A busy week for domestic policymaking began with the Finance Ministry showing fiscal restraint in the FY25/26 Union Budget and concluded with the RBI kicking off its easing cycle, with an election in Delhi taking place in between. Next week, attention will shift to Prime Minister Modi's meeting with President Trump. There are a number of reasons why Trump might want to target India with tariffs, but PM Modi has already given some concessions which may help to keep India out of Trump’s crosshairs.
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