Freeland emphasized the need for Canada to retaliate strategically, saying, “Our counterpunch must be dollar-for-dollar and precisely targeted.” The proposal comes amid ongoing tensions as Trump has repeatedly referred to the US trade deficit with Canada, a nation rich in natural resources, as a subsidy.

Canada is a key export market for 36 US states, with nearly $3.6 billion Canadian (US$2.7 billion) worth of goods crossing the border each day. However, John Ries, senior associate dean at the University of British Columbia, cautioned against publicizing such a list in advance, suggesting it could provoke Trump and make it more difficult for him to back off from his tariff threats.

Freeland also pledged that, if elected, she would prevent American companies from bidding on Canadian federal procurement contracts (excluding defense). She intends to convene an international summit with leaders from Mexico, Denmark, Panama, and the EU to discuss joint responses to challenges to sovereignty and economic stability.

While some lawmakers have proposed cutting energy shipments to the US, Alberta Premier Danielle Smith opposed this idea. Former Bank of Canada governor Mark Carney, another Liberal leadership contender, also suggested cutting Quebec’s hydro exports to the US as a possible response.

Freeland’s recent resignation as finance minister led to Trudeau’s announcement that he would step down as Prime Minister once a new Liberal leader is chosen on March 9. With opposition parties vowing to bring down the minority government, a federal election is expected this spring.

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Manoj Varshney, a travel agency owner in Delhi, believes this decision will stimulate economic activity. “The middle-class will now have more disposable income, which they will likely spend on travel, shopping, and dining out. This will, in turn, boost various sectors of the economy,” he said.

Beyond financial implications, political analysts suggest that this tax relief could influence the upcoming Delhi assembly elections. The BJP has historically been the preferred choice of the middle-class, and this budget announcement may reinforce that loyalty. Some believe it will also encourage higher voter turnout among Gen Z and millennials, who form a significant part of this demographic.

Delhi has one of the highest concentrations of taxpayers in the country, and according to data from the Periodic Labour Force Survey (PLFS), it also has a substantial proportion of salaried workers. This makes the budget’s tax relief particularly relevant for the city. Political experts argue that while this move could help BJP consolidate its support among the middle-class, it may not drastically alter the overall electoral outcome, as lower-income groups remain a major voting bloc in Delhi.

BS Vohra, president of the East Delhi RWAs Joint Front, emphasized the widespread impact of the tax relief. “Even households earning above ₹12 lakh will feel the effect because nearly every family has at least one member in this bracket. The additional income will provide financial breathing room for many families,” he said.

The budget announcement has also shifted the focus of the Delhi elections, which had been largely dominated by debates on welfare schemes and free services. With elections scheduled for February 5, the Aam Aadmi Party (AAP) is seeking a third consecutive term, while the BJP is hoping to capitalize on voter dissatisfaction with the current administration. The Congress, aiming to regain relevance after poor performances in the last two assembly elections, has yet to make significant inroads.

Praffulit Bisht, an assistant professor at Miranda House, believes the tax announcement could reshape public perception. “There has been a sentiment that the Centre has ignored the middle-class for too long. This budget shows that their concerns are finally being addressed,” he said.

Ashwini Marwah, general secretary of the Lajpat Nagar Traders’ Association, noted that middle-class voters have traditionally been overlooked in the race for votes. “This budget sends a clear message that the government values the middle-class, not just in Delhi but across India. However, whether this translates into electoral gains for the BJP remains to be seen,” he said.

Alka Kapoor, principal of Modern Public School in Shalimar Bagh, echoed similar sentiments. “For too long, the middle-class has been neglected in policymaking. Any move that eases our financial burden is welcome. This tax relief will benefit not just individuals but entire families,” she said.

Delhi BJP chief Virendra Sachdeva praised the budget, stating that it aligns with the aspirations of salaried professionals and young urban workers. “By increasing the income tax relief limit to ₹12 lakh, the Modi government has empowered the middle-class like never before,” he said.

A senior BJP leader, speaking on condition of anonymity, noted that the party already has a strong presence among the middle and upper-income groups. “This budget further strengthens our position. Along with the upcoming eighth pay commission, these measures will help us consolidate our base,” he said.

The Aam Aadmi Party, which had earlier advocated for a tax rebate up to ₹10 lakh, argued that the budget did not go far enough. AAP leader Sanjay Singh questioned the lack of relief for small business owners. “This budget favors salaried individuals, but what about small and medium business owners? Where is their relief?” he asked.

Political analyst Sajjan Kumar Singh of PRACCIS highlighted the economic divide in Delhi’s electorate. “The middle-class has always leaned towards the BJP, and this budget will likely reinforce that trend. However, Delhi’s largest voting bloc consists of lower-middle-class and working-class voters. While the BJP may gain in vote share, achieving a clear majority could still be a challenge,” he said.

As Delhi prepares for the upcoming elections, the tax relief announced in the budget is likely to remain a major talking point. Whether it translates into electoral gains for the BJP or simply reinforces existing loyalties remains to be seen.

The post Middle-Class Tax Break in Budget May Sway Delhi Elections appeared first on FolksTimes.

He further added, “All platforms that do business in India and/or want to continue doing business in India must use correct maps.”

The criticism followed a New Year’s message on WhatsApp, owned by Meta, that displayed a map of India with inaccuracies, particularly regarding Jammu and Kashmir. After the minister’s objection, WhatsApp deleted the tweet.

WhatsApp acknowledged the error, tweeting, “Thank you, Minister, for pointing out the unintended error; we have promptly removed the stream, apologies. We will be mindful in the future.”

In June 2021, Twitter faced backlash for showing a distorted map of India and later corrected it after public criticism.

The government has reiterated that social media platforms like Twitter and Facebook operating in India must adhere to local laws and respect the constitutional rights of Indian users. Additionally, the revised IT rules impose a legal obligation on social media companies to actively prevent prohibited content and misinformation.

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The announcement, made by the Capital Market Authority (CMA) on Monday, allows foreign investors to engage with companies whose operations are tied to the annual influx of pilgrims. Mecca and Medina, home to the sacred sites of Islam, are central to the kingdom’s economic strategy, especially through the Haj and Umrah pilgrimages.

Saudi Arabia is aiming to welcome 30 million pilgrims annually by 2030, a key goal of its Vision 2030 reform plan to reduce the country’s dependence on oil revenues. In 2019 alone, the pilgrimages generated approximately $12 billion for the economy.

The CMA emphasized that the new regulations would encourage foreign investment and enhance liquidity for current and future real estate developments in Mecca and Medina. The move is seen as a significant step in the kingdom’s ongoing efforts to attract foreign capital to diversify its economic base.

The move also reflects a broader trend within the Saudi stock market, which has been open to foreign investors since 2015. Since then, the country has seen a surge in new listings, further integrating the Saudi market into the global investment landscape.

As part of the new investment policy, foreign ownership in the companies involved will be limited to shares, convertible debt instruments, or a combination of both. However, non-Saudis will be restricted from owning more than 49% of any listed company in the sector. This policy excludes “strategic foreign investors,” ensuring that the kingdom maintains control over key assets.

The announcement has already had a positive impact on the stock market, with shares of companies like Jabal Omar Development Company and Makkah Construction and Development Company – both of which own real estate in Mecca – rising by 10%.

In 2021, Saudi Arabia had already opened up opportunities for non-Saudis to invest in real estate funds within the boundaries of Mecca and Medina. This latest development marks another important step in the kingdom’s ongoing efforts to modernize its economy and attract global investment.

With these changes, Saudi Arabia is positioning itself as a significant player in the global real estate market, offering lucrative opportunities tied to one of the world’s most important religious and cultural events.

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