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

Essential services provided by the Government to senior citizens


The Umbrella Scheme of Atal Vayo Abhyuday Yojana, being run by the Department of Social Justice and Empowerment, includes components to provide financial security, healthcare, nutrition, shelter, welfare, etc. for senior citizens.

Under one of such components, namely, the Integrated Programme for Senior Citizens, Grant-in-Aid is given to Implementing Agencies for running and maintenance of Senior Citizens' Homes where basic amenities like shelter, food, medical care, entertainment opportunities etc. are provided free of cost to indigent senior citizens.

Under Rashtriya Vayoshri Yojana, assisted living devices are distributed free of cost, in camp mode, to senior citizens belonging to families living below the poverty line or having Rs.15000/- as monthly income and suffering from age-related disabilities.

National Helpline for Senior Citizens (Toll-free No.14567) provides free information, guidance, emotional support and field intervention in cases of abuse and rescues to improve the quality of life of senior citizens. The component namely the Senior-care Ageing Growth Engine aims to encourage youth to think about the problems of the elderly and come out with innovative ideas for the elderly care and promote them into start-ups by providing equity support.

Under the Indira Gandhi National Old Age Pension Scheme of the National Social Assistance Programme, a fully funded Centrally Sponsored Scheme of the Department of Rural Development, monthly pension at the rate of Rs.200/- per month per beneficiary to elderly persons in the age group of 60-79 years belonging to Below Poverty Line households, is being paid. The rate of pension is increased to Rs.500/- per month per beneficiary on reaching the age of 80 years. The States and Union Territories are encouraged to provide top-up amounts of at least an equivalent amount to the assistance provided by the Central Government so that the beneficiaries can get a decent level of assistance.

At present, the States and Union Territories are adding top-up amounts ranging from Rs.50/- to Rs.3000/- per month per beneficiary under the IGNOAPS of NSAP. The assistance under NSAP pension schemes is sanctioned up to the scheme-wise, State and Union Territory-wise cap of beneficiaries under the scheme. The number of beneficiaries under the IGNOAPS in the country is around 2.21 crore and the Scheme has achieved almost 100 per cent saturation in all States and Union Territories. The States have the option to provide pensions from their sources in case there are more eligible beneficiaries over and above the state cap under the NSAP pension schemes.

The Ministry of Health and Family Welfare launched the National Programme for Health Care of the Elderly in the year 2010-11 to provide dedicated healthcare services to senior citizens at various levels of the State Health Care delivery system i.e. at Primary, Secondary and Tertiary health care, including outreach services. The Programme has two components, namely National Health Mission i.e. Primary and Secondary care service delivery through District Hospitals, Community Health Centres, Primary Health Centres, Sub-Centre/Health and Wellness Centres, and Tertiary Component i.e. these services are being provided through Regional Geriatric Centres located at 19 Medical colleges in 18 states of India and two National Centres of Aging one in New Delhi AIIMS and another in Madras Medical College in Chennai. It also includes Research on health issues among senior citizens.

Further, the Government launched Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana to cover 10 crore poor and vulnerable families providing coverage of up to Rs.5 lakh per family per year for secondary and tertiary hospitalization. With the launch of the Ayushman Bharat-PMJAY, the Rashtriya Swasthya Bima Yojana and the Senior Citizen Health Insurance Scheme have been subsumed in it. All enrolled beneficiary families of RSBY and SCHIS are entitled to benefits under the Ayushman Bharat-PMJAY.