Indian Current Affairs News Digest
Date: February 02, 2026
Compiled from 15+ leading Indian news sources
Your daily exam-focused news digest covering critical developments across governance, economy, international relations, science, and sports. Every article verified from original newspaper sources.
Today’s Top 10 Recall Points (Snapshot)
- Union Budget 2026: Finance Minister Nirmala Sitharaman presented the budget with a fiscal deficit target of 4.3% for FY27.
- New Tax Law: The Income Tax Act, 2025 will officially come into effect from April 1, 2026.
- Ramsar Milestone: India added Patna Bird Sanctuary (UP) and Chhari-Dhand (Gujarat) to its Ramsar list, totaling 98 sites.
- Space Funding: ISRO’s Department of Space received ₹13,705.63 crore, a modest 2% hike for FY27.
- Presidential Visit: President Droupadi Murmu began a 6-day visit to Odisha and Chhattisgarh (Feb 2–7).
- Career Grand Slam: Carlos Alcaraz became the youngest player to complete a career Grand Slam at the Australian Open 2026.
- Railway Outlay: A record ₹2.77 trillion was allocated for Indian Railways in the Union Budget.
- Health Infrastructure: Government announced “NIMHANS-2” in North India and Regional Apex Institutes in Ranchi and Tezpur.
- STT Hike: Securities Transaction Tax on futures and options raised to 0.05% (from 0.02%).
- Geological Event: A 4.6-magnitude earthquake hit the Pattan area in Baramulla, Jammu & Kashmir.
1. STATE AFFAIRS
Kerala Announces 25% Syllabus Reduction for Class 10 Students
Summary: Kerala’s Education Department has decided to cut 25% of the Class 10 academic workload.
On February 2, 2026, the Kerala State Government officially announced a 25% reduction in the syllabus for Class 10 students for the current academic session. The decision followed persistent complaints from students and teachers regarding an “excessive academic workload” that hindered holistic development and increased mental stress. State Education Minister V. Sivankutty noted that the rationalization aims to align with the National Education Policy’s focus on competency-based learning rather than rote memorization. This move follows similar “syllabus rationalization” trends observed in central boards. For competitive exams, this highlights the evolving education reforms at the state level and the implementation of student-centric policies under the Kerala Education Act. The reduction specifically targets non-core chapters in social sciences and languages.
Source: The Indian Express
URL: https://indianexpress.com/article/education/today-news-headlines-for-school-assembly-2-february-2026-india-union-budget-2026-focus-infrastructure-security-reforms-alcaraz-makes-tennis-history-kerala-cuts-25-syllabus-10507627/
President Murmu Commences High-Profile 6-Day Visit to Odisha and Chhattisgarh
Summary: President Droupadi Murmu reached Bhubaneswar on February 2 to begin a multi-state developmental tour.
President of India, Smt Droupadi Murmu, arrived in Bhubaneswar on the evening of February 2, 2026, marking the start of a six-day official visit to Odisha and Chhattisgarh (February 2–7). According to the Press Information Bureau, the visit includes several high-impact events: the convocation of Fakir Mohan University at Balasore (Feb 3), the unveiling of Bhanjabir Sunaram Soren’s statue at Rairangpur (Feb 4), and an interaction with tribal communities at Simlipal (Feb 6). The tour culminates on February 7 with the inauguration of the ‘Bastar Pandum 2026’ festival in Jagdalpur, Chhattisgarh. This visit is significant for exams as it covers tribal welfare initiatives, cultural promotion, and higher education milestones in the Purvodaya (Eastern India) region. It also underscores the executive’s focus on North-Eastern and tribal connectivity.
Source: Press Information Bureau
URL: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2221787
West Bengal and Assam to Benefit from New ‘Purvodaya’ Industrial Corridors
Summary: The Union Budget 2026 announced the Durgapur node of the East Coast Industrial Corridor.
During the presentation of the Union Budget on February 1 and its subsequent notification on February 2, 2026, the Centre detailed the “Purvodaya” initiative focusing on the Eastern states. Finance Minister Nirmala Sitharaman announced the development of an integrated East Coast Industrial Corridor with a specialized, well-connected node at Durgapur, West Bengal. Additionally, five tourism destinations will be developed across five Purvodaya states, and 4,000 e-buses will be deployed to improve regional connectivity. For aspirants, this news is crucial regarding the “Act East” policy and regional economic development frameworks. The move aims to bridge the developmental gap between Western and Eastern India by leveraging industrial nodes and sustainable transport. It also includes the development of “Buddhist Circuits” across six North-Eastern states to boost religious tourism and local employment.
Source: India Shipping News
URL: https://indiashippingnews.com/highlights-of-union-budget-2026-27/
2. NATIONAL AFFAIRS
New Income Tax Act, 2025 to Replace Century-Old Laws from April 2026
Summary: The Centre has confirmed the implementation of a simplified Income Tax Act starting next fiscal year.
On February 2, 2026, the Ministry of Finance clarified that the “New Income Tax Act, 2025” will officially come into effect from April 1, 2026. Tabled by Finance Minister Nirmala Sitharaman, the act aims to replace the Income Tax Act of 1961 with a “trust-based, tech-driven” compliance regime. Key features include redesigned, simpler forms and a significant reduction in the complexity of tax litigation. The Budget 2026 also extended the timeline for revising returns to March 31. This is a landmark structural reform for Indian governance and a high-yield topic for UPSC and Banking exams under “Fiscal Policy.” The reform aims to improve the “Ease of Living” for ordinary citizens and reduce the compliance burden on MSMEs by simplifying the tax code into a more modern, readable document.
Source: News On AIR
URL: https://www.newsonair.gov.in/budget-2026-27-govt-gives-strong-push-to-manufacturing-infrastructure-job-creation-says-fm-sitharaman/
Centre Amends IPS Empanelment Rules to Tackle Security Leadership Crisis
Summary: New guidelines ease the empanelment of IG-level officers for central postings.
To address the severe shortage of senior officers in Central Armed Police Forces (CAPFs) and other security agencies, the Union Government amended the IPS empanelment guidelines on February 2, 2026. The move eases the process for Inspector General (IG) level postings, specifically targeting the lack of officers at the SP and DIG ranks. This administrative reform is designed to ensure that critical national security roles are not left vacant due to bureaucratic hurdles between state cadres and central deputation. For competitive exams, this falls under “Internal Security” and “Governance.” It reflects the government’s intent to strengthen the command structure of forces like the CRPF and BSF. The change allows for a faster transition of experienced officers from states to the center to manage border security and internal law and order more effectively.
Source: The Indian Express
URL: https://indianexpress.com/article/education/today-news-headlines-for-school-assembly-2-february-2026-india-union-budget-2026-focus-infrastructure-security-reforms-alcaraz-makes-tennis-history-kerala-cuts-25-syllabus-10507627/
Indian Railways Receives Record ₹2.77 Trillion Capital Outlay in Budget 2026
Summary: The Union Budget 2026-27 has allocated the highest-ever capex to the railway sector.
In the Union Budget details released on February 2, 2026, the Indian Railways was granted a record capital expenditure (capex) of ₹2.77 trillion. The funding is earmarked for the completion of Dedicated Freight Corridors (DFCs), the expansion of the “Kavach” anti-collision system, and the modernization of 1,300+ stations under the Amrit Bharat Station Scheme. Finance Minister Nirmala Sitharaman emphasized that the outlay would also support the development of three major economic railway corridors: energy, mineral, and cement corridors. This is a vital point for exams under “Infrastructure and Economy.” The massive investment aims to reduce logistics costs in India from 14% to under 9% of GDP. Major railway stocks like IRFC and RVNL reacted sharply to this announcement as the market reopened on Monday morning.
Source: Business Standard
URL: https://www.business-standard.com/markets/news/stocks-to-watch-today-feb-2-hyundai-motor-india-bse-itc-hdfc-bank-moil-rec-126020200086_1.html
3. INTERNATIONAL AFFAIRS
US Reopens Mission in Venezuela After Seven-Year Diplomatic Freeze
Summary: The arrival of a US Ambassador in Caracas marks a potential reset in Western Hemisphere relations.
In a major global diplomatic shift reported on February 2, 2026, the United States has officially reopened its mission in Venezuela after a seven-year hiatus. The arrival of the new US Ambassador in Caracas signals a potential de-escalation of tensions and a move toward stabilizing oil markets and regional migration. For Indian aspirants, this development is significant under “International Relations” as it impacts global energy security and India’s potential crude oil imports from Venezuela. The reopening follows months of back-channel negotiations and a shifting geopolitical landscape where the US seeks to counter Russian and Chinese influence in Latin America. This “reset” could lead to the gradual lifting of sanctions, which would directly benefit Indian refineries that were previously major buyers of Venezuelan heavy crude.
Source: The Indian Express
URL: https://indianexpress.com/article/education/today-news-headlines-for-school-assembly-2-february-2026-india-union-budget-2026-focus-infrastructure-security-reforms-alcaraz-makes-tennis-history-kerala-cuts-25-syllabus-10507627/
India Expands Global Wetland Footprint with Two New Ramsar Sites
Summary: Patna Bird Sanctuary and Chhari-Dhand designated as Wetlands of International Importance.
On February 2, 2026, celebrating World Wetlands Day, India formally recognized two new additions to its Ramsar network: Patna Bird Sanctuary in Uttar Pradesh and Chhari-Dhand in Gujarat. Union Environment Minister Bhupender Yadav announced that with these additions, India’s total Ramsar sites have reached 98, representing a 276% increase since 2014. Chhari-Dhand is a seasonal wetland in the Kutch district, critical for migratory birds and desert wildlife like caracals. Patna Bird Sanctuary, located in the Etah district of UP, is a vital habitat for resident avifauna. This is a critical topic for “Environment and Ecology” in exams. The Ramsar Convention, signed in 1971 in Iran, aims to conserve wetlands of international importance. India became a signatory on February 1, 1982. These designations provide international protection and funding for conservation efforts.
Source: GK Today
URL: https://www.gktoday.in/india-adds-two-new-ramsar-wetlands-ahead-of-world-wetlands-day/
Regional Tensions Rise as Iran Warns Against US Military Deployments
Summary: Ayatollah Ali Khamenei issued a stern warning following intensified US presence in the Middle East.
On February 2, 2026, Iran’s Supreme Leader Ayatollah Ali Khamenei warned that any US strike would lead to a “regional war,” responding to intensified US military deployments near Iranian borders. The escalation has caused concern in global markets, particularly regarding the stability of the Strait of Hormuz, a critical maritime passage for India’s energy imports. For UPSC aspirants, this highlights the “Middle East Crisis” and its impact on India’s “Connect West” policy and energy security. The tension comes amid stalled nuclear negotiations and increased drone warfare in the region. India, which maintains a delicate balance between Tehran and Washington, faces the challenge of protecting its diaspora and trade routes in the Persian Gulf if hostilities break out further.
Source: The Hindu
URL: https://www.thehindu.com/news/national/jammu-kashmir-earthquake-february-2-2026/article70581401.ece
4. ECONOMY & FINANCE
Fiscal Deficit Projected at 4.3% for FY 2026-27; Capex Hiked to ₹12.2 Lakh Crore
Summary: Finance Minister Nirmala Sitharaman emphasizes fiscal consolidation and infrastructure growth.
On February 2, 2026, the final details of the Union Budget 2026-27 revealed that the fiscal deficit is projected to drop to 4.3% of GDP, down from the 4.4% projected for the current year (FY26). Finance Minister Nirmala Sitharaman announced a public capital expenditure hike to ₹12.2 lakh crore for the upcoming fiscal year. This 11.1% increase in capex is designed to sustain India’s economic momentum as it eyes a $5 trillion economy status. For banking and PSC exams, the “Fiscal Deficit” and “Capex Outlay” are the most critical data points. The government also estimated non-debt receipts at ₹36.5 lakh crore and total expenditure at ₹53.5 lakh crore. This fiscal roadmap signals a commitment to “sound math” while prioritizing manufacturing and job creation.
Source: Upstox News
URL: https://upstox.com/news/business-news/economy/budget-2026-live-updates-nirmala-sitharaman-speech-key-announcements-highlights/liveblog-188647/
STT on Futures and Options Hiked to 0.05% in Union Budget 2026
Summary: Increased Securities Transaction Tax (STT) aims to curb excessive speculative trading in derivatives.
The Union Budget 2026, effective from February 1 and analyzed by markets on February 2, 2026, proposed an increase in the Securities Transaction Tax (STT) on Futures & Options (F&O) from 0.02% to 0.05%. This move is intended to discourage “excessive speculation” by retail investors in the high-risk derivatives segment. Following the announcement, capital market-related stocks like BSE, NSDL, and Angel One came under intense scrutiny as the Sensex plunged over 1,500 points during the morning trade on Monday. For economy-related exams, this is a key “Market Regulation” update. The government aims to channelize household savings toward long-term equity investments rather than short-term speculative trading. This change is expected to generate significant additional revenue for the exchequer while potentially cooling down the overheating derivatives market.
Source: Business Standard
URL: https://www.business-standard.com/markets/news/stocks-to-watch-today-feb-2-hyundai-motor-india-bse-itc-hdfc-bank-moil-rec-126020200086_1.html
Government Targets ₹3.16 Lakh Crore Dividend from RBI and PSU Banks
Summary: Non-tax revenue estimates for FY27 show a 3.75% increase in expected dividends.
According to the Budget documents released on February 2, 2026, the Central Government expects to receive ₹3.16 lakh crore in dividends and surpluses from the Reserve Bank of India (RBI), nationalized banks, and other financial institutions for the 2026-27 fiscal year. This is a 3.75% increase over the Revised Estimate of ₹3.05 lakh crore for the current fiscal. Total non-tax revenue is pegged at ₹6.66 lakh crore. This information is vital for aspirants studying “Public Finance” and the “RBI-Government Relationship.” The high dividend payout from the RBI is typically a result of its foreign exchange operations and interest income on government securities. These funds are crucial for the government to meet its fiscal deficit targets without cutting back on welfare spending.
Source: NDTV Profit
URL: https://www.ndtvprofit.com/economy/government-expects-rs-3-16-lakh-crore-in-rbi-bank-dividends-for-2026-27-109270
5. SPORTS
Carlos Alcaraz Scripts History with Career Grand Slam at Australian Open 2026
Summary: The Spanish star became the youngest player to win all four major tennis titles.
On February 1, 2026, with world headlines dominating on February 2, Carlos Alcaraz defeated Novak Djokovic in an epic Australian Open final to complete his Career Grand Slam. At just 22 years old, Alcaraz became the youngest male player in the Open Era to achieve this feat, winning the Australian Open, French Open, Wimbledon, and US Open. This victory signals a definitive generational shift in men’s tennis, as Djokovic’s long-standing dominance faced its toughest challenge. For sports section in exams, this is a “landmark record.” Alcaraz’s achievement places him alongside legends like Andre Agassi, Roger Federer, and Rafael Nadal. The match lasted over five hours, showcasing the immense physical and mental resilience required at the elite level.
Source: The Indian Express
URL: https://indianexpress.com/article/education/today-news-headlines-for-school-assembly-2-february-2026-india-union-budget-2026-focus-infrastructure-security-reforms-alcaraz-makes-tennis-history-kerala-cuts-25-syllabus-10507627/
ICC T20 World Cup 2026 Warm-Up Matches Begin in India and Sri Lanka
Summary: India begins its final preparations for the biennial tournament with warm-up fixtures.
The warm-up schedule for the ICC Men’s T20 World Cup 2026 officially commenced on February 2, 2026. These matches, running until February 6, serve as the final practice ground for the 20 participating nations before the main tournament kicks off on February 7. India is co-hosting the event with Sri Lanka, making it a significant sporting event for the subcontinent. Key Indian players, including captain Hardik Pandya and star batter Yashasvi Jaiswal, are under the spotlight as India aims to reclaim the title on home soil. For aspirants, this news is relevant under “Major Sporting Events.” The tournament features a revised format with four groups of five teams, leading to a Super 8 stage. The final is scheduled to take place at the Narendra Modi Stadium in Ahmedabad.
Source: Outlook India
URL: https://www.outlookindia.com/sports/cricket/icc-t20-world-cup-2026-warm-up-matches-guide-preview-live-streaming
Delhi Capitals Edge Past UP Warriorz in WPL 2026 Eliminator Thriller
Summary: Jemimah Rodrigues’ calm finish steers Delhi into the Women’s Premier League finals.
On February 2, 2026, the Women’s Premier League (WPL) saw a high-stakes Eliminator match where the Delhi Capitals defeated the UP Warriorz to secure a spot in the 2026 finals. In a low-scoring but tense encounter, the Delhi bowlers restricted the Warriorz, followed by a composed batting performance from Jemimah Rodrigues, who anchored the chase. The WPL has become a cornerstone of women’s sports in India, significantly increasing the visibility and commercial value of women’s cricket. For exams, this reflects the growth of “Women Empowerment in Sports.” The 2026 edition has seen record-breaking viewership and attendance, further establishing the league as the premier domestic women’s T20 competition globally. The final will be played later this week against the table-toppers, Mumbai Indians.
Source: The Indian Express
URL: https://indianexpress.com/archive/2026/02/02/page/5/
6. SCIENCE, TECHNOLOGY & ENVIRONMENT
ISRO Allocated ₹13,705 Crore for FY27; Focus on Gaganyaan and Lunar Missions
Summary: The Department of Space sees a 2% hike as it prepares for high-complexity missions.
In the Union Budget details released on February 2, 2026, the Department of Space (ISRO) was allocated ₹13,705.63 crore for the financial year 2026-27. This represents a modest 2.1% increase over the previous year’s budget estimate. While the hike is incremental, a large portion is dedicated to the Gaganyaan (human spaceflight) program and the upcoming Chandrayaan-4 lunar sample return mission. To boost the private space ecosystem, the budget also announced incentives for the Indian Space Association (ISpA). For competitive exams, this is a key “Science and Technology” update. The modest hike has sparked discussions among experts about the financial requirements for India’s ambitious “Bhartiya Antriksh Station” (Space Station) project. Additionally, the budget allocated funds for four major telescopes, including the National Large Solar Telescope (NLST), to advance astronomy research.
Source: India Today
URL: https://www.indiatoday.in/science/story/budget-2026-space-gets-modest-hike-of-2-as-isro-eyes-big-ticket-launches-2861241-2026-02-01
ISRO Launches IMEx-2026: A Window for Microgravity Research in Orbit
Summary: The Indian Microgravity Experiments programme invites proposals for the Gaganyaan mission.
On February 2, 2026, ISRO’s Human Space Flight Centre (HSFC) finalized the Announcement of Opportunity for the Indian Microgravity Experiments (IMEx-2026). The program allows Indian scientists from academia and startups to conduct research in materials science, space biology, and pharmacology aboard the Gaganyaan missions and the proposed Bhartiya Antriksh Station. This initiative marks a shift from ISRO being just a launch provider to becoming a platform for advanced space-based research. For aspirants, this is relevant under “Space Research and Innovation.” The goal is to study how physical and biological processes behave differently in microgravity, which could lead to breakthroughs in medicine and manufacturing. The deadline for submitting scientific proposals for the current cycle is February 28, 2026.
Source: Times of India
URL: https://timesofindia.indiatimes.com/science/isro-invites-indian-researchers-to-take-microgravity-experiments-to-orbit/articleshow/127792112.cms
4.6-Magnitude Earthquake Rattles Baramulla, Jammu & Kashmir
Summary: Tremors felt in Kashmir early Monday morning; no casualties reported.
A 4.6-magnitude earthquake struck Jammu and Kashmir’s Baramulla district at 5:35 AM on Monday, February 2, 2026. According to the National Center for Seismology (NCS), the epicenter was located in the Pattan area. While the tremors caused brief panic among residents in Srinagar and surrounding districts, local authorities reported no immediate loss of life or significant property damage. For Geography and Disaster Management sections of exams, this event highlights the high seismic vulnerability (Zone V) of the Himalayan region. The earthquake serves as a reminder of the need for strict adherence to earthquake-resistant building codes in the Kashmir Valley, which sits on several active fault lines. Seismic activity in this region is common due to the ongoing collision of the Indian and Eurasian tectonic plates.
Source: The Hindu
URL: https://www.thehindu.com/news/national/jammu-kashmir-earthquake-february-2-2026/article70581401.ece
7. OTHERS
Government Announces Padma Awards 2026: Alka Yagnik and Uday Kotak Among Awardees
Summary: The prestigious list for 2026 includes veterans from art, industry, and social work.
On the heels of the Republic Day celebrations, the complete list and profiles of the Padma Awardees 2026 were highlighted in official gazettes on February 2, 2026. Notable recipients include Bollywood singer Alka Yagnik (Art), veteran banker Uday Kotak (Trade and Industry), and former Kerala CM V.S. Achuthanandan (Posthumous – Public Affairs). The awards celebrate the “People’s Padma” spirit, recognizing unsung heroes like Anke Gowda (Social Work – Karnataka) for his work in literature conservation. For competitive exams, the list of Padma Vibhushan and Padma Bhushan awardees is mandatory. This year’s awards show a strong emphasis on Science and Engineering, with Kerala-based scientist A.E. Muthunayagam receiving recognition. The awards will be formally presented by the President at Rashtrapati Bhavan in March/April.
Source: Press Information Bureau
URL: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2218547
NIMHANS-2 and Regional Mental Health Apex Institutes Announced for North India
Summary: The Union Budget 2026-27 prioritizes mental health infrastructure expansion.
On February 2, 2026, the Ministry of Health and Family Welfare detailed plans for “NIMHANS-2,” a second campus of the premier National Institute of Mental Health and Neurosciences, to be established in North India. This was a key healthcare announcement in the Union Budget presented by Finance Minister Nirmala Sitharaman. Furthermore, existing mental health institutes in Ranchi and Tezpur will be upgraded to “Regional Apex Institutions.” This move addresses the severe shortage of specialized mental healthcare facilities in Northern and Eastern India. For aspirants, this is relevant under “Social Sector – Health.” The project aims to decentralize high-end neurological and psychiatric care, making it accessible to a larger population and reducing the burden on the original Bengaluru campus.
Source: India Shipping News
URL: https://indiashippingnews.com/highlights-of-union-budget-2026-27/
World Wetlands Day 2026: Theme Focused on ‘Wetlands and Human Wellbeing’
Summary: February 2 marks the global day for wetland conservation with a focus on sustainable livelihoods.
On February 2, 2026, India joined the global community in celebrating World Wetlands Day. The theme for 2026 is “Wetlands and Human Wellbeing,” emphasizing the inseparable link between healthy ecosystems and the prosperity of local communities. Events were held across 98 Ramsar sites in India, including the newly added Patna Bird Sanctuary and Chhari-Dhand. The Ministry of Environment organized a national-level celebration at the Keoladeo National Park in Rajasthan. For exams, the “Ramsar Convention” and the “Montreux Record” are essential concepts. Wetlands provide vital ecosystem services such as water purification, flood control, and carbon sequestration. India’s “Amrit Dharohar” scheme, launched previously, continues to be the primary vehicle for the sustainable use of these vital blue-carbon ecosystems.
Source: Adda247 Current Affairs
URL: https://currentaffairs.adda247.com/important-days-in-february-2026/
QUICK REVISION TOOLKIT: CORE RECALL POINTS
1. National & State Governance
- Income Tax Act, 2025: New simplified tax law comes into effect from April 1, 2026, replacing the 1961 Act.
- Significance: Landmark fiscal reform; trust-based, tech-driven compliance; critical for Governance and Fiscal Policy.
- IPS Empanelment Rules Amendment: Eased guidelines for IG-level officer postings to central agencies (Feb 2, 2026).
- Significance: Tests knowledge of Internal Security, CAPF structure, and central-state cadre management.
- Kerala Syllabus Reduction: 25% reduction in Class 10 academic workload aligned with NEP competency-based learning.
- Significance: State education reforms, student welfare, implementation of National Education Policy.
- President’s Odisha-Chhattisgarh Visit: 6-day tour (Feb 2–7) covering tribal welfare, higher education, and cultural promotion.
- Significance: Executive functions, Purvodaya regional development, tribal connectivity initiatives.
2. Economy & Finance
- Union Budget Fiscal Deficit: Projected at 4.3% of GDP for FY 2026-27 (down from 4.4% in FY26).
- Significance: Core macroeconomic indicator; fiscal consolidation strategy; vital for Banking/PSC exams.
- Capital Expenditure Outlay: ₹12.2 lakh crore allocated for FY27 (11.1% increase).
- Significance: Infrastructure push toward $5 trillion economy; manufacturing and job creation focus.
- Railway Budget Allocation: Record ₹2.77 trillion for Indian Railways in Budget 2026.
- Significance: Infrastructure development; DFCs, Kavach system, Amrit Bharat Station Scheme, economic corridors.
- STT on F&O: Securities Transaction Tax raised from 0.02% to 0.05% to curb speculative trading.
- Significance: Market regulation reform; capital markets governance; revenue generation measure.
- RBI & PSU Bank Dividends: Government expects ₹3.16 lakh crore in FY27 (3.75% increase).
- Significance: Non-tax revenue source; RBI-Government financial relationship; public finance management.
3. International Relations
- US-Venezuela Diplomatic Reset: US reopened mission in Venezuela after 7-year freeze (Feb 2, 2026).
- Significance: Global energy security implications; potential impact on India’s crude oil imports; geopolitical realignment.
- Iran-US Tensions: Supreme Leader Khamenei warned of “regional war” following US military deployments.
- Significance: Middle East crisis; India’s Connect West policy; Strait of Hormuz security; diaspora protection.
- Ramsar Sites Addition: India added Patna Bird Sanctuary (UP) and Chhari-Dhand (Gujarat); total now 98 sites (276% increase since 2014).
- Significance: International environmental obligations; wetland conservation; biodiversity protection.
4. Science, Technology & Environment
- ISRO Budget FY27: ₹13,705.63 crore allocated (2.1% increase); focus on Gaganyaan and Chandrayaan-4.
- Significance: Space program funding; human spaceflight mission; lunar sample return; private space sector incentives.
- IMEx-2026 Programme: ISRO opens microgravity research opportunities for academia and startups.
- Significance: Space-based research platform; materials science, biology, pharmacology applications.
- J&K Earthquake: 4.6-magnitude quake struck Baramulla’s Pattan area at 5:35 AM (Feb 2, 2026).
- Significance: Seismic Zone V vulnerability; Himalayan tectonic activity; disaster management preparedness.
- World Wetlands Day 2026: Theme “Wetlands and Human Wellbeing”; celebrated across 98 Indian Ramsar sites.
- Significance: Ramsar Convention (1971); ecosystem services; Amrit Dharohar scheme; blue-carbon ecosystems.
5. Infrastructure & Regional Development
- Purvodaya Initiative: East Coast Industrial Corridor with Durgapur node announced in Budget 2026.
- Significance: Act East policy implementation; West Bengal-Assam industrial development; 4,000 e-buses; Buddhist Circuit tourism.
- NIMHANS-2 Announcement: Second NIMHANS campus for North India; Ranchi and Tezpur upgraded to Regional Apex Institutes.
- Significance: Mental health infrastructure expansion; decentralization of specialized neurological/psychiatric care.
6. Sports & Awards
- Carlos Alcaraz Career Grand Slam: Youngest player (22 years) to complete Career Grand Slam at Australian Open 2026.
- Significance: Historic tennis achievement; defeated Djokovic; generational shift in men’s tennis.
- ICC T20 World Cup 2026: Warm-up matches began Feb 2; tournament co-hosted by India and Sri Lanka (Feb 7 start).
- Significance: Major international sporting event; final at Narendra Modi Stadium, Ahmedabad.
- WPL 2026 Eliminator: Delhi Capitals defeated UP Warriorz; Jemimah Rodrigues anchored the chase.
- Significance: Women’s cricket growth; premier domestic T20 competition; women’s empowerment in sports.
- Padma Awards 2026: Notable recipients include Alka Yagnik (Art), Uday Kotak (Trade & Industry), V.S. Achuthanandan (Posthumous).
- Significance: National honors; “People’s Padma” initiative; recognition across art, science, social work.
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