English हिन्दी
Connect with us

India News

GST Council fails to end deadlock on compensation to states

Union Finance Minister Nirmala Sitharaman said the Centre can certainly address the cess issue by borrowing under option 1-Rs.1.1 lakh crore through a special window facilitated by RBI and Ministry.

Published

on

The Goods and Services Tax (GST) Council meeting on Monday failed to arrive at a consensus between Opposition-ruled states and the Centre on a contentious issue of borrowings to meet shortfalls in cess collections.

Union Finance Minister Nirmala Sitharaman said the Centre can certainly address the cess issue by borrowing under option 1- Rs.1.1 lakh crore through a special window facilitated by RBI and Ministry. The Centre is ready to help the States who have decided to borrow to bridge the cess shortfall, the Minister said, while briefing the media late on Monday. 

Sitharaman further stated that if borrowing would be done by the Centre it will result in a surge of G-sec yields, and borrowing costs for states and the private sector. The borrowing falls under Article 293 of the constitution and it is the state’s right to decide what they want to do, she added.

GST Council meeting

This was the third meeting in a row that discussed compensation shortfall without a decision. However, 21 states have agreed to take the resolution while the other opposition ruled states termed the process as illegal.

Kerala Finance Minister Thomas Issac objected to the announcement of 21 states that will be allowed to choose Option 1 and termed it “illegal”. He tweeted that the Option 1 involves deferment of compensation payment beyond five years  for which the council decision is crucial as per Attorney General’s opinion. He claimed no such decisions have been made in the council meeting. The announcement in the press conference is a total disregard for democratic norms, he wrote.

Further, Punjab Finance Minister Manpreet Singh Badal said there was no agreement at the meeting to the demands of 10 opposition states for dispute resolution mechanism and formation of a Group of Ministers on the issue.

Read Also: Covid-19 vaccine expected in early 2021: Health Minister Harsh Vardhan

Stressing upon the differences, Sitharaman was reluctant to term the compensation issue as a dispute. She said the absence of unanimity doesn’t mean there will be dispute. The Centre is open to discussion and the states can talk, she added.

Meanwhile, as per the Centre’s proposal, the cess collections will be used to repay the interest and principal amount of the borrowing and the deferred compensation.

India News

Rahul Gandhi says BJP’s cronyism pushed banking sector into crisis, junior employees suffering

He encouraged other affected employees to share their stories through his official website.

Published

on

Rahul Gandhi, leader of the opposition in the Lok Sabha, criticized the BJP government on Saturday for what he called “cronyism and regulatory mismanagement,” claiming these policies have pushed India’s banking sector into crisis. He argued that junior employees bear the brunt of this mismanagement, facing “stress and toxic work conditions.”

Gandhi alleged that the government had waived off ₹16 lakh crore in loans for “billionaire friends,” while ordinary bank employees suffered the consequences. “The BJP’s economic policies have a human cost—thousands of honest professionals are paying the price,” he said.

In a post on social media platform X, Gandhi shared a video of his meeting with former ICICI Bank employees who accused the bank of unfair dismissals and workplace harassment. He promised that the Congress party would fight for their rights and work to end “exploitation in the banking sector.”

“Their accounts reveal a disturbing trend—retaliation for exposing bad loans, sudden terminations without proper procedure, and even tragic cases of suicide,” Gandhi said. He encouraged other affected employees to share their stories through his official website.

A delegation of 782 former ICICI Bank employees met Gandhi in Parliament on Friday, sharing claims of being fired while on medical leave or after raising concerns about management practices. According to the Congress, these employees said such practices are common in private banks due to extreme profit pressures.

The employees alleged that whistleblowers faced retaliation and that many were dismissed without following legal procedures. The Congress argued that these issues are not isolated but part of a wider problem in India’s banking industry.

ICICI Bank has not yet commented on the allegations. The Congress, meanwhile, has demanded action, calling for investigations into labor practices in private banks.

“If you have faced similar injustice, share your experience with me,” Gandhi said, directing affected individuals to his official portal. 

Continue Reading

India News

Air Force civil engineer shot dead at home in Prayagraj cantonment, police scan CCTV for suspect

Air Force civil engineer SN Mishra was fatally shot in his Prayagraj home. CCTV footage shows an unknown intruder entering the Air Force residential area.

Published

on

Prayagraj shooting

A shocking incident rocked the Indian Air Force Station in Prayagraj on Saturday, as civil engineer SN Mishra, 51, was shot dead at his official residence in the cantonment area. The assailant, whose identity remains unknown, allegedly fired a bullet through the window while Mishra was asleep, police officials confirmed.

The incident occurred in Engineers Colony inside the Air Force Station, under the jurisdiction of Puramufti Police Station. Mishra sustained a gunshot wound to the chest and was rushed to the Army hospital, where he later succumbed to his injuries.

CCTV footage shows security breach

According to Deputy Commissioner of Police (City) Abhishek Bharti, CCTV footage from the Air Force Station captured a person jumping over the boundary wall and entering the premises. Surveillance teams have visited the spot and are reviewing the footage for further leads.

Efforts to identify and arrest the suspect are underway, officials said.

Investigation underway

SHO Manoj Singh stated that the body has been sent for post-mortem, and that a formal FIR will be registered once the family lodges a complaint.

Mishra is survived by his wife, son, and daughter. The incident has triggered concerns about security lapses within the high-security Air Force residential zone, with investigators yet to determine whether the killing was personal or premeditated.

Further legal action will follow once more details emerge from the ongoing investigation.

Continue Reading

Cricket news

Jasprit Bumrah’s IPL 2025 return still uncertain, Mahela Jayawardene shares fresh update, Pandya eyes fresh start in Ahmedabad

Jasprit Bumrah’s return to IPL 2025 remains undecided as he recovers from injury. Hardik Pandya returns amid hopes fans have moved on from last season’s backlash.

Published

on

Jasprit Bumrah, Bumrah injury update, Mahela Jayawardene, Hardik Pandya,

Mumbai Indians head coach Mahela Jayawardene has offered a cautious but optimistic update on Jasprit Bumrah’s recovery, indicating the star pacer could rejoin the squad during the upcoming IPL 2025 season, although his exact return date remains undecided.

Bumrah is currently undergoing rehabilitation at the BCCI’s Centre of Excellence in Bengaluru after suffering a lower back injury during the final Test against Australia in Sydney. The injury ruled him out of the Champions Trophy and has kept him away from competitive cricket since.

Jayawardene stated that while “everything seems okay”, there’s still no confirmation from the National Cricket Academy (NCA) regarding a green signal for Bumrah’s return to active play. “He is progressing well,” said the MI coach, adding that the franchise hopes to have him back sometime in April.

Mumbai Indians manage without Bumrah… for now

In Bumrah’s absence, Trent Boult and Deepak Chahar have taken up pace responsibilities. Satyanarayana Raju was also handed his debut in MI’s opener against Chennai Super Kings, stepping in for Hardik Pandya, who was suspended for one match due to a slow over-rate offence from last season.

Will MI fans welcome Hardik Pandya back?

The 2025 IPL season also marks Hardik Pandya’s return to Ahmedabad, where he was first booed after his controversial switch from Gujarat Titans to Mumbai Indians and being named captain in place of Rohit Sharma. Pandya faced crowd hostility across venues last season as MI finished at the bottom of the table.

Jayawardene, however, believes the bitterness has faded. “It was just passionate fandom. Everyone’s moved on,” he said. With Pandya playing key roles in India’s T20 World Cup and Champions Trophy victories, the coach expects a warmer reception this time.

As Mumbai Indians prepare to face Gujarat Titans at the Narendra Modi Stadium, Jayawardene hopes the focus shifts from past drama to MI’s current campaign — especially as the team looks to overcome slow starts against high-performing sides like GT, who recently came close to pulling off the second-highest chase in IPL history against Punjab Kings.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com