📰 India Business Brief: Top Headlines for February 02, 2026

Business Standard

• Finance Minister Nirmala Sitharaman emphasizes the "ripple effects" of Budget 2026, focusing on tier-2 and tier-3 cities to decentralize economic growth.
• The government unveils a massive ₹16 trillion plan for seven high-speed rail corridors, aiming to replicate the Mumbai-Ahmedabad bullet train model across the "South High-Speed Triangle."
• A new ₹10,000 crore Growth Fund has been established to provide equity and liquidity support to small and medium enterprises (SMEs).
• Moody’s Ratings describes the 2026 Budget as "tactical," noting its focus on fiscal stability and sustainable growth rather than major structural breakthroughs.
• Developmental aid to Bangladesh has been slashed by 50% to ₹60 crore for FY27, reflecting a significant downturn in bilateral relations.

Economic Times

• Morgan Stanley pegs India's nominal GDP growth at 10% for FY27, citing the budget's focus on cyclical growth and fiscal consolidation.
• The Union Budget sets a record capital expenditure of ₹12.22 lakh crore for FY27, representing 4.4% of the national GDP.
• A unified safe harbour regime at 15.5% for IT and related services has been introduced to provide tax predictability for global enterprises.
• Air India CEO Campbell Wilson hints at potential new orders for Boeing 787 Dreamliners as the carrier scales up its international operations.
• The government proposes to monetise real estate assets of Central Public Sector Enterprises (CPSEs) through dedicated Real Estate Investment Trusts (REITs).

Mint

• Gift Nifty signals a flat to marginally higher start for the Sensex and Nifty 50 today as investors stabilize after the Sunday crash triggered by the Securities Transaction Tax (STT) hike.
• Travelers receive a boost as the duty-free baggage limit is increased from ₹50,000 to ₹75,000, effective from February 2, 2026.
• Budget 2026 proposes the removal of tax deductions for interest expenses related to dividend and mutual fund income, previously capped at 20%.
• Tax Collected at Source (TCS) for overseas education, medical treatment, and tour packages under the Liberalised Remittance Scheme (LRS) has been reduced to 2% from 5%.
• The government allocates ₹250 crore to support talent development in the animation, visual effects, and gaming sectors as part of the "Orange Economy" push.

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