Reports and Indices: January to March 2026
1. Multidimensional Poverty Index (UNDP/OPHI, January 2026)
The MPI measures poverty across three dimensions (health, education, standard of living) and ten indicators (nutrition, child mortality, years of schooling, school attendance, cooking fuel, sanitation, drinking water, electricity, housing, assets). A person is MPI-poor if they are deprived in at least one-third of the weighted indicators.
India-specific findings: 135 million Indians exited multidimensional poverty between 2015-16 and 2022-23. The MPI value declined from 0.117 to 0.056. The MPI headcount ratio declined from 24.8% to 11.2%. The fastest declines were in Bihar, Jharkhand, and Uttar Pradesh , states that were the poorest at baseline.
This means India is on track to achieve SDG Target 1.2 (halve the proportion of men, women, and children living in poverty in all its dimensions by 2030). This finding was widely cited in the Budget speech and in India's Voluntary National Review at the UN.
2. ASER (Annual Status of Education Report, January 2026)
ASER is India's largest citizen-led survey of children's learning outcomes, conducted annually by the NGO Pratham. The 2025 survey (released January 2026) covered 600,000 children across 18,000 villages.
Key findings:
| Indicator | 2018 (pre-COVID) | 2022 | 2025 |
|---|---|---|---|
| Class 5: Can read Class 2 text | 50.3% | 42.8% | 48.1% |
| Class 5: Can do division | 27.9% | 25.6% | 29.3% |
| Class 8: Can read Class 2 text | 73.0% | 69.8% | 71.2% |
| Class 8: Can do division | 44.1% | 44.7% | 46.8% |
The learning loss from COVID school closures has been substantially recovered, but has not returned to 2018 levels. The recovery has been faster in states that invested in remedial education (Tamil Nadu's Illam Thedi Kalvi, UP's Mission Prerna). Digital device access has improved: 89% of enrolled children have access to a smartphone at home (up from 56% in 2018). However, only 31% use it for educational purposes.
3. RBI Financial Stability Report (January 2026)
The FSR is the RBI's biannual assessment of the Indian financial system's health. The January 2026 report was notable for its focus on climate risk in the banking system.
Key findings:
- Gross NPAs: 3.0% (September 2025), projected to decline to 2.6% by March 2026 under the baseline scenario. Under a severe stress scenario, GNPA could rise to 4.2%
- Capital adequacy: 16.9%, well above the regulatory minimum of 11.5% for scheduled commercial banks
- Climate stress test: The RBI conducted its first-ever climate stress test. Banks' exposure to carbon-intensive sectors (power generation, steel, cement, petroleum, chemicals) was 22% of total loans. Under a "disorderly transition" scenario (rapid, unanticipated tightening of climate policy), 8% of these loans could become NPAs
- Fintech sector: Digital lending through fintech platforms grew 48% year-on-year. The RBI flagged concerns about inadequate KYC compliance, aggressive recovery practices, and the blurring of the line between balance sheet lending and platform-based lending
4. Other reports this quarter
| Report | Released By | Date | Key Finding | Prelims Fact |
|---|---|---|---|---|
| Economic Survey 2025-26 | Ministry of Finance | January 2026 | GDP growth projected at 6.5-7.0% for 2026-27. Theme: "From Recovery to Resilience." Special chapter on the care economy and women's unpaid labour | Economic Survey is presented a day before the Budget. Written by the Chief Economic Adviser |
| WMO State of the Global Climate | World Meteorological Organization | March 2026 | 2025 was the second-warmest year on record (1.28°C above pre-industrial levels). 2024 was the warmest (1.32°C). The 10 warmest years on record have all occurred since 2015 | WMO. IPCC. 1.5°C target. Paris Agreement |
| Henley Passport Index | Henley & Partners | January 2026 | India's passport ranked 80th, with visa-free access to 58 countries. Singapore ranked 1st with access to 195 countries. India's rank improved from 85th in 2024 | Henley Passport Index. Measures visa-free access. Not a UN index |