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

Where Hippos rule and we clap like Seals…


Our cynical neighbour Sharmaji was lamenting how the old circus troupes had vanished. “In our days, there was Kamla Circus, Oriental Circus, Gemini, Apollo... Oh, what fun! Clowns, elephants, acrobats!” he sighed. 

Guptaji, never one to miss a metaphor, pounced instantly. 

“Our politics”, he said, “is the grandest circus of them all, loud, chaotic, and gloriously pointless. The ringmasters, dressed in crisp kurtas, crack their rhetorical whips as we clap like obedient seals, convinced that this spectacle is governance. These political hippos have hides thicker than the finance ministry’s red tape. They juggle scams, slogans, and selfies with the swagger of roadside magicians—making grand promises before elections and vanishing afterwards.”

Sharmaji, emboldened, added fuel to the flames. 

“The Left still dances in sepia nostalgia, shouting Garibi Hatao like a vinyl stuck since 1971. Their leaders sip ₹500 cappuccinos in Lutyens’ cafés, tweeting socialism from iPhones assembled by capitalists. One champion of farmers was caught snoozing in Parliament, perhaps dreaming of Marx and organic subsidies in Manali. 

The Right, meanwhile, is busy giving mythology a tech reboot. Ancient India, they claim, had Wi-Fi, nuclear vimanas, and 5G; inflation alone, it seems, is purely modern. They thunder ‘Bharat Mata Ki Jai’ loud enough to drown out inconvenient murmurs about unemployment and vanishing opposition benches.”

Auntie Gyanboti, ever the philosopher, joined in. 

“Regional leaders,” she scoffed, “deserve Oscars for daily melodrama. They fast for ‘state pride’ till dusk and feast on midnight biryani, divine prasad, naturally. Party-hopping has become the new yoga. Every defection is draped in the language of ‘ideological evolution,’ which really means ‘ministerial upgrade.’”

It was my turn to enter the ring. 

“Coalition politics”, I said, “is like a college group project gone wrong, everyone claims credit, no one does the work, and the bridge collapses before the viva. By then, all have resigned ‘on moral grounds’, only to rejoin on ‘public demand.’ Dynasties, of course, keep the family drama alive. From Gandhis to Yadavs, Thackerays to Abdullahs, our democracy runs on family data packs. Youth leaders paraded as reformers think GDP is a clothing brand and GST a new yoga pose.”

Holy Brother Sandy, who’d been listening with monk-like patience, delivered the final act. 

“And then come the elections, the grand finale! The festival of free samosas and fake promises. Leaders vow bullet trains but deliver bullock carts, renaming them Atmanirbhar transport. Voters cheer jingles about Vikas that sound suspiciously like shampoo ads. When the results roll in, every party triumphs, morally, spiritually, or imaginatively. Anchors scream, trolls trend, and we, the ever-cheerful audience, keep clapping. For in the great Indian circus of democracy, politicians crack the jokes, and the people remain the punchline.”