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Nine killed in separate road accidents in Karnataka

Bengaluru, Dec 21 (IANS) Nine people, including two children and three students were killed in separate road accidents reported from Bengaluru Rural and Mandya districts in Karnataka on Saturday.

In the first incident, six persons were killed on the spot on the Bengaluru-Pune National Highway-4 near Taalekere village, close to T. Begur near Nelamangala town on the outskirts of Bengaluru. A container truck overturned and crushed their car.

All six victims, travelling in the car, were from the same family, including two children. The deceased were identified as Yagappa Gol (48), Gowra Bai (42), Deeksha (12), Jaan (16), Vijayalaxmi (36), and Ayra (6). All were residents of Vijayapura district.

The police stated that the family was on a weekend trip when the tragic accident occurred. The incident happened after the truck driver lost control over the vehicle, causing it to overturn and crush the car.

The crash also caused a 10-kilometer-long traffic jam on the national highway. The impact was so severe that three cranes were required to move the container and retrieve the bodies trapped underneath. The family had purchased the car just six months ago.

Speaking to the media, the truck driver, Arif, who is undergoing treatment at the hospital, claimed the accident happened while he was trying to avoid hitting a car ahead of him.

“I was driving towards Bengaluru from Dabaspet town. While trying to avoid crashing into the car in front of me, my truck crossed the divider and overturned. The accident happened because of the car ahead. I am deeply pained by the incident. I couldn’t remember anything immediately after the accident. When I regained consciousness, the car was under the truck,” he explained.

In another accident, three students were killed and another was critically injured on National Highway 209 near Bosegowdanadoddi, close to Mandya city, on Saturday.

The deceased were identified as Pranav, Akash, and Adarsh, while Pruthvi is in critical condition.

The victims were travelling from Bengaluru to the tourist spot Talakadu in Mysuru district. According to police, the accident occurred when their car, after overtaking an RTC bus, collided with a truck coming from the opposite direction. The incident occurred within the Malavalli police station limits.

–IANS

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Pakistan’s GDP growth rate likely to fall below IMF estimate

New Delhi, Jan 7 (IANS) The sharp decline in Pakistan’s exports and the damage caused to the agricultural sector due to the floods are expected to pull down the country’s growth rate to below the IMF’s estimate, according to an article in the Pakistani media.

The article in the Business Recorder by eminent Pakistani economist Hafiz Pasha points out that the country’s exports have plunged by as much as 14.5 per cent in November 2025 and by 6.2 per cent in the first five months. In particular, there has been a fall in exports of rice by 49 per cent, with volume falling by 40 per cent. This indicates that the fall in rice output may have been larger than anticipated. Also, exports of textiles have shown little growth.

The above trends indicate that the expectations of the GDP growth rate by the Planning Commission and the IMF are somewhat on the high side. A more likely projection of the GDP growth rate in 2025-26 is 3 per cent. This will imply that the rate of unemployment could rise by 1.2 percentage points in 2025-26. The number of unemployed could increase by almost 1 million, the article stated.

The IMF projection of the GDP growth rate in 2025-26 is at 3.2 per cent. This is also a reflection of the lowering from the original estimate of 3.6 per cent, presumably again because of the negative impact of the floods.

The article also points out that the Annual Plan expects the level of gross fixed capital formation in Pakistan to rise to 13 per cent of the GDP, from 12 per cent of the GDP in 2024-25. The bulk of the increase is anticipated from private investment.

The IMF also expects the level of fixed investment to rise to just above 13 per cent of the GDP. It, however, anticipates government investment to fall by 0.2 per cent of the GDP.

The article highlighted that the outstanding bank credit to the private sector as of November 2025 has shown a small decline of 2 per cent since November 2024. This has happened despite the relatively low interest rates. However, this drop in credit to the private sector is not reflected in imports of machinery. They have shown a big increase of 13.5 per cent. With the exception of power-generating machinery, all other types of machinery imports have increased.

It further states that there has been an increase in development expenditure by the federal and provincial governments combined of only 6 per cent. It stands at less than 0.3 per cent of the GDP in the first quarter of 2025-26.

“Overall, it appears that the target of gross fixed capital formation of 13 per cent of the GDP will become difficult to achieve. It is likely to be closer to 12.5 per cent of the GDP. The shortfall is likely in public investment, especially in light of the big and growing shortfall in tax revenues,” the article stated.

The article also pointed out that the first months of 2025-26 have witnessed a somewhat rising trend in the rate of inflation, from 4.1 per cent in July 25 to 5.6 per cent in December 2025. As such, the average rate has been close to 5 per cent, 0.5 percentage points above last year’s average. There is a noticeable upsurge in prices of wheat and wheat flour, sugar, gas charges and fresh fruits of above 20 per cent. Fortunately, there has been a significant fall in prices of pulses, potatoes, tea, and electricity charges.

However, the sharp rise in inflation in Pakistan has come at a time when International prices have shown a visible downward tendency. The World Bank International Commodity Price Index has declined by almost 7.0 per cent in July – September 2025, as compared to the level in July – September 2024, the article added.

–IANS

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GST reforms will boost economy, livelihood, MSME sectors: NE CMs

Itanagar/Kohima, Sep 4 (IANS) Chief Ministers and leaders of several Northeastern states on Thursday hailed the Centre’s reforms made in Goods and Services Tax (GST) and said that the steps would boost the livelihood of the people and enhance the economic prosperity of various sectors, including Micro, Small, and Medium Enterprises (MSMEs).

Arunachal Pradesh Chief Minister Pema Khandu and Deputy Chief Minister Chowna Mein have lauded the Next-Generation GST framework as a historic step, stating it is in line with “Prime Minister Narendra Modi’s vision of ease of living and doing business”.

Khandu, in a post on X said, “What began as a bold vision shared by Hon’ble PM Shri Narendra Modi Ji in his Independence Day address from the Red Fort has taken concrete shape.”

He said that the GST Council, in a unanimous decision, has endorsed the Union Government’s proposals for Next-Generation GST reforms.

“This path-breaking initiative is designed with citizens at its core, bringing relief to farmers, MSMEs, traders, women, youth, and the middle class, while also driving efficiency, transparency, and ease of doing business across the nation. It is not merely a tax reform, but a decisive stride towards strengthening livelihoods and powering India’s economic momentum. My deep appreciation to Hon’ble PM Modi Ji and Hon’ble FM Smt. Nirmala Sitharaman Ji for steering this historic transformation,” Khandu said.

Deputy Chief Minister Mein, who attended the 56th meeting of the GST Council in New Delhi, chaired by Union Finance Minister Nirmala Sitharaman on Wednesday, in a post on X said: “GST reduced from 12 per cent to zero per cent on 33 lifesaving drugs and medicines. GST reduced from 5 per cent to zero per cent on three life-saving drugs and medicines for the treatment of cancer, rare and chronic diseases. The GST on spectacles and goggles for correcting vision reduced from 28 per cent to 5 per cent.”

Mein in another post on the X said: “Glad to be part of a landmark step in GST reforms, undertaken for the welfare of the common people. As envisioned by Hon’ble PM Shri Narendra Modi ji in his Independence Day address, the next generation GST is designed to bring ease of living for citizens while further strengthening our economy.”

“These new GST rate cuts and reforms will benefit farmers, MSMEs, the middle-class, women, and youth. These wide-ranging measures will not only improve the lives of our people but also ensure ease of doing business, especially for small traders and enterprises,” the Arunachal Deputy CM said.

Tripura Chief Minister Manik Saha also hailed the GST reforms. Saha, while talking to the media, said that the Prime Minister, during his Independence Day speech, had indicated the GST reforms.

Thanking the Prime Minister and Union Finance Minister for the GST rate cut, the Chief Minister said: “The GST reforms would make life easier and people would be hugely benefited. Along with the common men, businessmen and traders would also get benefits from the reforms. For the interest of the common men and various sectors, the Modi government has been doing one reform after another.”

Nagaland Chief Minister Neiphiu Rio also hailed the GST reforms, saying that the steps would further strengthen India’s economic growth. In a post on the X, Rio said: “My sincere appreciation to the Hon’ble Prime Minister Narendra Modi Ji and Union Finance Minister Nirmala Sitharaman Ji for introducing the Next-Gen GST Reform. This citizen-centric initiative simplifies the tax structure, eases compliance, supports MSMEs, & strengthens India’s economic growth.”

Former Manipur Chief Minister N Biren Singh, hailing the Centre for the GST reforms, said that the steps would empower small businesses, create jobs, and bring relief to families.

Singh in a post on the X said: “I extend my sincere gratitude to Hon’ble Prime Minister, Shri Narendra Modi ji, for this historic GST reform. These changes, endorsed by the GST Council, will definitely empower small businesses, create jobs, and bring relief to families.”

“I see this as a defining moment for India’s economic strength, resonating with the ongoing growth in the Northeast region as well. Hon’ble PM Shri Narendra Modi ji’s leadership continues to inspire hope, and I applaud this step to further advancement of the nation’s growth,” he said.

Assam Chief Minister Himanta Biswa Sarma on Wednesday night said that the GST reforms would boost the small and medium businesses, spur job creation, increase consumption, and, most importantly, leave more money in the hands of our people.

Taking to his official X account, Sarma had said: “Assam extends heartfelt gratitude to Hon’ble Prime Minister Shri Narendra Modi Ji for ushering in one of the most consequential reforms in India’s GST structure, and to the GST Council for ensuring these changes see the light of day.”

He said: “The new regime agreed upon today will serve as a super booster for the Indian economy, bringing agility to small & medium businesses, spurring job creation, driving consumption, and most importantly, leaving more money in the hands of our people. Having closely followed the evolution of GST over the last 8 years, particularly during my tenure as Assam’s Finance Minister, I see this as a defining moment. India’s ability to successfully implement GST and also to adapt and reform- when required- is a shining testament to the Modi Government’s firm yet flexible approach to governance.”

–IANS

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