Daily Current Affairs (07 – Jan – 26)

Daily Current Affairs  (07 – Jan – 26)

1. First Advance Estimates of GDP –

• The Ministry of Statistics and Programme Implementation, has released the First Advance Estimates (FAE) of GDP growth for the fiscal year 2025-26.

Key Highlights

• Projected GDP Growth:
• Real GDP Growth: 4% for 2025-26, up from 6.5% in the previous year.
• Nominal GDP Growth: 8% for 2025-26 (the lowest in 5 years).
• Nominal GDP in Rupee Terms: Rs 357 lakh crore (~$3.97 trillion).

Sector-wise Growth Projections:

• Manufacturing Sector: Expected to grow at 7%, up from 4.5% in 2024-25.
• Agriculture Sector: Predicted to grow at 3.1%, a slowdown from 4.6% in the previous year.
• Mining and Quarrying: Estimated to contract by 0.7%, compared to 2.7% growth in 2024-25.
• Global Context: According to the International Monetary Fund (IMF), India is expected to be the only major economy recording growth above 6% in FY 2025–26, even as global trade faces disruption and overall world growth slows.
• Tertiary Sector (Services): Expected to grow at 9.1%, an increase from 7.2% in FY 2024–25.

Key Economic Indicators:

• Private Final Consumption Expenditure (PFCE): Projected to grow at 7%, slightly slower than the 7.2% of 2024-25.
• Gross Fixed Capital Formation (GFCF): Expected to grow at 7.8%, faster than the 7.1% seen in 2024-25.
• Government Consumption Expenditure: Expected to grow by 5.2%, up from 2.3% in the previous year, largely due to increased state government spending.

New GDP Series

• Base Year Shift: GDP data from February 2025 onwards will be based on the new series with a 2022-23 base year instead of 2011-12.
• Impact: The shift reflects structural transformation in the Indian economy, offering more accurate insights

2. Turkman Gate –

• Turkman Gate is in the news following a recent demolition drive that turned violent, recalling the Emergency (1975–77) when the area witnessed forced demolitions and coercive sterilisation drives, later examined by the Shah Commission.
• About:Turkman Gate was one of the 14 gates of Shahjahanabad, the walled city founded by Mughal emperor Shah Jahan in the mid-17th century (around 1650 AD).
• It was named after the Sufi saint Hazrat Shah Turkman Bayabani, whose mausoleum lies in the vicinity, giving the area enduring cultural and religious significance.
• History:The significance of Turkman Gate predates Mughal Delhi. The area formed part of an important pre-existing urban and spiritual landscape, reflecting Delhi’s role as a major centre of Sufism.
• The saint Shah Turkman Bayabani is traditionally associated with early ascetic Sufi traditions in Delhi, and the proximity of Razia Sultan’s grave to his shrine indicates the reverence attached to the site over centuries.
• Location: The gate stood along a key arterial route linking Fatehpuri Masjid – Hauz Qazi – the old Yamuna belt, a thoroughfare that was incorporated into Shahjahanabad’s urban design. Today, it is located in Old Delhi, near Jama Masjid.
• Significance:Like other gates of the walled city, Turkman Gate served both defensive and commercial functions, protecting the city from external threats while regulating the movement of people and goods.
• It survived major historical disruptions, including the Revolt of 1857, colonial-era demolition of city walls, Partition, and subsequent commercial restructuring.

3. RBI Cancels Certificate of Registration of 35 NBFCs for Regulatory Non-Compliance –

• In January 2026, the Reserve Bank of India (RBI) cancelled the Certificate of Registration (CoR) of 35 Non-Banking Financial Companies (NBFCs) for failing to comply with regulatory requirements. These cancellations became effective from December 9 to 31, 2025. Additionally, 16 other NBFCs voluntarily surrendered their CoR to the RBI, bringing the total number of cancelled registrations to 51 NBFCs. This significant regulatory action demonstrates RBI’s commitment to maintaining financial system integrity and enforcing strict compliance standards across the non-banking financial sector.

Why This Action Matters?

• This regulatory crackdown addresses critical compliance failures in the non-banking financial sector. The action serves multiple strategic purposes:
• Financial System Stability – Removes non-compliant entities that pose systemic risks
• Consumer Protection – Prevents unlicensed entities from operating
• Regulatory Enforcement – Demonstrates RBI’s resolve in maintaining standards
• Market Integrity – Eliminates fraudulent or unstable players
• Investor Confidence – Ensures only legitimate NBFCs operate in the market

4. S. Withdraws from 66 International Organizations Under Trump Order –

• The United States has announced its withdrawal from 66 international organisations, marking a significant escalation in President Donald Trump’s retreat from multilateral global cooperation. The decision, formalized through an executive order signed on January 7, 2026, represents a comprehensive recalibration of U.S. participation in international bodies, particularly those affiliated with the United Nations system. This action follows extensive review of U.S. participation and funding in international institutions, with the administration characterizing many targeted bodies as redundant, inefficient, or misaligned with U.S. national interests and sovereignty. The withdrawals signal a fundamental shift toward unilateral and selectively multilateral approaches to international engagement.

Key Facts for Competitive Exams and Current Affairs

• Number of Organizations:66 international organisations, agencies, and commissions
• Executive Order Date: January 7, 2026
• Primary Targets: UN-affiliated bodies focusing on climate, labour, and social development
• Key Exit:UN Framework Convention on Climate Change (UNFCCC)
• Climate Alliance Exit:International Solar Alliance (India-France led, launched 2015)
• UNFCCC Adoption: 1992 (foundational treaty for Paris Agreement)
• S. Position:Among world’s largest historical greenhouse gas emitters
• Previous Withdrawals:WHO, UN Human Rights Council, UNESCO
• Selective Engagement:International Telecommunications Union, International Maritime Organization, International Labour Organization
• Primary Focus:Strategic competition with China

5. CJI Surya Kant Inaugurates India’s First Fully Paperless District Court in Kalpetta, Kerala –

• On January 6, 2026, Chief Justice of India (CJI) Surya Kant virtually inaugurated India’s first fully paperless district court in Kalpetta, Wayanad, Kerala. This historic milestone marks the complete digital transformation of district judiciary operations, making all judicial proceedings entirely electronic from case filing to final judgment.

Why This Matters?

• This development is significant because:
• Judicial Modernization:Represents India’s commitment to digital courts
• Efficiency Boost: Reduces delays, court visits, and clerical errors
• Technology Integration: First use of AI in district court operations
• Citizen-Centric:Improves access to justice through digital platforms
• Environmental Impact: Eliminates massive paper consumption

MCQ Quiz

Q1. The Salal Hydroelectric Project is located on which river ?

1. a) Ravi
2. b) Jhelum
3. c) Chenab
4. d) Indus

Q2. Design Linked Incentive (DLI) Scheme is implemented by which ministry ?

1. a) Ministry of Commerce and Industry
2. b) Ministry of Heavy Industries
3. c) Ministry of Science and Technology
4. d) Ministry of Electronics and Information Technology

Q3. World Braille Day is observed every year on which day ?

1. a) January 1
2. b) January 2
3. c) January 3
4. d) January 4

Q4. Rice cultivation in India is primarily associated with which of the following agro-climatic requirements ?

1. Temperature above 25°C
2. Rainfall between 100–200 cm
3. Low humidity and dry climate
4. Level or gently sloping floodplains

Select the correct answer using the code below :

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

Explanation-

• Rice requires warm temperatures, high rainfall, and high humidity.
• Level floodplains allow water retention, essential for paddy cultivation.
• Statement 3 is incorrect because rice does not thrive in dry, low-humidity conditions.

Q5. Consider the following statements regarding Operation Absolute Resolve conducted by the U.S. in Venezuela:

1. The operation involved coordinated air and ground strikes across northern Venezuela.
2. It resulted in the capture of President Nicolás Maduro and his wife.
3. The operation was primarily aimed at regime change to install Juan Guaidó as president.

Which of the statements given above is/are correct ?

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

Explanation-

• Statement 1 is correct: The operation involved airstrikes near Caracas and ground raids across northern Venezuela.
• Statement 2 is correct: President Maduro and his wife were captured and flown to the U.S. to face federal drug charges.
• Statement 3 is incorrect: The operation was justified by the U.S. as action against a narco-terrorist regime, not officially to install Guaidó, though he was the recognized interim president by the U.S.
• The Act also retains the no-fault liability principle, meaning the operator is liable for damage regardless of fault, ensuring victims are compensated quickly through compulsory insurance.