News digest: Budget 2018, foreign banks, metro network, and more

From expanding metro footprints to Skoda's growth plan, BS brings you up to date with the latest news

Budget 2018: Finance ministry may tweak tax norms for listed stocks

The finance ministry is considering extending the holding period for short-term capital gains (STCG) tax on listed securities from one year to three years, bringing equities on a par with some other asset classes in tax treatment. This is among a number of measures for the capital markets that may be announced in the Union Budget for 2018-19. Read more

Foreign banks' India footprint shrinks as domestic competition hots up

Foreign banks are increasingly shrinking their presence in India and are also becoming more conservative than private and public sector counterparts. While many of them have sold some of their businesses in India as part of their global strategy, some are trying to keep their core expertise intact.

Others are branching out to newer areas to continue business momentum. Read more

Expanding Metro Footprint-I: Network set to grow fourfold in seven years

With just over a three per cent share of the global Metro rail network of more than 13,200 km across 55 countries, India is far behind the big boys such as China, Russia, the US, or South Korea. And half the network is in just one city — Delhi (231 km).

In the nine other cities that also offer Metro rail services, the network runs only on very limited routes, from as low as eight km in Lucknow to a laughable 20 km in the metropolis of Mumbai. Read more

Skoda puts growth plan in place, to invest Rs 152 billion in three years

When German automobile major Volkswagen entered India in 2001 with Skoda, it didn’t matter that it was seen as a mid-market brand in Europe, and commonly used as taxis. Here, Skoda quickly built a reputation as an upmarket European badge with sturdy suspension, proven diesel engines, top-notch interiors and premium pricing.

Annual sales touched their peak in 2011 with 35,000 cars. Read more

Budget 2018: Govt to overhaul railway signal system for locomotive drivers

The government is likely to announce an investment plan to overhaul the age-old concept of red and green signalling codes for railway locomotive drivers. The plan, aimed at addressing safety loopholes, is estimated to cost Rs 600 billion to cover the entire country and might be announced in the Budget.

Six foreign companies, including Alstom, Analsdo, Siemens, Bombardier, and Thales, are the major players in the European Train Control System (ETCS) technology that would be introduced as part of the plan. Read more