Episode Details

Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business.

It's Friday, February 14, 2025. This is Nelson John, let's get started.

Top Indian business schools are witnessing a resurgence in hiring activities, despite uncertainties stemming from global political developments. This rebound is attributed to the robust growth of India’s economy, which has bolstered corporate confidence and led to an increased demand for management graduates. Companies across sectors such as technology, finance, and consulting are actively recruiting, offering competitive packages to secure top talent reports Devina sengupta & Pritista Bagi. However, global political events, including trade tensions and policy shifts, have introduced elements of unpredictability. These developments have prompted organizations to reassess their international strategies, potentially influencing the nature and volume of roles offered to graduates. Despite these challenges, the overall hiring sentiment remains optimistic, with firms focusing on candidates who can navigate complex global scenarios and drive growth in uncertain times. While global political dynamics present challenges, the strong domestic economic environment ensures that top Indian business schools continue to experience healthy hiring trends.

Finance Minister Nirmala Sitharaman introduced the Income Tax Bill 2025 in the Lok Sabha yesterday. The much-anticipated new Bill will not introduce new taxes but only simplifies the language of the existing Income Tax Act of 1961 and enhances clarity for taxpayers. 

Some of the key highlights include: 

Reduction of Obsolete Provisions: Numerous outdated and redundant sections have been eliminated to streamline the tax code.

Consolidation of Sections: Related provisions, especially those concerning salaries and deductions, have been grouped together for easier reference.

Introduction of ‘Tax Year’: The bill introduces the concept of a “tax year,” aligning it with the financial year to reduce confusion.

Taxpayer’s Charter: A charter outlining the rights and obligations of taxpayers has been introduced to promote transparency and trust.

Faceless Jurisdiction: Provisions have been made for faceless assessments to minimize direct contact between taxpayers and authorities, reducing potential biases.

Enhanced Compliance Measures: The bill empowers the Central Board of Direct Taxes (CBDT) to establish tax administration rules and implement digital tax monitoring systems without requiring frequent legislative amendments. 

Those were some of the key highlights of the new income tax bill.. Now this Bill, represents a significant step toward modernizing India’s tax framework, aiming for greater simplicity, transparency, and taxpayer-friendliness. The new provisions are set to take effect from April 1, 2026, providing taxpayers ample time to adapt to the changes. 

Quantum computing is making big leaps forward, but most businesses aren’t paying attention because they’re busy with other tech priorities like AI. A startup called PsiQuantum, based in California, aims to build a fully functional quantum computer by 2027. Unlike other companies, they are using existing computer chip factories to speed up the process. Despite these advancements, a poll at the Wall Street Journal’s CIO Network Summit revealed that none of the attending tech executives were actively exploring quantum computing applications for their businesses. Many are currently more focused on areas like artificial intelligence and adapting to evolving technology policies. However, India is making significant strides in quantum computing through government-led initiati