Daily current affairs: 1 March 2026

Long Description : India remains the fastest-growing major economy, with real GDP growth for the October–December quarter (Q3) of 2025–26 reaching 7.8%, surpassing expectations. MoSPI introduced a new series of national accounts, revising the base year to 2022–23 to better reflect contemporary economic structures, including the gig economy and digital services. Full-year growth for FY 2025–26 is now projected at 7.6%, up from the previous estimate of 7.4%. The manufacturing sector showed double-digit growth, while the services sector recorded over 9% growth, signaling a broad-based economic recovery despite global headwinds.

Long Description : The Central Board of Indirect Taxes and Customs (CBIC) reported that GST collections hit ₹1,83,000 crore in February 2026. This growth is attributed to "GST 2.0" reforms and increased compliance. Domestic GST revenue grew by 5.3%, while revenue from imports saw a sharp 17.2% rise, indicating strong cross-border trade activity. After adjusting for refunds of ₹22,595 crore, the net GST revenue stood at ₹1.61 lakh crore. States like Maharashtra, Karnataka, and Gujarat remained the top contributors, while smaller states showed varying trends in post-settlement revenues.

Long Description : Following the confirmation of Iranian Supreme Leader Ayatollah Ali Khamenei's death in a joint US-Israeli "Operation Epic Fury," PM Modi is set to chair a CCS meeting. The high-level body, including the Ministers of Defence, Home, External Affairs, and Finance, will discuss the impact on global oil prices, the safety of the Indian diaspora in the Middle East, and maritime security in the Persian Gulf. India has expressed concern over the escalating regional conflict, which saw drones and missiles fired across multiple borders, disrupting international flight services and trade routes.

Long Description : The Unified Payments Interface (UPI) continues its exponential growth, processing over 20 billion transactions in a single month for the first time in February 2026. The surge is driven by deep penetration in rural areas and the integration of UPI with credit cards and international payment gateways. Monthly value also saw a significant rise, cementing India's position as a global leader in real-time digital payments. Analysts suggest that the "UPI-Lite" and offline payment features have significantly contributed to small-ticket transaction volumes, furthering the goal of a less-cash economy.

Long Description : During a two-day tour of Southern India, the PM launched several key initiatives under the Smart Cities Mission and PM Gati Shakti. In Madurai, the projects included new flyovers, water supply schemes, and the redevelopment of the railway station to handle increased pilgrim traffic. In Puducherry, the focus was on healthcare infrastructure and port development. The PM emphasized that these investments would improve the "Ease of Living" and boost local tourism. He also offered prayers at the Arulmigu Subramaniyaswamy Temple in Thirupparankundram during the visit.

Long Description : The government released a comprehensive report on India's transformation into a "Global Health Powerhouse." Key takeaways include the success of Ayushman Bharat, which has issued 863 million digital health IDs, and the expansion of the primary healthcare network to 184,000 centres. India's pharmaceutical sector is now the world's third-largest by volume, providing 20% of global generic medicines. The report also highlights the growth of medical tourism, which saw 600,000 arrivals in 2024, and the new Budget 2026 goal of establishing five integrated medical centres for advanced diagnostics.

Long Description : This new facility allows certain classes of importers to pay customs duty on a deferred basis rather than at the time of clearance. Aimed at improving the cash flow of domestic manufacturers, the scheme is available to Authorised Economic Operators (AEOs) and specific sectors identified by the government. The CBIC stated that this move reduces the "compliance burden" and facilitates faster clearance of capital goods and raw materials. This is a significant step in the "Ease of Doing Business" framework, helping Indian industries integrate better with global value chains.

Long Description : This state-of-the-art facility at the Rajiv Gandhi Centre for Biotechnology (RGCB) is designed to accelerate drug discovery and the development of indigenous biosensors. The facility will provide researchers with tools to engineer cells for therapeutic purposes and create high-sensitivity sensors for detecting diseases at early stages. Dr. Singh noted that this infrastructure is vital for India’s "Bio-E3" (Economy, Environment, and Employment) policy, ensuring that Indian biotech startups have access to world-class testing and fabrication facilities without relying on expensive imports.

Long Description : India's participation at MWC 2026 aims to position the country as a global telecom manufacturing hub. The delegation will highlight the success of the PLI scheme in telecom and the deployment of the indigenous 4G/5G stack by BSNL. A key focus will be the "Bharat 6G Alliance," which aims to secure over 10% of global 6G patents by 2030. The Minister is expected to hold bilateral meetings with global tech CEOs to invite investments in India's semiconductor and electronics manufacturing sectors, emphasizing the "Design in India" initiative.

Long Description : As part of India's "SAGAR" (Security and Growth for All in the Region) initiative, INS Tarangini's visit includes professional interactions, deck briefings, and cultural exchanges with the Sri Lanka Navy. The deployment focuses on "Sail Training," where cadets from both navies learn traditional seamanship and navigation. This visit underscores the deep-rooted maritime cooperation between India and Sri Lanka. Such engagements are crucial for maintaining regional stability in the Indian Ocean and enhancing interoperability between the two navies during humanitarian assistance and disaster relief (HADR) operations.

Long Description : Established under the Energy Conservation Act, 2001, BEE has been instrumental in implementing the "Standards and Labeling" (Star Rating) program and the "PAT" (Perform, Achieve, and Trade) scheme. At the 25th anniversary event, the Ministry of Power launched the "Viksit Bharat Energy Roadmap," aiming for net-zero emissions by 2070. The agency has helped India save billions of units of electricity annually through initiatives like UJALA. The event focused on the future of Green Hydrogen and the Carbon Credit Trading Scheme (CCTS) being implemented across industrial sectors.

Long Description : The tragic incident occurred at a private explosives manufacturing unit during the packing process. Local authorities and NDRF teams were deployed for rescue operations. Prime Minister Narendra Modi and Home Minister Amit Shah expressed deep grief over the incident and directed the state government to provide all necessary medical assistance to the injured. A high-level inquiry has been ordered to investigate potential safety protocol lapses. This incident has reignited debates regarding industrial safety standards and the regulation of hazardous manufacturing units in industrial corridors.

Long Description : During his visit to Kerala, the Vice President emphasized the role of educational institutions in fostering national unity and achieving the goals of "Viksit Bharat @2047." He lauded the school's century-long contribution to literacy and social empowerment in the region. Mr. Dhankhar also laid the foundation stone of the "Chetana Ganashram" in Thrissur, a centre dedicated to cultural and spiritual learning. His address focused on the "decolonization of the Indian mind" and the importance of value-based education in the digital age.

Long Description : The four-day fair showcased various systems of Indian medicine, including Ayurveda, Yoga, Unani, Siddha, and Homoeopathy (AYUSH). It attracted thousands of visitors and focused on "Holistic Health for Rural Empowerment." The event featured free health check-ups, distribution of medicinal plants, and workshops on preventive healthcare. The Ministry highlighted that such fairs are essential for integrating traditional medicine with the mainstream healthcare delivery system, particularly in under-served rural areas, aligned with the National Ayush Mission.

Long Description : The workshop aimed to bridge the gap between scientists and the public by encouraging the use of storytelling, digital media, and regional languages in science communication. Experts from various fields discussed the challenges of combating scientific misinformation and the importance of fostering a "scientific temper" among the youth. The event showcased innovative science films and interactive exhibits designed to simplify complex concepts like Artificial Intelligence and Space Exploration for students. This initiative is part of the government’s effort to democratize science under the "Anusandhan" framework.

Long Description : Organized by the Ministry of Food Processing Industries, the conference brings together global food scientists and industry leaders to discuss sustainable food systems. Key topics include plant-based proteins, millet-based value-added products (following the momentum of the International Year of Millets), and the reduction of food waste through innovative packaging. The conference aims to position India as a "Global Food Hub," leveraging its diverse agricultural base to produce healthy and affordable food solutions for the world while addressing climate change challenges in the food supply chain.