India-US Trade Breakthrough: Trump Slashes Tariffs to 18% Following Modi Call In a historic pivot for global commerce, US President Donald Trump announced on February 2, 2026, that the United States and India have reached a comprehensive trade agreement. The deal, finalized during a telephone conversation between President Trump and Prime Minister Narendra Modi, marks a sudden de-escalation of the trade tensions that had gripped both nations throughout late 2025. According to the announcement, the US will immediately reduce its “Reciprocal Tariff” on Indian goods from the punishing 25% rate down to 18%. A Shift in Global Energy & Trade

Cigarette Prices Surge Across India as New Excise Duty Takes Effect Starting today, February 1, 2026, smokers across India are waking up to significantly higher prices at retail counters. Following the rollout of the Union Budget 2026 and the implementation of a revised tax structure, cigarette prices have jumped by ₹22 to ₹55 per pack of 10 sticks, depending on the brand and length. The price hike is the result of a major overhaul in “sin tax” where the central government has replaced the old GST compensation cess with a new Additional Excise Duty and a Health and National Security

Budget 2026: STT Hike on F&O Sends Shockwaves Through Markets The Union Budget 2026 has introduced a significant hurdle for high-frequency and derivative traders. Finance Minister Nirmala Sitharaman announced a hike in the Securities Transaction Tax (STT) on Futures and Options (F&O) transactions. This move is widely seen as an attempt to curb the “hyper-activity” in the retail derivative segment, which the Income Tax department recently noted has surged to a turnover exceeding 500 times the national GDP. Immediately following the announcement, the benchmark indices took a hit, with the Nifty and Sensex sliding by nearly 2%. Brokerage stocks were

Finance Minister Nirmala Sitharaman presented the Union Budget 2026-27 today, marking her record ninth consecutive presentation. While the middle class was eyeing major tax breaks, the government stayed the course on fiscal consolidation, focusing heavily on infrastructure and domestic manufacturing instead. The total budget size is pegged at Rs 53.5 lakh crore, with a significant push toward a capital expenditure (Capex) target of Rs 12.2 lakh crore. Income Tax: No Changes in Slab Rates In a move that might leave salaried professionals wanting more, the Finance Minister has kept the income tax slabs unchanged for the financial year 2026-27. The

Union Budget 2026: Defence Allocation Gets Significant 15% Hike Finance Minister Nirmala Sitharaman has presented the Union Budget 2026, marking a substantial increase in the nation’s security spending. The total defence budget has been pegged at ₹7.85 lakh crore, which represents a 15% jump over the previous fiscal year. This move is largely seen as a response to the evolving security dynamics along India’s borders and the continued push for indigenous manufacturing. A major highlight of this year’s allocation is the focus on capital expenditure. The government is prioritizing the modernization of the Army, Navy, and Air Force. While some