1. India–US Critical Minerals and Rare Earths Agreement
Why in News?
India and the United States formalized a framework agreement for cooperation in critical minerals and rare earths on 29 May 2026 in New Delhi. External Affairs Minister Dr. S. Jaishankar and US Secretary of State Marco Rubio signed the deal.
Key Points
The agreement covers mining, processing, recycling of critical minerals, and developing diversified supply chains.
It implements the vision enshrined in the India-US Joint Statement of February 2025.
India formally joined the US-led Pax Silica initiative on 20 February 2026, ahead of this agreement.
Critical minerals include lithium, cobalt, nickel, rare earth elements—essential for electric vehicles, semiconductors, and defence applications.
The deal reduces both nations' dependence on China-dominated mineral supply chains.
India holds significant reserves of rare earth elements, primarily processed through the Indian Rare Earths Limited (IREL).
Static Knowledge
India's critical mineral reserves are mapped under the Geological Survey of India (GSI).
The Indian Rare Earths Limited (IREL) is a Government of India enterprise under the Department of Atomic Energy.
Lithium Triangle (Bolivia, Argentina, Chile) holds ~50% of the world's known lithium reserves.
China controls over 60% of global rare earth processing capacity.
India's National Critical Minerals Mission was announced in the Union Budget 2024-25.
2. Record Foodgrain Production 2025-26 – Third Advance Estimates
Why in News?
The Ministry of Agriculture & Farmers Welfare released the Third Advance Estimates for 2025-26, projecting India's total foodgrain production at an all-time record of 376.563 million tonnes (MT).
Key Points
Total foodgrain production: 376.563 MT — a 5.3% increase over the previous year.
Rice: Record 154.024 MT
Wheat:120.657 MT
Maize: Historic high of 55.093 MT
The Indian Council of Agricultural Research (ICAR) released 339 crop varieties across various agro-climatic regions during this period.
India is among the world's top producers of rice, wheat, and pulses.
Record production improves food security, MSP procurement, and export potential.
Static Knowledge
India's Green Revolution (1960s) transformed it from a food-deficit to a food-surplus nation.
ICAR (Indian Council of Agricultural Research) is headquartered in New Delhi and is the apex body for agricultural research in India.
Minimum Support Price (MSP) is announced by the government for 23 kharif and rabi crops.
National Food Security Act (NFSA) 2013 covers about two-thirds of India's population.
India is the world's second-largest producer of wheat and rice.
3. Advanced Medium Combat Aircraft (AMCA) – RFP Issued
Why in News?
The Ministry of Defence issued a Request for Proposal (RFP) on 27 May 2026 to three private sector consortia for the prototype development of India's Advanced Medium Combat Aircraft (AMCA) with a budget of Rs 15,000 crore.
Key Points
The three shortlisted bidders:
Tata Advanced Systems Limited (TASL)
Larsen & Toubro (L&T) with Bharat Electronics Limited (BEL)
Bharat Forge with Bharat Earth Movers Ltd (BEML)
First prototype expected by 2027; first flight projected for 2028-29
Serial production anticipated to commence in the mid-2030s
AMCA is India's first indigenous 5th-generation stealth fighter aircraft programme.
The programme is led by the Aeronautical Development Agency (ADA) under DRDO with design support from HAL.
AMCA is designed to be a twin-engine, multi-role stealth fighter to replace the aging Jaguar and Mirage-2000 fleets.
4. IAF–IIT Bombay Partnership for Su-30MKI Predictive Maintenance
Why in News?
The Indian Air Force (IAF) signed three contracts with IIT Bombay to develop AI-driven predictive maintenance technologies, including a digital diagnostic health index for the Sukhoi Su-30MKI fighter aircraft fleet.
Key Points
The partnership focuses on predictive, prognostic, and prescriptive maintenance technologies using AI.
The system is expected to improve aircraft availability, reduce maintenance costs, and strengthen mission readiness.
Technology will be developed using fully indigenous expertise at IIT Bombay — aligned with the Atmanirbhar Bharat initiative.
Signing presided over by Air Marshal KAA Sanjeeb, Director General (Aircraft), IAF and Shireesh B Kedare, Director, IIT Bombay.
Su-30MKI: Twin-engine, multi-role fighter aircraft; developed by Sukhoi (Russia) and licence-produced by Hindustan Aeronautics Limited (HAL).
India operates one of the largest fleets of Su-30MKI globally (~260 aircraft).
Static Knowledge
HAL (Hindustan Aeronautics Limited) is headquartered in Bengaluru; a Navratna PSU under Ministry of Defence.
The Su-30MKI is also the platform being upgraded under the Super Sukhoi programme.
IIT Bombay was established in 1958 in Mumbai; it is an Institute of National Importance.
India's Technology Development Fund (TDF) supports indigenous defence technology development.
AI-based defence applications fall under DRDO's mandate for next-generation warfare capabilities.
5. 10th National Health Accounts Estimates for FY23
Why in News?
The Ministry of Health and Family Welfare (MoH&FW) released the 10th National Health Accounts (NHA) Estimates for FY2022-23, revealing a significant increase in government health expenditure.
Key Points
Government Health Expenditure (GHE): Rose from Rs 1.30 lakh crore (2013-14) to Rs 3.85 lakh crore (2022-23).
Total Health Expenditure (THE): Rs 8.81 lakh crore — 3.37% of GDP (base year 2022-23).
The report is prepared by the National Health Accounts Technical Secretariat (NHATS) under National Health Systems Resource Centre (NHSRC), MoH&FW.
Framework used: System of Health Accounts (SHA) 2011 framework.
NHA provides comprehensive insights into sources, scale, and patterns of health expenditure in India.
NHA estimates are used for health policy planning, SDG monitoring, and international comparisons.
Static Knowledge
The National Health Policy 2017 aims to increase government health expenditure to 2.5% of GDP by 2025.
Ayushman Bharat PM-JAY is the world's largest government-funded health insurance scheme.
India's National Health Mission (NHM) covers rural (NRHM) and urban (NUHM) health missions.
NHSRC serves as the technical support organization for the National Health Mission.
Out-of-Pocket Expenditure (OOPE) is a key concern in Indian healthcare financing.
6. Insolvency and Bankruptcy Code (IBC) Completes 10 Years
Why in News?
The Insolvency and Bankruptcy Code (IBC) completed 10 years of implementation on 30 May 2026, marking a landmark decade since its enactment in 2016.
Key Points
IBC was enacted in 2016 as a comprehensive legislation to resolve insolvency of corporates, individuals, and partnership firms.
Overseen by the Insolvency and Bankruptcy Board of India (IBBI).
The code consolidated multiple earlier laws including the Companies Act provisions, SARFAESI Act, RDDBFI Act, and Presidency Towns Insolvency Act.
IBC introduced time-bound resolution: 180 days (extendable by 90 days) for corporate insolvency.
Since inception, IBC has resolved cases involving claims worth lakhs of crores, significantly improving India's Ease of Doing Business rankings.
The National Company Law Tribunal (NCLT) serves as the adjudicating authority for corporate insolvency under IBC.
Static Knowledge
IBBI was established under IBC 2016; headquartered in New Delhi.
India's NPA (Non-Performing Assets) problem was a key driver behind IBC's enactment.
Pre-packaged Insolvency Resolution Process (PIRP) was introduced for MSMEs in 2021.
Committee of Creditors (CoC) has a decisive role in approving resolution plans under IBC.
Liquidation is the last resort under IBC if no resolution plan is approved.
7. India's First Stratospheric Super Pressure Balloon "VISTA" Launched
Why in News?
Red Balloon Aerospace Private Limited launched India's first indigenous Stratospheric Super Pressure Balloon (SPB) named "VISTA" at Indira Gandhi Stadium, Vijayawada, Andhra Pradesh, as part of Mission SANA.
Key Points
VISTA ascended to approximately 25 km above Earth, carrying payloads from 7 national and international partners.
Super Pressure Balloon (SPB) technology maintains stable altitude for weeks or months without gas loss during day-night temperature cycles.
With this launch, India joins the world's five nations with indigenous stratospheric balloon capability: USA, France, Japan, China, and India.
The launch supports applications in climate research, near-space exploration, communication relay, and scientific experiments.
Static Knowledge
Stratosphere extends from approximately 12 km to 50 km above Earth's surface.
NASA's Super Pressure Balloon programme has long-duration flights over Antarctica.
ISRO operates conventional sounding balloons from the Tata Institute of Fundamental Research Balloon Facility (TIFR-BF) in Hyderabad.
Near-space (20-100 km) is beyond conventional aviation but below orbital space, useful for scientific payloads.
Startup space companies in India are regulated and promoted under IN-SPACe (Indian National Space Promotion and Authorization Centre).
8. Taiwan Surpasses India as World's 5th Largest Stock Market
Why in News?
The Taiwan Stock Exchange surpassed India in May 2026 to become the world's fifth largest stock market with a market capitalization of USD 4.95 trillion, compared to India's USD 4.92 trillion.
Key Points
The surge was driven by the AI-led semiconductor boom led by Taiwan Semiconductor Manufacturing Company (TSMC).
TSMC shares surged 45-50% in 2026, constituting nearly 42% of the Taiex index.
Global Stock Market Rankings 2026: USA → China → Japan → Hong Kong → Taiwan → India → South Korea.
India faced FPI (Foreign Portfolio Investor) outflows, benchmark declines, and reduced MSCI Emerging Markets Index weight.
India's decline attributed to: high valuations, limited AI-linked firms, rising costs, and global capital shifting toward semiconductor-heavy markets.
Taiwan's domestic fund investment limits were raised from 10% to 25%, boosting domestic inflows.
Static Knowledge
NSE (National Stock Exchange) is India's largest stock exchange by trading volume; BSE (Bombay Stock Exchange) is Asia's oldest.
SEBI (Securities and Exchange Board of India) regulates India's capital markets.
FPI flows are tracked and regulated by SEBI; FPIs require registration for investing in Indian markets.
MSCI Emerging Markets Index is a benchmark for EM equity performance; India's weightage affects FPI flows.
Market Capitalization = Total shares outstanding × Current share price.
The 16th India-Singapore Defence Policy Dialogue was held in Singapore on 28 May 2026, co-chaired by Indian Defence Secretary Shri Rajesh Kumar Singh and Singapore's Permanent Secretary (Defence) Mr. Joseph Leong.
Key Points
Areas of collaboration explored: cyber security, artificial intelligence, unmanned systems, maritime security, and advanced defence technologies.
The dialogue reinforces the India-Singapore Comprehensive Strategic Partnership (established 2015).
Both nations are key partners in ASEAN-India cooperation and Indo-Pacific security frameworks.
Singapore is a major maritime hub in Southeast Asia and a critical node for India's Act East Policy.
India-Singapore defence ties include joint exercises such as SIMBEX (naval), Bold Kurukshetra (army), and Sindex (air force).
Static Knowledge
India-Singapore established Comprehensive Strategic Partnership in 2015.
ASEAN (Association of Southeast Asian Nations) has 10 member states; headquartered in Jakarta, Indonesia.
India's Act East Policy (upgraded from Look East Policy in 2014) prioritizes engagement with Southeast Asia.
SIMBEX — Singapore-India Maritime Bilateral Exercise — is one of India's longest-running bilateral naval exercises.
Singapore is home to the International Maritime Organization (IMO) Regional Presence in Asia.
10. Russia-Kazakhstan Agreement: First Nuclear Power Plant
Why in News?
Russia and Kazakhstan signed a USD 16.5 billion agreement on 28 May 2026 for Russia's Rosatom to build Kazakhstan's first nuclear power plant in the village of Ulken on the shores of Lake Balkhash.
Key Points
The plant will be equipped with two VVER-1200 reactors.
Construction is set to begin in 2027; first reactor scheduled for completion by early 2034.
VVER-1200 is Russia's Generation III+ pressurized water reactor design with passive safety systems.
Kazakhstan is rich in uranium — it is the world's largest uranium producer (accounting for ~45% of global output).
Rosatom is Russia's state nuclear energy corporation; it has nuclear projects in India as well (Kudankulam Nuclear Power Plant in Tamil Nadu).
This reflects Russia's continued global nuclear energy expansion despite Western sanctions.
Static Knowledge
Rosatom (Rosatom State Atomic Energy Corporation) is Russia's nuclear energy agency.
India's Kudankulam Nuclear Power Plant (Tamil Nadu) is a joint India-Russia project using VVER-1000 reactors.
Kazakhstan is a member of the International Atomic Energy Agency (IAEA) and a signatory to the Nuclear Non-Proliferation Treaty (NPT).
India operates nuclear power plants under the Nuclear Power Corporation of India Limited (NPCIL).
Global nuclear energy contributes approximately 10% of world electricity generation.
11. DARPG Launches NeSDA 2025 Portal for E-Governance Assessment
Why in News?
The Department of Administrative Reforms and Public Grievances (DARPG) launched the NeSDA 2025 Portal to comprehensively assess e-governance service delivery across states, UTs, and Central Ministries.
Key Points
NeSDA = National e-Governance Service Delivery Assessment — a biennial assessment framework.
Assesses 59 mandatory services for every state and UT; 43 services for identified Central Ministries.
Parameters: accessibility, content availability, ease of use, and information security.
Two categories of portals assessed: State/UT/City/Central Ministry Portals and Service Portals.
Focus sectors: Finance, Labour & Employment, Education, Local Governance, Social Welfare, Environment, Tourism, Transport.
DARPG functions under the Ministry of Personnel, Public Grievances and Pensions (MoPP&P).
Static Knowledge
Digital India Programme was launched in 2015 to transform India into a digitally empowered society.
DARPG is the nodal agency for administrative reforms and e-governance in India.
G2C (Government-to-Citizen) and G2B (Government-to-Business) are key e-governance service delivery models.
UMANG App (Unified Mobile Application for New-age Governance) provides access to 1,200+ government services.
MyGov is India's citizen engagement platform under the Ministry of Electronics and IT.
12. Janez Janša Elected PM of Slovenia for Fourth Term
Why in News?
Nationalist politician Janez Janša, leader of the Slovenian Democratic Party (SDS), was elected as Prime Minister of Slovenia for a fourth term in May 2026, securing 51 votes in the 90-member National Assembly.
Key Points
He succeeded Robert Golob as PM of Slovenia.
His SDS formed a centre-right coalition, ending post-election political deadlock.
Slovenia is a member of the European Union (EU), NATO, and Eurozone.
Capital of Slovenia: Ljubljana; Currency: Euro.
Janša is a prominent pro-NATO, pro-EU conservative politician in Central Europe.
Slovenia shares borders with Italy, Austria, Hungary, and Croatia.
Static Knowledge
Slovenia declared independence from Yugoslavia on 25 June 1991.
Ljubljana is the capital and largest city of Slovenia.
Slovenia joined the EU in 2004 and adopted the Euro in 2007.
Slovenia is part of the Schengen Area, which allows free movement across 29 European countries.
NATO (North Atlantic Treaty Organization) has 32 member states as of 2024.
Important Reports, Indexes & Data
Report/Index
Released By
Key Finding
10th National Health Accounts (NHA) Estimates FY23
MoH&FW / NHSRC
GHE rose to Rs 3.85 lakh crore; THE = 3.37% of GDP
Third Advance Estimates – Foodgrain Production 2025-26
Ministry of Agriculture & Farmers Welfare
Record 376.563 MT production; 5.3% YoY increase
State of India's Digital Economy 2026
(Digital Economy Report)
India ranked 4th in AI performance, 5th in digital economy globally
Sample Registration System (SRS) Statistical Report 2024
Office of the Registrar General of India
India's TFR drops to 1.9 (below replacement level of 2.1)
Global Stock Market Rankings 2026
Market Data (May 2026)
Taiwan overtook India; now ranked 5th at USD 4.95 trillion
NeSDA 2025
DARPG
Biennial e-Governance assessment launched for 59 mandatory services per state
Important Appointments & Awards
Category
Name / Detail
PM of Slovenia (4th term)
Janez Janša (Slovenian Democratic Party)
Interim CEO Extension – Fino Payments Bank
Ketan Merchant (3-month extension from 27 May 2026)