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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.
February 7, 2026
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India and the US agreed a framework reducing reciprocal tariffs and committing to phased duty eliminations and regulatory cooperation.
The United States and India reached a framework for an Interim Agreement in which the US will reduce tariffs on specified Indian goods to 18% and India will eliminate or reduce duties on a wide range of US industrial, food and agricultural products, with immediate eliminations, phased reductions, quota-based concessions, sector-specific tariff relief (including zero tariffs on generic pharmaceuticals, gems and aircraft parts), regulatory cooperation on standards and commitments to address non-tariff barriers.
February 7, 2026
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Jammu and Kashmir hydropower development urged; Centre brings region under SASCI with 50-year interest-free capital loans.
The Union Home Minister directed full utilisation of Jammu and Kashmir's hydropower projects and 100 per cent saturation of government welfare schemes, while the Centre brought the territory under the SASCI scheme for FY 2025-26 to enable access to 50-year interest-free loans for capital projects and emphasised fiscal discipline and targeted investments such as sports infrastructure and dairy sector promotion.
February 7, 2026
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India-Russia ties remain strong and open to expanded cooperation including nuclear SMR technology and infrastructure projects.
India and Russia maintain a strong bilateral relationship grounded in trust and mutual respect, with Moscow open to cooperation with any willing partner. Nuclear energy is a key area of collaboration, where Russian entities, including Rosatom, can provide SMR technology and pursue technology sharing and joint development. The Consul General also addressed reports about India's oil purchases by referring to Russian official statements, and highlighted bilateral talks on infrastructure projects as part of efforts to deepen ties.
February 7, 2026
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Assam historical fiction anthology recenters Assamese experiences and contests reductive insurgency narratives.
Colour My Grave Purple is an Assam-set anthology that recentres Assamese experiences across 1855-2019 to dispute insurgency-focused and exoticising narratives. Through ten stories-ranging from plantation labour and indigenous healing to missionary encounters and gendered nationalism-Sahin uses historical fiction and untranslated language to critique colonial epistemologies, contest possession of land and stories, and frame fiction as an act of cultural and epistemic reclamation.

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Palaniswami urges TN govt to release Mettur Dam water for Delta crops

February 8, 2026

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Thanjavur (Tamil Nadu) Feb 8 (PTI) AIADMK chief Edappadi K Palaniswami on Sunday demanded that the Tamil Nadu government immediately release water from the Mettur Dam to save standing paddy crops in the Delta region.

Speaking to reporters after interacting with distressed farmers in Thanjavur district, he stated that the paddy crops, currently in the flowering (milking) stage, require urgent irrigation for at least another 20 days to ensure a successful harvest.

"The farmers in the Delta region, particularly in Thanjavur, have invested heavily by taking loans to cultivate these crops. If water is not provided for the next 20 days, the paddy will wither and turn into chaff (pathir), leading to massive losses for the farming community," the former chief minister said.

During the interaction, emotional farmers showed Palaniswami their parched fields and withered stalks, pleading for intervention. Some farmers noted that they were forced to use motors to pump meager amounts of water to keep the crops alive, while others lamented that the cessation of water supply at a critical juncture had put their livelihoods at risk.

"It is a legitimate demand from the farmers who have shed their blood and sweat for this crop. Their entire livelihood and family welfare depend on this harvest. The government must understand their hardship and immediately release water from the Mettur Dam for irrigation," he added.

Hitting out at the ruling DMK administration, Palaniswami, who is also the Leader of Opposition, termed the recent state budget -- "zero budget" -- that offered no substantial relief or vision for the people.

He also questioned the government’s delay in providing relief for damages caused during previous cyclones.

Responding to a query about political alliances, he dismissed criticisms, stating that the AIADMK remains committed to the welfare of the people.

"If the government provides water now, it will not only ensure income for the farmers but also increase the overall paddy production for the state. The government must act immediately to save the Delta farmers from the brink of distress," he said. PTI JR JR KH

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