Average data breach cost hits Rs 12.8 crore in India: IBM

The GST Council is unlikely to make major changes in the indirect tax structure at its next meeting slated mid June.

A top government source said that the Centre is not in favour of increasing tax rates on any goods or service as it could further impact consumption and demand that is already suppressed due the COVID-19 pandemic and lockdown.

It was widely expected that the GST Council could consider raising tax rates and cess on certain non-essential items to boost revenue for states and the Centre. Several states have reportedly taken an over 80-90 per cent hit in GST collections in April, the official data for which has not yet been released by the Centre.

"The need of the hour is to boost consumption and improve demand. By categorising items into essential and non-essential and then raising taxes on non-essential is not what Centre favours. But, the issue on rates and relief will be decided by the GST Council that is meeting next month," the finance ministry official source quoted above said.

The GST Council is chaired by the Union finance minister and thus the views of the Centre play out strongly in the council meetings.

However, the Council will also have to balance the expectations of the states whose revenues have nosedived after the coronavirus outbreak and wide scale disruption to businesses while they have still not been paid GST compensation since the December-January period.

To the question of wider scale job losses in the period of lockdown as businesses get widely impacted, the official said that the Finance Ministry has asked the labour ministry to collect data on job losses during Covid-19 and is constantly engaging with the ministry to oversee job losses and salary cuts.

On restrictions put on Chinese investment in India, the official clarified that no decision had yet been taken to restrict China through the Foreign Portfolio Investment (FPI) route.

Asked about monetising government debt, the official said that the issue would be looked at when we reach a stage. It has not come to that stage yet.

In the government's over Rs 20 lakh crore economic package, the official defended its structure while suggesting that comparisons with the economic packages of other countries should not be drawn as India's needs were different from others.

"We have gone in more reforms that is needed to give strength to the economy. This is required more in our country," the official source said.

Facebook on Monday launched a new consumer marketing campaign in India titled 'More Together'. India is the first country in the Asia Pacific region where such a campaign is being rolled out.

It is also the first time that Facebook is rolling out a 'high decibel campaign of this stature in India', the company said in a statement.

It is also the first time that Facebook is rolling out a 'high decibel campaign of this stature in India', the company said in a statement.

"India is at the heart of Facebook and one of our focus areas this year is to tell the exciting story of a service that is deeply embedded in the fabric of India," said Ajit Mohan, Vice President and Managing Director, Facebook India.

The campaign would have multiple campaigns over the next few weeks in eight languages and the one will be set in the context of Holi.

Facebook in 2019 introduced a new company logo to further distinguish the company from the Facebook app.

The company recently announced the appointment of Avinash Pant as the Marketing Director for India operations, to drive the consumer marketing efforts across the family of apps.

New Delhi, Apr 17: The Indian Railways turned 167 years old on Thursday and for the first time ever, its trains did not carry any passengers on its birthday and instead stood idle in the yards waiting for the nationwide lockdown to end.

On this day 167 years ago, the wheels of the first passenger train in the country from Mumbai to Thane started rolling.

In 1974, Indians experienced life without trains for the first time. In May 1974 during the strike of the railways that lasted for around three weeks, drivers, station masters, guards, track staff and many others went on 'chakka jam' demanding fixed working hours for train drivers and an across-the-board pay hike.

"I can recall those times vividly. I remember that our leader George Fernandes had almost secured a deal with the then railway minister, but it fell through when it was taken to the then Prime Minister Indira Gandhi," All India Railwaymens Federation General Secretary Shiv Gopal Mishra, who was an apprentice in the railways at that time, told PTI.

"Fernandes was arrested in Lucknow. The workers went through a lot at that time. But those were days that angry workers had refused to give in and took great risks to get their demands met," he said.

However, just like this time, four decades ago too freight trains carrying essential supplies were run and the unions agreed to let some passenger trains run on the trunk routes like the Kalka Mail from Howrah to Delhi.

"Never ever in its history, there has been such a long interruption of services. Not during the World Wars, not during the 1974 railway strike, or any other national calamity or natural disaster," a railway spokesperson said.

The first Indian Railways passenger train was flagged off on April 16, 1853, from Mumbai to nearby Thane.

On Thursday, the Railway Ministry wished the railways a happy birthday on Twitter - "Today, 167 years ago with the zeal of 'never to stop' the wheels of the first passenger train from Mumbai to Thane started rolling. For the first time, passenger services are stopped for your safety. Stay indoors & make the nation victorious," it said.

Railway has suspended all passenger services since March 25 till May 3 due to the coronavirus outbreak. Around 15,523 trains run by the railways have been affected including 9,000 passenger trains and 3,000 mail express services which are run daily. It caters to over 20 million passengers every day.

According to the Union health ministry, the death toll due to coronavirus rose to 414 and the number of cases to 12,380 in the country on Thursday.