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A tragic plane crash near Baramati airport in Maharashtra claimed the lives of Deputy Chief Minister Ajit Pawar and four others, with wreckage found just 200 metres from the runway. In response, Union Civil Aviation Minister Kinjarapu Rammohan Naidu announced that an investigation is underway, led by teams from the Aircraft Accident Investigation Bureau (AAIB) and the Directorate General of Civil Aviation (DGCA). The black box has been recovered, and officials are adopting a timeline-based approach to expedite the investigation process. Naidu emphasized the government's commitment to aviation safety, stating there is zero tolerance for negligence. He reassured the public that India is regarded as one of the safest countries for aviation, highlighting safety and security as fundamental pillars for the sector's growth. The incident has raised concerns, prompting a review of global safety standards to enhance aviation practices in India. 
Published: Jan 29 2026, 9 pmeznews.inIn response to the 50 per cent tariffs imposed by the US in August 2025, Indian exporters demonstrated remarkable resilience, particularly in sectors such as gems and jewellery, textiles, marine products, automobiles, pharmaceuticals, paper, and leather. The Economic Survey highlighted that market diversification allowed these industries to redirect shipments to alternative markets, notably in West Asia, the European Union, and parts of Africa, mitigating the impact of the tariffs. For instance, the US's share in India's gems and jewellery exports plummeted from 33.7 per cent to 18.7 per cent, while the UAE and Hong Kong's combined share surged to 53.6 per cent. Despite initial growth forecasts being revised downward, actual growth accelerated due to structural reforms and new free trade agreements, including those with the EU and Oman. Overall, merchandise exports grew by 2.4 per cent, while services exports rose by 6.5 per cent during the April-December 2025 period.
Published: Jan 29 2026, 10 pmeznews.inIn a notable shift from previous years, rural inflation in India has declined and is now lower than urban inflation, alleviating rural economic stress, according to the Economic Survey presented in Parliament. The survey forecasts that retail inflation, based on the Consumer Price Index (CPI), will remain benign in fiscal year 2026-27, with both the Reserve Bank of India (RBI) and the IMF predicting a moderate increase in headline inflation, yet still within the target range of 2-6%. Despite potential risks from currency fluctuations and global uncertainties, inflationary pressures are expected to remain contained. The report highlights a significant drop in domestic inflation, averaging 1.7% for the first three quarters of 2025, largely due to falling food and fuel prices. The RBI has responded by cutting the policy rate by 125 basis points since February 2025, while government measures have aimed to stabilize food prices and reduce volatility.
Published: Jan 29 2026, 10 pmeznews.inIn a significant address during the Parliament Budget Session, Finance Minister Nirmala Sitharaman presented the Economic Survey, highlighting India's robust macroeconomic performance, with projected GDP growth for FY2026-27 estimated between 6.8% and 7.2%. This forecast surpasses the 6.4% to 6.6% predictions from various multilateral agencies, showcasing India's resilience amid global economic challenges. Chief Economic Advisor V. Anantha Nageswaran described India as "an oasis of macro stability," emphasizing the need for enhanced manufacturing and export competitiveness to potentially elevate growth to 7.5% to 8%. Prime Minister Narendra Modi praised the Survey for reflecting strong economic fundamentals and the role of innovation in nation-building. However, the Survey also cautioned about subdued global growth and persistent risks, including potential fallout from the AI boom and ongoing trade conflicts, suggesting a cautious outlook for the medium term as firms adapt to changing conditions.
Published: Jan 29 2026, 9 pmeznews.inIn a significant advancement for India's maritime sector, the Government has established its first Special Purpose Vehicle (SPV), the National Shipbuilding & Heavy Industries Park in Tamil Nadu (NSHIP, TN), through a 50:50 joint venture between VOC Port and SIPCOT. This initiative, part of the ₹19,989 crore Shipbuilding Development Scheme, aims to enhance domestic shipbuilding capacity to 4.5 million Gross Tonnage. Located in Tuticorin, the SPV will foster a mega shipbuilding cluster, promoting industrial growth and creating substantial employment opportunities. It will also develop essential infrastructure, facilitate joint ventures, and mobilize capital, while collaborating with global partners. Notably, major players like HD Hyundai and Cochin Shipyard are set to invest ₹30,000 crore in three greenfield shipyards in Thoothukudi, projected to generate 55,000 jobs. The Shipyard Association of India has expressed optimism about the maritime industry's potential, bolstered by government support and policy initiatives.
Published: Jan 29 2026, 9 pmeznews.inIndia's Economic Survey 2025-26 highlights the nation's urbanisation as a critical yet unfinished promise, emphasizing that while cities generate the majority of national output, they lag behind global counterparts like New York and London in performance. The survey identifies urbanisation as a dual-edged sword, fostering productivity and innovation but also leading to congestion and governance challenges. To address these issues, it advocates for an integrated approach, including clearer land titles, improved density norms, and enhanced public transport to boost affordability and liveability. Additionally, it calls for a shift from coverage-led to resource-efficient urban services, alongside fostering civic responsibility and better financial management. Ultimately, the survey underscores the need for strategic investment in urban areas, positioning them as vital economic assets essential for aligning public policy with India's developmental goals.
Published: Jan 29 2026, 9 pmeznews.inThe Statistics Ministry is set to release the first data set for headline inflation in January 2026, along with back series data from January 2013, on February 12. This release follows recommendations from an expert group advocating for a reduction in the weight of volatile food and beverages in the Consumer Price Index (CPI), from 45.86% to 36.75%. The new CPI, based on updated weights, is projected to increase marginally by 20-30 basis points, with lower readings during periods of high food inflation. The revised CPI will also incorporate a broader item basket, expanding from 299 to 358 weighted items, including new categories such as rural house rent and online streaming services. Price data will be collected from 1,465 rural and 1,395 urban markets, with additional focus on e-commerce platforms to reflect changing consumer habits.
Published: Jan 29 2026, 9 pmeznews.inIndia is set to enhance its critical mineral value chains to reduce import dependence and address supply vulnerabilities, as outlined in the Economic Survey 2025-26 presented in Parliament. The survey highlights a surge in global demand for minerals like lithium, copper, and rare earth elements, driven by advancements in energy transition technologies, electric mobility, and manufacturing. To tackle supply-side challenges, including declining ore grades and geopolitical competition, India aims to strengthen domestic capabilities across the entire mineral value chain, from exploration to recycling. This strategy includes acquiring overseas mineral assets and forming international partnerships to diversify sourcing. Enhanced geological exploration and regulatory reforms are expected to boost private sector participation, while recycling initiatives are identified as crucial for improving resource efficiency and addressing environmental concerns. The National Critical Mineral Mission is central to operationalizing these strategies, fostering a more resilient critical mineral ecosystem in the long term.
Published: Jan 29 2026, 9 pmeznews.inBetween FY22 and FY25, the administered price of maize-based ethanol rose at a compound annual growth rate (CAGR) of 11.7%, significantly outpacing ethanol derived from rice or molasses, according to the Economic Survey. Despite this increase, the government's ethanol blending programme has not succeeded in reducing paddy acreage, which grew by 7.5% to 514.2 lakh hectares, nor has it curbed the decline in pulses production. While maize acreage increased by 6.9% to 120.2 lakh hectares, pulses remained stagnant at 276.2 lakh hectares. The Survey noted that maize yields improved from 2.56 to 3.78 tonnes per hectare, attributed to the ethanol initiative, making maize more appealing to farmers. However, yields for other crops have stagnated or declined. The ethanol-blended petrol programme has emerged as a key component of India's energy security, contributing to reduced foreign exchange outflows and emissions while benefiting farmers.
Published: Jan 29 2026, 8 pmeznews.inStorage levels in India's 166 major reservoirs have fallen below 70% of capacity, currently at 68.83%, due to a 23% deficit in rainfall since the start of the year, according to the Central Water Commission (CWC). This equates to 126.354 billion cubic metres (BCM) of the total 183.565 BCM capacity, although it remains 7.5 percentage points higher than last year and 24 percentage points above the 10-year average. Notably, four reservoirs are full, and 51 others exceed 80% capacity. The western region leads with 80.3% storage across its 53 reservoirs, while the northern region stands at 63%, the eastern at 66.48%, and the central region at 70.65%. In the southern region, the 47 reservoirs hold 34.415 BCM of their 55.288 BCM capacity.
Published: Jan 29 2026, 8 pm
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