India may not Import Bullet Trains from Japan After Failed Price Talks and Revised Project Guidelines
India has decided to abandon the import of Shinkansen (bullet) trains from Japan for its Mumbai-Ahmedabad High-Speed Rail (MAHSR) project and instead opted for a "Make-in-India" approach. The contract for manufacturing the trains has been awarded to a joint venture between BEML Ltd and Medha Servo Drives, makers of Vande Bharat trains. This decision follows stalled negotiations over the cost, land acquisition delays, and changes to the project's technical specifications. Despite these setbacks, Japan International Cooperation Agency (JICA) remains committed to funding the project, with the first bullet train expected to be operational by 2027.
Gautam Adani charged in New York with massive fraud and bribery: What This Means and What Happens Next
A grand jury in New York has indicted Indian business tycoon Gautam Adani and his nephew Sagar Adani on charges of bribing Indian government officials to secure solar energy contracts worth $265 million (around Rs 2,029 crore). The charges, issued on November 20, also implicate seven others in the alleged scheme. US prosecutors accuse the Adani Group of defrauding American investors through corruption. Following the indictment, the case will proceed to an arraignment, where the accused will face the charges and decide whether to plead guilty or not guilty, with a potential trial to follow.
Zomato is hiring a Chief of Staff: Pay ₹20 lakh to work for free for a year
Zomato CEO Deepinder Goyal has announced a unique job opportunity for a Chief of Staff position at the company’s Gurugram headquarters. The role comes with an unconventional condition: no salary in the first year and a requirement for the candidate to pay Rs 20 lakh, which will be donated to Feeding India, Zomato’s non-profit. Goyal clarified that the role is for those who want to learn and grow rather than pursue financial perks. From the second year onwards, the selected candidate will receive a competitive salary exceeding Rs 50 lakh annually.
Telangana Govt announces 100% exemption on road tax, registration fees for electric vehicles
The Telangana government has introduced a 100% exemption on road tax and registration fees for electric vehicles (EVs) to promote eco-friendly transportation and reduce urban air pollution. The policy, effective until December 31, 2026, covers a range of EVs, including two-wheelers, four-wheelers, three-wheelers, electric buses, and light goods carriers. Special provisions are made for electric buses, with indefinite exemptions for those operated by the Telangana State Road Transport Corporation (TSRTC) and private companies using buses for employee transport. This initiative aims to make EVs more affordable and support the state's sustainability goals.
Number of Taxpayers Earning Over ₹1 Crore Soars 323% to 350,000 in 10 Years
The number of taxpayers earning over ₹1 crore has surged by 323% from 82,836 in 2013-14 to 3,50,129 in 2023-24, signaling the success of the government's efforts to widen the tax base. Meanwhile, the total number of income-tax assesses has increased by 120% over the past decade to 7.92 crore. Significant growth has also been seen in higher income brackets, with taxpayers earning between ₹50 lakh and ₹1 crore rising by 440%. Thanks to improved compliance and anti-tax evasion measures, the burden on middle-class taxpayers has eased, with the average tax paid by those in the ₹10-15 lakh and ₹15-20 lakh income brackets significantly reduced. The number of zero-income tax return filers has also grown substantially, from 18 million in 2014 to 49 million in 2024.
