Since October 2023, foreign transactions above Rs 7 lakh under Liberalised Remittance Scheme have attracted a 20% tax collected at source. It’s sending a signal to big spenders abroad: we are watching you.
India's forex reserves rose for a second week, increasing by $5.98 billion & stood at its highest since early July, according to RBI's statistical supplement. The rupee ended at 82.16 Friday.
These reserves have declined to $110 billion from a peak of $642 billion in September last year, largely due to the fall in the value of holdings in dollars & other currencies.
India looking at 'several options' to do business with Russia in light of the economic sanctions slapped on the country by the US and the European Union over its war on Ukraine.
President Gotabaya Rajapaksa was forced to impose an economic emergency on 31 August to contain soaring food inflation, and currency devaluation and forex reserves crisis.
The reforms were undertaken exactly 30 years ago, at a time when India was facing its worst economic crisis. Here’s a look at what led to the crisis and how India weathered it.
The hoard may help reassure investors and credit-rating companies about the Modi government’s ability to meet its debt obligations despite a deteriorating fiscal outlook.
The reserves are enough to cover around 15 months of imports and have been bolstered by rising inflows into the booming stock market and foreign direct investments.
A sound tax system is one based on the ability to pay or economic surplus. But the STT taxes the circulation of capital and not its returns, making it deeply distortionary.
Exporters said the Budget’s proposals to increase duty-free import limits on processing, create 500 reservoirs and support fisheries startups will boost the marine industry.
With recruitments under Agnipath set to rise, the Union Budget has significantly increased spending, with the Army taking nearly 87% of the total outlay.
The key to fighting a war successfully, or even launching it, is a clear objective. That’s an entirely political call. It isn’t emotional or purely military.
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