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The <keyword id="19897865" type="General" weightage="20" keywordseo="telangana-government" source="keywords">Telangana Government</keyword> on Tuesday requested the 16th <keyword id="20015455" type="General" weightage="20" keywordseo="finance-commission" source="keywords">Finance Commission</keyword> to increase the share of states in <keyword id="386992" type="General" weightage="100" keywordseo="central-taxes" source="Orion">Central taxes</keyword> from the existing 41 per cent to 50 per cent as over the years cesses and surcharges that are not shared with states have increased. Deputy Chief Minister in-charge of Finance <keyword id="21396591" type="General" weightage="20" keywordseo="bhatti" source="keywords">Bhatti</keyword> Vikramarka in his speech at the meeting with Finance <keyword id="19933395" type="General" weightage="20" keywordseo="commission" source="keywords">Commission</keyword> Chairman <keyword id="20016026" type="General" weightage="20" keywordseo="arvind-panagariya" source="keywords">Arvind Panagariya</keyword> and members also urged the finance panel to ensure that states are given the necessary autonomy to tailor <keyword id="20109166" type="General" weightage="20" keywordseo="css" source="keywords">CSS</keyword> (centrally-sponsored scheme) programmes to their specific development needs. "In addition, we propose increasing the share of states in Central taxes from 41 per cent to 50 per cent. Over the years, cesses and surcharges that are not shared with states have increased, leaving states with a smaller share of total gross tax revenue," he said. Increasing the vertical devolution will give states the fiscal space they need to strengthen welfare programmes, address infrastructure gaps and prioritise local development, he further said. He, however, said it is not just a demand for <keyword id="19909031" type="General" weightage="20" keywordseo="telangana" source="keywords">Telangana</keyword> but for all states, ensuring a more cooperative federal structure that will benefit the nation as a whole. Bhatti further said the state government urges the Finance Commission to reconsider the use of per capita income distance as the primary indicator in determining horizontal devolution as measuring prosperity and well-being solely by per capita income would deny Telangana the resources needed to address the inequities that exist within the state. The state government is suggesting that the formula for horizontal devolution be modified to add at least a 50 per cent weightage to <keyword id="20149362" type="General" weightage="20" keywordseo="gsdp" source="keywords">GSDP</keyword> (gross state domestic production) contribution. "A greater weight on GSDP would incentivise states to adopt reforms that improve productivity, attract investment and create jobs, ultimately contributing to the national economy. This approach would not only make states more competitive but also help reduce regional disparities, encouraging more balanced growth across the country," he opined. Pointing out that certain expenditures for schemes such as Rythu Bharosa, farm loan waivers and food subsidies are often mislabelled as "freebies," he urged the Commission to recognise these programmes as necessary investments in the welfare of our people. He mentioned that a large part of the state's resources is now being diverted toward debt servicing and hence requested the Finance Commission's support in either restructuring this debt or providing additional assistance to help free up resources for further development. The 16th Finance Commission, led by its chairman Arvind Panagariya, held meetings with several political parties, representatives of local bodies and industry chambers here on Monday as part of its visit to Telangana.

Telangana urges 16th Finance Commission to increase states' share in Central taxes to 50%

New Delhi: <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> has demonstrated a largely successful inflation targeting regime compared to advanced economies such as the USA, Germany, and France, according to a research report by the <keyword id="19934368" type="General" weightage="100" keywordseo="state-bank-of-india" source="keywords">State Bank of India</keyword> (SBI). The report credits government initiatives, the <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>, and banks for addressing these issues over the past decade, allowing for better policy transmission and improved inflation management. "The success of Inflation Targeting in India is largely a byproduct of a vibrant financial ecosystem where <keyword id="23140158" type="General" weightage="20" keywordseo="rbi-government" source="keywords">RBI, Government</keyword> and the Banks are working closely in unison in ushering in market reforms" said the report The report highlighted that India experienced minimal deviations from its inflation targets between 2021 and 2024, setting it apart from other global economies facing greater inflationary challenges. It added that during 2021-2024, India recorded one of the lowest deviations from its inflation targets, highlighting the effectiveness of its inflation control measures. This success, the report points out, is largely a result of coordinated efforts between the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) and the central government. "India had a largely successful inflation targeting regime. Compared to advanced economies like the USA, Germany" said the report. As per the report the synchronization of monetary and fiscal policies, particularly during the pandemic, played a key role in maintaining price stability. It also emphasized that India's pre-inflation targeting regime faced several challenges that hindered the effective transmission of monetary policy. These challenges included sustained fiscal dominance, the presence of a large informal sector, significant informal financing, and inefficiencies in how banks priced their loan products. "Effectiveness of monetary policy in India's pre-Inflation Targeting regime was constrained by several India specific factors that affected transmission of the policy impulses through the interest rate channel" the report added. However, one of the key arguments in the report is that the RBI's inflation targeting has anchored inflationary expectations, even as food inflation remains high. The notion that headline inflation should exclude food prices was dismissed as counterfactual by the report. According to the study, the RBI's success in targeting inflation, despite food price volatility, has prevented a spill-over from food inflation to core inflation. The report stressed that the RBI's consistent communication of its inflation target--set at 4 per cent--has been crucial in successfully anchoring inflation expectations. By reinforcing its commitment to this target, the RBI has helped stabilize inflationary trends across the broader economy. The SBI report reinforces India's effective monetary policy framework, particularly in light of the global inflationary pressures seen in advanced economies like the US and Germany.

India handled inflation much better than US, Germany and France: SBI Report

Chennai (Tamil Nadu) [India], July 15 (ANI): <keyword id="19906966" type="General" weightage="100" keywordseo="Ashok-Leyland" source="keywords" meta.keywordsubtype="org" meta.entityname="Ashok Leyland" meta.hostid="265" meta.entityid="Ashok Leyland">Ashok Leyland</keyword> has announced that the company has secured the single largest fully built bus order from the <keyword id="20577309" type="General" weightage="20" keywordseo="Maharashtra-State-Road-Transport-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Maharashtra State Road Transport Corporation" meta.hostid="265" meta.entityid="Maharashtra State Road Transport Corporation">Maharashtra State Road Transport Corporation</keyword> (<keyword id="20276774" type="General" weightage="20" keywordseo="MSRTC" source="keywords">MSRTC</keyword>) for 2,104 units of Viking passenger buses. According to a press release, the total consideration for this order is approximately Rs 981.45 Crores. The execution period for this contract spans from August 2024 to August 2025. MSRTC operates a fleet of over 15,000 buses. With this substantial order, Ashok Leyland buses will now dominate its fleet. These modern, fully built buses will comply with the latest Central Motor Vehicle Rules (CMVR) standards and feature AIS 153 compliant bodies. The order, awarded by the domestic entity MSRTC, is for the supply of BSVI OBD II Diesel Fuel Type Fully Built Passenger Buses. MSRTC, one of India's largest state transport undertakings, operates a fleet of over 15,000 buses. With this substantial order, Ashok Leyland buses will now dominate its fleet. These modern, fully built buses will comply with the latest Central Motor Vehicle Rules (CMVR) standards and feature AIS 153 compliant bodies. They will also be equipped with the proven iGEN6 BS VI OBD II technology, boasting a 197 HP H-Series Engine and Rear Air Suspension, among other advanced features. The buses will be manufactured at Ashok Leyland's exclusive bus body plants using state-of-the-art technology, ensuring enhanced safety, improved comfort, and a lower total cost of ownership for MSRTC. Shenu Agarwal, Managing Director and CEO of Ashok Leyland, expressed his excitement about the continued partnership with MSRTC. He stated, "We are excited to continue our long-standing partnership with the Maharashtra State Road Transport Corporation (MSRTC). This new order underscores our dedication to producing highly efficient and technologically advanced products, driving the growth of public transportation in the country." He added, "Our deep understanding of our customers and our ability to quickly respond to their needs is what sets us apart." Echoing this sentiment, Sanjeev Kumar, President of Medium and Heavy Commercial Vehicles (M&amp;HCV) at Ashok Leyland, remarked, "We are thrilled to have received this order from MSRTC. The order win emphasizes the confidence and trust our customers have in our products. Specifically tailored to meet the unique requirements of Maharashtra State Road Transport Corporation, our buses stand as a testament to the reliability, durability, and robustness of our products." He added, " We are proud to offer MSRTC and the people of Maharashtra a modern fleet that ensures superior comfort and the highest standards of safety. This order reflects the trust that our customers place on Ashok Leyland." As one of the top five largest bus manufacturers globally, Ashok Leyland's recent order further consolidates its position in both the Indian and global bus markets.

Ashok Leyland bags single largest order of 2,104 fully built buses from Maharashtra government

In a bid to support meritorious and deserving Indian students to pursue their higher education without having to worry about funds, the government today announced the <keyword id="23831216" type="General" weightage="100" keywordseo="PM-Vidyalaxmi-scheme" source="keywords">PM-Vidyalaxmi scheme</keyword>. Here's all you need to know about it: The scheme will cover students who secure admission to one of the top 860 higher educational institutions in the country. In effect, this is set to benefit over 22 lakh students annually. You can apply for this loan via a soon-to-be launched consolidated PM-Vidyalaxmi portal. The loan application will be entirely digital and will not require collateral or assets to be pledged in place of a loan or even a guarantor. For loans up to Rs 7.5 lakh, the government will provide a 75% credit guarantee. If your family's annual income is up to Rs 8 lakh, you are eligible for receiving loans up to Rs 10 lakh at an interest rate of up to 3% lower rates. This support will be offered to around 1 lakh students every year, and those who opt for technical or professional courses from government-run institutions will be given preference for the same. The government has already set aside Rs 3,600 crore for the same, to be utilized between 2024 and 2031, benefiting 7 lakh students in this period. All eligible students whose family's annual income falls below the Rs 4.5 lakh threshold will receive a full subsidy on interest payable. As for which higher education institutions (HEIs) will qualify, it will depend on recent NIRF (National Institutional Ranking Framework) rankings. This will include: <ul><li>All centrally governed institutions</li><li>Public and private institutions that have made it to NIRF's top 100 rankings in the overall, category, and domain-specific categories</li><li>All state government HEIs that are ranked between 101 and 200 in <keyword id="22759868" type="General" weightage="20" keywordseo="NIRF-rankings" source="keywords">NIRF rankings</keyword> will also be eligible.</li></ul> <h2>Rising cost of education</h2> Data from NSSO (National Sample Survey Office) highlights that the average expenditure on education in India has doubled in the last decade. Per the All India Survey on Higher Education 2020-21, the tuition fees for engineering courses in most private institutions have already risen by 50% over the past 10 years. Education inflation currently stands high, at about 11–12%. The demand for educational loans is also inching up steadily. Per RBI data, as of September 20, 2024, the total quantum of outstanding education loans stood at Rs 62,389 crore, up 2.8% from Rs 60,715 crore in September 2023. India's largest lender, the State Bank of India, leads the education loan bandwagon, with disbursals worth Rs 10,860 crore in FY24.

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Telangana urges 16th Finance Commission to increase states' share in Central taxes to 50%

PTI

India handled inflation much better than US, Germany and France: SBI Report

ANI

Ashok Leyland bags single largest order of 2,104 fully built buses from Maharashtra government

ANI

Lack of funds stopping you from pursuing higher education? The government can come to rescue

BI India Bureau

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