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Nirmala Sitharaman to present ninth Union Budget with reforms in focus

Nirmala Sitharaman will present her ninth consecutive Union Budget today, with expectations centred on reforms, growth priorities, rural development and capital expenditure.

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Finance Minister Nirmala Sitharaman will present her ninth consecutive Union Budget today, marking another key moment in India’s economic policy calendar. The Budget is expected to lay out measures aimed at sustaining growth in what remains the world’s fastest-growing major economy.

For fiscal 2027, policy priorities are likely to include defence, infrastructure, capital expenditure, power and faster growth in affordable housing, according to expectations ahead of the presentation.

Shift in Budget speech structure

This year’s Union Budget is expected to break with a long-standing tradition in the structure of the finance minister’s speech. Until now, most major policy announcements were typically made in Part A, while Part B focused on taxation. This time, Part B is expected to be used to present a broader vision for India’s economic future.

The finance minister is also expected to outline short-term priorities as well as longer-term goals, positioning India’s economic strategy as the country moves deeper into the 21st century, with emphasis on domestic strengths and global ambitions.

Market backdrop ahead of Budget

Ahead of the Budget presentation, equity markets opened lower. Gold and silver futures also declined sharply on the Multi Commodity Exchange, extending the impact of a severe two-day global sell-off.

India’s economy has so far remained resilient despite punitive tariffs imposed by the United States under President Donald Trump. Growth is forecast at 7.4 per cent for the year ending March 31, supported by government spending on infrastructure and tax measures that boosted consumption.

Focus on rural development and jobs

Rural development and agriculture are expected to be among the top priorities in Union Budget 2026. The finance minister may announce higher allocations for programmes aimed at expanding employment opportunities in rural areas.

The Rural Development Ministry has sought a sharp increase in funding for the new employment guarantee scheme, ‘Viksit Bharat – G Ram G’ or VB-G Ram G, proposing a budget of Rs 1.51 lakh crore, a 72 per cent rise. In comparison, the Mahatma Gandhi National Rural Employment Guarantee Scheme received Rs 86,000 crore in the previous Budget.

Fiscal deficit and capital expenditure

The budgeted fiscal deficit for fiscal 2026 is estimated at 4.4 per cent of gross domestic product. With the government having achieved a consolidation path that brought the deficit below 4.5 per cent, markets will closely watch signals on further debt-to-GDP reduction.

Capital expenditure for the current fiscal year has been budgeted at Rs 11.2 lakh crore. The government is expected to continue prioritising capex, with a possible increase of 10 to 15 per cent, as private sector investment remains cautious.

Investment reforms and global challenges

Further policy changes aimed at attracting domestic and foreign investment are also expected. These may include steps to make it easier for foreign companies to invest in defence firms that already hold licences.

The Union Budget 2026 comes at a time of mixed signals globally. While domestic demand remains steady and inflation has eased from recent highs, uncertainties linked to geopolitics, commodity price volatility and uneven monetary policy easing by major central banks continue to pose challenges.

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Chandrashekhar Azad to be CM candidate of alliance with Owaisi for Uttar Pradesh elections

Asaduddin Owaisi and Chandrashekhar Azad have joined hands ahead of the 2027 Uttar Pradesh Assembly elections, bringing together the AIMIM and Azad Samaj Party in an effort to consolidate Dalit and Muslim voters.

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Asaduddin Owaisi’s All India Majlis-e-Ittehadul Muslimeen (AIMIM) and Chandrashekhar Azad’s Azad Samaj Party (Kanshi Ram) have joined hands ahead of the 2027 Uttar Pradesh Assembly elections, seeking to emerge as a third political force and draw support from sections of Muslim and Dalit voters.

As part of the alliance, Owaisi declared Chandrashekhar Azad as the alliance’s Chief Ministerial face for the 2027 Uttar Pradesh Assembly elections.

Owaisi had been seeking a place in the Opposition alliance for months and had even issued ultimatums to the Samajwadi Party and Congress. However, his efforts did not find takers.

The alliance brings together AIMIM’s focus on Muslim political representation and the Azad Samaj Party’s outreach among Dalit voters. Both parties are seeking to establish a political formation outside the BJP-led NDA and the Samajwadi Party-led opposition.

Why Owaisi and Chandrashekhar Azad joined hands

Uttar Pradesh AIMIM president Shaukat Ali said the party approached Chandrashekhar Azad after its efforts to reach an understanding with the Samajwadi Party, Congress and Bahujan Samaj Party did not succeed.

Ali said AIMIM wanted a broader alliance to prevent the BJP from returning to power in Uttar Pradesh for a third consecutive term.

He also criticised the Samajwadi Party-Congress alliance, questioning its prospects in the next Assembly elections.

Chandrashekhar Azad, the Lok Sabha MP from Nagina, said the partnership would focus on empowering young people, farmers and weaker sections of society.

He also raised concerns over employment opportunities, demonetisation and issues affecting educated youth from Dalit and backward communities.

What the alliance means for Akhilesh Yadav’s PDA strategy

Muslims account for around 20 per cent of Uttar Pradesh’s population, while Dalits constitute approximately 21 per cent.

Samajwadi Party chief Akhilesh Yadav has used the PDA formulation to bring together backward classes, Dalits and minorities. The AIMIM-Azad Samaj Party alliance is seeking support among two important sections of this broader social grouping.

Muslims account for around 20 per cent of Uttar Pradesh’s population, while Dalits constitute approximately 21 per cent.

What the parties’ previous election performance shows

Both AIMIM and the Azad Samaj Party have struggled to establish a significant presence in Uttar Pradesh Assembly elections.

In the 2022 Assembly elections, AIMIM contested more than 90 seats but secured less than 0.5 per cent of the total votes. The Azad Samaj Party contested more than 100 seats and received approximately 0.13 per cent of the votes.

Chandrashekhar Azad, however, won the Nagina Lok Sabha constituency in 2024, giving his party its first elected representative in Parliament.

The alliance is now attempting to combine AIMIM’s support among sections of Muslim voters with Azad’s outreach among Dalit communities.

Its electoral prospects will depend on the seat-sharing arrangement, local leadership and whether the two parties can translate their combined social outreach into electoral support.

SP leaders respond to the alliance

Samajwadi Party MP from Ayodhya, Awadhesh Prasad, dismissed the electoral significance of the AIMIM-Azad Samaj Party alliance. He said that people in Uttar Pradesh had lost faith in the BJP government and described Akhilesh Yadav as the only leader capable of removing the BJP from power in 2027.

The alliance’s formation could therefore become an important factor in the political discussions ahead of the 2027 Assembly elections, particularly because both leaders are seeking support among communities that the Samajwadi Party also hopes to bring together through its PDA formulation.

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Mother Dairy raises milk prices by Rs 2-4 per litre from November 12

Mother Dairy has increased milk prices by Rs 2-4 per litre from November 12. Full cream milk will now cost Rs 76 per litre, while toned milk will be priced at Rs 62.

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Mother Dairy has increased the prices of its liquid milk variants by Rs 2 to Rs 4 per litre, with the revised rates coming into effect from Thursday, November 12. The price revision will affect consumers in the Delhi-NCR market, where the dairy company is a major milk supplier.

The increase comes amid rising input costs, particularly higher procurement prices paid to farmers. According to sources, the company has decided to pass on part of the additional cost to consumers.

A spokesperson for Mother Dairy declined to comment on the latest price revision.

Check new Mother Dairy milk prices

The revised rates cover several liquid milk variants sold in the NCR market. Full cream milk has seen the highest increase of Rs 4 per litre.

Here are the revised prices:

Milk variantOld priceNew price
Toned milk (bulk vended)Rs 58Rs 60
Full cream milk (pouched)Rs 72Rs 76
Toned milk (pouched)Rs 60Rs 62
Double toned milkRs 54Rs 56
Cow milkRs 62Rs 65

The new prices will be applicable from November 12.

Why Mother Dairy has increased milk prices

The latest revision follows an increase in the procurement prices of milk from farmers. Sources said the higher procurement costs have prompted Mother Dairy to partly transfer the additional input expenses to consumers.

The company passes on around 75-80 per cent of its milk sales realisation to farmers.

Mother Dairy had last increased milk prices on May 14, 2026. Before that, its previous price revision took place in April 2025.

Mother Dairy’s daily milk sales

Mother Dairy sells approximately 35 lakh litres of milk every day in the Delhi-NCR market through its own outlets, general trade channels and e-commerce platforms.

Its overall daily milk sales exceed 50 lakh litres.

The company recorded a 17 per cent increase in turnover to Rs 20,300 crore in the last financial year. The growth was supported by improved demand for its milk products and cooking oils.

About Mother Dairy

Commissioned in 1974, Mother Dairy is a wholly owned subsidiary of the National Dairy Development Board (NDDB).

The company sells milk and milk products under the Mother Dairy brand. It markets edible oils under the Dhara brand, while fresh fruits and vegetables, frozen vegetables, snacks, pulps and concentrates are sold under the Safal brand.

Mother Dairy operates nine milk processing plants and four horticulture processing plants. Its edible oil operations are supported by 16 associated plants.

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Air pollution as big a health emergency as COVID, says former WHO chief Soumya Swaminathan

Former WHO Chief Scientist Dr Soumya Swaminathan said air pollution should be treated with the same urgency as COVID, highlighting its effects on children, pregnancy and multiple organs.

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Air pollution should be treated as a major public health emergency requiring an urgent and coordinated response, former World Health Organisation (WHO) Chief Scientist Dr Soumya Swaminathan has said.

In an exclusive interview, Dr Swaminathan compared the scale of the air pollution health crisis with COVID and said its effects can extend across the body, including the brain, lungs and cardiovascular system. She also highlighted links between pollution exposure and conditions such as asthma and diabetes.

Why air pollution needs a COVID-like response

Dr Swaminathan said COVID triggered an immediate public response because it was sudden, visible and associated with an unknown virus. Air pollution, by contrast, is often less visible and its effects accumulate over time.

She said people may become accustomed to pollution because it is not always visible, particularly outside the winter months. But she stressed that prolonged exposure can still cause serious health damage.

She called for the issue to receive an “equal, urgent, coordinated and scientific” response, similar to the approach taken during the COVID crisis.

PM2.5 poses risks from pregnancy to childhood

Dr Swaminathan also highlighted concerns about exposure to fine particulate matter, particularly PM2.5, among pregnant women and children.

According to her, these tiny particles can enter the lungs and bloodstream and may also reach the placenta. She pointed to higher rates of premature births and low birth weight among babies born in areas where mothers are exposed to high levels of air pollution.

She also said children are particularly vulnerable because their brains and other organs are developing rapidly. Children breathe faster than adults, and those growing up in heavily polluted areas can have smaller lungs, she said.

Why AQI may not tell the full health story

Dr Swaminathan suggested moving beyond the conventional Air Quality Index (AQI) towards an Air Quality Health Index (AHQI).

The proposal would place greater emphasis on how individual pollutants affect different groups of people. She noted that the dominant pollutant can vary from one city to another, while its health impact may also differ for groups such as pregnant women and children.

The current AQI uses eight major pollutants as parameters: PM10, PM2.5, ozone, sulphur dioxide, nitrogen dioxide, carbon monoxide, lead and ammonia. The overall AQI is determined by the highest pollutant sub-index.

Swaminathan does not favour shutting schools

On protecting children from polluted air, Dr Swaminathan said she was not in favour of simply closing schools.

She argued that children from poorer families may continue breathing polluted air at home, while also losing access to education, social interaction and midday meals.

Instead, she suggested making school environments cleaner. Her proposals included installing air purifiers in classrooms, providing pick-and-drop bus facilities and encouraging older children to wear masks when outdoors.

Five measures suggested to tackle pollution

Dr Swaminathan outlined five key measures for addressing the pollution crisis:

  1. Launch a national clean air programme, which she suggested could be called the “Swachh Vaayu Abhiyan”.
  2. Prepare a costed, long-term plan with sustained investment and study lessons from countries such as China.
  3. Establish empowered leadership and accountability for tackling air pollution.
  4. Create a panel of experts to develop a science-based, multi-sectoral and multi-year plan.
  5. Put health at the centre of air pollution policy.

She also supported treating the right to clean air as a basic public health entitlement, linking it to the constitutional right to life.

Dr Swaminathan’s central argument was that air pollution should no longer be treated as a slow-moving or routine environmental problem, but as a serious health crisis requiring sustained action.

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