Legal Current Affairs for 03 February 2026

What is the Orange Economy?
The term was coined by former Colombian President Iván Duque Márquez and Felipe Buitrago in their 2013 book “TheOrange Economy: An Infinite Opportunity”.
It refers to knowledge-based economic activities where ideas and creativity are transformed into cultural goods and services, with their value primarily determined by intellectual property.
Unlike traditional manufacturing-led growth, these sectors derive their primary value from ideas, artistic expression and cultural capital rather than physical goods.
Sectors Included: Audiovisual media (film, television), Live Entertainment like Music Concerts, Gaming Industry, Design, Theatre etc.
Key Budget Announcements
AVGC (Animation, VFX, Gaming & Comics) Sector: Support to Indian Institute of Creative Technologies (IICT), Mumbai in setting up AVGC Content Creator Labs in 15,000 secondary schools and 500 colleges.
Strengthening Design Education: Establishment of a new National Institute of Design (NID) in the eastern region through the challenge route.
India currently has seven NIDs, all recognised as institutes of national importance.

Its key recommendations have been accepted by the Government for implementation from 2026-27 to 2030-31
About FC
It is a Constitutional body under Article 280, constituted by the President of India every 5 years or earlier.
Composition: Chairman and 4 other members appointed by the president for a term specified by him.
Under Article 281, Government lays the Finance Commission’s report and an Action Taken Memorandum before Parliament.

Objective: Develop India into a global biopharmaceutical manufacturing hub by building the ecosystem for domestic production of biologics and biosimilars.
Biologics are class of medicines which are made from natural and living sources like animal and plant cells, and microorganisms. These include vaccines, blood and blood components, somatic cells, gene therapy, proteins etc.
Biosimilars are copies of biologics that are highly similar to biologics and have no clinically meaningful differences from the reference product.
Funding: Outlay of ₹ 10,000 crores over the next 5 years.
Strategy:
Biopharma-focused network with 3 new National Institutes of Pharmaceutical Education and Research (NIPER) and upgrading 7 existing ones.
Creating a network of over 1000 accredited India Clinical Trials sites.
Strengthening the Central Drugs Standard Control Organisation (CDSCO) to meet global standards and approval timeframes through a dedicated scientific review cadre and specialists.

Launched by NASA, MESSENGER (MErcury Surface, Space ENvironment, GEochemistry, and Ranging) was the first spacecraft to orbit mercury.
Key Discoveries:
Confirmed water ice in shadowed craters.
Established that it has a large iron-rich core.
Detected weak magnetic field.
About Mercury
It is the fastest, smallest, second densest and closest planet to Sun.
It doesn’t have a thick atmosphere but only a thin exposphere.
It has no moons or rings.

The Rafah Border Crossing is located between Egypt and the Gaza Strip.
It is the southernmost post of exit from Gaza and borders Egypt’s Sinai Peninsula.
The Rafah crossing into Egypt — often called Gaza’s “lifeline” — is the only border access for the territory that does not pass through Israel.
It is a critical lifeline for humanitarian aid, medical evacuations, and for the very few who are granted permission to travel.
There are only two other border crossings from and into the Gaza Strip – Erez, a crossing into Israel in northern Gaza, which is for people, and Kerem Shalom, a solely commercial goods junction with Israel in southern Gaza.

Location – Located in Eastern Ukraine, it is one of the two key regions of Donbas (other: Luhansk).
Borders – Sea of Azov (connected to Black Sea through Strait of Kerch) to south and Russia to east.
Resources – Rich in coal and shale gas (eg. Yuzivska gas field), salt reserves.

Location: Northern Saudi Arabia, one of the 13 administrative regions.
It lies at the northern edge of the Al-Nafūd desert.
Historical Significance: An ancient route for trade and pilgrims between the Arabian Peninsula, Levant, and Egypt.
Notable Feature: Dawmat al-Jandal Lake lies north of the region, largest lake in Saudi Arabia.