U.S. President Donald Trump warned Iran against attacking Qatar's energy facilities and stated that Israel would not target Iran's South Pars gas field again. This followed missile attacks by Iran on energy facilities in Qatar, Saudi Arabia, UAE, and Israel, which were in retaliation for Israeli air strikes on South Pars. Trump emphasized that the U.S. was unaware of the initial Israeli strike and would massively retaliate if Iran attacked Qatar. The attacks caused extensive damage to Qatar's Ras Laffan Industrial City, a critical global LNG hub, and led to diplomatic expulsions.
U.S. President Trump distanced the U.S. from Israeli strikes on Iran's South Pars gas field and warned Iran against further attacks on Qatar's energy facilities.
Iran retaliated with missile attacks on energy facilities in Qatar, Saudi Arabia, UAE, and Israel after Israeli strikes on its South Pars gas field.
Qatar's Ras Laffan Industrial City, a major global LNG export hub, sustained extensive damage from Iranian missiles.
Exam Points
Iran's South Pars gas field is one of the largest known gas fields in the world.
Qatar's Ras Laffan Industrial City handles roughly 20% of global LNG exports.
The UAE's Foreign Ministry declared Iranian military and security attachés 'persona non grata' and asked them to leave within 24 hours.
Indian stock markets experienced a significant meltdown, with the BSE Sensex dropping 3.26% and Nifty falling over 3%. This was primarily triggered by a sharp spike in Brent crude oil prices to $114 a barrel and the U.S. Federal Reserve signaling higher inflation. The market decline was exacerbated by geopolitical tensions in West Asia, specifically Israel's attack on Iran's gas field and Iran's retaliation on major Gulf energy sites, which further fueled crude price increases. The Federal Reserve's hawkish stance, linking easing to moderating inflation, also contributed to foreign funds exiting the Indian market, intensifying volatility.
Indian stock markets witnessed a major crash, with benchmark indices falling over 3%, marking the worst day since June 2024.
The primary causes were a surge in Brent crude oil prices to $114 a barrel and the U.S. Federal Reserve's hawkish stance on inflation.
Geopolitical tensions in West Asia, including attacks on energy facilities in Iran and the Gulf region, contributed significantly to the oil price spike.
Exam Points
BSE Sensex registered a 3.26% drop.
Brent crude futures price hit a new high of $114 a barrel.
The rupee depreciated to a new low of ₹92.89 a dollar.
The Ministry of Statistics and Programme Implementation has released a new GDP series with 2022-23 as the base year, updating the previous 2011-12 series. This aims to provide a more accurate and realistic picture of the Indian economy. The new estimates show the overall GDP at current prices to be marginally lower (3-4%) than previous estimates. Significant refinements include improved methodology for multi-activity enterprises, comprehensive coverage of LLPs, and direct derivation of private final consumption expenditure using Household Consumption Expenditure Survey (HCES 2022-23) data. Challenges remain in allocating GVA across states and resolving volatility in annual estimates.
India has released a new GDP series with the base year updated to 2022-23, replacing the 2011-12 series.
The new series provides a more accurate and realistic representation of the Indian economy, with GDP estimates at current prices marginally lower than previous series.
Key methodological refinements include improved GVA allocation for multi-activity enterprises, comprehensive LLP coverage, and direct use of HCES 2022-23 data for private final consumption expenditure.
Exam Points
New GDP series base year: 2022-23.
Previous GDP series base year: 2011-12.
Overall GDP at current prices for FY 2022-23: ₹261.18 lakh crore.
ISRO's NavIC constellation is in operational distress, with only three satellites capable of providing PNT services, failing to fulfill its purpose of replacing the U.S.'s GPS system over India. This degradation is faster than replenishment due to poor launch rates, budget constraints, and issues with PSLV. The first-generation satellites used faulty Swiss-made rubidium atomic clocks, and even the indigenous clocks in NVS-02 faced issues. India lacks a dedicated directorate for managing its PNT system, unlike GPS or Galileo. ISRO's plan to launch three more second-generation satellites in 2026 lacks confidence given the current challenges.
ISRO's NavIC constellation is in operational distress, with only three satellites currently providing Position, Navigation, and Timing (PNT) services.
The constellation's degradation is attributed to poor launch rates, insufficient budget, and issues with the PSLV rocket.
First-generation NavIC satellites suffered from failures of Swiss-made rubidium atomic clocks, and even indigenous clocks in NVS-02 faced problems.
Exam Points
NavIC constellation launched 11 satellites since 2013.
A PNT constellation requires at least four PNT-capable satellites.
IRNSS-1F satellite's atomic clock failed on March 13, 2026.
India's Income Tax Department's Project Insight (PI) leverages AI and data analytics to enhance tax administration and revenue mobilization. Launched in 2017, PI aims to boost voluntary compliance, reduce evasion, and ensure fair enforcement. It has shown results, with over one crore revised returns filed and significant additional taxes collected. However, the transition to algorithmic tax governance raises concerns about data provenance and quality, algorithmic bias, explainability and due process, and data privacy and security. India also lacks an AI ombudsperson, which is crucial for reviewing contested decisions and ensuring accountability in an ethical AI system.
India's Project Insight (PI) uses AI and data analytics to improve tax revenue mobilization and governance, aiming for voluntary compliance and fair enforcement.
PI has demonstrated success, leading to millions of revised tax returns and significant additional tax collections since 2020-21.
The initiative helps detect inconsistencies, prioritizes evasion cases, automates tasks, and enhances taxpayer services through tools like smart chatbots.
Exam Points
India's tax-GDP ratio (16.36% during 2001-22) is among the lowest in emerging economies.
India loses around 4.3% of tax revenues annually due to tax evasion.
Project Insight (PI) was launched in 2017 and became fully operational in 2019.
At least 24 States and Union Territories have earmarked funds for the new Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, 2025, a rural employment programme. This comes despite the Centre not yet notifying the formula for State-wise normative allocations, which is mandated by Section 4(5) of the Act. States are using their past expenditure under MGNREGA as a baseline, accounting for the additional 25 workdays promised under the new Act (100 to 125 days). States must bear 40% of the scheme's expenditure, with relaxations for northeastern and hilly regions. The Union Budget for 2026-27 has allocated ₹95,652 crore as the Centre's share.
Many States and UTs have allocated funds for the new Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, 2025.
The Centre is yet to notify the formula for State-wise normative allocations, which is a key pending element mandated by the Act.
States are currently using past MGNREGA expenditure as a baseline and accounting for an extended 125 days of guaranteed employment.
Exam Points
New scheme: Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, 2025.
Section 4(5) of the Act mandates the Union government to determine State-wise allocations annually based on 'objective parameters'.
States must bear 40% of the scheme's expenditure (except NE and hilly states/UTs).
A parliamentary committee has warned that the objectives of the Jal Jeevan Mission (JJM) to provide consistent potable water to all rural households will remain unfulfilled due to a lack of sustainable water sources. Despite tap connections being installed, many sources are depleting within a year or two. The committee recommended implementing 'source to tap' schemes to account for the entire water supply chain. The Union Cabinet recently extended the JJM programme to 2028 and allocated additional funds, shifting its focus from infrastructure creation to service delivery and sustainable rural piped potable water supply, instituting a national digital framework called 'Sujalam Bharat'.
The Jal Jeevan Mission (JJM) faces a significant challenge from the lack of sustainable water sources, threatening its goal of universal potable water supply.
A parliamentary committee noted that many installed tap connections are becoming defunct due to rapidly depleting water sources.
The committee recommended implementing 'source to tap' schemes to ensure the entire water supply chain, from source to delivery, is accounted for.
Exam Points
Jal Jeevan Mission (JJM) flagship programme of Jal Shakti Ministry.
Initial outlay: ₹8.69-lakh-crore.
Originally envisioned 100% coverage by 2024, stuck at 81% since 2025.
Sujata Sharma, Joint-Secretary at the Ministry of Petroleum and Natural Gas, stated that attacks on Qatar's LNG facilities could impact India, as 47% of India's LNG imports come from Qatar. However, India has diversified its energy sources to mitigate potential disruptions. This statement followed missile attacks by Iran on Qatar's Ras Laffan Industrial City, causing extensive damage. While Qatar is a major supplier, India also imports LNG from other countries like Australia and the United States. India's natural gas consumption is 195 MMSCMD, with half domestically produced and the rest imported, partly via the Strait of Hormuz.
Attacks on Qatar's LNG facilities pose a potential threat to India's energy security due to significant import reliance.
India imports 47% of its LNG from Qatar, making disruptions in the Middle East impactful.
To mitigate risks, India has diversified its LNG import sources, including Australia and the United States.
Exam Points
47% of India's LNG imports are from Qatar.
Qatar's Ras Laffan Industrial City is its largest LNG facility.
India's natural gas consumption: 195 million metric standard cubic meters per day (MMSCMD).
The closure of the Strait of Hormuz, a vital global energy artery, due to military action against Iran, has triggered oil price increases and market turmoil. West Asian producers and Asian consumers are tightly linked through these trade flows. The U.S. has increased domestic production and intervened strategically, while Russia has emerged as a key supplier amid West Asian disruptions. India, a major crude importer, has benefited from discounted Russian oil, boosting its refining and exports. However, rising global oil prices and prolonged tensions in West Asia introduce uncertainty, potentially reshaping the global energy order and India's energy strategy.
The Strait of Hormuz is a critical global energy artery, and its closure due to geopolitical tensions significantly disrupts oil flows and increases prices.
West Asian countries are major oil and natural gas producers, while East and South Asian nations like China and India are large consumers, creating tight trade linkages.
The U.S. has increased domestic shale oil production and used strategic interventions to influence oil geopolitics.
Exam Points
Strait of Hormuz is a narrow gateway, just 33 km at some points.
Nearly a fifth of the world's traded oil passes through the Strait of Hormuz.
Oil and natural gas account for over half of global energy supply.
The article highlights the historical significance of the Mahad Satyagraha, led by B.R. Ambedkar on March 20, 1927, where thousands of untouchables drank water from a public tank, asserting their right to equality. This act, predating the Salt Satyagraha, challenged internal societal sickness and demanded freedom from fellow Indians. The subsequent decade-long legal battle, which Ambedkar won in 1937, underscored the deep-rooted resistance to untouchability. The author argues that the Mahad Satyagraha's principles are enshrined in the Indian Constitution (Articles 15 and 17) and calls for its centenary in 2027 to be a year of honest reckoning on whether true equality and dignity have been achieved for all, especially the marginalized.
The Mahad Satyagraha, led by B.R. Ambedkar on March 20, 1927, was a pivotal moment in India's fight against untouchability, asserting the right of depressed classes to access public resources.
Unlike the Salt Satyagraha which challenged external British rule, Mahad Satyagraha confronted internal societal discrimination and demanded equality from fellow Indians.
The decade-long legal battle following the Satyagraha, culminating in Ambedkar's victory in 1937, revealed the profound resistance to social reform.
Exam Points
Mahad Satyagraha led by B.R. Ambedkar on March 20, 1927.
Manusmriti was publicly burned on December 25, 1927, during the second Mahad conference.
Bombay High Court confirmed the right to use public tanks in Narhari Damodar Vaidya v. Bhimrao Ramji Ambedkar on March 17, 1937.
Read more
Read it. Retain it. Recall it.
Get spaced-repetition flashcards, daily quizzes and offline access — free on Android.