Demonetisation made our shampoo, soaps, biscuits unavailable at stores: ITC

The ITC on Friday said that the government’s demonetisation drive had led to disruptions in the wholesale trade channels for the company’s FMCG products.
“In the recent past, there had been disturbances in the wholesale channels due to demonetisation which led to unavailability of ITC’s FMCG products in many stores”, CEO of the company Sanjiv Puri said while replying to shareholders’ at the AGM here.
The shareholders expressed grievances that ITC’s FMCG products were difficult to locate at super stores. The company manufactures a plethora of FMCG (non-cigarette) ranging from shampoo, soaps, biscuits, perfumes, packaged foods and read more

Mastercard’s global index ranks India high on digital payments’ front

In what could give a bit of boost to the Modi government’s digital drive, India has been categorised as a country with a high potential in terms of digital payments in a global index of 60 countries.

The country has been clubbed under the ‘Break Out’ segment, according to the Digital Evolution Index 2017 that was unveiled on Thursday by The Fletcher School at Tufts University in the United States (US) in partnership with Mastercard.

The ‘Break Out’ segment refers to countries that have relatively lower absolute levels of digital advancement, yet remain poised for growth and are attractive to investors by virtue of their potential.

The Digital Evolution Index tracks the progress countries have made in developing their digital economies and integrating connectivity into the lives of READ MORE

GST impact: Yogi govt breached ‘One Nation, One Tax’ theme, say SMEs

The small and medium enterprises in Uttar Pradesh have pilloried the Yogi Aditya nath government for purportedly breaching the spirit of ‘One Nation, One Tax’ theme of the Goods and Services Tax (GST) by mandating e-Way Bill for goods of smaller value.
E-Way Bill is an electronic bill required for the movement of goods above the value of Rs 50,000 under GST. However, the Yogi government has mandated it even for transporting goods of the value of Rs 5,000 and above, which the entrepreneurs claim violated the GST rules, since the threshold is 10 times less than as provided under relevant rules.
Claiming that the e-Way Bill decision had been taken in haste, Micro, Small and Medium Enterprises (MSME) chamber, Indian Industries Association (IIA) has asserted it would hit the state’s small and medium businesses hard, while impairing their competiveness as well.
IIA has submitted its representations to the GST Council chairman, Centre, UP finance ministers, UP Tax department etc seeking the rollback of the decision for providing succour to the sector.
The MSME space in UP is estimated at over 4 million units and the sector contributes almost READ MORE

Nitish and Modi’s love-hate relationship: Meet the frenemies in Indian politics

When Congress vice president Rahul Gandhi expressed his angst at Janata Dal (United) president and Bihar chief minister Nitish Kumar simply walking out of the mahagath bandhan or grand coalition, which he had so assiduously stitched together in the state ahead of the assembly elections in 2015, his pain was understandable – for the grand old party has of late being making overtures to all ‘secular’ parties to put up a united front against the BJP.

There can be no better example of this than the love-hate-love relationship shared by Nitish with Prime Minister Narendra Modi. There relationship is best describes as that of a ‘frenemy’ or a person with whom one is friendly, despite a fundamental dislike or rivalry.

Once holding Modi in high esteem, Nitish changed his views in the wake of the 2002 Gujarat riots, even going so far as to end his 17-year alliance with the NDA after it chose Modi to lead its charge in the 2014 general elections and then becoming a bitter critic in the prime READ MORE

Got an I-T notice on cash deposits? Don’t panic and follow this guide

The Reserve Bank of India (RBI), in tandem with public sector and commercial banks, has undertaken data mining on a massive scale to identify how funds have been moved in the country after November 8. The government has come down hard on individuals and businesses operating doctored accounts, having deregistered and shut more than 100,000 companies and penalised more than 300,000 others.
The I-T department has also identified over 37,000 shell or paper companies channelling black money through methods such as hawala. As a part of its Operation Clean Money, the I-T department identifies individuals whose income tax return filings are inconsistent with the amount of cash deposits made in their bank accounts during the demonetisation drive. It then sends a notification through SMS or e-mail, and the individual must provide a response on the department’s website for the same.
If you receive such a notice, do not panic or ignore it. First, verify that the PAN (Permanent Account Number) stated on the notice is yours. Since the I-T department issues notices to a specific PAN and not based on your name, there are chances that an erroneous notice may READ MORE

Ghatkopar building collapse: NDRF saves 11 people trapped under rubble

“Please cut my hands but pull me out of the debris,” implored Pragya Jadeja in a frail voice when she spotted the National Disaster Response Force (NDRF) jawan looking out for survivors after the collapse of a residential building in suburban Ghatkopar on Wednesday.
Mere dono haath kaat do bhaiyamujhe jaldi bahar nikaalo… Nahi to main mar jaungi (cut my both the hands but please pull me out quickly otherwise I am going to die),” the 50-year-old said in a voice filled with pain and helplessness.
Jadeja was one of the 11 survivors pulled out from under the rubble of the four-storey Siddhi Sai Cooperative Housing Society which collapsed last morning, killing 17 people.
Narrating his experience, constable Santosh Jadhav said, “We could hardly peep in to find that Jadeja’s both the hands were partially crushed between two big fallen walls. But we comforted her, cut the huge RCC structure, and finally pulled her out safe.”
Similarly, a 20-year-old woman was pulled out alive from under the mound by the rescuers who reached her after hearing her READ MORE

Medical visas: No restrictions on foreign patients except Pak, says govt

India has not imposed any restrictions on medical visas for foreign patients but in case of those from Pakistan, a recommendation letter from Advisor to the Prime Minister on Foreign Affairs is required for obtaining a visa, the Lok Sabha was informed on Thursday.
In a written reply, Minister of State for External Affairs V K Singh said the government has issued more than a lakh of medical visas so far in this year.

 

The government has not put any restrictions on medical visas for foreign patients, and requests for such visas for urgent medical cases are expeditiously processed and issued on the same day, he said.
“However, in case of Pakistan, we ask for recommendations letter from Advisor to the Prime Minister on Foreign Affairs, to process genuine and urgent cases,” Singh read more