Monthly current affairs for May 2026

The Union Government has signed reform-linked MoUs with the Union Territory (UT) of Andaman & Nicobar Islands and the State of West Bengal under the Jal Jeevan Mission (JJM) 2.0.

The agreements mark a strategic transition in the national focus from initial infrastructure creation towards ensuring long-term sustainability, service delivery, and local accountability.

Yoweri Museveni, belonging to the National Resistance Movement (NRM) party, has sworn in as the President of Uganda for the seventh term.

The Cabinet Committee on Economic Affairs (CCEA) has approved an increase in the Minimum Support Price (MSP) for 14 Kharif crops for the 2026-27 marketing season. The highest absolute increases in MSP compared to the previous year were for sunflower seeds (₹622 per quintal), cotton (₹557 per quintal), and sesamum (₹500 per quintal).

Among major food grains, the MSP for common paddy has been raised to ₹2,441 per quintal (an increase of ₹72), while the rate for Grade A paddy is set at ₹2,461 per quintal.

CJI Surya Kant has launched the 'One Case One Data' initiative to improve data integration and transparency across all levels of the judiciary. He also introduced 'Su Sahay', an AI powered judicial assistance chatbot designed to enhance efficiency in the management of court cases.

CTBC Bank Co Ltd has inaugurated a new branch at the GIFT City in Gandhinagar, Gujarat, becoming the first Taiwanese bank to establish a presence in the International Financial Services Centre (IFSC) of India.

It is to be noted that the bank has been operating in India for 30 years and has existing branches in New Delhi and Chennai.

The Department of Financial Services (DFS) under the Ministry of Finance (MoF) has launched the “Bharat Maritime Insurance Pool” (BMIP) in New Delhi. The BMIP is established with a total value of $1.5 billion, which includes a sovereign guarantee of $1.4 billion (₹12,980 crore).

The initiative aims to reduce the heavy reliance of Indian vessels on foreign International Group (IG) Protection and Indemnity (P&I) Clubs for third-party liability coverage.

Digital Bharat Nidhi (DBN) under the Department of Telecommunications (DoT) has signed an agreement with the Andhra Pradesh government to implement the Amended BharatNet Programme (ABP) through a state-led model.

The Government of India has allocated ₹2,432 crore for the implementation of the programme in the state, which will be managed by the AP State Fibernet Ltd (APBIL). The objective of the ABP is to upgrade and expand the BharatNet infrastructure to provide reliable, future-ready broadband connectivity to all Gram Panchayats (GPs) and villages on a demand basis.

The Delhi Metro Rail Corporation (DMRC) has partnered with Airtel Payments Bank to launch co-branded RuPay ‘On-The-Go’ National Common Mobility Cards (NCMC) to facilitate seamless digital payments and integrated metro travel across various transit systems in India.

Dr Harvansh Chawla has been appointed as the Chairman of the BRISEC Chamber of Commerce & Industry (BRISEC CCI). He previously served as the Chairman of the BRICS (Brazil, Russia, India, China, and South Africa) Chamber of Commerce & Industry (BRICS CCI).

It is to be noted that the BRISEC CCI was established in 2026 and is recognized by NITI Aayog.

The Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs (MHA) has signed an MoU with the Reserve Bank Innovation Hub (RBIH) to enhance the detection of mule accounts and to mitigate cyber financial frauds using AI based technologies. It is to be noted that the RBIH is a subsidiary of the RBI.

The Karnataka government has implemented an “Alcohol-in-Beverage” (AIB)-based excise duty structure and revised the liquor rates. It is the first instance of such a taxation model being implemented in India, following the 2026-27 Budget announcement. The State Excise Department aims to rationalize liquor pricing to make beverages more affordable for consumers.

According to the Periodic Labour Force Survey (PLFS) Quarterly Bulletin for Q4 FY26 (January to March 2026) released by the National Statistical Office (NSO), the urban unemployment rate (UR) for persons aged 15 and above decreased to 6.6%, compared to 6.7% in the previous quarter.

The aggregate Labour Force Participation Rate (LFPR) for persons aged 15 and above is estimated at 55.5%. In rural regions, the LFPR for the 15+ age group stood at 58.2%, compared to 58.4% in the October-December 2025 period. The urban LFPR for the same demographic was reported at 50.2% in Q4 FY26, representing a decrease from the 50.4% observed in the prior quarter.

PM Narendra Modi has participated in the 45th anniversary celebrations of The Art of Living and the 70th birthday celebrations of Gurudev Ravi Shankar in Bengaluru. During the visit, the PM inaugurated the newly constructed “Dhyan Mandir” at the Art of Living International Centre.

The Punjab government has launched the ‘Meri Rasoi Yojna’ (My Kitchen Scheme) in Sangrur district to provide free food kits to 40 lakh economically weaker families. The initiative is implemented as per the provisions of the National Food Security Act (NFSA), 2013.

Each food kit contains 2 kg of moong-chana dal, 2 kg of sugar, 1 kg of iodised salt, 200 g of turmeric, and 1 litre of mustard oil. The beneficiary families will receive these kits on a quarterly basis (once every three months).

R Mukundan has been elected as the President of the Confederation of Indian Industry (CII) for the 2026-27 term. He succeeds Rajiv Memani.

It is to be noted that the newly constituted National Council of the CII has also appointed Suchitra Ella as the President-Designate and Shashwat Goenka as the Vice President for the same term.

The All India Football Federation (AIFF) has renewed its strategic partnership with the Department of Sports and Youth Services (DSYS) of the Government of Odisha by signing a 5-year MoU.

The agreement builds upon the initial collaboration established in 2023. The partnership aims to expand elite youth football and solidify the position of Odisha as the premier football hub in India.

Akash Ambani has been appointed as the first MD of Jio Platforms Ltd (JPL), the digital services subsidiary of Reliance Industries Ltd (RIL), for a period of 5 years.

Union Minister Rajnath Singh and Andhra Pradesh CM N Chandrababu Naidu have laid the foundation stone for an infrastructure project to develop the Advanced Medium Combat Aircraft (AMCA) in Sri Sathya Sai, Andhra Pradesh. They also inaugurated a core integration and flight testing centre at Puttaparthi to accelerate the development of the 5th-generation AMCA and other future indigenous platforms.

Additionally, the foundation stone for a naval systems manufacturing facility to support advanced underwater weapons and naval combat systems was laid. The AMCA facility is being established at an estimated cost of ₹2,000 crore, while the total expenditure for the AMCA development programme is projected at approximately ₹15,000 crore.

According to the report by the Ministry of Commerce and Industry, the total exports of India, including both merchandise and services, are estimated at $80.80 billion for April 2026, reflecting a growth of 13.59% compared to $71.13 billion in April 2025. Merchandise exports rose by 13.78% to $43.56 billion from $38.28 billion in the previous year.

Union Minister Dharmendra Pradhan has inaugurated the first Integrated Carbon Capture, Utilisation and Storage (CCUS) field laboratory facility in India at the IIT Bombay.

The facility is established under the ‘Bharat Innovates 2026’ initiative to advance research and development in carbon management. It is to be noted that the CCUS technology used in the laboratory is being promoted by UrjanovaC.