Hyderabad, March 20 (SocialNews.XYZ) Telangana Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka on Friday presented a budget of Rs 3.24 lakh crore for 2026-27.

Presenting the third full-fledged budget of the Congress government in the state Assembly, he pegged the revenue and capital expenditure at Rs 2.34 lakh crore and capital expenditure at Rs 47,267 crore respectively.

“For the financial year 2026-27, I propose a total expenditure of Rs 3,24,234 crore, revenue expenditure of Rs 2,34,406 crore, and capital expenditure of Rs 47,267 crore,” he said.

Last year, the finance minister had presented a Rs 3.04 lakh crore budget for 2025-26.

Telangana’s Gross State Domestic Product (GSDP) recorded a growth rate of 10.7 per cent during 2025-26 against the national growth rate of 8 per cent. At current prices, Telangana’s GSDP stands at Rs 17,82,198 crore.

“Telangana’s growth rate is 2.7 per cent higher than the national average growth rate. Likewise, the state’s GSDP accounts for 5.0 per cent of the national GDP, making Telangana a strong growth engine for the country,” he said.

He stated that although India’s growth rate has declined to 8 per cent from 9.8 per cent in 2024-25, Telangana’s GSDP growth rate increased from 10.6 per cent in 2024-25 to 10.7 per cent in 2025-26.

The per capita income of Telangana in 2025-26 was Rs 4,18,931, with a growth rate of 10.2 per cent. “The national per capita income stood at Rs 2,19,575, while the growth rate was only 6.9 per cent. Compared to the national per capita income, Telangana’s per capita income is higher by Rs 1,99,356. That is, it is 1.9 times higher.”

The finance minister revealed that the state has set a great goal of transforming the economy, which is currently at 200 billion US dollars, into a one trillion US dollar economy by 2034 and a three trillion US dollar economy by 2047. To achieve this objective, the government is preparing special sector-wise plans.

He claimed that despite facing many challenges and financial pressures, Telangana is moving rapidly on the path of development, like a phoenix rising again from the ashes. He said the budget has been designed to lead Telangana toward sustainable development by giving priority to farmer welfare, women’s empowerment, employment opportunities for youth, quality education with skills, health, nutritious food for students, and infrastructure development.

Vikramarka said that due to excessive borrowings made beyond limits during the previous government’s tenure, a severe burden was placed on the state economy. To correct this mistake, the loans of Rs 25,612 crore raised by the previous government at high interest rates were restructured at lower interest rates.

“Further, the repayment period was extended, and the principal repayment tenure was lengthened to between 20 and 39 years. Through this debt restructuring, the amount payable from 2025-26 to 2031-32 was reduced from Rs 34,058 crore to Rs 11,915 crore. As a result, the state’s cash outflow has reduced by Rs 22,142 crore, providing liquidity relief.”

Source: IANS

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Ahmedabad, March 9 (SocialNews.XYZ) New Zealand captain Mitchell Santner expressed pride in his team’s journey in the tournament despite their defeat in the final of the T20 World Cup 2026 against co-hosts India, acknowledging that they were outplayed by a strong side in front of a passionate home crowd.

Reflecting on the campaign, Santner praised his players for overcoming challenges and fighting hard at every stage, while also crediting India for their performance and composure under the pressure of playing a home World Cup.

Fast bowling spearhead Jasprit Bumrah picked 4-15 as India became the first team to retain the Men’s T20 World Cup title and win the crown for a record three times after beating New Zealand by 96 runs in front of 86,824 fans at the Narendra Modi Stadium in Ahmedabad on Sunday.

"Proud of the boys to make it this far. Obviously, we had some challenges throughout, but at each stage we put up a good fight. Today, we got outplayed by a great team in front of a great crowd. To see a big sea of blue, obviously India were home favourites. Playing a home World Cup comes with a lot of pressure. But yeah, SKY and the boys should be very, very proud. Different guys stood up at different stages. In the Super Eight and semi-finals, we put up a good fight, but tonight we were obviously outplayed,” said Mitchell Santner after the match

Sanju Samson’s blistering 89 off 46 balls, laced with five fours and eight sixes, powered India to 255/5, the highest total in a T20 World Cup final, before Jasprit and Axar Patel (3-27) ripped through New Zealand’s top order to seal victory. The visitors were dismissed for 159 in 19 overs, with only Tim Seifert offering resistance through a fighting 52.

Samson, in prime form after scores of 97 not out and 89 in his previous innings, shared a 98-run opening stand with Abhishek Sharma (52 off 21 balls) while Ishan Kishan added 54 off 25 deliveries. James Neesham briefly checked the charge with three wickets in an over, but Shivam Dube’s unbeaten 26 off eight balls pushed India past 250.

India’s bowlers then ensured there was no repeat of the semi-final scare against England, reducing New Zealand to 52/3 inside the powerplay. The win broke two hoodoos - India’s first victory over New Zealand in a T20 World Cup and their first ICC white-ball triumph in Ahmedabad after defeats in the 2023 ODI final and earlier in this tournament.

Source: IANS

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New Delhi, March 8 (SocialNews.XYZ) Former Pakistan captain Rashid Latif has weighed in on the high-stakes clash between defending champions India and New Zealand and labelled the hosts as the heavy favourites to defend their crown, saying, "ICC events are now part of India’s DNA."

India and New Zealand are set to lock horns in the T20 World Cup final at the Narendra Modi Stadium in Ahmedabad, with India standing on the cusp of a record third title, while New Zealand eyes its maiden crown.

"I think India has the home advantage. ICC events are now part of India’s DNA; they either reach the final or keep winning. This is a big change we’ve seen in the Indian team over the last 4–5 years," Latif told IANS on Sunday.

Both teams enter the final on the back of dominant semifinal performances. India edged out England in a high-scoring thriller by seven runs at the Wankhede Stadium, fuelled by Sanju Samson’s blistering 89 and Jasprit Bumrah’s death-bowling masterclass.

​New Zealand, meanwhile, stunned an undefeated South Africa in Kolkata. Opener Finn Allen etched his name into history with a 33-ball century, the fastest in T20 World Cup history, to chase down 170 in just 12.5 overs.

"New Zealand are definitely a strong team. The way they defeated South Africa in the semifinal in such a one-sided manner was truly remarkable. That match was one of a kind and could easily be considered among the best matches in history. It’s not something we get to see very often. India are the favourites, but New Zealand also has the ability to fight back. However, they might struggle to match India’s firepower," he added.

Latif observed that the crucial window between the 16th and 18th overs has been the "turning point" in recent matches, where India’s ability to restrict runs has outclassed their rivals, highlighting a stark contrast between India and South Africa, England, and New Zealand, pointing to India’s superior "finishing" with the ball.

"In my opinion, the real difference lies in the death overs. South Africa, New Zealand, and England were missing strong death-over bowling, but India has that strength. Arshdeep has developed a lot now; he has been given consistent chances so that he can bowl two overs in the death. In the previous matches, the overs between 16 and 18 were where the game really changed because of the bowling," he said.

Latif concluded that if Abhishek Sharma and Ishan Kishan find their spark in Ahmedabad, New Zealand’s disciplined bowling unit might be overwhelmed. However, should the openers fail again, the pressure will fall squarely on the shoulders of the death bowlers to bail the hosts out once more.

"New Zealand have been playing well throughout the tournament. They have lost two matches, but in T20 cricket, their team should have a strong top three, and New Zealand’s top three is among the best. India also have a very good top three.

"Sanju Samson has been performing well at the top, but the other two haven’t been scoring the kind of runs expected from them. They are getting runs, but not in the way the team would ideally want. If Ishan and Abhishek perform in the final, it would be outstanding for India," the former cricketer concluded.

Source: IANS

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Gandhinagar, Feb 19 (SocialNews.XYZ) The Gujarat government has set aside Rs 2,000 crore in this year's state Budget to implement region-specific economic master plans for six parts of the state, Minister of State for Higher and Technical Education Trikam Chhanga said on Thursday.

He said that the initiative is aimed at ensuring “holistic and balanced development” based on local needs.

Reacting to the Budget, Chhanga said Economic Master Plans had been prepared for Kutch, South Gujarat, Central Gujarat, North Gujarat, Saurashtra and the coastal region of Saurashtra.

“Projects have been prepared according to the needs of each region, which will promote economic activities, employment generation and investment. A provision of Rs 2,000 crore has been made for this purpose,” he said.

Chhanga said the Budget for 2026-27 makes a record allocation of more than Rs 63,000 crore for education. “Keeping education at the centre of development, the highest-ever historic provision has been made,” he said, adding that greater importance had also been given to the overall development of Kutch.

Among specific measures for Kutch, Rs 230 crore has been allocated for works on the Dudhai Sub-Branch Canal. A further Rs 97 crore has been earmarked for the removal of gando baval (prosopis juliflora) in Kutch and other forest areas, plantation of bamboo and other native trees, and grassland restoration in the Banni grasslands.

Provision has also been made to assist milk producer cooperative unions in Kutch and Saurashtra in developing infrastructure facilities.

Additionally, Rs 28 crore has been allocated for 10 Community Health Centres in Kutch, Valsad, Dang, Narmada and Chhota Udepur districts.

Detailing education initiatives, Chhanga said Rs 400 crore has been provided under the Chief Minister Yuva Swavalamban Yojana to assist more than 90,000 students.

“Sixteen new government colleges will be started, construction works in 20 functional colleges will be undertaken and additional streams will be introduced in eight existing colleges,” he said, referring to the Rs 126 crore provision. Rs 96 crore has been allocated for sports facilities in government colleges and universities.

He added that Rs 80 crore has been set aside for i-Hub in Ahmedabad and its four regional centres, Rs 67 crore for physical and IT infrastructure in government technical institutions, and Rs 51 crore each for two new boys’ hostel blocks and a research park at L.D. College of Engineering in Ahmedabad.

Separately, during the discussion on the Motion of Thanks to the Governor’s Address in the Assembly, Education Minister Pradyuman Vaja said the government was moving forward with an aim of 'development of all'.

He said the annual income limit for post-matric scholarships for Scheduled Tribe and Scheduled Caste students had been increased from Rs 2.50 lakh to Rs six lakh, and that a relief package of more than Rs 11,000 crore had been announced for farmers affected by floods and unseasonal rain.

Source: IANS

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New Delhi, Feb 17 (SocialNews.XYZ) When India takes on South Africa in the Super Eights clash of 2026 Men’s T20 World Cup at the Narendra Modi Stadium in Ahmedabad on February 22, Mariana Morkel may be the most conflicted cricket fan on the planet at that time.

At her home in Pretoria, Mariana will be torn in supporting either South Africa, the country which Albie Morkel represented as a player in one Test, 58 ODIs and 50 T20Is and is now their consultant coach for the ongoing Men’s T20 World Cup or India, where her younger son Morne Morkel, who played for the Proteas in 86 Tests, 117 ODIs and 44 T20Is, serves as their bowling coach.

When asked in the pre-match press conference ahead of their Group D clash against the UAE at the Arun Jaitley Stadium if he’s exchanged coaching notes with Morne, Albie said, “No, we don't talk to each other. I think my mother, she's more worried than us. She doesn't know who to support, India or South Africa.”

With South Africa already through to Super Eights, Morkel declared that the real tournament will begin now, insisting that the Proteas' passage through the group stage was merely the first box to be ticked on what he expects to be a demanding road to winning the title.

“I think the World Cup really starts now, even though we had a tough group. Now you face India, possibly Australia or Zimbabwe and the West Indies in our group. So it's really tough. It's going to be all good games. Yes, there will be more pressure on those games because as you move later towards the playoffs.

“But I feel we've got a very experienced group of bowlers and batting is better so guys that have been exposed to that whether it's an IPL or other leagues or in international cricket is a little bit different. But guys that can handle that pressure - they actually will thrive in those circumstances where there's a bit more pressure on the games - so not too worried,” he added.

The former seam-bowling all-rounder was also careful in not being carried away and thinking that this is the time for the Proteas to go one step further after runners-up finish in 2024. “I don't like to make statements about it. I think we were in a very tough group. That game against Afghanistan still gives me nightmares and it could have gone anyway.

“So now I guess the first box is ticked - getting through to the next stage. To me, the World Cup starts now. Every game will be a tough game, and luckily we'll be in Ahmedabad again where we sort of are used to the conditions now - so, let's see.”

Morkel, who was brought into the Proteas setup specifically for this tournament as a consultant coach, had previously been Namibia’s assistant coach and was even the power-hitting coach for Bangladesh. He described his time so far in the South Africa set-up as a mix of everything.

“It's been an interesting term, a specialist consultant. I had to figure it out myself a little bit. But I guess it's anything it takes to help the team do well in the World Cup. So do a bit of both, batting, and fielding, mostly focus around the bowling for now and do some work with the lower order batters, around their swing and stuff like that,” he said.

As a player, Morkel excelled in dealing with pressure situations. But now with him on the other side of the rope, he spoke thoughtfully about his coaching philosophy which has a lot of influence from how Stephen Fleming has coached Chennai Super Kings (CSK) in the IPL. Morkel played for CSK from 2008 to 2013 and won two titles with the franchise.

“Initially when I started my coaching career, you still coach as a player. If you want to make a difference, but you can't be on the field and you have to accept that fact and work out ways because players are under pressure anyway. If you as a coach want to make a difference in their games all the time, that doesn't help anyway.

“So it's sort of finding that middle ground where you try to help, but you're also not, as a coach, put pressure on players as they know what they're doing. If it's real technical things, then you can work at it, but not during tournament.

“My philosophy is once you hit a World Cup like this and you start to tinker with technical stuff, that's when you confuse players or players can get confused. So it's more like how can I actually take pressure off guys, make them believe in themselves, and stuff like that? Stephen has been a big influence on that.

“He's one of the only coaches, or maybe the only coach in the world who's been at a franchise for 17 years. That's unheard of and it must mean he does something right. I'll certainly learn a lot from him, yes,” he concluded.

Source: IANS

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Kolkata, Feb 16 (SocialNews.XYZ) England captain Harry Brook admitted his side had yet to hit peak form despite securing qualification for the Super 8s with a hard-fought win over Italy in their ICC Men’s T20 World Cup Group C clash at the Eden Gardens.

“We haven't played our best cricket, but at the end of the day, we've made it through, and we're heading to the next round, so we can be happy about that,” Brook said during the post-match presentation.

England posted 202/7 after being put in to bat, with Will Jacks anchoring the innings with a composed half-century. However, Brook acknowledged that England’s batting unit had not been as consistent as they would have liked throughout the group stage.

“Yeah, it's been a little bit of a trend so far in the competition. We haven't managed to string along the scores that we'd like to do as a batting unit, but that's part of T20 cricket,” he said.

Highlighting the format's unpredictability, Brook stressed the need for continued intent, saying, “It's a fickle game. One day you can smack a hundred, and the next day you can get out first ball. We've just got to keep on being brave and taking our options up.”

England’s bowlers were tested by a spirited Italy chase, but Brook credited his team’s composure and fielding standards for ensuring they held their nerve. He reserved special praise for England’s death bowling, particularly Sam Curran, whose timely breakthroughs helped seal the victory.

“We fielded excellently. We bowled nicely as well, and I never really had any doubt there at the end with Sammy and Jamie over the principle the last couple of overs. He (Sam) was awesome. He has been throughout the tournament so far, and we've managed to scrape through, but there've been some good performances, especially from him and Will Jack, who has stepped up when we've been in tricky situations. That's really good to see,” he added.

Brook also explained his decision-making in using Jofra Archer aggressively during the powerplay to gain early momentum. Looking ahead to the next phase of the tournament, he emphasised the importance of adapting quickly and improving England’s batting intent.

“When you want something, you want to try and get as much out of it as possible and try and pull a real big dent into the opposition. We've probably played there before. We had a couple of weeks there, so we know what the conditions are like. So we've just got to go back and do what we were doing whilst we were there, which is adapting,” the English skipper said.

He reiterated the need for a more fearless approach with the bat and concluded by expressing hope that England would peak at the right time in the tournament, stating, “But as I said a minute ago, make sure we're being brave with the bat, especially. You've only got 20 overs to bat, and you've got to try and get as many runs as possible. And that's probably been our little downfall in this group stage so far, is that we haven't quite been brave enough and taken our options as much as we felt. Hope that we peak at the right time, as you said, to still get all the way ahead of you.”

Source: IANS

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New Delhi, Feb 15 (SocialNews.XYZ) Placing Micro, Small and Medium Enterprises at the heart of India’s growth strategy, the Union Budget 2026–27 has unveiled a comprehensive plan to help MSMEs scale up, compete globally and integrate deeper into domestic and international markets through financial, policy and professional support, according to the official statement on Sunday.

The Union Budget 2026–27 has underlined the government’s commitment to strengthening Micro, Small and Medium Enterprises as key drivers of economic growth and employment.

MSMEs currently account for around 35.4 per cent of India’s manufacturing output, nearly 48.58 per cent of exports and 31.1 per cent of the country’s GDP.

With more than 7.47 crore enterprises employing over 32.82 crore people, the sector remains the second-largest employer after agriculture.

The Budget outlines three key “Kartavyas” aimed at accelerating growth, fulfilling the aspirations of citizens and building capacities across regions and communities.

Under the first Kartavya, a focused three-pronged strategy has been proposed to help MSMEs grow as champions by providing equity support, improving liquidity and strengthening access to professional expertise.

To boost equity support, the government has announced a dedicated Rs 10,000 crore SME Growth Fund.

The aim is to nurture future champions by incentivising eligible enterprises and supporting their expansion.

In addition, the Self-Reliant India Fund, launched in 2021, will receive an additional Rs 2,000 crore to continue supporting micro enterprises with risk capital.

As of November 30, 2025, the fund has supported 682 MSMEs with investments worth Rs 15,442 crore.

On the liquidity front, the government highlighted that more than ₹7 lakh crore has already been unlocked for MSMEs through the Trade Receivables Discounting System (TReDS).

To further strengthen the platform, it will now be made mandatory for Central Public Sector Enterprises to use TReDS for settling payments to MSMEs.

Credit guarantee support backed by CGTMSE will also be extended for invoice discounting on the platform.

The integration of GeM with TReDS is expected to enable better information-sharing with financiers, ensuring faster and cheaper access to credit.

The government also plans to introduce TReDS receivables as asset-backed securities to deepen the secondary market and improve liquidity.

Source: IANS

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Mumbai, Feb 14 (SocialNews.XYZ) The tax holiday for foreign cloud service providers aims to “provide investment certainty, anchor high-value digital infrastructure within the country, and strengthen India’s role in global digital value chains,” the government said on Saturday.

The Government has announced a tax holiday till 2047 in Budget 2026-27 for eligible foreign cloud service providers operating through India-based data centre infrastructure. Such companies’ income will be exempt from Indian taxation from tax year 2026–27 till 2046–47 subject to conditions.

"The proposed tax framework extending to 2047 provides long-term policy visibility for such capital-intensive investments. The tax holiday for foreign cloud providers complements broader other Budget 2026–27-led initiatives, including India Semiconductor Mission 2.0 and enhanced allocation for the Electronics Components Manufacturing Scheme," an official statement said.

Together, these initiatives address different layers of the technology value chain, from semiconductor design and materials to electronics components, IT services and digital infrastructure.

Investments of nearly $70 billion are already underway in India’s data centre sector, with an additional $90 billion in announced projects, highlighting the scale of expansion, the statement said.

Industry estimates indicated that India’s cloud data centre capacity has reached around 1,280 MW and is projected to grow four to five times by 2030.

Amidst intensifying global competition for AI infrastructure, the policy positions India as a credible and long-term destination for cloud and data centre investment, it added.

United Nations Conference on Trade and Development (UNCTAD) estimates suggested that data centres accounted for over one fifth of global greenfield project values in 2025, with announced investments exceeding $270 billion. Rapid growth in AI compute demand and data-intensive digital services is intensifying international competition to attract such infrastructure.

The Budget also announced the launch of India Semiconductor Mission 2.0 with a provision of Rs 1,000 crore, to focus on design and manufacturing of semiconductor equipment in India as well as components manufacturing useful for semiconductor production. The scheme has received 149 applications, exceeded earlier expectations and reflected strong industry participation.

The Budget also proposed a common safe harbour margin of 15.5 percent for IT services, one of India’s largest export sectors, with exports exceeding $220 billion.

—IANS

aar/pk

Source: IANS

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New Delhi, Feb 14 (SocialNews.XYZ) In a major step to strengthen cancer care in India, the government has announced the setting up of Day Care Cancer Centres (DCCCs) in district hospitals across the country over the next three years, according to the official statement.

The decision was announced in the Union Budget 2025-26, with 200 centres planned to be established during 2025-26 itself.

The move aims to bring chemotherapy services closer to patients’ homes and reduce the pressure on big tertiary hospitals.

Cancer treatment usually requires multiple hospital visits over several months. Patients must undergo regular chemotherapy cycles and follow-ups for effective results.

For many people, especially those living in rural areas or from economically weaker sections, travelling frequently to city-based tertiary hospitals is both physically exhausting and financially stressful.

Costs related to travel, stay, food and loss of daily wages add to the burden. Patients undergoing chemotherapy are often weak and need a caregiver to accompany them, which further increases expenses and income loss for families.

By offering chemotherapy at district hospitals, the new centres are expected to significantly reduce travel distance and indirect costs. This will help families save money and reduce disruption to their daily lives.

Before approving the new centres, the government conducted a detailed gap analysis in consultation with states and Union Territories.

The selection of districts was based on cancer burden, patient load and availability of infrastructure.

The programme has also focused on training and capacity building. Medical officers and nurses from selected districts underwent four to six weeks of hands-on training at mentor institutes such as government medical colleges, regional cancer centres and State Cancer Institutes.

The training covered chemotherapy administration, dose calculation, management of side effects, emergency handling, infection control, safe handling of drugs and patient counselling.

This has helped ensure that district-level centres maintain proper safety and quality standards.

Another key feature of the initiative is the free supply of essential chemotherapy drugs at public health facilities.

Since medicines form a major part of cancer treatment costs, providing them free of charge will reduce out-of-pocket expenditure for patients.

The government has also strengthened procurement and supply systems to ensure regular availability of these medicines.

Source: IANS

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Lucknow, Feb 11 (SocialNews.XYZ) Uttar Pradesh Finance Minister Suresh Khanna on Wednesday presented a Rs 9,12,696.35 crore budget for the financial year 2026-27 in the Assembly, an increase of nearly 12.9 per cent over the previous year.

The Budget includes new schemes worth Rs 43,565.33 crore.

The government has placed special emphasis on capital expenditure, fiscal discipline, strengthening law and order, and expanding health and medical infrastructure.

Capital expenditure has been pegged at 19.5 per cent of the total outlay. Education has been allocated 12.4 per cent of the Budget, medical and health services 6 per cent, and agriculture and allied sectors 9 per cent.

In line with the 16th Central Finance Commission’s recommendations, the fiscal deficit for 2026-27 has been capped at 3 per cent of GSDP, a limit that will remain applicable until 2030-31.

Khanna said the government remains committed to prudent financial management. The state’s debt-to-GSDP ratio, which stood at 29.3 per cent in 2016-17, declined to 27.9 per cent in 2019-20. It rose to 33.4 per cent in 2021-22 due to the Covid-19 pandemic, but has since been brought down to below 27 per cent in 2024-25. The target is to reduce it further to 23.1 per cent in 2026-27 and below 20 per cent in the medium term.

Significant provisions have been made to enhance police infrastructure.

Compared to 2016, incidents of robbery, loot, murder, riots and kidnapping for ransom have reportedly declined by 89 per cent, 85 per cent, 47 per cent, 70 per cent and 62 per cent, respectively. A reduction has also been recorded in crimes against women and atrocities against the Scheduled Castes and the Scheduled Tribes.

The Budget earmarks Rs 1,374 crore for the construction of non-residential police buildings and Rs 1,243 crore for residential facilities. Additionally, Rs 346 crore has been allocated for infrastructure in newly created districts, Rs 200 crore for fire stations, and Rs 190 crore for strengthening firefighting systems in multi-storey buildings. Under Mission Shakti, Rs 25 crore has been allocated for vehicles for female beat officers.

A total of Rs 14,997 crore has been allocated for medical education. Uttar Pradesh currently has 81 medical colleges -- 45 government and 36 private. Medical colleges will be established in 16 underdeveloped districts under the public-private partnership (PPP) model.

MBBS seats have increased from 4,540 in 2017 to 12,800, while postgraduate seats have risen from 1,221 to 4,995. An allocation of Rs 1,023 crore has been proposed for 14 new medical colleges.

The Medical, Health and Family Welfare Department has been allocated Rs 37,956 crore, a 15 per cent increase over last year. Rs 8,641 crore has been earmarked for the National Rural Health Mission and Rs 2,000 crore for the Ayushman Bharat National Health Protection Mission. As many as 49.22 lakh families are benefiting under the Ayushman Bharat - Mukhyamantri Jan Arogya Yojana.

Further, Rs 315 crore has been allocated for the Cancer Institute in Lucknow and Rs 130 crore for free treatment of incurable diseases. The National Mental Health Programme is now operational in all 75 districts, and infectious diseases are being monitored through the Integrated Disease Surveillance Portal.

The state’s GSDP for 2024-25 (Quick Estimates) is projected at Rs 30.25 lakh crore, reflecting a 13.4 per cent growth over the previous year. Per capita income has risen from Rs 54,564 in 2016-17 to Rs 1,09,844, and is estimated to reach Rs 1,20,000 in 2025-26.

The government claims that nearly six crore people have been lifted out of poverty, while the unemployment rate has declined to 2.24 per cent. The state’s per capita income is projected to rise to Rs 1,20,000 in 25-26. Uttar Pradesh’s ranking in the SDG India Index has improved from 29th in 2018-19 to 18th in 2023-24.

The state hosted its fourth Global Investors Summit in February 2024, signing MoUs worth nearly Rs 50 lakh crore with the potential to generate around 10 lakh jobs. Groundbreaking ceremonies have been conducted for over 16,000 projects involving investments of approximately Rs 15 lakh crore.

Uttar Pradesh accounts for 65 per cent of India’s mobile phone production and hosts 55 per cent of the country’s electronic component units. Electronics exports have reached Rs 44,744 crore. The state has achieved “Leader Category” status in the national startup rankings and secured first position among landlocked states in the Export Preparedness Index 2024 released by NITI Aayog.

To boost technology-driven growth, the government has announced a New and Emerging Technologies Mission, along with the establishment of a data authority and eight data centre parks with a total capacity of 900 MW. An AI Mission and the “Tech Yuva Samarth Yuva Yojana” will be launched to provide youth training and opportunities in emerging technologies.

The state leads the country in the production of wheat, paddy, sugarcane, potato and several horticultural crops. Agricultural export hubs will be developed to enhance farmers’ income and connect them to global markets.

The irrigated area has expanded significantly, and crop intensity has increased from 162.7 per cent in 2016-17 to 193.7 per cent in 2024-25. Thermal power generation capacity has increased by over 55 per cent to 9,120 MW in 2025-26 (till December), while 2,815 MW of solar capacity has been installed.

To promote industrial development, Rs 575 crore has been allocated for the new Sardar Vallabhbhai Patel Employment and Industrial Zone scheme. The Chief Minister Youth Self-Employment Scheme will also be launched. Skill development centres will be expanded under the PPP model, with dedicated centres for women.

Source: IANS

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New Delhi, Feb 4 (SocialNews.XYZ) Experts on Wednesday welcomed the United States’ decision to reduce tariffs on Indian imports and exports to 18 per cent, saying the move will strengthen bilateral trade and provide major relief to the textile industry.

Speaking to IANS, agricultural economist Dr R.S. Ghuman said that under the World Trade Organisation (WTO) framework, such high tariffs should ideally not be imposed, as they restrict the potential of bilateral trade.

“With tariffs now reduced to 18 per cent, the decision is expected to significantly benefit import and export activities between the two countries,” he said.

“This step will give fresh momentum to trade and boost overall business activity,” Ghuman told IANS.

Dr Ghuman added that while the move is positive, it will be important to monitor the quality of goods being traded in the future.

He pointed out that dairy and certain agricultural products have been kept out of the current arrangement.

“India is a global leader in rice exports, which is closely linked to the Minimum Support Price (MSP) system,” he highlighted.

“In this context, the decision could also have implications within the broader global trade framework,” he said.

However, even with the current focus on bilateral trade, India stands to gain considerably from the tariff reduction, according to him.

Meanwhile, the textile industry has described the US decision as a major relief. Selvaraj, Secretary General of the Southern India Mills’ Association (SIMA), called the rollback of the earlier 50 per cent punitive tariff to 18 per cent a “lifeline” for the sector.

Selvaraj expressed gratitude to the Prime Minister and the Union Ministers for Commerce and Textiles for their diplomatic efforts, which helped negotiate the reduced 18 per cent tariff rate.

“The new rate is currently the lowest among competing export nations, restoring India’s global competitiveness,” he told IANS.

He also noted that recent trade agreements with the UK and Europe, along with supportive measures announced in the Union Budget 2026–27, have strengthened the industry’s confidence.

Source: IANS

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New Delhi, Feb 4 (SocialNews.XYZ) The Union Budget 2026–27 strengthened medium-term earnings visibility for sectors aligned with public capex and policy priorities, even though earnings recovery will take time, a report said on Wednesday.

The report from small case managers said the Budget opened "actionable opportunities across defence ecosystems, manufacturing‑linked businesses, logistics, select auto and ancillaries, energy‑transition themes and innovation‑led pharmaceuticals."

The report said sharp market reactions came to selective measures such as changes in derivatives taxation and argued that Budget’s deeper signals point to continuity in capital formation, strategic manufacturing and defence‑led expansion.

The investment platform noted the recently announced India–US trade agreement as a positive development, adding that oil and gas, clean technology, nuclear energy, rare earths, data centres and artificial intelligence are top sectors to benefit from the deal.

Divam Sharma, smallcase manager and CEO & co‑founder of Green Portfolio, said many investors are experiencing their "first prolonged phase of weak earnings and subdued sentiment".

"Indian markets are no longer in an ultra-high growth phase. Nominal GDP growth has settled closer to 10 per cent, which is a sign of maturity—not stress,” Sharma said.

Valuation resets and drawdowns, especially in small caps, are consistent with historical market behaviour and should be viewed as part of a longer wealth-creation cycle rather than a breakdown of the India story, Sharma added.

Regarding Budget's sectoral priorities, Shashank Udupa, smallcase Manager and SEBI-registered Research Analyst said, “Budget allocations point to intent, not optics. The sharp increase in defence capital outlay—across land systems, aircraft, engines, heavy vehicles and R&D—clearly shows this is not a one-year push.”

Budget allocations point to "building capability, ecosystems and domestic scale," Udupa added.

He also pointed to higher spending on pharmaceuticals, biopharma research, chemical parks and coal gasification as evidence that the government is addressing both innovation and energy security.

The report flagged that renewed interest in gold, shortages in critical metals and persistent commodity inflation suggest global markets are entering a new structural phase, rather than just another short-term market cycle.

Source: IANS

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New Delhi, Feb 4 (SocialNews.XYZ) As the Union Budget announced tax holiday for data and cloud centre companies, Finance Ministry sources on Wednesday clarified four essential conditions for foreign firms to meet to become applicable for the exemption.

The exemption is available from tax year 2026-27 onwards till tax year 2046-47, to "a foreign company which provides cloud services globally including in India," sources said.

Four essential conditions must be satisfied by the foreign company to qualify for the exemption.

The foreign company must be notified and the data centre company in India from which data centre services are taken must be an Indian company, they said.

Other conditions include, "The data centre must be notified by MeiTY and the services from the foreign company to Indian users must be provided through an Indian reseller entity, being an Indian company."

"The exemption provides certainty to foreign companies who are in the business of providing cloud services and procure services from a data centre in India. There will not be any risk for such foreign companies of their global income being taxed in India on this account," according to the sources.

The profits on the income from domestic economic activities such as data centre services to the global entity by the resident data centre; and resale of cloud services to Indian customers by the resident reseller entity, will remain taxable as any other domestic company, according to the sources.

However, a safe harbour margin of 15 per cent is provided in case the Indian data centre is a related entity of foreign company (cost plus centre).

The treatment of foreign cloud services entity remains same regardless of the data centre being Indian-owned or a subsidiary of the global entity, maintaining a level playing field, they added.

Indian data centres can now confidently offer their services to such global cloud entities, without the latter perceiving any tax risk on account of using Indian data centres.

The move is aimed at developing critical infrastructure and boosting investment in data centres.

—IANS

aar/na

Source: IANS

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New Delhi, Feb 4 (SocialNews.XYZ) The Union Budget 2026–27 prioritised durable growth, fiscal prudence and execution certainty over short‑term market appeasement, a report said on Wednesday.

The report from PL Wealth, the wealth management arm of PL Capital, said the medium‑term outlook remains constructive for infrastructure, capital goods, defence, logistics, manufacturing and select export‑oriented sectors such as engineering goods, textiles and gems and jewellery.

The equities may see near‑term sectoral rotation as investors respond to domestic policy priorities and improved clarity from the India–US trade deal, the report noted.

Regarding fixed income instruments, the firm said bond markets may face near‑term yield pressures from elevated supply and global rate uncertainty. Over the medium term, higher yields enhance forward return potential, particularly for high-quality bonds.

The wealth management firm said infrastructure assets, including InvITs and REITs, private credit and select private equity themes could be used as diversification tools amid equity volatility and bond repricing.

Regarding the budget, the report maintained that elevated borrowing and liquidity adjustments could create intermittent volatility across asset classes, but these should be viewed as transitional effects rather than signals of macro stress.

For long-term investors, the Budget reinforces confidence in India’s medium-term growth trajectory, underpinned by sustained public investment, manufacturing depth, services expansion and institutional continuity, it added.

“In this environment, a disciplined approach to asset allocation, prudent duration management and selective exposure to structural growth sectors remains the most effective strategy to compound wealth while navigating near‑term uncertainty,” said Inderbir Singh Jolly, CEO, PL Wealth Management.

The medium-term investment case in markets remains intact anchored in public capex, manufacturing incentives and policy continuity.

The policy stance prioritises durable capital formation, domestic manufacturing and services competitiveness, even as fiscal consolidation proceeds at a calibrated pace. With capital expenditure budgeted at Rs 12.2 lakh crore up 11.5 per cent YoY and the fiscal deficit set at 4.3 per cent of GDP, the Budget balanced growth support with macro stability, the report noted.

—IANS

aar/na

Source: IANS

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New Delhi, Feb 2 (SocialNews.XYZ) Retired IRS officer and former Assistant Director of the Enforcement Directorate, Anil K. Rawal, on Monday described this year’s Union Budget as a positive and forward-looking policy document that focuses on long-term economic stability rather than short-term market reactions.

Speaking to IANS on the budget, Rawal said people should not judge it based on stock market movements.

"The budget clearly reflects the government’s direction and long-term priorities," Rawal told IANS.

"Earlier budgets were mainly expected to offer tax relief, but over time reforms like GST have already provided such benefits. Now, the focus has shifted to strengthening the country’s economic structure," he added.

Rawal highlighted that India’s economy is growing at a healthy pace and the government’s main goal is to sustain this growth over the next two decades.

He said that after years of heavy infrastructure investment, the current phase is about consolidation and making systems stronger. This will help ensure stable and continuous economic progress.

He also pointed out the significant increase in capital expenditure, which has reached around Rs 12 lakh crore.

"While earlier investments were mostly in road construction, the government is now expanding its focus to logistics, inland waterways, rail corridors, and supply chain improvements," he noted.

Rawal said these steps will reduce costs, boost productivity, and support long-term development.

On fiscal management, Rawal praised the government for keeping the fiscal deficit target at 4.3 per cent. He said maintaining the deficit below 5 per cent shows strong financial discipline. Even in the face of global challenges, he believes the government is in a good position to manage its finances responsibly.

Another major focus of the budget, according to Rawal, is the formalisation of the economy. "By increasing thresholds under schemes like ESI and bringing more workers and businesses into the formal system, the government is reducing leakages and improving compliance," Rawal mentioned.

"This process is gradually integrating small and informal businesses, especially in rural areas, into a structured economic framework," he noted.

Source: IANS

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New Delhi, Feb 2 (SocialNews.XYZ) The All India Institute of Medical Sciences (AIIMS), New Delhi, has received a special allocation in the Union Budget, aimed at strengthening research, innovation and overall development at the country’s premier medical institution.

Highlighting the significance of the allocation, Dr Rima Dada, in charge of the AIIMS Hospital Media Cell, said the enhanced budgetary support will help AIIMS expand its role as a national hub for advanced medical research, innovation and capacity building.

Speaking to IANS, Dr Rima explained that the allocation would be utilised to promote cutting-edge research across multiple medical disciplines, encourage innovation in healthcare delivery, and strengthen developmental initiatives within the institution. She said the focus would be on improving patient outcomes while also advancing scientific knowledge.

“The special allocation in the health budget will provide momentum to research, innovation and development activities at AIIMS. It will help us strengthen existing research programmes and create new opportunities for innovation in the medical field,” Dr Rima said.

She noted that AIIMS has consistently played a leading role in clinical research, translational studies and evidence-based medicine, and the additional support would further enhance its capabilities. According to her, the allocation will also aid in upgrading infrastructure and facilities required for advanced research and academic excellence.

The allocation is also expected to support developmental activities, including strengthening institutional capacity, improving training opportunities for medical professionals and fostering an ecosystem that promotes scientific inquiry and innovation.

Emphasising AIIMS’ national responsibility, Dr Rima said the institution not only provides specialised healthcare services but also contributes significantly to policy-relevant research and medical education. “With this budgetary support, AIIMS will be better positioned to serve patients, train future healthcare leaders and contribute to the advancement of medical science,” she said.

AIIMS, New Delhi, this year received an enhanced allocation of Rs 5,500.92 crore, an increase of 5.85 per cent since last year

The special allocation to AIIMS Delhi reflects the government’s focus on strengthening premier healthcare institutions as part of broader efforts to improve health outcomes, promote innovation and build a robust and resilient healthcare system in the country.

Source: IANS

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New Delhi, Feb 2 (SocialNews.XYZ) Affordable drugs, vaccines and diagnostics, supported by domestic biomanufacturing, would be a major social and economic support, especially for the middle class and vulnerable sections, said Union Minister of State (Independent Charge) for Science and Technology, Dr Jitendra Singh, said on Monday.

Addressing the media in a post-Budget interaction, the minister said it may take time to be fully appreciated, but the Budget reflects a clear, sequential vision where structural reforms are powered by cutting-edge technologies, and cutting-edge technologies are increasingly driven by AI.

Dr Singh addressed concerns regarding benefits for the middle class, stating that the Budget’s true impact lies in long-term relief from rising healthcare and living costs, rather than short-term income calculations.

Large-scale investment in biopharma, diagnostics, vaccines, and gene-based therapies would significantly reduce the financial burden on families dealing with chronic diseases such as cancer, diabetes, and metabolic disorders, he mentioned.

The Minister noted that the country has over 11–12 crore diabetics, nearly 14 crore pre-diabetics, and a rapidly increasing incidence of cancer, with projections touching two million cases annually by 2030.

On the Rs 10,000 crore Biopharma Shakti initiative, Dr Singh said India has already emerged as a global bio-manufacturing hub, ranking among the top bio-economies globally and within the Indo-Pacific region.

He said the new outlay will further strengthen this position by expanding capabilities in biologics, biosimilars, vaccines, medical devices, and gene-based technologies.

The Minister described biotechnology as the next major industrial driver, comparable to the role played by IT in previous decades, and said the upcoming industrial revolution will be a bio-revolution, encompassing recycling, regeneration, circular economy, and advanced life-science innovations.

Dr Singh said the Budget also addresses non-communicable diseases and mental health, areas that were neglected in earlier decades. He announced that new super-speciality academic and clinical institutes for mental health will be established in North India, ensuring wider and more equitable access to care.

The Minister also highlighted the decision to establish new institutes of Ayurveda and pharmaceutical education, saying these initiatives will strengthen traditional medicine systems while integrating them with modern research and healthcare delivery.

Source: IANS

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New Delhi, Feb 2 (SocialNews.XYZ) Robust consumer spending and public investments will maintain India's real GDP growth at 6.7 per cent in fiscal 2027 and 7 per cent in fiscal 2028, S&P Global Ratings said on Monday, adding that the Union Budget reinforces its expectation of gradual fiscal consolidation.

The global ratings anticipates that these growth rates continue to place India above sovereign peers at similar income levels and should continue to support fiscal revenue increase.

The central government is set to meet its fiscal deficit estimate for fiscal 2026 (year ending March 31, 2026) of 4.4 per cent of GDP. It also budgeted for a 4.3 per cent deficit for fiscal 2027.

“These targets are broadly consistent with our projections. We believe India (BBB/Stable/A-2) will hit its fiscal 2027 deficit target despite the government budgeting for lower Goods and Services Tax (GST) receipts, following the streamlining of GST rates in September 2025,” said the report.

“There is upside to GST revenues coming from stronger consumption and higher collection efficiency, in our view. In addition, support for meeting the deficit target will stem from continued large dividends from the central bank and potential capital underspending,” it added.

The lowered GST rates will support middle-class consumption and complement income tax cuts. These changes are likely to make consumption a greater driver of growth compared with investment, both in this fiscal year and the next.

The spike in the effective U.S. tariff is weighing on the expansion of export-oriented manufacturing in India. In response, the fiscal 2027 budget has announced policies to support a manufacturing push and exports.

“If India can secure a trade agreement with the US, it should reduce uncertainty and enhance confidence, which would boost labour-intensive sectors,” the report mentioned.

The government remains focused on investment-led growth. The budget allocation for capital expenditure is 3.1 per cent of GDP, the same in terms of GDP size from a year earlier.

But factoring in related capital spending, like grants to state governments and public enterprises, the total capital outlay will increase to 5.6 per cent of GDP in fiscal 2027, from 5.1 per cent the year before.

“We believe bottlenecks in executing infrastructure projects should ease as supply chain pressures lessen,” it added.

Source: IANS

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New Delhi, Feb 2 (SocialNews.XYZ) The Union Budget 2026-27 sustains reform momentum through a people-centric approach focused on stability, inclusivity, and long-term value creation, Yezdi Nagporewalla, CEO, KPMG in India, said on Monday.

The Budget presents a clear and confident vision of the Government’s commitment to building a developed India, one that effectively balances fiscal responsibility with ongoing investment in growth, resilience, and inclusion.

“Adhering to the fiscal deficit glide path, even amidst global trade and supply-chain challenges, underscores the robustness of India’s macroeconomic fundamentals and policy credibility,” he said in a statement.

Moreover, the emphasis on advancing strategic and emerging sectors, such as ISM 2.0 for semiconductors, a long-term strategy for rare earth ecosystems and tax break for hyperscalers investment in India, reflects a deliberate effort to transform potential into tangible outcomes through resilient, high-value domestic capabilities, Nagporewalla mentioned.

These steps are essential for decreasing import dependence and bolstering India’s role in global value chains, he noted.

Furthermore, the focus on developing ‘Champion MSMEs’ through equity infusions, liquidity support, and professional assistance is highly promising.

The SME growth fund, along with targeted compliance and skill development measures, is poised to help enterprises key to employment generation and regional economic progress—realise their aspirations, he mentioned.

Incentives like the tax holiday for global cloud and data centre services further strengthen India’s position as a reliable digital and technology hub.

Sunil Badala, National Head of Tax, KPMG in India, said the Budget delivers a strong, forward‑looking push for the BFSI sector, indicating the government’s commitment to financial stability, deeper capital markets, and simplified tax administration.

“The proposal to set up a High‑Level Committee on Banking for Viksit Bharat marks a major structural reform, aimed at strengthening governance, enhancing financial resilience, and better aligning credit delivery and inclusion with India’s next phase of economic growth,” Badala added.

Overall, Budget 2026 strengthens governance, deepens markets, and reduces compliance burden-positioning India’s BFSI sector for a more competitive, globally aligned future, he said.

Source: IANS

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Mumbai, Feb 2 (SocialNews.XYZ) India is in a sweet spot today, and the Union Budget for a ‘Future Ready Bharat’ covers a multitude of sectors, both traditional and modern, giving impetus to services with a major focus on tech, Commerce and Industry Minister Piyush Goyal said on Monday.

In a meeting on the holistic benefits of the Budget at the NSE here, along with investors and captains from the mutual funds and asset management industry, the minister said the Budget addresses specific areas which will help the economy grow faster and achieve our goal of a Viksit Bharat by 2047.

“Delighted by their optimism following the budget, their excitement for the growth opportunities that it supports, as well as the new ideas and suggestions that they shared,” Goyal posted on X.

In his interaction, the minister highlighted how in the last 12 years, Prime Minister Narendra Modi-led government has focused on a fiscally prudent and future-oriented long-term India growth story.

“I emphasised how the budget is a blueprint to strengthen India’s presence in global value chains and become more contemporary with modern-day technologies while benefiting our consumers,” said the minister.

He also reiterated that continuing with PM Modi’s vision of rapid reforms, the direction in the budget is to eliminate barriers to business and make it easier for them to flourish, encourage honest businesses, make industries more competitive, compliance easier, and make India an attractive investment and manufacturing destination.

The Union Budget 2026–27 has kept a "long‑term vision at the forefront" by increasing capital expenditure and improving the expenditure mix. The focus is shifting to the long term — with reforms, improving ease of doing business, and inclusive growth getting centre stage. The government has sought to build resilience by focusing on developing the manufacturing and services sectors further, thus setting the stage for the next leg of growth.

Source: IANS

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Shivamogga, Feb 2 (SocialNews.XYZ) Appreciating the Union Budget 2026-27, Karnataka BJP President and MLA B.Y. Vijayendra stated that the budget helps the country to march confidently towards a developed India by 2047 without fear of tariff-trade wars. He also stated that the Centre has increased the state’s tax share.

Speaking to the media here on Monday in Shivamogga, Vijayendra stated that the global situation also needs to be taken into account, adding that despite tariff and trade challenges posed by US President Donald Trump, the Finance Minister has introduced several reforms aligned with Prime Minister Narendra Modi’s vision of steering the country towards becoming a developed India by 2047.

Union Finance Minister Nirmala Sitharaman on Sunday presented her ninth Budget, which has received widespread appreciation across the country for being an excellent one aimed at Aatmanirbhar Bharat.

Vijayendra said the Finance Minister has once again demonstrated a shift from ambiguity to clarity, from extravagance to reform, and reaffirmed that public interest matters more than populism.

He lauded the Budget for prioritising sectors such as industry, tourism, semiconductors, artificial intelligence and agriculture. Emphasising the importance of fiscal discipline, Vijayendra said bringing the fiscal deficit down to 4.4 per cent reflects the Finance Minister’s commitment to sound economic management.

Vijayendra said Karnataka has a large number of coconut growers, as well as cashew, cocoa, fisheries and sandalwood producers, and the Budget provides significant benefits to these sectors, which is highly welcome.

He said that ever since the Siddaramaiah-led Congress government came to power over the past two-and-a-half years, the Centre has been repeatedly criticised without basis.

He said the 16th Finance Commission has announced a 10 per cent improvement based on GDP contribution, resulting in Karnataka’s share of central taxes increasing from 3.65 per cent to 4.13 per cent. This will fetch an additional Rs 7,387 crore to the state every year and Rs 63,050 crore over five years, he said.

Vijayendra said that before 2014, when the UPA government was in power, only about Rs 2 lakh crore was allocated annually for infrastructure development. However, after the NDA government under Prime Minister Narendra Modi assumed office, Rs 12 lakh crore has been allocated for infrastructure. In the Budget presented on Sunday, this has been further increased to Rs 12.2 lakh crore, which he described as a revolutionary decision.

He said higher allocations have been made for roads, railways, ports and airports, which would significantly contribute to putting the country on a fast track to development.

Vijayendra said the Budget has taken a bold step towards doubling farmers’ income by providing a six per cent increase in financial allocation to the food, commerce and fisheries sectors. He said Prime Minister Narendra Modi has consistently emphasised that for the country to develop, priority must be given to the poor, farmers, women and youth.

In line with this vision, the Finance Minister has promoted women entrepreneurship and employment through initiatives such as ‘She Mart’ to help women establish enterprises and come to the forefront of society, he said.

Vijayendra said the Budget has emphasised women’s education by announcing the establishment of a women’s hostel in every district. Treating higher education as a priority sector, the Budget has increased financial support by 13 per cent, which he termed welcome.

He also noted the announcement of high-speed rail corridors, particularly the Hyderabad-Bengaluru and Chennai-Bengaluru routes, which would attract more industries to Bengaluru -- the city that contributes the highest tax revenue. The state BJP chief said the Budget gives priority to youth, women and farmers and was in line with the goal of a developed India.

Source: IANS

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New Delhi, Feb 2 (SocialNews.XYZ) Union Budget 2026–27 kept a "long‑term vision at the forefront" by increasing capital expenditure and improving the expenditure mix, a report said on Monday.

Source: IANS

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New Delhi, Feb 2 (SocialNews.XYZ) Union Finance Minister Nirmala Sitharaman has said India has emerged as one of the biggest drivers of global economic growth, highlighting an International Monetary Fund (IMF) chart shared by billionaire entrepreneur Elon Musk that shows India and China together contributing 43 per cent of worldwide GDP growth.

Speaking to university students in Parliament after presenting the Union Budget 2026–27, Sitharaman referred to a social media post reposted by Musk, which was based on IMF projections.

The chart showed that China contributes 26 per cent and India 17 per cent to global GDP growth, putting the two Asian economies ahead of the United States in driving global expansion.

Addressing the students, the finance minister said many young people actively follow social media and may have seen the post.

FM Sitharaman explained that Musk had reacted to the IMF data with surprise, noting how the balance of global economic power is shifting.

Finance Minister Sitharaman said the figures clearly show India’s rising strength in the global economy.

FM Sitharaman added that India’s Opposition should also recognise the country’s growing economic influence.

While acknowledging that China’s contribution is currently higher, FM Sitharaman said India is steadily closing the gap and expressed confidence in the country’s long-term growth path.

“India should take pride in the fact that it now plays such a significant role in global GDP growth alongside its neighbour,” FM Sitharaman said.

The finance minister stressed that Indians should have confidence in their economy, pointing out that India is now central to global economic expansion.

FM Sitharaman said the country is living through a phase where its growth story is being noticed and discussed worldwide.

Elon Musk had shared the chart, originally posted by World of Statistics, with a comment saying that the global balance of power is changing, drawing wide attention to the IMF data.

Source: IANS

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New Delhi, Feb 2 (SocialNews.XYZ) The Union Budget announcements link health policy with rural livelihoods, export growth, youth employment and entrepreneurship — strengthening India’s emergence as the world capital of evidence-based holistic healthcare, Ayush Minister Prataprao Jadhav said on Monday.

Hailing Budget announcements that significantly strengthen the Ayush ecosystem, he said the measures reflect the government’s unwavering commitment to building a holistic, inclusive, and globally competitive healthcare system where Ayush stands as a vital pillar of integrative health.

Finance Minister Nirmala Sitharaman announced a series of landmark initiatives to expand education, research, quality assurance, global leadership, medical value tourism, and skilled workforce development in Ayush.

According to Jadhav, these measures reinforce India’s aspiration to position traditional medicine as a key driver of preventive healthcare, economic growth, and global leadership in wellness.

There is a proposal to establish three new All India Institutes of Ayurveda (AIIAs) to expand high-quality undergraduate and postgraduate education, advanced research, and tertiary care services.

These institutions are expected to elevate academic standards and strengthen evidence-based integrative care across the country.

The Budget also proposes upgrading Ayush pharmacies and drug testing laboratories to meet higher certification standards.

According to the minister, this move will enhance product quality, consumer confidence, and export readiness while supporting farmers cultivating medicinal plants and MSMEs engaged in processing and manufacturing.

The WHO Global Traditional Medicine Centre at Jamnagar will be upgraded to deepen research collaboration, international training, and policy dialogue—positioning India as the global knowledge hub for traditional medicine.

Moreover, Ayush Centres will form part of five proposed Regional Medical Value Tourism Hubs, creating integrated healthcare destinations that combine advanced medical treatment with traditional therapies, wellness services, and rehabilitation support.

Notably, the inclusion of yoga and wellness competencies within NSQF-aligned caregiver training programmes — targeting 1.5 lakh caregivers in the coming year — further mainstreams Ayush-linked skills within the expanding care economy, strengthening preventive and geriatric care services.

Source: IANS

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New Delhi, Feb 2 (SocialNews.XYZ) Union Budget 2026‑27 marked a “pragmatic approach” with “no fireworks,” laying the groundwork for a stable medium‑term growth environment, without focusing on immediate catalysts for equity markets, a report has said.

Global Brokerage Jefferies India in the report lauded the renewed emphasis on capital expenditure, particularly in defence, which was enabled by slower fiscal consolidation.

The brokerage also welcomed support for data centres and electronics component manufacturing as evidence of the government’s commitment to strengthen the domestic technology and manufacturing ecosystem.

Further, it said the government's strategy is clearly aligned with long‑term export competitiveness, with export boost remaining the focus

Jefferies flagged the higher bond yields as a factor that could weigh on rate‑sensitive sectors. According to the brokerage, the increase in securities transaction tax (STT) signalled the government’s discomfort with elevated derivatives trading volumes, however adding that the outcome could negatively impact capital‑markets stocks and brokerage companies.

The report said the Budget is positive for cement and defence firms because of higher infrastructure capex, and for electronics manufacturers to gain from higher allocations under the electronic manufacturing production linked incentive (PLI) scheme. It also noted potential gains for select realty and digital‑payments stocks due to a data centre-related trigger and incentives for digital payments in the Budget.

The report also highlighted a "large disinvestment budget" adding that the planned divestment of IDBI Bank could be completed in FY27.

Finance Minister Nirmala Sitharaman presented the Budget 2026-27 with total budgeted expenditure at Rs 53.47 lakh crore, with the fiscal deficit targeted at 4.3 per cent of GDP, an improvement from the 4.4 per cent revised estimate for 2025-26.

Capital expenditure rose by 9 per cent to reach Rs 12.2 lakh crore in 2026-27, marking one of the largest such allocations in recent times and equating to 4.4 per cent of GDP.

Among the biggest increases, defence secured Rs 7.85 lakh crore overall, of which Rs 2.31 lakh crore goes towards capital spending.

Source: IANS

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New Delhi, Feb 2 (SocialNews.XYZ) The BJP on Monday strongly defended the Union Budget 2026-27, hitting back at Congress President Mallikarjun Kharge for his sharp criticism of the government’s economic vision.

BJP spokesperson Pratul Shah Deo said the Congress was ignoring fiscal discipline and global economic realities while attacking Prime Minister Narendra Modi’s development agenda.

“Kharge should understand that Prime Minister Modi has a clear vision for Viksit Bharat. When Congress ruled the country for so many years, the fiscal deficit often went out of control, and there was no fiscal discipline. The overall fiscal deficit used to be very high. This time, the fiscal deficit is around 4.3 per cent,” Shah Deo told IANS.

Responding to the Congress chief’s claim that the budget lacked policy direction, Shah Deo said the opposition was selectively overlooking the global economic slowdown. “First of all, one needs to understand that the world is going through an economic slowdown. Almost all major economies across the globe are slowing down, and projections for the next fiscal year also indicate weak global growth. In such a situation, India is emerging as a bright spot and is in a much stronger position,” he said, adding that the budget addresses all key sectors of the economy.

Congress President Mallikarjun Kharge had earlier on Sunday criticised the Union Budget 2026-27, accusing the Narendra Modi-led government of lacking policy vision and failing to offer solutions to pressing socio-economic challenges such as jobs, manufacturing, private investment, infrastructure and social security. He also flagged “tariff risks and slowdown” in exports, alleging that Finance Minister Nirmala Sitharaman offered “no response to export slump, tariff risks, trade deficit and shrinking global share”.

“The Narendra Modi-led Union government has run out of ideas. #Budget2026 does not provide a single solution to India’s many economic, social and political challenges,” Kharge said in a post on X, accusing the government of avoiding structural reforms. He further alleged that the budget reflected a lack of political will to tackle inflation, weak consumer demand and rising debt, while disappointing farmers, the middle class and marginalised sections.

Rejecting these charges, Shah Deo said the Congress was deliberately painting a negative picture despite India’s improving economic fundamentals. He also defended the government’s focus on national security. “It was absolutely necessary to strengthen our defence sector. We recently saw during Operation Sindoor how the Indian Armed Forces displayed their valour and struck inside Pakistan. While we have already given Pakistan a strong response, we must remain fully prepared, as there are two or three countries along our borders with which we have had longstanding hostilities,” he said.

The BJP spokesperson said the Union Budget reflects a balance between fiscal prudence, growth and national security, and accused the Congress of misleading the public for political reasons as the debate over Budget 2026-27 continues to intensify.

Source: IANS

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Mumbai, Feb 2 (SocialNews.XYZ) Lower revenue as a share of GDP has been more than offset by cuts to subsidies and spending on current schemes, leading to the smallest fiscal consolidation in six years, likely positive for growth, a new report has said.

The fiscal consolidation for FY27 is the slowest in six years. And the budgeted disinvestment, which is a below-the-line funding item, is likely to see the highest rise in six years, the report from HSBC Global Investment Research said.

"The central government continues with fiscal consolidation, though signing up for a gentler path for FY27; the fiscal impulse will likely turn neutral after several years in the negative, and this should be good news for GDP growth," the research firm added.

The report said that the services sector was the focus of the Budget, “with ambitious plans and increased outlays for medical institutions, universities, tourism, sports facilities, and the creative economy."

Urban infrastructure saw a renewed push with each City Economic Region (CER) set to receive get Rs 50 billion over 5 years.

Seven new high-speed rail corridors will connect major cities, the report noted, adding large cities will also get an incentive of Rs 1 billion if they issue municipal bonds worth more than Rs 10 billion.

The report highlighted policy priorities, saying, "new manufacturing sectors were given incentives, namely biopharma, semiconductors, electronic components, rare earth corridors, chemical parks, container manufacturing, and high-tech tool rooms."

Direct taxes are expected to grow faster than nominal GDP while indirect taxes will expand more slowly, with gross tax revenues budgeted to rise about 8 per cent year‑on‑year, the report said.

Central government set a fiscal deficit target of 4.3 per cent of GDP for FY27 after a 4.4 per cent estimate for FY26, and nominal GDP growth was pegged at 10 per cent.

—IANS

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Source: IANS

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New Delhi, Feb 2 (SocialNews.XYZ) Congress MP Gurjeet Singh Aujla on Monday criticised the Union Budget 2026, alleging that the government has presented data only for media hype and failed to address key issues affecting the country.

Speaking to IANS, Gurjeet Singh Aujla said that the budget offers no concrete solutions to the growing problem of unemployment.

“In this budget, there is no solution for unemployment. There is no serious discussion on industry or how it will take the country forward. The allocation for health and education is very low. Can the government honestly say that the education system across the country is doing very well? Overall, the government has presented data only to create media hype,” he said.

The Congress MP further claimed that the budget lacks substance and fails to deliver real benefits to the people.

“There is nothing in the Budget in reality. It is an empty budget, and there is nothing for Punjab. Prime Minister Narendra Modi was in Punjab yesterday, but he went empty-handed and returned empty-handed,” Aujla told IANS.

Finance Minister Nirmala Sitharaman presented the Union Budget 2026 on Sunday, marking her ninth consecutive budget presentation. The Finance Minister stated that the Budget was inspired by three ‘kartavyas’ or responsibilities aimed at accelerating and sustaining economic growth by enhancing competitiveness, fulfilling aspirations, and ensuring that every family, community, and region has access to resources and opportunities for participation.

Commenting on Pakistan’s decision to boycott its T20 World Cup match against India, Aujla said that India should take a firm stand.

“I think India should boycott Pakistan first. We keep talking about Operation Sindoor and how it is progressing, yet matches are still being played. If Pakistan is boycotting the match, it shows they have already accepted defeat at the first stage. This decision should now be taken by the BCCI and Jay Shah,” he said.

For the unversed, Pakistan government announced that its national cricket team will participate in T20 World Cup 2026 but will boycott its match against India. Pakistan was scheduled to face Suryakumar Yadav-led Indian team in Colombo on February 15. The decision, announced on Sunday, followed the International Cricket Council’s verdict on Bangladesh’s request to shift its matches out of India, a request that was ultimately rejected by the ICC.

Source: IANS

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New Delhi, Feb 2 (SocialNews.XYZ) The Reserve Bank of India (RBI) is set to hold its monetary policy committee (MPC) meeting from February 4-6 and according to economists, the MPC is expected to vote for a pause on a policy rate cut, while the central bank undertakes direct measures to tackle liquidity, bond stability and currency-related risks.

The Central Bank has already lowered the repo rate by 125 basis points since February 2025 to 5.25 per cent.

“With the government remaining on course its fiscal consolidation path, we don’t expect any material impact on the direction of monetary policy,” said Radhika Rao, Executive Director and Senior Economist at DBS Bank.

The MPC lowered rates in December 2025 but is expected to refrain from cutting rates further in February.

“We expect bond purchases to continue this quarter and in April-June 2026. With the FY27 Budget outlining a record high of borrowings, the central bank might prefer to be agile and nimble its money market related operations and keep borrowing costs in check,” said Radhika Rao, Executive Director and Senior Economist at DBS Bank.

Growth impulse has been firm despite trade tensions, while inflation is off lows. The rupee has continued to be under pressure, depreciating to successive fresh lows. Deposit mobilisation has already been a challenge, said Rao.

Overall, the Union Budget 2026 preserves macroeconomic stability and maintains continuity in policy. Fiscal consolidation will continue, with the centre’s debt-to-GDP ratio projected to decline by around 0.5 per cent and the fiscal deficit expected to narrow to 4.3 per cent of GDP.

The effective revenue and primary deficits stand to consolidate further, said the economist, adding that moreover, lowering rates further could spur further repatriation of rate-sensitive portfolio flows.

The RBO recently announced a series of liquidity-enhancing measures that will pump in more than Rs 2 lakh crore into the banking system to ease liquidity pressure. The Central Bank said it will use a combination of open market bond purchases, a foreign exchange swap, and a variable rate repo operation to ease liquidity conditions in the financial system. The steps are being undertaken following a review of current liquidity and financial conditions.

According to SBI Research, even as the RBI has cut repo rate by 125 basis points and has proactively injected/announced Rs 6.6 lakh crore in the current fiscal as part of open market operations (OMO), yields are refusing to budge down, as such level of liquidity management has resulted in asymmetric transmission across market segments.

“We propose that RBI does OMO in papers that are liquid to make a meaningful impact on yields. For example, the current 10 year paper is 6.48 per cent 2035. The RBI can do OMO in just the preceding 10 year paper, that is 6.33 per cent 2035/immediate outgoing benchmark paper,” said the report.

—IANS

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Source: IANS

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Chennai, Feb 2 (SocialNews.XYZ) Tamil Nadu BJP spokesman and senior leader A.N.S. Prasad said the Union Budget 2026-27 is a powerful reflection of India’s historic economic transformation under the decisive leadership of Prime Minister Narendra Modi, marking the nation’s journey from vulnerability to global leadership.

Recalling the situation in 2013, Prasad said India was then derisively labelled part of the “Fragile Five”, a period marked by policy paralysis, corruption scandals, widening fiscal deficits, and shaken investor confidence under the Congress-UPA regime.

“A decade later, that narrative has been decisively reversed,” he said, noting that India is now firmly positioned among the world’s top five economies, with a clear path to climb further.

Referring to Finance Minister Nirmala Sitharaman’s Union Budget 2026-27, Prasad said the phrase ‘From Fragile Five to Top Five’ aptly captures this turnaround.

Citing the IMF’s World Economic Outlook (October 2025), he pointed out that India’s nominal GDP is projected to reach around $4.51 trillion in 2026, placing it fourth globally.

“India has already overtaken Japan and is on track to surpass Germany, driven by sustained growth of over 6-7 per cent, strong domestic demand, and restored global confidence in India’s economic governance,” he said.

Prasad attributed this rise to a decade of bold reforms under the Modi government, including GST, the Insolvency and Bankruptcy Code, Make in India, Digital India, and Aatmanirbhar Bharat, supported by an unprecedented infrastructure push. These measures, he said, rebuilt economic foundations, strengthened manufacturing, and transformed fragility into resilience.

Highlighting key provisions of the Budget, Prasad said it reflects the essence of the Modi Model -- prioritising growth without imposing new tax burdens on citizens, while maintaining fiscal discipline.

Capital expenditure has been increased to a record Rs 12.2 lakh crore to spur infrastructure, manufacturing, and job creation, even as the fiscal deficit has been reduced to 4.3 per cent of GDP.

He also emphasised the Budget’s strong focus on youth empowerment and the vision of Viksit Bharat@2047, with targeted support for frontier sectors such as semiconductors, electronics, green energy, biopharma, rare earths, and advanced manufacturing clusters.

Continued emphasis on MSMEs, energy security, legacy industries, and sustainable urban development ensures inclusive and balanced growth.

“This Budget is more than a financial document,” Prasad said.

“It is a declaration of India’s confidence and ambition. The Modi-Nirmala partnership has replaced drift with direction and weakness with strength. India is no longer seeking global approval -- it is shaping the future. The journey from Top Five to Top Three has clearly begun,” he said.

Source: IANS

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New Delhi, Feb 2 (SocialNews.XYZ) The government support to new technologies through AI mission, National Quantum Mission, Anusandhan National Research Fund, Research and Innovation Fund promises to be a big boost for the Indian higher education institutions that are nurturing India’s future entrepreneurs, industry leaders said on Monday.

The Union Budget 2026 signals a decisive shift in how India is approaching technology, from adoption to strategic capability building.

“The emphasis on AI, semiconductors, cloud and data infrastructure reflects a clear understanding that leadership in the digital economy is built bottom-up, starting with strong foundations. The strengthening of the India AI Mission provides a coordinated framework to accelerate AI research, deployment and ethical governance across sectors,” said CP Gurnani, Co-Founder and Vice Chairman, AIONOS.

Importantly, this is not a narrow tech agenda. By aligning AI investments with skilling, workforce readiness and MSME enablement, the Budget recognises that scale, inclusion and competitiveness must move together, he mentioned.

The focus on embedding technology in diverse areas is designed to benefit farmers in the field, enhance enrolment of women in STEM and upskill youth keen ready to lap up new opportunities, said Chocko Valliappa, Vice Chairman, Sona College of Technology.

“The allocation of Rs 139,289 crore for the education sector is higher by 14.2 per cent over RE (revised estimate) 2025-26 of Rs 121,949 crore. As per the revised estimate, the actual spend on education was 5 per cent less than the budgeted amount,” he said.

The Budget proposal for creating five University townships near major industrial and logistics corridors hosting multiple universities, colleges, research institutions, skill centres is a welcome step.

“Tamil Nadu, Karnataka and Maharashtra with rich manufacturing industry base and higher education institutions could easily accommodate one such University township,” Valliappa noted.

According to industry experts, the Union Budget sends a clear signal that India’s next phase of growth will be powered by AI-led digital capabilities, large-scale skill transformation, and globally competitive technology services.

“The proposed Education to Employment and Enterprise framework is a timely intervention to bridge the curriculum-industry gap, particularly in emerging areas such as AI, data engineering, and digital platforms, where demand is outpacing talent readiness,” said Sachin Alug, CEO, NLB Services.

The focus on tier 2 and tier 3 regions as Digital Economy Zones strengthens India’s Global Capability Center ecosystem by unlocking new talent pools and enabling distributed, resilient operating models beyond metros, Alug noted.

Equally important is the move to create a unified IT Services framework with clearer tax and safe harbour norms, which provides long-term predictability for enterprises, said experts.

—IANS

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Source: IANS

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Chennai, Feb 2 (SocialNews.XYZ) The Tamil Nadu textile industry, a cornerstone of India’s textile and apparel exports, has broadly welcomed the Union Budget’s thrust on infrastructure, skilling and export facilitation, but has cautioned that retaining the 11 per cent import duty on cotton could dilute the impact of these reforms.

Industry leaders from Tamil Nadu and other major manufacturing hubs say timely access to quality cotton at globally competitive prices is crucial to safeguarding export commitments and sustaining employment across the value chain.

Stakeholders have appreciated initiatives such as the National Fibre Scheme, the establishment of mega textile parks and the rollout of Samarth 2.0 to modernise and upgrade the textile skilling ecosystem. However, they stressed that structural reforms in manufacturing and skilling must be backed by rationalisation of raw material costs if the sector is to remain competitive in global markets.

The Southern India Mills Association chairman, Durai Palanisamy, said removal of the 11 per cent import duty on all varieties of cotton was essential to address shortages of quality cotton and meet export orders.

He pointed out that domestic cotton prices have already risen by around five per cent compared to international prices and are nearly 15 per cent higher than Brazilian cotton.

“This price gap is likely to widen in the coming months and would seriously affect the financial viability of the entire textile value chain,” he said.

Durai highlighted that the textile and apparel sector provides direct employment to nearly 35 million people and accounts for about 75 per cent of India’s total textile and clothing exports, with Tamil Nadu playing a leading role in yarn, fabric and garment production.

He also noted that cotton farmers are adequately protected through the Minimum Support Price, which is nearly 20 per cent higher than international prices. “Imports have never hurt farmers. India can export 30 to 100 lakh bales during the season and import cotton during the off-season, ensuring a balanced, win-win strategy for all stakeholders,” he added.

Echoing these concerns, M Jayapal, chairman of the Recycled Textile Federation, said the continuation of the import duty has restricted access to raw materials at competitive global prices.

He also expressed disappointment over the decision to retain GST on job-work units at 18 per cent instead of reducing it to five per cent, calling it a setback to the entire textile value chain.

Meanwhile, exporters welcomed the budget’s emphasis on liquidity and trade facilitation. A. Sakthivel, chairman of the Apparel Export Promotion Council, said customs-related reforms and simplified documentation would reduce transaction costs and improve operational efficiency. He added that aligning these measures with a review of cotton duties would be key to strengthening Tamil Nadu’s and India’s position as reliable global textile sourcing hubs.

Source: IANS

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New Delhi, Feb 2 (SocialNews.XYZ) The Budget for 2026-27 is a significant step toward making India a global hub for innovation and advanced manufacturing with global competitiveness as the lynchpin, says Challa Sreenivasulu Setty, Chairman, State Bank of India.

The Budget maintains policy continuity, tax predictability while attempting a fine balance between rural and urban, legacy and sunrise sectors.

"This year’s Budget has both predictable and futuristic elements. The predictable part is the basic structure which remains focused on emerging and employment generating sectors. Infrastructure sector continues to be an anchor, with increase in proposed investments,” he said in State Bank of India’s ‘Union Budget 2026-27 Analysis Report’.

There are many positives and opportunities for banking sector. Reinventing banking in rapidly changing context and keeping financial markets orderly and stable, thereby aligning with India’s next phase of growth continues to be imperative for the sector, Setty mentioned.

The thrust on sunrise sectors which form the futurist part has announcements on Semiconductors, Data Centres, Carbon Capture Utilisation and Storage and Critical Minerals etc.

“Starting with basic fiscal math, the budgetary allocations are based on the assumption of nominal GDP growth of 10 per cent which appears prudent given the way inflation is panning out. This translates into a fiscal deficit estimated at 4.3 percent of GDP,” he noted.

On the rural and agriculture side, the Budget has made some notable shifts.

“The focus will now be on high value products such as sandalwood, cashews, fisheries though Integrated development of 500 reservoirs, coconut promotion scheme to increase production, rejuvenating old, low-yielding orchards and expand high-density cultivation of walnuts, almonds and pine nuts,” said the SBI Chairman.

There is also focus on expanding the use of AI in agriculture by integrating Agri Stack portals.

Emphasis on services, particularly tourism, orange economy and education are timely and complimentary to both proposed infrastructure expansion, connectivity and digital capex led future growth. High-Powered ‘Education to Employment and Enterprise’ Standing Committee will focus on the services sector as a core driver of Viksit Bharat.

The massive scale of specialised construction requires domestic supply chain of infrastructure equipment. Keeping this in mind, the Budget has proposed domestic manufacturing of high value and technologically advanced Construction and Infrastructure Equipment.

“On the financing side, to further strengthen the confidence of private developers an Infrastructure Risk Guarantee Fund will be set up to provide prudently calibrated partial credit guarantees to lenders,” said Setty.

Accepting the reality of rapidly urbanising India, the Budget has tried to harness the power of urban agglomerations. Towards this end, city economic regions (CER) will be mapped based on their specific growth drivers and an allocation of Rs 5,000 crore per CER over 5 years for implementing development plans.

Setty said that in the sunrise sectors, the Budget has proposed scaling up of current Indian Semiconductor Mission by proposing India Semiconductor Mission (ISM) 2.0 to produce equipment and materials, design full-stack Indian IP, and fortify supply chains.

Keeping in mind the disruption in critical minerals, the existing National Critical Mineral Mission will be complimented by a dedicated Rare Earth Corridors to be established and exemption from BCD for capital goods import.

The people centric initiatives, ease of doing business and living measures which form the softer aspects of the tough decisions identifies the challenges that country faces, he noted.

—IANS

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Source: IANS

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Washington, Feb 2 (SocialNews.XYZ) A US-based disability advocacy non-profit welcomed India’s Union Budget 2026, saying new schemes focused on skills, jobs, and assistive support mark a major step toward empowering persons with disabilities.

The Voice of Specially Abled People (VOSAP) said the budget strengthens efforts to bring Divyangjan into the economic mainstream through targeted programmes and policy support.

“Our long-term roadmap, 'Vision 2047 for Divyangjan,” has received a strong boost with the launch of two new initiatives aimed at economic participation by persons with disabilities,” VOSAP’s founder, Pranav Desai, told IANS.

Vision 2047 of VOSAP aims to ensure that persons with disabilities are fully integrated into India’s long-term growth story, with a focus on dignity, opportunity, and participation.

In her budget, Union Finance Minister Nirmala Sitharaman announced the Divyangjan Kaushal Yojana and the Divyang Sahara Yojana, which focus on skills, employment pathways, and assistive technology, the group said.

“Vision 2047 for Divyangjan receives a strong boost in the Union Budget 2026 with the launch of two new programmes for economic contribution by Specially Abled People,” VOSAP said.

The organisation congratulated Finance Minister Nirmala Sitharaman for introducing what it called timely measures that strengthen skills, employment and access to enabling technologies.

“These steps will help create an inclusive ecosystem for Vision 2047 and Viksit Bharat, where dignity, access and opportunity define progress,” the group said.

Desai said the Divyangjan Kaushal Yojana is expected to focus on skill development and vocational training tailored to the needs of persons with disabilities. The aim is to improve employability and workforce participation.

The Divyang Sahara Yojana is designed to provide structured support systems, including access to assistive devices and technology, he said, adding that this could help persons with disabilities live and work with greater independence.

VOSAP said the two schemes align with the broader goal of Sugamya Bharat, or accessible India. The focus is on reducing barriers related to skills, jobs and technology that often limit opportunity.

The group said effective implementation would be critical to ensure the programmes deliver real benefits on the ground.

VOSAP is a US-based global advocacy platform that works with policymakers, institutions and civil society to advance disability rights, accessibility, and inclusion. It has been active in policy discussions on inclusive infrastructure, equal access and economic participation for persons with disabilities.

India is home to millions of persons with disabilities. Many face persistent challenges in education, employment and access to public spaces.

Source: IANS

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Washington, Feb 2 (SocialNews.XYZ) The union budget sends a clear signal that New Delhi is actively courting global capital, talent, and strategic autonomy, with non-resident Indians placed at the center of that effort, a US-based policy expert said.

Khanderao Kand, Chief of Policy and Strategy at the Foundation for India and Indian Diaspora Studies, told IANS in an interview that the budget reflects strategic confidence at a time of global economic and geopolitical uncertainty.

Responding to a question, Kand said the budget meaningfully enables NRI participation in Indian equities by raising both individual and aggregate investment limits. That move, he said, makes direct market access simpler and more attractive.

Long-standing frictions in NRI property transactions have also been eased, he said. The changes reduce compliance burdens and unlock real estate liquidity for overseas Indians.

Khanderao said these measures together signal a cleaner and more welcoming investment framework for NRIs.

At the same time, he said India is making decisive bets on future growth engines.

He pointed to the IndiaAI push, which allocates Rs 10,000 crore for artificial intelligence, digital infrastructure, data centers, and cloud capacity. He said this positions India as a global AI deployment and scale economy.

Khanderao also highlighted the expansion of Semiconductor Mission 2.0, backed by Rs 40,000 crore in investment. He said the creation of rare earth and critical mineral corridors would strengthen supply-chain resilience in semiconductors, electric vehicles, electronics, and defense manufacturing.

Rising defense outlays to Rs 7.8 lakh crore further accelerate high-tech and strategic defense self-reliance, he said. He added that this could also support India’s emergence as a global defense manufacturing and export player.

Underscoring that the Budget 2026 reflects a confident and forward-looking strategy, Kand said it enables stronger and cleaner investment channels for NRIs while laying the foundations of a technologically advanced and self-reliant India.

Khanderao said a stronger India also aligns with US strategic interests. “As an important strategic global partner of the US, a strong India is better for the US, specifically in counterbalancing China in the Indo-Pacific,” he said.

Source: IANS

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