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Abheek Barua, Independent Economist, says the issue lies with mass consumption, which doesn't just involve the very poor but mainly affects the lower middle class. Particularly, when income rises from Rs 15 lakh to over Rs 15 lakh, there is a significant increase in the tax rate. This is a point that could catch the finance minister's eye. Whether it's a small adjustment or a direct tax cut, it serves as a crucial fiscal measure to counter economic downturns. Barua anticipates some action in this area. Consumption has taken a hit over the last few years. What are your expectations with respect to income tax tweaks that could come in in the Budget? Do you expect some relief? Sources, in fact, are telling us that perhaps some tweaks for lower income class could come in. Do you expect that, especially with the objective of boosting mass consumption? Abheek Barua: I think you are spot on. The problem is with mass consumption and mass consumption does not refer to the absolute bottom of the pyramid, but really to the lower tiers of the middle class and especially when you move from Rs 15 lakh to Rs 15 lakh plus, there is a very large jump in the tax rate. That is one area that could get the finance minister's attention.

Oyo, including Lightspeed Venture Partners, are in talks with a group of family offices to sell part of their stakes in the hospitality startup at a valuation of around $3.9 billion, people briefed on the matter said. Peak XV Partners, another early investor, recently sold some of its remaining 3% stake, clocking about $80-90 million in returns, they said.

Aditya Birla Fashion and Retail Limited (ABFRL) on Wednesday approved issuance of shares worth about Rs 2,379 crore on a preferential issue basis to promoters and qualified institutional buyers (QIBs). After a board meeting to consider the fund-raising proposal, the Aditya Birla Group company said it had approved the issuance of up to 4,08,72,580 equity shares at an issue price of Rs 317.45 per share, for an aggregate consideration of up to Rs 1,297.5 crore to the promoter group.

artificial intelligence should not lead to a ‘race to the bottom’ by overlooking AI governance or risks to humanity, said Amandeep Singh Gill, UN secretary-general’s envoy on technology. He said India, with its technological prowess, has the potential to emerge as the leader of the Global South in digital transformation. Gill, who is at the forefront of international cooperation on AI governance, spoke to ET’s Annapurna Roy & Himanshi Lohchab during his ongoing India visit. Edited excerpts:

BMO Financial Group has entered a partnership with alternative asset manager Canal Road Group in a deal that will enable the latter to invest up to US$1 billion in direct lending, as the Canadian bank seeks to grow its presence in the booming private credit market.

A regulator in the United States has charged a unit of the Bank of Montreal (BMO) more than US$40 million for selling mortgage-backed bonds that it says offered misleading metrics and did not accurately describe the characteristics of the collateral backing the bonds.

As firefighters and officials continue to battle the massive fires around Los Angeles, one man in the hard-hit Altadena area told Global News how he stayed behind to try to save his and his neighbour’s houses.

Subscribe to enjoy similar stories. The Association of Mutual Funds in India (Amfi) recently released the updated half-yearly data on market capitalization classifications for listed stocks. As defined by the Securities and Exchange Board of India (Sebi), largecaps are the top 100 companies by market capitalization, midcaps are ranked 101 to 250, and smallcaps are those ranked 251 and beyond.

A Quebec father says he had to take his son to the United States for care after alleging doctors in Montreal wrote off his son’s chances at survival.In October 2024, two-and-a-half-year-old Arthur Tetrault was found in the pool of a home his family was renting in Ile-Bizard, Que., a Montreal suburb.Nicolas Tetrault said his son was rushed to the Lakeshore General Hospital Emergency department, and eventually, was transferred to the Montreal Children’s Hospital.It was there where his father said he began to grow unsatisfied with how his son was being treated.“They decided unilaterally that Arthur had no chance of survival, couldn’t breathe on his own (and) would be basically in the vegetative state for the next years of his life,” Tetrault said.Not wanting to give up on his son, Tetrault said he started doing his own research on possible treatments for drowning victims.He found the work of Dr. Paul Harch, a specialist on hyperbaric oxygen treatment in Louisiana who claims he’s had several positive results in young victims of brain injuries, including that 85 per cent of severely drowned children would see some level of improvement with hyperbaric oxygen treatment.Tetrault said he asked doctors in Montreal to give Arthur hyperbaric oxygen treatment and other alternative treatments based on increasing oxygen levels.According to him, they said no.

Subscribe to enjoy similar stories. There has been movement on the 2008 India-US nuclear deal after prolonged dormancy.

Subscribe to enjoy similar stories. A civil war has erupted among Donald Trump’s supporters over the H-1B program, America’s primary visa for skilled workers. Does putting “America First" mean ending the program, as Steve Bannon believes, or supporting it, as Elon Musk and Mr.

Delhi Assembly Polls, Alka Lamba, slammed former Aam Aadmi Party national convenor Arvind Kejriwal, over the alleged use of Rs 33 crores of taxpayers' money for the renovation of the Chief Minister's official residence during the pandemic.

Subscribe to enjoy similar stories. Mumbai: Maoist-troubled Gadchiroli in Maharashtra is not the easiest of places to do business. Chandrapur-headquartered Lloyd Metals and Energy, one of the few companies to venture into the region with an iron ore mine in 2021, has done so with a great degree of success.

Gukesh Dommaraju's crowning as the World Chess Champion has propelled the sport's popularity to new heights in India-livestreams of matches on platforms like YouTube, ChessBase, Chess.com and Lichess.org are drawing record-breaking numbers of Indian viewers.

Subscribe to enjoy similar stories. New Delhi: The government has asked states to ease land availability for renewable energy projects with a focus on wind power, two people in the know of the developments said, citing industry concerns over the pace of progress. States are now looking at consolidating unutilized government land for wind power projects as the ministry of new and renewable energy pushes for completion of 500 GW of non-fossil power capacity by 2030.

Subscribe to enjoy similar stories. JSW Energy Ltd has announced the acquisition of O2 Power Pooling, a company engaged in renewable power, for an enterprise value (EV) of ₹12,468 crore. While the total consideration is ₹15,154 crore, the net working capital is ₹2,686 crore largely made up of cash, thus resulting in a lower net EV.

Subscribe to enjoy similar stories. New Year is often the time to make resolutions for a healthier and fitter lifestyle. And gyms, running or swimming are not your only options.

technology multinationals, global capability centres (GCCs), and IT companies race to hire the best workers in a constrained labour market, inflating wages, said industry experts.