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Noted economist and chairman of fifteenth finance commission NK Singh on Saturday said that India needs to rethink existing principles that guide country’s fiscal policy, including debt, which is expected to remain high in the post pandemic world."The global average debt post-pandemic now approaches 100% and it is projected to remain above pandemic levels for about half the world,” Singh said.He was speaking at Kautilya Global Award 2023 and Fiscal Heritage award by TIOL, a platform for deliberations on public policy and taxation.Singh along with former finance secretary Vijay Kelkar was conferred the Fiscal Heritage award. Leading economist professor Jagdish Bhagwati was conferred Kautilya Global award.Defending the criticism by some economists and concerns raised about the high debt by the rating agencies, Singh said that rating agencies do not look at designated debt, but the government debt, which in this context concerns the states and the centre.He said that countries need to think what kind of debt numbers and new principles would incentivize growth. India’s total public liability increased marginally to Rs 149.86 lakh crore by the end of December 2023 from Rs 147.19 lakh crore at September-end, said the latest public debt management quarterly report released on Thursday. Public debt accounted for 90% of total gross liabilities during the third quarter of this financial year. India’s gross liabilities went up to Rs 160.69 lakh crore at the end of December 2023 from Rs 157.84 lakh crore on September-end.Talking of the next age reform noted economist Kelkar said that India needs to look at the reforms in its taxation, especially the goods and services by lowering the tax slabs and relooking the financing of its urban local bodies."India needs the next level reforms in GST...We need to.have lower tax slabs and if possible, single GST slab which will minimise tax litigation," Kelkar said.

The national capital on Saturday recorded a maximum temperature of 35.1 degrees Celsius, normal during the season, according to the India Meteorological Department. The city recorded a minimum temperature of 20.2 degrees Celsius, normal during the season, it said. The humidity was 46 per cent and 28 per cent. The weathermen have predicted strong surface winds during the daytime. The maximum and minimum temperatures are likely to settle around 36 and 19 degrees Celsius, it said. Delhi's Air Quality Index (AQI) was recorded in the "moderate" category with a reading of 166, according to the Central Pollution Control Board (CPCB) at 9 am. An AQI between zero and 50 is considered "good", 51 and 100 "satisfactory", 101 and 200 "moderate", 201 and 300 "poor", 301 and 400 "very poor", and 401 and 500 "severe".

Wipro on Saturday said its chief executive officer Thierry Delaporte was leaving the company effective immediately “to pursue passions outside the workplace”. He will be replaced by the Americas head of the company Srini Pallia, the company said in a notification to the exchanges.“I’d like to express my gratitude to Thierry for his leadership at Wipro. The changes he implemented have better positioned us for the future. We have optimized our structure, enhanced our leadership, prioritized partnerships, and improved our overall efficiency,” the company’s chairman Rishad Premji was quoted as saying.Delaporte, who took over as the CEO and managing director of the global information technology, consulting and business process services company on July 6, 2020, had joined the company from Capgemini group. He had served as the CEO and member of its executive board of Capgemini as well during his 25-year-long stint at the company.He was preceded by Abidali Neemuchwala, who had left the leadership role on June 1, 2020.Delaporte’s exit comes at a time when Wipro has been criticised for continued underperformance. The company has also seen a series of high profile leadership exits. In September last year, the company’s chief financial officer Jatin Pravinchandra Dalal had stepped down and was replaced by Aparna C Iyer. Dalal had a 21-year-long career at the company before calling it quits.

The Delhi Metro Rail Corporation Saturday said more than 60 stations on its network have been co-branded with reputed corporates, Public Sector Undertakings and media companies, among others, to offer them publicity opportunity while earning revenue for DMRC. The stations include eight on Red Line, 14 on Yellow Line and 25 on Blue Line. DMRC officials said that around 150 metro stations are still available for co-branding across the network. "A total of more than 60 metro stations have been cobranded so far on the DMRC network. These stations are spread across the network and the popularity of this scheme reflects the potential of the co-branding scheme. "A number of very reputed corporates, PSUs, media companies, educational institutions have already associated themselves with the DMRC through this scheme," a senior DMRC official said. Almost all DMRC stations are at prominent locations near residential areas, markets, educational institutions etc. Therefore, branding opportunities at these stations provide great visibility to those who associate with the DMRC through this scheme, the official said. "Presently, about 150 metro stations are still available across the network which can be co-branded," he added. For PSUs and other government establishments, the DMRC negotiates directly with them on the one-on-one basis as a result of which several prominent PSUs, banks etc. have already availed this facility and co-branded with stations, the official said. After the Covid-19 pandemic, the DMRC has laid great emphasis on such revenue generation avenues, especially since last year. The DMRC successfully organised a stakeholders' interaction session on co-branding rights and collaboration opportunities in June 2023, he said. The session witnessed active participation from representatives of over 30 organisations, including media agencies, and public and private organisations with establishments in the vicinity of metro stations, the officials added.