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Time of India
20 minutes ago
- Time of India
Is Rs 75 lakh worth the tax? Reddit user earning Rs 48 lakh hesitates to accept new job offer
A Reddit user's high-salary dilemma ignited online debate. The user questioned accepting a Rs 75 lakh job due to increased taxes. Currently paying Rs 12 lakh, taxes would double with the new income. The user asked why work harder to pay more taxes without added benefits. Other users trolled the post, calling it 'stupid' and 'suffering from success'. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Here's what other users said A Reddit user earning Rs 48 lakh, who has received a job paying Rs 75 lakh has a dilemma that has sparked an online debate on the platform. In the post, the user claims to have 20 years of experience but is hesitant to accept the new job because of the massive rise in tax t hat comes with the higher the user pays around Rs 12 lakh in income tax and with the new salary, the tax would nearly double to Rs 22 lakh, mainly because of the 10% surcharge applicable on income exceeding Rs 50 lakh under India's personal income tax gross jump in salary looks good but the effective gain in take-home pay is only about 50%, after a major chunk is paid in post added that the new offer does not come with flexibility to include tax-saving components, such as allowances or benefits, which could have reduced the posed a single question that has the Reddit community in discussion: 'Why should I work significantly harder just to pay more to the government, without receiving any additional tangible benefits compared to those who pay little or no tax?'Internet users trolled the post for being "profoundly stupid" and said that he was suffering from some explained why the user should accept the job, others bluntly called him 'stupid'.'Ye kya suffering from success post hai bhai? We don't reply to such issues cause we don't have the experience of success,' an irritated user said.'So... You're taking home 50% more pay than you are right now, but you don't want that because you'll be paying more in taxes? Give me your problems, bro,' another user a sarcastic jibe, one user said, 'Quit your job. Will decrease tax burden by 100%''It's been a while since I read something this profoundly stupid,' added another.'This is a very stupid question. Specially from someone with 20 years of experience. I'd expect this from a fresher,' said another user. 'Just extremely extremely stupid. I don't know why but I'm actually offended at this,' the user added.'If you want to rant about tax it's fine. But your premise that 'I'd get a 50% salary bump, should I take the job?' Is so so so stupid,' they being criticised for the post, the user replied: "Most of the comments are missing the point: Why slog your a** off and pay double the tax to the government, when you do not get any additional benefits from the government compared to a non-taxpayer? Does it not rile you all internally?"
Economic Times
20 minutes ago
- Economic Times
Indian economy has look and feel of 'steady as she goes' for FY26: Finance ministry
ANI Representational image Indian economy has the look and feel of "steady as she goes" for the current fiscal, the finance ministry said on Monday even as it flagged slowing credit growth. In its monthly economic review, the ministry said the first quarter of fiscal 2025-26 (FY26) presents a picture of resilient domestic supply and demand fundamentals. With inflation remaining within the target range and monsoon progress on track, the domestic economy enters the second quarter of FY26 on a relatively firm footing. While geopolitical tensions have not elevated further, the global slowdown, particularly in the US (which shrank by 0.5 per cent in Q1 2025), could dampen further demand for Indian exports. "Continued uncertainty on the US tariff front may weigh on India's trade performance in the coming quarters. Slow credit growth and private investment appetite may restrict acceleration in economic momentum," it said. Further, given the deflationary trend in the wholesale price index, one has to observe economic momentum in nominal quantities. Measured in constant prices, economic activity may appear healthier than it is, the review report said. "All that said, the economy has the look and feel of 'steady as she goes' as far as FY26 is concerned," it said. The report noted despite monetary easing and a strong bank balance sheet, credit growth has slowed, reflecting cautious borrower sentiment and possibly risk-averse lender behaviour. "A growing preference for bond markets, particularly commercial papers among corporates due to lower borrowing costs, may also explain the shift," it said. Piggybacking on initiatives like the Employment Linked Incentive (ELI) scheme, the ministry said it is time for corporates to set the ball in motion. The Reserve Bank has cumulatively reduced the short-term lending rate (repo) by 100 basis points since February. With an outlay of Rs 99,446 crore, the ELI scheme aims to incentivise the creation of more than 3.5 crore jobs in the country over a period of 2 years, with special focus on the manufacturing sector. The report said that despite global headwinds marked by trade tensions, geopolitical volatility, and external uncertainties, India's macroeconomic fundamentals have remained resilient. Aided by robust domestic demand, fiscal prudence and monetary support, India appears poised to continue as one of the fastest-growing major economies, with various forecasters, including S&P, ICRA, and the RBI's Survey of Professional Forecasters, projecting GDP growth rates for FY26 in the range of 6.2 per cent and 6.5 per cent, it said. The report said high-frequency indicators reflected broad-based strength, registering strong year-on-year growth. While the manufacturing and construction sectors continued to expand, the services sector anchored the overall economic growth in Q1 of FY26. As of now, favourable progress in the southwest monsoon has bolstered agricultural activity, leading to higher kharif sowing compared to the previous year. Adequate fertiliser availability and comfortable reservoir levels augur well for a healthy harvest outlook, providing fresh impetus to rural incomes and consumption, the ministry said.
Indian Express
20 minutes ago
- Indian Express
Railways targets to complete these 8 Mumbai-Ahmedabad bullet train stations by 2027
Mumbai-Ahmedabad Bullet Train Project: The Ministry of Railways is working in full swing for the completion of India's first bullet train project. The 508-km-long bullet train project stretches from Mumbai to Ahmedabad. The Mumbai Ahmedabad High Speed Rail (MAHSR) corridor is being implemented by the National High Speed Rail Corporation Limited (NHSRCL). The Mumbai-Ahmedabad bullet train project is being developed at a total estimated cost of Rs 1,08,000 crore. Out of these, Cumulative Financial expenditure of Rs 78,839 crore has been incurred on the project till June 30, 2025. The Ministry of Railways is targeting to complete Gujarat portion of the Mumbai-Ahmedabad bullet train by 2027. In a written reply in Lok Sabha on July 23, Railway Minister Ashwini Vaishnaw said, 'The Gujarat portion of the corridor between Vapi and Sabarmati is planned to be completed by Dec, 2027.' The Minister was responding to a question raised by Lok Sabha MPs Mukeshkumar Chandrakaant Dalal and Devusinh Chauhan. The Mumbai-Ahmedabad bullet train corridor will have 12 stations. These are: Mumbai, Thane, Virar, Boisar, Vapi, Billimora, Surat, Bharuch, Vadodara, Anand, Ahmedabad and Sabarmati. Thus, the national transporter will complete Vapi to Sabarmati section of the MAHSR corridor by December 2027. The Vapi-Sabarmati bullet train section will have eight stations – Vapi, Bilimora, Surat, Bharuch, Vadodara, Anand, Ahmedabad and Sabarmati. Additionally, the Railways has also targeted to complete the entire MAHSR project by 2029. 'The entire project (Maharashtra to Sabarmati section) is expected to be completed by Dec, 2029,' the minister said. Earlier this month, the first breakthrough was achieved in the 21 km long tunnel being constructed between Bandra-Kurla Complex (BKC) and Shilphata in Maharashtra, marking the successful completion of a 27 km continuous tunnel section. Out of the total 21 km tunnel, 5 km is being constructed using the New Austrian Tunnelling Method (NATM) between Shilphata and Ghansoli, while the remaining 16 km will be built using Tunnel Boring Machines (TBMs). The tunnel also includes a 7 km long undersea section beneath Thane Creek. Anish Mondal is a business journalist with over nine years of experience. He writes on diverse subjects such as Infrastructure, Railways, Roadways, Aviation, Politics, Market, Parliamentary affairs, Corporate earnings, General and International news etc. ... Read More
