12 March 2026

The Ministry of Finance released its mid-year Fiscal Responsibility and Budget Management (FRBM) review, confirming the fiscal deficit at 4.9% of GDP for 2025-26, on track toward the 4.5% target mandated by the FRBM Act, 2003. Revenue receipts exceeded estimates by ₹85,000 crore, aided by robust direct tax collections and GST buoyancy of 1.4.

The Election Commission of India announced simultaneous assembly elections for Bihar, Assam, Kerala, and Puducherry, with Model Code of Conduct (MCC) taking immediate effect. The ECI also announced the use of Voter Verifiable Paper Audit Trail (VVPAT) with 100% paper trail verification at 5 randomly selected booths per constituency, following Supreme Court directives.

India and the UAE signed a Bilateral Investment Treaty (BIT) providing investor protection, dispute resolution via UNCITRAL arbitration, and a 10-year commitment period. The treaty, negotiated under the 2015 Indian Model BIT framework, replaces the previous 1997 agreement terminated in 2016. UAE is India's second-largest trading partner with bilateral trade of USD 85 billion annually.

The Vadhvan Greenfield Deep-Draft Port in Maharashtra formally commenced construction, with the first caisson block laid at the port site. Approved as a major port under the Major Port Authorities Act, 2021, Vadhvan will have a capacity of 23.2 million TEU upon completion by 2035, making it the largest port in South Asia. The port is developed under the PPP model by the Jawaharlal Nehru Port Authority.

The Ministry of Labour and Employment notified rules under the Code on Social Security, 2020 mandating platform aggregators to contribute 2% of their annual turnover to a Gig and Platform Workers' Welfare Fund. Covered workers will receive accident insurance, maternity benefits, and access to the e-Shram portal. An estimated 15 million gig workers become eligible for the first time.

INS Arighaat, India's second nuclear-powered ballistic missile submarine (SSBN), conducted a successful submerged launch of the K-15 Sagarika ballistic missile with a range of 750 km in the Bay of Bengal. The test was conducted under the Strategic Forces Command and validates India's sea-based nuclear deterrence under the No First Use policy.

The National Tiger Conservation Authority (NTCA) released the results of the All India Tiger Estimation 2026 (M-STrIPES methodology), recording 3,862 tigers — a 6.3% increase over 2022. Madhya Pradesh retained the top position with 785 tigers. The report was released on the occasion of Global Tiger Day. India hosts 70% of the world's wild tiger population.

The ISRO board approved the technical configuration of Chandrayaan-4, India's first lunar sample return mission, targeting a 2028 launch using LVM3. The mission will deploy a rover, collect 2 kg of regolith from the lunar south pole, and return the sample to Earth using an ascent vehicle and re-entry capsule. It is designed in collaboration with JAXA under the Artemis Accords framework.

The Export Promotion Council for Handicrafts (EPCH) reported that India's handicraft exports crossed USD 5 billion for the first time in 2025-26, growing 18% year-on-year. The United States remained the largest market (37% share), followed by the EU and UAE. The Geographical Indication (GI) tagging of crafts like Pashmina, Madhubani, and Kondapalli toys contributed significantly to premium pricing.

The Supreme Court of India issued comprehensive guidelines for the use of Artificial Intelligence tools in court proceedings, permitting AI-assisted legal research and case management while prohibiting sole reliance on AI for judicial reasoning or evidence evaluation. The guidelines align with the e-Courts Mission Mode Project Phase III and the SUPACE (Supreme Court Portal for Assistance in Courts Efficiency) platform.