From Covid-19 essentials, such as Vitamin C supplements and thermometers, to bicycles, laptops, and personal weighing scales, demand for certain items galloped during last financial year as the pandemic altered what Indians used on a day-to-day basis. Imports of outdoor sports equipment, handbags for women, and dentures, among others, plummeted. With outdoor activities coming to a halt last year and schools functioning virtually, imports of sports goods witnessed a decline, while inbound shipments of laptops and battery chargers saw a sharp uptick, according to the import data for the financial year 2020-21.
Petrol price on Thursday was cut by Rs 6.07 per litre and diesel price by Rs 11.75 in Delhi as oil companies passed on a record reduction in excise duty rates to consumers. Buckling under pressure, the government had on Wednesday cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre to give reprieve to consumers battered by record high retail fuel prices. Since states charge local sales tax or VAT not just on the base price but also on the excise duty levied by the centre, the total incidence of price reduction is higher.
We are adapting to the situation by innovating new delivery modelss, launching brand campaigns that are impactful in the current context and closely monitoring changes in consumer buying behaviour, he said.
With respect to the cancelled flights, customers can opt for a full refund or alternative travel dates free of cost.
International Monetary Fund Chief Economist Gita Gopinath tells Indivjal Dhasmana high-frequency indicators for the third quarter of 2021 indicate momentum in economic recovery in India.
In fact, the Taliban apparently collects about 10 per cent as cultivation tax from opium farmers and 15 per cent as heroin tax from laboratories and smugglers that smuggle narcotics into Pakistan. This, by itself, is a revenue stream estimated at USD 250-300 million.
A candidate with good communication skills, critical thinking and problem solving abilities will have a higher chance of being hired.
Billionaire Mukesh Ambani's Reliance Industries Ltd (RIL) has seen pre-tax profit recover to pre-pandemic levels on the back of continued growth in consumer businesses, Moody's Investors Service said on Monday. The oil-to-retail-to-telecom behemoth on Friday reported a 0.7 per cent Ebitda (earnings before interest, tax and depreciation and amortisation) growth for the quarter ended December 31, 2020, compared with the corresponding quarter in the previous year. "A strong performance in digital services and retail segments underpinned the improvement in consolidated earnings, a credit positive," Moody's said commenting on the earnings. Continued growth in earnings combined with the company's strong balance sheet with zero net debt on a reported basis will keep Reliance's credit metrics strong for its Baa2 rating over the next 12-18 months, it said.
Major shareholder Kinnevik, a Swedish investment firm, devalued Quikr by 45%, referring to the exaggerated revenue resulting from fraudulent transactions that rocked the company. Quikr is now valued at about $577 million.
Under the fare policy announced, domestic passengers opting for lowest fares will not be served complimentary meals
The airline has already decided to lease out an A330 to Etihad and plans to lease out two more this year.
Shutting of stores had not stopped alcohol sales. On the contrary, it had increased black market operations and peddling of illicit hooch, which could cause death/serious injury.
Extended check-in time, frequent disinfection every hour, additional queue managers at entry, exit, boarding point, check-in halls, security check areas and boarding gates, with social distancing markers and reminders - welcome to our airports post-coronavirus.
She spins Bollywood tracks when she's not doing her investment consultant job.
E-commerce giants such as Amazon, Netflix and Flipkart, whose headquarters are not in India, potentially have to pay the additional levy of 2 per cent from April 1.
Market estimates suggest the airline has already totted up Rs 1,800 crore of losses in FY20, and FY21 is expected to see losses in the region of Rs 2,500 crore to Rs 3,000 crore Many in the sector say that Vistara lacks the light-footedness of the airlines with which it competes, reports Anjuli Bhargava.
India may soon see a new set of oil barons with lesser-known companies venturing into crude oil and natural gas production. These new kids on the block have come up through a mix of entrepreneurial grit and backing from oil industry veterans. Nippon Power, South Asia Consultancy, PFH (Poddar Family Holdings) Resources and Chennai-based Adbhoot Estates could be the first ones to start production from blocks awarded during the first round of Discovered Small Field (DSF-1) auctions. Adbhoot is in a 50:50 joint venture with the Bombay Stock Exchange-listed Hindustan Oil Exploration Company that has some five oil producing assets and over 10 blocks across the country.
Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.
Taxpayers might face several issues while filing returns this year.
Mobility company Ola's chief financial officer Swayam Saurabh and chief operating officer Gaurav Porwal are leaving the company. These developments come at a time when the SoftBank-backed company's core ride-hailing unit is planning to go public and for which it raised $500 million from Warburg Pincus and Temasek in July this year. These investment firms had partnered with the company founder Bhavish Aggarwal for this round.
The industry chamber is in favour of reopening schools and educational institutions, allowing foreign carriers to operate, permitting usage of restaurants and eateries in hotels, opening up of cinemas and multiplexes, and reopening metro rail services.
Most of the large mid-caps share similar business model as the large-caps and have more of less similar set of clients.
'Government shouldn't be in the business of running airlines, instead it should develop the ecosystem of civil aviation.'
HR Guru Mayank Rautela offers practical advice.
The sector will see a minimum of 3-5 per cent of the weight being shed in almost every IT company - particularly the big 20 - because of Covid and not performance-related issues.
Most feel as the movement of people normalises, the in-patient volumes in hospitals will grow and by the end of May, occupancy should be around 50 per cent, and 75 per cent over a period of time.
A court in Canada has ordered the seizure of amounts collected by the International Air Transport Association (IATA) on behalf of Air India and the Airports Authority of India (AAI). Separate orders were passed on November 24 and December 21 on pleas by shareholders of Devas Multimedia Private Limited who have filed multiple petitions to enforce arbitration awards against the Indian government. According to a Devas spokesperson, more than $30 million has been seized to date under the IATA action.
The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
India is currently home to 52 unicorn startups and one of the fastest-growing startup ecosystems.
It is Air India's only profitable subsidiary. In 2016-17, it clocked a profit of over Rs 33.4 crore, earning Rs 620 crore in revenues from its handling operations.
'Tax dodging through tax havens is one of the ways multinational corporations and the super-rich in India are using to evade taxes.'
The industry is hoping the Tatas deepen their dive and offer two stable airlines -- a Vistara merged into Air India servicing the international routes, and an AirAsia India merged with Air India Express that competes with the low fare airlines in India and offers destinations within five hours, says Anjuli Bhargava.
Justice Misra, 63, has been a part of several key verdicts.
These five stocks, which have lagged the markets over the last two years, have doubled in value since March 23.
'Our focus on fresher induction is high, given that they come in with certain advantages.' 'They do not have an unlearning process as seen in senior employees.'
'There is a time for lowering one's expectations of the economy -- and therefore not trying to do too much in the Budget,' notes T N Ninan.
With 262 planes, IndiGo operated over 1,500 daily flights prior to March 24 but is now operating around 350 scheduled flights a day, which is putting a pressure on its finances.
Indian Railways plans Rs 39,000 crores non-fare revenue. Via: Branding of trains. Vinyl-wrapping of Rajdhanis, Shatabdis and Garib Raths. Moving billboards.
'There is a lot of money coming into the business, people are consuming a lot of content, there is no dearth of new films and shows coming out of India and being available worldwide.'
Petrol and diesel prices were hiked by 80 paise a litre each on Wednesday, taking the total increase in rates in 16 days to Rs 10 per litre.
