According to the survey by Deloitte India and National Human Resource Development, 35 per cent of Indian businesses are expecting a strong growth this year while another 45 per cent feel that it would be moderate.
The footprints of Indian-origin corporate executives at multinationals is expanding, with Sandeep Kataria taking over the reins of footwear major Bata as its global chief executive officer. From FMCG majors to IT titans, Kataria joins the league of Indian-origin executives who have climbed the highest echelons of corporate across diverse sectors globally. From Nooyi to Pichai to Nadella, the list of such people at the helm of multi-billion dollar enterprises is long.
The new definition under the Code of Wages, 2019, includes three components: basic pay, dearness allowance and retention payment.
India needs about 19 million low-cost homes -- roughly defined as costing a million rupees ($16,700) and below -- to shelter an urban population expected to nearly double to 600 million by 2030 from 2011.
After contracting for two quarters in a row, the Indian economy entered the positive territory with a growth of 0.4 per cent in the October-December quarter, mainly due to good performance by farm, services and construction sectors, official data showed on Friday. Trade and hotel industry registered a contraction of 7.7 per cent during the third quarter this fiscal, as the sectors continued to suffer on account of coronavirus pandemic. According to the data released by the National Statistical Office (NSO), the farm sector recorded a growth of 3.9 per cent, and the manufacturing sector output grew by 1.6 per cent in the quarter under review.
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.
'We know that returning money to unitholders at the earliest is the first and most important step towards resurrecting our brand and regaining investor trust.'
The Indian manufacturing sector has registered gross profits and sales growth rates amounting to double the figures of global manufacturers, according to a Global Benchmark Study by Deloitte.
Spain's Real Madrid retained the title of the world's richest football club in the past year thanks to sponsorship and TV deals robust enough to endure a season without a major trophy, a study showed on Thursday.
The market buzz is that the GoAir promoters are hoping for a valuation that is at least a little more than double its closest rival SpiceJet.
The government of Gujarat has been projecting its industrial growth as a model for other states but it does not appear so industry-friendly in the number of labour laws one needs to comply with, shows a survey.
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
Sitharaman further said that to mitigate genuine difficulties of start-ups and their investors, government has decided to withdraw angel tax provisions for them.
Nearly $120 bn will come from private sector
India's tax pie seems to have undergone a subtle change with a sharp drop in direct tax collections resulting from a disproportionate impact of the COVID-19 carnage on incomes. The share of indirect taxes, which mainly comprise of levy on goods and services as well as import duty, has risen while that of direct taxes - made up of corporate and personal income tax - has gone down in 2020. In an interview with PTI, finance secretary Ajay Bhushan Pandey said in a pandemic like this where the economy has been impacted, any large scale changes impact direct taxes more severely, whereas indirect tax collection is mostly proportional to business turnover and compliance.
With India's GDP clocking a lower contraction of 7.5 per cent in the September quarter, industry and experts expressed confidence of further recovery in the coming months and said the government's actions are bearing fruit. In a tweet, Vedanta chairman Anil Agarwal said, "Q2 #GDP numbers show that economy is recovering. Government's efforts on stimulus and reform are showing results. Hopefully, we will have positive growth in H2 FY21 and double digit growth in FY22."
India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand. The gross domestic product (GDP) had contracted by a record 23.9 per cent in the first quarter of the 2020-21 fiscal (April 2020 to March 2021) as the coronavirus lockdown pummelled economic activity.
The new restriction will be challenging for businesses, as they will have to do regular follow-ups with their suppliers.
If the policy is extended to NBFCs and co-operative banks, they will have to disclose divergence in asset classification and provisioning during RBI inspections in their audited financial reports. Till now, these entities have been exempted from this. At present, there are more than 98,000 co-operative banks and 10,000 NBFCs. Sources said the RBI would concentrate on the top 50 co-operative banks and NBFCs.
According to the report by WEF and Deloitte Touche Tohmatsu, the manufacturing sector not only adds value to the overall economic growth but also helps in creating more jobs than any other sector.
The average variable pay across sectors is projected at 17.4%.
While experts pointed out the impact of corporation tax cuts cannot yet figure in collections as most companies are yet to decide on their choice, government officials said a part reason for slow collection is the tax cut.
Punjab National Bank is planning to open a subsidiary in the United Kingdom in a bid to make its presence felt in the international arena.
They, however, remain cautious in resuming aggressive capital spending.
The Disciple is an ode to music and a salute to Mumbai. The city can be harsh, but it also lets the voices of struggling classical musicians exist, although often they live on the edge of society, observes Aseem Chhabra.
Internet giant Google is the most attractive employer for graduates from the Asia-Pacific region in a list of top companies which figures no Indian firm.
"The Corporation has decided to offer a voluntary retirement scheme, with a view to enable employees who are not in a position to continue in service of the Corporation due to various personal reasons, to request for grant of voluntary retirement from the services of the Corporation," Bharat Petroleum Corp Ltd (BPCL) said in an internal notice to its employees.
This number is more than the total number (1,071) of electric cars sold in India in calendar year 2019. MG has stopped registrations for the ZS and will cater to 2,409 of the total bookings.
Diverse marquee investors are becoming long-term shareholders of Jio Platforms because of a unique set of technologies and platforms under one entity.
This is what makes the World Economic Forum's annual summit special.
English football clubs splurged on the final day of the transfer window, laying out 210 million pounds to take total gross spending to a record-high 1.4 billion pounds as the Premier League again flexed its unrivalled financial muscles.
A common feature in India is the lag between the occurrence of frauds and the time they are actually reported.
Allotments that were done without conducting due diligence should be reversed but the UPA's procedure smacks of favouritism.
India ranks 4th in the 2013 global manufacturing competitiveness index even as the country's growth rate has been pulled down in recent quarters.
The sale is key to meeting the government's disinvestment target of Rs 2.1 trillion in the financial year 2020-21. So far, the disinvestment exercise has fetched the government Rs 34,845 crore during the current financial year.
Since Real Madrid last played Manchester United, getting a 6-5 aggregate win in the 2002-03 Champions League quarter-finals, the Spanish side have given their English rivals a thorough drubbing in the financial arena.
In just two years, Bank Bazaar.com was chosen as one of the 'Hottest Startups' in India.
To improve compliance, govt may introduce lottery reward for filing GST. The Consumer Welfare Fund, where anti-profiteering proceeds are deposited, will be used to reward the lucky winners on monthly and annual bases. The prize money, yet to be fixed, may run into several lakhs of rupees for the annual draw, and about Rs 50,000 for monthly draws.
Despite the presence of renowned economists and entrepreneurs, it was Kiran Bedi, a retired police officer-turned activist, who stole the show at the Eighth Annual Indian Business Conference at the Columbia University last week. Suman Mozumder reports
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