|
For more article, Visit at : www.amreshanjan.co.cc
Budget Tweaks Income Tax Rates, Slabs Those in the highest income slab stand to gain the most in terms of the income tax proposals of the 2012-13 Budget unveiled. The Budget looks to tentatively pave the way for the proposed Direct Taxes Code with the introduction of new personal income tax rates and slabs. Personal income tax will now be applicable only in case an individual earns Rs 2 lakh or more in a year. Income between Rs 2 lakh and Rs 5 lakh will attract 10 percent tax, up to Rs 10 lakh 20 percent and beyond that 30 percent. Individuals whose net taxable income tops Rs 10 lakh would save Rs 22,660 in tax, while those earning less than Rs 8 lakh will save just Rs 2,060. An aggregate Rs 10,000 interest on savings bank deposits will also be tax-exempt under a new section 80TTA. Source : 16-03-12 Financial Express Compiled by Amresh Anjan Funding For IIMs, Skill Development To Go Up The government has allocated some 18 percent more funds for education in 2012-13. It proposes to set aside Rs 150 crore for establishing additional Indian Institutes of Management and Rs 25 crore for new Indian Institutes of Technology. An allocation of Rs 48,781 crore was being made towards funding education during the year, marking an increase of 17.6 percent over the current year. Finance Minister Pranab Mukherjee said in his Budget speech that Rs 6,362.15 crore would be allocated for the University Grants Commission. This includes funds for central and deemed universities across the country. The minister also proposed a separate credit guarantee fund to strengthen institutional credit for skill development. An allocation of Rs 1,000 crore will also be made to the National Skill Development Fund to boost the National Skill Development Corporation's efforts. Source : 16-03-12 Financial Express Compiled by Amresh Anjan Vocational Training Prospects Improve IndiaSkills Consulting Adviser Hari Menon expects seamless linkage between vocational education and degree-based higher education in five years. This will come about with vocational training modules being made an integral part of school and college curriculum. Mr. Menon said the vocational educational training industry was poised for rapid expansion. However, it suffered from lack of good teachers and trainers. This was a key feature across the educational scene in India, and was most acute in the area of vocational training. Government policies so far were not focused on helping set up new vocational education training centres, but there was some change of late. With the setting up of sector skills councils for particular industries and establishment of the National Vocational Education Qualification Framework, he said, there will be standardisation in curriculum, assessment methodology, infrastructure, quality of training and so on. Source : 19-03-12 Financial Express Compiled by Amresh Anjan Deutsche Bank Promotes India Head & CEO Gunit Chadha, country head and CEO of Deutsche Bank's India operations, has been elevated as part of a management shuffle. He has been named co-CEO of its Asia Pacific business, to be initially based in Mumbai. A member of the bank's Asia Pacific executive committee since 2003, Mr. Chadha will be joining its global group executive committee with effect from June 1. Source : 19-03-12 Financial Express Compiled by Amresh Anjan January Industrial Output Surges To 6.8% Industrial production rose to a surprising 6.8 percent in January, bringing cheer to the UPA government but leaving economists sceptical. Finance Minister Pranab Mukherjee termed it as a "strong recovery", but expressed concern over the sectoral analysis of data. Consumer non-durables, which grew 42.1 percent in January, contributed substantially to the growth. The index of industrial production (IIP) for December was revised to 2.5 percent from the provisional 1.8 percent. Saugata Bhattacharya, senior vice-president and economist at Axis Bank, said though the worst was over, the situation on the ground left much to be desired. The headline IIP figure appeared to be excessively inflated by the consumer non-durables figure, said Siddhartha Sanyal, India economist for Barclays Capital. The core sector, which accounts for about 38 percent of the IIP, was up just 0.5 percent during the period. Source : 13-03-12 Business Standard Compiled by Amresh Anjan Corruption And Scams, Not Jobs, Worry Indians Most An Ipsos study found that 71 percent of Indians regarded corruption and financial or political scandals as their biggest worries. Terrorism was the second major concern for 38 percent Indians. Crime and violence came next at 34 percent. Poverty and social inequality followed at 31 percent, unemployment and jobs 28 percent, high tax rate 15 percent and healthcare and education 14 percent. The trend is not surprising as India ranks 87th in Transparency International's rankings based on perceived levels of corruption, Ipsos said. A series of corruption scandals have embarrassed the government and shaken the markets, it added. Globally, the poll found, 49 percent respondents were concerned most about unemployment and jobs. Poverty and social inequality, corruption and financial/political scandals, and crime and violence were the other major concerns. The survey polled 18,000 people in 24 countries. Source : 14-03-12 Financial Chronicle Compiled by Amresh Anjan Services Promise To Offer Jobs To Young Footballers The All India Football Federation (AIFF) received a boost after the Services Sports Control Board (SSCB) promised to offer jobs to footballers recommended by the state associations. During the AIFF's AGM, SSCB said that besides jobs it would also allow state associations to use their infrastructure for training purposes."The SSCB has promised us that it would give jobs to footballers, above the age of 19, who are recommended by the state associations. It will be a great boost for the next generation of footballers. A secured life will allow youngsters to take up the sport professionally," AIFF vice-president Subrata Dutta told. Source : 20-03-12 Indainsportsnews.com Compiled by Amresh Anjan Glenmark Picks COO from Eli Lilly Glenmark Has Appointed Sandeep Gupta As COO. He Was Formerly Heading The India Subsidiary Of Eli Lilly. During His 18 Year-Old Stint At Eli Lilly, Mr. Gupta Has Worked In Countries Such As US, Philippines, Hong Kong And During The Last Six Years, Headed India Operations Source : 14-03-12 Business Standard Compiled by Amresh Anjan Educomp Names Group CEO Educomp has appointed Sanjay Jain group CEO. He was most recently CEO of enterprise communications service provider Tulip Telecom. Source : 14-03-12 Financial Chronicle Compiled by Amresh Anjan Rich Coal Deal Promises Thousands Of New Jobs In Australia Massive new stocks of Victorian coal will be exported to China, India and Japan in a multi-billion dollar plan that is expected to create thousands of new jobs and kick-start the economy. The Victorian Government is planning to unlock vast resources of brown coal in the Latrobe Valley in a controversial plan to fire overseas power stations and bring the resources boom to Victoria. Energy Minister Michael O'Brien yesterday confirmed the Coalition was seeking expressions of interest for new allocations of coal that were hoped to deliver hundreds of millions of dollars in royalties, as well as billions of dollars of investment in mines, processing and infrastructure. The move flies in the face of the Gillard Government's efforts to slow greenhouse gas emissions through the carbon tax and will inflame environmental groups and the Greens. Source : 20-03-12 news.com Compiled by Amresh Anjan I-Bank Jobs: Financial Institutions Pick Up Slack With overseas firms shedding jobs, financial institutions are soaking up talent for their investment banking teams,. HDFC Bank is planning to recruit 10 i-bankers in equity capital markets and advisory businesses over the next few months. The private lender recently hired Donald D'Souza, former head of investment banking at IIFL, as head of equity capital markets. Nishikant Das from Standard Chartered Bank is also expected to join. Investment bankers are now taking up roles with domestic firms as many of them lost their jobs with multinational corporations, said a senior official of a Mumbai-based HR consultancy firm. Domestic banks and financial services firms are looking to make the most of this opportunity. Other financial institutions planning to hire i-bankers are Avendus Capital, Anand Rathi Financial Services and Axis Bank, headhunters said. Source : 15-03-12 Business Standard Compiled by Amresh Anjan B-Schools Limit Options To Beat Placement Blues Faced with a bleak placement season, B-schools are placing a cap on the number of offers per student. The Indian Institute of Management, Calcutta (IIM-C), has introduced a spot offer system, which means that if a student with an offer in hand receives another offer, he has to opt out of the placements to release the slot for other candidates. Last year, the institute allowed a student to consider multiple offers. This year, restrictions have been placed to narrow down options, said Professor Amit Dhiman, placement chairperson. The number of offers per student was limited to two this year, against three to four in a normal year. XLRI, Jamshedpur, did not impose such riders because of its focus on domestic recruiters. Hiring for international jobs was affected more, according to Professor Rajiv Mishra, chairperson, placements. Source : 14-03-12 Hindu Business Line Compiled by Amresh Anjan Jaguar Land Rover To Ramp Up U.K. Headcount Jaguar Land Rover (JLR) will add a thousand more workers at one of its U.K. facilities to help meet the global demand for Range Rover Evoque and Freelander 2. It will also introduce three-shift, round-the-clock operations. The two vehicles are produced at its Halewood factory in Merseyside, where the headcount will increase to 3,500. The addition will take the total JLR workforce in the U.K. to 21,000. Its recruitment in the country in the past 18 months would be 5,000. JLR is also setting up an engine manufacturing facility near Wolverhampton. In November, the firm said it was planning 1,000 additional jobs at its Solihull plant in the West Midlands. Des Thurlby, Jaguar Land Rover HR director, said the 1,000 new jobs at Merseyside clearly demonstrated JLR's aim of continued growth. Source : 14-03-12 Hindu Business Line Compiled by Amresh Anjan Survey: Economy May Expand 7.6% In FY13 The Economic Survey said India was set to grow at 7.6 percent in fiscal 2013. The figure is higher than the estimate of 6.9 percent for 2011-12. The survey, presented in Parliament, said the global downturn, high domestic inflation and slow economic reforms led to the decline in India's economic growth. It estimated an 8.6 percent expansion for fiscal 2014, led by agriculture and an improvement in savings and investment rates. Agriculture and related services performed well this fiscal, growing at 2.5 percent. The services sector contributed the most to GDP at 59 percent, up from 50 percent in 2010-11. The industrial sector, however, contracted to 27 percent. Source : 15-03-12 Deccan Herald Compiled by Amresh Anjan Infosys To Hire 1,000 Engineers In R&D Infosys is planning to add 1,000 engineers in its product R&D centre in the next two years, doubling the headcount. The recruitments will be direct and not through any acquisition. The IT firm is ramping up its design and development offerings. Its long-term goal is to generate one-third of its revenues from product platforms and solutions. CFO V Balakrishnan said the company will try to create some dedicated R&D centres to develop these IT solutions. Currently, the R&D centre of Infosys has about 500 engineers and has undertaken more than 1,000 projects in the past couple of years. The IT/ITeS sector has been a major contributor to the job market. The Economic Survey said that in the 12 months to September 2011, IT/BPO accounted for 87 percent of growth in overall employment. Source : 17-03-12 Financial Chronicle Compiled by Amresh Anjan Abbott India Appoints MD Abbott India has named Rehan Khan managing director of the company for five years from May 15,. Current director Vivek Mohan is resigning to take over a global role in the Abbott Group Source : 17-03-12 Hindu Business Line Compiled by Amresh Anjan
|
No comments:
Post a Comment