Finance Minister Nirmala Sitharaman unveiled the Interim Budget today where her speech covered all the aspects right from entrepreneurship opportunities for electric vehicles, credit guaranteeing schemes, highlight on the PM Jan Dhan Yojana and a lot more. However, once again, cryptocurrencies missed being a part of the speech.

Harsh Goenka, chairperson of the RPG Group, expressed his approval with the Budget speech. In what can be called a ‘filmy’ take on the budget, he took to X stating, “#Budget2024 is a Fighter that tames the Animal of recession; is a Gadar against poverty and friendly for India’s Jawaan ensuring that no one is left 12th Fail. With measures on inclusion, education and employment for youth and welfare of the masses, Bahadur worked for Salaar FM Nirmala Sitharaman.”

This does not end here. Goenka once again took to X and showcasing his ‘spiritual’ side highlighted, “#Budget2024 from FM SithaRAMan fRAMes a comprehensive progRAM to RAMp up the economy! Targeting structural issues of fiscal prudence, infrastructure and inclusion - no dRAMa, no RAMbling, clearly setting the country’s direction  for growth - recipe for sukh, shaanti aur aaRAM! Jai shree RAM!”

Lok Sabha elections are all set to commence between April and May and once the new government is elected, the full Budget would be presented in July. 

<strong>Read More:</strong> <a href="https://www.storyboard18.com/quantum-brief/budget-2024-the-fiscal-deficit-target-was-better-than-envisaged-prudence-scored-a-decisive-victory-anand-mahindra-21543.htm">Budget 2024: The fiscal deficit target was better than envisaged. Prudence scored a decisive victory: Anand Mahindra </a>



Harsh Goenka: Budget 2024 is a Fighter that tames the Animal of recession

Harsh Goenka, chairperson of the RPG Group, displayed his filmy and spiritual take on the recently concluded Interim Budget which was presented by the finance minister Nirmala Sitharaman.

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Greater Chennai Corporation removes 460 unauthorised hoardings

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Representational image via Unsplash

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Is Ajmera Group the brand behind the tragic ad hoarding collapse in Mumbai?

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Broadcast Audience Research Council (BARC) India has announced the appointment of Dr Bikramjit Chaudhuri as its new Chief of Measurement Science and Analytics. 

He will succeed Dr Derrick Gray, a veteran audience measurement and advanced analytics executive, who has been a member of BARC India for six years.

Dr Bikramjit Chaudhuri (Bikram) is a Ph.D. from IIT Bombay and holds a Master of Statistics degree from the Indian Statistical Institute, Delhi. He comes in with experience spanning over three decades in the areas of Statistics, Stochastic Modelling, Market Measurement, Consumer Segmentation, AI and ML, Demand Forecasting and Big Data Analytics. He has several research papers, publications, and patents in these aspects under his belt.

Bikram is currently associated with the Datamatics Group of Companies as the Global Head of Data Science and Advanced Analytics, since 2016. Prior to Datamatics, Bikram has held multiple leadership roles, and has led large teams of senior talent across levels at KPMG, Nielsen and ZS Associates.

Chaudhari said, "I am excited to join BARC India as the Chief of Measurement Science & Analytics. It will be an absolute honour and privilege to be a part of a multitalented and versatile team that runs the largest Audience Measurement system in the world, in one of the most complex multimedia markets. I am looking forward to leveraging my deep expertise and diverse experience to further evolve the current measurement system to meet the growing needs of the industry. Looking forward to an exhilarating journey and a fulfilling association with BARC India."

Nakul Chopra, Chief Executive Officer, BARC India, said, “Derrick has been a wonderful partner, a mentor and a friend to numerous individuals and industry peers. We congratulate him as he embraces his next adventure and wish him nothing but the absolute best. In his stead, I’m happy to welcome Bikram to the BARC India family. He brings deep knowledge and rich expertise in Big Data, Research and Business Intelligence. I’m confident that with his strategic vision and passion for excellence, he will not only uphold the legacy Derrick leaves us with, but also help navigate our future in this fast-evolving environment.”



Acer Group, a global leader in IT and technology solutions, announced its entrance into the consumer electronics market with the launch of Acerpure brand in India at a launch event in Bengaluru. 


The launch event saw the presence of Andrew Hou, president of Pan-Asia Pacific Operations at Acer Group; Harish Kohli, president and managing director of Acer India, Sudhir Goel, chief business officer, Acer India; Stanley Kao, president, Acerpure Inc.; Vasudeva. G, director, Acerpure India, and Sunil Vachani co-founder and executive chairman from Dixon Technologies.

 

At the launch event, Acerpure unveiled its flagship product, Acerpure TV, featuring state-of-the-art technology and a viewing experience. Launched in four sizes 32, 43, 55, and 65 inch, Acerpure TVs boast enhanced contrast, deeper blacks, and dazzling brightness, stated the company.

 
Additionally, Acerpure showcased a diverse range of consumer electronics products, including Air Circulator Fans, Water Purifiers, Hand-held Vacuum Cleaners, two robotic vacuum cleaners, Hair Dryer, and Hair Styler. Acerpure India plans to diversify its offerings, introducing a range of products including, refrigerators, air conditioners, washing machines, and more.

 

Another highlight of the event is an announcement on a Make-In-India partnership between Acerpure and Dixon Technologies, the leading Indian electronics manufacturer, wherein Dixon will undertake the manufacturing of Acerpure products in its facilities starting with state-of-the-art TVs. Leveraging local manufacturing capabilities, this collaboration is not only set to empower local talent but also catalyze technological innovation and foster job creation.

 

Andrew Hou, president of Pan-Asia Pacific Operations at Acer Group said, "We are excited to launch Acerpure in India. The Indian market holds immense potential for Acerpure's growth and innovation. With our focus on technological excellence and sustainability, we are well-positioned to meet the evolving needs of Indian consumers. As we venture into this new market, our dedication to innovation remains unwavering. Acerpure represents more than just a product launch; it signifies the dawn of a new era in home appliances and consumer electronics with a key focus on Make-In-India.”

 

Harish Kohli, president and managing director of Acer India, expressed his enthusiasm about the launch, "As we embark on this transformative journey with Acerpure's debut in India, we are exhilarated by the opportunity to contribute to the nation's burgeoning consumer electronics market. This milestone signifies our unwavering dedication to innovation and our heartfelt commitment to the vibrant Indian consumer electronics landscape. Through this collaboration with Dixon Technologies, we are poised to usher in a wave of locally manufactured products, aligning seamlessly with the Make in India initiative. This partnership embodies our shared vision of fostering economic growth and technological advancement within the nation. Together, we look forward to crafting cutting-edge solutions that resonate with the diverse needs and aspirations of Indian consumers, empowering them to embrace a brighter, technologically enriched future."

 

Sunil Vachani, co-founder and executive chairman of Dixon Technologies, expressed, “Through our enduring partnership with Acer, we have consistently upheld the values of local manufacturing and innovation. The introduction of Acerpure and our expanded collaborative efforts represent a significant stride towards enhancing India's self-sufficiency and global competitiveness in the electronics sector. Aligned with the 'Make in India' initiative, our goal is to manufacture premium consumer products for both domestic and international markets, thereby stimulating economic growth and fostering innovation while nurturing local talent. This partnership underscores our unwavering commitment to delivering high-quality, Made in India products, marking a notable milestone in our relentless pursuit of excellence."


<strong>Read More:</strong> <a href="https://www.storyboard18.com/brand-makers/deloitte-generation-ai-is-creating-sustainable-workloads-and-increasing-productivity-31741.htm">Deloitte: Generation AI is creating sustainable workloads and increasing productivity</a> 

Acer Group launches Acerpure; marks its entry into consumer electronics category

Netflix and the NFL, the most-watched sports league in the US, have announced a three-year deal to stream games on Christmas Day. The streaming giant will carry two games this year and at least one game in 2025 and 2026.  It is reported that Netflix will pay less than $150 million per game.

Netflix began airing NFL programming last year with the series “Quarterback." A series on wide receivers will premiere this year. It also live streamed the Tom Brady roast on May 5 and will have a 10-part documentary series later this year on Jerry Jones and his ownership of the Dallas Cowboys.

Netflix's foray into carrying live sports began last year, but they were exhibition events in golf and tennis. “People love football and we do, too. These games go with our big-event live strategy of all the live programming we have done in this last year — like The Tom Brady roast, the Netflix Slam and the upcoming Jake Paul vs Tyson boxing match. We’re excited about having the NFL conversation around Christmas Day,” said Bela Bajaria, Netflix’s Chief Content Officer.


<strong>Read More:</strong> <a href="https://www.storyboard18.com/digital/in-numbers-netflixs-ad-supported-plan-now-has-40-million-monthly-active-users-31655.htm">In Numbers: Netflix’s ad-supported plan now has 40 million monthly active users</a>

Netflix continues its bet on live events, signs deal to air NFL

It was in the year 1970 when Durex first got into advertising globally. Fast forward to 2010, they were acquired by Reckitt Benckiser, and since then, most of the advertising campaigns from the brand have been known to highlight sexual wellness and a healthy sex life.


<img src="https://images.storyboard18.com/storyboard18/2024/05/Untitled-design-2024-05-16T083008.624-2024-05-9dbc24264b6b3d3af0cf5c7e2bb77256.jpg" alt="" width="938" height="938" class="alignnone size-full wp-image-31618" />


On May 13, Durex launched a campaign on Durex Lubes, #ExplorersWanted, where human anatomy was used as a bodyscape. As Anusheela Saha, national creative director and head of design, FCB India, explained, “A lot of Durex consumers did not know what Lubes were. Hence, the market penetration of Lubes has always been very minimal. Lubes are a product for a specific need, but we just wanted to explore Lubes in a new way, maybe as a tool for foreplay or as a tool to spice it up for couples’ sex life.”

Saha talks about the #ExplorersWanted campaign, marketing the brand, and more.

<em>Edited Excerpts</em>

<strong>Could you explain the genesis of the campaign?</strong> 

When we got the brief, we came across a very interesting data point. We got to know two things. About 70 percent of the Indian married couples were open to experimentation in their sex lives.

A lot of Durex consumers did not know what Lubes were. Hence, the market penetration of Lubes has always been very minimal. Lubes is a product for a specific need, but we just wanted to explore Lubes in a new way, maybe as a tool for foreplay or as a tool to spice it up for couples’ sex life. 

And that's when we came upon the term ‘Explore’. How do we explore what's already there? The moment I heard ‘Explore’, John Mayer's song was going on in my head, which said, ‘Your body is my wonderland’. And from exploration, we actually came to the landscape.


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The song itself lends itself to such gorgeous imagery, of exploration between a couple and therefore takes lovemaking to a different kind of exploration. And that's what we wanted to do with Lubes. So, ‘Wonderland’, which John Mayer calls, became ‘Bodyscapes’. 

We actually thought of using human anatomy as bodyscapes and almost like how we would explore things. And, when we are going on vacation, we have favorite spots to visit. For example, Cape Town, Kyoto and all these amazing vacation spots were given amazing names.

So, Kyoto actually became K Y O T O E. You know, and Cape Town became NAPE TOWN. The Czech Republic became the CHEST REPUBLIC. It was quite an exploratory trip that we had when we were doing the creative and hats off to the brand team for actually buying a concept like this, Because, whoever's seeing the work, they're all saying, ‘This is so unlike the regular work on Durex’. This is because, from the beginning, it was thought of as pieces of art and it is almost a surreal journey into lovemaking and foreplay.

Therefore the hashtag ‘ExplorersWanted’. 

<strong>Could you explain the media mix and marketing mix for the campaign?</strong>  

This product has a very limited market penetration. There are only very few people who would have heard or who would have known the existence of Lubes as a product.

Therefore, the media mix that we went with was specifically digital, and not meant for television. And when we kind of came up with the main idea of ‘Bodyscapes’ and ‘Explorers Wanted’, what we actually thought could be an interesting way of looking at it and to give it a different kind of breadth was to look at travel influencers.

That's when we approached Savi and Vid (@bruisedpassports). We also approached Daizy and Ankit (@the.vogue.vanity). Then there was Saloni Chopra and Rahul Bhattacharya (@unplannedby) and they are well known travel influencers with great following. We gave them the brief that if you were to go on a vacation and you were to go and explore your favorite spot, how would you do it?

Therefore, we launched teaser campaigns, which actually have the couple probing the audience to guess what could be a favorite spot. Somebody says, Cape Town and in the next one, Nape Town bit of the edit of the film plays.

<strong>We are living in a very polarised environment where anything or everything pertaining to crucial subjects receives backlash or criticism. Were there any sort of inhibitions or challenges during the making of this campaign? </strong>

There were no inhibitions. The brand team was fabulous for picking up such a subject and giving it to us. There was almost a free hand to do a lot with the filmmaking, because this is filmmaking at its very granular best.

What we did face a little bit of a challenge was with the strict guidelines put down by Meta. Hence, we had to put it in the guardrail and yet make bodyscapes work. So, that was very tricky because partial nudity or nudity on Meta is not kind of permitted.

So, how we could play the game was tricky. But, as you can see, the campaign is very much live on Instagram and is getting lots of love. So, we managed to kind of go past it in a different way.

<strong>Let's be honest. The word ‘Sex’ is still considered a taboo in India. From your observation, how have discussions around this subject improved in India?</strong>

Whether it is India or abroad, sex will always be considered a taboo topic.

In some places, it will be given a little bit more leeway. In more conservative countries like India, it will be a lot more restrictive. But, when we approach a brand like Durex, we know what is the purpose of the brand to exist. And, we actually have to keep these things in mind.

So we went ahead with an idea, which we knew that a lot of people may say, ‘Oh my God, it was just too bold.’ ‘Oh my God, did they really have to go through this route?’ ‘Was there no other way to do a Lubes commercial?’ But we believed in an idea and we actually treated lovemaking like a piece of art.


So, when you treat something, which is taboo and give it that breadth in the form of a piece of art, then it becomes very acceptable because when we put the lens of art, then society seems to be a bit more acceptable to a lot of things because it's art.

In no way, you would see anything cringeworthy in the piece of work. It's just so liberating to see it as a canvas of art actually. 

<strong>Since when has FCB India been handling the mandate of Durex?</strong>

We don't work on Durex as a brand. This was actually a one off project. But, it's just that they were kind of struggling to crack something on Lubes for quite some time. And they had heard of the kind of work that we do.

So they reached out to us. We went armed with concepts and this was one of the concepts they picked up. We can all see how it looks now.


<strong>Read More:</strong> <a href="https://www.storyboard18.com/quantum-brief/storyboard18-exclusive-dettol-and-durex-maker-reckitt-benckiser-india-calls-for-media-pitch-7859.htm">Storyboard18 Exclusive: Dettol and Durex-maker Reckitt Benckiser India calls for media pitch</a> 

When a taboo topic is given the shape of an art, then it becomes acceptable: FCB India’s Anusheela Saha

Spice Money has announced the launch of its VIP Program, designed to provide a four-fold exclusive benefit package to its network of 14 lakh Adhikaris. This program is tailored to enhance their experience and drive growth in their businesses. This initiative in the segment is designed to offer premium benefits, personalized assistance, and exclusive earning opportunities, ensuring that high-transacting Adhikaris receive exceptional service, support, and priority attention. 

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This program aims to identify and reward the top-performing Adhikaris(Merchant)by providing them with a clear path to increased earnings and enhanced services. This initiative will lead to the loyalty of Adhikaris, ensuring their commitment to the Spice Money platform through exclusive benefits and additional earning opportunities. Any Adhikari (Merchant) looking to advance within the Spice Money network can join the VIP Program.

<strong>Key Features of the VIP Program:</strong>

·Transactional Benefits: Adhikaris enrolled in the VIP Program will enjoy additional commissions on core products such as Aadhar-based withdrawals AePs, DMT, and financial services products like opening of CASA and consumer loan products.

·Care Benefits: VIP Adhikari's will receive special care and support due to their high transaction volumes, ensuring seamless operations and maximizing transactional volumes.

·Discounts on Services & Hardware: The program offers discounts on hardware, including the change of biometric devices as per UIDAI guidelines as an industry-wide change in the ecosystem, leading to a reduction in fraud.

·Personal Benefits: Spice Money is also committed to offering personal benefits such as insurance and scholarships for Adhikari's children, providing a holistic approach for a Nanoprenuer to grow their business

The VIP Program is open to all Adhikaris aspiring to advance in their Spice Money journey. Adhikaris can choose from three levels of subscription plans, Basic, Advance and VIP plans starting at Rs. 199 as an introductory monthly price, tailored to meet varying needs and preferences. 

Dilip Modi, Founder & CEO, Spice Money, said, “The VIP Program is a testament to our commitment to acknowledging and rewarding the outstanding performance of our top Adhikaris. This initiative provides them with a clear pathway to increased earnings and superior services, aligning with our mission of fostering financial inclusion and empowerment in emerging India.”

Kuldeep Pawar, Chief Marketing Officer, Spice Money, said, ”I am thrilled to introduce our VIP Program, another game-changing initiative from Spice Money tailored to elevate the journey of our high-transacting Adhikaris. This program not only recognizes the exceptional performance of our top Adhikaris and rewards it but also enhances their experience with exclusive benefits and personalized services. This initiative highlights our unwavering dedication to empowering our partners and revolutionizing rural banking in India”

Spice Money launches VIP Program to scale up its network of 14 lakh rural merchants

"The brands have something to lose even though it's not their fault." 

On May 13, an illegal hoarding came crashing down during a sudden dust storm and unseasonal rain in Mumbai. The incident claimed 14 lives. A case has been registered against the owner of Ego Media Private Limited, Bhavesh Bhinde, who is currently absconding. But advertising veterans say that accountability and responsibility should go further as the menace of illegal ad hoardings has long plagued Indian cities and towns.   

Read their candid views here. 

<strong>Bobby Pawar, former chairman and chief creative officer, Havas Group</strong>

The billboards on top of buildings, on the side of buildings. How well are they installed? Has anybody checked? This incident brings all of this into question. 

Unfortunately, the apathy in this country is so strong, but some rules need to change. There needs to be governance on these aspects. Because like it or not, they're constructed things. And there needs to be a safety certificate for all of these.

Otherwise, who knows what will happen next time. If outdoor people don't do it, the agencies and marketers need to say, “We need to understand that billboards are safe. It is certified to be safe before we put anything up.” Just imagine, if there was a baby oil messaging on the billboard. And it falls and kills a few mothers. The brands have something to lose even though it's not their fault.

All of us need to work towards the betterment of the society we live in. In a civilized society, these things shouldn't happen because this is negligence.

Read More: <a href="https://www.storyboard18.com/special-coverage/mumbai-billboard-collapse-scope-of-disaster-management-act-in-providing-accountability-and-relief-31475.htm">Mumbai billboard collapse: Scope of Disaster Management Act in providing accountability and relief</a>


<strong>Sandeep Goyal, managing director, Rediffusion</strong>

Random outdoors (especially the illegal ones) are leading to visual pollution - making our cities look ugly and dirty. This mushrooming of hoardings everywhere is also a serious traffic hazard and now as we have seen a life hazard.

<strong>KV Sridhar, global chief creative officer, Nihilent Limited</strong>

Agencies have nothing to do, and they will only put out the message. The owner of the outdoor hoardings is at fault followed by the government agencies, which have given licenses are at fault. Illegal hoardings are rampant in Bombay because of the cost and money which is involved. Hoardings followed by trees are the first casualty of any cyclonic effect that has happened in Mumbai.

No permission should be given to construct such large hoardings without testing their ability to withstand the calamities. And some standards need to be there.

Delhi has banned outdoor hoardings. Then, people found a way of advertising in public places like malls etc. Delhi is much better in terms of organized outdoor advertising as compared to Bombay. Delhi and many cities in the world have shown us the way as to how to manage messaging. 

The issue is safety, people and then the environment. Any illegal activity happens with bribery and then greed for money.

Read More: <a href="https://www.storyboard18.com/special-coverage/mumbai-ad-hoarding-collapse-regulatory-machineries-like-ooh-association-have-failed-to-recognise-importance-of-public-safety-says-ad-veteran-31483.htm">Mumbai ad hoarding collapse: “Regulatory machineries like OOH Association have failed to recognise importance of public safety,” says ad veteran</a>


<strong>Durba Mandal, head - OOH business, Cheil India</strong>

The collapse of the Billboard in Ghatkopar, Mumbai, is indeed very unfortunate which should have never happened. First and foremost accountability needs to be fixed without fear or favour.

Over the years, the OOH industry has become more regulated than before, but an incident like this is surely an indication that we have a long way to go. Enforcement of existing regulations is the key to avoiding such situations in future.

This incident has become national news with authorities at the highest level taking stock of the situation. The local authorities of metropolitan areas would certainly go for an audit. 

There could be a possibility of more inventory being declared unsafe, creating a shortage of legal and safe inventory. Approvals on upcoming media may also be relooked by authorities. Other metro cities might also take note and issue safety notifications or audits in their area.

Considering that campaign planning for H2, including the festive season is underway, the new regulations can impact in a big way. 

Read More: <a href="https://www.storyboard18.com/how-it-works/mumbai-illegal-hoarding-collapse-bmc-to-take-legal-action-against-ad-agencies-31392.htm">Mumbai “illegal hoarding” collapse; BMC to take legal action against ad agencies</a>


<strong>Agnello Dias, co-founder, Spinach Experience Design</strong>

My take on ANYTHING illegal, leave alone illegal hoardings, is that they should not exist.

Normally hoardings do not have high ROI in national marketing campaigns so at best they are a support medium to the mainstream media. But some places, like Mumbai, have extremely high local purchasing power and therefore it leads to rampant erection of hoardings with disregard to all regulatory norms. This has to be strictly monitored and controlled exactly the way one would control any other potentially dangerous industry.

I feel the impact on the ad industry is peripheral and is definitely not worth the risk to lives and property.

It’s largely legacy and is perhaps more prevalent in the centres that have had a long cinematic legacy like Chennai, Mumbai as it is an industry that has traditionally seen hoardings as the main medium. Today it continues more as a legacy habit than a real brand-fronting medium.

<strong><em>#FreeOurSkylines - Fight against illegal ad hoardings: A terrible tragedy struck on May 13 after a 100-foot-tall illegal billboard fell at a petrol pump in Ghatkopar during dust storms and unseasonal rains in Mumbai. The killer hoarding caused the deaths of over a dozen people and injured many others. The catastrophic incident outraged citizens who have been dealing with the menace of illegal ad hoardings. The people don't want just answers but solutions, as they turn to civic authorities, advertising agencies, industry bodies, brand marketers, and media owners, to take responsibility and fight against the menace of illegal advertising hoardings. So speak up and join the #FreeOurSkylines movement. Write to us at Storyboard18@nw18.com with your concerns and views, and let’s make our cities safer together.</em></strong>

Read More: <a href="https://www.storyboard18.com/how-it-works/eknath-shinde-directs-bmc-to-audit-and-remove-dangerous-hoardings-in-mumbai-31432.htm">Eknath Shinde directs BMC to audit and remove dangerous hoardings in Mumbai</a>



"Imagine if there was a baby oil messaging on the billboard. And it falls and kills a few mothers"

BAJAJ, a consumer appliance brand, has released a CGI video, an extension of the ongoing multi-media campaign for its air cooler range. 

Set in Delhi's Connaught Place, the brand’s CGI ad campaign sees people shielding themselves from the scorching sun on a bustling street, stated the company. While the extreme heat drains one and all, a larger-than-life BAJAJ air cooler emerges from a billboard and delivers a strong gush of refreshingly cool air. 


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transform: translateX(16px) translateY(-4px) rotate(30deg)"></div></div><div style="margin-left: auto;"> <div style=" width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"></div> <div style=" background-color: #F4F4F4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"></div> <div style=" width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"></div></div></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style=" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"></div> <div style=" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"></div></div></a><p style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;"><a href="https://www.instagram.com/reel/C6vRdVJhtcn/?utm_source=ig_embed&amp;utm_campaign=loading" style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none;" target="_blank" rel="noopener">A post shared by Bajaj Electricals Ltd (@bajajelectricals_ltd)</a></p></div></blockquote> <script async src="//www.instagram.com/embed.js"></script>


Devika Sachdev, head of advertising and brand management at Bajaj Electricals Limited says, "At BAJAJ, we are constantly striving to innovate and provide durable products that enhance the lives of our customers. But innovation doesn’t stop just at our products. Our first CGI video was crafted to captivate our online audience and resonate with today's generation in an engaging manner. Furthermore, we are actively involving our online community through a User-Generated Content (UGC) contest. We eagerly anticipate introducing more innovative and modern content strategies to further captivate and connect with our audience.”


<strong>Read More:</strong> <a href="https://www.storyboard18.com/quantum-brief/is-cgi-in-advertising-becoming-an-overkill-17098.htm">Is CGI in advertising becoming an overkill?</a> 

Bajaj rolls out a CGI video for its air coolers range

If capitalism had its version of Agitprop, its two main heroes would be PowerPoint and Excel.


They would be celebrated as tools that revolutionised and transformed business management. Without a doubt, they have had a massive impact. Whether as carriers of prior information, facilitators of analysis or creators of meta thinking, they established themselves as the ‘always on’ tools especially for those who were set to climb the ladder fast. 


This impact helped create, sustain and grow the mystique of the business mandarin. In myriad ways, they were invaluable to the ‘behind-the-curtain’ players who formed the establishment glue, the grout in the interdepartmental tiles as also to those who did customer facing razzle dazzle. In terms of packaging and distribution - PowerPoint and Excel came to hold sway.


But, are they fit for purpose and has this impact only been positive?


PowerPoint is more fundamentally flawed. It is a poor tool and has made both medium and message shrink. Intrinsically, it isn’t suited for what it is meant to accomplish in terms of clear, engaging, sharp communication. Sharp imagery, a few bullet points and a narrative often trumps thorough analysis and case supporting documentation. It is used indiscriminately for big bold ideas as well as the minutiae. It only follows a sequential, linear narrative. 


Could a general plan battle with PowerPoint inputs? Could an advocate convincingly argue with it in a court of law? Is it telescopic or microscopic in its net effect?


When done differently, it often gives rise to another issue, namely over stuffed presentations. But saying “apologies for a busy slide” is all it takes to brush away the illegible density. 


I have seen multiple slides in one or beastly innovations such as one slide with multiple links that go to other slides only to return to the nominal single slide.


The very ephemeral nature of such an arrayed display - boring or bedazzling - as it may be means that each slide appears for a few seconds before a puzzled, distracted or engaged audience. The etiquette of posing questions together at the end means the ‘peak end effect’ inevitably takes hold. Often, all you remember is the high point and the conclusion.


The celebration of PowerPoint is however a symptom and not the cause. 


Reductive, shorthand summarisation has become the preferred mode for collective discussions. There is not much bandwidth for detailing. An impactful image becomes a substitute for a cogent argument rather than a support for it. I am all for visually attractive, clutter breaking and compelling imagery but must the horse ride the man? Truly, does a picture say more than a thousand words? When the need for quantitative substantiation is felt, numbers march into the cramped space and infographics take pride of place. But it’s self-selection of data that happens most of all. People choose to see what they want to see.  


PowerPoint is a great tool for advocacy but not critical analysis. 

The recipe has become more important than the dish.


There is also the futility of the pre read. PowerPoints are often circulated prior to meetings and distributed far and wide. Hence there is an urge to be armed with additional content to drive specific agendas during meetings. 


A simple litmus test is whether a presentation is self-explanatory without the presenter. I am not disputing the critical role of the narrative, but every presenter wants attention and that leads to message mutation.


The detailing must be to a level of sufficiency. Brevity is the soul of the nitwit.


If you make PowerPoint presentation an end rather than the means, you will end up making a puréed mess of your ideas, and you have no choice in the matter.


Let me now deal with Excel. I believe Excel is the single most transforming element of what has made modern business what it is. It was like a cannon to the ramparts of feudal management. It blew old style marketing and creative industries to bits. 


It all started with the advent of the spreadsheet. This came in the early 1980s shortly after the introduction and widespread adoption of the IBM PC: VisiCalc, followed by Lotus 1-2-3, and then, of course, Microsoft Excel as a part of MS Office. 


<strong>Working a spreadsheet made business a malleable reality. It visually gave birth to the bottom line.</strong> Change the numbers up and the bottom line changed from red to green. <strong>Whereas real business was dealing with frictional ground realities, excel made every scenario a gamed outcome. If it could be on excel, what prevented it from being real on ground?</strong> 


‘Go to market’ strategy became subservient to excel. 


<strong>Old style business began to look sloppy, wasteful and plain.</strong> 


<strong>‘Excel men’ derived power from mathematical certainty whereas creative business was messy, loud and chaotic in comparison.</strong>


<strong>Power shifted towards formality and reserve. Men became cooler than the air conditioning. You counted only if you could be counted to deliver the numbers in the cells.</strong>


<strong>Financial engineering became the domain of the high-flying manager. Convening rights and allocation of resources got determined via outcomes from the spreadsheet. Excel made effects and countereffects easy to visualise and all fantasies seemed within grasp.</strong>


A patina of seriousness was acquired by the excel man. He was seen as wise and careful -someone sober, clinical, precise, and forever ready. He held the cards and didn’t need to show his hand. 


This ex parte advisory had a lugubrious air, implied authority and was blessed with Delphic certainty. It was inherently at conflict with the hopeful, familial charters of old business. 


<strong>Excel created a vehicle for defining value. It made the old corps tetchy. But they had no option but to lump it. Any large corporation is a confederacy of noncooperative parts. The excel yoke put everyone in one line. </strong>


<strong>For all its intentionality, the ‘excel projection’ gave its controllers a certain degree of ritual deniability.</strong> After all they just ran the numbers. If the targets were not achieved, the line managers and operators were to be held accountable. 


<strong>With excel power, even the sub-rosa parts of business became a sound and light show - dynamic, dramatic and dangerous. The consumer reality became subservient to higher order lines like technology, supply and cost.</strong>
 

<strong>Marketing and management now suddenly demanded a different type of  temperament. Without the excel seal of approval you were only a poet.</strong> 


By the 90s, the old order was being swept away as the millennium melted away into a sunset. Absolute novices, powered with the right to analyse and manipulate numbers—took over unassailable, solid, and essential brands. 


It was a revolution: new against old, analytical stars against storytellers, financial visionaries against business as usual. True or not, that’s how it was framed. Brand building, which used to be an institutionalised, specialized, creative, viscous activity—became everyone’s playing field. 


He who had the excel sheet controlled the dream. Financing something, anything, became the central economic activity.


Whilst the marketing culture at large was being dumbed down, the excel culture was getting smarter, more competitive, oppressive and, adamant in its pursuit of the ‘excel outcomes’.


From being the core of a business, the brand became a great abstraction. Businesses could be broken up, sold in parts, merged and dissolved.


A page of PowerPoint and a sheet of excel was all that mattered. 


<em><strong>Shubhranshu Singh is VP and CMO, Tata Motors CVBU. He writes Simply Speaking, a special column on Storyboard18. Views expressed are personal.</strong></em>


<strong>Read More:</strong> <a href="https://www.storyboard18.com/brand-makers/i-am-more-hungry-for-artificial-imagination-than-for-artificial-intelligence-shubhranshu-singh-21029.htm">I am more hungry for artificial imagination, than for artificial intelligence: Shubhranshu Singh</a> 

Excel - That is the powerpoint of it: Read Shubhranshu Singh's take on how Excel forever changed business and marketing

Farmley, has announced its transition to becoming completely palm oil free. Backed by extensive research and development, Farmley, with a year long mission of phasing out palm oil with healthier alternatives like olive oil, ghee or zero-oil across its entire range of products, has further solidified its commitment to redefining healthy snacking for its consumers. Palm oil, a commonly used vegetable oil, has raised environmental and health concerns due to its high saturated fat content. In an industry where the development and sale of blended palm oil is the norm — which includes 80-90% of palm oil and only 10-20% olive oil — Farmley is one of the first brands that is 100% Palm Oil-Free.

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overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;"><a href="https://www.instagram.com/p/C63M7G1JcCG/?utm_source=ig_embed&amp;utm_campaign=loading" style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none;" target="_blank" rel="noopener">A post shared by Farmley (@farmleyin)</a></p></div></blockquote> <script async src="//www.instagram.com/embed.js"></script>

While creating a completely palm oil-free product range, Farmley has launched  the "Palms Off Palm Oil" campaign, to raise awareness among consumers about the harmful effects of palm oil on health. It also aims to educate consumers about the negative impacts of palm oil production on the ecology, as it contributes to deforestation, destruction of wildlife habitats and climate change.

Expressing his delight in steering the transition to 100% Palm Oil-Free products, Akash Sharma, Co-Founder of Farmley, said, "At Farmley, prioritising the well-being and satisfaction of our consumers stands at the forefront of our mission. We began our journey 6 months ago to go completely palm oil free when a few of our  customers expressed resentment towards our products being made in palm oil during our regular customer feedback surveys. Customer feedback is not just a suggestion box for us; it's a guiding light that impacts our business decisions. We are happy to be among the first to transition our entire range of products to being completely palm oil free by replacing it with zero-oil, olive oil, or ghee. While this move will cater to the health of the nation, from a business perspective, it will provide us a first-mover advantage into an emerging F&B segment, which focuses on food quality and health. As we continue to innovate and improve, we remain committed to providing snacks that are not only delicious but also mindful of our planet and its inhabitants."

A study published in the National Library of Medicine reveals that palm oil is used in almost half of the most commonly consumed food and consumer items, including popular snacks. Composed of 50% saturated fatty acid, it increases LDL or ‘bad’ cholesterol levels in the bloodstream, increasing the unhealthy fat content in the human body while elevating the risk of cardiovascular diseases in people.

Farmley goes 100 percent palm oil free across its product range

The inflow of tourists and pilgrims into Ayodhya has seen a massive upswing with the recent inauguration of the Ram Temple in Ayodhya.  STAAH, a New Zealand-based hospitality solutions provider, has forayed into the city with its stack of advanced hospi-tech solutions through its partnership with the Clarks Inn Express hotel.


Clarks has on-boarded STAAH’s Max Channel Manager solution to help them manage their inventory across all its booking channels. This empowers Clarks to put in place some efficient operational processes that in turn will help in maximizing revenue and increase profitability, stated the company.


“We have seen a huge increase in the demand for accommodation in Ayodhya, high enough to have an 80-85% occupancy basis the BOB (Business-on-Books) till September this year. Our hotel is garnering an Average Daily Rate of INR 12,000, up from an Average Room Rate of INR 9000-9500. So, we are delighted that we have the support of STAAH’s very easy, convenient-to-use and highly effective technology to handhold us through this transition phase and the continuing demand of the destination in the coming phase,” said Rahul Deb Banerjee, vice president at The Clarks Hotels & Resorts.


Since the opening up of the Ram Temple in Ayodhya in January 2024, the city has seen a steady increase in visiting devotees from across India and the world— as per the Shri Ram Janmaboomi Teerth Kshetra, the mandir has witnessed an average of 1 to 1.5 lakh pilgrims daily.

 
“Ayodhya is a very interesting market from a hospitality perspective. It is, of course, attracting hordes of pilgrims, but it will also soon pick up as a wedding destination. The demands of hotels here are slightly different from other travel destinations and we are happy that our solutions have addressed all the concerns that Clarks shared with us. We are also in talks with other properties in the city that are facing similar challenges,” said Shoaib Ali, national sales head, India - STAAH.

 
The technological expertise of STAAH will empower the group with tools like Channel Management — that helps hotels to list and manage their inventory across booking channels, highlighted the company.


<strong>Read More:</strong> <a href="https://www.storyboard18.com/brand-marketing/walkers-co-enables-emerging-indian-filmmakers-with-the-walkers-project-31354.htm">Walkers & Co. enables emerging Indian filmmakers with The Walkers Project</a> 

STAAH ventures into Ayodhya through its partnership with the Clarks Inn Express hotel

When I say something, I mean it because I feel it: FM Nirmala Sitharaman

In an interview with Rahul Joshi, Editor-in-Chief, Network18, Finance Minister Nirmala Sitharaman said that the government continues to be enthusiastic about fintech and would like to engage with more stakeholders in the space, while refraining from commenting on the ongoing crisis at Paytm,

"I wouldn’t want to comment on a particular company. But fintech is an area in which all of us are very enthusiastic. India has contributed a lot to this sector," the finance minister said.

Earlier this week, the Reserve Bank of India  (RBI) imposed severe restrictions on Paytm Payments Bank, after noting material discrepancies and non-compliance issues.

<a href="https://www.storyboard18.com/brand-makers/ai-is-forcing-job-seekers-to-develop-new-skillsets-fm-nirmala-sitharaman-21731.htm">Read More: AI is forcing job seekers to develop new skillsets: FM Nirmala Sitharaman</a>

The decision led many stakeholders in the sector, especially fintech startups, to question the regulator's stance towards the sector. Former managing director of BharatPe, Ashneer Grover, said that the central bank “does not want FinTechs in business". 

“I don’t understand RBI. Clearly RBI does not want FinTechs in business - of late all regulations / moves are against Fintechs. Such moves will kill the sector altogether. The @FinMinIndia @nsitharaman @PMOIndia need to step in. Startups have been biggest creators of market cap and employment in last decade. Today IIM and IIT are struggling to place people - we as a country cannot afford such overreach ! Tom-Tom-Ing @UPI_NPCI to the world and punishing pioneers in the space is pure ‘Doglapan’," wrote Grover on X, formerly Twitter.

<a href="https://www.storyboard18.com/brand-makers/we-are-all-very-enthusiastic-about-fintech-fm-nirmala-sitharaman-21743.htm">Read More: We are all very enthusiastic about fintech: FM Nirmala Sitharaman</a>

The finance minister, in the exclusive interview with Network18, hailed the youths' contribution to the sector and assured that the government is enthusiastic about working in the space and encouraging more new-age firms to continue to build.

She further mentions the global recognition of India's fintech innovation, with many looking towards the country for financial technology solutions.

"India’s contribution in the sector has been globally recognised. Today, if people are looking at fintech solutions, they are looking at India. Our youth have contributed a lot in building capacities for themselves. This is an area we would certainly like to work with and encourage," said Sitharaman.


Paytm and Fintech: FM Sitharaman hailed the youths' contribution to fintech; 'Won't comment on a particular company'

“Fintech is an area in which all of us are very enthusiastic,” said Finance Minister Nirmala Sitharaman in an exclusive conversation with Network18’s managing director and editor in chief Rahul Joshi. 

Sitharaman said that India has contributed a lot to the fintech sector. “India’s contribution to the sector has been globally recognised. Today, if people are looking at fintech solutions, they are looking to India,” she added. 

<a href="https://www.storyboard18.com/brand-makers/ai-is-forcing-job-seekers-to-develop-new-skillsets-fm-nirmala-sitharaman-21731.htm">Read More: AI is forcing job seekers to develop new skillsets: FM Nirmala Sitharaman</a>

She went to add that India’s youth has contributed a lot and have built capacities of themselves. “This is an area which we will certainly like to work with and encourage,” the FM said. 

The Minister also said that the Reserve Bank of India (RBI) does tale its own call and she would appreciate if the RBI worked with the stakeholders. “The RBI takes a call keeping growth in mind. They’ve been steady and that they’ll continue to be steady is my expectation and hope,” she said. 

<a href="https://www.storyboard18.com/quantum-brief/fm-nirmala-sitharaman-to-network18-groups-rahul-joshi-this-is-secularism-in-action-21740.htm">Read More: FM Nirmala Sitharaman to Network18 Group's Rahul Joshi: “This is secularism in action"</a>


We are all very enthusiastic about fintech: FM Nirmala Sitharaman

A day after presenting the interim budget, Finance Minister Nirmala Sitharaman spoke exclusively to Network18 Group's Managing Director and Editor-in-Chief Rahul Joshi about how it was a “true vote on account budget”. Sitharaman presented the pre-election budget listing out achievements of the Modi government in the past 10 years while giving a glimpse of the future plans to make India a developed nation by 2047. While presenting the interim budget, Sitharaman said the Modi government covered all aspects of inclusivity. She added that the people of India are looking ahead to the future with hope and options. Structural reforms, pro-people programmes and employment opportunities helped the economy get new vigour.

“We treated it like a true vote on account, an interim budget before an election, and also an interim budget which is being presented with the clear understanding that the several programmes which were launched with empowerment of citizens in mind over the last 10 years are reaching the ground and the beneficiaries are already on their own speaking about it,” the FM said.

Read key takeaways from the exclusive interview. 

<strong>“This is secularism in action"</strong> 

In the exclusive interview, Finance Minister Nirmala Sitharaman told Network18 Editor-In-Chief, Rahul Joshi: “The power of word of mouth is very strong. So when a beneficiary gets truly the benefit, and without any middlemen playing a role in it, they really understand that the intent of the government is what they’ve said is what is getting executed. So I place a lot of trust in the word of mouth, which has helped in schemes like PM Awas Yogana, PM Mudra Yogana, Swanadhi Yogana. All of which have benefited the small households, small people who want to do their business and who don’t have money to give for collateral, no properties to give. 

So this government has actually, because of the vision with which the prime minister is committed to serve this country, is actually serving the common people in letter and spirit, and that is recognized by the people themselves. It’s not as if you are saying and you are showing target numbers, you are showing achievement numbers. No, the people on the ground are saying about it, I’ve got it. And so has my neighbor. So has the neighbor of that household and so on.”

“That is why I have used an expression, and I mean it when I said it, that this is secularism in action. This is where we have not shown any difference between members belonging to this community or that, this religion or that or somebody’s relative or not. No difference. The project reaches the ground to everybody who deserves to get it. And if they are eligible, they get it irrespective of who they are. And therefore, in every way, the principle of empowerment, the Sabka Saath, Sabka Vishwas and Sabka Vikas, has been executed in every way. And that is the sense of confidence that the blessings of the people are not just at the time when we gave promises, but the blessings are coming in abundantly even now to say, yes, you’ve kept up your word,” the FM said.

<strong>"Impact of digitisation on rural economy yet to be measured"</strong>

The impacts of digitisation and connectivity on the rural economy are not coming through in current economic indicators, FM Nirmala Sitharaman said in the interview with Joshi, Editor-in-Chief, Network18 on February 2.

"Indicators with which we are looking at the rural economy may vary, newer indicators may tell us a different story. FMCG data is one indicator. But better connectivity, digitisation (in rural areas) are yet to be measured," said the Finance Minister a day after she presented the interim Budget. She also said that college recruitments, and hiring in top institutions like IIMs are important, but jobs created in middle and lower order are not being counted when talking about employment in the economy.

"I am not sure I will be able to describe what is happening in the rural economy. Let us recognise there is a lot of shift in employment, let us recognise migration is now looking at redefining itself," she further said.

<strong>"AI is forcing job seekers to develop new skill sets" </strong>

The FM spoke about the employment and job market in India. There has been news of students, and freshers not being able to find jobs despite being from the top institutions of the country like IITs and IIMs. According to Sitharaman, discussions on this topic are currently based on limited knowledge and information. There are more companies being registered in India and they obviously cannot operate in a vacuum. Furthermore, lower and middle order jobs are not being taken into account. "Why are companies being registered in higher numbers if jobs are not being offered?," said the FM.

The global slowdown is having an impact on Indian jobs as well, especially at the higher end in IIM’s and IIT’s. Sitharaman said, “because of artificial intelligence, the kind of job requirements expected of recruits is changing. People with old skillsets are expected to have new and additional sets of skills for entering a certain area which until now, didn’t exist.”

<strong>Read More:</strong> <a href="https://www.storyboard18.com/brand-makers/ai-is-forcing-job-seekers-to-develop-new-skillsets-fm-nirmala-sitharaman-21731.htm">AI is forcing job seekers to develop new skillsets: FM Nirmala Sitharaman</a> 


FM Nirmala Sitharaman to Network18 Group's Rahul Joshi: “This is secularism in action"

In an exclusive conversation with Network18's managing director and editor in chief Rahul Joshi, Finance Minister Nirmala Sitharaman spoke about the employment and job market in India. 

There has been news of students, and freshers not being able to find jobs despite being from the top institutions of the country like IITs and IIMs. According to Sitharaman, discussions on this topic are currently based on limited knowledge and information. There are more companies being registered in India and they obviously cannot operate in vacuum. Furthermore, lower and middle order jobs are not being taken into account. "Why are companies being registered in higher numbers if jobs are not being offered?," said the FM. 

<a href="https://www.storyboard18.com/brand-makers/paytm-and-fintech-fm-sitharaman-hailed-the-youths-contribution-to-fintech-wont-comment-on-a-particular-company-21754.htm">Read More: Paytm and Fintech: FM Sitharaman hailed the youths' contribution to fintech; 'Won't comment on a particular company'</a>

The global slowdown is having an impact on Indian jobs as well, especially at the higher end in IIM’s and IIT’s. Sitharaman said, “because of artificial intelligence, the kind of job requirements expected of recruits is changing. People with old skillsets are expected to have new and additional set of skills for entering a certain are which until now, didn’t exist.” 

The interim budget or the ‘Vote of Account’ for 2024 was presented by FM Nirmala Sitharaman yesterday, Feb 1. 

During her Budget speech on February 1, Sitharaman said that through the Skill India Mission, the government has trained 1.4 crore youth, upskilled and reskilled 54 lakh youth so far. The government has "established 3,000 ITIs and large institutions of higher learning including 7 IITs, 16 IIITs, 7 IIMs and 15 AIIMs and 390 universities have been set up."

<a href="https://www.storyboard18.com/quantum-brief/fm-nirmala-sitharaman-to-network18-groups-rahul-joshi-this-is-secularism-in-action-21740.htm">Read More: FM Nirmala Sitharaman to Network18 Group's Rahul Joshi: “This is secularism in action"</a>

In September 2023, the Modi-led government unveiled the Skill India Digital Platform to bring all skilling initiatives under a single umbrella and provide skill development and entrepreneurial support to people. More than 264 skilling courses from 42,623 centres from across the country will be available under the platform, which will also provide opportunities for job exchange, apprenticeship, and entrepreneurship.


AI is forcing job seekers to develop new skillsets: FM Nirmala Sitharaman

On February 1, Finance Minister Nirmala Sitharaman presented the Interim Budget 2024. Several high profile personalities took to X to express their views and the Budget speech received thumbs up from Harsh Goenka, chairperson, RPG Group and Anand Mahindra, chairperson, Mahindra & Mahindra. But Shashi Tharoor, member of the Lok Sabha and an MP from Congress, had a different take. He took to X where he stated, “What does "GDP" stand for on this government's watch? 'G' for "governmental intrusion and tax terrorism", 'D' for "demographic betrayal" and 'P' for "poverty and rising inequality.”

<strong>Read More:</strong> <a href="https://www.storyboard18.com/how-it-works/harsh-goenka-budget2024-is-a-fighter-that-tames-the-animal-of-recession-21590.htm">Harsh Goenka: Budget 2024 is a Fighter that tames the Animal of recession</a> 

In a video interview to a media organisation, Tharoor said, “It's not just an interim budget but their (BJP government) final budget, and there's no question about it. This is a government that has completely run out of ideas. They have essentially given us a whole rhetoric. It was only the shortest budget speech on records since I started following the budget 15 years ago.”

In the video, Tharoor went on to state that the ‘film was not yet finished’. “Votes can’t be counted until they are cast and the votes will be cast when the time comes. There is still time for the opposition to get its act together,” he said.

<strong>Read More:</strong> <a href="https://www.storyboard18.com/quantum-brief/budget-2024-the-fiscal-deficit-target-was-better-than-envisaged-prudence-scored-a-decisive-victory-anand-mahindra-21543.htm">Budget 2024: The fiscal deficit target was better than envisaged. Prudence scored a decisive victory: Anand Mahindra</a>

Budget 2024: What does "GDP" stand for on this government's watch?, asks Shashi Tharoor

On February 1, Finance Minister Nirmala Sitharaman unveiled the Interim Budget, weeks before the Lok Sabha prepares to go for elections between April and May. The full Budget of 2024 would be presented in July after the new government comes into power.

Sitharaman has left the tax rates and slabs unchanged for both old and new income tax regimes for 2024-2025. For an income of up to Rs 3 lakh, no tax would be applied, for an income between Rs 3 lakhs - Rs 6 lakhs, a tax of five percent would be applicable. 

Under the new regime tax slabs, for anyone, whose income is between Rs 6 lakh - Rs 9 lakh, Rs 9 lakh - Rs 12 lakh, Rs 12 lakh - Rs 15 lakh and an income of Rs 15 lakh and above, the taxes would be applicable at 10 percent, 15 percent, 20 percent and 30 percent.

Under the old regime tax slabs, income up to Rs 2.5 lakhs is exempt from taxation. For those whose income is in between Rs 2.5 laksh to Rs 5 lakhs, they would be taxed at a rate of five percent. 

Income from Rs 5 lakhs to Rs 10 lakhs would be taxed at 20 percent. Income above Rs 10 lakh is taxed at 30 percent.

Pranjal Kamra, chief executive officer, Finology Ventures said, “If the new tax regime is meant to simplify the complications of the old tax regime by being in existence, it further leads to complications. We all know how important the government thinks that the national pension scheme is. Thereby, it should also get a special provision in the new tax regime the way it got in the old tax regime.”

Edited excerpts


<strong>What are your thoughts about the Interim Budget 2024 with respect to the income tax regime?</strong>

Mixed thoughts specifically regarding the tax slabs. For example, if inflation is six percent, it means that the common man now has six percent more expenses and by virtue of it, probably six percent higher income. So, slabs should at least be adjusted as per inflation so that I don't end up paying more taxes and glory is taken saying no changes in tax lab.

<strong>Compared to Budget 2023, how did Interim Budget 2024 fare?</strong> 

For a common man, mostly a budget means whether he or she is getting any additional relief. Even though it's an interim budget, more clarity is (needed on) how we are going ahead in terms of merging the old tax regime and the new tax regime because two regimes existing parallelly doesn't make a lot of sense.

If the new tax regime is meant to simplify the complications of the old tax regime by being in existence, it further leads to complications. We all know how important the government thinks that the national pension scheme is. Thereby, it should also get a special provision in the new tax regime the way it got in the old tax regime.

So I think these were the two minor misses, but I'm sure that further down the year when the full budget is unveiled, this might be corrected. 

<strong>2023 has been quite a year for finfluencers. Securities and Exchange Board of India (SEBI) released a consultation paper after ASCI revised its influencer guidelines requiring finfluencers to be registered with SEBI. What sort of an impact have the guidelines had on your modus operandi as a finfluencer?</strong> 

It has been a little different for us because we are SEBI registered since 2018. RIA (Registered Investment Advisor) regulations are so tough that comparatively these finfluencer guidelines are nothing. I'm someone who already complies with the RIA regulations. And in comparison to those, I don't feel any additional burden. 

I think there should be some formal regulation for finfluencers because we need to understand the intent behind the RIA regulation. When they came in 2013, it was to actually regulate the mode through which advice was rendered back then. Back then, the primary mode was websites and physical consultations.

Today, the primary mode through which financial awareness or consulting is given is through finfluencers and social media. The existence of those regulations defeat the purpose if now a new regulation does not cover the primary mode of delivering these consultations today. So I welcome these steps and I think not just guidelines, there should be a formal regulation. 

 
<strong>SEBI took action against a few of the finfluencers like PR Sundar. How have such incidents impacted the brand collaborations that came your way?</strong> 


I take very few brand collaborations offers. In terms of offers also, there has been a reduction. But for the good, because I don't see reputed brands not approaching us. I only see brands that were operating in the regulatory grey area now not being so aggressive.


So I think for some finfluencers, it could have led to some monetary distress. But as a regulated entity, we couldn't touch a lot of brands. So it does not impact us financially.


<strong>Could you name some of the brand collaborations that have come your way? </strong>


Previously, we saw a lot of betting, gaming apps, crypto apps, stock market games etc approaching us.


We would receive offers like speaking good things about an IPO. If a quarterly result came, requests like 'could you tweet something good about the quarterly results etc?' would come my way. And I would deny it.

When, the next day, I saw YouTube or social media filled with the same kind of videos or tweets, it did hurt. So, those offerings in itself have reduced. 

But otherwise, safer options like promoting a platform and not promoting a particular scrip or an asset is something we look at. If one wants to buy insurance, I would never promote a particular brand.

So if it's a platform and where the end responsibility is with a regulated entity, say, if I'm buying HDFC life insurance, it shouldn't matter much whether I'm buying it from Paisa Bazaar, Policy Bazaar or some other website. So I'm more comfortable with these marketplaces rather than promoting the end product. 

<strong>With the brand collaborations requests that you are receiving, what are the precautionary steps you take to avoid being misled or misguided or coming under the radar of SEBI?</strong> 

We are all under the radar and rightfully so. Rather than being fearful or feeling nervous about it, with or without these guidelines, what we have to work with is common sense.

There are three or four basic guidelines that all financial intermediaries follow. As influencers, we should also follow. First, if you are earning by promoting the product, disclose it. So I think disclosure is very basic. In a lot of ways, the guidelines also repeatedly talk about it. 

Second, avoid front running (forward trading or tail-gating). It can't happen that I invest in a particular asset or a company today and then I start promoting it tomorrow. Third, do not do contra trading (multiple buy and sell trades on the same day or the next trading day, as per Westpac). Fourth, do not act on insider trading. 

It's just that the guidelines specifically say finfluencers. But with or without finfluencers, I think dos and don'ts are mostly the same. 


<strong>How difficult or easy is the process of being registered with SEBI?</strong> 


December 2018 is the time when we got registered. It was seamless for us because it took anywhere between four to four-and-a-half months. All the documents that were required were clearly stated. 


Ours was a RIA (Registered Investment Advisor) license in a corporate structure. What I've heard is that if one is going for an RIA license, the paperwork is even less. 

If the license is not too tough to get, why not comply? The fees are not extremely hard in comparison to what the finfluencers earn and it takes three to four months to get registered. Why not take it and be on the safer side? 


<strong>What is your take on Advertising Standards Council of India (ASCI) asking finfluencers to display their educational qualifications or credentials while endorsing products or services?</strong> 

Say an engineer developed an interest in finance at a later stage and was not in a position to do an MBA or an MCom, although they should, if they are in this domain. But it's not possible for everyone. Plan B is to incorporate a company and hire a person who has the qualifications, and then take the license in the company's name. 


<strong>Finfluencers began to gain attention in 2020. From then until now, how have the opportunities in terms of brand partnerships evolved?</strong> 

 
We have never been a sponsorship-oriented business model. We rarely did brand promotions back then. And, we rarely do it today. The only visible trend I see is that no cryptocurrency apps approac (us).

 
Crypto apps were at their peak towards the end of 2020, and they were so desperate to get every finfluencer on board. I was not interested at all. After trying for months, they finally gave me an option wherein they asked me to come to a session with them.

 
They said I could take whatever money was required. They even gave  me the option to criticise their brand.  Today, I don't see a lot of such examples.

 
With the venture capital (VC) funding also drying up, we are not seeing 50 brands becoming unicorns like it used to happen in 2020 and 2021. It directly affects finfluencers because a lot of brands that come to influencers are actually D2C brands or start-ups wanting to scale immediately through them. If they don't have that kind of funding, I think all influencers get affected.

 

<strong>The full Budget 2024 will be read out after the new government is elected this year. What are your expectations then?</strong> 

 
There's always a debate between being too populist versus being too pragmatic. Whichever government comes into power, the old tax regime should end and some of its perks should be merged into the new tax regime. Thus, there should be one regime. 

 
<strong>Do you think that because of the actions of a few finfluencers which led to stringent actions being taken against them by SEBI, it has caused a negative impact on finfluencers who followed every rule to the T?</strong>

 
For people who are not trying to go viral overnight, things haven't changed much. People are more circumspect (unwilling to take risks), but I think that it's good. Because ultimately, not just in finance, but in health, law, and almost in all spheres, it's better if you are a little more circumspect. If SEBI initiates more action, it creates a barrier to entry and in the long run, it reduces competition. 

<strong>Read More:</strong> <a href="https://www.storyboard18.com/quantum-brief/interim-budget-2024-finfluencers-expect-women-centric-boost-direct-tax-relief-21413.htm">Interim Budget 2024: Finfluencers expect women-centric boost, direct tax relief</a> 

Pranjal Kamra: With the election of the new government, the old tax regime should merge into the new tax regime

FM Nirmala Sitharaman has announced her sixth consecutive budget, this time in the form of an Interim Budget ahead of the upcoming parliamentary elections. This matches the record set by former Prime Minister Morarji Desai. Overall, it is looking up. From taxation, to ongoing subsidies and schemes for the rural class, to relaxations for startups and businesses, the budget has covered most gaps. Folks in advertising and marketing too seems to be quite pleased with everything drawn out by the FM in the budget for 2024. Harsha Razdan, CEO- South Asia, Dentsu talks about the prioritisation of the Budget, digital empowerment and more. 

<a href="https://www.storyboard18.com/quantum-brief/budget-2024-punit-goenka-foresees-golden-era-for-media-and-entertainment-amidst-10-billion-zee-sony-merger-turmoil-21567.htm">Read More: Budget 2024: Punit Goenka foresees golden era for media and entertainment</a>

“I'm pleased to see that the government's budget priorities include simplifying processes through digital empowerment. While we await the full budget, the interim one signals a commitment to nurturing strategic long-term investments and inclusive growth. The investment focus towards Infrastructure, Start-ups, Tourism, Women Empowerment, and Green Energy should stimulate consumption, boosting the economy and advertising expenditure. The budget also heralds a promising era for companies leveraging AI and market technology to drive a technology-driven economy,” he said. 

<a href="https://www.storyboard18.com/quantum-brief/budget-2024-pass-or-fail-what-madisons-sam-balsara-and-grapes-shradha-agarwal-think-about-budget-2024-21549.htm">Read More: Budget 2024 - Pass or Fail?: What Madison's Sam Balsara and Grapes' Shradha Agarwal think about Budget 2024</a>

“The focus on digital connectivity promises fresh avenues for innovation and expansion within the industry. The projected economic growth of 6-6.8 percent in the next fiscal year will continue to drive consumption and better advertising spending across diverse industries. However, the Industry was hoping for additional measures to boost rural consumption, and that could dampen advertising spends to an extent,” added Razdan. 

https://www.storyboard18.com/quantum-brief/budget-2024-what-gozoops-rohan-bhansali-and-mad-influences-gautam-madhavan-think-about-budget-2024-21587.htm


Budget 2024: What Dentsu's Harsha Razdan thinks about the Interim Budget 2024

FM Nirmala Sitharaman has announced the Interim Budget or the ‘Vote of Account’ for 2024 today. The Lok Sabha elections, which will be held between April and May, will see the newly elected government present the full budget for FY25. The government allocated Rs. 4,342.55 crore to the Ministry of Information and Broadcasting (MIB) for 2024-25. The figure is marginally lower than the Rs. 4,449.79 crore that was allocated in the previous fiscal year. Of the current allocation, Rs. 2,959.94 crore has been allocated to broadcasting. Rs. 1,088.16 crore has been allocated for Information and Publicity.

Here’s what leaders in advertising and marketing thought about the inclusions in the Interim Budget.

<strong>Punit Goenka, MD and CEO of ZEE Entertainment Enterprises Ltd</strong>., lauds the government's economic reforms on Budget day.

“The Government’s efforts to boost India’s economy through structured policy reforms will accelerate the development of our nation over the next few years. The steps taken by the finance minister to empower the youth by fuelling the entrepreneurial spirit and fostering innovation in technology through initiatives like the 1 lakh crore research corpus, creates a golden era for sunrise sectors such as media and entertainment,” he said. 

“The combination of youth and technology certainly holds immense potential and can lead to exciting new opportunities for content distribution and monetization, boosting the growth of the M&E sector at large,” Goenka added.

Goenka has been vocal about government initiatives. He even attended the grand Ram Mandir opening on January 22, 2024, the same day the $10 billion Zee-Sony faced termination.

On January 25, 2024, Goenka addressed Zee employees speaking about changing dynamics and opportunities in the media and entertainment space.

“Our industry is witnessing rapid changes, and these winds of change are giving us a new shape. We have to mould ourselves to be well-positioned in order to capitalise on the opportunities coming our way. We have been leaders over the last 3 decades and have delivered value to our stakeholders, year on year.We need to continue building on this momentum and fire on all cylinders,” he said.

<strong>Sam Balsara, Chairman, Madison World</strong> said, “This was a vote on account budget, so no major proposals were expected or being announced. However, in view of all the positive government actions taken in the last 10 years, I would expect that our consuming class which is already at 450 million should go to 800 million in the next 5 years. Those who take a cue from this and invest heavily in advertising over the next few years to strengthen their brands will reap huge benefits over the next 5 years.”

<strong>Harsha Razdan, CEO - South Asia, Dentsu</strong> said, “I’m pleased to see that the government's budget priorities include simplifying processes through digital empowerment. While we await the full budget, the interim one signals a commitment to nurturing strategic long-term investments and inclusive growth. The investment focus towards Infrastructure, Start-ups, Tourism, Women Empowerment, and Green Energy should stimulate consumption, boosting the economy and advertising expenditure. The budget also heralds a promising era for companies leveraging AI and market technology to drive a technology-driven economy.”
 
“The focus on digital connectivity promises fresh avenues for innovation and expansion within the industry. The projected economic growth of 6-6.8% in the next fiscal year will continue to drive consumption and better advertising spending across diverse industries.  However, the Industry was hoping for additional measures to boost rural consumption, and that could dampen advertising spends to an extent,” he added. 




















Budget 2024 - Pass or Fail?: Reactions from M&E industry and media agencies

Finance minister Nirmala Sitharaman presented her sixth consecutive budget, matching the record set by former Prime Minister Morarji Desai, just ahead of the Parliamentary elections. Find out what the leaders of Haier, Agoda and Kalyan Jewellers had to say.


Krishna Rathi, Country Director India, Sri Lanka, and Maldives Agoda said, "2023 has been a year of remarkable growth for the Indian travel sector. As a digital travel platform, Agoda is committed to hassle-free and affordable travel experiences; domestically, for Indians traveling internationally, and for tourist visiting India from abroad. Agoda believes in the benefits of a cooperative approach between the travel industry and government bodies at both the state and Union levels. This will help effectively cater to the current travel dynamics. Agoda is enthusiastic about the future of India's travel sector and its potential for growth. We will play our part in helping India's travel sector thrive and are excited about the focus on the recommendations of the G20 working group on Tourism, public-private partnerships for innovation and impact, and the focus on connectivity in this budgetary update."

T S Kalyanaraman, Managing Director, Kalyan Jewellers said, “We welcome the interim budget announced by FM Nirmala Sitharaman, and commend the Government of India’s consistent efforts in ensuring inclusive growth as well as recognizing the pivotal role of women in economic transformation, through a diverse array of initiatives.
 
The country’s phenomenal growth trajectory and economic prowess in the past decade, has been nothing short of extraordinary, particularly the surge in FDI, which witnessed two-fold increase over the past two decades. As we celebrate the golden era, we would like to applaud PM Modi’s commitment and vision for fostering a thriving economic landscape. The ‘First Develop India’ (FDI) initiative, geared towards encouraging foreign partnerships, exemplifies a collaborative spirit towards economic progress. Furthermore, we believe the PM Vishwakarma Yojana is playing a critical role in empowering the India’s artisan community. With benefits extending across 18 trades, it symbolizes the Government of India’s holistic approach towards preserving traditional craftsmanship and contributing significantly to the nation's economic fabric.”

NS Satish, President, Haier Appliances India said, ""Haier India applauds the visionary approach of the interim FY25 budget announced by the Honourable Finance Minister today, particularly its focus on technology and innovation. These align perfectly with our commitment to advancing technology and delivering high-quality appliances. The new housing scheme for the middle class and initiatives to help slum dwellers as well as those living on rent is a welcomed move along with the 2 crore additional houses under the Pradhan Mantri Awas Yojna - Gramin in 5 years. The emphasis on upskilling the youth and creating a conducive ecosystem for business expansion is truly commendable and we are optimistic that this move will aid the industry’s overall growth. Moreover, the heightened focus on manufacturing and infrastructure is anticipated to have a favourable effect on our developmental trajectory. 

This year’s budget’s attention to people, research & development, innovation, and corporate taxation bodes well for the consumer durables sector. As we journey towards a 'Viksit Bharat' by 2047, Haier India remains steadfast in its commitment to ‘Make in India, Made for India’, and helping the country move towards its trillion-dollar economy goal.”
 
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Harsh Goenka: Budget 2024 is a Fighter that tames the Animal of recession

Harsh Goenka, chairperson of the RPG Group, displayed his filmy and spiritual take on the recently concluded Interim Budget which was presented by the finance minister Nirmala Sitharaman.

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