2 March 2026 Current Affairs (With PDF)

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New GDP Series Released with Base Year Revised to 2022–23

The Ministry of Statistics and Programme Implementation has released a new series of Annual and Quarterly National Accounts Estimates, revising the GDP base year to 2022–23 and improving estimation methods using modern data and statistical frameworks.

Key Changes in the New GDP Series

1. New Base Year: 2022–23:

• Earlier base year: 2011–12
• Selected because it represents the most recent normal economic year after COVID-19 disruptions
• Helps reflect current economic structure, including digital economy and new sectors

2. Improved Data Sources:

• The new series integrates high-frequency and administrative datasets, including GST collectionse, -Vahan portal (vehicle registration data), Public Financial Management System, Annual Survey of Unincorporated Sector Enterprises, Periodic Labour Force Survey (PLFS)
• This improves coverage of Informal sector, Gig economy, Household enterprises, Digital economic activities

3. Adoption of Double Deflation Method:

a) Earlier:

• Single Deflation

b) Now:

• Double Deflation (better accuracy)

c) Meaning:

• Single deflation adjusts only output prices

d) Double deflation adjusts both:

• Output prices and Input prices

e) Result:

• More accurate measurement of real value addition in Manufacturing and Agriculture

4. Integration of Supply and Use Tables (SUT):

• Supply and Use Tables balance: Production (supply) and Consumption, investment, exports (use)
• Benefits: Reduces discrepancies between GDP measured by Production method and Expenditure method
• Improves overall statistical consistency

5. Better Estimation of Private Final Consumption Expenditure (PFCE):

• PFCE measures household consumption.
• New improvements include Commodity flow method, Administrative data integration, Direct production estimates
• This improves measurement of India’s largest GDP component.

6. Improved Government Sector Accounting:

• GDP now includes National Pension System (NPS) and Old Pension Scheme (OPS)
• This ensures more accurate estimation of government finances.

7. Inclusion of Gig Economy and Domestic Workers:

• New GDP series now captures: Platform workers, Digital economy participants, Hired domestic workers
• This improves representation of modern labour market realities.

Why Base Year Revision is Necessary

• Reflect Structural Economic Changes: India’s economy has changed significantly due to Digital services expansion, Renewable energy growth, Changing consumption patterns
• Align with International Standards: Periodic revision follows guidelines of the United Nations Statistical Commission.
• Improve Accuracy and Credibility: Ensures GDP reflects current production structure and economic realities.

Major Economic Implications

1. GDP Growth Rate Increased:

• Real GDP growth revised upward to 7.6% for FY 2025–26

2. Nominal GDP Size Reduced:

• GDP size revised downward by 3.3% to 3.8%
• New nominal GDP estimate: ₹345.47 lakh crore (FY 2025–26)

Reason: Improved and more accurate estimation methods

3. Fiscal Deficit Increased (as % of GDP):

• Earlier: 4.36%
• Revised: 4.51%

Reason: Smaller GDP denominator increases deficit ratio

4. Debt-to-GDP Ratio Increased:

• Revised estimate: 57.5% (FY 2026–27)
• Earlier target: 55.6%
• Makes fiscal consolidation more challenging

National Science Day 2026 Theme: Women in Science Driving India’s Innovation Future

National Science Day 2026, celebrated on 28 February, adopted the theme “Women in Science: Catalyzing Viksit Bharat,” emphasizing the growing contribution of women in science, technology, and innovation toward India’s development goals.

Role and Status of Women in Science and Technology

1. Historical and Modern Leadership:

a) Historical contributions:

• Gargi Vachaknavi – Renowned philosopher and scholar in ancient India
• Lilavati – Influential mathematical work highlighting women’s intellectual legacy

b) Modern pioneers:

• Kalpana Chawla – First Indian-born woman in space
• Tessy Thomas – Known as the “Missile Woman of India”
• Ritu Karidhal Srivastava – Key scientist in India’s Mars mission

These figures symbolize the increasing leadership role of women in advanced scientific fields.

2. Rising Female Participation in STEM:

a) Education:

• Female STEM enrolment increased from 38.4% (2014–15) to 42.6% (2021–22)
• India accounts for 42.7% of global female STEM graduates

b) Research participation:

• Women’s share in extramural R&D rose from 13% (2000–01) to 28% (2018–19)
• Female researchers increased from 13.9% (2015) to 18.7% (2018)

This reflects growing gender inclusion in India’s scientific ecosystem.

Key Challenges Faced by Women in Science

1. Workforce Representation Gap:

• Despite strong enrolment, only ~27% of STEM workforce comprises women

2. Sectoral Imbalance:

• Engineering: 14.5% female participation
• Health Sciences: 24.5% female participation

Indicates uneven representation across disciplines.

3. Work–Life Balance Constraints:

• Career breaks due to caregiving responsibilities
• Slower career progression and fewer opportunities for advancement

4. Leadership Underrepresentation:

• Limited presence in senior scientific and policy-making positions
• Persistent “glass ceiling” effect

Government Initiatives Supporting Women in STEM

1. WISE-KIRAN Scheme:

• Launched by the Department of Science and Technology
• Umbrella programme supporting women scientists across career stages

2. Women Scientists Scheme (WOS):

• Enables women to re-enter research careers after career breaks
• Provides fellowships and research opportunities

3. CURIE Programme:

• Strengthens infrastructure in women’s universities
• Promotes advanced scientific research

4. Vigyan Jyoti Programme:

• Encourages girls in 250 districts to pursue STEM education
• Focus on school-level intervention and mentoring

5. GATI Initiative:

• Promotes gender equity in STEM institutions
• Encourages institutional reforms and inclusive policies

C. V. Raman

National Science Day is celebrated annually on 28 February to commemorate the discovery of the Raman Effect (1928) by Indian physicist C. V. Raman, marking India’s global scientific achievement.

Early Life

• Full Name: Chandrasekhara Venkata Raman
• Born: 7 November 1888, Tiruchirappalli, Tamil Nadu
• Died: 21 November 1970
• He showed exceptional brilliance in physics from a young age and became one of India’s greatest scientists.

Major Scientific Contribution: Raman Effect (1928)

1. Definition:

• The Raman Effect refers to the change in wavelength of light when it is scattered by molecules, revealing information about molecular structure and vibrations.

2. Scientific significance:

• Demonstrated that light interacts with matter at the molecular level
• Established the foundation of Raman Spectroscopy, widely used today in: Chemistry, Medicine, Material science, Forensic science

3. Importance:

• It was the first major scientific discovery made entirely in India that gained global recognition.

Other Scientific Contributions

• Advanced research in optics and spectroscopy
• Studied acoustics of Indian musical instruments such as tabla and violin
• Contributions to crystallography and solid-state physics
• Promoted scientific research and institution-building in India

Awards and Honours

• Nobel Prize in Physics (1930) – First Asian to win Nobel Prize in Physics
• Bharat Ratna (1954) – India’s highest civilian award
• Fellow of the Royal Society (FRS)
• Franklin Medal
• Lenin Peace Prize

Durand Line: Pakistan launches offensive under ‘Operation Ghazab lil-Haq’ along disputed frontier

Durand Line is the internationally recognized border separating Pakistan and Afghanistan, but remains a major source of geopolitical tension due to Afghanistan’s non-recognition.

About the Durand Line

• Length: Approximately 2,600 km
• Separates: Pakistan and Afghanistan
• Established: 1893
• Named after: Sir Mortimer Durand, British civil servant and diplomat
• Agreement between: British India and Afghan ruler Abdur Rahman Khan

Historical Background

The line was drawn in 1893 by the British to define the boundary between:

• British India (now Pakistan)
• Afghanistan

It was intended to create a buffer zone to prevent Russian expansion toward British India during the Great Game.

Why the Durand Line is disputed

1. Afghanistan’s objections:

• Afghanistan does not officially recognize the Durand Line

2. Reasons:

• Agreement was signed under colonial pressure
• It divided Pashtun tribal populations, splitting ethnic communities between two countries
• Afghanistan argues it was a temporary arrangement, not a permanent international border

3. Pakistan’s position:

• Pakistan considers it a legal international boundary
• It inherited the border after independence in 1947

India and EU agree to grant Most Favoured Nation status in Trade in Services for five years

Most Favoured Nation (MFN) is a core non-discrimination principle of the World Trade Organization requiring equal trade benefits to all members.

About Most Favoured Nation (MFN)

• Definition: MFN means a country must treat all WTO members equally in trade concessions.
• If a country gives lower tariffs, market access, or favourable treatment to one country, it must extend the same to all WTO members.
• It ensures non-discriminatory global trade.

Example to understand MFN

• If India reduces service sector restrictions for the European Union,
• It must offer the same concessions to other WTO members, unless covered under specific exceptions.

MFN in Trade in Services

MFN applies not only to goods but also to services, such as:

• Banking and financial services
• IT and digital services
• Professional services
• Telecommunications

Granting MFN in services ensures equal access for foreign service providers.

Key Objective of MFN Principle

• Promote fair competition
• Prevent discriminatory trade practices
• Ensure predictability and stability in global trade
• Encourage multilateral trading system

Exceptions to MFN Rule

• Free Trade Agreements: Countries in FTAs can offer special benefits only to each other.
• Regional Trade Agreements (RTAs): ASEAN, EU internal trade preferences
• Special treatment for developing countries: Known as Special and Differential Treatment (SDT)

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