"Our sense of LRS is that the expenses of students or relatives is certainly not going out of savings, such as fixed deposits, and medical and education has already been kept out.
These are discretionary spending coming out of taxable income and not from saving. The honest people are not losing anything," he said at a post-Budget interactive session by the Confederation of Indian Industries (CII).
This story is from the February 04, 2023 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the February 04, 2023 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Cost deflation lathers up for Lux, Lifebuoy
Unilever also flags pricing challenges in its fabric cleaning segment
Fintechs want simpler KYC for merchants
Fintech players are planning to suggest a minimal know-your-customer (KYC) process for small merchants, and a risk-based and graded approach to customer verification.
'Will strengthen our distribution in smaller towns to fuel growth'
Tata Consumer Products expects to see India growth portfolio grow at 30 per cent and expects margins to improve, says MD and CEO SUNIL D'SOUZA. In a video interview with Sharleen D'Souza, he talks about the firm now turning optimistic on rural demand. Edited excerpts:
Why future of cars does not look electrified
The Economist magazine, which calls itself a newspaper, is a venerable old institution.
Exporting services
India should sustain the momentum
A weak food chain
Recent controversy points to poor regulation
An agenda for next government
India's growth model needs a serious course correction
UNSC resolution on N-arms race in space meets Russia veto
The United States slammed Russia for vetoing a UN Security Council resolution on the Outer Space Treaty that put a legally-binding obligation that countries should not be putting weapons of mass destruction (WMD), including nuclear weapons, in orbit.
Meta projects weak revenue amid AI push
Facebook parent reported 27% revenue rise in first quarter
Over 282 mn faced acute hunger in 2023: UN
Gaza had the largest number of people facing famine
