Weekend newsEconomic times20thSept. to 26thSept. DeepinderKaurGrewal MBA 2C
#1. Tata Motors to launch Aria within a month, may price it Rs 10 lakh. Tata Motors will launch Aria a cross-over between a multi-utility and sports utility vehicle within a month. Unveiled at the Auto Expo and billed as a four-wheeler built for Indians by Indian engineers. Aria will compete with Toyota Innova and M&M's Xylo. The car is expected to be priced at about Rs 10 lakh. Aria would be launched within a month and the company is keen on cashing in on the festive season
Contt… Tata Motors plans to pack the vehicle with lot of features to take on utility vehicles like Innova, Scorpio, Bolero and Xylo. Tata Motors says that since it is going to be packed with features, they will really declare the price on the date of the launch. The Aria sports a 2.2-litre common rail diesel engine and blends the functionality and comfort of a mid-range MPV with the all-terrain assurance and premiumness of an SUV. Safety features include 6 airbags and Electronic Stability Program (ESP), offered by an Indian manufacturer for the first time. Tata Motors' current line up of SUVs and MUVs include Safari and Sumo Grande.
#2. Google chief sees Bing as main threat Google chief executive Eric Schmidt on Friday said that Microsoft's Bing search engine was the company's main threat, not Facebook or Apple. Bing is a well-run, highly competitive search engine. Microsoft's Bing and other Internet search services overtook Yahoo! for the first time to become the number two search engine in the United States in August. Google continued to dominate the lucrative search and advertising market with a 65.1 percent of all Internet searches in August.
Contt…… Microsoft last month began handling all Yahoo! online searches in Canada and the United States and will eventually power Internet searches at Yahoo! websites worldwide. Google could be improved by making features more social while providing users tools to manage their privacy.
#3. Commonwealth Games India's Shame. With 12 days to go for the Commonwealth Games, a gleaming new steeland-concrete suspension pedestrian overbridge came crashing down on Tuesday at the main event venue, JawaharLal Nehru Stadium. The disaster left at least 27 workers injured and heightened concerns about the safety of structures being readied in a mad rush for the October 3 opening. India has been shamed globally — by politicians and officials who have been exposed as callous and inept, and possibly corrupt. TOI has exposed several such cases to warn about the impending mess.
Contt…. But no one, not even the Union government, took them seriously. Apart from appointing some more committees, it did little. Now India stands humiliated. The world knows the bridges we build collapse; that we can’t even keep loos clean. Who is responsible for the national shame?
#4. Govtneutralises tax impact of 1stYrof DTC regime Government would bring Rs 55,000 crore worth revenue within the tax net through withdrawal of profit-linked tax exemptions. Once the DTC is in place, the profit-linked tax exemptions will go. With this, the revenue impact in the first year (2012 -13) of implementation of DTC will be marginally positive, as per projections made by the finance ministry .
Contt… The corporate tax rate would continue to be same at 30 per cent but surcharges and cess would be withdrawn. The surcharge and cess collection in 2010-11 is projected to be Rs 25,000 crore. From raising of income tax exemption from Rs 1.6 lakh to Rs 2 lakh, the government is expected to lose Rs 14,343 crore in 2012-13. Meanwhile, government's indirect tax collection in the first five months (April-August) of the current fiscal has gone up by 45 per cent And the direct tax collection has gone up 20 per cent over the corresponding period last year.
Contt… As part of the partial withdrawal of stimulus, the government raised excise duty on non-petroleum goods from 8 per cent to 10 per cent. Government has also increased excise duty on petrol and diesel and re-introduced 5 per cent customs duty on crude. Customs duty collection had jumped by 70 per cent in the first five months.
#5. Get ready for competition from India, China: Obama to kids US President Barack Obama has counselled American children to aim high as the country's success in the 21st century depends on them in the face of increasing competition from "Bangalore, India" and "Beijing, China" where students are "working harder than ever". And making sure you get that kind of education is going to take all of us working hand-in-hand. Nobody gets to write your destiny but you. Your future is in your hands. And I know that if hard work could make the difference for me, then it can make a difference for all of you.
#6. Soon, Airtel users can shop up to Rs 5000 via mobiles. BhartiAirtel customers will soon be able to make virtual payments at retail outlets and restaurants using their cell phones. The country’s largest telco by both revenues and customers has got the nod from the Reserve Bank of India (RBI) to collect a maximum of `5,000 from customers, which can be converted to virtual money stored on mobile phones, and can be used at outlets that have a tie-up with Airtel. All leading mobile phone companies are also slated to get the ‘semi-closed wallet’ licence over the next couple of months.
Contt…. Currently we are evaluating various options that this licence provides to find out how best we can create a value proposition for Airtel customers. It is imperative to design a safe & convenient deployment before we can take to the market.