Stock markets likely to see more corrections

Business Standard

To help companies understand the oral hygiene market better, Nielsen's Innovation Practice compiled a list of 191 new toothpaste concepts tested globally between 2010 and 2013 across 20 markets. The study was carried out to identify and highlight communication elements that occur more often among successful innovations.

Winning in The oral hygiene market

How has the auto sector, a bellwether for economic recovery, been doing? 2014-15 is not yet over, but some trends are discernible

StatsGuru: Taking stock of the auto sector's key numbers

This refers to the report "SC asks Centre to tell states not to make Aadhaar mandatory" (March 17). The Supreme Court has once again ruled that the Aadhaar card cannot be the sole means of benefits transfer. This is because the speedy and time-bound issue of Aadhaar is not getting the desired attention. If the government feels that Aadhaar is a good vehicle to transfer entitlements with minimum leakage, then it must put far greater effort to ensure it is obtained easily. After decades, the issues of passport and PAN card have been streamlined with their time-bound delivery, but Aadhaar cards would far exceed their combined numbers. The existing infrastructure for the delivery of Aadhaar is just not there.The best solution would be to annex Aadhaar modules to passport service kendras. Akin to the processing of passports, for Aadhaar too, the date and time for appearance can be intimated after application and posted within two weeks thereafter. Since both are related to personal identifi

Letters: The Aadhaar conundrum

The decline in inflation in February reflects subdued manufacturing inflation and a sharp fall in fuel inflation

Disinflationary trends steepen in February

CRISIL has analysed the performance of 2,185 micro, small and medium enterprises (MSMEs) in the manufacturing sector, which were rated on the basis of their financials in 2013-14 (financial year April 1 to March 31).The study revealed that MSMEs in the engineering sector - i.e., auto ancillary and components, capital goods, machinery and machine tools, electrical and electronics components and equipment - registered lower growth as compared to other segments.The average income of engineering-based MSMEs increased to Rs 16.89 crore in 2013-14, from Rs 14.33 crore in 2011-12, at a compound annual growth rate (CAGR) of 8.58 per cent. In comparison, the average income for the other manufacturing segments (i.e. excluding engineering) increased to Rs 26.50crore in 2013-14, from Rs 19.11 crore in 2011-12, at a CAGR of 17.74 per cent.MSMEs in the engineering-based segment, manufacturing electrical and electronics components and equipment, grew at a CAGR of 9.18 per cent, followed by those manu

Slow investment a drag on MSMEs in engineering sector

Costlier capital means bar for efficiency raised

A new challenge for railways

Funds may be a hurdle for Mr Modi's Indian Ocean ambitions

Budgetary constraints

Prime Minister Narendra Modi's faith in traditional therapy and yoga is well-documented - he even advised Delhi Chief Minister Arvind Kejriwal to consult a yoga expert in Bengaluru for his persistent cough and high sugar levels. Now, senior bureaucrats will learn stress management techniques at a two-day workshop to be conducted by the Vivekananda Yoga Anusandhan Sansthan. The workshop, starting March 28, is being organised for officers of the Department of Personnel and Training, and the Cabinet Secretariat. Starting as a pilot project, the programme might be extended to officers working in other ministries.

'Alternative' the new black?

An eerie silence has descended upon the Ministry of Coal within a week of pulling off the first e-auction of the commodity. Some low bids received during the auction were re-examined on the orders of the central government. The nominated authority for the auction and an inter-ministerial committee examined the bids and submitted their reports. The industry says it is a Catch-22 situation for the ministry - if it decides to scrap the auction, it stands to undermine the self-designed 'transparent' auction system. If it doesn't, the next phase of the auction will likely come under a cloud due to the procedural confusion.

Stuck up on coal

Marketing at its best or eyewash at its worst? Real estate firm K V Developers is offering India's first swine flu-free homes under its project, WindPark, a group housing scheme developed at Tech Zone IV, Greater Noida West, near Delhi. The company claimed in a statement that the technology it would use had been tested and recommended by various renowned national and international institutions, including IIT, Kharagpur, and the International Testing Centre. The project, advertised as "germ-free, bacteria-free", will start delivery in 36 months.

Disease-free homes

This refers to Rajeev Chandrasekhar's article "MUDRA Bank: A catalyst for India's 10% GDP growth" (March 16). Let us consider four aspects for a reality check. Firstly, the informal sector with physical settlements is an encroacher and squatter, bordering on illegal existence. Take West Bengal, for example, where the government has now launched a scheme to issue a certificate of registration to around 50 lakh hawkers. The idea is to first legalise these enterprises before financing them. Secondly, no credit guarantee scheme can insure any illegal business, when they infringe the municipal Acts - which prohibit the setting up of any units within its limits. The ease of doing business for the informal sector has different paradigms.Thirdly, if the record of the mother ship, the Small Industries Development Bank of India (Sidbi), is any indicator - whose subsidiary the Micro Units Development Refinance Agency (MUDRA) Bank will be - an exclusive refinancing institution model is a recipe fo

Letters: A recipe for disaster?

Apropos the Chinese Whispers item "Enemies and friends" (March 16), in politics, there are no permanent friends or foes. Till the Lok Sabha elections, both Nitish Kumar and Lalu Prasad Yadav were found cutting the ground from under each other's feet. It was the Bharatiya Janata Party (BJP)'s stupendous victory in the general elections which compelled them to join hands. Now, Kumar and Lalu know that if they do not fight the next Assembly elections in Bihar together, the BJP will emerge victorious.Whether Kumar and Lalu can work in unison will only be known when they decide on how many seats their respective parties, the Janata Dal (United) and the Rashtriya Janata Dal, will contest and who will be the chief ministerial candidate.Tarsem Singh  HoshiarpurLetters can be mailed, faxed or e-mailed to:The Editor, Business StandardNehru House, 4 Bahadur Shah Zafar MargNew Delhi 110 002Fax: (011) 23720201E-mail: letters@bsmail.inAll letters must have a postal address and telephone number

Letters: Friends, foes and politics

Apropos Rajeev Chandrasekhar's article "MUDRA Bank: A catalyst for India's 10% GDP growth" (March 16), despite our economy being dominated by banks, cheap credit is not accessible easily to small borrowers from all the segments. At a time when these borrowers are looking for cheap, institutionalised credit for their day-to-day working, the Micro Units Development Refinance Agency (MUDRA) Bank will certainly help and accelerate the flow of credit. Many people, especially from semi-urban and rural areas, still approach moneylenders for their business requirements. These lenders charge exorbitant rates of interest. The income generated from small economic activities is not sufficient, and consequently, borrowers remain in debt.The MUDRA Bank will need to deliver credit at cheap rates to ensure that the end users benefit from this.V S K Pillai  KottayamLetters can be mailed, faxed or e-mailed to:The Editor, Business StandardNehru House, 4 Bahadur Shah Zafar MargNew Delhi 110 002Fax: (011)

Letters: Easy credit

India's gold obsession needs a correction

Business Standard analyses one family's finances and suggests a way forward

Case study

Former Union minister and senior lawyer Kapil Sibal appeared in the Sahara case for the first time on Friday. At one point, when the judges asked Sahara to share the details of a proposed deal to raise Rs 10,000-crore bail money with the Securities and Exchange Board of India and amicus curiae in writing, Sibal expressed concern that these details were confidential and could be deal-breakers if they found their way into the media prematurely. When it was suggested that Sahara should share the details on telephone, judge A K Sikri intervened and said: "(If it is confidential) don't say it on telephone." Those present in the courtroom burst into laughter.

Privacy concerns

Apparent hardening of inflation means less room for RBI

A re-emerging dilemma

Recently, I got married. At the wedding, my wife and I received a lot of cash as gift. We are both salaried and pay income tax. Do we have to show the cash received at the wedding as income and pay tax on this? Gifts from strangers are taxable under Section 56 of the Income Tax Act, 1961, under the head of income from other sources. There are a few exceptions and your case is covered therein. Amounts received by you on the occasion of marriage are not considered taxable. However, you would need to maintain the record of amounts received, along with the names and address of relatives/friends , so that in case of scrutiny/enquiry by the tax authorities, you can substantiate the claim.I am a retired government official and most of my savings are in the form of joint bank fixed deposits (FDs) with my wife. Will both of us be taxed on the interest income earned from the FDs? Other than this, I get pension, on which I am already paying income tax. Can my wife alone pay tax on the interest in

Taxation: Kuldip Kumar

Today's digital workplace has made listening more difficult, finds a recent Accenture report. The research, Listen Learn Lead, which surveyed 3,600 professionals from 30 countries, found 80 per cent respondents multitask on conference calls with work emails, instant messaging, personal emails, social media and reading news and entertainment.Those who listen actively on calls typically either need something from the call or are required to lead, participate in or follow up on the discussion.The study says while nearly all (96 per cent) professionals consider themselves to be good listeners, the vast majority (98 per cent) spend part of their workday multitasking. In fact, almost two-thirds (64 per cent) say that listening has become significantly more difficult in today's digital workplace. While 66 per cent of respondents agree that multitasking enables them to accomplish more at work, more than a third (36 per cent) say the many distractions prevent them from doing their best, resulti

Listening in a connected world

A recent research from global management consultancy Hay Group reveals since 2008 the pay gap between lower level employees and senior managers in India has widened. Senior managers are paid 11.7 times more than lower level workers (skilled manual, clerical, supervisor or graduate entry jobs). The change in the average percentage difference from the start of the recession in 2008 to 2014 stands at 52.14 per cent. This increase in pay differential can also be linked to an intense talent war and increased competition for the few selected jobs available, which keeps the pay limited to a certain bracket.The pay gap has also accelerated as globalisation opened up workforces and lower-level jobs are increasingly automated and off-shored. This reduces the number of jobs available and increases competition.In contrast, salary is going up for senior managers where skills such as emotional intelligence, creative thinking and advanced judgement are in high demand and short supply. The report says

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