Modi Bolsters India’s Economy With Tax Cuts Ahead of US Tariffs
Prime Minister Narendra Modi has announced a series of tax cuts in India to bolster the country's economy ahead of the implementation of US tariffs. The move is expected to provide a boost to consumption without significantly impacting the government's fiscal deficit. The tax cuts include a reduction in the goods and services tax (GST) on a range of items, from automobiles to luxury goods. This is aimed at stimulating consumer demand and offsetting the potential negative impact of the US tariffs on Indian exports. The government believes that the tax cuts will help maintain India's economic growth trajectory, which has been facing headwinds due to a slowdown in global trade and domestic investment. The measures are seen as a proactive step to cushion the Indian economy from the external challenges it faces.
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