Cover Story
- You can bet on better days ahead because when the global economy came tumbling down in the second half of 2008, the government shielded us with a double-barrel dose of higher spending and lower taxes - both of which ensured that consumption, and therefore domestic demand, did not fall. Today the recession is in retreat the world over, production, investment and job creation in India Inc. have revived and household spending shows no sign of slack. Here's is your visual journey into the economy you live in.
- How Budget 2010, the new Direct Tax Code and the GST are set to change the economic life of every Indian.
- The Finance Minister had risked it all on his bet on growth and seems to have come up a winner. Now comes the task of restoring normality in finances and speeding up reforms.
- In recent years, the govt had to impoverish itself to make the economy prosper. The 13th Finance Commission suggests ways to keep both the government and the people prosperous-forever.
- The Goods and Services Tax will transform how taxes are paid and collected. Designed and implemented right, it will change the face of Indian economy.
- The Direct Tax Code wants us to give up all tax exemptions in exchange for lower tax rates and easier compliance. The government gets a larger income tax base and the taxpayer a lower rate.
From the Editor
Nirmal runs an electronics repair shop in Delhi. A migrant from Jharkhand, he wanted the Union Budget to deliver better education for his children, more low-cost housing and better access to loans for small businessmen like him. Deloitte's mission Asia-Pacific
Global consulting firm Deloitte is busy expanding its business into new geographies and segments. CEO James Quigley shared his vision for the company with BT's Kushan Mitra."We were wrongly priced and wrongly positioned"
Chairman of UK retail giant Marks and Spencer, Sir Stuart Rose has aggressive plans for India, where the retailer operates through a joint venture with Reliance Retail. "India would be held back by the inadequacy of its basic education. It could be held back by inefficiencies in its bureaucracy, in the way it’s administered"— Niall A. Ferguson, Professor of History, Harvard University, in NDTV’s Walk The Talk show The iconis Maruti 800 is in its last lap. With carmaker Maruti Suzuki deciding not to sell the model anymore in the top 13 cities of the country, the car that middle-class India steered for over 26 years is set to be mothballed. Globally, car recalls to rectify defects are commonplace. In India, it's still a novelty because of the effete regulatory framework that is supposed to protect consumers. The leadership style of Indian executives is radically different from their American counterparts, reveals a study. The computer maker is riding a strong growth wave in India.Now, salt with the double edge
After iodine, iron is set to be the next big additive in table salt. While the device may not set the streets alight with its rather basic configuration at a retail price of Rs 4,700, it is not what one would call expensive. At a fest organised in Hyderabad late February by Ashoka-The Lemelson Foundation, the world's most respected social entrepreneur grouping, two Indians and a Nepali shone. When Shah Rukh Khan was assisted into a bathtub by Bollywood's leading ladies for a Lux advert, his fans demurred and many an eyebrow was raised. In a move that could increase transparency and efficiency in loan pricing, the Reserve Bank of India (RBI) has proposed that all loans be priced off a base rate as against the current practice of linking them to the so-called benchmark prime lending rate (BPLR). Riding out of the sunset
From the humble moped, to the then-trendy gearless scooter, to supplying critical components for the Tata Nano, the Kinetic Group has survived rapid changes and intense competition by reinventing itself. London has seen more economic downturns than any other city — after all, it's the capital of the world's first industrialised nation. How is the city coping with the impact of the worst recession in its history? Shalini S. Dagar went there to find out. New highways and consumer preference for comfort are powering demand for these new buses. But will prohibitive pricing and a stronger railway network crimp growth?"Indian IT is in the midst of a radical re-invention"
The Indian IT companies are in the midst of a radical transformation as they move away from being software vendors to partners of their clients, a recent BT-Nasscom discussion finds. Through a unique participative endeavour, Kerala has made its second-most backward district the first in the country to be fully electrified. Starting at the peak of the global financial crisis, India's first agribusiness fund has done some smart deals in the food business. Dr Reddy's Labs has learnt plenty from a global acquisition that went spectacularly awry. Just one of those lessons: Build depth before breadth. Industrial production may be up smartly, but with some crucial sectors still languishing, a full-fledged recovery may be some time away. Rice production is going to be lower by 12 million tonnes and coarse cereals by six million tonnes in the current fiscal. ...And a number of foreign majors, domestic firms and private equity investors are keen to ensure that more and more of it can be used. Tiny, stand-alone power plants are powering village after village in India with rural folk willing to pay what it takes for assured electricity. Ten years ago this month, the dotcom bust began, burning trillions of dollars and millions of dreams. BT asks two entrepreneurs who were there for the lessons they learnt. Leaderspeak: Ravi Venkatesan
Here are excerpts of a small Q&A with Ravi Venkatesan, Chairman, Microsoft Corp. (India). Here's a look at the people, places and products doing the rounds these days. Staying cool helps you to work better and live healthier.
Photo phixers
Digital photography overloading you and your computer? Google's latest iteration of Picasa should be able to help you. The hidden devil in your investment
Inflation is the hydra-headed monster that feeds on not only your income but also your investments. BT shows you how. Young blood takes charge
What I find most emblematic of Gen Next:The New Inheritors (BT cover, March 7) is their passion for finding new purpose and their enthusiasm for redrawing the profiles of their family-run businesses. BT-Ernst and Young deal watch
Germany-based MHM Holding (MHM) has proposed the acquisition and subsequent delisting of Micro Inks' fully-paid equity shares. Riches from rags
Few disagree today that the next big fortune lies at the bottom of the pyramid. Here are lessons on how some early movers are getting to it. A water purifier manufacturer forms an NGO to supply clean drinking water at 17 paise a litre in 55 Andhra Pradesh villages. This is just the beginning. A Bangalore-based speciality cancer hospital leans on its hub-and-spoke model to grow scale. And, yes, it offers interest-free EMI options, too. Indian School Finance Company gives well-performing small schools funds to bulk up. If the model spreads, the social impact could be enormous. Harsha Moily is building an independent supply chain infrastructure that could be the biggest such road to rural Indian markets and consumers. A hospital chain in Karnataka wants to do to health care what Air Deccan did to aviation. Its early steps are encouraging. Keeping its eye focussed on affordability, ReaMetrix starts its journey into a $40-bn diagnostics market. Its new products will decide how big a splash it can make. A nifty medical device combined with a non-profit group powers telemedicine in UP and MP. Wimax and 3G networks could be the big game changer for Neurosynaptic. There is nothing less powerful than an idea whose time has not come
Budget speech on 28th February, Friday, 2014. Nuggets for entrepreneurs
The book does a great job of explaining the intricacies of the venture capital sector to various stakeholders. 
