CURRENT AFFAIRS

The Government of India has launched the Foreign Assets of Small Taxpayers-Disclosure Scheme, 2026 (FAST-DS) to provide a one-time opportunity to eligible small taxpayers to disclose certain previously undisclosed foreign income and assets.

Parliament has passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2026, amid concerns that restrictions on state-level levies on mineral rights and mineral-bearing land could affect the revenues of mineral-producing states.

The Reserve Bank of India (RBI) has proposed a comprehensive new framework governing interest rates on loans and advances.

The Lok Sabha has passed the Bankers’ Books Evidence Bill, 2026, replacing the 135-year-old Bankers’ Books Evidence Act, 1891. 

The Lok Sabha has passed the Taxation and Other Laws (Amendment) Bill, 2026, replacing the June 5, 2026 Ordinance. The Bill amends the Payment and Settlement Systems Act, 2007, the Income Tax Act, 2025, and the Finance Act, 2026.

The Government of India has introduced the Indian Statistical Institute Bill, 2026 in Parliament to replace the Indian Statistical Institute Act, 1959. 

The Union Cabinet on 31 July 2026 approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) to accelerate the development of floating solar power projects in India. The scheme aims to install 5,000 MW of floating solar capacity by 2030-31.

The Union Government has informed the Lok Sabha that 33 projects have been approved or accorded in-principle approval under the Urban Challenge Fund (UCF). 

The Government of India has amended its Foreign Direct Investment (FDI) policy to allow foreign investment in the inventory-based model of e-commerce exclusively for the export of goods manufactured in India. The decision, announced by the Department for Promotion of Industry and Internal Trade (DPIIT), is aimed at boosting India's e-commerce exports, reducing compliance burdens on Micro, Small and Medium Enterprises (MSMEs), and improving Indian manufacturers' access to global markets.

The National Stock Exchange (NSE) launched the Nifty 500 Ahimsa Index on 10 July 2026, India's first thematic stock market index that tracks companies committed to animal cruelty-free business practices.