Morning Digest: Hopes running high of tax cut as Nirmala Sitharaman presents record 8th budget; seven outgoing AAP MLAs resign ahead of Delhi polls, and more

Sat Feb 01 01:37:34 UTC 2025: **India’s Budget 2025: Tax Cuts Expected, Economic Growth Projected**

**Puri, India (February 1, 2025)** – Finance Minister Nirmala Sitharaman presented her record eighth consecutive Union Budget today, sparking high hopes for income tax relief, particularly for the middle class. The budget comes amidst widespread expectations of tax cuts or adjustments to alleviate the burden of high prices and stagnant wage growth. Prime Minister Narendra Modi’s invocation of the goddess of wealth further fueled anticipation of relief for the lower middle class.

The Economic Survey, presented on Friday, projects India’s economic growth to be between 6.3% and 6.8% in 2025-26, up from an estimated 6.4% this year. While highlighting robust economic fundamentals, the survey also acknowledged significant external downsides. The Congress party, however, criticized the survey as an indictment of the Modi government’s economic policies.

**Political Developments and International News**

Seven AAP MLAs resigned from the party ahead of Delhi’s upcoming assembly elections, reportedly due to dissatisfaction over ticket allocations. The Ministry of External Affairs is hosting a large delegation of diplomats from 77 countries at the Maha Kumbh Mela in Prayagraj, following a recent stampede. Rashtrapati Bhavan criticized Congress leader Sonia Gandhi’s comments on President Droupadi Murmu’s address to Parliament. Opposition dissent notes were significantly redacted from the Waqf (Amendment) Bill report, sparking outrage.

India and the U.S. are reportedly working on an early visit by Prime Minister Modi to the U.S. following a recent phone call with President Donald Trump. In international news, the Rwandan-backed M23 rebel group continues its advance in the Democratic Republic of Congo, while Myanmar’s junta extended its state of emergency by six months.

**Sports Update**

India secured an unassailable 3-1 lead in the T20I series against England thanks to strong bowling performances by Harshit Rana, Varun Chakaravathy, and Ravi Bishnoi.

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