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Time of India
7 days ago
- Business
- Time of India
Supports pour in for Monday's statewide strike by bars
Restaurants and bar owners stage a protest against the Maharashtra government's recent tax hikes on alcohol, in Thane on Monday. (ANI Photo) MUMBAI: In a powerful escalation of the State-wide protest against the Maharashtra Governments draconian liquor tax regime, the Hotel And Restaurant Association (Western India) HRAWI has appealed and urged over 11,500 hotels to support the Bar Bandh and No Alcohol call on Monday, July 14th. Thus an AHAR-initiated strike has received a strong backing. Based on HRAWI's advisory, regional hotel Associations across the State, including Palghar, Vasai, Pune, Nagpur, Aurangabad, Lonavala, Mahabaleshwar and Nashik among others, have come out in full support to shut bars and alcohol service areas inside hotels. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai Initiated and supported by HRAWI - the Western wing of India's apex hospitality Association FHRAI, the coordinated industry-wide shutdown is being described as one of the largest and most unified acts of protest in Maharashtra's hospitality history. The protest is a response to the Maharashtra Governments recent decisions to: -Increase in excise duty by a massive 60 per cent, imposition of a 10 per cent Value Added Tax (VAT) on Indian Made Foreign Liquor (IMFL), and hike in annual bar license fees by 15 per cent. This tax hike is nothing short of an existential threat to the hospitality sector. For many establishments, this triple blow will mean shutting shop permanently. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like They Were So Beautiful Before; Now Look At Them; Number 10 Will Shock You Reportingly Undo By participating in this protest, our members are not expressing dissent they are fighting for survival, said Jimmy Shaw, President, HRAWI. The tourism and hospitality industry in Maharashtra is a vital pillar of the State's economy: - supports over 20 lakh direct and indirect jobs, contributes significantly to the State's GDP, and attracts over 15 crore domestic and international tourists annually. Restaurants and bars in hotels form the backbone of tourist and business hospitality infrastructure across key destinations like Mumbai, Pune, Lonavala, Alibaug, Nashik, and more. With the proposed taxes, Maharashtra will become one of the most expensive places in the country to operate a bar, pricing out both operators and tourists, said an HRAWI release. HRAWI anticipates this massive discrepancy in taxation will lead to:-widespread closure of bars and permit rooms, loss of over 4 lakh jobs across Maharashtra, diversion of tourists to neighbouring, more affordable states, and spike in unregulated alcohol consumption in public spaces affecting the overall tourism potential of the state. An average tourist spends between Rs.2,000/- to Rs.5,000/- a day, and a significant part of that is on food and beverage. With these new taxes, Maharashtra is effectively pushing leisure tourism out of reach for Indian families, adds Shaw. The decision by 11,500 hotel-based bars to join the shutdown underlines the depth of concern across the hospitality ecosystem. The impact will be felt from five-star city hotels to budget accommodations in tourist towns, all of whom depend on responsible, regulated alcohol service as part of the guest experience. This is not just about alcohol its about business viability, jobs, and Maharashtra's standing as a tourism-friendly State. We urge the Government to reconsider these punitive measures immediately, added Shaw. HRAWI reiterates its appeal to the Government of Maharashtra to: rationalise the excessive hikes in excise duty, VAT, and license fees, reviewing of the mandatory yearly revision of license fees, Initiating a constructive dialogue with industry bodies, and creating a policy framework that balances revenue goals with industry sustainability. "Until then, July 14th will remain a silent yet powerful protest, where Maharashtras hospitality industry will put business on pause to fight for its future," said the release.
Scotsman
23-06-2025
- Business
- Scotsman
Scottish peatland restoration consultancy expands as nature market flourishes
Leading Scottish peatland restoration consultancy, Caledonian Climate, has opened two new offices to meet the demand for its services. Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Following a strategic relocation from Perth to Edinburgh, the new locations in Inverness and Aberdeenshire will house Caledonian Climate's 15-strong team responsible for high-integrity peatland restoration projects across Scotland. To date, the organisation has successfully restored over 5,500 hectares of degraded peatland, a process which reduces carbon emissions and enhances local biodiversity. Advertisement Hide Ad Advertisement Hide Ad Launched in 2021, the company has gone from strength to strength, successfully putting 2980ha of peatland on the road to recovery in the last year alone, making up 21% of all peatland restored in Scotland in 2023-2024. The company's growth reflects the strength of the wider net-zero sector in the UK. Operations Manager, Andrew Adamson outside of Aberdeenshire office. According to the Confederation of British Industry, the UK's net zero economy rose by 10% in 2024 and generated £83bn in Gross Added Value (GAV), with Scotland's net-zero job market benefiting with 1 in 25 Scottish workers employed in the sector. The peatland restoration consultancy is capitalising on this net-zero revolution. With increasing demands and incentives placed on businesses and landowners to support the Scottish government's ambitious carbon reduction and net-zero strategies, the business has observed increased demand for its services. Freddie Ingleby, Managing Director of Caledonian Climate, commented: 'Since our inception, Caledonian Climate has experienced significant growth. With over 2900ha of peatland restored last year and 20+ restoration phases in the pipeline for 2025/6, we are on track to surpass 10,000 hectares of restoration next year. Advertisement Hide Ad Advertisement Hide Ad "The growth of the business underpins the increasing value of Scotland's natural capital and the demand for high-integrity, high-impact nature restoration projects to accelerate our journey to net zero. Members of the Caledonian Climate team outside Inverness Office 'The new office spaces are designed to support our team in managing an expanding and diverse portfolio of peatland projects, aiding in our mission to accelerate the large-scale restoration and protection of these vital ecosystems.
India Gazette
03-06-2025
- Business
- India Gazette
"Major boost for Bihar's aviation sector": Sanjay Jha praises CM Nitish after cabinet reduced VAT on Aviation Turbine Fuel
Patna (Bihar) [India], June 3 (ANI): Janata Dal (United) MP Sanjay Kumar Jha, on Tuesday, praised Bihar Chief Minister Nitish Kumar after state cabinet reduced Value Added Tax (VAT) on Aviation Turbine Fuel (ATF) from 29 per cent to just 4 per cent. In a post on X, Jha termed it a major boost for Bihar's aviation sector. 'The Bihar Cabinet has taken a landmark step by reducing VAT on Aviation Turbine Fuel (ATF) from 29% to just 4%. For flights under the Regional Connectivity Scheme (RCS), the VAT rate remains unchanged at 1%. Heartfelt gratitude to CM Nitishumar Ji for this progressive decision, one that will encourage more airlines to operate in the state and make air travel more accessible and affordable,' Sanjay Jha said. 'This reform is expected to significantly boost the number of flights from Patna, Darbhanga, and Gayaji, enhancing Bihar's air connectivity and opening new avenues for tourism, trade, and growth,' the JD(U) MP said. Bihar Chief Minister Nitish Kumar chaired a high-level cabinet meeting on Tuesday and approved 47 key proposals, including large-scale infrastructure projects, new government job openings, and significant policy decisions. The Bihar Cabinet approved the creation of 4,858 new posts across various government departments to improve administrative efficiency and public service delivery. Among the major infrastructure decisions, a Rs 1,320 crore plan was approved for setting up a sewerage network project in Sasaram, Aurangabad, and Siwan. In addition, a Rs 328 crore water supply scheme received clearance for Ara, Siwan, and Sasaram cities, aiming to boost urban utility services. The cabinet also approved a new Bridge Maintenance Policy, which would ensure regular inspection, safety checks, and timely repairs of bridges across the state. In a move expected to improve air connectivity, the Value-Added Tax (VAT) on Aviation Turbine Fuel (ATF) in Bihar was reduced from 29 per cent to 4 per cent. A proposal to build a dry dock in Dujra, Patna, was also approved. The facility will be used to repair aircraft, making it the first such unit in the region. In a significant step towards women's empowerment, the cabinet decided that 'Jeevika Didis' (members of the state's women's self-help groups) would prepare clothes for children at Anganwadi centres. The area of Phulwari Sharif, Danapur, and Khagol near the capital of Patna will be expanded, and many villages will become part of these cities. (ANI)
The National
19-05-2025
- Business
- The National
Abu Dhabi's industrial GDP jumps to $30 billion in 2024
Abu Dhabi's industrial economic output increased to Dh111.6 billion ($30.38 billion) in 2024, up 23 per cent since the emirate unveiled its industrial strategy in 2022, according to the chairman of Abu Dhabi Department of Economic Development (Added). The emirate recorded Dh101 billion in industrial gross domestic product in 2023. The number of industries grew 19 per cent to 1,104 during the two-year period, Ahmed Al Zaabi told Make It In The Emirates in Abu Dhabi on Monday. 'We work closely with the Ministry of Industry and Advanced Technology to contribute to Operation 300bn aiming to raise the industrial sector gross domestic product to Dh300 billion by 2031 and align with the UAE's Net Zero 2050 Strategy,' Mr Al Zaabi said. Abu Dhabi's manufacturing sector increased its contribution to 53 per cent of UAE's industrial gross domestic product, compared to a contribution of 51.3 per cent to the UAE's industrial sector in 2023 and 46 per cent in 2022, he added. Abu Dhabi has continued its shift away from oil and has taken several measures to attract international investors, boost its competitiveness and improve the ease of doing business. In 2022, the emirate launched an industrial strategy to improve the contribution of the sector to the economy, by investing Dh10 billion across six programmes to more than double the emirate's manufacturing to Dh172 billion by 2031. Abu Dhabi also laid out long-term strategies to develop sectors including tourism, aviation and technology, with new investments in artificial intelligence. Abu Dhabi's economy expanded by 3.8 per cent annually in 2024 to reach an all-time high value of Dh1.2 trillion as growth of the non-oil sector continued. Last year, Abu Dhabi's manufacturing sector remained the largest non-oil contributor to the emirate's GDP, accounting for 9.5 per cent of total GDP and 17.3 per cent of non-oil GDP, according to Added. Abu Dhabi has been supporting industries with funding as well as in boosting productivity and increasing exports, Mr Al Zaabi added. 'We help them in understating existing economic partnerships and what are the products to focus on and how to benefit from trade agreements.' In the first quarter, the industrial sector continued its growth with the number of new industrial licences rising 4.7 per cent annually to 89 compared, according to Added. The number of industrial licences from under-construction to production stage also surged by 65 per cent to 33 during the period. There remains potential for strong growth in Abu Dhabi's manufacturing industry amid expansion, according to Mohammad Al Kamali, chief industry and trade officer at Abu Dhabi Investment Office. 'We are working very closely with our investor growth team to make sure we attract more investment to come to Abu Dhabi,' he told The National on the sidelines of the Make It In The Emirates event. 'But … we've designed specific products also for the existing manufacturers over here. So, we work with them within an ecosystem that enables them for more productivity and domestic and international growth as well.' Global supply chains have been threatened with disruption in recent weeks over the tariffs threat from US President Donald Trump. 'We have learnt that every challenge will create an opportunity, and that's exactly how we are working on it. We have a diversification in terms of our international markets. We are trying to expand into the existing markets that most of our companies are doing,' Mr Al Kamali said. 'We are trying to update our countries with different regulatory frameworks that's actually happening from an international trade perspective. We also capitalise into our Comprehensive Economic Partnership Agreements that the UAE is signing with many countries. It's coming in force now, currently, and we are benefiting from it as well. So market international diversification is something which we really see a huge potential out of it,' he said. Adio is also focused on promoting localisation in the supply chain, he added.
IOL News
30-04-2025
- Business
- IOL News
The bitter pill? VAT hike's threat to South Africa's agricultural heart and food security
South Africa's Treasury cancelled planned VAT increase amid economic challenges welcomed. The ripple effects of increased input costs will have inevitably reached consumers through higher food prices. Image: IOL/Independent Newspapers By Dr Thulasizwe Mkhabela The recent tabling of the 2025/26 budget, with its proposed 2% increase in Value Added Tax (VAT) spread over two years, has ignited a firestorm of debate. While the National Treasury aims to bolster State coffers, the potential repercussions for South Africa's agricultural sector and, critically, our nation's food security warrant serious scrutiny. This VAT hike presents a significant threat that demands careful consideration. Agriculture, the bedrock of food security and a significant contributor to South Africa's economy, operates on tight margins. Input costs, ranging from fertilisers and pesticides to fuel and machinery, are already substantial and often volatile. A VAT increase directly inflates these costs. Farmers, particularly small-scale producers vulnerable to price fluctuations and lacking economies of scale, will face increased financial pressure. This could lead to reduced productivity, delayed investments in crucial infrastructure and technology, and potentially even farm closures. The ripple effects of increased input costs will inevitably reach consumers through higher food prices. While basic food items are currently VAT-exempt, the increased production, processing, and transportation costs – all subject to VAT – will be factored into the final price. This indirect impact will disproportionately affect low-income households, who already spend a significant portion of their income on food. A seemingly small 1% yearly increasecan translate to a substantial burden on those struggling to put food on the table, exacerbating food insecurity. Furthermore, the VAT hike could stifle growth within the agricultural sector itself. Reduced profitability may deter new entrants, particularly young entrepreneurs, from venturing into farming. It could also disincentivise expansion and innovation, hindering the sector's ability to meet the growing food demands of a burgeoning population. A weakened agricultural sector translates to a less resilient food system, making the nation more vulnerable to external shocks and price volatility in global markets. The argument that increased government revenue from VAT will ultimately benefit the populace through improved services needs to be weighed against the immediate and direct impact on food affordability and agricultural viability. While fiscal responsibility is crucial, policies must be carefully evaluated for their potential to undermine food security, a fundamental human right. The government must explore alternative revenue-generating measures that do not disproportionately burden the agricultural sector and the poor. Targeted support programs for small-scale farmers to absorb increased input costs, coupled with efficient and transparent use of existing tax revenues, should be prioritised. A comprehensive review of the VAT exemption list for essential food items could also be considered to further cushion the impact on vulnerable households. To mitigate the negative effects of the proposed VAT increase on South Africa's agricultural sector and food security, several alternative policy options can be considered: 1. Targeted Subsidies and Support for Agriculture: - Direct Input Subsidies: Implement subsidies on essential inputs like fertilisers and seeds to reduce costs for farmers, especially small-scale producers. - VAT Rebates for Agricultural Inputs: Allow registered agricultural producers to claim VAT rebates on specific farming inputs, effectively zero-rating them. - Financial Support Programs: Enhance low-interest loans or grants for small-scale farmers to invest in technology and infrastructure. 2. Enhancing Food Security for Low-Income Households: - Expansion of Social Safety Nets: Increase the value of social grants to bolster the purchasing power of vulnerable households. - Targeted Food Assistance Programs: Strengthen food assistance initiatives like school feeding schemes and food vouchers for low-income families. - Zero-Rating Additional Basic Food Items: Review and potentially expand the list of VAT-exempt basic food items to alleviate the VAT impact on low-income households. 3. Strengthening the Food Value Chain: - Investment in Infrastructure: Increase investment in rural infrastructure to lower transportation costs and food prices. - Support for Local Food Production: Implement policies encouraging local food production to reduce reliance on imported goods. - Reducing Food Waste: Initiate programs to minimise food waste through training onbetter handling and consumer awareness. 4. Exploring Alternative Revenue Generation Measures: - Progressive Income Tax Adjustments: Adjust the income tax system to ensure higher earners contribute more, rather than increasing VAT. - Wealth Tax: Consider a wealth tax on high-net-worth individuals to generate revenue without impacting basic consumption. - Increased Efficiency in Tax Collection: Improve the efficiency of tax collection to reduce the need for broad tax increases. In conclusion, while the need for fiscal consolidation is understood, the proposed VAT hike carries significant risks for South Africa's agricultural sector and the food security of its citizens. Policymakers must engage in thorough consultations with agricultural stakeholders and food security experts to fully understand the potential deleterious effects and explore more equitable and sustainable alternatives. Failing to do so could sow the seeds of deeperfood insecurity and undermine the long-term health of a vital sector of our economy. The bitter pill of a VAT hike might ultimately leave a far more damaging aftertaste for the most vulnerable in our society and the agricultural landscape that sustains us all. Dr Thulasizwe Mkhabela is an Honorary Research Fellow with the African Centre for Food Security and the University of KwaZulu-Natal Image: LinkedIn
