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Budget 2026: Punjab, Telangana flag higher fiscal burden under VB-G RAM G; seek more central funds – The Times of India

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Budget 2026: Punjab, Telangana flag higher fiscal burden under VB-G RAM G; seek more central funds – The Times of India


Opposition-ruled states Punjab and Telangana on Saturday sought additional fiscal support from the Centre in the Union Budget 2026-27, arguing that the proposed Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin) (VB-G RAM G) will place a heavier financial burden on states due to its revised cost-sharing formula, PTI reported.The demands were raised at the pre-Budget meeting chaired by Union Finance Minister Nirmala Sitharaman, which was attended by finance ministers of states and Union Territories, along with Union Minister of State for Finance Pankaj Chaudhary. The meeting also saw participation from the Governor of Manipur, chief ministers of Delhi, Goa, Haryana, Jammu and Kashmir, Meghalaya and Sikkim, and deputy chief ministers of several states, including Telangana.Opposition-ruled states said the changes to the rural employment framework weaken the employment guarantee and go against the spirit of cooperative federalism.Parliament last month passed the VB-G RAM G Bill, replacing the two-decade-old Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). Under the new scheme, the Centre will bear 60 per cent of the cost and states 40 per cent, compared with the 90:10 funding pattern under MGNREGA.Punjab Finance Minister Harpal Singh Cheema strongly opposed the proposed changes, saying the new framework dilutes the employment guarantee while shifting a significant financial burden to states.“Proposed MGNREGA changes weaken employment guarantee and burden states,” Cheema said at the meeting, calling for the restoration of the original demand-driven structure and funding pattern of the scheme.Telangana Finance Minister Mallu Bhatti Vikramarka said the Union government had replaced MGNREGA with VB-G RAM G without consulting states. He noted that the shift from a 90:10 to 60:40 funding ratio would further strain state finances.He also pointed out that any additional man-days beyond the normative allocation would now have to be borne by states, which would create a serious obstacle in providing demand-based work to job seekers.“This is entirely against the spirit of cooperative federalism and starving them of funds for capital outlay, which is essential for maintaining growth momentum,” Vikramarka said.The Telangana finance minister also suggested that surcharges on income tax and corporation tax be credited to a non-lapsable infrastructure fund, from which states could receive grants for infrastructure development. Alternatively, he said, surcharges should be merged with basic tax rates to expand the divisible pool of central taxes.On GST reforms, Vikramarka said GST 2.0 may boost demand but questioned its sustainability, warning that states’ revenues could fall due to rate reductions. He called for a suitable mechanism to compensate states for any revenue loss.Punjab also sought a special fiscal package, citing the “double whammy” of border tensions and floods in 2025. On GST, Cheema said Punjab is facing an annual revenue loss of nearly Rs 6,000 crore following GST 2.0 and pressed for a predictable GST stabilisation or compensation mechanism for states.



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‘Side Hustle Generation’: Over 50% Of US Gen Z Opting For Extra Gigs Amid Economic Uncertainty

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‘Side Hustle Generation’: Over 50% Of US Gen Z Opting For Extra Gigs Amid Economic Uncertainty


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At least 57% of Gen Z in the US now have side gigs, from retail to gig work, amid economic uncertainty and concerns over the impact of AI on jobs.

Gen-Z is the first generation for whom a 9-to-5 job isn’t essential for achieving financial success.  (AI-Generated Image)

Gen-Z is the first generation for whom a 9-to-5 job isn’t essential for achieving financial success. (AI-Generated Image)

Amid widespread economic uncertainty, more than half of the Gen Z population in the United States is opting for side gigs to navigate the job market and for extra cash.

At least 57% of Gen Z in the US now have side gigs, compared to 21% of boomers and older, according to The Harris Poll, which dubbed them “America’s first true ‘side hustle’ generation.”

Most of them are picking up side hustles, from retail to gig work, for extra cash. Younger people “want to work [and] find success, but many of them just feel disillusioned with the opportunities to get there through the traditional career ladder,” Glassdoor chief economist Daniel Zhao told Axios.

Role Of AI

In an August report, Glassdoor researchers said that some of the youths are chasing creative or entrepreneurial goals. Moreover, AI and other technological advances have made it easier for professionals to monetise their skills and passions.

“We’re witnessing a true side hustle generation where work identity lives outside of traditional employment. Additional commentary and research also shows that there’s a growing number of Employee+ workers who diversify income streams without abandoning job security,” Glassdoor said.

“For Gen Z, the day job funds the passion project. Work pays the bills, but identity and fulfilment can come from entrepreneurial pursuits, creative endeavours, or social causes they care about,” it added.

Why Are Gen-Z Opting For Side Gigs?

One of the main reasons for this shift is job anxiety. Recent graduates are struggling to secure jobs, while those with them aren’t seeing the career growth they expect, according to Zhao.

Data shows that the financial optimism for college students has fallen to their lowest level since 2018, mostly due to concerns over unemployment and ‘AI-induced layoffs’. The advent of AI remains the most pressing concern among young workers.

As per The Harris Poll, Gen Z is the first generation for whom a 9-to-5 job isn’t essential for achieving financial success. Side hustles are not merely distractions or fallback options; they are central to Gen Z’s identity, offering creative, entrepreneurial, or activist outlets that main jobs cannot supply.

“It definitely makes me feel more financially secure,” Katie Arce, who works full-time in e-commerce and picks up shifts at a vintage clothing store in Austin, Texas, told Axios.

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‘Political Stability Has Powered India’s Growth’: PM Modi At Vibrant Gujarat Conference

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‘Political Stability Has Powered India’s Growth’: PM Modi At Vibrant Gujarat Conference


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PM Modi further emphasised that over the past 11 years, India has emerged as the largest data consumer and built the country’s largest real-time digital platform.

PM Modi speaking at the inauguration of Vibrant Gujarat Regional Conference. (PTI)

PM Modi speaking at the inauguration of Vibrant Gujarat Regional Conference. (PTI)

Prime Minister Narendra Modi on Sunday said that India’s political stability and strong macroeconomic fundamentals are driving global investor confidence, with Gujarat emerging as a key anchor of the country’s growth story.

While addressing the Vibrant Gujarat Regional Conference in Gujarat, the Prime Minister highlighted India’s economic trajectory, saying that the country is the world’s fastest-growing major economy, with inflation under control and a strong foundation for long-term growth. He said that reform express is driving India’s journey to developed nation status.

He highlighted that India is the largest producer of milk and a leading manufacturer of generic medicines, reflecting the country’s growing strength in both agriculture and pharmaceuticals.

He noted that global institutions are increasingly bullish on India, with the International Monetary Fund (IMF) describing the country as the engine of global growth.

“India is the world’s 3rd largest startup ecosystem, 3rd largest aviation market, we are in the top 3 metro networks of the world,” he said, asserting that the country is heading to become the world’s 3rd largest economy.

PM Modi further emphasised that over the past 11 years, India has emerged as the largest data consumer and built the country’s largest real-time digital platform. He highlighted that India is now the second-largest mobile manufacturer, whereas earlier the country imported nine out of ten phones.

The Prime Minister also underlined Gujarat’s contribution to India becoming the world’s third-largest economy, noting that the state has grown across sectors. He said regions like Saurashtra and Kutch, once seen as remote, have now become major drivers of Atmanirbhar Bharat and investment-led growth.

Highlighting Saurashtra’s manufacturing strength, with over 2.5 lakh MSMEs producing goods ranging from basic tools to high-precision aircraft components, PM Modi pointed to the region hosting the world’s largest ship-breaking yard and being a major hub for tile manufacturing.

He further said that India’s first semiconductor fabrication plant is coming up in Dholera, with the land ready and a predictable policy environment supporting long-term growth.

Vibrant Gujarat Regional Conference

PM Modi on Sunday inaugurated the Vibrant Gujarat Regional Conference for the Kutch and Saurashtra regions.

The event saw the presence of Gujarat Chief Minister Bhupendra Patel and Deputy Chief Minister Harsh Sanghavi, among other dignitaries.

He also inaugurated 13 New Smart Industrial Estates in 7 Districts (Amreli, Bhavnagar, Jamnagar, Kutch, Morbi, Rajkot and Surendranagar) spanning an area of over 3540 Acres by Gujarat Industrial Development Corporation before his address on Sunday.

The two-day conference summit will highlight Gujarat’s leadership in the clean energy sector and its alignment with India’s ‘Panchamrit’ commitments announced by the Prime Minister. These include achieving 500 GW of non-fossil energy capacity by 2030, meeting 50 per cent of energy requirements from renewable sources, reducing projected carbon emissions by 1 billion tonnes, lowering carbon intensity by 45 per cent by 2030, and attaining net-zero emissions by 2070.

News india ‘Political Stability Has Powered India’s Growth’: PM Modi At Vibrant Gujarat Conference
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EV adoptions gathers pace in 2025: Sales hit 2.3 million units; UP, Maharashtra lead sales – The Times of India

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EV adoptions gathers pace in 2025: Sales hit 2.3 million units; UP, Maharashtra lead sales – The Times of India


India sold were at 2.3 million units of electric vehicle in 2025, making up 8 per cent of all new vehicle registrations, according to a new report by the India Energy Storage Alliance, based on Vahan Portal data, cited by ANI. This boost was driven by incentives offered by the government and festive seasons. The majority portion of the sales were two-wheelers at 1.28 million units.The total registrations recorded in the overall passenger car market in the year 2025 stood at 28.2 million. Two-wheelers marked the most registrations 20 million registrations, while passenger cars were at 4.4 million and agricultural vehicles recorded 1.06 million. The recorded sales rose steadily throughout the year though slightly improved in the festival seasons due to GST benefits.Electric two-wheelers were the stars of the EV market, grabbing 57 per cent of sales. Three-wheelers came second with 0.8 million units (35 per cent), while four-wheelers logged 175,000 units. The report spotted good progress in electric delivery vehicles, especially in smaller commercial segments.Uttar Pradesh was at the forefront in this, with 400,000 units sold, taking an 18 percent market share in India’s EV segment. Maharashtra followed, with 266,000 units sold, contributing 12 percent to the segment, followed by Karnataka, with 200,000 units sold, contributing 9 percent to the market. The three accounted for over 40 percent in the country’s EV sales.Some smaller states recorded a very encouraging uptake of EVs. Delhi, Kerala, and Goa were able to reach an EV-to-ICE ratio of 14 percent, 12 percent, and 11 percent respectively. Meanwhile, states from the Northeast, Tripura, and Assam, achieved ratios of 18 percent and 14 percent, respectively.A major achievement was recorded in the three-wheeler segment, which attained a market penetration of 32 per cent. The government also created a record with their biggest ever order of electric buses—10,900 unit—valued at a massive Rs 10,900 crore through the PM E-DRIVE scheme.The report also stated that that while smaller vehicles led EV adoption, government efforts to electrify larger commercial vehicles and develop charging infrastructure were setting up India’s EV sector for continued growth beyond 2025.



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