GOVERNMENT TAX POLICY
Why were investors disappointed in the first-ever White House crypto summit?
The cryptocurrency industry had a major impact on the 2024 election, with political action committees and related groups contributing over $245 million in campaign funding.
RBI liquidity injection and its impact on the bond market
The Reserve Bank of India (RBI) plans to inject Rs 1 lakh crore through OMOs and conduct a USD INR swap auction worth $10bn to address liquidity shortages. This strategic move aims to stabilize the economy by mitigating the liquidity crunch and balancing rupee volatility with maintaining market liquidity.
Foxconn to get Rs 6,970 crore incentive for iPhone unit in Bengaluru
The Taiwanese giant, the first electronics manufacturer to be given such a large incentive by Karnataka, plans to assemble 20 million smartphones annually, on a 300-acre plot spread across the Doddagollahalli and Chapparadahalli villages in Devanahalli taluk, near Bengaluru.
US economic worries mount as Trump implements tariffs, cuts workforce, freezes spending
Concerns grow that President Trump's tariffs and policies may harm the US economy despite a healthy labor market. The recent jobs report showed a rise in part-time work and job losses in leisure sectors, suggesting economic uncertainty. Trump's tariffs and government layoffs could potentially lead to higher inflation and slower growth, affecting everyday Americans.
Trump's White House Crypto Summit is in focus. Will Bitcoin be integrated into US financial strategy?
White House Crypto Summit: President Donald Trump will host his first White House crypto summit this Friday and there's a lot of buzz around it. The high-profile event attracted significant attention across the industry and is expected to include more than 25 participants. Commerce Secretary Howard Lutnick has dropped hints that Bitcoin may be integrated into the U.S. financial strategy, according to media reports.
India has leaned on the US with low tariffs and that has to change: US Commerce Secretary Howard Lutnick
US Commerce Secretary Howard Lutnick emphasized the need for a major trade agreement between the US and India, stressing that India must reduce tariffs and protections for the US market. He highlighted that India's agricultural sector needs to open up and suggested a reciprocal policy to enhance bilateral trade, leveraging the strong rapport between Modi and Trump.
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India set to overcome worst cash crunch in years on RBI steps
India is addressing one of its worst liquidity deficits through aggressive steps by the Reserve Bank of India, which has injected about $68 billion into the financial system since late January. These efforts are expected to create a liquidity surplus by the end of March, aiding better transmission of interest-rate cuts and supporting economic growth.
Fed's Waller, leaning against March cut, sees easings later in year
Federal Reserve Governor Christopher Waller opposes a rate cut at the upcoming policy meeting. He suggests future cuts are possible if inflation pressures decrease. Waller wants more data, especially on inflation and tariffs, before making a decision. Financial markets expect a possible rate cut by June amid rising concerns over the economic outlook.
Why would the US government shut down?
A significant portion of the U.S. government could cease operations at midnight on March 14 if Congress fails to pass detailed spending legislation. Disagreements over spending priorities between Democrats and Republicans, complicated by President Trump's efforts to downsize the government, heighten the risk of a shutdown.
Top officials to brief parliamentary panel on US reciprocal tariffs and trade policy
Top Indian officials are set to brief a parliamentary panel on trade policy, including the US's recently announced reciprocal tariffs on India. The meeting, chaired by Shashi Tharoor, aims to address concerns over how these tariffs will affect Indian industry and discuss India's response and negotiations with the US.
Elon Musk criticizes gender-affirming surgeries, cites mental health concerns
Elon Musk has spoken against gender-affirming surgeries, claiming they negatively impact mental health. His comments follow a study suggesting higher rates of depression and anxiety among those who undergo such procedures. Musk’s views have gained attention, partly due to his estranged relationship with his transgender daughter, and his stance against transgender policies globally.
Increase share of states in Central taxes pool to 48%, MP CM tells 16th Finance Commission
Madhya Pradesh Chief Minister Mohan Yadav called for an increase in states' share of Central taxes from 44% to 48% to boost development. Emphasizing the progress in various sectors, he highlighted the state's financial goals, major projects, and efforts to attract investment and support farmers.
India's economic growth pegged at 6.5% for FY26 despite Trump tariff threat: Crisil
India is expected to maintain a steady 6.5% GDP growth in FY 2026, aided by normal monsoons and soft commodity prices. Key drivers include improved manufacturing, reduced inflation, tax benefits, and strong urban demand. Ongoing infrastructure development and economic reforms provide resilience amid global uncertainties.
Toddy-tapping to be exempted from prohibition law if RJD comes to power in Bihar: Tejashwi Yadav
Tejashwi Yadav announced that if RJD wins the Bihar elections, toddy-tapping will be excluded from the prohibition law, easing hardships for poor people, mostly Dalits. He accused CM Nitish Kumar of obstinacy and emphasized targeting big fish in the illicit liquor trade. Yadav also promised a 'nasha-mukti' campaign and benefits for Bihar's youth.
Congress cites IMF report to slam govt; calls for boosting consumption, rationalising trade policy
The Congress has cited an IMF report highlighting sluggish private investment growth in India and criticized the Modi government’s policies. They emphasize the need for measures to boost consumption, policy predictability, and rationalized trade policy to address the economic downturn.
More words than deeds from China on consumption keep deflation in play
Chinese Premier Li Qiang emphasized consumption in his recent government work report, but economists warn that the government's measures may not be enough to combat deflation. While he proposed increased fiscal stimulus, including subsidies for electric vehicles and welfare increases, these steps were seen as insufficient.
Trump plans executive order to strengthen US shipbuilding, blunt China domination
The U.S. plans to impose fees on imports from Chinese ships and provide tax incentives to strengthen domestic shipbuilding. This initiative by President Trump aims to counter China's control over the $150 billion global shipping industry. The White House will also establish a Maritime Security Trust Fund to support these efforts.
Markets wrestle with Trump's unconventional debt ideas
Investors are considering Donald Trump's unconventional strategies to address the rising U.S. debt, which exceeds $36 trillion. Trump's administration, avoiding cuts to popular benefits, is exploring options like forced debt swaps with foreign governments and selling residency cards to the wealthy, aiming to lower interest payments and boost revenue.
China warns it is ready for ‘any type of war’ as tensions escalate with the US
China has responded strongly to the latest US tariffs imposed by Donald Trump, declaring that it is prepared for a trade war. Beijing has announced retaliatory tariffs on key US farm products and criticised the US for using the fentanyl crisis as a justification for levies. The escalating trade tensions could have significant global economic consequences.
UK plans to overhaul windfall oil and gas tax
Britain plans to revamp its windfall tax regime for oil and gas producers after 2030, aiming to transform the North Sea into a renewable energy hub. The government seeks industry feedback on taxing "excess revenue". The tax rate was recently increased to one of the highest globally, prompting concerns about investment uncertainty and output decline.
As Trump wages a tariff war, Wall Street feels the heat of a shifting US foreign trade policy
Rising tariffs and economic uncertainty under Trump's administration have dampened the pace of mergers and acquisitions in 2025, with a significant drop in deal volume and value. Sharp stock market volatility is also causing hesitation among executives. Still, there are expectations for major megadeals this year despite the challenging environment.
Donald Trump promises tax cuts for everybody, pushes new breaks on tips, overtime in Congressional address
President Trump renewed his advocacy for broad tax cuts in his address to Congress, emphasising the economic growth spurred by his administration's policies. He proposed extending tax cuts, including eliminating taxes on tips and overtime pay, and urged bipartisan support. His plan also includes deregulation and reduced spending, with critics concerned about income inequality and national debt impacts.
Trump says he is "fighting everyday to make America affordable again"
President Trump vowed to make America "affordable again" by reducing costs on essential goods and reorganizing the federal government. He criticized the previous administration for economic issues and announced tariffs on imports from Canada, Mexico, and China. These measures aim to address fentanyl trafficking and illegal immigration but have raised concerns about potential trade wars and higher consumer prices.
How Trump's tariffs could disrupt global cooperation and impact India
Donald Trump’s decision to withdraw from global tax agreements and impose tariffs may hinder trade cooperation. Trump's strategy hopes to boost revenues for corporate tax cuts, raising concerns about economic impact while other countries labour on a global tax deal. The US may adopt unilateral tax measures, challenging countries like India's tax efforts and affecting global trade dynamics.
Non-tariff barriers and 'red tape' that slow market access should be dismantled: USIBC
The US-India Business Council urges the dismantling of non-tariff barriers and red tape to expedite market access and enhance trade relations between India and the US. With Commerce Minister Piyush Goyal in Washington for talks, the goal is to create a landmark bilateral trade deal to boost economic growth in both countries.
Understanding Tariffs: Here's what they are and how they work
Tariffs are taxes on imports, typically paid by importers and passed on to consumers. While intended to protect domestic industries and can serve as political leverage, tariffs often raise costs, provoke retaliatory measures, and may not achieve the intended economic benefits. Trump's tariffs created mixed economic impacts but shaped political support in key regions.
Tax sops to individuals cost Rs 8.7 lakh crore in 5 years
Tax breaks for individuals and Hindu Undivided Families (HUF) were nearly twice the incentives the Centre has given to corporates over the past five years to 2024, Lok Sabha data showed.
Donald Trump’s Congress Speech: Date, time, and what to expect in the joint address
While formal addresses to Congress are usually carefully structured, Trump is known for his unscripted, free-flowing style, often shifting between topics.
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