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Biz EOD: Uday Kotak on India's GDP; Airtel posts Rs 1,035 cr loss in Q3; experts not satisfied with NRI tax

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twitter-logoBusinessToday.In | February 4, 2020 | Updated 22:57 IST
Biz EOD: Uday Kotak on India's GDP; Airtel posts Rs 1,035 cr loss in Q3; experts not satisfied with NRI tax
Top stories from the world of business and economy.

In an interview with Business Today, UdayKotak, MD & CEO, Kotak Mahindra Bank talks about the structural changesthat are taking place in the global economy, challenges in sectors such as realestate and financial services, clean-up drive in the system and the economicoutlook, going forward. Bharti Airtel Limited's consolidated net loss for theDecember quarter stood at Rs 1,035 crore after exceptional items, which is incontrast with Rs 86 crore profit reported in December 2018. The government'sclarification on the budget provision related to non-resident Indian (NRI) taxdoes not seem to have soothed frayed nerves of many non-residents. Read for more top stories from the world of business and economy:

1. India's GDP is pretty low; V-shaped turnaround unlikely: Uday Kotak

"Reduction of corporate tax rate is a first supply side move to get private investment back; for many years, India was disproportionally dependent on consumption driving economic growth and not investment. On demand side, we need to get more confidence," says Kotak.

2. Bharti Airtel posts net loss of Rs 1,035 crore in December quarter

Airtel says in wake of the SC judgement on AGR, telco provisioned an amount of Rs 34,260 crore, of which Rs 28,450 crore was recorded in previous quarter as an exceptional item

3. Union Budget 2020: Tax experts not satisfied with govt's clarification on NRI tax

Budget 2020 taxes: The government clarification on the new provision related to NRI tax does not seem to clear any doubts of several NRIs and tax experts. Here's a lowdown on what the NRI tax exactly means.

4. Budget 2020: Not all can switch back to old system once moved to new tax regime

The individual taxpayers are free to choose between the old tax regime and the new tax regime. However, not every taxpayer will find it easy to make this switch.

5. India may issue $5 billion of bonds with no foreign investment cap next year

Modi government is likely to issue the bonds in several tranches of at least $400 million each; an inclusion in global indices would open India's bond market to more investors and potentially reduce the government's borrowing costs

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