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Photo: Reuters
Photo: Reuters

Sluggish vaccine rollout threatens global recovery

International agencies predicted global growth to stage a recovery in 2021, on the assumption that vaccination drives around the globe will wipe out the virus. However, immunization hasn’t begun in most parts of the world, and where it has, it’s been painfully slow. Mint explores.

As in India, TDS is used widely as a tax collection tool by almost all governments across the world for the very same reason, under nomenclature such as ‘withholding tax’ or ‘pay as you earn or go’.  (iStockphoto)
As in India, TDS is used widely as a tax collection tool by almost all governments across the world for the very same reason, under nomenclature such as ‘withholding tax’ or ‘pay as you earn or go’. (iStockphoto)

Making TDS more relevant in the post-covid world

The government’s spending programmes are heavily dependent on tax collection, which makes timely collection of taxes vital

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As every year, there is an expectation of removal of LTCG tax on equity and tax on dividend income which could boost the capital markets.  (REUTERS)
In the wake of covid-19, the ILO estimates that 400 million workers in India are at risk of falling into poverty. (Photo: Getty)
In the wake of covid-19, the ILO estimates that 400 million workers in India are at risk of falling into poverty. (Photo: Getty)

How India has become an unequal republic

  • Inequality based on class, rural-urban metrics and religion has risen. The pandemic will only make things worse
  • The elites who benefited thanks to the public sector, IITs, IIMs in the era of economic planning are the same class of people who benefited the most post the 1990s pro-business reforms

The regulator has directed all life insurance companies to mandatorily offer a Saral Pension product by 1 April
ILO underlined that while 255 million jobs were lost worldwide in 2020, the share of South Asia was 80 million.

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SBI has formed a committee to ensure a smooth transition from Libor to alternative reference rates.pradeep gaur
SBI has formed a committee to ensure a smooth transition from Libor to alternative reference rates.pradeep gaur

Lenders test transactions on Libor successor SOFR

Large Indian banks are testing the waters with dollar transactions on the secured overnight financing rate (SOFR), joining global peers in preparing for the transition from the London interbank offered rate (Libor) as the controversial rate will cease to exist by the end of this year

I am 26 year old and am paying LIC premium of  ₹28,000 per annum. I am also contributing  ₹50,000 towards my PPF account. (Photo: istock)
I am 26 year old and am paying LIC premium of 28,000 per annum. I am also contributing 50,000 towards my PPF account. (Photo: istock)

How to maximise my income tax savings?

It seems you are not fully exhausting the limit of 1.50 lakh under Section 80C.

The first draft of the foreign trade policy is likely to be ready by 15 February.
The first draft of the foreign trade policy is likely to be ready by 15 February.

Foreign trade policy to focus on districts

The policy aims to provide assistance to exporters through doorstep delivery of timely and relevant information, promote artisans, farmers, handicrafts, handloom and other cottage industries

Mumbai local train services were suspended in March to curb the spread of COVID-19 (AFP)
The finance minister has indicated that spending would not be curtailed to narrow the deficit. But markets have their comfort levels, and the government may need to manage not just its own purse but also market expectations. (HT)
The finance minister has indicated that spending would not be curtailed to narrow the deficit. But markets have their comfort levels, and the government may need to manage not just its own purse but also market expectations. (HT)

Markets await macro signals

Fiscal deficit targets have been relegated to the back burner, but India hasn’t made a big splash with spending, given its fiscal constraints

The reform measure will be rolled out in a staggered manner from the 2021-22 academic year. (Photo: HT)
There are many types of equity related products available in the market, but they aren’t all the same. Photo: iStock
Picture for repesentation. A heritage tour vessel carrying tourists through the Hooghly river is covered under smog in Kolkata, (AP)
Picture for repesentation. A heritage tour vessel carrying tourists through the Hooghly river is covered under smog in Kolkata, (AP)

In a first, Kolkata gets boat library. Trip, ticket price and other details

  • The idea behind the boat library is that one can read some good collection of books while appreciating the beauty of Kolkata, cruising on the Hooghly
  • A ride on the boat would cost 100 for adults and 50 for children

FILE PHOTO: Shares are considered as “movable property” for the purposes of the Income Tax Act, 1961, and it is not mandatory to execute a gift deed for this purpose (REUTERS)
US President Joe Biden. (Bloomberg)
The game has ‘Tales from Galwan Valley’ as the main story in single-player mode.
Prices of major commodities such as crude oil surged in Q3.
Infosys won a record $7.1 bn in new deal wins in the December quarter.
Venezuela's President Nicolas Maduro speaks during an announcement promoting Carvativir, what Venezuela's government says is a miracle cure for coronavirus disease. (REUTERS)
Venezuela's President Nicolas Maduro speaks during an announcement promoting Carvativir, what Venezuela's government says is a miracle cure for coronavirus disease. (REUTERS)

'Ten drops under the...': Venezuela's President 'miracle' treatment for Covid-19

  • Venezuela's President Nicolás Maduro said the treatment, which he called carvativir, has been under testing for nine months among Venezuelans ill with the coronavirus
  • The new coronavirus hasn't hit Venezuela as hard as other South American countries

It otherwise appears to be the standard aluminium version of the Apple Watch Series 6, (Apple)
It otherwise appears to be the standard aluminium version of the Apple Watch Series 6, (Apple)

Apple rolls out limited-edition 'Black Unity Collection' Apple Watch

  • Apple is launching a limited-edition Apple Watch for Black History Month, with unique watch band and a new watch face
  • It otherwise appears to be the standard aluminium version of the Apple Watch Series 6, with pricing starting at USD 399

The buzz around the match will aid ad revenues.
US Vice President Kamala Harris receives her second dose of the Moderna coronavirus disease (COVID-19) vaccine. (REUTERS)
The change will ensure better corporate governance, say experts.
The change will ensure better corporate governance, say experts.

Public ltd cos to find it tougher to go pvt

Corporate affairs ministry issued a notification amending the Companies (Incorporation) Amendment Rules of 2014, withdrawing a provision that provided for deemed approval if the authorized government official did not reject the application or seek re-submission within 30 days

Union Health Minister Harsh Vardhan. (@drharshvardhan)
India’s September quarter GDP estimate at -7.5% after -23.9% in the June quarter positively surprised analysts (REUTERS)
Women and children across the world including India remained the worst affected groups during the Covid-19 pandemic (HT_PRINT)
Women and children across the world including India remained the worst affected groups during the Covid-19 pandemic (HT_PRINT)

Will Covid-19 vaccination roll-out help Indian economy heal?

  • Health economists believe that India’s vaccination program may help in economic recovery with the situation of women and children expected to improve
  • According to operational guidelines for vaccination issued by the Union health ministry, the Covid-19 vaccine is being offered first to healthcare workers

Tata Steel Ltd and JSW Steel Ltd are among India’s large steelmakers seen interested in Essar Steel India Ltd, Bhushan Steel Ltd, and Bhushan Steel and Power Ltd—three steel companies currently in bankruptcy courts. Photo: Bloomberg
Tata Steel Ltd and JSW Steel Ltd are among India’s large steelmakers seen interested in Essar Steel India Ltd, Bhushan Steel Ltd, and Bhushan Steel and Power Ltd—three steel companies currently in bankruptcy courts. Photo: Bloomberg

A level playing field for our steel players will boost infrastructure

The budget should ease their access to finance and rejig levies to help sharpen their competitiveness

The largest ETF is the iShares MSCI India ETF (INDA) with an AUM of $5.13 billion. It was set up in 2012 and has grown its AUM by almost 1,000 times since then, indicating a strong interest in India investments (Photo: iStock)
The largest ETF is the iShares MSCI India ETF (INDA) with an AUM of $5.13 billion. It was set up in 2012 and has grown its AUM by almost 1,000 times since then, indicating a strong interest in India investments (Photo: iStock)

ETF investors from US bet big on India

  • Enquiries from NRIs living in the US looking to invest in India are growing by almost 15-20% month-on-month
  • According to ETF Database, there are 12 India-focused ETFs listed in the US with an AUM of $7.26 billion as of 26 January

Safari is based on the D8 platform from Land Rover which allows for further drive train enhancements
This is the third year in a row that India has kept its number four position globally after the US, China and the UK ( Photo: iStock)
This is the third year in a row that India has kept its number four position globally after the US, China and the UK ( Photo: iStock)

Indian startups attract $10.14 bn in funding in 2020: Report

Weathering negative sentiment, seed stage investment deals grew by 50% from $353 million over 420 deals in 2019 to $372 million over 672 deals in 2020, the report said

File Photo: Kristalina Georgieva, IMF Managing Director (AP)
In December, the group’s container terminal business raised $300 million through an overseas bond issuance. (REUTERS)
In December, the group’s container terminal business raised $300 million through an overseas bond issuance. (REUTERS)

Adani Ports to raise $500 mn via bonds

Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced a $500 million bond sale, its second such offering in the last few months, as the Adani group flagship seeks to capitalize on benign interest rates overseas

The company is amongst the leading wires and cables manufacturers in India and is also growing its range in FMEG
The logo of Sanofi is seen at the company's headquarters in Paris (REUTERS)
Finance Minister Nirmala Sitharaman will present the Union Budget on 1 February 2021.  (PTI)
Finance Minister Nirmala Sitharaman will present the Union Budget on 1 February 2021. (PTI)

Budget 2021: Expecting big income tax relief this year? 'Very unlikely'

  • 'The salaried class could be disappointed if it’s expecting for reduction in tax rates,' said Divakar Vijayasarathy, founder & managing partner, DVS Advisors LLP
  • To push growth and the economy ahead, the centre is likely to bring some revenue-raising policies this year

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