The Big Story
3 Feb. 2026
By Shaswata Kundu Chaudhuri
15 Jan. 2026
By M Rajshekhar and Archana Chaudhary
Latest Stories
Over-use of CDR in Climate Targets Risks Breaching 1.5°C Limit: Study
A new study by University of Oxford researchers stated that countries relying heavily on carbon dioxide removal (CDR) to reach their national climate targets risk breaching the 1.5°C limit and international legal obligations. The CDR process involves deliberate, human-led actions to remove CO2 directly from the atmosphere and store it on a geological sphere.
Union Budget 2026: Strong fiscal signals, fragmented support for India’s energy transition
Against a backdrop of global economic uncertainty, the Union Budget 2026 underscores the government’s continued emphasis on fiscal discipline. The government has committed to reducing the fiscal deficit to 4.4% of GDP in FY2026-27 and further to 4.3% in FY2027, while continuing to lower the debt-to-GDP ratio, estimated at 55.6% in the coming fiscal year. This emphasis on fiscal consolidation is critical for maintaining investor confidence and long-term macroeconomic stability.
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India-EU FTA will cut tariffs on European cars, EVs to benefit by 2032
The Free Trade Agreement (FTA) between India and the European Union (EU) is a boon for buyers interested in scooping up European-made cars. According to the FTA, import tariffs on cars manufactured in Europe will reduce from as high as 110% to as low as 10%, according to reports. The number of cars which can be sold under the FTA, however, has been capped to 250,000 vehicles.
Solar power allocation up 32% at ₹30,539 crore
The budget allocation for the solar sector increased from ₹24,200 crore (~$2.64 billion) in 2025 to ₹30,539.36 crore (~$3.33 billion) this year. The outlay for the Pradhan Mantri Krishi Urja Suraksha Evam Utthaan Mahabhiyan (PM KUSUM) programme has gone up from ₹26 billion (~$283.57 million) last year to ₹50 billion (~$545.33 million) in Budget 2026. The flagship PM Surya Ghar: Muft Bijli Yojana continues to dominate the allocations, with spending set to rise from ₹200 billion (~$2.18 billion) to ₹220 billion (~$2.39), Mercom reported. Out of ₹30,539.36 crore outlay, ₹1,775 crore was allocated for the solar power grid in 2027 against 1000 crore marking 77.5% rise, reported ET.
Air quality management allocation dips 10%, pollution control outlay down 2% in budget 2026-27
Air quality management suffered a nearly 10% dip in outlay under the Union Budget for 2026-27. Allocation to the central pollution control authority dipped slightly by 2%, DTE reported.
India-US Trade Deal: Trump Announces Tariff Cuts on India, India to End Russian Oil Purchase
US President Donald Trump announced the new US-India trade deal on social media, stating that the US will slash the existing tariffs on Indian goods from 50% to 18% following a call with Indian Prime Minister Narendra Modi in exchange for India halting its oil trade with Russia and potentially buying oil from the US and Venezuela, reported Reuters.
