Daily Current Affairs – 09-05-2026

National News

India Trails Global Markets on Earnings Outlook

Motilal Oswal Financial Services reported that Indian equity markets joined the recent global market rebound, with nearly 94% of Nifty and BSE-200 stocks recording gains during April. However, the Nifty 50 index remains around 8% below its September 2024 peak and nearly 5% below pre-war levels, while several global indices have reached new highs. Global markets are currently expecting 20–40% EPS (Earnings Per Share) growth, whereas India’s expected earnings growth stands at 18%. Markets in the United States, South Korea, and Taiwan have outperformed due to strong investments in Artificial Intelligence (AI) and semiconductor manufacturing sectors. In April, Domestic Institutional Investors (DIIs) invested around 5.4 billion US dollars, while Foreign Portfolio Investors (FPIs) withdrew nearly 21 billion US dollars during the year. India’s dependence on imported crude oil remains a concern, as the country imports more than 80% of its oil, and crude prices above 100 US dollars per barrel may affect corporate profits. The report also stated that large-cap stocks appear relatively safer, with the Nifty-50 trading at 19.1 times forward earnings, about 9% below its long-term average, whereas mid-cap and small-cap stocks continue to trade at premium valuations.

Calcutta High Court on Great Nicobar Project

The Calcutta High Court rejected the preliminary objections raised by the Union Government regarding petitions challenging the ₹72,000-crore Great Nicobar Island Project for alleged violations of the Forest Rights Act (FRA), 2006. The Bench comprising Chief Justice Sujoy Paul and Justice Partha Sarathi Sen dismissed the Centre’s objection against petitioner Meena Gupta, a retired IAS officer and former Secretary in the Ministry of Tribal Affairs and Ministry of Environment. The court directed that the case be listed for final hearing on June 23. The petitions challenged the Gram Sabha resolutions permitting diversion of forest land under the Forest Rights Act, 2006, the formation of a sub-divisional level committee under the same Act, and the reduction of buffer zones in Campbell Bay National Park and Galathea Bay National Park. The petitions also questioned the validity of the certificate issued by the Andaman and Nicobar Islands Administration stating that all rights under the FRA had been settled. The Central Government stated that the project includes a transhipment port, an airport, and a township in Great Nicobar Island.

QR Code Verification for Census Enumerators

The Director of Census Operations (DCO), Haryana, Lalit Jain, announced that Census enumerators have been issued identity cards with QR codes to help residents verify their authenticity. The measure was introduced after some gated communities and residential societies denied entry to enumerators. On December 2, 2025, the Union Ministry of Home Affairs informed Parliament that under Section 8(2) of the Census Act, 1948, every resident is legally bound to answer Census-related questions to the best of their knowledge. The Census process collects basic information such as availability of drinking water supply and toilet facilities in households. The authorities also stated that the data collected during the Census will remain secure and will not be shared with others.

M.S. Dhoni Tops Taxpayer List in Bihar and Jharkhand

Former Indian cricket captain M.S. Dhoni emerged as the highest individual taxpayer in the combined States of Bihar and Jharkhand during the 2025-26 financial year. According to Dr. D. Sudhakar Rao, Principal Chief Commissioner of Income Tax for Bihar-Jharkhand, the total tax collection from the two States during 2025-26 was around ₹20,000 crore, of which ₹12,000 crore was collected from Jharkhand alone. The Income Tax Department stated that Jharkhand contributed nearly 60% of the combined tax revenue, while around 70% of the total revenue was collected through TDS (Tax Deducted at Source). In the corporate category, Central Coalfields (CCL), Bharat Coking Coal (BCCL) and Central Mine Planning & Design Institute (CMPDI) were the highest taxpayers. The department also noted a significant gap between the number of PAN card holders and taxpayers in the region.

PM Modi to Attend Somnath Temple Amrut Mahotsav

Prime Minister Narendra Modi will participate in the ‘Amrut Mahotsav’ festival at the Somnath Temple in Gujarat on May 11, according to Gujarat Minister Jitu Vaghani. The event also marks the 75th anniversary of the inauguration of the renovated Somnath Temple by India’s first President Rajendra Prasad. During the visit, PM Modi will travel to Somnath from Jamnagar after completing programmes in Hyderabad. The Suryakiran aerobatic team of the Indian Air Force will conduct an air show during the event. PM Modi will also perform rituals at the temple and address a public meeting at Sadbhavana Ground. Gujarat Chief Minister Bhupendra Patel, BJP MLA Rivaba Jadeja, and MP Poonam Maadam are expected to participate in the programme.

Supreme Court Orders Special Courts for NIA Cases

The Supreme Court of India issued directions to speed up trials under the National Investigation Agency (NIA) Act by setting up special courts for pending cases. A bench comprising Chief Justice of India Surya Kant and Justice Joymalya Bagchi ordered that at least one special NIA court should be established for every 10 to 15 pending cases. The directions were issued during the hearing of a suo motu case registered in February to monitor criminal trials under special laws such as the Unlawful Activities (Prevention) Act (UAPA). The Court stated that if pending cases exceed 15, two courts should be established, and if cases exceed 25, three courts should be set up. The Supreme Court also directed that cases in these courts should be heard on a day-to-day basis and instructed the Central Government to release necessary funds and infrastructure support for establishing additional courts.

States’ News

Suvendu Adhikari to Become West Bengal Chief Minister

The newly elected BJP MLAs in West Bengal unanimously elected Suvendu Adhikari as the leader of the BJP Legislature Party. The meeting was presided over by Union Home Minister Amit Shah. Mr. Adhikari met Governor R.N. Ravi at Lok Bhavan to stake claim to form the government. In the 294-member West Bengal Legislative Assembly, the Bharatiya Janata Party (BJP) won 207 seats, while the Trinamool Congress (TMC) secured 80 seats. Suvendu Adhikari, aged 57, will take oath as the first BJP Chief Minister of West Bengal at the Brigade Parade Grounds, Kolkata. The swearing-in ceremony will be attended by Prime Minister Narendra Modi and Chief Ministers from BJP and National Democratic Alliance (NDA) ruled States.

Child Care Centre in Bengaluru Central Jail

The Karnataka Child Protection Directorate has established the country’s first Child Care Centre inside the women prisoners’ section of Bengaluru Central Jail. The centre was created for infants living with women convicts in prison. According to C.V. Sneha, Director of the Karnataka Child Protection Directorate, the centre currently has 9 children and 2 teachers have been appointed to teach them letters, numbers, songs and good habits. The Directorate stated that when children attain the age of 6 years, assistance from NGOs will be sought if family members do not come forward to care for them. Among the 9 children currently in the centre, 3 are foreigners, while the remaining children belong to other States.

N. Rangasamy Re-elected as Puducherry Chief Minister

N. Rangasamy was unanimously re-elected as the Chief Ministerial candidate of the National Democratic Alliance (NDA) in Puducherry during the NDA MLAs’ meeting held on May 8. In the Puducherry Legislative Assembly election, the NDA led by N. Rangasamy won 18 out of 30 constituencies and retained power. Prior to the formation of the new government, N. Rangasamy (75) resigned from the Chief Minister’s post. The meeting was attended by 12 MLAs of N.R. Congress, 4 BJP MLAs, AIADMK MLA Anbalagan, and Latchiya Jananayaga Katchi leader Jose Charles Martin. Union Minister Mansukh Mandaviya, BJP president V.P. Ramalingam, and N.R. Congress leaders including Lakshminarayanan and Jayapal also participated in the meeting.

International News

IIT Madras Deep-Tech Hub in U.S.

The IIT Madras Global Research Foundation has announced the establishment of a deep-tech hub at Menlo Park, California, United States, with a planned investment of 7.5 million US dollars. The announcement was made during the SelectUSA Investment Summit. The centre was launched on April 24 with a greenfield investment of 4.5 million US dollars from IITM Global. Located near Silicon Valley, the hub will support Indian deep-tech startups by providing access to global markets, venture ecosystems, mentorship, research collaborations, industry partnerships, startup incubation, and commercialisation of deep-tech research. IITM Global also announced plans to establish a second centre on the East Coast of the United States.

11,000-Carat Ruby Discovered in Myanmar

An 11,000-carat ruby weighing 2.2 kilograms was discovered near Mogok in the upper Mandalay region of Myanmar. According to the state-run Global New Light of Myanmar, the ruby was found in mid-April after the traditional New Year festival. It is considered the second-largest ruby by weight ever discovered in Myanmar. The ruby is regarded as highly valuable due to its superior colour and quality. Earlier, a 21,450-carat ruby was discovered in 1996 in Myanmar. The country produces nearly 90% of the world’s rubies, and gemstone mining remains an important source of revenue for Myanmar.

Tamil Nadu News

Deposit Forfeitures in Tamil Nadu Assembly Elections

In the Tamil Nadu Assembly elections held on April 23, out of 4,032 candidates, 3,352 candidates lost their deposits for failing to secure at least one-sixth of the total valid votes polled in their constituencies. In Karur, 76 out of 79 candidates forfeited their deposits, while more than 30 candidates lost deposits in Perambur, Dr. Radhakrishnan Nagar, and Kolathur constituencies. Among major political parties, AIADMK candidates lost deposits in 19 constituencies, and BJP candidates lost deposits in 5 constituencies. The Naam Tamilar Katchi (NTK) lost deposits in all 234 constituencies it contested. The Congress, CPI, CPI(M), DMDK, DMK, and VCK did not lose deposits in any contested constituency. Except for one candidate, 2,208 independent candidates forfeited their deposits. The Tamilaga Vettri Kazhagam (TVK) did not lose deposits in any of the 233 constituencies it contested. According to the Election Commission of India, the State polling percentage was 86.03%, while polling excluding postal ballots stood at 85.01%. Out of 5,86,954 postal votes, 65,047 votes were rejected. The TVK secured 1,72,26,209 votes in 233 constituencies, while the DMK received 1,19,29,144 votes in 176 constituencies and the AIADMK secured 1,04,62,146 votes in 172 constituencies. Among the winning candidates, 13 of the 108 TVK winners and 6 of the 47 AIADMK winners were women.

Chennai Airport Leads Passenger Traffic in Tamil Nadu

According to passenger usage data released by the Airports Authority of India (AAI), Chennai Airport handled the highest number of passengers in Tamil Nadu during the financial year from April 1, 2025 to March 31, 2026. Around 2.30 crore passengers used Chennai Airport during the period, recording a 2.7% increase compared to the previous financial year. Coimbatore Airport ranked second with 32.2 lakh passengers, registering a 5.2% growth. Tiruchirappalli International Airport secured the third position with 22.2 lakh passengers, mainly due to increased flight services to Southeast Asian countries. Madurai Airport ranked fourth with 13.8 lakh passengers, followed by Tuticorin Airport with 2.90 lakh passengers and Salem Airport with 1.27 lakh passengers. The rise in air passenger traffic in Tamil Nadu is linked to industrial growth, tourism development and expansion of international air connectivity.

Personalities, Awards and Events

K. Satchidanandan Resigns from Kerala Sahitya Akademi

K. Satchidanandan, poet and writer, resigned from the post of President of the Kerala Sahitya Akademi located in Thrissur, Kerala. Vice-President Ashokan Charuvil also resigned from his position. Both leaders submitted their resignation letters through Email to the Secretary of the Cultural Affairs Department. K. Satchidanandan had served as the President of the Akademi for the last four years, and his term was scheduled to end in May.

Science and Technology News

DRDO and IAF Test TARA Glide Weapon

The Defence Research and Development Organisation (DRDO) and the Indian Air Force (IAF) conducted the maiden flight trial of the Tactical Advanced Range Augmentation (TARA) weapon system off the coast of Odisha. TARA is India’s first indigenous glide weapon system designed to convert conventional unguided warheads into precision-guided weapons for accurately targeting ground-based objectives. According to the Ministry of Defence, the modular range extension kit was designed and developed by Research Centre Imarat (RCI) along with other DRDO laboratories. The system aims to improve the range and lethality of low-cost aerial weapons.

Reports and Indices

Decline in MGNREGS Workdays in 2025-26

A report released by NREGA Sangharsh Morcha and prepared by LibTech India stated that the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) recorded a decline in scale and employment generation during 2025-26. The number of registered households under the scheme increased by 3.2%, from 14.98 crore to 15.46 crore, but employment generation declined, with 44 lakh fewer households and 67 lakh fewer workers receiving employment compared to the previous year. The total number of workdays generated under the scheme fell by 21.5%, from 268.44 crore person-days in 2024-25 to 210.73 crore person-days in 2025-26. Average workdays per household declined from 50.18 days to 42.92 days. The number of households completing the guaranteed 100 days of employment fell by 40.5%, from 0.37 crore to 0.22 crore. The report estimated an average income loss of ₹1,221 per MGNREGS household. The Viksit Bharat - Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, 2025 is expected to replace MGNREGS, and the Union Government allocated ₹30,000 crore for the transition period. Among the States, Tamil Nadu recorded the highest decline in person-days at 42.8%, followed by Haryana at 41.7%.

NITI Aayog Report on School Education

A decade-long study by NITI Aayog titled “School Education System in India – Temporal Analysis and Policy Roadmap for Quality Enhancement” highlighted challenges in student retention and learning outcomes in India’s school education system. The report stated that India currently has 14.71 lakh schools and 24.69 crore students. While the country has achieved near-universal enrolment at the primary level, only 1.64 lakh higher secondary schools exist compared to 7.3 lakh primary schools, and 4 out of every 10 students drop out before completing higher secondary education. Only 5.4% of schools provide continuous education from Class 1 to Class 12. The report identified 7,993 schools with zero student enrolment, including 3,812 schools in West Bengal and 2,245 schools in Telangana. It recommended establishing Composite Schools covering Classes 1 to 12 under one campus. According to UDISE+ 2024-25, around 1.19 lakh schools lack electricity, 14,505 schools do not have drinking water facilities, and 59,829 schools lack hand-washing facilities. Reading proficiency among Class 8 students declined from 74.7% in 2014 to 71.1% in 2024, while only 45.8% of students could solve basic division problems in mathematics.

NITI Aayog Report on School Infrastructure

The NITI Aayog report titled “School Education System in India” stated that around 1.19 lakh schools in India still lack electricity facilities, while toilets for girls in 98,592 schools are not functional and 61,540 schools do not have toilets at all. The report highlighted that thousands of schools are functioning without water supply, electricity, laboratories and adequate teachers, and some schools have zero student enrolment. It also noted that the dropout rate after primary education remains a major issue in many States. According to the report, only 10–15% of teachers in government schools are able to score above 60% in the subjects they teach. Over the last 10 years, electricity coverage in schools increased from 55% to 91.9%. The report further stated that 14,505 schools lack water facilities and 59,829 schools do not have hand-washing facilities. Only 51.7% of government higher secondary schools have science laboratories. Around 1,04,125 schools in the country function with a single teacher, of which nearly 89% are located in rural areas. India spends 4.6% of GDP on education, compared to around 5.9% in the U.K. and U.S.A., and about 5.4% in Germany and France.

Sports News

Global Chess League to Continue in India

The Global Chess League (GCL), a joint initiative of Tech Mahindra and the world chess governing body FIDE, will hold its fourth edition in India later this year. The third season of the league was conducted in Mumbai in December at the Royal Opera House. It was the first time the league was hosted in India, while the earlier two editions were held in Dubai and London. Grandmaster Pravin Thipsay, coach of the champion team Alpine SG Pipers, supported hosting the league again in India and suggested Chennai as a venue. GCL Commissioner Gaurav Rakshit stated that India’s growing chess ecosystem has made the country an important destination for the league. FIDE President Arkady Dvorkovich said that India continues to play a major role in the global growth of chess.

AIFF Condoles Death of Former Footballer Mohan Singh

The All India Football Federation (AIFF) expressed condolences over the death of former Indian football midfielder Mohan Singh, who passed away on Thursday. He represented India at the international level during the early 1970s and made his senior national team debut against Burma on March 22, 1972, in Rangoon during the pre-Olympic tournament. According to AIFF, he played three matches for the Indian national team during the 1972 pre-Olympic campaign. At the domestic level, he represented Bengal in the Santosh Trophy in 1972. At club level, he played for East Bengal, Mohun Bagan, and Mohammedan Sporting Club. Representing East Bengal in 1972 and 1975, he scored 11 goals and won the Calcutta Football League (1972, 1975), IFA Shield (1972, 1975), Durand Cup (1972), Rovers Cup (1972, 1975), and Bordoloi Trophy (1972). While playing for Mohun Bagan in 1973 and 1974, he won the Durand Cup in 1974. The AIFF President Kalyan Chaubey also paid tribute to him.

Gukesh Defeats Caruana in Rapid Chess Event

World Chess Champion D. Gukesh defeated American Grandmaster Fabiano Caruana in the ninth and final round of the rapid section of the Super Rapid and Blitz Tournament held in Warsaw. With this victory, Gukesh, Caruana, and Poland’s Duda Jan-Krzysztof shared the fourth position with 9 points each. Earlier on the final day, Gukesh lost to French Grandmaster Maxime Vachier-Lagrave and later drew with Slovenia’s Vladimir Fedoseev. American player Hans Moke Niemann won the rapid section with 13 points, while Wesley So secured second place with 12 points and Vladimir Fedoseev finished third with 11 points. The blitz section of the tournament will continue with 18 more rounds.

Aston Villa Reaches Europa League Final After 44 Years

Aston Villa and Freiburg qualified for the final of the Europa League football tournament and will face each other on May 21 for the title. In the semi-final, Aston Villa defeated Nottingham Forest with an aggregate score of 4-1 after winning the second-leg match in Birmingham by 4-0. Goals were scored by Ollie Watkins, Emi Buendia, and John McGinn. This marks Aston Villa’s first appearance in the final of a European continental competition in 44 years. Earlier, the club won the 1982 European Cup by defeating Bayern Munich. In the second semi-final, Freiburg defeated Braga with an aggregate score of 4-3 after winning the second-leg match in Germany by 3-1. Goals for Freiburg were scored by Lukas Kübler and Johan Manlambi.

Economy News

Zepto IPO Approval by SEBI

Quick commerce startup Zepto has received approval from the capital market regulator Securities and Exchange Board of India (SEBI) for its initial public offering (IPO), with an estimated issue size of ₹8,000–₹9,000 crore. The company is expected to file its updated draft red herring prospectus (DRHP) within six to eight weeks. Earlier, Zepto had confidentially filed for an IPO worth ₹11,000–₹12,000 crore in December, though the final valuation and pricing remain undecided. The Bengaluru-based firm currently holds cash reserves of around ₹6,000–₹7,000 crore and operates in competition with quick commerce platforms such as Blinkit and Swiggy Instamart. Zepto’s consolidated losses have declined by 26% year-on-year to ₹800 crore, and the company aims to achieve full-year profitability by FY 2029. During January–March, it handled around 2.4–2.5 million daily orders and operates nearly 1,100 dark stores. The company last raised $450 million in October 2025 at a valuation of $7 billion.