Tax Stability, Transparency Key Guiding Principles Of Budget 2021-22

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On Friday finance Minister Nirmala Sitharaman said transparency and tax stability were the key guiding principle of Budget 2021-22. Contrary to the expectations of a COVID-19 tax, the government has chosen to fund the budget stimulus through higher borrowing rather than increased taxes, she said while addressing members of industry chamber CII.

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economy of france rebounds in the third quarter, but new covid lockdown risks a ‘double-dip’

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The Economy of France bounced back in the third quarter as it profited from a summer period with few social restrictions. However, the focus is now on the final quarter of the year after the two largest economies in the euro area announced nationwide lockdowns.

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Struggling retailers rush to file for bankruptcy as fears of a second wave of cOVID-19 linger

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Over a 2 week span in early July, seven retailers, including The Paper Store, Brooks Brothers and Lucky Brand, filed for bankruptcy protection. J.Crew, Neiman Marcus and J.C. Penney and four other retailers had already filed in May. Lord & Taylor and the off-price shop Stein Mart led another wave that hit earlier this month. Some would say it has been a flood, but what’s coming could be a tsunami.

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ECONOMIC DATA – U.S. Economic Growth Accelerates in Q1 2019, Growth not as Strong as Headline Implies

The U.S. economic growth accelerated in the first quarter of 2019, in contrast to expectations. On an annualized basis, the economy grew 3.2 percent, an acceleration from 2.2 percent in the fourth quarter of 2018. Nevertheless, the acceleration was built on shaky foundations, as half of the quarter’s growth was because of a build-up inventories and a fall in imports, which meant net trade contributed one percentage point to growth.

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