Union Finance and Corporate Affairs Minister Nirmala Sitharaman chairs the 36th GST Council meeting, in New Delhi on July 27, 2019. Also seen Union MoS Finance and Corporate Affairs Anurag Singh Thakur.IANSIndia Inc has sought a stimulus package of Rs 1 lakh crore to push investment and demand and take the economy and industry out of a slowdown. Finance Minister Nirmala Sitharaman on Thursday met industry captains to seek consultations for boosting industrial growth in which India Inc placed a demand for a stimulus package of over Rs 1 lakh crore to beat the slowdown.Industry top officials said the government has assured them to take steps soon to boost the economic growth.In a meeting with top industry leaders, called by Finance Minister Nirmala Sitharaman to discuss ways to revive the growth, Assocham President BK Goenka said amid the current slowdown in the global and domestic market, there is a need to have quick-fix solutions.”The economy requires a critical intervention by introducing a stimulus package. We have suggested for a package of over Rs one lakh crore,” he said.After the three-hour meeting, India Inc also said the government has assured them that it would take action soon to revive the industry and push economic growth, he said.JSW Group Chairman Sajjan Jindal said: “It was decided that the government is going to take action very soon to revive the industry and it is a matter of sentiments. We got positive feedback from the finance minister”. The industry is suffering from issues in sectors like steel, NBFC, and automobile.Piramal Enterprises Chairman Ajay Piramal said that the industry raised several matters such as reluctance of banks to lend to the industry. “It is not that there was a lack of liquidity in the banks, but lending is not taking place. There is stress on the economy as far as NBFC sector was concerned,” he told reporters after the meeting.He added that the NBFC issue is impacting sectors like auto, home loan, and MSME. aceI am told that there will be action soon. So, we will wait for that,” he said.Goenka said to boost exports and ensure stability, tax policies and schemes on refunds and incentives should be made steady and continuous, without intermittent changes. Given the fiscal constraints, the government can raise resources by monetising idle government land. In turn, such land can be used for affordable housing and new projects.”While India’s exports are declining, exports in June itself showing a drop of over 9 per cent year-on-year, the unabated US-China trade war throws many opportunities for India, which needs to be tapped.Higher rate of corporate taxes in India also make Indian businesses uncompetitive. Reviving private sector capex is also key to the economic growth. One of the growth drivers would be investment allowance and accelerated depreciation in green field project. There should be incorporation of accelerated depreciation system in first year or over 3 years. Tax rebates can be given for profits ploughed back as investment in new projects, he said.Though there has been rationalization in the category of goods falling under 28 per cent GST, there are still 33 items which remain in the highest slab. “It is recommended that the rate of other goods falling under such category such as cement, consumer durables, automobiles including parts thereof etc should be reduced to 18 per cent”.The Government is also said to have assured that punitive penal provisions concerning non-compliance with CSR spending norms under the companies law would not be pursued.Piramal said the industry demanded that oversight on CSR spending should not result in any imprisonment.Vice-President CII T V Narendran said the government sought views on ways to further stimulate the country’s economic growth. “Across the board, we discussed the key issues,” he said, adding slowdown in the auto industry would have an implication on the steel sector.Sandip Somany, President, FICCI, said transmission of cut in interest rate to consumers by banks is a big issue. “Banks must be encouraged to pass on the benefits of rate reduction to consumers and borrowers. We are hopeful of further rate cut. It is encouraging that the RBI has reduced rates by cumulative 110 basis points,” he said.Goenka strongly advocated setting up a ‘development bank’ which will support startup risk capital. He also sought the Finance Minister’s consideration on Accelerated Depreciation on investments as another measure to encourage investmentEmphasising the immediate need for revival of exports, Assocham president said there are sectors such as textile and garments, are suffering due to constant review and frequent changes being brought in tax refunds/incentives schemes.
Kolkata: The alumni of 1993 batch of IIT Kharagpur have joined hands with their alma mater to set up six Distinguished Chair Professorships in AI and Machine Learning in memory of their martyred batch mate. Ajay Kumar Singh, an IPS officer, had laid down his life during an operation against insurgents near Ranchi in 2000.IIT KGP Director Prof Partha Pratim Chakrabarti said on his Facebook page, “A Truly KGP-ian way to remember a martyred batch mate who had dedicated his life in Service of the Nation and performed the highest sacrifice. Let us use this to build a new initiative to touch the lives of the People of India. Thanks 1993 team. Also Read – Heavy rain hits traffic, flightsIIT KGP is already in the process of setting up a Centre for Artificial Intelligence (AI) and researchers in several departments in the institute are working on product development or applications related to AI.The campaign for Chair Professorships in AI was led by Neeraj Mendiratta and created buzz among his batch mates across the globe with around hundred alumni having donated close to Rs 75 Lakh, an IIT KGP statement said.Of the total amount, a sum of Rs 36 Lakh will be contributed towards the Ajay Kumar Singh Chair Professorships in AI and the remaining for endowment in the name of the batch. Also Read – Speeding Jaguar crashes into Merc, 2 B’deshi bystanders killedThe alumni are aiming to reach Rs 50 Lakh figure for the endowment which will give them a classroom at IIT KGP named after their batch.Dean of Alumni Affairs, Prof. Subrata Chattopadhyay said, “I am overwhelmed with the initiative of IIT KGP alumni to give back to their alma mater. We just need to create avenues which the alumni would find worthwhile and beneficial for country and they would generously contribute towards it.” The Chair Professorships will be for two years duration for existing and new teachers including visiting and adjunct faculty in Artificial Intelligence starting from academic year 2018-19. The support will be in the form of a top-up salary which will be Rs 25,000 every month.”We, the batch mates of Ajay, fondly remember him as a braveheart . We wanted to commemorate his name in association with an initiative like excellence in teaching and research in the area of machine learning which can do wonders for India,” batch mate Paresh Krishnakant Joshi said.He expressed hope that through this initiative, IIT KGP would be able to promote AI teaching and in a way that it could be simplified and mass marketed.AI and Machine Learning has become the next big thing in the 21st century impacting healthcare, electronics and communication, space technology, transport, automobiles and even home appliances.
Kolkata: A 35-year-old woman was killed after she was hit by a private bus near Chiriamore at Barrackpore in North 24-Parganas on Tuesday.Police said the incident took place when the woman was taking her child to her school on Tuesday morning. The seven-year-old child also received injuries and is admitted to hospital.A police officer said the victim, Nitu Gupta, was a local resident. Police came to know after speaking to locals that the accident took place because two buses were racing between each other to get more passengers. Also Read – Speeding Jaguar crashes into Merc, 2 B’deshi bystanders killedOne of the buses failed to control the speed and hit the woman while she was crossing the road. Locals took the woman to a hospital where she was declaredbrought dead.The offending bus was seized but the driver had managed to flee.In two road accidents in Birbhum, one was killed when a motorbike collided head on with a truck at Mohammad Bazar.The road remained close after the accident. In another road accident in Birbhum, a toto collided head on with a truck at Abdarpur and it claimed the life of one person, who was travelingin the toto.The driver of the toto also received severe injuries.
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This modal can be closed by pressing the Escape key or activating the close button.PlayMute0:00/0:00Loaded: 0%Progress: 0%Stream TypeLIVE0:00 Playback Rate1xFullscreen UP NEXT:UP NEXT: Click for Sound StokeonTrentLive – we’re #localandproud Video Loading Video Unavailable Video will play in We pay for stories! Send your videos to firstname.lastname@example.orgHello and welcome to Stoke-on-TrentLive’s breaking news service bringing you all the latest updates from Stoke-on-Trent and North Staffordshire on Monday, November 26. Our team of reporters will be updating this live service with all the latest on the traffic and travel and weather updates – as well as news and entertainment through the day. We’ll be bringing you the very latest updates in our live news feed below. For the latest news and breaking news visit www.stokeontrentlive.co.uk Get all the big headlines, pictures, analysis, opinion and video on the stories that matter to you. Follow us on Twitter @SOTLive – the official Sentinel account – real news in real time. We’re also on Facebook – your must-see news, features, videos and pictures throughout Stoke-on-Trent, North Staffordshire & South Cheshire. Want to tell us about something going on where you live? Let us know – Tweet us @SOTLive or message us on our Facebook page . And if you have pictures to share, tag us on Instagram at StokeonTrentLive . 22:08Volunteers out to catch speeding motoristsResidents headed out to tackle speeding in their neighbourhood earlier. Members of the Penkhull Community Speedwatch group were on Queen’s Road to monitor drivers.PC Barry Joynson, who regularly supports the volunteers, said: “That is one of the roads local residents have raised concerns over excess speed. As well as Princes Road, Newcastle lane, Trent Valley Road, Hartshill Road, and Harpfields Road.”20:38Police are currently at the scene of a collision involving a truck and a car. The force was called out to Stanley Matthews Way near the bet365 Stadium.Police at the scene of a collision on Stanley Matthews WayOfficers are currently organising recovery of the vehicles. 16:57An unusual fire todayEmergency services were called to a bus stop – to deal with a suitcase on fire. The incident in Goldenhill also resulted in one man being checked by paramedics. Full story here. 13:29Traffic released on the #M6 northbound between J10 and J10A #Willenhall #Wolverhampton following a collision involving a van that has overturned. 1 lane remains closed, long delays on approach to the incident. Consider alternative routes— Highways England (@HighwaysWMIDS) November 26, 201813:25A34 Newcastle Road busy but moving between Springfield Retail Park and A500 D Road (Hanford Interchange). 13:13A52 Werrington Road Westbound busy but moving before A52 Leek Road (Lime Kiln Traffic Lights). 12:331 lane has re-opened, 3 remain blocked on the #M6 northbound between J10 and J10A #Willenhall #Wolverhampton following a collision involving a van that has overturned. Delays building. take care on approach pic.twitter.com/PjJKzoEsB4— Highways England (@HighwaysWMIDS) November 26, 201812:12 A5272 Chell Street busy but moving at A5272 Merrick Street / B5047 Hulton Street (Providence Square). 10:55Brownhills Road / Davenport Street / Newcastle Street busy but moving between A500 (Porthill Bank) and Tunstall. Travel time is five minutes. 10:45One lane closed and queuing traffic due to broken down vehicle on M6 Southbound from J15 A500 (Stoke-On-Trent) to J14 A5013 (Stafford North).Lane one (of three) closed. Between Stoke-on-Trent and Stafford. 10:09Heavy traffic on A527 Porthill Road at A500 D Road / Longbridge Hayes Road / Longbridge Hayes Road (Porthill Bank). 09:44Queuing traffic on A527 Biddulph Road coming from Brinley Ford Southbound at A5272 High Lane roundabout.09:44Middlewich Road in Sandbach is now open again— Cheshire Police (@cheshirepolice) November 26, 201808:59Due to essential statutory maintenance work the main entrance to A&E at Royal Stoke will be closed overnight from 7pm on Thursday 29 November 2018 until 6am the next day. Signed diversions for alternative access will be in place. *Ambulance arrivals will be unaffected* pic.twitter.com/axufwEHFjr— UHNM NHS Trust �� (@UHNM_NHS) November 26, 201808:44A53 Elder Road busy but moving at A50 Waterloo Road (Cobridge Traffic Lights). 08:35 Queuing traffic on A5272 Chell Street at A5272 Merrick Street / B5047 Hulton Street (Providence Square). Travel time is seven minutes. 08:34Slow traffic on A52 Werrington Road Westbound before A52 Leek Road (Lime Kiln Traffic Lights). Travel time is 11 minutes.08:10Slow traffic on A50 Uttoxeter Bypass into town from A521 (Blythe Bridge Roundabout / Draycot, Blythe Bridge) to A518 / B5030 (McDonalds roundabout, Spath). In the roadworks area.Due to road closed on A522.07:40There is a road closure on Middlewich Road, Sandbach between Crewe Road and Park Lane whilst officers deal with a collision. There is no access via Platt Avenue— Cheshire Police (@cheshirepolice) November 26, 201807:40Heavy traffic on A50 Westbound from Meir Tunnel towards the A500 D Road (Sideway Roundabout). 07:40Usual congestion on Brownhills Road / Davenport Street / Newcastle Street between A500 (Porthill Bank) and Tunstall. 07:35A533 Middlewich Road in both directions closed, heavy traffic due to accident from Crewe Road to Park Lane.Affecting traffic between Sandbach and Elworth. 07:31A50 Victoria Road busy but moving at A5007 City Road. 07:25Usual slow traffic on A500 D Road Southbound before M6 J15. 07:08A53 Leek New Road busy but moving at A5009 Baddeley Green Lane. 07:08Traffic heavier than normal on A50 Through The Roadworks at B5030 Ashbourne Road (Little Chef roundabout). Travel time is seven minutes. 07:08Good morning!Welcome to our daily live blog!