After notification, the welfare fee will be collected from aggregator platforms. The amount will be transferred to the Karnataka Gig Workers’ Social Security and Welfare Fund. Officials said the process will begin after the gig workers’ welfare board is formally constituted. Karnataka is among the first states to implement a funding model under gig worker welfare law.

The Karnataka Platform-based Gig Workers Act allows the government to impose a fee between one and five percent. Different rates and transaction caps are also permitted under the Act. However, the state chose a uniform rate after consultations with industry stakeholders.

The framework does not clarify who will bear the financial burden. Platforms may absorb the cost or pass it on to consumers. Industry executives earlier warned that fresh levies could affect profitability. The welfare fund will also receive worker contributions and government grants. The fund will support health cover, accident insurance, and social security benefits.

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He stated that the country is shifting from enforcement-driven compliance to governance built on trust. The reforms aim for fair, proportionate, and transparent mechanisms while protecting fiscal integrity.

NITI Aayog released the second working paper in its Tax Policy Series, titled “Towards India’s Tax Transformation: Decriminalisation and Trust-Based Governance.” The paper reviews criminal provisions in the Income-tax Act, 2025, proposing decriminalisation of minor defaults and reinforcing judicial discretion. It suggests limiting imprisonment to serious cases of fraud or willful evasion.

Officials and tax experts, including representatives from CBDT, CBIC, ICAI, and DPIIT, attended the discussion. Subrahmanyam highlighted that the reforms will reduce litigation, improve investor confidence, and strengthen voluntary compliance. The roadmap aims to create a fair, predictable, and globally competitive tax system built on trust.

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From September 22, GST 2.0 will reduce the current four-rate structure to two slabs: 5 per cent and 18 per cent. Taxes on several goods have been cut, promising immediate relief for consumers. Market participants expect the reforms to boost business sentiment.

US President Donald Trump announced a sharp increase in the H-1B visa fee to $100,000. The fee will apply only to new visa applications. Any progress in India-US trade negotiations could further impact investor confidence, as a US delegation is currently in India.

The domestic market ended last week on a strong note. Nifty gained 0.85 per cent to 25,327.05, while Sensex rose 721.53 points to 82,626.23. Sectoral indices such as PSU banks, realty, energy, and services recorded healthy gains. FIIs sold equities worth Rs 1,327.38 crore, the lowest outflow in weeks, while DIIs bought Rs 11,177.37 crore.

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