The Economic Times

India's latest budget prioritizes fiscal consolidation with a gentle approach, focusing on capital expenditure to counter elusive private investment and geopolitical risks. The industrial strategy aims to boost electronics, support labor-intensive sectors against rising tariffs, and derisk critical supply chains. However, risks include state fiscal wobbles, potential disruption in rural employment schemes, and neglect of mega-city livability.

India plans to significantly boost its global services sector share to ten percent by 2047. A new panel will identify growth areas and assess technology's impact on jobs. The government is emphasizing digital services, health, education, and tourism. Tax holidays are offered for cloud services using Indian data centers.

India's 2026 budget focuses on predictable growth. It aims to attract global investment with clear tax rules for technology and data centers. Manufacturing in critical areas like defense and advanced electronics is also a priority. Reforms simplify business operations. This strategy positions India for long-term growth and a key role in global supply chains.

India's new budget champions manufacturing, aiming to significantly increase its contribution to the nation's GDP. Key sectors like semiconductors, electronics, and textiles receive substantial funding. Initiatives like the Biopharma SHAKTI program and production-linked incentives are designed to build domestic capacity and reduce reliance on imports. This strategic focus supports job creation and economic growth.

A Russian drone strike on Dnipro killed 15 mineworkers, hours after peace talks were rescheduled. The attack, targeting energy sector workers, injured seven others. Meanwhile, Russian drones also hit a maternity hospital in Zaporizhzhia. Peace talks between Russia, Ukraine, and the U.S. are now set for February 4-5 in Abu Dhabi.

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Iran has warned of regional conflict if the United States attacks. This comes amid heightened tensions and increased U.S. naval presence in the Middle East. Iran also designated European Union armies as terrorist groups. This move is a direct response to the EU's earlier decision to label Iran's Revolutionary Guards as a terrorist organization.

The nearly 22 per cent hike in capital budget combined with the government's decision to scrap basic customs duty on components and parts for production of civilian and other aircraft is being seen by the industry as a major move.

While Finance Minister Nirmala Sitharaman did not make any big-ticket announcements for the poll-bound states in her Budget speech, there were proposals for high-speed rail links for Chennai, an ecologically-sustainable mountain trail at Podhigai Malai in the Western Ghats and a rare-earth minerals corridor in southern states.

Sunil Bharti Mittal, Chairman of Bharti Enterprises, praised the Union Budget 2026-27. He described it as a bold plan for growth and inclusion. The budget emphasizes skilling, science, and research to boost India's capabilities. Investments in infrastructure and the digital economy are also key. Bharti Airtel Foundation will support education and talent development.

Australian Open 2026: Nadal, the 22-time Grand Slam champion and a two-time Australian Open winner, was front row at Rod Laver Arena on Sunday duirng final showdown between Alcaraz and Djokovic.

Jeffrey Epstein drafted notes to and about Bill Gates, the billionaire co-founder of Microsoft, suggesting that he engaged in extramarital sex, according to emails that the Justice Department released on Friday.

ISRO's ambitious space station and human spaceflight goals receive a significant boost. The Union Budget 2026-27 allocates Rs 13,705.60 crore to the Department of Space. This funding supports crucial projects like the Gaganyaan mission and the Next Generation Launch Vehicle. The increased allocation signals strong government support for ISRO's future endeavors and private sector involvement.

Pakistan faces potential export and job losses. India's new trade deal with the European Union could reduce Pakistan's tariff advantages. This impacts its key textile and apparel sectors. Officials are reviewing the situation. Pakistan remains committed to its strong trade ties with the EU. The country aims to navigate these evolving trade dynamics.

Union budget 2026-27- The Union Budget 2026-27 has proposed to launch a scheme for the development of Buddhist circuits in Arunachal Pradesh, Sikkim, Assam, Manipur, Mizoram and Tripura

The 2026-27 Union Budget is being celebrated for its forward-thinking approach that prioritizes the average citizen. With a strategic focus on curbing inflation and expanding opportunities, it earmarks significant funds for health, education, and infrastructure, fostering job creation. Farmers will gain from improved irrigation systems and better storage facilities.

India's seafood exports are set to see more value-added products. A threefold increase in duty-free import limits for processing inputs will lower production costs. This move aims to boost competitiveness against rivals like Vietnam and Thailand. Value-added products currently form a small portion of India's seafood exports. This change is expected to significantly improve that share.

Manipur BJP MLAs are summoned to Delhi for crucial talks on forming a popular government, as President's Rule nears its one-year mark. Discussions will address the state's political future amidst ongoing ethnic tensions and demands for separate administration by Kuki-Zo tribal legislators. The meeting aims to decide on government restoration.

The Defence Ministry's budget has seen a 15% increase, reaching Rs 7.85 lakh crore for FY26-27. Capital expenditure, crucial for modernization, has jumped by 21% to approximately Rs 2.9 lakh crore, with significant allocations for aircraft, aero engines, and the naval fleet. This boost aims to enhance the operational capabilities of the Indian Armed Forces.

West Bengal Chief Minister Mamata Banerjee has strongly criticized the Union Budget. She described it as a 'Humpty Dumpty Budget' and claimed it offered nothing for West Bengal. Banerjee stated the budget is directionless and anti-people, impacting farmers and women. She pointed to the stock market's sharp fall as evidence of the budget's negative reception.

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Budget 2026-27: In a boost to Indias creative industries, Union Finance Minister Nirmala Sitharaman has announced government support for the countrys Orange Economy in the Union Budget 2026-27. The government has backed animation, gaming, VFX and comics in the budget. Nirmala Sitharaman said the government would support the Indian Institute of Creative Technologies, Mumbai, to set up animation, visual effects, gaming and comics and content creator labs.

Iran's supreme leader has issued a stark warning to the United States, stating any war initiated by them will escalate into a regional conflict. Meanwhile, Iran's parliament speaker has designated all European Union militaries as terrorist organizations. These developments occur amidst heightened tensions in the Middle East and Iran's planned military drills in the Strait of Hormuz.

In the Union Budget 2026-27, Union Finance Minister Nirmala Sitharaman proposed a hike in Securities Transaction Tax (STT), on both futures and options, by up to 150%. After the announcement, the shares of BSE, Angel One, and Groww tanked and there was a bloodbath on Dalal Street. Here is a complete explainer of what STT, F7O trading are, and why the hike left traders worried.

The Union Budget 2026-27 significantly increased the Ministry of Home Affairs' allocation to Rs 255,233.53 crore, with a substantial portion directed towards central police forces. Key allocations were also made to Jammu and Kashmir, the national capital, and various Union Territories, alongside funding for Census work and modernization of police forces.

In a shocking federal case, Real Brokerage CEO Tamir Poleg is accused of offering employee Paige Steckling over 27 crore ($3.2M) to end her marriage. Her husband, Michael Steckling, has filed a 45 crore ($5M) lawsuit against the CEO, alleging alienation of affection and the systematic destruction of his family.

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India's Union law ministry has received significant funding for voter identity cards and to settle Lok Sabha election expenses. With a voter base of 99 crore, Rs 250 crore is allocated for voter identity cards, a cost shared between the Centre and states. An additional Rs 500 crore is designated for the 2024 Lok Sabha polls.

The Union Budget 2026-27 earmarks Rs 1,102 crore for key government offices. This includes substantial funds for the Council of Ministers, the Prime Minister's Office, and the Cabinet Secretariat. Hospitality and entertainment for state guests also receive an allocation. The National Security Council Secretariat and the Principal Scientific Advisor's office see budgetary provisions.

The government is launching an Infrastructure Risk Guarantee Fund to support lenders and boost private developer confidence. Capital expenditure for infrastructure creation will see an 11% increase. Focus will be on developing infrastructure in Tier II and Tier III cities. A new scheme will also promote domestic manufacturing of construction and infrastructure equipment.

The government is significantly boosting funds for roads and highways. The Ministry of Road Transport and Highways receives Rs 3.10 lakh crore for the upcoming fiscal year. This increased allocation will drive the development of national highways and expressways. Maintenance of existing road networks also receives a substantial focus.

The government's annual subsidy expenditure on food, fertilizer, and fuel is projected to decrease by 4.47% to Rs 4,10,495 crore in FY27. This reduction is driven by lower estimates for food, fertilizer, and petroleum subsidies, with the Pradhan Mantri Garib Kalyan Anna Yojana remaining a significant allocation for food support.

India has strongly denied Pakistan's claims of Indian interference in Balochistan. New Delhi stated these allegations are a tactic to divert attention from Pakistan's internal problems. India highlighted Pakistan's history of human rights violations in the region. Recent counter-terrorism operations in Balochistan resulted in significant casualties on both sides.

A powerful cool change is sweeping across Australia's south-east. This brings relief to millions after a brutal heatwave shattered temperature records. Power networks were strained and emergency services pushed to the brink. Milder conditions are expected to continue into next week for parts of the country. Record-breaking heat scorched Victoria and South Australia.

India's federal budget has significantly boosted GIFT City, doubling its tax holiday for new businesses to two decades. This move aims to attract global reinsurers and position the financial hub as a key gateway for international capital. Following the tax-free period, companies will face a flat 15% tax rate, a substantial advantage over the 35% rate elsewhere.

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Finance Minister Nirmala Sitharaman has set a significant gross tax revenue target for the 2026-27 fiscal year. This projection relies on sustained economic expansion and enhanced tax compliance. Tax collections have shown resilience, boosted by strong Goods and Services Tax inflows and better direct tax adherence. The government aims to broaden the tax base while rationalizing rates.