Latest News: Union Budget 2026–27 Highlights: New Income Tax Act, 2025 to be effective from April 2026; simplified tax rules and forms will be notified soon * Safe harbor limit for IT services raised from ₹300 crore to ₹2000 crore * Foreign cloud service providers granted a tax holiday until 2047 * All non-residents paying tax on an estimated basis exempted from Minimum Alternate Tax * Securities Transaction Tax on futures trading increased from 0.02% to 0.05% * Customs duty exemption extended for capital goods used in lithium-ion battery cell manufacturing * Customs duty exemption granted for capital goods required in processing critical minerals * Tariff rate on goods imported for personal use reduced from 20% to 10% * Basic customs duty exemption extended to 17 medicines and drugs * BioPharma Shakti program with an outlay of ₹10,000 crore to build an ecosystem for domestic production of biologics and biosimilars * Proposal for a ₹10,000 crore SME Development Fund to support MSMEs * Public capital expenditure increased from ₹11.2 lakh crore to ₹12.2 lakh crore in FY 2026–27 * Seven high-speed rail corridors to be developed as Growth Transport Links for sustainable passenger systems * Indian Institute of Design Technology, Mumbai to set up AVGC content creation labs in 15,000 high schools and 500 colleges * A girls’ hostel to be built in every district to address challenges faced by female students in higher education and STEM institutions * In partnership with IIMs, a 12-week hybrid training program will upgrade skills of 10,000 guides across 20 tourist destinations * ICAR packages on agricultural portals and practices to be integrated with AI systems as a multilingual AI tool * Tax on foreign travel packages reduced from current five per cent and 20% to two per cent * Customs bonded warehouse framework revamped into an operator-centric system with self-declaration, electronic monitoring, and risk-based accounting * Indian share markets will be open for trading on Sunday, February 01, as the Union Budget is being presented on that day * Key Highlights of Economic Survey 2025–26: GDP & GVA Growth Estimates for FY 2026: First advance estimates at 7.4% and 7.3% respectively * India’s Core Growth Projection: Around 7%, with real GDP growth for FY 2027 expected between 6.8% and 7.2% * Central Government Revenue: Rose to 11.6% of GDP in FY 2025 * Non-Performing Assets: Declined to a multi-decade low of 2.2% * PMJDY Accounts: Over 552 million bank accounts opened by March 2025; 366 million in rural and semi-urban areas * Investor Base: Surpassed 120 million by September 2025, with women comprising ~25% * Global Trade Share: India’s export share doubled from 1% in 2005 to 1.8% in 2024 * Services Export: Reached an all-time high of $387.6 billion in FY 2025, up 13.6% * Global Deposits: India became the largest recipient in FY 2025 with $135.4 billion * Foreign Exchange Reserves: Hit $701.4 billion on January 16, 2026—covering 11 months of imports and 94% of external debt * Inflation: Averaged 1.7% from April to December 2025 * Foodgrain Production: Reached 357.73 million metric tons in 2024–25, up 25.43 MMT from the previous year * PM-Kisan Scheme: Over ₹4.09 lakh crore disbursed to eligible farmers since inception * Rural Employment Alignment: “Viksit Bharat – Jee Ram Ji” initiative launched to replace MGNREGA in the vision for a developed India by 2047 * Manufacturing Growth: 7.72% in Q1 and 9.13% in Q2 of FY 2026 * PLI Scheme Impact: ₹2 lakh crore in actual investment across 14 sectors; production and sales exceeded ₹18.7 lakh crore; over 1.26 million jobs created by September 2025 * Semiconductor Mission: Domestic capacity boosted with ₹1.6 lakh crore invested across 10 projects * Railway High-Speed Corridor: Expanded from 550 km in FY 2014 to 5,364 km; 3,500 km added in FY 2026 * Civil Aviation: India became the third-largest domestic air travel market; airports increased from 74 in 2014 to 164 in 2025 * DISCOMs Turnaround: Recorded first-ever positive PAT of ₹20,701 crore in FY 2025 * Renewable Energy: India ranked third globally in total renewable and installed solar capacity * Satellite Docking: India became the fourth country to achieve autonomous satellite docking capability * School Enrollment Ratios: Primary – 90.9%, Upper Primary – 90.3%, Secondary – 78.7% * Higher Education Expansion: India now has 23 IITs, 21 IIMs, and 20 AIIMS; international IIT campuses established in Zanzibar and Abu Dhabi * Maternal & Infant Mortality: Declined since 1990, now below global average

 Variety

St. Louis: Wishing family and friends a “Happy New Year” is all well and fine, but if you’re serious about spreading cheer in the New Year, consider passing along more specific advice from a psychologist who studies the science of happiness at Washington University in St. Louis. 

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Evanston: Northwestern University professor Nina Kraus shed light on one of the brain’s most complex tasks -- making sense of sound -- during the recent Falling Walls conference in Berlin.

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It is evident that the seeds of modern concepts of ‘sarvodaya’ and ‘total revolution’ were sowed in Karnataka, during twelfth century itself by the great revolutionary-Basaveshwara. His practical approach and act of establishment of ‘Kalyana Rajya’  (Welfare state) brought a new status and position for all the citizens of the society, irrespective of class, caste creed and sex. Thus the main aim of Vachana (poetry) movement, led by Basaveshwara was welfare of all. He proclaimed this as- “Sakala jeevatmarige lesu” (welfare of all).

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The comprehensive story on the socio-political dimensions of Patel’s life led to speculation that perhaps the person taking over as the first prime minister of independent India would be the “Sardar of Bardoli”, a title given to him by Mahatma Gandhi for successfully championing the cause of the peasants in Gujarat against anti-farmers policies of the British Raj. But, as aptly put by some commentators, Sardar Patel was destined to be the finest prime minister of his time that India never had. (Read in Hindi: भारतीय एकता के सूत्रधार थे सरदार पटेल)

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“We are free people, the white men should not rule over us...” This was not a clarion call from any freedom fighter from the mainland of the country during the long freedom struggle. This was Rani Gaidinliu’s call to the ethnic Naga tribes from remote hills of North Eastern region that too when she was only 13.

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Nashville: Juries in criminal cases typically decide if someone is guilty, then a judge determines a suitable level of punishment. New research confirms that these two separate assessments of guilt and punishment – though related -- are calculated in different parts of the brain. In fact, researchers found that they can disrupt and change one decision without affecting the other.

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