Daily Current Affairs – May 2, 2026

West Asia War: India's economy began the new fiscal year with a powerful surge. GST collections reached a record high in April. Passenger car sales also saw a substantial increase. Digital transactions through UPI experienced significant growth. These positive indicators suggest the economy is resilient, with no immediate impact from the West Asia war.

India is discussing ethanol exports with Nepal and other SAARC countries. This initiative aims to support farmers and strengthen the rural economy. Higher ethanol blending levels could lead to significant foreign exchange savings. The government is also engaging with auto manufacturers for flex-fuel vehicle introductions. Consumer awareness and pricing will be key for wider adoption.

Petroleum Minister says India has remained resilient even after 60 days of supply disruption and attributed the stability to long-term planning and timely policy interventions by the government

The MoU for a foreign language communication skills programme was signed between the State government and the English and Foreign Languages ​​University, Hyderabad, in the presence of Union Education Minister Dharmendra Pradhan

Spirit Airlines is reportedly nearing operational shutdown after failing to secure a bailout plan involving bondholders and the U.S. government. Disagreements over financing terms and a sharp increase in jet fuel prices due to the war in Iran have derailed the discount carrier's recovery efforts.

Corporate governance firm InGovern Research Services urged the RBI to reject Tata Sons' application to deregister as a Systemically Important CIC. The firm argues that regulatory changes and Tata Sons' structural linkage to public funds via listed group entities make its bid untenable, advocating for an IPO by March 2027.

India is exploring partnerships with private equity firms including Blackstone and Brookfield to set up Reits aimed at monetizing fiber networks and land assets held by state-run companies, in a push that could also open the door to data centre-linked infrastructure plays.

RBI Governor Sanjay Malhotra flagged persistent issues such as limited product diversity in interest rate derivatives and underdevelopment of credit derivatives.

Lakshya, who kept on trailing for the better part of the contest, showed remarkable resilience to script an 18-21, 22-20, 21-17 victory in a marathon clash lasting one hour and 28 minutes