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February 7, 2026
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West Bengal Appropriation Bill passed after debate; opposition pressed for DA clarity, social welfare, jobs, and fiscal transparency.
The West Bengal Appropriation (No. 1) Bill, 2026 was tabled and enacted after debate in which the opposition demanded increased MLA development funds, pension revision for former legislators, DA clarity for government employees, inclusion of persons with disabilities in budget provisions, transparent development and job-creation statistics, written responses to questions, and measures to reduce state debt; implementation gaps in the Ghatal Master Plan and the impact of the Yuva Sathi allowance were also criticised, and the finance minister noted blocked central dues exceeding one lakh crore rupees.
February 7, 2026
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Union Budget raises rural and agriculture allocations and includes a large fertilizer subsidy to lower farmers' costs.
Union Budget proposals increase allocations for rural and agriculture sectors, with Rural Development funding up 21 percent and combined Rural Development and Agriculture allocations reported to exceed Rs 4.35 crores. A fertilizer subsidy provision of Rs 1,70,944 crore is included to lower farming costs and directly benefit farmers, and stakeholder suggestions will be reviewed for inclusion in the state budget during the legislative session.
February 7, 2026
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MSIL launches app to digitise chit fund transactions with UPI payments, online bidding and expanded agent networks.
MSIL launched a software platform and mobile app to digitise chit fund transactions-integrating UPI and online bidding-to enhance transparency and reduce fraud, expand access via appointed agents including women self help group Sakhis and retail outlets, prioritise rural outreach and government employees, and implement a Vision 2030 roadmap supported by CSR funding to scale operations.
February 7, 2026
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Quantum computers will launch in Amaravati to seed a regional hub for research, local manufacturing, and talent development.
The Amaravati Quantum Valley will host two indigenous quantum computers as reference facilities on April 14, integrating industry-academia-government MoUs, quantum cloud services, an innovation centre, and a talent hub to position the region as a centre for quantum research, local component manufacturing, talent development, and applications in quantum medicine and biology under the broader National Quantum Mission.
February 7, 2026
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Income tax draft rules and simplified smart forms released; public comments invited by Feb 22.
The tax department released draft rules and forms under the new Income Tax Act, 2025, inviting stakeholder comments and aiming to simplify and consolidate the regulatory framework. The draft rules reduce redundancies, standardise common information, and introduce smart forms with prefill and automated reconciliation. Two navigators map old rules/forms to the new drafts. The proposals rationalise perquisite thresholds and revise the definition of Accountant for certification, linking it to experience and revenue criteria, with separate thresholds for entities providing accountancy or valuation services.
February 7, 2026
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Sabarimala gold loss case: BJP pledges to pursue justice as SIT probe and arrests continue.
A Special Investigation Team formed following judicial direction is probing two cases about gold missing from guardian deity idols and sanctum doorframes at the Sabarimala shrine; the probe has led to the arrest of 12 persons, including two former Devaswom Board presidents. The BJP has pledged to pursue justice in the matter and has made the investigation and resulting arrests a central part of its political campaign narrative.
February 7, 2026
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India Semiconductor Mission 2.0 will prioritise indigenous chip design and talent development, backed by Rs 1,000 crore.
India Semiconductor Mission 2.0 will prioritise indigenous chip design, productisation, ecosystem partner engagement and talent development, backed by Rs 1,000 crore for FY 2026-27 and an emphasis on industry led research and training centres. The programme targets support for production at the 2 nanometer node, integration of equipment and materials suppliers, deployment of EDA tools across institutions, and explicit talent objectives including an 85,000 person ten year target and substantial early progress already recorded.
February 7, 2026
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India-US interim trade framework reduces import duties to boost two-way trade and expand market access.
India and the United States have reached a framework for an interim bilateral trade agreement in which both parties will reduce import duties on selected goods to boost two way trade and expand market access, including for American farmers; this forms part of a series of trade deals that Indian officials say reinforce India's role as a trusted partner.
February 7, 2026
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India-US trade agreement establishes reciprocal tariff cuts and duty removals to expand market access and two way trade.
Interim bilateral trade framework sets reciprocal tariff adjustments: the United States will reduce tariffs on specified Indian goods to 18% from about 50%, and India will eliminate or reduce import duties on all American industrial goods and a specified list of agricultural and food products, as the first phase of the broader Bilateral Trade Agreement, with formal signing expected by mid March.
February 7, 2026
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Mumbai mayoral election: BJP candidate Ritu Tawde nominated unopposed under a woman open-category reservation, process to proceed.
BJP's Ritu Tawde was nominated unopposed for Mumbai mayor after other parties did not file competing nominations by the filing deadline; the post was made reserved for a woman from the open category by a draw of lots. Officials recorded single nominations for mayor and deputy mayor before the deadline and the municipal election process will continue according to the scheduled withdrawal and procedural dates.
February 7, 2026
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State Bank of India's profit boosted by a Rs 2,200 crore mutual fund dividend amid stronger loan growth and regulatory support.
A Rs 2,200 crore special dividend from the IPO bound mutual fund arm materially lifted standalone net profit and non interest income. The bank raised its FY loan growth target to 13-15% amid 15.14% loan growth, a 72% credit deposit ratio, excess government securities holdings, and a large sanctioned loan pipeline. Management flagged regulatory support from RBI measures allowing bank lending to REITs and an RBI stance on compensating defrauded customers, while asset quality improved and capital adequacy stood at 14.04%.
February 7, 2026
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Partition of India occurred due to forgetting Hindu sentiment, and Hindutva preserves cultural unity, says RSS chief.
Mohan Bhagwat contended that the partition resulted from a neglect of collective Hindu sentiment and maintained that Hindutva need not displace personal religious practice, language or food habits, framing it instead as a guarantee of individual safety within the nation. He promoted dialogue to address factual criticisms of the RSS, opposed reliance on perception or propaganda, advocated balanced swadeshi with global interdependence (not tariff-driven), and called for social measures-family dialogue, self-pride and self-awareness-to strengthen peaceful co-existence.
February 7, 2026
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Ride-hailing drivers protest for minimum base fares and a ban on non-commercial vehicles operating commercially.
Drivers staged a coordinated partial stoppage refusing some bookings during demand surges to protest dynamic fare increases and to demand that the government notify a minimum base fare, and to bar use of non-commercial vehicles for commercial passenger and goods transport, pressing regulators to establish fare slabs and clarify vehicle classification.
February 7, 2026
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Assembly microphone cut off during a minister's speech, raising questions about speaking list rules and speaker discretion.
A minister's microphone was switched off while speaking because his name was not on the original speakers' list; the Speaker acknowledged the omission but exercised discretion to allot four minutes, after which warning and cutoff lights activated and the microphone was reportedly silenced, prompting visible displeasure and a subsequent cordial recess meeting with the Speaker.
February 7, 2026
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Indo US trade deal will expand market access, boost jobs and support Make in India while regional security concerns persist.
The Lieutenant Governor of Ladakh characterises the recent Indo US trade agreement as advancing India's economic objectives by expanding market access, benefiting farmers, creating jobs, and supporting initiatives such as Make in India and startup promotion toward a 'Viksit Bharat' by 2047. He condemns a terrorist bombing in Pakistan, attributes regional instability to Pakistan's security institutions undermining civilian governance, and links defence and technological progress to national advancement.
February 7, 2026
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US-India trade pact cuts or eliminates tariffs on many goods while addressing non-tariff barriers to trade.
The bilateral framework provides for immediate and phased tariff elimination and reduction on numerous industrial, food, agricultural, medical, and high-value goods, while preserving targeted protections such as minimum import prices. It also requires both parties to address non-tariff barriers, reform restrictive licensing for ICT goods, and establish quota-based and phased modalities; reciprocal zero-tariff access in the partner market is granted for a specified list of Indian agricultural and processed food exports.
February 7, 2026
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India US trade framework supports MSME integration, cuts tariffs and opens markets while protecting sensitive agricultural sectors.
The India US Interim Agreement framework modifies bilateral market access and duties to support MSME integration and reduce business costs: the US will cut tariffs on specified Indian goods to 18%, India will eliminate or lower duties on a wide range of US industrial and agricultural products, and India intends to purchase USD 500 billion of US goods over five years; the framework preserves safeguards for sensitive agricultural and dairy sectors and includes joint technology cooperation to position India as a hub for AI, data and digital services.
February 7, 2026
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Election projection: national party claims it will form government, citing increased funding and budget-driven development plans.
The national party asserts it will form the state government, citing a 23% rise in loans and doubled grants-in-aid as evidence of supportive central funding and linking the Viksit Bharat Budget 2026 to growth in Tourism, a Rare Earth Corridor, and High-Value Crops; it accuses prior administrations of sectoral stagnation, raises national security concerns over alleged local support for Islamist forces, and pledges cultural protection, empowerment of women, youth and farmers, and business-friendly measures.
February 7, 2026
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Bengaluru-Mumbai premium train service announced; Centre seeks state support for land acquisition under cooperative federalism.
Central projects, including a premium Bengaluru-Mumbai service and suburban rail expansion, depend on state cooperation for land acquisition under a policy of cooperative federalism; administrative prerequisites such as design approvals, tendering, testing, and electrification certification are reported as advanced for several services.
February 7, 2026
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India-US interim trade framework preserves agriculture and dairy while lowering tariffs and expanding market access for exporters and MSMEs.
The BJP defends the India-US interim trade framework as preserving sensitive agriculture and dairy sectors while reducing reciprocal tariffs to 18 percent and granting zero-tariff access in sectors such as generic pharmaceuticals, gems and diamonds, and aircraft parts, thereby boosting export competitiveness, supporting MSMEs, farmers and fishermen, and expanding market access and employment opportunities.

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Milan Cortina Olympics officially open with multi-site ceremony for spread-out Winter Games

February 7, 2026

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Milan, Feb 7 (AP) Featuring tributes to da Vinci and Dante, Puccini and Pausini, Armani and Fellini, pasta and vino, and other iconic tastes of Italian culture -- plus Mariah Carey hitting all the high notes in "Nel Blu Dipinto Di Blu" aka "Volare" -- an unprecedented four-site, dual-cauldron opening ceremony got the Milan Cortina Olympics officially started on Friday.

Allowing athletes to participate in the Parade of Nations at the mountain locales for the most spread-out Winter Games in history created what perhaps was an unintended consequence: Zero competitors from any of the first five countries announced actually showed up at the main hub, Milan's San Siro soccer stadium.

While signs bearing the names of Greece -- which always leads the procession as the birthplace of the Olympics -- Albania, Andorra, Saudi Arabia and Argentina were carried into the home of Serie A soccer titans AC Milan and Inter Milan, there were no athletes from those places around. Instead, they were participating at simultaneous festivities held at Cortina d'Ampezzo in the heart of the Dolomites, Livigno in the Alps, and Predazzo in the autonomous province of Trento.

The first country with athletes at San Siro was Armenia -- and their entrance drew raucous cheers from a crowd filled with 61,000 ticket-holders plus others.

Later, a smattering of boos met Israel's four representatives at the Milan ceremony. There have been some calls for Israel to be banned from the Olympics over the war in Gaza, which began with Hamas' deadly attack in October 2023.

And while athletes from the US were cheered when they appeared, Vice President J D Vance was jeered when he was shown briefly on the arena's video boards from his spot in the tribune. Support for the United States among its allies has been eroding as the Trump administration has taken an aggressive posture on foreign policy, including punishing tariffs, military action in Venezuela and threats to invade Greenland.

The contingent from Venezuela got a big backing when entering. So did that from Ukraine, where a war continues four years after Russia invaded.

The ceremony's organisers have said they sought to convey themes of harmony and peace, seeking to represent the city-mountain dichotomy of the particularly unusual setup for these Olympics while also trying to appeal to a sense of unity at a time of global tensions. South African actor Charlize Theron and Italian rapper Ghali delivered messages of peace toward the end of the night.

"I hope the opening ceremony is seen by everyone as an opportunity to be respectful," new International Olympic Committee President Kirsty Coventry said when asked this week about possible crowd reactions.

The loudest greeting was reserved, naturally, for host Italy, which walked in last, to an electronic version of "The Barber of Seville." The ceremony was already nearly three hours old -- and not yet done -- by the time Italian President Sergio Mattarella officially declared the Milan Cortina Games open following a speech by Coventry, the first woman to lead the IOC.

"Thank you for believing in the magic of the Olympic Games," she said, then several minutes later made sure to make mention of the "media rights holders" who pay to broadcast the event.

Soon, tenor Andrea Bocelli's voice was belting out Puccini's "Nessun Dorma" and its closing refrain of "Vincerò," Italian for "I will win!" As he concluded, torch bearers headed out of the arena to light a cauldron at the Arch of Peace, 4 kilometres from San Siro.

One symbol of how far-flung things are at these Olympics: Instead of the usual one cauldron that is lit and burns throughout the Games, there were going to be two, both intended as an homage to Leonardo da Vinci's geometric studies. The other is 400 kilometres away in Cortina.

The people given the honour of lighting both was a closely guarded secret, as is usually the case at any Olympics. At the 2006 Turin Games, it was Italian cross-country skier Stefania Belmondo.

The full collection of competition venues for the next two-plus weeks dot an area of more than 22,000 square kilometres, roughly the size of the entire state of New Jersey. The multi-city ceremony format on Friday allowed up-in-the-mountains sports such as Alpine skiing, bobsled, curling and snowboarding to be represented without requiring folks to make the several-hours-long trek to Milan.

It did not exactly feel like a Winter Games in the country's financial capital, where the temperature was a tad below 10 degrees Celsius, and the sky was a crisp, clear azure all afternoon Friday. Not a trace of clouds, let alone snow.

As Italy welcomed the world by displaying symbols of its heritage, the show produced by Olympic ceremony veteran Marco Balich began with dancers from the academy of the famed Milan opera house Teatro alla Scala reimagining 18th-century sculptor Antonio Canova's marble works.

People wearing oversized, mascot-style heads representing opera composers Giacomo Puccini, Gioachino Rossini and Giuseppe Verdi appeared on the central stage, before giant paint tubes floated above and dropped silk of red, blue and yellow -- the primary colours -- before an early parade of various-colour-wearing characters arrived in the stadium. They represented music and art, literature and architecture, appreciations for beauty and history and, above all, "La Dolce Vita" (loosely, Italian for "The Good Life" and the name of a 1960 film by Federico Fellini).

There were references to ancient Rome, the Renaissance, the Venice Carnival and the country's noted traditions in various areas such as cuisine and literature, such as "Pinocchio" and Dante's "Inferno." A runway walk showcased outfits -- created by the late fashion designer Giorgio Armani, who died last year at 91 -- in the colours of Italy's flag: red, green and white. And balladeer Laura Pausini sang Italy's national anthem.

Carey got loud cheers in Milan as she sang in Italian. In Cortina, hundreds of fans sang along with her, and a roar emerged when they realised she was performing the song with the "Volare" refrain.

Another local touch: Italian actress Sabrina Impacciatore, of "White Lotus" fame, led a segment that took viewers through a century of past Olympics, with examples of evolving equipment, sportswear and music. And actress and comedian Brenda Lodigiani demonstrated the popular Italian hand gestures often used to communicate in place of words. (AP) RUK RUK

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