Current Affairs 16 March 2026

Economic Stabilisation Fund

The Government of India has allocated ₹57,381 crore to create an Economic Stabilisation Fund to address global economic uncertainties such as energy price shocks, supply chain disruptions, and geopolitical crises. t was proposed by the Finance Ministry and approved through Supplementary Demands for Grants in Parliament (2025-26).

The Lok Sabha approved additional government spending with a net cash outgo of about ₹2.01 lakh crore during the current fiscal year. The newly created Economic Stabilisation Fund will provide fiscal space for the government to respond to global economic headwinds, including unexpected crises affecting India’s economy.

Despite the additional expenditure, the government reaffirmed that the fiscal deficit target for 2025–26 will remain at 4.4% of GDP, as announced in the Union Budget.

Removal of the Chief Election Commissioner (CEC)

Members of the INDIA bloc submitted a notice in both Houses of Parliament seeking the removal of the Chief Election Commissioner (CEC) Gyanesh Kumar. This is the first time such a notice has been submitted in Parliament for the removal of a CEC.

The notice lists several allegations including partisan conduct, obstruction of investigation into electoral fraud, and mass disenfranchisement. According to the rules, a motion for removal requires at least 100 MPs’ signatures in the Lok Sabha and 50 MPs’ signatures in the Rajya Sabha. The Opposition’s notice reportedly had 130 signatures in the Lok Sabha and 63 in the Rajya Sabha, exceeding the required threshold.

Removal Process of the Chief Election Commissioner (CEC)

1. Constitutional Provision: The removal process is governed by Article 324(5) of the Constitution of India.
2. Removal Procedure: The Chief Election Commission can be removed in the same manner and on the same grounds as a Judge of the Supreme Court (proved misbehaviour or incapacity).
3. Removal Notice:: A removal motion must be submitted in either House of Parliament (Lok Sabha or Rajya Sabha).
4. Minimum Signatures: Removal notice for CEC requires either 100 Lok Sabha MPs or 50 Rajya Sabha MPs, depending on the House where the motion is introduced.
5. Admission of Motion: Speaker (Lok Sabha) or Chairman (Rajya Sabha) decides whether to admit the motion.
6. Inquiry Committee: If admitted, a 3-member inquiry committee is formed under the Judges Inquiry Act, 1968.
   • Usually, this committee consists of a Supreme Court judge, a Chief Justice of a High Court, a distinguished jurist.
7. Committee Investigation: The committee investigates the allegations and allows the CEC to present defence and evidence.
8. Committee Report: The committee submits its findings to Parliament on whether the charges are proved or not.
9. Special Majority Vote: If charges are proved, the motion must be passed in both Houses of Parliament with special majority (majority of total membership + 2/3 of members present and voting).
10. Final Removal: After Parliament passes the motion, the President of India issues the order removing the Chief Election Commissioner.

AP Cabinet Approved Multi Village Schemes and Sakhi Nivas Hostels

The Cabinet granted administrative approval of ₹9,355 crore for seven Multi-Village Schemes (MVS) to provide safe drinking water. These schemes aim to supply 55 litres of water per person per day to more than 65 lakh people across 76 mandals in Andhra Pradesh.

Additionally, ₹1,814.71 crore has been sanctioned for 3,000 localised water projects in water-stressed areas under the Jal Jeevan Mission with support from National Bank for Agriculture and Rural Development.

The Cabinet also approved the ‘Sakhi Nivas’ hostel initiative under Mission Shakti, which will establish 30 hostels for single working women, widows, and women living away from their families, including creche facilities for working mothers.

Further, the government expanded irrigation subsidies under the Per Drop More Crop programme for tribal farmers holding forest rights titles:

• 100% subsidy for drip irrigation
• 90% subsidy for sprinkler irrigation

The scheme will be implemented in eight districts to improve agricultural productivity in rain-fed tribal lands.

Pradhan Mantri Mudra Yojana

Context:

The government recently simplified the loan process through the Jan Samarth Portal, which allows applicants to apply for loans digitally.

About PMMY:

The Pradhan Mantri Mudra Yojana was launched on 8 April 2015 to provide collateral-free loans to small entrepreneurs and micro enterprises. The scheme is implemented through Scheduled Commercial Banks (SCBs), Non-Banking Financial Companies (NBFCs), and Micro Finance Institutions (MFIs).

Under PMMY, loans are provided for income-generating activities in manufacturing, trading, service sectors and agriculture-allied activities. The scheme categorizes loans into four types:

• Shishu: Loans up to ₹50,000
• Kishor: Loans above ₹50,000 and up to ₹5 lakh
• Tarun: Loans above ₹5 lakh and up to ₹10 lakh
• Tarun Plus: Loans above ₹10 lakh and up to ₹20 lakh

The Tarun Plus category, introduced in 2024–25, provides collateral-free loans up to ₹20 lakh for entrepreneurs who have successfully repaid loans under the Tarun category.

National Waterway 98

The Sutlej River has been declared National Waterway 98. The waterway stretches from the Bridge at Sunni in Mandi district of Himachal Pradesh to Harike Barrage in Punjab, passing through Rupnagar district.

A feasibility study for the development of NW-98 is currently being conducted, and the report is expected to be submitted by May 2026. The Government of India has sanctioned ₹2.82 crore for the study.

The Kharg Island

The Kharg Island, located in the Persian Gulf, has recently become a focal point in the escalating conflict between the United States and Iran.

U.S. President Donald Trump claimed that U.S. forces carried out strikes on military targets on Kharg Island, which hosts Iran’s primary oil export terminal. The strikes reportedly targeted military installations such as air defence facilities, missile storage bunkers, naval bases, and helicopter hangars, while avoiding damage to oil infrastructure.

Atomic clock on NavIC satellite stopped functioning

India’s regional navigation system NavIC has been weakened after the atomic clock on the satellite IRNSS-1F stopped functioning on 13 March 2026, according to the Indian Space Research Organisation. With this failure, the number of operational satellites capable of providing reliable navigation services under NavIC has reduced from four to three, whereas at least four satellites are required for effective navigation services.

NavIC is India’s indigenous satellite navigation system designed to provide positioning services within India and up to about 1,500 km beyond its borders.

The failed clock was a Swiss-made atomic clock manufactured by SpectraTime. To reduce dependency on foreign technology, ISRO plans to install indigenously developed rubidium atomic clocks in the next generation of satellites, including the NVS-01, which already carries a domestically developed clock.

Essential Commodities Act, 1955

The Government of India has invoked the Essential Commodities Act 1955 to manage the emerging cooking gas (LPG) supply crisis caused by disruptions in the Strait of Hormuz, through which a large share of India’s LPG imports pass.

The Act allows the government to control production, supply, distribution, and pricing of essential commodities. Under Section 3 of the Act, the Centre can regulate supply, prevent hoarding, impose stock limits, and ensure equitable distribution at fair prices.

To address the gas shortage, the government directed oil refineries to divert propane and butane streams towards LPG production instead of petrochemical manufacturing. This order applies to both public and private refiners, including Indian Oil Corporation (IOCL), Bharat Petroleum (BPCL), Hindustan Petroleum (HPCL), Reliance Industries, and Nayara Energy.

The government has also introduced a priority-based allocation of natural gas, giving top priority to:

• Household piped natural gas (PNG)
• Compressed natural gas (CNG) for transport
• Gas required for LPG production

List of Essential commodities

• Food grains
• Pulses
• Edible oils
• Fertilizers
• Drugs and medicines
• Petroleum and petroleum products
• Seeds
• Cotton and jute products

HALEU-thorium (HALEU-Th)

A study published in the journal Current Science by scientists from the Bhabha Atomic Research Centre concluded that HALEU-thorium fuel may not be suitable for India’s existing pressurised heavy water reactors (PHWRs) because it could reduce the effectiveness of reactor shutdown systems.

HALEU (High-Assay Low-Enriched Uranium) contains a higher proportion of U-235 compared to conventional reactor fuel and is often combined with thorium, a fertile material that can breed fissile fuel.

Mayank Chakraborty has become India’s 94th Grandmaster

Mayank Chakraborty has become India’s 94th Grandmaster (GM) and the first Grandmaster from Assam. The 16-year-old achieved the title at the Chess Talents Tournament held in Stockholm.

Seven Green Field Airports in Andhra Pradesh

The Government of Andhra Pradesh has announced plans to construct seven greenfield airports across the state to boost civil aviation connectivity and regional development. The project is estimated to cost around ₹7,47a2 crore.

The proposed airports will be developed at Dagadarthi (Nellore), Kuppam, Amaravati, Srikakulam, Nagarjuna Sagar (NSP), Ongole, and Anantapur. In addition, airports are also planned at Tuni–Annavaram and Tadepalligudem.

A major highlight is the Amaravati Greenfield Airport, which will be developed under the Public–Private Partnership (PPP) model on a Design–Build–Finance–Operate–Transfer (DBFOT) basis. Around 4,500 acres of land will be allocated for the airport under the Land Pooling Scheme (LPS)-2, with an estimated Phase-I cost of about ₹4,700 crore. The Techno-Economic Feasibility Report (TEFR) has been completed by RITES Limited.

Another important project is the Alluri Sitharama Raju International Airport at Bhogapuram, which is expected to become operational by June 2026.

Jnanpith Award 2026

Renowned Tamil lyricist and author Vairamuthu has been selected for the Jnanpith Award, the highest literary award in India. With this achievement, he becomes the third Tamil writer to receive the prestigious award.

Before Vairamuthu, the award was received by two Tamil literary legends: Akilan and Jayakanthan.

Country’s Metro Rail Network

Our country’s metro rail network has widened over the past decade, emerging as a major driver of sustainable urban transport and economic development. According to data released by the Press Information Bureau, the metro network has expanded from 248 km in 2014 to about 1,095 km by 2025, making India the third-largest operational metro network in the world.

Metro services now operate in 26 cities, compared to only 5 cities in 2014, reflecting rapid infrastructure growth. The annual metro budget has also increased sharply from ₹5,798 crore in 2013–14 to ₹29,550 crore in 2025–26.

A study by the Economic Advisory Council to the Prime Minister titled “Golden Decade of Infrastructure Development in India with Special Reference to Metro Rail Network” highlights that metro connectivity reduces household transport expenses and improves loan repayment discipline, contributing to better financial stability.

Key innovations in India’s metro ecosystem include:

• Namo Bharat RRTS – India’s first semi-high-speed regional train from Delhi to Meerut (operational since 2023).
• Kochi Water Metro – India’s first water metro launched in 2023.
• Kolkata Underwater Metro – India’s first underwater metro tunnel launched in 2024.

Disclaimer: This article is prepared for competitive exam preparation using publicly available information.