A Haldwani-based transporter tried to kill himself -- he&#39;d reportedly consumed poison -- at Uttarakhand Agriculture Minister Subodh Uniyal&#39;s janta darbar&nbsp;at the BJP office in Dehradun.

Unhappy with the losses he had incurred due to GST and demonetisation, the 44-year-old man, Prakash Pandey, collapsed in front of the minister after telling him about his debts.&nbsp;

The man said he was unable to repay loans taken from finance companies and had already written to the prime minister, the finance minister, and BJP president Amit Shah, asking that the interest on his loans be waived.&nbsp;

After failing to pay the EMIs on three vehicles he&#39;d taken on loan, Pandey had come to Dehradun to meet Uniyal.

During his outburst, news reports quoted Pandey as saying the Congress was a better party since he had been &quot;financially ruined&quot; because of the BJP.

&quot;While he was still recounting his story, he collapsed. The party workers rushed him to the ICU of Doon hospital in my car,&quot; PTI reported Uniyal as saying.

The incident took place on Saturday afternoon. Pandey had come to the BJP with a bunch of documents including his letters to the Prime Minister&#39;s&nbsp;Office and the finance minister.&nbsp;

Pandey was rushed to the Doon Hospital where he was admitted to the ICU. He was later&nbsp;transferred to a private hospital.

Doctors said Pandey was in critical condition and was being kept under observation.

 
&nbsp;

Prakash Pandey, 44, said he'd written to the prime minister and the finance minister asking that the interest on the loans he'd taken be waived

A Haldwani-based transporter tried to kill himself -- he'd reportedly consumed poison -- at Uttarakhand Agriculture Minister Subodh Uniyal's janta darbar at the BJP office in Dehradun. Unhappy with the losses he had incurred due to GST and demonetisation, the 44-year-old man, Prakash Pandey, collapsed in front of the minister after telling him about his debts. The man said he was unable to repay loans taken from finance companies and had already written to the prime minister, the finance minister, and BJP president Amit Shah, asking that the interest on his loans be waived. After failing to pay the EMIs on three vehicles he'd taken on loan, Pandey had come to Dehradun to meet Uniyal. During his outburst, news reports quoted Pandey as saying the Congress was a better party since he had been "financially ruined" because of the BJP. "While he was still recounting his story, he collapsed. The party workers rushed him to the ICU of Doon hospital in my car," PTI reported Uniyal as saying. The incident took place on Saturday afternoon. Pandey had come to the BJP with a bunch of documents including his letters to the Prime Minister's Office and the finance minister. Pandey was rushed to the Doon Hospital where he was admitted to the ICU. He was later transferred to a private hospital. Doctors said Pandey was in critical condition and was being kept under observation.

Dehradun: Burdened by GST, demonetisation debt, man tries to kill himself at BJP office; critical

In a move aimed at electoral reforms, finance&nbsp;minister Arun Jaitley today announced guidelines for electoral bonds for funding of political parties.

The finance minister said the electoral bonds would be available in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh and Rs 1 crore.

&quot;Interest-free bonds for donation to political parties can&nbsp;be purchased from SBI for 10 days in the months of January, April, July and October,&quot; Jaitley said.

The finance minister in his budget last year had announced the introduction of &quot;electoral bonds&quot; aimed at improving transparency in funding of political parties.

The bonds can only be issued by a notified bank and can be bought using cheques or digital payment, negating the prevalence of hawala money.

All political parties are required to inform the Election Commission about the bonds and from where it would be accessed.

The finance minister in his budget last year had announced the introduction of "electoral bonds" aimed at improving transparency in funding of political parties.

In a move aimed at electoral reforms, finance minister Arun Jaitley today announced guidelines for electoral bonds for funding of political parties. The finance minister said the electoral bonds would be available in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh and Rs 1 crore. "Interest-free bonds for donation to political parties can be purchased from SBI for 10 days in the months of January, April, July and October," Jaitley said. The finance minister in his budget last year had announced the introduction of "electoral bonds" aimed at improving transparency in funding of political parties. The bonds can only be issued by a notified bank and can be bought using cheques or digital payment, negating the prevalence of hawala money. All political parties are required to inform the Election Commission about the bonds and from where it would be accessed.

Finance minister Jaitley announces guidelines for electoral bonds

It is safe to say that the issue of job creation was among the top economic issues of 2017, along with demonetisation and GST. And as a long-term issue, its importance definitely exceeds the other two, which though severe are likely to be short-term shocks. Further, riding on the youth vote in 2014, the Narendra Modi government has consistently made jobs its central plank, ensuring that the issue always remains in the news.

&nbsp;

The year began with the question of whether demonetisation had negatively affected job growth, especially in the informal sector. Unfortunately, like most questions about demonetisation and its impact on the informal economy, this one too suffers from lack of data to answer it. The government has doggedly refused to address the question directly by failing to conduct the necessary surveys at a national level. But anecdotal evidence, as well as survey evidence from a few sectors, does indicate that the severe contraction in economic activity caused by demonetisation did eliminate informal jobs on a large-scale.

&nbsp;

The long-run question is, however, what it has always been. Can the Indian economy generate employment in the required numbers to provide gainful, meaningful work to the millions of youth who enter the labour market each year?&nbsp;

&nbsp;

On this, 2017 will be known more as a year of confusion and backpedaling on promises mixed with some welcome developments on the data front.

&nbsp;

A principal source of confusion has been the term &ldquo;jobless growth.&rdquo; Only last week two ex-policymakers argued that &ldquo;India&rsquo;s jobless growth is a myth.&rdquo; Citing Labour Bureau survey data, the authors pointed out that India&rsquo;s problem is not lack of jobs, but rather lack of &ldquo;regular, productive, and well-paid jobs.&rdquo; But this has always been the understanding among all observers of the Indian economy.&nbsp;

&nbsp;

As I have also consistently pointed out in this column, jobless growth was never about the absence of jobs, it was about the failure of the formal sector to generate decent jobs, forcing the vast majority to work in the informal sector. The question is, why has growth mostly created &ldquo;bad&rdquo; jobs. And how can it create more &ldquo;good&rdquo; jobs? So it is rather late in the game to be resorting to such denial techniques and using clickbait headlines to boot.

&nbsp;

Another source of confusion has been the lack of data. The most frequently used NSSO data has been available only every five years. India did not have a large-scale, high-frequency employment data collection system till 2010. The Labour Bureau experimented with annual surveys from 2010 to 2015, but these were not used much by academics or policy-makers for quality as well as availability reasons, and have now been discontinued.&nbsp;

&nbsp;

Due to lack of reliable, high-frequency employment data, much poorly informed back and forth has been carried out in the op-ed pages. In mid-2017, a task-force was set up under then NITI Aayog Chairperson, Arvind Panagariya to prepare a report on how to improve the country&rsquo;s employment statistics system. Admitting that the debate &ldquo;has been taking place in the absence of accurate data or analysis&rdquo;, the report made recommendations to collect &ldquo;more reliable, timely and relevant labour market data&rdquo;.&nbsp;

&nbsp;

In this respect, a welcome development is that in 2017, the NSSO has started doing a Periodic Labour Force Survey (PLFS). This is an unprecedented (for India) continuous survey that will be conducted quarterly for urban areas and annually for rural and urban areas. So while 2017 passed with lack of adequate data to gauge what was happening to jobs, hopefully, 2018 will be different, creating the stage for an informed debate leading to the 2019 general election.

&nbsp;

The government&rsquo;s backpedalling on the jobs issue in 2017 has taken two forms. The first, after several weeks of bad press in mid-2017, BJP President Amit Shah issued a statement that it was not possible to provide formal sector jobs to everyone in a country of 125 crore people so self-employment was the answer. This was a clear admission of failure because it implied that the government did not think its policies were going to create formal jobs in the private sector in adequate numbers. Second, in order to make its performance in job creation seem better, the government proposed redefining what counts as a &ldquo;formal&rdquo; job. If we count all workers who are enrolled in some pension or provident fund scheme as &ldquo;formal&rdquo; then the picture looks better. While this may be understandable as a jobs accounting exercise, it hardly solves the actual problem of disguised unemployment plaguing millions.&nbsp;

&nbsp;

We need to get serious about three distinct issues with regard to the Indian labour market. First, the continued problem of bad, low-paying jobs and disguised unemployment, which is most of our labourforce. Second, the relatively new and fast-growing problem of open unemployment among the educated youth. As a proportion of the total labourforce,&nbsp; this is a small number, but it is a high visibility issue as seen in the large rallies taken out all across India for reservations in government jobs. Third, the question of a low and falling labour force participation rate. Compared to other developing countries, India has a much lower ratio of those employed or seeking work in the population aged 15 and above (53% compared to Indonesia&rsquo;s 66% or China&rsquo;s 69% and the world average of 62%). This is usually explained by withdrawal of women from the labour force due to prosperity or education. But it needs to be investigated further because &ldquo;discouraged workers&rdquo;, those who have given up looking for work, may be a part of the story as well.

&nbsp;

The final and potentially welcome development for this year is that the government is expected to announce a new National Employment Policy in the 2018 Union Budget. One hopes that such a policy will be adequately funded, and even more importantly will signal that the government places the interests of Indian workers before those of international investors or the global market.

&nbsp;

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL).

2017 will be known more as a year of confusion and backpedaling on promises of employment to the millions of youth who enter the labour market each year.

It is safe to say that the issue of job creation was among the top economic issues of 2017, along with demonetisation and GST. And as a long-term issue, its importance definitely exceeds the other two, which though severe are likely to be short-term shocks. Further, riding on the youth vote in 2014, the Narendra Modi government has consistently made jobs its central plank, ensuring that the issue always remains in the news. The year began with the question of whether demonetisation had negatively affected job growth, especially in the informal sector. Unfortunately, like most questions about demonetisation and its impact on the informal economy, this one too suffers from lack of data to answer it. The government has doggedly refused to address the question directly by failing to conduct the necessary surveys at a national level. But anecdotal evidence, as well as survey evidence from a few sectors, does indicate that the severe contraction in economic activity caused by demonetisation did eliminate informal jobs on a large-scale. The long-run question is, however, what it has always been. Can the Indian economy generate employment in the required numbers to provide gainful, meaningful work to the millions of youth who enter the labour market each year? On this, 2017 will be known more as a year of confusion and backpedaling on promises mixed with some welcome developments on the data front. A principal source of confusion has been the term “jobless growth.” Only last week two ex-policymakers argued that “India’s jobless growth is a myth.” Citing Labour Bureau survey data, the authors pointed out that India’s problem is not lack of jobs, but rather lack of “regular, productive, and well-paid jobs.” But this has always been the understanding among all observers of the Indian economy. As I have also consistently pointed out in this column, jobless growth was never about the absence of jobs, it was about the failure of the formal sector to generate decent jobs, forcing the vast majority to work in the informal sector. The question is, why has growth mostly created “bad” jobs. And how can it create more “good” jobs? So it is rather late in the game to be resorting to such denial techniques and using clickbait headlines to boot. Another source of confusion has been the lack of data. The most frequently used NSSO data has been available only every five years. India did not have a large-scale, high-frequency employment data collection system till 2010. The Labour Bureau experimented with annual surveys from 2010 to 2015, but these were not used much by academics or policy-makers for quality as well as availability reasons, and have now been discontinued. Due to lack of reliable, high-frequency employment data, much poorly informed back and forth has been carried out in the op-ed pages. In mid-2017, a task-force was set up under then NITI Aayog Chairperson, Arvind Panagariya to prepare a report on how to improve the country’s employment statistics system. Admitting that the debate “has been taking place in the absence of accurate data or analysis”, the report made recommendations to collect “more reliable, timely and relevant labour market data”. In this respect, a welcome development is that in 2017, the NSSO has started doing a Periodic Labour Force Survey (PLFS). This is an unprecedented (for India) continuous survey that will be conducted quarterly for urban areas and annually for rural and urban areas. So while 2017 passed with lack of adequate data to gauge what was happening to jobs, hopefully, 2018 will be different, creating the stage for an informed debate leading to the 2019 general election. The government’s backpedalling on the jobs issue in 2017 has taken two forms. The first, after several weeks of bad press in mid-2017, BJP President Amit Shah issued a statement that it was not possible to provide formal sector jobs to everyone in a country of 125 crore people so self-employment was the answer. This was a clear admission of failure because it implied that the government did not think its policies were going to create formal jobs in the private sector in adequate numbers. Second, in order to make its performance in job creation seem better, the government proposed redefining what counts as a “formal” job. If we count all workers who are enrolled in some pension or provident fund scheme as “formal” then the picture looks better. While this may be understandable as a jobs accounting exercise, it hardly solves the actual problem of disguised unemployment plaguing millions. We need to get serious about three distinct issues with regard to the Indian labour market. First, the continued problem of bad, low-paying jobs and disguised unemployment, which is most of our labourforce. Second, the relatively new and fast-growing problem of open unemployment among the educated youth. As a proportion of the total labourforce, this is a small number, but it is a high visibility issue as seen in the large rallies taken out all across India for reservations in government jobs. Third, the question of a low and falling labour force participation rate. Compared to other developing countries, India has a much lower ratio of those employed or seeking work in the population aged 15 and above (53% compared to Indonesia’s 66% or China’s 69% and the world average of 62%). This is usually explained by withdrawal of women from the labour force due to prosperity or education. But it needs to be investigated further because “discouraged workers”, those who have given up looking for work, may be a part of the story as well. The final and potentially welcome development for this year is that the government is expected to announce a new National Employment Policy in the 2018 Union Budget. One hopes that such a policy will be adequately funded, and even more importantly will signal that the government places the interests of Indian workers before those of international investors or the global market. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL).

Opinion: Did Demonetisation and GST create jobs in 2017?

The BJP is on course to take Gujarat, and most of Surat with it.&nbsp;

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<blockquote class="twitter-tweet" data-lang="en">
Congratulations to all candidates in Surat for winning 12/12 seats! The people of Gujarat have rejected those who tried to divide us in the name of caste! The vision of Shri <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a> ji &amp; Shri <a href="https://twitter.com/AmitShah?ref_src=twsrc%5Etfw">@amitshah</a> ji will march ahead! <a href="https://twitter.com/hashtag/BJPWinsGujarat?src=hash&amp;ref_src=twsrc%5Etfw">#BJPWinsGujarat</a> <a href="https://twitter.com/hashtag/GujaratVerdict?src=hash&amp;ref_src=twsrc%5Etfw">#GujaratVerdict</a> <a href="https://t.co/JOeQnkWEis">pic.twitter.com/JOeQnkWEis</a>
&mdash; Darshana Jardosh (@DarshanaJardosh) <a href="https://twitter.com/DarshanaJardosh/status/942671566835367936?ref_src=twsrc%5Etfw">December 18, 2017</a></blockquote>
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Surat was being closely watched because of the trader protests there against the GST.&nbsp;

They had not been happy with the Goods and Services Tax.&nbsp;

(It is important to note though that counting is still underway in Surat and the results of all 16 assembly seats in Surat have not yet been declared.)&nbsp;

But the Election Commission, which has declared leads, is at the moment giving the BJP the lead in at least 12 seats in Surat.&nbsp;

Surat is the hub of the baniya or trader community, which makes up 14% of Gujarat&#39;s population.&nbsp;

The protest that really got the BJP&#39;s attention was the one by Surat&#39;s textile traders. Surat is the country&#39;s largest man-made fabric hub.&nbsp;

The BJP was quick to act on the disenchantment.&nbsp;

It cut the GST rate on yarn from 18% to 12%, increased the customs duty on fabric by 25% to curb imports from China, and offered relief in the filing of GST returns.&nbsp;

It also cut the tax rate on khakhra, a popular Gujarati snack, and some namkeens.&nbsp;

And announced a number of relief measures for exporters.&nbsp;

&nbsp;

Surat was being closely watched because of the trader protests there against the GST

The BJP is on course to take Gujarat, and most of Surat with it. Congratulations to all candidates in Surat for winning 12/12 seats! The people of Gujarat have rejected those who tried to divide us in the name of caste! The vision of Shri @narendramodi ji & Shri @amitshah ji will march ahead! #BJPWinsGujarat #GujaratVerdict pic.twitter.com/JOeQnkWEis — Darshana Jardosh (@DarshanaJardosh) December 18, 2017 × Surat was being closely watched because of the trader protests there against the GST. They had not been happy with the Goods and Services Tax. (It is important to note though that counting is still underway in Surat and the results of all 16 assembly seats in Surat have not yet been declared.) But the Election Commission, which has declared leads, is at the moment giving the BJP the lead in at least 12 seats in Surat. Surat is the hub of the baniya or trader community, which makes up 14% of Gujarat's population. The protest that really got the BJP's attention was the one by Surat's textile traders. Surat is the country's largest man-made fabric hub. The BJP was quick to act on the disenchantment. It cut the GST rate on yarn from 18% to 12%, increased the customs duty on fabric by 25% to curb imports from China, and offered relief in the filing of GST returns. It also cut the tax rate on khakhra, a popular Gujarati snack, and some namkeens. And announced a number of relief measures for exporters.

Gujarat election results: Hub of trader protests, BJP on course to winning most seats in Surat

The inter-state e-way bill compliance was approved by the Goods and Services Tax (GST) Council today.

While the inter-state bill will be effective from February 1, the intra-state e-way bill compliance will come into effect on June 1.

E-way bill implementation roadmap was approved by the GST council in its 24th meeting chaired by the Union Finance Minister Arun Jaitley.&nbsp;

The bill will require online registration for movement of goods worth more than Rs. 50,000. The bill will facilitate freight movement by bringing in more transparency in the process.

The state-led trial runs of the bill will begin on January 16 followed by roll-out from February.

&quot;E-way bills would aid India&#39;s logistics ecosystem and will lead to a reduction in pricing of road freight,&quot; ANI reported.&nbsp;

(With inputs from ANI)

&nbsp;

The GST Council approved e-way bill implementation roadmap in its 24th meeting chaired by the Union Finance Minister Arun Jaitley

The inter-state e-way bill compliance was approved by the Goods and Services Tax (GST) Council today. While the inter-state bill will be effective from February 1, the intra-state e-way bill compliance will come into effect on June 1. E-way bill implementation roadmap was approved by the GST council in its 24th meeting chaired by the Union Finance Minister Arun Jaitley. The bill will require online registration for movement of goods worth more than Rs. 50,000. The bill will facilitate freight movement by bringing in more transparency in the process. The state-led trial runs of the bill will begin on January 16 followed by roll-out from February. "E-way bills would aid India's logistics ecosystem and will lead to a reduction in pricing of road freight," ANI reported. (With inputs from ANI)

Inter-state e-way bill compliance gets a nod from GST council

The all-powerful GST Council will meet on Saturday to discuss early implementation of e-way bill as well as ways to plug tax evasion.

Headed by Finance Minister Arun Jaitley, the meeting will be held via video conferencing and deliberate on cementing gaps in the system as well as curbing evasion, sources said.

The meeting assumes importance as there has been Rs 12,000 crore revenue decline in the Goods and Services Tax (GST) in October over the preceding month and tax evasion is considered one of the reasons for this, they said.

This would be the 24th meeting of the Council. The last meeting was held in Guwahati in November where taxes on 178 items were slashed.

In an earlier meeting, the council had decided that e-way bill - an electronic document generated on the GST Network portal - would be introduced in a staggered manner from January 1 and subsequently nation-wide from April 1.

However, the need to review the rollout timeline stems from revenue shortfall registered last month.

The GST revenue for October stood at Rs 83,346 crore, the lowest compared to the first three months since the implementation of GST from July 1. It was significantly down from the September figure of Rs 95,131 crore.

Jaitley had said on Thursday that the council has prepared schedule with regard to e-way bill to check evasion.

&quot;I think Council has already taken decision with regard to time schedule, with regard to e-way bill itself. That will help in enhancing collection,&quot; he had said.

Besides, sources said, invoice matching is also something that the council will deliberate on Saturday.

An e-way bill is required for movement of goods worth more than Rs 50,000. When goods are transported for less than 10 km within the state, the supplier or the transporter need not furnish details on the portal.

&nbsp;

The meeting assumes importance as there has been Rs 12,000 crore revenue decline in the Goods and Services Tax (GST) in October over the preceding month and tax evasion is considered one of the reasons for this, they said.

The all-powerful GST Council will meet on Saturday to discuss early implementation of e-way bill as well as ways to plug tax evasion. Headed by Finance Minister Arun Jaitley, the meeting will be held via video conferencing and deliberate on cementing gaps in the system as well as curbing evasion, sources said. The meeting assumes importance as there has been Rs 12,000 crore revenue decline in the Goods and Services Tax (GST) in October over the preceding month and tax evasion is considered one of the reasons for this, they said. This would be the 24th meeting of the Council. The last meeting was held in Guwahati in November where taxes on 178 items were slashed. In an earlier meeting, the council had decided that e-way bill - an electronic document generated on the GST Network portal - would be introduced in a staggered manner from January 1 and subsequently nation-wide from April 1. However, the need to review the rollout timeline stems from revenue shortfall registered last month. The GST revenue for October stood at Rs 83,346 crore, the lowest compared to the first three months since the implementation of GST from July 1. It was significantly down from the September figure of Rs 95,131 crore. Jaitley had said on Thursday that the council has prepared schedule with regard to e-way bill to check evasion. "I think Council has already taken decision with regard to time schedule, with regard to e-way bill itself. That will help in enhancing collection," he had said. Besides, sources said, invoice matching is also something that the council will deliberate on Saturday. An e-way bill is required for movement of goods worth more than Rs 50,000. When goods are transported for less than 10 km within the state, the supplier or the transporter need not furnish details on the portal.

GST Council to meet on Saturday; discuss roll out of e-way bill

Each time you watched Rahul Gandhi take to the stage during his Gujarat election campaigns and explain before a waiting crowd that the GST is nothing but &#39;Gabbar Singh Tax&#39;, you must have wondered what&#39;s wrong with the man. You must have got curious to know which school Rahul Gandhi got his economics lessons from.

However, let me tell you he is perfectly all right and that he is got his lessons from the best school of a politician - the dusty by-lanes of Indian politics.

Politics is all about reaching out to the masses and making an everlasting connect with them; it&#39;s a bonding made stronger with deft communication, apt vocabulary and noisy rhetoric. The greater your ability to connect with the rank and file of the profanum vulgus, the better is your chances in politics. Add a bit of theatrics and voila! You&#39;ve got what it takes.

After 17 or so defeats in successive elections, Rahul Gandhi now seems to have learnt the ropes. Many political observers and analysts believe that Rahul has found his tongue. He&#39;s discovered the art of communication, at least to the best of his limitations. &#39;Gabbar Singh Tax&#39; serves the best example.

GST brought with it two &#39;miseries&#39; to the common people; the first, disruption in normal economic activities of the small traders and second, complexities. Close on the heels of demonetisation, GST brought another commotion in the life of the common man, especially small traders and businessmen. They&#39;ve their experiences to believe GST is bad but the government has its data to prove it&#39;s good. In the scenario, a clever politician knows that theoretically speaking, GST can&#39;t be opposed. It can be defeated only through canards and polemics.

A polemic of lies and derision is the best anecdote to constructive ideas.

&#39;Gabbar Singh Tax&#39; invented that polemic of lies which the disgruntled aam aadmi was looking for and Rahul Gandhi made the most of it. The masses were exhilarated at the description. Each time Gandhi twisted the microphone and uttered the phrase &#39;Gabbar Singh Tax&#39;, the crowd went berserk in jubilation. He knew he had given expression to the anger of the millions. He didn&#39;t know himself what it exactly meant. He need not, either. His job was done.

No amount of pedantic discourse or academic description can destroy the effects of a &#39;Gabbar Singh Tax&#39; narrative. Today, no one remembers what Arun Jaitley said to counter the Gabbar Singh jibe, though he said all those academically correct things. Yet, people only remember what Rahul said. And that&#39;s the art of making a connect.

A good many people are disenchanted in some way or other and a section of media has worked overtime to prove that the government policies are anti-people. Mainstreaming the cash economy and forcing people to live in transparent glasshouses has its own challenges.

The political wisdom says a politician must use the situation to the best of his abilities. Hence, the Congress has exploited the disenchantment of the masses to the best of its ability and fed on the ignorance of the people. Gandhi knows that the aam aadmi, like him, has no appetite for facts or analysis nor it believes in lengthy explanations. The common man needs off-the-shelf concepts, and few catchphrases, to describe his pent up emotions. The &#39;Gabbar Singh Tax&#39;, fits the bill precisely. In this political campaign, the government hit the hustings with facts, figures and analysis and it lost audience. The Congress hit the campaign with polemic and lies and it struck an instant chord with the masses. The media, always hungry for the catchphrases, multiplied the effect.

In the post-truth politics, what matters more is perception and catchphrases do wonderful jobs in shaping perception. It may be a lie or bullshit is another matter. Politics, anyway, is never about teaching the truth. Nor it&#39;s about accountability. Misleading the masses is intelligent so long it fetches votes. And, Gandhi needs votes.

So, you thought &#39;Gabbar Singh Tax&#39; is a sheer bullshit. But then you thought of university economics. For politics, &#39;Gabbar Singh Tax&#39; is an intelligent theorem. It fetches votes. As I said earlier, economics is the best means to harness politics. Hence, no wonder if the &#39;Gabbar Singh Tax&#39; catchphrase enables the Congress and its new chief recover some of the lost grounds in Gujarat.

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Each time you watched Rahul Gandhi take to the stage during his Gujarat election campaigns and explain before a waiting crowd that the GST is nothing but 'Gabbar Singh Tax', you must have wondered what's wrong with the man.

Each time you watched Rahul Gandhi take to the stage during his Gujarat election campaigns and explain before a waiting crowd that the GST is nothing but 'Gabbar Singh Tax', you must have wondered what's wrong with the man. You must have got curious to know which school Rahul Gandhi got his economics lessons from. However, let me tell you he is perfectly all right and that he is got his lessons from the best school of a politician - the dusty by-lanes of Indian politics. Politics is all about reaching out to the masses and making an everlasting connect with them; it's a bonding made stronger with deft communication, apt vocabulary and noisy rhetoric. The greater your ability to connect with the rank and file of the profanum vulgus, the better is your chances in politics. Add a bit of theatrics and voila! You've got what it takes. After 17 or so defeats in successive elections, Rahul Gandhi now seems to have learnt the ropes. Many political observers and analysts believe that Rahul has found his tongue. He's discovered the art of communication, at least to the best of his limitations. 'Gabbar Singh Tax' serves the best example. GST brought with it two 'miseries' to the common people; the first, disruption in normal economic activities of the small traders and second, complexities. Close on the heels of demonetisation, GST brought another commotion in the life of the common man, especially small traders and businessmen. They've their experiences to believe GST is bad but the government has its data to prove it's good. In the scenario, a clever politician knows that theoretically speaking, GST can't be opposed. It can be defeated only through canards and polemics. A polemic of lies and derision is the best anecdote to constructive ideas. 'Gabbar Singh Tax' invented that polemic of lies which the disgruntled aam aadmi was looking for and Rahul Gandhi made the most of it. The masses were exhilarated at the description. Each time Gandhi twisted the microphone and uttered the phrase 'Gabbar Singh Tax', the crowd went berserk in jubilation. He knew he had given expression to the anger of the millions. He didn't know himself what it exactly meant. He need not, either. His job was done. No amount of pedantic discourse or academic description can destroy the effects of a 'Gabbar Singh Tax' narrative. Today, no one remembers what Arun Jaitley said to counter the Gabbar Singh jibe, though he said all those academically correct things. Yet, people only remember what Rahul said. And that's the art of making a connect. A good many people are disenchanted in some way or other and a section of media has worked overtime to prove that the government policies are anti-people. Mainstreaming the cash economy and forcing people to live in transparent glasshouses has its own challenges. The political wisdom says a politician must use the situation to the best of his abilities. Hence, the Congress has exploited the disenchantment of the masses to the best of its ability and fed on the ignorance of the people. Gandhi knows that the aam aadmi, like him, has no appetite for facts or analysis nor it believes in lengthy explanations. The common man needs off-the-shelf concepts, and few catchphrases, to describe his pent up emotions. The 'Gabbar Singh Tax', fits the bill precisely. In this political campaign, the government hit the hustings with facts, figures and analysis and it lost audience. The Congress hit the campaign with polemic and lies and it struck an instant chord with the masses. The media, always hungry for the catchphrases, multiplied the effect. In the post-truth politics, what matters more is perception and catchphrases do wonderful jobs in shaping perception. It may be a lie or bullshit is another matter. Politics, anyway, is never about teaching the truth. Nor it's about accountability. Misleading the masses is intelligent so long it fetches votes. And, Gandhi needs votes. So, you thought 'Gabbar Singh Tax' is a sheer bullshit. But then you thought of university economics. For politics, 'Gabbar Singh Tax' is an intelligent theorem. It fetches votes. As I said earlier, economics is the best means to harness politics. Hence, no wonder if the 'Gabbar Singh Tax' catchphrase enables the Congress and its new chief recover some of the lost grounds in Gujarat. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Opinion: Anatomy of the 'Gabbar Singh Tax'

The Central Statistics Office (CSO) today released India&#39;s second-quarter Gross Domestic Product(GDP) figures pegging it at&nbsp;6.3 per cent for the second quarter in July to September period.

Major gains were seen in mining and manufacturing sectors.

&quot;GDP growth has recovered to 6.3% in Q2 from a 3-year low of 5.7% in Q1,&quot; TCA Anant, chief statistician said.

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Government&rsquo;s reforms to push economic growth are working can be seen from that manufacturing has shown robust growth of 7% in Q2 and services at 7.1%. Gross fixed capital formation has increased from 1.6% in Q1 to 4.7% in Q2.
&mdash; Arun Jaitley (@arunjaitley) <a href="https://twitter.com/arunjaitley/status/936221297297653760?ref_src=twsrc%5Etfw">November 30, 2017</a></blockquote>
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India&#39;s GDP figure was at a thirteen-quarter low at 5.7 for the period of April-June.

Earlier, India&#39;s finance minister Arun Jaitley speaking at a seminar had said achieving a 10 per cent GDP growth rate &quot;would be challenging&quot; and will depend on how the world is moving.

India intends to follow the glide path as far as the fiscal deficit, the finance minister had said.

NITI Aayog vice-chairman Rajiv Kumar had said Indian economy during July-September period is likely to grow at 6.2 to 6.3 per cent.&nbsp;

GDP is&nbsp;the value of all goods and services produced over a specific period and is one of the indicators of the health of an economy.

NITI Aayog vice-chairman Rajiv Kumar had said Indian economy during July-September period is likely to grow at 6.2 to 6.3 per cent

The Central Statistics Office (CSO) today released India's second-quarter Gross Domestic Product(GDP) figures pegging it at 6.3 per cent for the second quarter in July to September period. Major gains were seen in mining and manufacturing sectors. "GDP growth has recovered to 6.3% in Q2 from a 3-year low of 5.7% in Q1," TCA Anant, chief statistician said. Government’s reforms to push economic growth are working can be seen from that manufacturing has shown robust growth of 7% in Q2 and services at 7.1%. Gross fixed capital formation has increased from 1.6% in Q1 to 4.7% in Q2. — Arun Jaitley (@arunjaitley) November 30, 2017 × India's GDP figure was at a thirteen-quarter low at 5.7 for the period of April-June. Earlier, India's finance minister Arun Jaitley speaking at a seminar had said achieving a 10 per cent GDP growth rate "would be challenging" and will depend on how the world is moving. India intends to follow the glide path as far as the fiscal deficit, the finance minister had said. NITI Aayog vice-chairman Rajiv Kumar had said Indian economy during July-September period is likely to grow at 6.2 to 6.3 per cent. GDP is the value of all goods and services produced over a specific period and is one of the indicators of the health of an economy.

India's GDP climbs to 6.3 per cent in Q2, recovers from 3-year low

Surat is the heart of diamond industry in India. An industry which remained politically inert in the past suddenly woke up to new tax regime succeeded by demonetisation exercise. Industry supports the reform goal but not the implementation process. Many say that Centre should have surveyed the diamond industry before making new rules for them. 
&nbsp; 
Unlike other industries, diamond sector is workers led industry as skill set remains central to the manufacturing process. On an average, a worker can start from 15,000 rupees and end up making 5 lakh a month all depending upon skill set he possesses. It is this skill set which revolted against demonetisation. Most of the workers preferred cash. It meant less taxes and no compliance. Owners were left baffled and sore. Many workers changed their master leading to closures. Those who could manage the cash retained the best and those who couldn&rsquo;t had to stop work on the floor. An industry where workers choose the owners, demonetisation tested the resolve of the owners to keep the talent in their nest. 
&nbsp; 
&ldquo;For the first-time owner worker conflict erupted in our industry. It was unprecedented. We had to run from pillar to post to manage the business,&rdquo; said Dinesh Navadiya, known diamond merchant. 
&nbsp; 
The workers had to be convinced of the benefits of the measure Prime Minister had undertaken. The mindset changed very slowly. Most of the workers come from rural areas with no personal history of banking. It also meant they had no knowledge of paperwork required for opening a bank account. With money going through the banking system and papers in place, they became eligible for loans. Many applied for Awas Yojans schemes too. It eventually benefitted them. 
&nbsp; 
But heartburn remains. Many owners privately admit that government banks did a bad job during demonetisation. &ldquo;Private banks did a better job. Infrastructure should have been in place for demonetisation,&rdquo; said Dinesh Navadiya. 
&nbsp; 
Surat&rsquo;s diamond industry is the processing centre of the precious stones in India. It imports 100 per cent of the raw material and exports 94 per cent of it. Only 6 per cent of the polished diamonds are sold domestically. It also does not enjoy a high profit margin. At maximum owners enjoy profit margins between 1 to 2 per cent. 
&nbsp; 
The pinch increased after GST. Unlike demonetisation whose effect was temporary, GST changed the way industry operated. It understood its benefits but was appalled at its implementation. It was this shock which provided muscle to the Congress in South Gujarat. 
&nbsp; 
Textile sector was even hit harder. Demonetisation had decreased their sales in the rural areas shrinking both production and consumption leading to jobless in small and medium scale industry. It was this combined resentment which streets witnessed in succeeding months. Diamond industry escaped the full wrath of GST as it was only manufacturing locally and exporting abroad whereas Textile Industry was not only manufacturing locally but also traded the rural areas where economy entirely depended on the cash. 
&nbsp; 
Even then there are major irritants. Industry wants B2B form to be done away with. It allows the government to impose interstate GST when goods are moved from one state to another independent of whether they are being sold or not. Traders crib that it adds to the cost. They argue that two other biggest hubs of diamond manufacturing, Israel and Belgium do not have such limitations. Traders also want 3 per cent GST done away on local consumption. On an average 25 per cent of the material has to be moved locally for processing and polishing because every owner doesn&rsquo;t possess all the high skill set workers. For example, if the import has a stock of 20 per cent of raw diamond which can only be shaped in oval and the owner has masters of squares and circle, the rest has to be processed in someone else&rsquo;s unit. On this government decided to levy 3 percent tax. Traders find it very unfair. With low percentage of profit, it adds to the cost. 
&nbsp; 
More than paper work adjustment, industry&rsquo;s major battle is with attitude. It is about compliance and taxation. Most of the owners are willing to give their share of Provident Fund and Employee Welfare Fund but the workers aren&rsquo;t. Many say that it becomes difficult to impose such policies on workers as they tend to move away. 
&nbsp; 
Though no one denies that GST has opened the gates for new export schemes, subsidies for machinery and better-priced loans but attitudes are a slow change. Implementation does remain a concern but they want the government to remember that it is a small and medium industry which generates jobs for a big chunk of Indian population and their convenience must be kept in mind. 
&nbsp; 
Modi has taken a risk to implement GST but no reforms are without risk. The results will show whether economic issues will remain on top or Gujarati asmita appropriated by Modi. Jury is still out on it.

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

The Surat diamond industry which remained politically inert in the past suddenly woke up to new tax regime succeeded by demonetisation exercise

Surat is the heart of diamond industry in India. An industry which remained politically inert in the past suddenly woke up to new tax regime succeeded by demonetisation exercise. Industry supports the reform goal but not the implementation process. Many say that Centre should have surveyed the diamond industry before making new rules for them. Unlike other industries, diamond sector is workers led industry as skill set remains central to the manufacturing process. On an average, a worker can start from 15,000 rupees and end up making 5 lakh a month all depending upon skill set he possesses. It is this skill set which revolted against demonetisation. Most of the workers preferred cash. It meant less taxes and no compliance. Owners were left baffled and sore. Many workers changed their master leading to closures. Those who could manage the cash retained the best and those who couldn’t had to stop work on the floor. An industry where workers choose the owners, demonetisation tested the resolve of the owners to keep the talent in their nest. “For the first-time owner worker conflict erupted in our industry. It was unprecedented. We had to run from pillar to post to manage the business,” said Dinesh Navadiya, known diamond merchant. The workers had to be convinced of the benefits of the measure Prime Minister had undertaken. The mindset changed very slowly. Most of the workers come from rural areas with no personal history of banking. It also meant they had no knowledge of paperwork required for opening a bank account. With money going through the banking system and papers in place, they became eligible for loans. Many applied for Awas Yojans schemes too. It eventually benefitted them. But heartburn remains. Many owners privately admit that government banks did a bad job during demonetisation. “Private banks did a better job. Infrastructure should have been in place for demonetisation,” said Dinesh Navadiya. Surat’s diamond industry is the processing centre of the precious stones in India. It imports 100 per cent of the raw material and exports 94 per cent of it. Only 6 per cent of the polished diamonds are sold domestically. It also does not enjoy a high profit margin. At maximum owners enjoy profit margins between 1 to 2 per cent. The pinch increased after GST. Unlike demonetisation whose effect was temporary, GST changed the way industry operated. It understood its benefits but was appalled at its implementation. It was this shock which provided muscle to the Congress in South Gujarat. Textile sector was even hit harder. Demonetisation had decreased their sales in the rural areas shrinking both production and consumption leading to jobless in small and medium scale industry. It was this combined resentment which streets witnessed in succeeding months. Diamond industry escaped the full wrath of GST as it was only manufacturing locally and exporting abroad whereas Textile Industry was not only manufacturing locally but also traded the rural areas where economy entirely depended on the cash. Even then there are major irritants. Industry wants B2B form to be done away with. It allows the government to impose interstate GST when goods are moved from one state to another independent of whether they are being sold or not. Traders crib that it adds to the cost. They argue that two other biggest hubs of diamond manufacturing, Israel and Belgium do not have such limitations. Traders also want 3 per cent GST done away on local consumption. On an average 25 per cent of the material has to be moved locally for processing and polishing because every owner doesn’t possess all the high skill set workers. For example, if the import has a stock of 20 per cent of raw diamond which can only be shaped in oval and the owner has masters of squares and circle, the rest has to be processed in someone else’s unit. On this government decided to levy 3 percent tax. Traders find it very unfair. With low percentage of profit, it adds to the cost. More than paper work adjustment, industry’s major battle is with attitude. It is about compliance and taxation. Most of the owners are willing to give their share of Provident Fund and Employee Welfare Fund but the workers aren’t. Many say that it becomes difficult to impose such policies on workers as they tend to move away. Though no one denies that GST has opened the gates for new export schemes, subsidies for machinery and better-priced loans but attitudes are a slow change. Implementation does remain a concern but they want the government to remember that it is a small and medium industry which generates jobs for a big chunk of Indian population and their convenience must be kept in mind. Modi has taken a risk to implement GST but no reforms are without risk. The results will show whether economic issues will remain on top or Gujarati asmita appropriated by Modi. Jury is still out on it.

Diamonds are forever: Inside Surat's diamond industry

GST collections fell over 9% in the month of October.&nbsp;

Data put out by the government said GST collections fell to Rs 83,346 crore in October from over Rs 90,000 crore in each of the first three months since the tax was rolled out on July 1.&nbsp;&nbsp;

A finance ministry statement said the lower collections were because of the release of state and central GST from integrated GST (IGST), GST rate cuts, and the payment of GST based on self-declared tax returns.&nbsp;

News reports quoted industry sources as saying GST taxpayers may have expected the rate cuts and could therefore have &quot;staggered&quot; despatches to take advantage of the cuts.

GST collections&nbsp;date released by the government on Monday revealed that 95.9 lakh taxpayers had registered under GST till now and 50.1 lakh had filed returns in October till November 26, while 15.1 lakh were composition dealers who have been allowed to file returns on a quarterly basis. 
&nbsp;

Data put out by the government said GST collections fell to Rs 83,346 crore in October from over Rs 90,000 crore in each of the first three months since the tax was rolled out on July 1

GST collections fell over 9% in the month of October. Data put out by the government said GST collections fell to Rs 83,346 crore in October from over Rs 90,000 crore in each of the first three months since the tax was rolled out on July 1. A finance ministry statement said the lower collections were because of the release of state and central GST from integrated GST (IGST), GST rate cuts, and the payment of GST based on self-declared tax returns. News reports quoted industry sources as saying GST taxpayers may have expected the rate cuts and could therefore have "staggered" despatches to take advantage of the cuts. GST collections date released by the government on Monday revealed that 95.9 lakh taxpayers had registered under GST till now and 50.1 lakh had filed returns in October till November 26, while 15.1 lakh were composition dealers who have been allowed to file returns on a quarterly basis.

GST collections fall over 9% in October

<a href="http://www.wionews.com/india-news/hafiz-saeed-files-petition-in-un-to-remove-terrorist-tag-25302">Hafiz Saeed files petition in UN to drop terrorist tag</a>

Lashkar-e-Taiba (LeT) co-founder and Jamaat-ud-Dawa (JuD) chief Hafiz Saeed has filed a petition in the United Nations to remove him from the list of designated terrorist, news reports said Tuesday.&nbsp;Saeed was put on the UN terror list on&nbsp;December 10, 2008, a few days after the November 26 attacks on Mumbai which claimed 166 lives.

<a href="http://www.wionews.com/india-news/ivanka-trump-arrives-in-hyderabad-to-addressing-the-global-entrepreneurship-summit-ges-25300">Ivanka arrives in India, will inaugurate Global Entrepreneurship Summit with PM Modi today</a>

The United States President Donald Trump&#39;s daughter and advisor Ivanka Trump arrived at Rajiv Gandhi International Airport in Hyderabad early Tuesday morning. 
Ivanka will be inaugurating and addressing the Global Entrepreneurship Summit (GES) in Hyderabad today.

<a href="http://www.wionews.com/world/trump-cracks-pocahontas-joke-while-hosting-native-americans-25296">Trump cracks Pocahontas &#39;joke&#39; while hosting Native Americans</a>

Trump called a Democratic rival &quot;Pocahantas&quot; while hosting Native Americans veterans at the White House Monday. The Native Americans had been &quot;wind talkers&quot; -- Navajo Indians who helped keep Allied operations secret during World War II.&nbsp;

<a href="http://www.wionews.com/world/indonesian-authorities-extend-bali-airport-closure-over-volcanic-ash-25298">Bali airport closed for </a><a href="http://www.wionews.com/world/indonesian-authorities-extend-bali-airport-closure-over-volcanic-ash-25298">second</a><a href="http://www.wionews.com/world/indonesian-authorities-extend-bali-airport-closure-over-volcanic-ash-25298"> day over fears of volcano eruption</a>

Indonesian authorities on Tuesday extended the closure of the international airport on the resort island of Bali for a second day over fears of a volcanic eruption. Bali&#39;s Ngurah Rai airport will remain closed until at least Wednesday morning local time.&nbsp;

<a href="http://www.wionews.com/business-economy/gst-collections-fall-over-9-in-october-25303">GST collections fall over 9% in October</a>

Data put out by the government said GST collections fell to Rs 83,346 crore in October from over Rs 90,000 crore in each of the first three months since the tax was rolled out on July 1. &nbsp;

Hafiz Saeed files petition in UN to drop terrorist tag Lashkar-e-Taiba (LeT) co-founder and Jamaat-ud-Dawa (JuD) chief Hafiz Saeed has filed a petition in the United Nations to remove him from the list of designated terrorist, news reports said Tuesday. Saeed was put on the UN terror list on December 10, 2008, a few days after the November 26 attacks on Mumbai which claimed 166 lives. Ivanka arrives in India, will inaugurate Global Entrepreneurship Summit with PM Modi today The United States President Donald Trump's daughter and advisor Ivanka Trump arrived at Rajiv Gandhi International Airport in Hyderabad early Tuesday morning. Ivanka will be inaugurating and addressing the Global Entrepreneurship Summit (GES) in Hyderabad today. Trump cracks Pocahontas 'joke' while hosting Native Americans Trump called a Democratic rival "Pocahantas" while hosting Native Americans veterans at the White House Monday. The Native Americans had been "wind talkers" -- Navajo Indians who helped keep Allied operations secret during World War II. Bali airport closed for second day over fears of volcano eruption Indonesian authorities on Tuesday extended the closure of the international airport on the resort island of Bali for a second day over fears of a volcanic eruption. Bali's Ngurah Rai airport will remain closed until at least Wednesday morning local time. GST collections fall over 9% in October Data put out by the government said GST collections fell to Rs 83,346 crore in October from over Rs 90,000 crore in each of the first three months since the tax was rolled out on July 1.

WION morning news brief, November 28, 2017

Minister of State for the PMO Jitendra Singh spoke with WION&#39;s Kartikeya Sharma about the upcoming Gujarat elections.&nbsp;

Singh said GST had been very well accepted in the trading community, that the BJP&#39;s rallies in Patidar-dominated areas have been big, and that the elections will be a one-sided contest.&nbsp;

How is the BJP positioned in the state elections? The BJP has been in power in Gujarat for 22 years. 
We are comfortable. With each passing day, we are consolidating our position and I can say with confidence that it is going to be a one-sided contest. 
&nbsp; 
How is the BJP dealing with the resentment over GST in the trading community? 
Contrary to the opinion in certain parts, GST has been very well accepted all over the country and Gujarat. Opposition is raking up this issue to provoke the industry and traders but the fact is that they are okay with it. Yes, they have some issues and Finance Ministry is openly receiving the feedback. It is sensitively dealing with the situation. Certain issues related to GST which are primarily procedural in nature will also be addressed. At end of the day, business community knows that their interests are only protected by a BJP government. They will not go for any other option. 
&nbsp; 
A lot of traders in Surat say GST has worked perfectly for big business with a permanent infrastructure but not for small and medium traders? 
These are transitional issues not specific to Surat. These are general issues. These issues too will be taken care off. Business community has confidence in us. 
&nbsp; 
How is your party tackling the Patel issue? They were dedicated BJP voters. 
Mark my word, as Gujarat has been a model for organisational discipline, the state will also send a strong message of the beginning of the end of caste politics in India. It is unfortunate that Congress, which is the oldest party and claims to be a pan-India party, is trying to stoke caste passions for political mileage. They will not succeed. BJP rallies in Patidar-dominated constituencies have been big and phenomenal. 
&nbsp; 
You spoke of the Gujarat development model but the critics say that only big businesses have benefitted. Your response? 
Gujarat went through revolutionary transformation when Narendra Modi was at (the) helm of affairs in the state. It is a case study in its self. Kutch was a desert but today it is an international destination for tourists. Many other states are suffering from (a) power deficit but Gujarat is a power surplus state. 
&nbsp; 
Are you saying that Gujarat can throw up a surprise like the Uttar Pradesh assembly elections? 
As far as we are concerned, we can sense a comfortable win with an improvement in the tally. It may surprise those who have created a perception that BJP is not doing well.

Singh said, contrary to opinion, GST had been very well accepted in Gujarat and the country

Minister of State for the PMO Jitendra Singh spoke with WION's Kartikeya Sharma about the upcoming Gujarat elections. Singh said GST had been very well accepted in the trading community, that the BJP's rallies in Patidar-dominated areas have been big, and that the elections will be a one-sided contest. How is the BJP positioned in the state elections? The BJP has been in power in Gujarat for 22 years. We are comfortable. With each passing day, we are consolidating our position and I can say with confidence that it is going to be a one-sided contest. How is the BJP dealing with the resentment over GST in the trading community? Contrary to the opinion in certain parts, GST has been very well accepted all over the country and Gujarat. Opposition is raking up this issue to provoke the industry and traders but the fact is that they are okay with it. Yes, they have some issues and Finance Ministry is openly receiving the feedback. It is sensitively dealing with the situation. Certain issues related to GST which are primarily procedural in nature will also be addressed. At end of the day, business community knows that their interests are only protected by a BJP government. They will not go for any other option. A lot of traders in Surat say GST has worked perfectly for big business with a permanent infrastructure but not for small and medium traders? These are transitional issues not specific to Surat. These are general issues. These issues too will be taken care off. Business community has confidence in us. How is your party tackling the Patel issue? They were dedicated BJP voters. Mark my word, as Gujarat has been a model for organisational discipline, the state will also send a strong message of the beginning of the end of caste politics in India. It is unfortunate that Congress, which is the oldest party and claims to be a pan-India party, is trying to stoke caste passions for political mileage. They will not succeed. BJP rallies in Patidar-dominated constituencies have been big and phenomenal. You spoke of the Gujarat development model but the critics say that only big businesses have benefitted. Your response? Gujarat went through revolutionary transformation when Narendra Modi was at (the) helm of affairs in the state. It is a case study in its self. Kutch was a desert but today it is an international destination for tourists. Many other states are suffering from (a) power deficit but Gujarat is a power surplus state. Are you saying that Gujarat can throw up a surprise like the Uttar Pradesh assembly elections? As far as we are concerned, we can sense a comfortable win with an improvement in the tally. It may surprise those who have created a perception that BJP is not doing well.

Gujarat elections will be one-sided contest: Union Minister Jitendra Singh tells WION

At a time when New Delhi and other parts of India are struggling to keep its noise and air pollution under permissible limits and extreme temperatures at bay, Belgium based, Deceuninck is eyeing a significant growth in India.

A 100 per cent subsidiary of Deceuninck Belgium, Deceuninck India looks to capitalise on the Government&#39;s housing sector push, has opened its first experiential store in Delhi.

The estimated market for the total door and window sector is around Rs. 15000 crores in India out of which uPVC has about 10 per cent share or roughly around Rs. 1600 crore.

&quot;We have made a significant investment in setting up 35,000 sqft warehouse in Chennai for stocking close to 400 tonnes of UPVC profile with more than 100 tonnes in the foiled finish since we commissioned the facility in 2013. The introduction of GST is a huge benefit to us as our tax costs reduced from earlier slab of 28 percent to 10.3 percent,&quot; said Global CEO Francis VanEeckhout.

&quot;Currently we are at around five per cent of the quality European and Domestic players which is around 30,000 tonnes. In the coming years, this 30,000 tonnes will grow substantially and we look forward to being in the top two. Considering the potential in India market, we expect to achieve multifold growth in next three years,&quot; added VanEeckhout.

&quot;India has a very high potential considering the growth of housing sector in India, implementation of new policies like RERA, GST, lower interest rates, higher disposable income in the mid-high end segment, affordable home sector growing at a fast pace given its infrastructure status and of course better informed, internet-savvy customers of today. Indian consumers gradually understand the necessity of high-quality windows behind the glamorous curtains,&quot; said country manager Deceuninck, Satish Kumar.

Deceuninck, however, plans to be in both the projects and a retail segment in India. the brand has huge experience from our Turkish subsidiary in the renovation and individual homeowner market.

It offers the widest range of products on both platforms - 60mm and 70mm. In addition Lift, n Slide systems and Bi-fold doors systems are also offered ready stock. Currently, Deceuninck has opened their first experiential store in Saket, Delhi and plan to start next in Bengaluru followed by Mumbai or Pune and Hyderabad.

The company aims to roll out a slew of marketing and promotional initiatives for next couples of years. In the next phase, similar experiential stores will be opened up in Bengaluru followed by Mumbai or Pune and Hyderabad.

A 100 per cent subsidiary of Deceuninck Belgium, Deceuninck India looks to capitalize on the Government's housing sector push, has opened its first experiential store in Delhi.

At a time when New Delhi and other parts of India are struggling to keep its noise and air pollution under permissible limits and extreme temperatures at bay, Belgium based, Deceuninck is eyeing a significant growth in India. A 100 per cent subsidiary of Deceuninck Belgium, Deceuninck India looks to capitalise on the Government's housing sector push, has opened its first experiential store in Delhi. The estimated market for the total door and window sector is around Rs. 15000 crores in India out of which uPVC has about 10 per cent share or roughly around Rs. 1600 crore. "We have made a significant investment in setting up 35,000 sqft warehouse in Chennai for stocking close to 400 tonnes of UPVC profile with more than 100 tonnes in the foiled finish since we commissioned the facility in 2013. The introduction of GST is a huge benefit to us as our tax costs reduced from earlier slab of 28 percent to 10.3 percent," said Global CEO Francis VanEeckhout. "Currently we are at around five per cent of the quality European and Domestic players which is around 30,000 tonnes. In the coming years, this 30,000 tonnes will grow substantially and we look forward to being in the top two. Considering the potential in India market, we expect to achieve multifold growth in next three years," added VanEeckhout. "India has a very high potential considering the growth of housing sector in India, implementation of new policies like RERA, GST, lower interest rates, higher disposable income in the mid-high end segment, affordable home sector growing at a fast pace given its infrastructure status and of course better informed, internet-savvy customers of today. Indian consumers gradually understand the necessity of high-quality windows behind the glamorous curtains," said country manager Deceuninck, Satish Kumar. Deceuninck, however, plans to be in both the projects and a retail segment in India. the brand has huge experience from our Turkish subsidiary in the renovation and individual homeowner market. It offers the widest range of products on both platforms - 60mm and 70mm. In addition Lift, n Slide systems and Bi-fold doors systems are also offered ready stock. Currently, Deceuninck has opened their first experiential store in Saket, Delhi and plan to start next in Bengaluru followed by Mumbai or Pune and Hyderabad. The company aims to roll out a slew of marketing and promotional initiatives for next couples of years. In the next phase, similar experiential stores will be opened up in Bengaluru followed by Mumbai or Pune and Hyderabad.

GST has been a big relief for the Indian market: Deceuninck

The ratings agency Moody&#39;s upgraded India&#39;s sovereign credit rating from a BAA3 to a BAA2 on Friday.&nbsp;

The two-rung upgrade came after 13 years.&nbsp;

India was earlier upgraded to a BAA3 in 2004 -- the lowest investment grade.&nbsp;

Moody&#39;s said Friday&#39;s upgrade came about because of the Modi government&#39;s economic and institutional reform.&nbsp;

It cited the Goods and Services Tax, which turns India&#39;s 29 states into a single customs entity.&nbsp;

The GST is expected to push up productivity by removing barriers to inter-state trade.&nbsp;

Moody&#39;s also cited Aadhar, which it is hoped will lead to more effective direct-benefit transfers.&nbsp;

So what will the upgrade bring about?&nbsp;

A credit rating is a barometer of a country&#39;s monetary and regulatory environment.

The higher a country&#39;s rating, the greater the investment in that country should be.&nbsp;

So, simple -- the upgrade should lead to greater FDI inflow into the country.&nbsp;

And greater FDI inflow should lead to a lowering of the cost of capital.&nbsp;

Which in turn should lead to higher growth, since easier access to capital allows companies to borrow and transact more, and therefore grow more.&nbsp;

The upgrade should also push up sentiment in equity markets, thereby pushing up the sensex.&nbsp;&nbsp;

Remember also that the upgrade comes just after ratings agencies Standard &amp; Poor&#39;s and Moody&#39;s downgraded China&#39;s credit rating.&nbsp;

Which means that the money that left China after the downgrade could find its way to India.&nbsp;

The upgrade should lead to greater FDI inflow into the country

The ratings agency Moody's upgraded India's sovereign credit rating from a BAA3 to a BAA2 on Friday. The two-rung upgrade came after 13 years. India was earlier upgraded to a BAA3 in 2004 -- the lowest investment grade. Moody's said Friday's upgrade came about because of the Modi government's economic and institutional reform. It cited the Goods and Services Tax, which turns India's 29 states into a single customs entity. The GST is expected to push up productivity by removing barriers to inter-state trade. Moody's also cited Aadhar, which it is hoped will lead to more effective direct-benefit transfers. So what will the upgrade bring about? A credit rating is a barometer of a country's monetary and regulatory environment. The higher a country's rating, the greater the investment in that country should be. So, simple -- the upgrade should lead to greater FDI inflow into the country. And greater FDI inflow should lead to a lowering of the cost of capital. Which in turn should lead to higher growth, since easier access to capital allows companies to borrow and transact more, and therefore grow more. The upgrade should also push up sentiment in equity markets, thereby pushing up the sensex. Remember also that the upgrade comes just after ratings agencies Standard & Poor's and Moody's downgraded China's credit rating. Which means that the money that left China after the downgrade could find its way to India.

Moody's upgrades India's sovereign credit rating: What does that mean??

Congress President Sonia Gandhi slammed the government Monday for &quot;sabotaging&quot; the winter session&nbsp;of Parliament.

She said the government was sabotaging the session on &quot;flimsy grounds&quot;.&nbsp;

&quot;The Modi government in its arrogance has cast a dark shadow on India&#39;s Parliamentary democracy by sabotaging the Winter session of Parliament on flimsy grounds,&quot; PTI reported Gandhi as saying.&nbsp;&nbsp;

Gandhi also took potshots at the GST and demonetisation.&nbsp;

She said the government had been ill-prepared to implement&nbsp;the Goods and Services Tax, and that demonetisation had &quot;left millions of people suffering&quot;.&nbsp;

Gandhi was speaking at a meeting of the Congress Working Committee.&nbsp;

<a href="http://www.wionews.com/india-news/after-passing-resolution-on-rahul-gandhi-as-party-president-congress-announces-poll-dates-24640" target="_blank">Also </a><a href="http://www.wionews.com/india-news/after-passing-resolution-on-rahul-gandhi-as-party-president-congress-announces-poll-dates-24640" target="_blank">read:</a><a href="http://www.wionews.com/india-news/after-passing-resolution-on-rahul-gandhi-as-party-president-congress-announces-poll-dates-24640" target="_blank">&nbsp;Rahul as Congress president: Party says will hold polls &#39;if necessary&#39;</a>

Gandhi added that the government was&nbsp;&quot;forcefully&quot; trying to change the history of modern India by &quot;erasing contributions&quot; made by India&#39;s first prime minister Jawaharlal Nehru and his daughter Indira Gandhi.&nbsp;

Arun Jaitley responded to Sonia Gandhi&#39;s allegations, saying the Congress too had postponed Parliament sessions because they had coincided with election campaigns.

<a href="http://www.wionews.com/india-news/jaitley-refutes-sonias-charge-of-govt-sabotaging-parl-session-24650" target="_blank">Also read: </a><a href="http://www.wionews.com/india-news/jaitley-refutes-sonias-charge-of-govt-sabotaging-parl-session-24650">Not sabotaging winter session of Parliament, says Arun Jaitley&nbsp;</a>

&quot;It has been a tradition and it has happened several times that Parliament sessions are rescheduled when an election is happening,&quot; Jaitley said.&nbsp;

The winter session of Parliament usually starts from the third week of November and lasts until the third week of December.

This time around, the government is considering a truncated winter session of around 10 days starting from the second week of December. 
&nbsp;

'The Modi government in its arrogance has cast a dark shadow on India's Parliamentary democracy by sabotaging the Winter session of Parliament on flimsy grounds,' Gandhi said?at a meeting of the Congress Working Committee

Congress President Sonia Gandhi slammed the government Monday for "sabotaging" the winter session of Parliament. She said the government was sabotaging the session on "flimsy grounds". "The Modi government in its arrogance has cast a dark shadow on India's Parliamentary democracy by sabotaging the Winter session of Parliament on flimsy grounds," PTI reported Gandhi as saying. Gandhi also took potshots at the GST and demonetisation. She said the government had been ill-prepared to implement the Goods and Services Tax, and that demonetisation had "left millions of people suffering". Gandhi was speaking at a meeting of the Congress Working Committee. Also read: Rahul as Congress president: Party says will hold polls 'if necessary' Gandhi added that the government was "forcefully" trying to change the history of modern India by "erasing contributions" made by India's first prime minister Jawaharlal Nehru and his daughter Indira Gandhi. Arun Jaitley responded to Sonia Gandhi's allegations, saying the Congress too had postponed Parliament sessions because they had coincided with election campaigns. Also read: Not sabotaging winter session of Parliament, says Arun Jaitley "It has been a tradition and it has happened several times that Parliament sessions are rescheduled when an election is happening," Jaitley said. The winter session of Parliament usually starts from the third week of November and lasts until the third week of December. This time around, the government is considering a truncated winter session of around 10 days starting from the second week of December.

Sonia Gandhi says government 'sabotaging' winter session of Parliament

Welcoming Moody&#39;s upgrade of India&#39;s rating, Union finance minister Arun&nbsp;Jaitley said the upgrade is a recognition of structural reforms in the Indian economy.&nbsp;

He further said the upgrade&nbsp;recognises&nbsp;the fiscal prudence that India has committed itself to.&nbsp;

Credit rating agency Moody&#39;s upgraded&nbsp;<a href="http://www.wionews.com/business-economy/moodys-slashes-hong-kong-rating-following-china-cut-16021">India&rsquo;s sovereign ratings to Baa2 from its lowest&nbsp;</a>investment grade (Baa3) for the first time since 2004 Friday.

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<a href="https://twitter.com/hashtag/Moody?src=hash&amp;ref_src=twsrc%5Etfw">#Moody</a>&#39;s upgrade is a recognition of all the structural reforms in the Indian Economy in the past few years.
&mdash; Arun Jaitley (@arunjaitley) <a href="https://twitter.com/arunjaitley/status/931429466915594240?ref_src=twsrc%5Etfw">November 17, 2017</a></blockquote>
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<a href="https://twitter.com/hashtag/Moody?src=hash&amp;ref_src=twsrc%5Etfw">#Moody</a>&#39;s upgrade recognises the fiscal prudence that India has committed itself to.
&mdash; Arun Jaitley (@arunjaitley) <a href="https://twitter.com/arunjaitley/status/931429611723882496?ref_src=twsrc%5Etfw">November 17, 2017</a></blockquote>
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He said the upgrade is the outcome of the positive steps India had taken in the last few years.

And that the steps have helped strengthen the Indian economy.&nbsp;

&quot;A number of structural reforms have taken place which has placed India on a path of high trajectory growth.&quot;

He further&nbsp;said the international recognition&nbsp;will encourage India and make it more determined to follow the path they have set out on.&nbsp;

Talking about demonetisation, he said the move is taking the Indian economy&nbsp;to greater formalisation&nbsp;and digitisation which is now being universally acknowledged.&nbsp;

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The fact that a series of steps including demonetisation, which are now taking Indian economy to a greater formalization and digitization, something which is being universally acknowledged: FM Jaitley
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/931421563361955841?ref_src=twsrc%5Etfw">November 17, 2017</a></blockquote>
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&nbsp;&nbsp;He also responded to the Opposition&#39;s criticism of the government&#39;s handling of the economy:&nbsp;

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Many who had doubts in their minds about India&#39;s reform process would now seriously introspect on their positions itself: Finance Minister Arun Jaitley on Moody&#39;s upgradation of India&#39;s rating <a href="https://t.co/UCHzMHtotz">pic.twitter.com/UCHzMHtotz</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/931422252658180096?ref_src=twsrc%5Etfw">November 17, 2017</a></blockquote>
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In you look at our track record of three years, it has been one of the better records in Indian history as far as fiscal discipline is concerned, and we intend to move on that track: Finance Minister Arun Jaitley <a href="https://t.co/bz6W1uvmUm">pic.twitter.com/bz6W1uvmUm</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/931423391449473024?ref_src=twsrc%5Etfw">November 17, 2017</a></blockquote>
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Also read:&nbsp;<a href="http://www.wionews.com/world/moodys-upgrades-indias-credit-rating-first-time-since-2004-24407" target="_blank">GST will promote productivity, says Moody&#39;s after upgrading India&#39;s credit rating</a>

The upgrade recognises the fiscal prudence India has committed itself to, India's finance minister added

Welcoming Moody's upgrade of India's rating, Union finance minister Arun Jaitley said the upgrade is a recognition of structural reforms in the Indian economy. He further said the upgrade recognises the fiscal prudence that India has committed itself to. Credit rating agency Moody's upgraded India’s sovereign ratings to Baa2 from its lowest investment grade (Baa3) for the first time since 2004 Friday. #Moody's upgrade is a recognition of all the structural reforms in the Indian Economy in the past few years. — Arun Jaitley (@arunjaitley) November 17, 2017 × #Moody's upgrade recognises the fiscal prudence that India has committed itself to. — Arun Jaitley (@arunjaitley) November 17, 2017 × He said the upgrade is the outcome of the positive steps India had taken in the last few years. And that the steps have helped strengthen the Indian economy. "A number of structural reforms have taken place which has placed India on a path of high trajectory growth." He further said the international recognition will encourage India and make it more determined to follow the path they have set out on. Talking about demonetisation, he said the move is taking the Indian economy to greater formalisation and digitisation which is now being universally acknowledged. The fact that a series of steps including demonetisation, which are now taking Indian economy to a greater formalization and digitization, something which is being universally acknowledged: FM Jaitley — ANI (@ANI) November 17, 2017 × He also responded to the Opposition's criticism of the government's handling of the economy: Many who had doubts in their minds about India's reform process would now seriously introspect on their positions itself: Finance Minister Arun Jaitley on Moody's upgradation of India's rating pic.twitter.com/UCHzMHtotz — ANI (@ANI) November 17, 2017 × In you look at our track record of three years, it has been one of the better records in Indian history as far as fiscal discipline is concerned, and we intend to move on that track: Finance Minister Arun Jaitley pic.twitter.com/bz6W1uvmUm — ANI (@ANI) November 17, 2017 × Also read: GST will promote productivity, says Moody's after upgrading India's credit rating

Moody's upgrade is recognition of structural reforms in Indian economy: Arun Jaitley

Credit rating agency Moody&#39;s has upgraded <a href="http://www.wionews.com/business-economy/moodys-slashes-hong-kong-rating-following-china-cut-16021">India&rsquo;s sovereign ratings to Baa2 from its lowest </a>investment grade (Baa3) for the first time since 2004 even as it had downgraded China&#39;s credit ratings for the first time in nearly 30 years recently.

Moody&rsquo;s said the<a href="http://www.wionews.com/business-economy/moodys-india-gdp-growth-rate-will-be-about-75-over-next-two-years-5359"> goods and services tax(GST) will &quot;promote productivity</a> by removing barriers to interstate trade, improvements to the monetary policy framework, measures to clean up non-performing loans, and efforts to bring more areas into the formal economy.&quot;

However, the credit ratings agency added that GST and demonetization had undermined growth in the near term.

&ldquo;The decision to upgrade the ratings is underpinned by Moody&rsquo;s expectation that continued progress on economic and institutional reforms will, over time, enhance India&rsquo;s high growth potential and its large and stable financing base for government debt, and will likely contribute to a gradual decline in the general government debt burden over the medium term,&quot; the credit rating agency said.

Moody&rsquo;s has forecast GDP growth of 6.7 per cent for the fiscal year ended March 2018, with 7.5 per cent in 2019 and &quot;similarly robust&quot; levels from 2019 onward.

&ldquo;However, as disruption fades, assisted by recent government measures to support SMEs and exporters with GST compliance, real GDP growth will rise to 7.5% in FY2018 (2018-19), with similarly robust levels of growth from FY2019 (2019-20) onward. Longer term, India&rsquo;s growth potential is significantly higher than most other Baa-rated sovereigns,&rdquo; it said.

The credit agency also raised India&rsquo;s long-term foreign-currency bond ceiling to Baa1 from Baa2, and the long-term foreign-currency bank deposit ceiling to Baa2 from Baa3.&nbsp;

The short-term foreign-currency bond ceiling remains unchanged at P-2, and the short-term foreign-currency bank deposit ceiling has been raised to P-2 from P-3. The long-term local currency deposit and bond ceilings remain unchanged at A1.

The agency has also upgraded India&rsquo;s local currency senior unsecured rating to Baa2 from Baa3 and its short-term local currency rating to P-2 from P-3.

Moody?s has forecast GDP growth of 6.7 per cent for the fiscal year ended March 2018

Credit rating agency Moody's has upgraded India’s sovereign ratings to Baa2 from its lowest investment grade (Baa3) for the first time since 2004 even as it had downgraded China's credit ratings for the first time in nearly 30 years recently. Moody’s said the goods and services tax(GST) will "promote productivity by removing barriers to interstate trade, improvements to the monetary policy framework, measures to clean up non-performing loans, and efforts to bring more areas into the formal economy." However, the credit ratings agency added that GST and demonetization had undermined growth in the near term. “The decision to upgrade the ratings is underpinned by Moody’s expectation that continued progress on economic and institutional reforms will, over time, enhance India’s high growth potential and its large and stable financing base for government debt, and will likely contribute to a gradual decline in the general government debt burden over the medium term," the credit rating agency said. Moody’s has forecast GDP growth of 6.7 per cent for the fiscal year ended March 2018, with 7.5 per cent in 2019 and "similarly robust" levels from 2019 onward. “However, as disruption fades, assisted by recent government measures to support SMEs and exporters with GST compliance, real GDP growth will rise to 7.5% in FY2018 (2018-19), with similarly robust levels of growth from FY2019 (2019-20) onward. Longer term, India’s growth potential is significantly higher than most other Baa-rated sovereigns,” it said. The credit agency also raised India’s long-term foreign-currency bond ceiling to Baa1 from Baa2, and the long-term foreign-currency bank deposit ceiling to Baa2 from Baa3. The short-term foreign-currency bond ceiling remains unchanged at P-2, and the short-term foreign-currency bank deposit ceiling has been raised to P-2 from P-3. The long-term local currency deposit and bond ceilings remain unchanged at A1. The agency has also upgraded India’s local currency senior unsecured rating to Baa2 from Baa3 and its short-term local currency rating to P-2 from P-3.

GST will promote productivity, says Moody's after upgrading India's credit rating

Veteran actor Christopher Plummer will replace fallen star Kevin Spacey in the Ridley Scott police drama &quot;All the Money in the World,&quot; a source at Sony said on Wednesday.

Spacey&#39;s career is in free fall over sexual assault allegations, the latest of which emerged earlier Wednesday.

&quot;Plummer will swap for Spacey,&quot; as the crew race to reshoot scenes from the film which Sony&#39;s TriStar still plans to release on December 22, the source said.

&quot;They are committed to the 12/22 date, if anyone can pull it off it&#39;s Scott,&quot; the source added, asking for anonymity.

Plummer will now play US millionaire J. Paul Getty in the story about the 1973 kidnapping of his teenage grandson John Paul Getty III.

A Massachusetts mother on Wednesday accused Spacey of sexually assaulting her 18-year-old son on the holiday island of Nantucket last year and said police had opened a criminal investigation.

Police could not confirm or deny any such report was filed but the woman&#39;s accusation is the latest against Spacey, who was dropped last week by Netflix.

He was its star actor in the hit series &quot;House of Cards.&quot;

According to British media, London police are investigating Spacey for an alleged assault in 2008.

He has also been publicly accused of attempting to rape a 15-year-old boy in New York and of making advances on actor Anthony Rapp when he was 14 years old, more than three decades ago.

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The cabinet decision implies that an apex body will now be established to ensure that the benefits of GST rate reduction are passed on to consumers

Veteran actor Christopher Plummer will replace fallen star Kevin Spacey in the Ridley Scott police drama "All the Money in the World," a source at Sony said on Wednesday. Spacey's career is in free fall over sexual assault allegations, the latest of which emerged earlier Wednesday. "Plummer will swap for Spacey," as the crew race to reshoot scenes from the film which Sony's TriStar still plans to release on December 22, the source said. "They are committed to the 12/22 date, if anyone can pull it off it's Scott," the source added, asking for anonymity. Plummer will now play US millionaire J. Paul Getty in the story about the 1973 kidnapping of his teenage grandson John Paul Getty III. A Massachusetts mother on Wednesday accused Spacey of sexually assaulting her 18-year-old son on the holiday island of Nantucket last year and said police had opened a criminal investigation. Police could not confirm or deny any such report was filed but the woman's accusation is the latest against Spacey, who was dropped last week by Netflix. He was its star actor in the hit series "House of Cards." According to British media, London police are investigating Spacey for an alleged assault in 2008. He has also been publicly accused of attempting to rape a 15-year-old boy in New York and of making advances on actor Anthony Rapp when he was 14 years old, more than three decades ago.

GST: Cabinet approves anti-profiteering authority

The benchmark BSE Sensex gained 103 points in early trade, extending gains for the third day on Monday as the government unveiled its new GST rates on Friday evening.

The NSE Nifty was up 11.25 points at 10,333 points.

On Friday, the GST Council had slashed the list of items in the top 28 per cent GST slab to 50 from 228 with the effect clearly seen in the markets on Monday.

As many as 178 items of daily use were shifted from the top tax bracket of 28 per cent to 18 per cent, while a uniform 5 per cent tax was prescribed for all restaurants, except five-star hotels.

&nbsp;M&amp;M, Axis Bank, Hindustan Unilever, TCS, SBI and NTPC, rose&nbsp;by up to 2.10 per cent in early trade.

However, Anil Ambani-controlled Reliance Communications Ltd&#39;s(RCom) shares slumped for the fourth day today after the company posted fourth straight quarterly loss.&nbsp;

RCom shares fell as much as 12.1 per cent in morning trade. 
&nbsp;

The NSE Nifty was up 11.25 points at 10,333 points.

The benchmark BSE Sensex gained 103 points in early trade, extending gains for the third day on Monday as the government unveiled its new GST rates on Friday evening. The NSE Nifty was up 11.25 points at 10,333 points. On Friday, the GST Council had slashed the list of items in the top 28 per cent GST slab to 50 from 228 with the effect clearly seen in the markets on Monday. As many as 178 items of daily use were shifted from the top tax bracket of 28 per cent to 18 per cent, while a uniform 5 per cent tax was prescribed for all restaurants, except five-star hotels. M&M, Axis Bank, Hindustan Unilever, TCS, SBI and NTPC, rose by up to 2.10 per cent in early trade. However, Anil Ambani-controlled Reliance Communications Ltd's(RCom) shares slumped for the fourth day today after the company posted fourth straight quarterly loss. RCom shares fell as much as 12.1 per cent in morning trade.

Sensex rises 103 points, RCom slumps

Union Minister&nbsp;Smriti Irani&nbsp;on Saturday launched a scathing attack on&nbsp;Congress&nbsp;vice-president&nbsp;Rahul Gandhi&nbsp;saying he should give up the hope of winning the Gujarat Assembly polls.

The Union Minister had hit back at Rahul for criticising the Goods and Services tax (GST) implemented by the Bharatiya Janata Party (BJP) led National Democratic Alliance (NDA) at the Centre.

&quot;Rahul is an MP from Amethi Lok Sabha Constituency for the last 13 years and Gandhi-Nehru has ruled the Amethi Constituency for 50 years. He should be worried about the fact that in the Uttar Pradesh elections last year, the Congress could not win a single seat out of his five Vidhan Sabha seats,&quot; she said.

Irani added,&quot;So someone who could not win his five Vidhan Sabha seats, should stop dreaming about winning Gujarat elections. We and the people of Gujarat will not let this dream come true.&quot;

Taking a jibe at the Congress leader for his statement on development in Gujarat, she said, &quot;When Rahul talks of development, he should know that we went to lay the foundation stone of the collector&#39;s office of his constituency.&quot;

&quot;He was not even able to build the collector&#39;s office, provide roads, education, health to his constituency. So on what basis is he talking about development in Gujarat?&quot; she questioned.

The Congress has been critical of GST ever since it was implemented.

&quot;In GST Council meeting, the Congress was also included. All the decisions have been taken till now on the basis of consensus. During the Congress rule, the GST was not passed as the state governments did not have faith in the party. In GST, someone whose annual income is below Rs 20 lakh is already exempted and that means poor are exempted from GST,&quot; Irani opined.

The Congress vice-president had called for structural changes in the uniform tax regime and termed GST as Gabbar Singh Tax.

Speaking at a rally in Gandhinagar, Gandhi said, &quot;It&#39;s a good thing that the BJP government has slashed the tax rate from 28 percent to 18 percent for many products due to the pressure made by the Congress party and the people of India.&quot;

He further said, &quot;We are still not happy and won&#39;t stop here. India doesn&#39;t want five different types of taxes, we want one. There&#39;s a need to make structural changes in the Goods and Services Tax (GST).&quot;

Earlier on Wednesday, while interacting with traders in Gujarat&#39;s Surat, Rahul said that Congress will reassess and restructure the GST, if they come to power at the Centre in the 2019 general elections.

The Congress has been critical of GST ever since it was implemented.

Union Minister Smriti Irani on Saturday launched a scathing attack on Congress vice-president Rahul Gandhi saying he should give up the hope of winning the Gujarat Assembly polls. The Union Minister had hit back at Rahul for criticising the Goods and Services tax (GST) implemented by the Bharatiya Janata Party (BJP) led National Democratic Alliance (NDA) at the Centre. "Rahul is an MP from Amethi Lok Sabha Constituency for the last 13 years and Gandhi-Nehru has ruled the Amethi Constituency for 50 years. He should be worried about the fact that in the Uttar Pradesh elections last year, the Congress could not win a single seat out of his five Vidhan Sabha seats," she said. Irani added,"So someone who could not win his five Vidhan Sabha seats, should stop dreaming about winning Gujarat elections. We and the people of Gujarat will not let this dream come true." Taking a jibe at the Congress leader for his statement on development in Gujarat, she said, "When Rahul talks of development, he should know that we went to lay the foundation stone of the collector's office of his constituency." "He was not even able to build the collector's office, provide roads, education, health to his constituency. So on what basis is he talking about development in Gujarat?" she questioned. The Congress has been critical of GST ever since it was implemented. "In GST Council meeting, the Congress was also included. All the decisions have been taken till now on the basis of consensus. During the Congress rule, the GST was not passed as the state governments did not have faith in the party. In GST, someone whose annual income is below Rs 20 lakh is already exempted and that means poor are exempted from GST," Irani opined. The Congress vice-president had called for structural changes in the uniform tax regime and termed GST as Gabbar Singh Tax. Speaking at a rally in Gandhinagar, Gandhi said, "It's a good thing that the BJP government has slashed the tax rate from 28 percent to 18 percent for many products due to the pressure made by the Congress party and the people of India." He further said, "We are still not happy and won't stop here. India doesn't want five different types of taxes, we want one. There's a need to make structural changes in the Goods and Services Tax (GST)." Earlier on Wednesday, while interacting with traders in Gujarat's Surat, Rahul said that Congress will reassess and restructure the GST, if they come to power at the Centre in the 2019 general elections.

Rahul should stop dreaming about sweeping Gujarat polls: Smriti Irani

Former Finance Minister and Congress leader P&nbsp;Chidambaram on Saturday lashed out at Modi&#39;s government after the government brought down the 28 per cent&nbsp; Goods and Services Tax (GST) slab to just 50 products against earlier&nbsp;227 products.

In a series of tweets, Chidambaram took potshots at Modi government.&nbsp;

&quot;It took four months and ten days for common&nbsp;sense to germinate, flower and ripen into a fruit,&quot; the Congress leader said in the first of several tweets posted on his Twitter handle on Friday.

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4 months and 10 days is the time taken for commonsense to germinate, flower and ripen into a fruit.
&mdash; P. Chidambaram (@PChidambaram_IN) <a href="https://twitter.com/PChidambaram_IN/status/929212211792199680?ref_src=twsrc%5Etfw">November 11, 2017</a></blockquote>
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&quot;Congress is vindicated. I am vindicated. The merit of capping GST at 18 percent is now recognised,&quot; Chidambaram tweeted on Friday.&nbsp;

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Congress is vindicated. I am vindicated. The merit of capping GST at 18% is now recognised.
&mdash; P. Chidambaram (@PChidambaram_IN) <a href="https://twitter.com/PChidambaram_IN/status/929032922916462592?ref_src=twsrc%5Etfw">November 10, 2017</a></blockquote>
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The BJP) government at the Centre realised&nbsp;its mistake as Gujarat Assembly election&nbsp;is around the corner, he further said.

Responding to Chidambaram&#39;s allegations,&nbsp;Defence Minister Nirmala Sitharaman said GST&nbsp;was adopted taking all political parties into consideration and every change that has been made was done after looking into one&#39;s needs.&nbsp;

Congress has just been trying to misinterpret the fact.

&quot;Modiji government listens to everything that public says and respond to people.The GST was implemented with the agreement of all political parties. We are ready if there is a need for any change like the Centre did in yesterday&#39;s GST Council meeting. The Congress party is trying to misinterpret the fact,&quot; new agency ANI quoted&nbsp;Sitharaman as saying.&nbsp;

The rearrangements in the tax system were carried out at the 23rd GST Council meeting headed by the finance minister, at Guwahati on Friday.&nbsp;

Chidambaram also took a dig at Bharatiya Janata Party (BJP) and said that the government has realised their mistake because of the upcoming Gujarat Assembly elections.

Former Finance Minister and Congress leader P Chidambaram on Saturday lashed out at Modi's government after the government brought down the 28 per cent Goods and Services Tax (GST) slab to just 50 products against earlier 227 products. In a series of tweets, Chidambaram took potshots at Modi government. "It took four months and ten days for common sense to germinate, flower and ripen into a fruit," the Congress leader said in the first of several tweets posted on his Twitter handle on Friday. 4 months and 10 days is the time taken for commonsense to germinate, flower and ripen into a fruit. — P. Chidambaram (@PChidambaram_IN) November 11, 2017 × "Congress is vindicated. I am vindicated. The merit of capping GST at 18 percent is now recognised," Chidambaram tweeted on Friday. Congress is vindicated. I am vindicated. The merit of capping GST at 18% is now recognised. — P. Chidambaram (@PChidambaram_IN) November 10, 2017 × The BJP) government at the Centre realised its mistake as Gujarat Assembly election is around the corner, he further said. Responding to Chidambaram's allegations, Defence Minister Nirmala Sitharaman said GST was adopted taking all political parties into consideration and every change that has been made was done after looking into one's needs. Congress has just been trying to misinterpret the fact. "Modiji government listens to everything that public says and respond to people.The GST was implemented with the agreement of all political parties. We are ready if there is a need for any change like the Centre did in yesterday's GST Council meeting. The Congress party is trying to misinterpret the fact," new agency ANI quoted Sitharaman as saying. The rearrangements in the tax system were carried out at the 23rd GST Council meeting headed by the finance minister, at Guwahati on Friday.

It took 4 months for common sense to germinate on GST: Chidambaram

<a href="http://www.wionews.com/world/lebanons-hezbollah-accuses-saudi-of-detaining-hariri-23953" target="_blank">Saudi Arabia holding Lebanon PM, inciting Israel to strike country: Hezbollah</a>

Lebanon`s powerful Hezbollah chief Hassan Nasrallah on Friday accused Saudi Arabia of detaining prime minister Saad Hariri and of asking the Shiite movement`s arch-foe Israel to launch strikes.&nbsp;Hariri`s sudden resignation on November 4 in a statement made from Riyadh took the Lebanese political class by surprise and has sparked international concern.

<a href="http://www.wionews.com/world/us-goalkeeper-accuses-former-fifa-president-of-sexual-harassment-23954" target="_blank">He grabbed my ass: US goalkeeper accuses Sepp Blatter of sexual assault</a>

Hope Solo, the 36-year-old US goalkeeper has accused former FIFA president Sepp Blatter of&nbsp;<a href="http://www.wionews.com/world/actress-portia-de-rossi-accuses-steven-seagal-of-sexual-harassment-23862" target="_blank">sexual harassment</a>. In an interview with Portugal newspaper Expresso, Solo said that Sepp had grabbed her ass.

<a href="http://www.wionews.com/football/world-cup-playoff-sweden-beat-toothless-italy-with-1-0-23955" target="_blank">Football World Cup play-offs: Sweden beat </a><a href="http://www.wionews.com/football/world-cup-playoff-sweden-beat-toothless-italy-with-1-0-23955" target="_blank">lacklustre</a><a href="http://www.wionews.com/football/world-cup-playoff-sweden-beat-toothless-italy-with-1-0-23955" target="_blank"> Italy</a>

A second-half goal by Sweden substitute Jakob Johansson was enough to beat Italy 1-0 and put his side in the driving seat after their World Cup playoff first leg on a chilly night.

<a href="http://www.wionews.com/world/comedian-louis-ck-admits-sexual-misconduct-entertainment-outlets-cut-ties-23950" target="_blank">&#39;These stories are true,&#39; says comedian Louis CK</a>

US&nbsp;comedian Louis C.K. on Friday admitted to&nbsp;<a href="http://www.wionews.com/world/actress-portia-de-rossi-accuses-steven-seagal-of-sexual-harassment-23862" target="_blank">sexual misconduct allegations made against him&nbsp;</a>by several women, and television and film companies moved quickly to sever ties. &quot;These stories are true,&quot; C.K. said in a statement.

<a href="http://www.wionews.com/india-news/heres-what-got-cheaper-after-revised-gst-rates-23947" target="_blank">Revised GST rates: Complete list</a>

&nbsp;

&nbsp;

In the biggest GST rearrangement till date, tax rates on over 200 items were cut down&nbsp;to provide relief to consumers and businesses&nbsp;on Friday.&nbsp;Giving a major reprieve to the common man, the GST Council came up with&nbsp;<a href="http://www.wionews.com/preview/article/23931">a number of new measures.&nbsp;</a>Maximum pruning was done in the 28% slab which will now be applied to only 50 items from 228 earlier. Many of the items and services which were previously under the 28% bracket will now attract a tax of 18% only.&nbsp; 
&nbsp;

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Saudi Arabia holding Lebanon PM, inciting Israel to strike country: Hezbollah Lebanon`s powerful Hezbollah chief Hassan Nasrallah on Friday accused Saudi Arabia of detaining prime minister Saad Hariri and of asking the Shiite movement`s arch-foe Israel to launch strikes. Hariri`s sudden resignation on November 4 in a statement made from Riyadh took the Lebanese political class by surprise and has sparked international concern. He grabbed my ass: US goalkeeper accuses Sepp Blatter of sexual assault Hope Solo, the 36-year-old US goalkeeper has accused former FIFA president Sepp Blatter of sexual harassment. In an interview with Portugal newspaper Expresso, Solo said that Sepp had grabbed her ass. Football World Cup play-offs: Sweden beat lacklustre Italy A second-half goal by Sweden substitute Jakob Johansson was enough to beat Italy 1-0 and put his side in the driving seat after their World Cup playoff first leg on a chilly night. 'These stories are true,' says comedian Louis CK US comedian Louis C.K. on Friday admitted to sexual misconduct allegations made against him by several women, and television and film companies moved quickly to sever ties. "These stories are true," C.K. said in a statement. Revised GST rates: Complete list In the biggest GST rearrangement till date, tax rates on over 200 items were cut down to provide relief to consumers and businesses on Friday. Giving a major reprieve to the common man, the GST Council came up with a number of new measures. Maximum pruning was done in the 28% slab which will now be applied to only 50 items from 228 earlier. Many of the items and services which were previously under the 28% bracket will now attract a tax of 18% only.

WION Morning news brief, November 11, 2017: 5 stories

Congress Vice President Rahul Gandhi&nbsp;made some promising comments while addressing people in Khedbrahma, Sabarkantha on Saturday.&nbsp;

He took a jab at Modi&#39;s government yet again and said that &#39;as soon as his government comes to power, he promises to bring down&nbsp;&#39;Gabbar Singh Tax&#39; (GST), bring a sound GST so that no one will have to pay anything over 18% tax&#39;.&nbsp;

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As soon as Congress comes to the power, we will bring down Gabbar Singh Tax, bring a sound GST so that no one will have to pay anything above 18% tax.: Congress Vice President Rahul Gandhi in Khedbrahma, Sabarkantha <a href="https://twitter.com/hashtag/Gujarat?src=hash&amp;ref_src=twsrc%5Etfw">#Gujarat</a> <a href="https://t.co/xub6Oo3d7l">pic.twitter.com/xub6Oo3d7l</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/929333658137214977?ref_src=twsrc%5Etfw">November 11, 2017</a></blockquote>
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Gandhi further stated that &#39;this is the highest unemployment rate in 8 years&#39;.

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This phase marks the highest number of unemployment in 8 years: Congress Vice President Rahul Gandhi in Khedbrahma, Sabarkantha <a href="https://twitter.com/hashtag/Gujarat?src=hash&amp;ref_src=twsrc%5Etfw">#Gujarat</a> <a href="https://t.co/NAKpN2P8F3">pic.twitter.com/NAKpN2P8F3</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/929331099452313607?ref_src=twsrc%5Etfw">November 11, 2017</a></blockquote>
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The Congress leader has previously taken many hits at Modi&#39;s government, suggesting them to impose a &#39;simple tax&#39; rather than &#39;Gabbar Singh Tax&#39; and how the recent rearrangement in GST is going to cause a slowdown for small and medium businesses.&nbsp;

Moreover,&nbsp;Congress, on Saturday, also&nbsp;<a href="http://www.wionews.com/preview/article/23995">claimed credit for the the GST Council&#39;s decision to cut tax rates on 178 items of daily use</a>, saying the government was forced to do so due to the pressure mounted by party vice-president Rahul Gandhi and the &#39;huge response&#39;&nbsp;his campaign had been receiving in poll-bound Gujarat.

Gandhi further stated that 'this is the highest unemployment rate in 8 years'.

Congress Vice President Rahul Gandhi made some promising comments while addressing people in Khedbrahma, Sabarkantha on Saturday. He took a jab at Modi's government yet again and said that 'as soon as his government comes to power, he promises to bring down 'Gabbar Singh Tax' (GST), bring a sound GST so that no one will have to pay anything over 18% tax'. As soon as Congress comes to the power, we will bring down Gabbar Singh Tax, bring a sound GST so that no one will have to pay anything above 18% tax.: Congress Vice President Rahul Gandhi in Khedbrahma, Sabarkantha #Gujarat pic.twitter.com/xub6Oo3d7l — ANI (@ANI) November 11, 2017 × Gandhi further stated that 'this is the highest unemployment rate in 8 years'. This phase marks the highest number of unemployment in 8 years: Congress Vice President Rahul Gandhi in Khedbrahma, Sabarkantha #Gujarat pic.twitter.com/NAKpN2P8F3 — ANI (@ANI) November 11, 2017 × The Congress leader has previously taken many hits at Modi's government, suggesting them to impose a 'simple tax' rather than 'Gabbar Singh Tax' and how the recent rearrangement in GST is going to cause a slowdown for small and medium businesses. Moreover, Congress, on Saturday, also claimed credit for the the GST Council's decision to cut tax rates on 178 items of daily use, saying the government was forced to do so due to the pressure mounted by party vice-president Rahul Gandhi and the 'huge response' his campaign had been receiving in poll-bound Gujarat.

Will bring down GST if Congress comes to power, says Rahul Gandhi

With the GST Council meeting underway, <a href="http://www.wionews.com/india-news/gst-on-over-200-daily-use-items-expected-to-fall-sushil-modi-23850">Bihar deputy chief minister Sushil Kumar that at least 227 items</a> were there in 28% GST slab, now only 50 remain, which are mostly luxury items, rest have been put in the 18% bracket.

Himanta Biswa Sarma, <a href="http://www.wionews.com/india-news/does-congress-want-to-make-bmws-mercedes-cheaper-jaitley-22889">Assam finance minister added that GST meeting</a> will be &quot;path-breaking with many crucial decisions in favour of traders, manufacturers and consumers.&quot;

The GST council meeting being held today is set to take crucial decisions including extending sops to small traders and businesses.

Earlier, finance minister Arun Jaitley had defended the multiple slabs under the Goods and Services Tax.&nbsp;

The GST -- which was meant to replace India&#39;s myriad indirect taxes with one single tax -- has come under severe criticism.

Jaitley said that bringing everything under 18% GST would help those buying luxury items.&nbsp;

The GST council meeting being held today is set to take crucial decisions including extending sops to small traders and businesses.

With the GST Council meeting underway, Bihar deputy chief minister Sushil Kumar that at least 227 items were there in 28% GST slab, now only 50 remain, which are mostly luxury items, rest have been put in the 18% bracket. Himanta Biswa Sarma, Assam finance minister added that GST meeting will be "path-breaking with many crucial decisions in favour of traders, manufacturers and consumers." The GST council meeting being held today is set to take crucial decisions including extending sops to small traders and businesses. Earlier, finance minister Arun Jaitley had defended the multiple slabs under the Goods and Services Tax. The GST -- which was meant to replace India's myriad indirect taxes with one single tax -- has come under severe criticism. Jaitley said that bringing everything under 18% GST would help those buying luxury items.

227 items were in 28% GST slab, now only 50 remain: Bihar deputy chief Sushil Kumar

In the biggest GST rearrangement till date, tax rates on over 200 items were cut down&nbsp;to provide relief to consumers and businesses&nbsp;on Friday.&nbsp;

Giving a major reprieve to the common man, the GST Council came up with <a href="http://www.wionews.com/preview/article/23931">a number of new measures.&nbsp;</a>

Maximum pruning was done in the 28% slab which will now be applied on only 50 items from 228 earlier. &nbsp;

Many of the items and services which were previously under the 28% bracket will now attract tax of 18% only.&nbsp; 
&nbsp;

Following is a&nbsp;list of all the items under&nbsp;the&nbsp;tax slabs:

<ins>Items under GST rate reduced from 28% to 18%&nbsp;</ins>

Wire, cables, insulated conductors, electrical insulators, electrical plugs, switches, sockets, fuses, relays, electrical connectors 
Electrical boards, panels, consoles, cabinets etc for electric control or distribution 
Particle/fibre boards and ply wood. Article of wood, wooden frame, paving block 
Furniture, mattress, bedding and similar furnishing 
Trunk, suitcase, vanity cases, brief cases, travelling bags and other hand bags, cases 
Detergents, washing and cleaning preparations 
Liquid or cream for washing the skin 
Shampoos; Hair cream, Hair dyes (natural, herbal or synthetic) and similar other goods; henna powder or paste, not mixed with any other ingredient; 
Pre-shave, shaving or after-shave preparations, personal deodorants, bath preparations, perfumery, cosmetic or toilet preparations, room deodorisers 
Perfumes and toilet waters 
Beauty or make-up preparations 
Fans, pumps, compressors 
Lamp and light fitting 
Primary cell and primary batteries 
Sanitary ware and parts thereof of all kind 
Articles of plastic, floor covering, baths, shower, sinks, washbasins, seats, sanitary ware of plastic 
Slabs of marbles and granite 
Goods of marble and granite such as tiles 
Ceramic tiles of all kinds 
Miscellaneous articles such as vacuum flasks, lighters, 
Wrist watches, clocks, watch movement, watch cases, straps, parts 
Article of apparel &amp; clothing accessories of leather, guts, furskin, artificial fur and other articles such as saddlery and harness for any animal 
Articles of cutlery, stoves, cookers and similar non electric domestic appliances 
Razor and razor blades 
Multi-functional printers, cartridges 
Office or desk equipment 
Door, windows and frames of aluminium. 
Articles of plaster such as board, sheet, 
Articles of cement or concrete or stone and artificial stone, 
Articles of asphalt or slate, 
Articles of mica 
Ceramic flooring blocks, pipes, conduit, pipe fitting 
Wall paper and wall covering 
Glass of all kinds and articles thereof such as mirror, safety glass, sheets, glassware 
Electrical, electronic weighing machinery 
Fire extinguishers and fire extinguishing charge 
Fork lifts, lifting and handling equipment, 
Bull dozers, excavators, loaders, road rollers, 
Earth moving and levelling machinery, 
Escalators, 
Cooling towers, pressure vessels, reactors 
Crankshaft for sewing machine, tailor&rsquo;s dummies, bearing housings, gears and gearing; ball or roller screws; gaskets 
Electrical apparatus for radio and television broadcasting 
Sound recording or reproducing apparatus 
Signalling, safety or traffic control equipment for transports 
Physical exercise equipment, festival and carnival equipment, swings, shooting galleries, roundabouts, gymnastic and athletic equipment 
All musical instruments and their parts 
Artificial flowers, foliage and artificial fruits 
Explosive, anti-knocking preparation, fireworks 
Cocoa butter, fat, oil powder, 
Extract, essence ad concentrates of coffee, miscellaneous food preparations 
Chocolates, Chewing gum / bubble gum 
Malt extract and food preparations of flour, groats, meal, starch or malt extract 
Waffles and wafers coated with chocolate or containing chocolate 
Rubber tubes and miscellaneous articles of rubber 
Goggles, binoculars, telescope, 
Cinematographic cameras and projectors, image projector, 
Microscope, specified laboratory equipment, specified scientific equipment such as for meteorology, hydrology, oceanography, geology 
Solvent, thinners, hydraulic fluids, anti-freezing preparation

<ins>Items under GST rate reduced from 18% to 12%&nbsp;</ins>

Condensed milk 
Refined sugar and sugar cubes 
Pasta 
Curry paste, mayonnaise and salad dressings, mixed condiments and mixed seasoning 
Diabetic food 
Medicinal grade oxygen 
Printing ink 
Hand bags and shopping bags of jute and cotton 
Hats (knitted or crocheted) 
Parts of specified agricultural, horticultural, forestry, harvesting or threshing machinery 
Specified parts of sewing machine 
Spectacles frames 
Furniture wholly made of bamboo or cane

<ins>Items under GST rate reduced from 12% to 5%&nbsp;</ins>

Desiccated coconut 
Narrow woven fabric including cotton newar [with no refund of unutilised input tax credit] 
Idli, dosa batter 
Finished leather, chamois and composition leather 
Coir cordage and ropes, jute twine, coir products 
Fishing net and fishing hooks 
Worn clothing 
Fly ash brick

<ins>Items under GST rate reduced from 18% to 5%&nbsp;</ins>

Puffed rice chikki, peanut chikki, sesame chikki, revdi, tilrevdi, khaza, kazuali, groundnut sweets gatta, kuliya 
Flour of potatoes put up in unit container bearing a brand name 
Chutney powder 
Fly ash 
Sulphur recovered in refining of crude 
Fly ash aggregate with 90% or more fly ash content

<ins>Items under GST rate reduced from 5% to NIL</ins>

Guar meal 
Hop cone (other than grounded, powdered or in pellet form) 
Certain dried vegetables such as sweet potatoes, maniac 
Unworked coconut shell 
Fish frozen or dried (not put up in unit container bearing a brand name) 
Khandsari sugar

Only 50 items including air conditioner, washing machine, paints, cement and mostly demerit, sin and luxury goods, to remain in the highest tax bracket of 28%.&nbsp;

New GST rates will come into effect from November 15 2017.&nbsp;

New GST rates will come into effect from November 15 2017.?

In the biggest GST rearrangement till date, tax rates on over 200 items were cut down to provide relief to consumers and businesses on Friday. Giving a major reprieve to the common man, the GST Council came up with a number of new measures. Maximum pruning was done in the 28% slab which will now be applied on only 50 items from 228 earlier. Many of the items and services which were previously under the 28% bracket will now attract tax of 18% only. Following is a list of all the items under the tax slabs: Items under GST rate reduced from 28% to 18% Wire, cables, insulated conductors, electrical insulators, electrical plugs, switches, sockets, fuses, relays, electrical connectors Electrical boards, panels, consoles, cabinets etc for electric control or distribution Particle/fibre boards and ply wood. Article of wood, wooden frame, paving block Furniture, mattress, bedding and similar furnishing Trunk, suitcase, vanity cases, brief cases, travelling bags and other hand bags, cases Detergents, washing and cleaning preparations Liquid or cream for washing the skin Shampoos; Hair cream, Hair dyes (natural, herbal or synthetic) and similar other goods; henna powder or paste, not mixed with any other ingredient; Pre-shave, shaving or after-shave preparations, personal deodorants, bath preparations, perfumery, cosmetic or toilet preparations, room deodorisers Perfumes and toilet waters Beauty or make-up preparations Fans, pumps, compressors Lamp and light fitting Primary cell and primary batteries Sanitary ware and parts thereof of all kind Articles of plastic, floor covering, baths, shower, sinks, washbasins, seats, sanitary ware of plastic Slabs of marbles and granite Goods of marble and granite such as tiles Ceramic tiles of all kinds Miscellaneous articles such as vacuum flasks, lighters, Wrist watches, clocks, watch movement, watch cases, straps, parts Article of apparel & clothing accessories of leather, guts, furskin, artificial fur and other articles such as saddlery and harness for any animal Articles of cutlery, stoves, cookers and similar non electric domestic appliances Razor and razor blades Multi-functional printers, cartridges Office or desk equipment Door, windows and frames of aluminium. Articles of plaster such as board, sheet, Articles of cement or concrete or stone and artificial stone, Articles of asphalt or slate, Articles of mica Ceramic flooring blocks, pipes, conduit, pipe fitting Wall paper and wall covering Glass of all kinds and articles thereof such as mirror, safety glass, sheets, glassware Electrical, electronic weighing machinery Fire extinguishers and fire extinguishing charge Fork lifts, lifting and handling equipment, Bull dozers, excavators, loaders, road rollers, Earth moving and levelling machinery, Escalators, Cooling towers, pressure vessels, reactors Crankshaft for sewing machine, tailor’s dummies, bearing housings, gears and gearing; ball or roller screws; gaskets Electrical apparatus for radio and television broadcasting Sound recording or reproducing apparatus Signalling, safety or traffic control equipment for transports Physical exercise equipment, festival and carnival equipment, swings, shooting galleries, roundabouts, gymnastic and athletic equipment All musical instruments and their parts Artificial flowers, foliage and artificial fruits Explosive, anti-knocking preparation, fireworks Cocoa butter, fat, oil powder, Extract, essence ad concentrates of coffee, miscellaneous food preparations Chocolates, Chewing gum / bubble gum Malt extract and food preparations of flour, groats, meal, starch or malt extract Waffles and wafers coated with chocolate or containing chocolate Rubber tubes and miscellaneous articles of rubber Goggles, binoculars, telescope, Cinematographic cameras and projectors, image projector, Microscope, specified laboratory equipment, specified scientific equipment such as for meteorology, hydrology, oceanography, geology Solvent, thinners, hydraulic fluids, anti-freezing preparation Items under GST rate reduced from 18% to 12% Condensed milk Refined sugar and sugar cubes Pasta Curry paste, mayonnaise and salad dressings, mixed condiments and mixed seasoning Diabetic food Medicinal grade oxygen Printing ink Hand bags and shopping bags of jute and cotton Hats (knitted or crocheted) Parts of specified agricultural, horticultural, forestry, harvesting or threshing machinery Specified parts of sewing machine Spectacles frames Furniture wholly made of bamboo or cane Items under GST rate reduced from 12% to 5% Desiccated coconut Narrow woven fabric including cotton newar [with no refund of unutilised input tax credit] Idli, dosa batter Finished leather, chamois and composition leather Coir cordage and ropes, jute twine, coir products Fishing net and fishing hooks Worn clothing Fly ash brick Items under GST rate reduced from 18% to 5% Puffed rice chikki, peanut chikki, sesame chikki, revdi, tilrevdi, khaza, kazuali, groundnut sweets gatta, kuliya Flour of potatoes put up in unit container bearing a brand name Chutney powder Fly ash Sulphur recovered in refining of crude Fly ash aggregate with 90% or more fly ash content Items under GST rate reduced from 5% to NIL Guar meal Hop cone (other than grounded, powdered or in pellet form) Certain dried vegetables such as sweet potatoes, maniac Unworked coconut shell Fish frozen or dried (not put up in unit container bearing a brand name) Khandsari sugar Only 50 items including air conditioner, washing machine, paints, cement and mostly demerit, sin and luxury goods, to remain in the highest tax bracket of 28%. New GST rates will come into effect from November 15 2017.

Revised GST rates: Complete list

Finance <a href="http://www.wionews.com/india-news/wont-permit-bjp-to-impose-gabbar-singh-tax-says-rahul-gandhi-23939">Minister Arun Jaitley today announced a revised GST tax structure</a>.

The finance minister said he had reviewed taxes on items in the 28% bracket during the GST Council meeting which concluded on Friday.

New measures:

<ul>
	<li>Taxes on 178 items slashed from 28% to 18%.&nbsp;&nbsp;</li>
</ul>

&nbsp;

<ul>
	<li>Only 50 items in 28% tax bracket.</li>
</ul>

&nbsp;

<ul>
	<li>5% tax at restaurants except for 5-star hotels.</li>
</ul>

&nbsp;

<ul>
	<li>New tax slabs to be applicable from November 15.</li>
</ul>

&nbsp;

<ul>
	<li>Eating out is set to become cheaper.</li>
</ul>

&nbsp;

The GST Council pruned the list of items in the top 28 per cent GST&nbsp;slab to just 50 from current 228. Only luxury goods are in the highest tax bracket and items of daily use have been&nbsp;shifted to the 18 per cent&nbsp;category.

As many as 178 items of daily use were shifted from the top tax bracket of 28 per cent to 18 per cent, while a uniform 5 per cent tax was prescribed for all restaurants, both air-conditioned and non-AC, finance Minister Arun Jaitley said after the GST Council meeting.

The Federation of Hotel and Restaurant Associations of India (FHRAI) said GST Council&#39;s decision to cut tax rate for restaurants to 5 per cent without input tax credit will help restaurants across India rationalise tariffs.

&quot;We are extremely thankful to the government for making these much-required changes in the GST regime. This will help restaurants across India rationalise tariffs,&quot; FHRAI President Garish Oberoi said in a statement.

Deloitte India said in a statement that a uniform tax rate of 12 per cent doing away with tax rate distinction between AC and non-AC restaurants is welcome, but the critical issue of input tax credit eligibility cannot be ignored.

Traders and small businesses complained that GST had increased their administrative and financial burden.

Finance Minister Arun Jaitley today announced a revised GST tax structure. The finance minister said he had reviewed taxes on items in the 28% bracket during the GST Council meeting which concluded on Friday. New measures: Taxes on 178 items slashed from 28% to 18%. Only 50 items in 28% tax bracket. 5% tax at restaurants except for 5-star hotels. New tax slabs to be applicable from November 15. Eating out is set to become cheaper. The GST Council pruned the list of items in the top 28 per cent GST slab to just 50 from current 228. Only luxury goods are in the highest tax bracket and items of daily use have been shifted to the 18 per cent category. As many as 178 items of daily use were shifted from the top tax bracket of 28 per cent to 18 per cent, while a uniform 5 per cent tax was prescribed for all restaurants, both air-conditioned and non-AC, finance Minister Arun Jaitley said after the GST Council meeting. The Federation of Hotel and Restaurant Associations of India (FHRAI) said GST Council's decision to cut tax rate for restaurants to 5 per cent without input tax credit will help restaurants across India rationalise tariffs. "We are extremely thankful to the government for making these much-required changes in the GST regime. This will help restaurants across India rationalise tariffs," FHRAI President Garish Oberoi said in a statement. Deloitte India said in a statement that a uniform tax rate of 12 per cent doing away with tax rate distinction between AC and non-AC restaurants is welcome, but the critical issue of input tax credit eligibility cannot be ignored.

GST: Taxes on 178 items slashed, says Jaitley

As the 23rd GST Council meeting ended on Friday, Congress vice-president Rahul Gandhi said that his party will not let the BJP-led NDA government to impose the&nbsp;&quot;Gabbar Singh Tax&quot;, meaning the GST.

Gabbar Singh is a famous decoit in the Bollywood movie Sholay, Rahul had earlier too taken potshots at the BJP government over the GST, calling it the&nbsp;&quot;Gabbar Singh Tax&quot;.

The Congres vice-president&nbsp;said the government&#39;s new tax structure would &quot;break the back of small and medium businesses, crush the informal sector and destroy millions&quot;.&nbsp;

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We will not allow BJP to impose a Gabbar Singh Tax on India. They cannot break the back of the small and medium businesses, crush the informal sector and destroy millions of jobs. <a href="https://twitter.com/hashtag/GSTCouncilMeet?src=hash&amp;ref_src=twsrc%5Etfw">#GSTCouncilMeet</a>
&mdash; Office of RG (@OfficeOfRG) <a href="https://twitter.com/OfficeOfRG/status/928951424473378817?ref_src=twsrc%5Etfw">November 10, 2017</a></blockquote>
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The Congress leader then went on to give some &#39;suggestions&#39;, saying, &quot;correct the fundamental flaw in GST architecture to give India a &quot;Genuine Simple Tax&quot; and advised the government not to waste time&nbsp;with lip service.

&quot;Acknowledge your incompetence, shed your arrogance and listen to the people of India,&quot; he told the government.

He also said how this decision would 'break the back of small and medium businesses, crush the informal sector and destroy millions'.?

As the 23rd GST Council meeting ended on Friday, Congress vice-president Rahul Gandhi said that his party will not let the BJP-led NDA government to impose the "Gabbar Singh Tax", meaning the GST. Gabbar Singh is a famous decoit in the Bollywood movie Sholay, Rahul had earlier too taken potshots at the BJP government over the GST, calling it the "Gabbar Singh Tax". The Congres vice-president said the government's new tax structure would "break the back of small and medium businesses, crush the informal sector and destroy millions". We will not allow BJP to impose a Gabbar Singh Tax on India. They cannot break the back of the small and medium businesses, crush the informal sector and destroy millions of jobs. #GSTCouncilMeet — Office of RG (@OfficeOfRG) November 10, 2017 × The Congress leader then went on to give some 'suggestions', saying, "correct the fundamental flaw in GST architecture to give India a "Genuine Simple Tax" and advised the government not to waste time with lip service. "Acknowledge your incompetence, shed your arrogance and listen to the people of India," he told the government.

Correct GST with 'Genuine Simple Tax', says Rahul Gandhi

The Indian economy is at a crossroads. The economic restructuring that began with the November 8 announcement of demonetisation, now faces the risk of being derailed by parties with vested interests. The process of demonetisation and the implementation of the Goods and Services Tax are important economic disruptions that can go a long way in overhauling the dilapidated structures of Indian economy.

Critics have suggested that demonetisation could not achieve its declared goal and are, therefore, quick to pronounce it as a monumental failure. The former prime minister even went to the extent of calling the process a &#39;legalised plunder&#39;. It is, however, important to highlight why demonetisation was a critically important disruption that unveiled the depths of the black economy in India.

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<h5>Post-demonetisation, one of the major successes of the exercise has been the identification of additional 56 lakh taxpayers who filed e-ITRs between 1 April and 5 August 2017</h5>
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Post-demonetisation, one of the major successes of the exercise has been the identification of additional 56 lakh taxpayers who filed e-ITRs between 1 April and 5 August 2017, while for the entire period of 2016-17, a staggering 91 lakh new taxpayers were added to the list. The number is expected to rise further with the implementation of complementary tax reforms. An estimated one crore new taxpayers will be contributing to the country&#39;s kitty by 2018.

For those who questioned the rationale of the process on the grounds that 99 per cent of the money came back into the system, it becomes important to highlight that while this may have gone against the government&#39;s initial calculations, the return of currency into the system was not as big a failure as is being made out. On the contrary, as previously unaccounted for money was deposited into the system, a large part of it was taxed, making major contributions to the government&#39;s kitty. The currency trail was, therefore, significant in the identification of the aforementioned pool of new taxpayers, who remained previously untaxed.

The exercise also helped in identifying a remarkable 3 lakh shell companies that were used for diverting funds and committing tax frauds. A crackdown on such companies was an effective anti-money laundering steps that was made possible by the currency trail identified post-demonetisation. While the usual narrative against the exercise uses the benchmark of &ldquo;99% cash returned&rdquo; to chastise the government, the actual benefits accrued from the disruption are brushed aside.

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<h5>The GST helped widen the government&#39;s tax net to incorporate the previously un-taxed business enterprises.</h5>
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8 months after demonetisation, the implementation of the GST as an indirect tax reform measure is another very important economic reform taken by the government. The GST helped widen the government&#39;s tax net to incorporate the previously un-taxed business enterprises. The self-corrective mechanisms incorporated in the GST structure, namely, the input tax credits against double taxation helps squeeze the noose around those who used to pass the tax burden onto the customers/consumers but did not pass on the benefits to the government.

Not only has the implementation of the GST acted as a stepping stone towards the creation of a unified market structure, it has also helped the government identify direct taxpayers. It has expanded the indirect tax base to 6.6 lakh new business agents, previously outside the tax net. Besides, the GST has helped in a greater formalisation of the economy; a process that will ensure minimum wages for workers as well as formal work contracts for labourers that will go a long way in mitigating the evil of labour exploitation.&nbsp;

A greater formalisation of the economy will also help small businessmen keep a real-time record of their tax payments, and help them gain greater access to formalised credit options, thus, ending a previously faced constraint on credit-access. A digital record on the financial health of companies will also streamline investments and ultimately work to the benefit of consumers.

It is no surprise then that through the implementation of demonetisation and GST, within a year the government has announced three major capital-intensive schemes: the Saubhagya scheme to provide last mile electric connectivity to rural households, the Bharatmala scheme to upgrade the infrastructure of the country on a mission mode basis, and the bank recapitalisation scheme to improve the health of ailing public sector banks. While none of these schemes are &#39;populist&#39; in the true sense, they still cater to the needs of those on the lowest rung of our socio-economic ladder.

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<h5>The government&#39;s emphasis on long-term economic reforms and socio-economic restructuring will go a long way in ushering in the idea of clean money.</h5>
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To further deepen and widen its tax net, the government now must address the issue of high rates of taxes and bring them down to further encourage a voluntary filing of tax returns. The GST structures will need to be worked out so that filing of returns can be done effectively and easily. The government must be credited for putting a robust feedback mechanism in place. This must be used pro-actively to streamline the financial system by the end of this financial year.

For the rest, it must be remembered that no country can survive on an economic model that rests on a parallel system of white and black money. The unhindered flow from white-to-black-to-white has worked to hollow out our economic system. The government&#39;s emphasis on long-term economic reforms and socio-economic restructuring will go a long way in ushering in the idea of clean money. It has also instilled fear among those who choose to evade taxation and boost the morale of those who sustain on purely white incomes. This in itself, is an important moral victory for many.

Demonetisation has instilled fear among those who choose to evade taxation and boost the morale of those who sustain on purely white incomes

The Indian economy is at a crossroads. The economic restructuring that began with the November 8 announcement of demonetisation, now faces the risk of being derailed by parties with vested interests. The process of demonetisation and the implementation of the Goods and Services Tax are important economic disruptions that can go a long way in overhauling the dilapidated structures of Indian economy. Critics have suggested that demonetisation could not achieve its declared goal and are, therefore, quick to pronounce it as a monumental failure. The former prime minister even went to the extent of calling the process a 'legalised plunder'. It is, however, important to highlight why demonetisation was a critically important disruption that unveiled the depths of the black economy in India. Post-demonetisation, one of the major successes of the exercise has been the identification of additional 56 lakh taxpayers who filed e-ITRs between 1 April and 5 August 2017 × Post-demonetisation, one of the major successes of the exercise has been the identification of additional 56 lakh taxpayers who filed e-ITRs between 1 April and 5 August 2017, while for the entire period of 2016-17, a staggering 91 lakh new taxpayers were added to the list. The number is expected to rise further with the implementation of complementary tax reforms. An estimated one crore new taxpayers will be contributing to the country's kitty by 2018. For those who questioned the rationale of the process on the grounds that 99 per cent of the money came back into the system, it becomes important to highlight that while this may have gone against the government's initial calculations, the return of currency into the system was not as big a failure as is being made out. On the contrary, as previously unaccounted for money was deposited into the system, a large part of it was taxed, making major contributions to the government's kitty. The currency trail was, therefore, significant in the identification of the aforementioned pool of new taxpayers, who remained previously untaxed. The exercise also helped in identifying a remarkable 3 lakh shell companies that were used for diverting funds and committing tax frauds. A crackdown on such companies was an effective anti-money laundering steps that was made possible by the currency trail identified post-demonetisation. While the usual narrative against the exercise uses the benchmark of “99% cash returned” to chastise the government, the actual benefits accrued from the disruption are brushed aside. The GST helped widen the government's tax net to incorporate the previously un-taxed business enterprises. × 8 months after demonetisation, the implementation of the GST as an indirect tax reform measure is another very important economic reform taken by the government. The GST helped widen the government's tax net to incorporate the previously un-taxed business enterprises. The self-corrective mechanisms incorporated in the GST structure, namely, the input tax credits against double taxation helps squeeze the noose around those who used to pass the tax burden onto the customers/consumers but did not pass on the benefits to the government. Not only has the implementation of the GST acted as a stepping stone towards the creation of a unified market structure, it has also helped the government identify direct taxpayers. It has expanded the indirect tax base to 6.6 lakh new business agents, previously outside the tax net. Besides, the GST has helped in a greater formalisation of the economy; a process that will ensure minimum wages for workers as well as formal work contracts for labourers that will go a long way in mitigating the evil of labour exploitation. A greater formalisation of the economy will also help small businessmen keep a real-time record of their tax payments, and help them gain greater access to formalised credit options, thus, ending a previously faced constraint on credit-access. A digital record on the financial health of companies will also streamline investments and ultimately work to the benefit of consumers. It is no surprise then that through the implementation of demonetisation and GST, within a year the government has announced three major capital-intensive schemes: the Saubhagya scheme to provide last mile electric connectivity to rural households, the Bharatmala scheme to upgrade the infrastructure of the country on a mission mode basis, and the bank recapitalisation scheme to improve the health of ailing public sector banks. While none of these schemes are 'populist' in the true sense, they still cater to the needs of those on the lowest rung of our socio-economic ladder. The government's emphasis on long-term economic reforms and socio-economic restructuring will go a long way in ushering in the idea of clean money. × To further deepen and widen its tax net, the government now must address the issue of high rates of taxes and bring them down to further encourage a voluntary filing of tax returns. The GST structures will need to be worked out so that filing of returns can be done effectively and easily. The government must be credited for putting a robust feedback mechanism in place. This must be used pro-actively to streamline the financial system by the end of this financial year. For the rest, it must be remembered that no country can survive on an economic model that rests on a parallel system of white and black money. The unhindered flow from white-to-black-to-white has worked to hollow out our economic system. The government's emphasis on long-term economic reforms and socio-economic restructuring will go a long way in ushering in the idea of clean money. It has also instilled fear among those who choose to evade taxation and boost the morale of those who sustain on purely white incomes. This in itself, is an important moral victory for many.

Demonetisation and GST are not the 'demons' as some argue

Lashing out at the Centre, Congress vice president Rahul Gandhi on&thinsp;Wednesday said note ban and GST rollout have broken the legs of Surat as he observed a &ldquo;black day&rdquo; in the country&rsquo;s textile and diamond hub.

Gandhi interacted with industry representatives and workers at Nirman Industries&rsquo; loom factory in Katargam industrial development area after he arrived in the Surat city of the poll-bound Gujarat.

&ldquo;There was an attack on India&rsquo;s economy one year back,&rdquo; he said.

&ldquo;I interacted with the people here and they told me that notebandi (demonetisation) and then GST have broken Surat&rsquo;s legs. The industry has been finished by the twin blows not only here, but in the entire country,&rdquo; Gandhi said.

&ldquo;The people said that they have been threatened. But truth cannot be suppressed, it will come out,&rdquo; the Congress leader told reporters.

He said, &ldquo;Surat is the place which can compete with China and has been doing it. Jobs will either come to India or China. But instead of helping them, the government has destroyed their strength.&rdquo;

Hitting out at the new tax regime rolled out by the NDA government on July 1 this year, Gandhi said, &ldquo;We had told (Prime Minister) Narendra Modiji and (Union Finance Minister) Arun Jaitleyji not to implement the GST in this way.&rdquo;

He said, &ldquo;This is not a political thing, this is not between the Congress and the BJP. This is about India&rsquo;s competitiveness, we have to compete with China. You please do not kill our industries and businesses. But they said that we are going to implement it at 12 midnight,&rdquo; he said.

&ldquo;You press (media) people were asking us, why we are not allowing GST to be implemented, because we wanted to save Surat and the country,&rdquo; he said.

&ldquo;GST means one nation, one tax. But this GST, implemented by Modiji, which has five layers will not work. We had said that maximum cap on taxes should be 18 per cent but they did not listen to us,&rdquo; the Congress leader said.

Gandhi is expected to have a formal interaction with traders in Adajan area of the city this evening.

He is also likely to participate in a candle light vigil, to mark the &ldquo;black day&rdquo;, near Vivekanand statue in Chowk Bazar area of Surat.

The prime minister had announced demonetisation of Rs 1,000 and Rs 500 notes as a measure to fight black money, corruption, fake currency and terror funding on this day last year.

The opposition is observing a &ldquo;black day&rdquo; today.

The opposition is observing a ?black day? today.

Lashing out at the Centre, Congress vice president Rahul Gandhi on Wednesday said note ban and GST rollout have broken the legs of Surat as he observed a “black day” in the country’s textile and diamond hub. Gandhi interacted with industry representatives and workers at Nirman Industries’ loom factory in Katargam industrial development area after he arrived in the Surat city of the poll-bound Gujarat. “There was an attack on India’s economy one year back,” he said. “I interacted with the people here and they told me that notebandi (demonetisation) and then GST have broken Surat’s legs. The industry has been finished by the twin blows not only here, but in the entire country,” Gandhi said. “The people said that they have been threatened. But truth cannot be suppressed, it will come out,” the Congress leader told reporters. He said, “Surat is the place which can compete with China and has been doing it. Jobs will either come to India or China. But instead of helping them, the government has destroyed their strength.” Hitting out at the new tax regime rolled out by the NDA government on July 1 this year, Gandhi said, “We had told (Prime Minister) Narendra Modiji and (Union Finance Minister) Arun Jaitleyji not to implement the GST in this way.” He said, “This is not a political thing, this is not between the Congress and the BJP. This is about India’s competitiveness, we have to compete with China. You please do not kill our industries and businesses. But they said that we are going to implement it at 12 midnight,” he said. “You press (media) people were asking us, why we are not allowing GST to be implemented, because we wanted to save Surat and the country,” he said. “GST means one nation, one tax. But this GST, implemented by Modiji, which has five layers will not work. We had said that maximum cap on taxes should be 18 per cent but they did not listen to us,” the Congress leader said. Gandhi is expected to have a formal interaction with traders in Adajan area of the city this evening. He is also likely to participate in a candle light vigil, to mark the “black day”, near Vivekanand statue in Chowk Bazar area of Surat. The prime minister had announced demonetisation of Rs 1,000 and Rs 500 notes as a measure to fight black money, corruption, fake currency and terror funding on this day last year. The opposition is observing a “black day” today.

Note ban, GST have broken textile hub Surat's legs: Rahul Gandhi

Former Prime Minister Manmohan Singh said Tuesday that November 8, 2016 was a black day for the Indian economy and democracy.&nbsp;

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8th November was a black day for our economy &amp; indeed our democracy: Former PM Manmohan Singh in Gujarat <a href="https://twitter.com/hashtag/Demonetisation?src=hash&amp;ref_src=twsrc%5Etfw">#Demonetisation</a> <a href="https://t.co/FTdSND8Dpz">pic.twitter.com/FTdSND8Dpz</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/927789079554428928?ref_src=twsrc%5Etfw">November 7, 2017</a></blockquote>
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Singh was speaking in Ahmedabad.&nbsp;

November 8, tomorrow, is the first anniversary of demonetisation.&nbsp;

&quot;Tomorrow we mark one year since the disastrous policy was thrust on the people of our country,&quot; Singh said.&nbsp;

He added that no other country in the world has taken such a &quot;drastic&quot; step that got rid, in one fell swoop, of 86 per cent of its currency.&nbsp;

Singh added that &quot;coercive steps like demonetisation&quot; are ineffective at reaching the goal of a less-cash economy.&nbsp;

Organised loot and legalised plunder

&quot;I repeat what I said in parliament,&quot; Singh said. &quot;This was organised loot and legalised plunder.&quot;

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I repeat what I said in the parliament, this was organised loot &amp; legalized plunder: Manmohan Singh <a href="https://twitter.com/hashtag/Demonetisation?src=hash&amp;ref_src=twsrc%5Etfw">#Demonetisation</a> <a href="https://t.co/AZY56cy8Pl">pic.twitter.com/AZY56cy8Pl</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/927789860756250624?ref_src=twsrc%5Etfw">November 7, 2017</a></blockquote>
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&quot;This twin (demonetisation and GST) blow is (a) complete disaster for our economy, it has broken the back of our small businesses,&quot; he added.&nbsp;

Singh added that the net result of the two moves was an increase in Chinese imports and the loss of Indian jobs.&nbsp;

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We had to run for Chinese imports at the cost of Indian jobs: Manmohan Singh on <a href="https://twitter.com/hashtag/Demonetisation?src=hash&amp;ref_src=twsrc%5Etfw">#Demonetisation</a> &amp; <a href="https://twitter.com/hashtag/GST?src=hash&amp;ref_src=twsrc%5Etfw">#GST</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/927790972854968321?ref_src=twsrc%5Etfw">November 7, 2017</a></blockquote>
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&quot;In first half of 2016-17, India&#39;s imports from China stood at Rs 1.96 lakh crore. In 2017-18, it increased to Rs 2.41 lakh crore,&quot; Singh said.&nbsp;

&quot;Unprecedented growth of imports by over Rs 45,000 Cr, a 23% increase in a year, can be attributed largely to demonetisation, GST,&quot; Singh added.&nbsp;

&quot;The fear of tax terrorism has eroded the confidence of Indian business to invest,&quot; Singh said.&nbsp;

In contrast, Singh said of his time in power, &quot;I can proudly say that we lifted 140 million people out of poverty.&quot;&nbsp;

Bullet train exercise in vanity 
And still Singh continued his attack on the government.&nbsp;

The bullet train, he said, launched with much fanfare, is an exercise in vanity.&nbsp;

He asked whether the prime minister had considered the alternative of upgrading the broad gauge railway?

And he asked whether questioning the bullet train made one anti-development? Does questioning GST &amp; demonetisation make one a tax evader?&nbsp;

&quot;This attitude of suspecting everyone to be (a) thief or anti-national, low-level rhetoric is damaging to democratic discourse,&quot; Singh said.&nbsp;

&nbsp;

November 8, tomorrow, is the first anniversary of demonetisation

Former Prime Minister Manmohan Singh said Tuesday that November 8, 2016 was a black day for the Indian economy and democracy. 8th November was a black day for our economy & indeed our democracy: Former PM Manmohan Singh in Gujarat #Demonetisation pic.twitter.com/FTdSND8Dpz — ANI (@ANI) November 7, 2017 × Singh was speaking in Ahmedabad. November 8, tomorrow, is the first anniversary of demonetisation. "Tomorrow we mark one year since the disastrous policy was thrust on the people of our country," Singh said. He added that no other country in the world has taken such a "drastic" step that got rid, in one fell swoop, of 86 per cent of its currency. Singh added that "coercive steps like demonetisation" are ineffective at reaching the goal of a less-cash economy. Organised loot and legalised plunder "I repeat what I said in parliament," Singh said. "This was organised loot and legalised plunder." I repeat what I said in the parliament, this was organised loot & legalized plunder: Manmohan Singh #Demonetisation pic.twitter.com/AZY56cy8Pl — ANI (@ANI) November 7, 2017 × "This twin (demonetisation and GST) blow is (a) complete disaster for our economy, it has broken the back of our small businesses," he added. Singh added that the net result of the two moves was an increase in Chinese imports and the loss of Indian jobs. We had to run for Chinese imports at the cost of Indian jobs: Manmohan Singh on #Demonetisation & #GST — ANI (@ANI) November 7, 2017 × "In first half of 2016-17, India's imports from China stood at Rs 1.96 lakh crore. In 2017-18, it increased to Rs 2.41 lakh crore," Singh said. "Unprecedented growth of imports by over Rs 45,000 Cr, a 23% increase in a year, can be attributed largely to demonetisation, GST," Singh added. "The fear of tax terrorism has eroded the confidence of Indian business to invest," Singh said. In contrast, Singh said of his time in power, "I can proudly say that we lifted 140 million people out of poverty." Bullet train exercise in vanity And still Singh continued his attack on the government. The bullet train, he said, launched with much fanfare, is an exercise in vanity. He asked whether the prime minister had considered the alternative of upgrading the broad gauge railway? And he asked whether questioning the bullet train made one anti-development? Does questioning GST & demonetisation make one a tax evader? "This attitude of suspecting everyone to be (a) thief or anti-national, low-level rhetoric is damaging to democratic discourse," Singh said.

I repeat... was organised loot and legalised plunder: Manmohan Singh on demonetisation

<a href="http://www.wionews.com/world/donald-trump-due-in-south-korea-amid-north-korea-tensions-23627" target="_blank">Trump promises to &#39;figure it all out&#39; -- meaning North Korea -- with South Korean President</a>

US President Donald Trump headed to Seoul Tuesday vowing to &quot;figure it all out&quot; with his South Korean counterpart Moon Jae-In, despite the two allies&#39; differences on how to deal with the nuclear-armed North.

&quot;Getting ready to leave for South Korea and meetings with President Moon, a fine gentleman,&quot; Trump tweeted early Tuesday from Japan, the first stop of his Asian tour, adding: &quot;We will figure it all out!&quot;

&nbsp;

<a href="http://www.wionews.com/india-news/enclosed-sonia-gandhis-letter-to-show-truth-behind-claims-against-me-jaya-jaitly-on-her-book-23628" target="_blank">Jaya Jaitly says Sonia Gandhi facilitated framing of corruption charges against her</a>

Former Samata Party president Jaya Jaitly has said the then UPA government and especially Congress President Sonia Gandhi had facilitated the framing of corruption charges against her.&nbsp;

Jaitly is accused of accepting a Rs two-lakh bribe in 2001.&nbsp;

She has made her accusations in her memoir &#39;Life Among the Scorpions: Memoirs of an Indian Woman in Public Life&#39;, due to be released today.&nbsp;

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<a href="http://www.wionews.com/world/texas-church-shooting-witness-he-wouldnt-stop-23629" target="_blank">Texas church shooting witness: &#39;He wouldn&#39;t stop&#39;</a>

Witnesses have described the horror that unfolded after 26-year-old gunman Devin Patrick Kelley started shooting at a Sunday church service congregation.&nbsp;

&quot;He wouldn&#39;t stop,&quot; said one.&nbsp;She described the one image seared into her mind: the gunman&#39;s body convulsions as he emptied his assault rifle.&nbsp;

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<a href="http://www.wionews.com/india-news/nitish-bats-for-reservation-in-private-sector-23617" target="_blank">Bihar Chief Minister Nitish says time for reservation in private sector</a>

&quot;It`s my opinion that there must be reservation in the private sector too. There must be a debate on this at the national level,&quot; Nitish said.

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<a href="http://www.wionews.com/india-news/now-mamata-calls-gst-great-selfish-tax-23591" target="_blank">Mamata calls GST &#39;Great Selfish Tax&#39;</a>

Rahul Gandhi started by calling it the &quot;Gabbar Singh Tax&quot;. Taking her cue from him, West Bengal chief minister Mamata Banerjee has now called it the &quot;Great Selfish Tax&quot;.

 
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Trump promises to 'figure it all out' -- meaning North Korea -- with South Korean President US President Donald Trump headed to Seoul Tuesday vowing to "figure it all out" with his South Korean counterpart Moon Jae-In, despite the two allies' differences on how to deal with the nuclear-armed North. "Getting ready to leave for South Korea and meetings with President Moon, a fine gentleman," Trump tweeted early Tuesday from Japan, the first stop of his Asian tour, adding: "We will figure it all out!" Jaya Jaitly says Sonia Gandhi facilitated framing of corruption charges against her Former Samata Party president Jaya Jaitly has said the then UPA government and especially Congress President Sonia Gandhi had facilitated the framing of corruption charges against her. Jaitly is accused of accepting a Rs two-lakh bribe in 2001. She has made her accusations in her memoir 'Life Among the Scorpions: Memoirs of an Indian Woman in Public Life', due to be released today. Texas church shooting witness: 'He wouldn't stop' Witnesses have described the horror that unfolded after 26-year-old gunman Devin Patrick Kelley started shooting at a Sunday church service congregation. "He wouldn't stop," said one. She described the one image seared into her mind: the gunman's body convulsions as he emptied his assault rifle. Bihar Chief Minister Nitish says time for reservation in private sector "It`s my opinion that there must be reservation in the private sector too. There must be a debate on this at the national level," Nitish said. Mamata calls GST 'Great Selfish Tax' Rahul Gandhi started by calling it the "Gabbar Singh Tax". Taking her cue from him, West Bengal chief minister Mamata Banerjee has now called it the "Great Selfish Tax".

WION morning news brief, November 7, 2017

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