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  • Tax Collection: Good news before the budget, government’s income from direct tax increased by 24%

    Direct Tax Collection: Finance Minister Nirmala Sitharaman is going to present the budget on July 23. Before that, the tax collection figures have filled the government treasury…

    The central government has received great good news before the full budget for the financial year 2024-25. Actually, the government is earning a lot from direct tax and so far this year, it has seen a growth of more than 24 percent. This has been revealed by the latest data.

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    The figure reached close to Rs 5.75 lakh crore

    According to the latest data released by the Central Board of Direct Taxes (CBDT) on Friday, the net direct tax collection has increased by 24.07 percent so far this year to Rs 5.74 lakh crore. This figure is till July 11, 2024. In the same period a year ago, the government had earned Rs 4.80 lakh crore from direct tax.

    According to CBDT data, corporate tax has contributed Rs 2.1 lakh crore to this figure of net collection of direct tax. On the other hand, personal income tax has contributed Rs 3.46 lakh crore to the total collection. The personal income tax collection figure also includes the income from securities transaction tax i.e. STT.

    Also Read: Vande Bharat: Vande Bharat’s first sleeper will run on this route! Know details instantly

    This much was earned in the month of June

    The government earned more than Rs 4.50 lakh crore from tax collection in the month of June alone. CBDT figures show that in the month of June, the government got a total of Rs 4.62 lakh crore from the collection of direct taxes. This figure is 20.99 percent more than the income from direct taxes in June 2023. The collections made during the month of June include corporate tax of Rs 1.8 lakh crore and personal income tax of Rs 2.81 lakh crore.

    The figure had increased so much last year

    Direct tax collection had given great relief to the government during the last financial year as well. During the entire financial year 2023-24, the government’s direct tax collection grew by 17.7 percent on an annual basis and the total figure stood at Rs 19.58 lakh crore. During the last financial year, the contribution of personal income tax was significant in this increase. The contribution of personal income tax in the total collection increased to 53.3 percent, while the contribution of corporate tax decreased to 46.5 percent.

    The budget is going to come after a week and a half

    This tax collection figure has come at a time when the government is going to present a new budget after about a week and a half from now. The new session of Parliament is starting from July 22 and on the second day of the session i.e. on July 23, Finance Minister Nirmala Sitharaman is going to present the full budget for the financial year 2024-25.

     

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  • Nepal landslide: 65 people, including 7 Indians, believed to be missing as 2 buses get swept away

    Nepal landslide 1
    Search and rescue operations after the Nepal landslide. Photo courtesy: X/@NepaliArmyHQ

    At least 65 people, including seven Indian nationals, are believed to be missing after two buses were swept away by a landslide in Nepal and pushed into a swollen river today, according to media reports.

    The two buses carrying 65 passengers went missing in the Trishuli River in the landslides at Simaltal area along the Narayanghat-Mugling road in Chitwan district, reported myRepublica news portal, quoting officials.

    Chief District Officer of Chitwan, Indradev Yadav, confirmed the incident. According to Yadav, the Kathmandu-bound Angel Deluxe bus and the Gaur-bound Ganpati Deluxe bus, coming from Kathmandu, met with the accident around 3.30am today — 24 people were onboard the bus travelling to Kathmandu; and 41 on the bus travelling to Gaur, police said.

    Three of the passengers on the Ganpati Deluxe bus managed to escape after jumping out of the vehicle, The Kathmandu Post reported.

    Nepal landslide 2
    The buses were swept away in the Trishuli River. A few passengers managed to jump out. Photo courtesy: X/@NepaliArmyHQ

    Details have been received of 21 passengers travelling from Birgunj to Kathmandu on the Angel Deluxe bus. According to the latest information, police have said that there were seven Indian nationals among the passengers on this bus, myRepublica reported.

    Yadav said that the rescue workers had started clearing the landslide debris.

    Expressing grief over the disappearance of the bus in the Trishuli River, Nepal Prime Minister Pushpa Kamal Dahal ‘Prachanda’ issued directives for immediate search and rescue operations.

    “I am deeply saddened by the loss of nearly five dozen passengers and the loss of property due to floods and landslides in different parts of the country when a bus was washed away by a landslide on the Narayangadh-Muglin road section. I direct all agencies of the government, including the home administration, to search and effectively rescue the passengers,” Prachanda posted on X.

    Nepal Police and Armed Police Force personnel were heading towards the incident sites for rescue operations, said Superintendent of Police Bhawesh Rimal.

    Debris from landslides at various places obstructed traffic on the Narayanghat-Mugling road section.

    In a separate incident, at least 11 people died in landslides and floods triggered by incessant rain in the Kaski district yesterday.

    More than 1,800 people have lost their lives in a decade due to monsoon disasters. During this period, about 400 people went missing and more than 1,500 people were injured in these disasters.

  • 8th pay commission implementation will increase basic pay and allowance- know full benefits

    8th pay commission implementation will increase basic pay and allowance- know full benefits
    8th pay commission implementation will increase basic pay and allowance- know full benefits

    8th Pay Commission News: When the 8th Pay Commission is implemented, the basic salary of the employees will increase with the increase in the fitment factor, and a big increase in allowances is also expected.

    The 7th Pay Commission is currently in force in the country and the 8th Pay Commission is to be implemented after one and a half years. The central government implements a new pay commission every 10 years. Since the 7th Pay Commission was implemented in January 2016, the recommendations of the 8th Pay Commission can be implemented from January 2026. The Modi government at the Center can start preparations for the next Pay Commission soon and there is a buzz that some announcement regarding this can also be made in the upcoming budget.

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    More than one crore employees and pensioners will benefit

    Shiv Gopal Mishra, Secretary of the National Council of Joint Consultative Machinery for Central Government Employees, has written a letter to the Central Government. In this, a demand has been made for the formation of the 8th Pay Commission. The formation of the 8th Pay Commission will benefit about 49 lakh government employees and 68 lakh pensioners, that is, more than 1 crore people will be able to benefit from it.

    Also Read: Good news for 1 crore central employees and pensioners! Proposal received to give 18 months’ DA arrears

    Budget 2024-25 will come on 23 July

    Finance Minister Nirmala Sitharaman will present the General Budget 2024-25 on July 23. The Central Government Employees Union is demanding the formation of the 8th Pay Commission in the upcoming budget. Not only this, the employees and workers have also prepared and submitted a proposal for this.

    How much will the salary of employees increase

    It is expected that their salary will also be increased with the increase in the fitment factor under the 8th Pay Commission. The fitment factor is the main formula that helps in calculating the salary and pay matrix of employees under the 8th Pay Commission.

    What can be the fitment factor in the 8th pay commission

    According to a recent report by Financial Express, the fitment factor can be set at 3.68 times. If this happens, the basic salary will increase by Rs 8000 due to the increase in the fitment factor in the 8th Pay Commission. After this, the minimum basic salary of government employees will increase from Rs 18,000 to Rs 26,000. An increase of between 25-35 percent can be seen in the total income including basic salary and dearness allowance.

    What was the fitment sector in the 7th pay commission

    In the 7th Pay Commission, a fitment factor of 2.57 times was introduced which increased the minimum salary by about 14.29 percent. After this, the minimum salary became Rs 18 thousand.

    These things will change with the new pay commission

    The 8th Pay Commission will see an increase in the basic pay, allowances, pension and other monetary benefits. First of all, the salary of the employees will increase. Since the Pay Commission itself prepares the formula for deciding Dearness Allowance (DA) for employees and Dearness Relief (DR) for pensioners and other allowances.

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  • One Inc Completes ClaimsPay® Installation for Zurich North America

    Zurich prospects and claimants experiencing easy and environment friendly claims cost choices.

    FOLSOM, Calif. – June 26, 2024 – One Inc, the main funds community for the insurance coverage business, introduced in the present day that Zurich North America has efficiently applied One Inc’s digital claims cost system for outbound claims cost capabilities. Zurich is among the largest suppliers of economic and threat administration options in North America and pays out a whole bunch of 1000’s of claims yearly on behalf of – and for – its prospects.

    ClaimsPay® gives insureds and different claimants digital choices and close to real-time capabilities that aren’t accessible by means of conventional paper verify funds. One Inc.’s cloud-based funds enable quicker supply choices for how prospects and claimants obtain claims funds. This is finished by means of a wide range of cost choices and helps single and multi-party, in addition to vendor-related funds.

    “Implementation of ClaimsPay® has match properly into our customer-focused technique,” stated Keith Daly.” Chief Claims Officer for Zurich North America. “Through digital improvements akin to this providing from One Inc., we’ve got given our prospects and different claimants, a sturdy digital cost community that simplifies the claims course of and enhances their total claims expertise.”

    Since implementation started, Zurich claimants have reacted positively to their ClaimsPay® choices. When selecting between digital strategies and conventional paper checks thus far, greater than 95 p.c have chosen an digital cost possibility. “We listened to suggestions from our threat supervisor prospects who informed us they needed fashionable options for managing their distinctive insurance coverage wants together with easy claims cost processes,” Daly added. “Our implementation of One Inc,’s ClaimsPay® is a testomony to that.”

    “Digitizing claims is a transformative initiative for any insurer, and we’re thrilled to be chosen by Zurich, an organization that’s acknowledged for offering worth to their policyholders,” stated Ian Drysdale, Chief Executive Officer at One Inc. “As carriers additional diversify their coverage choices and place extra give attention to enhancing their claims workflow, it’s essential to work with a expertise associate who understands their operational complexities and has the trusted business data in processing claims throughout their product traces.”


    Neel Achary

  • STN Inc. Recognized on the Prestigious 2024 CRN Solution Provider 500 List

    STN Inc. Recognized on the Prestigious 2024 CRN Solution Provider 500 List

    Pleasanton, CA, May 29, 2024 –STN, Inc., is proud to announce that CRN®, a model of The Channel Company, has ranked STN #450 on its 2024 Solution Provider 500 listing, for the second 12 months in a row.

    CRN’s annual Solution Provider 500 acknowledges North America’s largest answer suppliers by income and serves as a outstanding benchmark of lots of the channel’s most profitable firms. This 12 months’s listing of firms represents mixed income of greater than $501.2 billion, and the honorees are amongst the prime influencers driving momentum in the IT business and the international know-how provide chain.

    Strategy

    STN believes understanding the place our shoppers have to take their enterprise is considered one of the most important facets of know-how adoption. We embody all sides of a company to create a technique that displays their enterprise necessities into their know-how implementation.

    Innovation

    Innovation is an important proponent in our capability to supply the better of breed options, which ends up in disruptive applied sciences propelling firms to new heights.

    Consulting

    Vendor agnostic consulting offers an unbiased and optimum strategy to fixing the most advanced enterprise points.

    “Ranking on CRN’s 2024 Solution Provider 500 acknowledges the service improvements and market responsiveness of the listing’s main know-how integrators, managed service suppliers, and IT consulting companies,” mentioned Jennifer Follett, VP, U.S. Content, and Executive Editor, CRN, The Channel Company.

    “These firms have proven an unflagging dedication to enterprise agility, continued development, and future success by means of a interval of fast IT channel change, together with the enlargement of Everything as a Service and GenAI disruption. Our congratulations go to every firm named to this 12 months’s Solution Provider 500!”


    Praveen

  • Chaitanya Korra: Driving Sustainable Innovation at Amazon.com Inc

    Chaitanya Korra

    Chaitanya Korra

    In the bustling world of architecture and sustainability, few names command as much respect and admiration as Chaitanya Korra. With a career steeped in groundbreaking innovation and a passion for environmental stewardship, Chaitanya stands at the forefront of driving transformative change within the industry. But what lies beyond the accolades and accomplishments of this remarkable individual? Join us as we delve into the captivating journey of Chaitanya Korra, where architectural prowess meets an unwavering commitment to sustainability.

    Chaitanya is an accomplished Architect and Sustainability leader with remarkable achievements and contributions to industrial and commercial projects throughout his career. He currently serves as a Real Estate Design Program Manager at Amazon.com Inc., where he has been instrumental in establishing templates and standards for building design and sustainability across Amazon’s global warehouses. His commitment to environmental stewardship has led to the implementation of eco-friendly practices, benefitting both the company and the communities it serves.

    Guiding cross-disciplinary teams, Chaitanya has orchestrated remarkable successes, effectively reducing building carbon emissions by over 30% in each project, in line with Amazon’s ambitious goal of achieving net-zero carbon emissions by 2040. Through innovative strategies such as integrating natural landscaping, implementing electric HVAC systems, and prioritizing eco-friendly materials, he has not only realized substantial cost savings of $2 million per project but also achieved a notable 30% reduction in CO2 emissions compared to baseline levels. These initiatives not only advance sustainability objectives but also enhance cost-effectiveness, firmly aligning with Amazon’s steadfast commitment to responsible corporate citizenship.

    Furthermore, Chaitanya’s dedication to architectural innovation has resulted in significant cost savings, exceeding $9 million. Through the optimization of design standards and the enhancement of operational efficiency, he successfully realized a 4.5% reduction in real estate construction costs for a vast 1.3 million square foot warehouse building, alongside expediting design schedules by as much as 24 weeks. His development of a playbook framework has streamlined program processes, elevating efficiency levels and bolstering customer satisfaction for forthcoming projects.

    Chaitanya’s expertise extends beyond Architecture; he possesses a keen understanding of the intricate relationship between architectural design and environmental impact. A graduate in Architecture with a focus on sustainability from the University of New Mexico, coupled with an MBA specializing in operations and supply chain sustainability from Western Governors University, Chaitanya’s educational background underscores his commitment to excellence.

    His dedication and passion have earned accolades from his peers and superiors alike. Subhashree Rengarajan, a Senior Design Manager at Amazon, commends Chaitanya for his proactive approach in addressing persisting workforce concerns that have stymied the development of future buildings, demonstrating his unwavering commitment to project success. Mike Hatcher, another Senior Design Program Manager, praises Chaitanya’s problem-solving abilities and envisions his ongoing impact in elevating customer satisfaction levels.

    Chaitanya’s dedication to knowledge dissemination shines through his involvement in volunteerism and entrepreneurship, where he champions sustainable practices. He actively volunteers at Citizens’ Climate Lobby, a non-profit organization dedicated to fostering collective action on climate policy among ordinary citizens. Moreover, his authored works delve into cutting-edge topics such as the integration of AI in architecture, green warehousing, and the circular economy, showcasing his innovative mindset and unwavering commitment to pushing the boundaries of the field. He also serves as an Editorial board member for Journal of Knowledge Learning and Science Technology.

    As an architect and esteemed member of organizations like the American Institute of Architects and the Construction Specifications Institute, Chaitanya’s credentials underscore his expertise. His LEED Green Associate certification further validates his dedication to sustainable building practices.

    In conclusion, Chaitanya Korra embodies excellence in design, sustainability, and project management. His deep understanding of technology’s impact on architecture positions him as a valuable asset to both Amazon and the wider industry. With a profound commitment to fostering sustainable built environments, Chaitanya is poised to continue making significant contributions and inspiring future architects.

    For further insights into his work, connect with Chaitanya on LinkedIn and Research Gate.