Daily current affairs: 21 February 2026

Long Description : The United States Supreme Court has delivered a significant blow to the Trump administration’s trade policy by ruling that the IEEPA of 1977 does not grant the President unilateral authority to impose broad import taxes, a power reserved for Congress. While President Trump immediately invoked Section 122 of the Trade Act of 1974 to impose a fresh 10% blanket tariff starting February 24, Indian exporters find themselves in a better position. Under a previous interim deal, Indian goods were facing an 18% duty; they will now see this rate cut to the new 10% blanket rate, providing temporary competitive relief in the American market.

Long Description : As the first developing country to host this major global forum, India successfully gathered dozens of national delegations and tech CEOs at Bharat Mandapam. The summit focused on multilingual AI translation, energy consumption of data centers, and job disruption. Minister Ashwini Vaishnaw highlighted that over 80 countries are expected to sign the final declaration, which emphasizes a "human-centric" approach to generative AI. Additionally, the event showcased India’s burgeoning AI ecosystem, attracting $250 billion in investment commitments and over 5 lakh visitors, reflecting the nation's intent to lead global AI governance and infrastructure development for the Global South.

Long Description : India has officially taken the lead of the IONS for the 2026–2028 term, marking its second tenure as Chair since the forum's inception in 2008. The transition took place during a high-profile conclave in Visakhapatnam, where 25 member nations discussed maritime security and disaster relief cooperation. Under India's leadership, the symposium aims to strengthen interoperability among navies in the Indian Ocean Region (IOR) and promote the "Security and Growth for All in the Region" (SAGAR) initiative. This chairmanship is vital for India’s strategic role as a "net security provider" amidst evolving geopolitical challenges in maritime trade routes.

Long Description : Speaking at Bharat Mandapam, the Vice-President emphasized that CSR should evolve from mere legal compliance into "nation-building capital." He highlighted India’s leap to becoming the world's 4th largest economy and noted that deep partnerships between government and industry are essential for the next phase of development. The Vice-President urged companies to prioritize healthcare in remote areas, industry-aligned skill development, and green energy initiatives. He specifically mentioned that honest taxpayers and socially responsible corporations are the backbone of a patriotic citizenry, fostering an innovation-driven ecosystem that serves not just India, but the entire global community.

Long Description : This strategic move integrates India into a global network of partners dedicated to building resilient supply chains for high-tech components. The alliance focuses on the mining, processing, and recycling of critical minerals such as lithium, cobalt, and rare earth elements, which are essential for electric vehicles and semiconductor manufacturing. By joining this coalition, India gains access to advanced extraction technologies and investment opportunities, aligning with its "Make in India" and "PLI Scheme" objectives. The partnership is expected to bolster India’s position as a global manufacturing hub and ensure a steady supply of materials necessary for the 5G and green energy sectors.

Long Description : The Ministry of External Affairs confirmed India’s participation in the inaugural session of the Board of Peace, a body established to mediate and stabilize the Gaza region. By choosing the ‘observer’ status, India maintains its principled stand on a two-state solution while actively contributing to humanitarian and diplomatic efforts. The MEA spokesperson, Randhir Jaiswal, stated that India supports a sovereign, independent, and viable state of Palestine living side-by-side with Israel. This role allows India to engage with global leaders, including the US administration, to ensure long-term stability and peace in the Middle East without direct military involvement.

Long Description : The shift to the 2024 base year reflects updated consumption patterns and provides a more accurate picture of the current economy. The drop to 2.75% is attributed to cooling food prices and improved supply chain efficiency. This low inflation rate gives the Reserve Bank of India (RBI) more room to consider interest rate cuts in the upcoming Monetary Policy Committee (MPC) meetings. Economists suggest that the revised index better captures the shift toward services and digital products in the Indian household budget, marking a significant milestone in India's statistical reform journey and economic monitoring.

Long Description : This massive procurement push aims to bridge the gap in the Indian Air Force’s fighter squadron strength and enhance the Navy’s surveillance capabilities in the Indian Ocean. The 114 Rafales will be acquired under the 'Multi-Role Fighter Aircraft' (MRFA) program, with a significant portion expected to be manufactured in India through strategic partnerships. Simultaneously, the addition of six Boeing P-8I aircraft will strengthen India's anti-submarine warfare and maritime domain awareness. These clearances represent one of the largest modernizations of the Indian armed forces, focusing on long-range strike capabilities and technological superiority in the region.

Long Description : SANKALP (Skill Acquisition and Knowledge Awareness for Livelihood Promotion) is a World Bank-assisted project under the Ministry of Skill Development and Entrepreneurship. In its latest report, the PAC highlighted significant delays in achieving the project's milestones and a lack of coordination at the state level. The committee urged the government to expedite the certification process and ensure that the training provided is aligned with current industry demands, particularly in emerging sectors like AI and green tech. This critique serves as a call for structural reforms in how vocational training is delivered across the country to improve employability.

Long Description : Through a combination of solar energy adoption, organic farming, and massive afforestation, Bela Gram has successfully neutralized its carbon footprint. The village utilizes decentralized solar grids for all household and agricultural needs, while waste management systems have eliminated methane emissions. This milestone is a successful pilot for the government's Panchamrit goals announced at COP. The initiative was supported by local panchayat leadership and serves as a blueprint for sustainable rural development across India. The success of Bela Gram demonstrates that environmental sustainability and economic growth can be achieved simultaneously at the grassroots level.

Long Description : A bench of the Supreme Court raised concerns about the long-term impact of populist electoral promises on the fiscal health of state governments. The court noted that while genuine welfare schemes are necessary, the distinction between "welfare" and "freebies" is often blurred. The SC suggested the need for an independent body or committee involving the Finance Commission to evaluate the economic feasibility of such promises. This judicial intervention comes amid rising debt-to-GDP ratios in several states, prompting a national debate on financial discipline and the ethical boundaries of political campaigning in a democratic setup.

Long Description : This committee will streamline the verification process for migrants from persecuted communities who have applied for Indian citizenship. The move is seen as an effort to accelerate the implementation of the CAA, which has faced administrative hurdles and regional opposition. By setting up a dedicated desk for West Bengal, the government aims to handle the high volume of applications from the region more efficiently. The committee will include central and state-level representatives to ensure that background checks and documentation are processed according to the latest 2024 rules notified by the Centre.

Long Description : The agreement focuses on strengthening India’s defence industrial ecosystem by leveraging Israel's high-tech capabilities in drones, missile defense, and cybersecurity. Discussions centered on the updated Defence Acquisition Procedure (DAP) 2026, which prioritizes "Make in India." This MoU facilitates future seminars and collaborative industrial programs, aiming for higher interoperability between the two nations' armed forces. For India, this partnership is crucial for reducing import reliance and achieving self-sufficiency in high-end military technology, while Israel benefits from India’s large-scale manufacturing capacity and growing strategic influence in the Indo-Pacific region.

Long Description : A negative net FDI indicates that the outflow of capital from foreign investors (repatriation or divestment) has exceeded the fresh equity inflows. Analysts attribute this trend to global high-interest rates in developed markets and geopolitical uncertainties that have made investors more cautious. Despite strong domestic GDP growth and sector-specific reforms, the sustained negative trend suggests a need for further policy easing or improved ease-of-doing-business measures to regain investor confidence. This data is a critical indicator for the government to reassess its strategy for attracting long-term foreign capital into capital-intensive sectors.

Long Description : The project, estimated at ₹339 crore, will feature modern facilities, including advanced pitches, practice areas, and media infrastructure complying with international norms. Funding includes ₹100 crore from the oil sector, with ₹60 crore from IOCL’s Corporate Social Responsibility (CSR) funds, ₹30 crore from BPCL, and ₹10 crore from HPCL. This initiative aims to boost sports infrastructure in Eastern Uttar Pradesh and provide a world-class platform for local talent. The stadium is expected to stimulate the local economy through sports tourism and enhance the city's profile as a regional hub for major athletic events.

Long Description : Pu Vungzagin Valte was a significant political figure in Manipur, known for his diligent work in bringing a positive difference to society. The Prime Minister noted that Valte’s interventions in the State Assembly were always insightful and constructive. His passing is viewed as a loss for the political landscape of Northeast India, where he played a key role in community welfare and regional development. Condolences were extended to his family and supporters, acknowledging his legacy of public service and his contribution to the socio-economic progress of Manipur during his long and dedicated career.