The Union budget praised abolishes the angel tax and sets a 35% foreign tax rate, boosting global investment. Duty cuts enhance local manufacturing and supply chain efficiency. The budget prioritizes healthcare with cancer drug exemptions, supports innovation, reforms digital taxation and transfer pricing, and promotes ESG financing, safe harbors, and cross-border transactions. The US India Strategic and Partnership Forum (USISPF) commended the reforms, emphasizing the significant impact on India’s startup ecosystem and international investor confidence. The forum highlighted the strides towards fiscal prudence, healthcare accessibility, and financial sector efficiency, projecting increased economic growth and innovation. The USISPF expressed optimism for India’s future economic prospects and global competitiveness following these strategic budget initiatives.
USISPF Applauds Landmark Reforms in India’s Union Budget
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