Deloitte Financial News

Close to 36% of the respondents surveyed in 2024 as compared to 32% in 2023 said they will prefer hybrids or PHEVs as compared to 10% for BEVs. Compared to 2023 the jump in the number of those favoring hybrids is 4 percentage points — double of what is seen among those likely to opt for EVs. Also, there's an overall growing intent to buy a non-traditional engine vehicle-53% in 2024 compared to 49% in 2023 over petrol and diesel. The intent to buy hybrids over pure battery electric vehicles comes to the fore even as EVs benefit from state as well as central government funded incentives which in turn has allowed manufacturers to price them better as compared to hybrids. This is despite the hybrids costing more than EVs. «People want to buy hybrids over EVs as it offers peace of mind that EVs can't,» says Rajeev Singh, partner and consumer industry leader, Deloitte Asia Pacific.

Modi 3.0 would be a reality. “In the full budget in July, our government will present a detailed roadmap for our pursuit of Viksit Bharat,” she said, her emphasis falling precisely on two words — “our government”. This is possibly the first time a finance minister has exuded such confidence in presenting a vote-on-account, saying on record that the same regime would present the full budget after the elections. ALSO READ: Agenda of Modi 3.0: It will be driven by aspirations like $7 trillion GDP by 2027 The question is, if the Narendra Modi government indeed gets installed for the third time in May, and with a resounding mandate, will it embark on bold and pathbreaking economic reforms? Will the new regime be able to navigate the complexities of pending reforms requiring widespread consensus? Will it unveil radical and unexpected economic overhauls in food, fertiliser and petroleum subsidies? Will it, perhaps, discard all income-tax exemptions?

Experts warn of imminent disruption to business continuity unless addressed institutionally, attributing the risk to multifaceted business challenges.

NEW DELHI : India’s aircraft maintenance, repair, and overhaul (MRO) units have sought a reduction in rental rates at which the government renews their land leases, Mint has learnt. “The industry has sought intervention by the civil aviation ministry on lease rentals for the MRO industry. The norms state that a new allotment of Airports Authority of India (AAI) land is approved at 40% of prevailing land lease rates for MRO companies.

Malabar Gold, Senco debut on Deloitte's global luxury goods list The research firm raised its metallurgical coal price assumptions for 2024 to $270 per ton from $220 per ton. The primary drivers behind this surge are limitations in supply from Australia, heightened tensions in the Red Sea region, and robust demand from India and other markets outside of China.

₹2 lakh. “QCOs are issued in the interest of consumers, so that end-users should get a quality product and manufacturers should comply with prescribed standards.

History is littered with financial companies that were undone by one bad bet. Investors are worried that B. Riley Financial will be one of them.

Wipro, and Genpact during the quarter ended December. The REIT has also provided guidance of 2.0-2.4 million sq ft new leasing for the next 4-5 quarters. Of the total deals, new leasing is around 500,000 sq ft including 400,000 sq ft in its Special Economic Zone (SEZ) assets, the highest ever since the REIT’s listing in February 2021. The December quarter leasing sequentially outperforms the previous best quarter of July-September by over 22%. Lease renewals by occupiers including Deloitte and Evalueserve for 233,000 sq ft and 212,000 sq ft, respectively, totalled 539,000 sq ft during the quarter.

(Reuters) — German software company SAP has nominated Finnish businessman Pekka Ala-Pietila to stand for election as chair of its supervisory board after current chair designate Punit Renjen decided to resign, SAP said on Sunday. Ala-Pietila, a former president of Nokia (HE:NOKIA) Corporation who sat on SAP's supervisory board from 2002 to 2021, will stand for election at the next general meeting, the company said in a statement.

By Clare Jim and Scott Murdoch

Mint reported that India is considering reforming the lines of credit (LoCs) it grants to other countries to improve its economic diplomacy. So far, India has extended over 300 lines of credit to 65 countries with an estimated value of $30 billion.

Budget 2024: Finance Minister Nirmala Sitharaman introduced a new tax regime in the Union Budget 2020-21. However, it comes with certain conditions. The government is trying to make the new tax regime attractive for income taxpayers. From 1 April, 2023, the new income tax regime has been made the default tax regime. However, the citizens have the option to avail the benefits of the old tax regime.

BENGALURU : Edtech company Byju’s warned about its ability to continue operations after finally posting its financial numbers for fiscal year 2021-22, only to report that its losses had ballooned to ₹8,245 crore from ₹4,564 crore in the year prior. Hurt by continuing losses from operations combined with debt-related risks, Byju’s said in a regulatory filing on Tuesday that a “material uncertainty" existed. “These events and conditions cast significant doubt on the company’s ability to continue as a going concern," the company said in a filing with the ministry of corporate affairs.

Tapati Ghose, Partner, Deloitte, says “we could expect amendments towards simplification of tax, ease of compliance, and a review of Chapter VI A. As regards simplification of taxes, additional steps to make the new tax regime more attractive with further widening of the slabs and reduction of some of the tax rates could be on the cards.”

₹10.2 lakh crore in FY25, implying a relatively sedate YoY expansion of about 10 per cent, compared to over 20 per cent expansion seen in each of post-COVID years. The slowdown in capex growth is likely to have some bearing on economic activity and GDP growth." To generate jobs in the rural sector, the government may announce some incentives to increase investment in rural infrastructure and extend the scope of production-linked incentive (PLI) schemes to sectors such as chemicals and services. “One of the ways could be higher spending on building rural infrastructure or providing incentives that improve cash flow...

Arvind Laddha, president at Mercer India. “As a result of this, companies have had to rethink their talent strategy so they can attract and retain employees with these skills while also redesigning their organization to reflect new ways of working." Variable payouts are expected to be higher for executives at the Big Four—KPMG, PwC, EY, Deloitte.

Mint. Heidrick & Struggles said three in five respondents were seeking new directors either to overhaul their board or as they needed to hire a new director in 12–18 months. “About three quarters of the respondents cite the retirement of a director as the reason they are undergoing a refresh, and one in two aim to infuse new skill-sets into their boards," stated the study.

National Financial Reporting Authority (NFRA) is planning to directly engage audit committees of large listed companies to sensitise them about accounting standards and their role, a first-of-its kind regulatory outreach to curb corporate frauds, people aware of the watchdog's thinking told ET. The audit regulator is firming up a mechanism to hold regular huddles with the audit committees, said one of the persons, who did not wish to be identified. These committees comprise mainly independent directors and oversee the statutory audit compliances of companies.

Indian economy is warming up to booming economic activity all around. One could hardly miss the crowded stations and airports, hotels going full, and streets bustling with people. Economic activity has been gaining momentum for over a few quarters, with questions on whether this year’s global economic headwinds are strong enough to impact the domestic buoyancy or whether they too will have bottomed out by the end of 2024.

₹568 billion which is equivalent to over 10 months of import cover. At present inflation stands at 5 per cent which is albeit high as per the reserve Bank of India's target range, but much lower than what it used to be a decade back, it added.

GDP growth in the range of 6.9-7.2 per cent in the current financial year on the back of improving economic fundamentals, Deloitte India said in an update to its quarterly outlook. As per the first advance estimates of national income released by the National Statistical Office (NSO), the Indian economy is estimated to grow by 7.3 per cent in the 2023-24 fiscal, against 7.2 per cent a year ago, mainly due to a good show by mining & quarrying, manufacturing and certain segments of services sectors.