eznews.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 pmeznews.inApple 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 a bid to bolster India's civilian aircraft manufacturing capabilities, the Union Budget for Financial Year 2026-27 has introduced significant measures, according to Civil Aviation Secretary Samir Sinha. The budget proposes a full exemption of basic customs duty on components for civilian and training aircraft, aimed at enhancing domestic production and the maintenance, repair, and overhaul ecosystem. Additionally, initiatives to promote aircraft leasing at Gujarat International Finance Tec-City are set to lower operating costs for airlines, potentially reducing airfares. The budget also emphasizes the development of a seaplane ecosystem, with plans for indigenisation and a Seaplane Viability Gap Funding scheme to improve connectivity and tourism in remote areas. Overall, Sinha highlighted that these proposals aim to create an integrated aerospace ecosystem, supporting both civil and defence aviation while positioning India as a global manufacturing and export hub.
Published: Feb 02 2026, 7 pmeznews.inThe Indian government plans to introduce a revised Insolvency and Bankruptcy Code (IBC) Amendment Bill during the second half of the budget session starting March 9, 2026, following recommendations from a Parliamentary committee. Finance Minister Nirmala Sitharaman announced that the amendments aim to enhance the efficiency and timelines of insolvency proceedings, aligning India's framework with global best practices. This will mark the seventh amendment since the IBC's enactment in 2016, with the last update occurring in 2021. Key recommendations from the committee include establishing conduct standards for the Committee of Creditors, revising the appointment process for liquidators, and setting a statutory timeline for appeals to be resolved within three months. Sitharaman also highlighted the government's focus on investment to stimulate growth and addressed the volatility in gold prices amid global uncertainties, emphasizing a fiscal deficit target of 4.3% for the upcoming fiscal year.
Published: Feb 02 2026, 7 pmeznews.inPatel Retail, a diversified retail and food processing firm, has reported a remarkable 96% year-on-year increase in net profit for the December quarter, reaching ₹12 crore, driven by robust demand. The company's income surged 36% to ₹311 crore, while EBITDA rose 64% to ₹25 crore. Patel Retail has secured new orders worth ₹25 crore from various international markets, including Italy, the UK, UAE, and Saudi Arabia, highlighting strong global demand and confidence in its product quality. Chairman Dhanji Patel noted that improved profitability and margin expansion reflect the effectiveness of their integrated business model. The company has also expanded its physical retail presence with a new store in the Mumbai Metropolitan Region. Despite these positive developments, shares dipped slightly to ₹196 on Monday. The firm continues to enhance its international footprint and operational efficiency, bolstering its position in both domestic and export markets.
Published: Feb 02 2026, 7 pmeznews.inThe Union Budget 2026 has introduced a significant measure allowing Special Economic Zone (SEZ) units to sell gems and jewellery in the domestic market at concessional duties, aimed at helping manufacturers cope with declining exports. This initiative comes as overall gem and jewellery exports remained stagnant at $20.75 billion from April to December, with a staggering 44% drop in exports to the US due to punitive tariffs. The one-time measure will enable SEZ units to utilize idle capacity while ensuring a level playing field with domestic manufacturers. Industry leaders, including Kirit Bhansali of the Gem and Jewellery Export Promotion Council, welcomed the move, highlighting its potential to safeguard jobs and bolster trade amid global demand fluctuations. Additionally, the Budget supports e-commerce by removing the ₹10 lakh cap on courier exports and extends duty-free imports of lab-grown diamond seeds until March 2028, further enhancing the sector's growth prospects.
Published: Feb 02 2026, 7 pmeznews.inIrfan Razack, Chairman and Managing Director of Prestige Group, has praised the Union Budget for its commitment to fostering a future-ready economy through significant infrastructure investment and innovative financial strategies. Key highlights include an increase in public capital expenditure from ₹11.2 lakh crore in FY 2026 to ₹12.2 lakh crore in FY 2027, aimed at stimulating growth across various sectors, particularly in Tier 2 and Tier 3 cities. The introduction of dedicated Real Estate Investment Trusts (REITs) for Central Public Sector Enterprise (CPSE) asset recycling is expected to unlock nearly ₹10 lakh crore in underutilised assets, enhancing transparency and attracting private investment. Additionally, the proposed Infrastructure Risk Guarantee Fund will mitigate project risks, encouraging private developers to engage in large-scale urban projects. Overall, these measures are seen as pivotal in driving economic growth and positioning India as a global economic powerhouse, with real estate at the forefront of urban development.
Published: Feb 02 2026, 7 pmeznews.inSince 2020, the Indian government has auctioned 136 coal blocks, generating an anticipated revenue of Rs 43,000 crore and creating employment for 500,000 people, as reported by Minister of State for Coal Satish Chandra Dubey in the Rajya Sabha. The auctions, conducted in line with Niti Aayog's recommendations, have seen participation from 44 new companies, including public sector undertakings (PSUs) like Coal India. Dubey also addressed a proposal from the Telangana government regarding the Tadicherla coal block, stating that a formal request outlining its unique attributes is necessary for consideration. He emphasized that previous allotments to the Singareni Collieries had not been fully utilized, with only one block currently operational. The government aims to continue a participative bidding process for future allocations, ensuring that all coal blocks are auctioned for commercial purposes, as per the recommendations of a High-Level Committee established in 2019.
Published: Feb 02 2026, 6 pm
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