📰 Daily Briefing Thursday, Feb 05

Daily Current Affairs: 5 February 2026

Analysis for 05 February 2026

Divakar Jayant assumed charge as Director General of Naval Armament (DGONA) at Naval Headquarters, Ministry of Defence (MoD).

Key Updates:

  • Divakar Jayant, a 1991-batch Indian Naval Armament Service (INAS) officer, took over as DGONA on 2 February 2026.
  • He succeeded P. Upadhyay, who superannuated on 31 January 2026.
  • Jayant joined the Naval Armament Organisation of the Indian Navy on 28 December 1992.
  • He is an Electrical Engineering graduate from IIT Delhi and specialises in torpedo life-cycle management.
  • He has served as Chief General Manager and General Manager/Principal Director at Naval Armament Depots in Mumbai, Visakhapatnam, and Alwaye.

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M Anitha (IRS) appointed Director in Department of Defence. (Start of February) ▼
  • The Appointments Committee of the Cabinet (ACC) approved the appointment of M Anitha, IRS (Income Tax: 2007), as Director in the Department of Defence under the Central Staffing Scheme.
  • The Civil Services Board (CSB) recommended her lateral shift from the Department of Investment and Public Asset Management (DIPAM), where she is currently Director.
  • Her tenure in the Department of Defence will last up to 26 September 2026, the balance period of her five-year deputation at the Director level, or until further orders, whichever is earlier.
  • The appointment takes effect from the date she assumes charge of the post.
Indian Navy First Training Squadron concludes three-day Indonesia visit (End of January) ▼
  • Indian Navy First Training Squadron (1TS) departed Belawan, Indonesia on January 23 after a three-day port call.
  • Ships of 1TS included INS Tir, INS Shardul, INS Sujata and Indian Coast Guard Ship Sarathi.
  • Professional interactions, cultural exchanges, training visits and friendly sports meets were held with Indonesian Navy personnel.
  • Capt Tijo K Joseph, Senior Officer 1TS, met Laksamana Muda (RAdm) Deny Septiana, Commander of Naval Area Command I (Komando Kodaeral I).
  • An onboard reception co-hosted by 1TS and Consulate General of India, Medan, was attended by senior dignitaries of Kodaeral I with Kolonel Wirawan Aby P, Chief of Operations, as Chief Guest.
  • Indian naval trainees visited Komando Daerah Angkatan Laut I facilities to understand regional command roles.
  • Joint yoga sessions and friendly sports were organised fostering camaraderie between the two navies.
  • Ships were opened to local school children, generating excitement and curiosity through guided tours.
  • The visit advances India's Act East Policy and strengthens maritime cooperation with Indian Ocean Naval Symposium (IONS) member Indonesia under the MAHASAGAR vision.
Vice Admiral Sanjay Sadhu assumed charge as Controller of Warship Production and Acquisition (CWP&A) (Start of December) ▼
  • Vice Admiral Sanjay Sadhu, AVSM, NM assumed charge as Controller of Warship Production and Acquisition (CWP&A).
  • He succeeds Vice Admiral Rajaram Swaminathan, AVSM, NM, who is retiring on 30 November 2025 after 38 years of distinguished service.
  • He has been awarded the Ati Vishisht Seva Medal and the Nao Sena Medal.
  • He has the rare distinction of heading two major dockyards on both the Western and Eastern Coasts.
  • During the tenure of Vice Admiral Rajaram Swaminathan, eight ships were inducted into the Indian Navy.
  • Prior to assuming charge of the CWP&A, he served as the Program Director of the Advanced Technology Vessel Program in New Delhi.
Air Marshal Tejbir Singh assumes charge as Director General Inspection & Safety (Start of December) ▼
  • Air Marshal Tejbir Singh has assumed charge as Director General Inspection & Safety at Air Headquarters of the Indian Air Force (IAF).
  • He takes over from Air Marshal Makarand Bhaskar Ranade, who superannuated on 30 November 2025.
  • Air Marshal Tejbir Singh is an alumnus of the Royal College of Defence Studies, UK.
  • Air Marshal Tejbir Singh has been awarded the Vayu Sena Medal 2010 and the Ati Vishisht Seva Medal 2018.

Bhutan’s queen mother Dorji Wangmo Wangchuck received 22nd Upendra Nath Brahma ‘Soldier of Humanity’ Award 2025.

[Bhutan]

Key Updates:

  • Dorji Wangmo Wangchuck, queen mother of Bhutan and first wife of former king Jigme Singye Wangchuck, was conferred the 22nd Upendra Nath Brahma ‘Soldier of Humanity’ Award 2025 at Kokrajhar in Assam’s Bodoland Territorial Region.
  • The award was presented on Tuesday at Jwhwlao Nileswar Brahma Auditorium, Bodoland University, Kokrajhar.
  • Assam Governor Lakshman Prasad Acharya stated the award recognises her exemplary humanitarian services and compassionate leadership in social welfare, cultural preservation and women empowerment.
  • The honour symbolises deep, historic and enduring India-Bhutan ties with Assam at the centre.
  • The ‘Soldier of Humanity’ Award is dedicated to the ideals of Upendra Nath Brahma, social reformer and guardian of the Bodos, and is organised by the Upendra Nath Brahma Trust established in 1999.

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Major Swathi Shanthakumar wins UN Secretary-General's Award 2025 in Gender Category (Mid of January) ▼
  • Major Swathi Shanthakumar, an Indian Army officer from Bengaluru, received the UN Secretary-General's Award 2025 in the Gender Category for her project 'Equal Partners, Lasting Peace'.
  • She leads India's first all-woman military engagement team deployed with the UN Mission in South Sudan (UNMISS).
  • The award was announced by UN Secretary-General António Guterres.
India grants land in Varanasi for Bhutanese monastery and guesthouse (Mid of November) ▼
  • India will grant land in Varanasi for construction of a Bhutanese monastery and guesthouse
  • The monastery will be built near the banks of the Ganga and serve as a centre for spiritual learning, cultural exchange, and pilgrimage
  • India extended a Rs 4,000-crore line of credit to support Bhutan’s development projects
  • The 1,020 MW Punatsangchhu-II Hydropower Project was formally inaugurated
  • India and Bhutan signed three new agreements on renewable energy collaboration, mental-health research, and medical capacity-building
Amla Ashok Ruia receives Ramoji Excellence Award 2025 for Rural Development (Mid of November) ▼
  • Amla Ashok Ruia, known as 'Water Mother,' was honoured with the 'Excellence in Rural Development' award at the inaugural Ramoji Excellence Awards 2025.
  • The award was presented by Vice-President C P Radhakrishnan at Ramoji Film City, Hyderabad, in the presence of Telangana CM A Revanth Reddy, AP CM N Chandrababu Naidu and Telangana Governor Jishnu Dev Varma.
  • Through her Aakar Charitable Trust, Ruia has restored livelihoods and water security in drought-prone villages via innovative water-harvesting initiatives.
PM Modi's Bhutan Visit: Strengthening Bilateral Ties, Hydropower, Connectivity, and MoUs (Mid of November) ▼
  • Prime Minister Narendra Modi concluded a two-day state visit to Bhutan.
  • Discussions focused on energy, trade, technology, and connectivity.
  • India reaffirmed its “unwavering support” for Bhutan’s 13th Five-Year Plan, including the Economic Stimulus Programme.
  • The 1,020 MW Punatsangchhu-II Hydroelectric Project was inaugurated.
  • Both countries agreed to resume work on the main dam of the 1,200 MW Punatsangchhu-I Hydroelectric Project.
  • Bhutan welcomed India’s announcement of a concessional Line of Credit worth INR 40 billion for energy projects.
  • An MoU for two railway links—Gelephu-Kokrajhar and Samtse-Banarhat—was signed in September this year.
  • Bhutan expressed appreciation for India’s efforts to ensure the uninterrupted supply of essential commodities and fertilisers.
  • Three Memoranda of Understanding were signed during the visit: Cooperation in Renewable Energy, Cooperation in Health and Medicine, and Institutional linkages between the PEMA Secretariat and the National Institute of Mental Health and Neuro Sciences (NIMHANS).

Hugh Gantzer, Renowned Travel Writer and Padma Shri Recipient, Passes Away at 95

Key Updates:

  • Hugh Gantzer, a veteran travel writer and former Commander in the Indian Navy, passed away at the age of 95 in Mussoorie.
  • Hugh and his late wife Colleen Gantzer were jointly awarded the Padma Shri in 2025 for their extensive contributions to travel literature.
  • The duo authored approximately 3,000 articles and a dozen books, including a 1974 work on Kerala commissioned by the Indian Tourism Development Corporation (ITDC).
  • They hosted the popular 1980s television series titled Looking Beyond With Hugh & Colleen Gantzer on Doordarshan.
  • The couple wrote a series of mystery thrillers under the pseudonym Shyam Dave, which are considered among the first English-language thrillers written in India.
  • Hugh Gantzer was the founder of the Save Mussoorie Society and the Surahit Himalaya, through which he campaigned against limestone quarrying and unregulated development.
  • His notable literary works include Mussoorie’s Mythhistory, a book containing 12 stories that blended the history of the hill station with fiction.
  • Hugh Gantzer was laid to rest at the Camel’s Back Cemetery in Mussoorie.

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Mark Tully, veteran journalist and former BBC New Delhi bureau chief, dies at 90. (End of January) ▼
  • Mark Tully passed away at Max Hospital Saket in Delhi on 25 January 2026 at the age of 90.
  • He was born in Calcutta (now Kolkata) on 24 October 1935 to British parents.
  • Tully served as the British Broadcasting Corporation (BBC) New Delhi bureau chief for 22 years.
  • He was knighted in 2002 and received the Padma Bhushan from the Government of India in 2005.
  • His notable books on India include No Full Stops in India, India in Slow Motion and The Heart of India.
Dr Rajendra Prasad and K.K. Thakral receive Padma Shri 2026 for lifelong medical service. (End of January) ▼
  • Dr Rajendra Prasad, former Head of Pulmonary Medicine at King George's Medical University (KGMU), was awarded the Padma Shri 2026.
  • Dr Prasad is recognised as the founder of the Pulmonary Medicine Department at KGMU.
  • K.K. Thakral, an Ayurveda surgeon specialising in Shalya Tantra, also received the Padma Shri 2026.
  • Thakral completed his Ayurvedic education in 1964 from Lucknow and in 1968 from Banaras.
  • Both awardees are residents of Lucknow, Uttar Pradesh.
Anke Gowda received Padma Shri 2026 in Unsung Heroes category. (End of January) ▼
  • Anke Gowda, 75, was awarded Padma Shri 2026 for lifelong service to librarianship.
  • He runs Pustaka Mane in Haralahalli village, Pandavapura taluk, Mandya district, housing over 20 lakh books.
  • His collection includes 5,000 dictionaries, five lakh rare foreign books, 35,000 international magazines, 2,500 Kannada magazines, 2,500 titles on Mahatma Gandhi, 2,500 books on the Bhagavad Gita, and over 100 religious texts.
  • He received Limca Book of Records in 2016, Rajyotsava Award in 2014, Alva’s Nudi-Siri Award in 2011, and G.P. Rajaratnam Sahitya Paricharika Award in 2009.
Prafulla Govinda Baruah passed away as Editor of The Assam Tribune. (Mid of December) ▼
  • Prafulla Govinda Baruah died due to old age-related ailments at a Guwahati hospital.
  • He was the editor of The Assam Tribune, North East's oldest English daily.
  • He was a Padma Shri awardee and helmed the newspaper for decades.
  • He was the Chairman Emeritus of The Assam Tribune Group.

Elon Musk Surpasses $800 Billion Net Worth Following SpaceX-xAI Merger

[SpaceX, xAI]

Key Updates:

  • Tesla CEO Elon Musk has become the first person in history to surpass a net worth of $800 billion, reaching a total of $852 billion.
  • The wealth surge followed the merger of his rocket company SpaceX and artificial intelligence company xAI, valuing the combined entity at $1.25 trillion.
  • Musk holds a 43% stake in the newly combined SpaceX-xAI entity, which is estimated to be worth $542 billion.
  • Prior to the merger, Musk held a 42% stake in SpaceX valued at $336 billion and a 49% stake in xAI worth $122 billion.
  • Musk owns approximately 12% stake in Tesla valued at $178 billion, along with stock options worth $124 billion.
  • A previous merger in March 2025 combined xAI and social media platform X, valuing xAI at $80 billion and X at $33 billion.
  • Musk reached the $500 billion milestone in October 2025, $600 billion on 15 December 2025, and $700 billion on 19 December 2025.
  • India link not mentioned in the article.

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Delaware Supreme Court Overturns Ruling Increasing Elon Musk Net Worth to $749 Billion (End of December) ▼
  • Tesla CEO Elon Musk became the first person to cross the $700 billion mark, reaching a record net worth of $749 billion.
  • The Delaware Supreme Court overturned a lower court ruling that had voided Tesla stock options worth $139 billion.
  • Musk owns 12 per cent of Tesla common stock worth $199 billion, bringing his total Tesla holdings to $338 billion.
  • Musk holds a 42 per cent stake in SpaceX, which is targeting an Initial Public Offering (IPO) in 2026 with a valuation of $1.5 trillion.
  • Google co-founder Larry Page is the second-richest person in the world with an estimated net worth of $253 billion.
  • Tesla awarded Musk a separate pay package in November that could provide up to $1 trillion in additional stock if performance milestones are met.
Walmart becomes first traditional retailer to achieve $1 trillion market valuation (Start of February) ▼
  • Walmart has become the first traditional retailer to reach a market valuation of $1 trillion (£730 billion).
  • The company transitioned its stock listing from the New York Stock Exchange (NYSE) to the Nasdaq to reinforce its position as a digital and technology-driven firm.
  • Walmart recorded a 28% increase in e-commerce sales in the United States (US) during the three months ending 31 October.
  • The retailer announced a partnership with OpenAI in October to integrate artificial intelligence (AI) for meal planning and product discovery.
  • The company joins an elite group of firms with valuations exceeding $1 trillion, including Nvidia, Alphabet, Amazon, and Berkshire Hathaway.
  • John Furner reached the $1 trillion milestone during his first week as the Chief Executive (CE) of the company.
  • John David Rainey serves as the Chief Financial Officer (CFO) of the retail giant.
  • India link not mentioned in the article.
Elon Musk became first person to reach net worth of 600 billion dollars (Mid of December) ▼
  • Elon Musk holds an estimated 42 per cent stake in SpaceX.
  • SpaceX could go public with a valuation of 800 billion dollars.
  • SpaceX is expected to go public next year.
  • Musk’s 12 per cent stake in Tesla is currently worth 197 billion dollars.
  • Tesla shareholders approved a 1 trillion dollar compensation plan for Musk.
Forbes Real-Time Billionaire List records 3,028 billionaires with combined net worth of $16.1 trillion. (Mid of December) ▼
  • Elon Musk leads the list with a net worth of $480.5 billion and is on track to become the first trillionaire.
  • Larry Page ranks second with a net worth of $262.2 billion, surpassing Larry Ellison.
  • Sergey Brin is fourth with a net worth of $243.1 billion, pushing Jeff Bezos to fifth place.
  • Nine of the top 10 billionaires are Americans, with Bernard Arnault of France being the sole exception.
  • Mukesh Ambani is India’s richest person with a net worth of $114 billion, ranking 16th globally.

Chinese ambassador Xu Feihong announces India-China bilateral trade hit record USD 155.6 billion in 2025

[China]

Key Updates:

  • India-China bilateral trade reached USD 155.6 billion in 2025, marking a year-on-year growth of over 12 per cent.
  • India’s exports to China grew by 9.7 per cent during the same period.
  • The meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping in Tianjin last August led to improved ties and increased people-to-people exchanges.
  • China supports India’s BRICS presidency and is ready to strengthen multilateral coordination with New Delhi for Global South development.
  • The military stand-off that began after the June 2020 Galwan Valley clashes effectively ended in October 2024.

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Union Minister Ashwini Vaishnaw announces India clocks record $47 bn electronics exports in 2025 (Mid of January) ▼
  • India achieved a record $47 billion (₹4.15 lakh crore) in electronics exports in 2025.
  • Nearly $30 billion of total exports came from PLI-driven smartphone manufacturing.
  • Electronics has emerged as the country’s third-largest export category.
  • Domestic electronics production surged six-fold from ₹1.9 lakh crore in 2014–15 to ₹11.3 lakh crore in 2024–25.
  • Electronics exports have grown 11 times since 2014–15.
  • The sector has created around 25 lakh new jobs.
India and Canada commit to boost energy trade and critical mineral supply (End of January) ▼
  • Canada will export more crude oil, Liquefied Petroleum Gas (LPG) and Liquefied Natural Gas (LNG) to India.
  • India will ship higher volumes of refined oil to Canada.
  • Canadian Energy Minister Tim Hodgson and India’s Petroleum and Natural Gas Minister Hardeep Singh Puri discussed higher investment in biofuels, batteries, electricity systems and critical minerals including Uranium.
  • Total India-Canada trade reached $9.7 billion in 2024.
  • India accounted for 1 per cent of Canada’s critical mineral exports in 2024.
  • Under the proposed Comprehensive Economic Partnership Agreement (CEPA), India is likely to sign a 10-year agreement worth 2.8 billion Canadian dollars for Canadian uranium supply.
  • Canadian Prime Minister Mark Carney is expected to visit India in the first week of March to advance CEPA negotiations.
Chinese customs data records India-China bilateral trade at all-time high of USD 155.62 billion in 2025. (Mid of January) ▼
  • Indian exports to China rose to USD 19.75 billion in 2025, up USD 5.5 billion from the previous year.
  • Chinese exports to India increased 12.8% to USD 135.87 billion in 2025.
  • The India-China trade deficit widened to a record USD 116.12 billion in 2025, crossing the USD 100-billion mark for the second time since 2023.
  • In 2024, the trade deficit stood at USD 99.21 billion with China’s exports at USD 113.45 billion and India’s exports at USD 14.25 billion.
  • China’s global trade surplus reached almost USD 1.2 trillion in 2025, up 20% from 2024, with exports at USD 3.77 trillion and imports at USD 2.58 trillion.
United Nations Conference on Trade and Development (UNCTAD) reports India FDI inflows surge 73% to $47 billion in 2025 (End of January) ▼
  • The United Nations Conference on Trade and Development (UNCTAD) released the Global Investment Trends Monitor report highlighting global investment shifts.
  • Foreign Direct Investment (FDI) inflows to India increased by 73 per cent to reach USD 47 billion in 2025.
  • The surge in India was primarily driven by large investments in services including finance, Information Technology (IT), and Research and Development (R&D), as well as manufacturing.
  • Global FDI reached an estimated USD 1.6 trillion in 2025, representing a 14 per cent increase from the previous year.
  • FDI inflows to China declined for the third consecutive year, falling by 8 per cent to an estimated USD 107.5 billion.
  • The United States remained the world’s largest FDI recipient, recording a 2 per cent increase in inflows during 2025.
  • India ranked 7th globally as a host country for data centre projects, while France, the United States, and the Republic of Korea occupied the top three positions.
  • Total greenfield investment in data centres surpassed USD 270 billion, accounting for more than one-fifth of all investment projects globally.
  • Cross-border Mergers and Acquisitions (M&A) activity declined by 22 per cent to USD 132 billion, despite growth in the semiconductors and telecommunications sectors.
  • The total value of international project finance increased by 7 per cent to USD 218 billion, although activity in this segment declined in India and Egypt.
  • Major global financial centres including the United Kingdom, Luxembourg, Switzerland, and Ireland added more than USD 140 billion to the global FDI total.

Bharti AXA Life Insurance partners with Equitas Small Finance Bank to distribute life insurance products across 1,042 outlets.

[Bharti AXA Life Insurance, Equitas Small Finance Bank]

Key Updates:

  • Bharti AXA Life Insurance has entered into a bancassurance partnership with Equitas Small Finance Bank.
  • The partnership will offer protection, savings, and retirement plans to Equitas Small Finance Bank customers.
  • The collaboration targets deeper life insurance penetration in semi-urban and rural markets.
  • Equitas Small Finance Bank operates 1,042 banking outlets across 18 states and Union Territories.

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SBI Life Insurance launches SBI Life - Smart Platina Advantage guaranteed savings plan. (Mid of January) ▼
  • SBI Life - Smart Platina Advantage is an individual, non-linked, non-participating life insurance savings product offering long-term guaranteed benefits and life insurance protection throughout the policy term.
  • The product provides assured guaranteed additions every policy year and allows premium payment for a limited period while maintaining life cover for the entire policy term.
  • Tax benefits are available as per applicable provisions of the Income Tax Act, 1961.
  • Policyholders can opt to receive maturity proceeds in instalments, providing post-maturity liquidity and financial flexibility.
Canara HSBC Life Insurance (CHLIC) partners Equitas Small Finance Bank (ESFB) to expand life insurance reach. (End of December) ▼
  • CHLIC will distribute life protection, savings, annuity, child plans, and investment-linked solutions through ESFB’s network of 994 banking outlets and 365 ATMs across 18 states and Union Territories.
  • The partnership targets deeper penetration in Tamil Nadu, Karnataka, Kerala, and Maharashtra.
  • The alliance supports IRDAI’s ‘Insurance for All by 2047’ vision.
Insurance Regulatory and Development Authority of India (IRDAI) grants corporate agency licence to Sahaj Insurance Services targeting 10 crore rural policies. (Mid of December) ▼
  • Sahaj Insurance Services Pvt Ltd, a subsidiary of Sahaj Retail Ltd, received a corporate agency licence from the Insurance Regulatory and Development Authority of India (IRDAI).
  • The company aims to sell about 10 crore insurance policies in its first year of operation.
  • Sahaj Retail Ltd operates a network of about 4.5 lakh digitally enabled rural centres serving over 70 crore people.
  • The insurance portfolio includes life, health, accident, crop, livestock and micro-insurance products developed in partnership with leading insurers.
  • Services will integrate government-backed insurance and social-security schemes to deepen financial inclusion.
  • Sahaj is active in states such as Bihar, Uttar Pradesh, West Bengal, North East and Odisha.
PNB MetLife India Insurance Company Limited (PNB MetLife) Launches DigiProtect Term Plan for Salaried Individuals (End of December) ▼
  • PNB MetLife India Insurance Company Limited (PNB MetLife) launched the PNB MetLife DigiProtect Term Plan (UIN-117N141V01) in collaboration with Policybazaar.
  • The product is an individual non-linked, non-participating, pure term insurance plan designed specifically for salaried individuals in Tier 2 and Tier 3 cities.
  • The plan offers an exclusive first-year discount of up to 21% on the first premium to lower entry costs for policyholders.
  • India faces a 91% life protection gap, which indicates that only ₹9 is covered for every ₹100 required to financially secure families.
  • Policybazaar holds a market share of over 93% in the digital insurance aggregator space and recorded an annual premium collection exceeding ₹15,000 crore in FY24.
  • Policybazaar has issued over 44.3 million policies and caters to more than 80.5 million registered users.
  • PNB MetLife operates through 178 branches and provides access to customers in over 20,000 locations through bank partnerships and a network of 36,000 financial advisors.
  • The company currently caters to over 585 group relationships in India and offers a portfolio covering child education, family protection, and retirement.

Reserve Bank of India (RBI) Imposes ₹18.76 Lakh Compounding Fee on Paytm

[Reserve Bank of India (RBI), One 97 Communications]

Key Updates:

  • The Reserve Bank of India (RBI) has issued a compounding order to One 97 Communications (Paytm) for contraventions under the Foreign Exchange Management Act (FEMA).
  • The RBI imposed a compounding fee of ₹18.76 lakh regarding investments made in Little Internet Private Limited by Little Internet Singapore.
  • The underlying transactions involved an aggregate value of approximately ₹33 crore and pertained to the period between March 2016 and June 2017.
  • The Directorate of Enforcement (ED) terminated FEMA proceedings against Nearbuy India on 19 December after the company paid a penalty of ₹4.28 lakh following an RBI compounding order.
  • Paytm had previously received a show cause notice from the ED for alleged FEMA violations involving transactions worth ₹611 crore linked to the company and its subsidiaries.
  • The parent firm of Paytm was allegedly involved in transactions worth ₹245 crore, while Little Internet and Nearbuy India were linked to contraventions involving ₹345 crore and ₹20.9 crore, respectively.
  • Paytm acquired the hyperlocal discovery and deals platforms Little Internet and Nearbuy in 2017 and subsequently merged the two brands.

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Reserve Bank of India (RBI) Issues Foreign Exchange Management (Guarantees) Regulations 2026 (End of January) ▼
  • The Reserve Bank of India (RBI) has released the Foreign Exchange Management (Guarantees) Regulations, 2026, replacing the previous framework from 2000.
  • The new principle-based regime expands the automatic route for cross-border guarantees, allowing transactions without prior approval if they meet FEMA borrowing and lending rules.
  • Mandatory reporting of all guarantees must be submitted to authorized dealer banks on a quarterly basis within 15 days of the quarter end.
  • The RBI has introduced a Late Submission Fee (LSF) for delayed reporting, calculated as ₹7,500 + 0.025% × amount involved × number of years of delay.
  • A new reporting format, Form GRN, has been introduced to capture granular data including guarantee commissions, invocation details, and timelines for extinguishing liabilities.
  • The regulations do not apply to guarantees issued under the Overseas Investment Regulations, 2022, or irrevocable payment commitments issued by custodian banks for Foreign Portfolio Investors (FPIs).
Reserve Bank of India (RBI) imposes Rs 99.30 lakh penalty on Jammu and Kashmir Bank (Start of December) ▼
  • The Reserve Bank of India (RBI) imposed a fine of Rs 99.30 lakh on Jammu and Kashmir Bank.
  • The penalty was for failing to comply with directions regarding grievance handling, customer communication, KYC verification, and the transfer of unclaimed deposits.
  • The fines were based on the statutory inspection of the bank's financial position as of March 2024.
  • The inspection found that certain complaints were not escalated to the Internal Ombudsman.
  • The bank did not send final resolution letters to customers after closing complaints.
  • The bank was not using face-verification technology for video-based customer identification.
  • The bank was not verifying customers' financial information furnished at the time of onboarding.
  • There was a delay in the transfer of eligible unclaimed deposits to the Depositor Education and Awareness Fund.
Reserve Bank of India (RBI) overhauls FEMA guarantees regime, widens automatic route and mandates quarterly reporting. (Mid of January) ▼
  • Reserve Bank of India (RBI) replaces the 2000 rules with the Foreign Exchange Management (Guarantees) Regulations, 2026.
  • Guarantees are freely permitted if the underlying transaction is not prohibited under FEMA and parties are eligible to lend or borrow under FEMA borrowing and lending rules.
  • Guarantees issued, modified or invoked must be reported quarterly within 15 days of quarter-end to authorised dealer banks using Form GRN.
  • Late submission attracts a fee of Rs 7,500 + 0.025% × amount involved × years of delay (rounded to nearest month and Rs 100).
  • Exemptions cover guarantees by overseas/IFSC branches of authorised dealer banks, irrevocable payment commitments by custodian banks for FPIs, and guarantees under Overseas Investment Regulations, 2022.
Reserve Bank of India (RBI) slaps Rs 91 lakh penalty on HDFC Bank (Start of December) ▼
  • The Reserve Bank of India (RBI) imposed a penalty of Rs 91 lakh on HDFC Bank.
  • The penalty was for violating certain provisions of the Banking Regulation Act and non-compliance with certain directions.
  • Deficiencies included those related to Know Your Customer (KYC) requirements.
  • Non-compliance also pertained to ‘Interest Rate on Advances’ and ‘Guidelines on Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks’.
  • A Statutory Inspection for Supervisory Evaluation of HDFC Bank was conducted with reference to its financial position as on March 31, 2024.
  • HDFC Bank adopted multiple benchmarks within the same loan category.
  • HDFC Bank outsourced the function of determining compliance with KYC norms of certain customers to its outsourcing agents.
  • A wholly-owned subsidiary of HDFC Bank undertook business not permissible under Section 6 of the Banking Regulation (BR) Act.

Goldman Sachs raises India CY26 Real Gross Domestic Product (GDP) Growth Forecast to 6.9%

[Goldman Sachs]

Key Updates:

  • Goldman Sachs has raised India’s real Gross Domestic Product (GDP) growth forecast for calendar year 2026 by 20 basis points to 6.9 per cent.
  • The upward revision follows the United States (US) reducing reciprocal tariffs on Indian goods to 18 per cent from the previous 25 per cent.
  • The revised 18 per cent tariff rate aligns India with other Asian economies that face US tariff rates ranging between 15 per cent and 19 per cent.
  • India’s bilateral goods trade surplus with the US doubled from approximately $20 billion in CY2015 to about $40 billion in CY2025 year-to-date.
  • The expansion in trade surplus was primarily driven by higher surpluses in electronics, pharmaceutical products, and textiles.
  • American crude oil accounted for 7 per cent of India’s crude imports by volume in Financial Year 2026 (FY26) up to November 2025, compared to 4 per cent in FY25.

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Deloitte India projects India GDP growth at 7.5-7.8% for FY26 and 6.6-6.9% for FY27. (Mid of January) ▼
  • Deloitte India forecasts full-year GDP growth at 7.5-7.8 per cent for FY2025-26.
  • Growth is expected to moderate to 6.6-6.9 per cent in FY2026-27 on a high base and persistent global uncertainties.
  • Real GDP grew 8 per cent in the first half April-September of the ongoing 2025-26 fiscal.
Ministry of Statistics and Programme Implementation (MoSPI) projects India’s real GDP growth at 7.4% for FY26. (Mid of January) ▼
  • MoSPI’s First Advance Estimates place FY26 real GDP growth at 7.4%, up from 6.5% in FY25.
  • Nominal GDP growth for FY26 is estimated at 8.0%.
  • Real gross value added (GVA) is projected to rise 7.3% in FY26, with the services sector identified as the key growth engine.
  • Private consumption growth eased to 7% YoY in FY25 versus 7.2% in the previous fiscal.
  • Manufacturing GVA growth is estimated at 7% and Financial, Real Estate & Professional Services plus Public Administration, Defence & Other Services are estimated to grow 9.9% at constant prices in FY26.
  • Agriculture and allied sector GVA growth is pegged at 3.1% while Electricity, Gas, Water Supply & Other Utility Services GVA growth is moderate at 2.1% in FY26.
  • Reserve Bank of India (RBI) had forecasted FY26 GDP growth at 7.3% in its December MPC meeting.
  • CRISIL revised its FY26 GDP growth forecast to 7% after Q2 FY26 data showed 8.2% growth, the fastest in six quarters.
  • India Ratings & Research (Ind-Ra) pegs FY26 real GDP growth at 7.4% and nominal GDP growth at 9%.
  • Bank of Baroda projects FY26 GDP growth in the 7.4%-7.6% range, noting risks from decelerating exports to the US.
  • SBI Capital Markets expects FY26 real GDP growth to exceed 7% and nominal GDP growth at around 8.5% y/y.
  • Acuité Ratings & Research revised FY26 GDP growth estimate to 7.2% from 6.6% after Q2 data.
  • The Second Advance Estimates of GDP for FY26 will be released on 27 February 2026 and will incorporate a base revision to 2022-23.
Fitch Ratings raises India FY26 GDP forecast to 7.4% from 6.9% (Start of December) ▼
  • Fitch Ratings has raised India’s GDP growth forecast for FY26 to 7.4% from 6.9%.
  • Private consumer spending is the main driver of growth this year, supported by strong real income dynamics and increased consumer sentiment.
  • India’s GDP growth accelerated to a six-quarter high of 8.2% in the second quarter of FY26, up from 5.6% in the same quarter last year.
  • Consumer price inflation fell to an all-time low of 0.3% in October, driven by lower food and drink prices (-3.7% in the year to October).
  • Fitch expects the Reserve Bank of India (RBI) to cut the policy rate once more in December to 5.25%, following 100bp of cuts in 2025.
  • Fitch projects India’s GDP growth to slow to 6.4% in FY27 and further to 6.2% in FY28.
  • India faces one of the highest ETRs on its exports to the US (about 35%); a trade agreement that lowers the ETR would boost external demand.
Fitch Ratings raises India FY26 GDP growth forecast to 7.4% from 6.9%. (Start of December) ▼
  • Fitch Ratings raised India’s FY26 GDP growth forecast to 7.4% from 6.9%.
  • GDP growth is expected to slow to 6.4% in FY27.
  • India’s GDP growth hit a six-quarter high of 8.2% in Q2FY26.
  • Fitch projects the Indian rupee to strengthen to 87 per dollar by end-2026 from 88.5 projected for end-2025.
  • Retail inflation fell to a record low of 0.25% in October.
  • Fitch expects the Reserve Bank of India (RBI) to cut the policy rate by 25 basis points to 5.25% in December.
  • The RBI has already cut rates by 100 basis points in 2025 so far.
  • Fitch sees the RBI holding the policy rate at 5.25% over the next two years.
  • India faces an effective tariff rate of around 35% on exports to the US.
  • GST reforms effective September 22 shifted to a two-rate structure of 5% and 18%, lowering tax rates on about 375 items.
  • Private investment is projected to pick up in the second half of 2026-27 as financial conditions loosen.

CPI 2024 series modernised with food weight cut to 36.8% and rural rent tracking introduced

Key Updates:

  • Ministry of Statistics and Programme Implementation (MoSPI) announced the new Consumer Price Index (CPI) 2024 series to be released on 12 February 2026.
  • Food and beverages weight in CPI basket lowered from 45.9% in 2012 to 36.8% in 2024, a reduction of 9.1 percentage points.
  • Housing, water, electricity, gas and other fuels category weight rose from 16.9% to 17.7%, becoming the second-largest gainer.
  • House rent index compilation extended to rural areas for the first time, selecting six rented dwellings per rural village versus 12 per urban market.
  • Census 2011 data now used for dwelling type weights, replacing the earlier Housing Condition Survey.
  • Transport weight increased marginally to 8.8% and health weight rose to 6.1%.
  • Education services weight declined to 3.3% from 4.5%.

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Ministry of Statistics and Programme Implementation (MoSPI) records December CPI inflation at 1.33% (Mid of January) ▼
  • India’s headline retail inflation based on the Consumer Price Index (CPI) rose to 1.33 per cent in December 2025 from 0.71 per cent in November.
  • Retail food prices fell 2.71 per cent year-on-year in December after falling by 3.91 per cent the previous month.
  • The December 2025 retail inflation figure is the last under the existing CPI series; a new series with base year 2024 will be introduced next month.
  • The October–December CPI inflation averaged ~0.8 per cent, about 20 basis points higher than the Monetary Policy Committee’s Q3FY26 forecast.
  • Core inflation rose to 4.6 per cent in December from 4.4 per cent the previous month, driven by gold and silver price surges.
  • Gold inflation hit a record high of 68.66 per cent and silver inflation reached 97.07 per cent in December.
  • Excluding gold and silver, December CPI inflation would have been 0.26 per cent.
  • The Reserve Bank of India (RBI) expects inflation to average around 4 per cent in the first half of 2026-27.
Ministry of Industry data shows Wholesale Price Index inflation at 0.83% in December 2025. (Mid of January) ▼
  • Wholesale price inflation recorded at 0.83% in December 2025, returning to positive territory after negative readings of (-)0.32% in November and (-)1.21% in October.
  • Retail inflation rose to 1.33% in December from 0.71% in November, driven by rising food prices.
  • Deflation in vegetables narrowed to 3.50% in December from 20.23% in November.
  • Inflation in manufactured products increased to 1.82% in December from 1.33% in November.
  • Deflation in fuel and power sectors continued at 2.31% in December compared to 2.27% in November.
  • Reserve Bank of India (RBI) has cut policy interest rates by 1.25 percentage points during the current fiscal year.
  • RBI lowered inflation projection for the current fiscal to 2% from the earlier 2.6%.
  • RBI reduced key policy interest rates by 25 basis points to 5.25% last month.
  • RBI raised FY26 GDP growth projection to 7.3% from the previous 6.8%.
  • India registered GDP growth of 8.2% in the September quarter and 7.8% in the June quarter.
Ministry of Statistics and Programme Implementation (MoSPI) resets base years for CPI, GDP, and IIP (End of December) ▼
  • The Ministry of Statistics and Programme Implementation (MoSPI) will release a new series of Consumer Price Index (CPI) data with the base year 2024=100 on February 12, 2026.
  • MoSPI will roll out revised National Accounts data using 2022-23 as the base year on February 27, 2026.
  • The new Index of Industrial Production (IIP) series, featuring 2022-23 as the base year, is scheduled for release on May 28, 2026.
  • MoSPI convened a pre-release consultative workshop to discuss proposed methodological and structural changes in the revised data series with stakeholders.
  • The revision process involves key officials including NITI Aayog Vice Chairman Suman K Bery, Chief Economic Advisor V Anantha Nageswaran, and MoSPI Secretary Saurabh Garg.
Ministry of Statistics and Programme Implementation (MoSPI) records CPI inflation at 0.71% for November 2025. (Mid of December) ▼
  • Headline inflation rose to 0.71% in November 2025, up from 0.25% in October.
  • The All India Consumer Food Price Index (CFPI) shows a year-on-year inflation rate of -3.91% for November 2025.
  • Rural headline inflation reached 0.10% in November 2025, up from -0.25% in October.
  • Urban headline inflation increased to 1.40% in November 2025 from 0.88% in October.
  • Fuel and light inflation stood at 2.32% year-on-year in November 2025, rising from 1.98% in October.

Lung Cancer Treatment and Palliation: Evidence-Based Guidelines released to standardise cancer care

Key Updates:

  • Union Health Minister Jagat Prakash Nadda released India’s first national, evidence-based guidelines for lung cancer treatment and palliation at Kartavya Bhavan.
  • The document, titled Lung Cancer Treatment and Palliation: Evidence-Based Guidelines, outlines 15 recommendations covering diagnosis, treatment pathways, and palliative care.
  • The guidelines were developed by experts under the Department of Health Research (DHR) and the Directorate General of Health Services (DGHS).
  • The framework is applicable to both public and private healthcare systems to address regional variations and reduce treatment gaps in lung cancer management.
  • The guidelines are tailored to India’s specific disease burden and healthcare realities rather than relying solely on Western clinical models.
  • The initiative aims to improve early diagnosis, standardise care across states, and reduce disparities between public and private hospitals.
  • A plain-language summary will be issued alongside the technical document to help patients and caregivers understand treatment options.

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World Cancer Day 2026 observed on February 4 with theme 'United by Unique' (Start of February) ▼
  • World Cancer Day is observed on February 4 every year.
  • The theme for World Cancer Day 2026 is 'United by Unique'.
  • The International Agency for Research on Cancer (IARC) reported an estimated 20 million new cancer cases and 9.7 million cancer-related deaths globally in 2022.
  • India reported over 15 lakh cancer cases in 2024, up from 13.5 lakh in 2019.
  • Cancer cases in India rose from 13.9 lakh in 2020 to 14.2 lakh in 2021, 14.6 lakh in 2022, and 14.9 lakh in 2023.
Assam Proton Therapy Machine Procurement for Cancer Care (Start of January) ▼
  • Assam government will purchase a proton therapy machine at a cost of Rs 500 crore for cancer care.
  • The machine will be part of the cancer grid in Assam and is aimed at making the state a hub of medical tourism.
  • Assam will be the first state in the country to have a proton-based therapy machine in the public health system.
Union Budget 2026–27: Basic Customs Duty Removed on 17 Cancer Drugs and Rare Disease Medicines (Start of February) ▼
  • Finance Minister Nirmala Sitharaman announced the complete removal of basic customs duty on 17 cancer-related drugs and medicines in the Union Budget 2026–27.
  • Customs duty relief was extended to seven additional rare diseases, exempting personal imports of drugs, medicines, and foods for special medical needs.
  • The exemption aims to reduce the financial burden on patients relying on imported oncology medicines for complex and advanced treatments.
  • The measure is intended to lower out-of-pocket expenditure for patients, particularly those lacking comprehensive health insurance coverage.
  • The Union Budget 2026–27 also provided a 69% increase in funding for the Intelligence Bureau (IB) to strengthen internal security.
India dispatches 7.5 tonnes of cancer medicines to Afghanistan (End of January) ▼
  • India dispatched 7.5 tonnes of life-saving cancer medicines to Kabul to address urgent needs of cancer patients.
  • The medicines were sent to meet the shortage in Afghanistan.
  • India remains committed to supporting the friendly people of Afghanistan.

Bharat Container Shipping Line MoU signed with ₹15,000 crore joint funding for port capacity expansion

[Bharat Container Shipping Line]

Key Updates:

  • The Union Government signed an MoU on 4 February 2026 to establish the Bharat Container Shipping Line (BCSL) under the Ministry of Ports, Shipping and Waterways (MoPSW).
  • The MoU was signed among Shipping Corporation of India (SCI), Container Corporation of India (CONCOR), Jawaharlal Nehru Port Authority, V.O. Chidambaranar Port Authority (VOCPA), Chennai Port Authority, and Sagarmala Finance Corporation Limited (SMFCL).
  • A separate tripartite MoU was signed between VOCPA, Indian Railway Finance Corporation Limited (IRFC), and Sagarmala Finance Corporation Limited (SMFCL) to finance the Outer Harbour Project at Tuticorin.
  • The agreements provide for joint funding of up to ₹15,000 crore for eligible projects to expand port capacity under the Sagarmala Programme and the PM Gati Shakti National Master Plan.
  • The financing framework will use a Hybrid Annuity Model (HAM) focusing on debt funding for breakwater construction and allied onshore-offshore facilities.
  • The initiatives align with the Container Manufacturing Assistance Scheme (CMAS) announced in Union Budget 2026-27 and support the Maritime Amrit Kaal 2047 vision.

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Shipping Corporation of India (SCI), Container Corporation of India (CONCOR), and port authorities form Bharat Container Shipping Line (BCSL) with ₹15,000 crore joint funding. (Start of February) ▼
  • Shipping Corporation of India (SCI), Container Corporation of India (CONCOR), Jawaharlal Nehru Port Authority, V.O. Chidambaranar Port Authority (VOCPA), Chennai Port Authority, and Sagarmala Finance Corporation Limited (SMFCL) signed an agreement on Tuesday to form Bharat Container Shipping Line (BCSL).
  • The agreement provides for joint funding of up to ₹15,000 crore for eligible projects aimed at port capacity expansion under the Sagarmala Programme and the PM Gati Shakti National Master Plan.
  • India will place orders for 15 domestically manufactured container vessels through BCSL during fiscal 2026-27 as part of a strategy to procure 51 vessels in the next five years under phase one.
  • The initiative is aligned with the Container Manufacturing Assistance Scheme (CMAS) announced in Union Budget 2026-27.
MoS&T-TDB and VMSPL Sign IC-CIR&D Pact for 20-Passenger Electric Boat (Start of January) ▼
  • The Technology Development Board (TDB) under the Department of Science and Technology (DST), Ministry of Science & Technology (MoS&T), signed an agreement with Vijai Marine Services Private Limited (VMSPL), Goa for the 'Smart Sea Project by Vijai Autonomous Craft for Environment (VACE)'.
  • The project will develop and demonstrate a 20-passenger electric boat with IRS-certified FRP hull, electric propulsion and battery systems supplied by Canadian partner ACEL Power Inc.
  • Aimed at reducing emissions and noise, the initiative supports India’s goals of clean waterways and sustainable tourism under the Indo-Canada Collaborative Industrial Research and Development Programme (IC-CIR&D).
New Mangalore Port Authority Golden Jubilee: Rs 1,500-cr Infrastructure & CSR Projects Unveiled (Mid of November) ▼
  • Implementing Agency: New Mangalore Port Authority (NMPA) under the Union Ministry of Ports, Shipping and Waterways.
  • Financial Outlay: 16 infrastructure and 113 CSR projects collectively valued at Rs 1,500 crore announced during the golden-jubilee celebration.
  • Strategic Objective: Projects align with Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047 to expand India’s maritime infrastructure.
  • Green Initiative: NMPA currently operates on 100% solar power and is transitioning further toward green energy.
  • Future Cargo Target: Port presently handles over 46 million tonnes annually, with plans to double capacity to 100 million tonnes by 2047.
  • Upcoming Investment: India Maritime Week 2025 is expected to bring additional MoUs worth Rs 52,000 crore for the port sector.
Indian Navy Signs Contract with MSME Shipyard for Construction of Three 200-tonne Barges on 16 January 2026 (End of January) ▼
  • The Indian Navy (IN) concluded a contract for the construction and delivery of three 200-tonne Bottom Opening Non-Propelled Barges with M/s Suryadipta Projects Private Limited, Thane, an MSME shipyard, on 16 January 2026.
  • The barges will be designed and constructed entirely in India under the Classification Rules of the Indian Register of Shipping (IRS), reinforcing the Navy’s commitment to quality, safety and national maritime standards.
  • The project stands as a strong endorsement of the Government of India’s Make in India and Aatmanirbhar Bharat initiatives, showcasing the growing capability of Indian MSME shipyards to deliver specialised naval auxiliary platforms.
  • The initiative contributes directly to the strengthening of India’s domestic shipbuilding ecosystem, in alignment with the goals of the Maritime India Vision 2030, which emphasises self-reliance, innovation, and capacity building.

16th Finance Commission retains states’ tax share at 41%

Key Updates:

  • The sixteenth Finance Commission recommended retaining the state’s share in the divisible tax pool at 41% for the five-year period beginning April 1, 2026.
  • The commission recommended ending revenue deficit grants for the states.
  • The commission added states’ contribution to GDP among its horizontal devolution criteria.
  • The commission recommended stricter fiscal discipline for states and annual disclosure of net proceeds of Union taxes certified by the Comptroller and Auditor General.
  • States are required to disclose their off-budget borrowings.
  • The commission enhanced disaster grants and enforced stricter timelines for fund transfers to local governments with higher penalties for failure.
  • For horizontal devolution, the commission will give 15.5% weightage to population based on 2011 census, 10% to demographic performance, 10% each to area and forest cover, 42.5% on per-capita income distance, and the rest on states’ contribution to GDP.
  • Of total grants of Rs 7.91 lakh crore to rural and urban local bodies, 60% is earmarked for rural local bodies and 40% for urban local bodies, with 20% grant to be performance-linked.
  • Half of the basic grant is tied to sanitation, solid waste management, and water management.
  • The commission proposed an urbanisation premium of ₹10,000 crore to incentivise merger of peri-urban villages into larger urban local bodies.
  • A ₹56,100-crore special infrastructure window is proposed for comprehensive wastewater management in select urban growth centres.
  • States must transfer funds to local bodies within 10 working days of receipt from the centre, failing which interest will be payable.
  • The commission recommended a combined ₹2.04 lakh crore corpus for State Disaster Response and Mitigation Funds over five years with an 80:20 split between response and mitigation.
  • The centre’s share is capped at ₹1.56 lakh crore for disaster management.
  • The commission proposed separate allocations of ₹79,406 crore for the National Disaster Response and Mitigation Funds.
  • From 2027-28 onwards, states must fully upload and validate data on the National Disaster Management Information System portal to access disaster grants.
  • The commission called for strict enforcement of a 3% gross state domestic product (GSDP) cap on states’ fiscal deficits and discontinuation of off-budget borrowings.
  • The centre accepted the borrowing cap for states in principle and will examine other fiscal recommendations separately.

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Constitution (131st Amendment) Bill 2025 row: Chandigarh’s unique status, and why Punjab opposes proposed change (End of November) ▼
  • The Constitution (131st Amendment) Bill 2025 proposed to include Chandigarh under Article 240, which would pave the way for the city to get an independent administrator, altering its current status where the Governor of Punjab holds additional charge as its Administrator.
  • Chandigarh holds a unique status as a Union Territory and the shared capital of Punjab and Haryana, an arrangement established after Haryana was carved out under The Punjab Reorganisation Act, 1966, with properties divided in a 60:40 ratio.
  • Punjab opposes the proposed change and stakes sole claim to Chandigarh because it was built as a replacement for Lahore, the united Punjab’s capital after Partition, and the Centre had announced in 1970 that the capital project area of Chandigarh should, as a whole, go to Punjab, a claim Punjab considers undisputed.
Income Tax Department records 8% rise in net direct tax collections to ₹17.05 lakh crore this FY till Dec 17. (Mid of December) ▼
  • Net direct tax collections between April 1 and December 17, 2025, stood at ₹17,04,725 crore against ₹15,78,433 crore in the same period last year.
  • Gross direct tax collections grew 4.16% year-on-year to ₹20,01,794 crore.
  • Net corporate tax collections rose to ₹8,17,310 crore from ₹7,39,353 crore a year ago.
  • Net non-corporate tax collections increased to ₹8,46,905 crore from ₹7,96,181 crore.
  • Refunds issued during the period fell 13.52% to ₹2,97,069 crore from ₹3,43,499 crore last year.
  • Total advance tax collections rose 4.27% to ₹7,88,388 crore; corporate advance tax increased nearly 8% to ₹6,07,300 crore while non-corporate advance tax declined 6.49% to ₹1,81,088 crore.
  • Securities transaction tax collections remained flat at around ₹40,195 crore.
16th Finance Commission Submits Report on Tax Devolution and Financial Arrangements (Mid of November) ▼
  • The 16th Finance Commission, led by Dr Arvind Panagariya, submitted its report for 2026-31 to President Droupadi Murmu.
  • The report contains recommendations on how the tax pool will be divided between the Centre and states for the next five years beginning April 1, 2026.
  • It includes a formula for dividing tax among states based on a weighted sum of population, area, demographic performance, fiscal effort, income distance, and forest cover.
  • The report also specifies revenue augmentation measures, arrangements for financing disaster management initiatives with reference to funds under the Disaster Management Act, 2005, and determines financing of municipal bodies.
  • The 16th Finance Commission was set up on December 31, 2023, and was mandated to submit its report by October 31, with an extension until November 30.
  • The commission's members include former senior finance ministry official Annie George Mathew and economist Manoj Panda as full-time members, and SBI Group Chief Economic Advisor Soumya Kanti Ghosh and RBI Deputy Governor T Rabi Sankar as part-time members.
Controller General of Accounts (CGA) releases data on Centre's fiscal deficit at 52.6% of FY26 target by October (End of November) ▼
  • The central government’s fiscal deficit stood at 52.6% of the full-year target at the end of October 2025.
  • In absolute terms, the fiscal deficit touched Rs 8,25,144 crore in the April–October period of 2025-26.
  • For the full year, the Centre pegged the deficit at 4.4% of GDP, or Rs 15.69 lakh crore.
  • The government received Rs 18 lakh crore up to October, amounting to 51.5% of the Budget Estimates (BE) for 2025-26.
  • Total expenditure stood at Rs 26.25 lakh crore, or 51.8% of the annual estimate.
  • Tax devolution to states was Rs 8,34,957 crore between April and October.
  • Within revenue expenditure, Rs 6.73 lakh crore went towards interest payments.
  • Rs 2.46 lakh crore was spent on major subsidies.

India joins BRICS Centre for Industrial Competencies to promote manufacturing sector

Key Updates:

  • India joined the BRICS Centre for Industrial Competencies (BCIC) on 4 February 2026.
  • BCIC was launched by the United Nations Industrial Development Organisation (UNIDO) in 2025.
  • The National Productivity Council (NPC) has been designated as the India Centre for BCIC.
  • A trust fund agreement formalising India’s participation was signed between the Department for Promotion of Industry and Internal Trade (DPIIT) and UNIDO.
  • The agreement was signed by Economic Adviser, DPIIT, Agrim Kaushal, and Director, UNIDO, Cristiano Pasini.
  • NPC will operate under DPIIT’s policy direction to support capacity building and manufacturing-related initiatives for MSMEs within the BRICS framework.
  • The launch event was presided over by Secretary, DPIIT, Amardeep Singh Bhatia.
  • Attendees included senior officials from DPIIT, the Ministry of MSME, the Ministry of External Affairs, UNIDO representatives, and the Federation of Indian Chambers of Commerce and Industry (FICCI).

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India launches BRICS India 2026 logo featuring lotus and Namaste gesture (Mid of January) ▼
  • India formally launched the logo and official website for its BRICS Presidency 2026 in New Delhi.
  • The logo is inspired by the lotus, India’s national flower, with inner petals forming two hands in a Namaste gesture.
  • Five petals are coloured to represent the founding BRICS members: Brazil, Russia, India, China and South Africa.
  • External affairs minister S Jaishankar stated the theme underscores strengthening capacities, promoting innovation and ensuring sustainable development.
  • India’s 2026 BRICS chairship priorities are resilience, innovation, cooperation and sustainability across political-security, economic-financial and cultural-people-to-people pillars.
World Bank Group and India launch Country Partnership Framework with USD 8-10 billion annual financing (Start of February) ▼
  • The World Bank Group (WBG) and India announced a new Country Partnership Framework (CPF) envisaging USD 8-10 billion in annual financing over the next five years.
  • The CPF is aligned with India's Viksit Bharat vision to become a developed economy by 2047 and was discussed between Finance Minister Nirmala Sitharaman and WBG President Ajay Banga.
  • The partnership prioritises private sector-led job creation to accommodate the approximately 12 million young people entering India's labour market each year.
  • The strategy focuses on five key sectors for job creation: infrastructure and energy, agribusiness, health care, tourism, and value-added manufacturing.
  • The framework targets four strategic outcomes: boosting rural prosperity, supporting urban transformation, investing in energy security and core infrastructure, and strengthening resilience.
  • India is the largest client of the WBG, with International Bank for Reconstruction and Development (IBRD) commitments of USD 20 billion across 79 projects.
  • The International Finance Corporation (IFC) holds commitments of USD 16.72 billion across 174 projects in India.
  • The Multilateral Investment Guarantee Agency (MIGA) has provided USD 618 million in guarantees for Indian projects.
Brazil Hands Over BRICS Chair to India for 2026 Summit (Mid of December) ▼
  • Brazil hosted the 17th BRICS Summit earlier this year.
  • India will assume the BRICS chair for 2026.
  • Brazilian Vice-President Geraldo Alckmin stated: "BRICS is not aimed against any country" and "not to replace the US dollar".
  • Alckmin confirmed President Lula’s visit to India is scheduled for February 2026.
  • Brazil and India are exploring defence cooperation in aerospace, naval projects and joint research.
  • Brazil is evaluating India’s Akash missile system; discussions include joint production and technology transfer.
  • Brazil and India are working on interoperability between India’s UPI and Brazil’s PIX digital payment systems.
  • Brazil has announced a business e-visa for Indian travellers; system launch date not specified.
  • Both governments target direct India-Brazil flights by end-2026.
  • Brazil became the second BRICS member after India to decline joining China’s Belt and Road Initiative.
India and European Union adopt Joint Comprehensive Strategic Agenda at 16th summit (End of January) ▼
  • India and the European Union (EU) endorsed the Joint Comprehensive Strategic Agenda during the 16th India-EU summit held in New Delhi.
  • The agenda covers five pillars: prosperity and sustainability, technology and innovation, security and defence, connectivity and global challenges, and enabling factors such as skills, mobility, business and people-to-people ties.
  • Both sides signed a Memorandum of Understanding (MoU) on Comprehensive Framework on Co-operation on Mobility to boost mobility of Indians to Europe.
  • They agreed to conclude an Investment Protection Agreement to provide high, predictable standards of protection for investors and promote investment in high-growth sectors.
  • An Agreement on Geographical Indications will be concluded to ensure effective protection of iconic products and boost trade opportunities.
  • The Trade and Technology Council (TTC) will expand discussions on economic security to include research security and protection of sensitive technologies.
  • The EU-India Semiconductor Memorandum of Understanding will be implemented to strengthen supply chains and promote collaboration in chip design, heterogeneous integration, sustainable semiconductor technologies and manufacturing technology development.
  • An EU-India Business Forum will be established to meet regularly and provide business perspectives to inform policymaking across TTC work strands.
  • India-EU Clean Energy and Climate Partnership cooperation will cover energy technologies, smart grids, storage, electricity sector regulation and energy and climate diplomacy.
  • Collaborative research will focus on artificial intelligence (AI), quantum technologies, advanced semiconductors, clean tech and biotech under the technology and innovation pillar.
  • India-EU Innovation Hubs will be set up to support dialogue, knowledge exchange and joint projects in critical emerging technologies.
  • An India-EU Startup Partnership will be established to deepen cooperation in innovation.
  • Cooperation on peaceful uses of nuclear energy will be promoted under the India-Euratom agreement.
  • Under the security and defence pillar, both sides will consult on respective initiatives, exchange on defence industry-related matters and explore cooperation aligned with mutual security priorities.

United Nations observes World Interfaith Harmony Week from 1 to 7 February 2026

[United Nations (UN)]

Key Updates:

  • The World Interfaith Harmony Week is observed globally every year from 1 February to 7 February.
  • The week was designated by the United Nations (UN) to celebrate cooperation, understanding, and goodwill among people of all faiths and belief systems.
  • The Global Peace Foundation (GPF) organised an Interfaith Conclave in India as part of its initiatives to foster understanding and social cohesion.
  • The GPF conducted interfaith dialogues and service projects in Nigeria to promote the philosophy of One Family Under God.
  • The observance encourages activities that foster dialogue, collaborative action, and mutual respect among individuals of different traditions.
  • The initiative aims to build bridges of understanding across families, schools, workplaces, and neighbourhoods to create resilient societies.

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International Day of Human Fraternity observed on 4 February 2026 (Start of February) ▼
  • International Day of Human Fraternity is observed on 4 February 2026.
  • The 2026 message was delivered by the UN Secretary-General.
  • The day celebrates equality, dignity and mutual understanding.
  • The Human Fraternity for World Peace and Living Together declaration was co-authored by His Holiness Pope Francis and His Eminence the Grand Imam of Al-Azhar Sheikh Ahmed El-Tayeb.
World Quality Week 2025 observed from November 10–14 with the theme “Quality: Think Differently.” (Mid of November) ▼
  • The University of the West Indies UWI Five Islands Campus will join the global celebration of World Quality Week from November 10–14, 2025, under the theme “Quality: Think Differently.”
  • The World Quality Week initiative is led by the Chartered Quality Institute.
  • The initiative aims to promote continual improvement and raise awareness of quality management across education and other sectors.
International Day for Tolerance observed on November 16 annually (Mid of November) ▼
  • International Day for Tolerance is observed annually on November 16.
  • In 1995, UNESCO adopted the UNESCO Declaration of Principles on Tolerance.
  • The UN General Assembly (UNGA) invited UN member states to observe the International Day for Tolerance on November 16 the following year.
  • The International Day for Tolerance reminds the world to embrace diversity, reject discrimination, and promote peace, compassion, education, and peaceful coexistence for all.
  • To highlight the cause of peaceful coexistence and non-violence, the UN established in 1995, the UNESCO-Madanjeet Singh Prize for the Promotion of Tolerance and Non-Violence.
  • This award is given to people who promote a spirit of non-violence and tolerance, in scientific, artistic, cultural and communication fields.
  • Madanjeet Singh, born in 1924, at Lahore, devoted his life to creating communal harmony and peace and was even made the UNESCO Goodwill Ambassador.
India Reaffirms Vasudhaiva Kutumbakam at 11th United Nations Alliance of Civilizations (UNAOC) Forum in Riyadh on December 14-15, 2025 (Mid of December) ▼
  • India reaffirmed its commitment to the ideals of Vasudhaiva Kutumbakam and religious harmony at the 11th United Nations Alliance of Civilizations (UNAOC) forum.
  • The Indian delegation was led by P Kumaran, Secretary (East) of the Ministry of External Affairs (MEA).
  • The forum was hosted by Saudi Arabia in Riyadh from December 14 to 15, 2025.
  • The Indian representative highlighted the nation's civilizational heritage and the long-standing belief in Sarva Dharma Samabhav, which stresses equal respect for all faiths.
  • The gathering marked two decades of the UNAOC and brought together political leaders, religious representatives, civil society, youth, and media to address global divisions.

Defence Research and Development Organisation (DRDO) successfully tests Solid Fuel Ducted Ramjet (SFDR) technology

[Defence Research and Development Organisation (DRDO)]

Key Updates:

  • The Defence Research and Development Organisation (DRDO) successfully demonstrated the Solid Fuel Ducted Ramjet (SFDR) technology from the Integrated Test Range (ITR), Chandipur, off the coast of Odisha.
  • The SFDR technology was developed by the Defence Research and Development Laboratory (DRDL), Hyderabad, in collaboration with the Research Centre Imarat (RCI), Hyderabad, and the High Energy Materials Research Laboratory (HEMRL), Pune.
  • The SFDR is an advanced air-breathing propulsion system where a solid fuel gas generator produces fuel-rich gases that mix with incoming air and burn in a ramjet combustor.
  • The system relies on high forward speed to compress incoming air, eliminating the need for a compressor and enabling efficient high-speed flight at supersonic speeds.
  • Unlike conventional rockets, the SFDR does not carry an oxidiser, which makes the propulsion system lighter and more efficient for long-range air-to-air missiles.
  • The flight test validated several subsystems including a nozzle-less booster, the SFDR motor, and a fuel flow controller after being initially propelled by a ground booster motor.
  • The technology provides sustained thrust over a longer duration and allows for thrust modulation during flight to intercept aerial threats at very long ranges.
  • The use of solid fuel instead of liquid fuel in the SFDR system makes it simpler, safer, and easier to store and transport.

Similar Coverage

Defence Research and Development Organisation (DRDO) successfully tests Solid Fuel Ducted Ramjet (SFDR) technology (Start of February) ▼
  • The Defence Research and Development Organisation (DRDO) successfully demonstrated the Solid Fuel Ducted Ramjet (SFDR) technology from the Integrated Test Range (ITR), Chandipur off the coast of Odisha on February 3, 2026.
  • The SFDR was developed by the Defence Research and Development Laboratory (DRDL), Hyderabad, in collaboration with the Research Centre Imarat (RCI), Hyderabad, and the High Energy Materials Research Laboratory (HEMRL), Pune.
  • The SFDR is an advanced air-breathing propulsion system where a solid fuel gas generator produces fuel-rich gases that mix with incoming air and burn in a ramjet combustor.
  • Unlike conventional rockets, the SFDR does not carry an oxidiser, making the system lighter and more efficient while providing sustained thrust and thrust modulation during flight.
  • The flight test validated several subsystems including a nozzle-less booster, SFDR motor, and fuel flow controller after the system was initially propelled by a ground booster motor to the desired Mach number.
  • The technology is critical for the development of long-range air-to-air missiles capable of intercepting aerial threats at supersonic speeds over very long ranges.
  • The use of solid fuel instead of liquid fuel in the SFDR system makes it simpler, safer, and easier to store and transport.
Defence Research and Development Organisation (DRDO) debuts Long Range Anti-Ship Hypersonic Missile (LR-AShM) at 77th Republic Day Parade (End of January) ▼
  • The Defence Research and Development Organisation (DRDO) displayed the Long Range Anti-Ship Hypersonic Missile (LR-AShM) for the first time at the 77th Republic Day Parade on Kartavya Path.
  • The LR-AShM is designed to meet the coastal battery requirements of the Indian Navy and can engage static and moving targets within a range of around 1,500 kilometers.
  • The missile follows a quasi-ballistic trajectory, starts at hypersonic speed of Mach 10, maintains an average speed of Mach 5, and uses a two-stage solid propulsion rocket motor system.
  • After Stage-II burnout, the vehicle performs an unpowered glide with manoeuvres in the atmosphere, making detection by enemy radars difficult due to low-altitude, high-speed flight.
  • Versions with ranges up to 3,500 kilometers are under development and the missile is expected to be inducted into the Indian Navy in two to three years.
  • The LR-AShM draws key components from the submarine-launched ballistic missile Sagarika (K-15) and the Brahmos supersonic cruise missile.
  • DRDO successfully tested the missile on 16 November 2024 from Dr APJ Abdul Kalam Island off the coast of Odisha.
  • DRDO also achieved a ground test run of over 12 minutes with its Actively Cooled Scramjet Full Scale Combustor earlier this month, building on a subscale test of more than 1,000 seconds conducted on 25 April last year.
  • In September 2020, DRDO demonstrated hypersonic air-breathing scramjet technology with the Hypersonic Technology Demonstration Vehicle flight test from Dr APJ Abdul Kalam Launch Complex.
Defence Research and Development Organisation successfully flight-tests man portable anti-tank guided missile (Mid of January) ▼
  • The third generation fire and forget man portable anti-tank guided missile (MPATGM) with top attack capability was flight-tested successfully against a moving target in KK Ranges, Ahilya Nagar.
  • The test-firing was carried out by the Defence Research and Development Organisation (DRDO).
  • The warhead is capable of defeating modern main battle tanks.
  • The missile can be launched from a tripod or military vehicle launcher.
  • Defence Minister Rajnath Singh has complimented the DRDO and the industry partners for the successful test-firing of the missile.
Samir V Kamat addressed scientists as Chairman of Defence Research and Development Organisation (Start of January) ▼
  • Samir V Kamat delivered the main address at DRDO Bhawan on the organisation’s 68th Foundation Day.
  • He highlighted that 22 Acceptances of Necessity were approved by the Defence Acquisition Council and the Services Procurement Board during 2025.
  • He urged DRDO scientists to intensify research in cyber security, space technologies, artificial intelligence, and electronic warfare.

Indian Institute of Management, Udaipur (IIMU) Hosts Third Edition of D'Future India Digital Conclave 2026

[Indian Institute of Management, Udaipur (IIMU)]

Key Updates:

  • The Indian Institute of Management, Udaipur (IIMU) successfully hosted the third edition of the D'Future: India Digital Conclave at the T-Hub in Hyderabad.
  • The conclave focused on technology-led growth, resilient systems, and building an inclusive nation through digital technologies.
  • Shri Jayesh Ranjan, Special Chief Secretary of the Government of Telangana, highlighted the state's commitment to digitising governance, including providing optical fibre connectivity to households.
  • Prof. Ramayya Krishnan from Carnegie Mellon University discussed the role of Artificial Intelligence (AI) in healthcare applications and the importance of AI governance.
  • Kamlesh Gosai, Executive Director at the Ministry of Railways, shared insights into the GatiShakti programme and the Tech Vision 2035 roadmap for integrated infrastructure planning.
  • The event featured student-led innovations from the IIMU 1-Year MBA (GSCM) programme, including AI-powered inventory management and demand forecasting tools.
  • Start-up companies presented pitches in advanced fields such as quantum computing, high-speed devices, low-cost sustained energy systems, and rocket launching.
  • Viren Rasquinha, CEO of Olympic Gold Quest, discussed the increasing role of data analytics and wearable devices in enhancing sports performance.

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GatiShakti programme and Tech Vision 2035 roadmap presented at India Digital Conclave 2026 (Start of February) ▼
  • Kamlesh Gosai, Executive Director - Traffic Commercial (General), Ministry of Railways, shared insights into the GatiShakti programme and the Tech Vision 2035 roadmap at the India Digital Conclave 2026.
  • The initiatives highlight integrated infrastructure planning, ambitious connectivity goals, AI-enabled optimization of freight and passenger movement, and reduced logistics costs.
  • Digital planning tools are used to accelerate execution across rail, road, and waterways.
ASEAN and India reaffirm shared commitment to strengthen regional digital cooperation (Mid of January) ▼
  • The 6th ASEAN-India Digital Ministers Meeting was held virtually under the theme Adaptive ASEAN: From Connectivity to Connected Intelligence.
  • The meeting was co-chaired by Telecom Secretary Amit Agrawal and Vietnam’s Minister of Science and Technology Nguyen Manh Hung.
  • The ASEAN-India Digital Work Plan 2026 was approved, covering ICT training, the India-ASEAN Regulators’ Conference and telecom ICT solutions deployment.
  • A special ASEAN-India Fund for the Digital Future was operationalised.
  • India highlighted its Digital Public Infrastructure such as Aadhaar, UPI and DigiLocker, and the Sanchar Saathi initiative for telecom user protection and fraud prevention.
  • India underlined cooperation in Artificial Intelligence through the IndiaAI Mission, emphasising safe and trusted AI.
IndiaAI Impact Summit 2026 to spotlight population-scale AI deployment and governance (Start of February) ▼
  • The IndiaAI Impact Summit 2026 will be held in New Delhi and positions India as a leader in real-world AI deployment rather than model development.
  • Abhishek Singh, Additional Secretary, Ministry of Electronics and Information Technology (MeitY), CEO of IndiaAI Mission, and Director General of National Informatics Centre (NIC), oversees the summit.
  • GPUs under the IndiaAI Mission are available at ₹65 per GPU hour to democratise access to high-performance computing.
  • About twelve foundational models are under development and some will be launched ahead of the summit.
  • The Bhashini initiative provides speech-to-speech and speech-to-text APIs to address India’s linguistic diversity.
  • The summit features flagship challenges AI for All, AI for Her, and YUVAi, with participation from 136 countries.
  • YUVAi programme has reached nearly 100,000 students within two weeks and targets over one million learners by the summit.
  • Stanford AI Index ranked India as the third-largest AI ecosystem globally, up from seventh two years earlier.
  • Global firms Nvidia, Google, OpenAI, Anthropic, Qualcomm, Intel, and Schneider Electric, plus academics from Stanford, will attend the summit.
  • NIC is deploying AI in judicial systems, agriculture, healthcare, and education integrated with India’s digital public infrastructure.
Election Commission of India (ECI) to host inaugural India International Conference on Democracy and Election Management (IICDEM) 2026 from January 21 to 23, 2026 (End of January) ▼
  • The Election Commission of India (ECI) will host the inaugural India International Conference on Democracy and Election Management (IICDEM) 2026 from January 21 to 23, 2026, at Bharat Mandapam in New Delhi.
  • The theme for the conference is ‘Democracy for an inclusive, peaceful, resilient, and sustainable world’.
  • The 3-day international conference is being organised by the India International Institute of Democracy and Election Management (IIIDEM) under the aegis of the ECI.
  • Almost three dozen member states of the International Institute for Democracy and Electoral Assistance (International IDEA) will participate, including the United States (US), Mauritius, Brazil, and South Africa.
  • The event will feature 42 Election Management Bodies (EMBs) from across the world and more than 90 international delegates.
  • The summit will include 36 thematic groups covering 11 modern international electoral standards and 25 best practices, including the use of Artificial Intelligence (AI) in elections.
  • Chief Election Commissioner Gyanesh Kumar, along with Election Commissioners Dr Sukhbir Singh Sandhu and Dr Vivek Joshi, will hold over 40 bilateral meetings with international delegates.

Mumbai-Ahmedabad Bullet Train achieves second mountain tunnel breakthrough in Palghar using NATM

Key Updates:

  • The Mumbai-Ahmedabad bullet train project achieved its second mountain tunnel breakthrough with completion of tunnel MT-6 in Palghar district, Maharashtra.
  • Tunnel MT-6 is 454 metres long and 14.4 metres wide, designed to accommodate both up and down tracks.
  • The breakthrough follows the first mountain tunnel breakthrough of MT-5 near Saphale on January 2, both completed within one month.
  • The New Austrian Tunnelling Method (NATM), a drill-and-controlled blast technique, was used to excavate MT-6 from both ends.
  • Union Railway Minister Ashwini Vaishnaw stated that seven new high-speed rail corridors have been announced in the Union Budget.
  • Rs 16,000 crores worth of work is underway for the Mumbai suburban network and the budget for Maharashtra railway is Rs 23,926 crore.

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Kaziranga Elevated Corridor Launched with ₹6,957-Crore Outlay (Mid of January) ▼
  • Prime Minister Narendra Modi laid the foundation stone for the Rs 6,957-crore Kaziranga Elevated Corridor in Assam.
  • The corridor is aimed at ensuring safe wildlife movement across the Kaziranga National Park and Tiger Reserve and reducing road accidents on National Highway-715.
  • The project is intended to boost ecotourism while generating local employment opportunities.
  • Two Amrit Bharat trains were virtually flagged off in the Nagaon district of Assam.
  • The foundation stone for the project was laid on 18 Jan 2026.
PM-DevINE scheme and Ashtalakshmi vision drive ₹365 crore projects in Tripura (End of January) ▼
  • Union Minister Jyotiraditya Scindia laid the foundation stone for eight development projects worth ₹365 crore in Tripura.
  • Five completed projects worth ₹270 crore were inaugurated, including the 13.775 km Jatanbari-Mandirghat via Tirathmukh Road and the 28.90 km improvement of KA Road from Erarpar to Ambassa.
  • The 8.00 km Gandacherra-Raishyabari-Narikel Kunja Road will connect tribal habitations to district headquarters.
  • The Amarpur (Fatiksagar) to Chabimura connectivity project will boost Tripura’s heritage and tourism potential.
  • Under the PM-DevINE scheme, a Solar Micro Grid project will provide clean electricity in remote areas to strengthen education, healthcare and livelihoods.
  • Foundation stones were laid for three new road projects costing ₹95 crore: Kowaifung (Panjirai) to Karbook Road (9.10 km), Jampui (PMGSY Point) to Kangrai Road, and Burighat to Sermun-II Road.
  • Over the last 12 years, the Central Government has invested more than ₹6.5 lakh crore in the Northeast, with every Central Ministry spending 10 per cent of its budget in the Northeastern States.
India dedicates 125 Border Roads Organisation projects to strengthen border infrastructure (Start of December) ▼
  • Defence Minister Rajnath Singh dedicated 125 newly completed projects of Border Roads Organisation (BRO) to the nation from Leh.
  • The projects — built at a cost of Rs 5,000 crore — comprise 28 roads, 93 bridges and four miscellaneous structures across Ladakh, Jammu and Kashmir, Arunachal Pradesh, Sikkim, Himachal Pradesh, Uttarakhand, Rajasthan, West Bengal and Mizoram.
  • The event marked the largest single-day and highest-value inauguration in BRO history.
  • The 920-metre Shyok Tunnel on the Darbuk-Shyok-Daulat Beg Oldi Road in Ladakh is highlighted as an engineering marvel providing all-weather connectivity to a critical military terrain.
  • Singh stated: "These infrastructure projects are the nation's tribute to those heroes who laid down their lives in the service of the nation."
  • He emphasised: "Enhanced road networks, real-time communication systems and satellite-based surveillance are now allowing Indian soldiers to operate with greater speed and precision in forward areas."
  • The defence minister noted that stronger border connectivity stabilises local economies, enhances disaster response and strengthens people’s faith in governance in remote regions.
MoRTH targets awarding 10,000 km of NH projects in FY 2026 (Mid of November) ▼
  • Implementing Ministry: Ministry of Road Transport and Highways (MoRTH) and National Highways Authority of India (NHAI)
  • Objective: Award 10,000 km of National Highway projects in FY 2026, up from 6,000 km awarded in FY 2025
  • Key procedural reform: 90% land acquisition must be completed before awarding projects under BOT/HAM modes, mirroring EPC requirement
  • Financial outlay: MoRTH received ₹2,87,333 crore in Union Budget 2025-26, with ₹2.72 lakh crore as capital expenditure

NTPC Green Energy Limited (NGEL) and Assago Industries sign MoU for India’s first large-scale green urea ecosystem at Pudimadaka hub

[NTPC Green Energy Limited (NGEL), Assago Industries]

Key Updates:

  • NTPC Green Energy Limited (NGEL) and Assago Industries Pvt. Ltd. signed an MoU to develop India’s first large-scale green urea production ecosystem at the upcoming Green Hydrogen Hub in Pudimadaka.
  • NGEL will supply green ammonia, captured CO₂, renewable power and utilities to Assago for producing green urea using clean feedstock.
  • The Pudimadaka Green Hydrogen Hub is planned with a capacity of 2.5 million tonnes per annum of green chemicals, including green methanol, green ammonia, sustainable aviation fuel and green urea.
  • India consumes about 35–40 million tonnes of urea annually and imports 8–10 million tonnes each year.
  • The collaboration targets import substitution and low-carbon fertiliser production to support the Atmanirbhar Bharat objective.

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Ministry of Development of North Eastern Region (MDoNER) Launches Bamboo Projects with Rs 82.5 Crore Outlay (End of January) ▼
  • The Ministry of Development of North Eastern Region (MDoNER) launched two major bamboo sector projects with a combined outlay of Rs 82.5 crore in Guwahati.
  • The initiatives are being implemented by the North East Cane and Bamboo Development Council (NECBDC) in collaboration with the North Eastern Council (NEC).
  • The first project, Strengthening Traditional Bamboo Artisan Clusters, aims to revitalise artisan clusters across all eight North Eastern States, benefiting over 4,500 artisans.
  • MDoNER signed Memorandums of Understanding (MoUs) with Amazon India and Flipkart to provide digital market access and capacity building for artisan groups.
  • The second project, Promotion of Engineered Bamboo Products, focuses on industrial-scale manufacturing in Karbi Anglong (Assam) and Mokokchung (Nagaland).
  • The second initiative includes the development of 1,000 hectares of certified bamboo plantations and the training of 1,000 youth and artisans in advanced processing.
  • An MoU was signed with All Time Plastics (ATP) Ltd. to support product development, industrial applications, and sales promotion for engineered bamboo products.
  • The projects were inaugurated by Jyotiraditya M. Scindia, the Union Minister for Development of North Eastern Region.
Uralchem JSC signs MoU with Rashtriya Chemicals and Fertilizers Limited, National Fertilizers Limited, and Indian Potash Limited to build major urea plant in Russia (Start of December) ▼
  • Uralchem JSC has signed a memorandum of understanding with Rashtriya Chemicals and Fertilizers Limited (RCF), National Fertilizers Limited (NFL), and Indian Potash Limited (IPL) to establish a joint venture for constructing a urea plant in Russia.
  • The planned urea plant is expected to have an annual production capacity of 1.8 to 2 million tonnes.
  • The joint venture will be based on the supply of ammonia produced by Togliattiazot JSC, with the Indian companies providing financing for the project until its commercial operation begins.
  • The signing ceremony took place in New Delhi, India.
  • Uralchem Group’s key assets include Uralchem JSC, Uralkali PJSC, and TOAZ JSC, all based in Russia, with a combined production capacity of around 25 million tonnes.
AVFCCL Brownfield Ammonia-Urea Plant: ₹10,601 crore outlay to produce 12.7 lakh MT urea annually (End of December) ▼
  • The Union Cabinet approved a new brownfield ammonia-urea plant of Assam Valley Fertiliser and Chemical Company Ltd (AVFCCL) within the existing premises of Brahmaputra Valley Fertiliser Corp Ltd (BVFCL) in Namrup, Dibrugarh district, Assam.
  • The project cost is ₹10,601 crore and the plant is scheduled to be commissioned in 2030 with an annual urea production capacity of 12.7 lakh metric tonnes.
  • AVFCCL is a joint venture among the Assam government, Oil India, National Fertilisers Ltd (NFL), Hindustan Urvarak & Rasayan Ltd (HURL) and BVFCL.
Namrup-IV Ammonia-Urea Project: Rs 10,000 crore fertiliser plant to produce 12 lakh metric tonnes of urea annually (Mid of December) ▼
  • Prime Minister Narendra Modi will lay the foundation stone for the Namrup-IV Ammonia-Urea project at the existing Brahmaputra Valley Fertilizer Corporation Limited complex.
  • The brownfield fertiliser project involves an estimated investment of Rs 10,000 crore.
  • The Namrup-IV plant will produce 12 lakh metric tonnes of urea annually, meeting domestic demand and enabling exports.

India announces squads for 2026 Badminton Asia Team Championships

Key Updates:

  • The 2026 Badminton Asia Team Championships (BATC) will be held in Qingdao, China, from 4 February to 8 February 2026.
  • Lakshya Sen, the World number 13, will lead the Indian men's team which includes HS Prannoy, Kidambi Srikanth, Ayush Shetty, and Tharun Mannepalli.
  • The Indian men's doubles contingent features Satwiksairaj Rankireddy, Chirag Shetty, Pruthvi Krishnamurthy Roy, Sai Pratheek K, and Hariharan Amsakarunan.
  • The Indian women's team will defend their title without PV Sindhu, who withdrew due to medical concerns as confirmed by the Badminton Association of India (BAI).
  • The women's singles squad consists of Unnati Hooda, Tanvi Sharma, Rakshitha Sree Santhosh Ramraj, Malvika Bansod, and Surya Charisma Tamiri.
  • The women's doubles team includes Treesa Jolly, Gayatri Gopichand, Priya Konjengbam, Shruti Mishra, and Tanisha Crasto.
  • The Indian men's team is placed in Group C alongside Singapore and Japan, while the women's team is in Group Y with Myanmar and Thailand.
  • The tournament format allows the top two teams from each group to progress to the quarterfinals of the biennial continental event.
  • The event will be live-streamed on the Sony Sports Network and the official YouTube channel of Badminton Asia.

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India participates in 2026 Badminton Asia Team Championships (Start of February) ▼
  • The 2026 Badminton Asia Team Championships (BATC) is a biennial continental event scheduled to be held in Qingdao, China.
  • The Badminton Association of India (BAI) confirmed that PV Sindhu withdrew from the women's team due to medical concerns.
  • The Indian women's team is the defending champion, having won the gold medal in the previous edition of the BATC held in Malaysia.
  • India's women's team is placed in Group Y alongside Myanmar and Thailand, while the men's team is in Group C with Singapore and Japan.
  • The men's squad includes Lakshya Sen, Ayush Shetty, Kidambi Srikanth, HS Prannoy, Tharun Mannepalli, Satwiksairaj Rankireddy, Chirag Shetty, Pruthvi Krishnamurthy Roy, Sai Pratheek K, and Hariharan Amsakarunan.
  • The women's squad features Unnati Hooda, Tanvi Sharma, Rakshitha Sree Santhosh Ramraj, Malvika Bansod, Surya Charisma Tamiri, Treesa Jolly, Gayatri Gopichand, Priya Konjengbam, Shruti Mishra, and Tanisha Crasto.
  • The tournament matches will be live-streamed on the Sony Sports Network and the official YouTube channel of Badminton Asia.
Zheng/Huang defeats Kim/Jeong to win Paris 2024 Mixed Doubles Gold (End of December) ▼
  • The Badminton World Federation (BWF) World Tour Finals 2025 will be held in Hangzhou, People's Republic of China, from 17-21 December 2025.
  • The series finale features the top eight eligible players or pairs in the BWF World Ranking across five categories including singles and doubles.
  • In the women's singles, World No.1 and Paris 2024 Olympic champion An Se Young is aiming for a record 11th title.
  • The 2025 world gold and silver medallists in men's singles, Shi Yu Qi of China and Thailand's Kunlavut Vitidsarn, are participants in the tournament.
  • In the Paris 2024 Mixed Doubles Finals, Zheng/Huang claimed the gold medal with a 2:0 victory over Kim/Jeong.
Australian Open Badminton 2025 set to feature top global talent (End of November) ▼
  • The Australian Open Badminton 2025 is scheduled to take place from July 1-6, 2025, at the Melbourne Sports and Aquatic Centre.
  • The tournament will include men's and women's singles, doubles, and mixed doubles competitions.
  • Athletes such as Kento Momota, PV Sindhu, and Chen Long are anticipated to compete.
Tai Tzu Ying announces retirement from badminton (Mid of November) ▼
  • Tai Tzu Ying of Chinese Taipei announced her retirement from international badminton.
  • She ends her career with 17 BWF World Tour titles and 12 runner-up finishes.
  • Her last title win came at the India Open 2024.
  • She won a silver medal at the Tokyo Olympics and two World Championships medals (silver in 2021, bronze in 2022).
  • She also claimed an Asian Games gold in 2018 and three Asian Championships titles.
  • PV Sindhu paid tribute, noting they faced each other 24 times, with Tai winning 19 of those matches.

Swachhata Pakhwada Awards 2025 presented on Feb 3

Key Updates:

  • Paradip Port Authority (PPA) won the First Prize at Swachhata Pakhwada Awards 2025 instituted by Ministry of Ports, Shipping and Waterways (MoPSW).
  • The awards evaluate ports and maritime institutions nationwide on cleanliness drives, waste management, green initiatives, and public involvement.
  • PPA implemented three core pillars of Swachhata Pakhwada 2025: Jan Bhagidari, Ek Ped Maa Ke Naam, and Safai Mitra Suraksha.
  • Under Ek Ped Maa Ke Naam 2.0, 40,000 saplings were planted at Paradip Sea Beach to mark Prime Minister Narendra Modi's birthday.
  • Union Minister Sarbananda Sonowal and Union Minister of State Shantanu Thakur presented the award in New Delhi.
  • P. L. Haranadh, Chairman of Paradip Port Authority, received the honour on behalf of the port team.

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Assam Petro-Chemicals Ltd (APL) and Deendayal Port Authority (DPA) sign MoU for ₹1,200 Crore e-Methanol plant (End of January) ▼
  • Assam Petro-Chemicals Ltd (APL) and Deendayal Port Authority (DPA) signed a Memorandum of Understanding (MoU) to establish a 150 Tonnes Per Day (TPD) e-Methanol plant at Kandla Port in Gujarat.
  • The project involves a capital investment of more than ₹1,200 crores and is expected to generate approximately 3,500 direct and indirect employment opportunities.
  • Under the agreement, DPA will provide pipeline connectivity, storage, and fuel-handling infrastructure, while APL will establish the green methanol production facility within the port area.
  • The plant will produce e-methanol using green hydrogen and captured carbon dioxide powered by renewable electricity to support India’s Maritime Decarbonisation roadmap.
  • Kandla Port is being developed as a Green Hydrogen Hub under the National Green Hydrogen Mission, which aims to produce and export 5 million tonnes of green hydrogen over the next 5 to 6 years.
  • The facility is intended to position Kandla Port as a major green fuel supply point for international maritime trade routes, including the Singapore–Rotterdam corridor.
  • The initiative contributes to India’s commitment to achieving net-zero carbon emissions by 2070.
New Mangalore Port Authority Golden Jubilee: Rs 1,500-cr Infrastructure & CSR Projects Unveiled (Mid of November) ▼
  • Implementing Agency: New Mangalore Port Authority (NMPA) under the Union Ministry of Ports, Shipping and Waterways.
  • Financial Outlay: 16 infrastructure and 113 CSR projects collectively valued at Rs 1,500 crore announced during the golden-jubilee celebration.
  • Strategic Objective: Projects align with Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047 to expand India’s maritime infrastructure.
  • Green Initiative: NMPA currently operates on 100% solar power and is transitioning further toward green energy.
  • Future Cargo Target: Port presently handles over 46 million tonnes annually, with plans to double capacity to 100 million tonnes by 2047.
  • Upcoming Investment: India Maritime Week 2025 is expected to bring additional MoUs worth Rs 52,000 crore for the port sector.
Inland Waterways Development Council approves ₹1,500 crore infrastructure push (End of January) ▼
  • The third meeting of the Inland Waterways Development Council (IWDC) held in Kochi approved projects worth more than ₹1,500 crore for expanding India’s inland water transport network.
  • Union Minister of Ports, Shipping and Waterways (MOPSW) Sarbananda Sonowal chaired the meeting attended by state ministers from Himachal Pradesh, Bihar, Nagaland, Arunachal Pradesh, Uttar Pradesh and Punjab.
  • The council approved Ro-Ro and cargo terminals at Muktyala and Harishchandrapuram on the Krishna river in Andhra Pradesh to strengthen cargo movement.
  • Foundation stones were laid for river cruise jetties exceeding ₹150 crore in Kerala, Gujarat, Karnataka, Odisha and Telangana to expand cruise tourism circuits.
Viksit Bharat, Viksit Ports: Union Minister flags off ₹235 crore port infrastructure and digital projects (Start of January) ▼
  • Union Minister for Ports, Shipping and Waterways (MoPSW) Sarbananda Sonowal flagged off the projects during the “Viksit Bharat, Viksit Ports” programme in Chennai.
  • The Centre rolled out port infrastructure and digital governance projects worth ₹235 crore at Chennai Port Authority and Kamarajar Port Limited, aimed at improving safety, resilience and port operations ('The Centre on Thursday rolled out port infrastructure and digital governance projects worth ₹235 crore at Chennai Port Authority and Kamarajar Port Limited').
  • Of the total outlay, ₹129.36 crore has been allocated to projects at Chennai Port Authority, while ₹105.64 crore will support initiatives at Kamarajar Port Limited ('Of the total outlay, ₹129.36 crore has been allocated to projects at Chennai Port Authority, while ₹105.64 crore will support initiatives at Kamarajar Port Limited').
  • The MoPSW launched an e-port clearance portal aligned with the One Nation–One Port Process to allow online submission and issuance of port clearance certificates ('The minister also launched an e-port clearance portal aligned with the One Nation–One Port Process').
  • The MoPSW inaugurated the Enterprise Business System, a SAP-based digital platform developed at a cost of ₹45 crore to integrate finance, port operations, and human resources ('Sonowal also inaugurated the Enterprise Business System, a SAP-based digital platform developed at a cost of ₹45 crore').
  • The projects were officially announced on January 9, 2026, as part of efforts to modernise ports and improve ease of doing business ('Published On Jan 9, 2026 at 08:46 AM IST').

HMG Stones becomes India’s first natural stone company to achieve dual ISO 9001:2015 and 5S Gold Grade certifications

[HMG Stones]

Key Updates:

  • HMG Stone LLP (HMG Stones) has become the first company in India’s natural stone industry to simultaneously secure ISO 9001:2015 and 5S Gold Grade certifications.
  • The ISO 9001:2015 certification for Quality Management System was awarded by M/s TUV India Private Limited, a subsidiary of TUV NORD Germany.
  • The 5S Gold Grade certification for workplace organisation and operational discipline was conferred by ABK-AOTS DOSOKAI, headquartered in Japan.
  • The certifications cover the primary manufacturing units of HMG Stones in Attibele and Yadavanahalli, the Wilson Garden flagship showroom, and the Sankey Road Experience Centre.
  • The Japanese 5S framework implemented by the firm includes the principles of Sort, Set in Order, Shine, Standardise, and Sustain.
  • Operational improvements reported following the certifications include an 80% reduction in tool search time, a 50% reduction in machine downtime, and a 75% reduction in defect rates.
  • Anand Reddy serves as the Founder and Chief Executive Officer (CEO) of the Bengaluru-based natural stone company.

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Jindal Stainless raises Dow Jones Sustainability Index (DJSI) ESG score to 78, ranks among top global steelmakers. (Start of December) ▼
  • Jindal Stainless improved its DJSI ESG score to 78 from 60 in the previous year.
  • The score places Jindal Stainless in the top five per cent of global steel companies assessed.
  • Jindal Stainless ranks fourth within the steel sector and first in the stainless-steel segment.
  • Environmental, Social and Governance scores stand at 83, 73 and 76, respectively.
  • The company recorded a 14 per cent year-on-year reduction in greenhouse gas emissions in FY25.
  • Jindal Stainless received the Golden Peacock Award for Sustainability during the year.
  • The company operates domestic and overseas manufacturing facilities and recorded a turnover of ₹40,182 crore in FY25.
Bakul Limbasiya received APO National Award for pioneering contributions to lab-grown diamond sector (End of January) ▼
  • Bakul Limbasiya, founder of Bhathwari Technologies Pvt. Ltd. (BTPL), was conferred the APO National Award administered by the National Productivity Council (NPC) under the Department for Promotion of Industry and Internal Trade (DPIIT), Government of India.
  • He is credited with producing India’s first-ever lab-grown diamond in 2004 and has been associated with the industry since 1998.
  • BTPL, based in Surat, is one of the world’s leading producers of lab-grown CVD diamond reactors and advanced technologies for lab-grown diamonds.
Hallmark Unique Identification (HUID) System: Strengthening Consumer Trust and India's Quality Ecosystem (Start of January) ▼
  • The Ministry of Consumer Affairs (MoCA) through the Bureau of Indian Standards (BIS) has expanded Hallmark Unique Identification (HUID)-based gold and silver hallmarking, with more than 20 lakh silver articles already hallmarked.
  • India's standards regime has achieved significant global alignment, with about 94% of Indian Standards harmonised with ISO and IEC to help products gain wider acceptance in international markets.
  • BIS standards now cover renewable energy, electric mobility, energy storage and electric agricultural tractors, reflecting India's transition towards clean energy and sustainable growth.
  • The MoCA is focusing on modernising laboratories, expanding digital platforms, and empowering women through initiatives such as Manak Mitra.
  • The implementation of hallmarking has brought a significant change in the bullion market, protecting consumers in rural areas from the sale of substandard gold.
Postgraduate Institute of Medical Education and Research (PGIMER) adjudged India’s Best Health Technology Assessment Institute for second straight year (End of December) ▼
  • PGIMER, Chandigarh, has been recognised as the country’s Best Health Technology Assessment Institute for the second consecutive year by the Union Health Ministry at the ARISE 2025 national conclave.
  • The award was presented by Prof V K Paul, member (health), NITI Aayog, and Dr Rajiv Bahl, director-general, Indian Council of Medical Research (ICMR) and secretary, Department of Health Research (DHR).
  • The HTA Resource Hub at PGIMER’s Department of Community Medicine and School of Public Health, led by Prof Shankar Prinja, anchors the institute’s leadership in HTA.