Legal Current Affairs for 17 January 2026

It is flagship initiative aimed at supporting entrepreneurs, building a robust startup ecosystem and transforming India into a country of job creators instead of job seekers.
Launched: 16th January, 2016 (celebrated as National Startup Day)
Nodal Agency: Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry.
Three Pillars:
Simplification & Handholding: Easier compliance, regulatory and patent support, market access.
Funding Support: Tax exemptions, Seed Fund, Fund of Funds, Credit Guarantee Scheme (CGSS).
Incubation and Industry-Academia Partnership: E.g. MAARG Portal (Mentorship, Advisory, Assistance, Resilience, and Growth)
Key Enablers & Platforms:
Startup India Hub, Bharat Startup Knowledge Access Registry (BHASKAR) helping discovery and networking.
SIPP (Startups Intellectual Property Protection) Scheme: Facilitates fast-tracking of patent applications.

Meaning: Refers to facilities and institutional arrangements through which long-term funds, both debt and equity are raised and invested, putting them into productive use.
Classification: Further divided Primary and Secondary Market.
While primary market deals with new securities/shares, secondary market or stock market deals with purchase and sale of existing securities.
Participants: Financial institutions, banks, corporate entities, foreign investors and ordinary retail investors from public.
Instruments Used: Equity shares, debentures, bonds, preference shares etc.

Awarded to person “who shall have done the most or the best work for fraternity between nations, for the abolition/reduction of standing armies and for holding and promotion of peace congresses” (As per the Will of Alfred Nobel).
Awarded by: Norwegian Nobel Committee since 1901.
Criteria: Since World War II, it is awarded to honour efforts in four main areas:
Arms control and disarmament, peace negotiation, democracy and human rights, and work towards creating a better organized and more peaceful world.
In the 21st century, efforts to limit harm done by man-made climate change and threats to environment are too considered relevant to the prize.
Inclusions of the Prize: Medal, a diploma, and a cheque (currently 11 million Swedish crowns).
The medal is currently, 18 carats gold, 196 grams with diameter of 6.6 centimetres.
Awardees from India: Mother Teresa (1979); 14th Dalai Lama (1989); Kailash Satyarthi (2014).

It is an official document issued by the tax authorities in a country to certify that an individual or entity is a tax resident of that country for a specific financial year.
It is relevant for Resident Indians, NRIs, and businesses engaged in cross-border transactions.
It is essential for claiming benefits under Double Taxation Avoidance Agreements (DTAA).
DTAA is an agreement signed between two countries to prevent individuals or businesses from being subject to double taxation on their income.

It is the National Meteorological Service of India and the principal government agency in all matters relating to meteorology and allied subjects.
Genesis: 1875
Ministry: Ministry of Earth Sciences
Headquarters: New Delhi
Mandate: Forecast meteorological information and warns against severe weather phenomena.

Established: 1958 (as Council of the European Economic Community)
Role: Voice of EU member governments, adopting EU laws and coordinating EU policies.
Members: Government ministers from each EU country, according to the policy area to be discussed.
Presidency: Each EU country holds the presidency on a 6-month rotating basis, currently held by Cyprus (Jan 2026).
Location: Brussels (Belgium)

Flagship programme of GeM to enhance participation of women entrepreneurs and SHGs in government procurement.
Provides a direct, transparent and fully digital platform, eliminating intermediaries and reducing entry barriers.
Key Achievements: More than two lakh women-led MSEs registered on GeM portal securing public procurement orders exceeding ₹80,000 crore, accounting for 4.7% of GeM’s total order value (as on 14th January, 2026).