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Everyone reads Business News. But what's the story behind the news? In Business Tit-Bits, our Business Editor Mr Akhilesh Bhragava analyzes important happenings from the Business World. For, In-depth understanding of Business and Finance developments, listen to Business Tit-Bits.
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Finance Minister Nirmala Sitharaman in Union Budget 2023 has announced attractive incentives and rebates in the new income tax regime, a steep hike in capital investments and the biggest ever outlay in railways. The rebate limit in the new tax regime is increased from Rs 5 lakh to 7 lakh and there is a corresponding easing of the tax slabs. The new tax regime is the default. Sitharaman has proposed an increase in capex by 33 per cent to Rs 10 lakh crore. States are also being incentivised to spend more on infra. Rs 2.40 lakh crore has been allocated for Indian Railways, which is the highest ever. In this episode of the BUsiness Tit-Bits, our Business Editor Mr Akhilesh Bhargava shares his take on the matter.
Car workshop and auto spare parts platform, GoMechanic is going to let go of approximately 70% of its workforce. This was announced by co-founder Amit Bhasin in a long LinkedIn post. GoMechanic, which offers everything from mechanics to carwashing services on an app, bills itself as having India’s largest auto service center network. With its funding round in jeopardy, the startup is now facing a cash crunch, the people said.
Business Tit Bits: The Economy and The Budget | Nirmala Sitharaman | BJP | Delhi |
Finance Minister Nirmala Sitharaman said the central government will continue to work for the middle class, as she gears up to announce the Union Budget 2023 in less than three weeks. Sitharaman said she belongs to a middle class family and understands the pressures they face, adding that the BJP-led NDA government has not imposed any new tax on the middle class in any budget so far
"Sebi on 22 October has barred 10 entities, including Bombay Dyeing & Manufacturing Company Ltd and its promoters -- Nusli N Wadia, Ness Wadia and Jehangir Wadia -- from the securities markets for up to two years.
Business Tit Bits: Consumer Spending Matters The Most
As Rishi Sunak takes over the reins in Great Britain several issues have cropped up needing his decision as the country’s leader. In this episode of the Business Tit Bits, Our Business Editor Mr Akhilesh Bhargava shares his take on the matter.
Diwali is just not a religious or cultural festival; it has a huge impact on our economy as well. We all have our buying list for Diwali sales. The festive season falls in the mid of the Financial year (April to March). The season itself not only gives a hint about the current economic condition but also impacts the sentiment of the market for the rest of the financial year. Business worth more than 25,000 crores has happened in Delhi alone. Still, there are 10 days left in the festival season, so the retail business can surpass the 1.5 lakh crores mark this year. In this episode of the Business Tit-Bits, our Business Editor Mr Akhilesh Bhargava shares his take on the matter.
"The Indian central bank likely sold dollars via state-run banks on Thursday after worries over surging U.S. Treasury yields pushed the local currency to a record low, traders told Reuters. In this episode of the Business Tit-Bits, our Business Editor Mr Akhilesh Bhargava shares his take on the matter.
"Dollar is strengthening incessantly. So obviously, all other currencies are performing against the strengthening dollar.," said FM Nirmala Sitharaman. In this episode of the Business Tit-Bits our Business editor Mr Akhilesh Bhargava share his take on the matter.
Market regulator Securities and Exchange Board of India (SEBI) and banking regulator Reserve Bank of India (RBI) on Wednesday separately issued standard operating procedure for inter-operable regulatory sandbox in a bid to facilitate testing of innovative products falling within the regulatory ambit of more than one financial sector regulators. Financial products or service providers whose business models fall within the remit of more than one financial sector regulator such as RBI, SEBI, IRDAI (Insurance Regulatory and Development Authority of India), PFRDA (Pension Fund Regulatory & Development Authority) and IFSCA (International Financial Services Centres Authority) will be considered for the testing under Inter-operable Regulatory Sandbox (IoRS). In this episode of the Business Tit bits, our Business Editor Mr Akhilesh Bhargava shares his take.
TAKEOFF vs LANDING| BUSINESS TIT BITS|
The nine-day Navratri festival, which concluded with Dussehra on Wednesday, has brought unexpected riches to retailers of consumer-facing firms despite persistently high inflation and rate increases by the Reserve Bank of India. In this episode of the Business Tit-Bits our Business Editor Mr Akhilesh Bhargava shares his take on the matter.
Four successive repo rate hikes by the Reserve Bank of India (RBI) have pushed up interest rates on home loans to the pre-pandemic levels of June 2019. Now, with interest rates at a three-year high of 8.1-9 per cent across categories, housing loans may be staring at a slowdown, after witnessing a 16.4 per cent rise in outstanding during the 12-month period ended August 2022. This has come on top of a 11.6 per cent growth in the year-ago period. In this episode of the Business Tit-Bits, our Business Editor Mr Akhilesh Bharga shares his take.
India and Saudi Arabia are expected to formulate a plan of action for strengthening bilateral cooperation in different areas and projects, including the west coast refinery project, an official statement said on Saturday.
India’s jobless growth is a concern and there is a need to boost manufacturing to create employment on a mass scale and take advantage of the global factors. The government is creating jobs, but in the private sector it’s only happening in the lower end of the gig economy, according to Mahindra Group chairman Anand Mahindra. In this episode of the Business Tit-Bits, our Business Editor Mr Akhilesh Bhargava shares his take on the matter.
The International Monetary Fund (IMF) on Tuesday slashed India's economic outlook for financial year 2022-23 to 7.4%. The outlook has been revised down by 0.8 percentage point. The forecast is sharply lower than IMF's previous estimate of 8.2% for FY23. However, it is marginally higher than Reserve Bank of India's (RBI) latest estimate of 7.2% growth rate for FY23. In this episode of the Business Tit-Bits, our Business Editor Mr Akhilesh Bhargava shares his take on the matter.
The Biden administration must be alarmed by the recent decisions by several foreign corporations to either pull out of the Indian market or put their long-term plans on hold. The U.S. has, for years, hoped to assist India’s rise as a way of checking China’s growing power. But even though India is the world’s fastest growing major economy, its economic policies continue to disappoint American, European and Japanese officials and investors. In this episode of the Business Tit-Bits, our Business Editor Mr AKhilesh Bhargava shares his take on the matter.
"At present Currencies around the world were being pushed down by the dollar as countries sought to combat inflation by raising interest rates at the risk of entering a recession. Major global currencies such as the Euro, Pound, Yen, Australian Dollar, Swiss Franc, and New Zealand Dollar have fallen between 8 and 17 percent this year, according to Trading Economics data. In this episode of the Business Tit-Bits, our Business Editor Mr Akhilesh Bhargava shares his take on the matter.
Amid a funding crunch globally, frugality and unit economics have become the buzz words among startups as they focus more on profitability and curtailing costs. Investors, founders and recruiters we spoke to said there will be a cost-cutting drive across startups amid increased investor scrutiny of money-guzzling business models. Marketing budgets are getting slashed, layoffs are becoming commonplace, founders and top management are taking pay cuts, and perquisites — that include free food at the workplace — are being taken away, at least at some startups for the time being.
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