National Affairs

NSO Released Publication "Energy Statistics India 2026"

On March 30, 2026, the National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) released the 33rd edition of its annual publication, "Energy Statistics India 2026", providing a comprehensive dataset on India's energy reserves, capacity, production, consumption, and import/export of all energy commodities for FY 2024-25.

Key Highlights:

• Surge in RE Potential: India's Renewable Energy (RE) potential stood at 47,04,043 MegaWatt (MW) as on March 31, 2025.

• Credit Flow: Credit flow to the energy sector increased more than 6 times — from Rs 1,688 crore (2021) to Rs 10,325 crore (2025).
• Regional Concentration: Over 70% of India's total RE generation potential is concentrated in six states:

MeitY Approves 29 Projects Worth Rs 7,104 Crore under 4th Tranche of ECMS

The Ministry of Electronics and Information Technology (MeitY) approved 29 proposals under the 4th tranche of the Electronics Components Manufacturing Scheme (ECMS) with a projected investment of Rs 7,104 crore, projected production of Rs 84,515 crore, and 14,246 direct employment opportunities.

Following earlier approval of 46 applications, a total of 75 applications have now been approved under ECMS, with expected investments of Rs 61,671 crore and direct employment for 65,040 people.

• Coverage: Approvals span 16 products with cross-sectoral applications across mobile, telecom, consumer electronics, automotive, strategic electronics, and IT hardware.
• Components:
• 1 sub-assembly: Display Modules
• 11 bare components: Antennas, Capacitors, Connectors, Heat Sinks, Li-ion Cells, Relays, Resistors, Transducers, SMD Passives, Flexible PCB, and Inductors
• 3 supply chain items: Laminates, Metallized films for Capacitors, and Rare Earth Permanent Magnets
• Capital Goods and their parts
• Major Investments: Rs 1,683 crore in capital goods (6 proposals) and Rs 1,350 crore in display module manufacturing (2 proposals).

PM E-DRIVE Subsidy Extended till July 31, 2026 for Electric Two-Wheelers

The Ministry of Heavy Industries (MHI) extended the demand subsidy for electric two-wheelers (e-2Ws) under the Prime Minister's Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme till July 31, 2026, providing an additional four months beyond March 31, 2026.

• Extension: Subsidy for e-2Ws overall scheme continues till 31 March 2028, with electric three-wheelers (e-3Ws) supported throughout the scheme period.
• Processing: Incentives are processed through the VAHAN (National Vehicle Registration) portal.

CCRAS Signs MoU with Anuvadini AI to Translate Ayurveda Research into 13 Languages

The Central Council for Research in Ayurvedic Sciences (CCRAS), under the Ministry of AYUSH, signed a Memorandum of Understanding (MoU) with Anuvadini AI, an AI voice-to-voice translation platform, to make evidence-based Ayurveda research accessible in 13 regional languages, including Hindi.

The MoU was signed by Prof. Vaidya Rabinarayan Acharya, Director General (DG) of CCRAS, and Dr. Buddha Chandrasekhar, CEO of Anuvadini AI.

• Objective: Expand access to evidence-based Ayurveda knowledge, overcome language barriers, and ensure equitable dissemination across India.
• Technology: Utilizes AI-based translation by Anuvadini, developed by the All India Council for Technical Education (AICTE) under Ministry of Education (MoE).
• Translation: CCRAS, the apex Ayurveda research body with 30 institutes across 25 states, will use AI to translate its research outputs, CCRAS Bulletin, and IEC materials into 13 regional languages.

DGCA and Gati Shakti Vishwavidyalaya Sign MoU to Train Youth in Aviation

The Directorate General of Civil Aviation (DGCA), Ministry of Civil Aviation (MoCA), signed a Memorandum of Understanding (MoU) with Gati Shakti Vishwavidyalaya (GSV), Ministry of Railways (MoR), to enhance skill development in the aviation sector.

The MoU was signed by DG Faiz Ahmed Kidwai (DGCA) and Vice Chancellor Prof. Manoj Choudhury (GSV), in the presence of Union Ministers Kinjarapu Rammohan Naidu (MoCA) and Ashwini Vaishnaw (MoR).

• Objective: Develop skilled manpower for the aviation and Maintenance, Repair and Overhaul (MRO) sector while strengthening industry–academia collaboration.
• Program: Launch a 3-year Bachelor of Science (B.Sc.) in Aviation Maintenance Engineering (AME) from August 2026 (2026–27), integrating academic knowledge, DGCA standards, and industry requirements.
• Curriculum: Aligned with Civil Aviation Requirements (CAR)-66 and CAR-147 frameworks while advancing research in Sustainable Aviation Fuels (SAF), aircraft maintenance, and parts manufacturing.
• Growth: Supports Aatmanirbhar Bharat and Viksit Bharat goals amid rapid expansion with over 240 MRO units, ~1,700 aircraft orders, a projected fleet of 3,000 by 2036, and demand for 10,000–12,000 pilots.

MoD & BEL Sign Rs 1,950 Crore Contract for Mountain Radars for IAF

The Ministry of Defence (MoD) signed a capital acquisition contract worth Rs 1,950 crore with Bharat Electronics Limited (BEL) for the procurement of two Mountain Radar systems for the Indian Air Force (IAF).

The contract was signed in New Delhi under the Buy (Indian–IDDM) category, reinforcing the Aatmanirbhar Bharat and Make in India initiatives.

• Development: Indigenously designed by Electronics and Radar Development Establishment (LRDE) under DRDO and manufactured by BEL.
• Features: Designed for high-altitude terrain to overcome line-of-sight and harsh weather challenges while detecting fighter aircraft, drones, and cruise missiles.
• Operations: Enhances border surveillance, early warning, situational awareness, and response time within the integrated air defence network.
• Significance: Strengthens national security, reduces import dependence, promotes indigenous manufacturing, and supports domestic industries and MSMEs.

Government Extends PM KUSUM Project Deadline to March 2027

The Ministry of New and Renewable Energy (MNRE) extended the timeline for commissioning certain projects under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM KUSUM) scheme.

• Eligibility: Extension applies to projects where Power Purchase Agreements (PPAs) or Letters of Intent (LoIs) were signed or issued on or before December 31, 2025.
• Revised Timeline: Commissioning deadline extended to March 31, 2027.
• Scheme Target: Aims to add 34,800 MW of solar capacity with central financial assistance of Rs 34,422 crore, originally targeted for completion by March 2026.
• About PM KUSUM: Launched in 2019 to promote solar energy use in agriculture and reduce dependence on diesel and grid electricity. Under its funding pattern, Central and State Governments each provide 30% subsidy, while farmers contribute 40% (with provision for bank loans).

Banking & Finance

MoF Keeps Interest Rates on Small Savings Schemes Unchanged for Q1FY27

The Department of Economic Affairs (DEA-Budget Division) under the Ministry of Finance (MoF) retained interest rates unchanged across all Small Savings Schemes (SSS) for Q1 FY27 (April 1 to June 30, 2026), as per the rates notified for Q4FY26.

RBI Extends Implementation of Revised CME Framework to July 01, 2026

The Reserve Bank of India (RBI) extended the implementation of its revised Capital Market Exposure (CME) framework by another 3 months to July 01, 2026 (originally scheduled for April 01, 2026).

In February 2026, RBI issued the final Amendment Directions on CME, aimed at providing an enabling framework for banks to finance acquisitions by Indian corporates.

• Modified Definition of Acquisition Finance: Now includes mergers and amalgamations. Acquisition finance may be extended only to acquiring control over non-financial target companies.
• Loans Against Securities:

IRDAI Mandates India's Insurers to Adopt Ind AS from April 01, 2026

The Insurance Regulatory Development Authority of India (IRDAI) mandated insurers to prepare and present financial statements in accordance with applicable Indian Accounting Standards (Ind AS) effective from April 01, 2026.

The decision was taken during IRDAI's 135th meeting, approving the IRDAI (Actuarial, Finance, and Investment Functions of Insurers) (Amendment) Regulations, 2026.

• Applicability: Implementation applies to all categories of insurers — life, general, standalone health insurers, and reinsurers.
• Reporting Time Period: Approved new regulations providing parallel reporting for 2 years, covering financial statements in Ind AS alongside financial information under the existing accounting framework.

RBI Imposes Rs 31.80 Lakh Penalty on Airtel Payments Bank

The Reserve Bank of India (RBI) imposed a monetary penalty of Rs 31.80 lakh on Airtel Payments Bank Limited for non-compliance with regulatory directions related to Disclosure in Financial Statements for FY 2024-25.

• Legal Basis: Penalty imposed under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
• Inspection: RBI conducted the Statutory Inspection for Supervisory Evaluation (ISE 2025) based on the bank's financial position as of March 31, 2025.
• Clarification: The action pertains only to regulatory compliance deficiencies and does not affect the validity of customer transactions or agreements.

Science & Technology

GRSE Kolkata Delivers Three Frontline Warships — Dunagiri, Sanshodhak, and Agray — to IN

Garden Reach Shipbuilders and Engineers Ltd (GRSE), an Indian Defence Public Sector Unit (PSU), delivered three frontline platforms to the Indian Navy (IN), marking a major milestone for indigenous defence manufacturing.

Obituary

Former Suriname President Chandrikapersad Santokhi Passed Away

Former President of Suriname Chandrikapersad "Chan" Santokhi, a prominent leader of the Indian diaspora, passed away at the age of 67.

He served as the President of Suriname from 2020 to 2025, a period marked by significant economic reforms and deepening of ties with India.

• Honour: Awarded the Pravasi Bharatiya Samman (the highest Indian award for Overseas Indians, instituted by the Ministry of External Affairs) on 9 January 2021 during the Pravasi Bharatiya Divas.
• Significance: Became the first Surinamese President to take oath in Sanskrit, symbolising strong cultural links with India and highlighting the role of the Indian diaspora.

State News

SCAP, CSIR-NIScPR Sign MoU to Strengthen Science Communication and Evidence-Based Policymaking

The Science City of Andhra Pradesh (SCAP) under the Department of Infrastructure and Investment (DII) of AP Government signed a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research-National Institute of Science Communication and Policy Research (CSIR-NIScPR) in New Delhi.

• Aim: To bolster science communication, promote research collaboration, and support evidence-based policymaking in Science, Technology and Innovation (STI).
• Nodal Officers: Dr. Geetha Vani Rayasam (Director, CSIR-NIScPR); Dr. Yogesh Suman and Dr. NK Prasanna.
• Key Features: Joint research projects, outreach programmes, development of educational content, mentorship support, and promotion of scientific journals and knowledge resources.
• About CSIR-NIScPR: A constituent laboratory under CSIR, Ministry of Science and Technology (MoST). Formally came into existence on April 01, 2021, following the merger of erstwhile CSIR-NISCAIR and CSIR-NISTADS.

Punjab CM-led Cabinet Approves Mukh Mantri Mawan Dheeyan Satkar Yojana

The Punjab Cabinet, led by Chief Minister Bhagwant Singh Mann, approved a new women-centric scheme named "Mukh Mantri Mawan Dheeyan Satkar Yojana (MMMDSY)".

• Budget: Punjab government sanctioned Rs 9,300 crore for the scheme in the state budget for FY 2026-27.
• DBT Initiative: Designed as a Direct Benefit Transfer (DBT) initiative — funds transferred directly into bank accounts of eligible women beneficiaries.
• Eligibility Criteria: Expected to benefit nearly 97% of adult women in the state. Women aged 18 years or above and registered as a voter in Punjab.
• Monthly Financial Assistance: