Regional
India’s opposition Congress asks Modi to tax billionaires more
Jairam Ramesh, senior Congress party leader, said in a post on X that a 2% tax on the wealth of India’s estimated 167 billionaires could raise as much as 1.5 trillion rupees ($18 billion) or about 0.5% of gross domestic product.
India’s main opposition Congress party asked Prime Minister Narendra Modi on Friday to impose an additional tax on the country’s billionaires to generate funds for stretched public services like education and health.
The annual budget will be presented by Finance Minister Nirmala Sitharaman on July 23 at a time of deepening income inequality and high unemployment despite India’s world-beating economic growth of nearly 8% and booming stock markets, Reuters reported.
Jairam Ramesh, senior Congress party leader, said in a post on X that a 2% tax on the wealth of India’s estimated 167 billionaires could raise as much as 1.5 trillion rupees ($18 billion) or about 0.5% of gross domestic product.
“This could pay for schools, hospitals, renewable energy, and many more essential investments,” he said, urging the government to tax the super-rich more.
Wealth concentrated in the hands of the richest 1% of India’s population is at its greatest level for six decades and its percentage share of national income exceeds that of countries including Brazil and the United States, research group the World Inequality Lab, opens new tab reported earlier this year.
Opposition parties are pressing the government to take steps to increase spending on welfare programmes after Modi lost his majority in parliament and had to rely on coalition allies to return to office for the third time.
Government officials earlier ruled out the possibility of taxing the wealth of the ultra-rich, arguing it could encourage them to move to low-tax countries.
Congress also asked Modi to clarify what would be India’s position at the G20 meeting in Brazil later this month on the issue of supporting a global tax on billionaires, a proposal pushed by Brazil, which holds the G20 presidency this year.
Brazil’s proposal, crafted by French economist Gabriel Zucman from the independent EU Tax Observatory, calls for an annual 2% levy on fortunes exceeding $1 billion, which could raise up to $250 billion annually from about 3,000 individuals.
Regional
Twelve US troops wounded in Iran strike on base in Saudi Arabia, US official says
Earlier on Friday, the U.S. military said 273 of them had already returned to duty. Thirteen U.S. troops have been killed in the conflict.
Twelve U.S. troops were wounded, two of them seriously, in an Iranian military strike on Prince Sultan Air Base in Saudi Arabia, a U.S. official told Reuters on Friday.
The latest casualties add to the more than 300 U.S. military service members who have been wounded since the war against Iran started on February 28.
Earlier on Friday, the U.S. military said 273 of them had already returned to duty. Thirteen U.S. troops have been killed in the conflict.
Regional
Trump extends deadline for striking Iranian energy plants to April 7
U.S. President Donald Trump announced a new extension of his deadline for Iran to reopen the Strait of Hormuz or face the destruction of its energy plants, after Iran rejected his 15-point proposal to end the war he launched with Israel.
Iran gave no direct indication that it was ready for negotiation or compromise. The Islamic Revolutionary Guard Corps issued a statement reaffirming that all shipping “to and from ports of allies and supporters of the Israeli-American enemies” to any destination was prohibited.
The war has spread across the Middle East, killing thousands of people and causing the biggest disruption in history to energy supplies, hitting the global economy with soaring oil, gas and fertiliser prices that have fuelled inflation fears.
The U.S. and Israel launched strikes on Iran on February 28 during talks with Tehran about its nuclear programme that had not yet yielded a deal. Attacks on Israel by Iran’s Lebanese ally Hezbollah then triggered an Israeli onslaught there that has displaced a fifth of Lebanon’s population.
On Thursday, Trump threatened during a cabinet meeting to increase pressure on Iran if it did not make a deal. He later posted on social media that he would pause threatened attacks on Iranian energy plants for 10 days until April 6 at 8 p.m. Eastern daylight time (0000 GMT on April 7).
“Talks are ongoing and, despite erroneous statements to the contrary by the Fake News Media, and others, they are going very well,” he added in his Truth Social post.
Regional
Russia sought to blackmail US using intelligence to Iran, Zelenskiy says
Zelenskiy, who said on Monday that Ukraine’s military intelligence has “irrefutable” evidence that Russia is continuing to provide intelligence to Iran.
Russia sought to blackmail the United States by offering to stop sharing military intelligence with Iran if, in return, Washington would cut off Ukraine from its intelligence data, President Volodymyr Zelenskiy said on Wednesday.
Zelenskiy, who said on Monday that Ukraine’s military intelligence has “irrefutable” evidence that Russia is continuing to provide intelligence to Iran, told Reuters he had seen the data but provided no further details, Reuters reported.
Speaking in his presidential compound in Kyiv, Zelenskiy said that some Iranian drones, used to attack U.S. military assets and its allies during the war in the Middle East, contained Russian components.
“I have reports from our intelligence services showing that Russia is doing this and saying: ‘I will not pass on intelligence to Iran if America stops passing intelligence to Ukraine.’ Isn’t that blackmail? Absolutely,” Zelenskiy said.
He did not say who, according to the reports, Russia was addressing the comments to. Russia has denied assisting Iran in its month-old conflict with the United States and Israel – a denial that Washington said earlier this month that it had also received directly from Moscow when the issue was discussed.
Ukraine, which has faced sustained attacks by Iranian-designed Shahed drones since Russia launched its invasion in 2022, is helping several Gulf states – including Saudi Arabia, the United Arab Emirates, and Qatar – to counter drone attacks on their territory, the president said.
Zelenskiy said he hoped that Ukraine would be able to reach long-term deals with some Gulf countries that would raise funds for the production of Ukrainian drone interceptors or receiving much-needed air-defence missiles, read the report.
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