Economy

A sharp rise in fraudulent phone calls linked to LPG bookings has emerged as a serious concern in Punjab, fueled by rumors of supply disruptions and heightened consumer anxiety. Cybercriminals are exploiting panic-driven demand by impersonating representatives of major gas providers and using phishing tactics to extract sensitive financial information. Authorities warn that increased digital adoption, combined with misinformation about shortages, has created a fertile environment for such scams.

A fresh inter-state dispute has emerged as Bhagwant Mann announced that Punjab will seek Rs. 1.44 lakh crore in unpaid water royalty from Rajasthan. The claim traces back to a pre-independence agreement governing water supply arrangements, under which payments were allegedly discontinued after 1960. With Rajasthan continuing to receive substantial water flows, the issue has resurfaced with financial and political implications.

Finance Minister Nirmala Sitharaman reaffirmed on Friday that India will maintain its fiscal discipline for FY26 despite introducing the second batch of Supplementary Demands for Grants, amounting to Rs 2.81 lakh crore across 61 grants. Addressing the Lok Sabha, she assured members that these additional allocations remain within the government’s fiscal deficit target of 4.4 per cent of GDP for 2025–26, while setting a lower target of 4.3 per cent for FY27.

Prime Minister Narendra Modi on 13 March 2026 released the 22nd installment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme in Guwahati, Assam, transferring approximately Rs 20,500 crore to over 9.7 crore farmers through Direct Benefit Transfer (DBT). This central sector scheme provides Rs 6,000 annually to landholding farmers, distributed in three equal installments. 

India’s basmati rice exports are expected to remain stable in the current and next financial year despite geopolitical tensions in West Asia. Export volumes are projected to grow by up to 2 percent from the 6.06 million tonnes recorded in FY25. While shipments to Iran—traditionally a major buyer—may decline due to regional uncertainties, rising demand from markets such as Saudi Arabia, Iraq, the United Arab Emirates, and Yemen is expected to offset the impact. 

The Tripura government has announced a 5 percent increase in dearness allowance (DA) for state government employees and pensioners, raising the total DA level to 41 percent. The revised rate will come into effect from April 1 and will benefit more than 1.8 lakh individuals, including over 1.02 lakh employees and 81,000 pensioners. The decision reflects the state’s ongoing effort to narrow the compensation gap between its workforce and central government employees. However, the move will also place an additional fiscal burden of approximately Rs.

India’s medical device industry is witnessing robust growth, with exports surpassing USD 4 billion in FY25 and ambitious plans to reach a USD 30 billion market by 2030. Leveraging a significant domestic market and rising global demand for affordable, high-quality medical technologies, India is positioning itself as a reliable manufacturing and export hub. Government initiatives, industry collaboration, and regulatory reforms are key drivers in strengthening the MedTech ecosystem.

India’s economic trajectory signals a rapid ascent toward becoming the world’s third-largest economy, driven by robust digital public infrastructure, highways, railways, renewable energy, and space initiatives. The Bharat Progress Report 2025-26 highlights over 100 milestones, including UPI transactions surpassing Rs 21 lakh crore and Aadhaar authentication exceeding one billion. However, the equity markets faced turbulence, with BSE Sensex and NSE Nifty 50 declining sharply due to rising crude oil prices, inflation concerns, and geopolitical tensions in West Asia.

India’s coal production from captive and commercial mines has surpassed the 200 million tonne milestone in the current financial year, reflecting steady growth in domestic energy output. Data released by the government indicates that captive and commercial coal blocks accounted for the vast majority of this production, contributing more than 194 million tonnes, while other mines added a smaller share. Coal dispatch also recorded notable growth, rising by over 7 percent year-on-year.

The Punjab government has unveiled plans to establish three large-scale exhibition centres aimed at strengthening the state’s industrial and commercial ecosystem. The proposed facilities will be developed in Ludhiana, New Chandigarh, and Amritsar, providing businesses with modern venues to showcase products, attract investors, and promote trade opportunities. The initiative was announced during discussions with industry leaders at the Progressive Punjab Investment Summit, where policymakers and entrepreneurs examined key economic challenges and opportunities in the state.