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Maha govt tables bill to amend Stamps Act

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Mumbai, March 19: The Maharashtra government has tabled the bill to amend the Maharashtra Stamps Act, 1958. This was necessitated after the Deputy Chief Minister and Finance Minister Ajit Pawar in his budget for 2025-26 proposed to mobilise additional revenue by revising stamp duty charged on certain documents.

The bill was presented late Tuesday evening by the Minister of State Yogesh Kadam in the state Assembly.

“Section 4 of the Stamp Act is proposed to be amended with a view to increase the rate of stamp duty, which is fixed long ago at the nominal amount of Rs 100 to Rs 500 in case of supplementary document if more than one document is used to complete the transaction,” reads the bill.

“Sections 10 and 10D of the Stamp Act are proposed to be amended with a view to facilitating online mode for payment (e-payment) and “certificate of stamp duty” in State Government Treasury a new provision for ‘e-stamp certificate’, so that people can pay stamp duty online at any time from anywhere,” reads the bill.

Further, the bill says, “Subsection (1) of section 31 of the Stamp Act is proposed to be amended with a view to increasing the adjudication fee from Rs 100 to Rs 1,000 for changeability of the instrument, applying to have the opinion of the Collector and to provide for depositing the certain amount of stamp duty specified therein while filing an application for adjudication of the executed instrument.”

Deputy CM Ajit Pawar has presented the Rs 7 lakh crore budget for 2025-26 projecting a revenue deficit of Rs 45,891 crore, fiscal deficit of Rs 1.36 lakh crore and debt stock of Rs 9.32 lakh crore.

He had projected the state’s own tax revenue worth Rs 3.87 lakh crore for 2025-26 against the revised estimate of Ra 3.67 lakh crore in 2024-25.

Pawar had said in his budget speech that amid the constraints to propose new taxes or increase the prevailing taxes in the GST regime, he hoped to mobilise additional revenue of around Rs 1,200 crore by proposing revised stamp duty and Motor Vehicle Tax.

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Calcutta HC allows NGO to distribute relief material in communal violence-hit Murshidabad

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Kolkata, April 17: A single-judge bench of the Calcutta High Court, on Thursday, permitted a non-government organisation (NGO) to visit the communal violence-hit Murshidabad and distribute relief material among the affected people.

While granting permission to the NGO christened ‘Khola Hawa (Open Air)’, which was earlier denied permission by the district administration, the single-judge bench of Justice Amrita Sinha observed that there was no rule that organisations other than government bodies would not have permission to distribute relief materials at any place.

She also observed that the existing law and order problem could not be an excuse for denying permission, since the Central Armed Police Forces (CAPF) were already posted in Murshidabad.

The NGO approached the bench of Justice Sinha after the Murshidabad district magistrate denied permission for its members to visit the troubled spots in the district to distribute relief there. Parts of Murshidabad district in West Bengal have been on the boil last week after protests over the Waqf (Amendment) Act turned violent.

In the petition, the NGO alleged that while the district administration was allowing different political parties to reach the troubled spots with relief materials, the permission to the organisation was deliberately denied.

The matter came up for hearing on Thursday afternoon. The counsel for the NGO argued that there was no reason for the district magistrate to deny the permission since the state Director General of Police had already claimed that the situation at Murshidabad was currently more or less normal. “The NGO members want to go there to distribute relief items like tarpaulin, food, and medicines to those affected,” the counsel of Khola Hawa argued.

Although the state government opposed the arguments, Justice Sinha finally accepted the argument of the counsel of Khola Hawa and permitted the NGO to visit the troubled spots and distribute relief items there.

However, she maintained that only three members of a relief team should visit any troubled spot at a time for the time being. At the same time, these three team members would have to inform the district magistrate at least 24 hours in advance about their visit. The visiting team members, as per the court order, should also not make any provocative statements during the process of relief distribution that might trigger tension in the area again.

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International

Extreme marine heatwaves tripled over past 80 years: Study

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London, April 17: The number of days each year that the world’s oceans experience extreme surface heat has tripled over the past 80 years due to global warming, a new study has found.

Researchers found that, on average, the global sea surface saw about 15 days of extreme heat annually in the 1940s, Xinhua news agency reported.

Today that figure has soared to nearly 50 days per year, revealed the study published in the journal Proceedings of the National Academy of Sciences.

Global warming is responsible for almost half of the occurrence of marine heatwaves — periods when sea surface temperatures rise well above normal for an extended time.

The study, produced by a team of scientists from the Mediterranean Institute for Advanced Studies, the University of Reading, the International Space Science Institute, and the University of the Balearic Islands, also found that rising global temperatures are making extreme ocean heat events last longer and become more intense.

“Marine heatwaves can devastate underwater ecosystems. Extended periods of unusually warm water can kill coral reefs, destroy kelp forests, and harm seagrass meadows,” said Xiangbo Feng, a co-author of the study at the National Centre for Atmospheric Science at the University of Reading.

The impacts of marine heat waves extend beyond the ocean. The researcher warns that increased marine heatwaves could, in return, cause our atmosphere less stable leading to more frequent and powerful tropical storms in some regions.

“As global temperatures continue to rise, marine heatwaves will become even more common and severe, putting increasing pressure on already stressed ocean ecosystems. These increased marine heatwaves could, in return, cause our atmosphere less stable leading to more frequent and powerful tropical storms in some regions,” Feng said

Noting that human activities are fundamentally changing oceans, the study called for urgent climate action to protect marine environments.

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Business

US tariff hikes no longer make economic sense: China

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Beijing, April 17: A Chinese foreign ministry spokesperson said on Thursday that the United States’ 245 per cent tariff on certain products from China no longer makes economic sense.

It the US continues to play the “tariff numbers game”, it will pay no attention to it, according to the spokesperson, Xinhua news agency reported.

The statement came in the wake of White House’s statement that China faces tariffs of up to 245 per cent due to its retaliatory action.

China now faces up to 245 per cent tariffs on imports to the US as a result of its retaliatory tariffs, according to the White House Fact sheet.

This came after Beijing ordered its airlines not to take any further deliveries of Boeing jets in response to the earlier US decision to impose 145 per cent tariffs on Chinese goods.

According to the White House, the US President is open to making a trade deal with China, but Beijing should make the first move.

“More than 75 countries have already reached out to discuss new trade deals. As a result, the individualised higher tariffs are currently paused amid these discussions, except for China, which retaliated,” it said.

The White House also accused Beijing of banning exports to the US of gallium, germanium, antimony, and other key high-tech materials with potential military applications.

There are no winners in a trade conflict and the tussle between China and the US raises the risk of economic and geopolitical fallout, a report by S&P Global Ratings said this week.

Home to sizable manufacturing activities, Asia-Pacific is highly dependent on exports to the U.S. and China for growth. At the same time, Asia-Pacific depends on the US mostly for security.

The region could find itself pushed to take sides or walk a delicate line between the two large economies, the report stated.

To counteract tariffs, Asia-Pacific governments are exploring the formation of regional trade blocs or bilateral trade agreements. These efforts could accelerate, expediting the need to relocate supply sources and production.

China’s economic growth is seeing rising downside risk amid rising trade tensions with the US as its export engine falters from weaker global demand. The country’s domestic growth engine remains subdued, given the lingering real estate crisis, which is dragging down confidence.

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