Catch Live updates here: https://indianexpress.com/article/india/budget-2026-live-updates-nirmala-sitharaman-union-budget-highlights-income-tax-slabs-goods-cost-10505936/

☕ *Your Expresso is ready!* 📬 *Get this delivered straight to your inbox:* https://indianexpress.com/newsletters/ *Read this newsletter in a single page:* https://indianexpress.com/article/live-news/top-news-today-briefing-ajit-pawar-death-10500688/ Good morning, Ajit Pawar, Maharashtra’s Deputy Chief Minister and NCP leader, was killed in a plane crash on Wednesday morning at Baramati airport. He was travelling to Pune on a chartered aircraft along with his security officer Vidip Jadhav, flight attendant Pinky Mali, pilot Captain Sumit Kapoor, and co-pilot Captain Shambhavi Pathak. All five died in the crash. Eyewitnesses said Pawar was identified by his wristwatch — a detail that struck a grim chord with party workers, for whom the clock is also the symbol of the NCP. His last rites will be held today at 11 am at the Vidya Pratishthan ground in Baramati. https://www.inexp.in/mAlJuv What happened? The aircraft, a Bombardier Learjet 45, took off from the Mumbai airport and was airborne for around 35 minutes. It was attempting to land at Baramati, a small regional airstrip used mainly for pilot training, lacking navigational aids for low-visibility conditions. 👉 In the pilot’s final communications, he reported that the runway was not in sight, forcing a second landing attempt. The aircraft reportedly slipped and crashed into a rock. Trace the crucial 26 minutes leading up to the crash. https://www.inexp.in/YTS0QW 👉 Significantly, a Parliamentary panel had earlier warned that aviation safety oversight has failed to keep pace with the rapid expansion of private and charter aircraft operations. https://www.inexp.in/mkmPdz 👉 The Aircraft Accident Investigation Bureau (AAIB) has taken charge of the probe. On Wednesday, investigators visited the Delhi office of VSR Aviation, the operator of the jet. Owned by two pilots, the firm has expanded rapidly in recent years. https://www.inexp.in/UIXJKp The legacy: Ajit Pawar’s political journey unfolded in the long shadow of his uncle Sharad Pawar, the founder of the Nationalist Congress Party. The son of Sharad Pawar’s elder brother, Ajit, rose swiftly under his uncle’s patronage, even as he chafed at the constraints of that inheritance. The urge to carve out an independent identity defined his career, first surfacing in 2019 and culminating decisively in 2023, when he split the NCP. https://www.inexp.in/oQyg4p 👉 In Baramati, the Pawar family stronghold, party workers and residents grieved Ajit Pawar’s death. Read Sunanda Mehta’s ground report. https://www.inexp.in/6vuH5u 👉 His death also deals a blow to the ruling Mahayuti alliance. Chief Minister Devendra Fadnavis had long leaned on Ajit Pawar to counterbalance Shiv Sena leader Eknath Shinde. With Ajit gone, the BJP loses that leverage. https://www.inexp.in/k7AyBh 👉 The larger question now hangs over the NCP itself. Ajit Pawar’s death could pave the way for a reunification of the split factions — a scenario that would further unsettle the ruling alliance. If not, who steps in to lead the party? We break down the contenders. https://www.inexp.in/S9lgLH 👉 Finally, we revisit the corruption cases that followed Ajit Pawar, from the Rs 1,300-crore Maharashtra State Cooperative Bank case to the Rs 70,000-crore irrigation projects controversy linked to his tenure as Water Resources Minister. https://www.inexp.in/Ba70C6 Loksatta editor Girish Kuber writes: Ajit Pawar was a man in a hurry, even when the destination was not in sight https://www.inexp.in/scH22Y That’s all for today. Until tomorrow, Sonal Gupta

☕ *Your Expresso is ready!* 📬 *Get this delivered straight to your inbox:* https://indianexpress.com/newsletters/ *Read this newsletter in a single page:* https://indianexpress.com/article/live-news/top-news-today-briefing-10502748/ Good morning, Will the two factions of the Nationalist Congress Party (NCP) merge? Turns out, the plan was already in place before the untimely demise of Ajit Pawar. The Indian Express has learnt that the party was preparing to announce its reunification on February 8, after the zilla parishad election results. NCP leaders have said that while Pawar's death may have cast uncertainty over the timeline, the underlying process remains intact. The merger may also mark the return of Sharad Pawar-led NCP to the government. Alok Deshpande brings you the inside information. https://www.inexp.in/lgu-ep On that note, let’s get into the rest of today’s edition.👇 🚨 *Big Story* The government tabled the Economic Survey 2025-26, an annual review of India's economic performance, in Parliament yesterday. Here's what you should know: 👉 Chief Economic Advisor V Anantha Nageswaran has flagged the adverse impact of geopolitics on the rupee's stability. He noted that India's "strongest macroeconomic performance in decades" has collided with a "global system that no longer rewards macroeconomic success with currency stability, capital inflows or strategic insulation." https://www.inexp.in/77wLEf 👉 The Survey flags the drying up of foreign capital inflows and subdued investor sentiment towards India. Proactive reforms may be needed to attract more foreign investment. https://www.inexp.in/KO86xB 👉 It also pointed out the relative "lack of investment appetite" among Indian corporates compared to private corporations in post-war America, Germany, Japan and East Asia. It said that Swadeshi was "inevitable and necessary" in the face of a volatile global trading environment. https://www.inexp.in/jHI6no 👉 The survey also makes several recommendations that could be among the focus points of the upcoming Union Budget, including: reducing government shareholding in listed public sector undertakings, further correcting inverted duty structures and focusing on input tariff neutrality. https://www.inexp.in/e1MeQa We also asked two experts for their takeaways from the Economic Survey. Subhash Chandra Garg, former Finance and Economic Affairs Secretary, writes that the Survey offers no analysis of even one government policy or programme failure. “ES-26 will adorn bookshelves, instead of being read and discussed.” https://www.inexp.in/sEsrFs Meanwhile, Dharmakirti Joshi, chief economist at Crisil, writes that the Survey has evolved from analysis to advocacy, and this year, it urges the private sector to scale up investment in infrastructure building. https://www.inexp.in/VCC+ZI ⚡ *Only in Express* In 2018, the BJP government enacted the Uttarakhand Freedom of Religion Act (UFRA) to curb "forced religious conversions". In the nearly seven years since, several arrests have been made, but judicial scrutiny has often undercut the state's claim. An investigation by The Indian Express into court records reveals that, so far, only five cases have gone to full trial, and all resulted in acquittals. Why don’t these cases hold up in court? Read Aiswarya Raj’s report. https://www.inexp.in/tn9p8O 📰 *From the Front Page* Hold on: The Supreme Court has stayed the University Grants Commission (Promotion of Equity in Higher Education Institutions) Regulations, 2026 — the new rules addressing caste discrimination in educational institutions. The court observed that they raised pertinent questions, which, if left unexamined, could "divide society". https://www.inexp.in/PmGHPf But what has changed in the 2026 regulations compared to the 2012 guidelines? Mainly, there are differences in definitions. We explain. https://www.inexp.in/55jZvG 🎧 For more on the UGC rules, tune in to today’s ‘3 Things’ podcast episode. https://www.inexp.in/oCRF2T 📌 *Must Read* Divine questions: Twelve years ago, Ashutosh Maharaj, founder of the Divya Jyoti Jagrati Sansthan (DJJS), was declared clinically dead. Yet his body still lies at the sect’s vast Nurmahal ashram, kept “alive” under medical supervision. His followers insist he is not dead, but in a state of “deep meditation”. Some await his “return”. In the years since, their numbers have only grown. So, what’s keeping the dera chief alive all this time — faith or science? https://www.inexp.in/eoSwAI ⏳ *And Finally...* Last year, Gujarat became the only state in India to house all three big cats, tigers, lions, and leopards. A lone four-year-old Royal Bengal Tiger was spotted in the Ratanmahal corridor, and the state intends to keep it. A breeding centre, which seeks to boost the prey (deer and sambar) population, is crucial in that effort. Read all about it. https://www.inexp.in/O8w-2A That’s all for today, folks! Happy weekend, Sonal Gupta

All the Budget updates here: https://indianexpress.com/article/india/budget-2026-live-updates-nirmala-sitharaman-union-budget-highlights-income-tax-slabs-goods-cost-10505936/

US agrees to trade deal, will cut reciprocal tariff on India to 18% from 50% https://indianexpress.com/article/world/us-agrees-to-cut-reciprocal-tariff-on-india-to-18-10509835/

☕ *Your Expresso is ready!* 📬 *Get this delivered straight to your inbox:* https://indianexpress.com/newsletters/ *Read this newsletter in a single page:* https://indianexpress.com/article/live-news/top-news-today-briefing-india-us-trade-deal-10510375/ Good morning, Late last night, India and the United States struck a trade deal, capping nearly 12 months of a turbulent journey. The US has agreed to bring down the 50% tariffs to 18%. The announcement: Trump announced the deal, underscoring two key points. One, India would stop buying oil from Russia and instead purchase it from the US and potentially Venezuela. And two, India would buy American products as part of the $500 billion trade target. On the other hand, Prime Minister Narendra Modi thanked Trump for reducing tariffs and acknowledged his leadership as “vital for global peace, stability, and prosperity.” The statement is significant given that Trump has claimed credit for brokering a ceasefire between India and Pakistan — a claim New Delhi denies. https://www.inexp.in/MS0X7b The flip-flops: India was facing the steepest US tariffs at 50%, including a 25% penalty on its purchase of Russian oil. The Americans frequently chastised India, calling it the “tariff king”, and a top Trump aide even accused India of funding Russia’s war. Ties only began to improve last month with the arrival of the new US Ambassador to India, Sergio Gor. Ravi Dutta Mishra encapsulates the rocky road to the trade deal. https://www.inexp.in/HkSpt1 The fallout: The US tariffs had significantly impacted Indian exports, which declined in September and October. Labour-intensive sectors suffered the most, facing competition from cheaper producers like Vietnam. However, this pushed Indian exporters to diversify. The Indian government also introduced reforms, including overhauling its trade policies and stepping up imports from the US. https://www.inexp.in/wyZ+mI So, what now? Well, the deal reaffirms what had become hazy before. It reiterates that the US sees India as an ally and a counterweight to China. With deals with the UK and the European Union, India now has access to a large part of the Western markets, unlike East Asian economies that have surged ahead on Chinese investments. Read Ravi Dutta Mishra and Anil Sasi’s analysis. https://www.inexp.in/5fSn9k Experts speak: Chief Economic Advisor V Anantha Nageswaran said the deal could bring back the "China+1 strategy", where companies diversify supply chains through investments in China and another country like India or Vietnam. Nilesh Shah, Managing Director at Kotak Mahindra Asset Management, said the deal will likely spur capital flows. Read. https://www.inexp.in/Z2D7cN On that note, let’s get into the rest of today’s edition.👇 What does Gen Naravane’s book say? Focus on Boeing’s switches Will your car become costlier? 📰 *From the Front Page* 'Hot potato': Leader of Opposition Rahul Gandhi set off political fireworks in Parliament after he made references to the unpublished memoirs of former Chief of Army Staff General M M Naravane (Retd). He was citing instances related to China's territorial aggression, which led to a sharp reaction from ministers Rajnath Singh, Amit Shah and Kiren Rijiju. They objected to Gandhi reading from an unreleased book, invoking Rule 349(i), regarding the conduct of business in the Lok Sabha. https://www.inexp.in/XL2LXw Gen Naravane's memoir, titled 'In Four Stars of Destiny', was slated for release in January 2024, but was not published as it was under review by the Indian Army with involvement from the Defence Ministry. The book mentions Gen Naravane's conversations with the Defence Minister Rajnath Singh during the India-China standoff. Read the excerpts here. https://www.inexp.in/zatG5d 🎧 For more on the controversial book, tune in to today’s ‘3 Things’ podcast episode. https://www.inexp.in/W2ZRUC Safety check: One of Air India's Boeing 787 aircraft has been grounded after a pilot flagged a possible defect with its engine fuel control switch. The pilot reported that the switch failed to remain locked in the 'RUN' position on two attempts and moved towards the 'CUTOFF' position. Notably, the engine fuel control switches have been the focus of the probe into the fatal Air India plane crash. https://www.inexp.in/X0ywFl Exit clause: The 16th Finance Commission has flagged a sharp surge in unconditional cash transfers by state governments, particularly of BJP-ruled Maharashtra and Odisha and the Opposition-run Jharkhand. It warned that growing reliance on cash handouts could destabilise state finances, and advised that such schemes should come with a sunset clause. https://www.inexp.in/garyml 📌 *Must Read* Cars may soon get costlier. Vehicle manufacturers like Maruti Suzuki India and Hyundai Motor India have flagged rising input costs. Turns out, aluminium and copper have become expensive now that they are vital to artificial intelligence infrastructure. We explain. https://www.inexp.in/+gqQOG Unfazed: 37-year-old Deepak Kumar, now known as "Mohammad Deepak", was thrust into the limelight after he helped an elderly Muslim shopkeeper who was being harassed by a group of men. Later, members of the Bajrang Dal gathered to confront Deepak, but were restrained by the police. Deepak now faces FIRs and threats of protests, but remains resolute: "someone has to speak up". https://www.inexp.in/iF1tR0 ⏳ *And Finally...* Pakistan's boycott of the match against India in the upcoming T20 World Cup would not only leave fans without a spectacle but also result in revenue losses to the tune of $250 million for stakeholders. At the same time, it severely complicates the math for the Pakistan team, which would have already forfeited two points by refusing to play India. This means they have no room for slip-ups. https://www.inexp.in/rVaiPw That’s all for today, folks! Until tomorrow, Sonal Gupta

☕ *Your Expresso is ready!* 📬 *Get this delivered straight to your inbox:* https://indianexpress.com/newsletters/ *Read this newsletter in a single page:* https://indianexpress.com/article/live-news/daily-briefing-top-news-today-10504732/ *Good morning,* From the shores of the Ganges River in Prayagraj, Kumbh Mela has now made its way down South in Kerala, ahead of the state Assembly elections. Organized on the bathing ghats of the Nava Mukunda Temple at Thirunavaya in Malappuram district, where generations have offered prayers to the souls of the dead, a festival is seeing a revival as a surrogate of the Mela. Thousands are thronging to the ghats for the 18-day Mela, which ends on February 3. The Mela comes a year after Swami Bharati was declared the “Mahamandaleshwar” for South India at the Mahakumbh in Prayagraj. The festival comes at a time when the BJP is making a strong push in the state, buoyed by its recent civic poll performance. https://www.inexp.in/WkY1zs _With that, let’s move on to the top 5 stories from today’s edition:_ 🚨 *Big Story* *‘More than just a trade deal’* : Within days of wrapping up the negotiations for a Free Trade Agreement (FTA) between India and the European Union (EU), Union Commerce and Industry Minister Piyush Goyal highlighted that India is looking at ramping up its manufacturing with technology know-how and investments from European countries that step beyond trade. “It is a strategic and defence partnership… Then there is financial integration. Going forward, a mobility partnership, and they (the EU) have said we would like to do an Investment Protection Agreement,” Goyal said in an interview to The Indian Express. https://www.inexp.in/L5xIme In our _Opinion_ columns today, Shoumitro Chatterjee sheds light on how India’s Free trade agreements with markets in the EU, the UK, and Australia have created a strong platform for its export growth, however, there are challenges. He writes: “The success of India’s FTAs will not be judged by signing ceremonies but by a single metric: Gains in global market share. The opportunity is large. Delivering on it requires credibility with global firms and trading partners — built on standards compliance, simpler regulation, access to competitive inputs, and sustained commitments after agreements are signed.” https://www.inexp.in/R6CSBX ⚡ *Only in Express* _“A baby’s white sweater with pine trees and red trucks. A blue ‘Dad to-be’ badge. Bunches of rakhi, one of those for a Superman fan. Prayer books and prayer beads. A child’s toy. A ghungroo. A pink hair clip with a bow and flowing ribbons. Pink sunglasses with its Barbie paper tag intact. A white metal keychain with a pink rubber heart — on it, ‘Love’ and a couple holding hands.”_ More than six months after Air India’s Boeing 787 Dreamliner crashed in Ahmedabad, killing 241 of the 242 passengers on board, the airline is known to have recovered 22,000 personal belongings of passengers, out of which, 8,000 have been identified. Air India is now reaching out to relatives of the victims with these belongings via emails. Each of these items on the portal is a pause. _The Indian Express_ meets the families as they search for a piece of what they lost. https://www.inexp.in/zkC7zx 💡 *Express Explained* Ahead of the release of the Union Budget 2026, our in-house columnist Udit Misra delves into the three macro worries for the Finance Minister Nirmala Sitharaman, given India’s current economic situation. Even though the new Budget should ideally be a completely new exercise, in reality it isn’t. A new Budget, more often than not, “has limited space — both monetary and policy — to fundamentally alter things,” Misra explains. From weak GDP growth, tax buoyancy, to weak private corporate investments, here are the main concerns he underlines. https://www.inexp.in/rgDvOF ✍️ *Express Opinion* In our _Opinion_ pages today, V Anantha Nageswaran, Chanchal Sarkar, and Mira Sethi make sense of India’s manufacturing sector leap amidst geopolitical uncertainties. They write: “India’s next manufacturing leap will be defined not just by how much it produces, but by what it produces and how strategically indispensable it becomes. The proposed National Manufacturing Mission offers a platform to align reforms, skilling, infrastructure and innovation under a long-term industrial strategy. While these enablers are essential, the ultimate objective must be deeper technological capability, stronger R&D systems, and globally competitive firms embedded in strategic sectors.” https://www.inexp.in/Acz6JI 🎬 *Movie Review* Wondering what to watch this weekend? _Mardaani 3_ is now back to your nearby screens, with Rani Mukerji returning for a third go round of the franchise, as cop Shivani Shivaji Roy, against a new set of antagonists. Shubhra Gupta, in her review of the film, writes: “Shivani gets to deliver the mandatory speech about how girls and women are perpetual victims, and how there will always be brave ones who come to the rescue, which is fine, but the eagerness to frame Mukerji centre-stage– literally in more than one scene– dulls the rest of the enterprise.” https://www.inexp.in/Eh3lYo *_That’s it for today, have a lovely weekend!_* *Until next time,* *Ariba*

*Fresh Take* | Binge-watching or weekly episodes, which do you prefer? While binge-watching offers a certain kind of flexibility, staggered releases bring a much-needed breather and a space to reflect, participate in conversation and revert to a familiar ritual. Aashika Lakhpati writes: https://indianexpress.com/article/fresh-take/weekly-episodes-binge-watching-digital-fatigue-viewing-habits-10511598/

☕ *Your Expresso is ready!* 📬 *Get this delivered straight to your inbox:* https://indianexpress.com/newsletters/ *Read this newsletter in a single page:* https://indianexpress.com/article/live-news/top-news-briefing-budget-2026-10508542/ Good morning, The India-Pakistan match is often the marquee event at cricket tournaments. But fans may be left without the spectacle at the upcoming T20 World Cup, starting February 7. The Pakistan government has directed its team to skip the fixture against India, scheduled for February 15 in Colombo, while allowing it to compete in the tournament. The Pakistan Cricket Board (PCB) is yet to formally convey this decision to the International Cricket Council (ICC). However, the global body issued a statement last evening, cautioning that “selective participation” could carry “long-term implications.” Earlier, Scotland was chosen to play in the World Cup to replace Bangladesh, which had boycotted the tournament. https://www.inexp.in/vnbP6A On that note, let’s get into the rest of today’s edition.👇 * Breaking down Budget 2026 * Bhupender Yadav @ Idea Exchange * Is egg freezing for you? 🚨 *Big Story* In an 83-minute speech, Union Finance Minister Nirmala Sitharaman laid down the key points of India's 80th Union Budget for the year 2026-27. In the face of global headwinds, the Modi 3.0 government has chosen to stay the course in its second year, while focusing on manufacturing to ease tariff-related stress. https://www.inexp.in/vbHIrd What should you know about the Budget? What changes for you? Our reporters and editors break it down: 📌 There were no changes to the Income Tax brackets this year. However, trading futures and options will get more expensive. The government has proposed a hike in the Securities Transaction Tax for F&O to discourage speculative tendencies. Besides, it also had made provisions to bring relief to taxpayers from penalties, and a one-time scheme to disclose foreign assets for small taxpayers. Read. https://www.inexp.in/eZ-aSY 📌 The Budget responds to several US demands, as well as addresses issues arising out of the steep 50% tariffs. The government will give a big tax break to foreign firms providing cloud services using India-based data centres. The move will likely benefit top American companies. It also proposes zero customs duty on nuclear-generation equipment and aircraft components — two key sectors for US firms. Read more. https://www.inexp.in/WBUbC7 📌 You can now bring in duty-free goods worth up to Rs 75,000, up from the current Rs 50,000. The basic customs duty on all goods imported for personal use has also been slashed to 10%, which would mean that buying smartphones and other electronic items from abroad could become cheaper. https://www.inexp.in/OMwzwO 📌 Studying abroad? Well, the government is cutting the Tax Collected on Source for foreign remittances for education or medical expenses, as well as for international travel. This is expected to boost outbound tourism, overseas education, and medical treatments. https://www.inexp.in/Wj7tXJ 📌 The Budget makes a push for growth in employment opportunities. The government will form a standing committee to prioritise areas with potential to create jobs, and assess the impact of artificial intelligence (AI) on key sectors. https://www.inexp.in/yUaqtD The bigger picture: Is the Indian economy witnessing its "goldilocks period"? The GDP is pegged to grow at 7.4% in the current financial year — a robust growth rate. However, there's another way to look at the economy — through the nominal GDP (growth measured in today's prices, with inflation factored in). India's nominal GDP is showing an "extremely weak" rate of growth. What does this mean? What does the Budget say? Our in-house economist Udit Misra explains. https://www.inexp.in/4q5PBO 🎧 Tune in to today’s ‘3 Things’ podcast episode, where Udit Misra joins the host to unpack the Budget. https://www.inexp.in/5OE0vq ⚡ *Only in Express* Bhupender Yadav heads the Union Ministry of Environment, Forests and Climate Change when the global climate governance is in a flux. He is also tasked with tackling India's growing pollution crisis, as well as the BJP's election campaign in the poll-bound West Bengal. He talks about all this, including the row over the Aravallis and the Great Nicobar Island Project, and more, in the latest Idea Exchange session. https://www.inexp.in/khEOfH 📰 *From the Front Page* Will India buy oil from Venezuela? Well, US President Donald Trump indicated as such, adding that the "concept" of such a deal is in place. While there has been no official response, sources say India's decision to buy oil is based on market dynamics and that certain Indian refiners may be keen to restart buying oil from Venezuela. https://www.inexp.in/PkH-Jq 📌 *Must Read* Is egg freezing for you? Women are born with a finite number of eggs, and this reserve begins to decline with the onset of puberty and natural ageing. Lifestyle factors and exposure to pollutants or toxins can further compromise egg quality and fertility. Against this backdrop, a growing number of women are choosing to freeze their eggs. However, high costs mean this choice remains out of reach for many. How do women budget for fertility? Ankita Upadhyay reports. https://www.inexp.in/XAYi3l ⏳ *And Finally...* The day kicked off with the glitz and glamour of the Grammys. Pop sensation Billie Eilish walked away with the “Song of the Year” for “Wildflower”. It was also a big night for Kendrick Lamar and Lady Gaga. Follow live updates here. https://www.inexp.in/7UHcjU That’s all for today, folks! Until tomorrow, Sonal Gupta