Right now a lot of people are expecting some tax relief from the Union Budget scheduled on 1-Feb. But Bloomberg has reported that India’s higher GDP is not translating to increased tax collection:
[Bloomberg's data on Tax collection. Src: https:\/\/www.bloomberg.com\/opinion\/articles\/2026-01-12\/india-has-7-4-growth-but-where-are-the-taxes ](https://preview.redd.it/tc66qnadx3dg1.png?width=760&format=png&auto=webp&s=9f10dfe4bb7d72fbe9a01ebb0e70a4dc9ae86693)
With GST 2.0, the government let go of a lot of taxes.
I think Nirmalaji's tax cuts, which everyone is expecting, might not be an easy decision. My worry is that **if they don’t do tax cuts in budget**, then where will the markets go?
25?? 24.5k?? 24k? 😱
US-India Trade deal is holding the markets back for a very long. And there is no timeline on when this could be achieved.
# Where will markets be without US-India trade deal and no tax relief?