June 9, 2020

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Meghan Asha, the founder of , was a guest at the most recent Startup Story Live, an extension of the hit The Startup Story that gives everyone in attendance direct access to founders. The two-day livestream event, which streamed to 77 different countries, allowed founders to share the tactics and strategies they have employed to stabilize their current businesses. 

Asha explained practical guidance for all in attendance on how to elevate their message above the noise created by the of the day. Asha shares how buyers are still looking for the next great , and

The banking and financial sector is among the worst hit in the current downturn. While the Nifty50 has declined 27.7 per cent, the Nifty Bank index has nosedived 40.1 per cent over the past three months.

In a report issued on April 15, Macquarie Research cut its earnings per share estimates for private banks by 35-40 per cent and reduced its target prices for private banks by 45 per cent and for public-sector banks by 47 per cent.

With economic growth poised to slow down — the International Monetary Fund has cut India’s GDP growth estimate to 1.9 per cent for 2020-21 — the banking and financial sector, whose prospects are tied closely to the economy’s, is bound to bear the brunt.

There could be a spike in bad loans. “The slowdown could lead to potential job losses, which

India’s tax-to-slid further in FY20 to a 10-year low of 9.88 per cent, driven by a decline in collections from Customs and corporation tax, while excise duty posted marginal growth.

The ratio stood at 10.97 per cent in FY19, and at 11.22 per cent in FY18. It is only estimated to decline further, with revenues falling on account of a slump in economic activity.

While the ratio determines the extent to which the government is able to finance its expenditure, it is also an indicator of tax compliance. Developed countries have a higher contribution of tax to their GDP.

ALSO READ: PMLA court orders seizure of Nirav Modi’s assets worth Rs 1,400 crore

Gross tax revenue fell 3.39 per cent in FY20, with a Rs 1.5-trillion shortfall in collections, as against the revised Budget target for the year.

It will

The benchmark indices gained sharply in the opening trade on Monday, but failed to sustain gains as investors resorted to profit-booking following a steep rise in the past fortnight.

After climbing to 34,928 in intra-day trade, the settled at 34,371 — 557 off the day’s high but 83 points more than the previous close.

The index hit an intra-day high of 10,329 before ending at 10,167, up 25 points, or 0.25 per cent. Subdued opening in the European markets, coupled with weakness in index heavyweights — such as Reliance Industries, HDFC Bank, and ITC weighed — on the performance. Shares of hit an all-time high of Rs 1,624 an intra-day basis but ended at Rs 1,570, down 0.67 per cent from its previous close. Shares of HDFC Bank fell 1.9 per cent; ITC declined 1.1 per cent.