eznews.inThe 2026 budget prioritizes high-value commodity value chains, focusing on productivity, branding, and competitive initiatives through Farmer Producer Organizations (FPOs). With an increased agriculture budget of ₹1,30,561.38 crore, up 6.07% from the previous year, the emphasis shifts from horticulture to specific high-value sectors, including fisheries and livestock. Key initiatives include the establishment of 500 "Amrit Sarovars," support for coconut, sandalwood, and cashew cultivation, and a push for high-density almond and walnut farming. Notably, the budget maintains existing Direct Benefit Transfer (DBT) and Minimum Support Price (MSP) levels, reflecting a strategic pivot towards investment-led growth rather than consumption support. Significant funding increases are allocated for technology adoption, including a substantial rise for the NAMO Drone Didi Scheme. Overall, the budget underscores a commitment to enhancing agricultural infrastructure and mechanization, aiming for sustainable growth in the sector. 
Published: Feb 07 2026, 10 ameznews.inIndia's new Baggage Rules 2026 have significantly eased the process for travelers bringing jewelry from abroad by eliminating the previous monetary value cap and introducing a straightforward weight-based allowance. Under the updated regulations, women can carry up to 40 grams and others up to 20 grams of jewelry duty-free, regardless of its price. This change addresses long-standing confusion at customs, particularly as gold prices have surged over the past decade. As Indian consumers increasingly engage in planned overseas jewelry shopping, the rules reflect a shift towards a more informed and confident buyer. The evolving market, valued at approximately $85–90 billion and projected to exceed $130 billion by 2030, highlights a growing preference for craftsmanship and design. By simplifying regulations, the new rules not only reduce anxiety around customs declarations but also reinforce jewelry's cultural significance as a personal asset in India.
Published: Feb 07 2026, 9 ameznews.inThe Union Budget 2026 has introduced Bharat Vistar, a groundbreaking AI-enabled advisory system aimed at transforming Indian agriculture by moving beyond fragmented digitisation to a more integrated decision-making framework. This initiative focuses on embedding intelligence into daily farming practices, particularly in the potato processing sector, where quality is determined upstream rather than downstream. Bharat Vistar aims to align farm-level decisions with processor-grade requirements, ensuring that farmers can make informed choices based on real-time data regarding soil, weather, and crop conditions. The initiative emphasizes the importance of execution frameworks, such as HyFarm's training programs, which facilitate the adoption of AI-driven insights among farmers. By leveraging precision technologies and applications like FarmOji, Bharat Vistar seeks to enhance transparency and predictability in potato production, positioning India as a global leader in value-added potato products. The Budget 2026 sets a clear direction for this ambitious agricultural transformation.
Published: Feb 07 2026, 9 ameznews.inIndia has agreed to reduce or eliminate tariffs on a range of US industrial goods and agricultural products, including fresh fruits, soybean oil, and wines, as part of a joint statement on a framework for an interim trade agreement issued on February 6. In return, the US will lower its tariffs to 18%, benefiting sectors like textiles, leather, and machinery. India plans to purchase $500 billion in US energy products and technology over the next five years, while also committing to protect sensitive agricultural items. Commerce Minister Piyush Goyal emphasized the agreement's focus on safeguarding farmers' interests. Both nations aim to negotiate a Bilateral Trade Agreement (BTA) to enhance market access and address non-tariff barriers. Prime Minister Narendra Modi highlighted the framework's potential to create jobs and support India's "Make in India" initiative, reflecting the growing partnership between the two countries.
Published: Feb 07 2026, 10 ameznews.inIndia has announced the elimination or reduction of tariffs on a range of US agricultural products, including dried distillers’ grains, red sorghum, tree nuts, and soybean oil, following assurances from Agriculture Minister Shivraj Singh Chouhan that the country’s staple grains and dairy products remain secure. This decision comes just two days after Chouhan's statement in Parliament on February 5, emphasizing the safety of India's major crops. However, it remains unclear if the US's reduced import tariff of 18% will apply to Indian shrimp and Basmati rice. While India has been importing soybean oil from the US, its share is minimal due to the country's high domestic consumption. The US, in return, will impose an 18% tariff on various Indian goods, including textiles and machinery, contingent on the successful conclusion of an Interim Agreement, although agricultural products are notably absent from this list.
Published: Feb 07 2026, 9 ameznews.inIndia's Commerce Minister Piyush Goyal has confirmed that the country has fully protected sensitive agricultural and dairy products, including maize, wheat, rice, soya, poultry, milk, cheese, ethanol, tobacco, certain vegetables, and meat, from duty concessions in its interim trade agreement with the US. This framework, announced on Saturday, will see US tariffs on Indian goods reduced from 50% to 18%. Goyal highlighted that this agreement underscores India's commitment to safeguarding the interests of farmers and sustaining rural livelihoods, as agriculture remains a vital sector for over 700 million people in India. The country has consistently maintained high tariffs on sensitive agricultural products in previous Free Trade Agreements (FTAs) with the EU, UK, and Australia. India's agricultural exports reached over USD 51 billion in FY25, with a target of USD 100 billion in combined exports of agriculture and food products in the next four years.
Published: Feb 07 2026, 7 ameznews.inThe United States announced on Saturday that it will lift the additional 25 percent tariffs on Indian goods starting February 7, following India's commitment to cease all direct and indirect imports of Russian oil. This decision, outlined in an executive order from the White House, also includes a framework for enhanced defense cooperation between the two nations over the next decade. The tariffs, initially imposed in August 2022 in response to India's Russian oil purchases, will no longer apply to Indian products entering the US after 12:01 AM Eastern Standard Time on February 7, 2026. However, the order stipulates that if the US Secretary of Commerce determines that India resumes importing Russian oil, further actions, including the potential reimposition of tariffs, may be considered.
Published: Feb 07 2026, 6 ameznews.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 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact