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:
"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.
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
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.
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.
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
Copyright©2021 Living Media India Limited. For reprint rights: Syndications Today