eznews.inSaffron prices in Kashmir have surged nearly 100% this season, with 10 grams of GI-tagged saffron now selling for around ₹4,000. However, farmers are struggling to benefit from this price increase due to a dramatic decline in production, which has plummeted by approximately 75% over the past year, from nearly 15 tonnes to just one tonne. Abdul Majeed Wani, president of the All Jammu and Kashmir Saffron Growers’ Association, attributed this drop to changing climatic patterns, particularly prolonged dry spells that have hindered the growth of saffron corms. Official data reveals a long-term decline in saffron output in Jammu and Kashmir, with production falling from 8 tonnes in 2010-11 to 2.6 tonnes in 2023-24. Despite a slight recovery of 4% in the latest season, growers warn that without improved irrigation and climate-resilient practices, the saffron industry faces further challenges. 
Published: Jan 26 2026, 7 pmeznews.inIn India, the electric motorcycle market remains underdeveloped, with only a handful of brands, including Matter, Revolt Motors, Ola Electric, and Oben Electric, currently manufacturing these vehicles. Industry leaders are calling for government incentives, as existing schemes like FAME-II and PM E-DRIVE have primarily focused on electric scooters and three-wheelers. Anjali Rattan, Chairperson of RattanIndia, emphasized the need for subsidies specifically for electric motorcycles, which represent a significant portion of the two-wheeler market dominated by internal combustion engine vehicles. Mohal Lalbhai, Founder of Matter, echoed this sentiment, advocating for research and development support to enhance the technology of electric motorcycles. As India aims for its 2030 electrification targets, stakeholders urge the upcoming Budget to introduce targeted incentives for electric motorcycles to foster growth in this crucial segment and support the transition to a self-reliant EV ecosystem.
Published: Jan 26 2026, 7 pmeznews.inChilli production in India is projected to decline significantly this year, with estimates at approximately 5.39 lakh tonnes, down from 6.62 lakh tonnes last year. This reduction is attributed to a decrease in cultivation area, which has shrunk from 1.25 lakh acres five years ago to just 30,000 acres, alongside pest issues such as thrips attacks and wilt. Consequently, prices have surged in the Warangal and Khammam agricultural markets, peaking at ₹22,000 per quintal before stabilizing between ₹15,000 and ₹18,500, marking the highest levels in three years. Market analysts from Prof. Jayashankar Telangana Agricultural University have noted mixed sentiments due to quality concerns from excess moisture affecting early crop arrivals. Despite these challenges, some officials remain optimistic about demand, with expectations of a gradual recovery in prices, projected to range between ₹13,500 and ₹15,500 per quintal in January 2026.
Published: Jan 26 2026, 7 pmeznews.inThe upcoming Budget is set to prioritize the revitalization of the rural economy, with the Prime Minister’s Office urging the Finance Ministry to address the declining agricultural growth, which has dropped from 4.6% in 2024-25 to an estimated 3.1% in 2025-26. Proposed measures may include strengthening cooperative farming, enhancing post-harvest infrastructure, and supporting agro-processing units to boost rural incomes and employment. Despite record foodgrain production, the average gross value-added (GVA) in agriculture has stagnated at 3-4% due to pandemic impacts and climate challenges. The agricultural sector's GVA share has also decreased from 20.4% in 2020-21 to 17.7% in 2023-24. Allied sectors, particularly livestock, have emerged as key growth drivers, contributing significantly to farmers' incomes. The government aims to bolster agricultural exports and enhance market access, particularly in light of anticipated El Nino conditions affecting production.
Published: Jan 26 2026, 6 pmeznews.inEconomic Affairs Secretary Anuradha Thakur is spearheading the Budget process for 2026-27, supported by key finance officials including Revenue Secretary Arvind Shrivastava and Chief Economic Adviser V Anantha Nageswaran. As Finance Minister Nirmala Sitharaman prepares to unveil her ninth consecutive Budget on February 1, the backdrop features a robust 7.4% growth rate amid geopolitical uncertainties. Thakur, a 1994 IAS officer and the first woman to lead the Economic Affairs Department, is pivotal in resource allocation and macroeconomic planning. Shrivastava, in his inaugural role as Revenue Secretary, will focus on tax proposals, while Expenditure Secretary Vumlunmang Vualnam oversees government spending and fiscal discipline. Other key figures include M Nagaraju, who manages financial inclusion initiatives, Arunish Chawla, responsible for disinvestment strategies, and K Moses Chalai, who ensures effective capital expenditure in public enterprises. Nageswaran's office provides essential macroeconomic insights and advice on fiscal policy.
Published: Jan 26 2026, 3 pmeznews.inTax collections by the central government have underperformed in the financial year 2025-26 (FY26), with growth at just 3.3% year-on-year, significantly below the budgeted 12.5%, according to a report by CareEdge Ratings. Direct tax collections, particularly corporate and income taxes, have lagged, with corporate tax growing by 7.8% against a target of 9.7%, and income tax rising by 6.8% compared to a budgeted 21.6%. Additionally, Goods and Services Tax (GST) collections fell by 2.0% due to recent structural changes. However, the report anticipates a rebound in FY27, projecting gross tax revenue to increase by 9.6% to Rs 43.5 trillion, with direct taxes expected to grow by 11.0%. Tax buoyancy is also forecasted to improve, indicating a better alignment with nominal GDP growth. Overall, FY26's weak tax performance raises concerns about potential shortfalls against budget estimates.
Published: Jan 26 2026, 3 pmeznews.inMadhya Pradesh Governor Mangu Bhai Patel announced that 2026 will be designated as the 'year of agriculture' during the state's 77th Republic Day celebrations at Lal Parade Ground in Bhopal. He highlighted a significant budget increase for agriculture, rising from ₹600 crore in 2002-03 to ₹27,000 crore in 2024-25, aimed at enhancing farmer welfare through a multifaceted development model. Patel also noted the implementation of the e-Mandi scheme, benefiting 40 lakh farmers, and efforts to position Madhya Pradesh as India's milk capital, with increased support for animal husbandry. Additionally, he reported on housing initiatives under the Pradhan Mantri Awas Yojana, educational advancements, and wildlife conservation efforts, including the establishment of new tiger reserves. The governor emphasized the government's commitment to industrial growth through regulatory reforms, while Republic Day festivities were observed across the state, led by Chief Minister Mohan Yadav and Deputy Chief Minister Jagdish Devda.
Published: Jan 26 2026, 2 pmeznews.inIndia and the European Union (EU) are poised to announce the conclusion of a long-awaited free trade agreement (FTA) on January 27, following 18 years of negotiations. The pact is expected to include significant import duty cuts on labour-intensive sectors such as textiles, footwear, and automobiles, alongside liberalisation in various services sectors. India has advocated for zero-duty access for its textiles, leather, and handicrafts, while the EU has sought reductions on automobiles and wines. Sensitive agricultural issues, including beef and sugar, have been excluded from the deal to protect domestic interests. The FTA aims to eliminate or reduce tariffs on over 90% of traded goods, enhancing trade relations, which saw bilateral goods trade reach $136.53 billion in 2024-25. The agreement also encompasses investment protection and Geographical Indications, marking a significant step in India's trade strategy with the EU, its largest trading partner.
Published: Jan 26 2026, 2 pmeznews.inThe proposed Free Trade Agreement (FTA) between India and the European Union (EU) could significantly enhance employment and industrial growth, according to Gautam Singhania, Managing Director of the Raymond Group. He emphasized that zero duty on textiles would not only benefit the textile sector, one of India's largest employers, but also bolster the broader economy. Singhania noted that a favorable deal with the EU could strengthen India's position in future trade negotiations with the United States. EU President Ursula von der Leyen, currently in New Delhi for Republic Day celebrations, highlighted the importance of a successful India for global stability and prosperity. The conclusion of FTA negotiations is anticipated at the upcoming India-EU summit on January 27, where leaders are expected to adopt a comprehensive strategic agenda to deepen cooperation. Singhania also praised recent investment agreements from the World Economic Forum, expressing optimism for India's economic future.
Published: Jan 26 2026, 2 pmeznews.inOil prices have seen a modest increase this year, with Brent futures trading around $66 a barrel. OPEC+ delegates, including key players Saudi Arabia and Russia, are expected to maintain their current production levels during a video conference scheduled for Sunday, following a decision made in November to freeze output amid a global surplus and geopolitical tensions. While unrest in Iran and supply constraints in Kazakhstan and Russia have contributed to the price rise, there has been no significant impact on Iran's oil sector despite ongoing protests. Additionally, Venezuelan crude is making its way to Europe for the first time in nearly a year, as efforts to stabilize the country's economy continue. Although discussions among OPEC+ members are still pending, any major supply disruptions could lead to a reassessment of output levels.
Published: Jan 26 2026, 2 pm
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