New tax regime to benefit middle class; leave more money in their hands: FM Sitharaman
Finance Minister Nirmala Sitharaman on February 11 said the new tax regime will benefit the middle class as it will leave more money in their hands. Talking to reporters after the customary post-Budget address to the Central Board of RBI, she said it is not necessary to induce individuals to invest through government schemes but give him an opportunity to make a personal decision regarding investments. Under the revamped concessional tax regime, which will be effective from the next fiscal, no tax would be levied on income up to ₹3 lakh. Income between ₹3-6 lakh would be taxed at 5%; ₹6-9 lakh at 10%, ₹9-12 lakh at 15%, ₹12-15 lakh at 20% and income of ₹15 lakh and above will be taxed at 30%.
Ind vs Aus 1st Test | India thrash Australia by innings and 132 runs in 3 days
A wily Ravichandran Ashwin blew away a panic-stricken Australia with a fifer as India dismantled visitors’ second innings in a single session to win the opening Test by a comprehensive innings and 132 run-margin, on February 11. After taking a massive 223-run first innings lead, India decimated Australia for just 91 in 32.3 overs with the Test match finishing inside three days at VCA stadium in Jamtha. It’s rare that an Australian innings folds inside one session. After Axar Patel’s career-best 84 and Mohammed Shami’s entertaining 37 took India to a commanding first innings total of 400, Ashwin (5/37) literally mauled the Australians with the new ball, taking his 31st five-wicket haul in Test cricket.
Lashing out at the Congress-CPI(M) alliance in Tripura, Prime Minister Narendra Modi on February 11 said that old players of misgovernance have joined hands. Making a veiled reference to Tipra Motha, Mr. Modi claimed that some other parties were also helping the opposition alliance from behind but any vote for them will take Tripura several years backward. “Old players of misgovernance have joined hands, some other parties are also helping them from behind — whatever may be their name or slogan but even a single vote for them will take Tripura backward,” he said, while addressing an election rally at Ambassa in Dhalai district.
Delhi excise policy case | Enforcement Directorate arrests YSRCP MP’s son Raghava Magunta
The Enforcement Directorate has arrested Raghava Magunta, son of YSRCP MP Magunta Srinivasulu Reddy, for allegedly being one of the beneficiaries of the irregular formulation and implementation of the erstwhile Delhi excise policy. This is the ninth arrest made by the agency in the money-laundering case. According to its chargehseets, Mr. Magnuta and his father were part of the “South Group” — also comprising TRS MLC K. Kavitha and Aurobindo Pharma director P. Sarath Chandra Reddy — which had paid about ₹100 crore through the then Aam Aadmi Party communication in-charge Vijay Nair as “kickbacks” in advance.
Tejashwi Yadav confirms RJD and JMM will contest 2024 Lok Sabha polls together
Bihar Deputy Chief Minister Tejashwi Yadav on February 11 said that the Rashtriya Janata Dal and the Jharkhand Mukti Morcha will be fighting the 2024 Lok Sabha elections together. Tejashwi Yadav made the announcement after his meeting with Jharkhand Chief Minister Hemant Soren at his residence. “I met Chief Minister Hemant Soren today and discussed the challenges of the future and also about contesting upcoming Lok Sabha polls together,” the RJD leader said while speaking to media.
Special Investigation Team to probe Maharashtra journalist murder
A Special Investigation Team (SIT) will be set up to probe the alleged murder of a Marathi newspaper journalist Shashikant Warishe from Ratnagiri district, Maharashtra Deputy Chief Minister Devendra Fadnavis said on February 11. Mr. Fadnavis, who also holds the Home Department portfolio, said police has been directed to set up the SIT, which will be headed by a senior officer. On Monday, Warishe was mowed down by an SUV allegedly driven by a land broker, Pandharinath Amberkar, who was a supporter of Ratnagiri Refinery and Petrochemicals Limited at Barsu, while the victim was extensively reporting on issues related to the setting up of the unit. He died of injuries in a hospital at Kolhapur on Tuesday.
Delhi Deputy Chief Minister Manish Sisodia on February 11 dubbed the removal of the Kejriwal dispensation-appointed members from discom boards by Lieutenant Governor V. K. Saxena as “unconstitutional and illegal”. “The LG has started a new trend of reversing decisions taken by the elected government of Delhi,” Mr. Sisodia said at a press conference in New Delhi. The Deputy Chief Minister also rubbished the charges that the members appointed by the Arvind Kejriwal government provided benefits to the tune of ₹8,000 crore to the private discoms. “The LG can get the alleged “scam” investigated by any Central agency,” he added.
Pakistan government approves new tax on electricity to meet IMF conditions
Pakistan is moving swiftly to pacify the IMF with the approval of a new tax on electricity users, including farmers, to raise an additional Rs 170 billion in revenue to meet the conditions of the global lender, according to a statement. The International Monetary Fund delegation held 10-day marathon talks with Pakistan officials to release the next tranche of $1.1 billion out of an already agreed loan but left on Thursday for Washington without signing a staff-level agreement.
East Germany’s last communist leader dies at 95
Hans Modrow, who served as East Germany’s last communist leader during a turbulent tenure that ended in the country’s first and only free election, has died. He was 95. Modrow died early on February 11, the Left party parliamentary group tweeted. Modrow, a reform-minded communist, took over East Germany shortly after the Berlin Wall fell and later invited opposition forces into the government, but could not slow the gathering momentum for German reunification. “The entire peaceful course of establishing German unity was precisely a special achievement of his,” the Left wrote on Twitter. “That will remain his political legacy.”
Air Asia fined ₹20 lakh after DGCA finds lapses in pilots’ training
The Directorate General of Civil Aviation (DGCA) imposed a financial penalty of ₹20 lakh on Air Aisa for violation of applicable DGCA Civil Aviation Requirements, according to news agency ANI. The DGCA said that a few mandatory exercises of the pilots of the Tata Group-owned airline were not done during Pilot Proficiency Check as per schedule. A Financial Penalty of ₹3 lakh each has also been imposed on 8 designated examiners of Air Asia for failing to discharge their duties as per applicable DGCA Civil Aviation Requirements, it said.
Formula-E | Vergne wins Hyderabad E-Prix, Mahindra earns points in home race
The seasoned Jean Eric Vergne of DS Penske won an action-packed Hyderabad E-Prix on February 11, marking a successful return of a high-profile motorsport event in India. The 33-lap electric race had thrills both on and off the track. The organisers raced against time to get the Hyderadbad Street Circuit ready for Formula E’s debut in India but in the end, they pulled off the event amid a lot of fanfare.
