Trinamool condemns three TV networks for "propaganda driven by an anti-Bengal agenda."

 The Trinamool Congress has announced its decision to boycott three news channels, accusing them of spreading "anti-Bengal, agenda-driven propaganda." This decision comes amid widespread outrage over the rape and murder of a woman doctor at RG Kar Medical College and Hospital, a state-run institution in Kolkata.

Trinamool condemns three TV networks for "propaganda driven by an anti-Bengal agenda."

In a statement, Mamata Banerjee's party declared that it would no longer send its spokespersons to these channels for panel discussions. The party accused the news channels of being compelled to "appease the Zamindars of Delhi," citing the ongoing investigations and enforcement cases against the promoters and companies associated with these channels.

Furthermore, the Trinamool Congress urged the public to be cautious and not to be misled by individuals appearing on these channels who claim to be supporters or sympathizers of the party. The statement emphasized that these individuals are not authorized by the party and do not represent its official position. The statement also highlighted that "the people of Bengal have consistently rejected this unholy Bangla Birodhi Nexus and have always chosen truth over propaganda."

The incident at RG Kar Medical College, where a second-year postgraduate medical student was raped and murdered on August 9, has put the Mamata Banerjee-led Trinamool Congress government under severe criticism for its handling of the case and the subsequent protests by doctors.

The Bharatiya Janata Party (BJP) has been actively protesting against the state government, demanding the resignation of Chief Minister Mamata Banerjee. The BJP has accused her of failing to ensure the safety and security of women in West Bengal, claiming the state has become the most unsafe in the country for women.

In response, the Trinamool Congress has dismissed the BJP's allegations, accusing them of using the public's outrage over the tragic incident to destabilize the democratically elected government led by Mamata Banerjee.

Virat Kohli and Joe Root stats are used by Michael Vaughan to mock India once more, but fans respond in kind.

 Former England cricket captain Michael Vaughan has once again caused a stir on social media by attempting to provoke Indian cricket fans. This time, Vaughan used a comparison between the Test records of Virat Kohli, the renowned Indian batsman, and Joe Root, the accomplished English cricketer. Vaughan's tweet was posted following Root's outstanding performance in the ongoing second Test match against Sri Lanka, where Root scored his 33rd Test century.

Virat Kohli and Joe Root stats are used by Michael Vaughan to mock India once more, but fans respond in kind.

Michael Vaughan is known for his provocative remarks on social media, and he did not miss the chance to take a jab at Virat Kohli, one of India's most prominent cricket stars. By sharing a statistical comparison of the Test records between Root and Kohli, Vaughan underscored Root's greater number of Test centuries. This was seen by many as a subtle suggestion that Root has outperformed Kohli in the longer format of the game.

The tweet quickly gained traction, going viral and prompting a wave of reactions from cricket enthusiasts around the world. Indian cricket fans, however, were quick to respond. They defended Kohli by emphasizing that his contributions to the game extend far beyond the sheer number of centuries. Many highlighted Kohli's consistent performances across all formats of the game and his pivotal role in elevating India's status as a cricketing powerhouse.

Regarding the second Test match itself, England managed to post a total of 427 runs, thanks in large part to the centuries scored by Joe Root and Gus Atkinson. England's innings lasted for one and a half days before Sri Lanka managed to bowl them out. Asitha Fernando was the standout bowler for Sri Lanka, taking a five-wicket haul, while Milan Rathnayake and Lahiru Kumara each claimed two wickets.

After suffering a defeat by five wickets in the first Test in Manchester the previous week, Sri Lanka made two changes to their squad for the second match. They included batter Pathum Nissanka and pace bowler Lahiru Kumara, replacing Kusal Mendis and Vishwa Fernando. 

England made a single change to their lineup, with Olly Stone coming in for fellow fast bowler Mark Wood, who was sidelined due to a thigh injury. Ollie Pope, stepping in as captain for the injured Ben Stokes, mentioned that he would have opted to bat first if he had won the toss. Notably, Sri Lanka also won the toss in the first Test in Manchester.

The line-ups for the second Test match were as follows:

England: Ben Duckett, Dan Lawrence, Ollie Pope (captain), Joe Root, Harry Brook, Jamie Smith, Chris Woakes, Gus Atkinson, Matthew Potts, Olly Stone, Shoaib Bashir.

Sri Lanka: Dimuth Karunaratne, Nishan Madushka, Pathum Nissanka, Angelo Mathews, Dinesh Chandimal, Dhananjaya de Silva (captain), Kamindu Mendis, Milan Rathnayake, Prabath Jayasuriya, Asitha Fernando, Lahiru Kumara.

Big bets on AI and green energy from Reliance Industries, but no indication on when Jio and the retail company will go public

Big bets on AI and green energy from Reliance Industries, but no indication on when Jio and the retail company will go public

 Mukesh Ambani emphasized that the Reliance Group is on track to more than double its size by the end of this decade. He identified key sectors such as Oil-to-Chemicals (O2C), Retail, Jio (its digital services arm), Media, and Green Energy and Fuels as the primary drivers of future growth.

The 47th Annual General Meeting (AGM) of Reliance Industries Limited (RIL), held since its Initial Public Offering (IPO), was perhaps the most anticipated event of the week. The market was eagerly awaiting announcements regarding the IPO timelines for Reliance Jio and the retail business. However, during his hour-long speech, RIL’s Chairman and Managing Director, Mukesh Ambani, did not address these IPO timelines. Instead, he focused on the growth trajectory, stating that he expects both Jio and Retail to double their revenues over the next three to four years.

Regarding the revenue outlook, Ambani stated, "Jio is poised to be a cornerstone of India‘s digital future." He projected that both Jio and the Retail business would double their revenues and EBITDA within the next three to four years. He also highlighted the significant growth potential in the media sector.

The high expectations surrounding the IPO timelines for Reliance Retail and Jio stemmed from a declaration made at the 2019 AGM, which stated that these businesses would be listed within five years. 

Despite the absence of an IPO update, Mukesh Ambani outlined the company's growth strategy, emphasizing the "five growth engines"—O2C, Retail, Jio, Media, and Green Energy and Fuels. He noted that Reliance is uniquely positioned to expand into new businesses adjacent to these core sectors. He highlighted that three of these growth engines already have a valuation of over $100 billion each and are expected to grow even faster in the future.

On rewarding investors, Ambani emphasized the company's commitment to wealth creation, mentioning that the Board is considering issuing bonus shares in a 1:1 ratio on September 5. He assured investors that Reliance would continue to operate within a prudent financial framework, allocating resources to high-return projects while maintaining a strong balance sheet.

A significant part of Ambani's address focused on Deep Tech and Artificial Intelligence (AI). He shared his vision for the future, which includes transforming Reliance from a technology implementer to a creator of cutting-edge technologies. The company plans to build large-scale AI infrastructure, including Gigawatt-scale AI-ready Data Centers in Jamnagar powered by green energy, to offer AI for all. These initiatives aim to have a transformative impact on sectors such as agriculture, healthcare, education, and small businesses.

Ambani also highlighted the strong performance of Reliance’s Upstream and Oil-to-Chemicals (O2C) businesses. Key factors contributing to this success include a focus on operational excellence, diversification in processing 60 grades of crude oil (including 13 new grades), chartering more vessels on a long-term basis amidst geopolitical tensions, strong domestic demand for fuels and downstream chemicals, and leveraging deep-tech and advanced manufacturing capabilities. The company is pioneering the use of AI-powered real-time optimization across its supply chain and advanced crude oil and feedstock characterization to drive increased profitability.

Ambani also reiterated Reliance’s emergence as a deep-tech and new energy entity. He stated that affordable and sustainable round-the-clock clean energy is critical for India’s accelerating growth. The company has committed Rs 75,000 crore to establish a new energy ecosystem. He revealed that construction has begun on an advanced chemistry-based battery manufacturing facility with an annual capacity of 30 GWh in Jamnagar, with production expected to start in the second half of next year. This facility will initially assemble Battery Energy Storage Systems (BESS) for various markets and progressively integrate backward to cell manufacturing and eventually to battery chemical production. According to Ambani, this deep integration will help control quality and costs, ultimately resetting energy costs.

Will next week see Putin's arrest? Examined is the Russian President's visit to Mongolia

 Russian President Vladimir Putin is set to visit Mongolia next week, a country that is a member of the International Criminal Court (ICC). The ICC has issued an arrest warrant for Putin, holding him accountable for alleged war crimes. 

Will next week see Putin's arrest? Examined is the Russian President's visit to Mongolia

According to the Kremlin, as reported by AFP, Putin will travel to Mongolia on September 3, 2024, at the invitation of Mongolian President Ukhnaa Khurelsukh. The visit is to participate in ceremonies commemorating the 85th anniversary of the joint Soviet and Mongolian forces' victory over Japanese militarists at the Khalkhin Gol River.

Last year, the ICC issued an arrest warrant for Putin, accusing him of responsibility for war crimes, including the illegal deportation of children from Ukraine. ICC prosecutor Karim Khan has stated that if Putin visits any of the ICC's more than 120 member states, he could be subject to arrest.

However, Russia is not a signatory to the ICC, raising questions about the enforceability of such a warrant. India, another country not a member of the ICC, is expected to host Putin later this year for the G20 summit in New Delhi.

The specific charges against Putin involve his alleged role, along with Maria Lvova-Belova, in the unlawful deportation and transfer of children from occupied regions of Ukraine to Russia. Reports from the United Nations Commission of Inquiry, cited by the BBC, indicate that some of these children were forced to acquire Russian citizenship and placed in foster families in Russia, effectively making their return difficult. The transfers, initially described as temporary, have been complicated by numerous obstacles that prevent children and their parents from reuniting. UN investigators have identified 16,221 children forcibly taken to Russia.

The ICC has indicated that there are reasonable grounds to believe Putin bears "individual responsibility for these crimes," whether he committed them directly, jointly with others, or through intermediaries. Furthermore, the court suggests that Putin did not adequately control his civilian and military subordinates who were directly involved in these acts or allowed them to occur.

Under the arrest warrant, ICC member states are obligated to detain Putin or Lvova-Belova if they enter their territory. However, the ICC lacks its own police force or any direct means to enforce these arrests, which complicates the situation further.

Poem on rapes shared by Pakistani blogger. Arrested for insulting Allah

 In New Delhi, a Pakistani blogger was recently charged with blasphemy and jailed for sharing a poem expressing solidarity. Asma Batool, a blogger from Pakistan-occupied Kashmir, shared a poem by Salman Haider on social media. The poem highlighted the harassment faced by women in South Asian countries in the wake of the Kolkata rape case. The poem Batool shared on Facebook included a powerful line: "Khuda, Bhagwan or Ishwar, sab maujood they, jab rape hua" (All the gods were present when I was being violated). She also posted another poem on Instagram with the caption, “Your country is the same as mine.”

Poem on rapes shared by Pakistani blogger. Arrested for insulting Allah

Following this, Batool was arrested on blasphemy charges after religious clerics filed a First Information Report (FIR) against her, accusing her of insulting Allah. The FIR was filed on August 25 by Maulana Tahir Bashir, the president of Ahlus Sunnat Wal Jamaat District in Poonch. Batool’s family, in response, filed a complaint with the local police, stating that a mob had attacked their home, threatened to kill them, and attempted to set their house on fire, accusing them of abandoning their faith. Videos circulating on social media also show a mob, led by local clerics, demanding Batool’s family disown her or face social ostracism.

This incident has sparked outrage among activists nationwide, who are now calling for her immediate release and the removal of what they claim are fabricated charges. 

Journalist Sabahat Zakariya commented on X (formerly Twitter), saying, “Asma Batool…has been arrested for blasphemy charges for sharing a poem on her social media. Aap maane ya na maaney, this is Pakistan” (whether you agree or not, this is Pakistan). Zakariya further argued that the current situation in Pakistan is a result of stoking communal sentiments for secessionism rather than promoting dialogue within a diverse society.

Batool has been a vocal critic of the oppression of minorities in Pakistan on social media, and her YouTube channel features videos of her celebrating Holi and discussing the people of Kashmir.

Social media users are both shocked and curious about the situation. One user on X expressed frustration, writing, “Can’t wait for them to discover Iqbal (Allama Iqbal) and how ‘blasphemous’ he gets. This is disgusting, and I seriously can’t begin to see how we can ever reverse it.” 

Human rights activist Gulalai Ismail also condemned Batool’s arrest, stating, “Blasphemy law is the new sedition law; a tool used by the civil-military establishment to punish dissent.”

Pakistan’s blasphemy laws, which prohibit derogatory remarks about the Prophet Muhammad, have been a source of significant controversy. These laws can lead to severe penalties, including the death penalty. Since 1947, at least 89 people have been extrajudicially killed over blasphemy accusations, including high-profile figures such as Governor Salman Taseer and Minister Shahbaz Bhatti.

As of early 2021, approximately 80 individuals were imprisoned on blasphemy charges in Pakistan, many of whom face life sentences or even the death penalty.

Human Rights Watch highlighted the growing use of blasphemy laws to target individuals for comments made on social media, describing this trend as a "dangerous escalation." In its 2024 report on blasphemy cases in Pakistan, the organization expressed concern over the increasing suppression of free speech and the targeting of religious minorities.

In January 2023, Pakistan’s National Assembly passed the Criminal Laws (Amendment) Bill, which increased the penalty for disrespecting the Prophet Muhammad’s family from three years to ten years in prison, along with a fine of 1 million Pakistani rupees. This legislative change has raised fears of worsening human rights abuses and the further persecution of religious minorities in Pakistan.

"The catch made by Suryakumar Yadav would have been awarded not out if...: The pivotal catch controversy from SKY's T20 World Cup final gets reignited by Tabraiz Shamsi.

 South African spinner Tabraiz Shamsi recently shared his thoughts on the outcome of the T20 World Cup 2024 final, suggesting that the result might have been different if Suryakumar Yadav's catch had been reviewed more closely. In response to a viral video, Shamsi hinted that a detailed examination of the catch could have led to it being overturned. The final match, played at the Kensington Oval in Bridgetown, Barbados, was a memorable showdown between India and South Africa. India ultimately clinched victory in a nail-biting finish, pulling off a win from the jaws of defeat. A pivotal moment in the final over was when Suryakumar Yadav took a spectacular catch near the boundary to dismiss David Miller.

"The catch made by Suryakumar Yadav would have been awarded not out if...: The pivotal catch controversy from SKY's T20 World Cup final gets reignited by Tabraiz Shamsi.

South Africa needed 16 runs to win in the last over. Hardik Pandya bowled a full toss on the first ball, which David Miller struck with force. The ball seemed destined to clear the boundary for a six, but Suryakumar Yadav made an extraordinary play. Demonstrating remarkable skill and awareness, Yadav leaped high and managed to grab the ball just inches inside the boundary ropes. He then threw the ball back into play, before stepping out, to complete the catch, effectively dismissing Miller and securing India's triumph in the T20 World Cup 2024.

Following India's dramatic victory, Suryakumar Yadav's crucial catch was widely celebrated, earning him praise for his quick thinking and athleticism. However, the legality of the catch was questioned by some, who speculated that Yadav may have inadvertently touched the boundary rope while completing the catch, which would have resulted in a six for South Africa and potentially changed the outcome of the game. 

Two months after the final, Tabraiz Shamsi made a light-hearted remark about the catch. Commenting on a humorous video where players were seen using ropes to measure the boundary to check the validity of a catch, Shamsi suggested that if the International Cricket Council (ICC) had used this method during the final, David Miller might not have been given out. "If they used this method to check the catch in the World Cup final maybe it would have been given not out," Shamsi wrote on X (formerly Twitter).

After his comment sparked some reactions, Shamsi clarified his intentions, stressing that his remark was meant to be taken as a joke and not a serious criticism of the decision. He humorously added, "In case some people don't understand that it's meant to be a joke and no one is crying... let me explain it to you like a 4-year-old child. It's A Joke."

A record-holding Indian pacer who made his T20I debut with the best bowling figures announces his retirement.

 Barinder Sran, a left-arm fast bowler who represented India in six One-Day Internationals (ODIs) and two Twenty20 Internationals (T20Is) in 2016, has announced his retirement from all forms of cricket. Throughout his international career, Sran managed to take a total of 13 wickets while playing in these two white-ball formats for India.

A record-holding Indian pacer who made his T20I debut with the best bowling figures announces his retirement.

Reflecting on his retirement, Sran expressed his gratitude for his cricketing journey. "As I officially hang up my cricket boots, I look back at my journey with a heart full of gratitude. Since switching from boxing to cricket in 2009, the sport has blessed me with countless incredible experiences. Fast bowling quickly became my calling and opened up opportunities to play for several esteemed IPL franchises, which eventually led to the pinnacle of my career—representing India in 2016," he shared.

He acknowledged that while his international career was relatively short, the experiences and memories he gained would always hold a special place in his heart. He also expressed deep appreciation for the coaches and management who supported him throughout his career, saying, "I am eternally grateful to the almighty for getting me the right coaches and management, who have supported me throughout my journey." As he looks ahead to the future, Sran remains thankful for all that cricket has given him and encourages others to dream big, quoting, "Just like the sky, dreams have no limits, so keep dreaming." These sentiments were shared by Sran in a heartfelt post on his Instagram account.

During his IPL career, Sran played for several teams, including the Punjab Kings, Rajasthan Royals, Mumbai Indians—where he was part of the winning squad in the 2019 season—and Sunrisers Hyderabad. Over 24 IPL matches, he claimed 18 wickets, maintaining an economy rate of 9.40. Interestingly, before pursuing cricket, Sran was initially a boxer at the Bhiwani Boxing Club, known for producing notable talents like Vijender Singh, the 2008 Beijing Olympics bronze medallist.

Sran's journey into cricket began somewhat unexpectedly when an advertisement by Punjab Kings invited young talent for trials. His skills as a fast bowler earned him recognition, leading to a win in the India Under-19 segment of the Gatorade Speedster competition. This victory provided him with the opportunity to train at the ICC Academy in Dubai, where he honed his skills. Overcoming injuries and challenges, Sran progressed through the ranks, playing domestic cricket for Punjab and later Chandigarh, participating in the IPL, and ultimately achieving the honor of playing for the Indian national team.

Mamata Banerjee has been accused of lying to PM Modi over the "if you burn" threat.

 A lawyer has lodged a formal complaint with the Delhi Police against the Chief Minister of West Bengal, Mamata Banerjee, over remarks she made on Wednesday, claiming they were provocative and could incite unrest.

Mamata Banerjee has been accused of lying to PM Modi over the "if you burn" threat.

The complaint, submitted by Vineet Jindal, a practicing lawyer at the Supreme Court, focuses on a statement Banerjee delivered during a Trinamool Chhatra Parishad event. According to the complaint, Banerjee stated, "Remember, if Bengal burns, then Assam, Bihar, Jharkhand, Odisha, and Delhi will also burn."

Jindal argued that Banerjee's words were inflammatory and had the potential to incite regional hatred and enmity, posing a threat to national harmony and public order. He emphasized that as a chief minister, Banerjee’s statements hold considerable influence, making such remarks particularly perilous. 

"Considering the instigating and provocative nature of her statement, which seems intended to create discord and foster hatred and enmity among the people of India, especially since she mentioned Delhi as one of the states that would be affected, I, being a resident of Delhi, respectfully request that an FIR be registered under Sections 152, 192, 196, and 353 of the BNS against Mamata Banerjee. These are cognizable and serious offences," Jindal stated in his complaint.

Banerjee's Controversial Remarks

On Wednesday, Mamata Banerjee condemned the BJP's 12-hour 'Bengal Bandh,' calling it an attempt to "defame" the state of Bengal. She also accused Prime Minister Narendra Modi of using his party to create instability in the region.

She remarked, “Some people think this (agitation) is similar to the protests in Bangladesh. I love Bangladesh, they speak like us (Bengal). Our culture is also the same. However, Bangladesh is a different country,” referring to the student-led uprising in Bangladesh that led to the removal of Prime Minister Sheikh Hasina.

Banerjee added, “Modi babu, you are trying to create unrest in Bengal through your people. But remember, if you burn Bengal, Assam, the North-East, Uttar Pradesh, Bihar, Jharkhand, Odisha, and Delhi will also burn.”

The Chief Minister of Assam, Himanta Biswa Sarma, criticized Banerjee’s comments, accusing her of trying to spread unrest and divisive politics across India. 

“Didi, how dare you threaten Assam?” Sarma posted on X. “Don't show us red eyes. Don't try to set India on fire with your politics of failure. It does not suit you to speak divisive language,” he added.

Meanwhile, the BJP state president and Union Minister of State, Sukanta Majumdar, wrote a letter to Union Home Minister Amit Shah, condemning Banerjee’s remarks as a “blatant endorsement of revenge politics from the highest office in the state.” Majumdar accused Banerjee of making anti-national statements by suggesting that unrest in Bengal could lead to chaos in other states.

"It is inconceivable and unprecedented for a chief minister, who is constitutionally obligated to rise above partisan views, to make such intimidating statements that threaten democracy," Majumdar said to reporters.

"Nvidia’s Earnings Will Evaluate the S&P 500’s $4 Trillion Rebound"

 The upcoming quarterly earnings announcement from Nvidia (NVDA), often hailed as an AI frontrunner, is set to captivate global financial markets. The company's second-quarter fiscal year 2025 financial results are scheduled for release on August 28, 2024, at 2:00 PM PT. With the earnings report being issued after market hours on Wednesday, it could prove to be a pivotal moment for the U.S. financial landscape.

Equity investors are looking forward to Nvidia, the giant of AI, releasing its earnings report today.

Nvidia's current stock price is approximately $126, reflecting an impressive return of over 150% for investors so far in 2024, as well as a remarkable gain over the past year. Notably, Nvidia has contributed nearly 25% of the S&P 500's 17% annual growth, making its performance a focal point for market observers eager to see if the company can sustain its extraordinary trajectory.

According to Nigel Green, CEO and Founder of deVere Group, one of the world's leading independent financial advisory and asset management firms, Nvidia is expected to surpass its previous earnings results when it reports on Wednesday. Green's optimistic forecast characterizes this upcoming earnings release as potentially the "single most important earnings report of the year."

In addition, today's release of the FOMC minutes and Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Symposium on Friday are anticipated to further influence market dynamics.

Nvidia's stock has surged by 150% just this year and by an astonishing 3,000% over the past five years, marking an exceptional growth trajectory. Sheraz Mian, Research Director at Zacks Research, emphasizes Nvidia's prominent role in the AI sector, attributing its consistent high-quality quarterly results to its advanced chips designed for complex computations

However, the earnings season has been challenging for tech giants, with companies facing repercussions if their performance does not align with high valuations and substantial AI investments. John Blank, Chief Equity Strategist at Zacks Research, notes that Nvidia's remarkable multi-year performance and the current AI enthusiasm are drawing comparisons to the dot-com bubble of over two decades ago. The recent negative market reactions to disappointing results from major companies like Alphabet (GOOG) and Tesla (TSLA) suggest that investors may be particularly unforgiving, given the elevated valuations in the tech sector.

Despite these concerns, Nigel Green believes Nvidia's best days may still lie ahead. He asserts that Nvidia has firmly established itself as the leader in the AI chip market, a sector poised to revolutionize industries worldwide. In an era increasingly driven by AI technologies, Nvidia is positioned far ahead of its competitors.

"States are also being cautious about reducing GST rates: Finance Minister Sitharaman"

 Finance Minister Nirmala Sitharaman stated on Tuesday that states are also cautious about proceeding with reductions in tax rates. She clarified that her intention was not to criticize them, explaining that states are keen to generate revenue without imposing a heavy burden on the public. “When state officials take their positions, they are aware that their responsibility is not to appease anyone but to safeguard revenue,” she mentioned to reporters.

"States are also being cautious about reducing GST rates: Finance Minister Sitharaman"

These remarks were made in the context of ongoing discussions about revising the rates on goods and services under the Goods and Services Tax (GST). Sitharaman suggested that any changes to these rates would take some time to implement. The GST Council is expected to begin discussions on these potential changes during its meeting scheduled for September 9.

In recent months, the central government has faced criticism over the high GST rates. However, Sitharaman defended the current rates by pointing out that they are lower for nearly all goods and services compared to the rates in July 2017, when the GST was first introduced. This introduction replaced multiple other taxes and cesses.

She also addressed misinformation circulating on social media, stating, “There is a lot of vicious, false campaigning on social media. I won’t delve into that... the entire country is benefiting from GST.” She elaborated that aside from the adjusted rates, the elimination of border checks has resulted in smoother and faster movement of goods.

Additionally, Sitharaman noted that the revenue-neutral rate has now dropped below 11.6%, lower than the 15.3% suggested by an expert panel before GST was launched in 2017. This is also below the level estimated in 2019.

The group of ministers on rate rationalization, led by Bihar's Deputy Chief Minister Samrat Chaudhary, has recommended maintaining the current four GST slabs—5%, 12%, 18%, and 28%—while exploring adjustments to other rates.

Sitharaman also emphasized that, contrary to popular belief, the discussions between state finance ministers and the central government are conducted in a cordial manner, and decisions are made following thorough deliberations. She mentioned that the extension of the compensation cess on luxury and sin goods is another topic up for discussion. Initially, this cess was supposed to end in 2022, but to help states meet their financial requirements, the GST Council agreed to extend it until March 2026 to cover their borrowings. Government officials anticipate that the borrowings, totaling 2.7 lakh crore, will be repaid by November 2025.