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Push for artificial intelligence: India is turning from man to machines to get its economic data right
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Push for artificial intelligence: India is turning from man to machines to get its economic data rightBy Vrishti Beniwal, Bloomberg
Last Updated: Jan 28, 2021, 08:25 AM IST
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The Ministry of Statistics is ramping up use of artificial intelligence for collecting, analyzing and reporting data to better monitor the economy. The measures include a $60 million program with World Bank help using an information portal that collates real-time data.
India is turning from man to machines to improve the quality and speed of its economic data, which has been criticized as inadequate, delayed or even confusing due to sharp and unexpected revisions.
Aditya Birla Fashion and Retail to buy 51% stake in Sabyasachi for Rs 398 crore
Sabyasachi had FY20 revenues of Rs 274 crore and Aditya Birla Fashion and Retail Ltd paid Rs 398 crore for the stake purchase.
Designer Sabyasachi Mukherjee. (Image: Twitter @SabyaOfficial)
Aditya Birla Fashion and Retail Ltd (ABFRL) has entered a strategic partnership with India’s largest designer brand Sabyasachi by signing a definitive agreement for acquiring 51 percent stake in the brand, the leading fashion company announced on January 27.
Sabyasachi had FY20 revenues of Rs 274 crore and ABFRL paid Rs 398 crore for the stake purchase.
In a disclosure to the exchanges, the Aditya Birla group firm said, “Sabyasachi is India’s largest and most influential luxury designer brand with strong Indian roots and global appeal. The brand straddles categories such as apparel, accessories and jewellery and has a strong franchise in India, US, UK and the Middle East. The ABFRL platform will complement b
Aditya Birla Fashion and Retail Limited to acquire 51% in Sabyasachi Couture
Posted On: 2021-01-27 07:37:13 (Time Zone: Arizona, USA)
India s leading fashion company, Aditya Birla Fashion and Retail Limited has announced a strategic partnership with India s largest designer brand Sabyasachi by signing a definitive agreement for acquiring 51% stake in Sabyasachi brand.
Sabyasachi is India s largest and most influential luxury designer brand with strong Indian roots and global appeal. The brand straddles categories such as apparel, accessories and jewelry and has a strong franchise in India, US, UK and the Middle East. The ABFRL platform will complement brand Sabyasachi on its journey to becoming a global luxury house out of India.
Budget 2021: Expect wild card entry on NRI residential status
In case of no relaxation in residential status, NRIs would have to pay advance tax to avoid penal interest
The non-resident Indians (NRIs) stuck in India during COVID-19 lockdown are a worried lot. As they take stock of their residential status for the financial year 2020-21, they expect a relief from the government on residency rules.
In order to determine the tax liability in India for those settled abroad, first we need to check their residency status for a particular financial year. A non-resident Indian may qualify as an Indian resident for tax purposes if she meets one of the following two conditions - i) stay in India for a year is 182 days or more or ii) stay in India for the immediately four preceding years is 365 days or more and 60 days or more in the relevant financial year.