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Govt considers cutting personal income tax to lift consumption, sources say

NEW DELHI, Dec 26 (Reuters) – The government is considering cutting income tax for individuals making up to 1.5 million rupees ($17,590) a year in February’s budget to provide relief to the middle class and boost consumption as the economy slows, two government sources told Reuters. The move could benefit tens of millions of taxpayers, especially city dwellers burdened by high living costs, if they opt for a 2020 tax system that strips exemptions like housing rentals. Under that system, annual income of 300,000 rupees to 1.5 million rupees is taxed at between 5% to 20%. Higher income draws 30%.

Rupee ends at record closing low for 3rd straight session as dollar firms

MUMBAI, Dec 26 (Reuters) – The Indian rupee settled at a record closing low for a third consecutive session on Thursday, pressured by a firm dollar and importers’ month-end dollar demand. The rupee ended at 85.2625 to the dollar, against 85.20 in the previous session. It hit an all-time low of 85.2825 earlier in the session. “Importers were pretty active in the session, while trading volumes were relatively low towards the year-end,” a trader with a private bank said. The rupee’s drop to 85 from 84 happened over two months, while the decline to 84 from 83 took nearly 14

Justice Guhanathan Narendar takes oath as Uttarakhand High Court Chief Justice

Dehradun, Dec 26 (PTI) Andhra Pradesh High Court judge Justice Guhanathan Narendar took oath as the Chief Justice of the Uttarakhand High Court on Thursday. The oath was administered by Governor Lt Gen (retd) Gurmit Singh at an event held at the Raj Bhawan. Justice Narendar was appointed as the Chief Justice of the Uttarakhand High Court on December 23 by President Droupadi Murmu. He succeeds Justice Ritu Bahri. Born on January 10, 1964, completed his graduation in Bachelor of Arts and LL.B and Enrolled as an Advocate on 23rd August, 1989 in the Bar Council of Tamil Nadu. Commenced

Prayers and tears mark 20 years since the Indian Ocean tsunami that killed some 230,000 people

BANDA ACEH, Indonesia, December 26, 2024 (AP) — People gathered in prayer and visited mass graves in Indonesia’s Aceh province on Thursday to mark 20 years since the massive Indian Ocean tsunami hit the region in one of modern history’s worst natural disasters. Many wept as they placed flowers at a mass grave in Ulee Lheue village, where more than 14,000 unidentified tsunami victims are buried. It is one of several mass graves in Banda Aceh, the capital of Indonesia’s northernmost province, which was one of the areas worst hit by a magnitude 9.1 earthquake and the massive tsunami it

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