eznews.inIndian IT services firms are poised for muted growth in Q3 FY26, as seasonal furloughs and reduced working days counterbalance a cautious demand environment. Analysts predict that revenue growth will be constrained, similar to Q3 FY25, with aggregate revenue for top firms expected to rise in high single digits year-on-year. Margin performance may remain flat, aided by the depreciation of the Indian Rupee, though wage hikes and furloughs could limit gains. Deal activity is steady but primarily focused on renewals, with new signings lagging due to client hesitance amid macroeconomic uncertainties. While AI integration is advancing, its direct revenue contribution remains minimal, as spending is largely reallocating from existing budgets. Mid-tier firms are expected to outperform large caps, with Persistent and Coforge leading growth. Sector performance varies, with BFSI showing resilience, while manufacturing and communication face challenges. Overall, demand is anticipated to remain stable until early CY26, when tech budgets are finalized. 
Published: Jan 04 2026, 8 pmeznews.inThe Indian government's draft rules for gig workers, pre-published on December 30, propose that workers must be employed by a single aggregator for at least 90 days annually to access social security benefits, including health and life insurance. Those working with multiple aggregators will need to provide services for a minimum of 120 days in a financial year. The Ministry of Labour and Employment is inviting public feedback for 45 days before finalizing the rules. A 2022 Niti Aayog report estimated the gig workforce at 7.7 million, projected to rise to 23.5 million by 2030. Amid ongoing protests for better pay and working conditions, unions argue that regulatory changes are necessary to address exploitation. The draft also mandates that aggregators register workers on a central portal, e-Shram, to facilitate access to social security schemes, with benefits ceasing at age 60 or if employment conditions are not met.
Published: Jan 04 2026, 7 pmeznews.inFarmers in Lucknow are being cautioned against the excessive use of urea fertiliser, which is prevalent among some growers who apply 50-100% more than necessary. Prof. Aldus Janaiah, Vice-Chancellor of Prof. Jayashankar Telangana Agricultural University, highlighted that this misconception—that more urea leads to higher yields—is unfounded and could result in serious health risks due to chemical residues in crops. He warned that overuse not only pollutes the soil and diminishes grain quality but also compromises plant immunity, increasing vulnerability to pests and diseases. While nitrogen is crucial for plant growth, Janaiah urged farmers to apply urea judiciously, noting that its low cost compared to other fertilisers often drives excessive usage. The statement underscores the need for sustainable agricultural practices to safeguard both consumer health and environmental integrity.
Published: Jan 04 2026, 7 pmeznews.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 pm
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