Daily Current Affairs 5 June 2026

The Union Cabinet has approved a ₹10,000 crore Price Stabilization Fund to support scheduled Indian airlines against rising Aviation Turbine Fuel (ATF) prices. Under this 36-month scheme, the government will provide a ₹10,000 crore interest-free advance to Oil Marketing Companies (OMCs) to cover under-recoveries.

The initiative caps the ATF sale price at ₹115 per litre, with the government compensating OMCs for any losses. The advanced funds will be recovered from OMCs once global prices stabilize and return to the Consolidated Fund of India.

The Cabinet Committee on Economic Affairs (CCEA) has approved highway infrastructure projects in Madhya Pradesh and Bihar.

In Madhya Pradesh, the CCEA approved the upgradation of the Hiwarkhedi-Roshni-Ashapur-Rudhy section of NH-347B (125.01 km) to a 2-lane standard with paved shoulders, and the widening of the Deshgaon-Julwaniya section of NH-347B (108.643 km) to a 4-lane standard. These projects will be implemented under the Hybrid Annuity Mode (HAM) at a cost of ₹4,415.60 crore.

In Bihar, the CCEA approved the upgradation of the Khagaria-Purnea section of NH-31 and NH-231 to a 4-lane standard, covering a length of 143.529 km. This project will be executed under the Build-Operate-Transfer (BOT) (Toll) mode at a cost of ₹3,936.05 crore.

The Cabinet Committee on Economic Affairs (CCEA) has approved the 4-laning of the Armoor-Jagtial-Mancherial section of National Highway (NH)-63 and the Jagtial-Karimnagar section of NH-563. These projects, spanning a total length of 190.76 km, will be developed at an estimated cost of ₹7,597 crore.

Additionally, the CCEA has sanctioned the construction of a new coastal highway connecting Rameshwar to Paradeep in Odisha. The project, spanning 160.18 km, will be implemented at an estimated cost of ₹8,300 crore.

The Cabinet Committee on Economic Affairs (CCEA) has approved the ‘SARTHAK-PDS’ (Scheme for Assistance in Ration Transport and Handling-Income with Automation in PDS) umbrella scheme with a central outlay of ₹25,530 crore.

The program will be implemented for 5 years from April 2026 to March 2031, aiming to modernize the food subsidy network and benefit citizens covered under the National Food Security Act (NFSA).

The scheme integrates two legacy programs: the ‘Assistance to State Agencies for intra-State movement of foodgrains and Fair Price Shop (FPS) dealers' margin under NFSA’ and the ‘Scheme for Modernization and Reforms through Technology in Public Distribution System (SMART PDS)’. This integration aims to reduce leakages and streamline operations.

Union Minister Ashwini Vaishnaw has announced the ‘Clean Mobility Scheme’ with a financial outlay of ₹9,585 crore to replace old trucks and buses in the Delhi-National Capital Region (NCR). This 2-year fleet modernization initiative aims to reduce vehicular emissions and winter air pollution in the region.

The scheme is funded by the National Capital Region Planning Board (NCRPB) under the Ministry of Housing and Urban Affairs (MoHUA) and will be implemented by the Ministry of Road Transport and Highways (MoRTH) and the Ministry of Petroleum and Natural Gas (MoPNG). It involves a central share of ₹5,041 crore and ₹1,601 crore in tax concessions from participating states.

The scheme targets the modernization of 2.07 lakh older commercial vehicles registered across Delhi, Haryana, Rajasthan, and Uttar Pradesh. To encourage participation, the government offers a 5% interest subsidy on vehicle loans and monthly fuel vouchers worth up to ₹4,800 provided by Oil Marketing Companies (OMCs).

Indian Railways (IR) has inaugurated a Centre of Excellence (CoE) named “CHIRAG” (Centre for HR Information Systems, Research and Analytics in Governance) at the South Central Railway (SCR) grounds in Secunderabad, Telangana.

The centre is dedicated to human resource management training, research, and digital transformation within IR. It aims to serve as the technological backbone for the Human Resource Management System (HRMS) by providing nationwide certified, role-based training. The project is scheduled for full completion by May 2028.

Union Minister Bhupendra Yadav and Madhya Pradesh CM Mohan Yadav have inaugurated the International Big Cat Alliance (IBCA) Pre-Summit at the Indian Institute of Forest Management (IIFM) in Bhopal. The summit was held on the occasion of the International Day for Biological Diversity, observed on May 22.

To promote biodiversity conservation, the MP Forest Department, with support from the Housing and Urban Development Corporation Ltd (HUDCO), flagged off 20 motorcycles and a rescue truck.

The Agricultural and Processed Food Products Export Development Authority (APEDA) has facilitated the first-ever sea shipment of botanical-infused ready-to-cook millet functional foods from Karnataka to New Zealand.

This initiative is expected to boost the agri-food exports of India, increase the income of farmers, and strengthen the agri-export ecosystem.

The Development Bank of Japan (DBJ) has partnered with HDFC Capital Advisors Ltd (HDFC Capital) to invest in real estate funds for affordable and mid-income housing in India. This marks the first-ever real estate investment by the DBJ in India.

The partnership aims for a total targeted corpus of $1 billion. Under this collaboration, the DBJ has pledged capital to the HDFC Capital Development of Real Estate Affordable and Mid-Income Fund (H-DREAM Fund), which is managed by HDFC Capital. The H-DREAM Fund has a target corpus of $500 million, with an additional $500 million green shoe option.

Karur Vysya Bank (KVB) has launched 4 new premium credit card portfolios on the Visa platform.

The portfolios are Aura (Visa Platinum), Samara (Visa Signature), Altura (Visa Infinite), and Eternis (Visa Infinite). This launch is part of the strategy of the bank to strengthen its offerings for affluent and lifestyle-focused customers.

NPCI International Payments Ltd (NIPL) has partnered with ACLEDA Bank Plc to facilitate the acceptance of the UPI in Cambodia.

With this, Cambodia has become the 9th international destination to integrate the Indian UPI system. The other countries where UPI is enabled include Singapore, the UAE, France, Mauritius, Nepal, Bhutan, Qatar, and Sri Lanka.

The National Institute of Securities Markets (NISM) has partnered with Galgotias University in Uttar Pradesh to enhance professional learning in sectors like securities markets, financial services, derivatives, fintech, and risk management.

Rail India Technical and Economic Service (RITES) Ltd has signed an MoU with Credit Rating Information Services of India Ltd (CRISIL) to jointly develop data-driven infrastructure consultancy solutions across multiple sectors in India and overseas.

The Tamil Nadu government has signed an MoU with Larsen & Toubro (L&T) for investments worth ₹18,600 crore.

The agreement covers 3 projects: a Hyperscale and Edge AI Data Centre in Kancheepuram (₹15,000 crore), an Electronics and Electrical Systems Manufacturing Hub in Coimbatore (₹2,500 crore), and an Offshore Wind Infrastructure and Shipyard Expansion in Kattupalli, Tiruvallur (₹1,100 crore).

Google and UNICEF have announced a 3-year global partnership at the Education World Forum (EWF) 2026 to deploy AI-powered education tools and digital learning resources for students and educators.

The initiative aims to bridge the digital divide and strengthen foundational skills such as reading, comprehension, and numeracy. The project will be implemented in Brazil, India, Kenya, and Pakistan, in collaboration with national governments and local communities.

The Government of India has signed an agreement to export BrahMos missiles to Vietnam in a deal valued at ₹6,000 crore ($629 million).

This agreement strengthens bilateral defence and strategic cooperation between the countries. Vietnam is the second overseas buyer of the BrahMos missile system, after the Philippines.

The Chandrayaan-2 spacecraft, orbiting the Moon since 2019, has provided evidence of subsurface water ice deposits within the permanently shadowed regions (PSRs) of lunar south polar craters. This study, conducted by the Physical Research Laboratory (PRL) in Ahmedabad, was published in the Nature Portfolio Journal (NPJ) Space Exploration.

Researchers utilized the Dual-Frequency Synthetic Aperture Radar (DFSAR) to analyze ‘doubly shadowed craters’ within the PSRs. The findings from a 1.1 km crater in the Faustini Basin indicate an impact into an ice-rich subsurface that briefly flowed before refreezing.

DK Shivakumar has been sworn in as the 25th Chief Minister (CM) of Karnataka, with the oath of office and secrecy administered by Governor Thaawarchand Gehlot.

He succeeds Siddaramaiah, who resigned from the position following a planned power-sharing arrangement. Dr G Parameshwara has been sworn in as the Deputy CM of Karnataka.

The central government has notified two Special Economic Zones (SEZs) in the UT of Puducherry, with a total proposed investment of ₹1,975 crore. These include an IT/ITES SEZ and a Multi-Sector SEZ.

The IT/ITES SEZ is being developed by the Oulgaret Municipality at Thattanchavady village in Oulgaret Taluk, making it the first SEZ project in India to be developed by a municipality. The Multi-Sector SEZ is being developed by the Pondicherry Industrial Promotion Development and Investment Corporation (PIPDIC) at Karasur village in Villianur Taluk.

The West Bengal government has started the enrolment for the ‘Annapurna Yojana’, also known as the ‘Annapurna Bhandar’ scheme.

The scheme aims to empower women and support households by providing monthly financial assistance to eligible women (aged 25-60) who do not have a fixed income, government salary, or pension.

Rajesh Kumar Singh, the Defence Secretary at the Ministry of Defence, has been given the additional charge of Secretary of the Department of Defence Research and Development (DDR&D) and Chairman of the DRDO. He succeeds Dr. Samir V Kamat in these roles.

India has secured the hosting rights for the 2027 Asian Relay Championships and the 2028 Asian Indoor Athletics Championships, marking the first time both events will be hosted in India.

The decision was finalized by the Asian Athletics Association (AAA) during an executive council meeting in Hong Kong, chaired by Dahlan Al Hamad. The 2027 Asian Relay Championships will be held at the Sector 7 Sports Complex in Chandigarh, while the 2028 Asian Indoor Athletics Championships will be hosted at the Kalinga Stadium complex indoor facility in Bhubaneswar, Odisha.

Royal Challengers Bengaluru (RCB) has won the 19th edition of the Indian Premier League (IPL) 2026, defeating Gujarat Titans (GT) by 5 wickets in the final held at the Narendra Modi Stadium, Ahmedabad.

Led by Rajat Patidar, RCB achieved their second consecutive championship, becoming the third franchise in IPL history to defend their title after Chennai Super Kings and Mumbai Indians. The winning team was awarded a prize money of ₹20 crore, while the runner-up received ₹12.5 crore.

Virat Kohli (RCB) was named the Player of the Match in the final and became the first cricketer to complete 9,000 runs in the IPL. Kagiso Rabada of GT claimed the Purple Cap with 29 wickets.

Vaibhav Sooryavanshi of Rajasthan Royals secured the Orange Cap for scoring the most runs (776 runs). He also received Player of the Series, Emerging Player of the Season, Most Valuable Player (MVP), Best Strike Rate Award, Fantasy Player of the Season, and the Most Sixes Award.

International Everest Day:

Day – May 29

Commemorating – First ever Mt Everest summit by Sir Edmund Hillary and Tenzing Norgay in 1953

World Football Day:

Day – 25 May

Observed by – 2024