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News wrap: Budget 2025, UCC in Uttarakhand, China’s DeepSeek, Mahakumbh stampede, Trump’s tariffs, and more
- News wrap: From January 26 to February 1, India celebrated Republic Day. In addition to this, Union Budget 2025 was tabled, providing significant tax relief.
News wrap: This week, from January 26 to February 1, a series of major news events made headlines both globally and nationally. Keeping India in focus, India celebrated its 76th Republic Day on January 26, another key event that took place was the Union Budget 2025 which was tabled on Februaryt 1. The country also witnessed a shocking stampede tragedy in the ongoing Mahakumbh where 30 people died.
In the US, President Donald Trump continued to make headlines with executive actions, including the imposition of tariffs on Canada, Mexico, and China. The country also witnessed a horrfying tragedy where a mid-air collision occurred between an American Airlines plane and a US Army Black Hawk helicopter.
Here are the key events that took place between January 26-February 1
26 January
Republic Day 2025
India celebrated its 76th Republic Day on Sunday, and people are taking to social media to extend their Republic Day wishes. Various members of the cricketing fraternity—from Sachin Tendulkar to Rohit Sharma—also extended their wishes on social media.
27 January
UCC in Uttarakhand
Uttarakhand became the first state in India to implement the Uniform Civil Code (UCC), fulfilling a key promise made by the ruling BJP ahead of the 2022 Assembly elections. Chief Minister Pushkar Singh Dhami officially launched the UCC by unveiling its notification, releasing the rules for its implementation, and introducing a portal for the mandatory online registration of marriages, divorces, and live-in relationships.
China's DeepSeek
DeepSeek’s launch of its AI model, DeepSeek-R1, challenged the dominance of top AI companies with its latest large language models, which offer similar performance to the latest offerings from Meta or OpenAI, but at a fraction of the cost. At the time of writing, both DeepSeek R1 and DeepSeek V3 were ranked in the top 10 on Chatbot arena, a UC Berkeley-affiliated ranking that assesses the performance of leading chatbots.
29 January
Mahakumbh Stampede
A stampede-like situation arose at Mahakumbh on January 29, in which at least 30 people were killed and 60 were injured. Hours after the tragic stampede, another stampede occurred just 2 kilometers away. The second stampede at Maha Kumbh was reported in the Jhusi area around 5.55 am as the police and the administration were huddling to rescue the victims of the first stampede.
Washington plane crash
A mid-air collision occurred between an American Airlines plane and a US Army Black Hawk helicopter near Reagan National Airport outside Washington, DC on Wednesday night. The collision resulted in both aircraft crashing into the Potomac River. US authorities have confirmed that all 67 people are feared to be dead.
January 31
Economic Survey
Union Finance Minister Nirmala Sitharaman tabled the Economic Survey in Parliament on Friday, January 31. According to the survey, India's FY26 GDP growth is expected in the range of 6.3-6.8 per cent amid global uncertainty.
February 1
Trump puts tariffs on Canada, Mexico, China
US President Donald Trump declared plans to impose 25 percent tariffs on goods from Mexico and Canada and 10 percent on Chinese imports, asserting that no actions by the countries could stop them. Canadian Prime Minister Justin Trudeau warned Americans of the "real consequence" of the "trade war" launched by US President Donald Trump on Sunday. Calling America "closest friend", Trudeau said, the "trade actions to have real consequences".
Budget 2025
The Union Budget 2024-25, presented by Union Finance Minister Nirmala Sitharaman in Parliament on Saturday, provided major relief to the salaried class with no income tax on an average monthly income of up to ₹one lakh to boost household savings and consumption with the government also giving thrust to four engines of development - agriculture, MSMEs, investment and exports.
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Business NewsNewsNews wrap: Budget 2025, UCC in Uttarakhand, China’s DeepSeek, Mahakumbh stampede, Trump’s tariffs, and more
First Published:2 Feb 2025, 12:09 PM IST
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