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Subscribe to enjoy similar stories. On 29 January, the 2026 Economic Survey flagged the need for India to take a cautious approach in developing artificial intelligence. On Sunday, the outlay proposed for the India AI Mission in the Union Budget was halved.

Subscribe to enjoy similar stories. The date of 1 February for the announcement of the Union budget precedes by a month the release of the advance estimate of India’s gross domestic product (GDP) based on three quarters, which this year will mark the start of a new GDP series with 2022-23 as its base year, replacing the old series based on 2011-12. The new series will change the sectoral weights, and with that, the estimates of aggregate real growth for the first two quarters.

Subscribe to enjoy similar stories. The Union Budget 2026-27 put the spotlight on the tourism and hospitality sector. The finance minister proposed measures to strengthen the tourism ecosystem, with focus on medical tourism, skilling and institutional capacity-building.

Subscribe to enjoy similar stories. As finance minister Nirmala Sitharaman sets out to present her record ninth consecutive Union budget, the Indian economy is experiencing a rare goldilocks period of high economic growth and low inflation. At the same time, uncertainty abounds as the world is disrupted by geopolitical crises and tariff wars which have upended global trade like never before.

Subscribe to enjoy similar stories. NEW DELHI : India needs long-term, step-by-step ecosystem-building, alongside sustained investment in research and development (R&D), to achieve semiconductor capabilities, essential for a major global economy given silicon chips’ role in the information age, according to economist and NITI Aayog member Arvind Virmani.

Subscribe to enjoy similar stories. The government may roll out incentive packages worth up to ₹23,000 crore in the Union Budget 2026 to boost domestic manufacturing of high-value capital goods and reduce dependence on imports, according to an Economic Times report. The schemes are currently under preparation and could be announced in the upcoming budget.

Subscribe to enjoy similar stories. NEW DELHI : The Centre may maintain the road ministry’s allocation at nearly the same level as ₹2.72 trillion in 2025-26 in the Union Budget 2026-27, aiming to shift focus towards attracting private investment, even amid slowing highway construction, according to two officials close to the discussions.

₹638 crore penalty order from the office of the additional commissioner, Central Goods and Services Tax, Ahmedabad. The company said it does not agree with the order and will pursue legal remedies.The disclosure came close on the heels of developments around its long-running adjusted gross revenue (AGR) dues, which have kept the stock volatile.The Centre has reportedly approved a relief package that freezes Vodafone Idea’s pre-FY18 AGR dues, estimated at ₹87,700 crore, and grants a five-year, interest-free moratorium, pushing payments out to FY32-41.

From India and New Zealand wrapping up trade talks in record time to the Centre planning a higher outlay on rail safety, a drop in overseas education remittances, shifts in the rural job guarantee burden, and a record US court payout in the Johnson & Johnson talc case—here's a compilation of this week's news in numbers.The Centre is likely to announce an outlay of over ₹1.3 trillion in FY27 on rail safety in the Union budget, about 12% higher than the current fiscal’s amount of ₹1.2 trillion, Mint reported. Funds would be used for rolling stock maintenance, track renewals, and expanding Kavach—India’s automatic train protection system.This marks a shift in the government’s focus towards railway safety: the outlay was up only 2% in FY26.

When the new tax regime was first introduced in the Union Budget 2020-21, it did not attract many takers that fiscal year.This new optional tax regime offered taxpayers lower tax rates in exchange for foregoing most tax deductions and exemptions under the then-prevailing old tax regime. Its newness and the fact that the old regime still remained more attractive for most people made the shift infeasible.However, the government brought in changes to make the new regime more attractive, encouraging more people to adopt it.

₹5,000 crore into three loss-making and financially weak public sector general insurers—United India Insurance Co. (UIIC), National Insurance Co.

The bill was tabled by Shivraj Singh Chouhan, minister for rural development and agriculture & farmers’ welfare.Mint reported on 15 December that the proposed legislation seeks to provide a statutory guarantee of 125 days of wage employment, up from the current 100 days, in every financial year to each rural household whose adult members are willing to undertake unskilled manual work.The scheme will operate as a centrally-sponsored scheme, with the Union government bearing 90% of the financial burden for north-eastern and Himalayan states and Union territories, and 60% for other states. Respective states will need to stump up the rest.The expenditure under the scheme will depend on the number of persons reporting for work, the applicable wage rate, and the material and administrative components of the work.

In the July 2024 Union budget, a new category was added to an already humongous list of payments that attract tax deduction at source, or TDS: the payment of salary, remuneration, bonus, commission, and interest by a partnership firm to its partners.

Subscribe to enjoy similar stories. New Delhi: As US President Donald Trump unleashed his global tariff war from the White House, India found itself grappling with a new regime that stopped short of full reciprocity but still posed significant trade barriers. With Trump deciding to charge half of the tariffs a country imposes on American imports, Indian exports to the US face a 26% tariff.

Subscribe to enjoy similar stories. The tax relief provided in the Union budget takes effect from 1 April. Taxpayers can now expect more money left in their hands.

Chirag Paswan's Lok Janshakti Party (Ram Vilas) on Monday blamed his estranged uncle and political rival Pashupati Kumar Paras for alleged mistreatment meted out to his late father's first wife. According to LJP(RV) state president Raju Tiwari, the wives of Paras and his deceased younger brother Ram Chandra Paswan recently tried to evict Rajkumari Devi from their ancestral house in Khagaria district of Bihar. The Union minister's late father Ram Vilas Paswan had tied the knot with Rajkumari Devi more than 20 years before marrying his mother Reena, who was based in Delhi. According to Tiwari, «As soon as our national president learnt of the episode, he asked his nephew Prince Paswan to visit their ancestral village Sahar Banni and take stock of the situation.» «We have been told that the room allotted to Rajkumari Devi has been locked and she is being asked to leave. Paras, who claims to worship late Paswan, is behind the humiliation of bhabhi (sister-in-law), who is old and does not enjoy good health. But, we stand in her support,» said Tiwari. No complaint has, so far, been lodged with the police in this regard and Paras, who heads the Rashtriya Lok Janshakti Party, could not be reached for comments.

foreign investment, the recent launch of the Investment Friendliness Index in the Union Budget 2025 marks a pivotal shift in the country’s economic framework. This initiative aims to enhance both competitive and cooperative federalism, making states more attractive to domestic and international investors. The Investment Friendliness Index is more than just a ratings system—it evaluates and ranks Indian states based on their investment potential. By fostering healthy competition, it encourages states to reassess and refine their regulatory frameworks, spurring an influx of private investment. For financial institutions like HDFC Securities, the index serves as a valuable guide for navigating the investment landscape and identifying promising regions.

Ayushman Bharat and will get health coverage of Rs 5 lakh. Preparations to provide the benefits of Ayushman Bharat to gig and platform workers are almost complete, Sumita Dawra, Secretary, Labour and Employment Ministry, told in an exclusive interview. India's gig and platform economy is expanding, offering new jobs in sectors like ridesharing, delivery, logistics, and professional services. NITI Aayog has projected that the gig economy in India will employ over one crore workers in 2024-25, subsequently reaching 2.35 crore by 2029-30. Recognizing the contribution of the gig and platform workers to the nation's economy, Union Budget 2025-26 announcements had provision for registration of online platform workers on e-Shram portal, issue of identity cards, and and healthcare coverage under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY). Dawra said schemes for gig and platform workers will be started soon.

Amit Shah on Tuesday hailed the decision of two Hurriyat-affiliated organizations to break away from separatism in Jammu and Kashmir, calling it a «significant victory» for Prime Minister Narendra Modi's vision of a peaceful and united India. Shah's reaction came soon after the significant development came to the fore with the two organizations affiliated with the Hurriyat Conference made the announcement about their decision to sever ties with separatism in Jammu and Kashmir. «Separatism has become history in Kashmir. The unifying policies of the Modi government have tossed separatism out of J&K. Two organizations associated with the Hurriyat have announced the severing of all ties with separatism,» Shah expressed his views through his 'X' handle. «I welcome this step towards strengthening Bharat's unity and urge all such groups to come forward and shed separatism once and for all. It is a big victory for PM Shri @narendramodi Ji's vision of building a developed, peaceful and unified Bharat.» The decision by the two Hurriyat-linked groups is seen as a reflection of the changing political landscape in the Union Territory. Over the past few years, the government has implemented a series of measures aimed at curbing separatist activities, including strict enforcement of anti-terror laws and socio-economic reforms.

Ajay Seth, a senior bureaucrat, on Monday was designated as the new Finance Secretary, according to an official order.