Business

New Delhi: Cigarettes, tobacco products and pan masala will become significantly more expensive starting February 1, following the implementation of new taxation measures approved by Parliament in December. The government has introduced additional excise duty on cigarettes and tobacco products, along with a health cess on pan masala, replacing the earlier GST compensation cess framework. The new levies will be imposed over and above the highest GST rate of 40 percent, intensifying the tax burden on so-called “sin goods.” These changes come after the GST Council’s decision in September 2025 to discontinue the compensation cess mechanism. Sharp Increase in Cigarette Prices Under the amended Central Excise Act, cigarette taxation will now be based on length and structure, with excise...

New Delhi: Finance Minister Nirmala Sitharaman will present the Union Budget for 2026-27 tomorrow, Sunday, February 1, 2026, in Parliament. The budget speech is scheduled to begin at 11:00 AM and is expected to last for approximately one to one and a half hours. The budget speech provides the government’s first official insight into its economic strategy for the upcoming financial year. It typically covers taxation, welfare schemes, infrastructure development, and economic reforms. The budget is a key event for citizens, businesses, and investors, as it sets the tone for the economy and government policies for the year ahead. Live Broadcast Details The Budget 2026 speech will be telecast live on national television and can be watched on the following channels: Sansad TV: This ...

Amid ongoing upheaval at Tata Trusts, another close associate of the late industrialist Ratan Tata is stepping down. Pramit Jhaveri will be resigning from his position as a trustee on the Sir Dorabji Tata Trust board. Jhaveri, who was appointed to the board in February 2020 when Ratan Tata was chairman, has decided not to seek reappointment after his current term ends on February 11, 2026. Official Communication In a letter addressed to Noel Tata, chairman of Tata Trusts, Jhaveri stated that he has served as a trustee since February 12, 2020, a responsibility entrusted to him by the late Ratan Tata. He mentioned that he had discussed his decision with Noel Tata beforehand and is now formally notifying the board. Jhaveri described his tenure as an honor and extended his best wishes fo...

During Operation Sindoor, Turkey and Azerbaijan’s support for Pakistan has backfired, with Indian tourists now avoiding these destinations. This has led to a significant decline in tourism from India. New Delhi: Indian travelers are increasingly steering clear of Turkey and Azerbaijan after both countries openly supported Pakistan during Operation Sindoor. In recent months, the number of Indian tourists visiting these countries has dropped sharply. According to figures obtained by CNN-News18, between June and December, Indian tourist arrivals in Azerbaijan fell by 63%, while visits to Turkey declined by 34%. Data shows that since June last year, the number of Indian tourists visiting both countries has steadily decreased. Decline in Indian Tourist Numbers: Azerbaijan: 63% drop...

As feared, gold and silver prices saw a dramatic reversal on Friday, bringing an abrupt halt to the recent bull run. On the Multi Commodity Exchange (MCX), silver plunged by over ₹1,07,971 per kilogram (27%) to close at ₹2,91,922, while gold dropped ₹20,328 per 10 grams (12%) to settle at ₹1,49,075. Both metals had reached all-time highs just a day before — silver at ₹4,20,048 per kg and gold at ₹1,80,779 per 10 grams. Biggest One-Day Fall in 15 Years This sharp correction marks the largest single-day fall in silver prices in 15 years, pulling it below ₹3 lakh after hitting a record of ₹4 lakh. Gold, which had surged from ₹1 lakh to ₹4 lakh over 14 months, also reversed sharply, losing over ₹20,000 in a single day. Gold Investment Trends Despite the correction, gold remained a ...

India’s Maharatna companies, Steel Authority of India Limited (SAIL) and NTPC, reported robust profits for the third quarter of FY 2025-26. While SAIL posted a net profit of ₹441.70 crore, NTPC’s consolidated net profit rose to ₹5,067 crore. NTPC also announced its second interim dividend of the year at ₹2.75 per share. SAIL Reports Higher Profit During the quarter ended December 31, SAIL recorded a net profit of ₹441.70 crore, up from ₹426.79 crore in the same period last year. The company’s total revenue stood at ₹27,702.78 crore, marginally higher than ₹27,006.97 crore in the previous year. Chairman and Managing Director Amrendra Prakash attributed the improved profit to increased sales, efficient operations, and prudent financial management. “Despite fluctuations in raw materi...

Gold and silver prices witnessed a sharp decline on Friday, bringing significant relief to buyers after both precious metals recently touched record highs. The fall was visible across the Multi Commodity Exchange (MCX) as well as domestic bullion markets, marking one of the steepest single-day corrections in recent months. On the MCX, silver prices slipped below ₹3 lakh per kilogram, while gold fell under the ₹1.50 lakh mark per 10 grams. The sudden drop came as a surprise to investors, given the strong rally seen earlier amid global economic uncertainties. Sharp Correction from Record Highs Gold has seen extreme volatility this year. Its highest level stood at ₹1,80,779 per 10 grams, while the lowest was ₹1,49,075 per 10 grams. From its peak, gold has now declined by nearly 17.5%...

New Delhi: India’s rapidly growing aviation sector is taking a significant step toward sustainability as Indian Oil Corporation (IOC) and Akasa Air ink a major agreement to supply Sustainable Aviation Fuel (SAF). This eco-friendly fuel is designed to reduce environmental impact compared to conventional jet fuel. A Strong Move Towards Green FuelGlobally, airlines and fuel suppliers are actively preparing for a low-carbon future. In line with this trend, IOC and Akasa Air have signed a Letter of Intent (LOI) during Wings India 2026 in Hyderabad. The agreement lays the groundwork for sourcing and supplying SAF to help Akasa Air meet its sustainability goals. With India’s aviation market expanding rapidly, airlines face increasing pressure from regulators, investors, and customers to low...

New Delhi: Bank employees across India are set to participate in the nationwide general strike and roadblocks scheduled for 12 February 2026. This comes as central trade unions and farmer organizations protest against the government’s recently introduced four new labor codes and other labor policies perceived to be anti-worker. The All India Bank Employees’ Association (AIBEA) has officially extended support to the strike. Bank officers’ organizations, including the All India Bank Officers’ Association (AIBOA) and Bank Employees Federation of India (BEFI), have also urged their members to join. Consequently, most public sector banks are expected to remain closed on that day. Who Called the StrikeLeading trade unions, such as the Centre of Indian Trade Unions (CITU), All India Trade U...

Mumbai: India’s foreign exchange reserves have surged to an all-time high just ahead of the Union Budget 2026, breaking previous records and giving a major boost to the government’s economic confidence. According to the Reserve Bank of India (RBI), during the week ending 23 January 2026, the country’s forex reserves rose by $8.053 billion, taking the total reserves to $709.413 billion. This comes on the back of a $14.17 billion increase the previous week. The earlier record of $704.885 billion, set in the week ending 27 September 2024, has now been surpassed. Gold accounted for the largest share of this surge. Foreign Currency Assets (FCA) See Strong GrowthRBI data also showed a significant rise in India’s Foreign Currency Assets, a key component of the total reserves. During the wee...