Why 'One, Big, Beautiful Bill Act' has raised alarm among Indians in America
The 'One, Big, Beautiful Bill Act' in the U.S. House is causing anxiety among Indians in America due to a proposed 5% tax on remittances sent abroad by non-citizens. This could significantly impact Indian households in the US, potentially reducing India's foreign currency inflows by billions and weakening the rupee. A Think Tank even goes to the extend of warning that it may force RBI intervention.
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