London mayor Sadiq Khan wins historic 3rd term as Tories routed in local polls

News Network
May 5, 2024

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London: London's Labour mayor Sadiq Khan on Saturday secured a record third term, as the party swept a host of mayoral races and local elections to trounce the ruling Conservatives just months before an expected general election.

Khan, 53, beat Tory challenger Susan Hall by 11 points to scupper largely forlorn Tory hopes that they could prise the UK capital away from Labour for the first time since 2016.

The first Muslim mayor of a Western capital when initially elected then, he had been widely expected to win as the opposition party surges nationally and the Tories struggle to revive their fortunes.

Hours later in the West Midlands, Conservative mayor Andy Street -- bidding for his own third term -- unexpectedly lost to Labour's Richard Parker, dealing a hammer blow to Prime Minister Rishi Sunak.

That narrow loss left the beleaguered leader with only one notable success in Thursday's votes across England, after Tory mayor Ben Houchen won in Tees Valley, northeast England -- albeit with a vastly reduced majority.

In a dismal set of results, Sunak's party finished a humiliating third in local council tallies after losing nearly 500 seats.

"People across the country have had enough of Conservative chaos and decline and voted for change with Labour," its leader Keir Starmer said shortly after confirmation of Parker's victory.

He called the result "phenomenal" and "beyond our expectations".

Writing earlier in Saturday's Daily Telegraph, Sunak had conceded "voters are frustrated" but tried to argue Labour was "not winning in places they admit they need for a majority".

"We Conservatives have everything to fight for," Sunak insisted.

'Spirit and values'

Labour, out of power since 2010 and trounced by Boris Johnson's Conservatives at the last general election in 2019, also emphatically snatched a parliamentary seat from the Tories.

Starmer has seized on winning the Blackpool South constituency and other successes to demand a general election.

Sunak must order a national vote be held by January 28 next year at the latest, and has said he is planning on a poll in the second half of 2024.

Labour has enjoyed double-digit poll leads for all of his 18 months in charge, as previous Tory scandals, a cost-of-living crisis and various other issues dent his party's standing.
On Thursday, it was defending nearly 1,000 council seats, many secured in 2021 when it led nationwide polls before the implosion of Johnson's premiership and his successor Liz Truss's disastrous 49-day tenure.

In the end, they lost close to half and finished third behind the smaller centrist opposition Liberal Democrats.

Meanwhile Labour swept crunch mayoral races across England, from Yorkshire, Manchester and Liverpool in the north to contests across the Midlands.

In London, Khan netted 44 percent of the vote and saw his margin of victory increase compared to the last contest in 2021.

"It's truly an honour to be re-elected for a third term," he told supporters, accusing his Tory opponent of "fearmongering".

"We ran a campaign that was in keeping with the spirit and values of this great city, a city that regards our diversity not as a weakness, but as an almighty strength -- and one that rejects right hard-wing populism," he added.

'Change course'

If replicated in a nationwide contest, the council tallies suggested Labour would win 34 percent of the vote, with the Tories trailing by nine points, according to the BBC.

Sky News' projection for a general election using the results predicted Labour will be the largest party but short of an overall majority.

Speculation has been rife in Westminster that restive Tory lawmakers could use dire local election results to try to replace Sunak.

Despite the returns being at the worst end of estimates, that prospect has not so far materialised.

Ex-interior minister and Sunak critic Suella Braverman warned in the Sunday Telegraph that Sunak's plan "is not working and he needs to change course", urging a more muscular conservatism.

But she cautioned against trying to replace him, warning "changing leader now won't work: the time to do so came and went".

Meanwhile, polling expert John Curtice assessed there were some concerning signs for Labour, which lost control of one local authority and some councillors elsewhere reportedly over its stance on the Israel-Hamas war.

"These were more elections in which the impetus to defeat the Conservatives was greater than the level of enthusiasm for Labour," Curtice noted in the i newspaper.

"Electorally, it is still far from clear that Sir Keir Starmer is the heir to (Tony) Blair."

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News Network
March 28,2025

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A 7.7 magnitude earthquake, and an aftershock of 6.8, hit central Myanmar at 12.50pm (local time) Friday. The epicentre was 16km northwest of the city of Sagaing, and at a depth of 10km, the United States Geological Survey said. 20 deaths have been reported - in Myanmar so far - by local media.

Deaths have also been reported from a mosque in Mandalay city, which collapsed while people were inside, praying and a university building in which a fire broke out. And a 1,000-bed hospital in Myanmar capital Naypyidaw has become a "mass casualty area", news agency AFP said.

The Myanmar junta has declared an 'emergency' and has appealed for international aid.

Tremors were felt as far away as northern Thailand, where some metro and rail services were suspended in Bangkok. Thai Prime Minister Paetongtarn Shinawatra is holding an "urgent meeting" to review the crisis and she too has declared a state of 'emergency' in the capital city.

China's Yunnan province also reported strong tremors; the China Earthquake Networks Center said the magnitude was 7.9. And mild tremors were also reported from Kolkata in Bengal and parts of Manipur, where tremors of 4.4 magnitude were recorded as well as Dhaka and Chattogram in Bangladesh.

Prime Minister Narendra Modi has said India is ready to offer any assistance needed. "Praying for the safety and wellbeing of everyone," he posted on X. "... have asked our authorities to be on standby."

Terrifying videos on X showed buildings shaking in Bangkok and other cities, with people running onto the streets in panic. "I heard it... I was sleeping in the house and then I ran as far as I could in my pyjamas out of the building," Duangjai, a resident of popular tourist city Chiang Mai, told AFP.

One particularly horrifying video showed water from an infinity pool falling over the edge.

And another showed an under-construction skyscraper in Bangkok's Chatuchak neighbourhood collapsing. According to reports, 43 workers have been trapped amid the debris.

"When I arrived to inspect the site, I heard people calling for help, saying help me," Worapat Sukthai, deputy police chief of Bang Sue district, told AFP. "We estimate that hundreds of people are injured but we are still determining the number of casualties."

In Myanmar, an old bridge over the Irrawaddy River and some residential buildings having collapsed, with images from Mandalay (around 24km from Sagaing) suggesting more people may be trapped.

Other videos showed extensive damage to the airport in Mandalay and to a monastery near the city of Taunggyi, in Myanmar's Shan State that is on the border to Thailand.

Earthquakes are relatively common in Myanmar, where six strong quakes of 7.0 magnitude or more struck between 1930 and 1956 near the Sagaing Fault, which runs north to south through the country.

A powerful 6.8-magnitude earthquake, in the ancient capital Bagan in central Myanmar, killed three people in 2016, also toppling spires and crumbling temple walls at the tourist destination.

The impoverished nation has a strained medical system, especially in its rural states.

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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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News Network
March 21,2025

Bengaluru: The Karnataka Assembly on Friday passed Bills doubling the salaries of the chief minister, ministers, and legislators, adding an annual burden of ₹62 crore on the exchequer.

The CM's monthly salary will increase from ₹75,000 to ₹1.5 lakh, while ministers will see a 108% hike, from ₹60,000 to ₹1.25 lakh. MLAs and MLCs will get ₹80,000 per month, up from ₹40,000, and their pension will rise from ₹50,000 to ₹75,000.

The Karnataka Ministers Salaries and Allowances (Amendment) Bill and the Karnataka Legislature Salaries, Pensions and Allowances (Amendment) Bill were passed without debate, as the Opposition BJP protested in the well of the House.

The Bills cited the rising cost of living as justification for the hike. The Assembly Speaker and Legislative Council chairperson will now receive ₹1.25 lakh per month, up from ₹75,000.

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