The week in charts: Trumponomics, MSME boost, tax cut hopes

livemint.com:

Subscribe to enjoy similar stories. US president Donald Trump issued a flurry of executive orders on his first day that have left investors on the edge. Meanwhile, small businesses are likely to receive a financial boost in the budget, while India’s top IT firms have reported subdued December-quarter earnings.

At the start of his second innings as US president, Donald Trump issued a slew of executive orders, many of which overturned his predecessor’s decisions. These included ending birthright citizenship, enhanced border vetting, and pulling the US out of the Paris climate accord and the World Health Organization. The US has been the top contributor to the WHO and Trump’s decision has sparked worries of weakening of global efforts to handle health-related issues, even as the health body has been heavily criticised for its handling of the covid-19 outbreak.

The upcoming Union Budget is expected to prioritise financial support for startups and small businesses, Mint reported. Easy access to credit for micro, small, and medium enterprises (MSMEs) is on the table – a key demand from the stakeholders against the backdrop of high interest rates. Small businesses contribute nearly a third of India’s gross domestic product and employ more than 247 million people.

Other measures under consideration include enhanced funding through schemes offered by the Department of Promotion of Industry and Internal Trade (DPIIT). ₹3,200 crore: That's the size of the initial public offering (IPO) media technology unicorn Amagi Media Labs is eyeing, Mint reported. The company has hired Kotak Mahindra Capital, Citigroup, IIFL Capital and Goldman Sachs as investment banks.