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Bullish on 3 themes; expecting broad-based earnings growth: Rajesh Kothari SECTIONS Last Updated: Mar 01, 2021, 07:58 PM IST Share Synopsis Auto ancillaries, specialty chemicals and capital goods are the three themes the CIO, Alfaccurate Advisors, is very positive on. Related In Q3, your portfolio companies have posted a 16% growth on the top line, margins have expanded and profitability is very healthy. What kind of numbers have you worked on for your portfolio for FY21 and what kind of earnings growth do you expect for FY22 & FY23? This time it is going to be a very broad-based earnings growth recovery. The entire market aggregate as well the third quarter was contributed by a number of sectors. This is unlike the last 2-5 years where growth was contributed by only one or two or three sectors. ....
The number of ultra-high networth individuals (UHNWIs) – those with $30 million or more – is likely to rise 63 per cent in India in the next five years to 11,198 in 2025, predicts the Knight Frank Wealth Report 2021. The pace of growth back home is far higher as compared to the 27 per cent rise in their population globally at 663,483 during this period. The billionaires club in India, according to Knight Frank, is expected to increase significantly by 43 per cent to 162 by 2025 from the current 113 in 2020. The growth has outpaced global average growth of 24 per cent and Asia average of 38 per cent during this period. In the regional context, Asia is likely to see the highest rise in the number of UHNWIs with the estimated growth of 39 per cent. Among countries, this growth will be by Indonesia (67 per cent) and India (63 per cent). ....
Rebooting Economy 68: How private wealth creators are serving Indian economy and people Private wealth creators are solely responsible for India s banking stress; increasingly fleeing India with their wealth and bank loans, and those making huge profits are doing so by cutting jobs and wages Prasanna Mohanty | February 21, 2021 | Updated 21:52 IST There is no evidence that private sector wealth creators are more efficient in running business, creating wealth or distributing wealth Political theories masquerading as sound economics (free-market rhetoric better known as Thatcherism and Reaganism) are back with a bang. Statements like government has no business to be in business or that wealth creators (in private sector) are important for India, only then can wealth be distributed, and jobs be generated are hitting the headlines again. ....
The proposed tax on PF incomes has its logic, but operational details need a revisit Finance Minister Nirmala Sitharaman has stressed that Budget 2021-22 raises resources to push the economy without increased taxation. However, one change to the income tax law proposed in the Finance Bill, 2021, has triggered anxieties for the salaried class: withdrawing tax exemption on interest income accrued into Provident Fund accounts arising out of employee contributions exceeding ₹2.5 lakh ‘in a previous year in that fund,’ on or after April 1, 2021. The rationale some employees are contributing huge amounts into their PF accounts and getting tax-free incomes. Subsequently, the Revenue Department has pointed out the tax will only affect a small group of ‘high net-worth individuals’ (HNIs); the 100 largest employees’ PF (EPF) accounts had a combined balance of over ₹2,000 crore. It can be no one’s case that a social security scheme for formal sector workers should beco ....