India's GST collection remained above Rs 1 lakh crore for the third month in a row at over Rs 1.17 lakh crore in September, raising expectations that second half of the year will post higher revenues. The tax collections in September on goods sold and services rendered was 23 per cent higher than Rs 95,480 crore collected in September 2020, and 27 per cent higher than Rs 91,916 crore collected in September 2019. The collection in September is the highest in five months since April, when revenue was at record high of Rs 1.41 lakh crore.
Mop up grows 10% y-o-y at Rs 1.05 trillion, almost equal to levels in February before a nationwide lockdown to contain the coronavirus pandemic
The broad trends of GST collections will make you wonder if indeed the biggest indirect tax reform in the country has led to a real improvement in revenues, notes A K Bhattacharya.
As more organisations across sectors awaken to the far-reaching benefits of having skilled data professionals on board, the demand is projected to grow by 28% by 2026, notes Subramanyam Reddy, founder and CEO, KnowledgeHut, a global edtech firm.
The government will set up 16 new medical colleges over the next five years.
If the protected growth in GST revenue is reduced to 10 per cent, the Centre would save more than Rs 25,000 crore in 2020-21 if none of the states show any revenue growth. This would nearly amount to 0.1 per cent of the gross fiscal deficit and help the government in avoiding fiscal slippage to some extent in subsequent years.
Big-ticket investments taking off is crucial for Kerala given the years it lost to labour militancy courtesy the same political forces currently in power, explains Shyam G Menon.
A bench of Justices DY Chandrachud and Hima Kohli said an attack on individuals does not mean it is an attack on the community but it needs to verify the claims of any such incident if it is made in the public interest litigation.
'IIM Ahmedabad has seen one of the best placement seasons ever and this change can be attributed to the markets opening up after the pandemic.'
Corporate India handed over an average increment of 8 per cent in 2021, and early estimates reveal that average increment for 2022 is expected to increase to 8.6 per cent in line with a healing economy and improving confidence, according to a Deloitte survey. As per the second phase of Deloitte's Workforce and Increment Trends survey 2021, 92 per cent companies gave an increment in 2021 at an average of 8 per cent, compared with only 4.4 per cent in 2020, where just 60 per cent companies had extended a pay hike. For 2022, average increment is expected to increase to 8.6 per cent, at par with the pre-pandemic levels of 2019, the survey said, adding that about 25 per cent companies surveyed have projected a double-digit increment for 2022.
The volume of shares traded in the stock market had fallen 28 per cent in April. Turnover, or the value of securities changing hands, fell 12.6 per cent. This trend of falling volumes seems to have stabilised in May.
'Today's generation can learn from him how not to hurt anyone's sentiments at a time when many stand-up comedians deliberately set out to do so.'
Companies in India are expected to dole out an average increment of 7.3 per cent to employees this year amid faster-than-expected economic recovery and revival in business and consumer confidence, according to a survey. The first phase of the 2021 Workforce and Increment Trends Survey by Deloitte Touche Tohmatsu India LLP (DTTILLP) also said the average increment this year will be higher than 4.4 per cent seen in 2020 but lower than 8.6 per cent given by companies in 2019. As many as 92 per cent companies that participated in the survey plan to give an increment in 2021 compared to only 60 per cent last year.
The most popular benefit across all demographics is company health care programs to compensate for the increased costs of medical care.
In 2019-20, Gopinathan had received a total remuneration of Rs 13.3 crore. According to TCS' annual report for 2020-21, Gopinathan received Rs 1.27 crore in salary, Rs 2.09 crore in benefits, perquisites and allowances, and Rs 17 crore in commission. TCS chief operating officer N Ganapathy Subramaniam drew a pay package of about Rs 16.1 crore in the last financial year. This includes Rs 1.21 crore in salary, Rs 1.88 crore in benefits, perquisites and allowances, and Rs 13 crore in commission.
The company will utilise this time to carry out maintenance work at its manufacturing plants.
N Chandrasekaran saw his annual compensation rise to Rs 25.6 crore.
An official statement said the commission has used its helpline to undertake various well-being surveys and identification of children who have lost their parents due to COVID-19 using data provided by the Delhi government's health department.
Ensure that you get a high sum insured. Also, make sure the policy covers the cost of implants (pacemaker, stent, etc), and pre and post-hospitalisation expenses.
India's projected economic growth for 2022 has been downgraded by over two per cent to 4.6% by the United Nations, a decrease attributed to the ongoing war in Ukraine, with New Delhi expected to face restraints on energy access and prices, reflexes from trade sanctions, food inflation, tightening policies and financial instability, according to a UN report released on Thursday. The UN Conference on Trade and Development (UNCTAD) report downgraded its global economic growth projection for 2022 to 2.6 per cent from 3.6 per cent due to shocks from the Ukraine war and changes in macroeconomic policies that put developing countries particularly at risk. The report said while Russia will experience a deep recession this year, significant slowdowns in growth are expected in parts of Western Europe and Central, South and South-East Asia.
The shortfall in the Centre's GST collections has raised concerns over it meeting the fiscal deficit target of 3.3 per cent of GDP, reports Ishan Bakshi.
A road map could be laid out for a gradual reduction in the tax rates from the current incidence of about 62-94 per cent without causing a major blow to the revenues of the Centre and the states. The opportunity arising out of higher GST collections should not be squandered, says A K Bhattacharya.
'What is most distressing is that the revival of the economy, creation of more employment, and reducing poverty are not on the agenda of the government at all.' 'We are an economy on the verge of a demographic disaster.'
The employment situation remains dire. Whatever can be done to promote greater low-skill employment should be pursued aggressively, advises former chief economic adviser Shankar Acharya.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
The mop-up could have been much higher, but tax on imports fell 2 per cent y-o-y.
8 CEOs on the list are female, and they far outpace the median pay for the Equilar 100 as a whole
'Over the next two quarters, markets will be guided by observing the earnings resilience of corporates during the second lockdown, progress of the monsoon and the damage, if any, to rural spending power due to the second wave.'
The committee, which was formed by the National Human Rights Commission chairman on a direction by a five-judge bench of the high court, also said that these cases should be tried outside the state.
'What happened was that over a period of time, the data analytics showed that many were claiming it and that it was being misused'
Squeezing growth prospects in IT services firms and higher compensation in technology centres run by global companies are the two factors driving this trend.
The net indirect tax collection in 2020-21 grew 12.3 per cent annually to Rs 10.71 lakh crore, thereby exceeding the target set in revised estimates, the Finance Ministry said on Tuesday. The mop-up through indirect taxes, which include GST, Customs and excise duties, was Rs 9.54 lakh crore in 2019-20. In the Revised Estimates (RE) for 2020-21, the target was set at Rs 9.89 lakh crore. Net collections from Goods and Services Tax (GST) stood at Rs 5.48 lakh crore during 2020-21, an eight per cent drop compared to Rs 5.99 lakh crore in the previous fiscal year.
After last year's lull, number of offers jump by 15%.
The executive remuneration for FY2020 is lower than FY2019 in view of the economic conditions impacted by the COVID-19 pandemic. The directors have decided to moderate the executive remuneration for this year to express solidarity and conserve resources.
Like their international peers, Indian CEOs too have a significant portion of their incomes coming from stock options and performance-linked bonuses
US women's soccer team say lawsuit about more than money
'There will be two to three months of containment, and when there is normalcy, the risk is a relapse and a return to lockdowns.'
Concerns among the Indian employees about fairness of their compensation and career objectives could be the key reasons for them to switch jobs.
The fall in investment rate is not surprising. But putting it together with rising share of wages in GVA, it shows that the focus is more on productivity, rather than adding new capacity, says Pronab Sen, former chief statistician of India.
While salary growth may range from a marginally positive to stagnant or even negative, the increment for some of the "super-specialised" profiles can go beyond 15%.
