Bussiness

Zomato CEO Deepinder Goyal has announced a unique job opportunity for a Chief of Staff position at the company’s Gurugram headquarters. The role comes with an unconventional condition: no salary in the first year and a requirement for the candidate to pay Rs 20 lakh, which will be donated to Feeding India, Zomato’s non-profit. Goyal clarified that the role is for those who want to learn and grow rather than pursue financial perks. From the second year onwards, the selected candidate will receive a competitive salary exceeding Rs 50 lakh annually.

The Telangana government has introduced a 100% exemption on road tax and registration fees for electric vehicles (EVs) to promote eco-friendly transportation and reduce urban air pollution. The policy, effective until December 31, 2026, covers a range of EVs, including two-wheelers, four-wheelers, three-wheelers, electric buses, and light goods carriers. Special provisions are made for electric buses, with indefinite exemptions for those operated by the Telangana State Road Transport Corporation (TSRTC) and private companies using buses for employee transport. This initiative aims to make EVs more affordable and support the state's sustainability goals.

The number of taxpayers earning over ₹1 crore has surged by 323% from 82,836 in 2013-14 to 3,50,129 in 2023-24, signaling the success of the government's efforts to widen the tax base. Meanwhile, the total number of income-tax assesses has increased by 120% over the past decade to 7.92 crore. Significant growth has also been seen in higher income brackets, with taxpayers earning between ₹50 lakh and ₹1 crore rising by 440%. Thanks to improved compliance and anti-tax evasion measures, the burden on middle-class taxpayers has eased, with the average tax paid by those in the ₹10-15 lakh and ₹15-20 lakh income brackets significantly reduced. The number of zero-income tax return filers has also grown substantially, from 18 million in 2014 to 49 million in 2024.

Following Donald Trump’s election victory, markets have rallied, driven by expectations that his second term will be supportive of the crypto industry and business-friendly policies. Bitcoin soared to a new all-time high, surpassing $82,500, while the U.S. dollar strengthened to a four-month high. Tesla shares jumped 8.4%, pushing its market capitalization past $1 trillion. Investors are betting on lighter regulation and pro-growth policies under a Trump administration, with cryptocurrency exchanges like Coinbase and brokers such as Robinhood also seeing significant gains. The Mexican peso, however, declined 1.3% against the dollar, reflecting concerns over potential shifts in U.S.-Mexico trade relations.

The Group of Ministers (GoM) for GST rate rationalization has announced a reduction in the GST on 20-litre packaged drinking water bottles, bicycles, and exercise notebooks from 18% to 5%. This change aims to make essential goods more affordable. Conversely, taxes on luxury items such as high-end wristwatches over ₹25,000 and shoes over ₹15,000 will increase from 18% to 28%. The adjustments are projected to generate an additional revenue of ₹22,000 crore. The GoM, formed to address specific GST issues, includes key state finance ministers and is responding to a decline in the average GST rate below the revenue-neutral threshold of 15.3%.