Ey India News

Subscribe to enjoy similar stories. The US Supreme Court’s ruling blocking the use of emergency powers under the International Emergency Economic Powers Act (IEEPA) to impose sweeping tariffs has significantly narrowed the executive branch’s trade toolkit. While the administration can still pursue tariffs under other statutes, those routes are more constrained, procedurally demanding and legally vulnerable.

Dear reader, as 2025, a year of global tumult and volatility, rolls by, Mint's reporters and columnists look around the corner on what is coming in 2026—to help you know what to expect and prepare for it. Tell us what you think at [email protected]: After a slew of big insurance reforms since the end of 2024, India's insurance sector is hoping for an uneventful year ahead that would give industry participants time to adapt to the policy changes, and get back on the growth track.The past year saw the impact of the policy surrender value norms introduced in 2024-end.

Anna Sebastian Perayil, who worked at the tax consultancy's Pune office for just four months, tragically passed away in July, with allegations pointing to overwhelming work pressure as a contributing factor. In a letter to EY India chairman Rajiv Memani, Anna’s mother described her daughter’s workload as «backbreaking» and suggested it had taken a severe toll on her physical, emotional, and mental health. The incident has sparked widespread discussions on the excessive demands placed on young professionals across various industries.

Anna Sebastian Perayil, a 26-year-old Chartered Accountant who passed her exams in 2023, tragically passed away after working at Ernst & Young (EY) Pune office for just four months. According to a letter her mother, Anita Augustine, wrote to Rajiv Memani, the Chairman and Managing Partner of EY India, Anna had been overworked to the point of breaking. In her letter, Anita Augustine expressed the deep anguish the family felt, not only from the loss of their daughter but also from the apparent lack of empathy shown by Anna's employers. “No one from EY attended Anna's funeral,” she wrote. The absence of her colleagues and managers during such a crucial time added to the family's sorrow. According to her mother, Anna had given her all to EY, yet in her final moments, no one from the organization was present to pay their respects. Anna's death and her mother's emotional letter have since gone viral on social media, sparking conversations about the toxic work culture in many multinational corporations.

Pune has sparked a debate on social media about toxic work culture. Anna Sebastian Perayil passed away on July 20, four months after joining EY as a chartered accountant. The debate began after a letter from Perayil's mother, Anita Augustine, went viral in which she addressed EY India chairman Rajiv Memani and blamed «the workload, new environment, and long hours» for her daughter's tragic demise. In a heart-wrenching letter to the global accounting giant, Anita blamed “four months of EY’s callous attitude” for her daughter's death. Anna Sebastian Perayil had joined the company in March.

LTA rules can be confusing, especially regarding air travel. ET Wealth Online addresses common queries about LTA for employees.

McKinsey's managing partner in February 2024, Bob Sternfels faced the crucial decision of appointing a global leader of firm strategy to navigate the management consultancy through the pervasive impact of technology, the disruptive potential of AI and rapidly changing client demands. His selection for the role was Ashutosh Padhi, an IIT-Kanpur and IIM-Ahmedabad alumnus. “I chose Ashutosh Padhi, who led our North America business, to drive the innovation agenda that’s critical for the firm’s future. He is now in charge of ensuring we innovate our models rapidly,” Sternfels told ET a few days back.

₹7 lakh from ₹5 lakh earlier to increase its adoption. In value terms, personal income collections after refunds stood at ₹10.44 trillion in 2023-24, growing at 25.23%.

Money from NRE account can be easily transferred out of India. However, the same cannot be said for the NRO account. There are certain document requirements, approval needed from Reserve Bank of India (RBI) and annual limit that must be adhered to in order to transfer money from NRO account out of India. Read on to know the rules an NRI must follow to take the NRO money out of India.

insurance, real estate, and business services. Experts pointed out that although growth moderated in November, some segments that have cooled should pick up in the coming months, lifting the overall growth of the sector. While “electricity, gas, water supply and other utility services" and construction had seen double-digit growth in the September quarter, trade, hotels, transport, communication and services related to broadcasting had seen a moderation in the July-September period, as per GDP data released on 30 November.

Reliance Jio, Bharti Airtel and Vodafone Idea — as revenues remain a relative straggler to data usage. Case in point: While the just-ended cricket World Cup may have boosted mobile data usage by over 4% sequentially in the December quarter for the top three telcos, that will translate only into relatively modest sequential revenue growth — at best 1% — since consumers invariably have large chunks of unused data, precluding mass upgrades to higher value plans. Furthermore, some digital viewing of World Cup action on smartphones was via WiFi and not mobile data. But the saving grace this quarter is likely to be the festive season and the slew of assembly elections in multiple states (Rajasthan, Chattisgarh, MP and Mizoram), coupled with 5G user additions by Jio and Airtel and extra days during the October-December period. This, analysts, estimate could potentially boost overall data usage levels by almost 7-8% sequentially, which, in turn, could drive around 3-3.5% sequential growth in sectoral India mobile revenues during the current quarter. «The World Cup factor will have pushed up data usage levels north of 4% sequentially in Q3FY24 for the top 3 telcos, but it's likely to at best trigger only around 1% revenue upside on-quarter for them as data packs, typically, tend to be under-utilised, which limits possibility of consumers upgrading to higher value packs,» Prashant Singhal, Emerging Markets, Technology, Media & Telecom leader, EY India, told ET. The top 3 telcos collectively reported 3% and 2.4% sequential growth in India mobile revenues in Q1FY24 and Q2FY24 respectively as per company data.

TCS rule is going to impact your investment from tomorrow.

visa application requirements are grappling with the compliance requirements that could get triggered under the new Digital Personal Data Protection (DPDP) Act. Significant data fiduciaries will also have to assess implications not just from a compliance standpoint, but the cash flow impact in tax laws as well under the law that came to effect earlier this month, experts said. The travel and hospitality sector has traditionally had access to a lot of customer data which could all come under scrutiny now. «Companies need to take explicit user consent before user data is used under the new law, and the travel and hospitality sector will see a lot of digital transformation. Because of some of the physical touch points and points of sale, companies are grappling with sensitising their front desks on the matter.

multinationals in India have ramped up their talent search this fiscal year even as recessionary pressures and macroeconomic headwinds keep hiring muted in the West, said top industry officials. The in-house units of global companies in India across sectors such as banking, financial services and insurance (BFSI), pharmaceuticals, retail, energy, automotive and telecom are set to clock half a million gross hires, including attrition refills, this fiscal year, according to data from specialist staffing firm Xpheno.

RBI, card issuers would be prohibited from entering into any arrangement or agreement with card networks that restrain them from availing the services of other card networks. RBI said it is observed that arrangements existing between card networks and card issuers (banks and non-banks) are not conducive to the availability of choice for customers.

Finance Minister Nirmala Sitharaman on Tuesday did not hand out any major tax benefits for individual tax-payers during her Budget announcements.