The Times of India

Finance Minister Nirmala Sitharaman announced a high-level committee, 'Banking for Viksit Bharat,' to align the banking sector with India's long-term development. This move signals a strategic push for public sector banks to become globally competitive, emphasizing governance, efficiency, and technology. The announcement follows a period of significant improvement in bank balance sheets and profitability.

Finance Minister Nirmala Sitharaman unveiled India Semiconductor Mission 2.0 with a Rs 40,000 crore outlay to boost chip production, design, and workforce development. Additionally, a Rs 10,000 crore Shakti initiative aims to build the semiconductor ecosystem. The budget also prioritizes pharmaceutical advancements with new NIPERs and clinical trial networks, alongside support for rare earth manufacturing corridors.

India's GST collections surged to Rs 1.93 lakh crore in January 2026, a 6.2% year-on-year increase. This growth, driven by robust domestic and import-related revenues, reflects stable consumption and tax compliance. Net GST revenue after refunds also saw a significant rise, indicating positive economic trends.

Finance Minister Nirmala Sitharaman will present her ninth Union Budget on February 1. This marks a historic Sunday sitting. The Budget for FY27 will focus on growth, fiscal discipline, and reforms. It will also continue the paperless format. Sitharaman's journey since 2019 highlights India's evolving economic priorities.

Gold and silver prices experienced a significant tumble on Sunday, hitting lower circuits after a historic crash on Friday. Profit-taking, a stronger US dollar, and speculation surrounding the US Federal Reserve's leadership, particularly the nomination of Kevin Warsh, fueled the sharp correction in precious metals.

Railway Budget 2026 Live: At the start of this year, Indian Railways introduced the first Vande Bharat sleeper train service. The new semi-high speed train set, capable of 160 kmph speeds, is aimed at overhauling overnight travel experience on the Indian Railways network.

Nirmala Sitharaman's budget day sarees are thoughtfully selected handloom pieces that celebrate India's regional weaves, often carrying symbolic messages of growth, prosperity, and cultural pride while aligning with her Vocal for Local advocacy.

Commercial LPG prices have been revised upwards by Rs 49 for a 19-kg cylinder, bringing the Delhi price to Rs 1,740.50. This follows a previous Rs 111 increase, reversing a period of price relief for businesses. Domestic LPG cylinder prices remain unchanged.

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Union Home Minister Amit Shah on Friday hit out at the INDI Alliance over attempts to seek bail for those who raised slogans about cutting the chicken neck corridor, saying their efforts failed as the Supreme Court rejected the bail pleas and that such intentions against India would never succeed.

Sharad Pawar faces a dilemma over merging NCP factions following Ajit Pawar's death. While initial merger talks were advanced, with a February 12 date set, uncertainty now looms. Sunetra Pawar's swift oath as deputy CM complicates matters, potentially forcing Sharad Pawar to align with the BJP, a move he has previously opposed.

Aam Aadmi Party convener Arvind Kejriwal asserted Goans desire honest, people-centric politics, pledging his party will fulfill these aspirations. During a Goa visit, Kejriwal met local leaders to bolster the party's base, emphasizing grassroots connections and addressing concerns over ecological damage and land conversion. AAP aims to be the voice of Goa, fighting for citizens' rights and livelihoods.

Last year, FM Sitharaman announced major changes in the new income tax regime, and while tax experts believe that there is little fiscal room in Budget 2026 for any big tax income tweaks, there is also a hope that some changes may be brought about to further boost consumption.

As Finance Minister Nirmala Sitharaman prepares the Union Budget 2026-27, tax data reveals a significant shift. Direct tax collections have surged, surpassing indirect taxes as the government's primary revenue source. This trend highlights a growing reliance on income and profit-based taxation, impacting fiscal strategy and taxpayer compliance.

Sunetra Pawar has been sworn in as Maharashtra's first woman deputy chief minister, stepping into public office following the tragic death of her husband, NCP leader Ajit Pawar. She pledged to carry forward his legacy and continue working for the state's development.

India's Ministry of External Affairs has vehemently dismissed claims linking Prime Minister Narendra Modi to Jeffrey Epstein's leaked documents. The ministry labelled the references as rashy ruminations from a convicted criminal, urging their immediate rejection. These statements follow the US Department of Justice's release of extensive materials related to the late financier.

Budgets set the direction for government spending, taxation, and growth priorities, but actual execution takes time. Sectors like infrastructure, railways, defence, and capital goods tend to react positively to higher capex announcements, while banks and consumption stocks respond to tax relief or income-support measures.

Budget 2026 should prioritize reforms in withholding taxes, dispute resolution, and customs procedures to enhance ease of doing business. Simplifying TDS, addressing tax dispute pendency, and accelerating customs automation are crucial for reducing complexity, building trust, and boosting investments.

India's Union Budget 2026-27 will be presented on a Sunday for the first time in history, a significant procedural reform. Finance Minister Nirmala Sitharaman also achieves a record ninth consecutive budget presentation, marking a new milestone in the nation's financial reporting tradition.

India's Commerce Minister Piyush Goyal announced the conclusion of the India-EU free trade agreement, expecting it to double exports to Europe within five years. With 99% of Indian exports gaining duty-free access, the pact aims for mutual benefit, with consumers anticipated to be major beneficiaries. Negotiations for a separate trade deal with the US are also progressing well.

Jhumpa Lahiri, the acclaimed author, revealed she has no mother tongue, feeling perpetually outside of language. Born to Bengali parents and raised in the US, she embraces linguistic fluidity and creative trespass, finding freedom in writing in Italian. Lahiri advocates for learning other languages, warning against linguistic domination and nationalism, and finds home in experiences, not places.