Current Affairs

India–US trade agreement: US cuts reciprocal tariff on Made-in-India goods from 25% to 18% with immediate effect and withdraws an additional 25% duty (earlier up to 50%, including duty linked to Russian oil imports). India will scale up imports of US goods (over $500 billion: energy, technology, nuclear equipment) and progressively reduce tariffs/non-tariff barriers. Bilateral trade: $132.2 billion (FY25) vs $119.71 billion (FY24). US cumulative FDI inflows (2000–2025): $70.65 billion; India exports pharma/engineering/electronics/gems; US exports crude/LNG/aircraft/defence.

Guatemala’s Volcán de Fuego, a persistently active basaltic stratovolcano, recently produced an explosive eruption. Part of the Central American Volcanic Arc (Guatemala to Panama) and the Pacific “Ring of Fire”, it is one of three large stratovolcanoes overlooking former capital Antigua, between Acatenango and Agua, rising to 3,763 m. It has erupted over 60 times since 1524; hazards include ashfall, pyroclastic and lava flows, and lahars. In 2018, a deadly eruption killed 194 and left 234 missing.

Union Budget rationalises Advance Pricing Agreement (APA) and safe harbour rules for a more investor-friendly tax regime. IT services are consolidated into one “Information Technology Services” category with a uniform safe harbour margin. Safe harbour eligibility threshold is raised from ₹300 crore to ₹2,000 crore, with automated, rule-based approvals. APA completion is mandated within 2 years (extendable by 6 months), providing transfer-pricing certainty and reducing disputes.

Economic Survey 2025-26 cites the Power Gap Index, a secondary analysis derived from the Asia Power Index, produced annually by the Australia-based Lowy Institute. The Asia Power Index measures resources and influence to rank relative power of states in Asia, covering 27 countries and territories, using 131 indicators across 8 thematic measures (military, economic, diplomatic/cultural influence, resilience and future resources). India’s 2025 power gap score is -4.0, indicating operation below full strategic potential.

The 3rd tri-services Future Warfare Course is being held in New Delhi from February 2–25, 2026, under HQ Integrated Defence Staff, with Centre for Joint Warfare Studies (CENJOWS) as partner. A three-week programme, it includes Army, Navy and Air Force officers (Majors to Major Generals/equivalents) and defence industry participants. Themes cover future warfighting, geopolitics, indigenous capabilities, cyber, space, AI systems, supply-chain vulnerabilities and rare-earth dependencies; training includes demonstrations, expert lectures and visits. First edition was in September 2024; it aligns with Anil Chauhan’s vision for multi-domain conflicts.

Central Government notified Baggage Rules, 2026 (under Customs Act, 1962) amending Baggage Rules, 2016, along with Customs Baggage (Declaration and Processing) Regulations, 2026. It enables simplified/electronic and advance filing, faster clearance, and uniform implementation via a Master Circular. GFA enhanced for eligible categories; no general duty-free allowance for land-border arrivals. Transfer of residence caps: ₹1.5 lakh (≤12 months), ₹3 lakh (1–2 years), ₹7.5 lakh (>2 years). Duty-free jewellery: female 40 g; others 20 g. Provides temporary import/re-export certificates, one duty-free laptop for >18 years, and duty-free import of pets.

Bihar government approved pilot installation of Grain ATMs (Annapurti) in Patna under the Public Distribution System to improve transparency, efficiency and time-bound distribution. A central initiative developed by the World Food Programme with Food Corporation of India and states, it is maintained jointly by Centre and states; Bihar nodal department is Food and Consumer Protection. Aadhaar-linked card-based, internet-enabled machines dispense up to 50 kg in minutes, operate 24/7, can use solar power, cut waiting time ~70%, currently urban with planned panchayat expansion; piloted in at least six states including Odisha.

India will publicly exhibit the Holy Devnimori Relics of Lord Buddha in Sri Lanka under the Ministry of Culture to strengthen India–Sri Lanka cultural ties and shared Buddhist heritage. Originating from an archaeological site in Gujarat’s Aravalli district excavated in 1957, the relics include a Brahmi-Sanskrit inscribed green schist casket, copper box with ashes, and a gold-coated sacred bottle. Enshrined at Maharaja Sayajirao University, Vadodara, they will be displayed at Gangaramaya Temple, Colombo, in February 2026, travel with state honours on a special IAF aircraft, and were earlier exhibited in Thailand, Mongolia, Vietnam, Russia and Bhutan.

Union Finance Minister Nirmala Sitharaman proposed dedicated rare earth corridors in coastal Odisha, Kerala, Andhra Pradesh and Tamil Nadu to promote mining, processing, R&D and manufacturing from beach sand deposits (BSM; principal RE ore) with monazite (phosphate mineral with Uranium and Thorium) yielding neodymium/praseodymium. Plan supports 6,000 MTPA integrated REPM capacity via 5 competitively bid beneficiaries (up to 1,200 MTPA each), with Rs 6,450 crore sales-linked incentives over 5 years plus Rs 750 crore capital subsidy; builds on National Critical Minerals Mission and Magnet Manufacturing Scheme. REPMs aid EVs, renewables, electronics, aerospace, defence; India imported >53,000 MT magnets in FY ending March 2025; consumption may double by 2030.

Union Budget proposed Biopharma SHAKTI (Strategy for Healthcare Advancement through Knowledge, Technology and Innovation) with Rs 10,000 crore outlay for 5 years to make India a global biopharma hub by enabling domestic biologics and biosimilar production (living-organism-derived complex medicines for cancers, autoimmune and genetic disorders). Support: 3 new NIPERs, upgrade 7 institutes, 1,000+ accredited clinical-trial sites, and strengthened CDSCO via scientific review cadre. NCDs cause 63% deaths; FY25 pharma turnover Rs 4.72 lakh crore, exports CAGR 7% (FY15–FY25); medical devices exported to 187 countries (MRI/CT, stents, ventilators).

The 16th Finance Commission, constituted in 2023 under Chair Dr Arvind Panagariya (former NITI Aayog Vice-Chairman), is a constitutional body under Article 280, appointed by the President every 5 years (chairman + 4 members). Under Article 281, its report and Action Taken Memorandum are laid before Parliament. For 2026-27 to 2030-31: states’ vertical devolution stays 41%; divisible pool excludes collection cost, cesses and surcharges; horizontal sharing changes include GDP contribution, benefiting southern states; states’ fiscal deficit cap 3% of GSDP, excluding SASCI loans.

Prime Minister visited Dera Sachkhand Ballan during Guru Ravidass’s 649th birth anniversary, sought blessings of Sant Niranjan Dass and congratulated him on Padma Shri. Niranjan Dass, Gaddi Nashin of the Ravidassia institution in Jalandhar, Punjab, was born 6 January 1942 at Ramdass Pur; joined Swami Sarwan Dass at 8 and assumed gaddi on 25 July 1994. In 2010, he declared the Ravidassia religion and introduced Amritbani Satguru Ravidass Maharaj Ji; he survived a Vienna attack in which Sant Ramanand Ji died, and oversaw a model school and charitable eye hospital.

In Russia–Ukraine peace negotiations, control over the remaining Ukrainian-held areas of Donetsk is a key unresolved issue. Donetsk lies in eastern Ukraine and is one of the two core regions of Donbas, alongside Luhansk. It borders the Sea of Azov to the south and Russia to the east. Sea of Azov links to the Black Sea via the Kerch Strait. Resources include coal, shale gas (Yuzivska gas field) and salt reserves.

Saudi Arabia’s Al-Jawf region reported snowfall in its interior deserts for the first time. Al-Jawf is one of the country’s 13 administrative regions, located in northern Saudi Arabia at the northern edge of the Al-Nafūd desert. Historically, it lay on an ancient trade and pilgrimage route linking the Arabian Peninsula with the Levant and Egypt. Dawmat al-Jandal Lake, Saudi Arabia’s largest, lies north of the region.

Doctors have demonstrated a treatment breakthrough for Celphos (aluminium phosphide) poisoning using intravenous lipid emulsion therapy. Celphos is aluminium phosphide, used as a grain fumigant. On ingestion, it releases deadly phosphine gas. Fumigants are highly toxic volatile compounds applied in gaseous form to kill pests (insects, nematodes, rodents) in enclosed spaces, soil or stored products. The poisoning remains a major public-health challenge, especially in Punjab, Haryana and Uttar Pradesh.

India and the UAE co-chaired the 2nd India–Arab Foreign Ministers’ Meeting in New Delhi on January 31, 2026, after a 10-year gap. It is a high-level dialogue mechanism with the League of Arab States for political dialogue, strategic coordination and multi-sector cooperation. Participants included Arab League Foreign Ministers and its Secretary General; ministers from Somalia, Palestine, Comoros and Sudan attended. The first meeting was in Bahrain (2016), identifying economy, energy, education, media and culture; current agenda covers trade, investment, supply chains, oil-gas-renewables-green hydrogen, people-to-people ties and countering misinformation.

India and the World Bank signed a New Country Partnership Framework (NCPF) for 2026–2031 with a provision of $8–10 billion. It prioritises private sector-led job creation via skill development, easing SME constraints, and expanding opportunities for youth and women. Four outcomes: rural prosperity/resilience (diversifying incomes beyond agriculture), urban transformation (urban population projected to double to 800 million by 2050), investing in people (health, education, skills), and energy/infrastructure/climate resilience (renewables, e-mobility, green hydrogen).

A recent study indicates that even subtle solar Coronal Mass Ejections (CMEs) can trigger intense geomagnetic storms, showing smaller CMEs may cause major disturbances in Earth’s magnetosphere. A CME is a large expulsion of plasma and magnetic fields from the Sun’s corona. CMEs travel at high speeds, often linked to solar flares and active sunspot regions, and can disrupt satellites, power grids, navigation systems and radio communications.

A court directed pan-India implementation of the Union’s “Menstrual Hygiene (MH) Policy for School-going Girls” for adolescent girls in Classes 6–12. It linked menstrual health to Articles 21 (life), 14 (equality), and 21A and the RTE Act (education), emphasising dignity. Schools must ensure sensitisation of male staff/students, gender-segregated toilets, free napkins (vending machines), and MHM corners; related support includes Swachh Bharat guidelines, Janaushadhi “Suvidha” at Rs. 1/pad, Beti Bachao Beti Padhao, and Samagra Shiksha vending/incinerators.

Central Electricity Authority (CEA) report highlights Hydro Pumped-Storage Projects (PSPs) for India’s clean energy transition, grid stability and long-duration energy storage. PSPs are hydroelectric storage systems using two reservoirs at different elevations: surplus renewable power pumps water upward; during peak demand, water is released through turbines, acting like a large-scale battery. India has ~7 GW installed capacity and ~267 GW potential (58 GW on-stream, 209 GW off-stream); types include open-loop and closed-loop.

Union Budget 2026–27, presented by Finance Minister Nirmala Sitharaman, sets growth/spending, tax and non-tax revenues, and borrowing to bridge the fiscal deficit (income–expenditure gap). Budget changes are constrained by continuity in salaries, pensions, subsidies and tax rates; exports face US-tariff stress. First Advance Estimates peg nominal GDP growth at 8% (10.1% assumed last year). Tax buoyancy assumed 1.1 but near 0.6; collections lag targets. “Minimum Government” measures since 2019 include corporate tax cuts, higher public capex, PLI, income-tax exemptions and GST cuts, yet private corporate investment remains below 2019; foreign investors reduced exposure, pressuring the rupee.

Exercise Agni Pariksha, a first-of-its-kind joint training initiative, was conducted by the Indian Army and Indo-Tibetan Border Police in Arunachal Pradesh to enhance inter-force combat synergy and operational integration. It involved Spear Corps spearhead gunners, an artillery regiment, infantry battalions and ITBP personnel. Collaborative firepower training was validated through live artillery firing, familiarising non-artillery personnel with artillery procedures, coordination and firing missions via supervised drills.

Elena Rybakina won the Australian Open 2026 women’s singles title at Rod Laver Arena, Melbourne, defeating World No. 1 Aryna Sabalenka in the final 6-4, 4-6, 6-4 in a three-set match. Rybakina recovered from 0-3 down in the third set. It was her first Australian Open title and second Grand Slam after Wimbledon 2022; Sabalenka suffered a second consecutive Australian Open final loss.

The World Nuclear Association’s World Nuclear Outlook Report projects global nuclear power capacity at 1,446 gigawatt electric (GWe) by 2050, exceeding the 1,200 GWe target under the Declaration to Triple Nuclear Energy launched at COP28 (Dubai, 2023). It estimates China, France, India, Russia and the United States could contribute 980 GWe, urging integration into long-term decarbonisation and energy-security planning and electricity-market reforms.

Coking coal has been added to Part D of the First Schedule of the MMDR Act, 1957 (Critical and Strategic Minerals), citing mineral security and steel needs; ~95% of steel-sector demand is import-dependent. It enables faster approvals and accelerated exploration/mining of deep-seated deposits. Reserves are ~37.37 billion tonnes, mainly in Jharkhand, and in Madhya Pradesh, West Bengal and Chhattisgarh. MMDR also provides DMF, NMET; 2023 amendments enable Central auctioning and exploration licences.