Innholdsfortegnelse for March 27, 2016 i Business Today

Immediately after the Budget, many friends and acquaintances ask me if I consider it to be good or bad. My answer generally is: it largely depends on who you are. For example, if you were a farmer or rural worker suffering acute distress because of two years of bad rains and a huge debt, some parts of the current Budget would definitely delight you. If you were a small taxpayer looking to build your first small house, you would also find some cheer in the Budget. Ditto if you were a cement or steel manufacturer. Cement and steel companies would also have things to cheer about, given the focus on infrastructure development. Construction firms specialising in roads would also see good business prospects. On the other hand, if you are…

Touch-Savvy Instant messaging and calling app Viber has added new updates to its iOS version. The newly introduced 3D Touch feature allows users to create a new message, access recent chats and look at missed calls. Previously, pressing the app's icon would only bring up a shortcut to create a new message. The support is only available on iPhone 6s and 6s Plus. The other new feature is the conversation gallery, which lets users see all photos and videos shared in one chat at the same place. For this, the user needs to tap the gear icon in their chat and select the media option. It has also introduced Split View and Slide Over functionality for better multitasking on iPad tablets. Speeding Ahead Cloud-based mobile and desktop messaging platform Telegram,…

Many political economists even said that a government that had rode to victory because it was considered right wing in its politics was now taking a firm turn left in its politics, focusing more on rural areas and social schemes than on outright growth Almost a month and a half before Finance Minister Arun Jaitley rose to present his third Budget, the government had already started sounding off the people about its main worries. In public pronouncements, Prime Minister Narendra Modi, finance minister Jaitley, and his deputy, Minister of State for Finance, Jayant Sinha, spoke increasingly about rural distress and the overall gloom and doom in the global economy. The fact that the government felt that the only way to address the issues was through increased public expenditure, especially on…

On Independence Day 2014, the Prime Minister scaled the ramparts of the Red Fort and spoke to the assembled school children. He told them that the Planning Commission was like a decrepit old house that would cost too much to repair, and that it would be replaced with a new institution having a new design and structure, a new body, a new soul, a new thinking and a new direction. It was abolished on February 15, 2015, as he promised. The Budget that followed a fortnight later was, perhaps, too early to implement his decision. But the 2016 Budget continues in the old mould; even the allocation of expenditure to the plan has changed little. On this serious ‘reform’ the PM promised, the Finance Minister has not moved an inch…

November 2012 $880 MN Diageo acquires 25% stake in USL November 2013 $76 MN Open market purchase of equity stake January 2014 $138 MN Open market purchase of equity stake July 2014 $1,920 MN Open offer for around 26% stake; Diageo now has 54.78% equity in USL May 2014 $394 MN Losses on sale of Whyte & Macay* 2013/14 $89 MN Writes off loans to UB group** 2014/15 $87 MN Writes off loans to UB group *** 2014/15 $82 MN Diminution in value of assets# February 2016 $75 MN Payout to Mallya on resignation as chairman January 2016 $141 MN Default on Standard Chartered loan to Watson Ltd that was guaranteed by Diageo $3,882 MN Estimated cost of USL to Diageo Notes: *Value of Diageo's 54.78% stake; total loss was…

Recent complaints about the HR function have touched a nerve in a large, sympathetic audience, particularly in the United States. The most vocal critics say that HR managers focus too much on “administrivia” and lack vision and strategic insight. These feelings aren’t new. They’ve erupted now and in the past because we don’t like being told how to behave – and no other group in organisational life, not even finance, bosses us around as systematically as HR does. We get defensive when we’re instructed to change how we interact with people, especially those who report to us, because that goes right to the core of who we are. What’s more, HR makes us perform tasks we dislike, such as documenting problems with employees. And it prevents us from doing what…

India's Power sector is one of the largest in the world, with close to 300 GW of power generating capacity across a mix of sources. Now, global warming and rising energy demands have made it imperative to include a much higher share of renewables in the country's energy mix. The government has keen interest in pushing this sector though policy changes and providing a conducive business environment. The 'Make in India' program is giving further impetus to this sector. Besides easing out the processes of setting up renewable infrastructure, the focus continues to grow on improving the finances of the distribution companies for higher investments in the future. ReNew Power, India's leading clean energy company, is setting the trend in the clean energy sector. Set-up in 2011, ReNew Power was…

Globalization Before Its Time By Chhaya Goswami Portfolio Price: 299 The book tells the story of merchants from Kachchh who established a flourishing overseas trade in the 18th - 19th century. BUSINESS BESTSELLERS* The Mastery Manual By Robin Sharma Jaico Publishing House Price: 199 Thinking, Fast and Slow By Daniel Kahneman Penguin Price: 499 IIM Ahmedabad Business Books By Satish Y. Deodhar RHI Price: 299 The Golden Tap By Kashyap Deorah Roli Books Price: 595 Steve Jobs By Walter Isaacson Little, Brown Book Group Price: 550 *Top books by sales for Feb 14 - Feb 27, 2016; Includes only books released after Jan 1, 2015; Information provided by amazon.in…

Individuals Lower Tax: Tax rebate of Rs 5,000 — from Rs 2,000 earlier— for those earning up to Rs 5 lakh a year More Savings: Tax deduction of Rs 24,000 will now be Rs 60,000 for people living in a rented house and not receiving HRA under Section 80GG Surcharge for individuals earning more than Rs 1 crore will go up from 12% to 15% Home Loan: Additional deduction of Rs 50,000 on interest on loans up to Rs 35 lakh for first-time buyers Time limit for buying house and benefit on interest increased from three to five years. At present, construction should be complete within three years for a deduction of Rs 2,00,000. Otherwise, a deduction of only Rs 30,000 is given. Tax Slabs: No change Investment Additional Dividend…

The tax on dividends could go against the interests of small investors as many promoters may reduce dividends due to much higher taxes at their end The finance minister has done a commendable job in his Budget proposals for 2016/17. He has reiterated his government’s commitment to uplifting the rural sector, mitigating the impact of adverse weather on agriculture, creating more employment opportunities and enriching the lives of the less privileged. As expected, he has maintained the thrust on social and infrastructure spending. And yet, he has not strayed from fiscal discipline. While he has left income tax slabs unchanged, he has doled out sops for tax payers at the bottom of the pyramid by raising the rebate under Section 87A, raising the house rent deduction under Section 80GG and…

Any tax determined or validated by amendment with retrospective effect as on 29 February, 2016, will be eligible for arbitration before the concerned authorities Finance Minister Arun Jaitley has made a conscious effort to reduce tax litigations and provide certainty in taxation. He made it clear that while compliant taxpayers can expect a supportive interface, any sort of tax evasion will be countered strongly. Here are a few welcome initiatives. AUTOMATION OF ASSESSMENT According to the Budget proposals, notices and documents can be issued in both paper and electronic form, and the term ‘hearing’ will include e-communication of data. The scope of e-assessments will be introduced in seven mega cities. The scrutiny will be done in an e-environment, where there will be no face-to-face interface between the Income Tax Department…

Revamping the Work Environment This refers to your cover story The Best Companies to Work For (March 13, 2016). Gone are the days when employees only looked for fat-salary jobs. In the present scenario, the great workplaces have well-defined organisational goals. Today, even the highest paid employees agree that money does not matter after a certain point. It is job satisfaction and a cordial office atmosphere that ultimately makes a difference. Top companies have a creative and colourful ambience. Offices today are mostly designed to promote innovation and help employees give their best performance. Apart from this, various reward and recognition programmes, too, ensure that innovation, creativity, leadership and team work are rewarded along with individual contributions. Vinod C. Dixit, Ahmedabad How the French Ensure a “Healthy” Work Culture…

15-16 MORE POWER TO WOMEN WHAT: Women’s Empowerment Principles Annual Event WHEN: March 15-16, New York WHAT TO LOOK FOR: The United Nations event commemorates International Women’s Day. Global participants will be deliberating on how various companies implement Women’s Empowerment Principles. The event will be a congregation of business leaders, female entrepreneurs, civil society representatives, governments and the United Nations. 10-11-15-19 TIME FOR AMENDMENT WHAT: CII Coffee Table series on Companies Act, 2013, and the Report of the Companies Law Committee WHEN: March 10, 11, 15 and 19 in New Delhi, Chennai, Mumbai and Kolkata WHAT TO LOOK FOR: The new Companies Act is set for an overhaul in less than three years since its implementation. This calls for new strategies towards compliance and adherence to the new law. The…

“The spirit is willing, but the flesh is weak”. Pick that line from the Bible and supplant it on the Indian economy and it will stay true. Finance Minister Arun Jaitley’s stretched target to expand the government’s skill training programme to cover 10 million youth in three years may appear practical under ideal circumstances, but not when the economy is reeling under a slowdown. Over these three years, India’s formal labour force will have to expand by 28 per cent, and gross domestic product (GDP) will have to grow by at least 10 per cent, if there are to be enough jobs with decent pay. With global conditions the way they are, and manufacturing languishing in India, this is a hard prospect. Moreover, the economic growth required to absorb these…

All Budgets see some ministries gaining a lot in terms of allocation, while others lose out. At first glance, the winners seem apparent enough. Agriculture, rural development and infrastructure seem to have gained a lot in this Budget. A closer examination reveals a more nuanced truth. While infrastructure has been the focus of the government from the first Budget, the current spends on agriculture and rural development look excellent only if one does not consider that these ministries saw their spends decreasing in the first two Budgets, despite the two consecutive bad monsoons. And, after one accounts for the interest subvention, the new money to be spent on villages and agriculture seems far less generous than in the past. Similarly, on paper, the Petroleum and Natural Gas ministry seems to…

Increasing farmers’ incomes will have to be seen in terms of increasing income earning opportunities for rural households, including farm households It was expected that the Union Budget this year will highlight issues relating to agriculture and rural sectors than on other sectors of the economy. This expectation was indeed fulfilled. Agriculture and rural sectors were two of the nine pillars of the transformative agenda of the Budget. As government interventions have been pervasive in every aspect of the agricultural economy, the new proposals point to some reorientation of priorities, general expansion of ongoing schemes and new initiatives. The distress in farm sector, accentuated by the failure of monsoon rains for two consecutive years, has required a reassessment of the role the government could play in the sector. The vulnerability…

1 Restructure the Board The current board has just one director from 2013, when Diageo acquired majority stake in USL. The new Chairman of USL, M.K. Sharma, is a respected industry veteran who also chairs the board of ICICI Bank. 2 Professionalise operations Anand Kripalu, a well-regarded FMCG veteran, was named CEO on May 1, 2014. The new management has weeded out (the company says they chose to quit) people considered close to Mallya like former Executive Director P.A. Murali and a host of others down the line. 3 Cut costs The new management has divested non-core assets (like its operations in Nepal), cut down the number of subsidiaries from 73 to 22, and lowered debt from 8,500 crore to `4,700 crore. 4 Go premium Company is aggressively focusing on…

80s 1955: Born Dec 18 1977: Inducted into the board of UB at 22 1983: Becomes chairman of UB Group at 28 after the sudden demise of his father 1985: Launches Unitel Communications to manufacture and sell EPABX and telephones in partnership with Ericsson 1986: Launches India’s first pizza chain, called – what else – Pizza King 1987: Launches Carbonated Beverages Ltd, which launches flavoured drinks Rush, Thril and Trip 90s 1988: Acquires Berger Paints 1989: Acquires engineering firm Best & Crompton 1990: Floats UB Air, the precursor to Kingfisher Airlines 1990: Sets up UB Healthcare, which forms Mallya Hospital, one of the earliest corporate hospitals in India 1990: Acquires Mangalore Chemicals & Fertilisers 1991: Partially exits UB MEC batteries by selling it to Kirloskars 1993: Blue Pearl Internet Group…

Be it the Nokia N8 or Samsung Galaxy S4 Zoom, we have just not been able to get over our fixation of powerful camera optics in smartphones even after so many years. The launch of the Asus ZenFone Zoom only makes the desire stronger. In fact, the company has done a commendable job by adding a 3x optical zoom to a phone without making it look like a digital camera or making it uncomfortable to hold. The 5.5-inch, 1,080x1,920p resolution display protected by Gorilla Glass 4 dominates the front. To give it a premium feel, Asus has added leather to the plastic rear panel. A big circular camera module dominates the rear while there is a hump at the bottom that balances the weight of the device. The highlight is…

Google India has emerged as the ‘Best Company to Work For’ in a Business Today survey, followed by Accenture India and TCS. The survey was conducted by Business Today with the help of knowledge partner PeopleStrong and survey partner Naukri.com. The awards were given by Devendra Fadnavis, Chief Minister of Maharashtra, at a glittering function in Mumbai. This is the 14th edition of the ‘Best Companies to Work For’ survey, which has 25 winners from various industry sectors such as HDFC Bank, Flipkart, Tata Steel, Vodafone and Abbott India. In his keynote address, Fadnavis said that Indian corporates have an opportunity and responsibility in the changing investment climate in the country to create a developed nation. “We have the demographic advantage till 2035 because of young talent. The advantage will…

BPM companies are doing more end-to-end work like IT services and the latter are doing more and more BPM. Will they be one and the same in a few years? IT services is a very different business. Larger IT services companies are $8-10-15 billion. Their BPM component is $300-400 million, most of it through acquisitions. The largest pure play BPM is arguably $1.5 billion, including a couple of large acquisitions. Why is it that standalone BPM is relevant? First, in terms of integration between IT and BPM, in terms of risk, no client would want to provide all IT and BPM to one vendor. Second, for IT services there is only so much attention they can give to a $300-400 million division. They use BPM defensively while they try to…

A path is being created towards sustainable double-digit growth by reducing borrowing costs, initiating key reforms such as the bankruptcy code and GST, and pushing for creating infrastructure Budget 2016 was like dancing in a minefield. And the government did well to come out unscathed while delivering on its objective. The market had expected the Budget to provide growth impetus, strengthen PSU bank balance sheets, encourage private sector investment, aid the much-battered rural sector and, at the same time, not impose a detrimental tax regime. On all these counts, the government came out kings and queens, if not aces, given the limitations before it. The Budget was possibly themed on giving the infrastructure sector a big push, keeping taxation levels largely unchanged, and improving the ease of doing business. The…

With almost Rs 2,18,000 crore allocated for roads and railways, physical linkages are expected to improve significantly, which will help expand distribution across India, especially in rural markets, and reduce transit losses The Union Budget for 2016/17 is a pro-agriculture, pro-rural budget. The finance minister has highlighted agriculture and rural sectors as two of the nine pillars of this year’s Union Budget. The provisions for this year’s Budget are expected to revive rural consumption, which has been subdued for the past two years primarily due to poor monsoon and untimely rains, and which has had a detrimental effect on consumption. The move to create a unified agricultural market e-platform will benefit food-based FMCG companies, as this is expected to make procurement processes easier and more transparent compared to the APMC…

PAYMENT HISTORY • It accounts for 35 per cent of the total score • It is, therefore, important to be consistent with the payment of utility bills • All mortgage payments and credit card bills should also be paid by the due date • One needs to maintain a ‘no late payment’ status for at least seven years OUTSTANDING BALANCE • It comprises around 30 per cent of the credit score • Even if the debt amount is small, get rid of it • Credit score can also be affected by use of credit cards as well as having too many credit cards • The ideal thing is to use 20-30 per cent of the total credit available to you DEBT DURATION • The duration of the debt makes up…

STAY CONNECTED WITH US ON www.facebook.com/BusinessToday @BT_India COLUMNS A Budget for Elections 2017, Not the Economy The 2016 Union Budget is most probably aimed at the upcoming state elections in Uttar Pradesh and Punjab next year, says Rajeev Dubey businesstoday.in/ unionbudget-elections Excellent Budget, but Cess on Cars Not Justified Industry creates large employment from sales, but struggling due to low demand, says Maruti Suzuki Chairman R.C. Bhargava businesstoday.in/ unionbudget-marutisuzuki Budget 2016: Pros and Cons Marico Limited Chairman Harsh Mariwala points out the key positives and negatives in the Budget businesstoday.in/ unionbudget-marico PERSPECTIVES Vehicles That Escaped the Tax Knife The government has kept hybrids and electric vehicles out of the infrastructure cess and the new luxury tax businesstoday.in/automotiveindustry-hybrids Telangana vs Andhra: A Fiscal Tangle An overview of the budgetary positions of…

So, you’re on Facebook and you notice your batchmate from school is marrying his childhood sweetheart. What do you do? You like the post. Colleague partying in the Bahamas? You like the post, albeit grudgingly. Friend’s parent passed away? You can’t possibly like the post, even as an acknowledgement. Fortunately, the boffins at Facebook yielded and released ‘Reactions’ – five additional emotive icons to complement the oft insufficient or inappropriate ‘like’. Say hello to ‘love’, ‘haha’, ‘wow’, ‘sad’ and ‘angry’. You have probably already seen these in action on Facebook, over the past couple of weeks. And, in case you are wondering, the much-needed ‘dislike’ button didn’t make the cut – it was deemed too negative and problematic. There is a bunch of questionably designed emojis that allow us to…

ALL COMPANIES IRRESPECTIVE OF THEIR LOCATION OUTSIDE INDIA WILL BE CHARGED THE LEVY OF 6 PER CENT Just when digital advertising is inching towards the $1-billion mark in India, the Centre’s move to impose an “equalisation levy” on cross-border digital transactions will, to begin with, add at least `400 crore to its kitty. The social media has taunted it as the ‘Google Tax’ since the levy is on “specified services received or receivable by a non-resident not having permanent establishment in India, from a resident in India who carries out business or profession, or from a non-resident having permanent establishment in India”. The social media nomenclature comes from Google’s status as the largest platform earning from Indian advertisers – including a large number of very small firms – without paying…

A fillip in investment coupled with productivity gains from the reform process would enable the country to reach 11 per cent nominal GDP growth The industry normally views the Budget as a key policy document that goes beyond numbers, and underlines the future political and economic priorities. The current one is no exception. It focuses on two key areas – rural sector growth and infrastructure development. If these thrusts are successful, it can lead to the much needed revival in demand along with acceleration in growth. These apart, the Budget also emphasises on social sector spending, financial reforms and ease of doing business. Given its inclusive orientation, the Budget seems to have avoided any big bang benefit extension for the corporate sector. The Indian economy has performed relatively well in…

Kartick Maheshwari has been continually getting overseas calls for the past few days. Many of his US-based clients, including a number of private equity funds, have perked up following Finance Minister Arun Jaitley’s Budget announcement allowing 100 per cent foreign direct investment in domestic asset reconstruction companies (ARCS). Jaitley also announced that global investors will now be permitted to acquire 100 per cent of the security receipts (SRS) of specific distressed companies issued by the ARCS. Until now, they could invest only 74 per cent in such SRS, with the rest being held by domestic investors. And since domestic investors were rarely in a position to risk such investments, these SRS hardly found buyers. The Budget has also cleared up any confusion about the taxation burden from any recoveries accruing…

On 9 November 2012, after nearly five years of on-off talks, Diageo, the world’s largest alcoholic beverages company, made an announcement. It had reached an agreement with UB Group Chairman Vijay Mallya for acquiring a 53.4 per cent stake in India’s largest spirits company, United Spirits, or USL, for 11,667 crore. Mallya needed the money for his now-defunct Kingfisher Airlines. Ivan Menezes, the then COO of Diageo, and now its CEO, could barely contain his glee. “The acquisition of shareholding in USL is a significant milestone in Diageo’s strategy to build presence in the world’s fast-growing markets.” Under the agreement, Mallya would continue as chairman, in spite of his minuscule stake. Menezes, born in Pune and an alumnus of St. Stephen’s College and Indian Institute of Management Ahmedabad, said that…

Market stagnation After double-digit growth in the first decade of the 21st century, the Indian spirits market – estimated at 312 million cases currently – has been growing at 2-3 per cent by volume. So, growth for USL has to come from taking competitors' share – a much harder task. Intense competition USL has been losing market share in the top end to Pernod Ricard, and at the mid end to Allied Blenders Distillers (ABD). At the bottom end, it faces stiff challenge from the likes of John Distilleries and Khoday’s. Ability to manage the system Liquor in the country is a state subject and thus it is more an aggregation of 23 different markets rather than one national market. USL might miss Mallya’s ability to manage the political system…

USL: 3.99% of which 52.83% is pledged (so effective stake is 1.88%) 665.5 crore UB: 32.29% valued at Rs 6898.4 crore (of which 47.68% is pledged) – so effective wealth is 3,609 crore UBHL: 26.93% (of which 28.83% is pledged) 27.2 crore Mangalore Chemicals & Fertilizers Ltd: 21.9% (of which 26.65% is pledged) ` 87.3 crore UB Engineering- 40.7% valued at 5.5 crore Figures are based on public holdings in listed companies alone. Calculated on March 4, 2016 prices. Mallya’s holdings are calculated as on Dec. 31, 2015.UB Engineering data as on Sep. 30, 2015. Source: BSE…

HR hasn’t fallen out of favour in other countries, however. In Japan it is still the preferred track to the C-suite. And in India, my studies with colleagues suggest, it’s arguably the most powerful of all the functions. Indeed, across South-east Asia, top executives are investing in the training and development of employees and more-sophisticated systems, especially for hiring. Even in Europe, which has a talent glut, HR appears to be growing in influence as companies recognise the importance of organisational culture, knowledge management, and so forth. The US is the outlier. The main reason HR is more vital elsewhere is that organisational power goes to the group that deals with the biggest problems – an idea dating back at least to the great economist Alfred Marshall. Businesses in the…

One of the most interesting parts of the book is the explanation of the atomic composition of gold, and why such an atomic weight is a rare formation The book Going for Gold by author Nanda Menon is a book on gold, for gold and ‘buy’ gold. While one may debate about the view on gold, it is evident that Nanda is extremely passionate about gold and its investment case. The book contains some interesting facts and figures about gold as a commodity. The book attempts to put out a thesis by giving a perspective on aspects such as the history and psychology of gold, its consumption, macros (both global and local), rarity, demand and supply. It also delves into various other investment alternatives and positioning of gold as an…

On a bright Saturday morning, golfers teed off at the Tollygunge golf club to participate in the Kolkata leg of the LLOYD Business Today Pro-Am. The 18-hole, 70 par 100 acre all-season golf course, challenging for golfers of all skill levels yet rich in natural appeal, is an oasis of green nesting in the heart of urban Kolkata. A floodlit driving range and illuminated putting and chipping green give you an opportunity to hone your skills even after the sun has gone down. Played on the Stableford format with Double Peoria handicap, the event witnessed golfers sweating it out to compete for individual as well as team prizes. The winning team comprising Sharad Jhawar (Usha Carriers), Dasho Sonam Tshering (Royal Government of Bhutan), Lav Jhingan (Contemporary Brokers) and Satbinder Singh…

By the time Finance Minister Arun Jaitley’s Budget speech ended, hopes of millions of tax payers were dashed. While not many were expecting a change in tax slabs, there were many who were looking forward to a rise in the Rs 1,50,000 deduction limit under Section 80C. None of this happened. The middle class did not get any major tax benefits. On the contrary, more cesses were announced. For instance, with the levy of 0.5 per cent Krishi Kalyan cess on all taxable services (the service tax rate is 15 per cent), a large number of things, from eating out to gym membership, will become costlier. Not only restaurant bills, even readymade and branded garments of more than Rs 1,000 will become more expensive. So, the next time you go…

What comforted investors was a simultaneous emphasis on quality, realism and credibility. Quality and effective consolidation not only disciplines the government, it also keeps inflation impulses in check Some budgets please only the markets, some only the masses, and then there are some that mantain a fine balance between both. And Budget 2016 is one such effort. Not only did the government manage to adhere to the fiscal deficit target of 3.5 per cent, it also increased allocation for infrastructure and medium-term rural schemes, while abstaining from measures that may have led to transitory growth spurts. Getting the Budget arithmetic correct was difficult this year, with markets and rating agencies keenly awaiting both the overall fiscal deficit reading as well as the underlying quality of the Budget. On the expenditure…

There has not been a single REIT listing in India because of the ambiguity over DDT. Now, REITs will be able to realise their full potential One of the major areas of focus in the Budget was “affordable housing”. Some of the proposals by the finance minister are: 1- 100 per cent deduction on profits to developers opting for flats up to 30 sq. metres in Chennai, Delhi, Kolkata or Mumbai and 60 sq. metres in other cities, approved between June 2016 and March 2019 and completed in three years. MAT (minimum alternate tax) will still be applicable. 2 Service tax exemption on construction of affordable houses up to 60 square metres. Effect on Realty: The supply of flats up to 30 sq metres in Chennai, Delhi, Kolkata and Mumbai…

The itch to shop and splurge is known to overwhelm even those who are in ‘control’ of their lives. But it is supposed to be more true of women than men. When it comes to investments, however, women best prefer to leave it to their fathers or husbands – a decision that they are often found to regret later. Despite that, according to statistics, only about 30 per cent of Indian women take money decisions. This, therefore, raises a question. Indian women are traditionally good managers, competently fulfilling their responsibilities both at work and home. But are they doubtful money managers? Well, the answer, perhaps, lies in their love for spending, because taking charge of one’s financial life is not about how much one earns, but how well one saves,…