The Union Budget 2025 has introduced significant changes to the income tax regime, offering relief to middle-class taxpayers. Finance Minister Nirmala Sitharaman proposed raising the basic exemption limit to Rs 4 lakh and increased the income threshold for the rebate under Section 87A to Rs 12 lakh. This means individuals earning up to Rs 12 lakh, with a standard deduction of Rs 75,000, can avoid paying taxes altogether. But for those earning more than Rs 12.75 lakh, choosing between the old

Congressman Al Green to File New Impeachment Articles Against Trump Houston Representative Al Green has announced plans to introduce new articles of impeachment against former President Donald Trump, citing what he calls "dastardly deeds proposed and dastardly deeds done."   Key Highlights:

In February 2025, US President Donald Trump’s announcement of a 30-day pause on tariffs against Mexico and Canada brought a brief sense of relief to global markets. The decision helped prevent a potential escalation of a full-blown trade war, with US equity futures and international markets responding positively. However, concerns linger about the long-term effects of tariffs on industries such as automotive, semiconductor, consumer goods, e-commerce, and green energy.  

The trade war between the world's largest economies has flared up once again. In response to President Trump's 10% tariff on Chinese goods, China has imposed a series of countermeasures, including a 15% tariff on US coal and liquefied natural gas (LNG) exports, alongside a 10% fee on US oil and agricultural equipment.   In a move that could further complicate relations, China has launch

In a bold move, U.S. President Donald Trump has unveiled plans to create a sovereign wealth fund for the United States, with the potential to become one of the world’s largest. The executive order signed earlier this week marks the first step in establishing the fund, which could play a key role in driving national investments and generating wealth for future generations.   While many nat

In a dramatic shift for U.S. foreign aid, President Donald Trump has placed the U.S. Agency for International Development (USAID) under the control of the State Department, marking a potential end to the agency’s independent operations. Secretary of State Marco Rubio, now acting administrator of USAID, has delegated key responsibilities to Pete Marocco, a Trump ally accused of dismantling the agency from within.  

President Donald Trump has announced a 30-day suspension of 25% tariffs on Canada and Mexico, preventing a looming trade war with the two North American nations. The decision follows last-minute negotiations with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum, who agreed to reinforce their borders with the United States. While this move provides temporary relief, the U.S. has not backe

On February 4, Indian stock markets experienced a strong rally as the Sensex and Nifty surged following positive global cues and optimism surrounding a potential rate cut by the Reserve Bank of India. The Sensex opened at 77,687.60 and gained over 700 points to reach 77,952, while the Nifty 50 opened at 23,509.90 and rose nearly 1% to 23,582. Mid-cap and small-cap stocks also posted gains, contributing to an overall bullish sentiment in the market. Investor confidence was boost

German Chancellor Olaf Scholz warned on Monday that the European Union would take countermeasures if the United States proceeded with imposing additional tariffs on EU exports. Speaking upon his arrival at an EU summit in Brussels, Scholz emphasized Europe's economic strength and its ability to respond decisively. "As a strong economic region, we have the capacity to take independent action an

Volkswagen has filed a lawsuit against Indian authorities, contesting a $1.4 billion tax demand that the company describes as "impossibly enormous" and in violation of India’s import tax regulations. The dispute centers around the classification of car imports, with Indian officials accusing Volkswagen of misclassifying imports to avoid higher customs duties. In particular, Volkswagen allegedly broke down nearly complete vehicles into individual parts, which are subject to low

Under Donald Trump’s second term, US foreign policy is increasingly mirroring India’s strategic approach—prioritizing national interests over traditional alliances. Trump’s signature "America First" stance, which triggered trade wars and diplomatic strains, reflects India’s long-standing focus on self-interest, even if it means distancing from conventional multilateralism.  

Income Tax: Union Budget 2025 introduces a revamped tax regime, with key reforms aimed at providing relief to the middle class. The new tax slabs are as follows: Up to Rs 4 lakh - 0% Rs 4-8 lakh - 5% Rs 8-12 lakh - 10%

Greenlanders Overwhelmingly Reject U.S. Annexation, New Poll Shows A new poll conducted in Greenland reveals that a significant 85% of the population opposes the idea of the island becoming part of the United States, a proposal recently put forward by President Trump. The survey, published in Berlingske and Sermitsiaq, highlights Greenlanders' strong desire to maintain their autonomy despite increasing intern

PM Modi Expresses Deep Condolences Over Tragic Mid-Air Collision in Washington, D.C. In a devastating aviation tragedy near Washington, D.C., an American Eagle passenger jet collided mid-air with a U.S. Army Black Hawk helicopter over the Potomac River, claiming the lives of all 64 people on board. The incident, one of the deadliest aviation disasters in the U.S. in decades, has sent shockwaves across the world.

At the Global Labour Market Conference (GLMC) in Riyadh, an AI chatbot named 'Ryan' has gained attention for its role as a global labour market advisor. Developed by Riyadh-based Takamol, this AI-driven chatbot provides insights into job trends, workforce data, and economic forecasts related to the global labour market. It is available for interaction both at the conference booth and online, offering responses in multiple languages, including English, Arabic, French, and Spanish. Visi

DTC to Be Introduced Separately: Sources have confirmed that the much-anticipated Direct Tax Code (DTC), which seeks to simplify India’s income tax laws, will be introduced separately and not as part of the Union Budget 2025. Finance Minister Nirmala Sitharaman is expected to deliver the budget speech on Saturday, but the new tax code will be presented at a later date. This move marks a shift from earlier reports suggesting the DTC would be included with the budg

India Rejects Canadian Report on Election Interference, Accuses Ottawa of Meddling In a sharp rebuttal to allegations of election interference, India has dismissed a report by the Canadian Commission that accuses New Delhi of attempting to influence Canada’s electoral process. Instead, the Indian government has turned the tables, criticizing Ottawa for meddling in India’s internal affairs and fostering an environment conducive t

Telangana Chief Minister A. Revanth Reddy proudly announced that the state has secured approximately Rs 1.8 lakh crore in investments during his recent visit to the World Economic Forum (WEF) annual meeting in Davos, Switzerland. This marks a significant milestone for the state, with the Chief Minister emphasizing the importance of these investments in bolstering Telangana's economic growth. Taking a dig at the opposition Bharat Rashtra Samithi (BRS), Reddy refuted their claims

Prime Minister Narendra Modi is set to visit the United States in February, as confirmed by US President Donald Trump. This will mark the first meeting between the two leaders since Trump’s second-term inauguration on January 20.   According to reports, Trump and Modi recently had a productive phone call, discussing ways to enhance bilateral cooperation and strengthen the US-India strateg

With the Modi government set to present its second full budget for the third term in power, the middle and lower-income groups across India are hopeful for key reforms that could alleviate their financial burdens. The anticipated reforms in Budget 2025 include tax relief measures, simplification of income tax laws, and a focus on financial literacy, insurance, and retirement savings. Key Expectations from Budget 2025 Insurance Sector Reforms: