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In a post-Trump world, trade gets special focus in budget; govt opens domestic market for some imported vehicles

As US president Donald Trump threatens to impose reciprocal tariffs on its trading partners, potentially upending global commerce, India has placed a significant emphasis on invigorating manufacturing and exports while also opening up the domestic market. As part of the customs duty rejig, the government lowered import tax on a range of products such as...

Centre sets new five-year target to cut debt to half of GDP; signals robust capital spending, support to states

The Union budget has set a new five-year target to cut the central government’s debt to 50% of gross domestic product, give or take 1%, by 31 March, 2031. The budget, presented by finance minister Nirmala Sitharaman on Saturday, also sought to signal the Narendra Modi administration’s commitment to fiscal prudence and infrastructure creation, including...

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