eznews.inThe Department of Expenditure (DoE) has initiated a comprehensive rationalisation effort aimed at reducing the number and financial burden of Central Sector Schemes (CSs) and Centrally Sponsored Schemes (CSSs). With many schemes nearing the end of their five-year approval cycle by March 31, 2026, the DoE has called for Ministries to submit restructuring proposals to consolidate similar initiatives and eliminate ineffective ones. Currently, there are 54 CSSs and 260 CSs covering diverse sectors, including health, education, and infrastructure. Officials emphasised the need for consolidation to enhance the effectiveness of public spending, which has already seen a significant increase to ₹11.21 lakh crore for FY 2025-26. The Finance Ministry aims to modernise scheme architecture and improve targeting to ensure efficient use of funds. Ministries are expected to submit proposals for potential mergers by March, with evaluations conducted by the Development Monitoring Evaluation Organisation and third-party agencies. 
Published: Jan 04 2026, 5 pmeznews.inKarnataka has emerged as the leader in tax revenue growth among Indian states, excluding union tax shares, during the April-November period of the 2025-26 fiscal year, according to data from the Comptroller and Auditor General (C&AG). Following Karnataka are Maharashtra and Uttar Pradesh. In capital expenditure, Gujarat tops the list, with Maharashtra and Karnataka trailing behind. Despite Uttar Pradesh's higher overall spending, it experienced a decline compared to the previous fiscal year. Karnataka's tax revenue growth is hindered by a slowdown in State Goods and Services Tax (SGST) collections post-GST rate rationalisation. Meanwhile, capital expenditure trends vary, with Gujarat, Karnataka, and Maharashtra showing growth, while Tamil Nadu and Uttar Pradesh saw declines. States' fiscal deficits remain manageable, with Maharashtra at 16% and Karnataka at 4% of budget estimates. The fiscal deficit limit for states is set at 3% of GSDP for 2025-26, with some states exceeding this threshold.
Published: Jan 04 2026, 5 pmeznews.inA significant western disturbance is set to influence winter weather across North-West India, as it moves along a sub-tropical westerly jet stream with winds reaching speeds of 278 km/h. This disturbance, located north of Kabul and south of Gilgit, is expected to bring moisture from various seas, resulting in rain in the plains and snow in the hills. The India Meteorological Department (IMD) has warned of dense fog in several regions, including Himachal Pradesh, Uttarakhand, and Punjab, lasting until next week. Cold wave conditions are anticipated in Punjab, Haryana, and Chandigarh, while ground frost may affect Uttarakhand's Rabi crops. Additionally, light to moderate precipitation is forecasted for Jammu-Kashmir, Himachal Pradesh, and Uttarakhand in the coming days. Meanwhile, a polar vortex is expected to bring frigid temperatures to Europe, potentially impacting weather patterns in North-West India.
Published: Jan 04 2026, 5 pmeznews.inIndia's civil aviation safety regulator, the Directorate General of Civil Aviation (DGCA), has implemented strict guidelines prohibiting the in-flight use and charging of power banks, as well as other devices like mobile phones, amid safety concerns following incidents of lithium battery fires on aircraft. Passengers are advised against plugging power banks into seat charging facilities and storing them in overhead bins, where they pose a risk of ignition and delayed fire response. The DGCA's 'Dangerous Goods Advisory Circular' emphasizes the need for enhanced safety measures, including improved detection and firefighting protocols, and mandates airlines to review their safety management processes. Airlines must also ensure that cabin crew receive comprehensive training on handling lithium battery incidents and communicate to passengers that power banks and spare batteries should only be carried in hand luggage. These measures aim to mitigate the risks associated with the increasing use of lithium batteries in air travel.
Published: Jan 04 2026, 5 pmeznews.inUttar Pradesh is implementing a dual strategy to achieve a $1 trillion economy by FY28, focusing on extensive technology use to enhance revenue and increasing capital expenditure. Finance Minister Suresh Khanna highlighted that the state's own tax revenue (OTR) has surpassed ₹2.12 lakh crore for 2024-25, contributing around 40% to revenue receipts, with efforts to minimize leakages and improve the business environment. However, post-Kumbh Mela, GST collections have plateaued, prompting the state to employ data analytics and strengthen enforcement to boost revenues. Uttar Pradesh's capital outlay has reached ₹1.14 lakh crore, facilitating infrastructure projects like expressways and the upcoming Jewar Airport. The state is also advocating for an increased share in central tax devolution, aiming for 20% in light of its fiscal discipline. With a current debt of ₹815,526 crore, Uttar Pradesh plans to manage it sustainably while targeting growth across key sectors to meet its ambitious economic goal.
Published: Jan 04 2026, 4 pmeznews.inIndia's transport fuel consumption remained robust in December 2025, following record highs in November, driven by industrial activity, farming, and seasonal travel. Diesel usage dipped slightly by 1% month-on-month to approximately 8.46 million tonnes, yet marked a 5% annual increase, with November's figures reaching a six-month peak of 8.55 million tonnes. Petrol consumption rose by 0.7% month-on-month and 6.7% year-on-year to 3.54 million tonnes, bolstered by rising demand for personal vehicles, particularly in rural areas. Aviation turbine fuel (ATF) saw a minor decline of 0.8% to around 782,000 tonnes in December, although annual figures remained stable. Analysts predict continued growth in transport fuel demand, supported by an expanding middle class and economic factors, with diesel averaging 7.80 million tonnes in 2025, reflecting a 2.6% year-on-year increase. Looking ahead, significant refinery capacity expansions are anticipated by 2030, alongside strong economic growth.
Published: Jan 04 2026, 4 pmeznews.inIn a landmark event for India's agricultural sector, Union Agriculture Minister Shivraj Singh Chouhan announced the release of 184 climate-resilient seed varieties from 25 crops, aimed at enhancing productivity and farmers' incomes. Speaking to scientists and government officials, Chouhan highlighted India's "unprecedented success" in developing high-yielding seeds, with 7,205 crop varieties notified since 1969, including 3,236 in the past 11-12 years. The new varieties, developed under ICAR's All India Coordinated Research Projects, feature traits such as drought and pest resistance, with a focus on cereals, pulses, and oilseeds. Chouhan also noted India's record rice production of 150.18 million tonnes, surpassing China, and emphasized the government's commitment to food security and agricultural resilience. Additionally, the National Seeds Corporation reported a significant profit increase, reflecting the growing strength of the public seed sector.
Published: Jan 04 2026, 4 pmeznews.inFood inflation in India is expected to remain negative in December 2025, despite month-on-month price increases across most food segments, according to projections from the Union Bank of India. Retail inflation is anticipated to rise to 1.66% from 0.71% in November, significantly lower than the 5.2% recorded in December 2024. Core inflation, which excludes food and fuel, is projected to increase to 4.68% as gold prices rebound. The report highlights a notable rise in tomato prices due to increased demand and supply disruptions from October rains. The Reserve Bank of India (RBI) has revised its CPI inflation forecast for 2025-26 down to 2.0%, reflecting a stable macroeconomic environment characterized by strong growth and low inflation. Following its December monetary policy meeting, the RBI cut the repo rate to 5.25%, with nearly 80% of the CPI basket showing inflation below 4%.
Published: Jan 04 2026, 3 pmeznews.inUnion Minister for Fisheries, Animal Husbandry and Dairying Rajiv Ranjan Singh is set to inaugurate India's first commercial-scale tropical Recirculating Aquaculture System (RAS)-based Rainbow Trout farm and research institute in Hyderabad on January 5. Established by Smart Green Aquaculture Ltd in Telangana, the facility showcases the potential for farming high-value cold-water species year-round in tropical climates through advanced water recirculation technologies. This project challenges the notion that premium aquaculture species are limited to specific climatic zones, emphasizing technology as the key factor for aquaculture viability. Additionally, the facility will serve as a training platform for youth in advanced aquaculture systems. The Indian government has significantly increased investments in the fisheries sector, with ₹38,572 crore allocated since 2015, aiming to transition aquaculture into a technology-driven, market-oriented ecosystem to meet rising domestic and export demands.
Published: Jan 04 2026, 2 pmeznews.inAir India's inaugural trial flight successfully landed at the newly constructed Bhogapuram International Airport near Visakhapatnam, Andhra Pradesh, on January 4, 2026, marking a significant milestone in the state's aviation sector. Civil Aviation Minister Kinjarapu Rammohan Naidu was aboard the flight from Delhi, celebrating the airport's readiness for full operations expected to commence in June 2026. Developed by GMR Group, the airport spans 2,200 acres and is designed to accommodate 4.5 million passengers annually. The project, executed under a Public Private Partnership model, aims to enhance regional connectivity in Uttarandhra. Andhra Pradesh Chief Minister N Chandrababu Naidu hailed the successful trial as a pivotal moment for the region, emphasizing its potential to boost local development and connectivity. The airport's planning began during the NDA government's tenure from 2014 to 2019.
Published: Jan 04 2026, 12 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact