Stay updated with the latest national, international, and financial news highlights for November 1 and November 2, 2026. These crucial updates cover key regulatory changes, defence appointments, landmark economic reports, and science & tech milestones essential for competitive examinations and job aspirants.
National & Economic Current Affairs (Nov 1–2, 2026)
- CBIC Implements Key GST Changes: The Central Board of Indirect Taxes and Customs (CBIC) notified key Goods and Services Tax (GST) changes under the Finance Act, 2026, effective from November 1, 2026. Notably, the amended section 54(14) removes the ₹1,000 minimum refund restriction for tax paid on exported goods, providing a major boost to small exporters.
- World Bank Poverty & Equity Brief: According to the World Bank’s latest report released in October/November 2026, India recorded one of the world’s fastest poverty declines, with extreme poverty dropping significantly to 2.6% in 2023 (down from 27.1% in 2011).
- High-Level Committee on Banking for Viksit Bharat: The Government of India constituted a high-level committee chaired by Suresh N. Patel to undertake a comprehensive review of the banking sector and recommend regulatory, structural, and legislative reforms to achieve a resilient economy for Viksit Bharat 2047.
- Coal India’s 51st Foundation Day: Coal India Limited (CIL) celebrated its 51st Foundation Day on November 1, 2026, backed by record-breaking monthly coal production and supply figures that reinforce India’s domestic energy security.
Appointments & Defence Updates
- New Vice Chief of the Air Staff: Air Marshal Inderpal Singh Walia (formerly AOC-in-C of the Eastern Air Command) officially assumed office as the new Vice Chief of the Air Staff (VCAS) of the Indian Air Force (IAF) effective from November 1, 2026.
- Project 18A (Next-Gen Stealth Destroyers): India advanced further in naval modernization with plans for Project 18A, featuring warships with displacements exceeding 13,000 tonnes with nearly 75% indigenous content—marking India’s entry into the global cruiser class.
Science, Tech & Environment
- India’s First Private Fusion Reactor Initiative: Bengaluru-based startup Pranos Fusion announced plans to finalize the design of PRANIK, India’s first privately developed fusion reactor, by 2027 following progress on its compact tokamak research reactor, PRAGYA.
- World Vegan Day 2026: Observed globally on November 1, 2026, marking the 32nd anniversary of World Vegan Day and the 82nd anniversary of The Vegan Society to promote animal welfare and plant-based lifestyles.
Frequently Asked Questions (FAQs)
Who was appointed as the new Vice Chief of the Air Staff in November 2026?
Air Marshal Inderpal Singh Walia took over as the new Vice Chief of the Air Staff (VCAS) of the IAF effective November 1, 2026.
What key change was introduced by the CBIC under the Finance Act, 2026?
The CBIC removed the ₹1,000 minimum refund restriction for tax paid on goods exported out of India, benefiting small-scale exporters.
Disclaimer: CareerPulse Alerts compiles daily current affairs and national digests for competitive exam preparation and general awareness purposes. Candidates are advised to cross-verify details with official government portals.