Economic boost
The estimated ₹5,000 crore spent at the Ambani wedding has injected a significant amount of money into the economy, circulating funds that were otherwise sitting idle in bank accounts.
This grand expenditure isn’t just about extravagance. It’s a textbook example of how high spending can have a ripple effect on the economy, boosting various sectors from hospitality to retail.
Critics may frown at this display of wealth, but the truth is, such spending sprees fuel our consumption-driven economy. It’s a reminder of capitalism’s core: businesses thrive because of consumer demand. While we must balance consumption with sustainability, there’s no denying that events like these give a substantial boost to GDP.
Gaming cos’ Budget bet
The online gaming sector is hoping for a major relief in the upcoming Budget. Industry insiders are abuzz with speculation that the Budget will abolish retrospective taxation on online gaming companies, a move that could bring significant relief.
A key panel under the GST Council has already recommended amending the CGST Act to quash past tax demands that arose due to interpretative issues or lack of clarity. This proposal, if incorporated into the Budget, would mean an end to the financial uncertainty that has plagued the industry.
With the Budget barely a few days away, online gaming companies are betting big on a favourable decision that could provide them with much-needed stability.
Runaway brides
Recently media reports highlighted how 11 women reportedly “eloped” with their lovers after they received the first tranche of Pradhan Mantri Awas Yojana (PMAY) money.
Post a complaint in one such case, an investigation was launched at the local level. And preliminary findings show there are at least 10 more such instances where women have gone missing after receiving the first tranche of money under PMAY.
The scheme is aimed at providing support to poor and lower middle-class households to build a permanent home. And the first tranche disbursed was to the tune of ₹40,000.
Caught off guard
Social media is a double-edged sword. It can make or destroy a person’s image in no time. Recently, the Excise Department of Telangana held a person who made a video on Facebook, explaining to his followers how to safely pack a liquor bottle while travelling.
On a tip-off, the Excise cops scrutinised the video and found more than one bottle in the video. On inquiry, they found that the person brought the bottles from Goa and had not paid the relevant taxes. A case was booked. The moral of the story is – think twice before posting videos on social media.