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US President Donald Trump intends to impose reciprocal tariffs on countries like China, Brazil, and India to address trade imbalances and make American industries more competitive. While US tariffs are comparably low, Trump's statements suggest a tit-for-tat approach that might lead to increased prices in the US.
New Income Tax Bill 2025: Finance Minister Nirmala Sitharaman introduced the New Income Tax Bill 2025 in Lok Sabha, set to replace the Income Tax Act 1961. The new bill aims to simplify tax provisions with clearer language, reducing its length and eliminating redundant sections while consolidating related content for easier understanding and compliance.
Foreign investors have been selling Indian equities rapidly since the start of 2025, with outflows nearing Rs 1 lakh crore. This sharp shift follows US President Donald Trump's return to the White House, leading investors to favor the American economy.
Harsh Jain, CEO of Dream11, demands an independent regulator like Sebi for the online gaming industry. He warns that the sector will collapse if forced to pay the retrospectively imposed GST, which impacts 400 companies and threatens their financial viability. Jain suggests lower tax rates based on Gross Gaming Revenue.
Hitesh Mehta, the general manager of New India Cooperative Bank, was arrested by Mumbai police for allegedly embezzling Rs 122 crore. The case, initially reported at Dadar police station, was later transferred to the Economic Offences Wing. The arrest followed a complaint by the bank's acting CEO.
Labour and employment minister Mansukh Mandaviya emphasized the Modi government's priority on industry and trade to elevate India to a developed nation by 2047. Highlighting initiatives like 'Make in India' and 'Startup India', he noted the increase from four to 118 unicorns over the last decade.
A Mumbai court has remanded Hitesh Mehta, a former general manager of New India Cooperative Bank, and Dharmesh Paun in police custody until February 21 for allegedly misappropriating Rs 122 crore. The Reserve Bank of India has taken control of the bank's board and imposed withdrawal restrictions amid ongoing investigations.
2025/02/16 14:42:52
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