Daily Current Affairs 05 June 2026 – IAS Current Affairs

Current Affairs 05 June 2026 focuses on the Prelims-Mains perspective. Major events are :

India-Venezuela Relations

Source: Indian Express
GS II: Bilateral, Regional and Global Groupings and Agreements involving India and/or affecting India’s interests

Overview

1. News in Brief
2. Key Highlights
3. India-Venezuela Relations
4. About Venezuela

Why in the News?

Venezuela’s President Rodriguez is on a five day official visit to India (3-7 June 2026) during which she held talks with Indian Prime Minister on strengthening cooperation on areas of mutual interests.

News in Brief

• Venezuela’s acting President Delcy Rodriguez and Indian Prime Minister Narendra Modi had discussions on strengthening cooperation in energy, critical minerals, technology, agriculture, healthcare and people-to-people ties.
• Discussions also focused on long-term energy partnership.
• The visit marks a significant development and strengthens India-Venezuela bilateral relations and strategic cooperation.

Key Highlights

On Energy Pacts

• India is among the world’s fastest-growing energy consumers, with oil demand expected to remain strong in the coming decades.
• India has a long standing energy partnership with Venezuela since 2008.
• Venezuela possesses one of the largest proven oil reserves in the world, making it a potential long-term energy partner for India .
  • • • Venezuela emerged as the third largest supplier in April and May this year (in India’s spot purchases).
• Recent discussions emphasized establishing a long – term energy partnership covering upstream and downstream activities.

On Critical Minerals, trade and agriculture

• Both  countries are looking to invest in mining, agriculture, transportation, critical minerals and other area of mutual interests.
• Expressed interests in expanding economic engagement beyond oil.

On healthcare and pharmaceuticals

• India is globally recognized as the “Pharmacy of the world”.
• Recent discussions highlighted India to provide high quality generic drugs at low cost to their healthcare system.

India-Venezuela Relations

Historical Background

• Diplomatic relations between India and Venezuela were established in 1959.
• The bilateral relations received major boost during the 2005 state visit of Venezuela’s President Hugo Chavez to India.
• Both countries cooperated in forums such as Non-Aligned Movement.
• The two countries are marking  its 67 years of bilateral ties in 2026.

Political Relations

• Recent high-level exchanges include:
  • UN and NAM Summits- meetings between Hon’ble EAM, Dr. S. Jaishankar and Venezuelan foreign ministers
  • Multiple visits (at least 6 times) by Venezuela’s acting President Delcy Rodriguez to India, in the past.
  • Venezuelan delegations participated in India Energy Week and Business Conclaves.
  • Signed MoU on sharing population-scale digital solutions for digital transformation in 2025.

Economic Relations

• Major Indian Exports- Pharmaceuticals, machinery and mechanical appliances, cotton, chemicals and other industrial products.
• Major Imports from Venezuela- Crude oil and petroleum products, Iron and steel, Aluminium and copper, minerals and raw materials and among others.
• Trade is heavily influenced by crude oil imports from Venezuela.
• On Energy cooperation;
  • ONGC Videsh Limited holds a 40% stake in the San Cristobal Oil project through a joint venture with Venezuela.
  • Indian public sector companies have participated in major oil projects in the Orinoco belt.
  • Reliance Industries Limited imports Venezuelan crude under a 15 year crude supply contract.

Cultural and Educational Relations

• Growing popularity of Ayurveda and Yoga in Venezuela.
  • The International Day of Yoga is celebrated every year, since 2015.
  • The First AYUSH Information Cell of Venezuela was established.
• Indian Film Festivals and Bollywood movies screening attracts local audiences.
• Cultural centers were established in Venezuelan Universities.
• Venezuelan professionals regularly receives training under Indian Technical and Economic Cooperation Program.
• Scholarships are provided through Indian Council for Cultural Relations.

Indian Community in Venezuela

• Around 50 NRIs and 30 Persons of Indian Origin (PIOs) reside in Venezuela.
• Despite the small community, they share a deep cultural and economic ties.

About Venezuela

• Venezuela is a diverse South American nation.
• Known for its immense oil reserves in the world, mainly concentrated in the Orinoco Belt.
• Petroleum is the backbone of Venezuela’s economy.
• Located on the northern coast of the continent.
• It borders Columbia (West), Brazil (South) and Guyana (East).
• It has a long coastline along the Caribbean Sea and the Atlantic Ocean.
• Orinoco River: One of the South America’s longest rivers and major waterway of Venezuela.
• In recent years, the country has faced severe economic and political crisis.
• Despite its economic challenges, Venezuela is an important player in the global energy markets with its proven oil reserves.
• It is a founding member of the Organization of the Petroleum Exporting Countries, making it significant in global energy markets.

Biodiversity Of India

Source: PIB
GS III: Conservation, Environmental Pollution and Degradation, Environmental Impact Assessment

Overview

1. News in Brief
2. Biodiversity and its significance
3. India’s Biodiversity Framework
4. Key Conservation Mechanisms
5. Major Achievements

Why in the News?

Press Information Bureau released its article on “India’s Biodiversity: Commitments and Achievements”, covering legal frameworks to local action.

News in Brief

• According to the PIB release, India has established over 2.76 lakh Biodiversity Management Committees (BMCs) and prepared more than 2.72 lakh People’s Biodiversity Registers (PBRs).
• Strengthened ecological resilience and local stewardship.
• India’s biodiversity conservation efforts ensured alignment with global biodiversity goals under the Convention on Biological Diversity (CBD).

Biodiversity and its significance

• Biodiversity refers to variety of life forms on earth including plants, animals, microorganisms and the ecosystem they form.
• It is central to the health of environment and acts as the foundation of ecological balance.
• It supports essential ecosystem services.
  • Includes; Pollination, soil formation, nutrient cycle, water purification and climate regulation.
• Supports lives and livelihood.
  • Food production, water and air, medicines, disaster and climate resilience.

India’s Biodiversity Framework

• Promotes fair benefit sharing while aligning national priorities with global biodiversity commitments.

The Biological Diversity Act, 2002 (Amended in 2023)

• The  Act serves as India’s principal legal framework for;
  • Conservation of biological diversity.
  • Documenting and protection biological resources and associated traditional knowledge.
  • Sustainable use of biological resources.
  • Fair and equitable sharing of benefits.
• The 2023 Amendment strengthened implementation aligned with current needs, promoted research and innovation, enhanced community participation and supported traditional knowledge based practices.
• Adopted three-tier biodiversity governance model, which helps to carry global and national biodiversity conservation goals to village, towns and cities.
  • National Level- National Biodiversity Authority (NBA).
  • State/UT Level – State Biodiversity Boards (SBBs) and UT Biodiversity Councils.
  • Local Level – Biodiversity Management Committees (BMCs).
• National Biodiversity Authority Fund (NBAF) is a statutory body created under Section 27 of Biological Diversity Act, supports biodiversity governance.

Key Conservation Mechanisms

Nagoya Protocol

• Adopted during COP10 of the CBD in Nagoya, Japan.
• Legally binding mechanism.
• Ensures fair and equitable sharing of benefits arising from the utilization of generic resources and associated traditional knowledge.
• India has submitted its First National Report on Implementation of the Nagoya Protocol.

People’s Biodiversity Register (PBR)

• A local biodiversity database prepared with community participation.
• It is an  essential tool for documentation, stronger conservation action and benefit sharing.
• More than 2.72 lakh PBRs have been prepared nationwide.

National Biodiversity Strategy and Action Plan (NBSAP) 2024-2030

• It translates global biodiversity commitments into national priorities.
• Provides a roadmap for conserving biodiversity and sustainable use of biological resources.
• Promote coordinated action across ministries, institutions and local bodies.
• The updated NBSAP aligns with the Kunming Montreal Global Biodiversity Framework (KMGBF) which highlights  its international relevance.

Access and Benefit Sharing Mechanism (ABS)

• Ensures that benefits derived from biological resources are shared with local communities.
  • 12,830 ABS approvals issued between 2017 and 2026.
  • around 11,000 Biodiversity Management Committees benefited.
  • nearly rupees 145 crore has been released to beneficiaries.

Major Achievements

• Expansion of forests and tree cover – reached approximately 8.27 lakh sq.km, accounting for 25.17% of India’s total geographical area.
• Growth of Protected area network –  India has over 1000+ protected areas, covering nearly 1.75 lakh sq.km, providing habitats for wildlife  and ecosystem conservation.
• Strengthened species conservation (flagship species) – Increased tiger population from 2,226 in 2014 to 3.682 in the latest estimate.
• Deepened community participation – Over 2.6 lakh Biodiversity Management Committees established.
  • Nationwide digitization of People’s Biodiversity Registers through e-PBR initiative and prepared over 2.72 lakh PBRs.
  • Empowered communities as key partners in biodiversity stewardship.

Way Ahead

• Update strategies aligning with current needs.
• Strengthen species recovery programs.
• Enhance investment in biodiversity finance and ecosystem restoration.
• Encourage community-led conservation (local stewardship).

Empowering India’s Farmers

Source: PIB
GS III:  Inclusive Growth and issues arising from it.

Overview

1. News in Brief
2. Key Highlights
3. Some of the major Government Initiatives

Why in the News?

The Press Information Bureau highlighted how India transformed its agricultural sector over the last 12 years.

News in Brief

• India’s agriculture sector has witnessed an expansion in farmer’s empowerment.
• Improved market access, higher investments, technology-driven reforms, food security, and climate- resilient farming.
• One among the four pillars of India’s Vision under Viksit Bharat – Empowering India’s Annadata (Farmers).

Key Highlights

• Agricultural Growth – The agricultural sector contributes about 18% of India’s Gross Value Added (GVA).
  • Agriculture and allied sector GVA increased from rupees 20.9 lakh crore (2014-15) to rupees 48.7 lakh crore ( 2023-24).
• Growth in Food grain production – Increased from 265.05 million tons (2013-14) to 357.73 million tons ( 2024-25).
• Increased budgetary support – Budget allocation for the Department of Agriculture and Farmers Welfare increased from rupees 27,663 crore (2013-14) to rupees 1.40 lakh crore (2026-27).
• Farmer Income Support – Under PM-KISAN, eligible farmers receive rupees 6 thousand annually through Direct Benefit Transfer (DBT).
  • More than rupees  4.28 lakh crore has been transferred to over 9.44 crore farmers.
• Crop Insurance Coverage – Under PM Fasal Bima Yojana (PMFBY);
  • More than 4 crore farmers insured annually.
  • Claims worth rupees 1.96 crore disbursed.
• MSP and Procurement Expansion –
  • MSP is fixed at least 50% above production cost since 2018-19.
  • MSP value reached rupees 26.32 lakh crore during 2014-26.
  • Agricultural procurement increased by 76% between 2014 and 2026.
• Expansion of agricultural credit – Kisan Credit Card (KCC) accounts increased from 6.46 crore to 7.81 crore.
• Sustainable Agriculture –
  • Nearly 26 crore Soil Health Card issued.
  • 2,996 climate-resilient crop varieties released.
  • 9 lakh hectares brought under Natural Farming.
• Solarisation of Agriculture – Under PM-KUSUM scheme, over 21.77 lakh farmers benefited.
• Strengthening of Cooperatives and FPOs –
  • 10,000 Farmer Producer Organizations (FPOs) were registered nationwide.
  • Over 8.4 lakh cooperatives are covered under National Cooperative Database.
• Agricultural Infrastructure –
  • e-NAM integrated 1,656 mandis with over 1.8 crore registered farmers.

Some of the major Government initiatives

• PM Krishi Sinchayee Yojana (PMKSY) – to expand irrigation coverage and improve water use efficiency.
• PM Kisan Samriddhi Kendras (PMKSK) – One-Stop centres for providing fertilizers, seeds, soil testing and advisory services to farmers.
• PM Dhan- Dhaanya Krishi Yojana (PMDDKY) – enhancing agricultural productivity and sustainable development in low-performing agricultural districts.
• PM Formalisation of Micro Food Processing Enterprises ( PMFME) Scheme- supports micro food processing units through credit linked subsidies, training, and market access assistance.

These initiatives of the Government laid foundation for more resilient, inclusive and sustainable agriculture sector, and empowered Annadatas.

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