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    Economic Stabilization Fund to help deal with unanticipated crisis: Sitharaman
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March 13, 2026
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Economic Stabilization Fund to provide fiscal headroom for unanticipated crises and preserve the year's fiscal deficit within revised estimates.
The government proposes an Economic Stabilization Fund established via inter-account transfers in the second batch of supplementary demands for grants to create fiscal headroom for unanticipated crises and supply-chain disruptions; the fund is to be financed by a mix of net cash outgo and savings, and the additional expenditure is stated not to alter the fiscal deficit relative to the Revised Estimates.
March 13, 2026
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Foreign exchange reserves decline as central bank reports weekly reductions across foreign currency assets, gold, SDRs and IMF position.
India's foreign exchange reserves declined by USD 11.683 billion to USD 716.810 billion for the week ended March 6. The change comprised a USD 9.880 billion fall in foreign currency assets to USD 563.245 billion, a USD 1.612 billion decrease in gold reserves to USD 130.017 billion, a USD 0.146 billion reduction in SDRs to USD 18.720 billion, and a USD 0.045 billion drop in the IMF reserve position to USD 4.828 billion; foreign currency assets are stated in dollar terms including valuation effects of non US currencies.
March 13, 2026
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March 13, 2026
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Monetary policy stance maintained; rates expected steady while inflation risk rises amid higher oil prices and trade shifts.
Fitch raised India's near-term GDP forecasts, attributing growth to domestic demand and investment, noted national accounts rebasing that smooths GDP estimates, and projected a short-term easing then recovery in investment linked to looser financial conditions. The report warns that higher global oil prices raise inflation risk while the Reserve Bank's neutral stance and expectation of unchanged policy rates are likely to persist. It also highlights that weaker domestic demand may boost net trade contribution and that external legal/regulatory changes, including a lower US effective tax rate and Section 122 tariffs, will affect external demand.
March 13, 2026
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Trade investigations drive continued India-US engagement on a bilateral trade pact amid parallel tariff measures and policy scrutiny.
India's commerce ministry has denied reports of a pause in bilateral talks with the United States, confirming continued engagement toward a mutually beneficial trade agreement. This diplomatic position arises as the US launches new Section 301 trade investigations into policies of several economies, including India, and implements broad tariff measures following a domestic court decision, creating the policy context for negotiations.
March 13, 2026
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Emergency fuel measures temporarily reintroduce kerosene and permit alternate fuels for hospitality to protect household cooking supplies.
India has introduced temporary emergency measures to manage an energy supply shock from disrupted Strait of Hormuz transit: additional kerosene allocations for households, temporary permission for hotels and restaurants to use biomass, RDF and coal, limited commercial LPG allocation, extended LPG refill intervals, expanded delivery authentication to curb hoarding, and a committee to assess genuine commercial demand, while sourcing cargoes from diverse suppliers and increasing domestic LPG output.
March 13, 2026
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Supplementary demands approval permits additional government expenditure while keeping the fiscal deficit within revised estimates.
Passage of the second batch of supplementary demands for grants authorises additional net cash expenditure for the current fiscal year by increasing gross authorised outlays while offsetting part of that increase through estimated additional receipts, yielding a stated net additional cash requirement. The government states the additional authorised spending will be managed within the fiscal deficit projected in the Revised Estimates and does not raise total expenditure above the original Budget Estimates.
March 13, 2026
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Economic Stabilisation Fund created to provide fiscal headroom and buffer for global shocks; supplementary spending approved.
An Economic Stabilisation Fund of one lakh crore is proposed as a contingency buffer to provide fiscal headroom and absorb unforeseen global shocks; its allocation is included in the second batch of supplementary demands for grants alongside additional spending on fertiliser subsidies, PMGKAY, defence and other heads. The Finance Minister affirmed that the fiscal deficit for 2025-26 will remain within the Revised Estimates and that the supplementary does not increase total expenditure beyond the Budget Estimates.
March 13, 2026
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Tariffs under trade statutes shift import costs to consumers, increasing household burdens and prompting broad trade investigations.
The administration is replacing invalidated emergency tariffs by pivoting to alternative statutory authorities to sustain tariff revenue, using short-duration emergency levies, broader trade-investigation powers to target unfair or excessive foreign production, and national-security based tariffs after Commerce inquiries. Procedural limits and legal challenges constrain some measures, while analysts and Democratic reports conclude tariff costs will be passed to consumers-through importer pass-through and higher domestic prices-so households will bear the economic burden.
March 13, 2026
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Energy strategy emphasizes infrastructure expansion and self reliance to mitigate war driven supply shocks and strengthen strategic reserves.
India's energy policy adopts a two pronged strategy of expanding domestic energy infrastructure and strengthening self reliance to reduce import dependence. Key operative elements include enlargement of strategic petroleum reserves, expansion of LNG terminals and pipeline networks, increased LPG, PNG and CNG penetration, rapid growth in renewable capacity and railway electrification, and demand substitution measures such as ethanol blending and bio gas. Concurrently, authorities are urged to monitor markets and take strict action against black marketing and misinformation to preserve supply chain integrity.
March 13, 2026
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Illicit manufacture of psychotropic drugs exposed, large-scale seizure and arrests disrupt organised production and supply networks.
Operation White Hammer uncovered an organised clandestine industrial facility manufacturing Alprazolam, a psychotropic substance under the NDPS Act, 1985, disguised as a chemical unit. Searches recovered a large commercial quantity of finished Alprazolam, extensive precursor chemicals and industrial-scale processing equipment, evidencing systematic production and distribution capabilities and supporting investigation of offences including manufacture and possession for supply.
March 13, 2026
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Regulatory engagement with NBFCs to coordinate interagency solutions and strengthen KYC and sector reforms.
Department of Financial Services convened NBFCs with RBI, Department of Revenue and UIDAI to discuss operational issues and pursue stakeholder consultation for practical solutions. The Secretary urged NBFCs to enhance financial robustness and serve underserved customers, proposed a workshop with UIDAI and NPCI on effective KYC, and requested SROs to design a reform framework to strengthen the sector and coordinate interagency responses.
March 12, 2026
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Tourist tax imposed on hotel stays linked to GST status, applying distinct rates for domestic and foreign travellers.
The Jharkhand City Tourist Tax Rules, 2025 impose a tourist levy on travellers staying in urban hotels, calculated on the total invoice value, with differentiated rate bands tied to a hotel's GST status and separate rates for domestic and foreign tourists, establishing a GST-linked municipal tax on hotel stays within urban areas.
March 12, 2026
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Budgetary transparency concerns allege fiscal mismanagement and contested tax attribution, challenging infrastructure and employment claims.
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March 12, 2026
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Director disqualification for persistent non filing bars reappointment and requires state action and regulatory penalties.
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March 12, 2026
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Asset attachment under PMLA triggers provisional seizure of properties linked to alleged diversion of public funds.
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March 12, 2026
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Rural credit mobilisation expands refinance and direct lending to strengthen women-led enterprises and farmer producer organisations.
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March 12, 2026
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Inflation target band preserved as CPI edges higher due to food-led pressures, keeping rate policy pause plausible.
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March 12, 2026
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Religious conversion allegations dismissed as the couple present identity documents and registered marriage to affirm consent and age.
Allegations that the marriage constituted love-jihad and involved religious conversion were denied by the parties, who stated both remained in their respective faiths and that the wedding was solemnised according to Hindu customs. The couple produced identity documents and a marriage certificate to support the assertion that the bride was an adult and that the marriage was registered, emphasising consent and denying reports of underage marriage.
March 12, 2026
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Sanctions debate intensifies as advocacy groups cite increased fossil fuel export revenues influencing calls for tougher measures.
Analysis showing Russia earned nearly USD 7 billion from fossil fuel exports during the Iran war and that daily export revenues averaged materially higher prompted a German nonprofit and research groups to urge tougher sanctions on those exports while another government considers easing restrictions.

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Suresh Gopi denies controversy over exclusion of Kerala PWD Minister from PM event in Kochi

March 12, 2026

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Thrissur (Kerala), Mar 12 (PTI) Union Minister Suresh Gopi on Thursday said people who can be on the dais at the Prime Minister's event are selected in accordance with the Blue Book protocol.

He was responding to reporters about the state government, including Chief Minister Pinarayi Vijayan, not attending Prime Minister Narendra Modi's event in Kochi on Wednesday after PWD Minister P A Muhammad Riyas was not invited.

Modi had inaugurated several projects, including the renovated stretches of National Highway-66 in Kerala, during the event in Kochi.

The union minister said the central government had informed the state government that arrangements for the dais would be made in accordance with the Blue Book protocol during the Prime Minister’s programme.

"If the state government had responded saying that they want a concerned minister to be included, the arrangements would have been made accordingly," he said.

He said the Special Protection Group (SPG) has a protocol regarding the number of persons allowed on the dais and that should be followed.

"I won’t say it is an unnecessary controversy as their politics requires it. They can only move ahead like that," he said.

He also said he has no objection if the state government organises another inaugural event for the NH before the Prime Minister’s programme.

"Then how many parallel inaugurations would I have done, considering the number of projects implemented? There is also politics in not giving permission to projects for which MP funds were given," he said.

Responding to Kerala Minister M B Rajesh’s allegation that the SPG sought his Aadhaar card when he arrived to attend the Prime Minister’s event in Thiruvananthapuram earlier this year, Gopi said there was nothing unusual about it.

He said he himself was frisked at four places during Prime Minister Narendra Modi’s programme in Kochi.

"People accompanying me told the SPG that I am a Minister of State. But they insisted on checking," he said.

He said he was aware of SPG procedures and had carried his Aadhaar card, passport and driving licence when he attended the Prime Minister’s event in Kochi.

"It is not for them to win and us to lose," he said.

He also said, that in a similar fashion, Union Home Minister Amit Shah had once been stopped and asked to show his Aadhaar card at an event.

"They even frisked my back and said there was some metal. Then I lifted my dress and showed them the belt, which had a metal buckle," he said.

Gopi said work on the entire National Highway stretches in Kerala has not been completed yet.

He said he had requested that the NH stretches where work was completed be opened.

When asked about CPI(M) leader G Sudhakaran reportedly deciding to contest as an independent candidate, Gopi said Sudhakaran appeared emotionally sad.

He said he had not spoken to Sudhakaran about joining the BJP.

"I spoke to him only to offer moral support. We have not spoken a word of politics during the conversation," he said.

Gopi said that during a conversation about 1.5 years ago, after Sudhakaran had issues with his party leadership, he had advised him not to create a deadlock for his party.

"No one has the right to question a person for showing his personality," he said.

Gopi said he could not comment on whether the party’s stand against Sudhakaran was fair, as he did not belong to the CPI(M).

"People of Kerala know his heart. It is his decision," he said.

Asked whether the BJP would support Sudhakaran if he contested as an independent, Gopi said the decision would have to be taken by the party.

When asked whether the BJP had held talks with CPI MLA C C Mukundan, who was expelled from his party, he said it was natural for discussions to take place when a leader decided to leave a party. However, he added that it is up to the individual to decide which party he would join. PTI TBA KH

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