<h1>Rupee's Value Driven by Market, Not Daily Fluctuations; New Income Tax Proposal Heads to Lok Sabha for Review.</h1> The Reserve Bank Governor stated that the value of the rupee against the US dollar is determined by market forces, and the central bank is not concerned with daily fluctuations. The focus is on the rupee's medium to long-term value. A 5% depreciation of the rupee impacts domestic inflation by 30-35 basis points. The current exchange rate is considered in growth and inflation projections for the next financial year. The Finance Minister announced that the Union Cabinet has approved a new income tax proposal, which will soon be introduced in the Lok Sabha and then reviewed by a parliamentary standing committee.