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.
Why ‘One, Big, Beautiful Bill Act’ has raised alarm among Indians in America
