The impact of the Finance Ministry's decision on overseas spending using credit cards is as follows:

• Boost to international tourism: With no Tax Collected at Source (TCS) on overseas spending, people may be encouraged to travel abroad more frequently. This can lead to an increase in international tourism and benefit the travel industry.
• Incentive for credit card usage: Consumers may prefer to use credit cards for their overseas transactions, as they won't have to pay any additional taxes. This can result in a boost for cashless transactions and increase credit card penetration.
• Cost savings for travelers: The elimination of TCS on credit card transactions reduces the financial burden on travelers. They can save on foreign exchange fees or currency conversion charges that they may have incurred otherwise.
• Foreign exchange fluctuations: As more people use credit cards for overseas spending, it may lead to increased currency transactions, which can impact foreign exchange rates and market dynamics.
• Revenue implications: While the decision may benefit individual travelers, it could potentially impact the government's revenue collection from TCS. The Finance Ministry will need to analyze and assess the revenue implications of this policy change.

Overall, the Finance Ministry's decision to remove TCS on overseas spending using credit cards is expected to provide incentives for travel, boost credit card usage, and result in cost savings for travelers. However, it may have revenue implications for the government.