According to GoI’s response to a question in Parliament, there have been 42,673 instances of input tax credit fraud, worth ₹1,66,241 cr, cumulatively over FY21 and FY25 (up to January for the last fiscal).
TK ARUN Visible rates have been cut, while rates whose impact is not directly observable by the consumer have gone up; indirect taxes have been made even more indirect. Most of us have heard the tale of the mouse that…
India’s wellness industry is booming, with PWC estimating its size at ₹490 billion, growing at a compound growth rate of around 16%. Fitness centres, yoga studios, Zumba dance classes, personal trainers, health food, and athleisure clothing proliferate. A section of the population is really taking their health and fitness into their own earnest hands, even as another section is feasting on newfound prosperity and growing obese.
Singer Madonna recently celebrated her 67th birthday, and her birthday cake came in the form of a giant Labubu toy. This signals, if anyone had anymore doubts on the score, the arrival of this stuffed toy from China as an icon of contemporary popular culture. And that, in turn, attests to a structural change in the Chinese economy, bringing it in the league of rich world economies, even if China’s per capita income is still that of a middle-income economy, albeit towards the upper end of that income range.
The bombing of Iran represents the return of old-style imperialism, making the point that might is right with the biggest bang possible without exploding an atomic bomb. Which cat got the tongue of India, leader of the Global South, when the US bombed Iran? Why did the tongue of India, leader of the BRICS, turn mute, when the world called on Israel, at the UN, to end its genocide in Gaza? Cat, Cat burning bright, in the forests of Mt Zion and Washington DC, why this appetite for India’s respect among nations?
Those who had hoped that PM Modi’s friendship with Trump would help India stave off severe tariffs should wake up to reality. The notion that the relations between nations can be shaped by personal sentiment at the highest levels now flies alongside flying carpets.