Daily Current Affairs

The Union Cabinet, chaired by PM Narendra Modi, approved the Bharat Audyogik Vikas Yojna (BHAVYA) — a landmark industrial infrastructure scheme with an outlay of Rs 33,660 crore — to develop 100 world-class plug-and-play industrial parks across all States and UTs.

• Nodal Ministry – Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry
• Implementing Agency – National Industrial Corridor Development Corporation (NICDC); currently overseeing 20 industrial projects across 13 states
• Park Size – 100 to 1,000 acres; pre-approved land with core infrastructure, value-added facilities (sheds, labs, warehousing), and social infrastructure (worker housing)
• Financial Support – Up to Rs 1 crore/acre for in-park infrastructure; up to 25% of project cost for external connectivity (roads, rail, logistics)
• Key Features – Single-window clearance; PM GatiShakti-aligned; underground utility corridors (no-dig environment); green energy solutions
• Employment – Expected to generate ~15 lakh direct jobs; covers MSMEs, startups, large manufacturers, and global investors
• Selection Mechanism – Challenge-based; only well-planned, investment-ready proposals approved

The Union Cabinet approved the Small Hydro Power (SHP) Development Scheme for FY 2026–27 to FY 2030–31, with an outlay of Rs 2,584.60 crore, targeting installation of ~1,500 MW of small hydro projects (capacity: 1–25 MW each). Hailed by Defence Minister Rajnath Singh as a transformative clean energy initiative.

• Investment Leverage – Expected to catalyse Rs 15,000 crore in total sector investment
• Support Rates – NE & border states: Rs 3.6 crore/MW (or 30% of cost, max Rs 30 crore/project); Other states: Rs 2.4 crore/MW (or 20% of cost, max Rs 20 crore/project)
• DPR Pipeline – Rs 30 crore earmarked for Detailed Project Reports (DPRs) for 200 future projects
• Atmanirbhar Focus – 100% plant and machinery must be from domestic sources
• Beneficiaries – Hilly and North Eastern states; reduces transmission losses through decentralised power generation
• Target Alignment – Supports India’s 500 GW non-fossil fuel capacity target by 2030

The Union Cabinet approved the 4-laning of the Barabanki–Bahraich highway in Uttar Pradesh at a cost of Rs 6,969 crore. The project will improve connectivity to the India-Nepal border region, boost trade, and ease access to the Terai belt.

The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Modi, approved Minimum Support Price (MSP) funding of Rs 1,718.56 crore to the Cotton Corporation of India (CCI) for the cotton season 2023–24, providing direct price support for cotton farmers.

Union Minister of Power Manohar Lal inaugurated the Bharat Electricity Summit 2026 — India’s premier global conference-cum-exhibition for the power sector — held from 19–22 March 2026 at Yashobhoomi (IICC), Dwarka, New Delhi. Organised under the patronage of the Ministry of Power.

• Investment Opportunity – Highlights India’s Rs 200 lakh crore investment opportunity in the power sector
• Focus Areas – Energy security, renewable energy, smart grids, power infrastructure, clean transition
• Venue – Yashobhoomi (IICC): India International Convention and Expo Centre, Dwarka — among Asia’s largest MICE venues (Meetings, Incentives, Conferences, Exhibitions)

The hill region surrounding the historic Kalinjar Fort in Banda district, Uttar Pradesh, has been officially designated as a National Geo-Heritage Site by the Geological Survey of India (GSI), recognising the area’s unique geological formations and their significance for understanding India’s geological history.

• Kalinjar Fort – Ancient hill fort ~108 km south of Allahabad; associated with the Chandela dynasty; perched atop the Vindhya Range at ~700 m elevation; known for rock-cut temples, inscriptions, and the Neelkanth temple
• GSI – Geological Survey of India; established 1851; under Ministry of Mines; oldest geoscientific organisation in the country

The Indian Navy commenced the second edition of IOS SAGAR from 16 March 2026, reinforcing India’s commitment to maritime cooperation across the Indian Ocean Region (IOR). The initiative involves naval personnel from 16 friendly foreign countries.

• SAGAR – Security and Growth for All in the Region — India’s core vision for the Indian Ocean, articulated by PM Modi
• IOS – Indian Ocean Ship — a deployable platform for training and capacity building of partner nations’ maritime forces
• Indian Ocean Region – 36 littoral nations; key strategic choke points: Strait of Hormuz, Strait of Malacca, Bab-el-Mandeb, Suez Canal
• 1st Edition – Launched 2025; 2nd edition underscores India’s growing strategic footprint in the IOR

An Indian-flagged crude oil tanker, Jag Laadki, successfully docked at Mundra Port, Gujarat, carrying over 80,000 metric tonnes of crude oil, strengthening India’s energy security amid ongoing tensions in West Asia and concerns about supply disruptions around the Strait of Hormuz.

• Energy Security Context – India invoked the Essential Commodities Act (ECA) for LPG/natural gas; LPG domestic production up 40%; government directed refineries to maximise LPG output
• Mundra Port – India’s largest private port; operated by Adani Ports; located in Kutch district, Gujarat

Atanu Chakraborty resigned as Part-Time Chairman and Independent Director of HDFC Bank with immediate effect on 18 March 2026, citing practices within the bank “not in congruence with my personal values and ethics.” RBI approved the appointment of Keki Mistry as interim Part-Time Chairman effective 19 March 2026 for 3 months.

• Market Impact – HDFC Bank shares fell sharply, wiping out ~Rs 1 lakh crore in market capitalisation
• Chakraborty Background – 1985-batch IAS officer (Gujarat cadre); appointed Part-Time Chairman in May 2021 after retiring as Secretary, Department of Economic Affairs; oversaw the landmark HDFC Bank–HDFC Ltd mega-merger (~$40 billion)
• Keki Mistry – Named RBI-approved interim chairman for 3 months while a permanent replacement is identified
• MD & CEO – Sashidhar Jagdishan; confirmed board had asked Chakraborty to reconsider but he did not relent

Scientists have decoded the evolution of the Ladakh Magmatic Arc (LMA) in the north-western Himalaya, uncovering a geological record spanning nearly 130 million years. The arc provides crucial insights into the tectonic history of the Indian subcontinent, particularly the ancient collision between the Indian and Eurasian plates that formed the Himalayas.

• Significance – Implications for understanding mineral deposit formation and geohazard assessment in the Himalayan region
• Magmatic Arc – A chain of volcanoes formed above a subduction zone; LMA formed due to subduction of the Tethys oceanic crust under Eurasia

India is evaluating the possibility of joining one of Europe’s sixth-generation fighter aircraft programmes — either FCAS or GCAP — as part of its long-term air force modernisation strategy under Atmanirbhar Bharat.

• India’s current fleet – Rafale (French), Su-30 MKI (Russian), Tejas Mk1A (indigenous)
• Objective – Gain access to advanced 6th-gen technology; align with Atmanirbhar Bharat goals

The International Day of Happiness is observed globally on 20 March every year. Established by the UN General Assembly through Resolution A/RES/66/281 on 28 June 2012; first observed on 20 March 2013.

• Initiated by – Bhutan, a country that measures Gross National Happiness (GNH) rather than solely GDP
• 2026 Theme – ‘Caring Communities’ — emphasising human connection, social support, and mental well-being
• World Happiness Report – Published annually by UN SDNS (Sustainable Development Solutions Network); ranks 146+ countries; Finland has topped for several consecutive years
• India 2026 Rank – Around 118th, reflecting scope for improvement in social support and freedom indices

World Sparrow Day is observed every year on 20 March to raise awareness about the declining population of house sparrows (Passer domesticus) and other common urban birds, threatened by rapid urbanisation, loss of nesting sites, pesticide use, and declining insect populations.

• Founded – By the Nature Forever Society (NFS, India), led by Mohammed Dilawar, in 2010; supported by the Eco-Sys Action Foundation (France)
• 2026 Theme – ‘I Love Sparrows’ — ongoing awareness campaign; focuses on citizen action to protect sparrow habitats
• Conservation Status – House sparrow listed as ‘Red’ (highest concern) on the UK’s Birds of Conservation Concern list; significant declines across Europe, South Asia, and India
• Mohammed Dilawar – Called ‘Birdman of India’; Whitley Award winner for conservation work

20 March 2026 marks the Vernal (Spring) Equinox in the Northern Hemisphere — the astronomical first day of spring. On this day, the Sun crosses the celestial equator from south to north, resulting in approximately equal hours of day and night (12 hours each) across the globe.

• Etymology – Latin: aequus (equal) + nox (night)
• Astronomical significance – Marks the beginning of spring in the Northern Hemisphere; used to calculate the date of Easter in the Western Christian calendar
• India context – Coincides with Chaitra Navratri (began 19 March), Gudi Padwa, Ugadi, and approach of Eid-ul-Fitr (expected 21 March 2026)

Eid-ul-Fitr 2026 (Id-ul-Fitr) is expected to be celebrated on 21 March 2026 (Friday), marking the end of the holy month of Ramadan (Ramzan). The official date is determined by the sighting of the Shawwal crescent moon on the evening of 20 March 2026.

• Jumat-ul-Vida – 20 March 2026; last Friday of Ramadan; a Restricted (Optional) Government Holiday under Central Government Holiday List 2026
• Id-ul-Fitr – 21 March 2026 (tentative); a Gazetted Holiday — all central government offices closed
• Significance – Marks completion of 30 days of fasting; begins with Salat ul-Eid (Eid prayers); celebrated with Zakat al-Fitr (obligatory charity), family gatherings, and feasts