ROBOT TAX
Budget 2024: How about a 'Robot Tax' in Budget? Economists pitch the idea for AI-hit jobs
Union Budget: Economists discussed the upcoming Budget with Finance Minister Nirmala Sitharaman, focusing on growth, fiscal policy, investment, private sector involvement, food inflation, and debt. Key topics included the impact of AI on employment, 'robot tax' proposal, IMF recommendations, challenges faced by developing countries in adapting to AI technology, and insights from Gita Gopinath.
View: Gotta get ready for the AI-ternative
The integration of AI, nano robotics, space tech, and battery tech is transforming industries and reshaping economic models. As digital workers replace human roles in areas like call centers and logistics, governments must address potential job losses. Suggested measures include reskilling programs, focusing on labor-intensive industries, and implementing universal basic income (UBI) to support displaced workers. This proactive approach will help manage the transition and harness the benefits of these groundbreaking technologies.
ABB India Q1 Results: Net profit jumps 87% to Rs 460 crore
During the quarter, consolidated revenues came in at Rs 3,080 crore, up 28% from Rs 2,411 crore in the year-ago period.
Exclusive: Startups under I-T scanner again; payments startups & processing charges
Indian startups are under scrutiny from the income-tax department over the funding that they’ve raised. This and more in today’s ETtech Morning Dispatch.
Elon Musk and Rishi Sunak chat China, killer robots and the meaning of life
Billionaire Elon Musk welcomed China's engagement on artificial intelligence safety and said he wanted to see Beijing aligned with Britain and the United States on the subject, speaking in London on Thursday alongside British Prime Minister Rishi Sunak.
Smallcap stock zooms over 18% after Vijay Kedia picks stake
Shares of Patel Engineering surged over 18% to Rs 17.9 after Kedia Securities, promoted by ace investor Vijay Kedia, bought 1 crore shares during the March quarter, giving it a 1.29% stake in the infrastructure and construction services company. Patel Engineering reported increased net sales of Rs 1,036.9 crore in Q3 FY2023 and made a net profit after tax of Rs 37.8 crore. Kedia publicly holds 17 stocks with a net worth of over Rs 818.8 crore, including Neuland Laboratories, Heritage Foods, and Atul Auto.
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Budget provides buffer from global challenges: Parameswaran Iyer
"With a continued focus on good governance, the budget aims to simplify systems with the help of initiatives such as Jan Vishwas Bill, which will enhance the reforms already taken under the Ease of Doing Business. More than 39,000 compliances have been removed and over 3,400 legal provisions decriminalised," Iyer said.
Budget 2023 Special
Union Finance Minister Nirmala Sitharaman on Wednesday announced a slew of measures to support the tech and startup ecosystem during Budget 2023. These include tax benefits for startups, higher allocation for IT ministry, extension of scope of DigiLocker, among other things. We’ve got you covered in this packed edition of the ETtech Morning Dispatch.
Kalaari MD Vani Kola bowled over by 'cute' AI-driven robots at Bengaluru airport
The googly-eyed robot that has a screen for its face resembles a standing kiosk.
The supply chain broke. Robots are supposed to help fix it.
The stakes are especially high for companies engaged in transporting goods. Their executives contend that the Great Supply Chain Disruption is largely the result of labor shortages.
How can India become a digital skills hub for the world?
By 2025, the demand for expertise in advanced technologies like AI, robots, and data science will be 20 times larger than the supply.
Beyond GST, how technology can enhance tax function outcomes
Several large organisations are also enabling technology in tax processes through managed tax services (where organisations are not keen to invest and maintain technology due to changing laws and regulations).
Time to forget RPA? Why Intelligent Automation companies can be real blue-chip investments
Globally, RPA has been the go-to tactical lever to reduce operating costs by automating rules-driven, error-prone manual processes
Crypto tax set to become law; Nykaa CEO’s wish for tech-savvy cofounder
The government was set to introduce the proposals – part of the Finance Bill – in the Lok Sabha on Thursday evening.
Disruptive fintech is dead, long live bank-fintech collaboration!
The key to the development of any economy is its financial system, and banks have been at the heart of it for centuries. Nothing in the immediate future is likely to change that. But the popular discourse appears to be the yudh between banks and fintechs. What is needed is a jugalbandi between banks, regulators and fintechs to produce a wider range of products, for customers.
ETtech Morning Dispatch on Feb. 3, 2021: Jeff Bezos to step down as Amazon CEO, Expanded 'Google Tax' in India
Jeff Bezos will step down as Amazon CEO later this year, to be replaced by AWS' Andy Jassy. Closer home, 'Google Tax' will now cover more foreign entities, and ADB is in talks to set up GIFT City's fintech hub. Here's a look at the top tech news to start your day.
Why Budget 2021 should make space for technology & robotics adoption
According to a recent study, the total number of jobs related to developing and deploying new technologies, like automation, AI and robotics-related applications, may grow to 20 to 50 million globally by 2030 and more than 375 million workers globally.
How to improve your investment portfolio performance in 2021
The year 2020 had much bad news due to Covid and other related events leading to dismissal performance of the investment portfolio. Here are tips on what can be done to improve the performance of your investment portfolio in 2021.
Robots once seen as job killers now protect workers from Covid
The impact of technology on employment has been a topic of anxiety and study for generations with mixed results. Cars didn’t kill trains, television didn’t end radio.
ABB tax ruling: Fee for Technical Services taxable only in the year of receipt under India-Germany tax treaty
As per the detail of the case Germany headquartered arm of ABB, the Swedish-Swiss multinational, had received some money for testing and inspection charges. These were categorised as FTS, but the company did not include this in the tax filings in the country.
EY and Automation Anywhere to bring RPA-based tax automation solutions
The RPA solutions are aimed to automate high volume tax compliance processes across various industry sectors.
India’s $5 trillion dream - go big or go home!
The government seems to have its ear to the ground and has taken into consideration the demands of the key stakeholder and players in the startup space.
The policy hack: What's stopping i(ndustrial)Robots
Chinese share in the robotic sales worldwide will be about 40% by 2019 according to International Federation of Robots.
Switzerland top choice for Indian IT companies in field of Robotics
Economists suggest that the world’s fourth socio-economic revolution might stem from this development as Switzerland has emerged as a serious competitor to California.
Modern day management mantra: Disrupt yourself first before someone disrupts the industry
The key mantra is to disrupt oneself before somebody else disrupts the industry. The only way to overcome the fear of future is to create the future.
New algorithm to teach robots human etiquettes
A person receiving that call would quickly try to silence the distracting phone, and whisper into the phone before going outside to continue the call in a normal voice.
Resistance is futile: China's conquest plan for robot industry
China plans to dominate the markets for AI, driver-less vehicles, etc. That would mean the loss of a huge number of jobs in many nations, including India.
What's wrong with Bill Gates' idea of taxing robots
Bill Gates is only one of many people in the tech world who have worried about automation and its threat to workers.
Robots that steal human jobs should pay taxes: Bill Gates
Gates said he believes that govts should tax cos' use of robots, as a way to at least temporarily slow the spread of automation and to fund other types of employment.
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