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Kerala Finance Minister KN Balagopal unveiled the State Budget for 2026-27 in Thiruvananthapuram, projecting a cumulative deficit of ₹1,773.46 crore, primarily due to welfare pension payouts and salary revisions that will burden the next government. The budget includes an additional expenditure of ₹1,350 crore, with revenue expenditure expected to rise to ₹2,17,558.76 crore. A significant allocation of ₹14,500 crore is earmarked for welfare pensions, alongside wage increases for various workers. The budget also proposes a new pay revision commission and an assured pension scheme, which has drawn criticism from the Opposition, who label it as a politically motivated "irrelevant budget." Additionally, a general amnesty scheme for tax arrears related to pre-GST laws was announced, aiming to waive certain tax dues. This budget follows a recent "mini budget" that included various welfare initiatives ahead of local elections. 
Published: Jan 29 2026, 6 pmeznews.inIndia's IT and IT-enabled services (IT-ITeS) sector demonstrated resilience in FY25, achieving a revenue of $283 billion, marking a 5.1% year-on-year growth despite global tech spending challenges, according to the Economic Survey 2025-26. The sector's expansion is largely attributed to the rise of Global Capability Centres (GCCs), which have evolved from support roles to integral parts of multinational operations, focusing on product development, analytics, and AI functions. With over 1,700 GCCs employing 1.9 million professionals, India has solidified its status as a global hub for these centres. While the US remains the largest market for Indian software exports, its share has declined, with Europe gaining ground. Experts emphasize the need for a supportive policy environment to enhance innovation and scalability, ensuring the IT-ITeS sector continues to drive India's medium-term growth and productivity.
Published: Jan 29 2026, 7 pmeznews.inThe Economic Survey has recommended reducing the government's stake in certain listed Central Public Sector Enterprises (CPSEs) to 26% to facilitate disinvestment, a shift termed "equity monetisation." Currently, around 30% of listed CPSEs have government shareholding below 60%, which restricts further disinvestment through Offer for Sale (OFS) due to legal stipulations requiring at least 51% government ownership. The survey suggests amending the definition of a 'Government Company' under the Companies Act for listed entities, allowing them to maintain government status with a minimum 26% stake. Alternatively, it proposes phased OFS without changing the legal definition, enabling CPSEs to operate as professionally managed entities with improved governance. The survey also emphasizes that proceeds from disinvestment could be reinvested in emerging technologies through platforms like the National Investment and Infrastructure Fund, promoting future growth while ensuring a steady stream of capital receipts.
Published: Jan 29 2026, 7 pmeznews.inIndia's seaweed production has surged nearly threefold in the past decade, increasing from 18,890 tonnes in 2015 to 74,083 tonnes in 2024, according to Union Minister of State for Fisheries George Kurian. Speaking at the 7th India International Seaweed Expo and Summit at the ICAR–Central Marine Fisheries Research Institute, Kurian highlighted the government's commitment to expanding seaweed cultivation and related industries, which are seen as vital for sustainable livelihoods and coastal development. The PM Dhan-Dhaanya Krishi Yojana has included seaweed as a key output, targeting 100 aspirational districts, including areas in Kerala. The two-day expo, co-organised by the Indian Chamber of Commerce and other institutions, showcased a variety of seaweed products, from food items to bio-fertilisers, and served as a networking platform for international participants, including representatives from over ten countries.
Published: Jan 29 2026, 6 pmeznews.inIndia's Economic Survey advocates for a disciplined approach to its _swadeshi_ strategy, emphasizing the need to enhance export capabilities rather than solely focusing on import substitution amid shifting geopolitical dynamics. The report critiques permanent protection in competitive sectors and highlights the importance of learning from international examples, particularly East Asia and Vietnam, which have thrived through cost reduction and regulatory efficiency rather than heavy protectionism. It argues that India's growing economy will naturally lead to increased imports, a trend historically observed globally, and should not be viewed as a failure. The Survey calls for a national _swadeshi_ strategy that encourages competition among states, rewards successful outcomes, and promotes best practices, while the government should focus on setting direction and minimizing barriers to foster a robust logistics and transportation sector, crucial for integrating into global supply chains.
Published: Jan 29 2026, 6 pmeznews.inAs the Indian government prepares for Budget 2026, taxpayers are advised to shift their focus from traditional tax breaks to key indicators that could influence investment returns. With the Goods and Services Tax (GST) implemented and capital gains tax rates standardized, the Budget is expected to provide limited direct benefits. Investors should monitor the fiscal deficit target for FY26, projected at ₹15.68 lakh crore, and its implications for borrowing and market yields. Additionally, capital outlays, particularly in infrastructure, are crucial as the government’s role in driving investment has increased post-COVID. The upcoming Budget may also address production-linked incentives (PLIs) to bolster domestic manufacturing amid global trade tensions. Furthermore, the Eighth Pay Commission's recommendations could significantly impact government salaries and fiscal health. Lastly, potential adjustments to customs duties on gold and silver may affect the current account deficit and currency stability, making these developments essential for investors.
Published: Jan 29 2026, 6 pmeznews.inThe Economic Survey 2026 has highlighted the potential of the "orange economy," particularly through concerts and live entertainment, as a catalyst for growth in India's media, entertainment, and tourism sectors. With the live entertainment market surpassing $100 billion in 2024, the survey emphasizes that concerts not only generate revenue from ticket sales but also stimulate tourism and create jobs across various industries, including hospitality and logistics. However, it points out structural challenges, such as a lack of venues and restrictions on foreign payments to artists. To enhance this sector, the survey suggests opening heritage sites for events and streamlining the permissions process, which currently requires multiple clearances. It stresses that the success of the concert economy hinges on urban readiness and effective governance, which are essential for maximizing economic benefits and integrating live events into broader tourism strategies.
Published: Jan 29 2026, 6 pmeznews.inA recent survey has recommended that India's fertilizer subsidy be restructured to better align with agro-climatic zones and specific cropping patterns, as fertilizer needs vary significantly across different crops and soils. It noted that while fertilizer application rates have increased, yield responses have plateaued or declined, prompting calls for a modest increase in urea prices, currently fixed at ₹267 per 45 kg bag, with direct subsidies transferred to farmers. The government currently subsidizes nitrogen, phosphorous, potash, and sulphur at varying rates. NITI Aayog Member Ramesh Chand emphasized the complexities of implementing direct benefit transfers (DBT) for fertilizers, suggesting that farmers may face higher costs. However, the survey argued that India's digital agriculture infrastructure could facilitate this reform, allowing for precise tracking of nutrient use and timely financial support to farmers. It also highlighted the need for balanced fertilization to restore soil health and improve crop resilience.
Published: Jan 29 2026, 5 pmeznews.inIndia's commercial aircraft fleet is set to triple to 2,250 aircraft over the next decade, positioning the country as the third-largest civil aviation market globally by 2035, according to Airbus India’s President Jürgen Westermeier. Speaking at a press conference during Wings India 2026, Westermeier highlighted that this significant expansion is fueled by a booming aviation market and Indian airlines' aspirations to enhance their international presence. He also noted that passenger traffic in India is projected to grow at an impressive rate of 8.9% annually, outpacing other major economies and exceeding the long-term global average. This growth reflects the increasing demand for air travel in the country, underscoring India's rising prominence in the global aviation sector.
Published: Jan 29 2026, 5 pmeznews.inIndia is positioning itself as a key destination for global energy investment, with a $500 billion roadmap aimed at bolstering its energy infrastructure to support its rapid economic growth. In an interview, Indian Oil Corporation (IOC) Chairman Arvinder Singh Sahney emphasized that the country's ambition to become the world's third-largest economy necessitates significant investments across various sectors, including exploration, refineries, petrochemicals, renewables, and green hydrogen. He highlighted the importance of international collaboration, particularly with the EU and Canada, to leverage advanced technologies for sustainable energy solutions. Sahney clarified that IOC's procurement strategy is driven by commercial viability rather than geographical preferences, allowing for flexibility in sourcing crude oil and other energy products. He noted that fluctuations in energy purchases from the U.S. are dictated by market dynamics, underscoring the company's commitment to diversifying its energy portfolio to meet growing demand.
Published: Jan 29 2026, 5 pm
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