1 Finance Minister Nirmala Sitharaman presented the Union Budget 2026-27 in the Lok Sabha
Finance Minister Nirmala Sitharaman stated that a total of ₹12.2 trillion (1.22 trillion rupees) has been allocated for capital expenditure, representing 4.4 percent of GDP. This is the highest allocation in the last 10 years. Its aim is to further strengthen structural reforms and economic growth. The Finance Minister stated that the government expects the fiscal deficit to be 4.3 percent of GDP in 2026-27, lower than the 4.4 percent estimated for the current financial year. The country’s defense budget has been increased from ₹6.81 trillion to ₹7.85 trillion, representing a 15.2% increase in the total defense budget. ₹1 trillion will be spent on healthcare . Import duties on 17 cancer drugs have been waived . Content creator labs will be established in 15,000 secondary schools and 500 colleges . It was announced that one girls’ hostel will be built in every district of the country . Seven high-speed rail corridors were announced. The opening of three Ayurvedic AIIMS was announced. Presenting the Union Budget 2026-27 in Parliament, Union Finance Minister Nirmala Sitharaman stated that India will focus on strengthening the Orange Economy. She also stated that the AYUSH sector will receive a new dimension. Regarding the Orange Economy, she stated that the Animation, Visual Effects, Gaming, and Comics (AVGC) sector is a rapidly emerging industry in the country. Presenting the budget in Parliament, the Finance Minister stated that this sector will require approximately two million professionals by 2030. According to academics, creativity, culture, digital content, and innovation-based industries will be encouraged under the Orange Economy.
2 Budget 2026 expands Lakhpati Didi scheme; rural women to become enterprise owners, ‘She Marts’ announced
Union Finance Minister Nirmala Sitharaman announced the expansion of the ” Lakhpati Didi ” program for the economic empowerment of rural women in the Union Budget 2026. She stated that the government will no longer limit women to debt-based livelihoods, but will instead help them become owners of their own enterprises . The Finance Minister explained that under this initiative, ” Self-Help Entrepreneur Marts, ” also known as ” She Marts, ” will be established. These will be community-owned retail outlets operating within cluster-level federations. They will be supported with improved and innovative financial assistance to enable women to take the next step in entrepreneurship.
3 Air Marshal Inderpal Singh Walia takes over as AOC-in-C, Eastern Air Command
Air Force Marshal Inderpal Singh Walia assumed charge as the Air Officer Commanding-in-Chief of the Eastern Air Command in New Delhi . He was commissioned into the fighter aircraft division of the Indian Air Force in June 1988. The Air Force officer is proficient in flying all variants of the MiG-21, MiG-23, MiG-27, Jaguar, and Su-30MKI. He has also been awarded the Vayu Sena Medal and the Ati Vishisht Seva Medal.
4. Thaipusam festival in the Tamil community
Thaipusam is a Hindu festival celebrated with great pomp and show in South India during the Tamil month of Thai , between January and February each year . This festival is dedicated to the worship of Lord Kartikeya, the son of Lord Shiva and Goddess Parvati , who is worshipped as Lord Murugan in South India . Thaipusam is primarily celebrated by the Tamil community in South India. It is also celebrated in countries with Tamil communities, such as Mauritius, Singapore, and Malaysia . Thaipusam is also known by various names, including Thaipusam, Thapusam, Thaipooyam, and Thaippooyam. In South India, Lord Murugan is also worshipped by his devotees as Skanda, Subrahmanya, and Sanmukha. Thaipusam is known as the festival of good over evil. According to Hindu mythology, in ancient times, there was a powerful demon named Soorapadman, who, through his asceticism, acquired various powers and wreaked havoc in the three worlds. Troubled by Surapadman, the gods and goddesses expressed their plight to Lord Shiva. Subsequently, Lord Murugan was born as the son of Lord Shiva and Goddess Parvati.
5 Indian Institute of Foreign Trade Ranked 1st in Times B-School Rankings 2026
The Indian Institute of Foreign Trade (IIFT) has been ranked first in the Times B-School Rankings 2026 as the best business school in the country . This further strengthens its position as a premier institute in the field of management education with a special focus on international trade and global business. IIFT is an autonomous institute under the Ministry of Commerce and Industry, Government of India. Its campuses are located in Delhi, Kolkata, Kakinada, and GIFT City. Established in 1963, the Indian Institute of Foreign Trade (IIFT) is a deemed university under the Ministry of Commerce and Industry, Government of India. As a premier institute in the field of international trade and business, IIFT offers excellent MBA programs, executive education, and doctoral research. It contributes to India’s development in global commerce and trade policy.
6 Assam Chief Minister Eti Koli Duti Pat Scheme
The state of Assam has announced a new financial assistance scheme , marking a significant welfare measure for its tea plantation communities . The Assam government has launched the Mukhya Mantrir Eti Koli Duti Paat Scheme, which will provide one-time financial assistance to tea plantation workers across the state. This initiative recognizes the historical contribution of tea workers to Assam’s economy and aims to strengthen social security, dignity, and inclusive growth in tea-producing areas. More than ₹300 crore will be disbursed under the Eti Koli Duti Paat Scheme, which will provide one-time assistance of ₹5,000 to over 600,000 tea plantation workers.
7 Digitization of the Pechora missile system
India has taken another strong step towards defense modernization. In January 2026, the Indian Air Force ‘s Pechora missile system , inducted in the 1970s , was fully digitized through indigenous upgrades. This modernization significantly improved its operational capabilities and extended its service life. The Pechora is a surface-to-air missile (SAM) system inducted into the Indian Air Force in the 1970s . Originally of Russian origin, it has been a vital part of India’s air defense infrastructure for nearly five decades. Known for its robustness and reliability, the system was designed to engage enemy aircraft flying at low to medium altitudes. However, rapid technological advances had rendered many of its analog components obsolete, necessitating extensive modernization to maintain its operational relevance. This modernization program was carried out by Bengaluru -based private defense company Alpha Design Technologies . The company had signed a contract worth ₹591.3 crore for this upgradation work on September 25, 2020.
8 Pramit Jhaveri to step down as trustee of Sir Dorabji Tata Trust
On January 31 , Pramit Jhaveri, a trustee of the Sir Dorabji Tata Trust, announced his resignation as trustee . He wrote to Tata Trust Chairman Noel Tata, requesting that his name not be reconsidered upon the completion of his term. The 56-year-old’s term ends on February 11, 2026, and he will then step down as trustee of the Sir Dorabji Tata Trust. Pramit joined the Sir Dorabji Tata Trust in February 2020 after retiring as CEO of Citibank in 2019. Pramit joined Citibank India in 1987 and served as CEO from 2010 to 2019. The Sir Dorabji Tata Trust (SDTT) was established in 1932 to provide assistance to individuals in areas such as education, health, and employment. The Sir Dorabji Tata Trust, along with the Sir Ratan Tata Trust, holds a stake in Tata Sons, the holding unit of the Tata Group. The Board of Trustees of the Sir Dorabji Tata Trust includes Noel Tata, Venu Srinivasan, Vijay Singh, Jimmy N Tata, Jehangir HC and Darius Khambata.
9 Carlos Alcaraz completed his career Grand Slam by winning the men’s singles title at the Australian Open tennis tournament.
World number one Carlos Alcaraz of Spain has won the men’s singles title of the Australian Open Tennis Tournament . In the title match, Alcaraz defeated Serbian star Novak Djokovic 2-6, 6-2, 6-3, 7-5. With this victory, 22-year-old Carlos Alcaraz has become the youngest male player ever to complete the Career Grand Slam . In the tournament, Elena Rybakina had won the women’s singles title by defeating Aryna Sabalenka.
10 India’s Devika Sihag won the women’s singles title at the Thailand Masters badminton tournament.
Young Indian badminton player Devika Sihag won the women’s singles title of the Thailand Masters badminton tournament . Devika won her first BWF Super 300 title after Malaysia’s Goh Jin Wei retired from the match midway in the final . The 20-year-old from Haryana was leading 21-8, 6-3 when world number 68 and two-time world junior champion Goh decided to withdraw from the match due to a hamstring strain. Devika has been in great form of late. She won her first international title at the Malaysia International in August 2025.
11 International Zebra Day
International Zebra Day is celebrated every year on January 31st . It aims to raise awareness about the conservation of zebras, one of the Earth’s most distinctive animals. Famous for their black and white stripes, zebras face serious threats in the wild. This day highlights the urgent need to protect the zebra species from habitat loss, poaching, and declining populations. The occasion inspires people around the world to understand zebra conservation and support efforts to save this iconic African creature.
12 Canadian-American actress Catherine O’Hara passes away
On January 30, Canadian-born American actress Catherine O’Hara died at the age of 71. Catherine had a rare heart condition since birth, called dextrocardia with situs inversus . Catherine’s heart was in the right side of her chest, while the rest of her organs were on the left side. O’Hara was best known for her lead roles in the films Home Alone and Beetlejuice . In 2020, Catherine received an Emmy Award for the TV show ‘ Schitt’s Creek ‘. Catherine’s career began in the 1970s with the Second City comedy group in Toronto . In 2017, she received the highest civilian honour of Officer of the Order of Canada .