24 March 2026

India's External Commercial Borrowings (ECB) registered an inflow of $38 billion during April–February 2025-26, a 22% rise over the corresponding period of the previous year, according to RBI data. Infrastructure companies (roads, renewables) accounted for 42% of ECBs. Under RBI's ECB Policy, borrowers must comply with all-in cost ceilings linked to benchmark rates. ECBs are covered under Section 6 of FEMA 1999.

The Rajya Sabha passed the Constitution (129th Amendment) Bill 2024 by a two-thirds majority, paving the way for "One Nation One Election". The Bill amends Articles 83, 85, 172, and 174 to synchronise Lok Sabha and state assembly elections. The amendment requires ratification by at least 50% of state legislatures. A High-Level Committee under former President Ram Nath Kovind had submitted its report in March 2024 recommending phased implementation from 2029.

INS Varsha, India's first dedicated nuclear submarine base located at Rambilli near Visakhapatnam, Andhra Pradesh, was declared fully operational. The base can berth and refit the Arihant-class nuclear ballistic missile submarines (SSBNs) and future Attack-class nuclear submarines. INS Arihant, commissioned in 2016, carries K-15 (Sagarika) and K-4 submarine-launched ballistic missiles as part of India's nuclear triad.

The World Health Organisation (WHO) granted prequalification to HILLCHOL, India's first indigenously developed oral cholera vaccine produced by Haffkine Bio-Pharmaceutical Corporation, Mumbai. Prequalification enables the vaccine's procurement by UN agencies including UNICEF for global immunisation programmes. India manufactures over 60% of the world's vaccines by volume; HILLCHOL was developed under BIRAC's Mission COVID Suraksha framework.

India was elected to the United Nations Human Rights Council (UNHRC) for the 2027-29 term with 166 votes in the UN General Assembly, the highest vote tally in the Asia-Pacific region. The UNHRC, established in 2006 replacing the OECD Commission on Human Rights, comprises 47 member states elected by UNGA on a regional basis for three-year terms. India committed to advancing rights of women, children, and persons with disabilities during its tenure.

The Ministry of Environment, Forest and Climate Change launched India's first Urban Wetland Conservation Mission covering 10 major cities — Mumbai, Chennai, Kolkata, Hyderabad, Bengaluru, Bhopal, Ahmedabad, Lucknow, Chandigarh, and Guwahati. The mission will demarcate, restore, and protect urban wetlands that regulate urban flooding and support migratory birds. Urban wetlands fall under Article 3 of the Ramsar Convention.

The National Apprenticeship Promotion Scheme (NAPS), launched in 2016 under the Ministry of Skill Development and Entrepreneurship, crossed the milestone of enrolling 1 crore apprentices. The scheme provides 25% stipend reimbursement (up to ₹1,500/month) to employers. The Apprentices Act 1961 mandates engagement of apprentices in designated trades; the 2020 amendment broadened optional trades and removed penalties for non-compliance by MSMEs.

The India Meteorological Department (IMD) issued its first long-range forecast for the Southwest Monsoon 2026, predicting 105% of the Long Period Average (LPA) of 87 cm, categorised as "above normal". Favourable La Nina conditions in the Pacific and positive Indian Ocean Dipole are key predictors. The Southwest Monsoon, vital for 52% of India's net sown area under rainfed agriculture, normally arrives in Kerala by June 1. IMD operates under the Ministry of Earth Sciences.

The Ministry of Culture launched a 5-year Mission for the Preservation and Promotion of India's Classical Languages covering Sanskrit, Tamil, Telugu, Kannada, Malayalam, Odia, and Pali — the seven languages accorded Classical Language status by the Government of India between 2004 and 2024. The mission includes digital corpus creation, AI-based OCR for manuscripts, and fellowship programmes for doctoral research.

The Appointments Committee of the Cabinet approved the appointment of Shri Ajay Seth, IAS (KN:1987), as Secretary, Department of Economic Affairs (DEA), Ministry of Finance. DEA is the nodal department for formulating and monitoring economic policy, the Union Budget, capital markets regulation interface, and external economic assistance. The DEA also administers the Infrastructure Finance Secretariat and chairs the Economic Survey preparation.