Author: VernoNews

Mumbai/New Delhi: The recent increase in Securities Transaction Tax (STT) on futures and options (F&O) trading, introduced in the Union Budget 2026 to reduce speculative volumes, is expected to hinder capital market activity in the short term, according to industry experts. Market Reaction to STT Changes The adjustment in STT rates triggered an immediate downturn in equity markets following Finance Minister Nirmala Sitharaman’s budget presentation. Brokerage firms and exchanges saw their shares decline sharply. The 30-share BSE Sensex, after dipping to intraday lows, closed 764.29 points or 0.93 percent lower at 81,505.49 around 2:42 p.m. Sitharaman highlighted the changes as…

Tiruchi Residents Demand Fixes for Traffic, Roads, and Public ServicesLocal residents in Tiruchi have raised several pressing concerns regarding infrastructure, traffic management, and public facilities. These issues highlight the need for urgent action from authorities to improve daily life in the city.Urgent Call for Road Overbridge at Maruthi NagarSaravannan Natesan from Puthanampatti emphasizes the need to speed up the construction of a proposed road overbridge at the Maruthi Nagar intersection near No.1 Tollgate on the Chennai-Tiruchi-Madurai National Highway. As the main entry point to Tiruchi, the area handles heavy traffic volumes. Despite an automatic signal system, vehicles often form long…

Maharashtra Chief Minister Opts Out of Election DriveMaharashtra Chief Minister Devendra Fadnavis has chosen to forgo campaigning in the upcoming rural local body elections following the tragic death of Deputy Chief Minister Ajit Pawar. The decision came into effect on Saturday, just three days after Pawar’s fatal plane crash in Baramati.Fadnavis has directed local leaders and party officials to handle the election efforts instead. He will not participate in any campaign activities for the polls set for February 7.Election Schedule AdjustmentsThe elections cover 12 Zilla Parishads and 125 Panchayat Samitis. Originally planned earlier, the date shifted due to a three-day…

In a bold step to limit speculative trading in derivatives, Finance Minister Nirmala Sitharaman proposes a significant increase in the Securities Transaction Tax (STT) on futures and options (F&O) trades as part of the Union Budget 2026-27. This initiative focuses on safeguarding retail investors and mitigating systemic risks, sparking varied responses from traders, brokerages, and regulators.Key Changes to STT RatesDuring her ninth consecutive budget presentation, Sitharaman outlines the adjustments to STT rates. The tax on futures contracts rises to 0.05 percent from 0.02 percent. For options, the premium tax increases to 0.15 percent from 0.1 percent, while the tax on…

A major incident unfolded at Southampton General Hospital in the UK when a fire erupted early Sunday morning, prompting the evacuation of patients and the closure of surrounding roads.Emergency ResponseEmergency services arrived at the hospital around 5:30 a.m. following reports of the blaze. Firefighters and medical teams worked swiftly to ensure the safety of everyone on site, leading to the full evacuation of patients from affected areas.Roads near the facility were temporarily shut down to facilitate access for responders and to manage the situation effectively.Impact on ServicesThe hospital’s Accident and Emergency (A&E) department has implemented restrictions, diverting non-urgent cases and…

The 2026 Union Budget delivers a significant boost to India’s defence sector, allocating ₹7.85 lakh crore for the first time since Operation Sindoor. This increase highlights the government’s commitment to enhancing national security in the face of ongoing challenges from neighboring countries like Pakistan and China.Focus on Readiness and ModernizationDefence ranks as one of the top expenditure categories in the budget, prioritizing operational preparedness, advanced capital upgrades, and growth in local production capabilities. Funds support critical projects, including the acquisition of fighter jets, submarines, unmanned aerial vehicles (UAVs), and maintenance, repair, and overhaul (MRO) facilities for aviation assets. These investments…

Union Budget 2026 Highlights Customs Duty ReformsFinance Minister Nirmala Sitharaman presented the Union Budget 2026-27, introducing targeted customs duty reductions to enhance manufacturing, improve healthcare access, and increase affordability across multiple industries. These measures aim to strengthen India’s economic growth amid global challenges.Support for Clean Energy and ManufacturingExemptions on capital goods for producing lithium-ion cells and processing critical minerals remain in place, fostering advancements in renewable energy storage. Sodium antimonate, essential for solar glass manufacturing, receives duty relief to bolster the solar sector. Additionally, biogas blended with compressed natural gas (CNG), inputs for marine products, and sports equipment benefit from…

A masked man wielding what appeared to be a gun stormed into a Subway sandwich shop in Salford, terrifying staff during a brief robbery. The incident unfolded at the Ellesmere Retail Park in Walkden on Saturday evening, prompting a swift police response.Details of the RobberyGreater Manchester Police (GMP) reports indicate the suspect arrived in a small black vehicle between 8:25 p.m. and 8:35 p.m. He entered the premises, brandished the weapon, and demanded cash before fleeing with a small amount. No injuries were reported, but the event has heightened local concerns.Investigators describe the attack as extremely rare for the area…

MANILA, Philippines — Bicol Saro Party-list Representative Terry Ridon stated on Sunday that the resolution of impeachment complaints against President Ferdinand Marcos Jr. will depend on solid evidence and the personal conscience of House representatives, as the lower chamber gears up for formal proceedings. Ridon, who leads the House committee on public accounts, emphasized this point during recent discussions on the matter. He highlighted that lawmakers must carefully evaluate the presented facts to determine the validity of the complaints. Key Factors in Impeachment Process The impeachment process in the House involves reviewing complaints filed against high-ranking officials, including the president.…

Overview of Union Budget 2026-27The Union Budget 2026-27 emphasizes growth alongside fiscal discipline, prioritizing manufacturing, services, MSMEs, infrastructure, and welfare initiatives. Finance Minister Nirmala Sitharaman presented this budget on Sunday, outlining an economic strategy based on action, reform, and people-centric policies. Aligned with the Viksit Bharat vision, it promotes balanced ambition and inclusion while maintaining macroeconomic stability through controlled inflation, steady growth, and prudent finances. Officials target a 7% growth rate, supported by lower import dependencies, structural reforms, fiscal responsibility, monetary stability, and robust public investments. Policies place citizens at the core, leveraging domestic manufacturing, energy security, and infrastructure as…