Daily Current Affairs- 21st February 2026

Daily Current Affairs- 21st February 2026

India Revises Base Year of Merchandise Trade Indices to 2022–23

In the News: The Ministry of Commerce & Industry announced that the Directorate General of Commercial Intelligence and Statistics (DGCI&S) has revised the base year of India's Merchandise Trade Indices from FY 2012–13 to FY 2022–23 (2022–23 = 100), to better reflect the current structure of India's external trade.

Key Points:

• About DGCI&S: The Directorate General of Commercial Intelligence and Statistics (DGCI&S) is an arm of the Ministry of Commerce & Industry. It compiles and publishes Merchandise Trade Indices to measure changes in unit values (prices) of India's exports and imports over time.
• What are Merchandise Trade Indices? These indices serve as important indicators of external sector price movements and are widely used for economic analysis, including national accounts compilation and assessment of terms of trade. They cover Export/Import Unit Value Indices (UVI), Quantity Indices (QI), and Terms of Trade across various classification levels.
• Why the Revision? Over the past decade, India's trade basket has undergone substantial changes due to emergence of new commodities, technological advancements, global supply chain restructuring, and changes in relative price structures. The earlier base year (2012–13) no longer adequately reflected the prevailing trade structure, necessitating an update.
• Committee for Revision: The revision was undertaken on the recommendations of a committee constituted by DGCI&S under the Chairmanship of Prof. Nachiketa Chattopadhyay, Professor, Indian Statistical Institute (ISI), Kolkata. The Committee examined existing methodology, data coverage, weighting structure, and compilation practices, recommending refinements in line with international best practices.
• Key Features of the Revised Series: The new series carries an updated base year of FY 2022–23, a revised commodity basket at the Principal Commodity (PC) level to better capture emerging and declining trade items, an updated weighting structure based on trade values of the new base year, and improved methodology for selection of the common commodity basket and treatment of missing unit values.
• Types of Indices Compiled: The revised series includes Monthly, Quarterly and Annual Export/Import Unit Value Indices; Principal Commodity (PC) Classification-wise, SITC-wise, and Broad Economic Categories (BEC)-wise Trade Indices; Bilateral and Region-wise Trade Indices of India's Top 20 Export and Import partner nations; and Terms of Trade comprising Gross, Net, and Income Terms of Trade.

23rd Foundation Day of National Commission for Scheduled Tribes

In the News: The Ministry of Tribal Affairs celebrated the 23rd Foundation Day of the National Commission for Scheduled Tribes (NCST) at the Civil Services Officers Institute, Vinay Marg, New Delhi. Union Minister for Tribal Affairs Shri Jual Oram graced the occasion as Chief Guest and released the "NCST Handbook" detailing the Commission's functioning and responsibilities.

Key Points:

• About NCST: NCST is a constitutional body established under Article 338-A of the Constitution through the 89th Constitutional Amendment Act, 2003. It was created by bifurcating the earlier combined National Commission for SCs and STs to provide focused attention on the distinct problems and developmental needs of tribal communities.
• Composition: The Commission consists of a Chairperson, Vice-Chairperson, and 3 other Members (including at least one woman Member), all appointed by the President by warrant under his hand and seal. Their conditions of service and tenure are also determined by the President.
• Tenure and Ranks: The Chairperson, Vice-Chairperson, and other Members serve a 3-year term and are not eligible for appointment for more than two terms. The Chairperson holds the rank of Union Cabinet Minister, the Vice-Chairperson holds the rank of Minister of State, and other Members hold the rank of Secretary to the Government of India.
• Core Functions: NCST investigates and monitors constitutional and legal safeguards for STs, inquires into specific complaints regarding deprivation of rights, participates in socio-economic development planning, evaluates development progress, submits reports to the President, and makes recommendations to Union and state governments.
• Powers: NCST possesses civil court powers for investigations — it can summon persons, require document production, receive affidavits, and requisition public records. It is also empowered to regulate its own procedure.
• Constitutional Provisions Related to STs: Article 366(25) defines Scheduled Tribes as tribes or tribal communities deemed under Article 342 to be STs for the purposes of the Constitution. Article 342(1) empowers the President to specify tribes as STs in consultation with the Governor for states. The Fifth Schedule governs Scheduled Areas and STs in states other than Sixth Schedule states, while the Sixth Schedule provides Autonomous District Councils for tribal areas in Assam, Meghalaya, Tripura, and Mizoram.

Norway Breaks Winter Olympics Record! 17th Gold Seals Historic Milestone in Milan

In the News: At the 2026 Milan Cortina Winter Olympics, Norway created history by winning its 17th gold medal, breaking the record for the most gold medals won by a single nation at a Winter Games. The record-breaking gold came through Johannes Dale-Skjevdal, who delivered a flawless performance in the men's 15km biathlon mass start event at Anterselva, Italy, surpassing Norway's own previous record of 16 golds set at the Beijing 2022 Winter Olympics.

Key Points:

• Record-Breaking Achievement: Norway won its 17th gold medal at the Milan Cortina 2026 Winter Olympics, setting a new benchmark for the most gold medals won by any nation at a single Winter Games edition. Norway had previously set this record itself at the 2022 Beijing Winter Olympics with 16 gold medals.
• Johannes Dale-Skjevdal's Historic Performance: The record-breaking gold was clinched by Johannes Dale-Skjevdal in the men's 15km biathlon mass start. He became the only biathlete to hit all 20 targets perfectly (20/20), finishing with a winning time of 39 minutes and 17.1 seconds. Dale-Skjevdal took the lead after the first standing shooting bout and maintained it through gusty winds and slow snow conditions. He described it as his first time shooting 20/20, calling it an unforgettable moment at his first Olympics.
• Podium Finishers: Silver was claimed by Norway's Sturla Holm Laegreid, who missed just one target and finished 10.5 seconds behind Dale-Skjevdal, earning his fifth medal of the 2026 Games. Bronze went to France's Quentin Fillon Maillet, who despite missing four targets used strong skiing to overtake Germany's Philipp Horn, finishing 25.6 seconds behind the winner. This became Fillon Maillet's ninth Olympic medal overall.
• Norway's All-Time Winter Olympics Dominance: Norway stands as the most successful nation in Winter Olympics history, leading the all-time medal table with 405 total medals — 148 Gold, 134 Silver, and 123 Bronze. Despite having a population of just over 5 million, Norway has consistently excelled in Nordic skiing, biathlon, and speed skating, driven by a strong winter sports culture and robust grassroots training programs.
• Other Top Nations in All-Time Winter Olympics Medal Table: The United States ranks second with 330 total medals (114 Gold, 121 Silver, 95 Bronze), finding success across disciplines like snowboarding, ice hockey, figure skating, and alpine skiing. Germany ranks third with 267 total medals (105 Gold, 97 Silver, 65 Bronze), having competed in only 13 Winter Games in its current form.
• About the Milan Cortina 2026 Winter Olympics: The 2026 Winter Olympics are being held in Milan and Cortina d'Ampezzo, Italy. The biathlon events are staged at Anterselva, Italy. The men's 15km mass start was one of the final biathlon events of the Games, with the women's 12.5km mass start scheduled as the concluding biathlon competition.

Vasai Cathedral Wins UNESCO Award for Conservation

In the News: The conservation project of Our Lady of Grace Cathedral in Papdy village, Vasai, Maharashtra received the prestigious Award of Merit at the 2025 UNESCO Asia-Pacific Awards for Cultural Heritage Conservation, announced in Bangkok. The 475-year-old Portuguese-era cathedral earned international recognition for its community-funded restoration through traditional craftsmanship and local participation.

Key Points:

• About the Award: The UNESCO Asia-Pacific Awards for Cultural Heritage Conservation recognise outstanding conservation projects across the Asia-Pacific region. The 2025 edition marked the silver jubilee of the programme, with the jury assessing 90 entries from 16 countries and selecting winners based on technical achievement, sustainability, and understanding of place. The highest Award of Distinction went to projects in Japan and China, while other recognised sites were in Malaysia, Nepal, and Vanuatu.
• About Our Lady of Grace Cathedral: The Our Lady of Grace Cathedral, located in Papdy village, Vasai (formerly known as Bassein), Maharashtra, is a 475-year-old stone structure built during Portuguese colonial rule in the 16th century. It stands as a testament to the establishment and spread of Catholicism in Maharashtra. The structure was built without cement or bricks, relying on mud-based construction techniques typical of the era.
• Historical Significance of Vasai: Vasai, formerly known as Bassein, was a major Portuguese stronghold in the 16th century. Portuguese colonial architecture has significantly influenced the western coastal regions of India, and the cathedral is a prime example of this architectural legacy.
• Need for Restoration: Over centuries, exposure to monsoon weather and ad hoc repairs weakened the cathedral, particularly its roof and bell tower. The earlier inappropriate repairs had compromised the structural integrity of the heritage structure, necessitating a systematic conservation effort.
• Community-Led Effort: The entire restoration was financed through sustained donations from the local parish community, demonstrating exceptional stakeholder engagement. The UNESCO citation praised the "skilled use of traditional craftsmanship," especially the hand-carved renewal of liturgical elements, and highlighted the revival of the cathedral as a living place of worship and communal devotion.

Poland’s Exit from the Ottawa Convention

In the News: Poland officially withdrew from the 1997 Anti-Personnel Mine Ban Treaty (Ottawa Convention), concluding a six-month withdrawal process that began in August 2025. The withdrawal reverses Poland's earlier commitments after it had ratified the treaty in 2012 and completed the destruction of its stockpiles in 2016. Prime Minister Donald Tusk stated that Poland will be able to deploy anti-personnel mines along its eastern border within 48 hours should a threat emerge.

Key Points:

• About the Ottawa Convention (1997): The Ottawa Convention formally known as the Anti-Personnel Mine Ban Treaty emerged from the Canadian-led Ottawa Process following the First Review Conference of the 1980 Convention on Certain Conventional Weapons (CCW), which failed to impose strict limits on anti-personnel mines. The treaty bans the use, stockpiling, production, and transfer of anti-personnel mines due to their long-term devastating impact on civilian populations.
• Types of Landmines and Legal Status: Landmines are mainly of two types — anti-personnel mines and anti-vehicle (anti-tank) mines. While anti-personnel mines are prohibited under the Ottawa Convention, anti-tank mines are not banned and are regulated under the Convention on Certain Conventional Weapons (CCW), 1980 — Amended Protocol II (1996).
• Geopolitical Rationale for Poland's Withdrawal: The withdrawal is driven by the need to secure Poland's eastern borders through the Eastern Shield, a fortification system on the borders with Russia (Kaliningrad enclave) and Belarus. The decision follows Russia's full-scale invasion of Ukraine and the resulting heightened security concerns among Eastern European nations.
• Domestic Production Plans: Poland intends to achieve self-sufficiency by renewing domestic manufacturing of both anti-personnel and anti-tank landmines in cooperation with Polish producers — resuming such production for the first time since the Cold War. Deputy Defence Minister Pawel Zalewski confirmed plans to potentially export anti-personnel mines to Ukraine as well. The Polish government stated that mines will remain in stockpiles and will only be deployed in the event of a "realistic threat of aggression" to minimize civilian risk.
• Global Context: India, Russia, and the United States are among nearly three dozen nations that have never acceded to the Ottawa Convention, highlighting that the treaty has always had significant gaps in global participation, particularly among major military powers.

What are Section 122 tariffs and how will they differ from Trump's earlier tariffs?

In the News: The US Supreme Court in a 6-3 ruling struck down President Donald Trump's sweeping tariffs imposed under the International Emergency Economic Powers Act (IEEPA) of 1977, finding that the President had overstepped his constitutional powers by bypassing Congress. Hours after the ruling, Trump announced replacement tariffs of 10% under Section 122 of the Trade Act of 1974, which he subsequently raised to 15% — the maximum permissible limit under the provision — effective February 24, 2026.

Key Points:

• Supreme Court Ruling Against IEEPA Tariffs: The US Supreme Court ruled 6-3 that Trump did not have the authority to invoke the IEEPA — a national economic emergency law traditionally used in a sanctions capacity — to impose sweeping global tariffs on imports. This brought into question the status of the Liberation Day tariffs announced on April 2, 2025, which had imposed a baseline 10% rate on all trading partners along with country-specific "reciprocal" tariffs. The US had already collected more than $175 billion in tariffs under IEEPA before the ruling.
• What is Section 122 of the Trade Act of 1974? Section 122 was enacted during the Nixon era and directs the President to take measures, including imposing a temporary import surcharge, when necessary to address "large and serious United States balance-of-payments deficits" or situations presenting "fundamental international payments problems." The provision has never been used before Trump's invocation, making these the first-ever Section 122 tariffs in US history.
• Historical Background — Nixon's Precedent: The origins of Section 122 trace back to 1971, when Nixon invoked the Trading with the Enemy Act of 1917 (TWEA) to briefly impose a 10% tariff on all imports while the US struggled to resolve its balance-of-payments crisis amid the collapse of the Bretton Woods fixed exchange rate system. Section 122 was subsequently enacted as a successor instrument to address such situations. Trump had earlier cited Nixon's precedent as rationale for his IEEPA tariffs.
• Key Features and Limitations of Section 122 Tariffs: The tariff surcharge under Section 122 cannot exceed 15% and can only remain in place for a maximum of 150 days unless Congress approves an extension. Unlike other trade statutes, Section 122 does not require lengthy investigations, allowing Trump to continue announcing tariffs in rapid succession. However, after 150 days, the tariffs would face a Congressional wall and likely fresh legal challenges.
• Legal Vulnerability of Section 122: A Congressional Research Service report from April 2025 noted that "balance-of-payments deficits" under Section 122 did not specifically refer to trade deficits but focused on broader international payment measures including trade in services and capital flows. With the collapse of the Bretton Woods system in 1973 and the introduction of floating exchange rates, it could be argued that the balance-of-payments crisis as originally envisioned by Section 122 entirely ceased to exist as a concept, raising serious questions about the contemporary applicability of the law.
• Exemptions Under Section 122 Tariffs: The new tariffs exclude critical minerals, pharmaceuticals, energy products, some electronics, agricultural products including beef, automobiles and parts, aerospace products, goods subject to existing Section 232 tariffs, and imports under the US-Canada-Mexico Free Trade Agreement (USMCA).