The early weeks of 2026 have witnessed a seismic shift in the geopolitical and economic landscape as the United States and India finalised a landmark trade deal. Following a year of escalating tensions, punitive tariffs, and complex diplomatic manoeuvring, the agreement announced on February 2nd, 2026, by President Donald Trump and Prime Minister Narendra Modi marks a significant "reset" in the relationship between the world’s two largest democracies. This deal is not merely a technical adjustment of customs duties; it is a strategic alignment aimed at decoupling supply chains from shared adversaries, securing energy independence, and cementing a high-tech partnership that could define the mid-21st century. Below are the key features and pillars of this monumental agreement. 1. The Great Tariff Reduction: From 50% to 18% The most immediate and visible feature of the 2026 deal is the drastic reduction in U.S. tariffs on Indian goods. In August 2025, the U.S. administ...
India’s Union Budget 2025–26 matters most to individual taxpayers for one reason: it decides (or confirms) the income-tax slab structure , the default tax regime , and the “fine print” that can change your final outgo—rebates, cess, surcharge, and TDS/TCS rules. While you should always verify the Finance Act / Budget notifications for FY 2025–26 for the final, legally-applicable numbers, the framework below explains how slabs work and how “new taxation” typically shows up in the Budget. 1) The slab system: marginal rates, not one flat rate Income tax slabs apply marginally : each portion of income is taxed at its slab’s rate. So moving into a higher slab does not mean your entire income is taxed at the higher rate—only the income above the threshold. 2) New vs Old regime: the Budget’s big choice lever In recent years, the “ new tax regime ” has been positioned as the simpler/default option: lower slab rates but fewer deductions/exemptions (for exa...