Tax cuts

India with its huge population is an attractive destination for automobile industry and became the fourth largest auto market in 2018. The automotive industry (vehicles & components) contributes approximately 7 percent to country’s GDP, employs millions of people. However, recently it has been seen that the India’s automobile sector is reeling under immense pressure with the cumulative domestic sales falling month-after month starting from September 2018 onwards. The woes of Indian automobile industry started with demonetization, fuelled by BS-IV vehicles discontinuation and aggravated and hit badly by COVID-19 pandemic. In such testing times, there is an imperative need to take certain prudent steps to relax the tax system of the auto industry to ensure the overall financial wellness of the ecosystem; and have illustrated below a few factors contributing to slow growth of the automobile industry and suggestive steps:Remission should not be linked only to the tax costs … [Read more...] about Opinion: Need of the hour is to bring Indirect tax reforms for the ailing auto industry

“The Juve title can’t get away,” he said. “I believe that the Scudetto no longer had history but for us it was a prestigious race and a way to test ourselves for the Champions League quarter-finals where we want to make a good impression.” … [Read more...] about How to avoid handballs? Cut off players’ arms, says Gasperini

At 9,000 crore, the capex target is about 12 per cent lower compared to the company's Rs 10,200-crore spend during 2019-20.In the company's annual report, JSW Steel CMD Sajjan Jindal said the company has undertaken a detailed exercise to prioritise all planned and discretionary spends.The objective is to conserve liquidity, ensure that strategic projects which are in advanced stages of completion are commissioned on priority basis, he said.Due to the lockdown and its subsequent extensions, project activity at various sites were severely constrained by the non-availability of required manpower and material. The company has thus reduced planned capex on all projects. Its total planned capex for 2020-21 stands at about Rs 9,000 crore, Jindal said in the report.The economic impact caused by pandemic has not only affected the new fiscal year's production target of the company but has also led to uncertainty in terms of availability of manpower, expertise to continue capacity expansion … [Read more...] about JSW Steel cuts capex plans by 45% to Rs 9,000 crore for FY21

In January it also emerged Curious Planet – the educational retailer previously known as Australian Geographic, which is owned by parent company Co-op Bookshop – would pull 63 stores across Australia after failing to find a buyer for the brand, while denim chain Jeanswest entered voluntary administration that month and tech giant Bose also revealed it would close all Australian stores and 119 across the globe largely as a result of the rise of online shopping. … [Read more...] about The Reject Shop stocks could be worth $3 billion soon

By Blaise Fernandes India’s strategic digital pushback against Chinese investments and apps has encouraged like-minded countries like the US, and some in Europe, to follow suit. Now it’s time to lasso the biggest Chinese domination tool – 5G, the umbrella under which apps, investments and soon governments could operate.This new technology from China should not be looked at in isolation, as simply the purchase of telecom technology equipment, and part of India-China trade. It should be viewed in conjunction with China’s four heavens: BRI, the ambitious Digital Silk Route plan, Made in China 2025 and Chinese Standards 2035. Using its formidable AI base, 5G is the mother lode that enables the efficient gathering of global data from around the world, which will give cost efficiency to products listed in China 2025 and help China set global standards.What’s now perceived by global manufacturers as standards “in China for China” will eventually be … [Read more...] about Opinion: At all costs, bar Chinese 5G entry into Indian telecom. Else, live under Beijing’s domination