Current Affairs 15 May 2026

India Aims to Project Power Across the Indo-Pacific by 2047.

Defence Forces Vision 2047 aims to build a multi-domain military with phased transformation up to 2040 and excellence thereafter.
Mission Sudarshan Chakra will create a layered missile defence shield in the 2030s.
India plans new forces for drones, data, and cognitive warfare.
New institutions include a defence geospatial agency, space command, and cyber-command.
Military modernisation is linked to India’s goal of becoming a $30 trillion economy by 2047.
Focus on strategic autonomy and multi-alignment to address two-front security challenges.
Defence Procurement Manual 2025 removes public sector reservation to reform defence procurement.

Moody’s lowered India’s GDP growth forecast to 6% for both 2026 and 2027.
Downgrade driven by weak private consumption, lower investment, and slower industrial growth.
Rising fuel and fertilizer costs may strain government finances and capital expenditure.
India imports nearly 90% of its energy needs, increasing vulnerability to global disruptions.
Around 60% of LPG imports pass through the Strait of Hormuz, a key strategic chokepoint.
Ongoing geopolitical tensions and shipping disruptions threaten global supply chains.
India is increasing Russian crude oil imports to reduce dependence on the Strait of Hormuz.

Punjab launched Meri Rasoi Yojna to provide free nutritional food kits to nearly 40 lakh poor families.
Food kits will be distributed every three months and include mustard oil, pulses, sugar, salt, and turmeric.
Under Mawan Dheeyan Satkar Yojna, eligible women above 18 years will receive monthly financial assistance.
Assistance amount: ₹1,000 for general category women and ₹1,500 for Scheduled Caste families.
Punjab replaced biometric authentication with photograph-based verification for welfare schemes to avoid fingerprint-related issues.

MeitY launched the IP Catalyst initiative and a unified digital platform on 12 May 2026 in New Delhi.
The platform cipie.in will serve as a national repository for technologies developed through government-supported R&D.
Implemented by C-DAC Pune with support from MeitY.
Provides financial support for domestic and international patent filing, especially for startups and MSMEs.
Aims to bridge the gap between public research and industry commercialization.
India recorded 1,43,729 patent filings in FY 2025–26, with the electronics and IT sector showing 52% growth.

Gujarat CM Bhupendra Patel inaugurated the India Aircraft Leasing and Financing Summit 2.0 at GIFT City.
The summit focused on expanding aircraft leasing and financing in India’s financial sector.
International Financial Services Centres Authority acts as the unified regulator for financial activities in India’s IFSCs.
GIFT City is India’s first operational greenfield smart city and International Financial Services Centre (IFSC).