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On Slack: Better Off but Far Behind, Black Money, Brexit Parliamentary Vote, Broken Promises, Generic-Drug Probe, GST Rates and much more….

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The Slack Discussions

Slack Logo2The Slack group at Capital Mind Premium has been extremely active and if you haven’t been there (Premium subscribers only), pop us a note or login here using your premium credentials.

A brief summary of some of the interesting things discussed there in the last few days:

#general: Jobs growing in Bengaluru, Accenture its top employer: Data

The data show that nine out of the top ten professional tax payers in Bengaluru are technology companies. Only BSNL, is an exception. (Link)

#general: Banks cut lending and deposit rates

Top banks are transmitting the cut in monetary rates to retail lending rates. As a result, loans from banks are getting cheaper and their fixed deposits less appealing. (Link)

#general: Former TCS Chief’s Resignation From Government Posts Sparks Buzz

Former TCS chief S Ramadorai, a key official driving the government’s ambitious skill development agenda, has resigned from the posts of chairman of National Skill Development Agency (NSDA) and National Skill Development Corporation (NSDC). (Link)

#general: Broken Promises of Genetically Modified Crops

About 20 years ago, the United States and Canada began introducing genetic modifications in agriculture. Europe did not embrace the technology, yet it achieved increases in yield and decreases in pesticide use on a par with, or even better than, the United States, where genetically modified crops are widely grown. (Link)

#general: Government may disband National Pharmaceutical Pricing Authority

In a major overhaul of the country’s drug policy, the government is likely to soon disband the National Pharmaceutical Pricing Authority (NPPA) in its present form and assume the power to set prices of essential medicines, as it seeks to address concerns that excessive controls were stifling innovation and competitiveness of the sector. (Link)

#general: From May, refund for buyers if builders miss deadline

From May 1, 2017, all new house purchases will come with three commitments — a date of possession in writing, full refund of the amount paid with 10.9% interest in case of delay beyond the committed date of possession and interest for the delayed period, in case the buyer doesn’t want the refund. (Link)

#general: Black money: Benami Property Transactions Prohibition Act comes into force

The Benami Transactions (Prohibition) Amendment Act, 2016, designed to curb black money and passed by parliament in August, came into effect on Tuesday. (Link)

#fx-commodities: Oil Falls on ‘Most Bearish Report of All Time’

Crude-oil inventory surges the most in 34 years of data, extending selloff. (Link)

#general: GST rates: Centre, states reach broad consensus, another 40% slab to be added

The fourth meeting of the GST Council is underway as the states and the Centre look to resolve contentious issues to pave the way for implementation of GST from 1 April. (Link)

#stocks: ONGC, Cairn Face Rs. 730 Crore Service Tax On Royalty Payments

The government from this fiscal will levy service tax of about Rs. 730 crore on royalties they pay to the exchequer on oil and gas they produce. (Link)

#macronomics: Brexit Needs Parliamentary Vote, U.K. Court Rules

The British government must consult Parliament before proceeding with formal negotiations over its withdrawal from the European Union, the High Court ruled on Thursday, a move that is likely to aggravate the political uncertainty surrounding the country’s exit from the bloc. (Link)

#general: Top rate of GST likely to be 28 percent – state minister

India’s union and state governments are likely to approve four main tax slabs ranging from 5 to 28 percent under a proposed Goods and Services Tax (GST), the finance minister of Jammu & Kashmir said on Thursday. (Link)

#general: Changed Life of the Poor: Better Off, but Far Behind

(Link)

#stocks: U.S. Charges in Generic-Drug Probe to Be Filed by Year-End

U.S. prosecutors are bearing down on generic pharmaceutical companies in a sweeping criminal investigation into suspected price collusion, a fresh challenge for an industry that’s already reeling from public outrage over the spiraling costs of some medicines. (Link)