Connect with us

India

Demonetization effect, 81.50 lakh people unemployed in Bengal: Mamata

Published

on

mamata Banerjee

Jan 6: West Bengal Chief Minister Mamata Banerjee on Friday informed that the State has suffered a revenue loss of Rs 5500 crore and almost 81.50 lakh people have become unemployed due to demonetization.

“In the last two months since demonetization was announced we (State government) have suffered a revenue loss of Rs.5500 crore. While more than 1.7 crore people have been adversely affected due to note bandi (demonetization) 81.50 lakh people have become unemployed in Bengal,” said Banerjee.

People lost their jobs majorly in tea, jute, bidi and jewellery sector, Mamata informed. The figures came up in a survey conducted by State government.

The Chief Minister further argued that since the agricultural sector has been hit hard due to the ongoing cash crunch farmers are unable to grow rabi crops (winter crops).

“This will result in price rise. When people do not have cash they (Centre) are trying to introduce a cashless economy,” said Banerjee.

She urged all the political parties to rise above “narrow differences” and form a national government for the greater interest of the country.

“I urge all the political parties to form a national government under a common minimum programme till the next general elections. I also appeal to the President to save the country from this crisis,” said Banerjee.

The Chief Minister also said that she has “no objection” even if the national government is led a by any senior leader of the BJP apart from Modi.

“It seems that there is no government. Democratic rights are being bulldozed (by the Centre). In the name of governance a reign of terror is going on in the country,” said Banerjee.

Wefornews Bureau

India

SC to hear disqualified AIADMK leaders’ plea for transfering case

Published

on

Supreme Court of India

New Delhi, June 25: The Supreme Court will on Wednesday hear a plea by 17 AIADMK MLAs of the Dinakaran faction seeking the transfer of the case challenging their disqualification to the apex court from the Madras High Court.

A vacation bench comprising Justice Arun Mishra and Justice Sanjay Kishan Kaul agreed to hear the plea after it was mentioned on Monday for an early hearing.

The lawyer for the MLAs said that they were seeking the transfer of the case as there has been an inordinate delay to decide against their disqualification and under the Representation of People Act, a vacant seat has to be filled up within six months of its occuring.

There was split verdict by the Madras High Court on their plea challenging their disqualification. Thereafter, the matter was referred to a third judge and is still pending.

IANS

Continue Reading

India

Looting tax payers’ money has become Modi government’s ‘Takiya Kalam’: Congress

Published

on

New Delhi, June 25: Congress on Monday revealed another bank scam amounting to Rs 7000 crore involving Faridabad -based SRS group under the Modi government. Also accused the Centre of jeopardizing 38 Crore LIC policyholders by forcing it to purchase the failing IDBI bank. 

Addressing media, Senior Congress Randeep Singh Surjewala said “Today we are presenting another bank scam worth Rs 7000 Crore. Criminal conspiracy and fraud by Faridabad-based company SRS Group, has resulted in 113 cases registered against them”.

“Whistleblowers have presented a list of 251 shell companies of SRS group were used for money laundering”.

Surjewala accused the Centre of not taking any action against the Faridabad based group.

“Despite complaints, no government agency, including Prime Minister Office, has taken action against this group”, he stated.

Why did the banks not refer the matter of huge default by SRS Group to CBI/ED/RBI or other agencies, despite all the loans became NPA by the end of FY 2015-16, Surjewala asked.

Taking a jibe at the Centre, he said Looting tax payers’ money has become Modi government’s ‘Takiya Kalam’.

Besides this, the Congress leader said that Central government is also jeopardizing 38 Crore LIC policyholders by forcing it to purchase the failing IDBI bank, despite it being worst performing public sector bank.

Banking scams under Modi government has now crossed Rs 70000 Crore. How will PM Modi recover this money from the fraudsters?, Congress leader poised a question.

WeForNews 

Continue Reading

India

With 90% tax on petrol & diesel, bringing them under GST impractical: NITI Aayog VC

Published

on

Rajiv Kumar

New Delhi, June 25: Petroleum is the taxation milch cow for the central and the state governments and it is unlikely to be brought under the Goods and Services Tax (GST) any time soon.

That’s also the view of the Vice Chairman of Niti Aayog, Rajiv Kumar. Several senior ministers have demanded that petroleum products — basically petrol and diesel — be brought under the new taxation regime.

But says Kumar: “It (oil) can’t be brought under GST. That’s because the total state and central taxes on petrol put together are around 90 per cent right now.”

He told IANS in an interview here: “I can’t see how any state will take a cut so huge as the highest rate under the GST is 28 per cent. A new GST band will have to be opened up — and that will be an enormous exercise.”

While supporting “in principle” the idea of bringing all items under the new indirect tax system, he said those talking about doing it now have not thought this through.

“The better way to do this is to first start reducing taxes (on petroleum products) as I have said many times in public. States impose ad-valorem tax on oil and so they all had a windfall gain (when prices rose). There is a need to rationalise it,” he said, adding “states should especially cut taxes.”

Kumar said that both the central and the state governments should start the process of weaning themselves away from their dependence on oil taxation.

According to him, the Central government collects Rs 2.5 lakh crore as tax on oil while almost Rs 2 lakh crore is collected by the states. “From where will they compensate it?” he asks adding that if the taxes are reduced gradually, the burden on the economy will get reduced.

“Higher oil prices are like a tax on the economy. If oil prices are brought down, economic activity will also improve,” Kumar said.

“Once that is achieved, once the revenues have gone up from other sources and the economy has picked up, then you can think of bringing oil under GST. It’s not that easy,” he added.

Ever since the new tax legislation was rolled out on July 1 last year, there had been talk of bringing it under the GST with top government officials and ministers supporting the need for such a move. The Opposition parties, of course, have been clamouring for it.

In December last year, Finance Minister Arun Jaitley had told the Rajya Sabha that the Central government was in favour of bringing petroleum products under the ambit of GST after building a consensus with states.

More recently, in April, when the international crude oil prices were going up sharply, pushing the domestic petrol prices to record levels, BJP President Amit Shah told a rally in Mumbai that efforts were on to bring petrol and diesel under the GST.

From Road Transport and Highways Minister Nitin Gadkari to Petroleum and Naural Gas Minister Dharmendra Pradhan, almost every senior BJP minister has favoured bringing petroleum products under the GST.

Among states, Maharashtra Chief Minister Devendra Fadnavis has also expressed willingness to bring petrol and diesel under GST in his state if a consensus was brought about on it.

Kumar says he was in favour of such a change, but it has to be thought through in practical terms.

“I am just simply saying that let’s not try to hurry it because you would only run into problems as there is a huge dependence on oil,” he said.

“Even electricity should be brought under GST. Everything should be under GST. But I am not sure whether it is worked out yet. Let’s agree to bring it under GST but over a period of time as is practical,” he said.

IANS

Continue Reading
Advertisement

Most Popular