Daily Current Affairs – February 2, 2026

Union Budget 2026: Government borrowing is now funding capital expenditure. This indicates better spending quality and a stronger deficit. The effective capital spending exceeds the fiscal deficit. This means borrowing is creating assets that will boost economic growth potential. This approach is a positive development for the nation's economy.

India Union Budget 2026: Nirmala Sitharaman's ninth budget emphasized continuity, focusing on GDP growth and increased capital expenditure. While fiscal consolidation continues slowly, the budget introduced a securities transaction tax hike on derivatives and taxed buybacks, aiming to curb speculation and tax arbitrage. Asset monetisation is also being prioritized over outright PSU privatization.

Terming the Budget as “anti-worker and pro-corporate”, he alleged that the Centre has completely sidelined the working class

Under the Baggage Rules, 2026, a resident or a tourist of Indian origin arriving in India other than by land, shall be allowed clearance free of duty articles, up to ₹75,000, if such articles are carried on the person or in the bona fide accompanied baggage of the passenger

A strong showing in Sunday’s (February 8, 2026) election would solidify Ms. Takaichi’s grip on her party and give her a mandate for ​her expansionary fiscal policy, which ⁠could heighten concerns about Japan’s finances and push bond yields higher

After the military snatched power in a coup on February 1, 2021, tens of thousands of public workers, including doctors and government administrators, left their posts in a surge of civil disobedience

Gold and other precious metals are experiencing significant drops. This decline is linked to increased margin requirements on futures trading set by CME. Investors are also reacting to President Donald Trump's choice for Fed chair, Kevin Warsh, and his potential approach to interest rates. Silver has reached a three-week low. The market is closely watching these developments.

The Indian central bank likely intervened before Monday's local spot market opening, preventing the rupee from nearing record low levels. Traders reported the central bank's actions helped shore up the currency to 91.77 per dollar, a gain of 0.2% from Friday's close. This intervention appears aimed at preventing a fall below the 92 mark.

The Union Budget allocates ₹250 crore to set up AVGC content creator labs across 15,000 schools and 500 colleges, aiming to formalize India’s fast-growing creator, animation and gaming ecosystem.

Union Budget 2026: Finance Minister Nirmala Sitharaman proposed a high-level committee on ‘Banking for Viksit Bharat’ as she highlighted strong balance sheets, record profitability and inclusive growth.

A victory against Bangladesh, coupled with Bhutan failing to beat Nepal in the later kick-off, will confirm India’s spot in the title clash

It was all-rounder Kanishk, whose quickfire 29-ball-35 and a 50-run stand for the eighth wicket with Khilan Patel (21 not out off 15 balls) took India U-19 to a decent 252 in 49.5 overs