Ashwathi Pushpakumar

HPGD/JA22GA/5286
 UNDERTAKING BY STUDENT

I Ms. Ashwathi Pushpakumar, having admission no. HPGD/JA22GA/5286, declare that project work done for Project
We Like is my own work conducted as part of my syllabus.
I further declare that project work has been prepared personally by me after viewing the content under ‘We Tube,
We Lounge and Newswire’ and it is not sourced from any outside agency or any other student.
I understand that, any such malpractice will result into I being debarred for the subject viva and will be
considered fail for that subject. I also understand that I will have to face very serious consequences and my
admission to the program will be cancelled without any refund of fees. I am also aware that, I may face legal
action, if I follow such malpractice.
I hereby abide to take the viva faculty’s decision as final for evaluation of Project We Like.

Signature of Candidate
Ashwathi Pushpakumar
 Project Content

 WE TUBE
1)Setting Smart + ER Goals
2)Decision Making
3)New Product Development
4)Integrated supply chain model of McDonalds UK
5)Inventory Control Technique

 WE LOUNGE
1)Mr. Apurva Sircar
2)Mr. Amit Garg, CFO
3)Mr. Rajeev Singh
 NEWS WIRE
1) 5 TIPS ON INVESTING IN GOLD EXCHANGE TRADED FUNDS
2.MICROSOFT INTRODUCES NEW AI-POWERED BING SEARCH ENGINE, EDGE BROWSER
3. MAHINDRA ELECTRIC MOBILITY MERGES WITH PARENT MAHINDRA & MAHINDRA
4.CORPORATE FUNDING IN GLOBAL SOLAR SECTOR FALLS 13% TO $24.1 BILLION IN 2022
5.INDIA RAISES TAX ON IMPORTED CARS, MOTORBIKES, INCLUDING EVS IN A BID TO BOOST "MAKE IN INDIA" SCHEME
6. ADANI GREEN ENERGY ARM TO ACQUIRE 50 PER CENT EQUITY IN ESSEL SAURYA URJA COMPANY OF RAJASTHAN
7. 4 RULES FOR CFOS CUTTING OFFICE SPACE
8.PERSONAL INCOME TAX PROVISIONS IN BUDGET 2023: NO INCOME TAX FOR UP TO RS 7 LAKHS INCOME
9.GOOGLE TO END FEATURE THAT SHOWS PLAYABLE PODCASTS IN SEARCH RESULTS
10. GST LAW AMENDMENTS IN BUDGET 2023
WE TUBE
 Setting Smart + ER Goals
By Prof. Malini Shah

Turn every goal into a SMART one by following this framework:

• Specific – what exactly do you want to achieve?

• Measurable – What means/metrics will you use to track progress?
• Achievable - What is the required course of action to reach your goal?
• Realistic – What does the REAL scope look like to reach your goal?
• Time-bound – How long will it take for you to reach your goal?

◦ Conclusion
SMART goal setting brings structure into the evolution of where we are today to where we desire to be. Knowing how to set SMART goals by
using the SMART goal framework will help you turn your visions into actionable items. You will make more progress on things that are
beneficial and conquer success.
 Decision Making
By Prof. Rajendra Kulkarni

◦ Decision making is a daily activity for any human being. There is no exception about that. When it comes to business organizations, decision making is a
habit and a process as well.
◦ Effective and successful decisions make profit to the company and unsuccessful ones make losses. Therefore, corporate decision making process is the most
critical process in any organization.
◦ In the decision making process, we choose one course of action from a few possible alternatives. In the process of decision making, we may use many tools,
techniques and perceptions.
◦ In addition, we may make our own private decisions or may prefer a collective decision.
◦ Usually, decision making is hard. Majority of corporate decisions involve some level of dissatisfaction or conflict with another party.
◦ Let's have a look at the decision making process in detail.
Steps of Decision Making Process
◦ Step 1: Identification of the purpose of the decision Step 5: Evaluation of
alternatives
◦ Step 2: Information gathering Step 6: Select the best
alternative
◦ Step 3: Principles for judging the alternatives Step 7: Execute the decision
◦ Step 4: Brainstorm and analyze the different choices Step 8: Evaluate the results
◦ Conclusion
◦ When it comes to making decisions, one should always weigh the positive and negative business consequences and should favour the positive outcomes.
◦ This avoids the possible losses to the organization and keeps the company running with a sustained growth. Sometimes, avoiding decision making seems
easier; especially, when you get into a lot of confrontation after making the tough decision.
◦ But, making the decisions and accepting its consequences is the only way to stay in control of your corporate life and time.
 New Product Development
By Prof. Mangesh Borse

◦ Improving and updating products is an ongoing task as consumer "needs and wants" continuously change.
◦ A failure to develop products could result in a reduction in sales
if consumers decide to buy competitor products.

Conclusion
The eight stages of product development may seem like a
long process but they are designed to save wasted time
and resources. New product development ideas and prototypes are tested to ensure
that the new product will meet target market needs and wants.
There is a test launch during the test marketing stage
as a full market launch is expensive.
Finally the commercialization stage is carefully planned to
maximize product success, a poor launch will affect product sales and could
even affect the reputation and image of the new product.
 Integrated supply chain model of McDonalds UK
By Prof. Shailesh Kale

◦ Logistics Management or Supply Chain Solutions, both play a major role in determining the overall success of a company. Major
consequences are found in supply chain if there is even small variance in inventory; to overcome such consequences an effective logistics is
necessary for any organization. Logistics management involves high level of competences and expert knowledge. Managing from raw
material to final stage at right place on right time is handled by logistics management. To leverage opportunity in emerging markets,
companies are focusing on consolidating and aligning their supply chain management infrastructure, processes and procedures to reduce
costs and improve efficiency.

Supply chain management strategy:

Supplier Relationship Management – Service Provider Relationship Management – Customer Relationship Management
◦ Company Background and Introduction-Nature and Operation of Organization-Supply chain management strategy-Ordering Process-
Logistics Service Providers

Conclusion
◦ Structuring the supply chain requires an understanding of the demand patterns, service level requirements, distance considerations, cost
elements and other related factors. Moving of material inward is upstream and outward is downward. The upward activities are divided into
tiers of suppliers. A supplier that sends materials directly to the operations is first tier supplier; one that send materials to a first tier supplier
is a second tier supplier; one that sends material to a second tier supplier is a third tier supplier and so on to the original source. Customers
are also divided into tier. One that gets product directly from the operations is first tier customer and so on to final customers.
 Inventory Control Technique
By Prof. Suresh Pujari

Inventory management is a process of keeping in-depth track of all your products. With proper inventory management, you will ensure that
your company correctly orders, handles, and tracks your entire stock. On the most fundamental level, inventory control is aimed to make sure
that your shelves or virtual platforms are adequately stocked and you know your current inventory levels at any moment.
◦ Inventory management strategies
There are different inventory management methods. Depending on the business profile, optimal management models can differ. Below are 7
inventory control strategies that almost any retail business should consider.
1. Conduct ABC retail analytics
2. Select appropriate Fulfilment Strategy.
3. Properly forecast demand.
4. Define reorder levels and amounts.
5. Implements FIFO approach.
6. Conduct Regular inventory checks.
7. Automate Inventory management Processes.
◦ Conclusion –Inventory management is a very complex but essential part of the supply chain. An effective inventory management system
helps to reduce stock-related costs such as warehousing, carrying, and ordering costs. As you have read above, there are different techniques
that businesses can utilize to simplify and optimize stock management processes and control systems.
WE LONGE
Mr. Apurva Sircar

-(IDBI Federal Life Insurance)

 ACHIEVEMENTS

1)Mr. Apurva Sircar have a Thirteen years of learning how to make brands more relevant and attractive to consumers, by using
faculties of both the left brain and the right brain.
2)Demonstrated ability at leading and managing the marketing function in diverse industries, across durables, FMCG, frequent
use financial service and long term financial service.
3)Recognized as an objective driven professional, result oriented, smart and diligent manager, a dependable leader, a
professional with high standards of ethics, and a person with praiseworthy people skills.
4)He has a passion for inculcating and maintaining positive environment around me. I am
a proponent of happiness, whether at workplace or anywhere else.
5)Managing Expectations, Business-cycle and designs are also one of key factors.
6)While he was working for Heinzs Consumers Research was biggest learning for Mr. Apurva, he was Handling “Ketchup”
which has actually seen bad days when it was launched because it was launched at premium price band and as we know
ketchup is not stable meal for India house hold.
7)Entire perception of Heinzs being an expensive brand remain within the brand.
8)He played key role in Managing Perception and other than that understanding consumers insight and translating them into
actionable business output.
9)While working for KOTAK he was handling :
Acted as a Custodian of the brand - Kotak Credit Cards and ensured development of all consumer communication through:
-Emails
-Mobile
-Direct mailers
-POS elements
-Understanding the TG of the partner and developing communication and products and managing marketing spends for Kotak
Credit Cards
-Involved in conceptualizing and executing ground events; tracking consumer choice and preference.
-Ensured Agency co-ordination – Creative, Media, Research and Event Agencies.
10) Credit Cards launched in April 2008 at the same time unfortunately our economy was affected and lots of cost cutting
happened
and this was the worst year for every credit card industry.
11) After moving to BIRLA LIFE INSURANCE, he worked on brand for 3 and half years at Birla biggest learning was
category which was not exciting for the customer, a category seen as push product so how do you get people influence
so as to buy something which very important for their life that was the biggest learning.
12) “Its been exciting journey what I started with and where I am now I am doing nothing what I was doing at that point of
time,
as landscape has changed consumers have changed and it was huge learning experiment” he stated.
13)After moving from management school the first shock he got was he realized that whatever we study
in those 2 years of management none of it is applied , But it dose not make you study irrelevant .
14)Its easier to solve case study where risk is not involved whereas in real life scenario there is more risk involved.
15)He learned how to manage people its not negatively i.e Manipulating people but its
about managing expectation that would help overall organization to achieve its goals .
16)The two big learning he had at that point of time was “ People skill” and “Difference between real world and what you
studied in your management school ”.
17)He was also guest faculty at IMS , as he loves public speaking
18)In future he would be looking for Head of Marketing Role in unconventional industry,
new industry where he can make the norms and it will be exciting place to be.
19)Present he is also leading an internal transformation project whereby they have identified
the positioning for IDBI Federal and now are creating an organisation wide realignment to the positioning.
20)The project entails driving and measuring internal transformation, leading to external
communication.
Mr. Amit Garg

-(CFO-IMG Group)
 Achievements

◦ Business Transformations: Turned around loss making businesses into profitable ops including
◦ (a) Composites Buss. in USA
◦ (b) Building Materials buss in China
◦ - Growth: Accelerated business growth (55% volume and 80% profitability) Vs Flat Industry Growth
◦ - M&A and Fund Raising: Executed deals worth $2bn across India, China, USA, Indonesia, & Europe
◦ - Digital Transformation of the Group incl. global procurement, integrated ERP and cloud based communication systems

◦ MBA from top-tier B-Schools

◦ - UCLA Anderson School of Mgmt, Los Angeles, USA - leading US B-School (MBA Exchange Prog)
◦ - IIM Ahmedabad, India - Best Indian B-School (0.1% acceptance rate)

◦ Nearly 15+ years of work experience in Senior Management positions and CXO level roles (CEO, CFO, Director) spanning
◦ Private Equity investments (Buy-side), Mergers & Acquisitions, Fund raising (Debt / Equity / Mezz), Corporate Strategy,
Business Development, Operations and IT.
◦ Worked on deals/fund raising worth ~US$2 billion along with ~US$1.5 billion worth of deals for portfolio companies.

◦ - Regional exposure across India, Middle East, HK/China, Europe & USA.
◦ - Sectoral focus includes real estate, financial services, entertainment, technology, telecom, media, and building materials.
◦ - Well networked with funds, financiers and intermediaries across India, Middle East, China and Europe.

◦ Roles & Responsibilities:

◦ - CEO, International Operations covering ops in UAE, China, Indonesia & East Africa
◦ - Earlier, CFO (Int'l Ops) and Head of Group M&A
◦ - Director, CPI Binani, USA
Mr. Rajeev Singh

-(President, RAK Ceramics, India)

 ABOUT
◦ An astute and result oriented business leader with extensive experience in Building material and Modern Retail
domain for more than 30 years.
◦ Proven track record of accepting strong challenges and have shown exceptional results in most challenging
conditions.
◦ Rajeev is presently heading the operations in Eastern India for Dalmia Bharat Cement Limited responsible for the
P&L and spear heading the ambitious expansion plan of Dalmia Cement in East.
◦ Rajeev is highly skilled in strategic management, People management, driving business through team building,
Process design and channel insight.His ability to bring in innovative and differentiated strategies to business
creates an edge over the competition.
◦ Before this, Rajeev was heading Al Maha Ceramics SAOG, a public listed manufacturing company at Oman as
Chief Executive Officer and was responsible for the P&L of the company.
◦ Prior to joining Al Maha Ceramics, he was heading RAK Ceramics India as President responsible for the P&L of
Indian operations for 5 Years. His key expertise includes Business start-ups, Acquisitions, turn-around of business,
brand development and driving profits through effective cost control strategies.
◦ In his long span of 31 years in his career, he has excelled in both professionally run and owners run work
environment.
 AWARDS

◦ Top 100 Most Talented Global Marketing leaders - 2014 (World Marketing Congress)

◦ Oman's 100 Most inspiring CEOs - 2018 (Oman Daily Observer)

◦ CEO Insights Award for top ten Indian CEOs in Oman and featuring on their cover page

◦ Driven Brand Al Maha to get "Oman Most Trusted Brand" award in 2019 as consumer choice award.

◦ Received most coveted award in branding with Al Maha winning "Superbrands" award - Consumer voted -2020
and 2021

◦ Received Most prestigious award - His Majesty Sultan Award for Industrial Excellence 2020

◦ Received Iktisad AIWA award for Best Performing public listed Company for 2021
News Wire
 1. 5 TIPS ON INVESTING IN GOLD EXCHANGE TRADED FUNDS

◦ Gold ETFs and tips for investing in them

◦ Gold needs no special introduction to us Indians. The value of this precious yellow metal is appreciated and respected in almost every Indian
household.
◦ Gold has been an integral part of several Indian customs and traditions for many years now.
◦ Apart from honing a religious significance, gold also represents wealth and is often considered to be a status symbol as well.
◦ There is something about this yellow metal that makes it to the kitty of Indian households, either as an ornament or as an investment.
◦ Yes, gold has been a part of financial planning of Indian investors for a very long time now.
◦ Apart from flaunting it in the form of ornaments and jewellery at weddings and other occasions, gold is also bought in the form of biscuits,
coins and even bricks simply for its investment quotient.
◦ However, in the recent past, India is changing the way it buys gold, at least when it comes to investment. Gone are the old ways of
purchasing gold in physical form.
◦ A lot of Indian investors are ditching the old idea and adopting the new way of buying gold in digital format.
◦ Retail investors are finding investing in gold via gold ETFs a smarter and easier option than buying gold in physical format.
 Tips for investing in gold exchange traded funds

◦ If you are new to financial markets and looking out for some tips before considering an investment in gold exchange traded funds, here are a few pointers that might
help:

1. If you plan on selling your gold ETF units, you will have to pay a commission or brokerage charges that may vary from fund house to fund house. So before
investing in a gold ETF belonging to any AMC, make sure that the expense ratio for managing the gold ETF is considerably lower.
2. Check out for the gold ETF’s past performance and consider investing in a fund that has a proven track record. Remember that it is better to invest in a fund that has
given consistent capital gains over the years rather than investing in a fund that has been the past year’s top performer.
3. Consider investing in gold ETFs rather than buying physical gold. Investing in digital gold makes a lot of sense because you do not have to worry about its
authenticity. Plus, the safety of physical gold is always a concern. You need to store it in a bank’s safety vault, for which you may have to pay annual fees. You cannot
keep gold in bulk at home because there is a constant fear of theft. Hence, if you have the budget of purchasing gold in bulk, buying it in the form of gold ETFs might
be a decent idea.
4. Do keep a track on the rise and fall of gold prices on a daily basis. This way, when the gold prices go down, you can buy more units and benefit from rupee cost
averaging. And when the prices go up, you might be able to sell your funds and score some profit. So make sure that you inculcate the habit of keeping a daily check on
gold prices.
5. If you are investing in gold ETFs as an investment, do not limit your investments to them. Consider diversifying your portfolio with other investment products too.
This way you will be able to give your investment portfolio the diversification it deserves. These were some of the general tips every investor should keep in mind
before investing in gold ETFs. And those who are completely new to investing and lack the knowledge of financial planning, do not shy away from seeking the help
of a professional advisor. It is better to take assistance than making a hurried investment decision.

Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
 2. MICROSOFT INTRODUCES NEW AI-POWERED BING SEARCH ENGINE, EDGE BROWSER

◦ Users can also ask the browser to help them compose content, such as a LinkedIn post.
◦ Moreover, it can also help users to update the tone, format and length of the post
◦ Microsoft has introduced its new Bing powered by "next-generation" ChatGPT artificial intelligence (AI),
◦ and also updated its Edge browser with new AI capabilities.
◦ The AI-powered Bing search engine and Edge browser are now available for preview at Bing.com,
◦ to "deliver better search, more complete answers, a new chat experience and the ability to generate content", the tech giant said in a blogpost
on Tuesday.
◦ According to the company, these tools act as an "AI copilot for the web".
◦ "AI will fundamentally change every software category, starting with the largest category of all -- search," said Microsoft CEO Satya
Nadella.
◦ "Today, we're launching Bing and Edge powered by AI copilot and chat, to help people get more from search and the web," he added.
◦ With the new Bing, users get an enhanced version of the standard search experience.
◦ The updated search engine is powered by a new, next-generation Open AI large language model that is more powerful than ChatGPT.
 3. MAHINDRA ELECTRIC MOBILITY MERGES WITH PARENT MAHINDRA & MAHINDRA

◦ The company's Board had undertaken that MEML would merge into M&M with effect from April 1, 2021, to synergies EV development, manufacturing and sales
operations, M&M said in a statement.
◦ The merger process, which has been underway, received the final NCLT approval on January 13, 2023, it added.
◦ Mahindra and Mahindra on Thursday said its electric vehicle unit has merged with it.
◦ Mahindra Electric Mobility Ltd (MEML) is now officially merged into the parent company, Mahindra and Mahindra Ltd (M&M), the auto major said in a statement.

◦ The company's Board had undertaken that MEML would merge into M&M with effect from April 1, 2021, to synergies EV development, manufacturing and sales
operations, it said.
◦ The merger process, which has been underway, received the final NCLT approval on January 13, 2023, it added.
4.CORPORATE FUNDING IN GLOBAL SOLAR SECTOR FALLS 13% TO $24.1 BILLION IN 2022

◦ In India, solar module manufacturer Waaree Energies raised USD 122.6 million from high net-worth individuals and private offices, and solar
startup SolarSquare raised USD 12 million in Series A funding led by Elevation Capital and Lowercarbon, Chris Sacca's climate-tech fund.

◦ Corporate funding in the global solar sector declined 13 per cent year-on-year to USD 24.1 billion in 2022, according to a Mercom
Capital report.
◦ Corporate funding includes venture capital and private equity (VC and PE), debt financing, and public market financing.
◦ Total corporate funding in 2022 (first nine months) stood at USD 24.1 billion, 13 per cent lower compared to USD 27.8 billion raised in
2021," the global clean energy consulting firm said in its report.
◦ During 2022, VC funding activity rose 56 per cent to USD 7 billion compared to USD 4.5 billion in 2021.
◦ In India, solar module manufacturer Waaree Energies raised USD 122.6 million from high net-worth individuals and private offices,
◦ and solar startup SolarSquare raised USD 12 million
◦ in Series A funding led by Elevation Capital and Lowercarbon, Chris Sacca's climate-tech fund.

◦
GLOBAL SOLAR SECTOR

In the domestic industry, Orb Energy received a USD 20 million

follow-on loan from the US
International Development Finance Corporation n 2022, debt
financing was at USD 12 billion, a 24 per cent decline compared
to USD 15.8 billion raised during 2021.
to support its ground-mounted solar customers in India.

Global public market financing in 2022 totalled USD 5.1 billion,

32 per cent lower than USD 7.5 billion in 2021.
A total of 128 mergers and acquisitions (M&A) transactions were
recorded in 2022.

"The war in Ukraine has accelerated demand for solar around the
world and the Inflation Reduction Act has boosted the sector in
the US.
In 2022, we saw record venture capital and private equity funding,
solar companies were acquired in record numbers and
solar projects saw their second best year for acquisitions," Raj
Prabhu, CEO of Mercom Capital Group said.
5.INDIA RAISES TAX ON IMPORTED CARS, MOTORBIKES, INCLUDING EVS IN A BID TO BOOST "MAKE IN INDIA" SCHEME

◦ Import tax on all semi-knocked-down cars - where major parts are imported separately and the final vehicle is assembled in the country - will be raised to 35% from
30%. The tax hikes, part of the government's federal budget which was presented on Wednesday, come into effect from April 1. Taxes on automobiles in India, the
world's third-largest car market, rank among the highest globally, drawing criticism from companies such as Tesla Inc which shelved plans last year to enter the
market because of high tariffs.

◦ India on Wednesday said it will raise taxes on imported cars and motorbikes, including electric vehicles (EVs), as it seeks to boost local manufacturing in line with
Prime Minister Narendra Modi's "Make in India" campaign ahead of elections in 2024.
◦ All vehicles with a landed cost of less than $40,000 will be taxed at 70%, up from 60% earlier, a move analysts say could impact demand. The landed cost includes
the vehicle's price tag plus insurance and freight costs.
◦ Import tax on all semi-knocked-down cars - where major parts are imported separately and the final vehicle is assembled in the country - will be raised to 35% from
30%.
◦ The tax hikes, part of the government's federal budget which was presented on Wednesday, come into effect from April 1.
◦ Taxes on automobiles in India, the world's third-largest car market, rank among the highest globally, drawing criticism from companies such as Tesla Inc which
shelved plans last year to enter the market because of high tariffs.
◦ Carmakers including South Korea's Hyundai Motor and Kia Corp, Germany's Volkswagen AG, Skoda Auto and Japan's Toyota Motor Corp sell imported cars in the
country, with some also selling electric models.
• India's EV market is small - making up about 1% of total car sales in the country in 2022 - but growth has been rapid, with
domestic carmakers Tata Motors and Mahindra & Mahindra as well as global rivals BYD and SAIC's MG Motor lining up
new launches.

• Global carmakers who are banking on buoyant consumer demand in the premium and luxury space will be affected, Rajat
Mahajan, partner at Deloitte India said, adding that some companies may absorb this cost to benefit from the recent surge in
demand.

• India has seen strong rebound in car sales, which rose 25% to 3.8 million in 2022.

• Growth in premium and luxury cars was higher, with carmakers like Mercedes-Benz and BMW reporting record sales in the
country.

• Toyota's luxury brand Lexus has warned that based on the increase in taxes, the carmaker may have to "adjust the prices" of
some of its models.

• "We hope to have better clarity once we study the overall impact of the same," Lexus' India president, Naveen Soni, said.
6. ADANI GREEN ENERGY ARM TO ACQUIRE 50 PER CENT EQUITY IN ESSEL SAURYA URJA COMPANY OF RAJASTHAN

ESUCRL owns and operates a solar park with 750 MW capacity in Rajasthan.
It had a turnover of Rs 9.87 crore in 2021-22. The authorised capital of ESUCRL is Rs 50 crore while the paid up capital is Rs 46.56 crore.

◦ Adani Green Energy arm Adani Renewable Energy Holding Two Ltd will acquire 50 per cent equity in Essel Saurya Urja Company of Rajasthan Ltd from Essel
Infraprojects for Rs 15 crore. Adani Renewable Energy Holding Two Ltd (ESUCRL) has entered into a binding term sheet with Essel Infraprojects Ltd on January
17,2023 to this effect, Adani Green Energy said in a regulatory filing.
◦ The remaining 50 per cent of the equity shares will continue to be held by the government of Rajasthan. ESUCRL owns and operates a solar park with 750 MW
capacity in Rajasthan.
◦ It had a turnover of Rs 9.87 crore in 2021-22. The authorized capital of ESUCRL is Rs 50 crore while the paid up capital is Rs 46.56 crore.
◦ ESUCRL develops solar parks to enable setting up renewable energy

generation plants by developers.

◦ The acquisition will expand AGEL's footprint in the state of Rajasthan, where

the Adani Green Energy Ltd (AGEL) already owns and operates a solar park in
a joint venture company with the Rajasthan government Adani Renewable
Energy Park Rajasthan Ltd. It was incorporated on 27th May, 2015.
◦ The acquisition is expected to be value accretive to the

company's shareholders, it added.

 7. 4 RULES FOR CFOS CUTTING OFFICE
SPACE

◦ Trimming office space budgets has long been a quick cost-cutting solution for companies
◦ in recessionary times. Now hybrid work is complicating matters.
◦ Cutting fat from office space budgets would seem like a no-brainer for CFOs as the economy heads into what could be the jaws of a
recession.
◦ But realizing real estate savings is likely to be a more complex process than in past downturns, experts say.
◦ “What organizations now need to do is say ‘ok, during every recession real estate has always been a line item that we look at’ and so they’re
looking at it again,” said Julie Whelan, global head of occupier thought leadership and research consulting at the real estate services firm
CBRE.
◦ “But they need to look at it with that lens of how much they cut during the pandemic and where they think their headcount is going.”
◦ The halting pace of employees’ return to office and the toehold that hybrid work now has in corporate work models leaves experts like
Whelan pegging office utilization rates at about 50% of what they were before the pandemic — even as hard-driving executives like Elon
Musk and JPMorgan’s Jamie Dimon push hard to get staff back in their cubicles.
◦ The latest round of office space cutbacks are playing out most visibly in Silicon Valley, the source of an almost daily drumbeat of
announcements from high profile tech companies like Salesforce and Microsoft, many of whom are detailing layoffs and revising their real
estate footprints. “Tech firms were famous for taking space to grow into.
◦ Then all of a sudden things came to a screeching halt,” Whelan said in an interview.
 There’s no magic per person space ratio

◦ Historically, there has often been a discussion in real estate circles around the right ratio of employees per square foot of office
space. Right now,
◦ that is no longer realistic given the differences from industry to industry layered on top of the different ways companies are aiming
to mix in hybrid,
◦ in person and remote approaches to working.

◦ Then too, even as patterns for work are emerging, it’s not altogether clear how to accommodate workers who may not all be in the
office at the same time.
◦ For example, most tenants are adopting hybrid work with a minimum of three days in the office, according to Colliers.

◦ Many companies are settling in the increasingly embraced sweet spot of calling all employees back to the office Tuesday,
Wednesday and Thursday.
◦ From that point some CFOs are seeking to extrapolate how much space they’ll need going forward.

◦ Shared desks and other systems are changing the calculations companies are making. “The square foot ratio is almost a number that
doesn’t make sense anymore,”
◦ Whelan said. Over the next few years, as companies adjust to the new work environment, CBRE estimates that companies will
likely reduce the amount of space needed per person by about 15%, according to CBRE’s U.S. Real Estate Market Outlook 2023.
 8.PERSONAL INCOME TAX PROVISIONS IN BUDGET 2023: NO INCOME TAX FOR UP TO RS 7 LAKHS INCOME

◦ In a move that is being welcomed by the citizens of India, Nirmala Sitharaman, union minister of finance, Government
of India announced that no income tax will have to be paid by citizens getting paid up to Rs 7 lakhs per year.
Furthermore, new IT return forms are being introduced to ensure easier filing of returns. “Personal Income Tax for the
hardworking middle class Currently, those with an income of Rs 5 lakhs do not pay any income tax and I proposed to
increase the rebate limit to Rs 7 lakhs in the new tax regime,” said Sitharaman.
◦ Under the revamped concessional tax regime, no tax would be levied for income up to Rs 3 lakh.
◦ Income between Rs 3-6 lakh would be taxed at 5 per cent; Rs 6-9 lakh at 10 per cent, Rs 9-12 lakh at 15 per cent,
◦ Rs 12-15 lakh at 20 per cent and income of Rs 15 lakh and above will be taxed at 30 per cent.
◦ The government in Budget 2020-21 brought in an optional income tax regime, under which individuals and Hindu
Undivided Families (HUFs) were to be taxed at lower rates if they did not avail specified exemptions and deductions,
like house rent allowance (HRA), interest on home loan, investments made under Section 80C, 80D and 80CCD.
Under this, total income up to Rs 2.5 lakh was tax exempt.
◦ With effect from April 1, these slabs will be modified as per the Budget announcement.
 9.GOOGLE TO END FEATURE THAT SHOWS PLAYABLE PODCASTS IN SEARCH RESULTS

◦ Google has announced that it will end its feature that allows users to access playable podcasts directly from the search results on
February 13.

◦ The feature was officially launched in 2019 and displays podcasts when it matches a user's query, including when a user specifically
adds the word "podcast" in the search terms, reports TechCrunch.

◦ The company announced the shutdown in the 'Google Podcasts Manager' with a message.

◦ Google Search will stop showing podcast carousels by February 13. As a result, clicks and impressions in How people find your show
will drop to zero after that date," the message mentioned.

◦ Additionally, podcasters are advised to download any historical data they wish to save prior to this final shutdown.

◦ "Our existing podcast features will gradually be replaced with a new, single feature, What to Podcast," a spokesperson told
TechCrunch.

◦ "This feature provides detailed information about podcasts, links to listen to shows on different platforms, and links to podcasters'
own websites, where available.
 10. GST LAW AMENDMENTS IN BUDGET 2023

◦ In the Union Budget 2023, Finance Minister Nirmala Sitharaman announced nine legislative changes in the GST law.
◦ he compounding amount is reduced from the present range of 50 per cent to 150 per cent of tax amount to the range of 25
per cent to 100 per cent.
◦ This was done to raise the minimum threshold of tax amount for launching prosecution under GST from Rs 1 crore to Rs 2
crore.
◦ Except for the offence of issuance of invoices without supply of goods
or services or both.
◦ obstruction or preventing any officer in discharge of his duties;
deliberate tempering of material evidence failure to supply the
information are some of the offences that have been decriminalized.
 Facilitate e-commerce for micro enterprises

◦ Amendments are being made to enable unregistered suppliers and composition taxpayers to make intra-state supply of goods
through E-Commerce Operators (ECOs), subject to certain conditions.

Amendment to Schedule III of CGST Act, 2017

◦ Activities or transactions which shall be treated neither as a supply of goods nor a supply of services
◦ The changes made in Schedule III of CGST Act, 2017 with effect from February 1, 2019 kept certain transactions/activities,such
as supplies of goods from a place outside the taxable territory to another place outside the taxable territory, high sea sales and
supply of warehoused goods before their home clearance, outside the purview of GST.
◦ In order to remove the doubts and ambiguities regarding taxability of such transactions/ activities during the period July 1,2017 to
January 31, 2019, the provisions are being incorporated to make the said changes effective from July 1, 2017.
◦ However, no refund of tax paid shall be available in cases where any tax has already been paid in respect of such transactions/
activities during the period July 1,
2017 to January 31, 2019.
Return filing under GST
◦ Amendment is made to restrict filing of returns/statement to a maximum period of three years from the due
date of filing of the relevant return/statement.

◦
 Input Tax Credit for expenditure related to CSR

◦ CGST Act is being amended to provide that input tax credit shall not be available in respect of goods or services or both received by a
taxable person, which are used or intended to be used for activities relating to their obligations under corporate social responsibility.

Sharing of information
◦ A new section in CGST Act is being inserted to enable sharing of the information furnished by the registered person in their return or
application of registration or statement of outward supplies, or the details uploaded by them for generation of electronic invoice or E-way bill
or any other details on the common portal, with other systems in a manner to be prescribed.

Amendments in section 2 clause (16) of IGST Act, 2017

◦ Clause (16) of section 2 of IGST Act is amended to revise the definition of “non-taxable online recipient”.
◦ This will be done by removing the condition of receipt of online information and database access or retrieval services for purposes other than
commerce, industry or any other business or profession so as to provide for taxability of OIDAR service provided by any person located in
non-taxable territory to an unregistered person receiving the said services and located in the taxable territory.
 Online information and database access or retrieval services
◦ IGST Act is being amended to revise the definition of “online information and database access or retrieval services” to remove the condition
of rendering of the said supply being essentially automated and involving minimal human intervention.

Place of supply in certain cases

◦ Under IGST Act (Proviso to sub-section (8) of section 12 of the IGST Act) is being omitted so as to specify the place of supply, irrespective
of destination of the goods, in cases where the supplier of services and recipient.
THANK YOU