CURRENT AFFAIRS

The Idukki Hydroelectric Project, Kerala’s largest hydel power project, has completed 50 years of operation. Over five decades, the Moolamattom underground power plant has generated 115,852.672 million units (MU) of electricity, marking a historic milestone in India’s hydroelectric development.

The United States has revised its official factsheet on the India–US trade deal, softening language on India’s commitments and removing references to digital services taxes and tariff cuts on pulses. The joint statement has also been modified to reflect non-binding intent, signalling a recalibration of expectations on both sides.

The Union Budget 2026–27 announced the India Semiconductor Mission (ISM) 2.0, giving a new direction to India's technological aspirations. At a time when semiconductors 

India will host the AI Impact Summit 2026 from February 16 to 20, marking the first time this global AI governance forum is being held in the Global South.

The Reserve Bank of India’s Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 5.25%, maintaining the status quo on interest rates. Consequently, bank lending and deposit rates — and EMIs on home and personal loans — are expected to remain stable.

In the recently presented Union Budget 2026–27, the Finance Minister announced the launch of the Mahatma Gandhi Gram Swaraj Initiative (MGGSI), which aims to strengthen traditional sectors such as khadi, handloom, and handicrafts.

India’s electricity distribution companies (DISCOMs) have reported a notable financial and operational turnaround after years of persistent losses. While key indicators show improvement, concerns remain over the long-term sustainability of these gains, particularly due to continued dependence on State support and unresolved structural challenges.

Union Cooperation Minister Amit Shah has launched Bharat Taxi, India’s first cooperative-based ride-hailing platform, positioning it as a people-centric alternative to private cab aggregators such as Uber, Ola, and Rapido. The initiative aims to strengthen the cooperative movement, enhance driver autonomy, and offer affordable urban mobility through a driver-owned platform model.

The Union Minister of State for Electronics and Information Technology recently informed the Lok Sabha about the SAMRIDH Programme, highlighting its role in strengthening India’s startup ecosystem by supporting technology-based startups through accelerators and innovation networks.

The Ministry of Cooperation recently informed Parliament about the financial assistance released to cooperative societies and beneficiaries under the Yuva Sahakar Scheme during the period 2022–2025, highlighting the scheme’s role in promoting youth entrepreneurship in the cooperative sector.