On February 1st, the Finance Minister will unveil the national Budget detailing finance strategies. This year, anticipated personal income tax reforms could alleviate tax burdens and encourage compliance. Additionally, significant divestments in public sector enterprises might counterbalance revenue shortfalls and stimulate market optimism.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.