Author: News Desk
In her Budget 2026 speech, Finance Minister Nirmala Sitharaman outlined measures to increase farm productivity, diversify crops, and improve rural incomes, with a focus on small and marginal farmers. High-Value Crops and DiversificationThe government will promote crops like coconut, cashew, cocoa, sandalwood, and nuts including walnuts and almonds. Coconut-growing states such as Kerala and Tamil Nadu will get a dedicated Coconut Promotion Scheme benefiting 30 million people, including 10 million farmers. Cashew and cocoa programmes aim to make India self-reliant in raw materials and develop premium global brands by 2030. Sandalwood cultivation will receive scientific farming and post-harvest support. Fisheries…
The Union Budget 2026-27 offers long-term tax incentives to attract foreign cloud companies to India. Firms providing global cloud services from Indian data centres will get a tax holiday until 2047, provided they serve Indian customers through a local reseller. A 15% safe harbour on costs for related entities is also introduced to encourage investment in local infrastructure and capacity. All IT services will now follow a uniform 15.5% safe harbour margin. The eligibility threshold for IT services has been raised to ₹2,000 crore, and approvals will be automated to simplify compliance. These reforms aim to position India as a…
In her Union Budget 2026-27 speech, Finance Minister Nirmala Sitharaman announced a major expansion of India’s creative technology infrastructure. The government will support the establishment of animation, visual effects, gaming, and comics (AVGC) content creator labs in 15,000 secondary schools and 500 colleges, in partnership with the Indian Institute of Creative Technologies, Mumbai. The AVGC sector, part of India’s rapidly growing “Orange Economy,” is projected to require two million professionals by 2030. These labs aim to bridge the emerging skills gap and nurture talent for industries spanning animation, gaming, esports, and digital media. The initiative builds on themes from the…
Indian stock markets tumbled sharply during the special Sunday session, with the Sensex dropping over 1,000 points and the Nifty falling below 25,000. Investor wealth of nearly ₹6 lakh crore was wiped out in hours as the market reacted to the Union Budget. The sell-off followed Finance Minister Nirmala Sitharaman’s proposal to raise the Securities Transaction Tax (STT) on futures and options, triggering heavy selling across major indices. Traders feared the higher tax would increase trading costs and reduce participation from derivatives investors, who play a key role in daily market volumes. Analysts said the move could lower short-term liquidity…
Finance Minister Nirmala Sitharaman on Sunday proposed the creation of dedicated rare earth corridors in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu, as part of efforts to strengthen domestic production and manufacturing of these critical minerals. The announcement came during her presentation of the Union Budget 2026-27 in Parliament. “These corridors will support mining, processing, research, and manufacturing of rare earth permanent magnets,” Sitharaman said, building on a scheme launched in November 2025. Rare earths, a group of 17 elements essential for electronics, electric vehicles, and defense technologies, have long been dominated by China, which accounts for nearly 60% of…
Finance Minister Nirmala Sitharaman on Sunday announced a range of initiatives aimed at strengthening micro, small, and medium enterprises (MSMEs) as part of the Union Budget 2026-27. Speaking in Parliament, she highlighted measures to enhance finance access, scale up competitiveness, and support sectoral growth. One key reform is making the Trade Receivables Discounting System (TReDS) mandatory for all central public sector enterprises (CPSEs) when procuring from MSMEs. Sitharaman said the platform will serve as a “transaction hub for all purchases from MSMEs,” ensuring faster payments and better financial inclusion. The Finance Minister also proposed a ₹4,000-crore top-up to the Self…
Finance Minister Nirmala Sitharaman announced on Sunday that India will develop seven high-speed rail corridors connecting major cities, as part of the Union Budget 2026-27. Speaking in Parliament, she said these corridors will act as “growth connectors,” promoting environmentally sustainable passenger transport. The proposed corridors will link Mumbai-Pune, Hyderabad-Pune, Hyderabad-Bengaluru, Hyderabad-Chennai, Chennai-Bengaluru, Delhi-Varanasi, and Varanasi-Siliguri. Currently, work is underway on the Ahmedabad-Mumbai high-speed rail project, a 508-km corridor designed for bullet trains operating at 320 kmph. The project, passing through Gujarat, Maharashtra, and Dadra and Nagar Haveli, will reduce travel time to just 2 hours and 17 minutes. Sitharaman also…
Finance Minister Nirmala Sitharaman will present the Union Budget 2026 on Sunday, February 1, marking her ninth consecutive Budget in Parliament. While the country listens closely for economic priorities and policy signals, attention also turns to what Nirmala wears on Budget Day, a tradition that has come to symbolise India’s rich textile heritage. This year, Nirmala will present the Budget wearing a magenta Kattam Kanjeevaram silk saree from Tamil Nadu. The saree features golden checks and a coffee-brown border detailed with intricate threadwork. She has paired it with a plain yellow, full-sleeve blouse. Kanjeevaram sarees are among India’s most renowned handwoven silks,…
The United Arab Emirates is preparing to launch its first national passenger rail network in 2026, a major milestone in the country’s transport and infrastructure development. Operated by Etihad Rail Mobility, the project will connect key cities across all seven emirates, linking urban centres like Abu Dhabi, Dubai, Sharjah and Fujairah through an integrated rail system. Once operational, the service will enable travel between Abu Dhabi and Dubai in about 50 minutes, a significant reduction from the current road journey, and vastly improve connectivity for residents, tourists and commuters. Trains are designed for comfort and reliability, featuring Wi-Fi, ergonomic seating and modern amenities, while supporting economic growth and…
Sunetra Pawar has reportedly accepted the proposal to take charge as Maharashtra’s new Deputy Chief Minister, with her oath expected around 5 pm tomorrow. If confirmed, the 63-year-old Rajya Sabha MP would become the first woman to hold the post, filling the position left vacant after the accidental death of NCP president Ajit Pawar. While she has long been part of one of Maharashtra’s most influential political families, Sunetra Pawar has largely stayed away from frontline politics until recently. Her potential elevation places her at the center of both the NCP’s internal dynamics and the broader Pawar family realignment. Early…