Daily current affairs: 7 February 2026

Long Description : The Government of India and the US administration formalized an interim trade agreement aimed at achieving a $500 billion trade target. A major highlight is the immediate removal of the 25% "Russian oil-linked" punitive tariffs on Indian exports. In exchange, New Delhi will provide greater market access for American industrial goods and specific agricultural products. However, India has successfully protected sensitive sectors like dairy, grains, and spices to safeguard domestic farmers. The pact also includes a 10-year roadmap for deepened defense cooperation and the creation of resilient supply chains in the semiconductor and green energy sectors.

Long Description : The Indian U-19 cricket team dominated the 2026 World Cup final held at Mumbai, securing their sixth title with a clinical victory over England. The star of the match, 14-year-old Vaibhav Sooryavanshi, smashed 175 off just 80 balls, featuring 15 sixes. India's total of 411/9 is the highest ever in a tournament finale. Following the win, the BCCI announced a cash prize of ₹7.5 crore for the squad and support staff. This victory reinforces India’s grassroots strength in cricket, having previously won the title in 2000, 2008, 2012, 2018, and 2022.

Long Description : Chaired by the RBI Governor, the Monetary Policy Committee concluded its first bi-monthly meeting of 2026 by maintaining the "status quo." The repo rate remains at 5.25%, and the Standing Deposit Facility (SDF) rate stands at 5%. The committee noted that while the current inflation rate has stabilized around 2.1%, global economic uncertainties necessitate a cautious "withdrawal of accommodation" stance. The RBI maintained its GDP growth forecast for FY27 at 7.4%, citing a recovery in trade and robust domestic demand. This stability is expected to support affordable lending for the housing and automobile sectors.

Long Description : In a significant move toward resolving long-standing regional demands, the Ministry of Home Affairs oversaw the signing of the FNTA agreement. The new authority will cover the districts of Tuensang, Mon, Kiphire, Longleng, Noklak, and Shamtor. Under the pact, 46 subjects currently handled by the state government will be transferred to the FNTA, which will be headed by an Additional Chief Secretary-rank officer. Importantly, the agreement ensures that the special provisions of Article 371(A) of the Constitution remain untouched. The Union government will provide initial funding for the FNTA’s establishment and its administrative secretariat.

Long Description : India has reaffirmed its commitment to multilateralism by becoming one of the first 52 member states to pay its United Nations regular budget assessments for 2026. By transferring $35.18 million, India secured its place on the prestigious ‘Honour Roll.’ This timely payment is seen as a reflection of India’s growing role and responsibility in global governance. The UN uses these funds for its core functions, including peacekeeping, human rights, and administrative operations. India’s consistent record of early payment contrasts with many larger economies that often delay contributions, strengthening its case for a permanent seat on the UN Security Council.

Long Description : Launched at Vigyan Bhavan, ‘Bharat Taxi’ is a revolutionary initiative by the Ministry of Cooperation. Unlike private competitors, this service operates on a cooperative model where drivers are stakeholders rather than mere contractors. Key features include ‘Bike Didi,’ which has already onboarded 150+ women drivers, and ‘Sarathi Didi,’ a dedicated app window for women passengers to book rides exclusively with women drivers. This initiative is designed to increase the earnings of drivers by reducing platform commissions while providing safer and more affordable transport options for citizens, aligning with the "Sahkar-se-Samriddhi" vision.

Long Description : To further bolster the "Startup India" mission, the DPIIT notified a revised framework that doubles the recognition tenure for startups. Entities can now retain their "startup" status for up to 20 years from incorporation, particularly benefiting deep-tech and capital-intensive firms with longer gestation periods. The annual turnover threshold has been raised from ₹100 crore to ₹300 crore. However, the new rules impose strict restrictions on the use of funds; recognized startups are prohibited from investing in residential real estate or non-core land. These changes aim to enhance the "Ease of Doing Business" and attract long-term investments.

Long Description : The UPSC CSE 2026 notification highlights several procedural shifts aimed at enhancing transparency. For the first time, candidates must use a "Four-Stage Online Application System" that includes a mandatory live photo capture to prevent impersonation. The commission has also removed the facility to withdraw applications once submitted. Among the 933 vacancies, 33 are reserved for Persons with Benchmark Disabilities (PwBD). The preliminary exam is scheduled for May 24, 2026. New eligibility restrictions state that serving IAS or IFS officers cannot reappear for the exam, ensuring more opportunities for new aspirants.

Long Description : Chhari-Dhandh, located in the Banni grasslands of Kutch, Gujarat, has received the prestigious Ramsar tag. Known for its unique "seasonal desert wetland" ecosystem, it serves as a critical habitat for thousands of migratory birds, including the Dalmatian Pelican and Common Crane. The designation will facilitate international cooperation and funding for the conservation of this biodiversity hotspot. With this addition, India continues to lead South Asia in the number of Ramsar sites, emphasizing its commitment to the "Amrit Dharohar" initiative which focuses on the sustainable use of wetlands for local communities and wildlife.

Long Description : Addressing a press interaction, the Union Minister detailed the massive infrastructure push in the latest budget. The capital expenditure (Capex) of ₹12.2 lakh crore is designed to drive the "Viksit Bharat" vision. Significant allocations include a 500% rise in highway funding and a 210% increase for defense since 2014. The Minister noted that India’s metro network has now crossed 1,000 km, and the number of airports has grown to 160. The budget prioritizes indigenous manufacturing, particularly in the defense sector, to reduce import dependence while generating approximately 33 crore person-days of employment annually through infrastructure projects.

Long Description : During a parliamentary session, the government confirmed that it has fulfilled its financial obligation toward the Chabahar Port project. The $120 million investment is crucial for India’s regional connectivity strategy, providing a bypass to Pakistan for trade with Afghanistan and Central Asia. Despite the looming expiration of the US sanctions waiver, India’s proactive payment signals its strategic intent to maintain the port as a viable commercial hub. The move is also linked to the International North-South Transport Corridor (INSTC), aiming to reduce the time and cost of cargo movement between India and Russia.

Long Description : A recent PIB summary reveals that the government's target of creating decentralised rural institutions is gaining momentum, especially among women. The 1,175 all-women FPOs are designed to provide small and marginal female farmers with better bargaining power, access to credit, and direct market linkages. By aggregating produce, these FPOs reduce the influence of middlemen and align with Sustainable Development Goals (SDG 1 & 2). The Ministry of Agriculture is now working to integrate these women-led units with digital platforms like ONDC and e-NAM to expand their reach into national and global value chains.

Long Description : The T20 World Cup 2026 has officially started, featuring 20 teams competing for the ultimate prize in the shortest format of the game. The tournament is being co-hosted by India and Sri Lanka, with matches scheduled across six major venues. Group A, featuring India, Pakistan, USA, Netherlands, and Namibia, is under the spotlight as the USA previously stunned Pakistan in the 2024 edition. Today's opening day features Pakistan playing Netherlands in Colombo, followed by India’s high-stakes clash against the USA. The event is expected to draw record-breaking digital viewership and significantly boost sports tourism in the subcontinent.

Long Description : The Arbitration and Conciliation (Amendment) Act 2019 provided for the creation of the ACI to grade arbitral institutions and accredit arbitrators. However, legal experts and government summaries note that the delay in its formation has led to an "implementation deficit." Constituting the ACI is seen as vital for making India a global hub for institutional arbitration, similar to Singapore or London. The council would ensure transparent appointments and procedural consistency, reducing the judicial backlog. Current policy discussions emphasize a balance between regulatory oversight and maintaining the independence of the arbitration process to attract foreign direct investment.

Long Description : The Maharashtra Police and specialized anti-Maoist units successfully concluded a high-stakes operation in the dense forests of Gadchiroli. Prabhakar, alias Loketi Chandar Rao, was the head of the Gadchiroli Division Committee and a key strategist for the outlawed movement. The operation resulted in the recovery of significant arms and ammunition. One police jawan tragically lost his life in the line of duty. This elimination is considered a massive blow to the Maoist insurgency in the "Red Corridor," as Prabhakar was responsible for several high-profile attacks on security personnel and infrastructure projects in the region.

Long Description : On February 5, a blast occurred in an illegal mining site in the Mynsyngat Thangsko area. By February 7, disaster response teams had recovered 25 bodies from the debris. The incident has once again brought the issue of banned "rat-hole" mining into the national spotlight. Despite a National Green Tribunal (NGT) ban since 2014, illegal mining continues in remote areas. Two mine owners have been arrested so far. The state government faces criticism for failing to enforce safety norms and environmental regulations, leading to repeated tragedies involving migrant laborers in these hazardous conditions.