In the wake of rising global tensions and concerns over supply chains, the Indian government has taken a firm stance regarding the possibility of a lockdown. Union Minister Hardeep Singh Puri and Finance Minister Nirmala Sitharaman have both publicly stated that there is no proposal for a lockdown in India, dismissing rumors as baseless. This reassurance comes as a relief to many who vividly remember the nationwide lockdown that was announced on March 24, 2020, in response to the Covid-19 pandemic.

Before this recent clarification, there was a surge in public anxiety, driven by memories of the drastic measures taken during the pandemic. As of February 2, 2026, India reported only seven active Covid-19 infections, indicating a significant decline in cases. However, the ongoing conflict in West Asia has raised concerns about potential disruptions in energy supplies and essential commodities, prompting citizens to search for information about a possible lockdown.

Prime Minister Narendra Modi has also weighed in on the situation, warning of serious consequences if global disruptions persist due to the war. He emphasized the importance of ensuring uninterrupted availability of fuel and energy supplies, highlighting the critical nature of the Strait of Hormuz, which is a vital route for nearly 20% of the world’s oil and gas supplies.

In response to these challenges, the Indian government is closely monitoring developments across energy and supply chains. Hardeep Singh Puri stated, “The global situation remains in flux, and we are closely monitoring developments.” This proactive approach aims to mitigate any potential impact on the Indian economy and ensure that essential services remain operational.

Nirmala Sitharaman reiterated the government’s commitment to avoiding a repeat of the past lockdown, stating, “There shall not be any lockdown.” This statement is crucial for maintaining public confidence as citizens navigate the uncertainties posed by global events. The government is focused on building resilience, as Modi noted, “India is therefore accelerating all the resilience-building measures that have been undertaken over the past years.”

Despite the reassurances from government officials, the spike in searches for ‘lockdown in India’ indicates that the public remains wary. The memories of the 2020 lockdown are still fresh, and the fear of similar restrictions can easily resurface, especially in light of the ongoing global crises.

As the situation evolves, the Indian government continues to emphasize its commitment to transparency and public safety. While the current status shows no immediate threat of a lockdown, the landscape remains dynamic, and officials are prepared to respond to any changes. Details remain unconfirmed regarding future measures, but the government’s current stance is clear: India will not revert to the lockdown measures of the past.

The post India Lockdown: Government Dismisses Rumors Amid Global Tensions appeared first on berightnews.

The Lok Sabha passed the Finance Bill 2026, implementing crucial amendments that clarify the surcharge on share buybacks. A flat 12% surcharge will now apply, with the consideration received by shareholders treated as capital gains and taxed at 30% for promoters and 22% for promoter companies.

These amendments are designed to enhance the clarity of tax treatment for share buybacks, which is particularly relevant for small and mid-sized companies. Sandeepp Jhunjhunwala noted, “The impact of this amendment, however, would largely be limited to small and mid-sized buybacks, as large buybacks where gains exceed ₹1 crore are already subject to a higher surcharge rate of 15%.” This indicates a targeted approach to taxation that aims to support smaller market players.

In a significant move to bolster the cooperative sector, Finance Minister Nirmala Sitharaman announced a three-year tax exemption on dividend income for cooperative federations. She emphasized the importance of cooperatives, MSMEs, and farmers for employment generation and economic growth, stating, “The move is aimed at boosting incomes of small cooperative members and encouraging wider participation in the sector.” This initiative is expected to enhance the financial viability of cooperatives, which play a crucial role in rural economies.

The Finance Bill also raises the turnover limit in the startup tax holiday framework from ₹100 crore to ₹300 crore, a change aimed at fostering innovation and growth in the startup ecosystem. This adjustment reflects the government’s commitment to supporting emerging businesses, which are vital for economic dynamism.

Moreover, the budget provision for public capital expenditure exceeds 12 lakh crore rupees, representing 3.1% of GDP. This budget is 11.5% higher than the revised estimates for 2025-26, indicating a robust approach to infrastructure development. Sitharaman remarked, “Money will be spent to strengthen the country’s infrastructure,” highlighting the government’s focus on long-term economic stability.

Additionally, the government plans to transfer more than 25 lakh crore rupees to the states this year, a move that aims to ensure that state governments have the necessary resources to implement local development projects effectively. This transfer is crucial for maintaining fiscal health across various regions.

As the new Income Tax Act, 2025, takes effect from April 1, 2026, observers will be closely monitoring its implementation and the impact of these amendments on the economy. Details remain unconfirmed regarding the full scope of these changes and their long-term effects on the financial landscape.

The post Nirmala Sitharaman’s Finance Bill 2026 Passes in Lok Sabha appeared first on berightnews.