India has overtaken the US to become Facebook’s largest country audience with a total 241 million active users, compared to 240 million in the US. The change at the top of the platform’s country rankings comes just a few days after Facebook announced it has more than two billion monthly users around the world, a report in The Next Web on Thursday said. The portal was quoting figures that the […]

It is a day of high drama on Dalal Street. The day when Sensex hit a new high, trading was halted by NSE for 3 hours due to a technical glitch. Traders complained about quotes not getting through almost minutes after the Sensex hit a high in opening trade. Finally, regular F&O and cash market trade resumed well past noon. What was particularly striking was the mayhem and chaos in […]

A poor farmer’s son who had to live in an orphanage has become one of the most successful farmers in the drought-prone Vidarbha region and wants others to follow his footsteps and end farmer suicides. Savi Thangavel, 68, can be seen attending to farmers from all over Vidarbha, foreign delegates, ministers and even bollywood actors on his farm, which is just 25 km from Nagpur in Mahegaon village. What is […]

Electronic payments have become safer for consumers with the Reserve Bank of India (RBI) introducing the concept of ‘zero liability’ and ‘limited liability’ for bank customers for any card or online fraud. The central bank has also made it mandatory for banks to register all customers for text message alerts and permit reporting of unauthorized transactions through a reply to the alert message. The proposal to limit customer liability in […]

The GST is no longer a matter of deliberation. One of the biggest economic measures in the history of the country is now a reality for all. Well as we grapple with this bittersweet experience, the question is how does it impact our economy over the longer term? The buzz around corporate circles will tell you that the digitisation of our economy at large is perhaps one of the biggest […]

The government does not intend to use the “hammer” immediately to pull down prices, leaving it to market forces to guide companies to pass on the benefits of goods and services tax (GST) to consumers. “Competition will force them to fall in line. You don’t have to use the hammer immediately,” a high-ranking officer told TOI, adding that companies and small businesses were themselves passing on the gains with consumers. […]

Global commerce has been changing since the late 20th century. Rather than trade finished products, such as cars, countries now exchange parts and components that, together, produce a finished commodity. Facilitated by lower transportation and communication costs, the inputs of production can be sourced from the most economical place. Every country that participates in world trade today has its place in this global value chain. For emerging nations, engaging in […]

The historic GST or goods and services tax has become a reality. The new tax system was launched at a function in Central Hall of Parliament on Friday midnight. GST, which embodies the principle of “one nation, one tax, one market” is aimed at unifying the country’s $2 trillion economy and 1.3 billion people into a common market. Under GST, goods and services fall under five tax categories: 0 per […]

India launched its ambitious pan-India indirect tax regime, the Goods and Services Tax (GST) at the stroke of midnight hour to bind the country into a regime of “one nation, one tax, one market”. President Pranab Mukherjee and Prime Minister Narendra Modi pressed the button to launch the new indirect tax regime on a digital screen with “GST” emblazoned on it in a golden hue to mark the entry of […]

  High profile meetings of world leaders are normally characterised with photo ops, exchange of antiques and mundane statements that are more generic in nature and less specific on the issues at the moment. Major bilateral decisions — economic or diplomatic — are rarely announced on such occasions. Narendra Modi-Donald Trump meet was not very different. Both patted each other on the back like ‘true friends’ and said goodbye in […]