Daily current affairs: 27 February 2026

Long Description : Prime Minister Narendra Modi’s visit to Israel concluded with a landmark decision to elevate bilateral ties to a "Special Strategic Partnership." This new framework focuses on high-technology sectors, including semiconductors, quantum computing, and biotechnology. Both nations signed 17 Memorandums of Understanding (MoUs), emphasizing the synergy between Israel’s innovation and India’s manufacturing scale. The partnership aims to bolster India’s "Viksit Bharat 2047" vision through deep integration in defense platforms and space exploration. Key outcomes include a renewed roadmap for defense cooperation and an expansion of the India-Israel Industrial R&D and Innovation Fund (I4F) to support startups and high-quality industrial research.

Long Description : The Ministry of Statistics and Programme Implementation (MoSPI) released the Q3 GDP data, revealing a 7.8% expansion. This release is significant as it incorporates a revised base year (2022-23), replacing the old 2011-12 series to better reflect the digital economy and gig work. Despite a slight moderation from the previous quarter, Chief Economic Advisor V. Anantha Nageswaran noted that the momentum remains strong enough to achieve a 7.3% growth rate for the full fiscal year. The rebasing has adjusted sectoral weights, giving more prominence to fast-growing services while scrutinizing agriculture’s contribution in the current economic landscape.

Long Description : Addressing a post-Budget webinar, Prime Minister Narendra Modi called upon the private sector to match the government’s infrastructure spending. He emphasized that the Union Budget 2026-27 has allocated a record Rs 12.2 lakh crore for capital expenditure, a six-fold increase from a decade ago. The PM stressed that when the government, industry, and knowledge partners collaborate, policy reforms effectively translate into ground-level achievements. He specifically exhorted financial institutions to design practical solutions to improve market confidence. The session focused on utilizing technology and financial reforms to catalyze the next phase of India's development towards becoming a developed nation by 2047.

Long Description : Prime Minister Mark Carney’s arrival in Mumbai marks a strategic effort to "reset" the India-Canada relationship. Carney, the former central banker turned politician, is expected to meet with top Indian business leaders in Mumbai before heading to New Delhi to meet Prime Minister Modi. The visit is crucial as Canada seeks to diversify its trade partnerships amidst fracturing relations with the United States. Key discussion points include increasing cooperation in energy, education, and pension fund investments. This high-level visit is seen as a pivotal moment for restoring trust and exploring a potential Comprehensive Economic Partnership Agreement (CEPA) in the near future.

Long Description : During the India AI Impact Summit 2026, the government unveiled plans to boost the nation’s compute infrastructure to 58,000 Graphics Processing Units (GPUs). This move is designed to support startups, researchers, and public institutions by providing high-end compute power at a subsidized rate of approximately Rs 65 per hour. Minister Vaishnaw described this as the foundation for the "fifth industrial revolution" in India. The IndiaAI Mission focuses on "sovereign AI," ensuring that advanced technology is not concentrated in a few corporations but remains accessible for public good, aligning with the summit’s theme of "Sarvajan Hitaya, Sarvajan Sukhaya."

Long Description : Chaired by the Prime Minister, the CCEA approved a significant hike in the MSP for raw jute, ensuring a return of 61.8% over the weighted average cost of production. This decision follows the government's commitment to fix MSP at least 1.5 times the production cost. The Jute Corporation of India (JCI) will continue as the nodal agency for price support operations. Since 2014, the MSP for jute has increased from Rs 2,400 to Rs 5,925, representing a 2.5-fold rise. This move is expected to benefit nearly 4 million farmers, particularly in West Bengal, Bihar, and Assam, promoting crop diversification.

Long Description : Indian benchmark indices experienced their sharpest decline in months, closing at a one-month low. The sell-off was triggered by aggressive selling by Foreign Institutional Investors (FIIs) and weak global cues as US-Iran negotiations reached a stalemate. Sectors like realty, finance, and auto were the hardest hit, with the Nifty closing below the psychological 25,200 mark. Analysts attributed the volatility to the upcoming fiscal year-end and a cooling off in the tech sector. Despite the crash, long-term investors are eyeing mid-cap stocks that have corrected significantly. The total market capitalization of BSE-listed firms dropped to approximately Rs 463 lakh crore during the session.

Long Description : A major controversy erupted after Prime Minister Modi expressed "anguish" over a specific chapter in the NCERT Class 8 curriculum that discussed judicial corruption. The PM stated that such content could vilify institutions and mislead young minds. Union Education Minister Dharmendra Pradhan confirmed that an inquiry has been initiated to identify the academics and officials involved in drafting the content. The Prime Minister emphasized the need for "decolonizing" the education system and ensuring that textbooks reflect institutional integrity. This development has sparked a broader debate on academic freedom versus the responsibility of state-funded educational bodies to present balanced perspectives on democratic pillars.

Long Description : Union Minister Ashwini Vaishnaw unveiled the RailTech Portal, a centralized platform designed to integrate AI and modern technology into railway operations. Simultaneously, the Railway Claims Tribunal has transitioned to an online format (e-RCT), allowing passengers to file and track claims digitally, significantly reducing the pendency of cases. These reforms are part of a broader strategy to improve safety and operational efficiency. The government also sanctioned Rs 872 crore for new infrastructure projects in Kerala, Rajasthan, and West Bengal. These initiatives aim to transform Indian Railways into a tech-driven network, focusing on faster project execution and enhanced passenger convenience through automated digital interfaces.

Long Description : The Bihar government has introduced strict regulations for microfinance institutions operating within the state to prevent the exploitation of rural borrowers. The Bihar MFI Bill 2026 mandates a cap on interest rates and strictly prohibits coercive recovery tactics. Following the announcement, stocks of major players like L&T Finance and Utkarsh Small Finance Bank tanked by up to 11%. While the government frames this as a move for "farmer prosperity" and "financial inclusion," industry experts worry it may lead to a credit squeeze in rural areas. The bill requires all MFIs to register with a state-level authority, adding a layer of oversight beyond RBI’s existing regulations.

Long Description : The District Development Councils, which were established as the third tier of Panchayati Raj in Jammu and Kashmir post-2019, have officially completed their first term. These councils were instrumental in local planning and development across 20 districts. As of February 27, 2026, the absence of a schedule for new elections has raised concerns among political stakeholders regarding the continuity of local governance. The administration is expected to appoint administrators to oversee functions temporarily. This transition comes at a sensitive time as the region continues its political evolution, and the expiration marks the end of a significant chapter in the UT’s decentralized developmental experiment.

Long Description : The high-level committee investigating the ethnic violence and administrative lapses in Manipur has seen a leadership change. Justice Ajay Lamba, the former Chief Justice of the Gauhati High Court, stepped down, citing personal health concerns. The Union Home Ministry promptly appointed Justice B S Chauhan to ensure the probe remains on track. The committee is tasked with examining the causes and spread of violence that began in 2023, as well as recommending measures to restore long-term peace. The transition is expected to maintain the momentum of the investigation, which is currently in its final stages of evidence gathering and witness depositions from affected communities.

Long Description : India and Brazil have agreed to strengthen their agricultural partnership, focusing on two key areas: increasing pulse production and expanding natural farming techniques. Both nations, as members of the Global South, emphasized the need for "Smart Agro-Food Systems" that are resilient to climate change. A significant Memorandum of Understanding (MoU) was discussed to facilitate the exchange of germplasm for heat-resistant crops. This collaboration aligns with India's "Self-Reliance in Pulses Mission." Furthermore, Brazil has shown interest in India's "Namo Drone Didi" scheme as a model for empowering rural women through agricultural technology, potentially leading to a joint working group on rural livelihood enhancement.

Long Description : The ruling Mahayuti coalition in Maharashtra has moved forward with its plan to introduce a stringent anti-conversion law. The "preliminary" draft, currently under review by the Law and Judiciary Department, focuses on preventing conversions through fraud, force, or allurement. It specifically targets marriages intended solely for the purpose of religious conversion, often referred to in political circles as "love jihad." Similar to laws in Uttar Pradesh and Madhya Pradesh, the bill proposes heavy fines and imprisonment for violators. Critics argue the law may infringe upon individual autonomy, while supporters maintain it is necessary to protect vulnerable individuals from organized predatory practices.

Long Description : Following the success of the chair-car versions, Indian Railways is fast-tracking the deployment of Vande Bharat Sleeper trains. The ICF is currently in the final stages of manufacturing two 16-coach rakes designed for speeds up to 160 kmph. These sleeper trains feature enhanced suspension, noise insulation, and "best-in-class" passenger amenities like sensor-based lighting and bio-vacuum toilets. The first few routes expected to receive these rakes include high-demand corridors like Delhi-Mumbai and Bengaluru-Chennai. This expansion is part of the government’s plan to replace traditional Rajdhani expresses with more efficient, faster, and indigenously built semi-high-speed sleeper trains by the end of 2026.

Long Description : India’s flagship AI language initiative, Bhashini, has reached a significant milestone in democratizing digital governance. By integrating dialects such as Braj and Awadhi into its Large Language Models (LLMs), the platform is enabling millions of non-English speakers to access government services in their native tongues. Simultaneously, Bengaluru-based Sarvam AI has introduced two indigenous LLMs (30B and 105B parameters) tailored for India’s linguistic diversity. These developments are crucial for "digital equity," ensuring that linguistic barriers do not obstruct civic participation. The expansion is part of a broader "sovereign DPI" (Digital Public Infrastructure) strategy aimed at making technology inclusive for the most marginalized rural populations.