Daily Current Affairs – March 12, 2026

Escalating oil prices due to the Iran war pose a significant threat to India's economy. With nearly 90% of crude imported, sustained high oil costs could widen the current account deficit, weaken the rupee, and fuel inflation. Government finances may also face pressure from increased subsidies, potentially impacting infrastructure spending and economic growth.

The US has launched a trade investigation into excess industrial capacity in 16 countries, including India, under Section 301 of its Trade Act. This probe could lead to new tariffs as the US claims overproduction by trading partners displaces American manufacturing and hinders investment. Evidence suggests significant excess capacity in India's petrochemicals, steel, and solar module sectors.

It is also learnt that the FMSCI has offered to facilitate a meeting between Mr. Mandaviya and the Formula One management, which is headed by former Ferrari team boss Stefano Domenicali

Tensions flared in the Rajya Sabha after an alleged attempt on former Jammu and Kashmir Chief Minister Farooq Abdullah’s life. Opposition leader Mallikarjun Kharge questioned the government on security lapses, while Union Minister J.P. Nadda assured a full investigation.

At least 7 dead in Beirut as Israel launches fresh wave of strikes after attack by Hezbollah, IRGC

The government of Prime Minister Tarique Rahman, leader of the Bangladesh Nationalist Party, took over after February 12 elections

Shares of Indian power companies rose sharply as early summer heat pushed electricity demand higher. Limited solar output and supply constraints from LNG and hydro plants boosted thermal generation. Temperatures across key cities have been above normal. Rajkot in Gujarat recorded 42°C on Tuesday, the highest so far this year.

Corporate India faces a margin headwind in FY27, with Crisil Intelligence forecasting a 50 basis point shrinkage due to rising crude and gas prices. Sectors with dual exposure to revenue and cost risks, like ceramic tiles and airlines, are most vulnerable. The duration of West Asia tensions will significantly determine the extent of margin erosion.

The Centre plans to introduce a 12-16% incentive for investments in construction equipment manufacturing such as cranes, tunnelling machines. Will it cut dependence on China, Japan and European countries?

Morbi, India's ceramic hub, is on the brink of closure due to disrupted gas supplies from West Asia. With 400 factories at risk and thousands of jobs hanging in the balance, the geopolitical crisis threatens to unravel a $7 billion industry, reminiscent of the COVID-19 crisis.

South Africa's remaining 29 members and the West Indies’ final 16 members have departed on flights to their respective homelands, said the ICC

Draper will take on 11th-seeded Russian Daniil Medvedev for a place in the semifinals