Feb 3, 2026 Current Affairs

Rajnath Singh

♦ Defence Minister Rajnath Singh has approved the grant of Miniratna Category-I status to Yantra India Limited (YIL), a defence public sector undertaking (DPSU), on 2 February 2026. The Ministry of Defence stated that congratulating YIL on its rapid transition from a government organisation to a profit-making corporate entity within four years. ♦ He Ministry of Defence highlighted that after its inception, YIL has recorded significant growth in sales, rising from over 956 crore rupees in the second half of FY 2021-22 to 3 crore rupees in FY 2024-25. ♦ YIL manufactures key defence products including carbon fibre and glass composites, aluminium alloys, and assembly products for ammunition, armoured vehicles, artillery guns and main battle tanks. With Miniratna-I status, the YIL Board can now incur capital expenditure up to 500 crore rupees without government approval, enabling faster modernisation and growth.

Feb 3, 2026 Current Affairs

The Ministry of Electronics and Information Technology

♦ The Ministry of Electronics and Information Technology (MeitY) and the Directorate-General for Communication Networks, Content and Technology (DG CONNECT) of the European Commission have signed an Administrative Arrangement on Advanced Electronic Signatures. The cooperation will be implemented by MeitY through the Controller of Certifying Authorities (CCA), in line with India’s legal and regulatory framework according to the applicable provisions of the Information Technology Act, 2000 within the established framework regulated by Controller of Certifying Authorities (CCA). ♦ The arrangement provides a framework for cooperation on interoperability of electronic signatures, electronic seals, and Public Key Infrastructure (PKI) systems, consistent with the laws of India and European Union with the aim to strengthen India–EU digital cooperation by promoting the use of secure and trusted electronic signatures and seals in cross-border digital transactions and trade. ♦ Under this cooperation, India and the European Union intend to link their respective trusted lists of recognised service providers thus helping in easier validation of electronic signatures and seals issued in India and the European Union for cross-border use. The arrangement lays the foundation for deeper cooperation in the future.

Feb 3, 2026 Current Affairs

Indian Highways Management Company Limited (IHMCL)

♦ Indian Highways Management Company Limited (IHMCL), a company promoted by NHAI signed a Memorandum of Understanding (MoU) with the National Forensic Sciences University (NFSU) to foster collaboration in the fields of research, training and consultancy, particularly in cyber forensics, digital evidence integrity and advanced technological applications relevant to the National Highway management. The MoU aims to facilitate mutually beneficial academic and research-oriented cooperation between the two government bodies to enhance knowledge creation, technological resilience and institutional capacity building. ♦ The collaboration will contribute towards strengthening cyber security frameworks and forensic reliability in critical National Highway operations and digital platforms. ♦ Under the MoU, NFSU will provide technical guidance and support to IHMCL for the development of laboratories equipped with state-of-the-art technologies, including CCTV, multimedia analysis, audio-video analysis and digital as well as cyber forensics laboratories.

Feb 3, 2026 Current Affairs

Crafoord Prize

♦ Indian-origin climate scientist Veerabhadran Ramanathan has been awarded the 2026 Crafoord Prize in Geosciences by the Royal Swedish Academy of Sciences. Often described as the “Nobel of Geosciences,” the prize recognises Ramanathan's decades of research on super-pollutants and atmospheric brown clouds, which have reshaped understanding of global warming. ♦ Ramanathan made a landmark discovery in 1975 while working at NASA: chlorofluorocarbons (CFCs), widely used in aerosols and refrigeration, trap heat in the atmosphere up to 10,000 times more effectively than carbon dioxide. ♦ Born in Madurai and raised in Chennai, Ramanathan began his career as an engineer in a refrigerator factory in Secunderabad, where he first handled CFCs. ♦ His Indian roots informed his work in the Indian Ocean Experiment (INDOEX), which identified atmospheric brown clouds over South Asia. ♦ The Crafoord Prize carries a cash award of 8 million Swedish kronor (approximately $900,000) and a gold medal. The award will be presented during Crafoord Days in Stockholm and Lund in May 2026.

Feb 3, 2026 Current Affairs

Grammy Award

♦ Dalai Lama was honoured with his first Grammy Award at the age of 90. The Dalai Lama's spoken-word album, Meditations: The Reflections of His Holiness the Dalai Lama, received recognition in the category of Best Audio Book, Narration, and Storytelling Recording at the 68th Annual Grammy Awards. The award spotlights the Dalai Lama's continuing influence on global audiences and his expansion into new creative mediums. ♦ The Grammy Award, considered one of the most prestigious honours in the music industry, reflects the global reach and enduring impact of the Dalai Lama's voice. ♦ The ceremony, held in Los Angeles, was attended by prominent figures from across the entertainment world. ♦ This is not the first time that a person who does not belong to the world of entertainment has received a Grammy. Earlier, Barack Obama won two Grammys for Best Spoken Word Album Dreams from My Father (2006) and The Audacity of Hope (2008). His wife Michelle Obama also won Grammys for Best Spoken Word Album for her memoirs Becoming (2020) and The Light We Carry (2024). ♦ In 2012, Steve Jobs was awarded a posthumous Trustees' Grammy for his contribution to music with the iPod.

Feb 3, 2026 Current Affairs

‘Sri Guru Ravidas Ji’ Airport

♦ Prime Minister Narendra Modi renamed the Adampur airport in Punjab’s Jalandhar district as ‘Sri Guru Ravidas Ji’ Airport and virtually inaugurated the civil terminal building at Halwara Airport in Ludhiana on 1 February 2026. Modi visited ‘Dera Sach Khand Ballan’ at Ballan village on ‘Ravidas Jayanti’ on the occasion of the 649th birth anniversary of Guru Ravidas, the revered saint and social reformer. ♦ Revamped at a cost of Rs.125 crore under the UDAN 5.0 scheme, the Adampur airport serves Punjab’s Doaba region. Located at Jalandhar district headquarters, the airport currently operates two flights — a Star Air service connecting Nanded and Bengaluru via Hindon, and an IndiGo flight to Mumbai.

Feb 3, 2026 Current Affairs

Carlos Alcaraz

♦ Spain’s Carlos Alcaraz won the men’s singles title at the Australian Open 2026 on February 1. He defeated Serbia's Novak Djokovic with 2-6, 6-2, 6-3, 7-5 in the final. ♦ Carlos Alcaraz, all of 22 years and 272 days, became the youngest man to complete a career grand slam. ♦ Djokovic remained on 24 titles — the highest among men and equal with Margaret Court on the all-time list. ♦ By winning the Australian Open, Alcaraz completed the Career Grand Slam, having already won the French Open, Wimbledon and US Open earlier in his career.

Feb 3, 2026 Current Affairs

16th Finance Commission

♦ Finance Minister Nirmala Sitharaman laid the 16th Finance Commission report for tax revenue devolution between Centre and states for the period 2026-2031 in the Lok Sabha on 1 February 2026. The 16th Finance Commission’s recommendations that have been accepted by the government and which, while keeping the share of states the same as in the 15th Finance Commission. It has done so by primarily, introducing the size of a state’s economy as a variable, and altering both the measure and the weightage assigned to demographic performance. ♦ The 16th Finance Commission has recommended retaining states’ share in the divisible pool of central taxes at 41 percent, while pitching for outcome-based spending, greater transparency in tax devolution data and stronger fiscal discipline at the state level. The panel said there is a need to improve efficiency in public spending and strengthen fiscal accountability frameworks across states. ♦ The Finance Commission, established under Article 280 of the Indian Constitution, is a constitutional body that recommends the devolution of tax revenues between the central and state governments. Cess and surcharge levied by the Centre are not part of the divisible pool. ♦ The Finance Commission is a constitutional body that gives suggestions on Centre-state financial relations and is set up periodically. ♦ The 16th Finance Commission, with Dr Arvind Panagariya as Chairman, was set up on December 31, 2023 for the April 2026–March 2031 period.

Feb 3, 2026 Current Affairs

Union Budget 2026-27

Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman presented the Union Budget 2026-27 for the ninth consecutive year in Parliament on 1 February 2026. The budget proposes a grand total expenditure of Rs.53.47 lakh crore, comprising Rs.41.25 lakh crore in revenue expenditure and Rs.12.22 lakh crore in capital expenditure. Ministry-wise allocations.. Finance ministry: The ministry of finance has received the largest allocation of Rs.19.72 lakh crore, including Rs.17.22 lakh crore for revenue expenditure and Rs.2.50 lakh crore for capital expenditure. Defence ministry: The ministry of defence has been allocated Rs.7.85 lakh crore, comprising Rs.5.54 lakh crore in revenue expenditure and Rs.2.31 lakh crore in capital outlay. Ministry of home affairs: The ministry of home affairs received Rs.2.55 lakh crore, including Rs.2.28 lakh crore in revenue expenditure and Rs 0.27 lakh crore in capital spending. Ministry of agriculture and farmers welfare: The ministry of agriculture and farmers welfare has been allocated Rs.1.40 lakh crore. The allocation supports farmer income enhancement, agri-tech initiatives such as Bharat-VISTAAR, crop diversification, allied activities and rural livelihoods. Ministry of consumer affairs, food and public distribution: With an allocation of Rs.2.39 lakh crore, the ministry remains one of the largest social-sector spenders. The funding, largely revenue expenditure, supports food subsidies, procurement, storage and distribution under the public distribution system. Ministry of rural development: The ministry of rural development has been allotted Rs.1.97 lakh crore, supporting flagship schemes such as rural housing and livelihood programmes. Ministry of jal shakti: The ministry of jal shakti received Rs.94,80 crore, supporting drinking water supply, sanitation and irrigation projects. Ministry of education: The ministry of education has been allocated Rs.1.39 lakh crore, largely for revenue expenditure on schools, higher education, research and capacity building, including initiatives for girls’ hostels and STEM education. Ministry of health and family welfare: The ministry of health and family welfare received Rs.1.07 lakh crore, supporting healthcare delivery systems, institutions and public health infrastructure. Ministry of road transport and highways: The ministry of road transport and highways has been allocated Rs.3.10 lakh crore, with the bulk of the spending directed towards capital expenditure, underlining the continued push for highways, logistics efficiency and connectivity. Ministry of railways: The ministry of railways received Rs.2.81 lakh crore, largely for capital outlay to support network expansion, station redevelopment and modernisation. Ministry of housing and urban affairs: The ministry of housing and urban affairs has been allotted Rs.85,522 crore, supporting urban transport, housing, sanitation and city infrastructure. Ministry of chemicals and fertilisers: The ministry of chemicals and fertilisers received Rs.1.77 lakh crore, largely towards fertiliser subsidies and support to farmers. Power and renewable energy: The ministry of power was allocated Rs.29,996 crore, while the ministry of new and renewable energy received Rs 32,914 crore, supporting energy security and clean power transition. Electronics and information technology: The ministry of electronics and Information Technology has been allocated Rs.21,632crore, supporting digital public infrastructure, electronics manufacturing and technology-driven governance. Commerce and industry: The ministry of commerce and industry received Rs.17,843 crore, aligning with export promotion, industrial growth and manufacturing support. Other ministries.. The ministry of women and child development has been allocated Rs.28,183 crore, supporting programmes related to nutrition, maternal and child welfare, and women’s empowerment. The ministry of tribal affairs received Rs.15,421 crore to strengthen education, livelihoods and welfare initiatives for tribal communities, while the ministry of social justice and empowerment was also allotted Rs.15,357 crore. The ministry of youth afairs and sports received Rs.4,479 crore, while the ministry of skill development and entrepreneurship was allocated Rs.9,885 crore, supporting skilling, employability and youth-focused programmes.

Feb 3, 2026 Current Affairs

Sunetra Pawar

♦ Sunetra Pawar was sworn in as the first woman deputy chief minister of Maharashtra on 31 January 2026. She replaced her husband Ajit Pawar just three days after his death in an air crash. ♦ Sunetra Pawar has been given charge of excise duty, sports and youth welfare, and minorities development. Finance and planning, the portfolios handled by her husband, will be handled by Chief Minister Devendra Fadnavis. ♦ She was unanimously elected as the NCP Legislature Party leader.

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