Latest news with #Rs196
Time of India
19-05-2025
- Business
- Time of India
Rs196cr sanctioned, still repairs of river retaining walls, drains delayed
Nagpur: In the wake of the devastating Ambazari Lake overflow on Sept 23, 2023, the state govt had sanctioned Rs196 crore for flood mitigation measures in the city. Still, key repair works of river retaining walls and drains remain incomplete as the monsoon nears. During a high-level meeting chaired by Union minister Nitin Gadkari on Monday, concerns were raised over the snail-paced progress and alleged negligence by civic contractors. It emerged that several large contractors — who secured major tenders for restoring storm-hit rivers, nullahs, and access roads — subcontracted the work to smaller agencies with limited manpower and machinery. This outsourcing significantly slowed down work, and with only weeks before the rains, major portions of the city remain vulnerable to floods. The Nagpur Municipal Corporation (NMC) issued 97 work orders across its 10 zones for the repair of riverbank retaining walls, including Nag and Pora rivers, and adjoining road infrastructure. Of the total Rs196.97 crore sanctioned, Rs73.09 crore was earmarked for drain-related work and Rs20 crore for road repairs. To date, bills worth Rs93.09 crore were submitted to the Chief Accounts and Finance Officer, while the state disbursed Rs86.66 crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cost Of Amusement Park Equipment From Mexico Might Surprise You - See Tips Amusement Park Equipment | search ads Click Here Undo However, payments totaling Rs6.46 crore remain pending with the accounts department. On-site inspections across multiple zones revealed construction debris still clogging nullahs and riverbeds, restricting the flow of water. Engineers at the zonal level reportedly failed to enforce deadlines, and no action was taken against agencies delaying critical flood defense work. This year's forecast for an above normal and early monsoon is adding to the citizens' concern. NMC's top engineering officials are now scrambling to assess the progress. A review meeting with all zonal executive engineers to evaluate the situation and address the backlog has been called on Tuesday. Yet, the civic administration's laxity in executing post-flood repairs raises red flags. If swift action isn't taken, Nagpur could face another flood disaster — this time not due to natural causes, but because of poor governance and accountability failure.
Express Tribune
18-05-2025
- Business
- Express Tribune
New tax law
Listen to article The government has formalised some of its tax reforms by passing the Income Tax (Amendment) Bill, 2024, which is basically identical to the recent ordinance which was derided by the opposition and industry groups. The bill, like the ordinance, aims to tackle the complexities faced by taxpayers, especially regarding higher tax rates imposed on income derived from federal government securities. It also prohibits non-filers from most banking activities including opening accounts; bars immovable property transfers by non-filers; restricts non-filers from buying any vehicle, except for tractors, with an engine over 800cc; and most controversially, grants FBR officials the authority to freeze non-filers' bank accounts and seize their properties. The property seizure clause has drawn ire, especially because critics say it could allow FBR officials to punish people for failing to file returns even if they don't actually owe taxes. It also hammers home the government's lack of interest in cultivating a culture of compliance rather than one of fear. Even in the case of the other new restrictions, questions over transparency are at the forefront. The anger of industry groups, though somewhat misplaced, is still a reflection of the fact that the government is struggling to maintain public trust. Indeed, if it is to silence its critics, the government will have to ensure careful implementation and monitoring that strikes a balance between effective enforcement and fair treatment of citizens. Other objectives of the amendment include rationalising the tax structure concerning business income, particularly for banking companies. By addressing these pressing issues, the government is taking a necessary step toward creating a more equitable tax framework that encourages compliance while still generating much-needed revenue for public expenditure. With a reported shortfall of Rs196 billion in tax collection during the first four months of the fiscal year, the need for effective revenue generation mechanisms has never been more apparent.
