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In a significant move towards modernising its armed forces, the Ministry of Defence (MoD) has signed capital contracts worth ₹1,82,492 crore in FY26. Recently, contracts totalling ₹4,666 crore were finalised for the procurement of close quarter battle (CQB) carbines and heavyweight torpedoes. The CQB carbines, valued at ₹2,770 crore, will be supplied by Bharat Forge Ltd and PLR Systems Pvt Ltd, replacing outdated British models. Bharat Forge plans to establish a manufacturing facility in Pune, while Adani Defence will produce its share at its Gwalior facility. Deliveries are expected to start in September 2026. Additionally, a ₹1,896 crore contract with Italy's WASS Submarine Systems will enhance the Indian Navy's Kalvari-class submarines with 48 advanced torpedoes, set for delivery between April 2028 and early 2030. The MoD emphasised that these initiatives align with the Aatmanirbhar Bharat vision, boosting indigenous defence manufacturing and economic growth. 
Published: Dec 30 2025, 7 pmeznews.inThe Uttar Pradesh State Agriculture Council (UPSAC), a consortium of entrepreneurs and agricultural scientists, has urged the state government to implement area-specific, evidence-based interventions to enhance agricultural success rates. In its inaugural board meeting, UPSAC resolved to transform agricultural scale into value and promote sustainable growth, as stated by chairman Ghanshyam Khandelwal. He emphasized Uttar Pradesh's pivotal role in India's agriculture and the council's potential as a policy think tank and a catalyst for investment and innovation. Key discussions included improving seed quality, water-use efficiency, soil health, and post-harvest management. Tushar Sharma of UPSAC reiterated the council's commitment to translating policy discussions into tangible benefits for farmers, while Sanjay Singh from UPCAR highlighted the importance of replicating successful models to bolster farmer income resilience. These recommendations are set to be presented to the government for consideration.
Published: Dec 30 2025, 8 pmeznews.inPrime Minister Narendra Modi convened a meeting with economists at NITI Aayog in New Delhi on Tuesday, focusing on the upcoming Union Budget and the vision for a developed India by 2047. Economists advised reducing government capital expenditure to around 3% of GDP to prevent crowding out private investment, as higher government spending leads to increased borrowing and higher costs for the private sector. The current budget allocates ₹11.21 lakh crore for capital expenditure, with an effective total of ₹15.48 lakh crore. Concerns were raised about declining household financial savings, which could limit financing options for both government and private sectors. Modi emphasized the need for mission-mode reforms and building world-class capabilities to achieve the Viksit Bharat vision, highlighting the importance of structural transformation, increased savings, infrastructure development, and the role of technology, including artificial intelligence, in enhancing productivity.
Published: Dec 30 2025, 8 pmeznews.inThe Ministry of Labour and Employment is poised to finalize a framework for extending social security to gig and platform workers in 2026, alongside the anticipated launch of EPFO 3.0 by the end of the current financial year. This new system will allow provident fund withdrawals directly through bank ATMs and UPI, enhancing user accessibility. The Ministry's recent review highlighted the implementation of four significant labour codes, which modernize regulations and improve worker welfare, including statutory minimum wages and expanded protections for women and migrant workers. Employment generation remains a priority, exemplified by the Pradhan Mantri Viksit Bharat Rozgar Yojana, which aims to create over 3.5 crore jobs. The Ministry also reported a rise in social protection coverage from 19% in 2015 to 64.3% in 2025, earning India the ISSA Award for Outstanding Achievement in Social Security. Looking ahead, the focus will remain on digital infrastructure and social security for gig workers.
Published: Dec 30 2025, 8 pmeznews.inIndiGo has been hit with a ₹458 crore tax demand from the goods and service tax (GST) commissionerate, concerning compensation received from a foreign supplier and the denial of input tax credit for the fiscal years 2019-2023. The airline disclosed this development in a stock exchange notification on Tuesday, stating its intention to appeal the order, which it deems erroneous and inconsistent with the law. IndiGo noted that it has previously contested a similar tax order related to FY 2018 and plans to challenge this latest demand as well. The airline emphasized that the new tax order will not significantly affect its financials, operations, or other activities. This marks the third tax order issued against IndiGo by GST authorities in December, following earlier demands of ₹58 crore and ₹117 crore for different issues earlier in the month.
Published: Dec 30 2025, 8 pmeznews.inHindustan Aeronautics Ltd (HAL) has successfully conducted the inaugural flight of its Dhruv New Generation (NG) helicopter, a 5.5-tonne, light twin-engine, multi-role aircraft designed to meet the challenging demands of Indian terrain. The flight, which took place in Bengaluru, was inaugurated by Civil Aviation Minister Kinjarapu Ram Mohan Naidu, who hailed it as a significant milestone for Indian aviation and a testament to the "Make in India" initiative. HAL's Chairman D K Sunil emphasized that the Dhruv NG is pivotal for the company's expansion into the civil aviation sector, building on the success of the Dhruv Mk 1, which has logged over 24,000 flight hours. The helicopter features advanced safety and reliability systems, including crashworthy seats and self-sealing fuel tanks. Additionally, HAL received certification for the indigenous production of the Shakti Civil Engine, marking a first for the Indian aerospace industry.
Published: Dec 30 2025, 7 pmeznews.inIndiGo is under scrutiny following significant operational disruptions earlier this month, prompting the Centre to review a confidential report from the Directorate General of Civil Aviation (DGCA). The report investigates the causes behind extensive flight cancellations and aims to formulate strategies to prevent future incidents. IndiGo has been asked to provide its recruitment plans for pilots and cabin crew, alongside details on training pipelines and measures to address crew management and regulatory compliance. The airline has appointed international aviation expert John Illson for an independent assessment of the disruptions, which IndiGo attributes to a mix of technical issues, schedule changes, adverse weather, and updated flight duty regulations. In response to the situation, the DGCA has mandated a 10% reduction in IndiGo's flight schedule and requested a revised operational plan. To boost pilot morale, IndiGo will increase cockpit crew allowances starting January 1, 2026.
Published: Dec 30 2025, 7 pmeznews.inIn 2025, onion farmers in India faced severe financial distress, selling their produce at prices significantly below production costs, according to the Maharashtra State Onion Producer Farmers’ Organisation. While the cost of production ranged from ₹22 to ₹25 per kg, market prices fluctuated between ₹8 and ₹18 per kg throughout the year, leading to mounting losses and increased debt among growers. Despite the Centre's procurement of three lakh tonnes of onions to create a buffer stock, farmers allege that purchases were made through intermediaries, benefiting a select few and resulting in financial irregularities. Bharat Dighole, president of the organisation, criticized the buffer stock operation as a policy failure that economically suffocated farmers. The association has called for a high-level judicial inquiry into the procurement process and threatened statewide protests if their demands for accountability are not met.
Published: Dec 30 2025, 7 pmeznews.inIndia is poised to strongly oppose the proposed inclusion of the Investment Facilitation for Development (IFD) Agreement at the upcoming WTO Ministerial Conference (MC14) in Cameroon in March 2026. While 128 countries have endorsed the agreement, India argues that investment is a non-trade issue that falls outside the WTO's mandate, potentially undermining the regulatory space needed by developing nations for foreign direct investment (FDI). At a recent WTO General Council meeting, India reiterated its stance against the IFD, which has been submitted for adoption 11 times without consensus. South Africa has shifted its position to support the agreement, while Turkey expressed a willingness to engage in further dialogue. Experts warn that if the IFD is incorporated, it could set a precedent for other non-trade issues, sidelining critical development concerns such as agricultural support for developing countries.
Published: Dec 30 2025, 7 pmeznews.inArtificial Intelligence (AI) is projected to contribute up to $1.7 trillion to India's economy by 2035, emerging as a key growth driver, according to government estimates. This forecast coincides with increased public investment and policy support, exemplified by the IndiaAI Mission, which has earmarked over ₹10,300 crore for enhancing computing infrastructure, fostering startups, and expanding skilling initiatives. AI's economic impact is expected to span various sectors, including healthcare, agriculture, and education, enhancing productivity through automation and data-driven decision-making. The technology sector, currently employing over six million people, is anticipated to see its AI talent pool double to over 12.5 lakh professionals by 2027. The government has also initiated reskilling programs, with over 18.5 lakh candidates enrolled in the FutureSkills PRIME platform. Additionally, efforts to build affordable AI infrastructure and promote inclusivity through multilingual tools aim to ensure that AI benefits reach a broader demographic, including India's 490 million informal workers.
Published: Dec 30 2025, 5 pm
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