Finance Minister Nirmala Sitharaman today announced sweeping reforms to India’s GST regime, calling it a “Diwali gift to the nation.” The GST Council approved reducing the current four slabs of 5, 12, 18 and 28% into a simplified two-rate structure of 5% and 18%. A special 40% slab will apply to high-end cars, bikes, tobacco and cigarettes. The new rates will take effect on September 22. Officials say the move is aimed at boosting domestic consumption while offsetting an expected revenue loss of ₹50,000 crore.
Lisbon funicular crash kills 17
In Europe, at least 17 people have died and 18 others were injured after Lisbon’s iconic Gloria funicular derailed and crashed. The funicular, a major tourist attraction in the Portuguese capital, came off its tracks late Wednesday. Authorities have launched an investigation to determine the cause of the derailment.
Netanyahu rejects Hamas truce offer
In the Middle East, Israeli Prime Minister Benjamin Netanyahu’s office rejected a truce deal proposed by Hamas that would have included the release of all Israeli captives. Netanyahu insisted the war could end “immediately” only under terms set by his cabinet. His remarks came after far-right Israeli Minister Bezalel Smotrich unveiled a plan to annex nearly all of the occupied West Bank.
Epstein survivors seek accountability
In the United States, survivors of Jeffrey Epstein’s sexual abuse announced they are compiling a confidential list of Epstein’s associates alleged to have been involved in the abuse network. The announcement was made on the steps of the US Capitol at an event organised by lawmakers pushing for more Epstein-related files to be released to the public.
