Current Affairs - Economy

4.9% was the overall unemployment rate recorded in India for February 2026 among individuals aged 15 years and above. This marked a slight decline from January 2026, when the rate stood at 5.0%, indicating a modest improvement in the labour market. The data reflect stable employment conditions across both rural and urban areas. Urban unemployment showed a small decrease, while rural unemployment remained steady. Additionally, female unemployment declined notably during this period. These trends suggest gradual recovery and consistency in employment opportunities, as captured by the Periodic Labour Force Survey conducted by the National Statistics Office.

2.13% was the Wholesale Price Index (WPI) inflation rate recorded in India for February 2026. This marked an increase from January’s 1.81%, indicating a continued upward trend in wholesale prices. The rise was mainly driven by higher costs in food articles, non-food items, and manufactured products such as textiles and basic metals. Food inflation, especially in items like pulses and potatoes, contributed significantly to the increase. Although vegetable prices showed some easing and fuel prices remained in deflation, the overall inflation reflected growing cost pressures in the production and supply chain across various sectors.

Department for Promotion of Industry and Internal Trade (DPIIT) signed a Memorandum of Understanding with Voltas Limited to promote collaboration between industry and start-ups working in cooling and smart appliance technologies. The initiative aims to support innovation in areas such as HVAC systems, artificial intelligence, machine learning, power electronics, and advanced control technologies. Through programs like the Startup India initiative and the Bharat Start-up Grand Challenge, selected start-ups will receive mentorship, technical support, and access to testing infrastructure. The partnership also encourages the development of energy-efficient cooling solutions, IoT-enabled appliances, air-quality monitoring systems, and predictive maintenance technologies.

L&T Finance introduced the ‘Spoorthi’ programme to support and empower women entrepreneurs by offering specialised financial products such as home loans and loans against property (LAP). The initiative aims to encourage women-led businesses and improve access to credit for women who are running or co-running enterprises or professional ventures. Under the programme, eligible applicants can benefit from extended loan tenures of up to 25 years for home loans and LAP, along with flexible eligibility norms such as higher debt-to-income ratios. These features are designed to provide greater financial flexibility, enabling women entrepreneurs to invest in property ownership, expand businesses, and strengthen their economic participation.

The Government of India formed a high-level committee to recommend comprehensive reforms for the Special Economic Zones (SEZ) policy with the aim of developing a modern SEZ 2.0 framework. This committee consists of 17 members representing key government institutions and policy bodies. Members include representatives from the Ministry of Commerce, the Central Board of Indirect Taxes and Customs (CBIC), the Department for Promotion of Industry and Internal Trade (DPIIT), and NITI Aayog, along with other stakeholders. The panel’s role is to review the SEZ Act of 2005, identify gaps, align SEZ policies with export promotion schemes, evaluate recent reforms, and address operational challenges faced by SEZ developers and units.