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UPSC current affairs · Tuesday

Current Affairs, 31 March 2026

7 issues picked from 43 PIB releases · about 2 minutes each · written by UPSC Grade, each fact checked against its PIB release or by a second model

How to readRead “Why in news” and “What it is” for every issue. Open For Prelims or For Mains for the exam you’re preparing for, then Test yourself at the foot of each card. Half the news questions in Prelims are answered from background, not the news itself.

In 60 seconds

  1. Pradhan Mantri Awas Yojana-Gramin. PMAY-G has completed 2.99 crore rural houses; target is 4.95 crore by 2029.
  2. WTO 14th Ministerial Conference (MC14). MC14 in Yaoundé ended with fisheries talks extended, e-commerce moratorium unresolved, and India blocking IFD incorporation.
  3. Nagoya Protocol on Access and Benefit-sharing. India issues over 56% of all Nagoya Protocol compliance certificates worldwide, far ahead of France.
  4. Jal Jeevan Mission and Jal Arpan. Five States get JJM 2.0 funds after meeting MoU and validation conditions; first compliance-linked release.
  5. eGramSwaraj and SabhaSaar. eGramSwaraj payments cross ₹3 lakh crore; SabhaSaar AI meeting tool now covers 23 languages.
  6. CBIC Courier and E-commerce Export Reforms. CBIC removes the ₹10 lakh courier export cap and adds a Return to Origin facility from 1 April 2026.
  7. Advance Pricing Agreements (APA). CBDT signed a record 219 APAs in FY 2025-26; total now 1,034.
1

Scheme

Pradhan Mantri Awas Yojana-Gramin

GS2 Welfare schemesGS3 InfrastructurePrelims and Mains

Why in news
On 31 March 2026, PIB published a progress note on PMAY-G. As of 26 March 2026, 2.99 crore of 3.90 crore sanctioned houses were complete, against a cumulative target of 4.95 crore by 2029.
What it is
Pradhan Mantri Awas Yojana-Gramin (PMAY-G) is a Centrally sponsored scheme of the Ministry of Rural Development. It gives financial help to eligible rural households without a pucca house to build one. It replaced the earlier Indira Awaas Yojana in 2016, and a second phase (2.0) is now under way.
Handover
First instalment of 3 lakh houses worth ₹3,600 crore was handed over to Andhra Pradesh under PMAY-G 2.0 at Burripalem village, Guntur district.
3D printing pilot
The country's first pilot housing project using 3D concrete printing has 177 houses and costs ₹14 crore.
Allocation raised
Andhra Pradesh was first deemed eligible for 76,000 houses; the Centre raised this to 3 lakh after the Chief Minister's request.
Construction time
The 3D-printed houses are expected to be completed within six months.
Implementing ministry
PMAY-G is run by the Ministry of Rural Development as a Centrally sponsored scheme, with costs shared between Centre and states.
Predecessor
PMAY-G replaced Indira Awaas Yojana from April 2016.
Target and progress
The target is 4.95 crore houses. Approvals for 3.91 crore have been given and over 3.05 crore are complete.
Women's ownership
Nearly 75 per cent of sanctioned houses are in the name of women or in joint ownership.
Convergence
Houses are linked with amenities such as roads, electricity, drinking water, LPG connections and toilets through convergence with other schemes.
Start date
The scheme has been implemented since 1 April 2016.
Minimum house size
Houses must be at least 25 sq. m., with a dedicated area for hygienic cooking.
Inspections and audits
Block officers inspect about 10% of houses and district officers 2% at each stage. Each Gram Panchayat holds a social audit at least once a year.
Toilet support through convergence
Beneficiaries get Rs 12,000 for a toilet from SBM(G), the employment scheme or another dedicated source.
IT platform
AwaasSoft is the web-based MIS that covers beneficiary identification, sanction, fund release and monitoring.

Don’t confuse with PMAY-G vs PMAY-Urban: PMAY-G (Rural Development Ministry) serves rural households; PMAY-Urban (Housing and Urban Affairs Ministry) serves urban poor.

Don’t confuse with PMAY-G vs Indira Awaas Yojana: IAY was the older rural housing scheme; PMAY-G replaced it in 2016.

Schemes: 52 Prelims questions since 2013, 10 in Prelims 2026 alone. They test features, the period and who funds it. In Mains, 33 news-triggered questions, mostly GS3.

Test yourselfMains

Worth revising until Prelims 2028: most news questions come within two years of the event.

2

International relations

WTO 14th Ministerial Conference (MC14)

GS2 International organisationsGS3 TradePrelims and Mains

Why in news
The WTO's 14th Ministerial Conference (MC14) ended on March 30, 2026 in Yaoundé, Cameroon. Ministers extended fisheries subsidy talks, but there was no consensus on the e-commerce moratorium, and India declined to accept the IFD Agreement into the WTO.
What it is
The Ministerial Conference is the WTO's highest decision-making body. It brings together trade ministers of all members and meets at least once every two years. MC14 was hosted by Cameroon, and the WTO works by consensus, so one member can block a decision.
Venue and date
MC14 was held in Yaoundé, Cameroon, and closed on March 30, 2026.
Fisheries subsidies
Ministers agreed to keep negotiating, aiming to give recommendations to MC-15 on comprehensive disciplines under Article 12 of the Agreement on Fisheries Subsidies.
IFD Agreement
India did not agree to bring the Investment Facilitation for Development Agreement into the WTO as an Annex 4 (plurilateral) agreement.
E-commerce moratorium
No consensus was reached on extending the moratorium on customs duties on electronic transmissions. The General Council in Geneva will take it up next.
Decision-making
The WTO takes decisions by consensus, and the Ministerial Conference meets at least once every two years.
Phase II focus
The Ministerial Decision sets the course of Phase II negotiations on fisheries subsidies relating to overcapacity and overfishing.
India's priorities
India sought a 25-year transition period for developing countries, stronger disciplines on distant-water fleets, a permanent carve-out for small-scale fishers, and per capita subsidy intensity as the basis.
Principles invoked
India grounded its stance in SDG 14.6, S&DT, CBDR-RC and the Polluter Pays Principle.
Status of the Conference
The Ministerial Conference is the WTO's highest decision-making body and meets at least once every two years.
Fisheries Subsidies Agreement
The opening session marked the entry into force of the Agreement on Fisheries Subsidies on 15 September 2025.
India's position on reform
India wants reform to be transparent, inclusive and Member-driven, keeping development at the core and upholding non-discrimination, consensus-based decision making and equity.
Ministerial Conference
It is the topmost decision-making body of the WTO, meeting at least once every two years. The General Council acts for it between sessions.
WTO
The WTO was established on 1 January 1995 and is headquartered in Geneva. It replaced GATT.
Dates and venue
MC14 is to be held in Yaoundé, Cameroon, from 26 to 29 March 2026.
Chair
Cameroon's Trade Minister, Luc Magloire Mbarga Atangana, chairs the conference.
Agenda
Items include WTO reform, the E-Commerce Work Programme and Moratorium, Investment Facilitation for Development, fisheries subsidies, and agriculture and development.
India's asks
India wants a permanent solution on public stockholding, effective S&DT, and a restored binding dispute settlement mechanism.
Legal basis
The WTO was set up by the Marrakesh Agreement (1994), in force from 1 January 1995, with headquarters in Geneva.

Don’t confuse with Ministerial Conference vs General Council: The Ministerial Conference is the top body and meets at least every two years. The General Council acts between sessions and will now take up the e-commerce moratorium.

Don’t confuse with Annex 4 (plurilateral) vs multilateral agreements: Plurilateral agreements in Annex 4 bind only members that accept them. Multilateral agreements bind all members.

Don’t confuse with Phase I vs Phase II: Phase I of the fisheries subsidies work covered the 2022 Agreement's core disciplines (e.g. on IUU fishing). Phase II deals with the remaining issues such as overcapacity and overfishing.

Don’t confuse with WTO vs GATT: GATT (1947) was a treaty with no institution. The WTO (1995) is a permanent organisation covering goods, services and intellectual property.

International bodies and relations: the largest group of news questions in Prelims (61 since 2013), often about background, members and location. In Mains, 27 news-triggered questions, mostly on India's interests.

Test yourself

Worth revising until Prelims 2027: most news questions come within two years of the event.

3

International relations

Nagoya Protocol on Access and Benefit-sharing

GS3 Environment and BiodiversityGS2 International agreementsPrelims and Mains

Why in news
On 31 March 2026, the Environment Ministry said India leads the world in issuing Internationally Recognized Certificates of Compliance (IRCCs) under the Nagoya Protocol, with 3,561 of 6,311 certificates.
What it is
The Nagoya Protocol on Access and Benefit-sharing is a treaty under the Convention on Biological Diversity. It sets rules for access to genetic resources and for fair sharing of benefits from their use. It was adopted in 2010 at Nagoya, Japan, and came into force in 2014. India implements it through the Biological Diversity Act, 2002.
What an IRCC proves
An IRCC is evidence that Prior Informed Consent was obtained and Mutually Agreed Terms were set between user and provider.
Indian institutions
The Biological Diversity Act, 2002 works through the National Biodiversity Authority, State Biodiversity Boards and Biodiversity Management Committees.
Legal basis
The Nagoya Protocol is a supplementary agreement to the Convention on Biological Diversity, adopted in 2010 and in force since 2014.

Don’t confuse with Nagoya Protocol vs Cartagena Protocol: Nagoya concerns access and benefit-sharing of genetic resources. Cartagena concerns biosafety in handling living modified organisms.

International bodies and relations: the largest group of news questions in Prelims (61 since 2013), often about background, members and location. In Mains, 27 news-triggered questions, mostly on India's interests.

Test yourself

Worth revising until Prelims 2027: most news questions come within two years of the event.

4

Scheme

Jal Jeevan Mission and Jal Arpan

GS2 Welfare schemesGS3 Rural water supplyPrelims and Mains

Why in news
On 31 March 2026 the Jal Shakti Ministry said ₹1,561.53 crore was released to five States for 2025-26 under Jal Jeevan Mission 2.0, after they met new compliance conditions including signing reform-linked MoUs.
What it is
Jal Jeevan Mission is the Centre's flagship scheme, run by the Department of Drinking Water and Sanitation under the Ministry of Jal Shakti, to give every rural household a tap water connection. Jal Arpan is a reform under it: the formal handover of completed water supply schemes to Gram Panchayats and Village Water and Sanitation Committees for operation and maintenance.
Jal Arpan
Formal handover of completed rural water supply schemes to Gram Panchayats and VWSCs, after a prescribed trial run period.
Coverage
More than 15.96 crore rural households, over 82% of rural households, have tap connections.
Jal Arpan module
Developed by the Department of Drinking Water & Sanitation; keeps a digital record of scheme handover.
Sujalam Bharat
Geotagging of water supply assets and sources under JJM 2.0 to build a digital inventory.
Launch
Jal Jeevan Mission was launched in August 2019 with the target of tap water to all rural households by 2024.
Summit dates and venue
The first Departmental Summit is on 1-2 September 2026 at Sushma Swaraj Bhawan, New Delhi.
Purpose of the summit model
It is a new platform to strengthen cooperative federalism through Centre-State collaboration. It is the first of a series of such summits.
Four thematic pillars
Timely implementation of water infrastructure projects, Jal Sanchay Jan Bhagidari-Catch the Rain, source sustainability of drinking water, and operation and maintenance of rural water supply under Jal Jeevan Mission 2.0.
Who attends
Political leaders and senior officials from the Union and State Governments take part.
Outcome presentation
States will present outcomes and action plans to the Prime Minister in the valedictory session.
Nodal ministry
Jal Jeevan Mission is implemented by the Ministry of Jal Shakti.
JJM 2.0 approval
JJM 2.0 was approved on 10 March 2026. Its strategy centres on source sustainability, groundwater recharge and greywater management.
Water security in the VB-G RAM G Act
The VB-G RAM G Act, 2025 names water security as one of its four thematic focus areas.
SBM(G) 2.0 focus
SBM(G) 2.0 focuses on scientific management of solid and liquid waste.
Planning vehicle
Convergence is to be done through Viksit Gram Panchayat Plans, aligned with Village Action Plans under JJM 2.0 and SBM-G 2.0.
Geo-tagging and tools
Works must be registered and geo-tagged on the Viksit Bharat National Rural Infrastructure Stack. States are to use tools such as Yuktdhara, water budgeting and hydrogeological assessments.
Institutional step
The officer in charge of Rural Water Supply or the Public Health Engineering Department is to join the State-level Steering Committee under the Act.
Launch and aim
Launched on 15 August 2019 to give every rural household a functional tap connection on a regular, long-term basis.
Service standard
The Mission targets 55 litres per capita per day of water meeting the BIS 10500 standard, at affordable service charges.
Har Ghar Jal certification
188 districts, 1,090 blocks, 1.01 lakh Gram Panchayats and 2.04 lakh villages are certified Har Ghar Jal.
Extension
The Union Government has extended the Mission till December 2028.
Signatories
MoUs were signed with four States (Arunachal Pradesh, Jharkhand, Tamil Nadu, Nagaland) and one UT (Puducherry).
Model mandated
The MoU requires a Gram Panchayat-led, service-based and community-centred model of rural water governance.
JJM 2.0 priorities
Focus is on sustaining infrastructure, tap functionality, water quality, source sustainability, O&M, community ownership and regular monitoring.
Institutions
Collectors are to hold regular District Water and Sanitation Mission meetings, which help prepare Village Action Plans and certify Panchayats as capable institutions.
Conditions before fund release
States must sign the MoU, get schemes validated against the Sujalam Bharat GIS-linked Asset Registry, certify compliance with CPHEEO design norms, and reconcile expenditure financially.
Jal Utsav
A three-tier annual community campaign: Jal Mahotsav nationally, Rajya Jal Utsav or Nadi Utsav in States, and Lok Jal Utsav at Gram Panchayat level.
MoU count
Meghalaya is the twelfth State to sign a Reform-Linked MoU under JJM 2.0.
Cabinet approval
JJM 2.0 was approved by the Union Cabinet on 10 March 2026.
Extended deadline
The original deadline of May 2024 has been extended to December 2028.
Outlay
The Cabinet approved an additional outlay of ₹1.51 lakh crore for the Mission.
Local role
Gram Panchayats and VWSCs are to manage and operate in-village water supply systems; District Water Sanitation Missions prepare village action plans and issue panchayat certifications.
Implementing ministry
JJM is implemented by the Department of Drinking Water and Sanitation, Ministry of Jal Shakti.
Jal Mahotsav 2026
A 15-day nationwide campaign from 8 March (International Women's Day) to 22 March (World Water Day), with Jal Arpan of assets to Gram Panchayats.
Key reform areas
Assured service delivery with defined performance standards, clear accountability at State, district and Gram Panchayat levels, and long-term sustainability through source protection.
Implementing body
JJM is implemented by the Department of Drinking Water and Sanitation, Ministry of Jal Shakti, jointly with States.
New end date
The Mission is extended up to December 2028 with a higher financial outlay.
MoU model
The MoU mandates a Gram Panchayat-led, service-based, community-centred model of rural water governance.
Implementing department
The Mission is run by the Department of Drinking Water and Sanitation under the Ministry of Jal Shakti, through the National Jal Jeevan Mission.
Original launch
JJM was launched in 2019 with the aim of tap water to every rural household by 2024.
Funding pattern
JJM is a centrally sponsored scheme; the Centre-State share is 90:10 for Himalayan and North-Eastern States, 50:50 for other States.
Start and aim
Running since August 2019, JJM aims at assured tap water to every rural household in partnership with States.
Extended phase
The extended phase focuses on infrastructure quality and O&M through Jan Bhagidhari, with separate MoUs signed with States/UTs.
Functionality assessment 2024
An independent third-party assessment found 76% of household tap connections functional, judged on quantity, quality and regularity.
Federal division
Drinking water is a state subject; States handle planning, approval, implementation and O&M, and the Centre gives technical and financial help.
Reform areas in MoU
The reform-linked MoU covers 11 structural reform areas, including institutional architecture, service utility framework, water quality governance and source sustainability.
Jal Arpan condition
A key MoU condition is that completed piped schemes be handed over to Gram Panchayats/VWSCs and the community through Jal Arpan.
Decision Support System
The MoU provides for the DSS platform, developed by DDWS, as a digital planning tool at district and GP levels for source sustainability, integrated with Sujalam Bharat and national water datasets.
Mission extension
JJM has been extended till December 2028 with an enhanced outlay.
Reform areas
The MoU covers 11 structural reform areas, such as service utility framework, water quality governance and source sustainability.
Sujal Gaon ID
A scheme-based unique digital identifier for mapping rural piped water supply assets. 1.64 lakh IDs are created across 31 States/UTs, linked to 67,000 Sujalam Bharat IDs.
Conditions for central funds
Central funds depend on four requirements: signing the MoU, creating Sujal Gaon IDs, timely financial reconciliation, and notifying State O&M policies.
Funding modes
Upfront payment, reimbursement and Viability Gap Funding (for annuity-based PPP models in BWSs). No central help for retrofitting schemes.
Har Ghar Jal declaration
A Gram Panchayat can declare itself Har Ghar Jal only after the State has set up adequate in-village operation and maintenance mechanisms.
Target and MoUs
All 19.36 crore rural households are to get tap connections by December 2028, with separate MoUs with States/UTs.
Water quality standard
BIS:10500 is the benchmark for water supplied under JJM; arsenic and fluoride affected habitations get priority.
Quality monitoring funds
States/UTs can use up to 2% of their annual JJM allocation for water quality monitoring and surveillance.
Nal Jal Mitra
Nal Jal Mitra Programme, run with the Ministry of Skill Development and Entrepreneurship, trains villagers as scheme operators and for minor repairs.
Implementing agency
The scheme is run by the Ministry of Jal Shakti through its Department of Drinking Water and Sanitation.

Don’t confuse with Jal Jeevan Mission vs Atal Mission for Rejuvenation and Urban Transformation (AMRUT): JJM targets rural household tap connections; AMRUT covers urban water supply and sewerage.

Don’t confuse with Jal Jeevan Mission vs Swachh Bharat Mission (Grameen): JJM is for drinking water supply; SBM-G is for sanitation. Both run under the Department of Drinking Water and Sanitation.

Don’t confuse with Jal Arpan vs Jal Sanchay Jan Bhagidari: Jal Arpan hands over completed water supply schemes to local bodies for operation and maintenance. Jal Sanchay Jan Bhagidari is a community-participation drive on water conservation and rainwater harvesting.

Don’t confuse with JJM vs SBM(G): JJM provides tap water to rural homes. SBM(G) deals with rural sanitation and waste management. Both are run by DDWS.

Don’t confuse with Jal Arpan vs JJM: Jal Arpan is only the handover of completed schemes for operation and maintenance. JJM is the whole mission.

Don’t confuse with Jal Jeevan Mission vs Jal Jal Shakti Abhiyan: JJM provides household tap connections in rural areas. Jal Shakti Abhiyan is a water conservation and rainwater harvesting campaign.

Don’t confuse with JJM vs Swajaldhara/NRDWP: Earlier programmes such as Swajaldhara and NRDWP focused on habitation-level coverage; JJM targets household tap service delivery.

Don’t confuse with Jal Arpan vs Jal Sankalp: Jal Arpan is the formal handover of water assets to Gram Panchayats. Jal Sankalp is Arunachal Pradesh's gap-funding effort for source sustainability.

Don’t confuse with Jal Arpan vs Jal Utsav: Jal Arpan is the commissioning and formal handover of schemes to Gram Panchayats and VWSCs. Jal Utsav is an annual community campaign for maintenance and review.

Don’t confuse with Sujalam Bharat vs Meri Panchayat: Sujalam Bharat is the digital asset and service-area mapping framework. Meri Panchayat is the application that reflects citizen feedback from Jal Seva Aankalan.

Don’t confuse with Jal Jeevan Mission vs Jal Sanchay: JJM provides tap water to rural homes; Jal Sanchay is the water conservation push that supports source sustainability.

Don’t confuse with Jal Jeevan Mission vs AMRUT: JJM covers rural households; AMRUT focuses on urban water supply and sewerage.

Don’t confuse with Jal Arpan vs Jal Mahotsav: Jal Arpan is the handover of water assets to local bodies; Jal Mahotsav is a community campaign during which such handovers were held.

Don’t confuse with Jal Jeevan Mission vs Jal Shakti Abhiyan: JJM is a tap connection scheme; Jal Shakti Abhiyan is a water conservation campaign.

Don’t confuse with Jal Shakti Abhiyan vs Jal Jeevan Mission: Jal Shakti Abhiyan: Catch the Rain is a water conservation campaign for source sustainability; JJM is the tap connection scheme.

Don’t confuse with Jal Seva Aankalan vs Jal Arpan: Jal Seva Aankalan records service delivery responses at GP level. Jal Arpan is the handover of schemes.

Don’t confuse with Sujal Gaon ID vs Sujalam Bharat ID: Sujal Gaon ID identifies a scheme. Each Sujalam Bharat ID combines a scheme's infrastructure ID and service area ID, and Sujalam Bharat is the wider national digital architecture.

Don’t confuse with Jal Jeevan Mission vs Jal Arpan: JJM is the overall scheme for rural tap connections; Jal Arpan is a reform under it for handing over completed schemes to GPs/VWSCs.

Don’t confuse with JJM vs Swachh Bharat Mission (Gramin): JJM provides piped drinking water; SBM (Gramin) is the sanitation programme, with which JJM converges for grey-water reuse.

Schemes: 52 Prelims questions since 2013, 10 in Prelims 2026 alone. They test features, the period and who funds it. In Mains, 33 news-triggered questions, mostly GS3.

Test yourself

Worth revising until Prelims 2028: most news questions come within two years of the event.

5

Scheme

eGramSwaraj and SabhaSaar

GS2 Governance and Panchayati RajGS3 Digital governancePrelims and Mains

Why in news
On 31 March 2026, the Ministry of Panchayati Raj said over ₹3 lakh crore (cumulative) has been paid through eGramSwaraj, and that SabhaSaar now works in 23 Indian languages, up from 13.
What it is
eGramSwaraj is a web portal of the Ministry of Panchayati Raj for planning, accounting and payments by Panchayati Raj Institutions. It was built under the e-Panchayat Mission Mode Project and links to PFMS. SabhaSaar is the Ministry's AI voice-to-text tool that summarises Gram Sabha meetings into minutes, attendance, resolutions and action points.
eGramSwaraj link to PFMS
The portal was developed under the e-Panchayat Mission Mode Project and is integrated with PFMS, so payments go directly to vendors in real time with digital traceability.
FY 2025-26 payments
PRIs transferred ₹53,342 crore through the eGramSwaraj-PFMS interface in 2025-26.
Constitutional basis of Panchayats
Panchayati Raj Institutions get constitutional status from Part IX of the Constitution, inserted by the 73rd Amendment Act, 1992.

Don’t confuse with eGramSwaraj vs PFMS: eGramSwaraj is the Panchayat-level planning, accounting and payment portal. PFMS is the Centre's wider public fund tracking system that it links to.

Don’t confuse with Gram Sabha vs Gram Panchayat: Gram Sabha is the body of all registered voters of a village. Gram Panchayat is its elected executive body.

Schemes: 52 Prelims questions since 2013, 10 in Prelims 2026 alone. They test features, the period and who funds it. In Mains, 33 news-triggered questions, mostly GS3.

No practice question for this one; the card may still help an answer. Why: Standing digital governance tools for panchayats. Facts are mostly routine usage figures, so a question is unlikely.

Worth revising until Prelims 2027: most news questions come within two years of the event.

6

Economy

CBIC Courier and E-commerce Export Reforms

GS3 Economy: External sectorPrelims and Mains

Why in news
On 31 March 2026, the CBIC announced reforms for e-commerce exports and courier trade, effective 1 April 2026, following the Union Budget 2026-27 announcement. They remove the ₹10 lakh cap on courier export consignments and add a Return to Origin facility.
What it is
Courier exports and imports in India are governed by customs regulations framed under the Customs Act, 1962. CBIC, under the Ministry of Finance, administers them. The Express Cargo Clearance System is the electronic platform for clearing courier consignments.
Value cap removed
The ₹10 lakh per-consignment limit on commercial courier exports is removed. Such shipments no longer have to move by air or sea cargo because of value.
Return to Origin (RTO)
Goods uncleared or unclaimed for over 15 days at International Courier Terminals can be returned to origin by a simplified procedure. Prohibited, restricted or enforcement-hold goods are excluded.
Re-import of returned goods
A risk-based approach replaces consignment-wise verification for re-import of returned or rejected goods. A dedicated return module is added to the Express Cargo Clearance System.
Legal instruments
The Courier Imports and Exports (Electronic Declaration and Processing) Regulations 2010 and the Courier Imports and Exports (Clearance) Regulations, 1998 were amended. Notifications 33/2026 and 34/2026-Customs (N.T.) carry the changes.
Who administers
CBIC is the apex body for customs and indirect taxes and works under the Department of Revenue, Ministry of Finance.

Don’t confuse with CBIC vs CBDT: CBIC handles customs, GST and central excise. CBDT handles direct taxes such as income tax.

Economy terms and data: 42 Prelims questions since 2013, rising in recent years; they test what a term or instrument means. In Mains, 12 news-triggered questions.

No practice question for this one; the card may still help an answer. Why: Removal of the Rs 10 lakh courier export cap and a Return to Origin mechanism are lasting trade reforms, but they are too narrow for a likely question.

Worth revising until Prelims 2027: most news questions come within two years of the event.

7

Economy

Advance Pricing Agreements (APA)

GS3 Economy: TaxationPrelims and Mains

Why in news
On 31 March 2026, the CBDT said it signed a record 219 Advance Pricing Agreements in FY 2025-26, taking the total since inception to 1,034. It also noted Finance Act 2026 changes to Safe Harbour Rules.
What it is
An Advance Pricing Agreement is an agreement between the tax authority and a taxpayer. It fixes in advance the pricing method and arm's length price for the taxpayer's international transactions with associated enterprises, for a set number of years. It reduces transfer pricing disputes. A bilateral APA also involves the treaty partner's tax authority.
Cumulative total
The total is 1,034 APAs: 750 unilateral and 284 bilateral.
Period and benefit
APAs fix the arm's length price of international transactions in advance for up to five years. BAPAs also protect against double taxation.

Don’t confuse with Unilateral vs bilateral APA: A unilateral APA is between the taxpayer and the Indian tax authority only. A bilateral APA also involves the treaty partner's authority and gives relief from double taxation.

Don’t confuse with APA vs Safe Harbour: An APA is a negotiated, taxpayer-specific agreement. Safe Harbour prescribes fixed margins for specified categories of transactions, as a faster and cheaper option.

Economy terms and data: 42 Prelims questions since 2013, rising in recent years; they test what a term or instrument means. In Mains, 12 news-triggered questions.

No practice question for this one; the card may still help an answer. Why: APAs are a lasting tax-certainty tool. The news gives records and counts, but economy terms are tested on concept, so a question is unlikely.

Worth revising until Prelims 2027: most news questions come within two years of the event.

Quick facts

  • Dunagiri, fifth Project 17A (Nilgiri class) stealth frigate, was delivered to the Navy on 30 Mar 2026 from GRSE, Kolkata.
  • Sanshodhak, the fourth and last Survey Vessel (Large), was delivered to the Navy at GRSE Kolkata on 30 Mar 2026.
  • MoD signed a Rs 1,950 crore contract with BEL on 31 Mar 2026 for two Mountain Radars for the IAF, designed by DRDO's LRDE under Buy (Indian-IDDM).
  • Nyaya Setu, a multilingual voice-first AI legal assistant built by the Digital India BHASHINI Division, was unveiled at the DISHA programme.
  • Malwan, second of eight Anti-Submarine Warfare Shallow Water Craft built by Cochin Shipyard, was delivered to the Navy on 31 Mar 2026.
  • Shachi, first of eleven Next Generation Offshore Patrol Vessels, was launched at GSL, Goa on 31 Mar 2026.

Source: PIB, 31 Mar

What we left out: 30 of 43 releases
  • Ceremonies and campaigns (5)
  • Same issue as another release (2)
  • Greetings and tributes (7)
  • Meetings without a decision (1)
  • Routine naval visits (1)
  • Speeches without a decision (9)
  • Same issue as on file (2)
  • Routine MoUs (1)
  • Routine data (1)
  • Routine election procedure (1)

Practise the day’s news

Mains question of the day

15 marks · 250 words

Pradhan Mantri Awaas Yojana-Gramin has completed 2.99 crore of 3.90 crore sanctioned houses and aims for a cumulative 4.95 crore rural houses by 2029. Discuss the main provisions of the scheme and critically examine the challenges in meeting this target.

From: Pradhan Mantri Awas Yojana-Gramin

Write and get it marked

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