Connect with us

Business

Festive Booster: Centre Releases Tax Devolution Of Rs 1,01,603 Crore To State Govts

Published

on

Festive Booster: Centre Releases Tax Devolution Of Rs 1,01,603 Crore To State Govts


New Delhi: Amid the ongoing festive season, the Union government has released an additional tax devolution of Rs 1,01,603 crore to state governments, the Finance Ministry said on Wednesday. This is an additional amount to the normal monthly devolution, which is scheduled to be released on October 10.

According to the ministry, the decision was taken in view festive season to enable states to accelerate capital spending and finance their development and welfare-related expenditure.

Uttar Pradesh, the nation’s most populous state, got the highest–Rs 18,227 crore, followed by Bihar (Rs 10,219 crore), Madhya Pradesh (Rs 7,976 crore), West Bengal (Rs 7,644 crore), Maharashtra (Rs 6,418 crore), and Rajasthan (Rs 6,123 crore).

Add Zee News as a Preferred Source


Andhra Pradesh (Rs 4,112 crore), Odisha (Rs 4,601 crore), Tamil Nadu (Rs 4,144 crore), Karnataka (Rs 3,705 crore), and Jharkhand (Rs 3,360 crore) also received significant additional tax devolution.

Earlier, the Finance Ministry said that the Centre had transferred Rs 4,28,544 crore to state governments as devolution of share of taxes during April-July, which is Rs 61,914 crore higher than the previous year.

Meanwhile, the Central government had received Rs 10,95,209 crore during the period, which comprises 31.3 per cent of the corresponding budget estimates (BE) for 2025-26. Of this, a sum of Rs 6,61,812 crore constitutes net tax revenue to the Centre, Rs 4,03,608 crore was non-tax revenue, and Rs 29,789 crore was part of non-debt capital receipts.

Total Expenditure incurred by the union government during the time frame was Rs 15,63,625 crore, which constitutes 30.9 per cent of the corresponding BE 2025-26. Out of this total amount, Rs 12,16,699 crore was on the revenue account and Rs 3,46,926 crore is on the capital account, which is spent on large infrastructure projects. Interest payments made up Rs 4,46,690 crore of the total revenue expenditure, while major subsidies account for Rs 1,13,592 crore.



Source link

Business

The NBA doesn’t just want to build a European basketball league — it wants to revolutionize the international pro game

Published

on

The NBA doesn’t just want to build a European basketball league — it wants to revolutionize the international pro game




Source link

Continue Reading

Business

Major UK supermarket to stop selling mackerel in coming weeks

Published

on

Major UK supermarket to stop selling mackerel in coming weeks


Waitrose is set to remove mackerel from its shelves amid escalating concerns over unsustainable fishing practices.

The retailer said that it is the first major UK supermarket to suspend sourcing of the popular fish.

It said that fresh, chilled, and frozen mackerel, primarily sourced from Scottish waters, will be unavailable to shoppers by 29 April. Tinned varieties will follow once the current stock is depleted.

Conservationists are welcoming the move and urging other supermarkets to follow suit.

The measure comes as governments have repeatedly failed to implement catch limits recommended by scientists, jeopardising the long-term viability of mackerel stocks.

The International Council for Exploration of the Sea (ICES) has issued stark warnings, advising a 70 per cent reduction in catches for 2026 across all regional mackerel stocks compared to 2025’s recommended levels.

With the stock consistently fished above sustainable thresholds, this translates to a 77 per cent cut on the 755,143 tonnes scientists estimated would be caught in 2025.

Mackerel’s sustainability rating has worsened in the face of overfishing (Alamy/PA)

Overfishing has resulted in depleting mackerel stocks in the north-east Atlantic, with Ices saying the species, and the wider fishing industry, could face long-term risks unless countries stick to recommended catch limits.

Waitrose said the decision in December by four of the coastal states which fish mackerel to cut catches by 48 per cent was a step forward, but did not meet Ices advice.

North-east Atlantic mackerel will no longer meet the supermarket’s responsible sourcing requirements in line with the Sustainable Seafood Coalition codes of conduct, the retailer said.

Jake Pickering, head of agriculture, aquaculture and fisheries at Waitrose, said: “By suspending sourcing of mackerel at Waitrose we are reinforcing our ethical and sustainable business commitments, acting to tackle overfishing and protect the long-term health of our oceans and this crucial fish.

“Our customers trust us to source responsibly, and we are closely monitoring the fishery.

“We look forward to bringing mackerel back to our shelves once it meets our high sourcing standards.”

As alternatives, Waitrose is launching a new range of fish products including hot smoked herring, hot smoked peppered herring and hot smoked sweetcure seabass, all of which are Marine Stewardship Council (MSC) certified.

The retailer said it would also introduce MSC-certified frozen sardines from May as a sustainable replacement for frozen mackerel, and plans to become the first retailer to sell 100 per cent MSC tinned sardines.

Waitrose said it would maintain its relationship with its mackerel suppliers and its new supply of herring, seabass, sardines and trout will be sourced through current supplier partnerships.

But there is currently no predetermined time-frame as to when Waitrose will start sourcing mackerel again.

The International Council for Exploration of the Sea has issued stark warnings, advising a 70 per cent reduction in catches for 2026 across all regional mackerel stocks compared to 2025’s recommended levels

The International Council for Exploration of the Sea has issued stark warnings, advising a 70 per cent reduction in catches for 2026 across all regional mackerel stocks compared to 2025’s recommended levels (Alamy/PA)

Marija Rompani, director of ethics and sustainability at the John Lewis Partnership, said: “We believe sustainable food production must balance climate action, nature protection and responsible fish sourcing is fundamental to protecting our oceans.

“We will continue to work closely with suppliers and industry partners to support the recovery and responsible management of fish stocks.”

Charles Clover, co-founder of conservation charity Blue Marine Foundation, said mackerel – one of the largest remaining commercial fish stocks in the north-east Atlantic – had declined 75 per cent in the last 10 years because fishing nations, including the UK, had overfished it.

“They have put too little effort into the task of reaching agreement on a sharing arrangement – and some countries have been awarding themselves more quota than is justified by science,” he said.

“This crisis has been ignored for too long.

“We hope that this action by Waitrose sends it to the top of the political agenda. We call on other retailers to follow Waitrose’s example.”



Source link

Continue Reading

Business

If Your Salary Never Lasts Till Month-End, These 5 Mistakes Might Be Why

Published

on

If Your Salary Never Lasts Till Month-End, These 5 Mistakes Might Be Why




Source link

Continue Reading

Trending