Tensions rise as an Iranian attack in Pakistan kills innocent people. Global concerns about potential escalation and the impact on Middle Eastern stability have grown amid regional instability. 

“minutes ago, two important headquarters of the so-called Jaish-ul-Adl terrorist group were targeted in Pakistan. These headquarters were destroyed by rockets and drones.”

Iran’s Nour News agency on X

Iran-Pakistan Hostility: Airstrike Tragedy Sparks Retaliation

The recent Iranian airstrike within Pakistan, which resulted in the terrible loss of two children, has heightened tensions between the two neighbouring countries. Pakistan has fiercely criticised the incident, calling it an “unprovoked violation of its airspace” and giving a stark warning about retribution. The airstrike targeted purported bases of the Sunni militant group Jaish al-Adl, also known as Jaish al-Dhulm in Iran, in Balochistan’s Koh-e-Sabz district.

A mosque and homes were the targets of the strikes in Koh-e-Sabz, Balochistan; the location is renowned as the previous residence of Mullah Hashim, the second-in-command of Jaish-ul-Adl, who was killed in combat with Iranian forces in 2018. Recent tensions rose after Iran accused Jaish al-Adl militants of storming a police station, killing 11 Iranian officials. The separatist group Jaish al-Adl, which operates across borders, demands the independence of Iran’s Sistan and Baluchistan province. Iran’s subsequent ballistic missile strikes in Iraq and Syria, which targeted an alleged Mossad espionage base and anti-Iran groups, raised concerns about a more significant regional confrontation and elicited criticism from the US and UN.

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Claiming accuracy in the attack, Iran credited a combination of drones and rockets for demolishing these purported Jaish-ul-Adl camps. The apparent success of the operation adds a new dimension to Iran’s ongoing struggle with the militant organisation, raising concerns about the more enormous consequences for regional stability.

Iran has launched ballistic missiles into Iraq and Syria, allegedly targeting Israeli spy facilities and “anti-Iran terror groups.” This has led to the current state of affairs. Iran’s actions continue to pique international interest and alarm, especially in light of the region’s complex geopolitical landscape.

The international community is watching the developing circumstances as these events take place to comprehend the complete scope of the military activities and any potential effects they may have on the precarious balance of power in the Middle East. The authenticity and ramifications of Iran’s allegations and the response from Pakistan and other regional parties continue to play essential roles in setting the events in this volatile region.

When a Bengaluru resident orders a chicken shawarma through a food delivery app, he gets a nasty surprise. He felt something metallic in his mouth while eating, and he later posted about the shocking discovery on Reddit.

This is what transpired for me a short while ago today. In Nagawara, Bangalore, I went to Absolute Shawarma (near JMJ Hospital) and ordered a Shawarma. I had placed my order with Swiggy, and when I began to eat, I was surprised to see something crisp—a metal fragment from the shawarma’s flame grill. The Swiggy support agent’s casual attitude toward the situation shocked me greatly. Is there a way for me to file a report or pursue legal action against this injustice? Wrote a Reddit user.

The incident quickly gained attention on the internet as people shared similar stories and voiced worries about the safety of the food. Users shared their experiences with the app, although many appeared to have the same problem.

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Someone commented, “Yeah. Even though the pizza was almost ₹800, I had already consumed half of it when I discovered the nail. Since resolving customer complaints takes time, there was no reason to waste it.

Reddit

“I once discovered a fingernail in my pizza, and Swiggy reimbursed the full cost of the pizza,” the second person said. If the current guy isn’t helping you, try bringing up this issue through another complaint option on the app. Give them a call and try to talk to someone. That works better than the conversation. If not, the best action is to lodge a customer complaint with Swiggy and the eatery.

India Inc. would anticipate increased funding and tax policy directives, particularly for the infrastructure sector, as part of directional policy announcements in this year’s interim budget. The power sector is a significant driver of infrastructure development.

India recently shifted from a power deficit to a surplus nation. As a result, everyone needs access to affordable, sustainable, and dependable electricity. Tax incentives and outcome certainty can help draw in investors and developers as the government looks to meet ambitious capacity targets.

Date extension for reduced corporate tax

First, the current 15% corporate tax rate should be extended to a later date (March 2027 or even 2029) for newly established domestic manufacturing companies (including those involved in power generation) that begin manufacturing operations by March 31, 2024.

India still has much-unrealised manufacturing potential, particularly in light of disruptions in global supply chains and MNEs assessing international trade partner diversification (i.e., China Plus One strategy). Expanding the eligibility period for reduced tax rates can elevate India’s standing among global manufacturing hubs in the eyes of investors.

Budget 2024 and the Taxpayer

Make the lower manufacturing tax rate clear.

Businesses are growing more concerned about their carbon footprints as their supply chains become more diverse and global. A greener energy alternative is provided by green hydrogen, particularly for industrial applications with high carbon emissions. The government’s National Green Hydrogen Mission has set an ambitious yearly production capacity of 5 MMT by 2030, and financial benefits in the form of production-linked incentives have already been announced.

Suppose the lower manufacturing tax rate is expressly made clear to apply to green hydrogen and hydrogen derivative businesses, as it did previously for companies that generate electricity. In that case, it will provide income tax certainty and encourage long-term investments.

Power Sector: Carbon certificate taxes with a broad base

India unveiled the Green Credits Programme (GCP) at the most recent COP28 to promote voluntary environmental good deeds. The taxation of alternative forms of credit certificates remains to be determined, even though GCP is not dependent on carbon credits under the Carbon Credit Trading Scheme 2023.

The United Nations Framework on Climate Change (UNFCC) has validated a 10% beneficial tax rate for income arising from the transfer of carbon credits under the current tax law. All other certificates, including Voluntary Emission Reduction (VER) and Renewable Energy Certificates (RECs), are still taxable based on interpretation. Broadening the base of the concessional tax rate to encompass income from all carbon certificates makes sense.

Increase the time horizon for infrastructure projects.

The elected government is expected to unveil a more comprehensive set of fiscal and budgetary policies for the sector later in the year. Still, in the interim, the Interim Budget may decide to extend the deadline for sovereign wealth and pension funds to make qualifying investment investments in the infrastructure sector. The current deadline expires on March 31, 2024. Another term of tax exemption shows promise to perform at least as well as the first one since it brought in direct investments worth about US$ 6.7 billion in 2022 (up from US$ 3.7 billion in 2021).

In the days leading up to the budget announcement, the government has its work cut out for it. The Interim Budget of February 1 should be interpreted as a directional tax policy layout for the next few years as the country prepares for the general elections in a few weeks. When the full-year budget is presented later in the year, the strength of the push for most of these policy changes will depend on the election outcome.

Ms. Haley, the former U.S. Ambassador to the U.N., came a close third with nearly 20% of the votes polled. Former U.S. president Trump won the caucus with over 50% of the votes. Indian-American Nikki Haley finished third in the Iowa caucuses. Nikki Haley asserted that seventy per cent of Americans do not want another Trump-Biden rematch. The majority of people disapprove of both of them.

The Iowa caucuses on Monday formally pushed off the beginning of the long process by which the Republicans and Democrats choose their nominees for the presidential election on November 5. Florida Governor Ron De Santis came in second with 21% votes. Fellow Indian-American Vivek Ramaswamy secured 7.7% of the votes polled and suspended his presidential campaign. Nikki Haley, who has been climbing the ladder over the last few weeks, asserted she is headed to New Hampshire, the battleground for the next Republican primary election on 23 January.

“Her presidential campaign is the last hope to avert a rematch between Trump and incumbent President Biden, a Democrat, in the presidential election.”

South Carolina governor

Addressing her supporters, the lone woman in the race on either side of the political spectrum says that a Trump-Biden rematch will be another toss-up election. It could go either way and could have more disputes over election interference. Joe Biden can win again, with Kamala Harris waiting in the wings. Nikki Haley also claimed the Republican contest to choose the presidential nominee, now a two-person race.

“Trump and Biden are both about 80 years old, and they both put our country deeper in debt, and our kids will never forgive them for it. Trump and Biden need a vision for our country’s future because the past consumes both.“

Nikki Haley

Ms Haley asked supporters to look at what happens when she goes head-to-head against Biden and wins in a landslide. It is not even close. That means no recounts, no lawsuits, and no doubts. It means no more Chuck Schumer leading the Senate. We will limit the do-nothing Washington politicians, rebuild our economy, and secure our border. And make no mistake, it will restore our national pride. 

Vivek Ramaswamy backs out from presidential candidature, supports Donald Trump

A president who will rebuild our economy, close our border, and stand up to our enemies. Most importantly, we deserve a president who will stop our self-loathing, end the division and fear, and make America strong and proud!” she said.

The budget announced on February 1 is interim and set to expire by May, when general elections are scheduled. While Nirmala Sitharaman, the finance minister, has stated that the interim budget will contain “no spectacular announcements,” some adjustments cannot be completely ruled out.

After all, the tax rebate was raised for people with incomes up to Rs 5 lakh in the February 2019 budget, which was also an interim one after the current government’s first term. Because of this, individuals earning up to Rs 7 lakh could still avoid paying taxes if they claimed deductions totalling at least Rs 2 lakh, which would reduce their taxable income to less than Rs 5 lakh (including the standard deduction of Rs 50,000).

Budget 2024: Indian cryptocurrency players want tax cuts

Budget 2024 and the Taxpayer

The following are the demands on Budget 2024 from mutual funds, the pension and insurance industries, and taxpayers:

• Greater basic exemption limit: An increase in the basic exemption limit will lower the tax liability across slabs, that is, for all taxpayers, in contrast to the tax rebate, which is available on incomes up to Rs 5 lakh and Rs 7 lakh under the old and new tax regimes, respectively.
• Increased medical expense deductions: In light of the growing cost of healthcare, taxpayers are hoping for a rise in the allowable amounts for medical expenses and health insurance premium payments. At the moment, taxpayers can deduct up to Rs 25,000 annually from their taxes for parents and their families health insurance premiums paid under Section 80D. For senior citizens, the maximum deduction is Rs 50,000.
• Equity between self-employed professionals and salaried taxpayers: Following the new tax system in Budget 2020, taxpayers can switch from the previous tax system to a new one with lower tax rates and fewer deductions. While self-employed people and businesses can enter the new tax regime and switch back to the old one once in their lifetime, salaried individuals can choose between the two tax regimes every financial year.
• Income from annuities is tax-free, and life insurance is tax-deductible separately: Raising the tax-free cap on employers’ contributions to the National Pension System to 12 per cent of basic pay and dearness allowance, if any, is what the Pension Fund Regulatory and Development Authority is advocating for. Currently, it is only 10 per cent for workers in the private sector. The cap is already higher for those who work for the government, at 14 per cent. Employers may deduct this from their business expenses, and employees may take advantage of this deduction on their employers’ contributions.
• Tax breaks on home loans under the new regime: Real estate stakeholders want more deductions for interest payments than they could under the previous tax system. Since 2014, this has stayed constant at Rs 2 lakh.

The Indian cryptocurrency and web3 industry association, Bharat Web3 Association (BWA), recently submitted its wishlist for the 2024 budget to the finance ministry. This time, the industry calls for tax rationalisation and regulatory tightening regarding offshore exchanges.

The finance ministry has been blocking the URLs of offshore exchanges not registered with the Financial Intelligence Unit-India (FIU-IND) and sending show-cause notices to them. This comes when the Indian crypto sector has already begun to see some regulatory green shoots.

Infrastructure suppliers like Polygon and Biconomy, cryptocurrency exchanges like CoinDCX and CoinSwitch, virtual gaming platform Hike, and other Web3 participants like Tax Nodes and Liminal are among the present members of BWA.

Indian cryptocurrency players want tax cuts.

Re-examining the flat rate of 30% applicable to income from the transfer of VDAs, and reduction in the rate of TDS on the transfer of VDAs (virtual digital assets) to 0.01% from 1%; specifically including foreign exchanges in the scope of TDS.

The current tax system “has not achieved the intended purpose of enabling VDA transactions to be monitored,” according to the note. The statement continued, “Instead, it encourages Indians to shift such activities to other easily accessible channels that make it impossible to monitor the same.”

There is a 30% tax on revenue from virtual digital assets (VDAs), which include cryptocurrency tokens, non-fungible tokens (NFTs), and other tokens. Every transaction that exceeds Rs 10,000 is subject to an additional Tax Deducted at Source (TDS) of 1%, which means that a sizable amount of capital gets trapped in the cycle every day. Reclaiming these TDS amounts is limited to filing tax returns.

CoinDCX co-founder Sumit Gupta said that to evade these taxes, over 90 per cent of the traffic from Indian crypto exchanges has moved to offshore exchanges.

Budget 2024: RBI Monetary Policy Review

Effects on small companies

Cryptocurrency unicorn CoinDCX made similar recommendations to BWA’s in a different pre-budget recommendation letter distributed last month.

Two of its main demands are to reduce the transfer rate of VDAs from thirty per cent to one-half, in line with other assets like securities, and to include offshore exchanges in the TDS mandate.

CoinDCX stated that it would “specifically include offshore platforms in the scope of the TDS mandate under Section 194S to ensure a level playing field between Indian and offshore exchanges.”

The nation is proud to have a “thriving developer community that is contributing substantially to the development of the Web3 ecosystem, globally,”

According to the letter

According to reports, 11% of the world’s Web3 talent resides in India. The government exchequer receives less revenue when entrepreneurship, innovation, job creation, wealth creation, and foreign investment are discouraged. The entire industry is subjected to a high rate of 30%, along with the prohibition of offsetting losses. Thus, it promotes migration outside of India,” the letter stated. CoinDCX further noted that small businesses will be “burdened” and faced with challenges by this substantial capital gains tax.

The report stated that the VDA trading sector faces a disadvantageous position, deterring potential growth and investment despite the government allowing a lower tax regime in the share trading business.

Even so, industry participants might expect little changes soon because 2024 will be an election year, and this is only a vote on account, not a comprehensive budget.

Chief public policy officer of CoinDCX and director of BWA Kiran Vivekananda stated that the government has already taken some action to bring offshore entities under FIU-IND and that he expects little from the union budget because elections are coming up in April.

The requests are more justified this year. We needed more information last year to support the effect on how businesses. I believe the G20 talks have also contributed to the industry’s general understanding that this is more than just conjecture.

Kiran Vivekananda, Chief Public Policy Officer, CoinDCX and Director of BWA

The budget is anticipated to bolster domestic factors to support the nation’s economy and promote global growth amid unrest and uncertainty.

IDBI Bank Deputy Managing Director Mr Suresh Khatanhar on Budget 2024

The budget, scheduled to be presented on February 1st, will probably centre on sustaining the economic recovery despite global obstacles to reach the goal of a $5 trillion GDP in the upcoming years.

Measures will bolster domestic manufacturing, promote rural development, develop social infrastructure, lure foreign investment, and build upon previous budgets.

The budget may prioritize further streamlining Bankruptcy and Insolvency Code regulations and reevaluating the National Asset Reconstruction Company and India Debt Resolution Company’s organizational structures to promote smooth economic credit flows, given the banks’ crucial role.

Preliminary budget announcements will probably focus on keeping India one of the fastest-growing major economies and pushing it to become the third-largest GDP (at $5 trillion) by 2027–2028. The budget is anticipated to bolster domestic factors to support the nation’s economy and promote global growth during unrest and uncertainty.

Incentivising production

There may be increased efforts towards developing new and emerging sectors to protect itself from the turmoil in the world and promote medium-term growth. To propel manufacturing growth into the next stage, there will be a focus on increased funding allocation for upscaling and vocational training in selected sectors and programs like production-linked incentives.

Sustained efforts to streamline laws and procedures to facilitate business dealings will contribute to developing a favourable atmosphere and protecting the national economy from outside shocks. The budget is anticipated to prioritize increasing exports to various new and diverse markets and stimulating domestic demand to support manufacturing.

Capital spending on infrastructure, currently concentrated on building roads and railroads, will probably expand to include building ports and shipping, energy, and urban infrastructure. Announcements of tax breaks and incentives to draw in foreign investment may be made. Tax policies are anticipated to increase disposable income and savings, which may multiply the impact on domestic demand.

A sustainable future is a top priority for the government, so announcements about sustainable finance are likely to come, particularly about MSME (micro, small, and medium-sized enterprises) financing. It is anticipated that digital banking and improved access to financial services—mainly via digital channels—will take centre stage.

Announcements about the fintech industry, which has grown to be a significant stakeholder, might be made to give them the right incentives to expand their role and support more established players in the market.

The government is anticipated to convey through the budget its intention to stick with a prudent fiscal management strategy, emphasizing increased capital expenditures bolstered by solid tax receipts.

It is generally anticipated that the government will be able to meet its FY24 budget deficit target of 5.9 per cent of GDP and will be on track to announce a more stringent budget deficit target for the following year.

To set out on a style journey that speaks volumes, enter the magic of the holiday season with grace and flair. The exquisite collection of footwear promises to add a touch of elegance to every step and provides complete comforts to the feet, elevating the look and helping embrace the latest trends. During this joyous occasion, showcase the impeccable sense of style and create an elegant statement. The well-chosen footwear is the ideal choice to complete the look, whether attending a formal event or having a great time dancing at an after-party. Prepare to shine brightly to choose the perfect pair to adorn your feet. This holiday season, take centre stage and let fashion steal the show. Don’t just follow the trends during the festivities; set them on fire with the ideal footwear from a better collection. 

Although we frequently undervalue footwear daily, it significantly impacts our posture and general health. The body alignment can be affected considerably by the sandals we select. Sandals may have long-term effects on our health and posture. According to data, Most people (83.2%) wear inappropriate shoes. In comparison, only 16.8% wear the shoes that are advised, which include thick soles, arched or cushioned insoles, and heel heights between 0.5 and 4 cm. A little over 82.2% of patients with plantar fasciitis reported wearing shoes with a minimal heel height, and 55.5% said they were wearing shoes without integrated arch support or a stiff, non-cushioned insole. The severity of heel pain experienced by participants who wear inappropriate footwear is higher (P-0.013), which restricts their daily activities.

Extended standing, dancing, and manoeuvring durations through congested areas are hallmarks of joyous festivities. It should be the primary priority to prioritise comfort. Seek out secure fitting and well-cushioned insoles. While choosing the perfect footwear for this festive season, choose something that goes with trends. It’s appropriate to embrace your heritage and celebrate tradition with modernism during the holiday season. Ladies, accentuate the regal allure of your saree by selecting a delicate yet fashionable pair of cork sandals. Choose Cork sandals with floral embellishments to bring freshness to your salwar suit outfit. Select sandals with a soft colour scheme that complements the floral designs on your clothing to create a cohesive and eye-catching look. To improve the appearance, go for detailed embroidery, eye-catching hues, or shiny accents.

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Winter brings chilly mornings and windy days; as the temperature drops, it becomes increasingly important to keep our feet warm to ensure overall comfort. During winter, one can pick rubber slippers to keep the feet warm and moisturised. Rubber slippers’ natural ability to withstand moisture is one of their many advantages in the winter. Unlike other materials that absorb moisture and weaken protection, rubber repels water, snow, and slush. Embellishments for a touch of glam must be combined with comfort and safety from chilly weather. 

The footwear selection becomes the defining factor for comfort and elegance as you embark on this enchanting style journey throughout the holiday season. With every stride, people embrace total ease and stay stylish with the perfect selection. During this happy occasion, show off the impeccable sense of style. It’s a celebration of fashion and the chance to make every moment unforgettable, so choosing the perfect pair to get ready to step into the spotlight becomes more than just a decision. Including cork sandals in festive fashion attire guarantees optimal comfort throughout the joyous festivities and brings a modern touch.

The Agriculture Ministry reported that the government has recently increased the ministry’s budget. Still, the church has not yet utilized it because over Rs 1 lakh crore has been relinquished in the last five years.

The Department of Agriculture & Farmers’ Welfare (DA&FW) surrendered Rs 21,005.13 crore of its annual allocation of Rs 1.24 lakh crore during the last financial year (April 2022-March 2023), according to the report titled “Accounts at a Glance for the Year 2022-2023.” This is nearly four times the amount the department turned in for the 2021–2022 fiscal year, totalling Rs 5,152.6 crore out of its allotted Rs 1.23 lakh crore.

In 2020–21, Rs 23,824.53 crore; in 2019–20, Rs 34,517.7 crore; and in 2018–19, Rs 21,043.75 crore were turned over to the department.

Khalistani Threats Cast Shadow: Republic Day Braces for Blood-soaked Menace

A total of Rs 9 lakh has been turned over by the ministry’s Department of Agricultural Research and Education, which was allotted Rs 8,658.91 crore in 2022–2023; Rs 1.81 crore in 2021–2022; Rs 600 crore in 2020–21; Rs 232.62 crore in 2019–20; and Rs 7.9 crore in 2018–2019.

With the Centre launching the Kisan Samman Nidhi during the financial year 2018-19, the combined budget of the two departments under the Agriculture Ministry increased from Rs 54,000 crore (or 2.3% of the Centre’s total budget of Rs 24.42 lakh crore) in 2018-19 to Rs 1.32 lakh crore (or 3.5% of the total Rs 39.44 lakh crore during 2022-23.

Over the past five years, the annual allocation to the scheme has fluctuated between Rs 20,000 crore and Rs 75,000 crore. However, the government marginally reduced the ministry’s total allocation to 1.25 lakh crore during the current financial year 2023-24 from Rs 1.32 lakh crore in 2022-23, perhaps due to the non-utilization of funds.

Will there be trouble on Republic Day?

Khalistani terrorist Gurpatwant Singh Pannun makes a terrifying ultimatum aimed at Punjab Chief Minister Bhagwant Mann and the state’s Police Chief, Gaurav Yadav, causing unease on Republic Day. Pannun’s violent speech, which calls for gangsters to band together for a potential attack, raises security worries and highlights the region’s ongoing threats from extreme elements. Authorities are on high alert, emphasising the problematic balance between democratic processes and the need to protect public figures from rising extremist threats.

This latest incident comes barely a week after Pannun criticised the Indian government during the consecration ceremony of the Ayodhya Ram Temple on January 22. In that case, he not only issued threats but also urged the Muslim community to oppose the ceremony, claiming it was built on the site of the Babri Masjid.

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According to intelligence sources, Pannun has accused Prime Minister Narendra Modi of being a “global enemy of Muslims” and that the Ram Mandir event is part of Modi’s “Operation Bluestar against Muslims.”

Pannun’s failure to hold a referendum for a separate Khalistan has compounded the issue, sending him into what intelligence sources regard as a “panic mode.” His recent call to destroy India’s economy by targeting the Bombay Stock Exchange on March 12, 2024, adds to the anxiety. Pannun’s provocative acts and threats highlight the persistent problems posed by extremist forces, as well as the importance of increased security measures to prevent potential violence and unrest.

Security staff and intelligence agencies are on high alert in response to Pannun’s recent threat, and activities are intensifying to stop any possible attack on the AAP, the CM. This problem draws attention to how difficult it is to maintain democratic processes while also protecting prominent figures’ safety from persistent extremist threats. As the country approaches Republic Day, it is necessary to implement strong security measures and take quick action against those who promote violence.