UDAN scheme India revamped with ₹28,850 crore plan till 2036

Context: UDAN scheme India

Cabinet approves revamped UDAN scheme (₹28,850 crore, 2026–2036) to strengthen regional air connectivity and ensure viability of routes in underserved areas.

UDAN Scheme

• Launched: 2016 | Ministry: Civil Aviation
• Aim: Affordable air travel + regional connectivity
• Targets unserved/underserved airports to democratise flying

Modified UDAN — What’s New

• 10-year framework (2026–36)
• Shift from expansion → sustainability & viability of routes
• Stronger financial + infrastructure support

Key Points

• 100 new airports (challenge-based, with States)
• 120 destinations | 4 crore passengers target
• 200 helipads + water aerodromes (remote/hilly regions)
• VGF support for airlines on non-viable routes
• Indigenous aircraft push (HAL Dhruv, Dornier)
• Focus on last-mile connectivity + emergency access

Local currency oil trade India plans payments in rupee and dirham

Local Currency Oil Trade India

• Plan to pay for oil in local currencies (₹/dirham)
• Cuts conversion cost (~5–6%)
• May cover large share of imports (~80%)
• Trigger: high oil prices + weak rupee
• Risk: possible U.S. pushback

Strait of Hormuz India gets passage amid West Asia tensions

Context: Strait of Hormuz India

Amid West Asia conflict and oil price surge, India is securing energy flows (Hormuz access) and reducing cost-risk (local currency trade).

Key Points

• Iran permits passage to India + 4 nations
• Strait of Hormuz: critical global oil chokepoint
• Assurance of safe shipping amid tensions
• Iran asserts control over the waterway
• India’s role noted in maritime assistance incident

Single-use plastic ban India faces weak enforcement across cities

Context: Single-use plastic ban India

A survey across four cities shows that banned single-use plastic items continue to be widely used, indicating weak enforcement of the nationwide ban.

Single-use plastic

Under the Plastic Waste Management Rules, 2016 (amended 2021), single-use plastic refers to plastic items designed to be used once for the same purpose and then discarded, particularly those with low utility and high littering potential.
The ban on identified single-use plastic items came into force from 1 July 2022.

Key Points

• 84% of surveyed sites still using banned plastics
• Highest violations in Bhubaneswar, followed by Delhi and Mumbai
• Non-compliance mainly in informal sector
• Organised retail shows better adherence
• Reasons: weak enforcement, low cost of plastics, high consumer demand

S-400 missile system India deliveries expedited, full supply by 2026

Context: S-400 missile system India

India to receive remaining 2 S-400 units in 2026 (April & November) after delays due to Russia–Ukraine war; delivery timeline now expedited.

Key Points

• Deal: 2018 | $5.43 billion | 5 squadrons
• Delivered: 3 operational
• Delay reason: war + supply disruptions
• High-level India–Russia coordination ensured faster delivery
• Purpose: strengthen air defence vs missiles, aircraft, drones

S-400

• Type: Long-range Surface-to-Air Missile (SAM) system (Russia)
• Range: ~400 km
• Tracks: ~300 targets simultaneously
• Targets: Aircraft, cruise missiles, ballistic missiles, drones
• Feature: Multi-layered, mobile, high-end radar system

FPI sell-off India hits record ₹1.1 lakh crore in March

Context: FPI sell-off India

Foreign Portfolio Investors (FPIs) recorded their highest-ever monthly sell-off (~₹1.1 lakh crore in March) due to global oil shocks, geopolitical tensions, and weak short-term investment triggers, reflecting fragile market sentiment.

Key Points

1. ₹1,12,244 crore equity outflow → record high
2. Surpassed ₹94,017 crore (Oct 2024)
3. February → ₹22,615 crore inflow (trend reversal)
4. Major selling: Financials, Automobiles
5. Reasons: Oil volatility, Middle East tensions, weak investment narrative
6. Shift towards passive investing, cautious foreign sentiment

FPI (Foreign Portfolio Investment)

Foreign Portfolio Investment refers to investment by a person resident outside India in securities such as shares, bonds, government securities, mutual funds, etc., without exercising ownership or control over the entity, and is regulated under the SEBI (Foreign Portfolio Investors) Regulations, 2019 and the FEMA (Foreign Exchange Management Act), 1999 framework.

FDI (Foreign Direct Investment)

Foreign Direct Investment refers to investment by a person resident outside India in the capital of an Indian entity with the intention of establishing a lasting interest and significant degree of influence or control (generally 10% or more equity participation), governed by the FEMA, 1999 (RBI) and DPIIT FDI Policy.