CURRENT AFFAIRS 09 June, 2026

CURRENT AFFAIRS 09 June, 2026

1. INDIA RECORDS SURPRISE CURRENT ACCOUNT SURPLUS OF $7.1 BILLION IN Q4 FY26 –

• India has recorded the current account surplus of $7.1 billion in the fourth quarter of FY26 which is equivalent to 0.7% of GDP. It is mainly driven by the service exports, record remittance inflows from Indian who are live abroad and it narrow down the trade imbalance. This numbers are released by the Reserve Bank of India (RBI).

India’s Current Account Surplus in Q4

• As per the latest RBI data, India have posted the current account surplus of $7.1 billion during the period of January-March 2026 (Q4 of FY26).
• This marks significant turnaround from the current account deficit of the $13.2 billion or 1.3% of GDP from the previous quarter.
• The surplus represented the 0.7% of GDP and exceeded market expectations and reflected the strong performance in India’s invisible trade components such as services exports and remittances.

What is the Current Account?

• The current account is the key component of the country’s Balance of Payments (BoP) and records transactions involving the,
• Exports and imports of goods
• Exports and imports of services
• Income from the investments
• Remittances and transfers

2. GOVERNMENT PLANS MEGA LEATHER CLUSTERS IN FOUR STATES –

• The Centre is establishing mega leather, footwear and accessories clusters in Muzaffarpur in Bihar, Sitapur in Madhya Pradesh, Raigad district in Maharashtra, and Ranipet in Tamil Nadu. The combined investment for these clusters is projected at Rs 898 crore, and the projects fall under industrial development initiatives for the leather and footwear sector.

Mega Leather Cluster Framework

• Mega leather clusters are industrial parks for leather products, footwear, accessories and related manufacturing units. Such clusters usually include common infrastructure, industrial plots, logistics facilities and, in some cases, common effluent treatment plants for tannery operations.

3. ZOJILA TUNNEL NEARS BREAKTHROUGH –

• The Zojila Tunnel is a 13.153-kilometre road tunnel under construction in the Himalayas at an altitude of about 11,578 feet, or nearly 3,000 metres, above sea level. The final breakthrough is scheduled for 9 June 2026, and full operational completion is expected by February 2028.

Zojila Tunnel Project

• The tunnel is being built to provide all-weather road connectivity between Baltal near Sonamarg in Jammu and Kashmir and Meenamarg in the Drass-Kargil region of Ladakh. The route across Zojila Pass remains closed for several months each year because of heavy snowfall and avalanches.

4. PRESIDENT MURMU CONFERS KIRTI CHAKRAS AT DEFENCE CEREMONY –

• President Droupadi Murmu conferred seven Kirti Chakras, 15 Vir Chakras and 29 Shaurya Chakras during Phase-I of the Defence Investiture Ceremony 2026 at Rashtrapati Bhawan in New Delhi on 8 June 2026. Indian Air Force Air Commodore Prasanth Balakrishnan Nair, a Gaganyaan astronaut-designate, was among the Kirti Chakra recipients.

Kirti Chakra and Peacetime Gallantry Awards

• The Kirti Chakra is India’s second-highest peacetime gallantry award. It is awarded for courage, devotion to duty and distinguished service, and it is placed below the Ashoka Chakra in the peacetime gallantry order. The Vir Chakra is a wartime gallantry award, and the Shaurya Chakra is a peacetime gallantry award. These awards are conferred on personnel from the Armed Forces, Central Armed Police Forces and State or Union Territory Police.

5. INDIA RANKS FIFTH IN MILITARY SPENDING, SECOND IN ARMS IMPORTS –

• India remained the world’s fifth-largest military spender in 2025 with expenditure of $92.1 billion, and it ranked behind the United States, China, Russia and Germany. India was also the world’s second-largest importer of major arms during the 2021–25 period, with 8.2% of total global arms imports.

Global Military Expenditure

• India’s military expenditure in 2025 rose by 8.9% from the previous year. The United States, China, Russia and Germany were the only countries with higher defence spending in 2025.

India’s Arms Import Profile

• India’s arms imports declined by 4% between 2016–20 and 2021–25. SIPRI linked this fall to India’s growing capacity to design and produce weapons, while also noting delays in domestic production.

MCQ QUIZ

Q1.  Kirthai-II Hydroelectric Project is located in which state/UT ?

1. a) Jammu and Kashmir
2. b) Uttarakhand
3. c) Himachal Pradesh
4. d) Delhi

Q2.  According to National Family Health Survey-6, which State/UT has recorded the lowest Total Fertility Rate (TFR) in India ?

1. a) Kerala
2. b) Andaman and Nicobar Islands
3. c) Lakshadweep
4. d) Sikkim

Q3.  Who became the first Indian to win the Norway Chess title ?

1. a) D. Gukesh
2. b) Viswanathan Anand
3. c) R. Praggnanandhaa
4. d) Arjun Erigaisi

Q4.  Consider the following statements about the PM E-DRIVE (Prime Minister Electric Drive Revolution in Innovative Vehicle Enhancement) Scheme:

1. It is a Centrally Sponsored Scheme implemented by the Ministry of Heavy Industries.
2. It features an e-Voucher system for Aadhaar-authenticated digital subsidy disbursement to ensure transparency.
3. The scheme provides incentives for the procurement of electric buses as well as electric trucks linked to the scrapping of old diesel vehicles.

         Which of the statements given above is/are correct ?

1. a) 1 and 2 only
2. b) 1 and 3 only
3. c) 2 and 3 only
4. d) 1, 2, and 3

Explanation-

• Statement 1 is incorrect: The PM E-DRIVE Scheme is a Central Sector Scheme, not a Centrally Sponsored Scheme. In a Central Sector Scheme, the entire funding is borne by the Government of India. It is implemented by the Ministry of Heavy Industries. [
• Statement 2 is correct: To promote transparency and prevent the misuse of subsidies, the scheme introduces an e-Voucher system. These are Aadhaar-authenticated digital vouchers used to disburse demand incentives directly.
• Statement 3 is correct: The scheme supports the deployment of over 14,000 electric buses in major cities. It also incentivizes electric trucks up to ₹9.6 lakh per vehicle, provided the incentive is linked to the scrapping of old diesel trucks.

Q5.  Consider the following statements regarding the Monetary Policy Committee (MPC):

1. The MPC was given a statutory basis through an amendment to the RBI Act, 1934 in 2016.
2. The MPC consists of six members, including three external members nominated by the Government of India.
3. In the event of a tie during voting, the RBI Governor has a casting vote.

         Which of the statements given above is/are correct ?

1. a) 1 and 2 only
2. b) 2 only
3. c) 2 and 3 only
4. d) 1, 2, and 3

Explanation-

• Statement 1 is correct: The RBI Act was amended in 2016 to provide a statutory framework for the MPC and flexible inflation targeting.
• Statement 2 is correct: The MPC comprises six members, including three external experts nominated by the Government of India.
• Statement 3 is correct: In case of a tie, the RBI Governor exercises a casting vote.

Answer Key