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GST collections in December rose to Rs 86,703 cr, reverse earlier declines

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GST

[vc_row][vc_column][vc_column_text]Earlier in November last year the GST receipts decreased to Rs 80,008 crore, while the collections were more than Rs 83,000 crore in October.

In a major relief for the finance ministry, the Goods and Service Tax (GST) collections reversed the decline witnessed in the previous months, as the GST receipts in December 2017 rose to Rs 86,703 crore, as on January 24.

According to officials, the government is expecting better collections in the coming months as the measures to raise compliance have started being productive. Earlier in November last year the GST receipts decreased to Rs 80,008 crore, while the collections were more than Rs 83,000 crore in October and over Rs 92,000 crore in September.

An official of the government said, “There is a slight improvement seen in collections. The government expects collections to improve further after the introduction of the interstate e-way bill system from February 1.”[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_raw_html]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[/vc_raw_html][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]The collections in December rose despite the tax rate cuts on 178 goods from 28% and on restaurants to 5% in November. According to analysts, economic recovery in the previous months might also have helped the rise in GST receipts.

MS Mani, senior director of Deloitte India said, “The increase in GST collections for December compared to November is a welcome sign given that it was the first full month after the rate cuts on several products. It appears that GST collections have started entering the stabilisation phase and are now expected to improve in the coming months.”

However, even as the December collections showed better results than expected, the composition scheme under GST is seemingly not working, while the figures for the quarter July-September 2017 showed only Rs 335.86 crore collections.

Sharing a post on social networking platform Twitter, the Finance Ministry wrote, “For the composition dealers, for quarter July-September 2017, the last date of filing GSTR 4 Return was 24 December, 2017. A total of 8.10 lakh returns were filed by Composition Dealers paying a total of Rs. 335.86 crores as GST.”[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_raw_html]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[/vc_raw_html][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]On January 18, Finance Minister Arun Jaitley, following the latest GST council meeting asserted that the composition scheme was discussed at length in the meet since the collections were low.

“Out of the 17 lakh dealers who have registered themselves under the scheme at 1% rate, the collection for the first quarter has only been around Rs 307 crore. The scheme has not been enthusiastically responded to,” said Jaitley.[/vc_column_text][/vc_column][/vc_row]

India News

PM Modi takes aim at critics with Dimagi Naxal remark at SRCC centenary address

PM Modi revived his dimagi Naxal remark at SRCC’s centenary celebrations and spoke about India’s development journey.

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PM Modi

Prime Minister Narendra Modi revived his ‘dimagi Naxal’ remark while addressing the centenary celebrations of Shri Ram College of Commerce (SRCC) in Delhi on Saturday, using the term to criticise his opponents.

Speaking to students at the Delhi college, PM Modi described the phrase as a “homeopathic pill” and said it had prompted those he described as “dimagi Naxals” to come forward and reveal their views.

The prime minister also used his address to speak to Gen-Z about India’s development journey and asked students to consider the challenges the country had faced in the past.

PM Modi recalls past crises

During his speech, PM Modi referred to the 2013 Kedarnath disaster and the 2008 global financial crisis while criticising the handling of national emergencies by previous governments.

He said the government at the time of the Kedarnath disaster was shaken and questioned its ability to respond to the crisis.

Referring to the 2008 banking crisis, PM Modi alleged that the government of the time failed to effectively deal with the situation and claimed that India’s banking system was pushed close to collapse.

Prime minister lists challenges faced by his government

PM Modi also highlighted several major global crises that occurred during his government’s tenure.

He mentioned the COVID-19 pandemic, the Russia-Ukraine war, disruptions to global trade and supply chains, and the crisis in West Asia.

The prime minister said there had been concerns that India would struggle during these crises but argued that the country had continued to move forward.

PM Modi’s earlier SRCC visit

PM Modi had earlier visited SRCC in 2013, when he was the chief minister of Gujarat. His speech at the college received significant attention, particularly on social media, ahead of the 2014 Lok Sabha election.

His latest visit came during the college’s centenary celebrations, where his address focused on young people, India’s development ambitions and the challenges faced by the country.

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India News

India Metro Rail Network May Overtake US in 2 Years

India’s metro rail network has reached 1,170 km across 26 cities. Union minister Manohar Lal said the country could overtake the US in network length within two years.

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Manohar Lal Khattar

India is on track to become the country with the second-largest metro rail network in the world after China, with Union Minister Manohar Lal saying the country could overtake the United States within the next two years.

India’s metro rail network has now expanded to 1,170 km across 26 cities. The network is only 216 km shorter than the US metro rail network, which stands at 1,386 km, according to figures cited by the minister.

India’s metro network expands rapidly

Speaking after the inauguration of an extended metro service in Indore, Manohar Lal highlighted the pace at which metro connectivity has grown in India.

He said metro services were operational across just 245 km in five cities when Prime Minister Narendra Modi assumed office in 2014. The network has since expanded to 1,170 km across 26 cities.

The minister said India could overtake the US in terms of metro rail network length in the next two years and become the world’s second-largest country in this segment after China.

China currently has around 8,000 km of metro rail lines, according to the figures cited by the minister.

Indore metro extension inaugurated

The minister made the remarks after inaugurating an extended section of the Indore metro. The project was built at a cost of around Rs 2,850 crore.

The Indore metro was earlier operating commercially on a six-km stretch between Gandhi Nagar and Super Corridor-3 stations. Following the extension, the service will operate on a 17-km route between Gandhi Nagar and Malviya Nagar Chauraha.

Madhya Pradesh Chief Minister Mohan Yadav said the metro service would mark a new phase in Indore’s development. He also said the network would eventually be extended to Ujjain and other nearby areas.

India’s metro rail network: Key figures

  • India currently has 1,170 km of operational metro rail network.
  • Metro services are operational across 26 cities.
  • The US has around 1,386 km of metro rail network.
  • India is currently 216 km behind the US.
  • China has around 8,000 km of metro rail lines.
  • India’s operational network stood at 245 km across five cities in 2014.

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India News

PM Modi returns to SRCC after 13 years, revisits 2013 glass full speech

PM Narendra Modi returned to SRCC after 13 years for its centenary celebrations, revisiting themes from his landmark 2013 address.

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PM Narendra Modi

Prime Minister Narendra Modi returned to Delhi University’s Shri Ram College of Commerce (SRCC) on Saturday, 13 years after his previous visit to the institution as Gujarat chief minister. 

His latest visit came as SRCC marked its centenary celebrations. Modi’s 2013 address at the college had attracted significant attention as he spoke about India’s youth, governance and the country’s demographic potential.

In 2013, Modi was Gujarat chief minister and had not yet been named the BJP’s prime ministerial candidate. He returned to the same campus this year as Prime Minister, having completed 12 years as Prime Minister and serving his third consecutive term. 

What PM Modi said at SRCC in 2013

The 2013 lecture was titled Emerging Business Models in the Global Scenario. The address also covered governance and India’s young population.

He described India’s youth as a source of national strength rather than simply a group of new-age voters. He also highlighted India’s demographic advantage and argued that the country needed to make better use of its young population.

One of the notable moments from the speech involved a glass of water.  Modi contrasted the conventional descriptions of a glass as half full or half empty and said he viewed it as full, with half containing water and the other half air.

The speech also included his remarks on technology and young Indians. Referring to an anecdote from a visit to Taiwan, Modi used the phrase “mouse-charmers” to describe Indians using computers and suggested that young Indians had the ability to influence the world through technology.

‘Minimum government, maximum governance’

Modi’s 2013 address also touched on governance. He spoke about the role of government and the need for better governance.

He also spoke about India’s potential in the 21st century. 

Modi returns as PM for SRCC centenary

The September 5 visit coincided with Teachers’ Day and SRCC’s 100th anniversary. The Prime Minister’s Office had announced that Modi would participate in the college’s centenary celebrations and address the gathering. SRCC was established in 1926 by industrialist and philanthropist Sir Shri Ram.

Earlier this year, Modi also met the SRCC governing body at his residence in April in connection with the college’s centenary celebrations and released a commemorative postage stamp marking the occasion. 

The return to SRCC came 13 years after his 2013 appearance at the college, when he addressed students as Gujarat chief minister.

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