Wednesday, September 02
India is eyeing imposition of additional tax on tobacco products including cigarettes, pan masala and gutkha with the compensation cess under goods and services tax framework set to end. Finance minister Nirmala Sitharaman will on Monday move a new bill---the Health Security National Security Cess Bill, 2025 along with an amendment to the Central Excise Act to impose a new levy on these products in lieu of compensation cess so that the overall tax incidence on these products does not come down. The two bills were approved by the cabinet at its last meeting, people familiar with the development told ET. 125678918 While the latest bill seeks to introduce a new cess on pan masala, the amendment to the central excise act is expected to make way for raising duty on tobacco products such as c
While speaking to Zerodha co-founder Nikhil Kamath on the People by WTF podcast, Elon Musk predicted that work will become optional in the future due to rapid advancements in AI and robotics."My prediction is, in the future, working will be optional. They don't have to— I mean, look, obviously, people can play this back in 20 years and say, 'Look, Elon made this ridiculous prediction and it's not true.' But I think it will turn out to be true that, in less than 20 years, but maybe even as little as, I don't know, ten or 15 years, the advancements in AI and robotics will bring us to the point where working is optional," said Elon Musk while speaking to Kamath. "In the same way that, like, say, you can grow your own vegetables in your garden or you could go to the store and buy vegetables
China's factory activity shrank for an eighth month in November while services activity cooled, highlighting the dilemma facing policymakers over whether to press ahead with tough structural reforms or roll out more stimulus to lift domestic demand.The manufacturing purchasing managers' index (PMI) rose to 49.2 in November from 49.0 in October, the National Bureau of Statistics' survey showed on Sunday, remaining below the 50-point mark separating growth from contraction. It was in line with analysts' forecast of 49.2 in a Reuters poll.Sub-indexes of new orders and new export orders both improved from October, but were still below 50.The data reflects manufacturers' difficulty in sustaining a post-COVID recovery, compounded by a trade war with the U.S. that has ramped up pressure on busine
