🇮🇳 National News
Union Minister Ashwini Vaishnaw announced the completion of the 2nd Mountain Tunnel (MT-6) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) project in Palghar, Maharashtra on February 3, 2026.
MT-6 is 454 metres long and 14.4 metres wide, built to carry both up and down tracks. It was excavated using the New Austrian Tunnelling Method (NATM), a drill-and-controlled blast approach.
This is the second tunnel breakthrough, following the MT-5 near Saphale, Maharashtra.
The Gujarat section is expected to begin commercial operations in 2027, reaching Thane by 2028 and full Mumbai connectivity by 2029.
The Ministry of Ports, Shipping and Waterways (MoPSW) signed two significant MoUs in New Delhi to establish the Bharat Container Shipping Line (BCSL) and to finance the Outer Harbour Project at V.O. Chidambaranar Port Authority (VoCPA), Thoothukudi, Tamil Nadu.
The BCSL MoU was signed among SCI, CONCOR, JNPA, VoCPA, Chennai Port Authority, and Sagarmala Finance Corporation Limited (SMFCL) to manage containerised cargo, which accounts for nearly two-thirds of India’s international trade value.
The Outer Harbour tripartite MoU between VoCPA, IRFC, and SMFCL provides for joint funding of up to Rs 15,000 crore for port capacity expansion under the Sagarmala Programme.
Containerised cargo accounts for nearly two-thirds of India’s international trade value. The BCSL aims to boost India’s presence in global container shipping.
The 13th edition of Exercise KHANJAR (KHANJAR-XIII) between India and Kyrgyzstan commenced on February 4, 2026, at Misamari, Sonitpur district, Assam, running till February 17, 2026.
The exercise involves the Parachute Regiment (Special Forces) of the Indian Army and Kyrgyzstan’s Scorpion Brigade.
Joint drills include:
- Urban warfare and counter-terrorism
- Sniping, reconnaissance, and surveillance
- Room intervention and mountain craft under a UN mandate
Exercise KHANJAR was initiated in 2011. The 12th edition was held in March 2025 at Tokmok, Kyrgyzstan.
NTPC Green Energy Limited (NGEL) and Assago Industries Private Limited signed an MoU to develop India’s first large-scale Green Urea production facility at the Pudimadaka Green Hydrogen Hub, near Visakhapatnam, Andhra Pradesh.
NGEL will supply green ammonia, captured CO2, and renewable energy to Assago’s 1,000 tonnes per day (TPD) green urea facility.
India imports 8-10 million tonnes (MT) of urea annually out of total consumption of 35-40 MT. The Pudimadaka hub is planned with a total capacity of 2.5 MTPA of green chemicals including green ammonia, methanol, SAF, and green urea.
Union Home & Cooperation Minister Amit Shah launched ‘Bharat Taxi’, India’s first cooperative-based ride-hailing platform, at Vigyan Bhavan, New Delhi, on February 5, 2026.
Registered under the Multi-State Cooperative Societies Act, 2002, and established on June 6, 2025, Bharat Taxi operates on a zero-commission and surge-free pricing model with direct profit distribution to drivers (Sarathis).
Key highlights:
- Over 3 lakh drivers have joined, with 1 lakh+ users registered and 10,000+ daily rides in Delhi-NCR and Gujarat
- Pilot began on December 2, 2025
- Key principle: ‘Sarathi Hi Malik‘ (driver is the owner)
- The ‘Bike Didi‘ initiative has enrolled 150+ women drivers
- Plans to expand to all states within two years
Gyalyum Ashi Dorji Wangmo Wangchuck, Queen Mother of Bhutan, was conferred the 22nd Upendra Nath Brahma ‘Soldier of Humanity’ Award 2025 at Bodoland University, Kokrajhar, Assam.
The award was presented by Assam Governor Lakshman Prasad Acharya in recognition of her lifelong humanitarian contributions through the Tarayana Foundation (rural development, women’s empowerment, education, healthcare).
The award was instituted in 2004 by the Upendra Nath Brahma Trust (established 1999), and honours individuals who have rendered exceptional humanitarian service.
PLASTINDIA 2026, the 12th International Plastics Exhibition, Conference & Convention, commenced on February 5, 2026, at Bharat Mandapam (Pragati Maidan), New Delhi, running until February 10.
Theme: ‘Bharat Next‘. Over 2,000 exhibitors from 80+ countries are showcasing innovations in machinery, raw materials, and circular economy solutions.
Organised with support from the Department of Chemicals & Petrochemicals and Ministries of Commerce and MSME.
The Indian plastic industry is valued at Rs 3-3.5 lakh crore. This edition is envisaged as the first Zero Waste exhibition.
💼 Business & Economy
On February 1, 2026, Finance Minister Nirmala Sitharaman tabled the 16th Finance Commission (FC) report in Parliament, with the government accepting the recommendation to retain states’ share in central taxes at 41% for the period 2026-31.
The 41% tax devolution has been in effect since 2021 under the previous Finance Commission recommendations.
Walmart Inc. became the first traditional retail company to achieve a market capitalisation of USD 1 trillion on February 3, 2026, as shares rose past $126.
Walmart’s shares rose ~26% over the past year and ~468% over the past decade. It was added to the Nasdaq-100 Index in December 2025.
Growth was driven by:
- AI-enabled supply chains
- Booming e-commerce with a 27% jump
- 53% advertising business growth
Other trillion-dollar companies include Nvidia, Apple, Microsoft, Amazon, and Meta.
Goldman Sachs raised India’s Calendar Year 2026 GDP growth forecast by 20 basis points to 6.9% (from 6.7%), following the US-India trade deal that reduced reciprocal tariffs from 25% to 18%.
| Indicator | Details |
|---|---|
| Revised GDP Forecast (CY26) | 6.9% |
| Previous Forecast | 6.7% |
| Goods Trade Surplus with US (CY25) | ~USD 40 billion |
| CAD Projection (CY26) | ~0.8% of GDP |
India’s goods trade surplus with the US doubled from ~USD 20 billion (CY15) to ~USD 40 billion (CY25), driven by electronics, pharmaceuticals, and textiles. Private capex recovery is expected in H2 CY26.
Equitas Small Finance Bank signed a bancassurance partnership with Bharti AXA Life Insurance (backed by Bharti Enterprises and France’s AXA) on February 3, 2026.
Bharti AXA Life will offer protection, savings, and retirement plans to Equitas SFB customers, focusing on semi-urban and rural areas where insurance adoption remains limited.
The RBI imposed a compounding fee of Rs 18.76 lakh on One 97 Communications Limited (OCL), the parent company of Paytm, under FEMA, 1999, for foreign investment-related contraventions.
The case involved investments of ~Rs 33 crore made by Little Internet Singapore into LIPL during March 2016 to June 2017.
📅 Important Days
World Interfaith Harmony Week (WIHW) is observed from February 1-7 each year to promote peace, nonviolence, and interfaith understanding worldwide.
It was proposed by King Abdullah II and Prince Ghazi bin Muhammad of Jordan during the 65th UNGA on September 23, 2010.
The UN designated WIHW through Resolution A/RES/65/5 on October 20, 2010. It was first observed on February 1-7, 2011. The observance is rooted in the ‘A Common Word‘ initiative launched in 2007.
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