Free unlocking editor’s abstract
FT’s editor Roula Khalaf chose her favorite story in the weekly news and communication.
India announced the tax reduction of the middle class and measures to improve the convenience of business, because the government of Narendra Modi revealed the first annual budget since the re -election of last year’s re -election last year. Essence
The solid -income Indians’ sweeteners and small and medium -sized enterprises and measures designed to revitalize the fifth largest economy in the world and the recovery of the needs of urban consumers. This is the core political basis of the Bharatiya Janata Party of Modi.
Treasury Minister Nirmala Sitharaman announced on Saturday that the personal income tax threshold has increased to the following, and taxpayers should not owe 12 million rupees (US $ 13,842), higher than 700,000 rupees, and restrict the cost of levy to collect the should Tax and fee income. She said the government will launch a new income tax form next week.
The Minister of Finance added that the new interest rate will “reduce the taxes of the middle class in essence and leave more money in their hands to increase family consumption, savings and investment”, because members of the ruling alliance shout “Modi, Modi” Essence
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Sitharaman (Sitharaman) said in a more relaxed measure of business that the supervision and reform committee of such regulations will be launched. And the years of creating a national investment friendly index.
Sitharaman said: “The light regulatory framework based on principles and trust will release productivity and employment.”
For a long time, corporate groups have urged India to reduce the heavy documents and compliance burdens, and reform the rules of labor and land markets to stimulate investment and create employment opportunities.
“The focus of the budget is basically the focus of tax reduction and consumption in the field of medium -income,” said EMKAY’s chief economist of Emkay Global Financial Services.
India has rebounded since its popularity on the 19th, and is still the fastest growing economy in the world. However, the GDP growth of the second fiscal quarterly quarterly quarterly GDP in September was 5.4 %, the slowest in the past two years.
Although the national infrastructure spending is huge, private investment has been slow, and the opportunity for employment is weak. The inflation has been at the top of the reserve banks authorized by the Indian Reserve Bank, which has limited its scope to reduce the loan rate.
Vijayaraghavan Swaminathan, the head of the Stock Research of Qinna Avendus Spark, said the government announced that the purpose of tax cuts would be “very clear” and they would “breathe” to middle -class families.
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In a special transaction on Saturday, India’s benchmark NIFTY 50 Blue Chips Index fell by 0.5 %, although consumer stocks were encouraged by Sitharaman to reduce income tax pressure.
“So far, the market is confused,” Swaminathan said. “There are many numbers to be observed, including how the government will accommodate this tax collection.”
In the Indian annual economic survey issued by the government on Friday, the Ministry of Finance depicts the challenges facing youth and economy. These include relying on China’s supply chain stores that provide key industries for services, such as solar, advanced batteries and electric vehicles.
The report was written by Modi’s chief economic adviser to Vanantha Nageswaran. He also urged India’s central and state government to “get rid of the predicament”, or faced “if it was not a high -level high -level high -level high -level high -level high -level high level High risks of economic growth. ”
The report predicts that the actual GDP in the fiscal year increased by 6.4 % to 8.2 % below 2023-4 years. In the upcoming 2025-6 fiscal year, government forecasts increased by 6.3 % to 6.8 %.
