Policy action: The Reserve Bank of India’s (RBI) monetary policy committee (MPC) voted 5-1 in favour of leaving the policy repo rate unchanged at 6 per cent, in line with consensus and our expectations. The one dissenting member, Ravindra Dholakia, voted for a 25bp cut. The RBI also lowered the statutory liquidity ratio (SLR) by 50bp from 20 per cent to 19.5 per cent, effective from October 14.
Ever since the release of Apple iPhone 7 and iPhone 7 Plus last year, the tech enthusiasts have been divided into two sects. One that welcomes the omission of the 3.5mm headphone jack and other that advocates the ease of the 3.5mm headphone jack. But Apple has put a nail in the coffin with the absence of the 3.5mm headphone jack in their next line of products. The Apple iPhone 8 and iPhone 8 Plus and the much awaited iPhone X are spectacular devices which still do not have the 3.5mm headphone jack and most likely the jack is gone for good.
Dark clouds roll in and the heavens open up. That is the fear of people living in low lying areas. The fear of the known and unknown and the devastation that flash floods can do in the blink of an eye. Ever since the GDP print of 5.7 per cent has come in, panic has gripped policy mavens and perceptions about the nation’s economic well being have changed dramatically.
Indian medical device industry is sitting on the cusp of transformation — from being a humble and often stressed provider of low end domestic healthcare equipments to aspiring of becoming a global supplier of high end devices of repute. The visionary Make in India programme as rolled out by our prime minister Modi and explicit support assured by various cabinet ministers who are stakeholders of medical device and healthcare sector has spelled the intent to transform the Indian manufacturing landscape and in turn spurred the medical device sector too.
After hitting prime minister Narendra Modi hard over issues like note ban and GST on the foreign soil, Congress vice president Rahul Gandhi is challenging the PM at his home turf, while making a strong attempt to counter the BJP’s charges against his party of being ‘anti-Hindu’ and ‘minority appeasers’ by paying obeisance in temples. Gandhi’s move to visit Hindu holy places in the Saurashtra region of Gujarat is being seen as a befitting reply to the hardline Hindutva of the BJP and RSS.
Augmented reality, face recognition, driverless and electric cars are fast gaining mainstream momentum with companies like Apple, Tesla, Google, Ford and Lyft (among others) determined to embrace technological advantage to offer superior products and disrupt status quo.
Recently, Apple unveiled its new range of phones that bought augmented reality into the realms of actual reality by taking it mainstream and embedding it as an integral part of its product. A wide variety of the changes will not only drive consumption differently, it will also change the eco system around it.
Reserve Bank of India’s June edition of the financial stability report suggested that the gross bad loan ratio is expected to rise to a percentage between 10.2 per cent and 11.2 per cent of the total loan book in March 2018 as compared to 9.6 per cent in March 2017. For public sector banks, things can get uglier — the ratio may go up to 14.8 per cent in March 2018 from 11.4 per cent.
Geopolitical worries were back in focus on Friday with markets witnessing the sharpest single-day fall of 2017.
Investors were also wary of widening fiscal deficit after the Indian finance minister announced the government may come up with measures to revive economic growth. It seems the government is finally taking note of the slowdown instead of talking up the economy.
Rajasthan became fifth state after Uttar Pradesh, Maharashtra, Punjab and Karnataka to announce farm debt waiver. This is to counter the problems faced by agriculture sector in India. Stagnating productivity, value of farm proceeds not significantly higher than input used in production has lead to stagnant farm incomes. So long as a long term and sustainable solutions to these issues are not found, farm loan waiver will keep returning at the state or even national level.
GST promises to be a game changer and the government is dedicated to make it a success with a view to expand the tax net and enhance tax compliance by simplifying tax structure.
While the GST Council has been making all efforts on the simplification part, the automobile segment has been the one facing unpredictability as the council has decided on the cess —over and above the GST rates — to offset any drastic gain by the industry by virtue of implementing GST that subsumes all taxes under one tax.