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Panel proposes revenue-neutral GST rate at 23-25%
National Institute of Public Finance and Policy has calculated the revenue-neutral GST rate at 23-25%, which will be suggested to the Empowered Committee of State Finance Ministers for review. This rate will depend on whether India has one rate for all goods (if yes, then the rate will fall), or bracketed rates for different goods. Read on for more information about this development. (LiveMint)
No signs of economic prosperity for small & medium-sized firms
Data from the past few months shows that the economic recovery is hurting small and medium-sized firms the most, with many showing the worst results in the last 2 years. For these firms, net sales growth figures were the lowest. This is thought to be partly the result of slower release of payment from bigger industries leading to a cash crunch. (LiveMint)
The man behind the Indian Coffee Empire: Coffee Day
Read the story of VG Siddhartha, who has come a long way from harboring no capitalist ambitions in college to building the country's largest cafe chain. Cafe Coffee Day Ltd has moved from just being your neighbourhood cafe for teenagers to being a heavyweight in the market with its recent IPO making headlines. (Forbes India)