Find the current affairs of 3 February 2026. Stay updated with the most important news and events that have occurred on this day. Our daily current affairs updates are carefully curated by GK and Current Affairs experts, ensuring that you receive accurate and relevant information to enhance your competitive exam preparation.
Each update is designed to provide you with a comprehensive overview of the day’s key happenings, including political developments, economic news, technological advancements, and significant social events.
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Highlights of 3 February 2026 Current Affairs
- Union Budget 2026–27 introduced targeted measures to promote India’s Orange Economy, covering AVGC, design, fashion, live entertainment, and digital creative industries as key drivers of jobs, exports, and cultural influence.
- The budget proposed support to the Indian Institute of Creative Technologies, Mumbai, and the setting up of AVGC Content Creator Labs in 15,000 secondary schools and 500 colleges to build an early talent pipeline.
- A new National Institute of Design is proposed in the eastern region through the challenge route, expanding India’s design education ecosystem beyond the existing seven NIDs.
- The 16th Finance Commission Report retained states’ share in the divisible pool at 41% and revised horizontal devolution criteria, likely benefiting southern states through inclusion of contribution to GDP.
- To promote fiscal discipline, the 16th Finance Commission recommended a 3% GSDP cap on states’ fiscal deficits, while excluding borrowings under the SASCI scheme from this limit.
- The Union Budget announced a three-pronged strategy to create “Champion MSMEs” through equity support, liquidity enhancement via TReDS reforms, and professional assistance through Corporate Mitras.
- Biopharma SHAKTI was launched with a ₹10,000 crore outlay to position India as a global biopharmaceutical manufacturing hub, focusing on biologics, biosimilars, research capacity, and regulatory strengthening.
- An Integrated Programme for the Textile Sector was unveiled, covering the entire value chain from fibre to fashion, with components such as the National Fibre Scheme, Tex-Eco Initiative, and Samarth 2.0.
- Bharat-VISTAAR, a multilingual AI-based agricultural platform, was proposed to integrate AgriStack and ICAR knowledge systems to provide real-time, data-driven advisories to farmers and policymakers.
- In science and global affairs, new evidence from NASA’s MESSENGER mission suggested ongoing geological activity on Mercury, while geopolitically, developments included partial reopening of the Rafah crossing and Donetsk’s centrality in Russia–Ukraine negotiations.
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