NEW DELHI: Finance minister Nirmala Sitharaman on Monday introduced the Taxation Laws (Amendment) Bill, 2019, in the Lok Sabha to replace the Ordinance that was used to slash corporate tax rate to stimulate growth rate in a slowing economy. The Taxation Laws (Amendment) Bill, 2019 will replace the Taxation Laws (Amendment) Ordinance, 2019, promulgated on September 20, 2019, to cut the base corporate tax rate to 22 per cent from 30 per cent. Sitharaman introduced the Bill just before the proceedings in the Lok Sabha were adjourned for the day following opposition uproar over political developments in Maharashtra. Also, the International Financial Services Centres (IFSCs) Authority Bill, 2019, that provides for creation of a unified financial regulator for IFSCs was introduced amid a din over the Maharashtra developments. Sitharaman had on September 20 announced the lowering of the base corporate tax rate to 22 per cent from 30 per cent for companies that do not seek exemptions, and … [Read more...] about Finance minister introduces Bill in Lok Sabha to cut corporate tax
Deputy chairman of rajya sabha
The 250th session of the Rajya Sabha that was adjourned sine die on Friday recorded near 100% productivity. Chairman M .Venkaiah Naidu complimented the members for making the session productive and for improving the quality of debates.“I am overall happy for this session but for the small disappointment which also could have been avoided,” he told the House during his valedictory address at the completion of the session.Prime Minister Narendra Modi was present during the valedictory remarks.“I am glad that collectively, all of you have risen to the occasion and kept up the happy tide. I would like to sum up the course of this historic session as one marked by seriousness and brevity,” Mr. Naidu said.The Chairman said the session had steadied the ship which has been facing stormy waters for some time now.‘Best show in 49 years’He said the Upper House clocked the best performance in 49 years with 9.5 starred questions orally replied every day and 39% … [Read more...] about Session productive, quality of debates improved: Venkaiah
Despite facing reverses in the Lok Sabha elections by losing four seats to BJP and three to Congress, TRS emerged stronger by sweeping the local body elections in June this year. Its position in the assembly was solidified with MLAs from other parties joining its ranks. Election year 2019:After retaining power in December 2018 assembly elections, Lok Sabha election results were a big setback to TRS. The party was hoping to win 16 of 17 seats, and dreamt of playing the kingmaker in the formation of the government at the Centre. But, the party suffered a jolt with BJP winning four seats, including Nizamabad which was held by CM’s daughter Kalvakuntla Kavitha. However, the ruling party came up trumps in the local body elections by bagging 80% seats and all the 32 zilla parishad chairpersons’ seats. TRS got a shot in the arm when it wrested Congress stronghold, Huzurnagar, in the bypolls with a handsome margin of 43,000 votes. The ruling party is now bracing for urban body … [Read more...] about Saffron surge hurts Pink party’s purple patch
By Shantanu Nandan Sharma It is 11 am on Thursday (December 12) and Guwahati is under curfew, imposed by the state government to curb the protest against the Citizenship Amendment Bill (CAB). A small group of protesters defy the curfew and attempt to gather at Guwahati’s Latasil playground — a venue for sporting events as well as Bihu celebrations. Police act quickly and push the crowd back. Soon, another group emerges from a bylane to join the first group. The protesters refuse to budge despite police’s appeal. The law-enforcers lathicharge. But a third group, fourth and a fifth group come from the bylanes to join the main group outside the ground. Police fire tear gas shells to disperse the crowd streaming in from the bylanes. Within half an hour, protesters’ numbers swell to around 8,000, forcing the security forces to step back. The crowd now manages to enter the Latasil ground. A helicopter and a drone are pressed into service to monitor the defiant … [Read more...] about What lies ahead for Assam which is steadfastly, and often violently, protesting the new citizenship act?
PATNA: Making a frontal attack on poll strategist Prashant Kishor for criticizing JD(U)’s official stand on the amended Citizenship Act, the party’s national general secretary (organization) Ram Chandra Prasad Singh on Friday said people like Prashant Kishor have come in the party on “compassionate ground” and if they didn’t like the JD(U)’s line they should choose their own path. Responding to a query on Kishor, Singh said, “When did he came in the party? Which work of the organization has he done and where is he working now?” “Our leader, Nitish Kumar, gave him so much honour. But look at what he has been doing now. Such people have come on 'compassionate ground' and they think they would stand in front of those leaders who have risen based on their works. Nothing will happen by writing tweets only,” Singh, who is JD(U) leader in the Rajya Sabha, said while making an oblique reference to Kishor’s series of tweets in … [Read more...] about Prashant Kishor free to quit party, says JD(U) general secretary