Modi's tax cuts will give India a festive spending boost

The Indian government has announced tax cuts on consumer goods, aimed at boosting festive spending and offsetting the impact of U.S. tariffs. The move is expected to provide relief to consumers and businesses, as it will reduce the overall tax burden. The tax cuts, which are effective immediately, are expected to benefit sectors like automobiles, electronics, and consumer durables. This is seen as a strategic move to spur economic growth and ease the pressure on consumers amid the ongoing trade tensions between India and the U.S. The decision comes at a crucial time, as India prepares for the upcoming festive season, which is a significant driver of consumer spending. The tax cuts are expected to increase disposable income and encourage consumers to spend more, potentially giving a much-needed boost to the economy. While the impact of the tariffs remains a concern, the government's efforts to provide tax relief are viewed as a positive step towards supporting the Indian economy and its consumers.