Corporate tax cut: Rich will benefit, poor left to fend for themselves

Agencies
September 21, 2019

New Delhi, Sept 21: Senior Congress leader Kapil Sibal on Saturday attacked the government over its move to cut corporate tax, alleging that the rich will benefit while the poor left to fend for themselves.

The government on Friday slashed corporate tax rates for companies by almost 10 percentage points to 25.17% and offered a lower rate to 17.01% for new manufacturing firms to boost economic growth rate from a six-year low by incentivising investments to help create jobs.

"Howdy Modi. Corporate Diwali. India foregoes 1.45 lakh cr. revenue. Need Diwali for needy folk!" Sibal said in a tweet.

"Extra money in corporate hands will not boost demand. Need extra money in hands of rural India to spur consumption. The rich will benefit. The poor left to fend for themselves," he said.

The Congress on Friday had termed the corporate tax cut a "panic reaction" by the government and linked it to the ''Howdy Modi'' event in Houston, with Rahul Gandhi saying he is amazed at what Narendra Modi can do for a "stock market bump" before the diaspora programme.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 11,2020

New Delhi, May 11: With an increase of 4,213 cases in the past 24 hours, India's COVID-19 count reached 67,152 on Monday, according to the Union Ministry of Health and Family Welfare.

The number of active cases in the country rose to 44,029, while 20,916 patients have been cured and discharged and one has migrated, according to the Ministry.

The number of deaths in the country due to the infection reached 2,206 on Sunday.

Maharashtra, with 22,171 confirmed cases is the worst-affected due to the infection so far and is followed by Gujarat with 8,194 cases.

However, Tamil Nadu surpassed the national capital in total coronavirus cases numbers. Delhi has 6,923 reported cases while Tamil Nadu has 7,204 confirmed cases.

Maximum deaths due to coronavirus have so far been recorded in Maharashtra (832), followed by Gujarat which has toll of 493.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
coastaldigest.com news network
July 27,2020

Ayodhya, Jul 27: With days to go for the August 5 "bhoomi pujan" ceremony of the Ram temple in Ayodhya, the mosques adjacent to the demolished Babri Masjid premises are spreading the message of a peaceful coexistence of Hindus and Muslims.

There are eight mosques and two mausoleums located close to the 70-acre Babri Masjid premises mandated by the Supreme Court for a temple of Sri Ram.

Azaan and namaaz are offered in the mosques and the annual "Urs" is held at the mausoleums without any objection from the local Hindus.

The eight mosques located near the upcoming Ram temple premises are Masjid Dorahikuan, Masjid Mali Mandir ke Bagal, Masjid Kaziyana Achchan ke Bagal, Masjid Imambara, Masjid Riyaz ke Bagal, Masjid Badar Paanjitola, Masjid Madaar Shah and Masjid Tehribazar Jogiyon ki.

The two mausoleums are Khanqaahe Muzaffariya and Imambara.

"It is the greatness of Ayodhya that the mosques surrounding the Ram temple are giving a strong message of communal harmony to the rest of the world," Haji Asad Ahmad, the corporator of the Ram Kot ward, said. The Ram temple area is situated in Ahmad's ward.

"Muslims take out the 'juloos' of Barawafaat that goes through the periphery of Ram Janmabhoomi. All religious functions and rituals of Muslims are respected by their fellow citizens," the corporator said.

Asked for a comment on the presence of mosques near the upcoming Ram temple premises, the chief priest of the temple, Acharya Satyendra Das, said, "We had a dispute only with the structure that was connected to the name of (Mughal emperor) Babur. We have never had any issue with the other mosques and mausoleums in Ayodhya. This is a town where Hindus and Muslims live in peace."

"Muslims offer namaaz, we perform our puja. The mosques around us will strengthen Ayodhya's communal harmony and peace will prevail," he added.

Both Hindus and Muslims have accepted the Supreme Court verdict over Ram Janmabhoomi, Das said, adding, "We have no dispute with each other."

Sayyad Akhlaq Ahmad Latifi, the "sajjada nasheen" and "pir" of the 500-year-old Khanqaahe Muzaffariya mausoleum, said Muslims in Ayodhya are performing all religious practices freely.

"We offer prayers five times a day in the mosque at Khanqaah and hold the yearly 'Urs'," he added.

"What a scene would it be -- a grand Ram temple surrounded by small mosques and mausoleums and everyone offering prayers according to their beliefs. That will be representative of the true culture of India," Mahant Yugal Kishore Sharan Shastri, the chief priest of the Sarayu Kunj temple adjacent to the Ram Janmabhoomi premises, said.

Reacting to the presence of mosques and mausoleums near the Ram Janmabhoomi premises, Triloki Nath Pandey, the decree holder of the land as the "first friend of Ram Lalla" as mandated by the Supreme Court, said, "We do not have any objection to either those mosques or any other mosques. We will not trigger a dispute regarding any structure, Ayodhya must live in peace and communal harmony."

Mahant Raju Das, the priest of the Hanumangarhi temple, said, "The presence of the mosques tells the story of Ayodhya's communal harmony. A Ram mandir will be built and there will be no objection to the mosques or religious practices of Muslims."

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 4,2020

New Delhi, Mar 4: The Supreme Court on Wednesday revoked the ban of cryptocurrency imposed by the Reserve Bank of India (RBI) in 2018.

Pronouncing the verdict, the three-judge bench of the apex court said the ban was 'disproportionate'.

The bench included Justice Rohinton Fali Nariman, Justice S Ravindra Bhat and Justice V Ramasubramanian.

The Internet and Mobile Association of India (IAMAI), whose members include cryptocurrency exchanges, and others had approached the top court objecting to a 2018 RBI circular directing regulated entities to not deal with cryptocurrencies.

Advocate Ashim Sood, appearing for IAMI, submitted that Reserve Bank of India lacked jurisdiction to forbid dealings in cryptocurrencies. The blanket ban was based on an erroneous understanding that it was impossible to regulate cryptocurrencies, Sood submitted.

The petitioners had argued that the RBI's circular taking cryptocurrencies out of the banking channels would deplete the ability of law enforcement agencies to regulate illegal activities in the industry.

IAMAI had claimed the move of RBI had effectively banned legitimate business activity via the virtual currencies (VCs).

The RBI on April 6, 2018, had issued the circular that barred RBI-regulated entities from "providing any service in relation to virtual currencies, including those of transfer or receipt of money in accounts relating to the purchase or sale of virtual currencies".

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.