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Gold prices surged on Friday, with April futures on the Multi Commodity Exchange (MCX) quoted at ₹1,53,955, reflecting a rise of ₹1,885 from Thursday. Globally, gold surpassed $4,900 an ounce, while silver briefly exceeded $75 before settling at $74.81. The Chicago Mercantile Exchange (CME) raised initial margins for both silver and gold, marking the sixth increase in just over a month, with silver margins now at 18% and gold at 9%. In the Chinese market, silver prices fell below $100 an ounce for the first time this year, trading at 19,999 yuan ($89.66 an ounce) on the Shanghai Futures Exchange, yet maintaining a premium over COMEX rates. Analysts emphasize the importance of monitoring the dollar and Federal Reserve signals amid heightened market volatility, as strong CME interventions continue to influence trading dynamics. 
Published: Feb 06 2026, 8 pmeznews.inIn a keynote address at the Hindu Businessline's "Decoding the Budget 2026-2027" event in New Delhi, Chief Economic Advisor V Anantha Nageswaran emphasized the themes of resilience and self-reliance in India's economic strategy. He highlighted the necessity of integrating global value chains into India, which requires a robust domestic manufacturing ecosystem, particularly involving small and medium enterprises. Nageswaran noted that while India's growth forecast for the upcoming financial year is between 6.8% and 7.2%, global uncertainties pose significant risks. He cited the recent suspension of Microsoft services for Nayara Energy as an example of how essential resources can be weaponized, underscoring the need for resilience. He also discussed the importance of reducing input costs through budget measures, which aim to enhance manufacturing competitiveness. Nageswaran likened the effort to create a domestic ecosystem to a marathon that must be run swiftly, acknowledging the challenges of maintaining competitiveness in a rapidly changing global landscape.
Published: Feb 06 2026, 9 pmeznews.inEconomic Affairs Secretary Anuradha Thakur emphasized the government's commitment to fostering a robust reform ecosystem during her address at the 'Decoding the Budget' event on Friday. She highlighted that over the past decade, approximately 350-370 reforms have been implemented to enhance the ease of doing business and improve living standards for citizens. Thakur outlined the budget's focus on diversifying infrastructure reforms across railways, waterways, and coastal shipping, which she believes will lower costs and stimulate economic growth. She also underscored the significance of the services sector, which contributes 55% to the gross value added and 30% of employment, noting its potential for rapid growth with minimal capital investment. Thakur called for widespread engagement with the Budget document, asserting the government's accountability in delivering on its ambitious economic goals to support the nation’s development.
Published: Feb 06 2026, 9 pmeznews.inIndia's Union Budget for 2026-27 emphasizes fiscal prudence, infrastructure development, and social sector investment, according to V Vualnam, Secretary of the Department of Expenditure. Speaking at the 'Decoding the Budget 2026-27' event in New Delhi, Vualnam highlighted the government's commitment to public capital expenditure, with significant investments in highways, railways, and urban infrastructure. He noted that private capital expenditure is recovering, particularly in manufacturing, complementing public spending. The budget also supports initiatives like the India Semiconductor Mission 2.0 and prioritizes defence production. A notable feature is the ₹1 lakh crore Research, Development and Innovation Fund, designed to foster innovation through market-driven financing. Vualnam described the budget as a balanced framework aimed at achieving the long-term vision of Viksit Bharat by 2047, addressing diverse societal needs while maintaining stable public finances.
Published: Feb 06 2026, 9 pmeznews.inIn 2025, India achieved a historic milestone in coffee exports, surpassing $2 billion for the first time, with total shipments reaching 3.83 lakh tonnes. January 2026 saw a significant 35% increase in export volumes, with permits issued by the Coffee Board rising to 33,904 tonnes, up from 25,090 tonnes a year earlier. The value of these shipments also surged, climbing 43% to $170.71 million compared to $118.96 million in January 2025. In rupee terms, the value increased by 50% to ₹1,551.62 crore. Notably, shipments of arabica and robusta varieties also saw substantial growth. However, exporters expressed caution regarding future orders, citing lower demand and high prices, with many opting for fewer forward contracts. Experts predict a potential slowdown in orders as buyers adopt a wait-and-see approach amid fluctuating market conditions.
Published: Feb 06 2026, 9 pmeznews.inAt the Green Karnataka Summit 2026, Maheshwar Rao M, Chief Commissioner of the Greater Bengaluru Authority, emphasized the need for sustainable practices in the construction sector to improve air quality and reduce emissions in Bengaluru. He highlighted that while green buildings are essential, the construction process must also adhere to eco-friendly standards, particularly in managing debris and emissions. Rao called for construction firms to take responsibility for tracking debris handling and compliance, advocating for a system that promotes the circular use of construction by-products. He proposed potential incentives through building bylaws and a city-level rating framework linked to climate action. Dr. Anup Naik, founder of the IGBC Bengaluru chapter, noted that Karnataka has over 1,500 registered green building projects, covering 1.1 billion square feet, and stressed the importance of continuous certification and audits to ensure ongoing sustainability. The summit underscored the urgent need to address climate impacts already affecting the city.
Published: Feb 06 2026, 9 pmeznews.inThe Ministry of Statistics and Programme Implementation (MoSPI) has unveiled the beta version of its Model Context Protocol (MCP) server for the eSankhyiki portal, aimed at enhancing access to official statistics. This initiative is part of the National Statistical Office's (NSO) commitment to making data more readily available to citizens, researchers, and businesses. The beta version currently features seven key data products: the Periodic Labour Force Survey, Consumer Price Index, Annual Survey of Industries, Index of Industrial Production, National Account Statistics, Wholesale Price Index, and Environmental Statistics. MoSPI stated that the MCP technology enables users to connect directly with datasets using their own AI tools and applications, with plans to expand the dataset offerings in the coming months. This launch marks a significant step towards improving transparency and accessibility in India's statistical landscape.
Published: Feb 06 2026, 7 pmeznews.inAt a recent panel discussion in New Delhi, experts debated India's manufacturing sector's potential to overcome its stagnant 17% GDP ratio, particularly in light of the 2026-2027 budget and new free trade agreements (FTAs) with the EU and US. Hosted by businessline and FICCI, the session featured insights from Jyoti Vij, Bharat Kaushal, Prerna Prabhakar, and Biswajit Dhar, moderated by Amiti Sen. While some panelists expressed cautious optimism about India's growing competitiveness through diversified markets and improved supply chains, Dhar raised concerns over a $500 billion import commitment from the US potentially undermining local manufacturing. Prabhakar highlighted the need for the MSME sector to achieve scale and suggested incentivizing performance to boost exports. The discussion underscored the importance of leveraging new FTAs effectively, contrasting them with previous agreements that had led to increased trade deficits.
Published: Feb 06 2026, 8 pmeznews.inThe Reserve Bank of India (RBI) has decided to maintain the policy repo rate at 5.25%, a move anticipated by analysts amid a positive growth outlook and low inflation. The RBI's monetary policy committee (MPC) unanimously agreed to keep the rate steady, with projections for GDP and consumer price index inflation for the first two quarters of FY27 being revised upwards. While all members supported the neutral stance, Ram Singh from the Delhi School of Economics advocated for a shift to an accommodative approach. Governor Sanjay Malhotra acknowledged increasing external challenges but highlighted the potential benefits of recent trade agreements, particularly with the US, for merchandise exports. He emphasized the importance of data dependency and indicated that the current economic conditions suggest a prolonged period of low interest rates. Meanwhile, the yield on the benchmark 10-year Government Security rose by 8 basis points, reflecting market reactions to the RBI's decisions.
Published: Feb 06 2026, 8 pmeznews.inIndia's rice procurement for the Central Pool stock has reached 42.95 million tonnes (mt) from October 2025 to January 2026, marking a 3.7% increase from the previous year. This surge in purchases, exceeding the annual requirements for the public distribution system, has raised concerns as the government has yet to establish a permanent offtake policy to manage the surplus. Experts warn that the ongoing ad hoc diversion of rice for ethanol production is impacting the sugarcane sector, leading to cane arrears for farmers. The all-India rice purchase target for 2025-26 is set at 46.35 mt, with procurement varying by state. While states like Tamil Nadu and Andhra Pradesh have reported significant increases, Punjab, traditionally a top contributor, has seen a decline in purchases. Current rice stocks are nine times above the buffer norm, prompting the government to allocate rice for ethanol at a reduced rate.
Published: Feb 06 2026, 8 pm
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