The middle class swooned with delight at the tax cuts in the budget, but the stock markets barely moved. Why so? Because finance minister Nirmala Sitharaman‘s speech about a bright future was silent on the sharp, continuing fall of Indian stock markets and the rupee ever since it became clear that Donald Trump was going … Read more
Union Finance Minister Nirmala Sitharaman on Tuesday said that if it was in her hands, she would have reduced taxes to almost nil for all. She cited that the taxation process is crucial as India’s challenges are unique. Speaking at an event at the Indian Institutes of Science Education and Research, FM Sitharaman said: “Tax … Read more
Reserve Bank Governor Shaktikanta Das on Monday said lower government borrowings than the market estimates will free more capital for the private sector resulting in easing of inflation and bolstering growth. “This year’s borrowing is lower than what initially the markets had expected. Lower quantum of borrowing means…it would ensure that much more resources will … Read more
US Republicans voted Wednesday to raise the national borrowing limit, but only in conjunction with drastic cuts, as they sought a showdown with President Joe Biden over “excessive” spending with a potentially ruinous credit default looming. The government is expecting to hit the debt ceiling within weeks, raising the possibility of the world’s largest economy … Read more
The Centre has exceeded the revised Direct tax target for the financial year 2022-23 by Rs 11,000 crore, on the back of a resilient economy, provisional data released on Monday suggested. The centre mopped up Rs 16.61 lakh crore as direct tax, net of refunds, marking a growth of 17.63%, provisional data released on Monday … Read more
The Centre’s fiscal deficit hit 82.8% of the revised estimate (RE) until February this fiscal year, just a notch higher than the 82.7% a year before, according to the official data released on Tuesday. In absolute terms, the fiscal deficit hit ₹14.54 lakh crore in the first 11 months of FY23, against Rs 13.17 lakh … Read more
By Jill Cowan The fires across the West have continued to burn, continued to kill people, and continued to incinerate homes and fill our air with smoke. Firefighters have continued to do the arduous, time-consuming work of containing explosive flames before they reach the places we most want to protect. It’s an all-consuming cycle — … Read more