eznews.in
Lok Sabha Speaker Om Birla announced that the Union Budget for the fiscal year 2026-27 will be presented on Sunday, February 1, marking the first time a budget will be unveiled on a Sunday. Speaking at a press conference ahead of the 28th Conference of Speakers and Presiding Officers of Commonwealth Parliaments in New Delhi, Birla emphasized the importance of maintaining parliamentary decorum, particularly in light of allegations against a Trinamool Congress (TMC) MP for using an e-cigarette in the House. He stated that exemplary punishment could be imposed for such violations, underscoring that no one has the right to undermine the sanctity of Parliament. The budget session will commence on January 28 with President Droupadi Murmu's address, followed by Finance Minister Nirmala Sitharaman presenting the Economic Survey on January 29. The session will conclude on February 13, reconvening on March 9 until April. 
Published: Jan 12 2026, 7 pmeznews.inIndian tea exporters are facing significant challenges as shipments to Iran, a key market for premium orthodox tea, have come to a halt amid a breakdown in communication with local importers. Anish Bhansali, a partner at Bhansali & Co, expressed concern over the situation, noting that all phone lines have been lost, complicating efforts to assess the impact on exports. Iran is currently experiencing widespread anti-government protests, leading to intensified crackdowns and disruptions in internet and telecommunications services. Despite some shipments already en route based on prior contracts, new shipments have been suspended. Experts suggest that while the geopolitical turmoil may intermittently affect exports, Indian tea, particularly Assam orthodox varieties, remains well-integrated into Iranian brands. Overall, India's tea exports are projected to grow in 2025, buoyed by demand from Iran, Iraq, and China, following a total of 256.17 million kilograms exported in 2024.
Published: Jan 12 2026, 9 pmeznews.inThe Indian government has set a foodgrain production target of 171.14 million tonnes (mt) for the rabi season, comprising 119 mt of wheat, 15.86 mt of rice, 16.57 mt of pulses, 3.17 mt of nutri-cereals, 14.5 mt of maize, 2.05 mt of barley, and 15.07 mt of oilseeds, including 13.9 mt of mustard. As of January 9, the total acreage for rabi crops reached 644.29 lakh hectares (lh), marking a 2.8% increase from the previous year. Wheat planting remains stable at 334.17 lh, matching last week's figures, while pulses and oilseeds have also seen increases in acreage. Favourable weather conditions are aiding crop growth, with urea fertilizer being applied to support wheat development. However, jowar acreage has declined by 5.7% compared to last year. The government remains optimistic about achieving a bumper harvest this season.
Published: Jan 12 2026, 8 pmeznews.inNet direct tax collection in India increased by 8.82% to over ₹18.38 lakh crore for the current fiscal year up to January 11, according to the Income Tax Department. Corporate tax collections rose by more than 12% to ₹8.63 lakh crore, while non-corporate tax collections, which encompass taxes from individuals and various entities, reached over ₹9.30 lakh crore, marking a growth of over 6%. However, securities transaction tax collection remained largely unchanged at ₹44,867 crore. Notably, tax refunds fell by 17% to ₹3.12 lakh crore during this period. Looking ahead, the Budget Estimate for Fiscal Year 2025-26 projects corporation tax at ₹10.82 lakh crore, reflecting a 10.4% increase, while total income taxes are estimated at ₹13.60 lakh crore, a 13.1% rise. Deloitte's Rohinton Sidhwa noted that while the growth is promising, it is largely due to reduced refunds, raising questions about the underlying trends.
Published: Jan 12 2026, 8 pmeznews.inIn December 2025, the power sector's share of coal despatch in India fell to 77%, the lowest in over two years, down from a peak of 83% in March 2025. This decline marks the third consecutive month of reduced coal supply to the power sector, which typically consumes more than two-thirds of the country's coal. The total coal offtake reached 90.17 million tonnes, reflecting a year-on-year decrease of over 2.5%. Analysts attribute this downturn to diminished power demand, influenced by early and prolonged monsoon rains that reduced energy needs. Consequently, the forecast for power demand growth in FY26 has been sharply revised down to 1.5-2% from an earlier estimate of 4-4.5%. Additionally, the Indian Energy Exchange reported a significant drop in market prices due to increased supply from hydropower and wind energy. Coal production, however, remains robust, with a record high of 1,082 million tonnes in 2024.
Published: Jan 12 2026, 8 pmeznews.inChana (gram) prices have surged by ₹225-300 in recent weeks, driven by increased festive demand and tightening supplies, edging closer to the minimum support price (MSP) levels. According to Satish Upadhyay, Hon Secretary of the India Pulses and Grains Association, the quality of remaining domestic stocks is poor, prompting a shift in demand towards chana as prices for yellow peas also rise. The IPGA reported that both domestic and imported chana prices have increased for three consecutive weeks, supported by steady demand and low mandi arrivals. However, chana imports from Australia have decreased by approximately 6% this season, as importers anticipate a better domestic crop. Upadhyay noted that prices are expected to remain stable around MSP levels, which is set at ₹5,875 for the 2026-27 marketing season, while average mandi prices were ₹5,417/quintal as of January 10.
Published: Jan 12 2026, 8 pmeznews.inPune-based Two Brothers Organic Farms has made history by becoming the first Indian producer to receive independent Glyphosate Residue-Free certification for its A2 Cultured Ghee. Awarded by DetoxProject.org, a globally recognized third-party organization, the certification confirms the absence of glyphosate residues through stringent laboratory testing. Glyphosate, a widely used herbicide since the 1970s, poses risks not only to crops but also to the entire food chain, affecting soil, water, and animal health. Co-founder Satyajit Hange emphasized the need for greater awareness about chemical usage in food production, stating that the certification aims to shift the conversation from intent to evidence. His brother and co-founder, Ajinkya Hange, echoed this sentiment, advocating for transparency in food safety practices in India, where testing for chemical residues should become standard rather than exceptional.
Published: Jan 12 2026, 8 pmeznews.inKempegowda International Airport in Bengaluru has reported a significant increase in passenger traffic, rising 8% to 43.82 million in calendar year 2025. The airport achieved a record single-day passenger count of 137,317 on November 23, 2025, and air traffic movements peaked at 837 on October 19. International operations were a major contributor to this growth, with daily international departures increasing from 38 to 51, resulting in a 28.7% year-on-year rise in international passenger traffic. By the end of 2025, the airport was connected to 113 destinations, including 79 domestic and 34 international cities. On the cargo front, BLR Airport handled 520,985 tonnes, marking a 5% increase from the previous year, with a peak single-day cargo throughput of 2,207 tonnes on August 7. The airport now connects to 37 cargo destinations through 15 airlines, with key export markets including Chicago and Singapore.
Published: Jan 12 2026, 7 pmeznews.inDuring the key harvesting period from October to December, the average prices of Kharif crops in India fell significantly below their minimum support prices (MSPs), with Jowar (sorghum) priced at ₹3,357 per quintal, 9% lower than MSP, and bajra (millet) at ₹2,318 per quintal, down 16.5%. While paddy prices slightly exceeded MSP at ₹2,407 per quintal, maize farmers faced a stark 30% drop, receiving an average of ₹1,684 per quintal. Pulses also saw steep declines, with moong at ₹6,575 (25% lower) and tur at ₹6,599 (17.5% lower). Despite these low prices impacting the gross value added (GVA) of the agricultural sector, farmers have increased the area under Rabi crops by 3%. The government projects a GVA of ₹25.54 lakh crore for the sector in FY26, reflecting a modest growth rate of 3.1%, attributed to lower crop prices despite record Kharif foodgrain output.
Published: Jan 12 2026, 7 pmeznews.inIndia's growing trend towards nano and micro Global Capability Centres (GCCs) is reshaping the landscape of product engineering and innovation, with these smaller entities expanding at an impressive annual rate of 15-20%, significantly outpacing the overall GCC market growth of 8-10%. Companies are increasingly opting for compact teams of 30-150 highly-skilled professionals focused on specific mandates such as AI engineering and product development, rather than establishing large centres with thousands of employees. This shift is driven by the need for speed and agility in a digital-first environment, as firms recognize the importance of retaining core capabilities in-house. With an estimated 850-900 nano and micro GCCs currently in India, projections suggest this number could rise to 870-920 by the end of 2026, as successful models are replicated across various sectors. The trend indicates a robust future for nano GCCs, with expectations of deeper integration into global operations.
Published: Jan 12 2026, 7 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact