The information technology services sector will see a sharp fall in revenue growth to 12-13 per cent in FY23 from 19 per cent in FY22, ratings agency Crisil said on Thursday. However, the current depreciation in the rupee, strong demand for new age technologies like artificial intelligence, cloud computing and Internet of Things will help the over $220-billion sector maintain a double digit growth, it said in a report. The moderation from 19 per cent to 12-13 per cent will be the highest in the last eight years, it said and attributed the decline to expected tightening of IT expenditure by corporates amid the inflationary headwinds in the United States and European Union (EU), which together contribute almost 85 per cent to the sector's revenue.
Since existing laws do not cover Covid-19, any compensation in this regard has to be left to the discretion of companies.
The right investment at the right age will help you enjoy a secured post retirement life.
It was their first conversation since Indian-origin Sunak took charge as British prime minister on Tuesday.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
At least 50 per cent of the 2,000-odd employees at Ford's Chennai factory have agreed to restart work at the unit, a Ford India official said on Monday. The plant had to shut down due to a staff strike that started on May 30. The company also warned protesting workers of loss of pay, effective June 14, and urged them to get back to the shopfloor. Ford said it would continue to hold talks with the unions.
Union Minister Nitin Gadkari on Tuesday said if the US-based Tesla is ready to manufacture its electric vehicles in India then there is 'no problem' but the company must not import cars from China. In an interactive session at the Raisina Dialogue, Gadkari further said India is a large market and there is a huge potential for all electric vehicles. "If Elon Musk (Tesla CEO) is ready to manufacture in India then there is no problem ... Come to India, start manufacturing, India is a large market they can export from India," he said. The road transport and highways minister said his request to Musk is to come and manufacture in India.
US-based Tesla is working through a lot of challenges with the government to launch its products in India, the electric car major's founder and CEO Elon Musk said on Thursday. Responding to a tweet on the company's plans to launch its products in India, Musk tweeted: "Still working through a lot of challenges with the government." Last year, Tesla had sought a reduction in import duties on electric vehicles (EVs) in India.
'It is crucial to understand that the ultimate goal of your investments isn't to pay lesser tax, but to create long-term wealth for you and your family,' says Satyen Kothari, founder and CEO, Cube Wealth.
Bhattacharya is now more optimistic than before regarding the adoption of newer technologies, even though she acknowledges there could be short-term challenges owing to the pandemic. Salesforce is among the first global employers to take the 'no lay-off' pledge, pertaining to COVID-19.
LIC is currently allowing customers to revive policies that have lapsed for more than two years.
Parts of electric cars are costlier and repairing often means replacing an entire system, which drives insurance premium rates up.
The Securities and Exchange Board of India (Sebi) has just released a proposal to alter the regulations pertaining to the sponsor system for mutual funds. One of the reasons for the proposed changes is that there are two conflicting regulations that need to be clarified. The other reason is that the sponsor system may itself be outdated as it stands, and the proposed changes would allow new entities such as private equity funds and portfolio management services to enter this space.
Tax planning should not be left for March. If you do so, you could face a severe cash crunch in that month, warns Sanjay Kumar Singh.
Shikha Verma explains how child insurance plans can help you achieve your child's financial dreams.
Norwich Union Life CEO Mark Hodges said that the firm has made significant progress in improving its operational efficiency and is nearing completion on a series of major projects, which would result in the reduction of the number of roles in a business. Aviva has a significant presence in India and has a joint venture with healthcare products maker Dabur. In the life insurance joint venture in India, Aviva has a 26 per cent stake while the rest is held by Dabur.
'If you are a smoker, you should not provide misleading information to the insurer about your smoking habit in the insurance proposal form,' advises Pankaj Razdan.
Merely stating that parking was 'at owner's risk' would not absolve the hotel of its liability.
'The fiscal pressure will be there, but the intent of the government behind this move is to spur demand and growth.'
As long as the money has been 'paid or deposited in the previous year', an assessee should be eligible for tax relief, says Harsh Roongta.
The country's largest lender State Bank of India (SBI) will revamp its banking application (app) YONO and position it as a complete digital bank (DB) under a new rubric 'Only YONO' for enhancing customer experience and ease of use. The bank plans to bring in a consultant to help draw up the project plan, keeping in mind business goals for the next five years. With 54 million monthly active users (MAUs), SBI YONO has seen growth of over 35 per cent in MAUs in 2021.
'It is advisable to invest in them early in life and stay invested for a longer period to achieve long-term goals and accumulate wealth.'
India's HCL Comnet, a subsidiary of HCL Technologies, has got a network management order worth Rs 31 crore (Rs 310 million) from state-run National Insurance Company, the Bombay Stock Exchange said on Friday.\n\n\n\n
Working while studying is an incredible way to build your professional network, learn hands-on experience, and understand the global working environment, suggests Ajay Sharma, president and founder, Abhinav Immigration Services.
If you pledge market-linked instruments and their value plummets, you will have to provide additional collateral, points out Sanjay Kumar Singh.
Consumer sentiments have been dampened due to several factors like tight liquidity, high insurance, and high costs
Addressing the 76th United Nations General Assembly session here, Prime Minister Modi said that today, every sixth person in the world is an Indian.
The heavy industries ministry has asked US-based electric car major Tesla to first start manufacturing its iconic electric vehicles in India before any tax concessions can be considered, government sources said. They said that the government is not giving such concessions to any auto firm and giving duty benefits to Tesla will not send a good signal to other companies that have invested billions of dollars in India. Tesla has demanded reduction in import duties on electric vehicles (EVs) in India.
Human Development -- a measure of a nation's health, education, and average income -- has declined for two years in a row.
To maximise returns even during such bullish phases, it is imperative that investors time their entry and exit from the markets.
Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as the ride-hailing company's revenue declined 65 per cent to Rs 689.61 crore amid COVID-19 induced lockdowns. As per regulatory documents filed by ANI Technologies - the parent company of Ola - it had logged standalone operating profit (profit before finance cost, depreciation, amortisation and tax (EBITDA)) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the preceding fiscal year.
'It is folly to think that religious-identity-based politics and a flourishing economy can co-exist in a diverse society.' 'We can fight and kill each other, or fight together and kill poverty. We cannot do both,' says Dasarathi G V.
Ensuring health insurance for all workers would be major challenge for the industry that is already grappling with cash crunch, and the government should have borne the cost.
The following is the full text of US President Donald Trump's first address to a joint session of the Congress on February 28, as prepared for delivery and released by the White House press office.
Here's how you can ensure you have enough in your kitty and be in command of your finances.
The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.
Customers should be fully aware of what their policy covers and should follow claim procedures meticulously, says Sanjay Kumar Singh.
Union Minister Nitin Gadkari on Friday said he has asked US-based Tesla several times to manufacture its iconic electric vehicles in India, while assuring that all support will be provided by the government to the company. Addressing 'India Today Conclave 2021', Gadkari further said electric cars manufactured by Tata Motors are not less good than electric cars manufactured by Tesla. "I have told Tesla that don't sell electric cars in India which your company has manufactured in China.
