eznews.inIn a significant milestone for India's ambitious bullet train initiative, Railway Minister Ashwini Vaishnaw witnessed the completion of a 1.5-km mountain tunnel in Maharashtra's Palghar district. This breakthrough, conducted virtually from Rail Bhawan in New Delhi, marks the second tunnel completion for the 508-km Mumbai-Ahmedabad High Speed Rail project, which is designed to facilitate bullet trains traveling at speeds of up to 320 km/h, reducing travel time between the two cities to just 2 hours and 17 minutes. The first tunnel, a 5-km underground section between Thane and BKC, was completed in September 2025. The project, which traverses Gujarat, Maharashtra, and Dadra and Nagar Haveli, is being developed with technical and financial support from the Japanese government, underscoring international collaboration in India's infrastructure development efforts. 
Published: Jan 02 2026, 12 pmeznews.inIndia's aviation sector is facing heightened scrutiny following a tragic June 12 crash of a Boeing Dreamliner that claimed 260 lives. The Directorate General of Civil Aviation (DGCA) has identified multiple safety lapses at Air India, which was government-owned until 2022. In a separate incident, Canada's transport regulator has urged Air India to investigate a pilot who reported for duty under the influence of alcohol, failing two breathalyzer tests at Vancouver International Airport. This incident, described as a "serious matter," led to a last-minute flight delay on December 23, with an alternate pilot stepping in. Air India confirmed the pilot has been suspended pending an inquiry, emphasizing its zero-tolerance policy towards rule violations. Additionally, the DGCA has issued warning notices to four Air India pilots over serious safety concerns related to regulatory compliance and decision-making, particularly regarding a Boeing 787 aircraft with known issues.
Published: Jan 02 2026, 12 pmeznews.inThree months after the rollout of Goods and Services Tax (GST 2.0) reforms, both the automobile and fast-moving consumer goods (FMCG) sectors are experiencing a surge in demand, with expectations for further growth in the coming months. FMCG companies reported an uptick in sales following GST rate cuts, with projections indicating a 12-13% year-on-year growth in the packaged food segment for the March quarter, up from 8-9% in December. Industry leaders, including Mayank Shah of Parle Products and Manish Tiwary of Nestle India, noted that the timing of the GST cuts has positively influenced sales volumes. In the automobile sector, Tata Motors achieved record sales, with over 171,000 units dispatched in Q3 FY26, driven by pent-up demand following the GST announcement. Experts anticipate continued growth in both sectors, supported by government infrastructure initiatives and improved consumer engagement strategies.
Published: Jan 02 2026, 12 pmeznews.inThe Federation of All India Farmer Associations (FAIFA) has voiced strong opposition to a significant tax hike on tobacco products, as outlined in the Finance Ministry's new excise duty regulations set to take effect on February 1, 2026. The new rules impose duties ranging from ₹2,050 to ₹8,500 per 1,000 sticks, depending on cigarette length, which FAIFA argues will lead to decreased sales and adversely affect farmers' livelihoods. The organization highlighted that the tax regime disproportionately impacts farmers of Flue-Cured Virginia (FCV) tobacco from Andhra Pradesh and Karnataka, who already face exorbitant tax rates compared to those for bidis and chewing tobacco. FAIFA President Murali Babu expressed dismay over the government's failure to uphold promises of revenue neutrality made during the introduction of GST 2.0, warning that the tax increase could destabilize the entire tobacco economy and harm millions involved in the sector.
Published: Jan 02 2026, 12 pmeznews.inClouds gathered over the south-west Bay of Bengal on Friday, bringing moderate to heavy rainfall to parts of Tamil Nadu and the Sri Lankan coast. A cyclonic circulation off Sri Lanka, combined with a trough of lower pressure extending from Lakshadweep to Comorin, has resulted in widespread precipitation, particularly in Tenkasi district, where Sivasailam recorded 20 cm of rain in just four hours. The eastern slopes of the Nilgiris also experienced significant rainfall, with nine cm reported by Friday morning. This weather pattern is reminiscent of heavy downpours seen in the early 1990s, raising concerns about climate change impacts. The Regional Meteorological Centre in Chennai forecasts continued light to moderate rain across Tamil Nadu, Puducherry, and Karaikal over the next few days. Meanwhile, a western disturbance is expected to bring scattered rainfall and snowfall to northern India, with fog reported in several regions.
Published: Jan 02 2026, 11 ameznews.inIndia's manufacturing sector experienced its slowest expansion in two years in December, as demand weakened and production was curtailed, according to a business survey. The HSBC India Manufacturing Purchasing Managers' Index (PMI) dropped to 55.0 from 56.6 in November, marking the lowest level since December 2023. While the index remains above the 50 threshold indicating growth, the decline highlights a significant loss of momentum, primarily driven by weaker domestic demand. New orders rose at their slowest pace in two years, and hiring nearly stagnated, with the employment index at its lowest since early 2024. Factory production growth also slowed to a 38-month low, and export growth fell to a 14-month low, impacted by US tariffs. Despite a slight rise in input costs, inflation remains subdued, allowing the Reserve Bank of India to consider further rate cuts to stimulate consumption. Business sentiment has dimmed, with confidence in future output at its lowest in nearly three-and-a-half years.
Published: Jan 02 2026, 10 ameznews.inIndia's Goods and Services Tax (GST) collections for December 2025 demonstrated resilience, rising 6.1% year-on-year to ₹1.75 lakh crore, despite significant rate cuts earlier in the year. Experts, including Pratik Jain from Price Waterhouse & Co LLP, noted that this growth, largely driven by imports, is encouraging and suggests a potential year-on-year growth of around 9% if the trend continues. Manoj Mishra from Grant Thornton Bharat highlighted the structural strength of the economy, with a notable 19.7% increase in import-related GST, indicating robust supply chains. As the Union Budget 2026-27 approaches, calls for further GST reforms, including compliance automation and litigation reduction, are gaining traction. Karthik Mani from BDO India pointed out a month-on-month decline of 4.3% in net collections, while Mahesh Jaising from Deloitte India emphasized the positive impact of festive consumption and GST council policies on compliance and cash flow.
Published: Jan 02 2026, 9 ameznews.inCustoms officers at international airports in India will now be required to wear Body Worn Cameras (BWC) during interactions with passengers, as mandated by the Central Board of Indirect Taxes & Customs (CBIC). This initiative aims to enhance transparency and accountability in customs operations, aligning with global best practices. Officers must inform passengers that their interactions are being recorded, with footage securely stored for 90 days, or longer if needed for investigations or judicial purposes. The BWC will be positioned on the officer's uniform to ensure clear recording, and each device will operate independently without WiFi or Bluetooth connectivity. Recordings will be transferred to a secure storage system at the end of each shift, with strict protocols against tampering or unauthorized access. This move is part of a broader effort to improve the Ease of Doing Business and public confidence in customs administration.
Published: Jan 02 2026, 9 ameznews.inThe Defence Research and Development Organisation (DRDO) has achieved a significant milestone, with the Defence Acquisition Council approving 22 Acceptance of Necessity (AoN) for various DRDO-developed systems, valued at approximately Rs 1.30 lakh crore, to be manufactured by Indian industries by 2025. This marks the highest AoN value cleared in a single year, underscoring India's commitment to self-reliance under the Aatmanirbhar Bharat initiative, according to DRDO Chairman Samir V Kamat. Key systems include advanced missile systems, integrated air defence, and drone detection technologies. Kamat emphasized the importance of collaboration among stakeholders to address future challenges and highlighted the successful induction of numerous products into the Central Armed Police Forces and other services. He also noted that 11 contracts worth Rs 26,000 crore have been signed for various defence systems, reflecting DRDO's pivotal role in bolstering India's defence manufacturing capabilities.
Published: Jan 02 2026, 8 ameznews.inIndia's fiscal deficit for the first eight months of FY26 has reached ₹9.77 lakh crore, accounting for 62% of the Budget Estimate, a significant increase from ₹8.47 lakh crore, or 54% of the Revised Estimate, during the same period last year. This 15.4% year-on-year rise is attributed to a sharp 28% increase in capital expenditure, reflecting the government's investment-led fiscal strategy aimed at fostering medium-term growth. However, concerns persist over lagging tax revenues and subdued overall receipts, despite some support from higher-than-expected dividend transfers from the Reserve Bank of India. The report from Union Bank of India highlights the growing importance of state revenues and borrowing in shaping consolidated government finances, especially with the phasing out of the Goods and Services Tax compensation cess. While the central government's fiscal stance aligns with medium-term consolidation goals, sustained revenue growth and effective expenditure management will be crucial for future stability.
Published: Jan 02 2026, 8 am
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