Daily Current Affairs (12 – Feb – 26)

Daily Current Affairs (12 – Feb – 26)

1. India’s Agri Exports to US Set to Rise as 75% Items Get Zero Tariff: SBI Report  –

• India’s agricultural exports to the United States are expected to witness a strong boost, with nearly 75% of export items now enjoying zero tariff access, according to a report by State Bank of India (SBI).
• The report highlights that India currently maintains a $1.3 billion trade surplus in agricultural trade with the US. Agricultural products worth $1.36 billion will now receive zero additional US duty access, improving price competitiveness and expanding market opportunities for Indian exporters.

Key Highlights of the SBI Report

• 75% of Indian agri exports to the US now face zero tariff
• Agricultural products worth $1.035 billion assured zero reciprocal tariff
• Strengthens India’s existing $1.3 billion agricultural trade surplus
• Enhances competitiveness and export volumes

Major Beneficiary Sectors

• Rice 
• US global rice imports: $1.378 billion
• Imports from India: $341 million
• India’s share: 24.7%
• The US already sources nearly one-fourth of its rice imports from India, making tariff benefits highly significant for Indian farmers.
• Fishery Sector 
• US global imports (fish & aquatic invertebrates): $18.84 billion
• Imports from India: $1.8 billion
• India’s share: 9.6%
• The fishery sector, earlier affected by higher tariffs, is expected to gain from the reduced tariff structure (around 18%), improving export prospects.
• Tea, Coffee & Spices 
• US global imports: $14.02 billion
• Imports from India: $396 million
• India’s share: 2.8%
• The new tariff framework is expected to support India’s plantation economy and boost exports in this segment.  

2. Defence Acquisition Council Clears ₹25 Lakh Crore Deal for 114 Dassault Rafale Jets –

• In a major boost to India’s air power, the Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, has granted initial approval for the procurement of 114 Rafale fighter aircraft.
• The proposed deal, estimated at ₹3.25 lakh crore, comes ahead of French President Emmanuel Macron’s visit to India from February 17. The acquisition is expected to further strengthen India–France defence ties.

Key Features of the Deal

• Procurement of 114 Rafale multirole fighter jets
• Estimated cost: ₹3.25 lakh crore
• Technology transfer from Dassault Aviation
• Planned production in India
• Indigenous weapon systems, radars, and ammunition integration
• The deal had earlier received approval from the Defence Acquisition Board. The final agreement will require clearance from the Cabinet Committee on Security (CCS) before signing.

3. India’s Retail Inflation at 2.75 Percent in January 2026 Under New CPI Series (Base 2024 = 100) –

• India’s retail inflation stood at 2.75 percent in January 2026 under the new Consumer Price Index (CPI) series with base year 2024 = 100, as released by the Ministry of Statistics and Programme Implementation (MoSPI).
• This is the first inflation data released under the updated CPI framework, replacing the earlier 2012 base year.

Inflation Data – January 2026 (Provisional)

• All India CPI Inflation
• 75 percent
• Rural and Urban Inflation
• Rural: 2.73 percent
• Urban: 2.77 percent
• Food Inflation (CFPI)
• Overall: 2.13 percent
• Rural: 1.96 percent
• Urban: 2.44 percent
• Housing Inflation
• Overall: 2.05 percent
• Rural: 2.39 percent
• Urban: 1.92 percent

4. Uttar Pradesh Presents ₹13 Trillion Budget for 2026–27, Outlay Up 12.2% –

• The Government of Uttar Pradesh has presented a ₹9.13 trillion Budget for the financial year 2026–27, reflecting an increase of 12.2% over the previous year’s outlay. The Budget was tabled in the State Assembly by Finance Minister Suresh Khanna.
• The Budget focuses on fiscal discipline, infrastructure development, employment generation, and strengthening social sectors such as education, health, and agriculture.

Fiscal Management and Deficit Target

• The Finance Minister stated that the state government remains committed to prudent fiscal management and debt control.
• In line with the recommendations of the Sixteenth Finance Commission, the fiscal deficit limit for 2026–27 has been fixed at 3% of Gross State Domestic Product (GSDP). This ceiling will remain applicable until 2030–31.
• Maintaining fiscal discipline is aimed at ensuring sustainable growth while managing borrowing levels effectively.

Sector-Wise Allocations

• Key allocations in the Budget include:
• Education: 4% of total outlay
• Health: 6% of total outlay
• Agriculture and allied services: 9% of total outlay
• The emphasis on education and agriculture highlights the government’s focus on human capital and rural development.

5. Which Country has the Most Arable Land. Check the List of Top-5 Countries –

• Arable land means land that can be used to grow crops such as wheat, rice, maize, and vegetables. Countries that have more fertile farmland usually produce more food and play a very important role in feeding the world. In 2026, population growth and climate change have made productive land more valuable than ever.
• Some nations have huge natural plains, while others depend on technology to increase production.

List of Top-5 Countries with the Most Arable Land in 2026

• India holds the title of the country with the most arable land with 154 million hectares of Arable Land, followed by United States, Russia and China.

MCQ Quiz

Q1. Almatti Dam, that was recently seen in news, is located on which river ?

1. a) Godavari
2. b) Krishna
3. c) Kaveri
4. d) Narmada

Q2. Which team won the 79th National Football Championship for the Santosh Trophy ?

1. a) Services
2. b) Assam
3. c) Railways
4. d) Kerala

Q3. The SCALP missile (Storm Shadow) is jointly developed by France and which country ?

1. a) Germany
2. b) Russia
3. c) China
4. d) United Kingdom

Q4. egarding Urban Co-operative Banks (UCBs), consider the following statements:

• They operate on the principle of mutual help and local participation.
• The Banking Regulation (Amendment) Act, 2020 decreased the RBI’s powers over UCB governance.
• UCBs primarily serve small borrowers, traders, and MSMEs in urban areas.

How many of the statements given above are correct ?

1. a) Only one
2. b) Only two
3. c) All three
4. d) None

Explanation-

• Statement 1 is correct; UCBs are member-owned and function on co-operative principles like mutual help and democratic control.
• Statement 3 is correct, as their core mission is providing credit to MSMEs, small traders, and salaried employees who may be excluded from mainstream commercial banking.
• Statement 2 is incorrect because the Banking Regulation (Amendment) Act, 2020 actually increased and strengthened the RBI’s powers over UCBs, particularly regarding their management, audit, and resolution. This was done to address governance failures and protect depositors’ The recent proposal to reopen licensing reflects a shift towards a more regulated and professionalized co-operative banking sector.

Q5. With respect to soaps and detergents, which of the following statements is/are correct ?

• Soaps are sodium or potassium salts of long-chain fatty acids, while detergents are primarily derived from petrochemicals.
• Detergents are more effective cleaning agents in hard water compared to soaps.
• The manufacturing process of both soaps and detergents involves a step called ‘saponification’.

How many of the above statements are incorrect ?

1. a) Only one
2. b) Only two
3. c) All three
4. d) None

Explanation-

• Statement 1 is correct. Soaps are produced from natural sources like vegetable oils or animal fats, and are chemically sodium or potassium salts of fatty acids. In contrast, detergents are synthetic cleaning agents, with their primary raw materials being hydrocarbons derived from petroleum.
• Statement 2 is also correct. Soaps react with the calcium and magnesium ions present in hard water to form an insoluble precipitate (scum), which reduces their cleaning efficiency. Detergents, on the other hand, do not form such precipitates and thus maintain their cleaning action in hard water.
• Statement 3 is incorrect. Saponification is the chemical reaction used to produce soap, where fats or oils react with an alkali (like NaOH). The manufacturing process for detergents involves different chemical reactions, such as sulphonation, and does not use the saponification process.