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Karnataka have voiced objections against the Karnataka reservation proposals, calling the move «discriminatory» and expressing concerns about potential repercussions for the tech industry. In a significant move, the Karnataka cabinet has greenlit the draft State Employment of Local Candidates in Industries Factories and Other Establishments Bill, drawing swift and sharp criticism from notable figures. The bill, aimed at prioritizing local employment, has raised concerns about its potential impact on investment and the tech sector in the state. Prominent voices like Kiran Mazumdar-Shaw and TV Mohandas Pai have openly criticized the state government's decision. Kiran Mazumdar-Shaw, Executive Chairperson of Biocon Ltd, voiced her concerns, stating, «As a tech hub, we need skilled talent. While the intention is to boost local employment, we must ensure it doesn't jeopardize Karnataka's leadership in technology. There should be provisions exempting highly skilled roles from this policy.» TV Mohandas Pai, former CFO of Infosys, condemned the bill, labeling it as «discriminatory» and «regressive.» He asserted, «This bill must be scrapped. It's akin to fascism. How can the government dictate private sector hiring practices? This move is reminiscent of Orwell's Animal Farm. It's unbelievable that @INCIndia supports such a bill.»

Karnataka Chief Minister Siddaramaiah on Tuesday announced a major raise in the pay of government employees with retrospective effect from July 1, 2022, after unions threatened to go on an indefinite strike. The revision will increase the basic salary and pension of employees by 58.50%, the chief minister said in a statement in the assembly. The hike in pay and pensions would mean an additional expenditure of Rs 20,208 crore per annum to the cash-strapped government which has been struggling to meet demands from both government and MLAs who have been lobbying hard for funds for their constituencies. The government has set aside the funds in the budget for 2024-25 to meet the revised pay and pension, the CM said. The revision is in line with the recommendations of the seventh pay commission, headed by former chief secretary K Sudhakar Rao. The commission, set up on Nov 19,2022, to address the demands for revision of pay, allowance, and pension of government employees, submitted its report on March 24, 2024.

A new survey by Debt.com reveals that inflation is exacerbating the challenges many Americans face in paying their medical bills. The survey, which polled 1,000 Americans, highlights a significant rise in medical debt since the onset of the COVID-19 pandemic.

medical insurance for senior citizens in India and how a reliable medical insurance policy can empower them in their golden years.Medical insurance for senior citizens is not just a financial product; it is a necessity. Here are some key reasons why:When choosing a health insurance policy for senior citizens, it is important to consider the features and benefits it offers.

Countries around the world are looking for ways in which to address the challenge of competition in the digital world. In America, there are a number of bills before the US Congress seeking to provide legislative avenues through which this problem can be tackled. Both the US Department of Justice and the Federal Trade Commission have initiated a number of high profile antitrust lawsuits against Big Tech companies.

₹7 lakh. Multiple rates and excessive rule variation by category cause taxpayer confusion, in addition to the financial burden of paying upfront for a tax adjustment with one’s actual dues much later—once returns for the fiscal year are filed and processed. In essence, TCS is an advance tax, with one’s money locked in for a period that could easily exceed a year.

Digital Wallet, meant to give 10,000 baht (about $275) to 50 million citizens in digital money to spend at local businesses.Prime Minister Srettha Thavisin posted on the social platform X, saying the registration will begin Aug. 1 and that he has given instructions to ensure the smooth implementation of the program.

Supreme Court verdict on the blockades erected by the Haryana government on Punjab-Haryana borders, even as they plan to intensify the stir. Samyukt Kisan Morcha (Non Political) and Kisan Mazdoor Sangharsh Morcha, the two organisations which have been leading the protests since February, said they have decided to postpone their "Dilli Chalo" call for the time being. The Punjab and Haryana High Court had directed the Haryana administration to remove blockades on Punjab-Haryana borders. However, the administration has now approached the Supreme Court against the high court order. The representatives of the two farmer organisations met at Shambhu border on Monday and decided to wait for the Supreme Court order.

BJP retired, reducing the party’s strength in the Upper House to 86 and the NDA’s to 101, from a current total of 226 due to 19 vacancies. Despite this reduction, the NDA can still pass key legislation with the support of seven non-aligned nominated members, two Independents, and allied parties such as AIADMK and YSRCP during the upcoming budget session. However, promptly filling the vacancies in the nominated category is essential to minimize the alliance's reliance on these external supports. The retiring nominated members include Rakesh Sinha, Ram Shakal, Sonal Mansingh, and Mahesh Jethmalani. They had joined the BJP after their nomination to Rajya Sabha. Another nominated member currently with the BJP is Gulam Ali, who will retire in September 2028.

Sri Lanka will cut power prices by 22.5% from Tuesday, the utilities regulator said, as the Indian Ocean nation attempts to ease the cost of living for millions of people amid its worst financial crisis in decades. After the crisis shrank its economy 7.8% in 2022, Sri Lanka boosted power prices by 75% that September, and by another 66% the following February, to meet the terms of a $2.9-billion bailout from the International Monetary Fund (IMF). Industries would also see a cut of about 33% in power tariffs, the regulator added, with poorer users getting a reduction of about 2,000 rupees ($7) in their bills.

Supreme Court agreeing to consider a submission for setting up a constitution bench to hear pleas challenging the validity of passage of laws like the Aadhaar Act as money bills, and hoped a final verdict will come before CJI D Y Chandrachud retires in November this year. A bench comprising Chief Justice of India (CJI) Chandrachud and justices J B Pardiwala and Manoj Misra was urged by senior advocate Kapil Sibal, who also heads the Supreme Court Bar Association, that the pleadings are complete and the petitions needed to be listed for hearing. «I will take the call when I form the constitution benches,» the CJI said. In a post on X, Congress general secretary in-charge communications Jairam Ramesh said, «In the last ten years many Bills have been bulldozed through Parliament by having them declared 'Money Bills' under Article 110 of the Constitution. A good example of this is the Aadhar Act of 2016.» «I had challenged its declaration as a money bill in the Supreme Court, and in his dissenting judgment then the present CJI had called this declaration as a 'fraud on the Constitution'. I had challenged other instances as well,» Ramesh said.

Russia may finally be set to legalize Bitcoin (BTC) and altcoin mining after a State Duma committee approved a bill for a vote later this month.

Global banks are targeting shorter maturities in their purchases of India’s sovereign bonds, tapping improved liquidity amid limited supply, according to Bank of America Corp.’s head of India fixed income. Foreign banks bought nearly 600 billion rupees ($7.2 billion) in all maturities since the start of June even as state-run banks and mutual funds sold, according to Clearing Corp. of India data. CCIL doesn’t break down the data by maturity.

import duties, flagging dumping of chemicals from China. Crop Care Federation of India, which represents key players in the agrochemical sector, has sought an increase in import tariffs, currently at about 7.5%. «The government should raise import tariffs by 7.5% counteracting Chinese predatory pricing and monopolistic practices with targeted tariff,» said Harish Mehta, senior advisor, Cropcare Federation of India, adding that this will safeguard the chemical industry, which is a key contributor to the nation's GDP and exports. An increase between 5% and 7.5% in tariffs will go a long way towards levelling the playing field on the price front for domestic players, it suggested. The industry in its representation has pointed out that the Indian chemicals sector was trade surplus as recently as 2020-21 but reported a $17 billion trade deficit in FY23, arguing that predatory trade practices by foreign players, notably from China are largely behind this swing. As per industry estimates, the global chemicals industry is already worth $5,000 billion and India's share is small, valued at $220 billion in 2022. Industry in its representation has also made a case to fast-track trade remedy measures including making BIS standards mandatory in specialty chemicals and agrochemicals by line ministries along with need to expedite regulatory approvals by respective ministries (agriculture, health, environment) with preference for domestic manufacturing projects.

Union Budget on July 23 in Parliament, standard deduction to Rs 1 lakh and increasing tax break among others are some of the expectations for the comman man that consultancy firm KPMG expects. «There has been a significant rise in medical expenses, fuel costs and overall inflation. Keeping in mind the increase in personal expenditure it is popularly expected to enhance the standard deduction to Rs 1 lakh from the existing limit of Rs 50,000,» said the firm in a note. The Union Budget will be Prime Minister Narendra Modi-led coalition government's first major policy announcement after the 18th Lok Sabha polls.

Jairam Ramesh targeted the Bharatiya Janata Party-led Centre on Sunday, over the recent tax collection data, and said that individuals are paying more tax than companies, and the middle class is bearing the weight of heavy taxation while Rs 2 lakh crore has been put in «pockets of billionaires» due to slashing of corporate taxes. He highlighted that income tax collection stood at Rs 3.61 lakh crores and gross corporate tax collections were Rs 2.65 lakh crores, from April 1 to July 1, 2024. Taking to social media platform X, Jairam Ramesh said, «As we head towards the Budget on July 23rd, data has just been released that gross personal income tax collections amounted to Rs 3.61 lakh crores during April 1-July 1 2024 while gross corporate tax collections were Rs 2.65 lakh crores. This reconfirms and re-establishes the point we have been making for quite some time--that individuals are paying more tax than companies.»

Insurance Act, 1938, during the upcoming Budget session to achieve 'Insurance for All by 2047'. Some of the provisions, which could be part of the amendment bill, include composite license, differential capital, reduction in solvency norms, issuing captive license, change in investment regulations, one-time registration for intermediaries and allowing insurers to distribute other financial products, sources said. The move will enable the entry of differentiated insurance companies like in the banking sector. The banking sector is currently categorised as universal bank, small finance bank, and payments bank. The provision of composite licenses would allow life insurers to underwrite health insurance or general insurance policies.

Tamil Nadu Prohibition Amendment Act, 2024, stipulating enhanced punishment term and quantum of fine for offences like manufacture, possession and sale of illicit liquor that endangers lives, has come into force, Chief Minister M K Stalin said on Saturday. The TN Prohibition Act, 1937, which was amended in the wake of the hooch tragedy in Kallakurichi was adopted unanimously by the state legislative assembly on June 29 and Governor R N Ravi gave his assent on July 11, he said. An official release here said that the amended Act has been notified in the Gazette. Days after over 60 people died following the consumption of methanol-laced illicit liquor in June, the chief minister piloted a bill amending the TN Prohibition Act,1937, ensuring harsher punishment to the offenders so as to prevent hooch tragedies in the state.

Buddhist monk entrusted with protecting the Dalai Lama and foretelling his people's future is concerned. The Dalai Lama turns 89 on Saturday and China insists it will choose his successor as Tibet's chief spiritual leader. That has the Medium of Tibet's Chief State Oracle contemplating what might come next. «His Holiness is the fourteenth Dalai Lama, then there will be a fifteenth, sixteenth, seventeenth,» the medium, known as the Nechung, said. «In countries, leaders change, and then that story is over. But in Tibet it works differently.»

A former Indiana lawmaker accused of pushing a bill favoring a casino company in exchange for promises of employment has been sentenced to a year and a day in federal prison

Parliamentary Activity (PA) — much like the Paranormal Activity series of supernatural horror movies created by Oren Peli — is bona fide creepy. Which, as far as its schlock value goes, means that PA has become downright entertaining.