Daily Current Affairs 29 March 2026 — UPSC, SSC, Banking, Railway

The Four Projects in Detail

1. Bengaluru Metro Rail Project Phase 3 — JPY 102.480 billion (largest allocation): The single biggest slice of the package goes towards expanding Bengaluru’s Namma Metro network under Phase 3. The city’s mass rapid transit system, which started as a short line in 2011, has grown substantially through Phases 1 and 2. Phase 3 aims to extend the network further, easing chronic traffic congestion in one of Asia’s fastest-growing tech hub cities. The investment directly connects to goals of reducing vehicular pollution, lowering commute times, and promoting shift from private vehicles to public transport — contributing to India’s climate commitments.

2. Mumbai Metro Line 11 Project — JPY 92.400 billion: The second-largest allocation funds the Mumbai Metro Line 11 project, expanding the financial capital’s urban rail network. Mumbai’s metro expansion is a foundational pillar of the city’s effort to decongest its famously overburdened suburban rail system and road network. Line 11 will improve connectivity between key corridors, supporting economic activity in one of the world’s largest urban agglomerations.

3. Strengthening Tertiary Healthcare in Maharashtra — JPY 62.294 billion: This allocation addresses Maharashtra’s tertiary healthcare capacity — specifically the construction and upgradation of hospitals, medical colleges, and nursing institutions. The project targets the structural gap between demand for advanced medical care and the available infrastructure, while simultaneously strengthening medical education and nursing training systems. It aligns with India’s Universal Health Coverage (UHC) aspirations under Ayushman Bharat.

4. Promoting Sustainable Horticulture in Punjab — JPY 18.684 billion: The smallest but strategically important allocation focuses on agricultural diversification in Punjab — a state traditionally dependent on wheat and paddy cultivation. The project encourages farmers to transition towards high-value horticulture crops, supports value chain development, and builds stronger market linkages. This directly aligns with India’s goal of doubling farmers’ incomes and reducing the environmental burden of water-intensive paddy cultivation in a groundwater-stressed region.

Why Was the Forecast Trimmed?

The 10 basis point downward revision reflects a combination of external and domestic factors. The primary driver is the escalating Middle East conflict — specifically the disruption to energy flows through the Strait of Hormuz, which carries a substantial share of global crude oil and LNG shipments. This has generated a sharp surge in global energy prices, raising India’s import bill and feeding into domestic inflation pressures. The OECD’s report notes these energy shocks are also disrupting the global supply of key commodities including fertilisers, with cascading effects on food prices.

Domestically, the OECD flags a gradual withdrawal of fiscal stimulus as the government pursues fiscal consolidation — reducing its central budget deficit from 4.9% of GDP in FY25 to 4.5% in FY26, with a further targeted reduction ahead. While prudent, this consolidation naturally moderates the direct demand boost from government spending. Additionally, gas rationing in industrial zones is expected to disrupt some production activities in specific sectors.

The Inflation Warning and RBI Rate Implications

The most concerning element of the OECD report for monetary policy watchers is its inflation forecast for FY27: 5.1% — a dramatic jump from an estimated 2.0% in FY26. This surge is attributed to two compounding forces: the fading of the beneficial price effects from good monsoon seasons and previous food-price corrections, combined with sharply rising global energy and fertiliser costs flowing through to domestic prices. To manage this, the OECD projects that the Reserve Bank of India (RBI) may temporarily raise its policy repo rate during Q2 2026 (April–June 2026). This would mark a reversal from the easing cycle and has significant implications for credit markets, home loans, and corporate investment planning.

What is ASRAAM and Why Does It Matter?

ASRAAM — Advanced Short Range Air-to-Air Missile — is a fourth-generation, within-visual-range (WVR), infrared-guided air-to-air missile developed by European defence manufacturer MBDA. It first entered service with the Royal Air Force (RAF) of the United Kingdom in 1998. Key technical specifications include a length of 2.9 metres, weight of 88 kilograms, a high-explosive blast-fragmentation warhead, and a speed exceeding Mach 3. Its engagement range of over 25 kilometres is more than double that of the Soviet-era R-73 missile (10–15 km) it will replace. ASRAAM uses a fire-and-forget principle — once launched, it guides itself autonomously to the target using an advanced imaging infrared (IIR) seeker, freeing the pilot to immediately take evasive action.

The missile supports high off-boresight (HOBS) engagements — when linked to a Helmet-Mounted Display (HMD), a MiG-29 pilot needs only to look at an enemy aircraft to cue and fire the missile, even at extreme angles relative to the aircraft’s nose direction. It can sustain up to 50G of maneuverability through body-lift aerodynamics and tail-control fins — critical in close-range dogfights.

The Strategic Context: China’s PL-10 and Pakistan’s PL-10E

The urgency behind this upgrade is driven by what India’s adversaries have already deployed. China’s PL-10 missile — operational since 2015 on platforms including the J-10C, J-16, and stealth J-20 — travels at Mach 4 and has an engagement range of 20–30 km. Pakistan’s JF-17 Block III aircraft, operated since 2021, carry the export variant PL-10E. Against these systems, the IAF’s ageing Soviet R-73 missiles (1980s design, 10–15 km range) on its MiG-29 fleet represent a capability gap. ASRAAM’s larger rocket motor (166mm diameter vs PL-10’s ~160mm) provides superior sustained velocity and engagement range — compensating for its marginally lower peak speed. With ASRAAM already operational on LCA Tejas and Jaguar aircraft, the MiG-29 integration extends IAF’s ASRAAM standardisation across its full frontline fleet.

Origins and Scale of Earth Hour

Earth Hour was launched in Sydney, Australia in 2007 as a symbolic one-city initiative by the World Wide Fund for Nature (WWF). Within two years it had grown into a global movement. Today, Earth Hour is observed in over 190 countries and territories, involving hundreds of millions of people, governments, corporations, and civil society organisations. Landmark monuments, government buildings, and corporate headquarters around the world — from the Eiffel Tower in Paris to the Gateway of India in Mumbai — participate by turning off non-essential lights.

In India, WWF India, in collaboration with the Ministry of Environment, Forest and Climate Change (MoEFCC), organised awareness and outreach activities in Gwalior, Madhya Pradesh to mark the 20th anniversary. This year’s campaign theme, “Give an Hour for Earth”, extends the movement’s call to action beyond the symbolic one-hour lights-off to encourage citizens to dedicate time each day to environmental advocacy and sustainable behaviour.

About Periasamy Kumaran

Periasamy Kumaran is a 1992-batch Indian Foreign Service (IFS) officer with extensive experience in India’s eastern neighbourhood and broader Asian diplomacy. As Secretary (East), he has overseen India’s bilateral relations with countries in the extended eastern neighbourhood. His appointment to the UK comes at a time when India-UK ties are advancing along multiple fronts, including the ongoing India-UK Free Trade Agreement (FTA) negotiations, defence cooperation, education partnerships, and the large Indian diaspora in Britain.

BHASHINI–PFRDA MoU: Pension Services in Your Mother Tongue

The Digital India BHASHINI Division (DIBD), operating under the Ministry of Electronics and Information Technology (MeitY), signed a landmark Memorandum of Understanding with the Pension Fund Regulatory and Development Authority (PFRDA) under the initiative “BHASHINI for Seva / Sanchalan — A BHASHINI Sahayogi Program.”

The collaboration aims to integrate BHASHINI — India’s National Language Digital Public Infrastructure — with PFRDA’s pension management platforms. In practical terms, this will enable citizens subscribing to NPS (National Pension System) and APY (Atal Pension Yojana) to access pension-related information, registration, grievance redressal, and service interactions in their regional languages, breaking the language barrier that often excludes non-English-speaking rural and semi-urban populations from the formal pension ecosystem. BHASHINI supports all 22 scheduled languages of the Indian Constitution.

IVFRT Scheme Extended for 2026–2031: Smarter Immigration for a Globalising India

The Union Cabinet approved the continuation of the Immigration, Visa, Foreigners Registration and Tracking (IVFRT) Scheme for a further five years, from 2026 to 2031. IVFRT provides a centralised, technology-driven platform for all visa issuance, immigration processing at ports of entry, and foreigner registration and tracking activities across India. The renewed phase places particular emphasis on digital modernisation — including mobile-compatible services and self-service kiosks at major airports and border checkpoints — to make immigration faster, more transparent, and more secure. The scheme is critical for managing India’s growing inbound tourism, business travel, and international student mobility.

Structure and Eligibility

The Rashtriya Vigyan Puraskar replaces the earlier fragmented set of science awards with a single, consolidated national framework under the Department of Science and Technology (DST). The award covers three tiers: the Vigyan Ratna (highest, for lifetime contributions), the Vigyan Shri (for distinguished contributions), and the Vigyan Yuva–Shanti Swarup Bhatnagar (for young scientists under 45). Eligibility extends to scientists and technologists working in both government and private sector organisations, as well as individuals of Indian Origin residing abroad whose work has directly benefited Indian communities or society. This diaspora inclusion clause recognises the significant contribution of India-origin researchers at top global institutions.