CUSTOMER SUPPORT
Gold prices fall by Rs 3,500/10 gm since custom duty cut in Union Budget
Gold prices in India plummeted to ₹67,400 per 10 grams, the lowest since March, due to a combination of reduced import duties and worries about Chinese demand. The government has slashed customs duties on gold and silver by 6%. The basic customs duty has been reduced to 5% from 10%, and the Agriculture Infrastructure and Development Cess lowered to 1% from 5%.
Accelerating with AI: Startups share how they are turning the gears with GenAI
The application of AI is not limited to just customer-facing chatbots and it is also being used for behind-the-scenes applications in areas such as personalised recommendations, marketing, summarization and content generation. In a global perspective, however, Indian startups have not been pioneers, unlike, say, Swedish unicorn Klarna, which used the technology to replace 700 human agents, said Rohit Pandharkar, AI partner, EY.
Gold custom duty cut revive demand after weak June quarter, World Gold Council says
India's gold demand fell 5% in Q2 2024 but is set to improve in H2 2024 due to a price correction following a significant import tax cut. Lower prices and good monsoon rains are expected to boost demand, especially in rural areas. The Reserve Bank of India increased its gold purchases.
One stock or set of stocks from India's digital ecosystem. The better option? 15 stocks, 7 with upside potential more than 23%
It is an incident like the global outage of microsoft which brings different aspects of the digital ecosystem to the forefront. There is a high probability that before this global outage happened, many would have not heard the name of the company called crowd strike. Just for a moment, imagine that there is an internet shut down in metros in India. Which are companies whose real business will get impacted. Will it be a telecom service provider, Will it be a company which runs its business through a mobile app or will it be the company which provides the backend service to that app company. The answer is not as simple as it might appear to be. The digital ecosystem is making things simple but it is yet complicated when it comes to investing.
Should you change jobs when you are unsure?
In Indian society, where job stability has always been highly valued, you feel overwhelmed each time you think of a career or job change, and are not sure where to start. Here’s what you can do.
Stocks to be held till 2029 elections, for risk taker with patience: 7 stocks where budget may lead to real change
For risk takers with patience and stock picks for next five years. To some it might appear to be contradictory. Normally risk is taken when one is looking for short term gains and the suggestion is to keep it for 5 yearsThere is a reason for it. Majority of the stocks in the list are from a sector, which despite being in existence for 3 decades has not grown the way it was expected by all shareholders. In this budget a number of steps have been taken to revive this sector. Right from providing institutional finance to lowering of duty to raw material. If policy changes work well, the top and bottom line will grow manifold and stocks will do well and might be a multibagger. If not then capital invested in them might end up being an under performer. So, a combination of risk and patience to play out the turnaround of the sector.
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Custom duty reduction impact: How gold prices may perform in near future
Government has slashed customs duties on gold and silver by 6 percent. The basic customs duty has been reduced to 5 percent from 10 percent, and the Agriculture Infrastructure and Development Cess lowered to 1 percent from 5 percent. This decision will effectively bring down the overall taxes on gold and silver in the country to 9 percent from an earlier 18.5 percent inclusive of GST.
Feasible & prudent to have three GST slabs: CBIC chief
India's GST structure is set to move towards three tax rate slabs, according to CBIC chairman Sanjay Kumar Agarwal. The GST Council will finalize the plan in its next meeting. Customs duty overhaul is also planned, aiming for simplification and fewer disputes. The online gaming sector’s GST contribution is growing.
Amazon customer discovers live lizard in air fryer package
An Amazon customer, Sofia Serrano, discovered a live lizard in her package after ordering an air fryer. She raised concerns about health risks and responsibility. Amazon responded by asking for purchase details. This follows a similar incident in India where a woman found a snake in her package.
Apple iPhones, Google Pixels to get cheaper, thanks to Sitharaman's budget
Budget: The government has announced a reduction in the basic customs duty on mobile phones and key parts from 20 percent to 15 percent. This move aims to benefit consumers and bolster India's position as a smartphone manufacturing hub. Finance Minister Nirmala Sitharaman made this announcement in the annual budget for 2024-25.
Budget 2024: Realty, banks, defence among 9 sectors that appear short term losers. Here's why
As the dust around the Union Budget 2024 settles down, potential losers in the market as a result of announcements or rather lack of it, are coming to the fore.
Stock picks for next 5 years, for risk takers with patience: 7 stocks where budget may lead to real change in business
For risk takers with patience and stock picks for next five years. To some it might appear to be contradictory. Normally risk is taken when one is looking for short term gains and the suggestion is to keep it for 5 years There is a reason for it. Majority of the stocks in the list are from a sector, which despite being in existence for 3 decades has not grown the way it was expected by all shareholders. In this budget a number of steps have been taken to revive this sector. Right from providing institutional finance to lowering of duty to raw material. If policy changes work well, the top and bottom line will grow manifold and stocks will do well and might be a multibagger. If not then capital invested in them might end up being an under performer. So, a combination of risk and patience to play out the turnaround of the sector.
Budget 2024: Cancer patients get relief but senior citizens missed the attention
The Union Budget 2024, while significantly increasing health sector funding to ₹90,959 crore, failed to address the BJP’s poll promise of including senior citizens above 70 in Ayushman Bharat-PMJAY. The budget features customs duty exemptions for three cancer drugs and changes to basic customs duty for X-ray equipment. Reactions from healthcare leaders underscore the budget's focus on improving accessibility and infrastructure. However, the omission of the senior citizens' health cover highlights a key unfulfilled promise, leaving a gap in comprehensive healthcare improvements.
Budget 2024: Customs duty rejig to fire up Make in India engine
India has revamped customs duties to support domestic manufacturing and align with global value chains. Changes include adjustments for mobile phones, electronics, precious metals, critical minerals, and more. The aim is to promote local value addition and boost export competitiveness.
Budget measures to enhance competitiveness in domestic, export markets: Consumer electronics players
CEAMA praises the union budget for customs duties removal on critical materials. FM Sitharaman's tariff cuts on minerals bolster initiatives like PM Awas Yojana and rental housing. Major firms like Voltas, Panasonic, Kent RO Systems, and MSMEs anticipate growth. SPPL and Amber Enterprises benefit from BCD increase, propelling India's manufacturing sector forward.
'Govt has ears close to ground': Economists praise focus on jobs, inflation in Budget
New Delhi, Finance Minister Sitharaman's Budget 2024-25 emphasizes job creation, inflation control, and fiscal prudence. Economists appreciated its focus on employment, skill development, manufacturing, and sustainability. However, Arun Kumar stressed the importance of labour-intensive sectors and highlighted the unchanged MGNRGES allocation.
Netflix to discontinue basic ad-free plan, is this the end of your OTT journey? Here are the details
In the US and France, Netflix is discontinuing its Basic ad-free package. Customers are forced to select between an expensive ad-free plan and a less expensive ad-supported option. This comes after similar changes in other areas.
Disappointed with Budget? Hunt for stocks in these 10 sectors
Aimed at the trinity of fiscal prudence, investment, and growth momentum, the Union Budget saw the introduction of employment incentives and a simplified income tax regime, which should boost consumption.
Budget earmarks Rs 1.28 lakh cr for telecom min; BSNL gets lion's share of Rs 82,916 cr
The Indian government has proposed a budget allocation of Rs 1.28 lakh crore for telecom projects and public sector firms, with a majority of funds earmarked for state-owned BSNL. The total net allocation is Rs 1,28,915.43 crore, with an additional Rs 17,000 crore for schemes like Compensation to Telecom Service Providers, Bharatnet, and Research and Development.
Customs duty exemption on lithium, cobalt to aid growth of EV sector: Auto Inc
Union Budget 2024-25 exempts customs duties on lithium and cobalt. Extends concessional customs duty on Li-Ion cells till March 2026, removes 2% e-transaction levy. SIAM, ACMA, Deloitte's Rajat Mahajan, Hero MotoCorp, Ashok Leyland, Mercedes-Benz India, and TVS Motor laud the budget for boosting EVs, infrastructure, and sustainability.
Union Budget: Edible oil industry seeks higher customs duty to motivate farmers
Industry experts advocate for higher customs duty on imported edible oils to enhance domestic oil seed production. The Union Budget's allocation towards agriculture and rural development receives positive feedback for promoting sustainability and innovation in the sector.
Budget 2024: Government proposes to fully exempt 3 cancer drugs from customs duty
The government proposes to cut custom duties on Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 10 per cent to nil. Finance Minister Nirmala Sitharaman also proposed changes in the basic customs duty (BCD) on x-ray tubes and flat panel detectors for use in medical x-ray machines under the phased manufacturing programme, so as to synchronise them with domestic capacity addition.
Microsoft outage cause explained: What is CrowdStrike and why users are getting Windows' blue screen of death?
Microsoft experienced a global outage on Thursday due to an issue with CrowdStrike's Falcon Sensor software, causing widespread disruptions and triggering the 'Blue Screen of Death' on Windows PCs. The outage affected services like Microsoft 365, Azure, and numerous other platforms, grounding flights and disrupting various businesses. Despite the serious impact, many users took to social media to joke about the early weekend arrival.
Why will Netflix discontinue its $11.99 basic plan? Will an ad-supported plan help its revenue grow? Details of all plans
To attract more subscribers to its ad-supported plan, Netflix is discontinuing its most economical ad-free subscription. New signups are stopped, however current subscribers can continue with their current plans. Revenue and subscriber growth for the company are still increasing.
Microsoft outage update: Crowdstrike CEO shares how to fix the issue
A global Microsoft outage on Friday, caused by a defect in a third-party software update, disrupted services for millions of users, including businesses, airports, and financial markets. CrowdStrike CEO George Kurtz confirmed that the issue was neither a security breach nor a cyberattack and assured that a fix was being deployed. Microsoft acknowledged the problem and is working on a resolution.
Netflix's efforts to grow ad tier in focus as subscriber growth slows
The streaming giant's efforts to sell a lower-priced ad-supported tier have yielded strong ad revenue growth. The company's ad revenue is expected to have more than doubled in the June quarter.
Women's right over 'rights' of customs
The Supreme Court's recent ruling has brought clarity after decades of uncertainty regarding the rights of illegally divorced Muslim women. The court declared that all Muslim women, including those divorced through triple talaq, have the right to seek maintenance under secular laws, rejecting any discrimination as regressive. This decision aligns with earlier judicial directions emphasizing gender justice and equality. It underscores the supremacy of religion-neutral legal provisions, aiming to prevent discrimination based on personal or religious laws and uphold citizens' rights over primordial identities.
Mumbai customer orders Sparx slipper 6 years ago, Flipkart tells customer it's 'arriving today', conversation goes viral
Ahsan Kharbai's six-year wait for his Flipkart order of Sparx slippers became a social media sensation after he received an unexpected call from the platform's customer support. Despite the order showing perpetual delays, Kharbai's humorous recounting of the incident online sparked discussions about e-commerce logistics and customer service challenges.
Smartphone companies dial up after-sales service network
"Established industry players are increasingly embracing apprenticeship initiatives aimed at cultivating a skilled workforce. These programmes offer courses such as service engineer IT hardware, repair technician, wireman control panel electronics, and electronics mechanic, targeting students who have completed 8th or 10th grade for entry into the field," he added.
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