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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New Delhi, March 28 (IANS) Exports from operational special economic zones (SEZs) totalled over Rs. 11.70 lakh crore in 2025‑26 (till December 2025), marking a 32.02 per cent increase from 2024, the government said on Saturday.There are 368 notified SEZs in India (as of February end) and the total investment in those areas stand at Rs 7.86 lakh crore, the official statement said.SEZs employed over 31.73 lakh people (as of December 2025), it added.The Union Budget 2026‑27 proposed a special o…
Mumbai, Feb 6 (IANS) RBI Governor Sanjay Malhotra said on Friday that the government’s borrowing programme is on the lower side, which would enable it to raise the required resources at reasonable prices.Addressing the post-monetary policy press conference, the RBI Governor said there was a need to focus on the net borrowing figure rather than gross borrowings.“It may not be right to look at the gross borrowing number alone. There are much more redemptions in FY27 so gross borrowing is expec…
New Delhi, Jan 29 (IANS) The UK India Business Council (UKIBC) on Thursday called for a simplified tax regime through exemptions on capital tax gains from foreign portfolio investors FPIs and other investor-friendly reforms from Union Budget 2026-27.The business advisory body also called for strengthening the GIFT City proposition as a globally competitive financial services hub, simplified GST compliance, incentives and support for the telecom sector.It urged the government “to provide increase…
New Delhi, Jan 22 (IANS) Federation of Indian Export Organisations on Thursday urged the government to use the Union Budget 2026 to tackle cost competitiveness issues faced by exporters through customs duty rationalisation and tax incentives.FIEO proposed five measures ranging from customs duty rationalisation to support for domestic shipping lines and enhanced tax incentives for R&D.The industry body argued targeted fiscal support and policy certainty are essential as India competes for glo…