eznews.inUnion Finance Minister Nirmala Sitharaman is set to present the Union Budget for Fiscal Year 2026-27 on Sunday, February 1, following the Cabinet Committee on Parliamentary Affairs' decision. The budget session will commence on January 28 with an address from President Droupadi Murmu, followed by the Economic Survey on January 29. This marks a departure from tradition, as it is the first time in recent years that the Budget will be unveiled on a Sunday, although the government has maintained the practice of presenting it on February 1 since 2017-18. Notably, this will be Sitharaman's ninth consecutive budget presentation, surpassing the previous record held by C D Deshmukh. If she continues to present the FY28 Budget, she will match the record of Morarji Desai, who delivered ten Budgets in total. The stock exchanges are preparing for a potential special trading session in light of the Sunday presentation. 
Published: Jan 07 2026, 7 pmeznews.inIndia is negotiating last-minute concessions with the European Union (EU) as both parties aim to advance Free Trade Agreement (FTA) discussions this month. Key demands from New Delhi include flexibility in meeting the Carbon Border Adjustment Mechanism (CBAM) obligations through alternative offset mechanisms, as well as increased quotas for concessional steel exports. Commerce Minister Piyush Goyal will join negotiators in Brussels to provide political momentum, coinciding with the upcoming visit of EU leaders to India for Republic Day celebrations. The CBAM, effective from January 1, 2026, requires importers of carbon-intensive goods to purchase certificates for embedded emissions, potentially forcing Indian exporters to reduce prices by 15-22% to remain competitive. Additionally, the EU seeks greater market access for automobiles and dairy products. With bilateral trade between India and the EU reaching $136.53 billion in 2024-25, both sides are eager to finalize the FTA amid global trade uncertainties.
Published: Jan 07 2026, 8 pmeznews.inIndia's natural rubber sector has made notable strides in the 2024-25 fiscal year, with the area under cultivation expanding to 9.39 lakh hectares and productivity improving slightly to an average yield of 1,500 kg per hectare. Production rose by 2.1% to 8.75 lakh tonnes, with RSS rubber accounting for 63% of this output. However, domestic consumption dipped to 14.10 lakh tonnes, primarily due to reduced demand from the auto-tyre sector, while imports surged by 11.8% to 5.51 lakh tonnes, with Côte d’Ivoire and Indonesia being key suppliers. Exports of natural rubber also increased, reaching 4,839 tonnes, with Sri Lanka as the main destination. Despite these gains, the sector faces challenges, including price volatility driven by fluctuating demand and climatic risks. Experts predict a tight global market in 2026, with stable to moderately firm prices, contingent on automotive demand and supply developments.
Published: Jan 07 2026, 6 pmeznews.inRecent reductions in war risk premiums in the Red Sea may prompt a shift back to Suez Canal routes for shipping, despite ongoing concerns for crew and cargo safety. According to BIMCO, ship sailings through the Suez Canal have plummeted by 60% compared to early 2023, although the situation in the Red Sea appears to be stabilizing. The last attack on a cargo vessel in the Gulf of Aden occurred in September 2025, and following a ceasefire announcement by Yemen's Houthi rebels, shipping companies are cautiously resuming Red Sea routes. Notably, a Maersk-owned vessel recently navigated this route for the first time in two years. While a return to the Suez Canal could significantly lower shipping costs, it may also lead to a 10% drop in container ship demand, according to BIMCO's chief analyst, Niels Rasmussen. The timeline for full normalization remains uncertain.
Published: Jan 07 2026, 6 pmeznews.inDeendayal Port, formerly known as Kandla Port, led India's major ports with a cargo volume of 116 million tonnes (mt) and a 7% growth in the first nine months of the financial year, contributing to an overall 8% increase in traffic across the country's 12 major ports. Total cargo handled reached 672 mt from April 1 to December 31, 2025, up from 621 mt the previous year, driven by a surge in container and Petroleum, Oil and Lubricants (POL) handling, despite a decline in Russian oil imports. Notably, all major ports reported positive growth, contrasting with declines seen at Kolkata, New Mangalore, and Mormugao ports last year. The rise in container volumes reflects India's growing manufacturing and e-commerce sectors, supported by government initiatives. Experts predict that while Russian oil imports may decrease, increased sourcing from other regions will sustain POL volumes, which currently dominate cargo shares at Indian ports.
Published: Jan 07 2026, 6 pmeznews.inIn a significant shift reflecting India's complex historical narrative, Triveni Engineering & Industries Ltd is set to rename the Sir Shadi Lal sugar mill in Shamli, Uttar Pradesh, to simply the Shamli sugar mill. This decision, driven by the company's new majority ownership, aims to address the moral discomfort associated with the mill's namesake, Sir Shadi Lal, who presided over the trial that led to the execution of revolutionary martyr Bhagat Singh in 1931. Local residents and labor unions have long felt uneasy about the mill's name, which evokes painful memories of colonial injustice. Triveni's move to adopt a geographic identifier aligns with its practice of naming mills based on location, thereby avoiding historical baggage. The renaming follows Triveni's recent acquisition of a controlling stake in the mill's holding company, with the change expected to be finalized by the end of the current financial year.
Published: Jan 07 2026, 5 pmeznews.inFrost conditions in the Nilgiris are significantly impacting tea arrivals at Coonoor auctions, leading to a 20% reduction in offered quantities, according to traders. This decline raises concerns about potential effects on tea production, compounded by internal issues in Iran, a key buyer of South Indian orthodox leaves, which may disrupt shipping schedules. Global Tea Auctioneers reported that 1,497,770 kg of leaf tea was offered, achieving an 86% sales rate, while 379,143 kg of dust grades also saw an 86% sales rate. In terms of pricing, high-priced teas and better liquoring varieties remained steady to slightly lower, with some medium sorts experiencing minor declines. Conversely, CTC dust grades saw fair demand, with high-priced teas selling for Rs4 to 5 more, although some lots dropped by Rs2 to 3. Orthodox dust grades faced a tougher market, selling lower by Rs8 to 10, reflecting quality variations.
Published: Jan 07 2026, 5 pmeznews.inIndia's economy is projected to grow by 7.4% in the fiscal year 2025-26, according to the Statistics Ministry. This marks an increase from the 6.5% growth rate recorded in FY24-25. The nominal GDP is expected to rise by 8%, driven largely by a robust services sector, which is anticipated to achieve a Real Gross Value Added (GVA) growth rate of 7.3%. Notably, financial, real estate, and public services are set to experience significant growth, estimated at 9.9% at constant prices. Other sectors, including trade, hotels, and transport, are projected to grow by 7.5%, while manufacturing and construction are expected to see a 7% increase. In contrast, agriculture and utility services are forecasted to grow at more modest rates of 3.1% and 2.1%, respectively. Real private final consumption expenditure is also expected to rise by 7% during this period.
Published: Jan 07 2026, 4 pmeznews.inIndiGo, which holds a commanding 65% share of India's aviation market, faced significant operational challenges last month due to pilot shortages, resulting in the cancellation of approximately 4,500 flights and leaving thousands of passengers stranded. In response to these unprecedented disruptions, the Indian government has requested fare data from IndiGo, Air India, SpiceJet, and Akasa to investigate potential fare surges during the crisis. The Competition Commission of India (CCI) is examining whether IndiGo abused its dominant market position by cancelling flights and subsequently raising ticket prices. The Directorate General of Civil Aviation has also sought information on average fares for economy and premium economy seats across various routes during the first half of December. While IndiGo has not publicly commented on the ongoing investigation, the CCI's scrutiny appears focused solely on the airline for now, with no indications of extending the inquiry to others.
Published: Jan 07 2026, 3 pmeznews.inMinimum temperatures in Ambikapur, Chhattisgarh, fell to 3.3°C, marking a significant drop as the India Meteorological Department (IMD) reported widespread cold wave conditions across north-west, central, and north-east India. Over the past 24 hours, severe cold days were noted in isolated areas of Rajasthan, while cold day conditions affected Uttar Pradesh, Gangetic West Bengal, Bihar, and Jharkhand. Ground frost was recorded in Uttarakhand, and snowfall occurred in parts of Jammu-Kashmir-Ladakh, Himachal Pradesh, and Sikkim. The IMD indicated that minimum temperatures were below 0°C in several regions, with appreciable departures from normal in areas like Vidarbha and Telangana. Additionally, dense fog reduced visibility in parts of Uttar Pradesh, Rajasthan, and Punjab. Meanwhile, a depression in the south-east Bay of Bengal is expected to bring heavy rainfall and thunderstorms to Tamil Nadu and Kerala from January 8-11.
Published: Jan 07 2026, 2 pm
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