National Affairs

PM Narendra Modi Announces 7 Empowered Groups to Address Long-Term Impact of West Asia Conflict

On 24 March 2026, Prime Minister Narendra Modi announced the formation of seven empowered groups to address the long-term strategic and economic impacts of the escalating West Asia conflict on energy supplies, trade routes, and global supply chains, following a review by the Cabinet Committee on Security (CCS).

Overview of 7 Empowered Groups:

Union Minister Ashwini Vaishnaw Launches 5 New Reforms Under 'Reform Express' Initiative

On 24 March 2026, Union Minister Ashwini Vaishnaw, Ministry of Railways (MoR), announced five new reforms in New Delhi under the 'Reform Express' (52 Reforms in 52 Weeks) initiative, raising the total approved reforms in 2026 to nine, focusing on cargo efficiency, construction quality, and passenger convenience.

Overview of 5 New Reforms:

• Salt: Stainless Steel Containers (SSC) with top-loading and side-discharge improve efficiency, reduce losses, and enhance rail share (9.2/35 Million Tonnes (MT)).
• Automobile: Specialised Wagon Design (SWD) with Schedule of Dimensions (SOD) flexibility enables high-capacity, route-specific wagons, boosting rail share (~24% of ~31 Million Units (MU)).
• Construction: Stricter Contractor Eligibility Criteria (CEC), Bid Security (BS), Bid Capacity Assessment (BCA), and reduced Subcontracting Limit (SL) ensure quality, accountability, and timely execution.
• Ticketing: Revised Cancellation and Refund Rules (CRR) with 72/24/8-hour slabs, automatic refunds via Ticket Deposit Receipt removal (TDR), and Aadhaar-based One-Time Password (OTP) improve transparency and convenience.
• Boarding: Digital Boarding Change (DBC) and Travel Class Upgrade (TCU) allowed up to 30 minutes before departure provide greater flexibility without losing confirmed seats.

Gujarat Becomes 2nd State in India to Pass Uniform Civil Code

The Gujarat Legislative Assembly, headed by Chief Minister Bhupendra Patel, passed the Uniform Civil Code (UCC) Bill titled 'Gujarat Uniform Civil Code, 2026', providing a common legal framework to govern marriage, divorce, succession, and live-in relationships irrespective of religion.

With this, Gujarat became the second state in India after Uttarakhand to pass the bill.

Key Provisions:

• Applicable: The new law will extend across Gujarat and apply to its residents even outside the state, but will exclude Scheduled Tribes (STs) and other groups whose customary rights are protected under the Constitution.
• Mandatory: Registration of live-in relationships is now mandatory for couples residing in the state, while it remains optional for residents living outside the state.
• Penalties: Failure to register a live-in relationship within 1 month could attract a maximum 3 months of imprisonment or a fine of Rs 10,000.
• Restriction: The bill prohibits bigamy, stating that a marriage is valid under the UCC only if neither party has a living spouse at the time of marriage.

DPIIT Signs MoU with Blue Star to Support Product-Based Startups

The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry (MoC&I), signed a Memorandum of Understanding (MoU) with Blue Star Limited, a leading Air Conditioning (AC) company, to promote innovation and support startups in India.

• Signatories: T. L. K. Singh, Deputy Secretary of DPIIT; and B. Thiagarajan, Managing Director (MD) of Blue Star Limited, in New Delhi, Delhi.
• Focus: Strengthening India's manufacturing and innovation ecosystem with a focus on Heating, Ventilation, and Air Conditioning (HVAC) technologies, digital solutions, advanced manufacturing, and supply chain innovation.
• Support: Startups will receive mentorship from industry experts along with access to Research and Development (R&D) laboratories and testing facilities for infrastructure support.
• Startup Enablement: The collaboration will promote product-based startups by supporting product validation, Proof-of-Concept (PoC) development, and integration into industry value chains for scalable solutions.

MoR Approves Rail Infrastructure Development Projects in Gujarat and Bihar

On 24 March 2026, the Ministry of Railways (MoR) approved two major rail infrastructure projects with a total cost of Rs 647.58 crore to enhance connectivity, safety, and operational efficiency.

Banking & Finance

JICA Signs Four ODA Loan Agreements Worth Rs 16,420 Crore for Key Projects in India

The Japan International Cooperation Agency (JICA) signed Official Development Assistance (ODA) loan agreements worth Rs 16,420 crore with the Government of India (GoI) to fund 4 major projects across Punjab, Maharashtra, and Karnataka, covering healthcare, agriculture, and urban infrastructure sectors.

HDFC Securities Launches NxtOption to Simplify Advanced Options Trading for Traders

HDFC Securities Limited, a subsidiary of HDFC Bank, launched a next-generation trading platform named "NxtOption", designed to help retail investors examine, build, and execute Futures & Options (F&O) strategies through a single interface.

• Creation & Monitoring: Enables users to create and analyse options strategies such as Straddles, Strangles, and Iron Condors, while allowing real-time tracking through pay-off charts.
• Easy Options: Offers strategy suggestions by converting market views (bullish, bearish, neutral) into relevant strategy ideas, along with risk-reward profiles.
• Advanced Derivatives Analytics: Provides real-time insights into Delta, Gamma, Theta, Vega, Implied Volatility (IV), and Open Interest (OI) trends, along with features such as market movers, rollover insights, and F&O ban list tracking.

Economy & Business

S&P Global Lifts India FY27 GDP Forecast to 7.1%, Raises Growth Outlook

Standard & Poor's (S&P) Global raised India's Gross Domestic Product (GDP) forecast by 40 basis points (bps) to 7.1% for FY 2026-27, reflecting confidence in the country's economic momentum despite global uncertainties.

Appointments & Resignations

KV Ramana Murty Appointed Whole-Time Member of SEBI

The Government of India (GoI) appointed Kompella Venkata (K.V.) Ramana Murty as a Whole-Time Member (WTM) of the Securities and Exchange Board of India (SEBI) for a tenure of three years from the date of assuming charge or until further orders, whichever is earlier.

• Full Complement: With this appointment, SEBI now has its full complement of four WTMs. The other members include Amarjeet Singh, Kamlesh Chandra Varshney, and Sandip Pradhan.
• Profile: He is a retired 1991-batch Indian Defence Accounts Service (IDAS) officer.
• Experience: Extensive experience in public financial administration, having served as Additional Controller General of Defence Accounts under the Ministry of Defence (MoD).
• About SEBI: Established in 1988 and granted statutory powers in 1992, SEBI regulates India's securities markets, protects investors, and ensures market transparency.

Science & Technology

Agnikul Cosmos Successfully Test Fires World's First Fully 3D-Printed Booster Engine 'Agnite' in Chennai, TN

Agnikul Cosmos Private Limited, an end-to-end space transportation company, successfully conducted a critical booster engine test of its rocket engine 'Agnite' at the Agnikul Launchpad (ALP-01) in Chennai, Tamil Nadu.

This test marked a major milestone in India's private space sector, with Agnikul Cosmos successfully testing a full metre-long rocket engine.

• Objective: The test aimed to validate the engine's performance, structural integrity, and propulsion efficiency for future launch missions.
• Test Outcome: The successful outcome demonstrated Agnikul's advanced capability in large-scale three-dimension (3D) printing and marked a significant milestone in enhancing launch readiness, cost efficiency, and rapid turnaround time in India's private space sector.

State News

Delhi CM Rekha Gupta Presents Rs 1.03 Lakh Crore Budget for FY27

Chief Minister Rekha Gupta, who also holds the Finance portfolio, presented the annual budget of Rs 1,03,700 crore for FY 2026-27 in the Union Territory (UT) legislative assembly in New Delhi, Delhi. The budget outlay marks an increase of 3.7% compared to last year's budget (Rs 1 lakh crore).

Sector-Wise Allocations:

UP CM Yogi Adityanath Launches 'Nivesh Mitra 3.0' for Enhanced Ease of Doing Business

On 24 March 2026, Chief Minister Yogi Adityanath launched 'Nivesh Mitra 3.0' in Lucknow, Uttar Pradesh, an upgraded digital single-window platform aimed at enhancing Ease of Doing Business (EoDB) in the state.

During the event, he also unveiled the 'UP Private Business Park Development Scheme-2025' and the 'Plug-and-Play Industrial Sheds Scheme' to boost industrial infrastructure.

• Integrated Digital System: The platform integrates over 530 services from more than 43 departments into fewer than 200 streamlined digital services, with a Permanent Account Number (PAN)-based single user ID for unified access and end-to-end monitoring.
• Support: The Combined Application Form (CAF) enables single-interface multi-department approvals, while an Artificial Intelligence (AI)-based chatbot provides instant assistance along with real-time SMS alerts and application tracking for transparency.
• Integration: Integrated with the National Single Window System (NSWS), Integrated Grievance Redressal System (IGRS), and Geographic Information System (GIS)-based land bank for seamless coordination and land identification.

Important Days at a Glance