Daily current affairs: 5 February 2026

Long Description : Union Minister Piyush Goyal confirmed that the first tranche of a landmark trade deal with the United States is ready for signing by mid-March. This agreement, negotiated since 2025, aims to resolve long-standing tariff disputes and enhance market access. Key sectors like textiles are expected to benefit from reduced US tariffs (down to 18% in some categories). The deal is viewed as a strategic move to decouple supply chains from China and establish India as a primary trade partner for the US. The "mother of all deals" is intended to double bilateral trade from $191 billion to $500 billion by 2030.

Long Description : Home Minister Amit Shah presided over the signing of a landmark agreement to create the Frontier Nagaland Territorial Authority (FNTA). This move addresses the long-standing demand for a separate state or greater autonomy by the Eastern Nagaland tribes. The FNTA will grant enhanced legislative, executive, and financial powers to the region while remaining part of Nagaland state. This settlement is expected to end years of political boycotts and unrest in the eastern districts, focusing on specialized development and ethnic representation within the constitutional framework of India.

Long Description : In a significant reform to deepen the insurance market, the government has notified the commencement of provisions allowing 100% FDI in insurance companies. Previously capped at 74%, this move aims to attract global capital, increase insurance penetration in rural areas, and foster competition. By removing the FDI ceiling, India hopes to achieve the "Insurance for All by 2047" goal. Experts suggest this will lead to a surge in mergers and acquisitions, bringing in global best practices and lowering premium costs for Indian consumers through better risk-assessment technologies and increased capital infusion.

Long Description : Strengthening the "Hydro-Diplomacy" between the two nations, India and Bhutan have finalized the operational framework for the Punatsangchhu-II project. Located on the Punatsangchhu River, this 1,020 MW plant is a run-of-river project, minimizing environmental impact. India’s Ministry of Power has provided financial and technical assistance for the project, which will export surplus power to India, contributing significantly to Bhutan's GDP. This cooperation reinforces India’s role as a net provider of energy security in South Asia and supports Bhutan’s unique "Gross National Happiness" development model through sustainable revenue generation.

Long Description : DRDO successfully demonstrated its solid-fuel ducted ramjet (SFDR) technology at the Integrated Test Range in Chandipur, Odisha. Unlike conventional rockets, ramjet engines use atmospheric oxygen as an oxidizer, significantly reducing missile weight and increasing range and speed (up to Mach 4). This successful test puts India in an elite group of nations possessing such high-speed propulsion technology. The technology is critical for developing future long-range air-to-air missiles (BVRAAM) and provides a significant boost to the 'Atmanirbhar Bharat' initiative in the defense sector, enhancing the strike capability of the Indian Air Force.

Long Description : The 14-day annual exercise, KHANJAR-XIII, aims to enhance interoperability between the Special Forces of India and Kyrgyzstan. Conducted from February 4 to 17, 2026, the exercise focuses on sharing best practices in counter-insurgency and counter-terrorism operations under United Nations mandates. It involves tactical drills, combat tracking, and survival skills in high-altitude environments. This engagement is a vital part of India's "Connect Central Asia" policy, fostering military cooperation and regional stability. The previous edition was held in Kyrgyzstan, reflecting the alternating nature of the bilateral military training program.

Long Description : As part of a global effort to regulate digital assets, India has committed to exchanging information on crypto transactions with other countries starting in 2027. This move aligns with the Crypto-Asset Reporting Framework (CARF) developed by the OECD and endorsed by the G20. The initiative aims to provide tax authorities with greater visibility into offshore crypto holdings, preventing the use of digital currencies for illicit activities. Domestically, this transparency will help the Income Tax Department track high-value transactions that currently bypass traditional banking channels, ensuring a more robust regulatory environment for the growing digital economy.

Long Description : Following several mass casualty events in 2025, the NDMA has introduced specialized DVI guidelines. A key feature is the creation of a "National Dental Data Registry," leveraging the fact that dental records are often the only surviving identifiers in fires or explosions. The SOPs integrate forensic odontology and archaeology into disaster response, aligning India’s protocols with Interpol standards. This framework ensures dignity for the deceased and provides legal closure for families. It also mandates better coordination between police, medical examiners, and forensic labs to handle the rapid decomposition of remains in India’s humid climate.

Long Description : Demonstrating its commitment to multilateralism, India has fulfilled its financial obligations to the UN early in the year. The payment of $35.18 million allows India to be listed on the UN's "Honour Roll," a distinction reserved for member states that pay their regular budget assessments in full within 30 days of the due date. This timely contribution is significant as the UN often faces liquidity crises due to payment delays by major economies. India’s promptness reinforces its position as a responsible global stakeholder and strengthens its advocacy for comprehensive UN reforms and a permanent seat on the Security Council.

Long Description : The signing of the ToR marks the official resumption of FTA talks between India and the six-member GCC (Saudi Arabia, UAE, Qatar, Kuwait, Oman, and Bahrain) after a long hiatus since 2008. The agreement aims to reduce tariffs on goods, simplify service trade, and encourage investment. For India, the GCC is a vital source of energy security and the largest destination for its expatriate workforce. A formal FTA would boost Indian exports in sectors like food products, textiles, and chemicals while securing long-term energy supplies and investment into India’s infrastructure through sovereign wealth funds.

Long Description : In a major legal relief for Anurag Thakur, the Supreme Court modified its earlier restrictive order that had barred him from cricket administration. The 2017 order was originally issued during a period of intense judicial scrutiny of BCCI’s governance and the implementation of Lodha Committee reforms. With this modification, Thakur is now eligible to hold positions or participate in BCCI activities according to the board's current rules and regulations. The court noted the changes in the cricketing body's administrative landscape since the original ruling, effectively ending a long-standing disqualification for the veteran administrator.

Long Description : This project aims to produce 1,000 tonnes of green urea per day, substituting fossil-fuel-based production with renewable hydrogen and green ammonia. By capturing CO2 and using renewable energy, the facility significantly reduces greenhouse gas emissions. This initiative is crucial for India’s food security and climate goals, as it aims to reduce the 8–10 million tonnes of urea India currently imports annually. The project lowers foreign exchange outflow and provides a stable, eco-friendly fertilizer source for farmers, aligning with the "National Green Hydrogen Mission" and the goal of achieving "Atmanirbhar Bharat" in fertilizers.

Long Description : Chief Minister Himanta Biswa Sarma announced the mega-ropeway project designed to provide an easier and more scenic commute for pilgrims and tourists visiting the historic Kamakhya Temple. Currently, the temple is accessed via a steep road on the Nilachal Hills. The new ropeway, which will cross parts of the Brahmaputra River landscape, is expected to reduce travel time significantly and handle large crowds during festivals like Ambubachi Mela. This project is part of a larger initiative to modernize religious infrastructure in the Northeast and position Assam as a major hub for spiritual tourism in South Asia.

Long Description : Tabled alongside the Union Budget 2026–27, the 16th FC report, chaired by Arvind Panagariya, advised keeping the vertical devolution at 41%, consistent with the 15th FC's recommendations. This ensures financial stability for state governments to plan their development projects. The Commission also refined the horizontal distribution formula, which considers factors like population, area, forest cover, and "tax effort." This acceptance by the Centre is seen as a commitment to fiscal federalism, providing states with predictable revenue streams while the Union government focuses on maintaining a fiscal deficit target of 4.3% for the 2026-27 period.

Long Description : By joining this BRICS initiative, India aims to leverage collective expertise in digital manufacturing, Artificial Intelligence, and robotics. The Centre serves as a platform for sharing best practices, developing common industrial standards, and fostering joint research projects. For India, this participation aligns with the "Make in India" and "Digital India" programs, helping domestic MSMEs adopt advanced technologies to compete globally. It also strengthens India's influence within the BRICS+ framework, focusing on practical economic cooperation and technical skill development to bridge the digital divide among emerging economies in the Global South.

Long Description : Following the resignation of N. Biren Singh and a period of administrative stability under President's Rule, Yumnam Khemchand Singh has taken charge as the Chief Minister. His primary mandate is to facilitate reconciliation between the Meitei and Kuki-Zomi communities after years of ethnic tension. The appointment is seen as a strategic move by the Centre to provide a fresh leadership perspective focused on rehabilitation and peace-building. The new administration faces the immediate challenge of restoring law and order, ensuring the safe return of displaced persons, and reviving the state's economy, which was severely impacted by the prolonged unrest.