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Former Union minister P Chidambaram stated on Sunday that the facts of the central government’s fuel price tax reduction are “contrary” to what he had previously said. On Saturday, Union Finance Minister Nirmala Sitharaman announced an excise duty drop of Rs 8 per litre on petrol and Rs 6 per litre on diesel to bring down surging fuel prices caused by a rise in international crude oil prices due to Russia’s war in Ukraine. “The notification on reduction of duty on Petrol and Diesel is now available. FM used the words ‘Excise Duty’, but the reduction is in Additional Excise Duty which is not shared with the states. Hence, contrary to what I said yesterday, the entire burden of the reduction falls on the Centre. To that extent, I stand corrected,” Chidambaram said. The states are getting very little by way of share of duties on petrol and diesel, he said, noting that their revenue is from VAT on petrol and diesel. “I wonder if they can afford to give up that revenue unless the Centre … [Read more...] about ‘I Stand Corrected’: Chidambaram ‘Takes Back’ Critique; K’taka ‘to Consider’ Further Cut | Reactions

AFP Washington, United States   ● Sun, May 22, 2022 2022-05-22 16:57 0 e16ff64e7ecc29b41741491223119149 2 Asia and Pacific Joe-Biden,US,Quad,White-House,Anthony-Albanese,Japan,summit Free US President Joe Biden on Sunday called Australia's incoming prime minister Anthony Albanese to congratulate him on his election victory and underline the strength of their countries' alliance, the White House said. The two leaders will meet Tuesday at the Quad group summit in Tokyo and the White House has praised Albanese for deciding to make the trip. "President Biden reaffirmed the United States' steadfast commitment to the US-Australia alliance and his intent to work closely with the new government to make it stronger still," it said in a statement. "President Biden expressed deep appreciation for the prime minister-designate's own early commitment to the alliance, reflected in his decision to travel almost immediately to Tokyo to attend the Quad Summit." … [Read more...] about Biden congratulates Australian PM-elect Albanese: White House

Maharashtra Congress chief Nana Patole’s renewed verbal assault against his Maha Vikas Aghadi (MVA) coalition allies, the Nationalist Congress Party (NCP) and the Shiv Sena, has put a question mark on the three parties contesting the critical Maharashtra civic polls together. Mr. Patole stirred the pot of controversy soon after the Congress’s Chintan Shivir at Udaipur where, by his own admission, he submitted a litany of complaints to the party high command pertaining to the NCP’s consistent ‘betrayal’ of the Congress and its alleged efforts to undermine the party in Maharashtra. The Maharashtra Pradesh Congress Chief (MPCC) chief then sternly rebuked Chief Minister Uddhav Thackeray’s Shiv Sena for drawing up the three-ward system for the upcoming civic polls without allegedly consulting the Congress. Without directly naming either party, Mr. Patole censured the ‘opportunism’ of both the Sena and the Sharad Pawar-led NCP by hinting that the three-ward arrangement was … [Read more...] about Analysis | Maharashtra Cong. chief Patole’s jibes at allies put question mark over MVA alliance ahead of civic polls

Investors should follow a 3-step process before making the pick Should I invest in this this covered bond? Should I go for the small cap AIF that my relationship manager suggested? How about this secured bond sold on a new platform that delivers 11%? When confronted with these questions on newer products that float in the market, our question to our investors is — how many investment products do you really need? If you’re expecting that I put a number to this, saying 3, 5 or 10 products, that’s not what I am suggesting. It is simply knowing whether you need a particular product for your specific situation and your time frame of investing. This can be done in three steps. The three steps The first is to decide whether you need regular income from your investment or you need your money to grow, or if you simply want to preserve your capital. Second, if you fix some time frame for each of your requirements, it will further help filter products. For example, you could decide … [Read more...] about How to choose an investment product

The Election Commission of India on Friday announced the dates for the upcoming Bihar Assembly elections. The election will be held in three phases — Oct. 28, Nov 3 and 7 — while the counting of votes will be on November 10. The term of the 243-member Bihar legislative assembly ends on November 29. For the first time, the Commission is extending postal ballot facility to people aged over 85 years, as well as to COVID-19 suspects and patients. Here are the live updates: 1.14 pm Phase 3 Issue of Notifications October 13 Last Date of making nominations October 20 Scrutiny of nominations October 21 Last date for withdrawal of candidatures October 23 Date of Poll November 7 Counting of Votes November 10 1.13 pm Phase 2 Issue of Notifications October 9 Last Date of making nominations October 16 Scrutiny of nominations October 17 Last date for withdrawal of candidatures October 19 Date of Poll November 3 … [Read more...] about Bihar elections in three-phases from October 28; counting on Nov.10

On the last day of poll campaign, Bihar Chief Minister Nitish Kumar announced that this was going to be his last election and “all is well that ends well”. “ Parso chunav hai aur y eh mera aakhiri chunav hai…aur ant bhala to sab bhala (the poll is day after tomorrow and it is my last election…all is well that ends well)”, said Chief Minister and JD(U) president Nitish Kumar while addressing a public meeting at Dhamdaha in Purnia district of northeast Bihar. Also read: Bihar Assembly elections | Nitish Kumar hits out at Yogi Adityanath over CAA remark Mr. Kumar, 69, is facing huge anti-incumbency in the polls as he seeks the fourth consecutive term as Chief Minister. RJD takes a dig RJD leader Mrityunjay Tiwari said, “Our leader Tejashwi Yadav has been saying for long that farewell for Nitish Kumar is guaranteed on November 10.” “ Yeh to aise bhi unka last chunav hi tha [Even otherwise, it was his last election],” Mr. Tiwari said. Also read: Bihar Assembly … [Read more...] about Bihar Assembly Elections | This is my last election: CM Nitish Kumar

A day after taking oath as Bihar Chief Minister, Nitish Kumar on Tuesday allocated portfolios among the 14 Ministers, while keeping Home and General administration to himself. His two deputies in the Cabinet, Tarkishore Prasad and Renu Devi, were given charge of departments such as Finance, Forest & Environment, Backward Caste and EBC welfare along with Industry and Panchayati Raj. Also read: Congress panel meets to discuss Bihar election result However, a controversial induction into the Cabinet was that of two-time JD(U) MLA from Tarapur in Munger district Mewalal Choudhury. In 2017, he was accused in a recruitment scam of assistant professors and junior scientists. Mr. Choudhury, who has been given charge of Education, was the Vice Chancellor of the Sabour Agriculture University from 2010-15. An FIR was lodged against him by the Special Vigilance department at the Sabour Police Station in Bhagalpur under sections 409, 420, 467, 468, 471 and 120(B) of the IPC in … [Read more...] about Nitish Kumar allocates portfolios; keeps Home, Administration

Equity benchmarks made a sharp recovery on Friday after a heavy decline in the previous trade, with the Sensex jumping 907 points in early trade, tracking positive trends from Asian markets. Also, jump in index major Reliance Industries helped the benchmarks bounce back. The 30-share BSE benchmark Sensex rallied 906.98 points to 53,699.21. The broader NSE Nifty jumped 308 points to 16,117.40. "Indices are set to trade with firm gains amid positive signals from its Asian peers," said Mohit Nigam, Head - PMS, Hem Securities. All the Sensex firms were trading in the green in early trade, with Tata Steel, Dr Reddy's, IndusInd Bank, State Bank of India, Nestle, Hindustan Unilever, Sun Pharma and Reliance Industries emerging as the biggest gainers. The BSE benchmark dived 1,416.30 points or 2.61% to settle at 52,792.23 on Thursday. The NSE Nifty tanked 430.90 points or 2.65% to end at 15,809.40. Meanwhile, Asian markets in Hong Kong, Shanghai and Tokyo were trading in the green. … [Read more...] about Markets rebound after heavy decline in previous trade; Sensex jumps 907 points

Boris Johnson believes helping struggling families to pay their bills would be "shovelling" money to appease "bleeding hearts," it has been reported. The Prime Minister is under mounting pressure to raise a windfall tax on energy firms to help ease skyrocketing bills. But it's said the PM believes spending the proceeds of such a tax on immediate relief for families would be a short-term fix, and the cash would be “here today and gone tomorrow.” It was revealed last year that Boris Johnson had spent £112,549 refurbishing the luxury flat he shares with wife Carrie and their children above Downing Street. He was also reported to have blown £50 a pop on organic ready meals prepared by the head chef of an upmarket deli, and has occasionally engaged the services of a £165-an-hour personal trainer. And in 2009, shortly after the last global financial crisis, he dismissed the £250,000 a year he earned as a newspaper columnist as "chickenfeed". ( Image: POOL/AFP via Getty … [Read more...] about Boris Johnson believes help for families would ‘shovel cash to appease bleeding hearts’

Ministers will on Tuesday unveil plans for a new law to override parts of the post-Brexit deal on Northern Ireland in a bid to revive power-sharing. After emergency talks, Boris Johnson said the legislation was needed as "insurance" in case talks with the European Union fail. But the move would effectively tear up the Northern Ireland protocol - agreed by the Prime Minister in 2019 - which sets trading rules on goods moving from Britain to Northern Ireland. Northern Ireland's institutions have been plunged into crisis with the DUP refusing to re-enter a devolved government in protest at the 'Irish Sea border' in the protocol. But EU leaders have warned Mr Johnson against trying to rewrite the treaty unilaterally - suggesting it could result in a damaging trade war with the bloc. Mr Johnson told reporters: "We would love this to be done in a consensual way with our friends and partners, ironing out the problems, stopping some of these barriers East-West. "But to get that … [Read more...] about Boris Johnson to ‘proceed’ with law axing parts of Brexit deal with statement tomorrow