yahoo
09-04-2025
- Business
- Yahoo
Proud of Your Giant Tax Refund? Congrats, You Just Gave the Government an Interest-Free Loan
Keep this in mind when you celebrate that big tax refund this year: The money you're celebrating has always been yours. It might feel like a sudden windfall, but it's not. It's essentially an interest-free loan you gave the U.S. government through payroll tax deductions — you just didn't collect it until many months later, after you filed your tax return and Uncle Sam finally paid you back. Explore More: Read Next: GOBankingRates breaks down how this works and how you can adjust your finances to keep more of your money. Refunds are 'simply the government returning your own money — money that you overpaid, expecting no interest in return,' according to a blog from GYL, a California-based provider of accounting, audit, business advisory and tax services. Tax refunds might serve a useful purpose for some people, such as those who have a hard time saving money on their own. In this case, exchanging a bigger-than-necessary payroll tax deduction for a one-time refund might make sense. But for everyone else, that exchange amounts to lost financial opportunity, experts say. 'The IRS uses your overpaid taxes throughout the fiscal year, only to return them post-tax filing, without any financial benefit to you,' GYL noted. 'Commonly this interest-free loan to the government is inadvertently costing you money that could be generating interest or invested for potential gains.' Check Out: Pisenti & Brinker, another California-based financial advisory and consulting firm, offered a similar take in one of its blogs, suggesting that 'smart taxpayers understand that refunds actually cost them money.' 'Kept in your hands, those dollars could have been productive,' Pisenti & Brinker added. 'For example, you could have invested the money or used it to pay off your debt during the year. If the money had been added to a 401(k) plan, tax would have been deferred on both the investment and its earnings. Even better, your employer might have matched all or part of your investment, adding to your retirement savings.' If you'd rather keep more money for yourself each paycheck rather than loan it to the government, the best solution is to set up your payroll withholding so that you more or less break even during the tax year. This means that when you file your tax return, you won't owe a lot in taxes or qualify for a big refund. Ideally, the dollar amount on either side of the equation will be minimal. You can figure out the best amount to withhold by consulting with a tax advisor, financial professional or your employer's HR department. You can also use the IRS's tax withholding estimator. The right amount depends on a few different factors, including your household income, number of dependents and filing status. More From GOBankingRates 5 Luxury Cars That Will Have Massive Price Drops in Spring 2025 4 Things You Should Do if You Want To Retire Early 5 Cities You Need To Consider If You're Retiring in 2025 10 Cars That Outlast the Average Vehicle This article originally appeared on Proud of Your Giant Tax Refund? Congrats, You Just Gave the Government an Interest-Free Loan
