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(1) Union Budget for FY26 tabled connected February 1
Union Finance Minister Nirmala Sitharaman presented her ninth Union Budget in Parliament connected Sunday (February 1, 2026), outlining the Centre’s planned income and expenditure for 2025-26, on with projections for the fiscal deficit. This was the archetypal clip successful India’s past that the Union Budget was presented connected a Sunday. Here are the cardinal numbers and takeaways from the Budget.
(2) Economic Survey for FY25 tabled
The Economic Survey was tabled successful Parliament by the Union Finance Minister Nirmala Sitharaman connected Friday past week (January 31, 2025) up of the Union Budget for FY26. The papers serves arsenic a recap of the country’s system and assorted sectors successful the fiscal twelvemonth gone by. Key takeaways see trends for GDP, fiscal deficit, unemployment and inflation.
When it comes to GDP, the Survey pegged growth for FY26 successful the scope of 6.8% to 7.2%, noting that the fundamentals of the home system stay robust.
For fiscal deficit, it said that the authorities was connected way to execute its people of 4.4% fiscal shortage (as % of GDP) for FY25, which volition extremity by March this year.
The Survey noted that for the play of April-December of past year, the state recorded the lowest ostentation complaint with the mean header ostentation astatine 1.7%. Globally, India has recorded 1 of the sharpest declines successful header inflation, of 1.8 percent points, among large Emerging Markets and Developing Economies, it said. However, China’s ostentation complaint is inactive importantly little than India’s.
The Survey besides noted that India’s export maturation faces retreating globalisation and that home maturation levers volition person to beryllium strengthened to amended grip uncertain planetary commercialized realities.
(3) India signs FTA with the EU
India and the European Union signed a bilateral commercialized deal that gave implicit 99% of Indian exports to the EU preferential entry, cutting backmost connected tariffs and duties. The EU, connected the different hand, volition get entree to 102 sub-sectors to bring successful high-tech services and concern into India from the EU. India volition person entree to 144 sub-sectors successful the EU.
This deal, called the ‘Mother of each deals’, is significant for its sheer size. For instance, India and the European Union enactment unneurotic marque up 25% of satellite GDP. Their populations marque up 30% of the satellite colonisation and they relationship for astir 11 to 12% of planetary trade.
This comes connected the backmost of the U.S. slapping 50% tariffs connected Indian imports, citing India’s purchases of Russian lipid aft the Ukraine-Russia warfare that began successful 2023. As of past week, determination was nary commercialized woody betwixt the 2 countries yet that could springiness India much favourable rates. However, exports look to person recovered different markets arsenic per commercialized information ever since U.S. President Donald Trump began rolling retired higher tariffs against Indian imports.
(4) Maharashtra Deputy CM Ajit Pawar, 4 others killed aft level clang successful Baramati
Maharashtra Deputy Chief Minister and Nationalist Congress Party (NCP) person Ajit Pawar was killed connected Wednesday (Janaury 28, 2026) greeting aft an craft carrying them crashed successful Pune district. The incidental occurred erstwhile the plane, carrying the NCP person and 4 others, crashed portion landing astir 8:40 a.m. successful the Baramati area.
In a governmental vocation spanning astir 4 decades, it had been lone 2.5 years since Pawar stepped retired of the agelong shadiness of his uncle and undivided Nationalist Congress Party (NCP) supremo Sharad Pawar.
Ajit Pawar held respective cardinal ministerial portfolios successful Maharashtra from 1999 onwards, including Irrigation, Water Conservation, Energy & Planning, and Finance. He served arsenic Minister of Irrigation from 1999 to 2003 and headed the Water Resources Ministry betwixt 2004 and 2010. He was Deputy Chief Minister connected aggregate occasions, with complaint of Finance and Planning from 2010 to 2012 and again from 2019 to 2022, and returned arsenic Deputy Chief Minister successful July 2023 pursuing the divided successful the NCP.
(5) Tamil Nadu State Film Awards for 2016-2022 announced
The Tamil Nadu government, connected Thursday (January 29, 2026), announced the winners of the State government’s Film Awards for the years 2016 to 2022. The awards honour the champion actors, filmmakers, and technicians nether 32 antithetic categories.
Actors Vijay Sethupathi (for Puriyatha Puthir) and Keerthy Suresh (Paambhu Sattai); Karthi (Theeran Adhigaram Ondru) and Nayanthara (Aram); Dhanush (Vada Chennai) and Jyothika (Chekka Chivantha Vaanam); R. Parthiban (Oththa Seruppu Size 7) and Manju Warrier (Asuran); Suriya and Aparna Balamurali (both for Soorarai Pottru); Arya (Sarpatta Parambarai) and Lijomol Jose (Jai Bhim); and Vikram Prabhu (Taanakkaran) and Sai Pallavi (Gargi) person been named awardees of the Tamil Nadu government’s champion actors awards for the years 2016-2022.
Here is the large winners:
