Today Current Affairs 29 October 2026 – Compiled from official public sources (PIB, Akashvani, DD News). Important news and authentic facts for UPSC, SSC, UPPSC, Defence, Banking and State competitive exams.
Awards and Honors
UAE President Honours FlyDubai Pilot Captain Smit Machchhar with Top Civilian Award
UAE President Sheikh Mohamed bin Zayed Al Nahyan conferred the First Class Order of Zayed II on Captain Smit Machchhar and flydubai crew members in the United Arab Emirates on 28 October 2026.
- The decoration is recognized as one of the highest civilian bravery awards in the United Arab Emirates.
- The award was granted in acknowledgment of the crew’s courageous actions to protect passengers during a dangerous mid-air incident.
- Captain Smit Machchhar served as the lead pilot of the flydubai flight involved in the attack.
Economy
India Becomes World’s Third Largest Automobile Industry
Union Minister Nitin Gadkari announced on 29 October 2026 that India’s automobile industry has overtaken Japan to become the third largest globally.
- The total valuation of the Indian automobile industry has reached 22 lakh crore rupees.
- The Union Minister for Road, Transport and Highways expressed confidence that the sector will eventually become the largest automobile industry in the world.
Government releases ₹1,000 crore PMEGP subsidy to support micro-enterprises
The Ministry of Micro, Small and Medium Enterprises released ₹1,000 crore in Margin Money subsidy under the Prime Minister’s Employment Generation Programme during a special function held in New Delhi on 29 October 2026.
- The financial allocation is disbursed as a Margin Money subsidy aimed at supporting the growth and establishment of micro-enterprises across the country.
- The disbursement event was officially conducted by the Union Minister for Micro, Small and Medium Enterprises, Jitan Ram Manjhi.
US Federal Reserve Holds Benchmark Interest Rate Steady at 3.9%
The US Federal Reserve announced in Washington, D.C., on 29 October 2026, that it has kept its benchmark interest rate unchanged following its two-day monetary policy meeting.
- The target range for the benchmark interest rate was maintained between 3.75 per cent and 4.00 per cent.
- The average effective interest rate stands at approximately 3.9 per cent.
- The decision to hold rates steady was taken despite persistently high and elevated inflation levels.
Alphabet Reports Q3 Revenue Rise Amid Market Slump
Alphabet Inc., the parent company of Google, announced a 25 percent year-over-year increase in third-quarter revenue, surpassing 127 billion dollars, on 29 October 2026.
- The financial figures reported by Alphabet remained below Wall Street expectations, causing company shares to decline by approximately 9 percent in after-hours trading.
- The technology giant’s net income experienced a significant drop, falling to over 26 billion dollars compared to nearly 35 billion dollars in the corresponding previous period.
India’s Industrial Output Grows by 6.7% in September 2026
The Ministry of Statistics and Programme Implementation released data in New Delhi on 28 October 2026, revealing that India’s Index of Industrial Production (IIP) grew by 6.7 per cent on an annual basis in September 2026.
- The industrial activity experienced a month-on-month slowdown compared to the previous period.
- The IIP growth for August was downwardly revised to 7.8 per cent.
Government Schemes
Prime Minister Chairs 54th PRAGATI Meeting
Prime Minister Shri Narendra Modi chaired the 54th meeting of the PRAGATI platform at Seva Teerth on 29 October 2026 to review major developmental and welfare initiatives.
- The reviewed infrastructure projects spanned across Railways, Ekta Malls, and Drug Parks covering 31 States and Union Territories with a total cumulative cost exceeding Rs 16,000 crore.
- Bulk Drug Parks located in Andhra Pradesh, Gujarat, and Himachal Pradesh were evaluated with a specific emphasis on prioritizing domestic production of active pharmaceutical ingredients and essential inputs.
- Official data highlighted that sustained governance and welfare delivery efforts have successfully enabled nearly 25 crore people to move out of multidimensional poverty.
International
Israel Election Early Trends Show Netanyahu’s Bloc Falling Short of Majority
According to the Central Elections Committee, preliminary election results released in Israel on 28 October 2026 indicated that incumbent Prime Minister Benjamin Netanyahu’s bloc remained short of a parliamentary majority as vote counting continued.
- A total of 61 seats are required for a majority in the 120-member Israeli parliament, known as the Knesset.
- With 93 percent of ballot boxes counted, Netanyahu’s bloc was projected to win 53 seats, while the opposition bloc led by Gadi Eisenkot was projected to secure 48 seats.
- Arab-led parties were projected to secure 19 seats, and the remaining seven percent of ordinary ballots required additional oversight by the Central Elections Committee.
National
Union Cabinet Decisions – 28 October 2026
The Union Cabinet approved the Container Manufacturing Promotion Scheme to boost domestic production in New Delhi on 29 October 2026.
- Dearness Allowance (DA/DR): Increased by 3 percentage points, from 60% to 63%, effective 1 July 2026,
- Container Manufacturing Promotion Scheme: Approved an outlay of ₹10,000 crore to develop domestic shipping-container manufacturing capacity and generate employment.
- Pradhan Mantri Viksit Gram Swaraj Yojana (PM VGSY): Approved ₹7,395.55 crore for 2026–27 to 2030–31 to strengthen Panchayati Raj institutions and rural governance.
- Khelo India Sports Goods Manufacturing Scheme: Approved ₹1,856.67 crore for 2026–27 to 2033–34 to promote sports goods manufacturing, research and innovation in India.
Sports
Indian Wrestlers Win Silver at World Wrestling Championships
Indian wrestlers Neelam Sirohi and Kajal Dhochak clinched silver medals at the World Wrestling Championships in Astana, Kazakhstan, on 28 October 2026.
- Neelam Sirohi competed in the women’s 50kg category and lost 5-nil in the final to Japanese wrestling legend Yui Susaki.
- Neelam Sirohi is 26 years old.
- Kajal Dhochak also secured a silver medal after suffering a narrow defeat in her respective category.
Abhishek Sharma Claims Top Spot in ICC Men’s T20I Batting Rankings
Indian opener Abhishek Sharma attained the number one position in the ICC Men’s T20I batting rankings released on 28 October 2026.
- Compatriot Ishan Kishan slipped from the top position down to third place in the latest rankings.
- Pakistan batsman Sahibzada Farhan climbed to the second position in the batting standings.
- Abhishek Sharma’s ascension to the top spot followed his recent achievement of scoring his fourth T20I century.