Washington, April 16 (IANS) Tax exemptions on overtime and targeted relief for small businesses have emerged as key drivers behind the uptake of President Donald Trump’s tax cuts, according to the White House. US Treasury Secretary Scott Bessent told reporters at a news conference that the most widely used provision in the new tax framework was the exemption on overtime income, with more than 25 million filers claiming the benefit.He said the policy was designed to reward additional work. “I…
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Washington, March 26 (IANS) US President Donald Trump has cast his economic agenda as a direct relief plan for ordinary Americans, highlighting tax cuts, falling inflation and lower drug prices as key pillars of his administration’s pitch ahead of the midterm elections. Addressing a House Republican dinner on Wednesday (Local time), Trump said his administration was focused on reducing the cost of living through tax relief and deregulation.“As we rebuild the greatest economy in history, a to…
Washington, Feb 25 (IANS) US President Donald Trump declared that America was “winning again,” touting sweeping tax cuts, what he called the “strongest and most secure border in American history,” and a new policy to shield consumers from rising electricity costs linked to artificial intelligence.“For all these reasons, I say tonight—Members of Congress, the state of our union is strong,” Trump said in his State of the Union address.On the economy, Trump said his administration had del…
New Delhi, Feb 6 (IANS) India’s growth cycle is set to accelerate backed by reflation effort of the RBI and the government via rate cuts, bank deregulation and liquidity infusion, continuing capex, tax cuts and relatively stimulating budget, a Morgan Stanley report said on Friday.Thus, India’s hawkish macro set up post-Covid is now unwinding. The trade deals and thawing of relations with China add to the mix, the report mentioned.“Indian stocks enjoy a rare combination of inexpensive relat…
New Delhi, Jan 15 (IANS) The Congress on Thursday alleged that the headline GDP growth rates presented after adjusting for inflation paint a misleading picture of the economy, arguing that they mask weak underlying demand and structural issues affecting investment.Congress General Secretary in charge of Communications, Jairam Ramesh, said that the inflation-adjusted growth figures appear inflated because the price deflators used are unusually low.“The headline numbers for inflation-adjusted GD…