Editorial

Editorial

GST, not a shining example yet

Independent India’s biggest tax reform — GST — is turning one, triggering reviews about the on-ground impacts in all sectors. One of those few segments that wholeheartedly welcomed GST was the organised jewellery. But, one year down the line, it is more misses than hits in its return gift hamper.

The HR mantra: Learn or leave

Human resources are the most valuable assets in any industry and more so in the service industry where the success of the organisation is almost solely dependent on the performance of human resources. From time immemorial, HRD specialists and senior management have been laying out various criteria for evaluation of managers and staff members particularly in ‘knowledge-based industries’ like IT (software & services), marketing & advertising, telecom services, finance, asset management, insurance and banking and many more. 

Russia tightens grip on Europe’s gas

Russia’s natural gas export monopoly is set to expand its position as the dominant fuel supplier to Europe after a deal between the two resolved a seven-year-old anti-trust dispute.

The agreement between Gazprom PJSC and the European Commission gives gas buyers more flexibility in handling imports and greater leverage to push for lower prices. That’s likely to make flows from Russia more attractive than alternatives such as expensive new links to fields at Europe’s southeast corner or tanker shipments of liquefied natural gas.

Roadmap for opposition

Is United Opposition a chimera or a possible reality? And what can be its strategy and roadmap before the mother of all elections can come?

Clickbait the success

We all know how globaliation has contributed towards creation of wealth, improving standards of living, allowed consumption of greater variety of goods, created employment and promoted convergence of income across economies. Though the initial beneficiaries definitely had been the larger corporations but the time has now come to shift the focus towards SMEs, the largest segment of economy for the majority of the nations.

Be on top of e-commerce

E-commerce has thrown open opportunities for retailers and wholesalers like never before, enabling them to facilitate 24x7 direct online selling for both B2B and B2C operations. With such ease of selling through online channels, consumers have smoother access to niche products that they wouldn’t otherwise find in brick-and-mortar stores or products that are not available in their local regions. Businesses can serve a much larger audience when they are present online, as distributors can sell their goods directly by avoiding retail costs and maximise their potential revenues.

Disequilibrium: Prisoner of the voter

Driven by her European sensibilities, UPA chairperson Sonia Gandhi created a welfare economics model which while fiscally flawed cannot be begrudged for it tried an all inclusive approach to target the last man standing. Dole economics was predicated on serving the poor and the underprivileged and the centrifuge driving it was MGNREGA, an employment guarantee scheme for the destitute and downtrodden in distant parts of this great land. A string of pearls stratagem was built around this flagship scheme to alleviate the woes of the poor.

Walking with the Lord to eternity

It was that time of the year again last weekend, when tens of thousands of warkaris (pilgrims) entered Pune on foot moving the faithful one step closer to heaven. Men, women and children from villages around Maharashtra and neighbouring Karnataka and Madhya Pradesh were on their 17-day annual pilgrimage to the holy shrine of Lord Vitthal in the temple town of Pandarpur in western Maharashtra. With their unshakable faith, the simple village pilgrims were accompanying the two holy ‘palkhis’ (palanquin processions) of Sant Tukaram and Sant Dnyaneshwar.

The taxing poem

Tax incidence on a taxpayer in India is determined on the basis of its residential status. Global income of the taxpayer is taxed in India if its status is ascertained as resident as per the Indian Income Tax Act. Prior to the 2015 amendment, a foreign company was said to be resident in India, if the control and management of its affairs is situated wholly in India, which resulted in shift of profits by incorporating shell companies outside India that were largely controlled from India.

Falling Fortunes

Rupee breached an important mark of 69, which, coincidently, was its all-time low, on June 28’s trading session. The previous all-time intraday low for the rupee was 68.8 against US dollar which was hit on November 24, 2016. On YTD basis, Indian rupee has depreciated by around 8 per cent.

Several factors were at play such as rising crude oil prices, global uncertainties, outflows from Indian equity and debt markets, widening in India’s trade deficit on account of jump in oil imports to $0.4 billion in April’18; up 41.45 per cent from April’2017.

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