The Ministry of Rural Development announced that the Viksit Bharat – Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, 2025, will replace MGNREGA on July 1, 2026, increasing guaranteed employment to 125 days per financial year and expanding the scope of permissible works.
Source ↗The Department of Financial Services launched the USD 1.5 billion Bharat Maritime Insurance Pool with a USD 1.4 billion sovereign guarantee to provide risk cover for Indian vessels on international routes and reduce dependence on foreign insurers.
Source ↗A new government scheme has been approved to promote surface coal and lignite gasification projects aimed at producing syngas. The initiative seeks to gasify 75 million tonnes of coal to reduce India's dependence on imported urea, methanol, and LNG while enhancing domestic energy security.
Source ↗The Indian government has increased effective customs duties on gold and silver from 6% to 15% to curb non-essential imports and conserve foreign exchange reserves in response to economic pressures caused by the West Asia crisis, rising crude oil prices, and a weakening rupee.
Source ↗The National Testing Agency announced a re-test for nearly 22 lakh medical aspirants after the NEET-UG 2026 exam was found to be compromised due to paper leak. The incident has raised significant concerns regarding examination integrity and has led to calls for structural reforms, including a transition to computer-based testing.
Source ↗The Reserve Bank of India cancelled the banking license of Sarvodaya Co-operative Bank due to inadequate capital and inability to pay depositors, effective May 12, 2026.
Source ↗The Supreme Court endorsed the right to be taught in a mother tongue, citing Articles 350A, 21A, and 19(1)(a) of the Constitution while directing the Rajasthan government to frame a policy in line with the National Education Policy.
Source ↗The Indian Cyber Crime Coordination Centre and Reserve Bank Innovation Hub signed an agreement to utilize AI and intelligence sharing to detect mule accounts and prevent cyber financial crimes.
Source ↗BJP leader Himanta Biswa Sarma was sworn in for his second consecutive term as the Chief Minister of Assam, becoming the first non-Congress leader in the state to achieve this milestone.
Source ↗Wholesale price inflation hit 8.3% in April, with fuel and power inflation surging to 24.71% due to the ongoing crisis in West Asia affecting crude prices.
Source ↗