Current Affairs

The United States unveiled fresh tariff slabs

The United States unveiled fresh tariff slabs of 10 and 12.5 percent on several economies under its Section 301 on 24 July 2026. India has been placed in the lower 10 tariff category.

Production Linked Incentive Schemes

The Government said that the Production Linked Incentive (PLI) Schemes have attracted investments of more than Rs.2.40 lakh crore and generated over 14.15 lakh jobs as of March 31, 2026

Unified Payments Interface

Indias Unified Payments Interface (UPI) continued its rapid expansion in 2025-26, with the number of onboarded users reaching 55.49 crore as of June 2026, according to information shared by the government in Parliament.

EXIM Bank of India

EXIM Bank of India has presented a Rs.428 crore dividend cheque to Finance Minister Nirmala Sitharaman for financial year 2025-26.

Leading Bio Economy

The NITI Aayog released a report titlrd, Roadmap for Building India as a Leading Bio Economy Powerhouse by 2035 on 16 July 2026.

Mergent joins the unicorn list.

AI software platform Emergent has turned unicorn with a $130 million Series C funding

India Semiconductor Mission

The Union Cabinet, chaired by Prime Minister Narendra Modi, on 15 July 2026 approved India Semiconductor Mission (ISM) 2.0, earmarking Rs.1.27 lakh crore, along with a Rs.62,500-crore Mobile Phone Manufacturing Scheme (MPMS),

First Service Index Released

The government has released the countrys first trial Index of Services Production (ISP) for 19 sub-sectors, providing, for the first time, a monthly measure of short-term activity in the formal services sector.

16 growth in direct taxes

Net direct tax collection grew 16.40 to over Rs.6.51 lakh crore till July 13 this fiscal (2026-27), driven by higher corporate tax mop-up.

World Bank

The World Bank Board of Executive Directors approved an $890 million financing package for Indias national rooftop solar programme.

Customs duty

The government has waived basic customs duty on goods used in the manufacturing of display assemblies, lithium-ion cells and inductor coil modules as it looks to promote domestic production of electronic devices like smartphones, laptops, wearables and smart TVs.

Foreign Direct Investment (FDI)

According to the United Nations, Foreign Direct Investment (FDI) into India rose 44 to $39 billion in 2025.

India and Israel

The Bilateral Investment Agreement (BIA) between India and Israel came into force on 4 July 2026, marking a significant step towards strengthening bilateral economic ties and promoting a secure and predictable investment environment between the two countries.

State Bank of India

State Bank of India unveiled a suite of AI-powered digital innovations to strengthen retail and business banking to mark its 71st foundation day, reaffirming its commitment to delivering intelligent and future-ready banking experiences for over 53 crore customers.

Indias gross Goods and Services Tax (GST)

Indias gross Goods and Services Tax (GST) collections rose 13.9 percent year-on-year to Rs.1,94,812 crore in June 2026, according to provisional data released by the finance ministry on 1 July 2026.