Daily Current Affairs- 14th January 2026

Daily Current Affairs- 14th January 2026

Union Budget of India 2026–27: Date, Time, Constitutional Basis and Key Details

In the News: The Union Budget of India for the fiscal year 2026–27 is scheduled to be presented in Parliament, outlining the government's fiscal policy, revenue and expenditure estimates, and economic priorities for the upcoming year.

Key Points:

• Budget Presentation Date and Time: The Union Budget 2026–27 is expected to be presented on February 1, 2026, following the tradition established in recent years of presenting the Budget on the first day of February. The Finance Minister will present the Budget speech in the Lok Sabha at 11:00 AM, detailing the government's fiscal proposals and policy initiatives.
• Constitutional Basis: The Union Budget derives its authority from Article 112 of the Indian Constitution, which mandates the presentation of an "Annual Financial Statement" before Parliament.
• Parliamentary Approval Process: Following presentation, the Budget undergoes detailed scrutiny through various stages including general discussion in both Houses of Parliament, examination by Parliamentary Standing Committees, discussion and voting on Demand for Grants, passage of the Appropriation Bill (authorizing expenditure), and passage of the Finance Bill (implementing tax and revenue measures).
• Digital Budget Presentation: In keeping with modern practices, the Budget is presented digitally through a tablet device, eliminating the traditional "briefcase" ceremony. The complete Budget documents are made available on the Union Budget portal immediately after the Finance Minister's speech, ensuring transparency and public access.

India-Germany Sign 19 Strategic Deals to Boost Defence, Tech and Minerals Cooperation

In the News: India and Germany have signed 19 strategic agreements aimed at strengthening bilateral cooperation across defence, technology, and critical minerals sectors. These comprehensive deals mark a significant deepening of the India-Germany strategic partnership, reflecting shared interests in economic development and strategic autonomy in an increasingly multipolar world.

Key Points:

• Comprehensive Agreement Package: The two nations signed 19 bilateral agreements and memoranda of understanding (MoUs) covering diverse sectors including defence manufacturing and technology transfer, advanced technology collaboration, critical minerals sourcing and processing, renewable energy and green hydrogen, digital infrastructure and artificial intelligence, and trade and investment facilitation.
• Defence Cooperation Enhancement: The defence agreements focus on co-production and co-development of military equipment, technology sharing in areas such as submarine technology and aerospace systems, joint research and development initiatives, defence industrial collaboration under India's Atmanirbhar Bharat initiative.
• Critical Minerals Cooperation: Recognizing the strategic importance of critical minerals for energy transition and high-tech manufacturing, the agreements include partnerships for exploration and mining of lithium, cobalt, rare earth elements, other critical minerals and technology transfer for sustainable extraction methods.
• Renewable Energy and Climate Action: The deals encompass cooperation on green hydrogen production and technology, offshore wind energy development, energy storage solutions and battery technologies, carbon capture and storage initiatives, and collaborative research on climate change mitigation and adaptation strategies.
• Economic and Trade Dimensions: The agreements aim to boost bilateral trade and investment, facilitate German investments in Indian manufacturing sectors, promote Indian startups' access to German markets and technology, enhance skill development and vocational training partnerships, and strengthen supply chain integration between both economies.

In SC's split verdict on corruption law, what judges disagreed on

In the News: The Supreme Court of India delivered a split verdict on a crucial corruption law case, with judges expressing divergent views on the interpretation and application of anti-corruption provisions.

Key Points:

• Split Verdict Details: A Supreme Court bench delivered a split judgment on the interpretation of provisions under the Prevention of Corruption Act, with judges unable to reach a unanimous conclusion.
• Core Legal Issue: The primary disagreement centered on the interpretation of what constitutes "criminal misconduct" by public servants and the evidentiary threshold required to establish corruption charges. Judges differed on whether the prosecution must prove actual corrupt intent or if circumstantial evidence of disproportionate assets is sufficient for conviction.
• Presumption of Innocence vs. Public Accountability: The split reflected a fundamental tension between protecting the constitutional presumption of innocence for public officials and ensuring robust mechanisms for detecting and prosecuting corruption.
• Implications for Pending Cases: The split verdict creates uncertainty for numerous     pending corruption cases across lower courts, which await authoritative guidance from the Supreme Court. Trial courts and High Courts may face challenges in applying the law consistently until a larger bench settles the interpretational conflicts.
• Referral to Larger Bench: Given the fundamental importance of the legal questions and the division of judicial opinion, the matter will be referred to a larger Constitution Bench of five or more judges.

Deloitte Forecasts Robust GDP Growth for India in FY26, Slower Pace in FY27

In the News: Global consulting firm Deloitte has released its economic outlook for India, projecting robust GDP growth for fiscal year 2025-26 (FY26) followed by a moderation in growth rate for FY27. The forecast reflects optimism about India's near-term economic trajectory while acknowledging potential headwinds that could temper expansion in subsequent years, providing insights into India's position as one of the world's fastest-growing major economies.

Key Points:

• FY26 Growth Projection: Deloitte forecasts strong GDP growth for India in FY26, driven by sustained domestic consumption, increased capital expenditure, resilient services sector performance, and continued government infrastructure investments.
• FY27 Growth Moderation: The consulting firm anticipates a slower growth pace in FY27 compared to FY26, reflecting potential challenges such as base effects from previous high growth, possible global economic slowdown, normalization of post-pandemic consumption patterns, and the impact of tighter monetary conditions on investment and spending.
• Investment and Capital Formation: Government capital expenditure on infrastructure projects, production-linked incentive (PLI) schemes attracting manufacturing investments, and corporate capacity expansion are expected to sustain investment activity in FY26. The pace may ease in FY27 depending on global economic conditions and private sector confidence.
• Global Economic Uncertainties: Deloitte's forecast acknowledges external risks including global trade tensions, geopolitical conflicts, commodity price volatility, advanced economies' monetary policy trajectories, and potential recession risks in major markets that could affect India's export performance and foreign investment flows.
• Inflation and Monetary Policy: The growth trajectory will be influenced by the Reserve Bank of India's monetary policy stance, inflation management, and the balance between supporting growth and maintaining price stability. Easing inflationary pressures could provide room for accommodative policies supporting economic expansion.

Golden Globes 2026: Full List of Winners and Key Highlights

In the News: The 83rd Golden Globe Awards ceremony took place on January 5, 2026, honouring excellence in film and television from 2025. Hosted by comedian Nikki Glaser at the Beverly Hilton in Beverly Hills, California, the star-studded event celebrated outstanding performances, groundbreaking storytelling, and creative achievements across cinema and streaming platforms, setting the stage for the upcoming awards season.

In the News: The 83rd Golden Globe Awards ceremony took place on January 11, 2026, honoring excellence in film and television from 2025. Hosted by comedian Nikki Glaser for the second consecutive year at the Beverly Hilton in Beverly Hills, California, the star-studded event celebrated outstanding performances, groundbreaking storytelling, and creative achievements across cinema and streaming platforms. The ceremony showcased a diverse range of winners, with "One Battle After Another" and "Adolescence" dominating the film and television categories respectively, setting the stage for the upcoming awards season.

Key Points:

• Best Motion Picture - Drama: "Hamnet" won the prestigious award for Best Motion Picture - Drama, with the film also earning recognition for its lead actress Jessie Buckley. The period drama garnered critical acclaim for its literary adaptation and compelling performances, establishing itself as a major contender in the awards season.
• Best Motion Picture - Musical or Comedy: "One Battle After Another" claimed the top honor in the Musical or Comedy category, leading all films with four total awards. Director Paul Thomas Anderson's revolutionary thriller also won Best Director, Best Supporting Actress for Teyana Taylor, and Best Screenplay, demonstrating the film's comprehensive excellence across multiple creative dimensions.
• Best Director: Paul Thomas Anderson won Best Director for "One Battle After Another," adding to his distinguished career of filmmaking achievements. The award recognized his bold vision in crafting what has been described as a gonzo revolutionary thriller that pushed creative boundaries.
• Acting Honors - Drama: Wagner Moura won Best Actor in a Motion Picture - Drama for his performance in "The Secret Agent," while Jessie Buckley received Best Actress in a Motion Picture - Drama for "Hamnet," both delivering powerful and emotionally resonant performances that captivated audiences and critics alike.
• Acting Honors - Musical or Comedy: Timothée Chalamet won Best Actor in a Motion Picture - Musical or Comedy for "Marty Supreme," and Rose Byrne received Best Actress in a Motion Picture - Musical or Comedy for "If I Had Legs I'd Kick You," showcasing versatile performances across different genres and demonstrating their range as performers.
• Supporting Performance Awards: Stellan Skarsgård won Best Supporting Actor for "Sentimental Value," while Teyana Taylor took home Best Supporting Actress for "One Battle After Another," both recognized for delivering standout performances that elevated their respective films and contributed to the overall storytelling.
• Animated Film Excellence: "K-Pop Demon Hunters" won Best Motion Picture - Animated, the Netflix animated sensation about a demon-fighting K-pop girl group that broke global streaming records. The film also won Best Original Song for "Golden," with songwriter and singer EJAE delivering an emotional acceptance speech about perseverance and self-acceptance.
• Television Dominance: "Adolescence" dominated the television categories with four major wins, including Best Limited or Anthology Series or Television Film, Best Actor for Stephen Graham, Best Supporting Actor for Owen Cooper, and Best Supporting Actress for Erin Doherty. The series demonstrated exceptional storytelling and performances across its ensemble cast.

Israel Withdraws from Seven UN Agencies Over Alleged Bias

In the News: Israel has announced its withdrawal from seven United Nations agencies, citing what it describes as systematic bias and anti-Israel positions within these international organizations. This dramatic move represents a significant escalation in Israel's strained relationship with parts of the UN system and reflects broader tensions between Israel and international institutions regarding the Israeli-Palestinian conflict and related humanitarian issues.

Key Points:

• Agencies Affected: While specific agencies vary in reports, the withdrawal likely impacts organizations dealing with human rights monitoring, refugee assistance, cultural preservation, educational programs, and humanitarian coordination.
• Israeli Justifications: Israel argues that these UN agencies consistently single out Israel for criticism while ignoring human rights violations elsewhere, operate with predetermined anti-Israel agendas, undermine Israel's sovereignty and security interests, politicize humanitarian issues for partisan purposes.
• Humanitarian Impact: The withdrawal, particularly from agencies like UNRWA, raises serious concerns about the provision of essential services to Palestinian refugees including education for hundreds of thousands of children, healthcare services, food assistance, and emergency relief.
• Broader UN-Israel Relations: This withdrawal intensifies Israel's longstanding tensions with UN institutions. Israel has previously criticized the UN Human Rights Council, withdrawn from UNESCO in 2018 (before potentially rejoining), and frequently clashed with UN officials over resolutions and reports concerning Israeli policies in Palestinian territories and settlement construction.

India Ranks 80th in World’s Strongest Passport Index

In the News: India has improved its position to 80th rank in the Henley Passport Index 2026, released on Tuesday, moving up from the 85th position held in 2025. The Indian passport now grants visa-free entry to 55 destinations worldwide out of 227 assessed destinations, reflecting gradual progress in India's global mobility and strengthening diplomatic relations with other nations.

Key Points:

• India's Ranking Improvement: India climbed five positions from 85th rank in 2025 to 80th rank in 2026 on the Henley Passport Index. The Indian passport provides visa-free or visa-on-arrival access to 55 destinations globally, representing modest but steady improvement in travel freedom for Indian citizens.
• Top-Ranking Passports: Singapore retained its position as the world's most powerful passport for the third consecutive year, offering visa-free entry to 192 out of 227 destinations. Japan and South Korea tied for second place with access to 188 destinations, while Denmark, Luxembourg, Spain, Sweden, and Switzerland shared third position with 186 destinations.
• European Dominance: European nations continue to dominate the upper ranks of the index. Austria, Belgium, Finland, France, Germany, Greece, Ireland, the Netherlands, and Norway shared fourth spot with visa-free entry to 185 destinations, while Hungary, Portugal, Slovakia, Slovenia, and the UAE completed the top five positions with access to 184 destinations.
• Regional Comparison: Within South Asia, India's 80th rank positions it ahead of neighboring Pakistan, which improved from 103rd to 98th position but remains near the bottom of rankings with visa-free access to just 31 destinations. Pakistan continues to languish alongside Yemen at the lower end of the index.
• Weakest Passports: Only Iraq, Syria, and Afghanistan ranked below Pakistan in the Henley Passport Index 2026, highlighting how conflict, security concerns, and diplomatic isolation severely restrict travel freedom for citizens of these nations.