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Indian Finance Minister Nirmala Sitharaman on Saturday (Feb 1), in the Union Budget 2025–26, announced no change in the income tax slabs for salaried individuals. This means that “nil tax” threshold to ₹12 lakh under the new tax regime stays in place.<h2>Income Tax and the Middle Class</h2>Calling the middle class one of the core drivers of India’s growth story, Sitharaman said in her Budget speech: "Democracy, Demography and Demand are the key support pillars in our journey towards Viksit Bharat. The middle class provides strength for India’s growth. This Government, under the leadership of Prime Minister Modi, has always believed in the admirable energy and ability of the middle class in nation-building."Also read | <a href="https://www.wionews.com/india-news/budget-2026-what-changes-for-india-s-taxpayers-from-itr-deadlines-to-penalties-key-takeaways-1769927655268">Budget 2026: What changes for India's taxpayers, from ITR deadlines to penalties</a>She added that the Narendra Modi government, in recognition of this, has sought to "periodically reduce their tax burden". She pointed out that the NDA government has steadily expanded tax relief for this group, and that the “nil tax” slab has increased over the years."Right after 2014, the ‘Nil tax’ slab was raised to 2.5 lakh, which was further raised to 5 lakh in 2019 and to 7 lakh in 2023. This is reflective of our Government’s trust on the middle-class taxpayers. I am now happy to announce that there will be no income tax payable upto income of 12 lakh (i.e. average income of 1 lakh per month, other than special rate income such as capital gains) under the new regime. This limit will be 12.75 lakh for salaried taxpayers, due to the standard deduction of 75,000."Also read | <a href="https://www.wionews.com/india-news/budget-2026-fm-sitharaman-confirms-india-s-new-income-tax-act-to-take-effect-from-this-date-1769928667367">Budget 2026: Sitharaman says new Income Tax law to take effect from THIS date</a><h2>New income tax slabs</h2>Sitharaman announced the following tax slabs, saying the changes would benefit all taxpayers. "Slabs and rates are being changed across the board to benefit all taxpayers. The new structure will substantially reduce the taxes of the middle class and leave more money in their hands, boosting household consumption, savings and investment."Revised tax rate structure as follows:<figure class="table"><table><tbody><tr><td>0-4 Lakh Rupees</td><td>Nil</td></tr><tr><td>4-8 Lakh Rupees</td><td>5 per cent</td></tr><tr><td>8-12 Lakh Rupees</td><td>10 per cent</td></tr><tr><td>12-16 Lakh Rupees</td><td>15 per cent</td></tr><tr><td>16-20 Lakh Rupees</td><td>20 per cent</td></tr><tr><td>20- 24 Lakh Rupees</td><td>25 per cent</td></tr><tr><td>Above 24 Lakh Rupees</td><td>30 per cent</td></tr></tbody></table></figure><a href="https://www.wionews.com/videos/union-budget-2026-focus-on-growth-people-s-aspirations-sabka-saath-sabka-vikas-1769926861323/embed">https://www.wionews.com/videos/union-budget-2026-focus-on-growth-people-s-aspirations-sabka-saath-sabka-vikas-1769926861323/embed</a>&nbsp;

Finance Minister Nirmala Sitharaman kept income tax slabs unchanged in Budget 2025–26, retaining the “nil tax” limit at ₹12 lakh under the new regime. Here's all you need to know.

Indian Finance Minister Nirmala Sitharaman on Saturday (Feb 1), in the Union Budget 2025–26, announced no change in the income tax slabs for salaried individuals. This means that “nil tax” threshold to ₹12 lakh under the new tax regime stays in place. Income Tax and the Middle Class Calling the middle class one of the core drivers of India’s growth story, Sitharaman said in her Budget speech: "Democracy, Demography and Demand are the key support pillars in our journey towards Viksit Bharat. The middle class provides strength for India’s growth. This Government, under the leadership of Prime Minister Modi, has always believed in the admirable energy and ability of the middle class in nation-building." Also read | Budget 2026: What changes for India's taxpayers, from ITR deadlines to penalties She added that the Narendra Modi government, in recognition of this, has sought to "periodically reduce their tax burden". She pointed out that the NDA government has steadily expanded tax relief for this group, and that the “nil tax” slab has increased over the years. "Right after 2014, the ‘Nil tax’ slab was raised to 2.5 lakh, which was further raised to 5 lakh in 2019 and to 7 lakh in 2023. This is reflective of our Government’s trust on the middle-class taxpayers. I am now happy to announce that there will be no income tax payable upto income of 12 lakh (i.e. average income of 1 lakh per month, other than special rate income such as capital gains) under the new regime. This limit will be 12.75 lakh for salaried taxpayers, due to the standard deduction of 75,000." Also read | Budget 2026: Sitharaman says new Income Tax law to take effect from THIS date New income tax slabs Sitharaman announced the following tax slabs, saying the changes would benefit all taxpayers. "Slabs and rates are being changed across the board to benefit all taxpayers. The new structure will substantially reduce the taxes of the middle class and leave more money in their hands, boosting household consumption, savings and investment." Revised tax rate structure as follows: 0-4 Lakh Rupees Nil 4-8 Lakh Rupees 5 per cent 8-12 Lakh Rupees 10 per cent 12-16 Lakh Rupees 15 per cent 16-20 Lakh Rupees 20 per cent 20- 24 Lakh Rupees 25 per cent Above 24 Lakh Rupees 30 per cent https://www.wionews.com/videos/union-budget-2026-focus-on-growth-people-s-aspirations-sabka-saath-sabka-vikas-1769926861323/embed

Finance Minister Nirmala Sitharaman kept income tax slabs unchanged in Budget 2025–26, retaining the “nil tax” limit at ₹12 lakh under the new regime. Here's all you need to know.

What Budget 2026 means for your salary: Is there a change in income tax slabs? All you need to know

Indian Finance Minister presented the Union Budget 2026-27 in the Lok Sabha on Sunday (Feb 1). During the presentation, Nirmala Sitharaman set the fiscal deficit target at 4.3 per cent of GDP for 2026–27, slightly lower than the 4.4 per cent target for 2025–26. She also said that she has fulfilled her commitment made in the year 2021-22 to reduce the fiscal deficit below 4.5% of GDP by 2025-26“I am happy to inform this August House that I have fulfilled my commitment made in 2021-22 to reduce fiscal deficit below 4.5% of GDP by 2025-26,” FM Sitharaman said.She further said, “Since we assumed office 12 years ago, India’s economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation.” She added that India will balance ambition with inclusion going ahead.<h2>What is fiscal deficit?</h2>Fiscal deficit is the difference between the total revenue and total expenditure of the government in a financial year. It indicates how much borrowing is needed by the government to meet its expenses and is expressed as a percentage of GDP to show the level of fiscal discipline in the economy.Fiscal deficit also reflects the government’s financial health and discipline. A manageable deficit helps the government in controlling inflation and keeping borrowing costs low. It also supports the stability of the currency and boosts the confidence of investors. In contrast, an excessive deficit can strain the country’s economy and slow long-term growth.During the Union Budget 2026-27 speech, the finance minister In her speech, Sitharaman also highlighted that the government has Atmanirbharta (self-reliance) as a north star, which has resulted in a high growth rate of 7 per cent.“Since we assumed office 12 years ago, India's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation,” Sitharaman said in her ninth consecutive Union budget presentation in the Parliament.

FM Nirmala Sitharaman presented the Union Budget 2026–27, setting the fiscal deficit at 4.3% of GDP. She said the government met its 2021 pledge on fiscal deficit.

Indian Finance Minister presented the Union Budget 2026-27 in the Lok Sabha on Sunday (Feb 1). During the presentation, Nirmala Sitharaman set the fiscal deficit target at 4.3 per cent of GDP for 2026–27, slightly lower than the 4.4 per cent target for 2025–26. She also said that she has fulfilled her commitment made in the year 2021-22 to reduce the fiscal deficit below 4.5% of GDP by 2025-26 “I am happy to inform this August House that I have fulfilled my commitment made in 2021-22 to reduce fiscal deficit below 4.5% of GDP by 2025-26,” FM Sitharaman said. She further said, “Since we assumed office 12 years ago, India’s economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation.” She added that India will balance ambition with inclusion going ahead. What is fiscal deficit? Fiscal deficit is the difference between the total revenue and total expenditure of the government in a financial year. It indicates how much borrowing is needed by the government to meet its expenses and is expressed as a percentage of GDP to show the level of fiscal discipline in the economy. Fiscal deficit also reflects the government’s financial health and discipline. A manageable deficit helps the government in controlling inflation and keeping borrowing costs low. It also supports the stability of the currency and boosts the confidence of investors. In contrast, an excessive deficit can strain the country’s economy and slow long-term growth. During the Union Budget 2026-27 speech, the finance minister In her speech, Sitharaman also highlighted that the government has Atmanirbharta (self-reliance) as a north star, which has resulted in a high growth rate of 7 per cent. “Since we assumed office 12 years ago, India's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation,” Sitharaman said in her ninth consecutive Union budget presentation in the Parliament.

FM Nirmala Sitharaman presented the Union Budget 2026–27, setting the fiscal deficit at 4.3% of GDP. She said the government met its 2021 pledge on fiscal deficit.

‘I have fulfilled my commitment...’: Indian FM pegs fiscal deficit at 4.3% of GDP for FY2026-27

Finance Minister Nirmala Sitharaman announced in the Union Budget 2026-27 in the Lok Sabha on Sunday (February 1) to set up three new All India Institute of Ayurveda, &nbsp;National Institute of Pharmaceutical Education and Research. The Budget is also expected to reveal measures to sustain growth momentum, maintain fiscal discipline, and contain reforms that could protect the Indian economy from global trade frictions, which include US tariffs.&nbsp;Underlining the economic performance of the NDA government, the Finance Minister stated that the economic trajectory of India since 2014 has been marked by stability, fiscal discipline and sustained growth.&nbsp;"The reform express is well on its way and will maintain its momentum to help us fulfil our duties. Since we assumed office 12 years ago, the country's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation. This is the result of conscious choices we have made even in times of uncertainty and disruptions," said Sitharaman.&nbsp;She stated that by keeping Aatmanirbharta as a core guiding principle, the government has bolstered domestic manufacturing, ensuring energy security and reducing reliance on critical imports. She noted that these initiatives have helped achieve a growth rate of about 7 per cent while driving significant progress in poverty reduction and improving people’s quality of life.&nbsp;"Keeping Aatmanirbharta as a lodestar, we have built domestic manufacturing capacity, energy security and reduced critical import dependencies. Simultaneously, we have ensured that citizens benefit from every action of the Government, undertaking reforms to support employment generation, agricultural productivity, household purchasing power and universal services to people. These measures have delivered a high growth rate of around 7% and helped us make substantial strides in poverty reduction and improvement in the lives of our people," said Sitharaman.<h3>Nirmala Sitharaman's 9th budget</h3>This will be her ninth budget presentation in a row, with the Union Cabinet led by Prime Minister Narendra Modi expected to clear the FY 2026–27 Budget. The Union Budget is now presented on February 1 each year to allow for timely parliamentary approval and smooth rollout at the beginning of the financial year on April 1.&nbsp;Earlier, this was not the practice. Under British rule, the Union Budget was presented on the last working day of February, which often delayed approval of schemes and policies before the new financial year began. As a result, government departments and businesses had limited time to plan or adapt to the changes announced in the Budget.&nbsp;Also read: <a href="https://www.wionews.com/india-news/budget-2026-24-82-crore-indians-escaped-multidimensional-poverty-under-modi-govt-sitharaman-tells-parliament-1769926760965">Budget 2026: 24.82 crore Indians escaped multidimensional poverty under Modi govt, Sitharaman tells Parliament</a>

The Budget is also expected to reveal measures to sustain growth momentum, maintain fiscal discipline, and contain reforms that could protect the Indian economy from global trade frictions, which include US tariffs.

Finance Minister Nirmala Sitharaman announced in the Union Budget 2026-27 in the Lok Sabha on Sunday (February 1) to set up three new All India Institute of Ayurveda, National Institute of Pharmaceutical Education and Research. The Budget is also expected to reveal measures to sustain growth momentum, maintain fiscal discipline, and contain reforms that could protect the Indian economy from global trade frictions, which include US tariffs. Underlining the economic performance of the NDA government, the Finance Minister stated that the economic trajectory of India since 2014 has been marked by stability, fiscal discipline and sustained growth. "The reform express is well on its way and will maintain its momentum to help us fulfil our duties. Since we assumed office 12 years ago, the country's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation. This is the result of conscious choices we have made even in times of uncertainty and disruptions," said Sitharaman. She stated that by keeping Aatmanirbharta as a core guiding principle, the government has bolstered domestic manufacturing, ensuring energy security and reducing reliance on critical imports. She noted that these initiatives have helped achieve a growth rate of about 7 per cent while driving significant progress in poverty reduction and improving people’s quality of life. "Keeping Aatmanirbharta as a lodestar, we have built domestic manufacturing capacity, energy security and reduced critical import dependencies. Simultaneously, we have ensured that citizens benefit from every action of the Government, undertaking reforms to support employment generation, agricultural productivity, household purchasing power and universal services to people. These measures have delivered a high growth rate of around 7% and helped us make substantial strides in poverty reduction and improvement in the lives of our people," said Sitharaman. Nirmala Sitharaman's 9th budget This will be her ninth budget presentation in a row, with the Union Cabinet led by Prime Minister Narendra Modi expected to clear the FY 2026–27 Budget. The Union Budget is now presented on February 1 each year to allow for timely parliamentary approval and smooth rollout at the beginning of the financial year on April 1. Earlier, this was not the practice. Under British rule, the Union Budget was presented on the last working day of February, which often delayed approval of schemes and policies before the new financial year began. As a result, government departments and businesses had limited time to plan or adapt to the changes announced in the Budget. Also read: Budget 2026: 24.82 crore Indians escaped multidimensional poverty under Modi govt, Sitharaman tells Parliament

The Budget is also expected to reveal measures to sustain growth momentum, maintain fiscal discipline, and contain reforms that could protect the Indian economy from global trade frictions, which include US tariffs.

Budget 2026–27: Finance Minister Sitharaman announces 3 new All India Institute of Ayurveda,  Pharmaceutical Education and Research

Finance Minister Nirmala Sitharaman on Sunday (Feb 1) used the Union Budget 2026–27 to roll out a wide set of changes aimed at making India’s tax system simpler, more digital, and less intimidating for ordinary taxpayers. The most immediate change is for small taxpayers seeking lower or nil tax deduction certificates. Sitharaman announced that this will now be handled through a fully automated, rule-based system, removing the need to deal with tax officers altogether.For investors, there is more relief. Depositories will now be allowed to directly collect Form 15G and 15H and forward them to companies, easing compliance for people who hold securities across multiple firms.Also read | <a href="https://www.wionews.com/india-news/what-budget-2026-means-for-your-salary-is-there-a-change-in-income-tax-slabs-all-you-need-to-know-middle-class-union-budget-2026-1769931020866">What Budget 2026 means for your salary: Is there a change in income tax slabs?</a><h2>Longer window to fix mistakes</h2>Taxpayers will also get more breathing room to revise returns. The deadline for revising ITRs has been extended from December 31 to March 31, with a small fee.The filing calendar will now be staggered. Individuals filing ITR-1 and ITR-2 will still follow the July 31 deadline, while non-audit businesses and trusts will be allowed to file till August 31.<h2>Cutting down tax harassment</h2>A major theme of this Budget is reducing litigation. Sitharaman proposed merging assessment and penalty orders into a single decision to avoid multiple proceedings. She also cut the mandatory pre-payment during appeals from 20 per cent to 10 per cent.Also read | <a href="https://www.wionews.com/india-news/budget-2026-fm-sitharaman-confirms-india-s-new-income-tax-act-to-take-effect-from-this-date-1769928667367">Budget 2026: Sitharaman says new Income Tax law to take effect from THIS date</a>Taxpayers will no longer pay interest on penalty amounts while their appeal is pending. "There will be no interest liability on the taxpayer on the penalty amount for the period of appeal before the first appellate authority, irrespective of the outcome of the appeal process," said Sitharaman.In another big change, taxpayers can now update returns even after reassessment starts, by paying an extra 10 per cent tax. The updated return will become the final basis for proceedings. “As an additional measure for reducing litigation, I propose to allow taxpayers to update their returns even after reassessment proceedings have been initiated and an additional 10% tax rate over and above the rate applicable for the relevant year. The assessing officer will use only this updated return in his proceedings.”<a href="https://www.wionews.com/videos/union-budget-2026-focus-on-growth-people-s-aspirations-sabka-saath-sabka-vikas-1769926861323/embed">https://www.wionews.com/videos/union-budget-2026-focus-on-growth-people-s-aspirations-sabka-saath-sabka-vikas-1769926861323/embed</a>&nbsp;

Budget 2026 brings a quieter but important shift in how Indians deal with taxes. FM Nirmala Sitharaman is pushing for fewer human interfaces, longer timelines to fix mistakes, and less litigation. Scroll down to see what actually affects you.

Finance Minister Nirmala Sitharaman on Sunday (Feb 1) used the Union Budget 2026–27 to roll out a wide set of changes aimed at making India’s tax system simpler, more digital, and less intimidating for ordinary taxpayers. The most immediate change is for small taxpayers seeking lower or nil tax deduction certificates. Sitharaman announced that this will now be handled through a fully automated, rule-based system, removing the need to deal with tax officers altogether. For investors, there is more relief. Depositories will now be allowed to directly collect Form 15G and 15H and forward them to companies, easing compliance for people who hold securities across multiple firms. Also read | What Budget 2026 means for your salary: Is there a change in income tax slabs? Longer window to fix mistakes Taxpayers will also get more breathing room to revise returns. The deadline for revising ITRs has been extended from December 31 to March 31, with a small fee. The filing calendar will now be staggered. Individuals filing ITR-1 and ITR-2 will still follow the July 31 deadline, while non-audit businesses and trusts will be allowed to file till August 31. Cutting down tax harassment A major theme of this Budget is reducing litigation. Sitharaman proposed merging assessment and penalty orders into a single decision to avoid multiple proceedings. She also cut the mandatory pre-payment during appeals from 20 per cent to 10 per cent. Also read | Budget 2026: Sitharaman says new Income Tax law to take effect from THIS date Taxpayers will no longer pay interest on penalty amounts while their appeal is pending. "There will be no interest liability on the taxpayer on the penalty amount for the period of appeal before the first appellate authority, irrespective of the outcome of the appeal process," said Sitharaman. In another big change, taxpayers can now update returns even after reassessment starts, by paying an extra 10 per cent tax. The updated return will become the final basis for proceedings. “As an additional measure for reducing litigation, I propose to allow taxpayers to update their returns even after reassessment proceedings have been initiated and an additional 10% tax rate over and above the rate applicable for the relevant year. The assessing officer will use only this updated return in his proceedings.” https://www.wionews.com/videos/union-budget-2026-focus-on-growth-people-s-aspirations-sabka-saath-sabka-vikas-1769926861323/embed

Budget 2026 brings a quieter but important shift in how Indians deal with taxes. FM Nirmala Sitharaman is pushing for fewer human interfaces, longer timelines to fix mistakes, and less litigation. Scroll down to see what actually affects you.

Budget 2026: What changes for India's taxpayers, from ITR deadlines to penalties | Key takeaways

Union Finance Minister Nirmala Sitharaman will present her ninth consecutive budget today. Every year, income tax is hyped in the Union Budget, as it's one of the most important sources of the government's revenue. While taxpayers and the middle class eagerly look for relief, it will directly impact their disposable income and discretionary spending. Since 1962, the old tax regime has been in practice with little bit modification in tax rates, adjusting to growth and inflation. However, since 2020, the Union Government has introduced the optional new tax regime. Taxpayers will be keen on whether the government scraps the old tax regime altogether. Further, the new and simplified Income Tax Act is set to come into effect on April 1, 2026, for easier compliance.&nbsp;Also Read: <a href="https://www.wionews.com/world/gold-silver-flash-crash-explained-record-highs-1769771230629">Gold and silver prices fall after historic rally: What is causing flash crash?</a><h2>Old tax regime vs new tax regime- Which one is better?</h2>Both tax regimes have different slab rates, with modifications in exemptions. The slab rates in the old tax regime are higher, new tax regime has lower and more progressive slabs.Slab rates of the old tax regime&nbsp;

<figure class="table"><table><tbody><tr><td>Income tax slabs</td><td>Income tax rates</td></tr><tr><td>Up to Rs. 2.5 Lakhs</td><td>Nil</td></tr><tr><td>Rs 2.5 Lakhs to Rs 5 Lakhs</td><td>5%&nbsp;</td></tr><tr><td>Rs 5 Lakhs to Rs 10 Lakhs</td><td>20%</td></tr><tr><td>Above Rs 10 Lakhs</td><td>30%</td></tr></tbody></table></figure>

Slab rates of the new tax regime

<figure class="table"><table><tbody><tr><td>Income tax slabs</td><td>Income tax rates</td></tr><tr><td>Up to Rs 4 lakhs</td><td>NIL</td></tr><tr><td>Rs 4 lakhs - Rs 8 lakhs</td><td>5%</td></tr><tr><td>Rs 8 lakhs- Rs 12 lakhs</td><td>10%</td></tr><tr><td>Rs 12 lakhs - Rs 16 lakhs</td><td>15%</td></tr><tr><td>Rs 16 lakhs - Rs 20 lakhs</td><td>20%</td></tr><tr><td>Rs 20 lakhs - Rs 24 lakhs</td><td>25%</td></tr><tr><td>Above Rs. 24 lakhs</td><td>30%</td></tr></tbody></table></figure>

&nbsp;Standard deductionsA person with a salaried income can claim a standard deduction of Rs 50,000 under the old tax regime, compared to the &nbsp;Rs 75,000 standard deduction of the new tax regime.Other exemptions&nbsp;The new tax regime has done away with some of the exemptions and deductions, such as HRA, home loan interest under Section 80 EE, and Section 80EEA, investments under 80C, medical insurance under 80D, and education loan under 80E, etc., that were available under the old tax regime. Some controversial omissions are also there in the new regime, such as disability, charity, and donation to a political party.&nbsp;Which one is better?Each one has its own advantages. However, under the new tax regime, there is a tax-free rebate under section 87A up to Rs 12 lakh, which was Rs 5 lakh under the old tax regime. So, for a salaried employee with minimal deduction, the new tax regime is beneficial. But with a substantial tax-saving investment and claiming major deductions, the old tax regime is better.&nbsp;

Old tax regime or new tax regime? Here’s a detailed comparison of income tax slabs, deductions, exemptions, and which option works better for salaried taxpayers ahead of Budget 2026.

Union Finance Minister Nirmala Sitharaman will present her ninth consecutive budget today. Every year, income tax is hyped in the Union Budget, as it's one of the most important sources of the government's revenue. While taxpayers and the middle class eagerly look for relief, it will directly impact their disposable income and discretionary spending. Since 1962, the old tax regime has been in practice with little bit modification in tax rates, adjusting to growth and inflation. However, since 2020, the Union Government has introduced the optional new tax regime. Taxpayers will be keen on whether the government scraps the old tax regime altogether. Further, the new and simplified Income Tax Act is set to come into effect on April 1, 2026, for easier compliance. Also Read: Gold and silver prices fall after historic rally: What is causing flash crash? Old tax regime vs new tax regime- Which one is better? Both tax regimes have different slab rates, with modifications in exemptions. The slab rates in the old tax regime are higher, new tax regime has lower and more progressive slabs. Slab rates of the old tax regime

Old tax regime or new tax regime? Here’s a detailed comparison of income tax slabs, deductions, exemptions, and which option works better for salaried taxpayers ahead of Budget 2026.

Union Budget 2026: Old tax regime vs new tax regime, which is better for taxpayers?

Indian Union Finance Minister Nirmala Sitharaman, on Sunday (Feb 1), while presenting the Budget 2026-27, revealed that in the past ten years, 24.82 crore people escaped multidimensional poverty in India. Citing NITI Aayog’s discussion paper ‘Multidimensional Poverty in India since 2005-06’, she said this was achieved due to the Prime Minister Narendra Modi-led government's significant initiatives to address all dimensions of poverty between 2013-14 and 2022-23.Also read | <a href="https://www.wionews.com/india-news/budget-2026-27-fm-niramal-sitharaman-highlights-modi-govt-s-reform-express-says-360-reforms-including-gst-rationalisation-rolled-out-1769924406650">Budget 2026-27: FM Sitharaman highlights Modi govt's 'reform express' push</a><h2>Assisting poor and vulnerable groups a priority</h2>Sitharaman said that the “Government has been giving priority to assisting urban poor and vulnerable groups.” She announced that a scheme for socio-economic upliftment of urban workers will be implemented to “help them improve their incomes, have sustainable livelihoods and a better quality of life. ”For the welfare of online platform workers, the Indian Finance Minister announced a social welfare scheme that will “arrange for their identity cards and registration on the e-Shram portal ”. This will enable gig workers to avail of “healthcare under PM Jan Arogya Yojana.”“This measure is likely to assist nearly 1 crore gig-workers,” noted the Indian union minister.Also read | <a href="https://www.wionews.com/photos/beyond-the-budget-story-behind-indian-finance-minister-nirmala-sitharaman-s-iconic-budget-day-sarees-through-the-years-in-pics-1769913382545">What's the story behind FM Nirmala Sitharaman’s iconic Budget Day saree for 2026? Look at her drapes through the years | In Pics</a><h2>What is Multidimensional Poverty?</h2>Rather than measuring poverty solely by income, multidimensional poverty considers the simultaneous non-monetary deprivations affecting health, education, and living standards. This is measured by the Multidimensional Poverty Index (MPI). The MPI is a globally recognised, comprehensive measure that captures poverty in multiple dimensions beyond monetary aspects. Its global methodology is based on the robust Alkire and Foster (AF) method that identifies people as poor based on universally acknowledged metrics designed to assess acute poverty, providing a complementary perspective to conventional monetary poverty measures.&nbsp;<a href="https://www.wionews.com/videos/union-budget-2026-focus-on-growth-people-s-aspirations-sabka-saath-sabka-vikas-1769926861323/embed">https://www.wionews.com/videos/union-budget-2026-focus-on-growth-people-s-aspirations-sabka-saath-sabka-vikas-1769926861323/embed</a>

Budget 2026: 24.82 crore Indians escaped multidimensional poverty under Modi govt, Sitharaman tells Parliament

Indian Union Finance Minister Nirmala Sitharaman, on Sunday (Feb 1), while presenting the Budget 2026-27, revealed that in the past ten years, 24.82 crore people escaped multidimensional poverty in India. Citing NITI Aayog’s discussion paper ‘Multidimensional Poverty in India since 2005-06’, she said this was achieved due to the Prime Minister Narendra Modi-led government's significant initiatives to address all dimensions of poverty between 2013-14 and 2022-23. Also read | Budget 2026-27: FM Sitharaman highlights Modi govt's 'reform express' push Assisting poor and vulnerable groups a priority Sitharaman said that the “Government has been giving priority to assisting urban poor and vulnerable groups.” She announced that a scheme for socio-economic upliftment of urban workers will be implemented to “help them improve their incomes, have sustainable livelihoods and a better quality of life. ” For the welfare of online platform workers, the Indian Finance Minister announced a social welfare scheme that will “arrange for their identity cards and registration on the e-Shram portal ”. This will enable gig workers to avail of “healthcare under PM Jan Arogya Yojana.” “This measure is likely to assist nearly 1 crore gig-workers,” noted the Indian union minister. Also read | What's the story behind FM Nirmala Sitharaman’s iconic Budget Day saree for 2026? Look at her drapes through the years | In Pics What is Multidimensional Poverty? Rather than measuring poverty solely by income, multidimensional poverty considers the simultaneous non-monetary deprivations affecting health, education, and living standards. This is measured by the Multidimensional Poverty Index (MPI). The MPI is a globally recognised, comprehensive measure that captures poverty in multiple dimensions beyond monetary aspects. Its global methodology is based on the robust Alkire and Foster (AF) method that identifies people as poor based on universally acknowledged metrics designed to assess acute poverty, providing a complementary perspective to conventional monetary poverty measures. https://www.wionews.com/videos/union-budget-2026-focus-on-growth-people-s-aspirations-sabka-saath-sabka-vikas-1769926861323/embed

Budget 2026: 24.82 crore Indians escaped multidimensional poverty under Modi govt, Sitharaman tells Parliament

Indian Union Finance Minister Nirmala Sitharaman on Sunday (Feb 1), during the Budget 2026-27 presentation, announced "Bio Pharma Shakti," a scheme which seeks to develop India as a "global bio-pharma manufacturing hub". For this purpose, she announced an outlay of Rs 10,000 crores over the next 5 years.<h2>India to become a bio-pharma manufacturing hub in 5 years</h2>Sitharaman, in her budget speech, announced a groundbreaking scheme titled "Bio Pharma Shakti" which she said will help develop India as a global bio-pharma manufacturing hub. Bio Pharma Shakti is aimed at building at making ecosystem for biopharma and biosimilars, she said.&nbsp;The Indian FM announced a ₹10,000 crores over five years for the scheme. "This will build an ecosystem for domestic productions of biologics and biosimilars," she said.Also read | <a href="https://www.wionews.com/india-news/budget-2026-27-fm-niramal-sitharaman-highlights-modi-govt-s-reform-express-says-360-reforms-including-gst-rationalisation-rolled-out-1769924406650">Budget 2026-27: FM Nirmala Sitharaman highlights Modi govt's reform express,' says 360 reforms including GST rationalisation rolled out</a>Sitharaman noted that based on observation, it can be deduced that India's disease burden is observed to be shifting towards non-communicable diseases like diabetes, cancer and autoimmune diseases. "Biological medicines are key to longevity and quality of life at affordable costs," she noted. Among other announcements, she proposed scaling up manufacturing in strategic and frontier sectors and developing city economic regions.

<blockquote class="twitter-tweet" data-media-max-width="560">VIDEO | Union Budget 2026: Union Finance Minister Nirmala Sitharaman (<a href="https://twitter.com/nsitharaman?ref_src=twsrc%5Etfw">@nsitharaman</a>) said, &quot;India&#39;s disease burden is observed to be shifting towards non-communicable diseases like diabetes, cancer and auto-immune diseases. Biological medicines are key to longevity and quality of… <a href="https://t.co/Q2sR04XEDd">pic.twitter.com/Q2sR04XEDd</a>&mdash; Press Trust of India (@PTI_News) <a href="https://twitter.com/PTI_News/status/2017838493045797103?ref_src=twsrc%5Etfw">February 1, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Also read | <a href="https://www.wionews.com/india-news/budget-2026-fm-sitharaman-confirms-india-s-new-income-tax-act-to-take-effect-from-this-date-1769928667367">Budget 2026: Sitharaman says new Income Tax law to take effect from THIS date</a><h2>Atmarnirbharta in focus</h2>In her initial remarks, Finance Minister Nirmala Sitharaman said that since her government assumed office, the Indian economic trajectory has been marked by fiscal discipline and sustained growth. She stressed that the government led by Prime Minister Narendra Modi has chosen action over ambivalence, and reform over rhetoric, keeping Atmanirbharta or self-reliance as a lodestar. India's real GDP growth for 2026-27 is projected in the range of 6.8-7.2 per cent, reflecting sustained medium-term growth capacity amid a challenging global environment. India's inflation rate hit a record low, with the average headline inflation from April to December 2025 at 1.7%, due to falling food and fuel prices. Moving forward, inflation is expected to remain mild, bolstered by positive supply conditions and the progressive effect of GST rate adjustments.<a href="https://www.wionews.com/videos/union-budget-2026-focus-on-growth-people-s-aspirations-sabka-saath-sabka-vikas-1769926861323/embed">https://www.wionews.com/videos/union-budget-2026-focus-on-growth-people-s-aspirations-sabka-saath-sabka-vikas-1769926861323/embed</a>

Budget 2026: Sitharaman announces ‘Bio Pharma Shakti’ - India’s ambitious plan to dominate next-gen drugs

Indian Union Finance Minister Nirmala Sitharaman on Sunday (Feb 1), during the Budget 2026-27 presentation, announced "Bio Pharma Shakti," a scheme which seeks to develop India as a "global bio-pharma manufacturing hub". For this purpose, she announced an outlay of Rs 10,000 crores over the next 5 years. India to become a bio-pharma manufacturing hub in 5 years Sitharaman, in her budget speech, announced a groundbreaking scheme titled "Bio Pharma Shakti" which she said will help develop India as a global bio-pharma manufacturing hub. Bio Pharma Shakti is aimed at building at making ecosystem for biopharma and biosimilars, she said. The Indian FM announced a ₹10,000 crores over five years for the scheme. "This will build an ecosystem for domestic productions of biologics and biosimilars," she said. Also read | Budget 2026-27: FM Nirmala Sitharaman highlights Modi govt's reform express,' says 360 reforms including GST rationalisation rolled out Sitharaman noted that based on observation, it can be deduced that India's disease burden is observed to be shifting towards non-communicable diseases like diabetes, cancer and autoimmune diseases. "Biological medicines are key to longevity and quality of life at affordable costs," she noted. Among other announcements, she proposed scaling up manufacturing in strategic and frontier sectors and developing city economic regions.

Budget 2026: Sitharaman announces ‘Bio Pharma Shakti’ - India’s ambitious plan to dominate next-gen drugs

Indian Finance Minister presented the Union Budget 2026-27 in the Lok Sabha on Sunday (Feb 1). During the presentation, Nirmala Sitharaman announced the creation of rare earth corridors in four states. In her speech, Sitharaman also highlighted that the government has Atmanirbharta (self-reliance) as a north star, which has resulted in a high growth rate of 7 per cent.<h2>Rare earth corridors</h2>Rare earth corridors will be created in Tamil Nadu, Kerala, Odisha, and Andhra Pradesh, the finance minister said during the annual budget presentation for the year 2026-27 in the Lok Sabha.“A scheme for rare earth permanent magnets was launched in 2025 November. We now propose to support mineral-rich states such as Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish rare earth corridors to promote mining, processing, research and manufacturing,” Sitharaman said.<h2>What are rare earth corridors?</h2>Rare earth elements are a set of critical minerals that play a vital role in modern technologies, including electric vehicles, wind turbines, mobile phones, defence systems, and advanced electronics. Permanent magnets derived from rare earth minerals are particularly crucial for clean energy applications and high-end manufacturing.Also read | <a href="https://www.wionews.com/india-news/live-blog-india-budget-2026-live-updates-1st-february-finance-minister-nirmala-sitharaman-speech-pm-modi-budget-session-railway-income-tax-1769905611902">Union Budget 2026 HIGHLIGHTS: From 5 university townships to Khelo India Mission - FM Nirmala Sitharaman's major proposals</a>The proposed corridors aim to build an integrated network for the mining, processing, and transportation of rare earth minerals across the country. By connecting mineral-rich states, the government plans to strengthen supply chains, reduce costs, and make domestic production more efficient and faster.<h2>Atmanirbharta and Union Budget 2026-27</h2>During the Union Budget 2026-27 speech, the finance minister also stressed the government’s push for Atmanirbharta (self-reliance).“Since we assumed office 12 years ago, India's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation,” Sitharaman said in her ninth consecutive Union budget presentation in the Parliament.Watch | Budget 2026: Historic One-Part Budget: Investors Eye Reforms<a href="https://www.wionews.com/videos/budget-2026-historic-one-part-budget-investors-eye-reforms-1769925951503/embed">https://www.wionews.com/videos/budget-2026-historic-one-part-budget-investors-eye-reforms-1769925951503/embed</a>

During the presentation, Nirmala Sitharaman announced the creation of rare earth corridors in four states.

Indian Finance Minister presented the Union Budget 2026-27 in the Lok Sabha on Sunday (Feb 1). During the presentation, Nirmala Sitharaman announced the creation of rare earth corridors in four states. In her speech, Sitharaman also highlighted that the government has Atmanirbharta (self-reliance) as a north star, which has resulted in a high growth rate of 7 per cent. Rare earth corridors Rare earth corridors will be created in Tamil Nadu, Kerala, Odisha, and Andhra Pradesh, the finance minister said during the annual budget presentation for the year 2026-27 in the Lok Sabha. “A scheme for rare earth permanent magnets was launched in 2025 November. We now propose to support mineral-rich states such as Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish rare earth corridors to promote mining, processing, research and manufacturing,” Sitharaman said. What are rare earth corridors? Rare earth elements are a set of critical minerals that play a vital role in modern technologies, including electric vehicles, wind turbines, mobile phones, defence systems, and advanced electronics. Permanent magnets derived from rare earth minerals are particularly crucial for clean energy applications and high-end manufacturing. Also read | Union Budget 2026 HIGHLIGHTS: From 5 university townships to Khelo India Mission - FM Nirmala Sitharaman's major proposals The proposed corridors aim to build an integrated network for the mining, processing, and transportation of rare earth minerals across the country. By connecting mineral-rich states, the government plans to strengthen supply chains, reduce costs, and make domestic production more efficient and faster. Atmanirbharta and Union Budget 2026-27 During the Union Budget 2026-27 speech, the finance minister also stressed the government’s push for Atmanirbharta (self-reliance). “Since we assumed office 12 years ago, India's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation,” Sitharaman said in her ninth consecutive Union budget presentation in the Parliament. Watch | Budget 2026: Historic One-Part Budget: Investors Eye Reforms https://www.wionews.com/videos/budget-2026-historic-one-part-budget-investors-eye-reforms-1769925951503/embed

During the presentation, Nirmala Sitharaman announced the creation of rare earth corridors in four states.

India Union Budget 2026: FM Sitharaman announces rare earth corridors in THESE states

Gold and silver prices plunged nearly nine per cent each on the Multi-Commodity Exchange on Sunday, marking one of the steepest two-day sell-offs in the history of precious metals. The sharp decline came on Budget day, when possible changes to import duties were being speculated. It left the market participants unsure whether the drop presents a buying opportunity or signals deeper trouble for India's jewellery trade.&nbsp;MCX gold tumbled Rs 13,711 to Rs 1,38,634 per 10 grams, while silver slid Rs 26,273 to Rs 2,65,652 per kg, steeper losses than the six per cent fall seen earlier in the session, as per the media reports.&nbsp;Silver had plunged up to 37 per cent intraday on Friday, while global spot gold sank 12 per cent. Gold’s fall was its worst single-day drop since the early 1980s, and silver recorded its sharpest decline on record.<h3>A wide gap down on MCX as trading resumes</h3>The deeper fall occurred after Indian equities closed for the weekend, prompting a wide gap down on MCX when trading started. In addition, ETFs experienced another round of resets in price after losing fifteen to twenty per cent on Friday. Meanwhile, MCX shares dip to nine per cent as exchange-linked volatility spreads across the market.&nbsp;The crash followed amid speculation by the bullion traders who are watching for a move on import duties on Budget Day. Currently, Gold and silver bars are taxed with about six per cent basic customs duty and three per cent GST, accounting for the total load to nearly nine per cent, marking a lower rate than earlier years when duty stood near fifteen per cent and had propelled large-scale smuggling.&nbsp;Speculation is now focused on whether the Finance Minister will reduce the duty from six per cent to four per cent. If implemented, the move could push domestic gold prices down by Rs 2,000–Rs 3,000 per 10 grams and lower silver prices by around Rs 6,000 per kilogram, assuming global prices stay stable.&nbsp;Also read: <a href="https://www.wionews.com/world/gold-slides-5-from-record-highs-as-china-halts-trading-in-silver-oil-funds-1769773710217">Gold tumbles 5%, extends record-high selloff; China suspends silver, oil fund trading</a>

MCX gold tumbled Rs 13,711 to Rs 1,38,634 per 10 grams, while silver slid Rs 26,273 to Rs 2,65,652 per kg, steeper losses than the six per cent fall seen earlier in the session. Silver had plunged up to 37 per cent intraday on Friday, while global spot gold sank 12 per cent. 

Gold and silver prices plunged nearly nine per cent each on the Multi-Commodity Exchange on Sunday, marking one of the steepest two-day sell-offs in the history of precious metals. The sharp decline came on Budget day, when possible changes to import duties were being speculated. It left the market participants unsure whether the drop presents a buying opportunity or signals deeper trouble for India's jewellery trade. MCX gold tumbled Rs 13,711 to Rs 1,38,634 per 10 grams, while silver slid Rs 26,273 to Rs 2,65,652 per kg, steeper losses than the six per cent fall seen earlier in the session, as per the media reports. Silver had plunged up to 37 per cent intraday on Friday, while global spot gold sank 12 per cent. Gold’s fall was its worst single-day drop since the early 1980s, and silver recorded its sharpest decline on record. A wide gap down on MCX as trading resumes The deeper fall occurred after Indian equities closed for the weekend, prompting a wide gap down on MCX when trading started. In addition, ETFs experienced another round of resets in price after losing fifteen to twenty per cent on Friday. Meanwhile, MCX shares dip to nine per cent as exchange-linked volatility spreads across the market. The crash followed amid speculation by the bullion traders who are watching for a move on import duties on Budget Day. Currently, Gold and silver bars are taxed with about six per cent basic customs duty and three per cent GST, accounting for the total load to nearly nine per cent, marking a lower rate than earlier years when duty stood near fifteen per cent and had propelled large-scale smuggling. Speculation is now focused on whether the Finance Minister will reduce the duty from six per cent to four per cent. If implemented, the move could push domestic gold prices down by Rs 2,000–Rs 3,000 per 10 grams and lower silver prices by around Rs 6,000 per kilogram, assuming global prices stay stable. Also read: Gold tumbles 5%, extends record-high selloff; China suspends silver, oil fund trading

MCX gold tumbled Rs 13,711 to Rs 1,38,634 per 10 grams, while silver slid Rs 26,273 to Rs 2,65,652 per kg, steeper losses than the six per cent fall seen earlier in the session. Silver had plunged up to 37 per cent intraday on Friday, while global spot gold sank 12 per cent.&nbsp;

Gold, Silver crash 9% on Budget Day in one of worst sell-offs ever

US President Donald J Trump on Saturday (Jan 31) stated that India was keen on buying Venezuelan oil, seized by the US in the aftermath of president Nicolas Maduro's capture. In an audio released by the White House, Trump also invited China to "come in and make a great deal on oil". This comes after Trump, over the past weeks, repeatedly slammed New Delhi for buying Russian oil and accused the South Asian nation of funding the Ukraine war. &nbsp;Also read | <a href="https://www.wionews.com/india-news/how-safe-is-the-rupee-from-trump-s-tantrums-economic-survey-2025-26-reveals-risks-1769676289934">How safe is the rupee from Trump's tantrums? Economic Survey 2025-26 reveals risks</a><h2>India to buy Venezuela oil from the US?</h2>Trump, in the statement released on YouTube by White House, claimed that the US and India have already made a "concept of the deal" with India. He claimed that "India is coming in, and they're going to be buying Venezuelan oil as opposed to buying it from Iran."&nbsp;

<blockquote class="twitter-tweet" data-media-max-width="560"><a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | US President Donald J Trump says, &quot;China is welcome to come in and make a great deal on oil... We&#39;ve already made a deal. India is coming in, and they&#39;re going to be buying Venezuelan oil as opposed to buying it from Iran. So, we&#39;ve already made the concept of the… <a href="https://t.co/PlVfDHys9S">pic.twitter.com/PlVfDHys9S</a>&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/2017796982585364601?ref_src=twsrc%5Etfw">February 1, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<h2>What did Trump say about India funding the Ukraine war?</h2>Addressing the United Nations General Assembly (UNGA) in September 2025, Trump had accused China and India of being the "primary funders" of the ongoing Russian war in Ukraine. Trump said that New Delhi and Beijing's continuous purchase of Russian oil is a major factor in the war. The Trump administration has imposed an additional 25 per cent tariff on New Delhi as a penalty for its purchases of Russian oil, taking the total levies imposed on India by the US to 50 per cent, among the highest in the world. Trump, at the time, also demanded that European allies, including NATO countries, immediately stop buying oil from Russia.Also read | <a href="https://www.wionews.com/photos/donald-trump-elon-musk-and-zohran-mamdani-s-mother-mira-nair-big-names-mentioned-in-doj-s-latest-epstein-files-release-in-pictures-1769831510171">Trump, Musk, Gates and more: Big names mentioned in DOJ's latest Epstein files release | In pictures</a>&nbsp;

Donald Trump claimed the US has a “concept of a deal” for India to buy Venezuelan oil seized by Washington instead of importing from Iran. He also invited China to strike a similar deal.

US President Donald J Trump on Saturday (Jan 31) stated that India was keen on buying Venezuelan oil, seized by the US in the aftermath of president Nicolas Maduro's capture. In an audio released by the White House, Trump also invited China to "come in and make a great deal on oil". This comes after Trump, over the past weeks, repeatedly slammed New Delhi for buying Russian oil and accused the South Asian nation of funding the Ukraine war. Also read | How safe is the rupee from Trump's tantrums? Economic Survey 2025-26 reveals risks India to buy Venezuela oil from the US? Trump, in the statement released on YouTube by White House, claimed that the US and India have already made a "concept of the deal" with India. He claimed that "India is coming in, and they're going to be buying Venezuelan oil as opposed to buying it from Iran."

Donald Trump claimed the US has a “concept of a deal” for India to buy Venezuelan oil seized by Washington instead of importing from Iran. He also invited China to strike a similar deal.

Russian oil out? Trump claims India ready to buy seized Venezuelan oil from US

By presenting the Union Budget 2026 on February 1, Finance Minister Nirmala Sitharaman would become the country’s first finance minister to present nine Union Budgets consecutively and the second to present it on a Sunday. Prior to Sitharaman, Yashwant Sinha presented the financial document on February 28, 1999, which was a Sunday. To mark the occasion, the country’s stock markets will also remain open for trading on Sunday, February 1. The special weekend session will let investors respond to policy announcements in real time during market hours.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/ghazni-not-foreign-invader-but-hindustani-looter-says-ex-vp-hamid-ansari-sparks-row-1769785148038">Ghazni ‘not foreign invader, but Hindustani looter,’ says ex-VP Hamid Ansari, sparks row</a>&nbsp;The National Stock Exchange and the Bombay Stock Exchange will conduct a full trading session, making this only the second instance since Independence that equity markets will operate on a Sunday. Generally, the stock and commodity markets are closed on weekends. Previously, markets were open on Saturday during the Union Budget 2025.&nbsp;Both NSE and BSE will follow standard trading timings. The pre-open session will run from 9 am to 9:08 am, followed by normal trading between 9:15 am and 3:30 pm. Trade modifications will be allowed until 4:15 pm.With the Budget speech scheduled for 11 am, markets will remain live while major announcements are made, leading to immediate sector-wise reactions.&nbsp;&nbsp;This will be the third full Budget of the Modi 3.0 government.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/stem-cell-therapy-for-autism-is-unethical-medical-malpractice-supreme-court-1769771630269">‘Stem cell therapy for autism is unethical, medical malpractice,’ says Supreme Court</a><h2>Commodity markets will also remain operational on Sunday&nbsp;</h2>&nbsp;Besides, NSE and BSE, the commodity markets will also remain operational on Sunday. The Multi Commodity Exchange will conduct a special live session, with the pre-open starting at 8:45 am and regular trading from 9 am to 5 pm. Client code modifications will be permitted until 5:15 pm.The National Commodity and Derivatives Exchange will also remain open, with trading scheduled from 10 am to 5 pm.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/world/epstein-files-justice-deptt-releases-over-3-million-pages-says-did-not-protect-trump-1769791027282">Epstein files: Justice Deptt releases final tranche of over 3 million pages, says ‘did not protect Trump’</a><h2>Budget speech timing</h2>&nbsp;The Union Budget 2026 will be presented in Parliament’s Central Hall, with the live telecast of the Budget speech beginning sharply at 11 am. The proceedings will air live on Sansad TV and Doordarshan’s DD National channel. WION will also broadcast the speech live.

The National Stock Exchange and the Bombay Stock Exchange will conduct a full trading session, making this only the second instance since Independence that equity markets will operate on a Sunday. Generally, the stock and commodity markets are closed on weekends.

By presenting the Union Budget 2026 on February 1, Finance Minister Nirmala Sitharaman would become the country’s first finance minister to present nine Union Budgets consecutively and the second to present it on a Sunday. Prior to Sitharaman, Yashwant Sinha presented the financial document on February 28, 1999, which was a Sunday. To mark the occasion, the country’s stock markets will also remain open for trading on Sunday, February 1. The special weekend session will let investors respond to policy announcements in real time during market hours. Also Read: Ghazni ‘not foreign invader, but Hindustani looter,’ says ex-VP Hamid Ansari, sparks row The National Stock Exchange and the Bombay Stock Exchange will conduct a full trading session, making this only the second instance since Independence that equity markets will operate on a Sunday. Generally, the stock and commodity markets are closed on weekends. Previously, markets were open on Saturday during the Union Budget 2025. Both NSE and BSE will follow standard trading timings. The pre-open session will run from 9 am to 9:08 am, followed by normal trading between 9:15 am and 3:30 pm. Trade modifications will be allowed until 4:15 pm. With the Budget speech scheduled for 11 am, markets will remain live while major announcements are made, leading to immediate sector-wise reactions. This will be the third full Budget of the Modi 3.0 government. Also Read: ‘Stem cell therapy for autism is unethical, medical malpractice,’ says Supreme Court Commodity markets will also remain operational on Sunday Besides, NSE and BSE, the commodity markets will also remain operational on Sunday. The Multi Commodity Exchange will conduct a special live session, with the pre-open starting at 8:45 am and regular trading from 9 am to 5 pm. Client code modifications will be permitted until 5:15 pm. The National Commodity and Derivatives Exchange will also remain open, with trading scheduled from 10 am to 5 pm. Also Read: Epstein files: Justice Deptt releases final tranche of over 3 million pages, says ‘did not protect Trump’ Budget speech timing The Union Budget 2026 will be presented in Parliament’s Central Hall, with the live telecast of the Budget speech beginning sharply at 11 am. The proceedings will air live on Sansad TV and Doordarshan’s DD National channel. WION will also broadcast the speech live.

The National Stock Exchange and the Bombay Stock Exchange will conduct a full trading session, making this only the second instance since Independence that equity markets will operate on a Sunday. Generally, the stock and commodity markets are closed on weekends.

Union Budget 2026: NSE and BSE to hold rare trading session on Sunday, February 1

The US government early on Saturday (Jan 31) slipped into a partial shutdown after the US Congress failed to approve a full 2026 budget before the midnight deadline. The disruption is expected to be limited. Lawmakers in both parties say the House is likely to ratify a Senate-backed deal early next week, which would restore funding within days and avoid a prolonged crisis. For now, roughly three quarters of federal operations are technically affected, triggering shutdown procedures across multiple departments.<h2>What caused the shutdown?</h2>This latest funding lapse was driven less by fiscal math and more by uproar over the killing of civilians by federal agents deployed by US President Donald Trump. According to AFP, negotiations collapsed after Democrats walked away from talks over new funding for the Department of Homeland Security, following the killing of two protesters in Minneapolis by federal immigration agents.Also read | <a href="https://www.wionews.com/photos/donald-trump-elon-musk-and-zohran-mamdani-s-mother-mira-nair-big-names-mentioned-in-doj-s-latest-epstein-files-release-in-pictures-1769831510171">Trump, Musk, Gates and more: Big names mentioned in DOJ's latest Epstein files release | In pictures</a>Senate Democratic Minority Whip Dick Durbin accused the administration of misusing federal resources. On X, he wrote, "Instead of going after drug smugglers, child predators, and human traffickers, the Trump Administration is wasting valuable resources targeting peaceful protestors in Chicago and Minneapolis.""This Administration continues to make Americans less safe," he said.<h2>What would the shutdown affect?</h2>According to the report, roughly three-quarters of federal operations are set to be affected by the government shutdown. It can also potentially trigger shutdown procedures across a wide range of agencies and operations, from education and health to housing and defense. Federal departments were expected to begin implementing shutdown plans overnight, but congressional leaders in both parties said the Senate's action made a short disruption far more likely than a prolonged impasse.<h2>How bad could this get</h2>If the House passes the deal next week, the shutdown will likely be more symbolic than disruptive.But if talks drag on, the consequences escalate quickly. Tens of thousands of federal workers could be furloughed or forced to work without pay. Contractors would face delayed payments. Services across education, housing, health and defence would be affected.Also read | <a href="https://www.wionews.com/world/explosive-epstein-files-accuse-trump-of-raping-13-year-old-murdering-a-new-born-white-house-says-this-about-allegations-1769823565436">Explosive Epstein files accuse Trump of raping 13YO, murdering a newborn</a><h2>What is actually funded</h2>Late Friday, the Senate passed a package clearing five outstanding funding bills that would keep most federal agencies running through September. It also approved a two-week stopgap measure for DHS, buying time for further negotiations over immigration policy. The House of Representatives, however, was out of session when the deadline hit and is not scheduled to return until Monday.

The US entered a partial government shutdown after Congress failed to pass the full 2026 budget before the deadline. Talks collapsed over Democratic anger at federal agents killing two protesters in Minneapolis.

The US government early on Saturday (Jan 31) slipped into a partial shutdown after the US Congress failed to approve a full 2026 budget before the midnight deadline. The disruption is expected to be limited. Lawmakers in both parties say the House is likely to ratify a Senate-backed deal early next week, which would restore funding within days and avoid a prolonged crisis. For now, roughly three quarters of federal operations are technically affected, triggering shutdown procedures across multiple departments. What caused the shutdown? This latest funding lapse was driven less by fiscal math and more by uproar over the killing of civilians by federal agents deployed by US President Donald Trump. According to AFP, negotiations collapsed after Democrats walked away from talks over new funding for the Department of Homeland Security, following the killing of two protesters in Minneapolis by federal immigration agents. Also read | Trump, Musk, Gates and more: Big names mentioned in DOJ's latest Epstein files release | In pictures Senate Democratic Minority Whip Dick Durbin accused the administration of misusing federal resources. On X, he wrote, "Instead of going after drug smugglers, child predators, and human traffickers, the Trump Administration is wasting valuable resources targeting peaceful protestors in Chicago and Minneapolis." "This Administration continues to make Americans less safe," he said. What would the shutdown affect? According to the report, roughly three-quarters of federal operations are set to be affected by the government shutdown. It can also potentially trigger shutdown procedures across a wide range of agencies and operations, from education and health to housing and defense. Federal departments were expected to begin implementing shutdown plans overnight, but congressional leaders in both parties said the Senate's action made a short disruption far more likely than a prolonged impasse. How bad could this get If the House passes the deal next week, the shutdown will likely be more symbolic than disruptive. But if talks drag on, the consequences escalate quickly. Tens of thousands of federal workers could be furloughed or forced to work without pay. Contractors would face delayed payments. Services across education, housing, health and defence would be affected. Also read | Explosive Epstein files accuse Trump of raping 13YO, murdering a newborn What is actually funded Late Friday, the Senate passed a package clearing five outstanding funding bills that would keep most federal agencies running through September. It also approved a two-week stopgap measure for DHS, buying time for further negotiations over immigration policy. The House of Representatives, however, was out of session when the deadline hit and is not scheduled to return until Monday.

The US entered a partial government shutdown after Congress failed to pass the full 2026 budget before the deadline. Talks collapsed over Democratic anger at federal agents killing two protesters in Minneapolis.

US government enters partial shutdown after Congress misses budget deadline

Gold prices plunged nearly five per cent in early trading on Friday (Jan 30), after soaring to record highs this week. Gold is trading at $5,107.79 an ounce, having already shed gains on Thursday after reaching a record high of $5,595.47 on the same day. &nbsp;Mirroring the slide for gold, the silver prices fell under $100 on Friday on profit booking by investors and the announcement of Kevin Warsh as Fed chief. &nbsp;Silver slumped more than 15 per cent to $98.07 an ounce, having already slid Thursday following a record high the same day above $120.&nbsp;Responding to extreme volatility in the commodity market, China suspended trading of five commodity funds to pause investment mania in gold, silver, and oil to provide cushioning against risks amid geopolitical tensions.&nbsp;In a move to curb speculative excess, mainland China’s only public silver futures vehicle, the UBS SDIC Silver Futures Fund (LOF), was suspended from trading for the entire session on Friday. This marks the second full-day halt for the fund since January 22, as regulators struggle with unsustainable premiums that have recently exceeded 60% over the underlying assets.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/menstrual-hygiene-is-fundamental-right-supreme-court-orders-free-pads-for-school-girls-1769770333164">Menstrual hygiene is fundamental right: Supreme Court orders free pads for school girls</a>&nbsp;These developments came after gold recorded its largest ever single-day swing in market capitalisation as more than $3 trillion was wiped out from gold and silver in a single session. However, the selloff followed by a sharp rebound regaining around $2.3 trillion in market value, making it by far the most volatile and crazy day for the precious metal. The global capital market commentary platform, The Kobeissi letter, described it as "Insane" noting that "Gold's volatility is above 2008 levels," when markets got hit by the financial crisis.&nbsp;"Gold just posted its largest daily swing in market cap in history, at $5.5 TRILLION. Between 9:30 AM ET and 10:25 AM ET, gold lost -$3.2 trillion in market cap, or -$58 billion PER MINUTE. Then, between 10:25 AM ET and 4:00 PM ET, gold added back +$2.3 trillion. That's over 3 TIMES the market cap of Bitcoin swung in 6.5 hours, or ~$850 billion per hour. We are witnessing one of the most historic trading opportunities of all time," The Kobeissi letter posted on X.

These developments came after gold recorded its largest ever single-day swing in market capitalisation as more than $3 trillion was wiped out from gold and silver in a single session.

Gold prices plunged nearly five per cent in early trading on Friday (Jan 30), after soaring to record highs this week. Gold is trading at $5,107.79 an ounce, having already shed gains on Thursday after reaching a record high of $5,595.47 on the same day. Mirroring the slide for gold, the silver prices fell under $100 on Friday on profit booking by investors and the announcement of Kevin Warsh as Fed chief. Silver slumped more than 15 per cent to $98.07 an ounce, having already slid Thursday following a record high the same day above $120. Responding to extreme volatility in the commodity market, China suspended trading of five commodity funds to pause investment mania in gold, silver, and oil to provide cushioning against risks amid geopolitical tensions. In a move to curb speculative excess, mainland China’s only public silver futures vehicle, the UBS SDIC Silver Futures Fund (LOF), was suspended from trading for the entire session on Friday. This marks the second full-day halt for the fund since January 22, as regulators struggle with unsustainable premiums that have recently exceeded 60% over the underlying assets. Also Read: Menstrual hygiene is fundamental right: Supreme Court orders free pads for school girls These developments came after gold recorded its largest ever single-day swing in market capitalisation as more than $3 trillion was wiped out from gold and silver in a single session. However, the selloff followed by a sharp rebound regaining around $2.3 trillion in market value, making it by far the most volatile and crazy day for the precious metal. The global capital market commentary platform, The Kobeissi letter, described it as "Insane" noting that "Gold's volatility is above 2008 levels," when markets got hit by the financial crisis. "Gold just posted its largest daily swing in market cap in history, at $5.5 TRILLION. Between 9:30 AM ET and 10:25 AM ET, gold lost -$3.2 trillion in market cap, or -$58 billion PER MINUTE. Then, between 10:25 AM ET and 4:00 PM ET, gold added back +$2.3 trillion. That's over 3 TIMES the market cap of Bitcoin swung in 6.5 hours, or ~$850 billion per hour. We are witnessing one of the most historic trading opportunities of all time," The Kobeissi letter posted on X.

These developments came after gold recorded its largest ever single-day swing in market capitalisation as more than $3 trillion was wiped out from gold and silver in a single session.

Gold tumbles 5%, extends record-high selloff; China suspends silver, oil fund trading

Despite the debate that Artificial Intelligence firms are in a bubble that would burst soon, several of them are preparing for IPOs. In the US, the contest is mainly between OpenAI and its closest rivals. In China, some big names in the industry, collectively known as ‘AI Tigers’, have either already listed or are in the process. Billions, and possibly trillions, of dollars are at stake. Here is an update.<h2>OpenAI IPO: Plans to beat Anthropic</h2>OpenAI, the company behind the popular chatbot ChatGPT, wants to go public by the last quarter of 2026 and is trying to beat Anthropic to become the first major generative AI startup to IPO in the US. Valued at around $830 billion, which could rise to $1 trillion at listing, OpenAI has been on a fundraising spree. Major funders include Microsoft and SoftBank, with possible involvement from Amazon as well. This is despite OpenAI projecting cumulative losses of $115 billion through 2029, against annual revenue projections of around $20 billion.<h2>Anthropic is readying for an IPO</h2>Anthropic, the company behind the Claude AI models, is planning an IPO by mid-2026. Its valuation is around $350 billion following a $10 bn funding round. Anthropic’s investors include Microsoft, Nvidia and Amazon. Revenue is projected to reach $26 billion this year.<a href="https://www.wionews.com/videos/south-korea-enacts-ai-act-after-deepfake-menance-shocks-world-1769745050466/embed">https://www.wionews.com/videos/south-korea-enacts-ai-act-after-deepfake-menance-shocks-world-1769745050466/embed</a><h2>Musk wants an xAI IPO along with SpaceX: The mother of all AI IPOs?</h2>Elon Musk’s AI company xAI, which is behind the controversial Grok chatbot, is in merger discussions with SpaceX, his space exploration company. The plan appears to be a combined IPO in mid-2026. The combined entity could be valued at $1 trillion. However, xAI is valued at a much lower $230 billion as a standalone company. The AI firm has recently raised $20 billion in a Series E round and has a $2 billion funding commitment from SpaceX. Nvidia and Cisco are among its strategic investors.Also read: <a href="https://www.wionews.com/technology/ai-generated-content-will-shape-the-future-of-social-media-says-mark-zuckerberg-1769668052622">AI-generated content will shape the future of social media, says Mark Zuckerberg</a><h2>Databricks, Cerebras Systems, Cohere and other potential IPO candidates</h2>AI infrastructure provider Databricks could IPO, with its valuation having reached $134 billion in 2025. The company is backed by Nvidia, Microsoft and Amazon, with a revenue run rate of around $4.8 billion.AI chipmaker Cerebras Systems, which is focused on high-performance GPUs, could IPO in the second quarter of 2026. Valued at around $8.1 billion, Cerebras has investors including Fidelity, Sequoia Capital, Foundation Capital, Eclipse, Coatue and Benchmark.The enterprise-focused AI model developer Cohere is another IPO candidate this year, with a $7 billion valuation and $150 million in annual recurring revenue.Groq, the company that makes AI chips (and is unrelated to Grok), and AI robotics firm Figure AI are also holding pre-IPO discussions, without confirmed IPO dates.Also read: <a href="https://www.wionews.com/photos/-120-billion-ai-bubble-at-risk-ibm-ceo-says-ai-bubble-could-burst-soon-1769682978130">$120 billion AI bubble at risk? IBM CEO says AI bubble could burst soon</a><h2>Meanwhile in China: Another AI IPO boom is underway, with some already listed</h2>China is the other major market seeing a scramble for AI IPOs, led by generative “AI tigers” and AI chip companies. Some have already gone public, while others are preparing to IPO.Among the first to go public was Zhipu AI, a leading “AI tiger” that developed the GLM family of large language models (LLMs). It became the world’s first major LLM company to go public on January 8, with shares closing 13.2 per cent higher on debut. The company is valued at approximately $6.7 billion post-IPO.MiniMax, another “AI tiger”, known for video generation as well as multimodal AI across text, image and voice, completed its Hong Kong IPO on January 9. Shares of the company behind Talkie AI and Hailuo AI surged 109 per cent on debut, with a current post-IPO valuation of around $13.7 billion. Alibaba is its largest investor, while other backers include Tencent, Hillhouse Capital, Future Capital, Xiaomi, Xiaohongshu, Shunwei and IDG.Moonshot AI, which is behind the Kimi chatbot, could IPO later in 2026.Major Chinese semiconductor companies are also going public. Kunlunxin, the AI chip unit of Baidu, which is developing chips to rival Nvidia, has plans for a Hong Kong IPO in 2026.&nbsp;T-Head, Alibaba’s chip unit, could pursue a spinoff IPO. Montage Technology, another AI chip designer for data centres and servers, is pursuing a secondary listing on the Hong Kong Exchange in February. Axera Semiconductor, a maker of AI inference chips, is also set to list in Hong Kong in February

Despite talk of a bubble, AI firms are rushing towards IPOs in the US and China. In the US, the race is between OpenAI, and its competitors like Anthropic and xAI. In China, AI Tigers' and chipmakers are listing fast with big valuations

Despite the debate that Artificial Intelligence firms are in a bubble that would burst soon, several of them are preparing for IPOs. In the US, the contest is mainly between OpenAI and its closest rivals. In China, some big names in the industry, collectively known as ‘AI Tigers’, have either already listed or are in the process. Billions, and possibly trillions, of dollars are at stake. Here is an update. OpenAI IPO: Plans to beat Anthropic OpenAI, the company behind the popular chatbot ChatGPT, wants to go public by the last quarter of 2026 and is trying to beat Anthropic to become the first major generative AI startup to IPO in the US. Valued at around $830 billion, which could rise to $1 trillion at listing, OpenAI has been on a fundraising spree. Major funders include Microsoft and SoftBank, with possible involvement from Amazon as well. This is despite OpenAI projecting cumulative losses of $115 billion through 2029, against annual revenue projections of around $20 billion. Anthropic is readying for an IPO Anthropic, the company behind the Claude AI models, is planning an IPO by mid-2026. Its valuation is around $350 billion following a $10 bn funding round. Anthropic’s investors include Microsoft, Nvidia and Amazon. Revenue is projected to reach $26 billion this year. https://www.wionews.com/videos/south-korea-enacts-ai-act-after-deepfake-menance-shocks-world-1769745050466/embed Musk wants an xAI IPO along with SpaceX: The mother of all AI IPOs? Elon Musk’s AI company xAI, which is behind the controversial Grok chatbot, is in merger discussions with SpaceX, his space exploration company. The plan appears to be a combined IPO in mid-2026. The combined entity could be valued at $1 trillion. However, xAI is valued at a much lower $230 billion as a standalone company. The AI firm has recently raised $20 billion in a Series E round and has a $2 billion funding commitment from SpaceX. Nvidia and Cisco are among its strategic investors. Also read: AI-generated content will shape the future of social media, says Mark Zuckerberg Databricks, Cerebras Systems, Cohere and other potential IPO candidates AI infrastructure provider Databricks could IPO, with its valuation having reached $134 billion in 2025. The company is backed by Nvidia, Microsoft and Amazon, with a revenue run rate of around $4.8 billion. AI chipmaker Cerebras Systems, which is focused on high-performance GPUs, could IPO in the second quarter of 2026. Valued at around $8.1 billion, Cerebras has investors including Fidelity, Sequoia Capital, Foundation Capital, Eclipse, Coatue and Benchmark. The enterprise-focused AI model developer Cohere is another IPO candidate this year, with a $7 billion valuation and $150 million in annual recurring revenue. Groq, the company that makes AI chips (and is unrelated to Grok), and AI robotics firm Figure AI are also holding pre-IPO discussions, without confirmed IPO dates. Also read: $120 billion AI bubble at risk? IBM CEO says AI bubble could burst soon Meanwhile in China: Another AI IPO boom is underway, with some already listed China is the other major market seeing a scramble for AI IPOs, led by generative “AI tigers” and AI chip companies. Some have already gone public, while others are preparing to IPO. Among the first to go public was Zhipu AI, a leading “AI tiger” that developed the GLM family of large language models (LLMs). It became the world’s first major LLM company to go public on January 8, with shares closing 13.2 per cent higher on debut. The company is valued at approximately $6.7 billion post-IPO. MiniMax, another “AI tiger”, known for video generation as well as multimodal AI across text, image and voice, completed its Hong Kong IPO on January 9. Shares of the company behind Talkie AI and Hailuo AI surged 109 per cent on debut, with a current post-IPO valuation of around $13.7 billion. Alibaba is its largest investor, while other backers include Tencent, Hillhouse Capital, Future Capital, Xiaomi, Xiaohongshu, Shunwei and IDG. Moonshot AI, which is behind the Kimi chatbot, could IPO later in 2026. Major Chinese semiconductor companies are also going public. Kunlunxin, the AI chip unit of Baidu, which is developing chips to rival Nvidia, has plans for a Hong Kong IPO in 2026. T-Head, Alibaba’s chip unit, could pursue a spinoff IPO. Montage Technology, another AI chip designer for data centres and servers, is pursuing a secondary listing on the Hong Kong Exchange in February. Axera Semiconductor, a maker of AI inference chips, is also set to list in Hong Kong in February

Despite talk of a bubble, AI firms are rushing towards IPOs in the US and China. In the US, the race is between OpenAI, and its competitors like Anthropic and xAI. In China, AI Tigers' and chipmakers are listing fast with big valuations

AI bubble, what bubble? American AI firms are racing for IPOs; some Chinese ‘AI Tigers’ already listed, others in pipeline

As India prepares to host the BRICS summit later this year, amid rumours of a “BRICS currency” to replace the US dollar, the focus is expected to be on a shared payment system that links national digital currencies. Here's all you need to know about a BRICS payment system.<h2>Not a currency, but a system</h2>Previously, reports suggested the possible launch of a single BRICS currency that could potentially replace the US dollar. However, the proposals for a common currency ran into obvious problems: different inflation regimes, capital controls, and fears that China’s yuan would dominate any shared system. However, this new approach, a BRICS payment system built on interoperable central bank digital currencies (CBDCs), could avoid all of that.Also read | <a href="https://www.wionews.com/india-news/how-safe-is-the-rupee-from-trump-s-tantrums-economic-survey-2025-26-reveals-risks-1769676289934">How safe is the rupee from Trump's tantrums? Economic Survey 2026 reveals risks</a><h2>BRICS digital currency platform</h2>According to Asia Times, the idea is to connect existing central bank digital currencies, such as India’s digital rupee, China’s digital yuan and Russia’s digital ruble, through a common payment infrastructure. Each country keeps full control over its own currency. What changes is how these currencies interact.In simple terms, it would allow countries to settle trade directly in their own digital currencies, without routing payments through correspondent banks or the dollar-based SWIFT network.<h2>Why India matters</h2>India is playing a central role in shaping this direction. Summit host New Delhi has consistently pushed for interoperability rather than monetary integration, a philosophy shaped by its own digital payments success at home through Unified Payments Interface (UPI). The emphasis is on building systems that talk to each other while preserving sovereignty.The Reserve Bank of India has been clear that the digital rupee is not a crypto asset and not a step toward a currency union. It is simply a digital version of sovereign money.There is also a practical lesson behind this stance. Earlier trade settlements with Russia left Moscow holding large amounts of rupees it could not easily spend, the so-called “rupee trap”. A multilateral system, rather than bilateral deals, helps prevent currencies from piling up uselessly.Also read | <a href="https://www.wionews.com/india-news/economic-survey-2025-26-tabled-in-lok-sabha-india-needs-8-growth-to-achieve-viksit-bharat-dream-by-2047-what-it-says-about-india-s-growth-outlook-1769670492894">Economic Survey 2025–26: India needs 8% growth to become ‘Viksit Bharat’ by 2047</a><h2>How the system would actually work</h2>The proposed BRICS payment system rests on two technical ideas: settlement cycles and forex swap lines. Settlement cycles mean countries do not settle every transaction instantly. Instead, trade flows are netted out over a period. Only the final difference is transferred.For example, if China imports 500 billion rupees worth of goods from India in a month and exports 450 billion, only the net 50 billion needs to be settled. That massively reduces liquidity needs and transaction costs.Forex swap lines, meanwhile, act as a safety valve. If one country suddenly needs more of another’s currency to settle its balance, central banks can temporarily swap currencies to smooth things over.This is not about killing the dollarNone of this replaces the dollar. The dollar still dominates global finance, making up around 59 per cent of global reserves and about 58 per cent of international payments. But there is growing anxiety about how fragile that system has become.US national debt is nearing 39 trillion dollars. Global debt stands at around $315 trillion, 64 per cent of which is denominated in dollars. That means the entire world is exposed to US monetary policy and US political stability.The risk is circular. If global demand for dollar assets weakens, US borrowing costs rise. That tightens financial conditions everywhere and can trigger cascading crises.<h2>Why do countries want a backup</h2>This is where geopolitics enters. The concerns about the dollar partly stem from Russia’s exclusion from SWIFT and the freezing of 300 billion dollars. While Iran, North Korea and Cuba have also faced similar measures before, Russia proved that even major economies are not immune.With financial infrastructure emerging as a strategic weapon, the BRICS digital payment system could act as a shock absorber. A parallel system that keeps trade functioning if the main one breaks down.<h2>When will the BRICS payment system be launched?</h2>The BRICS payment system will take some time to come into practice as most CBDCs are still in pilot stages. Legal frameworks and technical standards also vary wildly among the BRICS countries.The likely path is gradual - starting with bilateral links, then stitching them into a network. India, meanwhile, already offers a model. Its UPI is already interoperable with the UAE’s payment system, enabling fast cross-border transfers. Brazil’s PIX and China’s digital infrastructure could follow. Over time, this could evolve into a shared BRICS payment layer. &nbsp;

As talk of a “BRICS currency” grows, the bloc actually seems to be moving in a very different direction. Instead of one shared currency, BRICS is working on a digital payment system that links national digital currencies like India’s e-rupee, China’s e-yuan and Russia’s e-ruble. WION Explains

As India prepares to host the BRICS summit later this year, amid rumours of a “BRICS currency” to replace the US dollar, the focus is expected to be on a shared payment system that links national digital currencies. Here's all you need to know about a BRICS payment system. Not a currency, but a system Previously, reports suggested the possible launch of a single BRICS currency that could potentially replace the US dollar. However, the proposals for a common currency ran into obvious problems: different inflation regimes, capital controls, and fears that China’s yuan would dominate any shared system. However, this new approach, a BRICS payment system built on interoperable central bank digital currencies (CBDCs), could avoid all of that. Also read | How safe is the rupee from Trump's tantrums? Economic Survey 2026 reveals risks BRICS digital currency platform According to Asia Times, the idea is to connect existing central bank digital currencies, such as India’s digital rupee, China’s digital yuan and Russia’s digital ruble, through a common payment infrastructure. Each country keeps full control over its own currency. What changes is how these currencies interact. In simple terms, it would allow countries to settle trade directly in their own digital currencies, without routing payments through correspondent banks or the dollar-based SWIFT network. Why India matters India is playing a central role in shaping this direction. Summit host New Delhi has consistently pushed for interoperability rather than monetary integration, a philosophy shaped by its own digital payments success at home through Unified Payments Interface (UPI). The emphasis is on building systems that talk to each other while preserving sovereignty. The Reserve Bank of India has been clear that the digital rupee is not a crypto asset and not a step toward a currency union. It is simply a digital version of sovereign money. There is also a practical lesson behind this stance. Earlier trade settlements with Russia left Moscow holding large amounts of rupees it could not easily spend, the so-called “rupee trap”. A multilateral system, rather than bilateral deals, helps prevent currencies from piling up uselessly. Also read | Economic Survey 2025–26: India needs 8% growth to become ‘Viksit Bharat’ by 2047 How the system would actually work The proposed BRICS payment system rests on two technical ideas: settlement cycles and forex swap lines. Settlement cycles mean countries do not settle every transaction instantly. Instead, trade flows are netted out over a period. Only the final difference is transferred. For example, if China imports 500 billion rupees worth of goods from India in a month and exports 450 billion, only the net 50 billion needs to be settled. That massively reduces liquidity needs and transaction costs. Forex swap lines, meanwhile, act as a safety valve. If one country suddenly needs more of another’s currency to settle its balance, central banks can temporarily swap currencies to smooth things over. This is not about killing the dollar None of this replaces the dollar. The dollar still dominates global finance, making up around 59 per cent of global reserves and about 58 per cent of international payments. But there is growing anxiety about how fragile that system has become. US national debt is nearing 39 trillion dollars. Global debt stands at around $315 trillion, 64 per cent of which is denominated in dollars. That means the entire world is exposed to US monetary policy and US political stability. The risk is circular. If global demand for dollar assets weakens, US borrowing costs rise. That tightens financial conditions everywhere and can trigger cascading crises. Why do countries want a backup This is where geopolitics enters. The concerns about the dollar partly stem from Russia’s exclusion from SWIFT and the freezing of 300 billion dollars. While Iran, North Korea and Cuba have also faced similar measures before, Russia proved that even major economies are not immune. With financial infrastructure emerging as a strategic weapon, the BRICS digital payment system could act as a shock absorber. A parallel system that keeps trade functioning if the main one breaks down. When will the BRICS payment system be launched? The BRICS payment system will take some time to come into practice as most CBDCs are still in pilot stages. Legal frameworks and technical standards also vary wildly among the BRICS countries. The likely path is gradual - starting with bilateral links, then stitching them into a network. India, meanwhile, already offers a model. Its UPI is already interoperable with the UAE’s payment system, enabling fast cross-border transfers. Brazil’s PIX and China’s digital infrastructure could follow. Over time, this could evolve into a shared BRICS payment layer.

As talk of a “BRICS currency” grows, the bloc actually seems to be moving in a very different direction. Instead of one shared currency, BRICS is working on a digital payment system that links national digital currencies like India’s e-rupee, China’s e-yuan and Russia’s e-ruble. WION Explains

India takes lead as BRICS eyes digital payment system to bypass dollar. All about the BRICS payment system - Explained

US President Donald Trump on Thursday (Jan 29) opened a fresh front in his trade war with Canada, threatening the nation with 50 per cent tariffs on its aircraft sold into the United States. He also announced plans to all Canadian-made aircraft, warning that the move would stay in place until American-made Gulfstream jets receive certification in Canada.<h2>Canada "wrongfully, illegally" refusing to certify the Gulfstream?</h2>Writing on Truth Social, Trump singled out Bombardier's Global Express business jet, produced in Quebec, accusing Ottawa of blocking US aircraft through regulatory barriers. "Based on the fact that Canada has wrongfully, illegally, and steadfastly refused to certify the Gulfstream 500, 600, 700, and 800 Jets, one of the greatest, most technologically advanced airplanes ever made, we are hereby decertifying their Bombardier Global Expresses, and all Aircraft made in Canada, until such time as Gulfstream, a Great American Company, is fully certified, as it should have been many years ago," he wrote.Also read | <a href="https://www.wionews.com/world/-hopefully-we-won-t-have-to-use-it-trump-confirms-very-big-very-powerful-ships-heading-to-iran-1769735829348">‘Hopefully we won’t have to use it’: Trump confirms ‘very big, very powerful ships’ heading to Iran</a>Trump alleged that Canada was "effectively prohibiting the sale of Gulfstream products in Canada" and warned that "If, for any reason, this situation is not immediately corrected, I am going to charge Canada a 50% Tariff on any and all Aircraft sold into the United States of America."<h2>US and Canada: From allies to adversaries</h2>The warning marks another sharp turn in US-Canada relations, which have steadily deteriorated since Trump returned to office last year. Just hours earlier, CNN reported that Canadian Prime Minister Mark Carney had urged Trump to “respect Canadian sovereignty” after reports emerged of meetings between Alberta separatists and US officials.Just days earlier, Trump had warned he would impose a sweeping 100 per cent tariff on Canadian goods if Ottawa went ahead with a trade agreement with China. He repeated the threat over the weekend.Also read | <a href="https://www.wionews.com/india-news/how-safe-is-the-rupee-from-trump-s-tantrums-economic-survey-2025-26-reveals-risks-1769676289934">How safe is the rupee from Trump's tantrums? Economic Survey 2025-26 reveals risks</a><h2>“Governor Carney”</h2>Previously, in a series of posts on Saturday (Jan 24), Trump mocked Canadian Prime Minister Mark Carney by repeatedly calling him “Governor” and warned Canada against deepening economic ties with Beijing. “If Governor Carney thinks he is going to make Canada a 'Drop Off Port' for China to send goods and products into the United States, he is sorely mistaken,” Trump wrote.He went further, claiming China would “eat Canada alive” and “completely devour” its economy and way of life.“If Canada makes a deal with China, it will immediately be hit with a 100% Tariff against all Canadian goods and products coming into the USA,” he added. The comments come days after Carney visited Beijing, the first trip by a Canadian leader to China in nearly a decade.&nbsp;

Trump has threatened Canada with 50% tariffs on all aircraft, accusing Ottawa of blocking US-made Gulfstream jets. He said the US will decertify Canadian planes like Bombardier’s Global Express until Gulfstream gets approval.

US President Donald Trump on Thursday (Jan 29) opened a fresh front in his trade war with Canada, threatening the nation with 50 per cent tariffs on its aircraft sold into the United States. He also announced plans to all Canadian-made aircraft, warning that the move would stay in place until American-made Gulfstream jets receive certification in Canada. Canada "wrongfully, illegally" refusing to certify the Gulfstream? Writing on Truth Social, Trump singled out Bombardier's Global Express business jet, produced in Quebec, accusing Ottawa of blocking US aircraft through regulatory barriers. "Based on the fact that Canada has wrongfully, illegally, and steadfastly refused to certify the Gulfstream 500, 600, 700, and 800 Jets, one of the greatest, most technologically advanced airplanes ever made, we are hereby decertifying their Bombardier Global Expresses, and all Aircraft made in Canada, until such time as Gulfstream, a Great American Company, is fully certified, as it should have been many years ago," he wrote. Also read | ‘Hopefully we won’t have to use it’: Trump confirms ‘very big, very powerful ships’ heading to Iran Trump alleged that Canada was "effectively prohibiting the sale of Gulfstream products in Canada" and warned that "If, for any reason, this situation is not immediately corrected, I am going to charge Canada a 50% Tariff on any and all Aircraft sold into the United States of America." US and Canada: From allies to adversaries The warning marks another sharp turn in US-Canada relations, which have steadily deteriorated since Trump returned to office last year. Just hours earlier, CNN reported that Canadian Prime Minister Mark Carney had urged Trump to “respect Canadian sovereignty” after reports emerged of meetings between Alberta separatists and US officials. Just days earlier, Trump had warned he would impose a sweeping 100 per cent tariff on Canadian goods if Ottawa went ahead with a trade agreement with China. He repeated the threat over the weekend. Also read | How safe is the rupee from Trump's tantrums? Economic Survey 2025-26 reveals risks “Governor Carney” Previously, in a series of posts on Saturday (Jan 24), Trump mocked Canadian Prime Minister Mark Carney by repeatedly calling him “Governor” and warned Canada against deepening economic ties with Beijing. “If Governor Carney thinks he is going to make Canada a 'Drop Off Port' for China to send goods and products into the United States, he is sorely mistaken,” Trump wrote. He went further, claiming China would “eat Canada alive” and “completely devour” its economy and way of life. “If Canada makes a deal with China, it will immediately be hit with a 100% Tariff against all Canadian goods and products coming into the USA,” he added. The comments come days after Carney visited Beijing, the first trip by a Canadian leader to China in nearly a decade.

Trump has threatened Canada with 50% tariffs on all aircraft, accusing Ottawa of blocking US-made Gulfstream jets. He said the US will decertify Canadian planes like Bombardier’s Global Express until Gulfstream gets approval.

Trump declares war on Canadian planes, threatens Bombardiers and other aircraft with 50% tariffs

Prime Minister Narendra Modi on Thursday said the Economic Survey has highlighted strong macroeconomic fundamentals, sustained growth momentum and the expanding role of innovation, entrepreneurship and infrastructure in nation-building.&nbsp;PM Modi also said that the survey, presented by Union Finance Minister Nirmala Sitharaman in the Parliament earlier in the day, underscores the importance of inclusive development, with focused attention on farmers, MSMEs, youth employment and social welfare.&nbsp;Also Read: <a href="https://www.wionews.com/world/iran-s-fm-abbas-araghchi-to-visit-turkey-on-friday-for-high-stakes-talks-as-fear-of-war-looms-1769708331276">Iran’s FM Abbas Araghchi to visit Turkey on Friday for high-stakes talks as fear of war looms</a>&nbsp;“The economic survey tabled today presents a comprehensive picture of India’s Reform Express, reflecting steady progress in a challenging global environment. It highlights strong macroeconomic fundamentals, sustained growth momentum and the expanding role of innovation, entrepreneurship and infrastructure in nation-building,” he said in a post on X.&nbsp;Also Read: <a href="https://www.wionews.com/world/trump-slams-powell-says-unnecessary-high-interest-rates-hurting-economy-national-security-1769702026051">Trump slams Powell, says unnecessary high interest rates hurting economy, national security</a>&nbsp;The prime minister said the survey also outlines the roadmap for strengthening manufacturing, enhancing productivity and accelerating our march towards becoming a Viksit Bharat.“The insights offered will guide informed policymaking and reinforce confidence in India’s economic future,” he said.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/-we-are-on-same-page-shashi-tharoor-rahul-gandhi-put-up-united-front-amid-rift-rumours-1769696703001">‘We are on same page’: Shashi Tharoor, Rahul Gandhi put up united front amid rift rumours</a>&nbsp;The survey projected that India’s economy will grow by 6.8-7.2 per cent in the fiscal year starting April, reaffirming the country’s status as the world’s fastest-growing major economy despite trade risks and global volatility clouding the outlook.&nbsp;Also Read: <a href="https://www.wionews.com/business-economy/gold-surges-past-5-500-silver-tops-120-amid-iran-tensions-us-fed-pause-and-weakening-dollar-1769682949030">Gold surges past $5,500, silver tops $120 amid Iran tensions, US Fed pause and weakening dollar</a>&nbsp;As per National Statistics Office estimates, the Indian economy has grown at 7.4 per cent in the current fiscal, reinforcing India's status as the fastest-growing major economy for the fourth consecutive year.The survey has also raised the country’s potential growth forecast to 7 per cent from the earlier projection of 6.5 per cent estimated three years earlier.

Prime Minister Narendra Modi said the Economic Survey underscores the importance of inclusive development, with focused attention on farmers, MSMEs, youth employment, and social welfare.

Prime Minister Narendra Modi on Thursday said the Economic Survey has highlighted strong macroeconomic fundamentals, sustained growth momentum and the expanding role of innovation, entrepreneurship and infrastructure in nation-building. PM Modi also said that the survey, presented by Union Finance Minister Nirmala Sitharaman in the Parliament earlier in the day, underscores the importance of inclusive development, with focused attention on farmers, MSMEs, youth employment and social welfare. Also Read: Iran’s FM Abbas Araghchi to visit Turkey on Friday for high-stakes talks as fear of war looms “The economic survey tabled today presents a comprehensive picture of India’s Reform Express, reflecting steady progress in a challenging global environment. It highlights strong macroeconomic fundamentals, sustained growth momentum and the expanding role of innovation, entrepreneurship and infrastructure in nation-building,” he said in a post on X. Also Read: Trump slams Powell, says unnecessary high interest rates hurting economy, national security The prime minister said the survey also outlines the roadmap for strengthening manufacturing, enhancing productivity and accelerating our march towards becoming a Viksit Bharat. “The insights offered will guide informed policymaking and reinforce confidence in India’s economic future,” he said. Also Read: ‘We are on same page’: Shashi Tharoor, Rahul Gandhi put up united front amid rift rumours The survey projected that India’s economy will grow by 6.8-7.2 per cent in the fiscal year starting April, reaffirming the country’s status as the world’s fastest-growing major economy despite trade risks and global volatility clouding the outlook. Also Read: Gold surges past $5,500, silver tops $120 amid Iran tensions, US Fed pause and weakening dollar As per National Statistics Office estimates, the Indian economy has grown at 7.4 per cent in the current fiscal, reinforcing India's status as the fastest-growing major economy for the fourth consecutive year. The survey has also raised the country’s potential growth forecast to 7 per cent from the earlier projection of 6.5 per cent estimated three years earlier.

Prime Minister Narendra Modi said the Economic Survey underscores the importance of inclusive development, with focused attention on farmers, MSMEs, youth employment, and social welfare.

Economic Survey reflects sustained growth, outlines roadmap for Viksit Bharat: PM Modi

The Ministry of Housing and Urban Affairs (MoHUA) has received a sharp boost in funding in the Union Budget 2025–26, with an allocation of Rs 96,777 crore, a 52 per cent increase over the revised estimate of Rs 63,670 crore in 2024–25. The allocation accounts for around 1.9 per cent of total central government expenditure and roughly 0.3 per cent of India’s GDP, indicating renewed focus on urban infrastructure, housing, and public transport.&nbsp;Of the total outlay for 2025–26, the Ministry plans to spend 61 per cent on revenue expenditure and the remaining 39 per cent on capital expenditure. Revenue spending has been budgeted at Rs 59,154 crore, an 85 per cent rise from the revised estimate of the previous year, while capital expenditure has been pegged at Rs 37,623 crore, up 19 per cent.&nbsp;Urban transport continues to dominate the Ministry’s spending priorities. Mass Rapid Transport Systems (MRTS) and metro rail projects account for the largest share of the budget, with an allocation of Rs 34,807 crore, or 36 per cent of the total outlay. This marks a 22 per cent increase over the revised estimate for 2024–25, reflecting the government’s push to expand metro networks and ease congestion in cities.<h3>PMAY–Urban</h3>Housing remains another major focus area as PMAY–Urban, including PMAY 2.0, has been allocated Rs 23,294 crore, making up 24 per cent of the Ministry’s budget and registering a 54 per cent increase over the previous year’s revised estimate. The Atal Mission for Rejuvenation and Urban Transformation (AMRUT), aimed at improving basic urban services such as water supply and sewerage, has also seen a substantial rise, with allocations jumping 67 per cent to Rs 10,000 crore.&nbsp;Several new and expanded initiatives feature prominently in the budget. A fresh allocation of Rs 10,000 crore has been announced for the Urban Challenge Fund, while Rs 2,500 crore has been earmarked for a new industrial housing scheme. Funding for the Swachh Bharat Mission–Urban has more than doubled to Rs 5,000 crore, and the PM e-Bus Sewa scheme has seen a 162% increase to Rs 1,310 crore. In contrast, no allocation has been made for the Smart Cities Mission in 2025–26.&nbsp;Also read: <a href="https://www.wionews.com/business-economy/gold-surges-past-5-500-silver-tops-120-amid-iran-tensions-us-fed-pause-and-weakening-dollar-1769682949030">Gold surges past $5,500, silver tops $120 amid Iran tensions, US Fed pause and weakening dollar</a>

The notable success of India’s telecom sector comes under the production-linked incentive (PLI) scheme, as exports rose by 1.5 per cent average annual growth rate (AAGR) between FY21 and FY25. By contrast, imports fell by 18.5 per cent during the same point of time.

The Ministry of Housing and Urban Affairs (MoHUA) has received a sharp boost in funding in the Union Budget 2025–26, with an allocation of Rs 96,777 crore, a 52 per cent increase over the revised estimate of Rs 63,670 crore in 2024–25. The allocation accounts for around 1.9 per cent of total central government expenditure and roughly 0.3 per cent of India’s GDP, indicating renewed focus on urban infrastructure, housing, and public transport. Of the total outlay for 2025–26, the Ministry plans to spend 61 per cent on revenue expenditure and the remaining 39 per cent on capital expenditure. Revenue spending has been budgeted at Rs 59,154 crore, an 85 per cent rise from the revised estimate of the previous year, while capital expenditure has been pegged at Rs 37,623 crore, up 19 per cent. Urban transport continues to dominate the Ministry’s spending priorities. Mass Rapid Transport Systems (MRTS) and metro rail projects account for the largest share of the budget, with an allocation of Rs 34,807 crore, or 36 per cent of the total outlay. This marks a 22 per cent increase over the revised estimate for 2024–25, reflecting the government’s push to expand metro networks and ease congestion in cities. PMAY–Urban Housing remains another major focus area as PMAY–Urban, including PMAY 2.0, has been allocated Rs 23,294 crore, making up 24 per cent of the Ministry’s budget and registering a 54 per cent increase over the previous year’s revised estimate. The Atal Mission for Rejuvenation and Urban Transformation (AMRUT), aimed at improving basic urban services such as water supply and sewerage, has also seen a substantial rise, with allocations jumping 67 per cent to Rs 10,000 crore. Several new and expanded initiatives feature prominently in the budget. A fresh allocation of Rs 10,000 crore has been announced for the Urban Challenge Fund, while Rs 2,500 crore has been earmarked for a new industrial housing scheme. Funding for the Swachh Bharat Mission–Urban has more than doubled to Rs 5,000 crore, and the PM e-Bus Sewa scheme has seen a 162% increase to Rs 1,310 crore. In contrast, no allocation has been made for the Smart Cities Mission in 2025–26. Also read: Gold surges past $5,500, silver tops $120 amid Iran tensions, US Fed pause and weakening dollar

The notable success of India’s telecom sector comes under the production-linked incentive (PLI) scheme, as exports rose by 1.5 per cent average annual growth rate (AAGR) between FY21 and FY25. By contrast, imports fell by 18.5 per cent during the same point of time.

Big push for cities as Urban Affairs allocation jumps to Rs 96,777 Cr, gets 52% funding boost: Check other sectors

India’s telecom sector has witnessed a major transformation over the past decade, driven by the government’s vision of a digitally empowered nation, according to a report in the Economic Survey 2025–26. Policy efforts have focused on building a telecom ecosystem that is inclusive, developed, fast-moving, and secure, with an emphasis on universal connectivity and rapid technological adoption.&nbsp;The sector’s growth is reflected in rising tele-density, which increased from 75.23 per cent to 86.76 per cent, helping narrow the digital divide between rural and urban areas. A sharp fall in wireless data tariffs has fuelled a surge in average monthly data consumption, underlining the importance of affordability in mass digital adoption. The survey also notes that 5G services are now available in 99.9 per cent of districts across the country, marking a significant milestone in India’s digital infrastructure expansion.<h3>The telecom sector comes under the production-linked incentive (PLI)&nbsp;</h3>The notable success of India’s telecom sector comes under the production-linked incentive (PLI) scheme, as exports rose by 1.5 per cent average annual growth rate (AAGR) between FY21 and FY25. By contrast, imports fell by 18.5 per cent during the same point of time.&nbsp;To foster domestic manufacturing of telecom gear, the PLI scheme was launched in 2021 with an outlay of Rs 12,195 crore, which has attracted more than Rs 4,700 crore in investments. This enabled more than Rs 1,00,000 crore sales, including Rs 21,000 crore exports, and also generated nearly 30,000 jobs. The telecom equipment exports in the fiscal year 2025 (FY25) alone rose by 51.2 per cent year-on-year, as per the document.&nbsp;“This trend indicates an early accomplishment in import substitution, aligning with the PLI framework's overarching objective of enhancing market penetration abroad,” the document, published ahead of Finance Minister Nirmala Sitharaman’s union budget announcement on February 1 (Sunday), said.&nbsp;Also read: <a href="https://www.wionews.com/business-economy/gold-surges-past-5-500-silver-tops-120-amid-iran-tensions-us-fed-pause-and-weakening-dollar-1769682949030">Gold surges past $5,500, silver tops $120 amid Iran tensions, US Fed pause and weakening dollar</a>

The survey also notes that 5G services are now available in 99.9 per cent of districts across the country, marking a significant milestone in India’s digital infrastructure expansion.

India’s telecom sector has witnessed a major transformation over the past decade, driven by the government’s vision of a digitally empowered nation, according to a report in the Economic Survey 2025–26. Policy efforts have focused on building a telecom ecosystem that is inclusive, developed, fast-moving, and secure, with an emphasis on universal connectivity and rapid technological adoption. The sector’s growth is reflected in rising tele-density, which increased from 75.23 per cent to 86.76 per cent, helping narrow the digital divide between rural and urban areas. A sharp fall in wireless data tariffs has fuelled a surge in average monthly data consumption, underlining the importance of affordability in mass digital adoption. The survey also notes that 5G services are now available in 99.9 per cent of districts across the country, marking a significant milestone in India’s digital infrastructure expansion. The telecom sector comes under the production-linked incentive (PLI) The notable success of India’s telecom sector comes under the production-linked incentive (PLI) scheme, as exports rose by 1.5 per cent average annual growth rate (AAGR) between FY21 and FY25. By contrast, imports fell by 18.5 per cent during the same point of time. To foster domestic manufacturing of telecom gear, the PLI scheme was launched in 2021 with an outlay of Rs 12,195 crore, which has attracted more than Rs 4,700 crore in investments. This enabled more than Rs 1,00,000 crore sales, including Rs 21,000 crore exports, and also generated nearly 30,000 jobs. The telecom equipment exports in the fiscal year 2025 (FY25) alone rose by 51.2 per cent year-on-year, as per the document. “This trend indicates an early accomplishment in import substitution, aligning with the PLI framework's overarching objective of enhancing market penetration abroad,” the document, published ahead of Finance Minister Nirmala Sitharaman’s union budget announcement on February 1 (Sunday), said. Also read: Gold surges past $5,500, silver tops $120 amid Iran tensions, US Fed pause and weakening dollar

The survey also notes that 5G services are now available in 99.9 per cent of districts across the country, marking a significant milestone in India’s digital infrastructure expansion.

5G in 99.9% districts, data cheaper than ever: How India’s telecom sector transformed in a decade

The Indian government has launched the new Aadhaar app on Wednesday that will allow people to manage and verify their identities digitally. The move comes with the elimination of the need to submit physical copies of Aadhaar for verification or visiting Aadhaar centres for updating personal details.<h3>Key features</h3>In the newly launched app, Aadhaar details will be kept securely on mobile devices to eliminate the need to carry and submit a physical Aadhaar card for the purposes of verification. People will also now be able to change addresses and mobile numbers in minutes, subject to Unique Identification Authority of India’s (UIDAI) confirmation. Users will be able to track their authentication history, allowing them to see where and when their Aadhaar details have been used for verification, giving them greater transparency and control over their digital identity.&nbsp;One of the significant features of the new Aadhaar app is its ability to let users share only specific personal details instead of the complete Aadhaar card, easing privacy and security concerns. This limits the chances of data misuse, particularly at places like hotels, where individuals can provide basic information such as name and age without exposing their full details.&nbsp;Another significant upgrade is the family management option, which allows a single mobile device to manage up to five Aadhaar profiles. This enables users to conveniently handle Aadhaar information and updates for multiple family members from one phone.<h3>No more data breaches by third parties</h3>Speaking at the app’s launch, electronics and IT secretary S Krishnan said the government has prioritised privacy, designing the platform around data minimisation. He added that past reports of Aadhaar data leaks were largely due to excessive data collection by third parties, not breaches of the central Aadhaar database. The app also lets users manage up to five Aadhaar profiles on a single device linked to the same mobile number. It enables selective sharing of personal information so only required details are disclosed, and includes a QR code scanning feature for quick and secure identity verification at authorised locations.&nbsp;In an official release, the government said, “The Aadhaar App is a next-generation mobile application designed to provide Aadhaar Number Holders (ANH) with a secure, convenient and privacy-first way to carry, share, show and verify their digital identity.”

In the newly launched Aadhaar aap, users will be able to track their authentication history, allowing them to see where and when their Aadhaar details have been used for verification, giving them greater transparency and control over their digital identity.

The Indian government has launched the new Aadhaar app on Wednesday that will allow people to manage and verify their identities digitally. The move comes with the elimination of the need to submit physical copies of Aadhaar for verification or visiting Aadhaar centres for updating personal details. Key features In the newly launched app, Aadhaar details will be kept securely on mobile devices to eliminate the need to carry and submit a physical Aadhaar card for the purposes of verification. People will also now be able to change addresses and mobile numbers in minutes, subject to Unique Identification Authority of India’s (UIDAI) confirmation. Users will be able to track their authentication history, allowing them to see where and when their Aadhaar details have been used for verification, giving them greater transparency and control over their digital identity. One of the significant features of the new Aadhaar app is its ability to let users share only specific personal details instead of the complete Aadhaar card, easing privacy and security concerns. This limits the chances of data misuse, particularly at places like hotels, where individuals can provide basic information such as name and age without exposing their full details. Another significant upgrade is the family management option, which allows a single mobile device to manage up to five Aadhaar profiles. This enables users to conveniently handle Aadhaar information and updates for multiple family members from one phone. No more data breaches by third parties Speaking at the app’s launch, electronics and IT secretary S Krishnan said the government has prioritised privacy, designing the platform around data minimisation. He added that past reports of Aadhaar data leaks were largely due to excessive data collection by third parties, not breaches of the central Aadhaar database. The app also lets users manage up to five Aadhaar profiles on a single device linked to the same mobile number. It enables selective sharing of personal information so only required details are disclosed, and includes a QR code scanning feature for quick and secure identity verification at authorised locations. In an official release, the government said, “The Aadhaar App is a next-generation mobile application designed to provide Aadhaar Number Holders (ANH) with a secure, convenient and privacy-first way to carry, share, show and verify their digital identity.”

In the newly launched Aadhaar aap, users will be able to track their authentication history, allowing them to see where and when their Aadhaar details have been used for verification, giving them greater transparency and control over their digital identity.

Updating identities in minutes? Govt launches new app to edit, verify Aadhar online: Know key features

Gold shattered records on Thursday by surging past $5,500 per ounce for the first time ever, and silver vaulted past $120 as the surge in precious metals is being driven by escalating geopolitical and economic tensions, a weakening dollar, sustained safe-haven demand, and the US Federal Reserve’s decision to hold interest rates steady. Gold prices set the new record amid US President Donald Trump’s threats of military action against Iran. Gold has already gained more than 27% this year, following a 64% jump in 2025.&nbsp;Spot gold shot up 2.7% to $5,546.29 an ounce after hitting a record high of $5,594.82 earlier in the day. The yellow metal has hit record highs for nine straight sessions in one of the most incredible rallies in precious metals history. Silver followed suit and crossed $120 per ounce, with sharp gains extending from its already strong 2025 performance.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/world/-india-comes-out-on-top-trump-s-trade-chief-greer-says-india-eu-trade-deal-benefits-delhi-1769607267742">‘India comes out on top’: Trump’s trade chief Greer says India-EU trade deal benefits Delhi</a><h2>Precious metals now rival major tech stocks in total market value</h2>&nbsp;&nbsp;The precious metals now rival major tech stocks in total market value, as investors flock to gold and silver amid global uncertainty.&nbsp;This surge in metals is driven by the fears of impending war in Iran and tensions between the US and NATO over Greenland, further adding to financial and geopolitical uncertainty.&nbsp;The latest peak came after Trump said a “massive Armada” was on its way to Iran and that US forces were prepared to act with “speed and violence, if necessary”.These precious metals are considered safe-haven assets.&nbsp;Also Read: <a href="https://www.wionews.com/world/-next-attack-will-be-far-worse-trump-warns-iran-of-armada-in-new-social-media-threat-1769602521176">'Next attack will be far worse': Trump warns Iran of Armada in new social media threat</a><h2>Gold considered safe haven amid economic uncertainty</h2>&nbsp;Gold has been historically prized by investors for its tendency to hold its value, particularly during periods of economic uncertainty or upheaval.The precious metal soared 64 per cent in 2025, a year marked by Trump’s return to the White House and his radical shake-up of international trade and institutions.&nbsp;Other factors include a weak US dollar, central banks buying up metals, and expected interest rate cuts by the US Federal Reserve this year.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/world/-carney-is-sorely-mistaken-trump-threatens-canada-with-100-tariff-if-it-strikes-trade-deal-with-china-1769265986272">‘Carney is sorely mistaken’: Trump threatens Canada with 100% tariff if it strikes trade deal with China</a>&nbsp;<h2>Experts forecast further upside</h2>&nbsp;Moreover, market and bullion analysts are predicting further upside.&nbsp;Bank of America forecasts $6,000 per ounce by spring 2026, calling it a near-term possibility amid the current frenzy, while JP Morgan sees potential for $6,000 longer-term, driven by central bank and investor demand.The metal’s stellar run has also been aided by the declining popularity of other traditional “safe haven” assets such as government bonds, whose lustre has dimmed amid anxiety about the massive debt held by advanced economies, including the US.

Gold has already gained more than 27% this year, following a 64% jump in 2025. The precious metals now rival major tech stocks in total market value, as investors flock to gold and silver amid global uncertainty. These precious metals are considered safe-haven assets.

Gold shattered records on Thursday by surging past $5,500 per ounce for the first time ever, and silver vaulted past $120 as the surge in precious metals is being driven by escalating geopolitical and economic tensions, a weakening dollar, sustained safe-haven demand, and the US Federal Reserve’s decision to hold interest rates steady. Gold prices set the new record amid US President Donald Trump’s threats of military action against Iran. Gold has already gained more than 27% this year, following a 64% jump in 2025. Spot gold shot up 2.7% to $5,546.29 an ounce after hitting a record high of $5,594.82 earlier in the day. The yellow metal has hit record highs for nine straight sessions in one of the most incredible rallies in precious metals history. Silver followed suit and crossed $120 per ounce, with sharp gains extending from its already strong 2025 performance. Also Read: ‘India comes out on top’: Trump’s trade chief Greer says India-EU trade deal benefits Delhi Precious metals now rival major tech stocks in total market value The precious metals now rival major tech stocks in total market value, as investors flock to gold and silver amid global uncertainty. This surge in metals is driven by the fears of impending war in Iran and tensions between the US and NATO over Greenland, further adding to financial and geopolitical uncertainty. The latest peak came after Trump said a “massive Armada” was on its way to Iran and that US forces were prepared to act with “speed and violence, if necessary”. These precious metals are considered safe-haven assets. Also Read: 'Next attack will be far worse': Trump warns Iran of Armada in new social media threat Gold considered safe haven amid economic uncertainty Gold has been historically prized by investors for its tendency to hold its value, particularly during periods of economic uncertainty or upheaval. The precious metal soared 64 per cent in 2025, a year marked by Trump’s return to the White House and his radical shake-up of international trade and institutions. Other factors include a weak US dollar, central banks buying up metals, and expected interest rate cuts by the US Federal Reserve this year. Also Read: ‘Carney is sorely mistaken’: Trump threatens Canada with 100% tariff if it strikes trade deal with China Experts forecast further upside Moreover, market and bullion analysts are predicting further upside. Bank of America forecasts $6,000 per ounce by spring 2026, calling it a near-term possibility amid the current frenzy, while JP Morgan sees potential for $6,000 longer-term, driven by central bank and investor demand. The metal’s stellar run has also been aided by the declining popularity of other traditional “safe haven” assets such as government bonds, whose lustre has dimmed amid anxiety about the massive debt held by advanced economies, including the US.

Gold has already gained more than 27% this year, following a 64% jump in 2025. The precious metals now rival major tech stocks in total market value, as investors flock to gold and silver amid global uncertainty. These precious metals are considered safe-haven assets.

Gold surges past $5,500, silver tops $120 amid Iran tensions, US Fed pause and weakening dollar

Finance Minister Nirmala Sitharaman presented the Economic Survey in Parliament on Thursday (January 29), setting the stage for the Union Budget scheduled for Sunday (February 1). The upcoming Budget will be her ninth in a row, an unprecedented milestone. Traditionally released ahead of the Budget, the Economic Survey offers a glimpse of the economy and outlines the government’s assessment before policy announcements on taxation, spending, and reforms.&nbsp;Indian equity markets rebounded sharply in the latter half of Thursday’s session after a weak start, with benchmark indices recovering from intraday lows as investors responded positively to the Survey’s outlook. The document reaffirmed expectations of stable economic growth, sustained capital expenditure, and a continued emphasis on manufacturing and fiscal discipline. The BSE Sensex jumped over 900 points from its day’s low of 81,707.94 to touch an intraday high of 82,615. By 2:00 pm, the index was trading at 82,615, up 267 points or 0.33 per cent. The NSE Nifty also reclaimed lost ground, rising above 25,400 and trading at 25,433.60, up 91.55 points or 0.34 per cent.&nbsp;Also Read: <a href="https://www.wionews.com/business-economy/india-economic-survey-2026-trump-tariffs-and-global-risks-loom-despite-buoyant-domestic-consumption-1769675215936">India Economic Survey 2026: Trump tariffs and global risks loom despite buoyant domestic consumption</a>&nbsp;Markets had opened lower amid mixed global signals, with the Sensex hitting its lowest level around mid-morning and the Nifty briefly slipping below 25,200. Sentiment turned decisively positive post-noon as the Survey highlighted the government’s continued focus on infrastructure-led growth and prudent fiscal management.&nbsp;<a href="https://www.wionews.com/videos/nepal-elections-preparations-underway-as-parties-finalise-manifestos-1769675770187/embed">https://www.wionews.com/videos/nepal-elections-preparations-underway-as-parties-finalise-manifestos-1769675770187/embed</a><h2>Metal stocks lead the rally</h2>Metal stocks spearheaded the recovery, buoyed by optimism around infrastructure spending and industrial demand highlighted in the Survey. The BSE Metal index surged 2.47 per cent to scale a record high. Hindustan Copper hit a 20 per cent upper circuit, while Nalco rallied 5.75 per cent. Vedanta climbed 3.8 per cent, NMDC gained 3.79 per cent, Jindal Steel rose 3.66 per cent, and Tata Steel advanced 3.61 per cent. Broader markets also recovered from early losses, though performance remained mixed. The BSE 150 MidCap index was marginally lower by 0.05 per cent, while the BSE 250 SmallCap index continued to lag, declining close to 0.5 per cent.<h2>Rupee falls to record low</h2>The rupee fell to a record low of 92.00 against the US dollar in early trade on Thursday (January 29), pressured by persistent demand for the greenback and a cautious global sentiment. Currency market participants said the weakness followed a rebound in the dollar index from its 4.5-year lows after the US Federal Reserve left interest rates unchanged at the end of its first policy meeting of the year. On Wednesday (January 28), the rupee had already closed 31 paise lower, matching its weakest-ever closing level of 91.99 against the dollar.

Here's how stock market reacted to India Economic Survey 2026. Rupee breaches new low against US Dollar

Finance Minister Nirmala Sitharaman presented the Economic Survey in Parliament on Thursday (January 29), setting the stage for the Union Budget scheduled for Sunday (February 1). The upcoming Budget will be her ninth in a row, an unprecedented milestone. Traditionally released ahead of the Budget, the Economic Survey offers a glimpse of the economy and outlines the government’s assessment before policy announcements on taxation, spending, and reforms. Indian equity markets rebounded sharply in the latter half of Thursday’s session after a weak start, with benchmark indices recovering from intraday lows as investors responded positively to the Survey’s outlook. The document reaffirmed expectations of stable economic growth, sustained capital expenditure, and a continued emphasis on manufacturing and fiscal discipline. The BSE Sensex jumped over 900 points from its day’s low of 81,707.94 to touch an intraday high of 82,615. By 2:00 pm, the index was trading at 82,615, up 267 points or 0.33 per cent. The NSE Nifty also reclaimed lost ground, rising above 25,400 and trading at 25,433.60, up 91.55 points or 0.34 per cent. Also Read: India Economic Survey 2026: Trump tariffs and global risks loom despite buoyant domestic consumption Markets had opened lower amid mixed global signals, with the Sensex hitting its lowest level around mid-morning and the Nifty briefly slipping below 25,200. Sentiment turned decisively positive post-noon as the Survey highlighted the government’s continued focus on infrastructure-led growth and prudent fiscal management. https://www.wionews.com/videos/nepal-elections-preparations-underway-as-parties-finalise-manifestos-1769675770187/embed Metal stocks lead the rally Metal stocks spearheaded the recovery, buoyed by optimism around infrastructure spending and industrial demand highlighted in the Survey. The BSE Metal index surged 2.47 per cent to scale a record high. Hindustan Copper hit a 20 per cent upper circuit, while Nalco rallied 5.75 per cent. Vedanta climbed 3.8 per cent, NMDC gained 3.79 per cent, Jindal Steel rose 3.66 per cent, and Tata Steel advanced 3.61 per cent. Broader markets also recovered from early losses, though performance remained mixed. The BSE 150 MidCap index was marginally lower by 0.05 per cent, while the BSE 250 SmallCap index continued to lag, declining close to 0.5 per cent. Rupee falls to record low The rupee fell to a record low of 92.00 against the US dollar in early trade on Thursday (January 29), pressured by persistent demand for the greenback and a cautious global sentiment. Currency market participants said the weakness followed a rebound in the dollar index from its 4.5-year lows after the US Federal Reserve left interest rates unchanged at the end of its first policy meeting of the year. On Wednesday (January 28), the rupee had already closed 31 paise lower, matching its weakest-ever closing level of 91.99 against the dollar.

Finance Minister Nirmala Sitharaman presented the India Economic Survey 2026 on Thursday (January 29). Sensex jumped over 900 points from the day's low to close in the green

The India Economic Survey 2026 , released on Thursday (Jan 29), notes that global headwinds led mainly by Trump tariffs, trade wars, geopolitical instability and protectionalism are risks, even as domestic demand remains strong. The Survey, tabled in parliament by Finance Minister Nirmala Sitharaman ahead of Union Budget 2026, states that rupee volatility and inconclusive trade talks with the US are external risks. Here are the key global aspects affecting India, as per the Economic Survey<h2>Indian economy thriving amid a fragile and uncertain global backdrop</h2>The Survey flags slower growth in major economies, trade disruptions, and heightened geopolitical uncertainty. Weaker growth among key trading partners could affect India’s export momentum and external demand. The global shocks could affect capital flows, exchange rates, and financial market sentiment.<a href="https://www.wionews.com/videos/davos-2026-can-india-become-the-third-largest-economy-1768976462733/embed">https://www.wionews.com/videos/davos-2026-can-india-become-the-third-largest-economy-1768976462733/embed</a><h2>Trump tariff effect: How US trade policy is affecting the Indian economy</h2>The Survey highlights the impact of US trade policy under President Donald Trump, including the imposition of a 25 per cent reciprocal tariff along with an additional 25 per cent penalty (for buying Russian oil) on several Indian exports during 2025. These punitive measures created uncertainty for exporters.Despite this, the Survey notes that India’s export performance remained relatively resilient due to diversification of markets, including the European Union, the United Kingdom and West Asia.Tariffs, non-tariff barriers, and strategic trade policies are increasingly being used as geopolitical tools, leading to uncertainty in global supply chains and weakening the predictability of trade flows.Also read: <a href="https://www.wionews.com/india-news/economic-survey-2025-26-tabled-in-lok-sabha-india-needs-8-growth-to-achieve-viksit-bharat-dream-by-2047-what-it-says-about-india-s-growth-outlook-1769670492894">India needs 8% growth to achieve ‘Viksit Bharat’ dream by 2047; Here's what Economic Survey 2025–26 says about India growth outlook</a>&nbsp;<h2>Rupee volatility as a global risk channel</h2>The Survey highlights heightened volatility in the Indian rupee as a consequence of global shocks.The Indian rupee fell to record lows in early 2026, driven by foreign portfolio outflows, importer demand for dollars, and uncertainty linked to US tariffs and global risk aversion.While the Survey notes that rupee volatility reflects global financial stress, it adds that this has not materially damaged India’s growth outlook so far. In fact, rupee depreciation has partly cushioned exporters by offsetting some of the tariff-related cost pressures. However, the Survey cautions that sustained currency volatility could affect capital flows, inflation expectations, and external financing conditions.<h2>There is a catch: Full impact of global shocks might be felt only after some time</h2>The Survey issues a warning that global shocks often affect India with a lag. Even if near-term growth appears resilient, global disruptions could gradually affect exports, investment flows, technology transfers, and financial markets. Trade shocks, in particular, may show delayed effects as contracts adjust and supply chains reconfigure over time.Also read: <a href="https://www.wionews.com/india-news/economic-survey-2025-26-big-takeaways-growth-to-remain-steady-but-external-risks-a-worry-1769674329693">Economic Survey 2025-26 big takeaways: Growth to remain steady but external risks a worry</a>&nbsp;<h2>Domestic demand as the silver lining</h2>Strong domestic demand is highlighted as a key buffer against global headwinds. Private consumption, public investment, and domestic capital formation continue to support growth even as external demand remains uncertain, according to the Survey.The Survey’s growth projection for India, at around 6.8 to 7.2 per cent for FY27, is driven primarily by domestic demand rather than external conditions.Also read: <a href="https://www.wionews.com/india-news/gdp-growth-lower-deficit-strong-exports-set-budget-2026-tone-key-numbers-from-economic-survey-1769666745991">GDP growth, lower deficit, strong exports set Budget 2026 tone -- Key numbers from Economic Survey</a><h2>Fragmented global policies and investor sensitivity</h2>The Survey notes that global policy frameworks have become increasingly fragmented, &nbsp;unpredictable, and often politically-driven, affecting cross-border investment and trade.Investors are highly sensitive to political risk, trade barriers, and regulatory uncertainty. India’s challenge, according to the Survey, is to navigate this fragmented global environment while maintaining macroeconomic stability and investor confidence.<h2>Strategic tensions affecting global capital flows</h2>The Survey addresses specific vulnerabilities arising from US trade relations and currency fluctuations, noting their interaction with broader global dynamics.Capital flows are increasingly shaped by geopolitical alignments and strategic considerations rather than purely economic factors. The global economy is becoming segmented into blocs, with strategic capital, technology restrictions, and export controls playing a larger role, it noted.Capital flows are moving along geopolitical fault lines, with investment increasingly directed toward countries seen as aligned within specific geostrategic groupings.<h2>US re-vevaluation of economic ties affecting global economy, and India</h2>The Survey highlights challenges arising from trade uncertainty, including protectionism, retaliatory tariffs, strategic decoupling, and the use of security considerations as tools in trade policy. The US is re-evaluating alliances and placing greater emphasis on bilateral trade arrangements over multilateral frameworks, alongside the growing use of export licensing and restrictive trade practices.<h2>Crude price didn't affect inflation, but…</h2>While the Survey does not point to direct inflationary pressure from crude oil prices at present, it flags risks linked to the global energy transitions. This transition is increasingly dependent on critical minerals, which could be affected by strategic choke points, trade restrictions, and geopolitical tensions, it indicated. The Survey also warned about emerging geostrategic tensions related to artificial intelligence, particularly around export controls, technology transfer restrictions, and the potential weaponisation of advanced technologies.

India Economic Survey 2026 warns of global risks arising from Trump tariffs, trade wars, rupee volatility and geopolitical tensions. Strong domestic demand is cushioning growth. But there is a catch...

The India Economic Survey 2026 , released on Thursday (Jan 29), notes that global headwinds led mainly by Trump tariffs, trade wars, geopolitical instability and protectionalism are risks, even as domestic demand remains strong. The Survey, tabled in parliament by Finance Minister Nirmala Sitharaman ahead of Union Budget 2026, states that rupee volatility and inconclusive trade talks with the US are external risks. Here are the key global aspects affecting India, as per the Economic Survey Indian economy thriving amid a fragile and uncertain global backdrop The Survey flags slower growth in major economies, trade disruptions, and heightened geopolitical uncertainty. Weaker growth among key trading partners could affect India’s export momentum and external demand. The global shocks could affect capital flows, exchange rates, and financial market sentiment. https://www.wionews.com/videos/davos-2026-can-india-become-the-third-largest-economy-1768976462733/embed Trump tariff effect: How US trade policy is affecting the Indian economy The Survey highlights the impact of US trade policy under President Donald Trump, including the imposition of a 25 per cent reciprocal tariff along with an additional 25 per cent penalty (for buying Russian oil) on several Indian exports during 2025. These punitive measures created uncertainty for exporters. Despite this, the Survey notes that India’s export performance remained relatively resilient due to diversification of markets, including the European Union, the United Kingdom and West Asia. Tariffs, non-tariff barriers, and strategic trade policies are increasingly being used as geopolitical tools, leading to uncertainty in global supply chains and weakening the predictability of trade flows. Also read: India needs 8% growth to achieve ‘Viksit Bharat’ dream by 2047; Here's what Economic Survey 2025–26 says about India growth outlook Rupee volatility as a global risk channel The Survey highlights heightened volatility in the Indian rupee as a consequence of global shocks. The Indian rupee fell to record lows in early 2026, driven by foreign portfolio outflows, importer demand for dollars, and uncertainty linked to US tariffs and global risk aversion. While the Survey notes that rupee volatility reflects global financial stress, it adds that this has not materially damaged India’s growth outlook so far. In fact, rupee depreciation has partly cushioned exporters by offsetting some of the tariff-related cost pressures. However, the Survey cautions that sustained currency volatility could affect capital flows, inflation expectations, and external financing conditions. There is a catch: Full impact of global shocks might be felt only after some time The Survey issues a warning that global shocks often affect India with a lag. Even if near-term growth appears resilient, global disruptions could gradually affect exports, investment flows, technology transfers, and financial markets. Trade shocks, in particular, may show delayed effects as contracts adjust and supply chains reconfigure over time. Also read: Economic Survey 2025-26 big takeaways: Growth to remain steady but external risks a worry Domestic demand as the silver lining Strong domestic demand is highlighted as a key buffer against global headwinds. Private consumption, public investment, and domestic capital formation continue to support growth even as external demand remains uncertain, according to the Survey. The Survey’s growth projection for India, at around 6.8 to 7.2 per cent for FY27, is driven primarily by domestic demand rather than external conditions. Also read: GDP growth, lower deficit, strong exports set Budget 2026 tone -- Key numbers from Economic Survey Fragmented global policies and investor sensitivity The Survey notes that global policy frameworks have become increasingly fragmented, unpredictable, and often politically-driven, affecting cross-border investment and trade. Investors are highly sensitive to political risk, trade barriers, and regulatory uncertainty. India’s challenge, according to the Survey, is to navigate this fragmented global environment while maintaining macroeconomic stability and investor confidence. Strategic tensions affecting global capital flows The Survey addresses specific vulnerabilities arising from US trade relations and currency fluctuations, noting their interaction with broader global dynamics. Capital flows are increasingly shaped by geopolitical alignments and strategic considerations rather than purely economic factors. The global economy is becoming segmented into blocs, with strategic capital, technology restrictions, and export controls playing a larger role, it noted. Capital flows are moving along geopolitical fault lines, with investment increasingly directed toward countries seen as aligned within specific geostrategic groupings. US re-vevaluation of economic ties affecting global economy, and India The Survey highlights challenges arising from trade uncertainty, including protectionism, retaliatory tariffs, strategic decoupling, and the use of security considerations as tools in trade policy. The US is re-evaluating alliances and placing greater emphasis on bilateral trade arrangements over multilateral frameworks, alongside the growing use of export licensing and restrictive trade practices. Crude price didn't affect inflation, but… While the Survey does not point to direct inflationary pressure from crude oil prices at present, it flags risks linked to the global energy transitions. This transition is increasingly dependent on critical minerals, which could be affected by strategic choke points, trade restrictions, and geopolitical tensions, it indicated. The Survey also warned about emerging geostrategic tensions related to artificial intelligence, particularly around export controls, technology transfer restrictions, and the potential weaponisation of advanced technologies.

India Economic Survey 2026 warns of global risks arising from Trump tariffs, trade wars, rupee volatility and geopolitical tensions. Strong domestic demand is cushioning growth. But there is a catch...

India Economic Survey 2026: Trump tariffs and global risks loom despite buoyant domestic consumption

As a trade deal between India and the United States stays elusive, with the threat of US President Donald Trump tariffs hanging over New Delhi, how exposed is the Indian rupee to global political shocks? The Economic Survey 2025–26 offers a cautious answer. Here's what it says.<h2>Rupee underperformed in 2025</h2>The Economic Survey acknowledges that the Indian rupee "underperformed in 2025" with the nation running a "trade deficit in goods"."Its net trade surplus in services and remittances is not enough to offset it. India depends on foreign capital flows to maintain a healthy balance of payments. When they run drier, rupee stability becomes a casualty."Also read | <a href="https://www.wionews.com/india-news/economic-survey-2025-26-tabled-in-lok-sabha-india-needs-8-growth-to-achieve-viksit-bharat-dream-by-2047-what-it-says-about-india-s-growth-outlook-1769670492894">India needs 8% growth to achieve ‘Viksit Bharat’ dream by 2047; Here's what Economic Survey 2025–26 says about growth outlook</a><h2>Can the Indian rupee survive Trump's tariff tantrums?</h2>According to the Economic Survey, India's external position is stronger than in past cycles, but the rupee is far from insulated from turbulence driven by US policy shifts.It points out that despite the rupee's valuation, "Growth is good; the outlook remains favourable; inflation is contained; rainfall and agricultural prospects are supportive; external liabilities are low; banks are healthy; liquidity conditions are comfortable; credit growth is respectable; corporate balance sheets are strong; and the overall flow of funds to the commercial sector is robust.""The rupee’s valuation does not accurately reflect India’s stellar economic fundamentals," which means that the rupee "is punching below its weight," it adds.This undervaluation of the Indian rupee "does not hurt", it says, adding that this "offsets to some extent the impact of higher American tariffs on Indian goods," adding, "and there is no threat of higher inflation from higher-priced crude oil imports now." However, it notes that this "does cause investors to pause," and states that this reluctance warrants examination.Also read | <a href="https://www.wionews.com/india-news/nirmala-sitharaman-tables-economic-survey-2025-26-in-parliament-ahead-of-union-budget-on-feb-1-1769669170996">Nirmala Sitharaman tables Economic Survey 2025-26 in Parliament</a><h2>Times of high global uncertainity</h2>The Survey flags a sharp rise in global economic uncertainty, driven by geopolitical fragmentation and policy unpredictability, especially in major economies like the US and China."Global economic uncertainty remains elevated compared to historical trends, primarily on account of fragmentation in geopolitical relationships and lower visibility on policy continuity."It notes that shifting trade relations and tariff regimes are already affecting capital flows. Global FDI declined 11 per cent in 2024, excluding a few conduit economies, it notes, citing the United Nations Conference on Trade and Development’s (UNCTAD)In short, the Economic Survey suggests that the rupee is better positioned than in past global crises, but not shielded.

The Economic Survey 2025–26 says that in 2025, the rupee underperformed due to India’s goods trade deficit and reliance on foreign capital. But, can it survive US President Donald Trump's tantrums? All you need to know.

As a trade deal between India and the United States stays elusive, with the threat of US President Donald Trump tariffs hanging over New Delhi, how exposed is the Indian rupee to global political shocks? The Economic Survey 2025–26 offers a cautious answer. Here's what it says. Rupee underperformed in 2025 The Economic Survey acknowledges that the Indian rupee "underperformed in 2025" with the nation running a "trade deficit in goods". "Its net trade surplus in services and remittances is not enough to offset it. India depends on foreign capital flows to maintain a healthy balance of payments. When they run drier, rupee stability becomes a casualty." Also read | India needs 8% growth to achieve ‘Viksit Bharat’ dream by 2047; Here's what Economic Survey 2025–26 says about growth outlook Can the Indian rupee survive Trump's tariff tantrums? According to the Economic Survey, India's external position is stronger than in past cycles, but the rupee is far from insulated from turbulence driven by US policy shifts. It points out that despite the rupee's valuation, "Growth is good; the outlook remains favourable; inflation is contained; rainfall and agricultural prospects are supportive; external liabilities are low; banks are healthy; liquidity conditions are comfortable; credit growth is respectable; corporate balance sheets are strong; and the overall flow of funds to the commercial sector is robust." "The rupee’s valuation does not accurately reflect India’s stellar economic fundamentals," which means that the rupee "is punching below its weight," it adds. This undervaluation of the Indian rupee "does not hurt", it says, adding that this "offsets to some extent the impact of higher American tariffs on Indian goods," adding, "and there is no threat of higher inflation from higher-priced crude oil imports now." However, it notes that this "does cause investors to pause," and states that this reluctance warrants examination. Also read | Nirmala Sitharaman tables Economic Survey 2025-26 in Parliament Times of high global uncertainity The Survey flags a sharp rise in global economic uncertainty, driven by geopolitical fragmentation and policy unpredictability, especially in major economies like the US and China. "Global economic uncertainty remains elevated compared to historical trends, primarily on account of fragmentation in geopolitical relationships and lower visibility on policy continuity." It notes that shifting trade relations and tariff regimes are already affecting capital flows. Global FDI declined 11 per cent in 2024, excluding a few conduit economies, it notes, citing the United Nations Conference on Trade and Development’s (UNCTAD) In short, the Economic Survey suggests that the rupee is better positioned than in past global crises, but not shielded.

The Economic Survey 2025–26 says that in 2025, the rupee underperformed due to India’s goods trade deficit and reliance on foreign capital. But can it survive US President Donald Trump's tantrums? All you need to know.

How safe is the rupee from Trump's tantrums? Economic Survey 2025-26 reveals risks

Indian Union Finance Minister Nirmala Sitharaman tabled the Economic Survey in Parliament on Thursday (Jan 29), The survey that &nbsp;formally kicks off the countdown to the Union Budget to be presented on Sunday, February 1, projected the GDP growth in the range of 6.8 to 7.2 per cent in 2026-27, which is marginally lower than 7.4 per cent estimated in the current fiscal.<h2>What is the Economic Survey?</h2>The Economic Survey is often described as India’s annual "report card". It offers a data-heavy review of how the economy performed over the past year and sets the tone for what lies ahead. While the Budget focuses on future decisions, the Survey explains the past, what worked, what did not, and where the risks lie. In practical terms, it gives policymakers and lawmakers the context behind the numbers that will appear in the Budget speech.&nbsp;ALSO READ: <a href="https://www.wionews.com/india-news/missing-a-deadline-by-28-days-may-have-cost-ajit-pawar-his-life-what-is-gagan-the-satellite-system-his-learjet-didn-t-have-1769664892173">Missing a deadline by 28 days may have cost Ajit Pawar his life; What is GAGAN? The satellite system his Learjet didn't have</a><h2>Here we take a look the big takeaways of the survey</h2><ul><li>Strong, stable currency is aimed to achieve the goal of Viksit Bharat and global influence</li><li>Falling rupee valuation due to foreign capital flows drying up does not accurately reflect India’s stellar economic fundamentals</li><li>India needs to produce competitively to realise the potential of trade agreements</li><li>FY27 will marginally be slower due to the GST rejig, despite reforms converting global uncertainty into opportunity</li><li>State-level fiscal populism is a concern, while rising revenue deficit and conditional cash transfers are crowding out capital expenditure</li><li>Geopolitics, trade fragmentation, and leveraged AI investments pose heightened risks</li><li>India has strong domestic fundamentals but there is persistent external vulnerability via capital flows and currency pressures &nbsp;</li></ul>

The economic survey gives policymakers and lawmakers the context behind the numbers that will appear in the Budget to be  presented in the parliament on Sunday, February 1.

Indian Union Finance Minister Nirmala Sitharaman tabled the Economic Survey in Parliament on Thursday (Jan 29), The survey that formally kicks off the countdown to the Union Budget to be presented on Sunday, February 1, projected the GDP growth in the range of 6.8 to 7.2 per cent in 2026-27, which is marginally lower than 7.4 per cent estimated in the current fiscal. What is the Economic Survey? The Economic Survey is often described as India’s annual "report card". It offers a data-heavy review of how the economy performed over the past year and sets the tone for what lies ahead. While the Budget focuses on future decisions, the Survey explains the past, what worked, what did not, and where the risks lie. In practical terms, it gives policymakers and lawmakers the context behind the numbers that will appear in the Budget speech. ALSO READ: Missing a deadline by 28 days may have cost Ajit Pawar his life; What is GAGAN? The satellite system his Learjet didn't have Here we take a look the big takeaways of the survey Strong, stable currency is aimed to achieve the goal of Viksit Bharat and global influence Falling rupee valuation due to foreign capital flows drying up does not accurately reflect India’s stellar economic fundamentals India needs to produce competitively to realise the potential of trade agreements FY27 will marginally be slower due to the GST rejig, despite reforms converting global uncertainty into opportunity State-level fiscal populism is a concern, while rising revenue deficit and conditional cash transfers are crowding out capital expenditure Geopolitics, trade fragmentation, and leveraged AI investments pose heightened risks India has strong domestic fundamentals but there is persistent external vulnerability via capital flows and currency pressures

The economic survey gives policymakers and lawmakers the context behind the numbers that will appear in the Budget to be &nbsp;presented in the parliament on Sunday, February 1.

Economic Survey 2025-26 big takeaways: Growth to remain steady but external risks a worry

Is OpenAI secretly working on a social media platform? The makers of the popular AI chatbot ChatGPT are reportedly building a social media app with a unique method to ensure that all users are human, not bots. First reported by Forbes on Wednesday (Jan 28), the social network is said to be in the early stages of development.<h2>What reports say about OpenAI’s social network project</h2>According to the reports, a small team of fewer than 10 people is working on the project. The app is expected to position itself as a bot-free alternative to X (formerly Twitter), Facebook and other social media platforms. Bots, mostly AI-generated accounts, are increasingly becoming a serious issue on social media. In some cases, they are believed to outnumber genuine human users on certain platforms, degrading trust and authenticity.<h2>How will OpenAI social media ensure users are human, not bots?</h2>Reports claim that biometric verification may be used to establish “proof of personhood”. Forbes, citing people familiar with the project, said the methods under discussion could include iris scanning similar to that used by World Network (formerly Worldcoin), or facial recognition technology such as Apple’s Face ID. The idea is to verify that each account belongs to a real person, while limiting the creation of multiple or automated identities.<h2>Possible link to World Network and Worldcoin</h2>There is growing speculation that World Network, which owns the cryptocurrency Worldcoin, could be involved in providing biometric identification technology. World Network’s Orb device generates unique, privacy-focused digital identifiers through iris scans. Sam Altman, the CEO of OpenAI, has direct ties to this project, having been a co-founder of Worldcoin. Altman also serves as chair of Tools for Humanity, the company behind the World Network and its biometric identity system. The project was originally intented a global system for proving human identity online, alongside a cryptocurrency incentive model.While no formal partnership between OpenAI and World Network has been confirmed, reports noted that World Network’s technology is among the options being evaluated. Following the reports, the price of Worldcoin’s WLD token rose, reflecting market speculation about a possible collaboration.<h2>World Network's iris scan success</h2>The World Network project has already verified millions of users globally and has received backing from major tech investors. Although it began as a cryptocurrency-focused venture, its emphasis has shifted towards digital identity and proof-of-personhood infrastructure.Altman has occasionally expressed concerns about the massive infiltration of bots on social media platforms, saying online spaces were becoming less authentic as automated accounts proliferate.At the time of writing, OpenAI has not issued any official statement confirming or denying plans to launch a social media platform. But the reports have generated a lot of curiosity about the potential rise of yet another social media site. &nbsp;

OpenAI is reportedly developing a bot-free social media platform. The secret project might use World Network's biometric ID system, say the reports

Is OpenAI secretly working on a social media platform? The makers of the popular AI chatbot ChatGPT are reportedly building a social media app with a unique method to ensure that all users are human, not bots. First reported by Forbes on Wednesday (Jan 28), the social network is said to be in the early stages of development. What reports say about OpenAI’s social network project According to the reports, a small team of fewer than 10 people is working on the project. The app is expected to position itself as a bot-free alternative to X (formerly Twitter), Facebook and other social media platforms. Bots, mostly AI-generated accounts, are increasingly becoming a serious issue on social media. In some cases, they are believed to outnumber genuine human users on certain platforms, degrading trust and authenticity. How will OpenAI social media ensure users are human, not bots? Reports claim that biometric verification may be used to establish “proof of personhood”. Forbes, citing people familiar with the project, said the methods under discussion could include iris scanning similar to that used by World Network (formerly Worldcoin), or facial recognition technology such as Apple’s Face ID. The idea is to verify that each account belongs to a real person, while limiting the creation of multiple or automated identities. Possible link to World Network and Worldcoin There is growing speculation that World Network, which owns the cryptocurrency Worldcoin, could be involved in providing biometric identification technology. World Network’s Orb device generates unique, privacy-focused digital identifiers through iris scans. Sam Altman, the CEO of OpenAI, has direct ties to this project, having been a co-founder of Worldcoin. Altman also serves as chair of Tools for Humanity, the company behind the World Network and its biometric identity system. The project was originally intented a global system for proving human identity online, alongside a cryptocurrency incentive model. While no formal partnership between OpenAI and World Network has been confirmed, reports noted that World Network’s technology is among the options being evaluated. Following the reports, the price of Worldcoin’s WLD token rose, reflecting market speculation about a possible collaboration. World Network's iris scan success The World Network project has already verified millions of users globally and has received backing from major tech investors. Although it began as a cryptocurrency-focused venture, its emphasis has shifted towards digital identity and proof-of-personhood infrastructure. Altman has occasionally expressed concerns about the massive infiltration of bots on social media platforms, saying online spaces were becoming less authentic as automated accounts proliferate. At the time of writing, OpenAI has not issued any official statement confirming or denying plans to launch a social media platform. But the reports have generated a lot of curiosity about the potential rise of yet another social media site.

OpenAI is reportedly developing a bot-free social media platform. The secret project might use World Network's biometric ID system, say the reports

OpenAI ‘secret social media project’ may use this unique method to ensure users are human, not bots, say reports