Millions of Americans could see larger tax refunds and lower tax liabilities under a new set of tax measures expected to take effect in 2026, according to details emerging from the latest federal tax reform initiative backed by President Donald Trump. The proposed changes are designed to provide targeted relief to working families, middle-income earners,...
In a significant policy move aimed at strengthening foreign capital inflows and enhancing the attractiveness of India’s debt market, the central government has announced the removal of capital gains tax and withholding tax on investments made by eligible foreign investors in government securities. The decision comes at a time when policymakers are seeking to reinforce...
A viral claim suggesting that the Reserve Bank of India (RBI) sold gold worth nearly $12 billion to protect the country’s foreign exchange reserves has been officially rejected, with authorities clarifying that no such transaction took place. The clarification came after reports and social media posts sparked widespread speculation regarding the central bank’s gold holdings...
The United States has proposed fresh trade measures targeting India and 59 other economies, citing concerns over the continued presence of goods linked to forced labour within global supply chains. The move marks a significant development in Washington’s ongoing efforts to tighten trade enforcement and address what it describes as unfair commercial practices affecting American...
In a significant policy move aimed at safeguarding foreign exchange reserves and stabilizing the domestic currency, the Government of India has increased the import duty on gold and silver from 6% to 15%. The decision comes against the backdrop of escalating geopolitical tensions in West Asia and mounting pressure on India’s forex reserves. Officials indicated...
A United States trade court has dealt a major legal blow to former President Donald Trump’s trade agenda by ruling that his administration’s sweeping 10% global tariffs were not legally justified under federal law. The verdict marks another significant setback for Trump’s aggressive tariff-driven economic strategy and could reshape the future of presidential trade powers...
India is preparing to recalibrate its economic strategy in response to an increasingly protectionist global trade environment, with Chief Economic Advisor V. Anantha Nageswaran advocating the creation of a robust national supply chain security framework. His remarks signal a shift toward building institutional safeguards to protect India’s economic interests amid tightening global regulations and geopolitical...
New Delhi: Prime Minister Narendra Modi on Monday lauded the recent GST reforms announced by Union Finance Minister Nirmala Sitharaman. Speaking to National Awardee teachers at his official residence on 7, Lok Kalyan Marg, PM Modi highlighted that the Goods and Services Tax (GST) has been made simpler, with tax slabs reduced to just 5%...
New Delhi: The government has approved the appointment of former Reserve Bank of India (RBI) Governor Urjit Patel as Executive Director (ED) at the International Monetary Fund (IMF) for a three-year term. He will succeed K V Subramanian, whose tenure was cut short by six months, effective April 30, 2025. The Appointments Committee of the...
Washington: Former U.S. President Donald Trump has called for the resignation of Federal Reserve Governor Lisa Cook following allegations of mortgage fraud. The controversy emerged after Bill Pulte, director of the Federal Housing Finance Agency and a Trump ally, urged the Justice Department to investigate two mortgages Cook allegedly misrepresented. Trump echoed these claims on...