eznews.inIn a strategic move ahead of the Assembly elections, the Tamil Nadu government has introduced the Tamil Nadu Assured Pension Scheme (TAPS), addressing a long-standing demand from government employees and teachers for financial security. TAPS guarantees a pension of 50% of the last-drawn salary, but unlike the Old Pension Scheme (OPS), it requires a 10% employee contribution, with the state covering additional costs. This scheme resembles the Central government's Unified Pension Scheme (UPS) and aims to balance employee needs with state finances. The initiative is expected to benefit over 600,000 employees, although it poses a significant financial burden, with an upfront cost of ₹13,000 crore and an annual contribution of around ₹11,000 crore. Despite the state's revenue deficit projected at 1.2% of GSDP for FY26, officials have committed to fully funding TAPS to support employee welfare, leading to the withdrawal of a planned strike by employee unions. 
Published: Jan 03 2026, 8 pmeznews.inUnion Agriculture Minister Shivraj Singh Chouhan has called on States to adopt a strategic approach to budget utilisation, cautioning that delays in spending allocated funds lead to losses and hinder the timely release of central instalments. During a review meeting with State agriculture ministers, Chouhan emphasized the importance of expending funds earmarked for various schemes before March to prevent administrative bottlenecks that could disrupt programme implementation. He noted that budget allocations are often stalled due to minor procedural issues. The meeting assessed the progress of central agriculture schemes, including the Pradhan Mantri Rashtriya Krishi Vikas Yojana and Krishonnati Yojana. Chouhan also highlighted the need for prompt verification of eligible farmers under the PM-KISAN scheme, improved crop insurance coverage, and timely claims settlement, while stressing the importance of seed and fertiliser availability. He assured States of continued central support to bolster the agriculture sector and protect farmers' interests.
Published: Jan 03 2026, 7 pmeznews.inThe Maharashtra government has announced a waiver of stamp duty on agricultural and crop loan documents for loans up to ₹2 lakh, a move aimed at alleviating the financial burden on farmers and streamlining the loan process. Revenue Minister Chandrashekhar Bawankule stated that the decision, effective from January 1, 2026, follows directives from Chief Minister Devendra Fadnavis to simplify revenue laws for better accessibility. Previously, farmers were required to pay a stamp duty of 0.3% per ₹1 lakh, which meant a cost of approximately ₹600 for a ₹2 lakh loan. The new policy eliminates this fee on essential legal documents, including title deeds and loan agreements, thereby reducing borrowing costs and making the crop loan process more user-friendly. This initiative will apply statewide and affect all banks, cooperative institutions, and lending agencies involved in agricultural financing.
Published: Jan 03 2026, 7 pmeznews.inIn a significant milestone for Meghalaya, the Northeast Frontier Railway (NFR) announced the state's first-ever full freight rake loading, involving 42 covered wagons of coal dispatched from Mendipathar, its only railway head, to Jalalgarh. This operation, conducted last week, follows Mendipathar's entry into the railway freight network with its inaugural unloading on February 4, 2025. Since then, the station has successfully managed 29 mini rakes and six full rakes, equating to 20.5 full rakes in total. Railway officials highlighted that this achievement underscores Mendipathar's capability to handle large-scale freight operations, which are anticipated to enhance the movement of goods and bolster economic activity in the region. The development marks a pivotal step in improving logistics and infrastructure in Meghalaya, promising to support local industries and trade.
Published: Jan 03 2026, 7 pmeznews.inUnion Fertilisers Minister J P Nadda announced on Saturday that the government will tackle issues surrounding balanced fertiliser use and the diversion of fertilisers for non-agricultural purposes, collaborating with various departments. Speaking at a Chintan Shivir in New Delhi, Nadda emphasized Prime Minister Narendra Modi's commitment to prioritising farmers in governance, aiming to enhance their livelihoods. He noted that despite challenges, the department has successfully met farmers' fertiliser needs through record production and imports. Minister of State for Fertilizers Anupriya Patel highlighted the session's goal of generating ideas to help India become a developed nation by 2047. Fertiliser Secretary Rajat Kumar Mishra stated that the interactive nature of the discussions would allow for diverse ideas to be considered. The event, attended by officials, scientists, and industry representatives, focused on topics such as new-age fertilisers, self-sufficiency, and improving the fertiliser ecosystem.
Published: Jan 03 2026, 7 pmeznews.inIndia's stock market showed positive momentum on January 3, 2026, with the SENSEX rising by 573.41 points to close at 85,762.01, while the NIFTY gained 182 points, reaching 26,328.55. In commodities, crude oil prices fell by ₹62 to ₹5,161, and gold decreased by ₹52 to ₹135,752, although silver saw an increase of ₹777, reaching ₹236,650. According to the India Equity Strategy 2026 report by Antique Stock Broking, a revival in capital expenditure (capex) is underway, driven by improving macroeconomic conditions, policy support, and rising private investment. The defence sector is highlighted as a key beneficiary, bolstered by government initiatives and export opportunities. Additionally, industrial manufacturing and construction sectors are expected to thrive as private investment returns, supported by lower interest rates and increased housing demand, benefiting real estate and building material companies.
Published: Jan 03 2026, 5 pmeznews.inIndiGo has significantly enhanced air connectivity in Puducherry, operating 14 flights weekly to Bengaluru and Hyderabad, according to a recent announcement. This development, which marks one year since the airline commenced operations in the Union Territory on December 20, 2024, has facilitated improved access for residents seeking specialized healthcare and higher education. The airline's services have not only addressed the region's limited scheduled air options but also provided seamless onward connectivity for passengers traveling across India and to international destinations. The introduction of regular flights has made air travel more accessible and convenient for residents, students, professionals, and tourists alike, contributing to Puducherry's overall development. IndiGo's commitment to reliable air services has been pivotal in meeting the travel needs of the community, as highlighted in a press release on January 3, 2026.
Published: Jan 03 2026, 4 pmeznews.inC. Murugan, the Deputy Chairman of the Tea Board, announced on Saturday that the Board will implement 100% quality testing of tea imports to combat the influx of cheap, inferior varieties that threaten the domestic industry. Speaking at the Tea Association of India’s biennial meeting, Murugan highlighted the need for infrastructure development to facilitate this testing, which is expected to take 15 to 20 days before seeking legal and ministry approval. He noted that substandard imports from countries like Nepal and Vietnam are particularly damaging, especially to the Darjeeling tea sector. West Bengal Labour Secretary Avanindra Singh echoed these concerns, urging industry stakeholders to acquire closed tea gardens and involve workers in management to foster a sense of ownership. The Tea Development and Promotion Scheme of 2026 has allocated ₹1,500 crore to support the industry, including small tea growers, amidst ongoing challenges such as unpaid wages for workers.
Published: Jan 03 2026, 3 pmeznews.inThe Indian Labour Ministry has announced new draft rules under the Social Security Code 2020, mandating that all eligible gig and platform workers receive an identity card, either digital or physical, containing their personal details. To qualify for social security benefits, workers must meet a 90-day annual work threshold with an aggregator, or 120 days if engaged with multiple aggregators. The Ministry clarified that any day a worker earns income counts towards this threshold. Aggregators are required to electronically update worker details quarterly on a designated government portal, and failure to do so may result in ineligibility for benefits. Additionally, all workers aged 16 and above must register with Aadhaar and other specified documents. Contributions collected will be allocated to a dedicated Social Security Fund for gig workers, with penalties for aggregators who fail to meet payment deadlines. The draft rules are open for stakeholder feedback until January 3, 2026.
Published: Jan 03 2026, 12 pmeznews.inIndia's power sector is at a pivotal moment as it anticipates a recovery in demand by 2026, following a period of stagnation attributed to weak consumption trends. A report by Jefferies highlights that power demand remained flat year-on-year from April to November 2025, largely due to excessive monsoon rainfall impacting residential cooling needs and agricultural irrigation. The firm has revised its demand growth estimate for the 2026 fiscal year down to 2 percent, from an earlier 4 percent projection, although a medium-term rebound to 5-6 percent is expected as weather patterns normalize and industrial activity increases. Meanwhile, the renewable energy sector has also felt the impact, with a slowdown in Power Purchase Agreement (PPA) signings. Despite these challenges, thermal power remains crucial for meeting base load requirements, prompting the Ministry of Power to raise its thermal capacity addition target to 97 GW by 2035.
Published: Jan 03 2026, 10 am
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