Modi, mines, viprit buddhi

Yes, India needs desperate measures to kick-start growth. But selling off its lungs to the highest bidder to hack away cannot be the way out, says Sumit Bhattacharya. Prime Minister Narendra Modi’s announcement of the auction of 41 coal blocks in some of India’s most pristine green belts and areas already wracked by mining is […]

Why you must pay advance tax by June 30

‘If this first instalment of advance tax is paid by June 30, instead of June 15, then the interest on delayed payment will be levied at 0.75% per month instead of 1% per month,’ notes Homi Mistry, a partner with Deloitte India. The economy is facing unprecedented disruption and uncertainty due to the COVID-19 pandemic. […]

As lockdown eases, hotels ready with new 5-star drill

As several premium hotels such as ITC, Taj and Oberoi reopen after the lockdown in cities such as Bengaluru, Kolkata and Hyderabad, many changes have been made for the safety of guests and staff including temporary closure of spas, bars, gyms, and swimming pools. UV room to sanitize cutlery and crockery, immunity drink and meals […]

Huge scam in YES Bank for many years, say ED

Proceeds of the crime had been siphoned off and laundered or concealed, or layered and integrated into the main financial system through the acquisition of properties. His wife Bindu Kapoor has been charged with being aware of the source of monies that were being routed through these companies. YES Bank former managing director (MD) and […]

Coronavirus spoils the show for media and entertainment business

Finding enough shows to air, creating content that gets people to pay and watch and wooing advertisers back into the fold are going to be the biggest challenges the M&E industry faces. While the global pandemic has changed the nature of businesses all around, it has shaken up the already rocky world of media and […]

For many, this is not a lockdown, but a knockout

‘The economic impact of this lockdown is evidently huge.’‘Its impact on the livelihood of vulnerable sections of the society is immeasurably bigger,’ observes Mahesh Vyas. In the week ended April 12, 2020, the unemployment rate rose to 24 per cent. This estimate is based on 10,355 responses during the week. In the last week of […]

Travel, hospitality industries stare at Rs 5-trn revenue loss

Besides urging the Centre for extension of loan moratorium, the hotel and travel industries have also demanded deferment of GST and advance tax payments and waiver of fees for all forthcoming licences and permits. Battered and bruised by the COVID-19 pandemic, the country’s travel and hospitality industry is staring at a Rs 5-trillion revenue loss […]

IMF picks Raghuram Rajan in coronavirus advisory group

Rajan, 57, who was RBI governor for three years until September 2016, is currently working as a professor at the prestigious University of Chicago. IMF MD Kristalina Georgieva on Friday named former RBI governor Raghuram Rajan and 11 others to her external advisory group to provide perspectives from around the globe on key developments and […]

Covid air pocket leaves flyers with forced vouchers

International and Indian airlines are refusing to refund cash and giving credit that can be used later. Visiting California was on Amrita’s mind since she got her first job in mid-2019. She saved and planned a Vegas trip. But with the coronavirus pandemic forcing India to cancel international flights, the Rs 42,500 she spent on […]

Revenues of IT companies may take a big hit in FY21

Though a weak dollar will lend some support to revenues and margins in FY21, the demand environment will outweigh any gain. Revenues of information technology (IT) services firms are likely to a take a big hit in financial year 2020-21 (FY21) as the coronavirus disease (Covid-19) is expected to pull down clients’ spend significantly. According […]