Times of India

Mick Jagger’s ode to Lucifer could very easily be retrofitted for Novak Djokovic, a figure for whom tennis fans have developed a begrudging sympathy over the years. But Carlos Alcaraz had no such sympathy. He had his own date with destiny.

Unidentified assailants fired four rounds outside director Rohit Shetty's Mumbai residence early Sunday. While no injuries were reported, security has been heightened, and five suspects have been detained in Pune. The film industry has expressed shock and concern, urging the Chief Minister to intervene.

Maharashtra CM Devendra Fadnavis expressed surprise regarding any potential merger talks between NCP factions, stating Ajit Pawar always confided in him. This follows Sharad Pawar's claim that Ajit Pawar had set February 12 for a merger announcement. Ajit Pawar's wife, Sunetra Pawar, was recently sworn in as Deputy CM.

Cigarette prices have surged by Rs 22-25 per pack of 10 following a new excise duty regime, the first tax hike in seven years. This move aligns India's tobacco taxation with global health standards. Premium cigarettes will see significant price increases, with distributors anticipating new MRPs from Monday. Concerns about smuggling and counterfeit products are rising.

Ukraine's President Zelenskyy announced a delay in crucial trilateral talks with Russia and the US, now set for February 4-5 in Abu Dhabi. This follows surprise US-Russia discussions in Florida, highlighting ongoing diplomatic efforts despite unresolved territorial disputes. Both sides remain committed to finding a peaceful resolution to the protracted conflict.

Finance Minister Nirmala Sitharaman's Union Budget 2026 incorporates poll-bound states into ambitious development initiatives like rare earth corridors and high-speed rail networks. While not offering state-specific bonanzas, the budget includes infrastructure, logistics, and tourism boosts for West Bengal, Tamil Nadu, Kerala, Assam, and Puducherry.

Carlos Alcaraz won his first Australian Open, defeating Novak Djokovic 2-6, 6-2, 6-3, 7-5 to deny him a record 25th Grand Slam. At 22, Alcaraz became the youngest man in the Open era to complete a career Grand Slam. After losing the first set, he dominated with pace and power, sealed his seventh major, and cemented his world number one status.

The IFTFA, while expressed deep safety concerns, also sought personal intervention from Maharashtra Chief Minister Devendra Fadnavis.

The Union Budget 2026 allocates a record Rs 7.85 lakh crore for defence, a 15% increase, prioritizing military modernization. Key procurements include Rafale jets, six next-generation submarines under Project 75(I), and indigenous unmanned interceptor crafts, bolstering India's air, sea, and land capabilities.

Starting April 1, 2026, India will see increased Securities Transaction Tax (STT) on futures and options trading. The Finance Minister announced higher rates for options premium, exercise, and futures, aiming to moderate speculative activity. This change, part of Budget 2026, will slightly raise trading costs for derivatives participants, while equity and mutual fund STT rates remain untouched.

Union Budget 2026–27 strengthens India’s central school systems with higher allocations for Kendriya and Navodaya Vidyalayas. Funding for KVS rises to ₹10,129.41 crore, while NVS receives ₹6,025 crore, signalling continued support for urban and rural learners. The increases, part of a wider school education budget expansion, focus on sustaining infrastructure, staffing, and residential facilities amid rising enrolment and operating costs.

Union finance minister Nirmala Sitharaman unveiled the government's Viksit Bharat vision for Non-Banking Financial Companies, setting clear targets for credit expansion and technology adoption. Key public sector NBFCs like Power Finance Corporation and Rural Electrification Corporation will be restructured to boost efficiency. This initiative, alongside a banking sector review, aims to strengthen India's financial system for sustained reform-led growth.

Union Budget 2026, hailed as a "highway of immense opportunities," focuses on economic growth, meeting aspirations, and equitable resource distribution. Key proposals include infrastructure development, tourism promotion, pharmaceutical sector investment, and measures to boost women entrepreneurship and the textile industry. However, markets reacted negatively to increased Securities Transaction Tax, impacting traders and promoters.

Union Budget 2026 maintains the existing income tax framework, with the new regime offering tax-free income up to Rs 12 lakh for individuals. While the old regime continues with its deductions, the new system has been progressively liberalized since 2020, making it increasingly attractive for middle-income taxpayers.