NEW DELHI: Prime Minister Narendra Modi on Sunday hailed the Union Budget 2026 as “historic”, saying it charts a clear roadmap towards achieving the goal of a Viksit Bharat by 2047 and gives fresh momentum to India’s reform journey. He also highlighted the recently signed “mother of all deals” between India and EU in his address.Praising finance minister Nirmala Sitharaman for presenting the Budget, PM Modi said it symbolised women’s empowerment, noting that Sitharaman has created a record by presenting the Union Budget for the ninth consecutive time.“Today’s budget is historic. It reflects the strong empowerment of the nation’s women power. As a woman Finance Minister, Nirmala ji has created a new record by presenting the country’s budget for the ninth consecutive time. This budget is a highway of immense opportunities. It turns today’s aspirations into reality and strengthens the foundation of India’s bright future,” the Prime Minister said.Describing the Budget as a key step towards long-term national goals, Modi added, “This budget is a strong foundation for our high flight toward a developed India by 2047. Friends, the reform express on which India is riding today will gain new energy and new momentum from this budget.”He said India’s ambitions go beyond being the world’s fastest-growing economy. “…The 140 crore citizens of India are not satisfied with being the fastest-growing economy; we want to become the world’s third-largest economy as soon as possible,” Modi said.Referring to global engagement, the Prime Minister said India has signed the “mother of all deals” with the European Union, aimed at maximising benefits for the country’s youth and small and medium industries. He said the Budget presents an ambitious roadmap to accelerate the Make in India and Atmanirbhar Bharat initiatives.Highlighting key proposals, PM Modi said measures such as the Bio-Pharma Shakti Mission, Semiconductor Mission 2.0, the Electronics Component Manufacturing Scheme, the creation of a Rare Earth Corridor, emphasis on critical minerals, new schemes for the textile sector, promotion of high-tech toy manufacturing, and the development of champion MSMEs are future-oriented steps that address both present and long-term needs.“I believe the support our budget provides to MSMEs and small industries will give them the strength to grow from local to global,” he said, adding that the government has taken major steps to strengthen infrastructure. These include expanding dedicated freight corridors, developing high-speed rail, focusing on Tier-2 and Tier-3 cities, and promoting municipal bonds to give cities a stronger economic base.Earlier in the day, finance minister Sitharaman presented the Union Budget for the 2026–27 financial year in the Lok Sabha, marking her ninth consecutive Budget presentation.

NEW DELHI: The Union Budget 2026 has set aside Rs 7.85 lakh crore for defence, marking a sharp increase from Rs 6.81 lakh crore last year. According to official figures, the defence outlay for 2026-27 stands at Rs 7,84,678 crore, compared with Rs 6,81,210 crore in the previous financial year. Of this, the capital outlay has been pegged at Rs 2,19,306 crore, while revenue expenditure stands at Rs 5,53,668 crore, including Rs 1,71,338 crore for pensions.The armed forces will receive Rs 2.19 lakh crore for modernisation, with allocations including Rs 63,733 crore for aircraft and aero engines and Rs 25,023 crore for the naval fleet. The defence ministry has several major projects in the pipeline, including contracts for Rafale fighter jets, submarines and unmanned aerial vehicles.In comparison, the capital outlay in 2025-26 was pegged at Rs 1,80,000 crore, which was later raised to Rs 1,86,454 crore at the revised estimate stage.In her budget speech, finance minister Nirmala Sitharaman proposed exempting basic customs duty on components and parts required for the manufacture of civilian, training and other aircraft. She also announced the waiver of basic customs duty on raw materials imported for the manufacture of aircraft parts used for maintenance, repair or overhaul by defence sector units. The measures are expected to provide a boost to the defence aerospace industry.Meanwhile, the Defence Services (Revenue) and Capital Outlay were allocated Rs 3,65,478.98 crore and Rs 2,19,306.47 crore, respectively, reflecting jumps of 17.24 per cent and 21.84 per cent.In a boost to the defence sector, Sitharaman announced, “It is proposed to exempt basic customs duty on raw materials imported for the manufacture of parts of aircraft to be used in maintenance, repair or overall requirements by units in the defence sector.”

Nirmala Sitharaman (Image credit: X)

NEW DELHI: The government’s flagship Khelo India programme, aimed at identifying grassroots sporting talent, is set for a major push after Finance Minister Nirmala Sitharaman announced plans to launch a Khelo India mission that will also prioritise the long-term development of training centres and coaches over the next decade.While presenting the Union Budget 2026–27, Sitharaman said the proposed mission would enable an integrated talent development framework through interconnected pathways. Launched in 2017, the Khelo India programme initially focused on organising national-level competitions across age groups to identify emerging talent.

“Sports sector provides multiple means of employment, skilling and job opportunities. Taking forward the systematic nurturing of sports talent which is set in motion through the Khelo India programme, I propose to launch a Khelo India mission to transform the sports sector over the next decade,” Sitharaman said during her Budget speech in the Lok Sabha.She added that the mission will facilitate several key areas of growth.“The mission will facilitate: (a) an integrated talent development pathway supported by training centres which are foundational, intermediate and elite levels; (b) systematic development of coaches and support staff; (c) integration of sports science and technology; (d) competitions and leagues to promote sports culture and provide platforms; (e) development of sports infrastructure for training and competition.”The Finance Minister also highlighted India’s potential to become a global centre for high-quality, affordable sports equipment.“I proposed a dedicated initiative for sports goods that will promote manufacturing, research and innovation in equipment design as well as material sciences,” she said.Recently, a Sports Ministry-appointed task force headed by Pullela Gopichand had called for increased focus on creating a strong pool of high-quality coaches. The panel recommended introducing a Target Olympic Podium Scheme for coaches, ensuring they receive financial backing similar to elite athletes to strengthen India’s medal ambitions.India is set to host the 2030 Commonwealth Games and has also submitted a bid to stage the Olympic Games in 2036.

BENGALURU: Confident Group chairman C J Roy was found dead at his office in Langford Town here on Friday after sustaining a gunshot injury. The 57-year-old real estate tycoon allegedly shot himself on the left side of his chest using his pistol between 3pm and 3.10pm.The weapon is believed to be licensed, though this is still under verification.According to preliminary information, a team of Income Tax (I-T) officials from Kochi, Kerala, working with their Bengaluru counterparts, had been conducting searches at the Confident Group office here for the past three days. It was described as a continuation of a larger raid carried out last month, during which I-T officials scrutinised and seized certain documents.Also read: Confident Group chairman CJ Roy’s death at Bengaluru office: 6.35mm bullet from Austria-made pistol pierced his heart

On Friday, the I-T department team arrived at Roy’s office around 12 pm. Police sources said Roy reached the premises around 2 pm. While he was initially told that he was free to leave, the I-T officials later advised him to stay back to sign and review certain documents.Around 3 pm, Roy reportedly told the I-T officials that he had some documents in his cabin and went inside. Minutes later, a gunshot was heard. Police did not confirm whether the cabin was under CCTV surveillance.

Roy kept briefcase with pistol & docus always close to him: Source

Police quoted I-T officials as saying: “Roy was not restricted from doing his regular work today, as we were only conducting scrutiny to lift prohibitory orders against his firm.” Roy’s wife and two children — a son and a daughter, both in their early 20s — are based in Dubai and are expected to reach Bengaluru early on Saturday.Also read: Who was Confident Group chairman CJ Roy? Kerala-born entrepreneur, philanthropist and luxury car aficionadoWhile Roy’s mother lives near Nexus mall in Koramangala, an aide said he rarely stayed with her. He usually opted for five-star hotels in the central business district during his visits to Bengaluru. “While there is one bullet wound on Roy’s body, we need to investigate further to ascertain how many rounds he might have fired,” police said.

A senior investigating officer said immediately after the shot was heard, “employees and officials raised an alarm, and Roy was rushed to Narayana Hospital in HSR Layout, where doctors declared him dead on arrival”.A close aide told TOI that Roy always kept his briefcase close to him, as it contained his pistol. “On rare occasions when he left it behind, he would immediately send his bodyguards to fetch it,” the aide added.City police commissioner Seemant Kumar Singh said, “While we know it was a hand-held weapon, its exact make and calibre need to be confirmed by the ballistics team, which is conducting its probe.”Read also: High-end cars, chopper rides, travel stories: Confident Group chairman CJ Roy had 1.3M Instagram followersA formal case was registered based on a complaint by T A Joseph, founding-director and MD of the Confident Group. An investigating officer confirmed that the complaint did not make any allegations against the I-T officials. “We, therefore, registered a case of unnatural death. We may file a separate FIR in case if the family members make any fresh allegations,” the officer said.“In all these years of working with Roy, he never came across as weak-hearted. His death comes as a shock,” an aide said.‘I-T officials are solely responsible for his death’Roy’s brother, CJ Babu, who owns WhiteGold, told reporters that Income Tax officials from Kerala had been carrying out searches in Bengaluru for the last three days. Alleging official pressure, Babu claimed Roy died by suicide using a pistol and held the I-T team responsible for his death.Also see: Inside Confident Group chairman CJ Roy’s luxury car collection: 12 Rolls-Royce, Bugatti, Lamborghinis and more – PhotosHe said that although Roy’s family lives in Dubai, Roy had come back to Bengaluru after being directed by I-T officials to remain present in the city. The family is likely to reach Bengaluru early on Saturday.

Union finance minister Nirmala Sitharaman on Sunday proposed the establishment of dedicated rare earth corridors in Odisha, Andhra Pradesh, Tamil Nadu and Kerala as part of the Union Budget for 2026–27, aiming to reduce India’s dependence on imports and strengthen domestic capabilities in critical minerals.Presenting the Budget in Parliament, Sitharaman said the Centre would “support mineral-rich states to promote mining, processing, research and manufacturing of rare earth elements and permanent magnets”, which are crucial for clean energy, electronics, defence and electric mobility.

The finance minister said, “The budget proposes raising the Electronics Components Manufacturing Scheme outlay from 22,999 crores to 40,000 crores, alongside new initiatives such as ISM 2.0, rare earth corridors, and dedicated chemical parks.”The proposal builds on the scheme for rare earth permanent magnets that was launched in November 2025, she said, adding that the government now proposes to scale up support for states to establish dedicated corridors focused on the full value chain – from extraction to advanced manufacturing.

Reducing import dependence

Rare earth minerals are a group of 17 elements used in high-tech products such as electric vehicle motors, wind turbines, smartphones, semiconductors, defence systems and precision electronics. India currently imports a significant share of its rare earth requirements, with China dominating global production and processing.China controls a large portion of the world’s rare earth refining capacity and has, in recent years, tightened export controls on critical minerals, raising concerns over supply disruptions for manufacturing economies like India.The proposed corridors are aimed at building domestic capacity and insulating Indian industry from global supply shocks.

Polls bound states in focus

Two of the four states identified for the proposed rare earth corridors – Tamil Nadu and Kerala – are scheduled to go to Assembly polls later this year, bringing added political attention to the Budget announcement. Both states have significant coastal mineral reserves, including monazite-rich sands that contain rare earth elements, making them central to India’s critical minerals strategy. The proposed support for mining, processing and research infrastructure is expected to be closely watched in the run-up to the elections, particularly for its potential impact on investment, employment and industrial activity in the states.

Chemical parks and manufacturing push

As part of a broader industrial strategy, FM also announced a scheme to support states in setting up three dedicated chemical parks through a challenge-based route. The parks will follow a cluster-based, plug-and-play model to boost domestic chemical production and further cut import dependence. The measures are aligned with the government’s push to strengthen capital goods manufacturing and secure supply chains for strategic sectors.The Budget proposals come amid growing global competition for access to critical minerals, with countries accelerating efforts to localise production and processing of rare earths and other strategic materials.

The stage is set at the historic Gaddafi Stadium for the final act of this three-match T20I series. While the series trophy is already safely in the hands of the hosts, there is plenty more than just pride at stake. With the 2026 T20 World Cup in India and Sri Lanka just 11 days away, this match serves as the ultimate dress rehearsal for two sides trending in very different directions.

Pakistan have been clinical, securing a 22-run victory in the opener and following it up with a 90-run demolition of the Aussies yesterday. Led by Salman Ali Agha, who has thrived in his new role at No. 3, the Pakistanis have used their spin-heavy arsenal to turn Lahore into a fortress. For Mitchell Marsh’s Australia, the series has been a wake-up call; they’ve struggled to read the variations of Pakistan’s five-pronged spin attack, losing all 10 wickets to slow bowlers in the second match.

PAK vs AUS, 3rd T20I: Match Details

• Date and Time: February 1 (Sunday); 4:30 pm IST / 11:00 am GMT / 4:00 pm LOCAL
• Venue: Gaddafi Stadium, Lahore

Head-to-Head Record (T20Is):

Matches played: 30 | Australia won: 13 | Pakistan won: 16 | No results: 1

Gaddafi Stadium Pitch Report

The surface for the third T20I is likely to mirror the first two games, presenting a classic subcontinental wicket that allows batters to score freely early before bringing spin into the game as it wears on. In the previous matches, the ball held up for the slower bowlers, and once the Powerplay passed, chasing became increasingly tricky. While Lahore has traditionally produced high-scoring contests, with the T20 World Cup just around the corner, the pitches appear to be prepared to challenge teams in the middle overs and reward smart tactics. Given how effectively Pakistan’s spinners defended their total, the toss-winning captain may consider batting first this time to avoid the pressure of a spin-heavy chase, even though dew in the evening could still influence conditions.

Squads

Pakistan: Sahibzada Farhan, Saim Ayub, Salman Agha (c), Babar Azam, Usman Khan (w), Shadab Khan, Mohammad Nawaz, Faheem Ashraf, Naseem Shah, Usman Tariq, Abrar Ahmed, Shaheen Afridi, Fakhar Zaman, Mohammad Wasim Jr, Salman Mirza, Khawaja Nafay

Australia: Matthew Short, Travis Head, Mitchell Marsh (c), Cameron Green, Josh Inglis (wk), Matt Renshaw, Cooper Connolly, Xavier Bartlett, Sean Abbott, Matthew Kuhnemann, Adam Zampa, Marcus Stoinis, Ben Dwarshuis, Josh Philippe, Jack Edwards, Mitchell Owen, Mahli Beardman

Also READ: PAK vs AUS, T20I Series: Broadcast, Live Streaming details – When and where to watch in Pakistan, Australia, USA, UK & other countries

PAK vs AUS, 3rd T20I: Today’s Match Prediction

Case 1:

• Pakistan wins the toss and bats first
• Pakistan powerplay score: 40-50 (6 overs)
• Pakistan total score: 180-190

Case 2:

• Australia wins the toss and bats first
• Australia powerplay score: 50-60 (6 overs)
• Australia total score: 190-200

Match result: Australia to win the contest.

Also READ: Here’s why the Pakistan vs Australia T20I series is not being broadcast in India

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