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February 6, 2026
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Reserve Bank keeps rates steady and caps digital fraud compensation at Rs 25,000 while courts weigh online right to be forgotten.
The Reserve Bank kept benchmark rates unchanged and announced a consumer compensation cap of Rs 25,000 for digital banking fraud victims; the Supreme Court will examine applying the right to be forgotten to online news while enhancing compensation awards in fatality cases; the election authority rescheduled final electoral rolls and extended objections periods; and the foreign ministry is coordinating with foreign authorities for the release of abducted nationals.
February 6, 2026
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Rupee volatility amid RBI rate pause, geopolitical tensions and oil price rise; reserves surge supports market liquidity
Rupee depreciation against the US dollar was driven by external factors including geopolitical uncertainty over US-Iran talks and rising global crude prices; this weakened the currency to 90.65 despite an earlier intraday appreciation. The Reserve Bank maintained the repo rate, a monetary policy pause that temporarily supported the rupee but did not prevent losses caused by sustained foreign fund outflows; outcome: the rupee closed lower. Concurrently, foreign institutional investment flows and a substantial increase in the forex reserves to a record high materially affected market liquidity and exchange rate dynamics, reinforcing the interplay between capital flows and exchange rate movements.
February 6, 2026
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Eknath Khadse land deal: non-bailable warrant issued after failure to appear in money laundering probe.
Non-bailable warrants were issued after the court rejected vague, undocumented exemption claims and ordered appearance for charge framing in a money laundering prosecution arising from an allegedly undervalued government land purchase; the court found prima facie material of criminal misconduct and sufficient evidence to proceed to trial, and adjourned the matter while similar warrants exist in a related anti-corruption matter.
February 6, 2026
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IndiGo plane experienced landing gear lever issue; manual mode used and aircraft landed safely before resuming flights.
An IndiGo A321 neo on flight 6E2157 experienced a landing gear lever issue that rendered automatic mode inoperative; crew used manual mode to land safely with over 210 persons aboard, the malfunction was addressed, and the aircraft later operated other flights.
February 6, 2026
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Trade deals opposed by unions seeking mass participation in Feb 12 strike over labour codes and agricultural guarantees.
Major workers' and farmers' organisations oppose recent India foreign trade negotiations and domestic policy measures as threats to agriculture, industry, employment and policy autonomy, alleging lack of transparency and stakeholder consultation; they demand parliamentary scrutiny, a legal guarantee of MSP, and rollback of the VB G RAM G Act, while contesting four labour codes as undermining association and collective bargaining rights and objecting to liberalisation measures across insurance, seeds, electricity, education and nuclear liability.
February 6, 2026
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Economy is stronger with stable inflation; central bank signals policy rates likely to stay low and sustain liquidity.
The central bank views growth as improving with stable inflation and expects policy rates to remain low for an extended period; the MPC split on stance with one member for "accommodative" and five for "neutral". Inflation volatility reflects base effects, food prices and commodity moves while core inflation shows no broad pressures. The bank revised up GDP forecasts partly due to an anticipated trade deal, denied active sales of US treasuries though reserve changes can affect holdings, and pledged ongoing liquidity to ensure transmission across credit, money and bond markets. It welcomed liberalisation of foreign investment in insurance and a tax holiday for data centres, and highlighted liquidity and stable funding ratios over cyclical credit-deposit concerns.
February 6, 2026
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NABARD approvals and halted revenue deficit grant risk major fiscal shortfall for state finances, prompting tougher revenue measures.
The state secured 73 project approvals totaling Rs 713.87 crore for 2025-26 across public works and water management, while the stoppage of the revenue deficit grant - a recurring constitutional transfer - is projected to create an almost Rs 50,000 crore shortfall, prompting plans for increased revenue measures and stricter financial management.
February 6, 2026
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AAP leader Lucky Oberoi shot dead in Jalandhar; police pursuing leads, technical analysis and charges filed.
An AAP leader, Lucky Oberoi, was fatally shot outside a Jalandhar gurdwara as CCTV captured an assailant and an accomplice fleeing on a two-wheeler. Police registered charges for murder, common intention and criminal conspiracy under the Bharatiya Nyaya Sanhita and offences under the Arms Act, and report multiple leads. Investigative steps include collection of mobile-tower dumps for technical analysis, IP tracking of an unverified social media claim, and review of reconnaissance possibilities; no organised-crime angle has been confirmed to date.
February 6, 2026
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Jammu and Kashmir tourism budget proposes Rs 180 crore for Amarnath Yatra and increased tourism infrastructure funding.
The budget allocates Rs 180 crore to modernise Shri Amarnath Ji pilgrimage infrastructure in partnership with the Border Roads Organisation, expands environmental infrastructure including a 3.2 MLD sewage treatment plant and solid waste management upgrades, increases tourism and youth affairs capital outlay to Rs 472 crore, and designates Rs 109 crore for culture-sector capital projects focused on heritage revival and museum modernisation.
February 6, 2026
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Jammu and Kashmir seeks economic self-reliance through multi-sector budgets prioritising agriculture, dairy, tourism and infrastructure investments.
The UT government frames economic self reliance as requiring sustained multi sector reforms, directing the budget to agriculture, horticulture, dairy expansion, industry, tourism and handicrafts while treating hydropower as a future, capital intensive revenue source. Operational priorities include strengthening canal irrigation and desilting, protecting productive agricultural land through constrained conversion, finalising the Jammu Master Plan, suspending damaging railway alignments, and allocating social measures such as free LPG cylinders and provisions for Kashmiri Pandits within a realistic fiscal stance.
February 6, 2026
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Sampre Nutrition's subsidiary to build a food processing facility in Egypt on a 30,000 sq m allocated site.
Sampre Nutrition's subsidiary will establish a food processing and confectionery manufacturing facility in Egypt after Orascom Industrial Parks approved allocation of a 30,000 sq m land parcel, enabling cross border expansion of manufacturing capacity and supporting the company's international growth strategy.
February 6, 2026
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India-China border: BJP accuses Congress of ceding territory and questions alleged China funding to Rajiv Gandhi Foundation.
A government spokesperson accused a former ruling party of ceding Indian territory to China and alleged undisclosed Chinese funding to the Rajiv Gandhi Foundation, demanding disclosure of amounts and purposes. The speaker asserted prior failures in border infrastructure and contrasted them with current measures: record defence expenditure, expanded defence manufacturing, construction of border roads and airfields, and assertive military responses to Chinese encroachments.
February 6, 2026
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Vidarbha to become development hub with 6,600 MW secured by a 25 year power purchase agreement and major investments.
Adani Group projects aim to bolster Vidarbha's energy supply through a 3,300 MW thermal plant, revival of a 600 MW project, and a combined 6,600 MW assured by a 25 year power purchase agreement, alongside a proposed Rs 70,000 crore coal gasification complex expected to generate 30,000 direct jobs and an underground mining project prioritising minimal land use and water conservation.
February 6, 2026
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Sabarimala gold case accused secured bail amid alleged collusion between UDF and LDF, says Nitin Nabin.
Allegations that the UDF and the LDF coordinated to secure bail for accused in the Sabarimala gold loss case are presented as a claim of political collusion that harmed religious sentiment and sanatan traditions. The speaker ties this to broader charges of misgovernance, corruption, appeasement, and threats to centres of devotion, and urges public action while promoting a contrasting development and faith protection agenda.
February 6, 2026
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Jammu and Kashmir budget announces welfare, infrastructure and governance measures with Aadhaar based DBT and targeted sectoral investments.
The Jammu and Kashmir 2026-27 budget implements governance reforms by moving all Centrally Sponsored Schemes to the SPARSH system with mandatory Aadhaar-based Direct Benefit Transfers, proposes incentives for hardship area staff and local employment conditions for concessionary industrial units, and funds market support for artisans including a Unity Mall. It allocates major sectoral investments for a Restructured Weather Based Insurance Scheme, CA storage expansion, irrigation subsidies, livestock embryo transfer labs, education and early childhood upgrades, healthcare infrastructure and specialised departments, and social protection measures including scholarships, orphan sponsorships via DBT, transport for persons with disabilities, and six free LPG cylinders yearly for AAY households.
February 6, 2026
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West Bengal interim budget proposes new social payouts, continuation of pensions, and supplementary grants amid funding shortfalls.
The Rs 4.06 lakh crore interim budget increases Lakshmi Bhandar by Rs 500 for women, launches a Rs 1,500 monthly Yuvasathi stipend for unemployed youth while maintaining Yuvasree, preserves widow and old-age pensions, and targets uplift of tribals and backward communities. The finance minister alleges the Centre has withheld GST and project funds, forcing the state to use its resources and move supplementary budgets. Opposition criticised the vote-on-account as an election-oriented proposal and questioned the lawfulness and beneficiary details. A supplementary grant of over Rs 16,994 crore was tabled.
February 6, 2026
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Laser Power & Infra IPO approved to raise Rs 1,200 crore, including an Rs 800 crore fresh issue.
Sebi approved Laser Power & Infra Ltd's initial public offering of up to Rs 1,200 crore, comprising a fresh issue up to Rs 800 crore and an offer for sale up to Rs 400 crore. The company will use net proceeds from the fresh issue primarily to pre pay or repay outstanding borrowings of Rs 600 crore, with the remainder for general corporate purposes.
February 6, 2026
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Central public sector enterprises must prepare for international competition through technology, innovation and leadership development.
Central public sector enterprises must prepare for intensified international competition while maintaining roles in strategic sectors where long-term national interests and market balancing are critical. Emphasis is placed on technology adoption, innovation, leadership development and capacity building-illustrated by the DAKSH programme's blended curriculum and international exposure-to equip senior executives to lead in areas such as cybersecurity, data governance and energy transition while fulfilling public policy objectives.
February 6, 2026
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Union Budget 2026 27 prioritizes infrastructure, manufacturing, health, skill development, and environmental sustainability through targeted allocations.
The Union Budget 2026 27 allocates major capital expenditure to infrastructure, defence and healthcare-approx. Rs.3 lakh crore for roads, Rs.7.5 lakh crore for defence, and about Rs.1 lakh crore for healthcare including Rs.10,000 crore for Biopharma Shakti-coupled with projectised interventions (high speed rail corridors, Delhi Mumbai Expressway 2027 target, Amrit Bharat station redevelopment) and administrative facilitation (single window approvals) to boost manufacturing, logistics efficiency, and workforce skilling.
February 6, 2026
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Kerala land acquisition for Angamaly-Sabarimala rail initiated; state commits 50% funding via KIIFB; revenue authorities begin acquisition.
Kerala has initiated land acquisition for the Angamaly-Sabarimala railway, directed revenue authorities to begin acquisition, and notified the Union Railway Ministry of a financial commitment to bear 50% of project costs with Rs 1,900 crore provided through the Kerala Infrastructure Investment Fund Board.

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J-K CM defends 'manifesto-driven' Budget; BJP calls it partisan, disappointing

February 7, 2026

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Jammu, Feb 6 (PTI) Jammu and Kashmir Chief Minister Omar Abdullah on Friday defended his government's second Budget, asserting that it was only natural for it to reflect the National Conference's priorities and manifesto commitments.

Presenting a Rs 1.27 lakh crore Budget for 2026-27 in the Legislative Assembly, Abdullah said the financial plan aimed to lay a strong foundation for sustainable growth, social harmony and economic prosperity in the Union Territory.

The BJP and the PDP slammed the Budget, calling it partisan and disappointing, while the Congress said the Jammu and Kashmir government was aiming to meet public expectations within limited resources. Both the NC and the Congress had fought the 2024 Assembly polls together.

Addressing a post-Budget press conference, Abdullah dismissed the opposition's criticism, saying they could not "have it both ways" by accusing the government of failing to deliver on its promises and then objecting when those promises were implemented.

"I am not apologetic at all about the allegation that this is a National Conference-centric budget. I would have been devastated if someone had said it was a BJP-centric budget. This is a National Conference government. I’m sorry, but the opposition cannot have it both ways," the chief minister said.

"They keep telling me that I am not fulfilling my manifesto or their manifesto. And then, when I actually begin fulfilling my manifesto promises, they turn around and say this is a National Conference-centric budget," he added.

Abdullah said the NC had a presence in every village across Jammu and Kashmir and was the only political party capable of delivering balanced growth and representation.

Taking a swipe at the opposition, he said its role was to oppose, adding that even positive initiatives were criticised because the opposition aspired to occupy the seats of power but had so far failed to do so.

However, the BJP launched a sharp attack on the Budget, with Leader of Opposition Sunil Sharma terming it "disgusting and disappointing", alleging that it shattered the hopes and aspirations of all sections of society.

He accused the government of preparing a partisan document that disproportionately benefits constituencies represented by ruling party MLAs while completely neglecting the genuine concerns of the common people.

“The budget fails to address the long-pending issues of daily wagers, who have been offered only ‘toffees’ instead of meaningful relief or regularisation. It shows no serious commitment toward providing employment opportunities to the unemployed youth of Jammu and Kashmir,” he said, describing the budget as “disgusting and disappointing”.

"The government is merely showcasing centrally sponsored schemes as its own achievements while failing to bring any substantial new initiatives or relief measures for the people of J&K,” Sharma said.

Jammu and Kashmir BJP President and Rajya Sabha MP Sat Sharma termed the budget “lacklustre, directionless and nothing more than a recycled compilation of centrally sponsored schemes”, alleging that it exposed “hollow governance and broken promises” of the NC government.

"The government is repackaging central initiatives without introducing new policies suited to local needs," he said.

BJP MLA Shagun Parihar said the Budget failed to offer solutions to the problems faced by people.

Echoing similar views, Peoples Democratic Party (PDP) MLA Waheed-ur-Rehman Para termed the Budget “very disappointing”, stating that it lacked measures for daily wagers, employees, unemployed youth and farmers.

"The expectations of the general public from this budget were very high... It is a very disappointing Budget. Unfortunately, we had hoped that issues related to daily wagers, employees, the unemployed, and farmers would be addressed," he said.

The Jammu and Kashmir unit of the Congress termed the Budget as an effort by the government to address the development, welfare and employment needs while attempting to meet public expectations within limited financial resources.

“The budgetary proposals aim to address developmental, welfare and employment needs, keeping in view the limited scope within the resources available to the UT government, as stated by the chief minister himself,” Pradesh Congress Committee (PCC) chief spokesperson Ravinder Sharma said.

In his preliminary reaction to the budget, he said the government's priorities appear to be aligned with meeting public needs and expectations, but the Union Territory requires substantial financial support from the Centre in view of its peculiar circumstances and the prolonged period of political uncertainty.

The Congress leader said the Centre must step forward to address the special needs of Jammu and Kashmir, particularly in view of the high unemployment rate, the near absence of a private sector, and the large number of semi-employed or temporarily employed youth awaiting regular absorption.

He said these challenges, coupled with other disadvantages faced by young people in the Union Territory, persist despite the “big promises” made by the BJP-led Centre in August 2019 at the time of the abrogation of Article 370 and bifurcating the erstwhile state into two UTs.

However, Sharma said there needs to be more clarity with regard to the issue of daily wagers and other such categories of workers and employees awaiting regularisation after several years of service.

Meanwhile, Indian Chamber of Commerce (ICC) Jammu Chapter Chairman Rahul Sahai welcomed the Budget, saying that despite reduced GST collections, the government had presented a balanced plan within available resources.

He said additional funding of Rs 1,400 crore under the SASCI scheme, projected Gross State Domestic Product growth of 11 per cent, and infrastructure initiatives such as round-the-clock power supply by 2028, development of a water park at Jagti and expansion of Jambu Zoo. PTI TAS/AB RHL

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