The budget simplifies tax collection with revised Tax Collected at Source (TCS) rates, significantly benefiting overseas travelers, students, and those seeking medical treatment abroad. Changes include a reduced 2% TCS on education, medical, and tour packages under ₹10 lakh, easing upfront costs.
Fed Governor Michael Barr signals more rate hikes needed to tame inflation
Federal Reserve Governor Michael Barr announced that additional rate hikes may be necessary to manage inflation. He indicated that while economic growth is strong, inflation