PM Modi wins Varanasi for 3rd time; Congress' Ajay Rai loses by 1.5 lakh votes

News Network
June 4, 2024

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New Delhi: Prime Minister Narendra Modi has won the Varanasi Lok Sabha seat for a third time. Mr Modi has beaten the Congress' Ajay Rai by over 1.5 lakh votes. In third place was the Bahujan Samaj Party's Ather Jamal Lari, who finished nearly 5.8 lakh behind the Prime Minister.

The party has won this seat nine times since 1991, with only RK Mishra of the Congress, in 2004, breaking that streak. And it was, for some time, another Congressman who raised opposition hopes.

Earlier today Mr Rai - who has contested and lost each of the past three general elections from the temple town - threatened (briefly) to cause, perhaps, the biggest shock in Indian electoral history.

Initially Mr Rai was leading the Prime Minister by 6,223 votes. As the day wore on, though, the PM stretched his legs and disappeared into the distance, finishing with over 6.12 lakh votes.

However, delight over the Prime Minister's win is likely to be tempered by the BJP's less-than-stellar performance across the state in this election, despite having dominated its electoral politics since 2014, when a 'Modi wave' swept UP (and the country) and corralled 61 of its 80 Lok Sabha seats.

Since then the BJP has been nearly unbeatable in UP.

That was followed by a Yogi Adityanath-led BJP scripting a stunning revival at the state level - by winning 312 of the state's 403 Assembly seats. In 2012 the BJP had won only 47 seats.

Yogi Adityanath claimed a second term in 2022, despite the party being heavily criticised over the farmers' protests. And, before that, the BJP amassed 62 seats in the 2019 general election.

The 2024 Lok Sabha election in UP was expected to be no different, at least according to exit pollsters, who handed Mr Modi's party a big win. A poll of exit polls gave the BJP 68 seats.

The Congress-led INDIA bloc was only expected to get 12 seats.

The reality, though, has been starkly different.

Driven by Akhilesh Yadav's Samajwadi Party, the INDIA group has gone head-to-head with the BJP in UP and will, most likely, finish a distant second - an unthinkable result before today.

The SP is set to win 38 seats - a record haul for the party in Lok Sabha polls - if the numbers hold, while the Congress will win seven. Crucially, the Congress is set to win back the Amethi bastion it lost to the BJP's Smriti Irani five years ago; the outgoing Union Minister had beaten Rahul Gandhi.

However, it is not Mr Gandhi who will gain revenge for the Congress.

It will be Kishor Lal Sharma, after Rahul Gandhi opted to contest the Raebareli seat - in addition to defending his Wayanad seat - left vacant by his mother Sonia Gandhi's shift to the Rajya Sabha.

Mr Gandhi is en route to massive wins from both seats.

The turnaround in UP is the story of the day and underlines the INDIA bloc's surprising challenge to the BJP, which includes tight contests in two other battleground states - Bengal and Maharashtra.

In Bengal Mamata Banerjee's Trinamool fought off an early surge from the BJP and is likely to improve on its haul of 22 (of 42) seats from the 2019 election. More importantly, it will knock back the BJP in the eastern state, from which much was expected after a record haul of 18 last time.

Meanwhile, in Maharashtra the Maha Vikas Aghadi, despite being rocked by splits within the Shiv Sena and Sharad Pawar's NCP, has dominated. The MVA, which also includes the Congress, is on course to win 29 of 48 seats in a state in which the BJP was hoping to make big gains.

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News Network
April 7,2025

Mangaluru, Apr 7: The long-standing demand for a separate Beary Development Corporation has hit a wall — the Karnataka government has officially stated that no such proposal is currently under consideration.

Beary-speaking people, mainly settled across Dakshina Kannada, Udupi, and parts of Kodagu, have been urging the government to set up a dedicated body for the welfare of their community and the promotion of their unique 1,200-year-old language. But during the recent legislative session, Minority Affairs Minister B.Z. Zameer Ahmed Khan confirmed that his department has not received any proposal on this matter.

The clarification came in response to a question by MLC Ivan D’Souza, who highlighted the community’s cultural richness and a population of over 25 lakh. “The community has raised this demand several times to support education and social upliftment, but the government hasn’t taken any concrete steps,” he said.

In his reply, the minister pointed out that the Karnataka Minorities Development Corporation (KMDC) already runs various welfare schemes for Muslim, Christian, Jain, Buddhist, Sikh, and Parsi communities. Since Beary speakers are considered part of the Muslim community, they are eligible for benefits under these existing programs, he added.

Still, many in the Beary community feel that without a separate development body, their identity, language, and specific needs risk being overlooked.

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Agencies
March 28,2025

Udupi: Deputy Commissioner K. Vidya Kumari has directed officials to expedite land acquisition for designated industrial zones in the district to facilitate new industries. She issued these instructions during a meeting at Rajatadri on Wednesday.

Lands have been identified across various taluks for industrial development. The DC emphasized that KIADB must acquire these lands and ensure essential infrastructure—electricity, roads, and drainage—to attract industries and generate employment.

A total of 77 acres of private land has been acquired and compensated, including 31.2 acres in Kerebettu village, Hebri taluk, and 45.7 acres in Shivapura village. However, approval for 36.5 acres of government land is still pending. She instructed the forest department to assess whether this land falls under an eco-sensitive zone.

For the Belapu Industrial Area, the DC urged officials to accelerate minor land acquisitions for road expansion and commence construction at the earliest. She also mandated rainwater harvesting systems for all units in the Miyaru Industrial Area to tackle water scarcity.

Currently, 22 export-based units operate in the district. The DC encouraged further promotion of exports and an increase in their number.

The meeting was attended by Joint Director of Industries Nagraj V. Naik, KIADB Development Officer Srinivasa Murthy, Small-Scale Industries Association District President Harish Kunder, Deputy Director of the District Industrial Center Seetharam Shetty, District Skill Development Officer Arun B., and others.

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News Network
April 1,2025

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As the new financial year begins, several significant financial and tax-related changes take effect from April 1, 2025. Many of these updates were announced by Finance Minister Nirmala Sitharaman in the Union Budget 2025 and have now been officially approved as part of the Finance Bill 2025.

Some of the key changes include income tax exemption on annual earnings up to Rs 12 lakh, deactivation of UPI for long-unused mobile numbers, and suspension of dividend payouts for individuals who haven’t linked their PAN with Aadhaar. Below is a comprehensive look at all the important updates.

1. Income Tax Exemption & New Tax Slabs
Under the revamped tax regime:
✅ Individuals earning up to Rs 12 lakh per year will be completely exempt from income tax.
✅ For salaried employees, a standard deduction of Rs 75,000 raises the effective tax-free limit to Rs 12.75 lakh.
✅ To claim a rebate of up to Rs 60,000, taxpayers must file their returns on time.
✅ The new tax structure applies to income earned between April 1, 2025 – March 31, 2026, and will be reflected in ITR filings for FY 2025-26 (AY 2026-27).

2. Major Changes in TDS & TCS Rules
To provide tax relief and streamline transactions, several TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) amendments have been introduced:
🔹 TDS on bank interest for senior citizens has doubled from Rs 50,000 to Rs 1 lakh.
🔹 TDS on dividend income has increased to Rs 10,000.
🔹 TCS on overseas remittances under the Liberalised Remittance Scheme (LRS) has been raised from Rs 7 lakh to Rs 10 lakh.

3. UPI Deactivation for Inactive Mobile Numbers
The National Payments Corporation of India (NPCI) will start unlinking UPI IDs associated with inactive mobile numbers. If your number has been inactive for a long period:
🔸 Your bank may remove it from their records.
🔸 You could face disruptions in Google Pay, PhonePe, or any UPI-based transactions.
🔸 This change enhances security by preventing unauthorized access to old UPI-linked accounts.

4. New GST Rules
Several Goods and Services Tax (GST) updates take effect:
🔹 Multi-factor authentication (MFA) is now mandatory for logging into the GST portal, improving online security.
🔹 E-way bills can only be generated for documents issued within the last 180 days, ensuring better compliance.
🔹 Hotel room tariffs above Rs 7,500 per day are now classified as "Specified Premises," attracting an 18% GST on restaurant services.

5. Toll Tax Hike Across National Highways
From April 1, 2025, toll charges across various highways will increase:
🚗 Delhi-Meerut Expressway, NH-9: Toll for cars will rise by Rs 5 to Rs 170.
🚛 Trucks and buses will now pay Rs 580 on major highways.
🚗 Delhi-Jaipur Highway: The Kherki Daula toll plaza will maintain current rates for cars, but the monthly pass for larger vehicles will rise by Rs 20 to Rs 950.

6. End of Equalisation Levy on Digital Transactions
The Finance Act 2025 removes the Equalisation Levy, which previously imposed a 2% tax on e-commerce and 6% on online advertisements. This change aims to:
✅ Reduce tax burden on digital service providers.
✅ Attract foreign investments in India’s digital economy.

7. Positive Pay System for Cheque Payments
To prevent bank fraud, the Positive Pay System requires account holders to:
✅ Electronically submit cheque details for payments above Rs 50,000.
✅ Ensure the details match before the cheque is processed.

8. KYC Mandatory for Mutual Fund & Demat Accounts
🔹 KYC (Know Your Customer) verification is now compulsory for mutual fund and demat accounts.
🔹 Nominee details will also undergo re-verification to enhance security.

9. Major Credit Card Perk Reductions
Credit card users will see major perk reductions, particularly with SBI, IDFC First, and Axis Bank:
❌ SBI Cards will remove complimentary insurance coverage for accidents (Rs 50 lakh for air, Rs 10 lakh for rail).
❌ Reward points on SBI Cards will be slashed from 15% to just 5%.
❌ IDFC First Club Vistara cardholders will lose milestone benefits and Club Vistara Silver membership perks.
❌ Axis Bank is discontinuing Maharaja Club tier memberships and premium vouchers.

10. Minimum Balance Rules for Bank Accounts
📌 Major banks like SBI, PNB, and Canara Bank have updated their minimum balance requirements based on account location:
🏙 Urban branches will require higher minimum balances.
🏡 Rural and semi-urban accounts may have lower minimum balance thresholds.
🚨 Failing to maintain the required balance will result in penalty charges, varying by bank.

11. Unified Pension Scheme (UPS) for Government Employees
The Unified Pension Scheme (UPS), introduced in August 2024, takes effect:
✅ Central government employees under NPS can opt for UPS.
✅ Those with at least 25 years of service will receive 50% of their average basic salary as a monthly pension.

Final Thoughts

These changes, introduced as part of the Union Budget 2025, mark a significant shift in India's tax, banking, and digital transaction landscape. With higher tax exemptions, updated TDS & TCS rules, stricter banking security, and GST amendments, the new financial year aims to simplify compliance while improving financial security and economic efficiency.

Stay informed and ensure all necessary updates to your financial accounts to avoid disruptions.

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