GK Express of 05/02/2026
🚆 GK Express 2.0
Discipline • Clarity • Competitive Preparation
TODAY’S FOCUS →
ECONOMIC AND SCIENTIFIC DEVELOPMENTS IN INDIA
🧠 Thought of the Day
“Economy is the method by which we prepare today to afford the improvements of tomorrow.”
📰 Current Affairs
- Indo-Pacific Oceans Initiative : Recently, Spain joined the Indo-Pacific Oceans Initiative (IPOI), which was launched by India in November 2019 at the
ASEAN-led East Asia Summit (EAS) in Bangkok.
It draws on existing regional cooperation architecture and mechanisms to focus on seven thematic areas. - Bacillus subtilis as Kerala's State Bacterium: Kerala is set to become the first state in India to declare a state bacterium to highlight the importance of beneficial microbes
- Industrial Revolution 4.0 : The World Economic Forum (WEF) will
establish five new Centres for the Fourth Industrial
Revolution, including one in India’s Andhra Pradesh.
It establishes the Centre for Energy and Cyber Resilience, Andhra Pradesh, which promotes innovation in energy transition and strengthens cyber resilience across industries.
📘 Concept of the Day
Subject: INDIAN ECONOMY
Concept: The Union Budget & Its Components
The Union Budget is the Annual Financial Statement of the government (Article 112). It is divided into two main parts:
1. Revenue Budget (Day-to-day operations):
- Revenue Receipts: Money earned by the Govt that does not create liability (e.g., Tax like GST/Income Tax, and Non-Tax like Fines/Dividends).
- Revenue Expenditure: Spending on running the Govt that does not create assets (e.g., Salaries, Pensions, Subsidies, Interest Payments).
2. Capital Budget (Long-term assets/liabilities):
- Capital Receipts: Money received that creates liability or reduces assets (e.g., Borrowing loans, Disinvestment/Selling PSUs).
- Capital Expenditure (Capex): Spending that creates assets (e.g., Building Roads, Schools, Hospitals, Repaying loans). This is the "Good Expenditure" for growth.
Key Term - Fiscal Deficit: It is the difference between Total Expenditure and Total Receipts (excluding borrowings). It basically tells how much the Govt needs to borrow to meet its expenses.
🤔 Think About This
Tap a question to reveal the answer
1. Why does the Government prepare a budget and how does it actually work?
Why:
1. Allocation of Resources: To decide where money should go (Education vs Defense).
2. Reducing Inequalities: Taxing the rich and giving subsidies to the poor.
3. Economic Stability: Controlling inflation and ensuring growth.
How it works:
It starts with the Finance Ministry collecting data from all ministries. The Budget is then presented in Parliament (Lok Sabha). It must be passed by the Parliament (voting) to become law. Only after the Appropriation Bill is passed, can the Govt withdraw money from the Consolidated Fund of India.
1. Allocation of Resources: To decide where money should go (Education vs Defense).
2. Reducing Inequalities: Taxing the rich and giving subsidies to the poor.
3. Economic Stability: Controlling inflation and ensuring growth.
How it works:
It starts with the Finance Ministry collecting data from all ministries. The Budget is then presented in Parliament (Lok Sabha). It must be passed by the Parliament (voting) to become law. Only after the Appropriation Bill is passed, can the Govt withdraw money from the Consolidated Fund of India.
2. "Space technology is no longer just about exploration, it is about economy." Justify.
Justification:
1. Space Economy: Launching satellites for other countries earns foreign exchange (e.g., ISRO's commercial arm NSIL).
2. Disaster Management: Satellites (like INSAT) save billions by predicting cyclones early.
3. Agriculture: Remote sensing helps in crop estimation and soil health monitoring, boosting the primary sector.
4. Communication: It forms the backbone of the digital economy (Internet/GPS).
1. Space Economy: Launching satellites for other countries earns foreign exchange (e.g., ISRO's commercial arm NSIL).
2. Disaster Management: Satellites (like INSAT) save billions by predicting cyclones early.
3. Agriculture: Remote sensing helps in crop estimation and soil health monitoring, boosting the primary sector.
4. Communication: It forms the backbone of the digital economy (Internet/GPS).
📝 Let’s Write an Exam
Q.1 (UPSC PYQ)
Which of the following constitutes 'Capital Account' in the budget?
A) Income Tax Receipts
B) Interest Payments on Loans
C) Loans raised from the Foreign Governments
D) Subsidies provided by Government
Answer: C
• Loans raise a liability (you have to pay them back), so they are Capital Receipts.
• Taxes (A) are Revenue Receipts.
• Interest Payments (B) and Subsidies (D) are Revenue Expenditures (consumption).
• Loans raise a liability (you have to pay them back), so they are Capital Receipts.
• Taxes (A) are Revenue Receipts.
• Interest Payments (B) and Subsidies (D) are Revenue Expenditures (consumption).
Q.2 (UPSC PYQ)
'Aditya-L1' mission, recently in the news, is related to the study of:
A) Moon's South Pole
B) The Sun
C) Planet Venus
D) Black Holes
Answer: B (The Sun)
• Aditya-L1 is India's first solar mission.
• It is placed in a halo orbit around the Lagrange point 1 (L1) of the Sun-Earth system to observe the Sun continuously without any eclipses.
• Aditya-L1 is India's first solar mission.
• It is placed in a halo orbit around the Lagrange point 1 (L1) of the Sun-Earth system to observe the Sun continuously without any eclipses.
✍️ Answer These Questions
1. Name the India's First National Microbe declared in 2012?
2. What is the full form of 'NSIL'?
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