07 May 2026 Current Affairs: Cotton Productivity Mission, IIT Madras Technology Summit, EV Battery Recycling & Major Updates

The Current Affairs of 07 May 2026 cover important developments in agriculture, technology, defence, banking, infrastructure, environment, railways, and corporate affairs. These updates are highly relevant for UPSC, SSC, Banking, Railway, Defence, State PSC, and other competitive examinations.

Union Cabinet Approves ₹5,659.22 Crore Cotton Productivity Mission

The Union Cabinet approved an allocation of ₹5,659.22 crore for the Cotton Productivity Mission. The initiative aims to improve cotton yield, enhance farmer income, promote sustainable farming practices, and strengthen India's position in the global textile industry.

Supreme Court Judge Strength Increased to 38

Following Cabinet approval, the total sanctioned strength of judges in the Supreme Court of India will increase to 38 judges. The move is expected to help reduce case backlogs and improve judicial efficiency.

Government Fixes Sugarcane FRP at ₹365 Per Quintal

The Government of India fixed the Fair and Remunerative Price (FRP) of sugarcane for the 2026–27 season at ₹365 per quintal. The decision is expected to benefit millions of sugarcane farmers across the country.

Dharmendra Pradhan Inaugurates IIT Madras Technology Summit 2026

Union Education Minister Dharmendra Pradhan inaugurated the IIT Madras Technology Summit 2026 at Bharat Mandapam, New Delhi. The summit focuses on artificial intelligence, innovation, engineering, research, startups, and future technologies.

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Ministry of Defence Signs ₹1,476 Crore Contract with BEL

The Ministry of Defence signed a contract worth ₹1,476 crore with Bharat Electronics Limited (BEL) for the procurement of advanced mobile electronic systems for the Indian Army. The project will strengthen battlefield communication and operational capabilities.

India Ranks 5th in Spam Call-Affected Countries

According to the latest Truecaller Report, India ranks fifth among the countries most affected by spam calls. Indonesia secured the first position in the global ranking.

Government Approves ₹18,100 Crore Under ECLGS

The Central Government approved ₹18,100 crore under the Emergency Credit Line Guarantee Scheme (ECLGS) to support the MSME and aviation sectors. The measure aims to boost economic recovery and business growth.

Dorjeelung Hydroelectric Project Located in Bhutan

The Dorjeelung Hydroelectric Project, currently in the news, is located in Bhutan and reflects the growing cooperation between India and Bhutan in the hydropower sector.

India and EU Launch EV Battery Recycling Initiative

India and the European Union launched a ₹169 crore initiative to strengthen EV battery recycling capacity. The initiative supports sustainable mobility, clean energy adoption, and circular economy goals.

The project is expected to play a key role in India's electric vehicle ecosystem and environmental sustainability efforts.

Kumar Mangalam Birla Appointed VIL Chairman

Industrialist Kumar Mangalam Birla has been appointed as the new Non-Executive Chairman of Vodafone Idea Limited (VIL), one of India's leading telecom operators.

South Coast Railway Zone Headquarters Established in Visakhapatnam

The headquarters of the newly formed South Coast Railway (SEcR) Zone has been established in Visakhapatnam, Andhra Pradesh. The new railway zone aims to improve operational efficiency and regional connectivity.

New Ship Repair Facility to Come Up in Gujarat

A state-of-the-art ship repair facility will be established in Vadinar, Gujarat. The project is expected to strengthen India's maritime infrastructure and support the shipbuilding and shipping industries.

New Freshwater Crab Species Discovered in West Bengal

Scientists have discovered a new species of freshwater crab named Indopotamon alipurduarense in West Bengal. The discovery highlights India's rich biodiversity and the importance of ecological conservation.

Mahi River Origin

The Mahi River originates from the Vindhya Range and flows through Madhya Pradesh, Rajasthan, and Gujarat before draining into the Arabian Sea.

What is UDGAM?

The Reserve Bank of India (RBI) developed the UDGAM Portal to help citizens locate unclaimed deposits across banks.

Full Form: Unclaimed Deposits – Gateway to Access inforMation (UDGAM).

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Quick Revision Points

• ₹5,659.22 crore approved for Cotton Productivity Mission.
• Supreme Court judge strength increased to 38.
• Sugarcane FRP fixed at ₹365 per quintal.
• IIT Madras Technology Summit 2026 inaugurated in New Delhi.
• Defence Ministry signed ₹1,476 crore contract with BEL.
• India ranked 5th among spam call-affected countries.
• ₹18,100 crore approved under ECLGS.
• Dorjeelung Hydroelectric Project is located in Bhutan.
• India and EU launched ₹169 crore EV battery recycling initiative.
• Kumar Mangalam Birla appointed VIL Chairman.
• South Coast Railway headquarters established in Visakhapatnam.
• New ship repair facility to be built in Vadinar, Gujarat.
• New freshwater crab species discovered in West Bengal.
• Mahi River originates from the Vindhya Range.
• UDGAM stands for Unclaimed Deposits-Gateway to Access inforMation.

Conclusion

The current affairs of 07 May 2026 highlight major developments in agriculture, technology, defence, infrastructure, biodiversity, banking, and economic policy. Regular revision of these topics can help aspirants improve their performance in competitive examinations and interviews.