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TRUMP’S REMITTANCE TAX THREATENS GLOBAL EQUITY Syllabus: GS-3: ● Growth and development ● Taxation Why in the News? Former US President Donald Trump has proposed a 5% tax on outward remittances as part of his “One Big, Beautiful Bill.” With the US being India’s top remittance source, this proposal threatens $33 billion (approximately ₹2.7 lakh …
Read MoreWhy in the news? The Ministry of Statistics and Programme Implementation released the 2023-24 Household Consumption Expenditure Survey, highlighting reduced urban-rural consumption gaps, declining Gini coefficients, and improved economic well-being across India, reflecting increased economic inclusivity and balanced development. Urban-Rural Consumption Gap: The urban-rural consumption disparity has declined across major states, indicating balanced economic growth. …
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