5G, electronic vehicles, Bajaj’s e-scooter & faceless e-assessment.
Jennifer Aniston’s F.R.I.E.N.D.S reunion post went viral super fast… reminded us of 5G speed. Also, the future is here e-scooters and automated E-assessment!
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Chetak is back… Bajaj relaunched its hit scooter, but…. on an all-new eco-friendly road. India’s iconic scooter in its new avatar will be launched in Pune and Bangalore and is expected to roll in Europe as well by next year. It is expected to cover 85–95 Km on a 5-hour charge.
Let’s talk numbers… in the last 6 years, India sold only around 8000 EVs. Well, that’s sad. But what’s exciting is the newer models auto cos are developing. Luxury automakers also have
something to offer here, they are launching hybrid products.
Here are some interesting EV startups in India:
Green carpet …. Government to nudge Indians to spend on EVs announced an income tax exemption of INR 1.5 lakh for buying electric vehicles on loan in Budget 2019. Extras… the GST on EVs is slashed from 12% to 5%… Woohoo!
‘E’novation… The government has launched a faceless e-assessment. Where a taxpayer no longer needs to interact with the assessment officer in the event of an Income Tax notice. There is 8 e-assessment regional center and the national e-assessment center can assign the case to any of them through an automated allocation system. Since all communication would be done electronically, it will ensure faster disposal of cases.
Got an Income Tax Notice? Our expert CA’s are here to help.
Superfast… Buffering… The 5G launch is not matching its network speed. What’s the hiccup now? ISRO had proposed a 26GHz band for mobile services to ensure 5G services do not interfere with the satellite operations. The Department of Telecom accepted ISRO’s proposal and forwarded it to the International Telecommunication Union (ITU).
So wait & watch? Yes, Pretty much… ITU is an international body under the United Nations that sets a global benchmark for wireless services. They will hold a conference next month in Egypt to finalize DoT’s proposal. If accepted, the 5G setup cost will shoot up 4–5 times, since telecos will have to set up a higher number of base stations now.
5G hype… Not only is the 5G super duper fast, but it has wider use cases as well. The earlier generations of wireless were restricted only to mobile operators, 5G can be utilized for better connectivity for sectors like energy, manufacturing, logistics, etc and accelerating IoT. The full economic impact of the 5G wave is expected to generate $12 trillion dollars of goods and services. Exciting, isn’t it?
Not Lost in Translation… Huawei is investing strongly in Indian markets. The Chinese company is the world’s largest maker of 5G components. The U.S has warned nations to boycott Huawei, alleging that the company of selling data to the Chinese government and helping them spy on nations. Well, tech trumps politics… Pun intended! ;p
Have to wait… The handset makers are ready with 5G smartphones but skipped showcasing their creations in the 3rd edition of India Mobile Congress or IMC… It seems the 5G wave is still distant from India, considering the spectrum auction has yet not reached TRAI for assessment. Also, do telecos have money to bid for 5G?
Bill overdue… No sugar coating here, the telecos in India are stressed. The DoT is working on a plan to provide a 2 year holiday on payment of nearly INR 40,000 crore of spectrum dues out of over INR 7 Lakh crore of sector’s debt. All telecom players are stressed with debt payments. Even Jio is asking for relief…
Okay, now please pay… says Reliance Jio. From last week onwards asked its users to pay 6p/minute for calls made to other networks as IUC i.e Interconnection Usage Charge. Jio asking us to pay! Is it Heartbreaking?!