Current Affairs 04 June 2026
Add as a preferred Source on GoogleTable of Contents
National Current Affairs
Navachar Mantra
The Ministry of Skill Development and Entrepreneurship (MSDE) launched “Navachar Mantra”, a national initiative aimed at strengthening grassroots entrepreneurship and supporting innovators from emerging India.
Key Highlights
- Implemented by the National Institute for Entrepreneurship and Small Business Development.
- Technical Knowledge Partner Foundation for Innovation and Technology Transfer
- Identify and support grassroots innovators and early-stage entrepreneurs.
- Promote innovation-driven entrepreneurship.
- Provide mentorship, visibility, funding opportunities, and market access.
- Encourage innovation from Tier-2 and Tier-3 cities, aspirational districts, and underserved regions.
Focus Sectors
The initiative will support innovations in Agritech, Health Tech, EdTech, and Skilling, Climate and Sustainability, Rural Commerce, and MSME Enablement.
Benefits for Selected Innovators
- National-level exposure through innovation showcases and digital campaigns.
- One-year mentorship programme.
- Interaction with policymakers, investors, and industry experts.
- Guidance on Business development, Intellectual Property (IP), Fundraising, Regulatory compliance, Scaling strategies, Opportunities for projects and partnerships.
Economy
The Middle Class Journey: Progress Powered by Policy
The Government of India released a PIB article titled “The Middle Class Journey: Progress Powered by Policy” on 3 June 2026, highlighting the socio-economic transformation of India’s middle class over the last 12 years through reforms in taxation, healthcare, housing, education, infrastructure, digital governance, and financial inclusion.
Key Highlights
- India’s middle class currently constitutes about 31% of the population.
- OECD projections indicate that India may overtake China in the middle-class population between 2030 and 2035.
- Under the new tax regime, individuals earning up to ₹12 lakh annually (₹12.75 lakh for salaried persons) pay zero income tax.
- GST taxpayer base increased from 66.5 lakh (2017) to 1.64 crore (April 2026).
- Operational airports increased from 74 in 2014 to 165 in 2026.
- India now has the world’s third-largest metro rail network.
- Jan Dhan accounts increased from 14.72 crore (2015) to 58.26 crore (May 2026).
- DigiLocker users crossed 69.9 crore as of June 2026.
- Ayushman Bharat has issued 43.52 crore health cards.
- PM Mudra Yojana has disbursed over 57 crore loans worth ₹40.07 lakh crore.
Significance
The report highlights how reforms in taxation, housing, healthcare, digital services, education, entrepreneurship, and infrastructure have improved affordability, financial security, and quality of life for India’s growing middle class.
Low-Income Economies: Up to $1,135 (≈ ₹1.08 lakh) per capita annually.
Lower-Middle-Income Economies: $1,136–$4,495 (≈ ₹1.08 lakh–₹4.27 lakh) per capita annually.
Upper-Middle-Income Economies: $4,496–$13,935 (≈ ₹4.27 lakh–₹13.24 lakh) per capita annually.
High-Income Economies: Above $13,935 (≈ ₹13.24 lakh) per capita annually.
These classifications provide a broad framework for understanding economic development levels and the relative size of the middle class across countries.
Miscellaneous
Bangladeshi Foreign Minister Khalilur Rahman Elected President of the 81st UN General Assembly
Khalilur Rahman has been elected as the President of the 81st Session of the United Nations General Assembly. Khalilur Rahman will assume office in September 2026.
About the United Nations General Assembly (UNGA)
- The UNGA is one of the six principal organs of the United Nations.
- It includes all 193 UN member states.
- Each member state has one vote.
- The President of the General Assembly is elected annually.
Vice President Releases Book “When Audit Matters: CAG Interventions”
“The book When Audit Matters: CAG Interventions That Made a Difference”, edited by former CAG Vinod Rai, was released at Uparashtrapati Bhavan, highlighting the impact of CAG audits on governance and accountability.
Daily Current Affairs Quiz
Q1. Who was recently elected as the President of the 81st United Nations General Assembly (UNGA)?
A. António Guterres
B. Andreas Kakouris
C. Khalilur Rahman
D. Dennis Francis
Show Answer
Answer: C. Khalilur Rahman
Explanation: Bangladesh’s Foreign Minister Khalilur Rahman was elected as the President of the 81st United Nations General Assembly (UNGA), defeating Cypriot diplomat Andreas Kakouris in a secret ballot.
Q2. “Navachar Mantra”, recently launched by the Ministry of Skill Development and Entrepreneurship, is primarily aimed at:
A. Promoting foreign direct investment in manufacturing
B. Strengthening grassroots entrepreneurship and innovation
C. Expanding digital payment infrastructure
D. Developing urban smart cities
Show Answer
Answer: B. Strengthening grassroots entrepreneurship and innovation
Explanation: Navachar Mantra is a national initiative launched by the Ministry of Skill Development and Entrepreneurship (MSDE) to identify, nurture, and support grassroots innovators and early-stage entrepreneurs, particularly from Tier-2 and Tier-3 cities and underserved regions.
Q3. The book “When Audit Matters: CAG Interventions That Made a Difference”, recently released at Uparashtrapati Bhavan, was edited by whom?
A. Shaktikanta Das
B. Rajiv Mehrishi
C. Vinod Rai
D. N. K. Singh
Show Answer
Answer: C. Vinod Rai
Explanation: The book “When Audit Matters: CAG Interventions That Made a Difference” was edited by former Comptroller and Auditor General (CAG) of India, Vinod Rai, and highlights significant audit interventions that improved governance and accountability.
Q4. According to the World Bank’s FY 2026 income classification, an economy with a Gross National Income (GNI) per capita between $4,496 and $13,935 is classified as which of the following?
A. Low-Income Economy
B. Lower-Middle-Income Economy
C. Upper-Middle-Income Economy
D. High-Income Economy
Show Answer
Answer: C. Upper-Middle-Income Economy
Explanation: According to the World Bank’s FY 2026 income classification, economies with a Gross National Income (GNI) per capita between $4,496 and $13,935 are categorized as Upper-Middle-Income Economies. The other categories are: Low Income (≤ $1,135), Lower-Middle Income ($1,136–$4,495), and High Income (> $13,935).
Q5. The World Bank classifies economies annually based on which of the following indicators?
A. Gross Domestic Product (GDP) per capita
B. Human Development Index (HDI)
C. Gross National Income (GNI) per capita
D. Purchasing Power Parity (PPP)
Show Answer
Answer: C. Gross National Income (GNI) per capita
Explanation: The World Bank classifies countries into Low-Income, Lower-Middle-Income, Upper-Middle-Income, and High-Income categories based on their Gross National Income (GNI) per capita, which reflects the total income earned by a country’s residents and businesses.
Frequently Asked Questions
What is Navachar Mantra?
Navachar Mantra is a national initiative launched by the Ministry of Skill Development and Entrepreneurship (MSDE) to identify, nurture, and support grassroots innovators and early-stage entrepreneurs across India.
What percentage of India’s population currently belongs to the middle class?
According to the PIB article, India’s middle class constitutes approximately 31% of the country’s population.
On what basis does the World Bank classify countries into income groups?
The World Bank classifies countries based on Gross National Income (GNI) per capita.
Who was elected President of the 81st Session of the United Nations General Assembly?
Khalilur Rahman of Bangladesh was elected President of the 81st Session of the UN General Assembly.
How often is the President of the UN General Assembly elected?
The President of the UN General Assembly is elected annually.
Disclaimer: This article is prepared for competitive exam preparation using publicly available information.
Join Our Community
Study with the ReadingRoomz Community
Join thousands of APPSC aspirants. Get daily current affairs, MCQs, PDFs, and preparation guidance — all in one place.
