Current Affairs

Indian Oil Corporation

Indian Oil Corporation Limited and the State Trading Corporation of Mauritius signed a five-year sales and purchase agreement in Port Louis.

Mobile Phone Manufacturing Scheme

The Ministry of Electronics and Information Technology (MeitY) has notified the Mobile Phone Manufacturing Scheme (MPMS) with a budgetary outlay of Rs.62,500 crore, aimed at enhancing Indias global competitiveness

Asian Development Bank

The Government of India and the Asian Development Bank (ADB) on 21 August 2026 signed a $230 million loan agreement to modernise and expand water supply and sanitation infrastructure in Chennai.

Central Board of Direct Taxes

The Central Board of Direct Taxes (CBDT) has notified the Foreign Assets of Small Taxpayers Disclosure Scheme (FAST-DS) Rules, 2026.

Natural Gas Corp

State-owned Oil and Natural Gas Corp (ONGC) has secured a licence from the U.S. Treasurys Office of Foreign Assets Control (OFAC), allowing it to resume full operations in Venezuela after years of limiting activity because of sanctions-related risks.

Reliance Industries Ltd

Mukesh Ambanis Reliance Industries Ltd and Rolls-Royce announced they plan to jointly develop a sovereign indigenous combat engine for Indias Advanced Medium Combat Aircraft (AMCA).

Merchandise exports

Indias total exports of merchandise and services rose 13.31 percent year-on-year to USD 80.14 billion in July 2026, compared with USD 70.72 billion in the same month last year, (2025 July) according to the latest data released by the Ministry of Commerce and Industry.

PM-POSHAN

The Centre allocated around 24.15 lakh metric tonnes (MT) of foodgrains to States and Union Territories under the PM-POSHAN scheme during 2025-26, down from 25.31 lakh MT in 2024-25 and 26.82 lakh MT in 2023-24

President Donald Trump to impose 100 tariffs

The US Senate has approved a bill that will allow President Donald Trump to impose 100 tariffs on the worlds top five purchasers of Russian oil or natural gas, including India and China.

MSME Sustainable

The Ministry of Micro, Small and Medium Enterprises (MSME) is promoting quality-driven and environmentally sustainable manufacturing through the MSME Sustainable

The Indian Chamber of Commerce (ICC)

The Indian Chamber of Commerce (ICC) hosted the second edition of the Defence MSME Manufacturers Forum (DMMF) under the theme “Make in India for the World: Empower MSMEs for Indias Defence Aerospace Future,” in Hyderabsd on 1 August 2026.

Indias gross Goods and Services Tax (GST)

Indias gross Goods and Services Tax (GST) collections rose 15.4 percent year-on-year to Rs.2.11 lakh crore in July 2026, according to data released by the Goods and Services Tax Department. Gross GST revenue stood at Rs.1.83 lakh crore in July 2025.