1. FINANCE MINISTER TABLES ECONOMIC SURVEY 2025-26 IN PARLIAMENT
SUBJECT: ECONOMY
- GDP Growth Projection: Union Finance Minister Nirmala Sitharaman tabled the Economic Survey 2025-26, projecting a real GDP growth of 7.4% for the current fiscal year.
- Fiscal Stability: The survey highlights that India’s fiscal strategy has successfully anchored economic stability despite global trade volatility.
- Medium-term Outlook: The Survey has raised India’s medium-term growth potential to 7.0%, citing strong manufacturing and land reforms as key drivers.
- Consumption Dynamics: Private consumption remains the backbone of the economy, contributing 61.5% to the GDP, supported by stable rural demand.
- Global Risks: The report outlines a “grim” global outlook, estimating a 10-20% chance of a global financial crisis occurring in 2026 due to geopolitical churn.
- Concepts: Economic Survey – A flagship document of the Ministry of Finance reviewing the developments in the Indian economy; Real GDP – GDP adjusted for inflation.
2. TAMIL NADU CHALLENGES ED’S WRIT JURISDICTION IN SUPREME COURT
SUBJECT: POLITY
- Federalism Dispute: The Supreme Court has agreed to hear petitions from the Tamil Nadu Government challenging whether the Enforcement Directorate (ED) has legal standing to file writ petitions against State actions.
- Constitutional Question: The State argues that the ED, as an “instrumentality of the Union,” cannot invoke Article 226 to challenge State administrative decisions.
- Article 131 vs 226: The petition emphasizes that disputes between the Centre and States should strictly fall under Article 131 (Original Jurisdiction of the SC).
- Electoral Roll Revision (SIR): Political leaders in TN have approached the court regarding the Special Intensive Revision (SIR) of electoral rolls, alleging improper hearing notices.
- Governance Reform: The TN CM’s office highlighted new governance promises focusing on urban waste management and digital connectivity via BharatNet.
- Concepts: Article 226 – Power of High Courts to issue writs; Cooperative Federalism – The working relationship between Centre and States.
3. INDIA-EU FREE TRADE AGREEMENT (FTA) COMPLETED
SUBJECT: INTERNATIONAL
- Historic Milestone: Prime Minister Modi hailed the India-EU FTA as a milestone that transitions the partnership into a long-term economic solution.
- Tariff Reductions: Under the deal, EU tariffs on Indian textiles and leather will drop to zero, while India will reduce duties on European automobiles.
- Strategic Agenda: Both sides signed the India–EU Joint Comprehensive Strategic Agenda 2026–2030, focusing on Prosperity, Technology, Security, and Connectivity.
- Deforestation Regulation (EUDR): Experts caution that the upcoming EU Deforestation Regulation may challenge $1.3 billion of Indian agricultural exports.
- Mobility Framework: A new framework was signed to facilitate the movement of the Indian professional workforce to European nations.
- Concepts: FTA – An agreement to reduce trade barriers between nations; Strategic Autonomy – Making independent foreign policy decisions based on national interest.
4. PRESIDENT APPROVES GALLANTRY AWARDS ON REPUBLIC DAY FINALE
SUBJECT: DEFENCE
- Gallantry Awards 2026: President Droupadi Murmu approved gallantry awards for 70 Armed Forces and CAPF personnel, including six posthumous honors.
- Beating Retreat Ceremony: The formal conclusion of the Republic Day celebrations took place at Vijay Chowk, featuring indigenous martial tunes.
- Indigenization Targets: The Ministry of Defence confirmed India is on track to achieve ₹1.75 lakh crore in domestic defence production by the end of FY26.
- Defence Exports: India’s defence exports are projected to hit ₹35,000 crore annually by 2027, driven by modular electronic warfare systems.
- Aviation Safety: Following recent incidents, the DGCA has been urged to upgrade regional airstrips with advanced navigational aids.
- Concepts: Beating Retreat – A military tradition marking the end of Republic Day; iDEX – A scheme to foster innovation in the Indian Defence sector.
5. SUPREME COURT DIRECTS CBI TO PROBE ‘DIGITAL ARREST’ FRAUDS
SUBJECT: NATIONAL ISSUES
- Cyber Security Drive: The Supreme Court has directed the CBI to aggressively investigate ‘digital arrest’ scams where fraudsters pose as law enforcement.
- Mule Account Crackdown: The court empowered probes into banks handling “mule accounts” to fortify digital governance and protect citizens’ savings.
- National Security Links: Investigations suggest these cyber frauds often have cross-border links, impacting national security and financial stability.
- Public Awareness: The Home Ministry has launched a nationwide campaign to educate citizens that no law enforcement agency conducts arrests via video calls.
- Inter-agency Coordination: The directive mandates closer coordination between the Indian Cyber Crime Coordination Centre (I4C) and state police forces.
- Concepts: Digital Arrest – A cybercrime where victims are intimidated through video calls; I4C – India’s nodal agency to combat cybercrime.
