NEW DELHI: (Bloomberg) Ratan Tata (pic), the businessman who inherited one of India’s oldest conglomerates and transformed it through a string of eye-catching deals into a global empire, has died. He was 86.
PETALING JAYA: Corporate Malaysia and the public are eager to uncover Budget 2025 specifically pertaining to what the government will unveil to shore up its revenue.
According to economist Lee Heng Guie, the trickle-down effect of the country’s growth has been slow and it will take time for the benefits to be passed down to the people. He opined that it is imperative to preserve the strength of the ringgit against other major currencies in the world. Ferlito emphasised that the pillars of such a reform include a slight reduction in the income tax, the introduction of a multi-tier goods and services tax, as well as a special and simplified fiscal scheme for micro businesses.
On the other hand, she cautioned that several factors are poised to exert upward pressure on prices in 2025, with the two largest factors being the impending removal of blanket subsidies on RON95, and the scheduled salary increases for civil servants. While rationalising diesel subsidies is expected to save RM4bil in government expenditure, she said the scheduled civil servant pay hike will add RM10bil in costs.
He reiterated that the trade balance has been declining since August 2023 and investment announcements will not impact the economy for the next two to three years.
Budget2025 Malaysiaeconomy Fiscalreform Subsidyrationalisation Inflationcontrol Revenueexpansion Taxreform Economicgrowth
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