4 April 2026

Defence exports surged 62.66% year-on-year to Rs 38,424 crore in FY 2025-26, with Defence Public Sector Undertakings contributing 54.84% and the private sector 45.16%. The growth reflects the success of the Aatmanirbhar Bharat initiative in the defence manufacturing sector.

The Jan Vishwas Bill 2026 decriminalises over 1,000 provisions across approximately 80 Central Acts, replacing imprisonment with fines for minor offences. It introduces automatic 10% revision of fines every three years, representing a major shift toward trust-based governance and ease of doing business.

The new Income-tax Act, 2025 replacing the 1961 Act became operational on April 1, 2026. The Income-tax Rules, 2026 were notified by CBDT on March 20. The PRARAMBH 2026 nationwide awareness campaign was launched to help taxpayers transition to the new framework.

INS Agray, the fourth Anti-Submarine Warfare Shallow Water Craft built by Garden Reach Shipbuilders and Engineers, was inducted into the Indian Navy. Equipped with torpedoes, rocket launchers and SONAR, it has over 80% indigenous content and enhances coastal surveillance and underwater threat detection capabilities.

The government announced temporary waiver of basic customs duty on selected petrochemical feedstocks and intermediates, with full exemption on around 40 products until June 30, 2026. The move aims to ensure availability of critical inputs and reduce costs for downstream industries, with an estimated revenue impact of Rs 1,800 crore.

Census 2027 will be India's first fully digital census, with enumerators collecting data through mobile applications using the Bring Your Own Device (BYOD) model. House listing and Housing Census operations will begin in Karnataka from April 16 to May 15, 2026, before expanding nationwide.

India signed a record 219 Advance Pricing Agreements (APAs) in FY 2025-26, surpassing the previous high. APAs provide certainty on transfer pricing for multinational enterprises and reduce tax litigation. The milestone reflects India's improving ease of doing business in international taxation.

Senior IAS officer Vir Vikram Yadav has been appointed as the Director General of Civil Aviation (DGCA), India's aviation safety regulator. The appointment comes amid rising domestic air traffic and expansion of regional connectivity under the UDAN scheme.

The Election Commission of India transferred top-tier officials including the Chief Secretary and DGP of West Bengal following the announcement of state Assembly elections. The move triggered debate on the ECI's constitutional power under Article 324 to ensure free and fair elections versus state autonomy.

The government extended the National Piped Natural Gas Drive 2.0 until June 30, 2026 to expand piped natural gas access to more households and regions. The scheme supports India's transition to cleaner energy sources and aims to increase the share of natural gas in the energy mix from 6% to 15%.