Today’s Top Stories
1. RBI MPC Holds Repo Rate at 5.25% — First Decision of FY27
The RBI’s Monetary Policy Committee, chaired by Governor Sanjay Malhotra, kept the repo rate unchanged at 5.25% with a neutral stance in its first meeting of FY 2026-27. The pause comes after 125 basis points of cumulative cuts since February 2025 — the most aggressive easing cycle since 2019. Decision driven by US-Israel-Iran conflict spillover, energy shock, and rupee pressure (~Rs 95/$).
2. Sabarimala Review — 9-Judge Constitution Bench Begins Hearing
A 9-judge Constitution Bench led by CJI Surya Kant began hearing the Sabarimala review case on April 7, revisiting the 2018 Indian Young Lawyers Association v. State of Kerala verdict that allowed women aged 10-50 entry to the temple. The bench will hear review petitioners (April 7-9), opposing parties (April 16-17), and rejoinder (April 21). Touches Articles 25, 26 (freedom of religion) and Article 14 (equality).
3. PFBR Kalpakkam Achieves First Criticality — Stage 2 Nuclear Milestone
India’s Prototype Fast Breeder Reactor (PFBR) at Kalpakkam achieved first criticality, marking entry into the second stage of India’s three-stage nuclear programme. The 500 MWe sodium-cooled reactor uses Mixed Oxide (MOX) fuel of uranium-238 and plutonium-239. Built by BHAVINI, it makes India only the second country after Russia to operate a commercial-scale fast breeder reactor.
4. Cabinet Approves Small Hydro Power Scheme — Rs 2,584 Crore
The Union Cabinet approved the Small Hydro Power (SHP) Development Scheme for FY 2026-27 to FY 2030-31 with an outlay of Rs 2,584.60 crore and a target of 1,500 MW capacity. NE States and border districts get higher central financial assistance: Rs 3.6 crore/MW or 30% of cost (max Rs 30 crore/project) vs Rs 2.4 crore/MW or 20% for other states.
5. NITI Aayog Releases Blue Economy Strategy for Deep-Sea Fisheries
NITI Aayog released “India’s Blue Economy: Strategy for Harnessing Deep-Sea and Offshore Fisheries” — a phased framework (Phase 1: 2025-28, Phase 2: 2029-32, Phase 3: 2033+) to develop fishing in India’s EEZ and international waters. Key facts: India is the world’s 2nd-largest fish producer (8% global output); seafood exports Rs 62,408 crore in FY24-25; coastline 11,099 km; EEZ 24 lakh sq km.
6. TV Rating Policy (TRP) 2026 Notified
The Ministry of Information and Broadcasting notified the new TRP Policy 2026, replacing 2014 guidelines. Key changes: 50% independent directors required on rating agency boards; net worth threshold cut from Rs 20 crore to Rs 5 crore; sample size to scale to 80,000 metered homes in 18 months (target: 1.20 lakh); landing-page viewership excluded from measurements.
7. Moody’s Cuts India FY27 GDP Forecast to 6%
Moody’s Ratings lowered India’s FY27 GDP growth projection by 80 bps to 6.0% (from 6.8%), citing the West Asia conflict’s impact on energy prices. Inflation forecast revised to 4.8% for FY27 (vs 2.4% in FY26). CAD estimate: 1-1.5% of GDP for CY26 and CY27.
8. FAO Food Price Index — March 2026 Update
The FAO Food Price Index averaged 128.5 points in March 2026 — up 2.4% month-on-month, the second consecutive monthly increase. Vegetable oil prices jumped 5.1% (highest since June 2022); sugar prices rose 7.2% on Brazilian ethanol-crude oil linkage. India expected to hit record wheat production.
9. World Health Day 2026 (April 7)
World Health Day, observed annually on April 7 since 1950, marks the founding of WHO in 1948. The 2026 observance focuses on health equity and climate-health linkages. WHO HQ: Geneva; DG: Tedros Adhanom Ghebreyesus. India is a founding member.
10. India-Russia IRIGC-TEC Meeting in Delhi
Denis Manturov, First Deputy PM of Russia, visited India April 2-3 and co-chaired the IRIGC-TEC (Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation) with EAM S. Jaishankar. Discussions covered trade, energy, fertilizers, connectivity, and critical minerals — building on the December 2025 23rd India-Russia Annual Summit.
