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    Dow surges past 50,000 as tech stocks recover while bitcoin stops plunging
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    J-K CM defends 'manifesto-driven' Budget; BJP calls it partisan, disappointing
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February 7, 2026
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US stock market surges past 50,000 as tech stocks and bitcoin recover, no legal or regulatory issues discussed.
The document reports a sharp equity market rebound-Dow surpassing 50,000 with S&P 500 and Nasdaq gains driven by chip stocks and improved sentiment-and a recovery in bitcoin above USD 70,000; it contains no statutory, regulatory, compliance, governance, enforcement, or other legal content.
February 7, 2026
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Hooda-hosted lunch drew MPs across parties; Congress to press issues during Haryana Vidhan Sabha budget session.
Bhupinder Singh Hooda hosted a Delhi lunch attended by over 85 MPs and numerous legislators from multiple parties, including Rahul and Priyanka Gandhi, facilitating cross-party social engagement. Afterwards, Hooda chaired a Congress Legislative Party meeting and indicated the party will seek answers on several public-importance issues during the upcoming Haryana Vidhan Sabha budget session, signalling a planned legislative scrutiny agenda.
February 7, 2026
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Pan masala advertisement: issuance of a non-bailable warrant stayed while the bailable warrant cancellation is pursued.
The state consumer commission stayed issuance of a non-bailable warrant against the celebrity and restrained the district commission from issuing that warrant until the existing bailable warrant is executed, directing the district commission to expeditiously hear the pending application seeking cancellation of the bailable warrant.
February 7, 2026
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Jammu and Kashmir Budget defended as manifesto-driven; opposition brands it partisan and disappointing, citing unmet wage and youth employment needs.
The Jammu and Kashmir government presented a Rs 1.27 lakh crore Budget for 2026-27 defended as reflecting the National Conference manifesto and intended to promote growth, social harmony and prosperity. Opposition parties labelled the Budget partisan and criticised its failure to address long standing concerns of daily wagers, employees, unemployed youth and farmers, accusing the government of repackaging central schemes without new local initiatives. The Congress urged greater central funding given the UT's resource constraints, while business representatives welcomed selected infrastructure and scheme commitments.
February 6, 2026
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App-based taxi and auto-rickshaw drivers strike over panic-button costs, illegal bike taxis, and fare policies.
Drivers announced a nationwide one-day strike alleging that state declarations of many Central Government-approved panic button providers as unauthorized have forced costly device replacements (about Rs 12,000 each), causing severe financial hardship. The union also protests alleged illegal bike taxi services that purportedly deny accident victims insurance benefits, disputes ride aggregator fare policies as arbitrary, and links income loss to an expanded open permit policy for auto-rickshaws.
February 6, 2026
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Four family members found dead by hanging in a Rajgir dharmshala; police seized evidence and launched a special investigation team.
Four family members were found dead by hanging in a locked dharmshala room; police entered with a magistrate, conducted dog squad inspection and forensic photography, and seized phones, identity documents, cash, personal effects and 25 strips of sleeping pills. An inquest report was prepared, bodies sent to the district hospital for autopsy by a medical board with videography, and a special investigation team was constituted with inter state police coordination and a two member team sent to the victims' hometown.
February 6, 2026
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Chabahar port faces changing US sanction waivers, prompting India to assess exposure of its port operator.
The article highlights Chabahar's strategic role for access to Afghanistan and Central Asia and reports recent US sanctions developments: the revocation of a 2018 sanctions exception effective September 29, 2025, and a conditional waiver extended to April 26, 2026. India confirmed IPGL's ten-year contract to operate the Shahid Beheshti Terminal and its USD 120 million equipment contribution, and states it is engaging with relevant parties to assess and mitigate exposure to potential secondary sanctions.
February 6, 2026
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Return of Kashmiri Pandits depends on restoring their sense of security, beyond packages and housing measures.
Return of Kashmiri Pandits depends on restoring their sense of security; packages alone cannot ensure return. The government focuses on non-monetary measures including construction and allotment of transit accommodations (6,000 units targeted), community facilities, a PoK displaced persons bhawan, expanded civic and utility services, extension of health insurance benefits, and strengthened digital service delivery with a dedicated online platform for migrant certificates and grievance redressal.
February 6, 2026
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Amaravati Quantum Valley will be founded to build a quantum research hub through industry, academia and government partnerships.
The Amaravati Quantum Valley foundation will establish a quantum research and innovation hub through government, academia and private sector collaboration, formalised by launches, Memoranda of Understanding and agreements. Key components include the AQV launch, quantum cloud services from major firms, an IBM TCS Quantum Innovation Center, a Quantum Talent Hub, a Quantum Reference Facility by a private university, a quantum safe application, and agreements with nine companies to develop the ecosystem.
February 6, 2026
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Jammu and Kashmir budget secures SASCI interest-free loans and mandates SPARSH/Aadhaar DBT to streamline funding.
Jammu and Kashmir's budget secures inclusion in the Special Assistance to States for Capital Investment (SASCI) scheme for 50 year interest free loans, reports utilisation and matching approvals for capital and disaster works, and implements financial-administration reforms including the SPARSH payment system and mandatory Aadhaar-based direct benefit transfers to streamline fund flow and bill processing.
February 6, 2026
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CyFi units improve detection of cyber and financial crimes in Navi Mumbai, raising detection rates and expanding CCTV infrastructure.
CyFi units at every police station in Navi Mumbai increased detection of cyber and economic offences: cybercrime detection rose from 18% (2024) to 35% (2025) and economic offence detection from 51% to 66%. The police also report a 6.5-minute average response time and forthcoming inauguration of a CCTV Command Centre; overall recorded cases rose from 7,369 (2024) to 7,835 (2025) with detections increasing from 5,678 to 6,278.
February 6, 2026
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Proposed anti-hate speech law aims to criminalise hateful statements; critics warn it may be used to target political rivals.
Proposed anti-hate speech law in Telangana aims to criminalise or regulate speech deemed hateful, modelled on a neighbouring state's draft, and is expected to create new bases for investigation and prosecution; critics allege selective enforcement targeting specific political actors and that the measure is intended to suppress political competition.
February 6, 2026
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TVK chief Vijay's challenge to a Rs 1.50 crore tax penalty failed on the ground that the penalty was within the limitation period.
The court held that the period of limitation for imposing the penalty is computed from the end of the month in which the appellate order is received, with a six month window; treating receipt of the ITAT order (dated December 22) as the trigger, the six month period expired on 30.06.2022 and the penalty order dated 30.06.2022 therefore fell within the prescribed limitation period.
February 6, 2026
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Haryana to launch a block-level mental health scheme, expand infrastructure, strengthen digital health systems and train staff.
Launch of a block-level mental health scheme to integrate mental healthcare into primary public health services, improve access across urban and rural areas, and strengthen digital health systems. Operational measures include completion of infrastructure projects, expansion of critical care capacity, and enhanced training for medical staff; the programme is supported by increased state health budget allocations and concurrent projects under state funding and the National Health Mission.
February 6, 2026
Show AI Summary
West Bengal welfare budget defends expansive social spending, claiming major poverty reduction and targeted farmer transfers.
The interim welfare budget emphasizes sustained social spending and targeted transfers to reduce poverty and unemployment, citing a 1.72 crore poverty reduction claim and a 45.65% decline in unemployment for those aged 15+ between 2017-18 and 2023-24. Core measures include near-universal food and health coverage under Khadya Sathi and Swasthya Sathi, Rs 27,016 crore disbursed to 1.10 crore farmers under Krishak Bandhu, Kharif 2025 payouts, irrigation fee waivers, increased ASHA/ICDS honoraria and benefits, expanded support for gig workers, and contested central dues to the state.
February 6, 2026
Show AI Summary
Gadchiroli to become a green steel hub with an integrated steel ecosystem and regional industrial development plans.
Transform Gadchiroli into a green steel hub by creating a comprehensive steel ecosystem to produce competitively priced steel, establish multiple industrial magnet hubs, and progress initial MoUs and large private investments. Complementary initiatives include an integrated automobile facility, integrated textile parks, an aviation training school, targeted skills development for industry, and three upcoming industrial clusters aimed at fostering export-oriented industries and regional economic contribution.
February 6, 2026
Show AI Summary
Nirav Modi's bid to postpone a Bank of India civil trial over health and prison constraints was rejected.
An adjournment application based on severe vision loss, clinical depression and prison constraints was refused because the defendant would not suffer a substantial disadvantage nor be denied equality of opportunity in the imminent eight day Bank of India trial; the court criticised late notice and repeated delay tactics, treated operational failings by the Prison Service as unsatisfactory but not dispositive, and dismissed a late challenge to a purported personal guarantee.
February 6, 2026
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Kerala CM accuses Congress over Sabarimala gold case, questions need for a CBI probe and criticises Centre on high-speed rail project
The Chief Minister alleges a political nexus in the Sabarimala gold loss case, asserting that Devaswom authorities under a prior Congress administration permitted the prime accused's access and that a purportedly missing temple pedestal was later found in the accused's relative's home. He states a SIT is probing the matter under High Court monitoring while opponents demand a CBI probe and questions the political motives behind that demand.
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.

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Customs & Trade

‘Namaste Trump scored over Howdy Modi’: Cong takes dig at India-US interim trade pact

February 7, 2026

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New Delhi, Feb 7 (PTI) The Congress on Saturday claimed that the India-US joint statement on an interim trade agreement is "silent" on details and took a swipe at Prime Minister Narendra Modi, saying "all the hugs and photo-ops have not amounted to much".

The opposition party also took a jibe at the government with the iconic line from the Mukesh song "Dost dost na raha" from the 1964 film "Sangam".

Congress general secretary in charge of communications, Jairam Ramesh, said the US-India joint statement just issued is silent on details.

"But from what has been revealed, it is clear that: India will no longer import oil from Russia. Separately, the US has announced that a 25 per cent penalty could be reimposed if India buys oil directly or indirectly from Russia," he said on X.

It has also been revealed that India will slash import duties to help American farmers at the cost of Indian farmers, Ramesh claimed.

"India's annual imports from the USA will triple, wiping out our longstanding goods trade surplus. There will continue to be great uncertainty on India's exports of IT and other services to the US. India's exports of goods to the US will face higher duties than before," Ramesh said.

"All the hugs and photo-ops have not amounted to much. Namaste Trump has scored over Howdy Modi," the Congress leader said, adding, "Dost dost na raha".

India and the US on Saturday announced to have reached a framework for an interim trade agreement under which both sides will reduce import duties on a number of goods to boost two-way trade.

Commenting on the development, Prime Minister Narendra Modi said the agreement will strengthen the 'Make in India' initiative by opening up new opportunities for farmers and entrepreneurs, and create jobs for women and youngsters.

The prime minister also thanked US President Donald Trump for his personal commitment to robust ties between India and the US.

"Great news for India and USA! We have agreed on a framework for an Interim Trade Agreement between our two great nations," Modi said in a post on X.

"It strengthens 'Make in India' by opening new opportunities for India's hardworking farmers, entrepreneurs, MSMEs, startup innovators, fishermen and more. It will generate large-scale employment for women and youngsters," the prime minister said.

According to the interim trade deal, Trump has removed the 25 per cent tariffs, or additional import duty, imposed on India last August for purchasing Russian oil, citing that the country has undertaken "significant steps" and New Delhi has committed to stop directly or indirectly importing oil from Moscow.

The interim pact will open a USD 30 trillion market for Indian exporters, especially MSMEs, farmers and fishermen, as US duties on Indian goods will come down to 18 per cent from 50 per cent earlier.

According to the joint statement, the two countries will "promptly" implement this framework and work towards finalising the interim agreement with a view to concluding a mutually beneficial Bilateral Trade Agreement (BTA).

India will eliminate or reduce tariffs on all US industrial goods and a wide range of American food and agricultural products, including dried distillers' grains, red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products, the statement sasid. PTI ASK ARI ARI

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