The World Bank has advised India to lower import tariffs, ease regulatory restrictions, and simplify trade processes to enhance its global trade competitiveness and attract foreign investment. In a report released on Friday titled the Economic Memorandum on India, the World Bank highlighted that high trade costs caused by import tariffs on intermediate and capital goods, as well as non-tariff barriers, are limiting India's participation in global value chains (GVCs).The report emphasized

India will continue to rationalize import duties and streamline its customs tariff structure, Finance Minister Nirmala Sitharaman stated during a post-Budget press conference in Mumbai. She emphasized that anti-dumping duties are periodically reviewed to ensure a fair and investor-friendly trade environment. The government’s tariff policy reforms aim to make India an attractive investment hub while ensuring global competitiveness.Addressing concerns about imported inflation amid global

The Internal Revenue Service (IRS) is facing an unexpected challenge as reports indicate that thousands of probationary workers will be laid off in the middle of the 2025 tax season. This decision comes at a crucial time when the agency is preparing to handle millions of tax returns and provide assistance to taxpayers across the country. The timing of these layoffs has raised concerns among financial experts, policymakers, and the public, as it may impact the agen

 This Valentine’s Day, as prospective brides and grooms prepare to unite their lives, discussing financial goals and aspirations is crucial for setting a solid foundation for a healthy marriage. Honest conversations about money help align values, reduce the chances of future conflicts, and create a framework for long-term financial success. Couples should focus on shared goals such as saving for emergency funds, planning for home buying, setting a budget for yearly expenses, and ad

Union Finance Minister Nirmala Sitharaman is expected to introduce a new Income Tax Bill in Parliament today that will replace the existing Income Tax Act of 1961. The purpose of this new bill is to simplify the language and provisions of the current tax law, making it easier to understand and more accessible for taxpayers. The bill is part of the government’s ongoing efforts to reform and modernize the Indian tax system. The new bill will streamline various processes, eliminate complex

Elon Musk Defends Cost-Cutting Reforms in Oval Office Meeting with Trump Elon Musk has defended his aggressive cost-cutting measures, presenting them as a rational and necessary strategy to curb excessive government spending. Appearing alongside President Trump in the Oval Office on Tuesday, Musk outlined his vision for streamlining federal operations through the proposed Department of Government

US-India Trade Relations: Key Insights in 4 Charts As global trade policies evolve, the economic partnership between the United States and India is under the spotlight. With Prime Minister Narendra Modi visiting Washington this week, discussions are expected to focus on trade policies, tariffs, and strategic economic cooperation. Here’s a closer look at the current state of US-India trade.

Trump Announces 25% Tariffs on Foreign Steel and Aluminum, Eliminating Exemptions Former President Donald Trump announced on Monday that the United States will impose a 25% tariff on foreign steel and aluminum imports, marking a significant escalation in his efforts to bolster the U.S. economy through import taxes. The newly modified duties will be implem

A recent revelation that Elon Musk’s Department of Government Efficiency (DOGE) was granted access to sensitive U.S. Treasury payment systems has sparked security concerns, legal battles, and political debates. Critics fear the move could expose taxpayer data and disrupt critical federal funding.   Legal Battle Over Treasury Access

Budget 2025: Key Tax Changes for NRIs and Foreign Investors Finance Minister Nirmala Sitharaman's Budget 2025 proposed several important tax reforms that directly affect Non-Resident Indians (NRIs) and foreign investors. These updates aim to simplify taxation, promote NRI investments, and align the tax regime with global standards. Below is a breakdown of the major changes: Presumptive Taxation Regime for Foreign