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Business Today


A leading business magazine read by the business leaders for staying ahead and managing challenges that comes right away in the ever changing world of business.

Living Media India Limited
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26 Issues


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the tyranny of debt

INDIA HAS a debt problem – at every level. The government’s official debt to GDP ratio has been rising. If you add the debt it has taken but kept off the balance sheet, the picture gets much worse. A big chunk of the debt now goes into servicing interest payments of the old debt. In a nutshell, the government is in a debt trap. What is worse, its borrowings are crowding out private sector borrowings, pushing up their cost of funds. The finance minister tried to fix this through a proposal that envisaged borrowing in foreign currency denominated bonds. The government has had a rethink after many eminent economists pointed out the dangers, which included exposing itself to foreign currency risk. After some weak attempts at defending the proposal, the…

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business today

http://www.businesstoday.in Editor-in-Chief: Aroon Purie Group Editorial Director: Raj Chengappa Editor: Prosenjit Datta Group Creative Editor: Nilanjan Das Group Photo Editor: Bandeep Singh Executive Editor: Anand Adhikari Deputy Editor: Naveen Kumar (Money Today) SPECIAL PROJECTS AND EVENTS Senior Editor: Anup Jayaram CORRESPONDENTS Senior Editors: P.B. Jayakumar, Nevin John, Goutam Das, Ajita Shashidhar, Joe C. Mathew, E. Kumar Sharma, Anilesh Mahajan Senior Associate Editors: Dipak Mondal, Manu Kaushik, Sumant Banerji Associate Editor: Nidhi Singal Assistant Editors: Sonal Khetarpal, Rukmini Rao, Renu Yadav (Money Today) RESEARCH Principal Research Analysts: Niti Kiran, Shivani Sharma COPY DESK Senior Editor: Mahesh Jagota Senior Associate Editor: Kaveri Nandan Associate Editor: Sanghamitra Mandal Chief Copy Editor: Gadadhar Padhy Copy Editor: Aprajita Sharma PHOTOGRAPHY Photo Editor: Reuben Singh Deputy Chief Photographers: Shekhar Ghosh, Rachit Goswami Senior Photo Researcher: Sudhansh Sharma ART Assistant Creative Editor: Safia Zahid Deputy Art Director: Amit Sharma Associate Art Director: Ajay Thakuri Assistant Art Director: Raj Verma Designer: Rajesh Singh Adhikari PRODUCTION Chief of Production: Harish Aggarwal Senior Production Coordinators:…

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STAY CONNECTED WITH US ON www.facebook.com/BusinessToday@BT_India Are Structural Weaknesses, Fundamental Shifts Slowing Indian Economy? Disruption by way of new technology and digitisation is making life difficult for well established businesses businesstoday.in/economy-disruption Decoding Mukesh Ambani’s First-Day-First-Show Business Model All eyes are on Jio’s First-Day-First-Show, which also may turn out to be a win-win for film-makers businesstoday.in/jio-firstdayfirstshow What Triggered “logout” Movement in Zomato vs Restaurants Fight The battle isn’t over yet. While most aggregators have agreed to limit discounting, Zomato is still reluctant businesstoday.in/logoutmovement-restaurants PERSPECTIVES No White Elephants Please! Where Not to Invest RBI Surplus of ₹1.76 lakh Crore Dumping money in sick state-run enterprises, recapitalising public sector banks, incentivising exports would not be prudent use of what used to be the RBI’s rainy-day reserves businesstoday.in/psb-rbi.surplus India Versus Africa – A Tale of Two Airtels The subscriber numbers are falling and customers are unwilling to pay more for…

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happy ending

THE FIGHT between the government and the Reserve Bank of India (RBI) over the latter’s surplus capital has had a happy ending, though after some casualties, as Governor Urjit Patel and his deputy Viral Acharya exited because of differences over many issues with the government, including transfer of capital. But the Bimal Jalan Committee has made it clear that the ₹7 lakh crore-plus revaluation reserves of the RBI cannot be touched. This is a big win for the RBI. The committee also recommended a slightly lower level of realised equity or contingency fund between 6.5 and 5.5 per cent of the balance sheet as against the current 6.8 per cent. What is surprising is that the RBI, which was fighting a few months back for its independence and also reserves,…

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unending ordeal

THE HIT AND TRIAL approach of the government towards implementation of the goods and services tax (GST) is taking its toll. Whether it is GST collections, compliance or systems, there is uncertainty over everything. The date for filing annual returns and GST audit for 2017/18 has again been extended – this time from 31 August to 30 November — due to ‘technical’ glitches. This exposes the inability of the GST Network to cope with the ever-fluid indirect tax regime. While the government would like us to believe that technical glitches are one of the main reasons for extension of the deadlines, the bigger issue, it seems is, taxpayers finding it difficult to reconcile returns with financial statements. As part of GST annual return and GST audit, taxpayers have to reconcile those returns…

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us entry with hooters

IN ITS FIRST purchase in the US, Softbank-backed Oyo Hotels and Homes has bought the Hooters Casino Hotel in Las Vegas. Oyo, along with Highgate, a US-based real estate investment and hospitality management company, reportedly shelled out nearly $135 million to buy this property on the Las Vegas strip. Hooters will be re-branded as Oyo Hotel and Casino. A few months ago, Oyo had announced it would invest $300 million in the US. Catering across several budget price points, Oyo now claims to be the third-largest hotel chain in the world. However, this six-year-old company is yet to be profitable. Valued at around $10 billion, founder Ritesh Agarwal recently bought back shares worth around $2 billion to significantly increase his stake in the company. An unprecedented transaction in the Indian…