“The noise around weaker tax revenue has marred the government’s fiscal profile four months into FY24. What strikes us here is that the weakness in tax revenue has been led by a 10% contraction in corporate tax collections in 4MFY24 (April-July) vs 11% budgeted growth for the year,” wrote Madhavi Arora and Harshal Patel, economists at Emkay Global Financial Services.
Dollar slides on easing trade tensions, Fed expectations
The dollar weakened due to Trump’s potential shift in tariff talks and expectations of Federal Reserve rate cuts. The euro reached a seven-week high. Sterling
June 12, 2025