Moody's Investors Service on Tuesday slashed India's growth forecast for the current financial year to 9.3 per cent saying that the second wave of coronavirus infections hampers economic recovery and increases risk of longer-term scarring. Moody's, which has a 'Baa3' rating on India with a negative outlook, said obstacles to economic growth, high debt and weak financial system contrain sovereign credit profile. The US-based rating agency had in February forecast a 13.7 per cent economic growth for the current fiscal (April 2021-March 2022).
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
Ever since MindTree, the mid-sized information technology and research services firm, acquired Aztecsoft in 2008, it has had a clear strategy in mind.
Infosys, India's second largest information technology (IT) services company, is likely to book an impact of less than $1 million (Rs 6 crore) due to the financial irregularities in the accounts of its business process outsourcing (BPO) arm, which led to the dismissal of the unit's chief financial officer, Abraham Mathews earlier this week.
There is much work to be done to design a good GST.
We'll see what happens with Brexit. Either way, there will be technology spends because people have to develop and modify new systems.
In the upcoming round of privatisation, unviable airports are likely to be clubbed with six main airports and a prospective bidder may be restricted to bid for two airports.
Government will create conducive environment for fund managers: CM
Company identifies areas like cognitive technologies, artificial intelligence, man-machine interface, robotics
Illegal routing of international calls is assessed to have caused a loss of about Rs 145 crore to the government during the last three financial years, Minister of State for IT and Telecommunication Jyotiraditya Scindia said in a written reply to Lok Sabha. Illegal routing of international calls is done in the guise of local calls by private players, resulting in evasion of connectivity and Access Deficit Charges.
Any company resident in a country has to pay both indirect taxes as well as Income Tax.
Brokerages expect revenue growth at a 7-quarter high but profitability may disappoint.
The search giant's music streaming service in India is priced a third lower than the iPhone maker's subscription fee.
Outlining the Budget estimates for the coming year, the Railway Minister Suresh Prabhu put the plan size at Rs 1.21 lakh crore.
The airline's accounts are yet to be audited.
The airline pitches its product and service, keeps silent about price in a new campaign as it looks to win over young business travelers.
The Indian-American community in the New York-New Jersey-Connecticut tristate area is being targeted by telephone fraudsters.
Infosys President B G Srinivas will join Hong Kong-based diversified group PCCW as Group Managing Director in July, after ending his 15-year old stint with India's second largest IT services firm.
'Non-separation of religion from politics is India's most daunting challenge'
'Remote Working/Work from Home' strategy has been activated to aid social distancing in the impacted regions. Travel advisory across the organisation has been issued with full precautionary measure.
India is worried about Pakistan getting the Taliban to ignite trouble in Kashmir, observes Ramesh Menon.
While Vodafone will hold 45.1% of the shares in the new entity, to be renamed at a later stage, Kumar Mangalam Birla and other promoters of Idea group will hold 26%. Vodafone India will also transfer 4.9% of its shareholding to Idea's promoters for a cash consideration of Rs 38.74 lakh crores.
Indiagames, a provider of online and mobile games, has signed a deal with Bharat Sanchar Nigam to offer its online 'games on demand' service.
Prime Minister Modi has entrusted Amit Shah with the task of coordinating all the agencies with their power to monitor movement and phone calls, says R Rajagopalan.
Concerns are swirling that Japan's dream of hosting the Tokyo 2020 Olympics could be a fatality of the spread of the new coronavirus, jolting organisers, sponsors, and media firms who have spent billions of dollars in the run-up to the event. Global insurers face a hefty bill if the coronavirus forces the cancellation of the Games, with estimates of the cost of insuring the showpiece running into billions of dollars.
A shorter tournament will mean a smaller share from the shrunken central pool of revenues for the eight IPL franchises, not to mention a reduction in gate receipts. Cricket Australia stands to lose some A$300 million ($174 million) should the coronavirus outbreak derail their high-profile home test series against India later this year.
The KPMG global business outlook survey of over 11,000 companies across the world found healthy optimism around key measures such as business activity, revenues and profits.
The company plans to set up Wi-Fi spots in hotels, retail cafes, airports, stadiums, malls and government and education complexes.
The company's revenue rose by 11.7 per cent to Rs 27,364 crore.
Tamil Nadu has cornered around 18.63 per cent of the fresh investments in Q1FY21 and topped the list of state-wise investments. These investments should help create over 67,212 jobs.
Also on the anvil is abolition of distinction between Plan and non-Plan expenditure and replacing it with capital and revenue expenditure
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
The company will structure its services under four business segments -- Data, voice, WiMax and National Long Distance services -- that would help it increase focus on customer segments and improve revenue generation. The group will realign operations of Reliance Globalcom (formerly Flag Telecom), Reliance Globalcom Services (earlier acquired Yipes Enterprises) and Reliance Vanco Group (formerly Vanco Group) under the four proposed verticals.
Leading hotels are taking all precautions but the unusual service the staff has been pressed into puts them at the forefront of COVID fight.
An analysis of S&P BSE 500 companies suggests that promoters of Indian private-sector companies in particular could end up paying at least 20 per cent more as additional tax on the same dividend income.
This is Core's second acquisition in Atlanta.
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances