Indian Economy News & Discussion - Nov 27 2017

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vijayk
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

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Is Amazon loosing steam in India or it is getting mired in the politics of its CEO?
vijayk
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

https://twitter.com/Ravisutanjani/statu ... 4901270530
Ravisutanjani @Ravisutanjani


ONDC seem Biggest Threat for Swiggy/Zomato
Price of McDonald’s Burger

• Swiggy/Zomato - ₹282.5
• ONDC - ₹109.4

Over 60% Savings for Users

This is UPI Moment for India’s E-Commerc
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vijayk
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

https://twitter.com/ravikarkara/status/ ... 0519872514

Composite PMI rises in February; services activity expands at fastest rate in 12 years.

The S&P Global Composite Purchasing Managers' Index (PMI) increased to a four-month high of 57.2 in April 2023 from 56.4 in the previous month.

The Purchasing Managers' Index (PMI) is an index of the prevailing direction of economic trends in the manufacturing and service sectors. It consists of a diffusion index that summarizes whether market conditions, as viewed by purchasing managers, are expanding, staying the same, or contracting

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chetak
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

Modi govt brings CA, CS, CWAs & accountants carrying financial transactions and managing black money of clients under PMLA.

So if found guilty, they'll be dealt under PMLA now. That's officially game over for ICAI & ICSI cartel

BTW, wasn't KPMG a common Auditor for recent bank collapses in the US.

Chartered accountants now under ambit of money laundering law

https://indianexpress.com/article/busin ... w-8590871/
Cyrano
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Cyrano »

Pratyush wrote:Don't worry about startups failing.

Over 90% of the startups fail in the first year.

I used to worry about a lack of startups in India.

We need thousands of these. So that enough survive to build a strong eco system.
I think this will be a wrong approach for India and a case of blindly aping the west/US. Such high rates of failure which come after astronomical valuations are made possible in the US since the Fed has been printing money out of its musharraff and pumping it into the financial system with low interest rates. Cost of capital becoming frivolous will only encourage irresponsible conduct and seamsters. There will be a few genuine innovators who will succeed but 90% failure rate is ridiculous and a rotten stinky bubble that will burst when interest rates go up, its not a virtue.

India's capital investment capacity and cost of capital is very different and we cannot afford such a model.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by sanman »

JTull
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by JTull »

Cyrano wrote:
Pratyush wrote:Don't worry about startups failing.

Over 90% of the startups fail in the first year.

I used to worry about a lack of startups in India.

We need thousands of these. So that enough survive to build a strong eco system.
I think this will be a wrong approach for India and a case of blindly aping the west/US. Such high rates of failure which come after astronomical valuations are made possible in the US since the Fed has been printing money out of its musharraff and pumping it into the financial system with low interest rates. Cost of capital becoming frivolous will only encourage irresponsible conduct and seamsters. There will be a few genuine innovators who will succeed but 90% failure rate is ridiculous and a rotten stinky bubble that will burst when interest rates go up, its not a virtue.

India's capital investment capacity and cost of capital is very different and we cannot afford such a model.
This is not about astronomical valuations for those that succeed but about creating an environment where other businesses are allowed to fail without any stigma. These start-ups are creating Indian solutions for India. Those taking risks have to be rewarded and not penalised for life. Only then you'll create an ecosystem that produces best-in-class and sustainable businesses. While 3 bigs (Ambani, Adani, Tata) have finger in every pie, you do not want them to start dominating every aspect of Indian economy.

You should listen to TRS podcast with Sanjeev Sanyal. Youtube Link
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by RoyG »

JTull wrote:
Cyrano wrote:
I think this will be a wrong approach for India and a case of blindly aping the west/US. Such high rates of failure which come after astronomical valuations are made possible in the US since the Fed has been printing money out of its musharraff and pumping it into the financial system with low interest rates. Cost of capital becoming frivolous will only encourage irresponsible conduct and seamsters. There will be a few genuine innovators who will succeed but 90% failure rate is ridiculous and a rotten stinky bubble that will burst when interest rates go up, its not a virtue.

India's capital investment capacity and cost of capital is very different and we cannot afford such a model.
This is not about astronomical valuations for those that succeed but about creating an environment where other businesses are allowed to fail without any stigma. These start-ups are creating Indian solutions for India. Those taking risks have to be rewarded and not penalised for life. Only then you'll create an ecosystem that produces best-in-class and sustainable businesses. While 3 bigs (Ambani, Adani, Tata) have finger in every pie, you do not want them to start dominating every aspect of Indian economy.

You should listen to TRS podcast with Sanjeev Sanyal. Youtube Link
Creating an environment of incentives. You are looking at it the right way. Big 3 love the current environment. Do enough that the start ups create ideas and build initial prototypes and then fail. They swoop in and buy them up for cheap and control the IP. They infuse the capital and then win tenders, mass produce, and make $.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by JTull »

Nothing wrong with that! Some entrepreneurs wish to carry on and some wish to exit. You wouldn't have Elon Musk doing what he's doing without his payday at PayPal.

another video! How tech and competition is forcing improved efficiency at Tata and how young entrepreneurs are buying into the big picture.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Cyrano »

I'm all for supporting startups that focus in core R&D like advanced materials, nano, computing, mfg, processes, bio tech, agri tech, electronics, power, space etc. Because established business houses in India are not sufficiently R&D focused for lots of historic reasons. My critique comes from touting gig economy, e-tailing ventures as some kind of great achievements and their billion $ valuations as proof that we have arrived. The Byjus, Swiggys and make up sellers are not totally useless, but are still sideshows. The real long term game is elsewhere.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

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Cyrano
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Cyrano »

Yes ! IR should sell Vande Bharat toy train sets. HAL should sell Tejas miniature model kits, ISRO our rocket kits. And all types of hats, t-shirts and other merchandise. When our stars and influencers start wearing these to make style statements like NASA sweatshirts etc. we'd have arrived.
Tanaji
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Tanaji »

Not sure where to put it so putting on this thread:

What is the reason that the Indian census has been delayed this time around? It was Covid in 2021, but its now 2023 and still no movement or date when it would begin?

I am aware there was some controversy on what questions to ask etc… but is that enough to delay such a major activity?
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by yensoy »

^^^^ Maybe with birth/death registration, Aadhaar and mobile SIM data the whole census exercise is not so crucial these days?
chetak
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

yensoy wrote:^^^^ Maybe with birth/death registration, Aadhaar and mobile SIM data the whole census exercise is not so crucial these days?
yensoy ji,

census is required for delimitation


https://theprint.in/india/what-is-delim ... jk/683808/

https://theprint.in/india/governance/ho ... h/1287536/
How census-based delimitation for Lok Sabha seats could shake up politics & disadvantage south

Last population-based delimitation was done in 1971 & there's a freeze until 1st census after 2026. As debate intensifies, a 2019 paper sheds light on what such an exercise could mean.
2019 paper
chetak
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

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ritesh
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by ritesh »

Cyrano wrote:Yes ! IR should sell Vande Bharat toy train sets. HAL should sell Tejas miniature model kits, ISRO our rocket kits. And all types of hats, t-shirts and other merchandise. When our stars and influencers start wearing these to make style statements like NASA sweatshirts etc. we'd have arrived.
+100 This is a business opportunity out there to be tapped. Just hope, people don't take easy route of mfg in chyna and selling here.
chetak
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

Lithium reserves traced in Rajasthan's Nagaur, capacity higher than J&K reserves
https://economictimes.indiatimes.com/in ... 068695.cms
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by JTull »

Cyrano wrote:I'm all for supporting startups that focus in core R&D like advanced materials, nano, computing, mfg, processes, bio tech, agri tech, electronics, power, space etc. Because established business houses in India are not sufficiently R&D focused for lots of historic reasons. My critique comes from touting gig economy, e-tailing ventures as some kind of great achievements and their billion $ valuations as proof that we have arrived. The Byjus, Swiggys and make up sellers are not totally useless, but are still sideshows. The real long term game is elsewhere.
You're missing the point. Indian solutions for Indian problems. And biggest one is providing the bottom 100 crore population with basic needs of water, electricity, log, housing and most importantly employment, to get them upwardly mobile and aspirational. And then get them contributing more to national production.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

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chetak
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

@surjitbhalla·1 May

We have fake news; I discuss something far more dangerous - fake commentary by respected scholars (@AshokaMody, Raghuram Rajan) on important economic outcomes and policy; this needs to be called out; https://timesofindia.indiatimes.com/ind ... 892288.cms


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yensoy
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by yensoy »

India job sob story is that there are no jobs. The reality is that there are huge number of jobs available as long as one is willing to work for it, and relocate to the place of the job (which could very well be a construction site). If you want to sit in your own village and get a government job, sorry that just isn't happening. Government jobs can't scale up and employ everybody in the country.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vimal »

chetak wrote:
Lithium reserves traced in Rajasthan's Nagaur, capacity higher than J&K reserves
https://economictimes.indiatimes.com/in ... 068695.cms
India should keep quite. Unkill has a habit of exporting democracy and freedom in resource rich nations.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by VishnuS »

vimal wrote:
India should keep quite. Unkill has a habit of exporting democracy and freedom in resource rich nations.
No Vimal Bhai! Unkill will not!!

Infact they might help us with battery tech!!

Weak India is one less ally to fight against China.

How ever things might take a turn after a decade!!
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by KL Dubey »

VishnuS wrote:
vimal wrote:
India should keep quite. Unkill has a habit of exporting democracy and freedom in resource rich nations.
No Vimal Bhai! Unkill will not!!
FYI: https://indianexpress.com/article/india ... n-8600784/
chetak
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

@ReutersAsia·3h

Indian government's e-commerce network ONDC expands into 236 cities -CEO http://reut.rs/3VTpf8S
The government launched the Open Network for Digital Commerce (ONDC) last year to give small businesses and retailers access to processes and technologies usually provided by big e-commerce platforms such as Amazon (AMZN.O) and Walmart (WMT.N).

The non-profit company's network currently displays products and services from all participating e-commerce platforms in search results across all apps on its network.

"ONDC is handholding small merchants while aiming to make e-commerce more inclusive and accessible for consumers," T. Koshy, CEO of the company told reporters.

The network is slowly and steadily recording an uptick in transactions, he said.

The government has said existing platforms are tightly controlled, keeping out many small players. It expects ONDC to increase competition and foster start-up innovation.

T. Koshy said the company was in talks with cab operators to launch operations in at least four cities, after successfully launching mobility operations in two cities in South India.

More than 55,000 taxi cab owners have already joined the network, and consumers were using it for about 35,000 rides a day, he said.

The platform has helped cab owners to provide services while saving on hefty commissions paid to other platforms and offer lower rates to passengers, said Shaikh Salauddin, head of Telengana Four Wheeler Drivers Association, and a taxi driver.

"The ONDC move has helped to promote fair competition in the e-commerce and helping consumers and small players."

ONDC aims to raise e-commerce penetration in the next two years to 25% of India's consumer purchases, from nearly 8% now, in a country of 1.4 billion people.

On Tuesday, the government said the state-run Indian postal service, which has a network of nearly 160,000 post offices, will also join the ONDC network to provide logistics services to small traders across the country.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by tandav »

yensoy wrote:India job sob story is that there are no jobs. The reality is that there are huge number of jobs available as long as one is willing to work for it, and relocate to the place of the job (which could very well be a construction site). If you want to sit in your own village and get a government job, sorry that just isn't happening. Government jobs can't scale up and employ everybody in the country.
+1 we gave offers to fresher engineers who were doing menial o&m type work at 12k per month, an upgrade to a site engineer position with more growth at 20k per month. We deployed this chap to kolkatta and he basically took a train back home same day citing some issue of dangerous neighborhood and Non availability of Veg food etc decamped with 3 days advance perdiems and allowances. We cut a very sorry figure to our clients.

Shocking lack of professionalism across the board. Some thing is fundamentally wrong, youth is not hungry for real work, they are more happy being delivery boys to the likes of swiggy, zomato, zepto et al
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by gakakkad »

^ one of the reasons people sit at home for years trying to get into IAS is because it's supposed to be a cush job with money and security,naukar chakkar etc .

Some how many Desi engineering grads don't have a passion for engineering or building stuff . They get x engineering with the end goal of a cush lifestyle and money etc. They just don't have a desire to excel at what they do .

There are societal level work ethic issues that need to be addressed . Many very fundamental issues with mindset.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by sgrover »

tandav wrote: ... an upgrade to a site engineer position with more growth at 20k per month. We deployed this chap to kolkatta and he basically took a train back home same day citing some issue of dangerous neighborhood and Non availability of Veg food etc decamped with 3 days advance perdiems and allowances. We cut a very sorry figure to our clients.
Forgive me if I'm off the mark, but isn't 20k per month extremely low, comparable or even less than what a taxi driver would earn? I have heard various theories such as how the caste system is responsible for people not wanting to work in proper engineering jobs, and what you've written about "youth's hunger" and the lack of their desire to excel. Ultimately, salary and other economic factors seem to be bigger considerations, coupled with the education system that aims at quantity instead of quality. Hiring and retaining engineering talent needs better salaries and initial training that few employers are willing to invest in.
tandav
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by tandav »

It's something that was discussed with candidate and was his own ask. Generally in tier 2 or tier 3 colleges and towns such starting salaries are common for civil site supervision roles. As the candidate demonstrates competence in managing site, labor, sub contractors etc salaries increase

The site deployment also comes with a food and accommodation per diem while person is on a remote location.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Vips »

India's exports fall 12.7% in April; trade deficit at 20-month low.

Merchandise exports fell to a six-month low and imports did their worst in 20 months -- both in value terms — in April as sluggish demand for Indian goods due to an economic downturn in key destinations and easing commodity prices weighed on India’s trade basket.
The data released by the commerce department showed outbound shipments from India witnessed a sharp 12.7 per cent contraction at $34.66 billion during the first month of the fiscal year while those inbound saw a sharper decline at 14 per cent to $49.9 billion, leading to a 20-month-low trade deficit at $15.24 billion. This is the third and fourth consecutive month of a contraction in exports and imports, respectively.

Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said the demand scenario did not look “very optimistic” for the next two-three months though the situation was expected to improve September onwards.
Demand has not been good from the United States and Europe, some of India’s biggest export markets.

“Recession in some of the developed economies, as well as the lingering impact of the Russia-Ukraine conflict, is now making a very active impact and, combined with this, some cooling of commodity prices. Petroleum prices have been relatively cooling and the impact is visible both on imports and exports,” Sarangi told reporters on Monday.
While the value of goods exported has been slowing since July, the sharp decline in imports in April was mainly due to cooling commodity prices as well as reduced demand for items such as gems and jewellery.

Aditi Nayar, chief economist, ICRA, said the year-on-year decline in the merchandise trade deficit in April was driven primarily by non-oil items, with the fall in crude oil prices partly absorbed by higher volumes.

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On a sequential basis, the contraction in imports and exports in April was sharper at 17.2 per cent and 16.8 per cent, respectively.
Exports of non-petroleum products and non-gems and jewellery, also known as core exports, contracted 9.2 per cent in April to $25.76 billion. Their imports also declined to $31.49 billion, contracting 12.5 per cent.

Rajani Sinha, chief economist at Care Ratings, said given the weak global growth outlook, she expected overall merchandise exports to contract by 5 per cent in FY24.

“However, what is worrisome is that non-oil and non-gold imports, which are a reflection of domestic demand, have contracted on a y-o-y basis for the fourth consecutive month. The trade deficit is expected to narrow further, and we expect the current account deficit to reduce to 1.6 per cent of GDP in FY24 from an estimated 2.1 per cent in FY23.

India’s merchandise exports witnessed a contraction in 19 out of 30 sectors in April. Key export items that dipped in April include petroleum products (-17.62 per cent), plastics and linoleum (-18.95 per cent), gems and jewellery (-30 per cent), engineering goods (-7.15 per cent), and cotton yarn (-23.42 per cent). Among sectors that experienced positive growth include electronic goods (26.49 per cent) and drug and pharmaceuticals (10.45 per cent).

Merchandise imports contracted in 23 out of 30 items including coal (-28.5 per cent), crude petroleum (-13.95 per cent), chemicals (-31.4 per cent), precious stones (-18.7 per cent), transport equipment (-14.9 per cent), electronic goods (-5.7 per cent), and gold (-41.5 per cent).
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by drnayar »

we did think so when Elon started following Modiji on twitter !!

Tesla has developed feelings for India yet again. :mrgreen:
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

Elon's take on SoreAss ...

He is an evil out to destroy The civilization means ... he knows Modi is savior of the world

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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Cyrano »

Good he is calling out this scum for what he is, a toxic prick.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Vips »

He cant stand so called Liberals and calls out them for what they are.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by dsreedhar »

Whats up with the TCS for credit card payments outside India. There is a pushback in social media.

https://www.indiatoday.in/business/stor ... 2023-05-18
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by yensoy »

vijayk wrote:Elon's take on SoreAss ...
He is an evil out to destroy The civilization means ... he knows Modi is savior of the world
I am not a Musk fanboy, far from that, but did Musk actually refer to Soros' background or is this a figment of WaPo's imagination? No doubt Soros deserves to be ideologically destroyed but one doesn't need to get antisemitic to do that.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by gakakkad »

soros has a massive army of people in world media to come to his defence. within an hour of musks speech there were articles in 10 places already.

any criticism of soros is termed as anit-semitism. to the extent that even likud party and netanyahu have been almost described as anti-semitic for being critical of soros !! musk gave no reference to soros ethnic background. that was just imagined outraged.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Zynda »

dsreedhar wrote:Whats up with the TCS for credit card payments outside India. There is a pushback in social media.

https://www.indiatoday.in/business/stor ... 2023-05-18
Lots of push back...I think GoI is not able to articulate clearly why another tax (albeit refundable) is needed...These kind of charges affect middle class mainly and I see on SM that middle class are fed up & upset for being taken for granted...
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