UPSC current affairs · Tuesday

Current Affairs, 24 February 2026

7 issues picked from 68 PIB releases · about 2 minutes each · written by UPSC Grade, each fact checked against its PIB release or by a second model

How to readRead “Why in news” and “What it is” for every issue. Open For Prelims or For Mains for the exam you’re preparing for, then Test yourself at the foot of each card. Half the news questions in Prelims are answered from background, not the news itself.

In 60 seconds

Alteration of State Name (Article 3) - Kerala to Keralam. Cabinet clears renaming Kerala as Keralam; Bill goes first to the State Assembly under Article 3.
Minimum Support Price and CACP. CCEA fixes raw jute MSP at Rs 5,925 per quintal for 2026-27, up Rs 275.
GDP Base Year Revision (2022-23). MoSPI details new data sources, led by GST data, for the 2022-23 base GDP series.
Export Promotion Mission (EPM). Seven more Export Promotion Mission interventions launched; ten now operational, aimed at MSME exporters' finance and market access.
TRAI Recommendations on IMT Spectrum Auction. TRAI recommends auctioning all IMT spectrum, including 600 MHz, with lower net worth for new entrants.
India-GCC Free Trade Agreement. India and the GCC formally launched free trade agreement negotiations on 24 February 2026.
RAMP Programme and National MSME Council. MSME Council reviewed RAMP progress; Udyami Bharat Portal and MSME Technology Transfer Platform launched.

Law and statutory body

Alteration of State Name (Article 3) - Kerala to Keralam

GS2 PolityPrelims and Mains

Why in news: On 24 February 2026 the Union Cabinet approved renaming the State of Kerala as Keralam. The President will now refer the Kerala (Alteration of Name) Bill, 2026 to the State Legislature for its views under Article 3.
What it is: Article 3 lets Parliament, by ordinary law, form new States and alter the area, boundaries or name of existing States. A State's name is recorded in the First Schedule to the Constitution. Such a law needs the President's recommendation and a reference to the affected State Legislature, whose views are not binding.

Power to rename: Article 3 empowers Parliament to alter the name of any State by law.
Presidential recommendation: A Bill under Article 3 can be introduced in either House only on the President's recommendation.
Reference to State Legislature: The President refers the Kerala (Alteration of Name) Bill, 2026 to the Kerala Assembly for its views before introduction in Parliament.
Constitutional amendment status: Under Article 4, a law under Article 3 is not an amendment of the Constitution under Article 368, though it changes the First Schedule. It needs only a simple majority.

Don’t confuse with Article 3 vs Article 2: Article 2 covers admission or establishment of new States not already in the Union. Article 3 deals with existing States: new States, area, boundaries and names.

Don’t confuse with Article 3 vs Article 368: Article 3 changes are made by ordinary law (Article 4). Article 368 is the formal route for constitutional amendments.

Laws, judgments and statutory bodies: 30 Prelims questions since 2013 (what the law says, who chairs, legal basis). In Mains, 44 news-triggered questions, most in GS2, asking for provisions and challenges.

Test yourselfMains

Source: PIB, Cabinet, 24 Feb, 15:20 IST · Release 284815

Issue page →

Worth revising until Prelims 2027: most news questions come within two years of the event.

Economy

Minimum Support Price and CACP

GS3 AgricultureGS2 Statutory bodiesPrelims and Mains

Why in news: On 24 February 2026 the Cabinet Committee on Economic Affairs approved the MSP of raw jute (TD-3 grade) at Rs 5,925 per quintal for the 2026-27 marketing season.
What it is: Minimum Support Price is the price at which the government stands ready to buy mandated crops from farmers. The Union Government announces it on the advice of the Commission for Agricultural Costs and Prices (CACP). Raw jute is one of the mandated crops, and its MSP is backed by price support operations run by a central nodal agency.

Return over cost: The MSP gives a 61.8 percent return over the all-India weighted average cost of production.
1.5 times principle: MSP is fixed at least 1.5 times the all-India weighted average cost of production, as announced in Budget 2018-19.
Nodal agency: Jute Corporation of India (JCI) continues as the central nodal agency for price support operations. The Centre fully reimburses any losses.
Who approves MSP: The CCEA approves MSP on the recommendation of CACP, which is a statutory-status-less advisory body under the Agriculture Ministry.
Who recommends: CACP recommends MSPs. The Centre decides after considering views of State Governments and Central Ministries.
Status of CACP: CACP is an attached office of the Ministry of Agriculture and Farmers Welfare. It has a statutory-like advisory role but no statutory backing; MSP itself has no legal guarantee.

Don’t confuse with MSP vs Fair and Remunerative Price (FRP): MSP applies to mandated crops like jute. FRP is the minimum price mills must pay for sugarcane.

Don’t confuse with JCI vs FCI/NAFED: JCI handles jute price support. FCI mainly handles wheat and rice, and NAFED handles pulses and oilseeds.

Don’t confuse with MSP vs FRP: MSP applies to 22 crops on CACP advice. FRP is the minimum price mills must pay for sugarcane.

Don’t confuse with MSP vs procurement: MSP is announced for 22 crops, but actual government procurement is concentrated in a few, mainly wheat and paddy.

Economy terms and data: 42 Prelims questions since 2013, rising in recent years; they test what a term or instrument means. In Mains, 12 news-triggered questions.

Test yourself

True or false?

1 of 12

Statements the way Prelims prints them. Say first, then see the fact.

1.The Minimum Support Price of raw jute for the 2026-27 marketing season has been fixed at Rs 5,925 per quintal.
2.The approved MSP of raw jute gives farmers a return of 61.8 percent over the all-India weighted average cost of production.
3.The 2026-27 raw jute MSP was fixed at twice the all-India weighted average cost of production, as announced in Budget 2018-19.
4.The Food Corporation of India has been named the nodal agency for price support operations in raw jute.
5.Losses incurred by the nodal agency in jute price support operations are to be fully reimbursed by the Central Government.
6.The raw jute MSP for 2026-27 is Rs 275 per quintal higher than the previous marketing season.
7.MSP for mandated crops is announced by the Commission for Agricultural Costs and Prices on its own authority.
8.MSP is announced for 22 mandated crops, including two commercial crops.
9.Sugarcane is among the 22 mandated crops for which MSP is fixed by the Centre.
10.Rabi crops among the mandated crops include wheat, barley, gram, masur, rapeseed and mustard, and safflower.
11.CACP fixes MSPs on its own and the Union Government has no role in the final decision.
12.MSP carries statutory legal backing under which private traders must pay at least MSP.

Written by us from the release, not by UPSC; checked by a second model.

Source: PIB, Cabinet Committee on Economic Affairs (CCEA), 24 Feb, 15:37 IST · Release 284822

Issue page →

Worth revising until Prelims 2027: most news questions come within two years of the event.

Economy

GDP Base Year Revision (2022-23)

GS3 National income accountingPrelims and Mains

Why in news: On 24 February 2026 MoSPI released the report of the Sub-Committee on Incorporation of New Data Sources, Rates and Ratios for the GDP base year revision to 2022-23. The new series is due on 27 February 2026.
What it is: The base year is the reference year whose prices and structure are used to measure real output and to weight indices. India revises it every several years so that GDP, IIP and price indices reflect the current economy. The previous GDP series used 2011-12 as base.

New base year: GDP base year changed from 2011-12 to 2022-23; revised estimates released on 27 February 2026.
Classification used: GDP compilation uses National Industrial Classification (NIC)-2025.
CPI 2024 series: The CPI 2024 series introduces Computer Assisted Personal Interviewing (CAPI) for price collection using handheld devices.
IIP new base: The new IIP series has base year 2022-23, with wider coverage and updated weights.
Nowcasting: Economic Survey 2025-26 presents a nowcasting framework using high-frequency indicators to give early GDP growth estimates before official quarterly data.
Monthly Economic Review: The Department of Economic Affairs publishes the Monthly Economic Review.
Release date: The new series is scheduled for release on 27 February 2026.
Data sources sub-committee: It was headed by Manish Sinha, CEO of GSTN, with members from academia, Centre, States and RBI.
GST data use: GST outward supplies data will be used to allocate GVA of private corporations among States/UTs.
ASUSE and PLFS: Household sector and quasi-corporation GVA is now compiled from ASUSE (annual since 2021-22) and PLFS (since 2017-18), removing the need to extrapolate base-year estimates.
Advisory Committee: ACNAS, chaired by Prof. B.N. Goldar, advised on methodology and new data sources.
Double deflation: Output and intermediate consumption are deflated separately to get Value Added at constant prices; used for manufacturing industries.
Deflators used: The new series uses CPI (Base 2024), UVI (Base 2022-23) and WPI (Base 2022-23) or PPI when available.

Don’t confuse with Real vs nominal GDP: Real GDP is measured at base-year (constant) prices; nominal GDP at current prices.

Don’t confuse with GDP vs GVA: GVA is output minus intermediate consumption; GDP equals GVA plus product taxes minus product subsidies.

Don’t confuse with GVA vs GDP: GDP equals GVA plus product taxes minus product subsidies.

Don’t confuse with PFCE vs GFCF: PFCE is household consumption spending; GFCF is investment in fixed assets.

Don’t confuse with Double deflation vs single deflator: Single deflator uses one price index for the whole sector; double deflation deflates output and inputs separately.

Economy terms and data: 42 Prelims questions since 2013, rising in recent years; they test what a term or instrument means. In Mains, 12 news-triggered questions.

Test yourself

True or false?

1 of 17

Statements the way Prelims prints them. Say first, then see the fact.

1.The revised GDP series released in February 2026 uses 2022-23 as its base year.
2.The CPI 2024 series introduces Computer Assisted Personal Interviewing for price data collection.
3.The Monthly Economic Review is published by the Department of Economic Affairs.
4.Nowcasting uses high-frequency indicators such as GST collections, e-way bills and electricity consumption to estimate economic activity before official quarterly GDP data.
5.Changing the base year of GDP changes the year whose prices are used to calculate nominal GDP.
6.The Advisory Committee on National Accounts Statistics for the revision was chaired by Manish Sinha.
7.In the new series, GST data will be used to allocate the GVA of private corporations among States and UTs.
8.In the 2011-12 series, GST data was not used in any national accounts compilation.
9.ASUSE has been conducted annually by MoSPI since 2021-22.
10.PFCE benchmark estimates in the new series are based mainly on the Annual Survey of Industries.
11.For GVA of private NBFCs, the new series replaces proxy-based loan growth with actual financial data from the Ministry of Corporate Affairs database.
12.The new GDP series of India uses 2022-23 as its base year.
13.Under double deflation, only the output is deflated by a price index, while intermediate consumption is kept at current prices.
14.In the new series, double deflation is adopted for various industries in the manufacturing sector.
15.The new series uses Unit Value Indices at commodity-group level to deflate exports and imports of goods.
16.The Advisory Committee on National Account Statistics for the new series was chaired by Prof. B.N. Goldar.
17.National Accounts Statistics in India are compiled and released by the Reserve Bank of India.

Written by us from the release, not by UPSC; checked by a second model.

Source: PIB, Ministry of Statistics & Programme Implementation, 24 Feb, 18:43 IST · Release 284841

Issue page →

Worth revising until Prelims 2027: most news questions come within two years of the event.

Scheme

Export Promotion Mission (EPM)

GS3 Economy, external sectorPrelims and Mains

Why in news: On 24 February 2026, the Government said seven more interventions have been launched under the Export Promotion Mission. Ten of the Mission's interventions are now operational.
What it is: The Export Promotion Mission (EPM) is a Commerce Ministry mission that bundles financial and non-financial support for exporters into one framework. It is run through DGFT with Export Promotion Councils and industry bodies as partners. It covers areas such as export credit, factoring, warehousing and logistics, certification, trade intelligence and market access.

Rollout status: Ten EPM interventions are already rolled out. The branding component is still under stakeholder consultation.
Interest subvention: After industry feedback, interest subvention was extended to small and micro exporters on identified tariff lines.
Committee schedule: The Norms Committee, Policy Relaxation Committee, EPCG Committee and Exim Facilitation Committees will meet fortnightly. The SCOMET inter-ministerial group meets monthly.
District Export Hubs drive: A 90-day activation drive for District Export Hubs began on 1 June 2026, using District Export Promotion Committees and District Export Action Plans.
Implementing agency: DGFT, under the Ministry of Commerce and Industry, is the main agency for foreign trade policy and facilitation.
EPM period: The Export Promotion Mission is approved for FY 2025-26 to FY 2030-31, aimed at export competitiveness, especially for MSMEs.
RELIEF outlay: RELIEF has a financial outlay of Rs 497 crore under EPM, to support exporters amid West Asia logistics disruptions.
Cover for already insured consignments: Exporters with ECGC cover for eligible consignments get up to 100% risk coverage over and above existing cover, for 14 Feb to 15 Mar 2026.
Support for upcoming consignments: For 16 Mar to 15 Jun 2026, exporters are encouraged to take ECGC cover, with Government support for up to 95% risk coverage over existing cover.
Reimbursement for non-insured MSMEs: Eligible MSME exporters without ECGC insurance get partial reimbursement of up to 50% of freight and insurance surcharge burden, capped at Rs 50 lakh per exporter.
Two sub-schemes: EPM has NIRYAT PROTSAHAN for trade finance (interest subvention, factoring, collateral guarantees) and NIRYAT DISHA for other enablers (quality, branding, market access, logistics, trade intelligence).
Nodal agency: ECGC Ltd, wholly owned by the Government of India under the Commerce Ministry, verifies claims, pays out and monitors RELIEF.
Outlay: RELIEF has an approved outlay of Rs 497 crore, funded under EPM.
Cover for existing ECGC policyholders: Exporters with ECGC cover get up to 100% extra risk coverage for consignments from 14 Feb to 15 Mar 2026.
Cover for future shipments: For consignments from 16 Mar to 15 Jun 2026, government support covers up to 95% risk coverage over existing ECGC cover.
MSME reimbursement: Non-ECGC-insured MSME exporters can get up to 50% partial reimbursement of freight and insurance surcharges, capped at Rs 50 lakh per exporter.
Review: The EPM Steering Committee will review RELIEF periodically and may modify, continue or withdraw it.
Approval and outlay: The Government approved EPM in November 2025. Its outlay is ₹25,060 crore for FY 2025-26 to FY 2030-31.
LIFT: LIFT supports hinterland exporters on transport costs. It covers up to 30% of the cost, capped at ₹20 lakh per exporter per year.
Two verticals: EPM combines financial support under Niryat Protsahan with trade ecosystem support under Niryat Disha, in a digitally monitored framework.
TRACE: Reimburses 60% (Positive List) or 75% (Priority Positive List) of testing, inspection and certification costs, up to ₹25 lakh per IEC a year.
Status: With this launch, 10 of the 11 proposed EPM interventions are operational.
Implementing ministries: Jointly implemented by the Department of Commerce, Ministry of MSME and Ministry of Finance.
Collateral guarantee: Offered with CGTMSE: cover up to 85% for Micro and Small exporters, 65% for Medium, with max guaranteed exposure of ₹10 crore per exporter per year.

Don’t confuse with EPC vs DGFT: Export Promotion Councils are industry-facing bodies of exporters that promote specific sectors. DGFT is the government office that administers foreign trade policy.

Don’t confuse with EPCG vs EPC: EPCG is the Export Promotion Capital Goods scheme allowing concessional duty on capital goods imports. EPC is a Council of exporters.

Don’t confuse with NIRYAT PROTSAHAN vs NIRYAT DISHA: PROTSAHAN deals with trade finance; DISHA covers non-financial enablers such as compliance, branding, market access, logistics and trade intelligence.

Don’t confuse with ECGC cover vs RELIEF support: ECGC is the credit insurer; RELIEF is a Government intervention that adds cover on top of ECGC's existing cover or reimburses costs for uninsured MSMEs.

Don’t confuse with ECGC vs EXIM Bank: ECGC insures exporters against non-payment and political risk. EXIM Bank is a financial institution that lends for trade.

Don’t confuse with RELIEF vs EPM: EPM is the umbrella mission. RELIEF is one time-bound intervention under it.

Don’t confuse with EPM vs earlier schemes: EPM replaces earlier schemes such as the Interest Equalisation Scheme and the Market Access Initiative, whose arrears are being cleared under it.

Schemes: 52 Prelims questions since 2013, 10 in Prelims 2026 alone. They test features, the period and who funds it. In Mains, 33 news-triggered questions, mostly GS3.

Why it matters

Brings exporter support schemes under one mission, helping use of FTA market access.
District-level hubs can bring new exporters and local products such as GI goods into exports.
Cushions exporters, especially MSMEs, from conflict-driven freight and insurance cost shocks.
Sustains shipment flows and exporter confidence during logistics uncertainty.
Cushions exporters and jobs, especially MSMEs, from conflict-driven freight and insurance costs.
Shows EPM can be used flexibly for quick response to external shocks.
Using ECGC's existing machinery lets support reach exporters fast.
Merges scattered export aid into one framework, reducing fragmentation for MSME exporters.
Eases credit, compliance and logistics costs, which can help competitiveness and market diversification.
Lowers the cost of capital and widens trade finance options for MSMEs.
Helps MSMEs meet international standards and cut logistics disadvantages, supporting broad-based export growth.
Lowers the cost of export credit and eases working capital for MSME exporters.
Improves bank lending to export-oriented MSMEs and supports market diversification and global value chain integration.

Problems

Low uptake of schemes by exporters, especially small ones, needs outreach and handholding.
Pendency and delays in facilitation committees hurt predictability for exporters.
Support is time-bound and conditional on documentary verification and ceilings, so smaller exporters may face compliance burden.
Exporters outside the eligible windows or without ECGC cover (non-MSME) get limited relief.
Fiscal cost is open-ended if the disruption lasts beyond the support window.
Documentary verification and claim processing may delay MSMEs' relief.
Only ECGC-linked or MSME exporters are covered, so other exporters stay exposed to higher costs.
Many separate interventions with caps and eligibility lists may be hard for small exporters to navigate.
Early uptake is low for some components, such as about 60 exporters for collateral support since January 2026.
MSMEs may find it hard to access schemes and claim reimbursements, and many lack awareness of them.
Caps on assistance per IEC or MSME may limit impact, and export growth also depends on global demand and trade barriers.
Caps (₹50 lakh per IEC) and a positive list may limit reach; the pilot depends on RBI and CGTMSE guidelines.
Banks' risk aversion and operational readiness can delay uptake, especially for emerging-market incentives.

Way forward

Run focused outreach with banks and Export Promotion Councils, and track measurable outcomes.
Use FTAs to target new markets and products, with district action plans.
Speed up claim verification and disbursal through digital processes.
Diversify routes and markets, and build lasting logistics resilience beyond one-off relief.
Keep real-time dashboard tracking and review the scheme as conditions change.
Widen ECGC coverage among MSMEs and diversify routes and markets to cut dependence on chokepoints.
Simplify applications on the digital portals and spread awareness among first-time exporters.
Track uptake and release funds on time, including arrears under older schemes.
Keep the digital claim process simple and time-bound, and run outreach through EPCs and district export hubs.
Review outcomes regularly and link support to FTA market opportunities.
Use pilot feedback and data to refine rates, caps and the positive list, with bi-annual reviews.
Pair finance support with NIRYAT DISHA measures on compliance, logistics and market access.

Put in your answer

District Export Hubs: Example of last-mile export promotion: District Export Promotion Committees and District Export Action Plans identify products and districts with export potential.

EPM structure: Cite EPM's two sub-schemes, NIRYAT PROTSAHAN (trade finance) and NIRYAT DISHA (trade enablers), as an example of integrated export support.

RELIEF under EPM: A targeted, time-bound intervention with Rs 497 crore to offset war-related freight and insurance costs.

EPM outlay: ₹25,060 crore for FY 2025-26 to FY 2030-31, with a focus on MSMEs.

Interest subvention rate: Interest subvention of 2.75%, up to ₹50 lakh, on pre- and post-shipment export credit for MSMEs.

Cost of capital and compliance: The new interventions aim to address MSME constraints: high cost of capital, limited trade finance instruments, compliance burdens, logistics disadvantages and market entry barriers.

FTA reach: Nine concluded FTAs give access to nearly 70% of global GDP and two-thirds of global trade, as stated by the Minister.

Mission outlay: ₹25,060 crore over FY 2025-26 to FY 2030-31, focused on MSMEs, first-time exporters and labour-intensive sectors.

Guarantee design: Cover of 85% for Micro and Small and 65% for Medium exporters, up to ₹10 crore exposure per exporter.

Test yourself

True or false?

1 of 19

Statements the way Prelims prints them. Say first, then see the fact.

1.ECGC Ltd has been designated the nodal agency for implementing RELIEF.
2.RELIEF is funded separately from the Export Promotion Mission through a standalone allocation.
3.For existing ECGC policyholders, RELIEF offers up to 100% additional risk coverage for consignments in the period 14 February to 15 March 2026.
4.Non-ECGC-insured MSME exporters can get partial reimbursement of up to 50% of surcharge burdens, subject to a ceiling of Rs 50 lakh per exporter.
5.ECGC provides export credit insurance against commercial and political risks.
6.RELIEF is a permanent scheme with no provision for withdrawal.
7.Under the Export Promotion Mission, financial enablers are grouped under Niryat Protsahan and trade ecosystem support under Niryat Disha.
8.The export factoring intervention offers an interest subvention of 2.75% on factoring cost.
9.TRACE reimburses a higher share of testing and certification costs for items on the Priority Positive List than on the Positive List.
10.LIFT is meant to reduce the geographical disadvantage of exporters in districts with high export intensity.
11.INSIGHT can provide up to 100% support for proposals from Central and State Government institutions and Indian Missions abroad.
12.All 11 proposed interventions under the Export Promotion Mission are now operational.
13.The Export Promotion Mission was approved by the Union Cabinet in November 2025.
14.The Mission is implemented solely by the Department of Commerce.
15.NIRYAT DISHA focuses on access to affordable trade finance, while NIRYAT PROTSAHAN supports non-financial enablers such as branding and logistics.
16.The base interest subvention on pre- and post-shipment rupee export credit is 2.75 per cent.
17.The interest subvention applies to all tariff lines without restriction.
18.The collateral guarantee for export credit is being introduced in partnership with CGTMSE.
19.Guarantee coverage is up to 65 per cent for Micro and Small exporters and up to 85 per cent for Medium exporters.

Written by us from the release, not by UPSC; checked by a second model.

Source: PIB Headquarters, 24 Feb, 14:54 IST · Release 284814

Issue page →

Worth revising until Prelims 2028: most news questions come within two years of the event.

Economy

TRAI Recommendations on IMT Spectrum Auction

GS3 Science and TechnologyPrelims and Mains

Why in news: On 24 February 2026, TRAI released its recommendations on the auction of spectrum in IMT bands. DoT had sought them on reserve price, band plan, block size and auction conditions.
What it is: TRAI is the statutory regulator for telecom. Under Section 11(1)(a) of the TRAI Act, 1997, it gives recommendations to the government on matters such as spectrum auctions. The government decides, and the auction is held by DoT.

Legal basis of the reference: DoT asked for these recommendations under Section 11(1)(a) of the TRAI Act, 1997. The recommendations are advisory.
Auction design: Spectrum goes by Telecom Circle or Metro Area, valid for 20 years. The SMRA format continues.
Spectrum cap: A 35% cap is recommended on spectrum available for access services in each band group. Operators already above the cap need not surrender spectrum.
Net-worth for new entrants: The requirement is cut from Rs 100 crore to Rs 50 crore per licensed service area. For J&K and North East it falls from Rs 50 crore to Rs 25 crore.
6 GHz upper band: It is kept reserved for IMT but not auctioned now. The issue is to be re-examined after WRC-27.
Revaluation periodicity: Fresh spectrum valuation is recommended once every three years for existing bands.

Don’t confuse with Spectrum cap vs reserve price: The cap limits how much spectrum one operator can hold. The reserve price is the minimum bid floor per MHz in a service area.

Don’t confuse with USOF vs Digital Bharat Nidhi: USOF has been renamed Digital Bharat Nidhi. It funds coverage in uncovered areas, and the new incentive targets areas outside its schemes.

Economy terms and data: 42 Prelims questions since 2013, rising in recent years; they test what a term or instrument means. In Mains, 12 news-triggered questions.

No practice question for this one; the card may still help an answer. Why: Spectrum auction is a lasting telecom policy topic, but this recommendation has few testable facts and UPSC rarely asks it.

Source: PIB, Ministry of Communications, 24 Feb, 16:02 IST · Release 284830

Issue page →

Worth revising until Prelims 2027: most news questions come within two years of the event.

International relations

India-GCC Free Trade Agreement

GS2 International RelationsGS3 EconomyPrelims and Mains

Why in news: On 24 February 2026 in New Delhi, India and the Gulf Cooperation Council signed a Joint Statement formally launching negotiations for an India-GCC Free Trade Agreement. The Terms of Reference had been signed on 5 February 2026.
What it is: The Gulf Cooperation Council is a bloc of six Arab states of the Persian Gulf, formed in 1981, with its Secretariat General in Riyadh. An India-GCC FTA would cover trade in goods, services and investment between India and the bloc as a whole. The GCC is India's largest trading partner bloc.

Signing: The Joint Statement was signed by Commerce Minister Piyush Goyal and GCC Secretary General Jasem Mohamed Albudaiwi in New Delhi on 24 February 2026, launching negotiations.
Trade size: The GCC is India's largest trading partner bloc. Trade was USD 178.56 billion in FY 2024-25, with exports of USD 56.87 billion and imports of USD 121.68 billion, giving India a large deficit.
Trade basket: India exports engineering goods, rice, textiles, machinery, and gems and jewellery. It imports crude oil, LNG, petrochemicals and precious metals such as gold.
GCC market: The GCC has 61.5 million people and a GDP of USD 2.3 trillion at current prices, ranking 9th globally.
Members and HQ: The GCC has six members: Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. It was set up in 1981 and is headquartered in Riyadh.
FDI and diaspora: Cumulative GCC investment in India exceeded USD 31.14 billion by September 2025. Nearly ten million Indians live in the GCC.
Purpose of ToR: The Terms of Reference define the scope and modalities of the India–GCC FTA negotiations.
Investment: GCC cumulative FDI in India exceeded USD 31.14 billion as of September 2025.
GCC membership: GCC has six members: Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. It was founded in 1981 and is headquartered in Riyadh.

Don’t confuse with India-UAE CEPA vs India-GCC FTA: The India-UAE CEPA is a bilateral pact with one GCC member. The India-GCC FTA is being negotiated with the six-member bloc as a whole.

Don’t confuse with GCC vs OPEC: The GCC is a regional political and economic bloc of six Gulf states. OPEC is an oil-producing countries' group with a wider membership.

Don’t confuse with GCC vs Arab League: GCC is a six-member Gulf bloc formed in 1981. The Arab League is a much larger body of Arab states, formed in 1945.

Don’t confuse with ToR vs FTA: The ToR only start and frame negotiations. The FTA itself is the final trade agreement and is not yet concluded.

International bodies and relations: the largest group of news questions in Prelims (61 since 2013), often about background, members and location. In Mains, 27 news-triggered questions, mostly on India's interests.

Test yourself

Source: PIB, Ministry of Commerce & Industry, 24 Feb, 19:11 IST · Release 284844

Issue page →

Worth revising until Prelims 2027: most news questions come within two years of the event.

Scheme

RAMP Programme and National MSME Council

GS3 EconomyPrelims and Mains

Why in news: On 24 February 2026 the fifth National MSME Council met in New Delhi to review the World Bank-supported RAMP Programme. The Union MSME Minister also launched the Udyami Bharat Portal and the MSME Technology Transfer Platform.
What it is: RAMP (Raising and Accelerating MSME Productivity) is a Central Sector scheme of the Ministry of MSME, supported by the World Bank. It aims to strengthen MSME institutions and Centre-State links, and to improve access to markets and credit. The National MSME Council oversees coordination among Ministries and between the Centre and States under it.

Role of the National MSME Council: It is the administrative and functional body of RAMP. It oversees inter-ministerial coordination and Centre-State synergies, and monitors reforms in the MSME sector.
Aims of RAMP: RAMP targets market and credit access, stronger institutions and governance at Centre and State, Centre-State linkages, delayed payments and greening of MSMEs.
Udyami Bharat Portal: An integrated one-stop portal for MSME services, built in line with the Digital India Mission. It links MoMSME portals, other Central portals and State portals.
MSME Technology Transfer Platform (MTTP): A unified digital platform giving MSMEs access to advanced technologies, testing facilities, skilling and IP commercialisation support.
World Bank support areas: The World Bank says RAMP supports greening, gender inclusion, access to finance and innovations such as online dispute resolution for MSMEs.

Don’t confuse with RAMP vs PMEGP: RAMP is a World Bank-supported programme for MSME institutions, reforms and Centre-State coordination. PMEGP is a credit-linked subsidy scheme that creates new micro enterprises.

Don’t confuse with Udyami Bharat Portal vs Udyam Registration Portal: Udyami Bharat Portal is a new one-stop portal integrating many MSME services. Udyam Registration is the portal for registering MSMEs.

Schemes: 52 Prelims questions since 2013, 10 in Prelims 2026 alone. They test features, the period and who funds it. In Mains, 33 news-triggered questions, mostly GS3.

No practice question for this one; the card may still help an answer. Why: World Bank-supported MSME programme with a council to oversee reforms; lasting topic but few new testable facts, so no question likely.

Source: PIB, Ministry of Micro,Small & Medium Enterprises, 24 Feb, 22:19 IST · Release 284869

Issue page →

Worth revising until Prelims 2027: most news questions come within two years of the event.

Quick facts

The New Delhi Declaration on AI Impact, adopted at the AI Impact Summit (18-19 February 2026), now has 91 signatories after Bangladesh, Costa Rica and Guatemala joined.
CCEA approved three railway multitracking projects (Gondia-Jabalpur, Punarakh-Kiul, Gamharia-Chandil) costing Rs 9,072 crore, planned on PM-Gati Shakti.
Cabinet approved Rs 1,677 crore Civil Enclave expansion at Srinagar airport, raising capacity from 2.5 to 10 million passengers a year.
Cabinet raised POWERGRID's equity investment limit per subsidiary from Rs 5,000 crore to Rs 7,500 crore, keeping the 15% of net worth cap.
7th edition of India-Japan exercise Dharma Guardian began at Chaubattia, Uttarakhand (24 Feb-9 Mar 2026).
16th edition of India-US Special Forces exercise Vajra Prahar is being held at Bakloh, Himachal Pradesh (24 Feb-16 Mar 2026).
First round of India-Israel FTA negotiations began in New Delhi on 23 Feb 2026; bilateral trade was USD 3.62 billion in FY 2024-25.
MeitY set up a high-level committee under former Secretary Ajay Sawhney to review the Digital Locker rules and plan Entity Locker.

Source: PIB, 24 Feb

What we left out: 53 of 68 releases

Tributes and greetings (3)
Speeches without a decision (5)
Budget explainer, no new decision (1)
Consultations and workshops (2)
Ceremonies and campaigns (7)
Routine research findings (1)
Routine data (1)
Events and summits (1)
Routine project approvals (1)
Same issue as another release (10)
Routine MoUs (1)
Routine enforcement data (1)
Statements without a decision (1)
Visit schedules (2)
Events and outreach (3)
Visits and reviews (4)
Portal launch and foundation day (1)
Challenges and campaign launches (1)
Courtesy meetings (1)
Conferences without a decision (4)
Inaugurations with nothing new (1)
Routine bilateral meetings (1)

Practise the day’s news

In UPSC’s formats, inside each issue. The answer and why come after you choose.

1Alteration of State Name (Article 3) - Kerala to KeralamMCQ · 7 true or false
2Minimum Support Price and CACPMCQ · 12 true or false · Mains
3GDP Base Year Revision (2022-23)MCQ · 17 true or false
4Export Promotion Mission (EPM)MCQ · 19 true or false · Mains
5India-GCC Free Trade Agreement6 true or false

Mains question of the day

15 marks · 250 words

The Union Cabinet has approved renaming the State of Kerala as 'Keralam', and the President will refer the Kerala (Alteration of Name) Bill, 2026 to the State Legislature under Article 3. In this context, examine the constitutional provisions governing the formation of new States and the alteration of the name, area and boundaries of existing States. How far does this procedure protect the interests of the States in India's federal structure?

From: Alteration of State Name (Article 3) - Kerala to Keralam

Write and get it marked

Keep reading

The day before

Monday, 23 February 2026National Monetisation Pipeline 2.0 (NMP 2.0) · Traditional Knowledge Digital Library (TKDL) · India-France Double Taxation Avoidance Convention (DTAC) and 3 more

The day after

Wednesday, 25 February 2026River Ranching under Namami Gange · PM GatiShakti and Network Planning Group · State Election Commissions and ECI Coordination and 1 more

All days

Mains question of the day

15 marks

From: Alteration of State Name (Article 3) - Kerala to Keralam

Write and get it marked

Practice

1Alteration of State Name (Article 3) - Kerala to KeralamMCQ · 7 true or false
2Minimum Support Price and CACPMCQ · 12 true or false · Mains
3GDP Base Year Revision (2022-23)MCQ · 17 true or false
4Export Promotion Mission (EPM)MCQ · 19 true or false · Mains
5India-GCC Free Trade Agreement6 true or false

Practice · 5 Mains question