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Highlights of June 2nd Week Current Affairs
- The University of Liverpool received approval to establish a branch campus in Bengaluru, becoming the latest foreign university to enter India.
- The RBI’s Monetary Policy Committee kept the repo rate unchanged at 5.25% while revising growth projections downward and inflation forecasts upward.
- RBI projects India’s GDP growth at 6.6% for FY 2026–27 and CPI inflation at 5.1%, citing global uncertainties and inflationary pressures.
- India recorded a strong GDP growth of 7.7% in FY 2025–26, driven mainly by manufacturing, services, consumption, and investment.
- The manufacturing sector grew by 10.7%, while the services sector expanded by 11%, contributing significantly to economic growth.
- India has exempted foreign investors from capital gains and withholding taxes on government bond investments from April 2026.
- The tax relief aims to attract foreign capital, deepen the bond market, and strengthen the Indian rupee.
- Surha Tal in Uttar Pradesh was declared India’s 100th Ramsar Site, marking a major milestone in wetland conservation.
- Surha Tal, a natural oxbow lake near the Ganga–Ghaghara confluence, is known for its rich bird and wetland biodiversity.
- India continues to promote higher education internationalisation through NEP 2020, foreign university campuses, and global academic collaborations.
- India and Venezuela strengthened ties with discussions on energy, mining, pharmaceuticals, agriculture, and critical minerals cooperation.
- Venezuela remains an important energy partner for India, possessing the world’s largest proven crude oil reserves of about 303 billion barrels.
- The Supreme Court (Number of Judges) Amendment Ordinance, 2026 has revived concerns over excessive use of ordinance-making powers by the Executive.
- An Ordinance is a temporary law issued by the President under Article 123 when Parliament is not in session and urgent action is needed.
- The Supreme Court has repeatedly held that ordinances are emergency measures and cannot replace the normal legislative process.
- India announced reforms to deepen the Government Securities (G-Sec) market and attract greater foreign investment.
- Foreign investors are now exempt from interest income tax and capital gains tax on investments in government securities.
- The Fully Accessible Route (FAR) has been expanded to include long-term government securities and sovereign green bonds.
- India’s first quantum-safe cryptographic algorithm, Ci2, received C-SAFE recognition, marking a milestone in post-quantum cybersecurity.
- The 14th Dalai Lama, Tenzin Gyatso, won the 2026 Grammy Award in the Best Audiobook, Narration, and Storytelling Recording category for Meditations.
- The Supreme Court released draft regulations for AI use in courts, ensuring AI remains only an assistive tool under human judicial supervision.
- The draft rules prohibit AI-based sentencing, bail decisions, risk profiling, and the use of non-transparent “black-box” AI systems.
- The Supreme Court sought a readiness report from the Centre, CBSE, and NCERT for implementing the Three-Language Formula in Class 9 from July 2026.
- The Three-Language Formula aims to promote multilingualism, national integration, and preservation of regional languages.
- India is accelerating Ease of Doing Business reforms through digital governance, compliance reduction, and trust-based regulation.
- The government has rolled out E85 fuel at selected OMC outlets to support flex-fuel vehicles and boost ethanol-based clean energy.
- E85 contains about 80–85% ethanol and can significantly reduce greenhouse gas and particulate emissions.
- RBI will bear the full hedging cost on fresh FCNR(B) deposits until September 2026 to attract NRI dollar deposits and support the rupee.
- Microsoft’s Majorana 2 quantum chip uses topological qubits and longer coherence times, advancing fault-tolerant quantum computing.
- The Zojila Tunnel achieved its final breakthrough, paving the way for all-weather connectivity between Kashmir and Ladakh while improving strategic mobility.
- Kerala’s proposed Project Menstrual Dignity has renewed focus on menstrual health, hygiene, and menstrual leave policies in India.
- Use of hygienic menstrual products among women aged 15–24 has increased to 79.2%, though major rural and economic disparities remain.
- The concept of granting legal personhood to rivers, forests, and ecosystems is gaining attention as a rights-based approach to environmental protection.
- New Zealand and Ecuador are leading global examples of recognising legal rights for nature and ecosystems.
- SIPRI Yearbook 2026 reported global military spending reached a record $2.9 trillion in 2025, marking the 11th consecutive year of growth.
- India ranked as the world’s fifth-largest military spender, with defence expenditure rising to about $92.1 billion.
- The Istanbul Platform was launched to promote zero-waste solutions and strengthen climate action ahead of COP31.
- India–Bangladesh relations face challenges due to trade disputes, visa restrictions, water-sharing concerns, and political changes in Dhaka.
- A powerful earthquake near Mindanao highlighted the Philippines’ vulnerability to seismic activity because of its location on the Pacific Ring of Fire.
- The Sea of Azov remains strategically important in the Russia–Ukraine conflict as a key maritime route connected to the Black Sea through the Kerch Strait.
- Birsa Munda, known as “Dharti Aaba,” led the Ulgulan movement against British rule and tribal exploitation in the Chotanagpur region.
- His struggle led to the Chotanagpur Tenancy Act, 1908, which protected tribal land rights from transfer to non-tribals.
- The Election Symbols Order, 1968 regulates the allotment and reservation of election symbols by the Election Commission of India.
- Education is a Concurrent List subject, making higher education a key area of Centre–State cooperation and conflict.
- India received a record $110.47 billion in remittances during FY 2025–26, strengthening foreign exchange reserves and external stability.
- Remittances remain a vital support for India’s Balance of Payments, though dependence on overseas labour markets poses long-term risks.
- The Assam Blue Valley Cluster was launched with EU support to promote bioeconomy sectors such as AYUSH, herbal products, and biodiversity-based industries.
- The SAPLING Dialogue 2026 focused on improving food processing, nutrition, and agricultural value chains across South Asia.
- VINIMAY was launched as a digital platform to streamline cargo, passenger, and vehicle movement at India’s land ports.
- The first Made-in-India C-295 military transport aircraft successfully completed its maiden flight, marking a major boost for indigenous defence manufacturing.
- India’s Total Fertility Rate has declined to 2.0, falling below the replacement level of 2.1 and indicating population stabilization.
- Lower fertility rates may lead to an ageing population, labour shortages in some states, and future demographic challenges.
- Nepal remains strategically important for India as a buffer between India and China and a key partner in connectivity and energy cooperation.
- India and Nepal are expanding collaboration in hydropower, with plans to import 10,000 MW of electricity from Nepal over the next decade.
- The National SC-ST Hub (NSSH) Scheme supports SC/ST entrepreneurs through finance, skill development, market access, and procurement opportunities.
- NSSH aims to increase participation of SC/ST-owned enterprises in government procurement and formal economic activities.
- The Sangeet Natak Akademi Ratna is the highest honour in India’s performing arts sector, carrying a cash award of ₹3 lakh.
- Sangeet Natak Akademi has also selected artists for its annual awards and the Ustad Bismillah Khan Yuva Puraskar.
- Rail projects such as the Raxaul–Kathmandu Railway are expected to improve India–Nepal trade, tourism, and regional connectivity.
- The Sangeet Natak Akademi, established in 1953, is India’s apex institution for promoting music, dance, drama, and cultural heritage.
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8 to 14 June 2026 (Weekly Current Affairs Quiz)