India’s proposed GST 2.0 is being framed as the biggest reform to the indirect tax system since 2017: India’s upcoming GST 2.0 announcement, slated for implementation by Diwali, is being widely promoted in the media as a “Diwali gift”—a measure to reduce burdens on everyday consumers. Prime Minister Modi’s Independence Day speech has already prompted headlines calling it “a brighter gift of simpler taxes” and a “gamechanger” for GST.
US President Donald Trump announced a 25% tariff on Indian exports.
The rupee's sharp decline to ₹86.62 against the dollar in Jan 2025 raises concerns due to higher import costs and inflation but may not boost exports due to shifting from price-sensitive to income-sensitive items, amidst global economic challenges and potential geopolitical resolutions affecting the US dollar.
Farmers protest annually for fair prices and wages. Minimum Support Price and its impact on various crops are key issues. Small farmers struggle with low incomes and market access. Loan waivers offer limited relief. Policy debates focus on balancing farmer needs with market realities. The government faces challenges in supporting farmers while managing the budget.
India’s trade deficit is a result of income-sensitive key exports, weak global demand and an inefficient manufacturing ecosystem
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