Try GOLD - Free
Cut to boost defence aircraft ecosystem
Financial Express Kochi
|February 03, 2026
WITH AN AIM to strengthen India’s self-reliance in defence aviation, Finance Minister Nirmala Sitharaman has announced a full exemption from basic customs duty on raw materials and components used for maintenance, repair, and overhaul (MRO) of aircraft by defence sector units.
-
“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 overhaul requirements by Units in the Defence sector,” Sitharaman said in her Budget speech for FY27.
This story is from the February 03, 2026 edition of Financial Express Kochi.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Financial Express Kochi
Financial Express Kochi
New interest proposal to affect fixed income and hybrid plans
THE BUDGET PROPOSAL to remove interest deduction against dividend and mutual fund (MF) income came as a surprise as the industry was expecting some simplification underthe new IncomeTax Act, 2025.
1 mins
February 03, 2026
Financial Express Kochi
Israel reopens Gaza’s Rafah border crossing to Egypt
ISRAEL REOPENED THE border between Gaza and Egypt on Monday for people on foot, a move that would allow Palestinians to leave the enclave and let back in those who want to return after fleeing Israel’s war in the enclave.
2 mins
February 03, 2026
Financial Express Kochi
Seven new projects, freight corridor soon, says Vaishnaw
THE RAILWAY MINISTRY will shortly commission the detailed project reports (DPRs) for the seven bullet trains and one dedicated freight corridor (DFC) announced in the Budget 2026-27, Railway Minister Ashwini Vaishnaw said on Monday.
1 mins
February 03, 2026
Financial Express Kochi
Snowflake ties up with OpenAl in $200-mn deal
SNOWFLAKE SAID ON Monday it has entered a $200 million partnership with OpenAI to integrate advanced artificial intelligence models directly into its cloud data platform, as enterprises increasingly turn to AI to extract insights from vast troves of data.
1 min
February 03, 2026
Financial Express Kochi
Cut to boost defence aircraft ecosystem
WITH AN AIM to strengthen India’s self-reliance in defence aviation, Finance Minister Nirmala Sitharaman has announced a full exemption from basic customs duty on raw materials and components used for maintenance, repair, and overhaul (MRO) of aircraft by defence sector units.
1 min
February 03, 2026
Financial Express Kochi
Rupee posts biggest single-day advance in six weeks
THE RUPEE POSTED its strongest single-day gain in six weeks on Monday, climbing 47 paise to 91.51 against the dollar.
1 mins
February 03, 2026
Financial Express Kochi
Tax law on buyback comes full circle
In the current global uncertainty, investors, especially foreign ones, look for tax certainty and policy continuity. Buyback taxation qualifies for the same
3 mins
February 03, 2026
Financial Express Kochi
FM: Public float in govt...
FROM THE FRONT PAGE
2 mins
February 03, 2026
Financial Express Kochi
Food subsidy may cross FY27 BE by ₹25K cr
New Delhi, February 2
2 mins
February 03, 2026
Financial Express Kochi
Trump launches $12-bn minerals stockpile
MOVE TO BOOST US MANUFACTURING
1 mins
February 03, 2026
Listen
Translate
Change font size