CURRENT AFFAIRS 06-07 February, 2026

CURRENT AFFAIRS 06-07 February, 2026

1. UNION BUDGET 2026–27 PUSH FOR CHEMICAL PARKS –

• The Union Budget 2026–27 announced India’s first dedicated budgetary support for chemical park infrastructure, proposing a ₹600 crore, challenge-based scheme to help States establish three Chemical Parks.

What are Chemical Parks?

• About: Chemical Parks are planned industrial clusters designed specifically for chemical and petrochemical manufacturing, where multiple units operate together using shared infrastructure and common facilities.
• Key Features: The parks will follow a cluster-based, plug-and-play model, offering ready industrial land, common utilities, logistics support, and standard environmental compliance facilities such as waste treatment and safety systems.
• The initiative builds on successful cluster models such as Plastic Parks, Bulk Drug Parks, and Petroleum, Chemicals and Petrochemical Investment Regions(PCPIRs), which have demonstrated the benefits of shared infrastructure, economies of scale, and faster project execution
• Objective: The initiative aims to strengthen domestic chemical manufacturing, reduce import dependence, improve supply-chain integration, and enhance India’s global competitiveness in bulk and specialty chemicals.
• India’s Status: India’s chemical industry is a core pillar of manufacturing, supplying key inputs to agriculture, pharmaceuticals, textiles, automobiles and construction, contributing about 7% to GDP, ranking sixth globally and third in Asia.
• Significance: Backed by targeted policy support and measures to encourage technology adoption, innovation, and sustainability, this integrated approach is expected to deepen domestic manufacturing capabilities and enhance India’s integration into global chemical value chains in the coming decade.

2. RBI MPC KEEPS REPO RATE UNCHANGED –

• The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC), in its February 2026 meeting, kept the repo rate unchanged at 5.25%, following a 25 basis point cut in December 2025.
• The decision implies no immediate change in lending and deposit rates. EMIs on repo-linked loans (home, personal loans) are expected to remain stable.
• What are the Key Announcements made by the RBI’s Monetary Policy Committee (MPC)?
• Monetary Policy Stance: The committee chose to retain the “neutral” monetary policy stance. This indicates the RBI is not committed to a future rate hike or cut and will act based on incoming data.
• GDP Growth Forecast: The RBI raised its GDP growth projection for FY26 to 7.4% from the earlier estimate of 7.3%.
• Retail Inflation for FY26: The RBI marginally increased its retail inflation projection for FY26 to 2.1% from the earlier 2.0%.

Positive Domestic Conditions (Supporting the Pause)

• Strong and Upwardly Growth: The revised 7.4% growth forecast indicates strong momentum driven by robust consumption, projected to expand by about 7% in FY26. It is supported by budget stimuli (income tax cuts in FY26, GST rationalisation), past 125 bps rate cuts, and subdued inflation.
• The Economic Survey 2025–26 has forecast GDP to grow between 6.8-7.2% in the fiscal year 2026-27 on the back of strong domestic demand.
• Benign and Controlled Inflation: Headline inflation, at 1.33% in December 2025, remains comfortably below the RBI’s 2–6% band. The underlying inflation is low and benign, with the near-term outlook near the target.
• Recent Pro-Growth Stimuli: The Union Budget 2026–27’s pro-growth fiscal measures are expected to boost consumption. The RBI is pausing to assess their impact, as past monetary easing is still transmitting through the economy, reducing the need for immediate further action.

3. STARTUP INDIA 2.0? GOVT EXTENDS RECOGNITION TO 20 YEARS –

• India’s startup ecosystem has received a major policy upgrade. In February 2026, the government expanded the Startup India definition to formally include deep technology startups, recognising their long research cycles and high capital needs. The move extends the recognition period from 10 to 20 years and offers tailored benefits to research-driven firms. This reform marks a shift from short-term scalability to long-term innovation, strengthening India’s ambition to become a global technology and knowledge hub.

What Has Changed in the Startup Definition

• For the first time, the government has created a separate regulatory category for deep tech startups.
• While regular startups continue to enjoy recognition for 10 years with a turnover cap of ₹200 crore, deep tech firms will now be recognized for 20 years with a higher turnover ceiling of ₹300 crore.
• The revised framework acknowledges that deep tech companies require longer gestation periods, higher R&D spending, and sustained innovation before commercial success.

4. DELHI POLICE DRAWS THE LINE WITH OPERATION SHASTRA AGAINST DIGITAL FEAR –

• The Delhi Police has launched a major city-wide crackdown called Operation Shastra to tackle the growing misuse of social media platforms for intimidation and fear-mongering. Announced on February 7, 2026, the operation focuses on individuals who post photos with weapons, use abusive language, or project criminal dominance online. Police officials believe such online behaviour often fuels real-world law and order issues. The operation aims to restore public confidence and send a strong message that digital threats will face strict legal action.

Why Delhi Police Launched Operation Shastra

• According to the Delhi Police, social media is increasingly being used to signal criminal power and create psychological fear among the public.
• S K Jain, Joint Commissioner of Police (Southern Range), stated that the focus is on individuals attempting to establish dominance or intimidate rivals through online posts. Such content, though digital, often escalates into physical violence.
• Operation Shastra is designed as a preventive step to stop crimes before they happen.

5. THIS DISTRICT OF RAJASTHAN BECAME INDIA’S FIRST FULLY INSURED DISTRICT –

• Alwar district in Rajasthan became the first district in the country to achieve 100% insurance coverage under the Centre’s ‘Insurance for All by 2047’ roadmap. The achievement reflects a strong focus on last-mile delivery, inclusion, and grassroots execution, marking a practical step toward the vision of a ‘Secure India-Insured India’.

What Is ‘Insurance for All by 2047’

• The Insurance for All by 2047 roadmap is a joint initiative of the Government of India and the Insurance Regulatory and Development Authority of India, under the Ministry of Finance.
• The programme aims to achieve universal insurance coverage by the 100th year of India’s Independence, focusing on affordability, accessibility, and inclusion across life, health, and general insurance segments.

MCQ QUIZ

Q1.   Which district has become the first in India to achieve 100% insurance coverage under “Insurance for All by 2047” ?

1. a) Satna, Madhya Pradesh
2. b) Sonipat, Haryana
3. c) Meerut, Madhya Pradesh
4. d) Alwar, Rajasthan

Q2.   NAMASTE scheme is a joint initiative of which two ministries ?

1. a) Ministry of Social Justice & Empowerment and Ministry of Finance
2. b) Ministry of Rural Development and Ministry of Agriculture
3. c) Ministry of Social Justice & Empowerment and Ministry of Housing and Urban Affairs
4. d) Ministry of Home Affairs and Ministry of Agriculture

Q3.   What is the name of the government scheme launched to provide quality generic medicines at affordable prices ?

1. a) Pradhan Mantri Bhartiya Janaushadhi Pariyojana
2. b) Janani Suraksha Yojana
3. c) Bharat Pharmacies Mission
4. d) Swasthya Kendra Scheme

Q4.   Consider the following statements:

          Statement I: India is the world’s second-largest steel producer but remains “Coking Coal Poor” in terms of usable domestic supply.

          Statement II: Indian coking coal deposits are predominantly found in the coastal belts of Peninsular India.

          Which one of the following is correct in respect of the above statements ?

1. a) Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I
2. b) Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I
3. c) Statement-I is correct but Statement-II is incorrect
4. d) Statement-I is incorrect but Statement-II is correct

Explanation-

• Statement I is correct. India currently holds the position of the world’s second-largest steel producer. However, it is described as “Coking Coal Poor” because, despite having total resources of approximately 37 Billion Tonnes, it cannot meet its industrial requirements domestically. About 95% of its coking coal is imported because the domestic variety has high ash content and requires complex washing.
• Statement II is incorrect. Indian coking coal deposits are not found in coastal belts. Instead, they are concentrated in the inland Gondwana rock formations of eastern and central India. The primary reserves are located in Jharkhand (Jharia, Bokaro), with other significant deposits in West Bengal, Chhattisgarh, and Madhya Pradesh.
• The “Import Paradox” exists because the inland location and high ash content make it more expensive or technically difficult to use compared to high-quality imported coal from Australia or the USA.

Q5.   With reference to the recent signing of the Terms of Reference (ToR) between India and the Gulf Cooperation Council (GCC), consider the following statements:

1. The ToR marks the formal conclusion of the Free Trade Agreement negotiations.
2. The ToR outlines the scope, objectives, and modalities for FTA negotiations.
3. The signing of the ToR automatically leads to immediate tariff elimination.

          Which of the statements given above is/are correct ?

1. a) 1 and 2 only
2. b) 2 only
3. c) 2 and 3 only
4. d) 1, 2, and 3

Explanation-

• Statement 1 – Incorrect: The ToR is a precursor, not the conclusion, of FTA negotiations.
• Statement 2 – Correct: ToR defines what will be negotiated, how, and with what objectives.
• Statement 3 – Incorrect: Tariff reduction happens only after the FTA is negotiated, signed, and ratified.

Answer Key