May 2026 Current Affairs for Competitive Exams with 100 Practice MCQs

Introduction

May 2026 current affairs are very important for students preparing for competitive exams like UPSC, SSC, Banking, Railways, and State PCS. This month includes major updates in government schemes, policies, defence, economy, science & technology, sports, awards, appointments, and international events. Studying May 2026 current affairs regularly helps candidates stay updated with recent developments and improves their performance in the General Awareness section.

This article on May 2026 current affairs is designed in a simple and exam-oriented way, covering all important topics with clear explanations. It focuses on key facts, names, dates, and important highlights that are frequently asked in exams. By revising May 2026 current affairs along with practice questions, students can boost their confidence, accuracy, and overall exam preparation.

Note / Disclaimer:

This article on May 2026 current affairs is based on the latest available information as of now. Some details, especially appointments, rankings, policies, and ongoing events, may change over time due to new updates or government decisions. If you are reading this in the future, it is strongly recommended to recheck and verify the latest information from official sources.

For competitive exams, always make sure you are studying the most updated version of May 2026 current affairs, as even small changes in facts or names can affect your answers. Regular revision and cross-checking will help you stay accurate and exam-ready.

May 2026 Current Affairs

Government Schemes & Policies

1. Emergency Credit Line Guarantee Scheme 5.0 (ECLGS 5.0)

• Name of the scheme: Emergency Credit Line Guarantee Scheme 5.0 (ECLGS 5.0)
• Purpose / Objective: To provide emergency credit support and liquidity injection to businesses, MSMEs, and the aviation sector to help them ride out supply chain disruptions and economic pressures caused by ongoing geopolitical conflicts in West Asia.
• Target beneficiaries: Micro, Small, and Medium Enterprises (MSMEs), eligible non-MSME business enterprises, and scheduled passenger airlines across India.
• Launched by: Department of Financial Services, Ministry of Finance
• Year of launch: 2026 (Approved on May 5, 2026 and Operational guidelines issued by NCGTC on 8 May 2026)
• Key features:
  • Provides high-percentage sovereign credit guarantees directly to financial lenders so they can confidently issue loans without demanding fresh collateral from stressed businesses.
  • No separate guarantee fee is levied on the Member Lending Institutions (MLIs) or the borrowers.
• Benefits provided:
  • Collateral-Free Additional Loans: MSMEs and non-MSMEs can access additional working capital up to 20% of their peak fund-based limits (capped at ₹100 crore per borrower).
  • Aviation Relief: Scheduled airlines can access up to 100% of their peak credit outstanding (capped at ₹1,500 crore per borrower).
• Eligibility criteria:
  • Borrowers must have active, outstanding working capital limits with commercial banks, co-operative banks, or NBFCs as of March 31, 2026.
  • The loan accounts must be categorized as “Standard” (accounts classified as SMA-2 or Non-Performing Assets are excluded).
• Important components/sub-schemes:
  1. Core MSME/Non-MSME Capital Component (100% guarantee for MSMEs; 90% for non-MSMEs).
  2. Scheduled Passenger Airline Component (90% guarantee framework; requires proportional equity contribution from promoters for loans between ₹1,000 crore and ₹1,500 crore).
• Funding pattern: 100% Centrally Funded through a dedicated government guarantee pool target of ₹2,55,000 crore.
• Implementing agency: National Credit Guarantee Trustee Company Limited (NCGTC).
• Recent updates or changes (May 2026): The Union Cabinet officially cleared and triggered ECLGS 5.0 in the first week of May 2026. This iteration extends the loan tenor to 5 years for general sectors (with a 1-year moratorium) and up to 7 years for airlines (with a 2-year moratorium). The scheme is valid for all loans sanctioned up to March 31, 2027.

2. SARTHAK-PDS Scheme

• Name of the scheme: SARTHAK-PDS (Scheme for Assistance in Ration Transport and Handling-Income with Automation in PDS)
• Purpose / Objective: To strengthen India’s Public Distribution System by providing financial support for intra-state movement and handling of foodgrains, ensuring fair profit margins to Fair Price Shop (FPS) dealers, and modernizing the PDS through advanced technology to reduce leakages, improve transparency, and enhance last-mile delivery under the National Food Security Act (NFSA).
• Target beneficiaries: Approximately 81.35 crore beneficiaries covered under the National Food Security Act (NFSA) and Fair Price Shop (FPS) dealers across all States and Union Territories.
• Launched by: Ministry of Consumer Affairs, Food and Public Distribution (Department of Food and Public Distribution).
• Year: Approved on 27 May 2026 by the Cabinet Committee on Economic Affairs (CCEA) for implementation from April 2026 to March 2031.
• Key features:
  • It is an umbrella scheme that integrates financial assistance for foodgrain movement with technology-driven reforms.
  • Uses advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), Blockchain, and Natural Language Processing (NLP) for real-time tracking and leak-proof distribution.
  • Ensures assured and enhanced profit margins for Fair Price Shop dealers.
  • Aims to create a transparent, efficient, and citizen-centric Public Distribution System.
• Benefits provided:
  • Central financial assistance to States/UTs for intra-state transportation and handling of foodgrains.
  • Assured and improved profit margins for Fair Price Shop (FPS) dealers.
  • Technology-enabled systems to prevent diversion and leakages of foodgrains.
  • Better transparency and real-time monitoring of the entire PDS supply chain.
• Eligibility criteria: All States and Union Territories implementing the National Food Security Act (NFSA) are eligible. Fair Price Shops operating under the PDS network can avail the benefits of assured margins and digital infrastructure support.
• Important components/sub-schemes:
  • Assistance for Intra-State Movement of Foodgrains and FPS Dealers’ Margin – Provides financial support to States for transportation, handling, and dealer commissions.
  • SMART-PDS – Technology modernization component that uses AI, Blockchain, and digital tools for real-time data capture and monitoring.
• Funding pattern: It is a Central Sector Scheme with 100% Central funding. Total approved Central outlay is ₹25,530 crore for a period of five years (2026–31).
• Implementing agency: Department of Food and Public Distribution (Ministry of Consumer Affairs, Food and Public Distribution) in coordination with State/UT Food and Civil Supplies Departments.
• Recent updates or changes (May 2026): The Cabinet Committee on Economic Affairs (CCEA) approved the continuation and expansion of SARTHAK-PDS on 27 May 2026 as an umbrella scheme for five years (April 2026 to March 2031), with a total Central outlay of ₹25,530 crore. The scheme aligns with the 16th Finance Commission period and focuses on both financial support and deep technology integration in the Public Distribution System.

3. Angikaar 2026 Campaign (Under PMAY-U 2.0)

• Name of the scheme: Angikaar 2026 Campaign
• Purpose / Objective (why it was started): To conduct a high-intensity, time-bound national outreach and saturation drive aimed at accelerating the completion, geo-tagging, and legal occupancy of houses under PMAY-U and PMAY-U 2.0, while ensuring convergence of beneficiaries with other government schemes, especially clean energy initiatives.
• Target beneficiaries (who gets the benefit): Sanctioned and eligible urban households under Pradhan Mantri Awas Yojana – Urban (PMAY-U) and PMAY-U 2.0, primarily from Economically Weaker Sections (EWS) and Low-Income Groups (LIG).
• Launched by (Ministry/Department): Ministry of Housing and Urban Affairs (MoHUA)
• Year of launch: May 2026
  (Campaign Period: 4 May 2026 to 31 July 2026)
• Key features (main highlights of the scheme):
  • A focused implementation sprint to clear pending applications, speed up house completion, and resolve geo-tagging backlogs.
  • Organizes large-scale on-ground events such as “PM Awas Mela – Shehri” at Urban Local Bodies (ULBs) and district headquarters.
  • Uses mobile outreach vans, camps, and door-to-door drives to address last-mile bottlenecks in person.
  • Strong emphasis on convergence with other central schemes.
• Benefits provided (money, insurance, subsidy, etc.):
  • Faster processing of building plan approvals, clearances, and occupancy certificates.
  • Facilitation of credit linkage for beneficiaries through existing PMAY-U mechanisms.
  • On-spot registration and convergence with PM Surya Ghar: Muft Bijli Yojana for rooftop solar installation.
  • Improved access to other welfare schemes through single-window facilitation during melas and camps.
• Eligibility criteria:
  Existing beneficiaries who have been sanctioned houses under PMAY-U / PMAY-U 2.0, as well as pending and verified applicants within the designated Urban Local Bodies (ULBs).
• Important components/sub-schemes (if any):
  • PM Awas Mela – Shehri – Monthly/district-level facilitation events for on-spot resolution of issues.
  • Convergence Component – Integration with clean energy schemes, especially PM Surya Ghar: Muft Bijli Yojana for rooftop solar.
• Funding pattern (Central / State / Both):
  Fully integrated within the central funding of PMAY-U 2.0. It is a 100% Centrally funded initiative under the Ministry of Housing and Urban Affairs.
• Implementing agency:
  Ministry of Housing and Urban Affairs (MoHUA) in close coordination with State Governments, Municipal Corporations, and Urban Local Bodies (ULBs).
• Recent updates or changes:
  The official guidelines for Angikaar 2026 were issued on 4 May 2026. The campaign has set ambitious time-bound targets, including:
  • Fast-track completion of 11 lakh Beneficiary-Led Construction (BLC) houses.
  • Clearing the geo-tagging backlog for ongoing Affordable Housing in Partnership (AHP) projects.
  • Mandatory convergence of new housing units with PM Surya Ghar: Muft Bijli Yojana for rooftop solar installation.

4. Mission for Cotton Productivity

• Name of the scheme: Mission for Cotton Productivity.
• Purpose / Objective (why it was started): To significantly reduce India’s dependence on imported Extra Long Staple (ELS) cotton, improve per-hectare cotton yields, enhance cotton quality, and strengthen the entire textile value chain to boost farmer income and India’s global competitiveness in textiles.
• Target beneficiaries (who gets the benefit): Cotton-growing farmers (especially in rain-fed areas), ginning and spinning mills, MSME textile clusters, and fabric exporters across major cotton-producing states.
• Launched by (Ministry/Department): Ministry of Agriculture & Farmers Welfare in collaboration with the Ministry of Textiles.
• Year of launch: May 2026
  (Approved by the Union Cabinet on 5 May 2026 for the period 2026–27 to 2030–31)
• Key features (main highlights of the scheme):
  • Focuses on technological transformation through large-scale adoption of High-Density Planting Systems (HDPS) and modern agronomic practices.
  • Promotes development and distribution of high-yielding, climate-resilient, and pest-resistant cotton varieties, with special emphasis on Extra Long Staple (ELS) cotton.
  • Aims to increase national lint productivity from 440 kg/ha to 755 kg/ha by 2030-31.
  • Supports modernization of ginning and processing infrastructure along with quality improvement and traceability initiatives (Kasturi Cotton Bharat).
• Benefits provided (money, insurance, subsidy, etc.):
  • Access to high-yielding and climate-resilient cotton seeds (including ELS varieties).
  • Training and technology transfer support to farmers for adopting modern cultivation practices like HDPS.
  • Financial assistance and support for modernization of ginning and processing units.
  • Improved market access and better price realization through quality improvement and branding initiatives.
• Eligibility criteria:
  Cotton-growing farmers with landholdings in identified cotton clusters and districts, along with ginning/processing units and textile value chain stakeholders participating in the mission’s activities.
• Important components/sub-schemes (if any):
  • Promotion of Extra Long Staple (ELS) Cotton through seed development and area expansion.
  • Scaling up of High-Density Planting System (HDPS) and precision agronomy practices.
  • Modernization of ginning & processing infrastructure and quality certification systems.
• Funding pattern (Central / State / Both):
  Centrally Sponsored Scheme with a total approved outlay of ₹5,659.22 crore for the period 2026–27 to 2030–31.
• Implementing agency:
  Department of Agriculture and Farmers Welfare in coordination with the Ministry of Textiles, Cotton Corporation of India (CCI), ICAR institutes, and State Agricultural Universities/Departments.
• Recent updates or changes:
  The Union Cabinet approved the Mission for Cotton Productivity on 5 May 2026 with an outlay of ₹5,659.22 crore. The mission aims to make India self-reliant in premium cotton (especially ELS cotton) by 2030-31, reduce imports from countries like the USA and Egypt, and align with the government’s 5F Vision (Farm to Fibre to Factory to Fashion to Foreign). It will initially focus on 140 districts across 14 major cotton-growing states.

5. Scheme for Promotion of Surface Coal & Lignite Gasification Projects

• Name of the scheme: Scheme for Promotion of Surface Coal/Lignite Gasification Projects.
• Purpose / Objective (why it was started): To reduce India’s heavy dependence on imports of crude oil, natural gas, methanol, and chemicals by promoting the conversion of domestic coal and lignite into cleaner synthetic gas (syngas) through surface gasification technology.
• Target beneficiaries (who gets the benefit): Public Sector Undertakings (PSUs), private sector companies in chemicals and fertilizers, mining companies, and entities involved in the coal-to-chemicals and energy value chain.
• Launched by (Ministry/Department): Ministry of Coal, Government of India.
• Year of launch: May 2026
  (Union Cabinet approved the scheme with a financial outlay on 13 May 2026)
• Key features (main highlights of the scheme):
  • Promotes clean coal gasification technology to produce syngas for use in fertilizers, chemicals, synthetic fuels, and other industrial applications.
  • Supports the national target of gasifying 75 Million Tonnes (MT) of coal and lignite by 2030.
  • Uses a competitive and transparent bidding process for project selection.
  • Focuses on both strategic PSU-led projects and private sector participation through joint ventures.
• Benefits provided (money, insurance, subsidy, etc.):
  • Financial incentives of up to 20% of the cost of plant and machinery for approved gasification projects.
  • Milestone-linked disbursement of incentives to ensure timely project execution.
  • Support for development of indigenous technology and reduction in import dependence on energy and chemical feedstock.
• Eligibility criteria:
  Entities (both PSUs and private companies) selected through a transparent competitive bidding process based on technical feasibility, project viability, and cost benchmarks.
• Important components/sub-schemes (if any):
  • Category I: Government PSU-led Strategic Projects.
  • Category II: Private Sector and PSU Joint Venture projects selected through competitive bidding.
• Funding pattern (Central / State / Both):
  100% Centrally Funded scheme with a total approved outlay of ₹37,500 crore.
• Implementing agency:
  Ministry of Coal, Government of India.
• Recent updates or changes:
  The Union Cabinet approved the Scheme for Promotion of Surface Coal/Lignite Gasification Projects on 13 May 2026 with a financial outlay of ₹37,500 crore. The scheme aims to accelerate large-scale coal gasification projects, attract private investment, create employment in coal-bearing regions (such as Jharkhand, Odisha, and Chhattisgarh), and support India’s goal of reducing import dependence on energy and chemical products.

6. PRITHVI (Prithvi Vigyan) Scheme – Phase II

• Name of the scheme: PRITHVI (Prithvi Vigyan) Scheme.
• Purpose / Objective (why it was started): To significantly enhance India’s capabilities in weather forecasting, climate modeling, ocean services, polar research, seismology, and disaster warning systems by integrating multiple Earth System Science initiatives under one unified framework.
• Target beneficiaries (who gets the benefit): Farmers, fishermen, coastal communities, disaster management authorities, state governments, and the scientific research community across India.
• Launched by (Ministry/Department): Ministry of Earth Sciences (MoES)
• Year of launch: January 2024
  (Approved by the Union Cabinet for the period 2021–26)
• Key features (main highlights of the scheme):
  • Integrates five long-running sub-schemes of the Ministry of Earth Sciences into a single, coordinated mission.
  • Focuses on strengthening observation systems, modeling capabilities, and early warning systems for weather, climate, ocean, and geophysical hazards.
  • Supports deployment of advanced research infrastructure including research vessels, supercomputers, and observational networks.
• Benefits provided (money, insurance, subsidy, etc.):
  • Improved accuracy and lead time in cyclone, tsunami, and extreme weather early warning systems.
  • High-resolution weather and climate advisories provided directly to farmers and fishermen.
  • Better disaster preparedness and risk reduction for coastal and vulnerable regions.
  • Enhanced scientific research output in Earth System Sciences.
• Eligibility criteria:
  The scheme is implemented at the national level. Research grants and projects are provided to recognized scientific institutions, universities, and organizations under the Ministry of Earth Sciences.
• Important components/sub-schemes (if any):
  • ACROSS – Atmosphere & Climate Research-Modelling Observing Systems & Services
  • O-SMART – Ocean Services, Modelling, Applications, Resources and Technology
  • PACER – Polar Science and Cryosphere Research
  • SAGE – Seismology and Geosciences
  • REACHOUT – Research, Education and Training Outreach
• Funding pattern (Central / State / Both):
  100% Centrally Funded scheme with a total approved outlay of ₹4,797 crore for the period 2021–26.
• Implementing agency:
  Ministry of Earth Sciences (MoES) through its attached offices and autonomous institutes including IMD, INCOIS, IITM, NCMRWF, and NCPOR.
• Recent updates or changes:
  The PRITHVI Scheme continues to be implemented with focus on strengthening early warning systems and expanding observational infrastructure. Activities under the scheme include modernization of weather radar networks and expansion of ocean observation systems. (Note: As of now, there is no officially confirmed separate “Phase II” approved in May 2026.)