Important Current Affairs for Preliminary and Main Examinations

Union Budget of India (2026 - 2027)

• Indian Finance Minister will present India’s Union Budget 2026-27 on February 1, 2026, at 11 am.
• The Union Budget of India, officially known as the Annual Financial Statement under Article 112 of the Indian Constitution.
• It is the Central government’s financial plan for the upcoming fiscal year (April 1 to March 31).
• It is a statement of the estimated receipts and expenditure of the government for that particular year.
• The Union Budget is shapes our country's economic strategies and affects families and businesses on a massive scale. It sets the stage for development goals in education, infrastructure, health and more.
• The budget outlines fiscal policy, decides tax changes and signals government priorities which can impact economic growth, jobs, and inflation.
• India’s Union Budget is deliberated and approved by Parliament. It includes several documents such as the Finance Bill, Budget estimates, taxation proposals and departmental receipts and outlays.
• The first phase of the Budget Session will conclude on February 13, after which Parliament will take a recess. The second phase will commence on March 9 and continue until April 2. During the period between the two sessions, the Parliamentary department-related standing committees will study the budgetary allocations. The session will begin with Honourable President Droupadi Murmu’s address, and the Budget will be tabled accordingly.
• For the first time in the history of India, the Union Budget will be presented on Sunday.

The Judges (Inquiry) Act, 1968

The Judges (Inquiry) Act, 1968 regulates the procedure for investigating the misbehaviour or incapacity of judges in India, ensuring accountability within the judiciary. Key Provisions of the Act

• Purpose: The Act was enacted to provide a structured process for the investigation of allegations against judges of the Supreme Court and High Courts regarding misbehaviour or incapacity.
• Initiation of Inquiry: A motion for the removal of a judge can be initiated by at least 100 members of the Lok Sabha or 50 members of the Rajya Sabha. The Speaker or Chairman has the discretion to admit or reject the motion after consultation.
• Committee Formation: If the motion is admitted, a committee is formed to investigate the allegations. This committee typically includes a distinguished jurist and is responsible for framing definite charges against the judge.
• Investigation Process: The committee conducts a thorough investigation into the charges. If the judge is found guilty of misbehaviour or incapacity, the committee's report is presented to both Houses of Parliament.
• Parliamentary Approval: For a judge to be removed, the motion must be passed by a special majority in both Houses of Parliament, which requires a majority of the total membership and a two-thirds majority of those present and voting.

Recently, Lok Sabha Speaker has constituted a three-member committee on the allegations of Allahabad High Court judge, Justice Yashwant Varma.