The Narendra Modi government plans to streamline the GST framework after making significant changes to personal income tax and customs tariffs. The initiative aims to restructure the GST slabs for better outcomes and resolve complexities that create compliance challenges, possibly through a simplified three-rate structure.
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ChatGPT gained one million users within an hour following the release of its free Ghibli-style image generation feature, powered by GPT-4. OpenAI CEO Sam Altman announced this unprecedented surge, comparing it to the app's initial viral success. The new feature's popularity led to temporary limitations on free image generations to prevent overwhelming OpenAI's GPUs.
Zomato's global head of finance, Hemal Jain, resigned after six years with the company. Her departure follows a recent Rs 803 crore GST demand notice against Zomato. This marks the second senior management exit in recent months, following co-founder Akriti Chopra's resignation in September.
India's central government has drafted legislation to combat predatory lending practices by unregulated entities, including digital platforms. The proposed law introduces penalties of up to seven years imprisonment for illegal lenders and up to 10 years for those engaging in harassment and unlawful recovery tactics.
A wild elephant caused panic at a college in Kanas area, Puri district, by wandering onto the campus and prompting the suspension of classes for safety. Local forest officials promptly managed to drive the elephant away, ensuring no injuries or damage.
India's success in the 2025 ICC Champions Trophy may heavily rely on the seasoned pacer Mohammed Shami. His skillset and experience are crucial, especially with Jasprit Bumrah sidelined due to injury. Astrologer Greenstone Lobo suggests that Shami's astrological chart indicates a prominent role in India's potential victory in the ICC tournament.
Indian commercial banks wrote off Rs 12.3 lakh crore in loans between FY15 and FY24. Public sector banks accounted for Rs 6.5 lakh crore of write-offs in the last five years. Write-offs peaked in FY19 at Rs 2.4 lakh crore and fell to Rs 1.7 lakh crore in FY24. Banks continue recovery efforts despite write-offs, which do not waive borrower liabilities.
US President Donald Trump has accused the allocation of USD 21 million for voter turnout in India as a 'kickback scheme.' The BJP echoed these claims, alleging the funds were used to support 'deep-state assets' in India. GOP leaders are calling for an investigation to determine if the Congress party benefited from these kickbacks.
Starlink faces a potential 3% spectrum tax on its adjusted gross revenue in India. This tax, alongside an 8% license fee, could increase service costs for the company. Discussions by Trai on pricing and taxes for satellite spectrum allocation are ongoing, with final recommendations expected soon.
Rahul Gandhi criticized Prime Minister Modi's government, asserting that no Dalit, tribal, or backward class individuals will be seen with Finance Minister Nirmala Sitharaman before the Union Budget. He highlighted a lack of representation among budget-preparing officers. Gandhi acknowledged Congress's past failures to protect marginalised communities' interests, suggesting this allowed RSS to gain power.
Leader of opposition Rahul Gandhi further accused Lok Sabha speaker Om Birla of making an unsubstantiated remark and not allowing him to respond, leading to an adjournment of the House. Gandhi expressed frustration over being consistently prevented from speaking in the Lok Sabha, particularly about the Kumbh Mela and unemployment.