The upcoming Budget is going to put emphasis on easing the debt-to-GDP ratio, which is around 56 per cent, instead of targetting a specific fiscal deficit number as the country has almost reached the end of the glide path envisaged in the FRBM legislation. A fiscal deficit of 3-4 per cent is considered comfortable and a desirable target for a growing, developing economy like India, aiming to balance economic expansion with financial stability. Under the revised Fiscal Responsibility and Budget Management (FRBM) Act, the fiscal deficit target was below 4.5 per cent of GDP for 2025-26. Therefore, the union government announced a new glide path with the debt-to-GDP ratio as the fiscal anchor. So, the roadmap for the next six years was announced in the FRBM statement released on February 1, 2025. Finance Minister Nirmala Sitharaman, in her Budget speech in July 2024, had said, "The fiscal consolidation path announced by me in 2021 has served our economy very well, and we aim to reach a deficit below 4.5 per cent next year. The government is committed to staying the course."From 2026-27 onwards, she had said, "Our endeavour will be to keep the fiscal deficit each year such that the central government debt will be on a declining path as a percentage of GDP." It encourages a shift from rigid annual fiscal targets towards more transparent and operationally flexible fiscal standards. It is also recognized as a more reliable measure of fiscal performance as it captures the cumulative effects of past and current fiscal decisions. It is expected that the debt-to-GDP-based fiscal consolidation strategy would help rebuild buffers and provide the requisite space for growth-enhancing expenditures. The FRBM statement dated February 1, 2025, said the choice of fiscal anchor aligns well with the government's sustained efforts to promote fiscal transparency through proper disclosure of off-budget borrowings. For the period FY 2026-27 to FY 2030-31, it is possible to compute several fiscal scenarios based on GDP growth trends and varying degrees of fiscal calibrations, it said. "Sans any major macro-economic disruptive exogenous shock(s), and while keeping in mind potential growth trends and emergent development needs, the government would endeavour to keep fiscal deficit in each year (from FY 2026-27 till FY 2030-31) such that the central government debt is on declining path to attain a debt-to-GDP level of about 50 per cent by March 31, 2031 (the last year of the 16th Finance Commission cycle)," it added. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
30 January,2026 04:08 PM IST | New Delhi | PTIAn IndiGo Airlines flight from Kuwait to Delhi made an emergency landing in Ahmedabad on Friday after a bomb threat. The emergency landing in Ahmedabad triggered heightened security measures at the Sardar Vallabhbhai Patel International Airport, officials said. As reported by news agency IANS, the aircraft, carrying 186 people, including 180 passengers, was in the air when a handwritten threat was discovered on a tissue paper. The note found inside the aircraft referred to a hijacking and a bomb, prompting immediate action by the flight crew. Soon after the incident, the authorities followed standard aviation safety protocol. Pilot diverted the aircraft to the nearest airport The pilot alerted Air Traffic Control and decided to divert the aircraft to the nearest suitable airport, Ahmedabad. However, the flight landed safely at the Ahmedabad airport, where security agencies were placed on alert ahead of its arrival. Following the safe landing at Ahmedabad airport, all passengers were evacuated from the aircraft in a controlled manner and moved to a secure area of the airport. Also, there were no reports of injuries or medical emergencies during the process. Airport Police Station Inspector N. D. Nakum, while briefing about the incident, stated, “Security agencies responded swiftly after the threat was reported. After the threat was received, all security agencies concerned were alerted. The Bomb Disposal Squad carried out a thorough check of the aircraft.” The official further added, “No suspicious or objectionable item has been found so far. The checking process of the aircraft has been completed, and further investigation is continuing as per protocol," as per IANS. Bomb squad and CISF teams conducted a detailed anti-sabotage check The Bomb Disposal Squad, CISF teams, dog squads, and airport security teams conducted a detailed anti-sabotage check of the aircraft.Following the protocol, all passenger baggage was screened, and passengers were subjected to individual security checks in accordance with standard operating procedures, as per IANS. A strong police presence was maintained across the airport during the operation. Airport sources said flight operations continued with minor, temporary adjustments while security checks were underway. There was no immediate confirmation on when the diverted aircraft would resume its onward journey to Delhi. Also, the authorities are examining the origin and nature of the handwritten threat note and are working to establish how it was placed inside the aircraft. Officials also added that appropriate action would be taken based on the findings of the investigation. The incident comes amid a series of recent bomb threats reported in Ahmedabad. Over the past few days, the city’s airport, courts, and several schools have received threat messages, all of which were later found to be non-specific or hoaxes after extensive checks. (With inputs from IANS)
30 January,2026 03:52 PM IST | Ahmedabad | mid-day online correspondentThe Enforcement Directorate (ED) has provisionally attached assets worth Rs 1,885 crore of Anil Ambani's Reliance Group, including immovable properties, bank balances, receivables and shareholding in unquoted investments, according to a statement issued by the agency on Wednesday. The attachments have been done in the Reliance Home Finance Ltd (RFHL), the Reliance Commercial Finance Ltd (RCFL), and the Yes Bank fraud case, as well as the Reliance Communication Ltd (RCOM) bank fraud case, the statement said. The attached assets are in the form of shareholding of Reliance Infrastructure Ltd in BSES Yamuna Power Ltd, BSES Rajdhani Power Ltd, and Mumbai Metro One Private Ltd, it said. Further, a bank balance of Rs 148 crore and receivables worth 143 crore have been provisionally attached in the hands of M/s Value Corp Finance and Securities Ltd. Besides, a residential house in the name of Angarai Sethuraman, and shares/mutual funds in the name of Puneet Garg, both senior employees of Reliance Group, have been provisionally attached, it added. The ED had earlier attached properties worth over Rs 10,117 crore in the bank fraud cases of RCOM, RCFL, and RHFL. The cumulative group attachment has now reached Rs 12,000 crore (approximately). It has detected fraudulent diversion of public money by various Anil Ambani Reliance Group companies, including RCOM, RHFL, RCFL, Reliance Infrastructure Ltd (RIL) & Reliance Power Ltd. During 2017–2019, Yes Bank invested Rs 2,965 crore in RHFL instruments and Rs 2,045 crore in RCFL instruments. By December 2019, these became non-performing investments. The outstanding amount was Rs 1,353.50 crore for RHFL and Rs 1,984 crore for RCFL. The ED’s investigation in the case of RHFL and RCFL reveals that both received public funds of more than Rs 11,000 crore. Before Yes Bank invested this money in the Anil Ambani group companies, Yes Bank had received huge funds from the erstwhile Reliance Nippon Mutual Fund. As per SEBI regulations, Reliance Nippon Mutual Fund could not invest or divert funds directly in Anil Ambani group finance companies due to conflict-of-interest rules. Therefore, public money in mutual fund schemes was routed indirectly by them. The path ran through Yes Bank’s exposures. The public funds reached Anil Ambani group companies through a circuitous route. The ED has also initiated an investigation on the basis of an FIR registered by the Central Bureau of Investigation under various sections of the Indian Penal Code, 1860 and the Prevention of Corruption Act, 1989, against RCOM, Anil Ambani and others. RCOM and its group companies availed loans from domestic and foreign lenders from the period of 2010-2012 onwards, of which a total amount of Rs 40,185 crore is outstanding. As many as 9 banks have declared the loan accounts of the Group as a fraud. Investigation Conclusions The investigation revealed that loans taken by one entity from one bank were utilised for repayment of loans taken by other entities from other banks, transfer to related parties, and investments in mutual funds, which was in contravention of the terms and conditions of the sanction letter of the loans. In particular, RCOM and its group companies diverted over Rs 13,600 crore for evergreening of loans, over Rs 12,600 crore was diverted to connected parties and over Rs 1,800 crore was invested in FDs/MFs, etc., which was substantially liquidated for rerouting to group entities. Huge misuse of bill discounting for the purpose of funnelling funds to connected parties has also been detected by ED. Certain loans were siphoned out of India through foreign outward remittances. Further investigation is still in progress, the statement added. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
30 January,2026 03:23 PM IST | New Delhi | IANSProtests seeking an immediate rollback of the University Grants Commission’s (UGC) Regulations 2026 entered their third consecutive day on Thursday, spreading across Uttar Pradesh and several other states, with student bodies, social organisations and even members of the ruling party joining the agitation. Protesters have also announced a Bharat bandh on February 1. Watch | Calls for UGC rollback intensify as protests spread beyond Uttar Pradesh In Lucknow, students under the banner of Chhatra Panchayat assembled at the Gandhi statue in Hazratganj, raising slogans such as “UGC Roll Back” and accusing the new regulations of being discriminatory. The protesters alleged that the rules, introduced in the name of equity, would deepen divisions on university campuses and unfairly impact general category students while overlooking economic hardship within the category. Chhatra Panchayat president Shivam Pandey described the regulations as a “black law”, claiming they would vitiate the academic environment. “Students eat and study together without knowing each other’s surnames. This regulation is politically motivated and aimed at dividing campuses,” he said. The agitation intensified across the state. In Prayagraj, students from multiple organisations gathered at the Chhatra Sangh Bhawan on the Allahabad University campus, alleging that the new UGC framework weakens the rights of general category students and lacks safeguards against false complaints. In Varanasi, students from Banaras Hindu University and Mahatma Gandhi Kashi Vidyapeeth warned of escalating protests if the regulations were not withdrawn. Police stopped demonstrators from entering the district headquarters, following which they staged a dharna. Protesters questioned why proposed grievance redressal and equity committees mandate representation from OBC, SC-ST communities, women and persons with disabilities, but exclude members from the upper caste community. “If equality is the objective, representation must be inclusive of all sections,” a student said. In Kanpur, students of Chandra Shekhar Azad University of Agriculture and Technology protested wearing black bands and carrying black flags, marching from Karpuri Hostel to Company Bagh crossing. Sit-ins were also reported from Deoria, where the protest was led by Bar Association president Pritam Mishra. In Rae Bareli, BJP Kisan Morcha’s Salon mandal president Shyam Sundar Tripathi resigned in protest, calling the regulations “harmful” and “divisive” in his resignation letter to the Prime Minister and party leadership. Meanwhile, a video from Kaushambi showing Savarna Army district head Abhishek Pandey writing a letter to the Prime Minister with his blood, terming the regulations a black law, went viral on social media, adding momentum to the growing agitation.
30 January,2026 02:34 PM IST | | mid-day online correspondentAs the Union Budget 2026-27 approaches, the healthcare industry is looking towards the central government to bridge the gap between ambitious national goals and the ground realities of medical affordability. Dr P Senthilnathan, Director of GEM Hospital, emphasised that the roadmap for the upcoming year must be anchored in a long-term strategy. He noted that the previous budget made strides in making essential medicines more affordable and in advancing digital health initiatives, particularly by enhancing cancer care capacity nationwide. However, he believes the next step is critical for the nation's broader developmental goals. Dr. Senthilnathan stated, "Union Budget 2026-27 should be drafted keeping in mind the long-term vision for building "Healthy India" to achieve 'Viksit Bharat' by 2047." There is also a strong call for the government to lower or rationalise GST on essential medical tools and services. Dr Senthilnathan remarked, "lower or rationalise GST on medical devices, diagnostic kits, and health insurance premiums to manage high out-of-pocket expenses." By reducing these tax barriers, the industry hopes to see a direct drop in treatment costs and higher uptake of health insurance, which is currently underutilised due to high premiums. The focus on rural areas also remains a top priority. Dr Senthilnathan highlighted the importance of "focusing rural health infrastructure through the National Health Mission (NHM)." Beyond infrastructure, the industry is seeking stronger public-private collaborations to address the rising prevalence of chronic illnesses. Dr Senthilnathan proposed a more integrated approach, noting the need for "Government tie-up with private organisations for screening programs, and reducing the burden of non-communicable diseases." He believes that such partnerships are essential for early detection and long-term management of lifestyle-related ailments that are increasingly affecting the workforce. Finally, the hospital director emphasised that the future of Indian healthcare lies in technology and smart taxation. He called for "AI/telemedicine adoption, and providing tax rationalisation for diagnostics and devices." This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
30 January,2026 02:12 PM IST | New Delhi | ANIAs global trade undergoes a fresh reordering amid renewed tariff tensions, India will need much more than trade deals to secure long-term gains, according to a report by Emkay Research. The report noted that tariffs have had a limited impact on correcting global trade imbalances in the current cycle, highlighting the growing agility of global corporations in adapting to trade disruptions. The report observed that "Trade War 2.0" has unfolded with China deploying a familiar strategy seen during Trade War 1.0, though this time with greater refinement and preparedness. Despite higher tariffs, global trade flows have adjusted rather than collapsed, as companies rerouted supply chains and diversified markets to cushion the impact. It stated, "Global trade reorder and India - trade deal is not enough. Tariffs have had limited impact on global trade imbalances this cycle, underscoring corporate agility". The report also mentioned that India, however, has faced a disproportionate tariff hit in this phase of global trade tensions. While there are early signs of market diversification by Indian exporters, these gains have largely come at the cost of lower margins. It pointed out that meaningful diversification in products and supply chains remains limited, indicating structural challenges in India's trade ecosystem. The report explained that despite the weakness in the Indian rupee (INR), India's ability to sustain export-led gains follows a "J-curve" dynamic. The J-curve refers to a phenomenon where a country's trade balance initially worsens before improving to a level higher than before a policy change or economic shock. However, the report cautioned that such gains will be durable only if several conditions are met. According to the report, trade diversion must become embedded in "sticky" supply chains through scale in key sectoral verticals. Improvements in logistics, customs procedures and port efficiencies are also crucial to support sustained export growth. Additionally, restrained tariffs on capital goods and intermediate inputs will be essential to enhance competitiveness and avoid further margin pressure. The report further highlighted the importance of long-term foreign direct investment (FDI) inflows to build capacity and strengthen supply chains. Managing two-way foreign exchange volatility was also highlighted as a key factor in supporting exporters over the medium term. The report concluded that these structural and operational factors will matter far more than tariffs alone in determining India's trade performance in the coming years. While trade deals may offer short-term relief, the report stressed that long-term gains will depend on deeper reforms and supply-chain integration rather than tariff-led strategies alone. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
30 January,2026 01:32 PM IST | New Delhi | ANIAhead of the Union Budget 2026 that will be announced by the Finance Minister on Sunday, February 1, the Bharatiya Janata Party (BJP) has prepared a comprehensive nationwide strategy to publicize it. As reported by news agency ANI, all Union Ministers, Chief Ministers of BJP-ruled states, and senior party leaders will address the media through press conferences across the country about the budget. BJP also plans to organize press conferences at nearly 150 locations nationwide. The Union Budget Outreach Campaign 2026 will be organized from 1 February to 15 February, during which a series of programs and interactions will be held. The aim of the programs will be to highlight the vision, priorities, and benefits of the budget. Extensive outreach program by BJP In addition to on-ground activities, the BJP will also run an extensive digital outreach campaign. The key highlights of the budget will be promoted across social media platforms, with active engagement of social media influencers. Special emphasis will be placed on reaching the youth and wider audiences through short video reels and digital content. To ensure effective coordination and implementation of the campaign, the BJP has also constituted a dedicated team under the leadership of National General Secretary Tarun Chugh for promoting the Union Budget 2026. The team includes Saroj Pandey, Shrikant Sharma, Narendra Raina, GVL Narasimha Rao, Gopal Krishna Agrawal, Anil Antony, Sanjay Tandon, and Guru Prakash Paswan, as reported by news agency ANI. BJP further aims to take the budget's message to every section of society and underline its commitment to inclusive growth and national development. MDMK alleges the Union Budget will be against BJP Meanwhile, Marumalarchi Dravida Munnetra Kazhagam (MDMK) General Secretary Vaiko alleged that the upcoming Union Budget will be biased against Tamil Nadu, accusing the Bharatiya Janata Party (BJP) of indulging in language politics and attempting to mislead the people of the state. Speaking to the media on Thursday, Vaiko further said that the Centre would continue its alleged biased approach towards Tamil Nadu while attempting to appease the state rhetorically. Vaiko further said, "The Union government would once again discriminate against Tamil Nadu in the upcoming Union Budget. The BJP would try to deceive the people by praising Tamil Nadu, Bharathiar, and Sangam literature in Hindi. Prime Minister Modi's daydream of fooling Tamil Nadu will never succeed," as per ANI. (With inputs from ANI)
30 January,2026 01:27 PM IST | New Delhi | mid-day online correspondentMaharashtra Deputy Chief Minister Ajit Pawar was eager to merge the two factions of the Nationalist Congress Party (NCP), and the process was reportedly nearing completion, according to a close aide. Kiran Gujar, a longtime associate of Pawar since his political beginnings in the mid-1980s, told PTI on Thursday that the leader had shared his plans with him just five days before his fatal plane crash on Wednesday. "He was one hundred per cent keen on merging both factions. He had told me five days ago that the entire process was complete and the merger was imminent in the next few days," Gujar said, reported PTI. During the recent civic polls, which the two factions contested in alliance, Ajit Pawar had also told select journalists that he intended to merge his party with the NCP (SP) while his uncle Sharad Pawar (85) was in good health. After contesting the January 15 civic elections in Pune and Pimpri Chinchwad together, the two factions decided to continue the tie-up for the next month's Zilla Parishad elections as well. According to PTI, Gujar said that Ajit had a roadmap ready for the merger and the future course of the united NCP. Asked whether he had discussed the issue with Sharad Pawar, Gujar said, "Positive talks were underway with Pawar saheb, Supriya Tai (Supriya Sule), and other leaders," and there were indications that the senior Pawar would endorse the move. "Many positive things were on the cards, but this tragedy struck and took Ajit 'Dada' (elder brother, as he was popularly known) away from us. Now, after his death, it has become even more imperative that both factions come together and work for the betterment of Baramati and the state," he said, reported PTI. Gujar, who has been associated with the Pawar family for over 40 years, remained with Ajit Pawar through his various political phases and was considered his close confidant. Recalling his early years, Gujar said that after Ajit won the election to the Chhatrapati Cooperative Sugar Mill in 1981, he was persuaded to enter politics. "Initially, he was reluctant and wanted to focus on the family and farming. However, after Pawar saheb (Sharad Pawar) became chief minister in the late 1980s, there was a need for young leadership in Baramati, and Dada fulfilled that role," he said. "The development of the area will continue, but a leader like Ajit Dada will not emerge again," Gujar added. (With PTI inputs)
30 January,2026 01:12 PM IST | Baramati | mid-day online correspondentPrime Minister Narendra Modi on Friday paid tribute to Mahatma Gandhi on his 78th death anniversary, saying that his emphasis on 'Swadeshi' is the "fundamental pillar of self-reliant India." "My hundredfold salutations to the Father of the Nation, Mahatma Gandhi, on his death anniversary. Revered Bapu always laid strong emphasis on Swadeshi, which is also a fundamental pillar of our resolve for a developed and self-reliant India. His personality and deeds will forever continue to inspire the people of the country to walk the path of duty," PM Modi wrote on X. In another X post, the Prime Minister hailed Mahatma Gandhi's principle of non-violence. "Revered Bapu always emphasised non-violence for the protection of humanity. There is such power in it that can change the world without weapons. Ahimsa param dharmast-thahimsa parantpah, ahimsa paramam satyam yato dharmah pravartate (Nonviolence is the ultimate duty, nonviolence is the ultimate austerity. Nonviolence is the ultimate truth, and it advances the cause of righteousness)," he wrote. Senior Minister JP Nadda also paid tribute to the Mahatma, "On the sacred death anniversary of the worshipper of humanity, the embodiment of sacrifice and penance, the pioneer of Swadeshi and self-reliance, the Father of the Nation Mahatma Gandhi Ji, I offer him millions of salutations. Revered Bapu, through his ideal and exemplary personality and deeds, spread the message of lifelong truth, non-violence, peace and goodwill across the world. His great thoughts continue to illuminate the path for the countrymen in building a self-reliant and developed India even today. His life philosophy, dedicated to the service of the nation, will forever inspire us to walk on the path of morality, tolerance and service to the people." Mohandas Karamchand Gandhi, a leading figure in India's freedom movement, succumbed to bullets on January 30, 2026. He was assassinated by Nathuram Godse while he was on his way to daily prayers. January 30 is marked as Martyr's Day. On the occasion of his 78th death anniversary, the Centre will hold an all-religious prayer (Sarva-Dharma-Prarthana) and Martyr's Day Ceremony, in the presence of Defence Minister Rajnath Singh, Union Minister and Rajghat Samadhi Committee Chairman Manohar Lal, at the Rajghat in the national capital. Every year, Prime Minister Modi visits Rajghat to pay floral tribute to Mahatma Gandhi. Meanwhile, the Delhi Traffic Police also issued a traffic advisory in view of an official function scheduled at Mahatma Gandhi Smriti Sthal, Rajghat, on January 30 to mark Martyrs' Day. The event is expected to be attended by several dignitaries, prompting heightened security arrangements and traffic regulation in parts of central Delhi. According to the advisory, traffic diversions may be implemented on a need basis at key intersections, including ITO Chowk, Delhi Gate, Guru Nanak Chowk, Shantivan Chowk, Rajghat DTC Depot, and the IP Flyover. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
30 January,2026 10:55 AM IST | New Delhi | ANIThe Economic Survey on Thursday projected the GDP growth in the range of 6.8-7.2 per cent for the next fiscal (2026-27) year on the back of the cumulative impact of reforms, and said the economy remains on a stable footing. The projection is a tad lower than the estimates of 7.4 per cent in the current fiscal. The Economic Survey 2025-26 said the rupee’s valuation does not accurately reflect India’s stellar economic fundamentals. The survey also said inflation is unlikely to be a concern in the next fiscal year. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
30 January,2026 10:41 AM IST | New Delhi | AgenciesThe toll in the fire near Kolkata on January 26 has risen to 21 with more 13 bodies found from gutted buildings, while 28 people are still missing, raising fears that the number of fatalities is likely to increase, the police said on Thursday. The devastating fire reduced to ashes two godowns and a manufacturing unit of a momo company at Anandapur in South 24 Parganas district, close to the city. “Given the nature of the incident and the extent of damage, the possibility of the toll going up cannot be ruled out,” a senior police officer said. “A prohibitory order has been imposed to maintain law and order and to facilitate rescue and identification work,” the police officer said. The Sunday night blaze reduced warehouses and a manufacturing unit to rubble, leaving behind charred buildings and bodies of workers. Officials said DNA mapping of the 21 recovered bodies or body parts is likely to begin on Thursday to establish their identities. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
30 January,2026 10:39 AM IST | Kolkata | AgenciesADVERTISEMENT