Daily Current Affairs - 07-10-2026

Personalities, Awards and Events

Carnatic Music Competition Organised by Indian Fine Arts Society

The annual music competition organised by the Indian Fine Arts Society was held in Chennai on September 19, 2026, with more than 75 students participating in the Junior Category (10–15 years) and Senior Category (15–20 years). More than 20 students were selected for prizes. Tanjore tamburas were awarded to the first-place winners in the Tyagaraja and Muthuswami Dikshitar Kirthana categories. The associated festival featured concerts of kirthanas composed by Muthuswami Dikshitar, G.N. Balasubramaniam, Swathi Thirunal, Papanasam Sivan, Syama Sastri, Annamacharya, and Purandara Dasa. K.V. Ramachandran is the President of the Indian Fine Arts Society, while K. Venkatrangam is its Vice President and R. Radhakrishnan is its Honorary Secretary.

Nobel Prize in Physics 2026: Francis Halzen Honoured for Neutrino Research

The 2026 Nobel Prize in Physics was awarded to Belgian scientist Francis Halzen (82) for his research on high-energy neutrinos originating from intense astronomical events and his contributions to the IceCube Neutrino Observatory at the South Pole in Antarctica. Halzen, born in Belgium, is a professor at the University of Wisconsin–Madison, USA. The IceCube Neutrino Observatory is associated with the study of neutrinos, which are extremely low-mass subatomic particles produced by sources including the Sun and other stars. The 2026 Nobel Prize in Physics carries a prize amount of US$1.2 million (approximately Rs. 11.56 crore). The Nobel Prizes have been awarded since 1901 according to the will of Alfred Nobel, the Swedish scientist who invented dynamite, and the awards are presented annually on December 10, the anniversary of his death.

Economy News

UPI Transaction Fee Rules from October 15

Unified Payments Interface (UPI) has become a major component of India’s digital payment system, accounting for 85% of total digital transactions according to the source. The National Payments Corporation of India (NPCI) has issued guidelines concerning the share of private entities in UPI transactions and has planned features such as offline payments, internet-free payments and enhanced security. A fee of 0.4% for UPI transactions above ₹2,000, subject to a maximum of ₹300, is stated to come into effect from October 15 for merchants. For payments above ₹2,000 towards railway, telecommunications, insurance, petrol and diesel charges, a fixed ₹5 MDR (Merchant Discount Rate) is stated to apply, including GST. In the United States, payment applications such as PayPal, Zelle and Venmo are used for digital payments, while merchants generally pay processing fees when credit cards or debit cards are used. According to the source, US merchants paid $198.25 billion in transaction fees in 2025, which was 5.9% higher than the previous year. The Merchants Payments Coalition is mentioned in connection with merchant payment fees. The Union Ministry of Finance has stated that revenue collected through the merchant fee would be used to expand and upgrade UPI transaction infrastructure, with 5% of the fund allocated to a separate fund for encouraging UPI usage.

Rs. 10,000 Crore SME Growth Fund Approved by Union Cabinet

The Union Cabinet, chaired by Prime Minister Narendra Modi, on October 6, 2026, approved the establishment of a Rs. 10,000 crore Small and Medium Enterprises (SME) Growth Fund to support growth-oriented investments in small and medium enterprises, particularly in the manufacturing sector. The fund will be jointly operated by the Ministry of Micro, Small and Medium Enterprises (MSME) and the Ministry of Finance through the existing SME framework as an Alternative Investment Fund (AIF), with investments also targeted at enterprises in Tier-2 and Tier-3 cities. The Cabinet also approved the establishment of the Integrated Transport-Cargo Handling Commission (JITGL) under the Department for Promotion of Industry and Internal Trade (DPIIT) to coordinate research, planning, impact assessment and monitoring across road transport, railways, ports, aviation, waterways, urban connectivity and cargo handling; the commission will monitor transport and infrastructure projects valued at Rs. 500 crore and above and integrate related data. The Union Cabinet also passed a resolution marking 25 years of Prime Minister Narendra Modi's public service as head of government from October 7, 2001 to October 7, 2026, covering his tenure as Chief Minister of Gujarat and Prime Minister of India.

World Bank Raises India’s FY 2026–27 Growth Forecast to 7.1%

The World Bank raised its forecast for India’s economic growth in FY 2026–27 to 7.1%, up from its earlier estimate of 6.6% made in April 2026, reflecting strong domestic demand and exports. The World Bank identified private consumption as a major driver of growth and noted that agricultural and industrial performance would influence economic activity. It projected India’s growth at 7.2% in FY 2027–28 and 7.0% in FY 2028–29. The World Bank also identified GST reforms, relaxation of FDI regulations, labour reforms and improved access to credit for MSMEs as measures that could support economic growth. Other international institutions, including the Asian Development Bank (ADB), S&P, Fitch and OECD, also raised their growth forecasts for India for FY 2026–27 to around 7%–7.1%.

Centre to Propose Five-Pronged GST Reform Plan

The Central Government will propose a five-pronged reform plan for the Goods and Services Tax (GST) at the upcoming GST Council meeting on Thursday, focusing on process reforms, structural reforms, ease of living and doing business, export of services, and e-commerce. The proposals aim to reduce compliance burden, particularly for small businesses, and benefit small taxpayers, inter-State businesses, and service exporters. Under the proposed reforms, small taxpayers supplying only to consumers may be permitted to file GST returns annually instead of monthly; rules may be amended to classify services provided to foreign clients through an overseas branch as exports of services; the Invoice Management System may be upgraded to automatically reflect seller-side changes in the buyer’s invoice and reduce invoice mismatch notices; and Input Tax Credit (ITC) protection may be strengthened for buyers who possess a valid invoice and have paid the supplier the full amount including tax, irrespective of tax payment by suppliers further up the supply chain. GST on Merchant Discount Rate (MDR) for UPI transactions will not be included in the agenda of the meeting. If approved by the GST Council, the reforms will be implemented in a staggered manner.

Sports News

2036 Olympics: India Among 7 Interested Host Nations

The International Olympic Committee (IOC) has stated that India, Germany, Hungary, Qatar, South Korea, South Africa and Turkey have expressed interest in hosting the 2036 Olympic Games. The interested countries have been invited to submit their hosting plans to the IOC Future Host Commission in November. India has not hosted the Olympic Games so far, and Ahmedabad has been identified as India’s primary choice to host the 2036 Olympics. India submitted its letter of intent to the IOC in 2024 to host the Games. The IOC introduced a new procedure for selecting Olympic host cities in June. Under this procedure, a project explanation meeting will be held in November, followed by the submission of a report by the Future Host Commission to the IOC. In mid-2029, the IOC Executive Board will select the interested cities and present the list for IOC voting, with the country winning the vote receiving the opportunity to host the 2036 Olympic Games.

National News

Ashutosh Dixit Appointed as New Indian Air Force Chief

Air Marshal Ashutosh Dixit has been appointed as the new Chief of the Indian Air Force. The incumbent Air Chief Marshal A.P. Singh is scheduled to retire on October 31. Ashutosh Dixit has played a key role in promoting indigenous fighter aircraft such as Tejas and domestic aviation projects in the Indian Air Force. He has more than 3,500 hours of flying experience on aircraft including Mirage-2000, MiG variants, Kiran, Jaguar, Il-78, Hawk and Tejas. During his nearly four-decade defence career, he participated in major military operations including Operation Safed Sagar during the Kargil War, Operation Rakshak, and Operation Sindoor.

Tamil Nadu News

Annan Seer Scheme: Gold Coin and Silk Saree for Brides

The Tamil Nadu Government has issued a Government Order (G.O.) approving the implementation of the Annan Seer Scheme through the Social Welfare Department. Under the scheme, brides from families with an annual income of up to ₹2.5 lakh will be provided an 8-gram (22-carat) gold coin and one silk saree. The government has accorded administrative sanction for implementing the scheme and allocated an initial amount of ₹812 crore in the current financial year. The scheme will apply to marriages taking place from the date of publication of the Government Order, and a dedicated web portal will be launched for its implementation. M. Balvidev, Secretary of the Social Welfare Department, issued the Government Order.

Science and Technology News

Indigenous Navy Support Ship ‘Surya’ Dedicated to the Nation

On October 6, 2026, Defence Minister Rajnath Singh dedicated the indigenously built Indian Navy support ship Surya (FSS-1) to the nation at Hindustan Shipyard Limited (HSL), Visakhapatnam, Andhra Pradesh, and launched the construction of FSS-5, the fifth ship in the planned series of five 43,500-tonne Fleet Support Ships (FSS) for the Indian Navy. The ships are designed to transport essential supplies such as fuel, ammunition, fresh water and dry food for naval vessels. The event also included the inauguration of the upgraded Slipway-4 and the commissioning of an indigenously manufactured 300-tonne crane, which will support shipbuilding and launching operations for large vessels. Krishna Swaminathan, Chief of the Naval Staff, participated in the event. In a related development, Rajnath Singh participated at Koraput, Odisha, in the handover of the 2,000th military aircraft engine manufactured by Hindustan Aeronautics Limited (HAL) and announced the establishment of a helicopter engine manufacturing plant named ‘Shakti’ at Sunabeda, Odisha.

India Focuses on Interrupting Leprosy Transmission Under 2023–2027 Roadmap

India is implementing the National Strategic Plan (NSP) and Roadmap for Leprosy 2023–2027 to interrupt leprosy transmission. In 2005, India’s leprosy prevalence fell below 1 case per 10,000 population, following which the World Health Organization (WHO) declared leprosy eliminated as a public health problem in India. According to the 2025–26 National Leprosy Elimination Programme report, India accounted for around 46% of global leprosy cases among children in 2025. Chhattisgarh, Jharkhand, Odisha and Maharashtra are among the states with a high disease burden. Of the targeted 300 districts, 148 districts had achieved the status of interruption of transmission, subject to field verification. More than 70 crore people were screened in highly endemic areas, detecting 24,367 cases, while ASHA workers identified nearly 40 lakh suspected cases, of which 48,027 cases were confirmed. Single-dose rifampicin post-exposure prophylaxis was administered to 91.1% of 16.9 lakh identified contacts. Digital surveillance is being operationalised, and the use of the MIP (Mycobacterium indicus pranii) vaccine is being considered for highly infectious cases. The 2025–26 report recorded overall incidence 41% above the projected level, child incidence 91.6% above the projection, and the Grade-2 disability rate 34% above the projection.

NASA Plans Nuclear Reactor Near Moon’s South Pole by 2030

NASA plans to install a 20-kilowatt (kW) nuclear reactor near the Moon’s south pole by 2030 to provide continuous power for future lunar facilities, including heating, life-support systems and rover battery charging. Russia is planning a 10-kW nuclear reactor for the International Lunar Research Station (ILRS) led by China, while European scientists are also researching lunar microreactors. Nuclear power is considered suitable for the Moon’s polar regions because some areas experience prolonged darkness and temperatures in permanently shadowed craters can fall below -200°C. These craters contain water ice, which can be used for drinking water and for producing hydrogen and oxygen through electrolysis. A 2020 NASA assessment by scientists Julie Kleinhenz and Aaron Paz estimated that producing 10 tonnes of oxygen from lunar water would require about 68 kW of power. A NASA-commissioned study has recommended locating lunar nuclear reactors at least 1 kilometre away from humans. The Outer Space Treaty, 1967 prohibits countries from claiming the Moon or other celestial bodies as national territory, while the Artemis Accords provide for temporary safety zones to prevent harmful interference with space activities. The Artemis programme and ILRS face technological challenges involving reactor shielding, transportation, power cables, heat management and safe operation on the lunar surface.