👀 The Week At A Glance
This week we talked about a new law, a new tax, a new pivot and lots of other new things.
We began the week by examining India's twin deficit issue and its solution and ended it with a very interesting case study about free transportation. Catch up with all this and more in just 4 mins.
💡India's Solution to Twin Deficit Issue
India is currently facing a twin deficit issue: current account deficit and fiscal deficit. But what do these deficits mean and where did they even begin from? Well, the current global scenario is the culprit. However, India seems to have found a solution to this problem. Here's what the solution is and our analysis on how effective it will be.
🆕 BharatPe's New Pivot?
BharatPe has been making headlines in the last few months thanks to the whole Ashneer Grover controversy. And now thanks to increasing regulation by the RBI and its upcoming IPO, it is looking to stay away from areas that could attract RBI's wrath. So, it is considering a pivot. ReadOn to know more.
🏭 India's Plan to Boost Manufacturing
One of the main reasons that China is a global superpower and we aren't is because China has managed to boost manufacturing. It has managed to become the world's factory. India had also tried to do this by introducing Special Economic Zones. But this plan didn't work out. So, here's what India is trying to do instead.
🔍 The Crypto Domino Effect
The crypto world has come crashing down in the last few months with company after company either stopping transactions or filing for bankruptcy. The latest company to do so in Vauld, a finfluencer favourite. Here's our explainer on why the crypto space is tanking so bad.
💰 Yet Another Tax On Income
As if existing taxes weren't enough, the government has introduced yet another section in the income tax law. But don't worry, this section isn't targeting everyone: mainly influencers, doctors and consultants. Here's how this section will impact them.
🚍 Free Travel for All?
Luxembourg seems to have everything: wealth, cars, cheap diesel. But all of this created a problem: too much traffic and pollution. To solve this Luxembourg made public transport free for all. Here's how this plan worked out for them.
🗞️ Here's What Else Made the News And Moved the Markets
👉 Tesla is no longer the biggest EV producer by sales. Warren Buffett-backed BYD, a Chinese manufacturer has bested Tesla. That's because Tesla had to stop operations due to China's lockdowns, while BYD wasn't impacted because its factories were away from the lockdown-affected areas. But now Volkswagen is also projected to surpass Tesla soon and Chinese EV players are also growing. Will Tesla be able to win the EV wars?
👉 Reliance is now on a partnership spree. After Reliance Brands partnered with Pret A Manger to compete with Tata's Starbucks, Reliance Retail is partnering with GAP. The company has been busy making a lot of acquisitions in the luxury fashion space and the recent partnership will help it give tough competition to existing competitors like Myntra.
👉 Elon Musk is not buying Twitter. Yes, after a months long drama of "will they won't they", Musk has finally clarified that he won't be buying the company as it cannot prove it has less than 5% fake users. But he had earlier claimed he had a Plan B for a social media platform that promoted freedom of speech. So, will we be seeing a Musk-created platform soon?
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