World Last Week: 14 July’14 – 20 July’14

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GetDistributors presenting you the news that you may have missed last week. Take a glance on it:

  • How much taxpayers will gain?

Increase in basic exemption limit by Rs. 50,000 will save Rs 5,000 in tax, while Rs 50,000 raising in investment limit will help them save another Rs 15,000.

  • Growth looks up, inflation cools: Economy report after 1 month of Modi government

A series of good data numbers have come out in recent days that suggest the economy is picking up from decade-low growth rates in the past two years.

  • Automation in IT companies reducing space for employees; puts question mark on future of IT grads

According to data from Nasscom, between April’13 and March’14, the IT industry added only 13,000 employees for every billion dollar of revenue

  • Best investment options under Section 80C to save tax

The PPF is an all-time favorite investment option and the new budget has only made it more attractive by raising the annual investment limit to Rs 1.5 lakh.

  • New BRICS bank to be based in China, India to have presidency

The development bank will have initial capital of $50 billion that could rise to $100 billion, funded equally by each nation.

  • Bullet trains: Should India spend as much as Rs 60,000 crore on the project?

For an organization that is synonymous with slow-moving trains, bullet trains are nothing short of a leap into the future for the Indian Railways.

  • Major reforms on the cards: RBI may allow telecom companies, NBFCs to set up banks

RBI’s first reform proposal will potentially enable the likes of Future Retail and Idea Cellular to set up Payment Banks.

  • Google to spend Rs 100 crore on advertisement of its $100 smartphone project Android One

The launch is planned in time for Diwali when Sundar Pichai, the senior V-P at Google is expected to visit India.

  • Diesel price deregulation likely by December if global price trend stays

The government also plans to cut cooking gas subsidies with steps such as checking its diversion and reducing the number of subsidized cylinders.

  • Malaysian airliner downed in Ukraine war zone, 298 dead

Washington suspected that the missile that downed a flight from Amsterdam to Kuala Lumpur was fired by Ukrainian separatists backed by Moscow.

  • HDFC & HDFC Bank merger plan again in focus as RBI ushers liberal norms for infrastructure lending

A possible merger of the two group HDFC & HDFC Bank could create a financial behemoth that could reduce costs of doing mortgage business for both, say analysts.

  • Samsung battles on two fronts as Apple readies iPhone 6

Samsung is losing smartphone ground not only to cheaper Chinese rivals but also at the high end to Apple Inc, a survey showed.

 

Source: economictimes.com

Posted in: Weekly News

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