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Apple farmers in Kashmir Valley have started releasing their produce from controlled atmosphere (CA) storage facilities, following a challenging season marked by unprecedented rainfall and repeated highway closures that forced many to stockpile their fruit. Last year, a significant portion of Kashmir's apple harvest was diverted to CA storage due to incessant rains in August and September, which frequently blocked the Jammu–Srinagar National Highway, a vital route for transporting goods. This disruption resulted in hundreds of trucks being stranded, leading to spoilage and increased transport costs. Farmers reported that between 2.5 to 3 million metric tons of apples were stored, a notable rise compared to previous years. With Kashmir producing over 75% of India's apples and supporting around 3.5 million farmers, the region's fruit economy is crucial, though changing climate patterns and rising costs are forcing growers to rethink their selling strategies. 
Published: Feb 02 2026, 8 pmeznews.inIn her first media interview following the presentation of her ninth Budget, Finance Minister Nirmala Sitharaman discussed key proposals and defended tax increases on derivatives and secondary market transactions in sovereign gold bonds. Emphasizing stability in tax administration, she noted that most reforms had already been implemented, leaving little room for further changes. Sitharaman highlighted a focus on urban development, with ₹1,000 crore allocated annually for cities with populations over five lakh, and reiterated her commitment to farmers through various initiatives. She expressed confidence in meeting revenue projections, particularly in personal income tax, despite lower-than-expected collections. Addressing concerns over capital expenditure, she clarified that delays in fund release were due to pending utilization certificates from states. Sitharaman also introduced the "Orange Economy" initiative to enhance skills in creative industries and explained the rationale behind taxing secondary market transactions, aiming to deter speculative trading.
Published: Feb 02 2026, 10 pmeznews.inIndia's Finance Minister Nirmala Sitharaman announced a significant reduction in customs duty on goods imported for personal use, lowering the levy from 20% to 10% in her recent Budget presentation. This change applies to items brought by international travellers and those ordered online for personal consumption, addressing previously high levies that often surprised consumers at airports or during parcel deliveries. Analysts, however, suggest that the impact on cross-border e-commerce may be limited, as it constitutes a small segment of India's online retail market. The revised Baggage Rules also introduce higher duty-free limits of up to ₹75,000 per person and a trust-based settlement mechanism for honest travellers, aiming to create a more passenger-friendly customs regime. The duty cut is expected to ease the import process for individual buyers and reduce congestion at customs checkpoints, benefiting those purchasing personal items abroad.
Published: Feb 02 2026, 9 pmeznews.inIndia has recently overtaken Japan to become the world's fourth-largest economy, yet stark disparities in public health spending persist, with Japan allocating nearly 10-11% of its GDP to healthcare compared to India's 1.6-1.9%. The 2026 Budget saw a slight increase in healthcare allocation to ₹1,04,599 crore, but it remains insufficient to address the growing demand for medical services and technology. Key initiatives include a ₹10,000 crore commitment to establish India as a global biopharma hub and a focus on digital health infrastructure. The Budget also aims to enhance the Ayushman Bharat scheme, expand emergency care, and address workforce shortages by training 1 lakh Allied Health Professionals. While these measures signal progress towards a more inclusive and innovative healthcare system, experts caution that investment levels must rise significantly to bridge the gap between ambition and actual public spending needs.
Published: Feb 02 2026, 9 pmeznews.inSridhar Pinnapureddy, Founder and CEO of CtrlS Datacenter, has highlighted India's datacenter industry as poised for a transformative trillion-dollar investment cycle, driven by surging digital demand, geopolitical shifts, and supportive infrastructure policies. With over a billion people online and a burgeoning AI landscape, datacenters are now deemed critical national infrastructure. The sector is expected to reach 1.8 GW capacity by 2027, reflecting growing confidence in India's ability to support large-scale digital infrastructure. Ahead of the Union Budget 2026, Pinnapureddy called for policies that enhance predictability in capital deployment and energy access, including designating datacenters as critical infrastructure. He emphasized the need for power sector reforms to facilitate green datacenter growth and welcomed the budget's tax incentives for foreign companies, which aim to attract global cloud investments. The focus on indigenous capabilities through the India Semiconductor Mission 2.0 further strengthens the country’s technological sovereignty, positioning India as a leader in the global digital landscape.
Published: Feb 02 2026, 9 pmeznews.inIndia's Defence Budget for 2026-27 has seen a significant increase, rising to ₹7.84 lakh crore from ₹6.81 lakh crore last year, marking a 15.12% rise in real terms after accounting for inflation. This allocation, approximately 2% of GDP, reflects a shift from a declining trend in defence spending, which had reached a low of 1.9% of GDP. The budget emphasizes modernization and operational readiness, with a 21.67% increase in capital outlay for equipment and infrastructure, alongside a 17% rise in revenue allocation to address ammunition and maintenance deficiencies. However, the combined total for capital and operational sustenance remains only 46% of the overall budget, prompting calls for a target of 2.25% of GDP by 2030 to enhance India's military capabilities. This budget aligns with India's strategic autonomy and geopolitical aspirations, underscoring the need for robust defence preparedness amid global uncertainties.
Published: Feb 02 2026, 9 pmeznews.inIndia is strategically positioning itself to achieve its goal of becoming a developed nation by 2047 through a comprehensive framework of policy reforms and significant fiscal support, according to Rajkiran Rai G, Managing Director of the National Bank for Financing Infrastructure and Development (NBFID). The government’s focus on infrastructure modernization, with an estimated growth multiplier of three, aims to enhance connectivity and alleviate capacity constraints across transport, energy, and urban sectors. The Union Budget 2026-27 reflects this holistic approach, allocating ₹12.2 trillion for capital expenditure, emphasizing multi-modal connectivity and urban infrastructure. Notably, the establishment of an 'Infrastructure Risk Guarantee Fund' is expected to lower capital costs and encourage public-private partnerships. With a shift towards non-bank financing, NBFID has mobilized significant resources, sanctioning loans exceeding ₹3 trillion. As India seeks to blend investment and innovation, the budget aims to incentivize both domestic and foreign investments, fostering a sustainable growth trajectory.
Published: Feb 02 2026, 9 pmeznews.inIn a significant boost for Telangana, the Union Budget for 2026-27 has allocated a record ₹5,454 crore for railway projects in the state, as announced by Union Minister for Railways Ashwini Vaishnaw during a virtual press conference on February 2, 2026. This allocation marks a nearly sixfold increase compared to the average budget of ₹886 crore for the combined Andhra Pradesh from 2009 to 2014. Vaishnaw highlighted that Telangana is currently executing various infrastructure projects worth ₹47,984 crore, including three high-speed rail corridors originating from Hyderabad. These corridors are expected to drastically reduce travel times, with journeys between Hyderabad and Bengaluru taking just two hours, Hyderabad to Chennai 2 hours and 55 minutes, and Hyderabad to Pune 1 hour and 55 minutes. The new rail initiatives aim to enhance mobility and stimulate economic growth across the region.
Published: Feb 02 2026, 8 pmeznews.inIn his analysis of India's Union Budget 2026-27, Kalyan Krishnamurthy, CEO of Flipkart Group, emphasizes the government's commitment to sustainable economic growth through a focus on productivity, trust, and inclusion, with the Indian consumer at the forefront. The budget aims to enhance digital public infrastructure, streamline taxation, and bolster household finances, fostering a more predictable economic environment. Key initiatives include a ₹10,000 crore SME Growth Fund and support for women-led self-help groups, which are expected to drive inclusive growth. Additionally, investments in infrastructure and technology, particularly artificial intelligence, are set to improve logistics and productivity across sectors. The budget also addresses the evolving gig economy, ensuring that skilling and social protections keep pace with new job opportunities. Overall, the budget aligns with the Viksit Bharat vision, promoting long-term growth while prioritizing everyday progress for consumers and businesses alike.
Published: Feb 02 2026, 8 pmeznews.inStakeholders in India's fertilizer sector are optimistic about the government's focus on domestic production and deep-tech initiatives, which they believe will bolster the industry. S Sankarasubramanian, Chairman of the Fertiliser Association of India, emphasized the importance of customs duty rationalization and addressing inverted GST structures to streamline costs and enhance cash flows. Rajib Chakraborty, President of the Soluble Fertilizer Industry Association, welcomed the ₹20,000 crore allocation for Deep Tech, advocating for innovations in fertilizer production to reduce import dependence and secure food and energy value chains. However, the Union Budget 2026-27 has allocated ₹1.71 lakh crore for fertilizer subsidies, an 8% decrease from previous estimates, raising concerns about potential shortfalls in complex fertilizers. Despite this, industry leaders like Sanjiv Kanwar of Yara South Asia praised the budget's focus on high-value agriculture and support for small farmers, indicating a commitment to inclusive growth and sustainability.
Published: Feb 02 2026, 8 pm
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