Current Affairs for 5 March 2026

About: The IBEI evaluates national business environments based on their accessibility, predictability, and low-friction systems for innovators. It focuses on inputs and enabling conditions for starting and scaling businesses, differentiating itself from outcome-based metrics like startup success rates.
Methodology and Indicators: The index aggregates scores from over 30 measurable indicators across key pillars:
Regulation and Government: Ease of starting and operating a business, and regulatory friction.
Access to Capital & Financial Infrastructure: Funding availability and credit conditions.
Taxation: Incentives and tax conditions for businesses.
Digital Infrastructure: Internet speed, freedom, and connectivity.
Global Mobility & Openness: International accessibility, market perception, and governance stability.
IBEI Rankings 2026: The United States ranked 1st with a perfect score of 100, while Singapore ranked 2nd and the United Kingdom ranked 3rd.
India’s Performance: India is ranked 54th globally with a score of 55.035. India is ranked ahead of China, which is placed 85th.

Vertical Devolution and a ‘Grand Bargain’: The Commission retained States’ share in the divisible pool at 41%, unchanged from the 15th Finance Commission.
To address the states’ concern over fiscal space eroded by rising cesses and surcharges (which are outside the divisible pool), the 16th FC proposed a ‘grand bargain’, i.e., states accept a smaller share of a larger divisible pool if the Centre merges most levies into shareable taxes.
Horizontal Devolution: The Commission introduced a major shift toward rewarding economic performance with a revised formula:
Income Distance (42.5%): Based on the gap from the average of the top three states, ensuring equity.
Population (2011 Census) (17.5%): Reflects expenditure needs.
Demographic Performance (10%): Rewards lower population growth (1971–2011).
Forest & Ecology (10%): Now includes open forests, not just dense forests.
Area (10%): Remains unchanged at 10% (as per 15th FC).
Contribution to GDP (10%): A new criterion measured by share in all-State GSDP (using its square root to moderate impact), replacing the tax effort/fiscal discipline criterion.

About: The EASE 9.0 reforms, launched in February 2026 by the Department of Financial Services, aim to transform PSBs into globally competitive institutions aligned with the national vision of Viksit Bharat @2047.
It emphasizes technology-led modernization, resilience, and operational excellence through four foundational pillars abbreviated as R.I.S.E.
Core Structure – Four Foundational Pillars (R.I.S.E.):
Risk & Resilience: Strengthening financial and credit risk management, operational resilience, and frameworks for enterprise-wide risk oversight.
Innovation: Driving deep integration of advanced technologies, including AI, generative AI (GenAI), machine learning (ML), cloud architectures, and microservices.
Socio-economic Impact: Promoting inclusive banking, financial access for underserved segments (including gig and platform workers), and contributions to broader economic goals.
Excellence: Enhancing operational efficiency, customer-centric processes, governance, and cost-effective next-generation operating models.

It is a highly sensitive molecular technique that screens blood donations by amplifying targeted regions of viral Ribonucleic Acid or Deoxyribonucleic Acid.
Traditional serological tests must wait for the human body to produce an immune response (antibodies) before an infection can be detected.
Nucleic Acid Testing directly detects the virus, drastically narrowing the “window period” (the time between initial infection and detectability) for Human Immunodeficiency Virus, Hepatitis B Virus, and Hepatitis C Virus.
This advanced testing helps identify “false reactive” blood donations that standard serology methods incorrectly flag as infected.
This ensures safe blood is not unnecessarily discarded and aids in accurate donor counselling.