News In Short 20-03-2026

South Pars and Ras Laffan 

Syllabus: GS1/Geography

Context

• Recent attacks on South Pars and Ras Laffan have heightened tensions in the Persian Gulf and raised global energy security concerns.

About South Pars Gas Field

• Located in the Persian Gulf, off Iran’s southern coast.
• Part of the world’s largest natural gas field, shared with Qatar (called North Dome on the Qatari side).
• Accounts for around 70% of Iran’s natural gas production.

About Ras Laffan Industrial City

• Located in Qatar, on the Persian Gulf coast.
• One of the world’s largest LNG (Liquefied Natural Gas) export hubs. Under normal conditions, about one-fifth of the world’s LNG exports come from this single complex.

Source: IE

Resilience & Logistics Intervention for Export Facilitation (RELIEF) Scheme

Syllabus: GS2/ International Relations

In News

• The Centre has launched the RELIEF Scheme to support exporters affected by disruptions due to the West Asia crisis.

About

• The scheme provides credit insurance cover (financial protection against export losses) to exporters whose shipments are stuck or at risk.
• It ensures insurance premiums at pre-conflict rates, reducing financial burden, with a focus on MSMEs (Micro, Small and Medium Enterprises).
• Implemented through Export Credit Guarantee Corporation of India (ECGC), offering up to 95–100% loss coverage against war and political risks.

Export Credit Guarantee Corporation of India

• ECGC Ltd. is wholly owned by the Government of India, it was set up in 1957.
• Objective:  Promoting exports from the country by providing Credit Risk Insurance.
• It functions under the administrative control of the Ministry of Commerce & Industry. 

Source: TH

Small Hydro Power Development Scheme

Syllabus: GS3/ Infrastructure

In News

• The Union Cabinet has approved the Small Hydro Power Development Scheme for 2026–31 to boost clean energy (low-emission renewable power) and rural development.

About Small Hydro Power (SHP)

Key Features

• Duration & Capacity: FY 2026–27 to 2030–31 with ₹2,584.6 crore outlay to develop ~1500 MW capacity.
• Investment & Employment: Expected to attract ₹15,000 crore investment and generate ~51 lakh person-days of employment, especially in NE and hilly regions.
• Financial Assistance:
  • NE & Border Areas: ₹3.6 crore/MW or 30% cost (max ₹30 crore/project).
  • Other States: ₹2.4 crore/MW or 20% cost (max ₹20 crore/project).

Source: TH

World Happiness Report 2026

Syllabus: Miscellaneous

Context

• The World Happiness Report 2026 highlights that heavy social media use is adversely affecting the well-being of young people across many countries.

About

• The annual report is published by the University of Oxford’s Wellbeing Research Centre in partnership with Gallup, and the UN Sustainable Development Solutions Network.
• Six factors for evaluation of happiness ranking:
  • GDP per capita,
  • Life expectancy,
  • Social support,
  • Freedom to make life choices,
  • Generosity,
  • Perceptions of corruption.
• Top 3: Finland (1st, since 2018), Iceland (2nd), and Denmark (3rd).
• Bottom 3: Malawi (145th), Sierra Leone (146th), and Afghanistan (147th).
• India: Ranked 116th (improved from 118th in 2025).

Do you know? 

• The 2026 rankings mark the second year in a row that none of the English-speaking countries appear in the top 10. The United States is at 23rd place, Canada is at 25th and Britain at 29th.

Source: IE