The Economic Times

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.

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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.

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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.

Budget announcements for West Bengal: Finance Minister Nirmala Sitharaman announced significant infrastructure development plans for West Bengal, including new dedicated freight corridors connecting Dangkuni to Surat and operationalizing 20 new national waterways within five years. These initiatives aim to boost regional development and promote energy-efficient cargo movement.

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Finance Minister Nirmala Sitharaman unveiled plans to boost India's services sector. A new committee will identify growth areas and assess technology's impact on jobs. The goal is to make India a global leader in services exports by 2047. This initiative aligns with the Viksit Bharat vision, aiming for inclusive growth through technological advancement.

Budget 2026: The Union Budget gives a significant boost to traditional wellness systems, with plans to train 1.5 lakh caregivers for yoga and Ayurveda services. Three new Ayurveda institutes will be set up, along with ten new allied health disciplines to train one lakh professionals. In addition, three new pharmaceutical education institutes and a network of 1,000 clinical trials have been proposed, underscoring the focus on healthcare skills and research.

India's Finance Minister Nirmala Sitharaman announced new support for the 'Orange Economy' in the Union Budget 2026-27. This includes setting up content creator labs in schools and colleges to boost the animation, visual effects, gaming, and comics sector. The government sees creativity-led sectors as key drivers for employment and economic growth.

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The Union Budget proposes supporting professional institutions like ICAI and ICSI to develop short-term modular courses for skill enhancement and employability. Finance Minister Nirmala Sitharaman unveiled a six-step growth plan, emphasizing manufacturing, traditional industries, MSMEs, infrastructure, security, and city economic regions to drive India's economic progress.

Budget news: India's new budget prioritizes manufacturing growth to boost the economy. The government aims to increase manufacturing's contribution to GDP and create jobs. Investments will target cutting-edge technologies and infrastructure. Reforms are planned to spur private investment and demand. India is also pursuing trade deals to counter global trade challenges. The nation is focused on long-term solutions for economic development.

Akshay Kumar refused to refund the fee after '8x10 Tasveer' movie flopped, claims producer Shailendra Singh, adding that he lost Rs 85 crore as the movie failed to perform at the box office. Singh said Akshay Kumar is money minded, a businessman first and an actor later. Akshay Kumar has a net worth of more than Rs 2,000 crores, as per Forbes, and is one of the richest actors in the industry.

MSMEs Budget news: Finance Minister Nirmala Sitharaman unveiled significant support for MSMEs in Budget 2026, aiming to bolster their growth and employment generation. The budget also introduced measures to address rising gold prices, with the Finance Minister highlighting the government's commitment to stabilizing the market. These announcements come amidst a backdrop of global economic uncertainties and India's strong reliance on gold imports.

ISM 2.0 Union Budget 2026: India is launching the second phase of its semiconductor mission. This initiative aims to produce equipment and materials, design Indian intellectual property, and strengthen supply chains. Building on the success of the first phase, this expansion will focus on industry-led research and training centres.

Finance Minister Nirmala Sitharaman has announced a significant boost to public spending. Capital expenditure will rise to 12.2 lakh crore in FY2026-27. This move underscores a continued focus on infrastructure-led growth. The government will prioritize developing infrastructure in cities with populations over five lakh. This includes tier-2 and tier-3 cities that are emerging as key growth centers.

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Union Budget 2026: With the announcement of the 'Biopharma Shakti' initiative, India is gearing up to take the world stage in biopharmaceutical manufacturing. Finance Minister Nirmala Sitharaman revealed plans to inject Rs 10,000 crore into this sector over the next five years. This initiative will significantly enhance domestic production of biologics and biosimilars.

India is set to boost its rare earth capabilities. The government will support states like Odisha and Kerala to establish dedicated rare earth corridors. This move aims to reduce import dependence and build a complete domestic ecosystem. Initiatives include incentives for permanent magnet production and recycling of critical minerals.

Finance Minister Nirmala Sitharaman presented the Budget for 2026-27, emphasizing a commitment to reforms and the nation's journey towards becoming a Viksit Bharat. She also tabled the 16th Finance Commission report for tax revenue devolution. This marks Sitharaman's ninth consecutive budget, bringing her closer to Morarji Desai's record.

Prime Minister Narendra Modi's Union Cabinet has approved the Union Budget 2026-27, with Finance Minister Nirmala Sitharaman set to present it in the Lok Sabha. This marks Sitharaman's ninth Budget and the third for the current NDA government, presented amidst global economic uncertainties. The Budget will be delivered in a paperless format, continuing the trend initiated in previous years.