In October 2014, five months into office, the Narendra Modi government unveiled one of its biggest reforms, lifting state controls on diesel prices and aligning these with international crude oil costs.The bold decision was aided by a fall in global oil prices to near four-year lows, making for the first domestic diesel price cut since January 2009.Until then, diesel prices were determined by oil marketing companies, not based on crude oil price movements, but largely based on electoral implications.Close This was also aimed at helping offset the shocks when global crude oil prices shoot up. related news Here's all you need to know about Ships Recycling Bill, 2019 Centre may amend IBC to shield new owners of bankrupt companies : Report Government mulls tie-up with Amazon, Flipkart to help MSMEs boost sales: Report In a related move, from June 16, 2017, petrol and diesel prices are revised daily as opposed to fortnightly earlier.The smallest changes in international oil … [Read more...] about Modinomics | Biting the bullet on fuel reforms
Timkensteel earnings report
Below is the complete speech delivered by Finance Minister Piyush Goyal on February 1, 2019."Madam Speaker,I rise to present the Interim Budget for the year 2019-20. I am deeply conscious of the absence of Shri Arun Jaitley today. I am sure the House joins me in wishing Shri Jaitley speedy recovery, good health and a long life in the service of the nation.Close Madam Speaker, the people of India gave a strong mandate to our Government. Under the visionary leadership of Hon'ble Prime Minister Shri Narendra Modi, we have given the most decisive, stable and clean Government and have undertaken transformational structural reforms. We have reversed the policy paralysis engulfing the nation and have restored the image of the country. The major achievement of this Government was that we strived our utmost to change the mind-set and ignited the self-confidence of the nation. related news Need feel-good factor to revive consumption: Exide Life CIO Shyamsunder Bhat … [Read more...] about Full text of Finance Minister Piyush Goyal’s 2019 Budget speech
The tech company Basecamp has a mostly remote staff of less than 60 people. But even its headquarters aren’t in Silicon Valley; Basecamp is in Chicago. Which is why it was a bold move earlier this month when cofounder and CTO David Heinemeier Hansson announced in a blog post that the company is paying its workers according to San Francisco’s labor market. advertisement advertisement Since their employees are scattered all over the globe, it wasn’t clear what the cost of living benchmark should be. According to Heinemeier Hansson, “It started to increasingly seem like an arbitrary choice, and if we were going to make one such, why not go for the best and the top?” So as of January 1, Basecamp employees will receive a salary reflective of the top 10% of what software companies are paying in San Francisco (compared to base pay plus bonus, but not options). They also offer some amazing benefits. ( Put your resumes away, … [Read more...] about Could Paying Top Dollar For Staff Be Worse For The Labor Market?
“It’s the creatives, stupid.” advertisement advertisement On the August evening that opens the Edinburgh International Television Festival, Kevin Spacey is giving the keynote speech, a jeremiad against his hosts delivered with all the fervor of a Tea Party populist railing against Washington. The Oscar-winning thespian looks like a politician, his hair perfectly in place and his suit a somber charcoal. He emotes like a politician, too, as he launches into a withering takedown of the traditional way that Hollywood makes television, lambasting everything from the pilot process to TV executives (“those network people”) who are always “sticking their fingers in creative decisions and having opinions about everything.” And like the scheming pol he plays on House of Cards, the Netflix drama whose first season debuted in February 2013 and for which Spacey earned an Emmy nomination, Spacey offers his speech in silky soundbites uttered in his … [Read more...] about Netflix: The Red Menace
Abhijit Kumar DuttaThe NDA government has thought up a novel way to crank up consumer spending in the country, which logically should give a leg-up to the insipid demand in the economy and eventually set the growth engine in motion.On December 4, the Union Cabinet cleared the Social Security Code Bill, 2019, which, among other things, offers the option to millions of employees in organised sectors to reduce their share in the provident fund contribution and thereby increase their take-home pay.Close At present, the employee’s contribution to provident fund is fixed at 12 per cent of basic salary. The employer also provides a matching amount to the fund, a portion of which goes to the pension corpus. related news 3-Point Analysis | MF industry sees rise in AUM About Pradhan Mantri Awas Yojana Though the contents of the code are not in the public domain, an Economic Times report suggests that the code will have a provision whereby the employee contribution to … [Read more...] about Save or spend — The provident fund puzzle