Current Affairs Study Notes - March 2026

NATIONAL AFFAIRS

Cabinet Approvals March 2026

  • Jal Jeevan Mission (JJM 2.0) Extension:     * The Union Cabinet, chaired by PM Narendra Modi, approved the extension of the Jal Jeevan Mission until 20282028 with an enhanced total outlay of Rs. 8.69 lakh croreRs.\,8.69\,lakh\,crore.     * Target: Provide tap water connections to all 19.36 crore19.36\,crore rural households by December 20282028.     * Focus Shift: Transitioning from infrastructure creation to sustainable service delivery and drinking water governance.     * Digital Framework: Launch of ‘Sujalam Bharat’ to map the system from source to tap; Assigning ‘Sujal Gaon / Service Area Identification (ID)’ for monitoring.

  • Foreign Direct Investment (FDI) Amendments:     * Approved amendments to FDI rules for Land Border Countries (LBCs) including China, Pakistan, Bangladesh, Nepal, Bhutan, Myanmar, and Afghanistan.     * The goal is to streamline approvals while ensuring national security and economic safeguards, following the original update of April 17, 202017,\,2020.

  • Major Infrastructure Projects (March 10, 2026):     * Madurai Airport: Granted International Airport status, becoming the fourth in Tamil Nadu (after Chennai, Coimbatore, and Tiruchirappalli).     * Railways: Approved multitracking projects in West Bengal and Jharkhand worth Rs. 4,474 croreRs.\,4,474\,crore.     * Roads: Approved a Rs. 3,631 croreRs.\,3,631\,crore project in Haryana/Uttar Pradesh and a Rs. 3,839 croreRs.\,3,839\,crore highway widening project in Madhya Pradesh.     * Initiatives fall under the Pradhan Mantri Gati Shakti National Master Plan (PMGS-NMP).

  • Bharat Audyogik Vikas Yojna (BHAVYA):     * Approved Rs. 33,660 croreRs.\,33,660\,crore for developing 100100 plug-and-play industrial parks.     * Financial Assistance: Up to Rs. 1 croreRs.\,1\,crore per acre for core, value-added, and social infrastructure (housing, test labs, etc.).

  • Clean Energy & Small Hydro Power (SHP):     * Approved the ‘SHP Development Scheme’ for Financial Year 2026ext−272026 ext{-}27 to 2030ext−312030 ext{-}31 (FY27FY27 to FY31FY31).     * Total Outlay: Rs. 2584.60 croreRs.\,2584.60\,crore to install approximately 1500 MW1500\,MW capacity.     * Central Financial Assistance (CFA): Rs. 3.6 croreRs.\,3.6\,crore per MWMW or 30%30\% of project cost (whichever is lower), capped at Rs. 30 croreRs.\,30\,crore per project for NE states and international border districts.

  • Cotton MSP and Road Projects (CCEA):     * Approved Minimum Support Price (MSP) funding of Rs. 1,718.56 croreRs.\,1,718.56\,crore for the Cotton Corporation of India (CCI) for the 2023ext−242023 ext{-}24 season.     * Sanctioned Rs. 6,969.04 croreRs.\,6,969.04\,crore for a 44-lane access-controlled highway on NHext−927NH ext{-}927 (Barabanki to Bahraich, 101.515 km101.515\,km) in Uttar Pradesh.

  • Regional Connectivity Scheme (UDAN):     * Revamped as ‘Modified Ude Desh ka Aam Naagrik (UDAN)’.     * Timeline: 1010-year period from FY27FY27 to FY36FY36.     * Financial Outlay: Rs. 28,840 croreRs.\,28,840\,crore.

  • Immigration Modernization (IVFRT):     * Extended the Immigration, Visa, Foreigners Registration & Tracking (IVFRT) Scheme until March 31, 203131,\,2031, with a budget of Rs. 1,800 croreRs.\,1,800\,crore.

  • Nationally Determined Contribution (NDC) Targets for 2031–2035:     * Emissions Intensity: Target to reduce GDP emissions intensity by 47%47\% by 20352035 compared to 20052005 levels (up from 36%36\% reduction reached during 2005ext−20202005 ext{-}2020).     * Non-Fossil Fuel: Target for 60%60\% of installed electric power capacity to come from non-fossil sources by 20352035.     * Carbon Sink: Goal to create an additional 3.5ext−4 billion tonnes3.5 ext{-}4\,billion\,tonnes of CO2CO_2 equivalent through forest/tree cover by 20352035.

Tribal Arts and Culture Festivals

  • The Ministry of Tribal Affairs (MoTA) announced three flagship festivals in New Delhi:     * Tribes Art Fest (TAF) 2026: March 2–132–13 at Travancore Palace Art Gallery.     * Living Roots Festival (LRF): March 13–1513–15 at Bikaner House and India Gate.     * Bharat Tribes Fest (BTF) 2026: March 18–3018–30 at Sunder Nursery.

State-Specific National News

  • Andhra Pradesh: Launch of ‘Project HANUMAN’ (Healing and Nurturing Units for Monitoring, Aid and Nursing of Wildlife) by Deputy CM Pawan Kalyan to mitigate human-wildlife conflict.

  • Chandigarh: Launch of Centre of Excellence (CoE) in Smart Healthcare at Chandigarh University to integrate Artificial Intelligence in health governance.

  • Chhattisgarh: CM Vishnu Deo Sai launched ‘Gaudham Yojana’ to establish 1,4601,460 cattle shelters named Surabhi Gaudham.

  • Delhi Budget (FY27): Presented by CM Rekha Gupta; Total outlay of Rs. 1,03,700 croreRs.\,1,03,700\,crore. Includes Rs. 260 croreRs.\,260\,crore for free LPG cylinders on Holi and Diwali.

  • Goa Budget (FY27): CM Pramod Sawant presented a Rs. 30,195 croreRs.\,30,195\,crore budget with a projected revenue surplus of Rs. 1,666 croreRs.\,1,666\,crore.

  • Gujarat Uniform Civil Code: Passed ‘Gujarat Uniform Civil Code, 2026’, the second state after Uttarakhand. Failure to register live-in relationships within 1 month1\,month can result in 3 months3\,months imprisonment or a Rs. 10,000Rs.\,10,000 fine.

  • Haryana Budget (FY27): Outlay of Rs. 2.23 lakh croreRs.\,2.23\,lakh\,crore; Fiscal deficit projected at 2.65%2.65\% of GDP (Rs. 40,293.17 croreRs.\,40,293.17\,crore).

  • Himachal Pradesh: CM Sukhvinder Singh Sukhu presented a Rs. 54,928 croreRs.\,54,928\,crore budget. Signed 33 MoUs with NDDB to boost milk processing.

  • Karnataka Budget (FY27): Outlay of Rs. 4.48 lakh croreRs.\,4.48\,lakh\,crore; Capital Expenditure estimated at Rs. 74,682 croreRs.\,74,682\,crore; Fiscal deficit at 2.95%2.95\% of GSDP.

  • Maharashtra Budget (FY27): Total outlay of Rs. 7.69 lakh croreRs.\,7.69\,lakh\,crore. Includes ‘Punyashlok Ahilyabai Holkar Farmers’ Loan Waiver Scheme’ covering loans up to Rs. 2 lakhRs.\,2\,lakh outstanding as of September 3, 20253,\,2025.

  • Punjab Budget (FY27): Outlay of Rs. 2,60,437 croreRs.\,2,60,437\,crore; GSDP projected growth of 10%10\%; Fiscal deficit at 4.08%4.08\% of GSDP.

  • Tamil Nadu: Inauguration of the state's first ‘Dark Sky Park’ at Ariyur Shola Reserve Forest, Kolli Hills (Rs. 1 croreRs.\,1\,crore cost).

  • Telangana Budget (FY27): Total outlay of Rs. 3,24,234 croreRs.\,3,24,234\,crore with a vision to reach a 1 trillion USD1\,trillion\,USD economy by 20342034.

  • Uttar Pradesh: Launch of ‘Nivesh Mitra 3.0’ for Ease of Doing Business and ‘UP Private Business Park Development Scheme-2025’.

  • Uttarakhand Budget (FY27): Outlay of Rs. 1,11,703.21 croreRs.\,1,11,703.21\,crore focusing on the GYAN model (Garib, Yuva, Annadata, Nari Shakti).

Launches and Inaugurations

  • Saksham Skill Census: India's first AI-driven skill census launched in Mumbai by Ashish Shelar for youth aged 18–4018–40.

  • Census-2027 Tools: Union Minister Amit Shah unveiled mascots ‘Pragati’ and ‘Vikas’. Tools launched: Houselisting Block Creator (HLBC), HLO Mobile App, Self-Enumeration Portal, and CMMS Portal.

  • Gyan Bharatam National Manuscript Survey: Three-month nationwide exercise to map India’s manuscript heritage; uses International Image Interoperability Framework (IIIF).

  • PRARAMBH 2026: Income Tax awareness campaign launched by FM Nirmala Sitharaman for the Income Tax Act, 2025 (effective April 1, 20261,\,2026). Features AI chatbot ‘Kar Saathi’.

  • Inland Waterways (Assam): Sarbananda Sonowal inaugurated projects on NWext−2NW ext{-}2 including the Bogibeel Complex (Customs & Immigration) and Dhubri Gateway.

  • Noida International Airport (NIA): PM Modi inaugurated Phase I at Jewar (Rs. 11,200 croreRs.\,11,200\,crore). Built via PPP with Zurich Airport International AG.

  • National AI Skilling Initiative: Partnership with Google/YouTube to train 15,00015,000 creative sector participants.

  • Dam Safety Initiatives: Launch of ‘NETRA’ (AI-engine for tracking), ‘RBSD’ (visualization platform for break analysis), and the new NDSA website.

Science and Technology Developments

  • EV Drive System: MeitY launched a 30 kW30\,kW Wide Band Gap (WBG)-based Integrated Drive System (IDS) developed at IIT Madras.

  • Quantum Teaching Labs: Approved in 2323 institutions under the National Quantum Mission (NQM).

  • Neodymium-Iron-Boron (Nd-Fe-B) Pilot Plant: Established in ARCI Hyderabad to produce rare earth permanent magnets.

  • India's First Hydrogen Train: Successful oscillation trials completed; to run between Jind and Sonipat (Haryana).

  • AVATAAR: India’s first amphibious surveillance drone capable of transitioning between air and underwater, launched by AquaAirX.

BANKING & FINANCE

RBI News and Penalties

  • Bilateral Swap Arrangement (BSA): RBI and Bank of Japan renewed a swap arrangement for up to USD 75 billionUSD\,75\,billion effective February 28, 202628,\,2026.

  • Monetary Penalties:     * Mahindra & Mahindra Financial Services (MMFSLMMFSL): Rs. 11.50 lakhRs.\,11.50\,lakh.     * HSBC India: Rs. 31.80 lakhRs.\,31.80\,lakh for non-compliance regarding unclaimed deposits.     * Manappuram Finance: Rs. 2.70 lakhRs.\,2.70\,lakh for KMP compensation guideline violations.

  • Payment Aggregator: CRED (Dreamplug Technologies) authorized to operate as a Payment Aggregator.

  • Payment Vision 2028: Titled ‘Shaping India’s Payment Frontier’; focus on cross-border frameworks and fraud safeguards.

  • Bank Dividend Framework: Revised norms for FY27FY27; Maximum dividend payout capped at 75%75\% of Profit After Tax (PAT).

SEBI & Market Intermediaries

  • Sudarshan AI: In-house system deployed to monitor and remove misleading financial influencer claims (1.2 lakh1.2\,lakh posts removed).

  • Verified App Label: Initiative helping investors identify genuine apps of SEBI-registered intermediaries on the Play Store.

  • Social Impact Fund (SIF): Minimum investment for individual investors reduced from Rs. 2 lakhsRs.\,2\,lakhs to Rs. 1000Rs.\,1000.

Loans and Agreements

  • ADB Loans:     * USD 300 millionUSD\,300\,million to IIFL Home Finance for affordable housing targeting women.     * USD 100 millionUSD\,100\,million to Motilal Oswal Home Finance (MOHFLMOHFL) via NCDs.

  • World Bank Loan: USD 300 millionUSD\,300\,million to Uttar Pradesh for the ‘Clean Air Plan’ transition.

  • JICA Agreements: Signed ODAODA loan agreements worth Rs. 16,420 croreRs.\,16,420\,crore for four major projects in Punjab, Maharashtra, and Karnataka.

  • Social Term Loan: State Bank of India (SBISBI) launched a USD 500 millionUSD\,500\,million syndicated social loan to boost women's empowerment.

  • Green Infrastructure Bonds: Bank of Baroda (BoBBoB) raised Rs. 10,000 croreRs.\,10,000\,crore via Series-I long-term bonds (first bank in India to do so).

ECONOMY & BUSINESS

GDP Projections

  • NSO (FY26): Real GDP growth estimated at 7.6%7.6\%; Nominal GDP growth at 8.6%8.6\%

  • CRISIL (FY27): Projected at 7.1%7.1\%

  • Fitch Ratings (FY26): Projected at 7.5%7.5\%

  • Goldman Sachs (CY2026): Lowered to 5.9%5.9\% due to West Asia conflict impacts.

  • OECD (FY27): Projected at 6.1%6.1\%

Major Agreements

  • Reliance Industries & Samsung C&T: Signed a USD 3 billionUSD\,3\,billion deal for the supply of Green Ammonia over a 1515-year period starting FY29FY29.

  • Most Favoured Nation (MFN) Status: India and the EU agreed to grant each other MFN status for 55 years upon the entry of the Free Trade Agreement.

APPOINTMENTS & RESIGNATIONS

  • Dr. Rajeev Singh Raghuvanshi: Reappointed as Drugs Controller General of India (DCGI) for 1 year1\,year.

  • Lt Gen Dhiraj Seth: Appointed as the next Vice Chief of Army Staff (VCOAS) effective April 1, 20261,\,2026.

  • Balendra Shah: Sworn in as the youngest Prime Minister of Nepal.

  • Jose Antonio Kast Rist: Sworn in as the 38th38^{th} President of Chile.

  • Ayatollah Alireza Arafi / Mojtaba Khamenei: Mojtaba Khamenei appointed Supreme Leader of Iran following Alireza Arafi's interim tenure.

  • M.S. Dhoni: Appointed Brand Ambassador for BHIM Payments Application.

AWARDS & HONOURS

  • The 98th Academy Awards (Oscars 2026):     * Best Picture: ‘One Battle After Another’ (won 66 Oscars).     * Best Actor: Michael B. Jordan (‘Sinners’).     * Best Actress: Jessie Buckley (‘Hamnet’).

  • Jnanpith Award: 60th60^{th} Jnanpith Award (20252025) conferred upon Tamil poet R. Vairamuthu.

  • Saraswati Samman: 35th35^{th} Saraswati Samman (20252025) awarded to Ramkumar Mukhopadhyay for the novel ‘Hara Parbati Katha’.

  • BCCI Naman Awards: Colonel C.K. Nayudu Lifetime Achievement Award given to Roger Binny and Rahul Dravid.

  • Stockholm Water Prize 2026: Kaveh Madani (Director of UNU-INWEH) became the youngest recipient at 4444.

DEFENCE AND EXERCISES

  • Vayushakti-26: Conducted by the Indian Air Force at Pokhran Field Firing Range, Rajasthan.

  • LAMITIYE-2026: 11th11^{th} joint military exercise between Indian and Seychelles Defence Forces.

  • Operation Urja Suraksha: Indian Navy mission to safeguard energy shipments (LNG, Crude Oil) through the Strait of Hormuz.

  • VSHORADS Trials: DRDO conducted three successful flight trials of Very Short-Range Air Defence System at Chandipur.

  • INS Anjadip: Commissioned at Chennai Port; the third of eight indigenously built ASW Shallow Water Crafts (nicknamed ‘Dolphin Hunter’).

IMPORTANT DAYS (MARCH 2026)

  • National Science Day (Feb 28): Theme: ‘Women in Science: Catalysing Viksit Bharat’.

  • World Wildlife Day (Mar 3): Theme: ‘Medicinal and Aromatic Plants: Conserving Health, Heritage and Livelihoods’.

  • International Women’s Day (Mar 8): Theme: ‘Rights. Justice. Action. For ALL Women and Girls’.

  • World Water Day (Mar 22): Theme: ‘Water and Gender’; Slogan: ‘Where water flows, equality grows’.

  • Earth Hour 2026 (Mar 28): Lights switched off from 8:30 pm–9:30 pm8:30\,pm–9:30\,pm (Local Time).

ENVIRONMENT & SPECIES

  • Moniligaster girishi & Drawida reynoldsi: Two new earthworm species discovered in Silent Valley National Park, Kerala.

  • Gitchak nakan: New genus/species of blind miniature fish discovered in a well in Assam.

  • Osbeckia zubeengargiana: New plant species discovered in Manas National Park, named after Assamese musician Zubeen Garg.