In the Union Budget 2026–27, the government allocated ₹95,692.31 crore to the Viksit Bharat‑Guarantee for Rozgar and Ajeevika Mission (Gramin) — a new rural employment programme replacing the long‑standing MGNREGA scheme. The mission, part of the broader Viksit Bharat 2047 vision, promises up to 125 days of work annually for rural households, strengthening livelihood and infrastructure in villages. Alongside, MGNREGA received ₹30,000 crore during the transition year. The combined focus on rural jobs reflects an effort to intensify employment support and uplift agrarian communities across India. (PC: The Hindu)

In early hours of 1 February 2026, unidentified attackers fired four to five shots outside Bollywood director Rohit Shetty’s Juhu residence in Mumbai; no injuries were reported. The notorious Lawrence Bishnoi gang claimed responsibility via social‑media posts by associates, naming individuals linked to the firing and issuing threats against Shetty and the film industry if warnings were ignored. Police have detained five suspects in Pune with alleged links to the gang, and authorities have launched a comprehensive investigation, deploying forensic teams and heightened security around the property. Motive remains under inquiry. (PC: PTI)

In the Union Budget 2026–27, Finance Minister Nirmala Sitharaman significantly increased India’s defence spending, boosting the total allocation to about ₹7.84–7.85 lakh crore, roughly 15% higher than last year’s budget. A capital outlay of ₹5.95 lakh crore — a 22% rise — was earmarked for modernisation, including aircraft, missiles, naval assets and drones to strengthen operational capabilities post Operation Sindoor. This surge also allocates substantial funds for pensions and revenue needs. The enhanced budget underscores New Delhi’s focus on military readiness, advanced technology acquisition and bolstering national security amid regional tensions. 

Billionaire Elon Musk spotlighted International Monetary Fund (IMF) projections showing a major shift in the global economic landscape in 2026, emphasizing that “the balance of power is changing.” According to IMF data, China and India together are expected to contribute about 43.6% of global real GDP growth, with China at 26.6% and India at 17%, markedly higher than the United States’ 9.9% share. The chart Musk shared on social media underlines an eastward shift in growth drivers, with Asia-Pacific economies leading global expansion amid ongoing geopolitical and trade tensions. (PC: Reuters)

In the Union Budget 2026–27, India made no allocation for the strategically important Chabahar port project in Iran, marking a significant shift from previous years when funds were regularly set aside for its development. The Chabahar port, located on the Gulf of Oman, has been a key element of India’s regional connectivity strategy, offering access to Afghanistan and Central Asia while bypassing Pakistan. Analysts link the absence of funding to escalating tensions between the United States and Iran and renewed U.S. sanctions, which have complicated India’s role in the project. The budget also reflects broader reorientation of foreign aid priorities. (PC: X)

Carlos Alcaraz won the Australian Open tennis title and completed his Career Grand Slam after defeating Novak Djokovic in the final in Melbourne. The 22-year-old beat the 10-time champion 2-6, 6-2, 6-3, 7-5 at Rod Laver Arena. He became the youngest men’s player to win all four Grand Slam singles titles. The win gives Alcaraz his seventh major crown. Djokovic, 38, was chasing a record 25th Grand Slam title but fell short after taking the first set. Alcaraz raised his baseline game and secured key breaks from the second set onward. Djokovic later congratulated him at the net. (PC: BBC)

A wave of coordinated militant attacks across Pakistan’s southwestern Balochistan province has become one of the deadliest in years, killing over 150 people, including civilians, security personnel and militants, officials said. Militants of the Baloch Liberation Army struck multiple locations — including Quetta, Gwadar and other towns — targeting security installations, banks and public sites. Pakistan’s military launched intense counter-operations, killing scores of militants and imposing sweeping security restrictions, including cutting mobile internet services to curb coordination. Islamabad vowed retaliation, while India rejected accusations of involvement in the unrest. (PC: Reuters)

In the Union Budget 2026–27, Finance Minister Nirmala Sitharaman mentioned 14 states, outlining major development projects tied to infrastructure, industry, tourism and connectivity. Poll-bound states like West Bengal, Tamil Nadu, Kerala and Assam received targeted initiatives including high-speed and freight rail corridors, eco-tourism trails, and cultural circuit schemes. Critical mineral rare earth corridors were announced for Odisha, Andhra Pradesh, Tamil Nadu and Kerala, aiming to boost domestic manufacturing. Northeastern states will benefit from a Buddhist Circuit tourism plan, while northern hill regions like Himachal Pradesh, Uttarakhand and J&K get mountain train and hiking projects, enhancing region-specific growth. (PC: The Hindu)

The government rejected opposition criticism of Union Budget 2026 and asked for a debate based on “facts and figures”. Finance Minister Nirmala Sitharaman said allegations over market losses and scheme renaming lack substance. She said rural development spending has increased and allocations support welfare goals. Market weakness on Budget day was linked by officials to the higher securities transaction tax on futures and options trades. The renaming of the rural jobs scheme to Mahatma Gandhi Gram Swaraj Abhiyan triggered political protests. Opposition leaders called it ideological. The government said the focus remains on delivery and funding, not labels or narratives. (PC: X)

Carlos Alcaraz won the Australian Open 2026 tennis title and completed his Career Grand Slam with a four-set victory over Novak Djokovic in the final. Alcaraz beat the 10-time champion 2-6, 6-2, 6-3, 7-5 at Rod Laver Arena on Sunday. He is now the youngest men’s player in tennis to win all four Grand Slam singles titles. Djokovic was chasing a record-extending 25th major crown but could not hold his early lead. Alcaraz raised his level after the first set and took control of long rallies. He secured a late break in the fourth set and served out the match. (PC: India Today)