Tamil Nadu Budget 2018: Package for STUs, all old buses to be replaced

Rs 27 bn allocated to transport department, including Rs 7.99 bn as subsidy for free bus passes to students, senior citizens.

tamil nadu

Business News : Looking to revive its debt-ridden public transport system, the Tamil Nadu government is in the process of converting the existing debt of Rs 30.01 billion into share capital assistance and replacing all old buses in use for more than 10 years with new ones. The state government, however, has not mentioned alternative fuels or hybrid buses in its Budget proposals for the year 2018-19.

In 2018-19, the state government shall infuse a share capital of Rs 6 billion into the State Transport Undertakings (STUs) for purchasing and inducting 3,000 new buses. This, along with the 2,000 new buses sanctioned during 2017-18, will lead to the replacement of all 4,593 old buses in use for over a decade.

The general price hike and increase in salary costs have adversely affected operations of the STUs. In 2017-18, the state government released Rs 25.19 billion as ‘special ways and means advance’ to STUs to tide over their severe financial stress, settle retirement benefits of pensioners, give pending dues to existing employees and compensation dues to victims of road accidents.

This was in addition to Rs 13.64 billion released as diesel subsidy, senior citizen subsidy, student concession subsidy and share capital assistance provided in the Budget Estimates 2017-2018.

As a one-time measure, the government is providing a ‘ways and means advance’ of Rs 9 billion in the current Budget to the STUs. An amount of Rs 27.17 billion has been allocated for the transport department, which includes Rs 7.99 billion as subsidy for free bus passes to students and senior citizens, said the government.

→ Tamil Nadu Budget 2018  ←



Xiaomi Redmi 5 vs Micromax Bharat 5 Pro: Who wins value-for-money battle?

The Bharat 5 Pro is primarily a battery-centric smartphone, whereas the Redmi 5 shows some strength in every vertical.

Xiaomi Redmi 5 vs Micromax Bharat 5 Pro

Technology News : China-based smartphone manufacturer Xiaomi on March 14 announced the Redmi 5 in India. On the same day, home-grown electronics company Micromax announced a new budget offering, the Bharat 5 Pro. Both the smartphones compete in the same price segment of sub-Rs 10,000.

While the Redmi 5 offers a modern look because of its futuristic 18:9 aspect ratio screen, the Bharat 5 Pro centres around the battery. Business Standard compared the Micromax Bharat 5 Pro and the Xiaomi Redmi 5 on ke parameters, and here is what we found:

Where the Redmi 5 is ahead of Bharat 5 Pro

  • The Redmi 5 looks similar to the recently launched the Redmi Note 5. The smartphone looks modern with its 5.7-inch 18:9 aspect ratio HD screen. The metallic chassis looks plush and the form factor is better than most of the budget smartphones, except the Huawei Honor devices.
  • In terms of performance, the Redmi 5 uses better innards with three RAM and storage options to choose — 2GB/16GB, 3GB/32GB and 4GB/64GB. The Redmi 5 features MIUI 9, which is an optimised Android Nougat-based operating system.
  • It runs smoother and offers a lot of features and customisations in comparison with the unknown Android Nougat-based skin that the Bharat 5 Pro boots.

Where the Bharat 5 Pro beats Redmi 5

  • The Bharat 5A is primarily a battery-centric smartphone. It is equipped with a 5,000 mAh battery, which is good 1,700 mAh more than what the Redmi 5 offers. Interestingly, the mammoth battery doubles up as a power bank to charge other devices using a USB OTG cable; that is a major add-on for a budget smartphone. In terms of features and specifications, the Bharat 5 Pro comes with just one RAM and storage variant i.e. 3GB/32GB. However, it is more than what the Xiaomi is offering in the Redmi 5 base model (2GB/16GB).

Micromax Bharat 5 Pro Price , Xiaomi Redmi 5 Price ←


Made a mistake while filing tax returns? Here’s how you can fix it

While filing these returns, there is always the possibility of an unintentional or arithmetic error or an omission of details creeping into the return.

income tax

Income Tax News : Every individual whose income exceeds the basic exemption limit of Rs 250,000 must file an income tax return. This limit is Rs 300,000 for those who are older than 60 years but less than 80 years, and Rs 500,000 for those who are more than 80 years old.

While filing these returns, there is always the possibility of an unintentional or arithmetic error or an omission of details creeping into the return. This could be because of lack of taxpayer’s knowledge in tax laws or can be attributed to insufficient information while filing the return.

In such a case, does the income tax law provide for correction of such mistakes? Yes, Income tax law does have a provision for correcting or rectifying such errors. This can be done by filing a revised return.

Revising the return of income

As per the law as it stands today, from the Assessment Year (AY) 2018-19, a return of income filed within the due date i.e. the original return of income (generally 31 July for individuals) or a return filed after the due date called the belated return, can be revised if a taxpayer discovers any omission or wrong statement in the return filed. Such revision has to be done before the end of the assessment year for which return was filed. For example, if a revision is required to be done for a return filed for Assessment Year 2018-19, such revision can be done anytime on or before 31 March 2019.

However, for returns filed prior to AY 2018-19, one has a time limit of 1 whole year form the end of an AY to file a revised return i.e for AY 2017-18 and prior years, a revised return could be filed anytime on or before 31 March 2019.

Another significant point to be noted is that the facility to revise a return filed late(belated return), is available only from AY 2017-18 onwards prior to which this was not possible.

Filing Tax Returns Mistake

JLR unveils XE, XF sedans in India with new light-weight petrol engine

The Ingenium petrol engines use JLR’s low friction all-aluminium-intensive design to provide excellent thermal properties.


Jaguar Land Rover has introduced the Jaguar XE and Jaguar XF with its very own all aluminium Ingenium petrol engines.

Jaguar XE and XF gets 147 kW and 184 kW variant of the 2.0 l (litre) powertrain. Jaguar XE Ingenium petrol starts from Rs 35.99 Lakh while the Jaguar XF Ingenium petrol starts from Rs 49.80 Lakh

The company claims, lightweight aluminium petrol engines deliver improved efficiency, lower running costs and enhanced performance.

Rohit Suri, president & MD, Jaguar Land Rover India Ltd. (JLRIL), said, “The Jaguar XE and XF have done tremendously well in India and with the entry of the refined and efficient Ingenium petrol powertrain on our award winning sedans, we expect more customers to enjoy the thrilling drive experience these two cars offer.”

The new 2.0 l (litre) Ingenium petrol motor is mated to an 8-Speed Electronic Automatic Transmission with Jaguar Sequential ShiftTM and All Surface Progress Control.

The new petrol units deploy twin scroll turbos to reduce lag, optimising power output and efficiency. Continuously Variable Valve Lift technology improves air delivery to both engines. This patented technology provides fully variable control of the intake valve lift for optimum efficiency, power and torque across the rev range.

The 147 kW powertrain is offered on the XE Pure and Prestige as well as the XF Prestige, while the 184 kW powertrain is offered on the XE Portfolio and XF Portfolio.

→  Jaguar XE Features , Jaguar XF Features  ←

Indian football team climbs 3 spots to re-enter top-100 in FIFA rankings

India gained six points from their February rating points 333 to make the three-spot leap.

India Football Team.jpg

Sports News : The Indian football team jumped three places to 99 in the latest FIFA ranking for the month of February released on Thursday.

The Stephen Constantine-coached side will take on Kyrgyz Republic in a 2019 AFC Asian Cup qualifying match on March 27 at the Dolon Omurzakov Stadium in Bishkek.

India have already booked their berth in the Asian Cup after a gap of 27 years.

India are yet to play in 2018, having last featured in a 2-2 draw against Myanmar in the return-leg match of the AFC Asian Cup qualifying Group A match last November.

India gained six points from their February rating points (333) to make the three-spot leap.

After being ranked 14th in the Asian confederation in February, India made a one-spot leap in that regard while Iran continues to lead the way in the continent.

→ Indian Football team  ←

Bandhan Bank’s Rs 44-bn IPO opens: Expert views on why you should subscribe

The private sector lender is expected to raise Rs 44.13 billion at the lower and Rs 44.73 billion at the upper end of the price band.

bandhan bank

IPO News : The Bandhan Bank initial public offering (IPO) opened for subscription on Thursday, at a price band of Rs 370-375 a share. The issue will close on March 19.

The private sector lender is expected to raise Rs 44.13 billion at the lower and Rs 44.73 billion at the upper end of the price band. The bank has put on offer up to 119,280,494 equity shares, including a fresh issue of up to 97,663,910 equity shares.

The IPO also consists of an offer for sale of up to 14,050,780 equity shares by IFC and up to 7,565,804 equity shares by IFC FIG. Bids can be made for a minimum lot of 40 shares and in multiples of 40 shares thereafter.

Kotak Mahindra Capital Company, Axis Capital, Goldman Sachs (India) Securities, JM Financial and JP Morgan India are book running lead managers to the issue. Karvy Computershare is the registrar to the issue.

Should you subscribe to the Bandhan Bank IPO? Here’s what some brokerages recommend:

IIFL – Bandhan Bank was able to ride the recent MFI crisis smoothly unlike NBFC-MFIs. So in the current form, it is a robust and resilient micro loan financier with great growth prospects. The bank would likely be able to sustain RoA and RoE near the 4% and 25% mark respectively. We believe long term investors would find post-money valuation at 4.8x P/BV reasonably attractive. A comparable benchmark for valuation would be the recent IndusInd Bank-Bharat Fin transaction wherein the former valued the latter at ~5.2x FY18 P/BV.

Centrum Broking  – The bank will be able to attract adequate investor interest. Further, the bank is expected to benefit largely from financialisation of household investments especially in the rural & underbanked areas, vast branch network and presence in high growth segments of micro lending, retail and SME banking. Given the high valuations, investors can subscribe to the issue from a long term perspective. It must be noted that since the issue is being offered at expensive valuation, listing gains may be capped.

↓ More Expert Views on ↓

Bandhan Bank IPO , ICICI Securities IPO 

Moto Z2 Force : Drop as much as you want, this smartphone won’t break

Durable build, top-tier innards and compatibility with MotoMods make the Moto Z2 Force a power-packed smartphone and a rival to OnePlus 5T, Nokia 8 and Xiaomi Mi Mix 2 in sub-Rs 35,000 price segment.

Moto Z2 Force.jpg

Technology News : The mid-tier flagship segment in India’s smartphone market is a rather unchartered territory – for want of competition, OnePlus has had a free run here with its feature-rich smartphones with top-tier specifications. However, the new Moto Z2 Force, from the house of Lenovo-owned Motorola, looks set to end that monopoly.

With top-tier innards, packed inside a premium shell made of premium 7000-series aluminium, the Moto Z2 Force has a metal unibody back that looks plush. But the protruding camera, 16-pin connector for MotoMods and grey antenna lines on edges look a little out of place.

The front is dominated by a 5.5-inch quadHD plastic-OLED screen covered by a shatterproof five-layer glass that is durable enough to take accidental hits without any damage to the screen. However, the flip side of having plastic properties covering the protection glass is that the smartphone scratches easily. For a 2018 flagship, the phone features an outdated 16:9 aspect ratio screen, which leaves huge bezels on the top and bottom.

There is a fingerprint scanner placed in the bottom bezel area. It supports gesture-based navigation and actions but does not work as a default home button. What this means is that the fingerprint scanner button can be tweaked to trigger certain actions like twist for the camera, slide for flashlight, etc, but it does not bring you back to home screen like other smartphones.

Coming to the operating system and user interface, the Moto Z2 Force boots Android 8.0 Oreo out-of-the-box with no bloatware installed.

The user interface offers vanilla Android experience, which is smooth throughout and shows no sign of lag or stutter, thanks to a proper optimisation.

The Z2 Force features Qualcomm Snapdragon 835 system-on-chip (SoC), coupled with 6GB RAM and 64GB internal storage. There is a dual hybrid SIM slot, which supports microSD card up to 2TB.

Moto Z2 Force Features , Moto Z2 Force Price ←

Acer launches ‘Swift 5’ laptop in India with 14.9 mm thickness at Rs 79,999

The laptop is 14.9-mm thin and sports a 14-inch FHD display with narrow bezels and Acer “Color Intelligence” technology.

Swift 5.jpg

Technology News : Expanding its popular “Swift” series, Taiwanese hardware and electronics brand Acer on Wednesday launched “Swift 5” in India for a starting price of Rs 79,999.

Weighing only 970 grams, the device features 8th-Generation Intel Core processor and will be available at Acer exclusive stores and other retailers, the company said in a statement.

“We are ecstatic with the newest addition ‘Swift 5’ to our range of ‘Swift’ series laptops in India. This is another record breaker by being one of the lightest laptops at 970 grams,” said Chandrahas Panigrahi, CMO and Consumer Business Head, Acer India.

The laptop is 14.9-mm thin and sports a 14-inch FHD display with narrow bezels and Acer “Color Intelligence” technology that optimises screen colour, brightness and saturation.

It also has Acer “TrueHarmony” with Dolby Audio Premium technology that provides powerful audio while Skype for Business certification ensures video conferencing and Cortana integration.

The device runs Windows 10 platform and comes with 8GB DDR4 RAM, 512GB SDD storage and battery back-up of up to eight hours.

Know more about → Acer Swift 5 Laptop 

In 30 minutes Lok Sabha clears Finance bill, 218 amendments without debate

The bills were the contentious Finance Bill, 2018, and the Appropriation Bill, 2018.

finance bill

Business News : In 30 minutes on March 13, 2018, Parliament’s lower house, the Lok Sabha, passed without debate funding demands from 99 Indian government ministries and departments, including two bills and 218 amendments.

As many opposition members of Parliament (MPs) protested, Sumitra Mahajan, speaker of the Lok Sabha–controlled by the Bharatiya Janata Party (BJP)–used a parliamentary procedure called the “guillotine”, which empowers her to pass grants without discussion.

Among the demands passed:

  • Controversial foreign funding to political parties, which will allow them to escape scrutiny with retrospective effect for 42 years.
  • Salary hikes for members of parliament, the president, and state governors.
  • An Appropriation Bill passed by voice vote on March 14, 2018, which allows govt to draw Rs 80,000 crore from the Consolidated Fund of India (Rs 57 lakh crore), the government’s total revenue.
  • A long-term capital gains tax, which has received mixed reactions since it was announced in February. Investors will now have to pay 10% tax on profits from shares sold, even if they have had these shares for more than a year.

The bills were the contentious Finance Bill, 2018, and the Appropriation Bill, 2018.

No bills had passed over the last eight days, with the Opposition protesting the Rs 11,000-crore Punjab National Bank scam, special compensation packages for Andhra Pradesh and Telangana, and defacement of the Periyar statue in Tamil Nadu.

On Wednesday afternoon at 12.35pm, speaker Sumitra Mahajan applied the guillotine to pass the budget 2018 in time for the new financial year, which starts on April 1, 2018. At the start of the week, the BJP had issued a three-day whip to its members to be present in the House. The BJP-led National Democratic Alliance government holds an absolute majority in the Lok Sabha.

More on  → Finance Bill 2018

Stephen Hawking dies at 76: A Brief History of (his) Time, his predictions

Stephen Hawking, physicist and author of A Brief History of Time passes away at 76, said his family members in a statement.

Stephen Hawking

International News : On March 14,2017 Hawking passed away, aged 76. His family released a statement in the early hours of Wednesday, confirming his death at his home in Cambridge.

As reported by British media, Hawking’s children, Lucy, Robert and Tim said in a statement, “We are deeply saddened that our beloved father passed away today. He was a great scientist and an extraordinary man whose work and legacy will live on for many years. His courage and persistence with his brilliance and humour inspired people across the world. He once said, ‘It would not be much of a universe if it wasn’t home to the people you love. We will miss him for ever.”

The renowned and highly respected Hawking was an English theoretical physicist, cosmologist and author among other designations.

Hawking’s masterpeice The Brief History of Time, one of the iconic books of the 20th century, talks of mysteries of space, time and black holes. Tracing his development as a thinker, he explained how the prospect of an early death urged him through numerous intellectual breakthroughs.

Born on January 8, 1942, the famous theoretical physicist suffered from amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig’s disease, and was confined to an electric wheelchair for much of his adult life. Diagnosed at age 21, he was one of the world’s longest survivors of ALS. The illness left him wheelchair-bound and largely unable to speak except through a voice synthesiser.

“At the time, I thought my life was over and that I would never realise the potential I felt I had. But now, 50 years later, I can be quietly satisfied with my life,” he wrote in his 2013 memoir My Brief History.

A Cambridge University professor, Hawking was the first to propound a theory of cosmology explained through a union of the general theory of relativity and quantum mechanics. He also showed that the universe had a beginning by describing how Albert Einstein’s theory of general relativity eventually breaks down when time and space are traced back to the Big Bang and end in black holes.

Hawking’s work was also the subject of the 2014 film The Theory Of Everything, which starred Eddie Redmayne and Felicity Jones.

Read More → Stephen Hawking