RELIEF (Resilience Logistics Intervention for Export Facilitation)

♦ The Government approved a new intervention titled RELIEF (Resilience & Logistics Intervention for Export Facilitation) under the Export Promotion Mission (EPM) to support Indian exporters facing disruptions due to the evolving geopolitical situation in West Asia. The move comes amid heightened security concerns around the Strait of Hormuz, which have led to vessel diversions, longer shipping routes, congestion at transshipment hubs, and increased freight and insurance costs.

♦ Under the RELIEF framework, Export Credit Guarantee Corporation of India has been designated as the nodal implementing agency responsible for verification, claim processing, disbursement, and monitoring.

♦ The scheme will cover shipments destined for countries including United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait, Bahrain, Iraq, Iran, Israel and Yemen.

The scheme comprises three key components:

1. Enhanced insurance coverage: Exporters with existing ECGC insurance will receive up to 100% risk coverage for eligible consignments shipped between February 14 and March 15, 2026, without additional cost.

2. Support for upcoming shipments: Exporters planning shipments between March 16 and June 15, 2026, can avail up to 95% risk coverage with government support, helping sustain trade flows.

3. Relief for MSMEs: Small exporters without ECGC cover during the disruption period will be eligible for partial reimbursement of up to 50% of increased freight and insurance costs, subject to a ceiling of ₹50 lakh per exporter.

NMDC Limited

♦ NMDC Limited has become the first mining company in India to produce 50 million tonnes (MT) of iron ore in a single financial year, reaching the landmark days before the close of FY 2025–26.

♦ The state-run miner, a Navratna CPSE under the Ministry of Steel, described the achievement as a key step in strengthening India’s raw material base for its expanding steel sector.

♦ Established in 1958 to develop India’s iron ore resources, NMDC produced around 10 MT in 1978.  

♦ The milestone also reflects a sharp acceleration in the company’s growth in recent years.

♦ Production has increased by nearly two-thirds since 2015, rising from around 30 MT to 50 MT, with almost one-fifth of the current capacity added in the last four years alone — the fastest expansion phase in NMDC’s history.

Indias gross Goods and Services Tax (GST)

♦ India’s gross Goods and Services Tax (GST) collections rose 8.1 percent year-on-year to Rs.1.83 lakh crore in February 2026. With this, total gross GST revenue for the financial year 2025–26 up to 28 February stood at Rs.20.27 lakh crore, marking an 8.3 percent increase over the corresponding period last year (2025). After refunds of Rs.22,595 crore, up 10.2 percent year-on-year, net GST revenue for February was Rs.1.61 lakh crore.

♦ Domestic revenue contributed Rs.1.36 lakh crore, reflecting a 5.3 percent rise, while revenue from imports stood at Rs.47,837 crore, registering a sharper 17.2 percent increase.