New Delhi, June 5 (IANS) Union Minister Ashwini Vaishnaw on Thursday described the Chenab Bridge built on the Jammu and Srinagar railway line as an engineering marvel, saying that it has been designed to tackle winds up to 260 kilometres per hour and falls in Seismic Zone 5.Talking to reporters about the unique features of the bridge, the Union Minister said its design is very complicated and its foundation is equal to half a football field.About 30,000 tonnes of steel have been used to build this bridge, which is now touted as the world’s highest railway arch bridge.Prime Minister Narendra Modi is scheduled to flag off two Vande Bharat trains at Katra town on Friday. The PM will visit Chenab and Anji bridges — two engineering marvels on the rail link between Katra and Srinagar, before inaugurating the Vande Bharat train service.“Anji Bridge is also very important. There are many cable bridges on highways, but for the first time, a cable bridge has been built in the railways,” said Vaishnaw.He further stated that a large number of tunnels have been built on the Jammu-Srinagar railway line. The 111-km section from Katra to Banihal has tunnels spanning 97 km.The Railways Minister further said work is also underway on a plan to build four terminals on the Jammu-Srinagar rail line, so that goods can be carried easily. Jammu station will serve as a transit station for passengers going to Srinagar.At present, work is going on platforms number 5 and 6 at Jammu station, due to which the Vande Bharat Express going to Srinagar will run between Katra and Srinagar for now. The work at Jammu station will be completed in September, after which Vande Bharat will be operated directly from Jammu to Srinagar.–IANSavs/uk

New Delhi, June 5 (IANS) Finance Minister Nirmala Sitharaman and the Kyrgyz Republic’s Minister of Foreign Affairs Zheenbek Kulubaev Moldokanovich signed the protocol and exchanged the instrument of ratification of the India-Kyrgyzstan Bilateral Investment Treaty (BIT) here on Thursday.The Bilateral Investment Treaty (BIT) signed on June 14, 2019, in Bishkek, between the Government of India and the Government of the Kyrgyz Republic, enters into force with effect from 5th June 2025. This new BIT replaces the earlier agreement enforced on 12th May 2000, ensuring continuity in the protection of investments between the two nations, according to an official statement.The India-Kyrgyz BIT marks a significant milestone in strengthening bilateral economic relations and fostering a secure and predictable investment environment. The BIT aims to promote and protect the interests of investors of either country in the territory of the other country.The key features of the treaty include an enterprise-based definition of assets with an indicative inclusion list and a specific exclusion list of assets which also clarifies the characteristics of investments such as commitment of capital, the expectation of gain or profit, the assumption of risk and have significance for the development of the host state.It excludes matters relating to local government, government procurement, taxation, services supplied in the exercise of governmental authority, compulsory licenses, in order to retain sufficient policy space with the Government in such mattersThe BIT seeks to define the core elements of the Treatment of Investment, as found in customary international law. Besides, the BIT ensures a balanced framework through provisions on national treatment, expropriation and transfers.The Most Favored Nation (MFN) obligation in the past allowed investors to selectively “import” favourable substantive provisions from other treaties concluded by the Host State. The MFN clause is accordingly removed in the BIT.The BIT contains two types of exceptions: general exceptions and security exceptions. The attempt is to carve out a policy space for the State. The general exceptions include, among others, the protection of the environment, ensuring public health and safety, and protecting public morals and public order.The BIT also has a calibrated Investor-State Dispute Settlement mechanism with mandatory exhaustion of local remedies, thereby providing investors with an alternative dispute resolution mechanism.The BIT balances the investor rights with the sovereign regulatory powers of both countries, and reflects a shared commitment to create a resilient and transparent investment climate.It is expected to further encourage cross-border investments and deepen economic cooperation between India and Kyrgyzstan, the statement added.–IANSsps/pgh

New Delhi, June 5 (IANS) India has committed $20 billion for infrastructure development focused on enhancing multimodal logistics, port connectivity, and trade facilitation, Union Minister Sarbananda Sonowal said on Thursday.Delivering the keynote speech at the India Country Session in Oslo and highlighted India’s growing maritime capabilities, including a favourable policy-induced investment environment, proven shipbuilding strength, circular economy efforts, and innovative financing plans to accelerate sectoral growth, he said: “Under the able and visionary leadership of Prime Minister Narendra Modi, India is moving decisively toward the goals of Viksit Bharat and Atmanirbhar Bharat. These goals envisage India as a modern, self-reliant, inclusive, and globally engaged economy.”In this journey, the maritime sector is central – not just as a driver of growth, but as an enabler of resilience, sustainability, and strategic connectivity.”India has launched wide-ranging efforts to expand port infrastructure, integrate logistics systems, and improve ease of doing business for the private sector. These reforms are already bearing fruit in the form of increased port efficiency, stronger cargo flows, and rising investor confidence,” he said.The Shipping Minister also highlighted strengthening of maritime connectivity and supply chains with strategic corridors like the India-Middle East-Europe Economic Corridor (IMEEC), the Eastern Maritime Corridor (EMC), and the International North-South Transport Corridor (INSTC).”India is working to become a credible and competitive alternative. Through policy incentives, ease of doing business, and infrastructure enhancement, we are laying the foundation for India to emerge as one of the top five shipbuilding nations by 2047,” he said.India is establishing three Green Hydrogen Hub Ports — Kandla, Tuticorin, and Paradip — to support the manufacturing of green hydrogen and its derivatives and to pioneer the use of alternative fuels in the maritime domain.”We are also proud to lead under the IMO’s Green Voyage 2050 initiative, assisting developing countries in their energy transitions,” he added.India’s maritime digital ecosystem is undergoing a transformation. Initiatives such as ONOP (One Nation-One Port Process), National Logistics Portal (Marine), and MAITRI – Virtual Trade Corridor are creating a unified national platform for port services and EXIM trade.”These efforts are improving operational transparency, reducing transaction time and building real-time data systems. We are also engaging with global partners to establish Virtual Trade Corridors that will digitally connect ports, enabling seamless cargo movement and reducing bottlenecks,” said the minister.–IANSna/vd

New Delhi, June 5 (IANS) A high-level US trade delegation has arrived in the national capital to move ahead on the negotiations for a Bilateral Trade Agreement (BTA) with India.The negotiators are aiming to finalise an interim trade deal ahead of the July 9 deadline that has been fixed by US President Donald Trump for the 90-day pause on new tariffs that were to be levied on Indian products. Negotiations are expected to continue after that for a broader trade deal to be signed in September-October.The visit of the US team comes against the backdrop of Union Commerce Minister Piyush Goyal’s recent trip to Washington for the trade talks.India has proposed significant tariff reductions, potentially lowering average duties from 13 per cent to 4 per cent, in exchange for exemptions from US tariff hikes imposed during the Trump administration. These concessions are on the same lines as those offered in the recent bilateral free trade agreement that India has signed with the United Kingdom.India is seeking market access for its industrial products such as steel, aluminium, auto components and pharmaceutical goods. Recently, the US doubled safeguard duties on steel and aluminium imports to 50 per cent, which has adversely impacted India’s exports. Although India has moved the WTO on the issue, it is hoping to settle the issue through the bilateral trade agreement.The US is also seeking broader market access for its agricultural and dairy products, but for India, the livelihood issue of the country’s small farmers is paramount, and hence, this is considered a sensitive area.India may allow the import of select agricultural products, such as almonds, as these are already flowing into the country. However, as a quid pro quo, India is likely to press for improved access to the US market for seafood products like shrimp and fish, as well as spices, coffee, and rubber – segments where Indian exporters are globally competitive but face tariff competition in the American market.Trade between India and the US touched the $129 billion mark in 2024, with New Delhi recording a trade surplus of $45.7 billion. In February, Prime Minister Narendra Modi and President Trump launched ‘Mission 500’, an initiative aiming to double bilateral trade to $500 billion by 2030. The joint decision was announced during PM Modi’s visit to Washington.US Secretary of Commerce Howard Lutnick also announced this week that a trade deal between India and the United States is likely to be finalised shortly. He made the assertion in his address at the US-India Strategic Partnership Forum Annual Leadership Summit in Washington.–IANSsps/vd

New Delhi, June 5 (IANS) External Affairs Minister (EAM) S. Jaishankar on Thursday held a meeting with Kyrgyzstan Foreign Affairs Minister Zheenbek Kulubaev Moldokanovich, discussing ways to enhance cooperation between the two countries and also thanking him for Bishkek’s support and solidarity in countering terrorism.

“A productive meeting with FM Zheenbek Kulubaev of Kyrgyz Republic. Thanked him for their support and solidarity in countering terrorism. Discussed our cooperation in banking, education, energy, health, connectivity and capacity building. Today’s signing of Programme of Cooperation is a step forward in deepening our bilateral ties,” EAM Jaishankar posted on X after the meeting.Along with Kulubaev, four other Central Asian foreign ministers – including Bakhtiyor Saidov (Uzbekistan), Rashid Meredov (Turkmenistan), Sirojiddin Muhriddin (Tajikistan) and Murat Nurtleu (Kazakhstan) – are in New Delhi to attend the two-day 4th India-Central Asia Dialogue as India continues to put a strong foot forward in enhancing anti-terror and de-radicalisation partnerships across the region.Earlier in the day, Union Minister for Finance and Corporate Affairs Nirmala Sitharaman and the visiting Kyrgyz Foreign Minister signed the Protocol and exchanged Instrument of Ratification of the Bilateral Investment Treaty (BIT) between both countries.The Bilateral Investment Treaty (BIT) signed on June 14, 2019 in Bishkek between the Government of the Republic of India and the Government of the Kyrgyz Republic, enters into force with effect from Thursday and replaces the earlier agreement enforced in May 2000, ensuring continuity in the protection of investments between the two nations.”The India-Kyrgyz BIT marks a significant milestone in strengthening bilateral economic relations and fostering a secure and predictable investment environment. The BIT aims to promote and protect interests of investors of either country in the territory of the other country,” read a statement issued by the Ministry of Finance.The BIT balances the investor rights with the sovereign regulatory powers of both countries, and reflects a shared commitment to create a resilient and transparent investment climate. It is expected to further encourage cross-border investments and deepen economic cooperation between India and Kyrgyzstan.During the meeting held within the framework of the 4th Ministerial Meeting of the Central Asia-India Dialogue, both countries discussed the current state and prospects of Kyrgyz-Indian cooperation in the financial and investment sectors.”Particular attention was paid to the establishment of direct correspondent relations between banks of Kyrgyzstan and India and the development of investment cooperation in priority areas. The meeting concluded with confirmation of the parties’ mutual willingness to strengthen cooperation between the financial institutions of the two countries,” stated Kyrgyz Foreign Ministry.–IANS/as

Brasilia, June 5 (IANS) Lok Sabha Speaker Om Birla on Thursday reiterated India’s strong support…

New Delhi, June 5 (IANS) Leader of Opposition Rahul Gandhi on Thursday claimed in a social media post that two-wheeler sales in the country have fallen by 17 per cent and car sales by 8.6 per cent in the past one year – a claim which does not hold any merit if we look at reliable industry data.The auto industry in the country actually achieved a new milestone in the financial year ending March 2025, with passenger vehicle sales rising to a record 43 lakh units, according to the Society of Indian Automobile Manufacturers (SIAM).This marked a 2 per cent increase from the previous year. A major contributor to this growth was the rising popularity of utility vehicles, which accounted for 65 per cent of total passenger vehicle sales. This was up from around 60 per cent in the previous financial year.According to SIAM, two-wheeler sales actually saw a strong recovery, growing by 9.1 per cent to reach 1.96 crore units in FY25.Three-wheeler sales also performed well, touching their highest-ever level at 7.4 lakh units. This marks a 6.7 per cent rise and even beats the earlier peak recorded in FY19.”The growth in the two-wheeler segment was led by scooters, thanks to improved connectivity in rural and semi-urban areas and the availability of newer models with advanced features,” according to SIAM data.The sales were driven by healthy demand, infrastructure investments, supportive government policies, and a continued focus on sustainable mobility.Passenger vehicle exports also touched an all-time high of 7.7 lakh units, registering a growth of 14.6 per cent over the previous year. The report credited this jump to an increase in the export of India-made global models, especially to markets in Latin America and Africa.Overall, domestic automobile sales grew by 7.3 per cent, while exports across all vehicle categories increased by 19.2 per cent during the financial year ending March 2025.Moreover, automobile exports from India rose by 19 per cent to surpass an all-time high of 53 lakh units for the financial year that ended March 31, reflecting the growing strength of the country as an auto manufacturing hub.India’s total vehicle exports touched 53,63,089 units during 2024-25, up from 45,00,494 in the previous financial year, according to figures compiled by SIAM.Passenger vehicle shipments recorded a robust 15 per cent jump from 7,70,364 units during the financial year compared with 6,72,105 units in 2023-24.–IANSna/vd

New Delhi, June 5 (IANS): The last 11 years have seen steady reforms introduced by the Government to make life easier and more dignified for the middle class, with steps ranging from tax relief that leaves more money in their hands to pension schemes that promise security in the old age, according to an official statement issued on Thursday.The government has cut through red tape, simplified rules and made everyday systems work better. Be it filing taxes, buying a home, commuting to work or affording medicines, things have become simpler and more accessible.These are not scattered changes but a pattern of reforms that speak to the real concerns of ordinary citizens. The government has not only respected the hard work of the middle class but also recognised them as key drivers of India’s growth, the statement said.From lowering income tax rates to simplifying returns, every move has been aligned with the core idea of letting citizens keep more of what they earn, the statement explained.The most recent tax reforms, especially those in the Union Budget 2025–26, are a clear sign that the Government has placed its trust in the middle class as a pillar of national growth.Whether it is raising the income threshold for zero tax, introducing a simplified tax regime or making return filing easier than ever, the effort has been constant and focussed.What stands out is not just the scale of reforms but the sense of fairness and recognition they carry for honest, hardworking taxpayers, the statement said.Over the past 11 years, the income tax policy has steadily provided meaningful relief.The Government raised exemption limits, introduced standard deductions, launched a simplified tax regime in 2020, and reduced paperwork. These efforts have added up to make life easier for taxpayers, the statement said.In the Union Budget 2025–26, another major change was announced. Individuals earning up to ₹12 lakh annually will now pay no income tax, except on special incomes like capital gains. With the standard deduction of ₹75,000, even those earning ₹12.75 lakh will pay no tax.The standard deduction reduces taxable income automatically by a fixed amount, easing the burden on salaried employees by lowering their overall tax liability without the need to claim multiple exemptions or submit detailed proofs.This reform will benefit crores of salaried citizens. It shows a deep understanding of middle-class needs and comes despite the Government giving up nearly ₹1 lakh crore in revenue.To make tax compliance easier, individual taxpayers are now provided with pre-filled Income Tax Returns. These returns include details like salary income, bank interest, dividends, and more.This ease is reflected in the rise of individual ITR filings, which increased from 3.91 crore in FY 2013–14 to 9.19 crore in FY 2024–25. This growth shows that more people find it simpler and worthwhile to comply with tax laws.For years leading up to 2014, rising prices kept middle-class families under constant strain. Between 2009–10 and 2013–14, inflation stayed in double digits. Essentials like food and fuel became increasingly costly, stretching household budgets and saving felt out of reach.Looking over the decade from 2004–05 to 2013–14, the average annual inflation stood at a steep 8.2 per cent. This prolonged period of price instability made everyday life harder and planning for the future uncertain.Inflation has come down to an average 5 per cent between 2015–16 and 2024–25 which has reduced the cost of living for people. Stable prices gave families breathing room.Essentials became more affordable, and planning monthly expenses became easier. This shift was the result of sound policy, strong coordination with the Reserve Bank, and better supply side management.The middle class, long hit by rising prices, finally found relief and regained confidence in the economy.In a major step to strengthen social security for government employees and their families, the Union Cabinet approved the Unified Pension Scheme (UPS) on August 24, 2024.The scheme ensures an assured pension of 50 per cent of the average basic pay drawn during the last 12 months before retirement, applicable to employees with at least 25 years of service. For those with shorter service tenures, the pension will be calculated proportionately, with a minimum qualifying period of 10 years, the statement added.–IANSsps/rad

New Delhi, June 4 (IANS) Chief Justice of India (CJI) B.R. Gavai on Wednesday said that arbitral institutions must show that arbitration is not just private but “principled” to earn public trust. Speaking at London’s LCIA International Arbitration Symposium, CJI Gavai stressed that arbitral institutions should have a panel of neutral arbitrators of experts from different fields and jurisdictions to be able to cater to the needs of parties from around the globe.Apart from the above, he said that these institutions should follow a set of procedural rules which are easy to comprehend, follow a transparent fee structure, adopt technological facilities such as provision for virtual hearings and live transcriptions, and utilise efficient case management.”At the end of the day, parties don’t just want justice – they want justice that’s on time, on budget and has finality. It is this consistent and well-brewed cup of coffee that people will keep coming back to,” CJI Gavai said.Further, speaking on the change needed in the arbitration practice in India, the Chief Justice said that the arbitral award should be the last word and not an invitation to round two in court, except in those cases where there is manifest injustice.”If I had a wand, I’d make ‘final award’ actually final, not a prelude to years of post award litigation. Arbitration is not meant to be the first lap of a marathon disguised as a sprint,” he said.CJI Gavai stressed the need to grant institutional arbitration the “mainstream seat” it deserves. “Institutions bring structure, credibility, and discipline – and it’s time we stopped treating them like a backup plan.”Further, he underscored the need to expand the pool of arbitrators – because justice should not come from a “closed club”. “Diversity is not just good optics; it is better outcomes,” CJI Gavai said.–IANSpds/vd

Chandigarh, June 4 (IANS) The Punjab Cabinet, led by Chief Minister Bhagwant Mann, on Wednesday approved a major amendment to the Punjab Shops and Commercial Establishments Act, 1958, aimed at reducing compliance burdens on 95 per cent of small businesses and enhancing the ease of doing business in the state. A spokesperson for the Chief Minister’s Office said that under this amendment, all establishments employing up to 20 workers will be exempted from all provisions of the Act.This step is expected to directly benefit lakhs of shopkeepers across Punjab. However, such establishments will still be required to submit relevant information to the Labour Department within six months of the Act coming into force or the commencement of their business.To enhance employee earnings, the permissible overtime in a quarter has been increased from 50 hours to 144 hours. Additionally, the daily spread-over period of work has been extended from 10 hours to 12 hours, inclusive of rest intervals. Nevertheless, employees must be paid overtime at double the regular rate for work exceeding nine hours per day or 48 hours per week.The registration process has also been streamlined, and the establishments with 20 or more employees will now receive deemed approval for registration within 24 hours of application submission.Under the amendment, establishments employing up to 20 workers are only required to provide basic information and are not obligated to register. Moreover, penalties under Sections 21 and 26 have been rationalised, raising the minimum fine from Rs 25 to Rs 1,000 and the maximum from Rs 100 to Rs 30,000.To prevent harassment and allow businesses time to achieve compliance, a three-month grace period will be provided between the first and second offences, as well as subsequent ones.A new Section 26-A has also been introduced to allow for the compounding of offences, thereby decriminalising the Act and eliminating the need for shopkeepers to attend court.Meanwhile, all the securities and rights provided by various labour laws will be adhered to for safeguarding the interests of the labourers.–IANSvg/vd