7th Pay Commission: ‘Passenger vehicle growth expected to be better than 6-8%’

Growth in passenger vehicle sales may be higher than the 6-8 per cent forecast for the current fiscal in view of better outlook for the economy, good monsoon and implementation of the 7th Pay Commission recommendations, SIAM said on July 11.

The Society of Indian Automobile Manufacturers had in April revised downward the growth forecast for passenger vehicle sales at 6-8 per cent for 2016-17 citing burden of high taxation and unfavourable environment around diesel vehicles. In March, it had already lowered the forecast to 11 per cent from 12 per cent stated earlier.

“There is no recalculation (on growth forecast for passenger vehicles) but we are expecting it to be better than that (6-8 per cent),” SIAM Deputy Director General Sugato Sen told reporters here. Explaining the reasons for the auto industry’s cautious optimism, he said the economy is expected to do well, monsoon has been good so far and although the interest rates have remained high they are expected to decline going forward.

India Post opens ‘My Stamp’ scheme for individuals, corporate

If you thought physical mails, or snail mail as they are derogatorily called, were so last century, think again. This may be the direct promotional opportunity you have been waiting for.

In a bid to generate revenues, India Post recently opened a scheme of customised printing of ‘My Stamp’ for individuals and corporates. Under the scheme, an individual or a corporate entity can get their photo or logo printed inside the postage stamp at a price of Rs 12 lakh.

The customer will receive 5,000 sheets comprising 60,000 postage stamps. These stamps can be used for general postal mail.

Earlier, India Post only allowed printing of photo or design next to postage stamp on a Rs 300 ‘My Stamp’ sheet.

So far, the department has issued customised My Stamp for eCommerce platform Amazon India, and Hindustan Aeronautics Limited.

My Stamp has helped India Post receive Rs 2 crore in fiscal 2016-17. Total revenue from My Stamp fiscal in 2015-16 was Rs 2.83 crore.

The scheme

• A brand name for personalised sheets of postage Stamps of India Post
• The personalisation is achieved by printing a thumbnail photograph of the customer images and logos alongside the selected Commemorative Postage Stamp
• It was first introduced in India during the World Philatelic Exhibition, ‘INDIPEX 2011’
• The scheme is available in selected Philatelic Bureaux and counters/ Important Post offices/ Post Offices situated at tourist places.

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