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February 03, 2026 - Current affairs for all the Exams: Landmark India-US Trade Deal and Union Budget 2026-27: Key Developments

February 03, 2026

India and the United States have finalized a historic trade agreement slashing reciprocal tariffs to 18% following a strategic shift in India's energy imports. Simultaneously, the Union Budget 2026-27 has introduced a new Income Tax Act and designated lightning as a major natural disaster due to rising fatalities.

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ALL TN Comp Exams Prep

February 03, 2026 - Current affairs for all the Exams: Landmark India-US Trade Deal and Union Budget 2026-27: Key Developments

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1. Under the landmark India-US trade deal announced recently, what is the new tariff rate for Indian goods entering the United States?

2. As part of the reciprocal trade agreement with the U.S., India has agreed to halt the purchase of oil from which nation?

3. The Union Budget 2026-27 confirmed that the Income Tax Act, 2025, will officially replace which existing legislation?

4. On what date will the new Income Tax Act, 2025, officially come into effect?

5. Which of the following has been officially designated as a 'natural disaster' in the Union Budget 2026-27?

6. According to the budget reports, what has been the percentage rise in lightning strikes in India since 2019?

7. How much has been allocated in the Union Budget 2026-27 for R&D into Small Modular Reactors (SMRs)?

8. Which country's cricket board has announced a boycott of its group-stage match against India in the T20 World Cup 2026?

9. In the event of a forfeiture or replacement in the T20 World Cup 2026, which team is being considered by the ICC to take the vacated spot?

10. Elon Musk’s SpaceX has recently merged with which AI company at a valuation of $1.25 trillion?

11. Which Indian financial indicator hinted at a strong market opening following the India-US trade announcement?

12. What is the primary goal of the SpaceX and xAI merger as per the recent developments?

February 03, 2026 - Current affairs for all the Exams: Landmark India-US Trade Deal and Union Budget 2026-27: Key Developments

Your Score: 0 / 0

1. Under the landmark India-US trade deal announced recently, what is the new tariff rate for Indian goods entering the United States?

2. As part of the reciprocal trade agreement with the U.S., India has agreed to halt the purchase of oil from which nation?

3. The Union Budget 2026-27 confirmed that the Income Tax Act, 2025, will officially replace which existing legislation?

4. On what date will the new Income Tax Act, 2025, officially come into effect?

5. Which of the following has been officially designated as a 'natural disaster' in the Union Budget 2026-27?

6. According to the budget reports, what has been the percentage rise in lightning strikes in India since 2019?

7. How much has been allocated in the Union Budget 2026-27 for R&D into Small Modular Reactors (SMRs)?

8. Which country's cricket board has announced a boycott of its group-stage match against India in the T20 World Cup 2026?

9. In the event of a forfeiture or replacement in the T20 World Cup 2026, which team is being considered by the ICC to take the vacated spot?

10. Elon Musk’s SpaceX has recently merged with which AI company at a valuation of $1.25 trillion?

11. Which Indian financial indicator hinted at a strong market opening following the India-US trade announcement?

12. What is the primary goal of the SpaceX and xAI merger as per the recent developments?

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