Cabinet Approves Expanded Khelo India Scheme and Enhanced ANSFs with Rs.36,441 Crore Outlay
Union Cabinet, chaired by Prime Minister (PM) Narendra Modi, approved the expanded Khelo India Scheme and enhanced Assistance to National Sports Federations (ANSFs) with a combined financial outlay of Rs. 36,441 crore for Financial Year 2026–27(FY27) to FY31 to promote sports as a tool for youth development, nation-building, and India’s emergence as a global sporting powerhouse.
Cabinet Approves Rs 84,084 crore ‘Samudra Manthan’ Scheme to boost Offshore oil and Gas Exploration
Union Cabinet, chaired by Prime Minister (PM) Narendra Modi, approved Rs 84,084 crore ‘Samudra Manthan’-National Offshore Exploration (NOE) scheme, aimed to boost offshore oil and gas exploration, strengthen India’s energy security, reduce India’s dependence on imported energy, and promote technological innovation in the upstream energy sector.
- As per the Government of India (GoI), the newly approved scheme will be implemented through Financial Year 2030-31 (FY31).
Cabinet Approves Rs 5,070 Crore to PM-SSY for Floating Solar Projects
Union Cabinet, chaired by Prime Minister (PM) Narendra Modi, approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) under the Ministry of New and Renewable Energy (MNRE) for the development of Floating Solar Photovoltaic (FSPV) Projects with Energy Storage Systems (ESS) with a total outlay of Rs 5,070 crore.
- The scheme aims to develop 5,000 Megawatt (MW)of floating solar capacity with co-located ESS to strengthen renewable energy generation and grid reliability.
Cabinet Approves PM-KISAN Scheme for Next Five Years with Rs. 3.15 Lakh Crore
Union Cabinet, chaired by Prime Minister (PM) Narendra Modi, approved the continuation of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme for another 5 years i.e. from 2026-27 to 2030-31, with total budget outlay of Rs 3.15 lakh crore(Rs. 3,15,614 crore).
About Pradhan Mantri Kisan Samman Nidhi (PM-KISAN):
Background: Launched in February 2019, PM-KISAN, is a Central Sector Scheme (CSS) i.e 100% funding by the central government.
Financial Support: It is one of the world’s largest direct income support programmes designed specifically for farmers with cultivable land,Provides annual financial assistance of Rs 6,000 in three equal installments of Rs 2,000 via the Direct Benefit Transfer (DBT) to eligible farmer families.
DFS Launches Sovereign-Backed P&I Insurance Product under BMIP
Department of Financial Services (DFS), Ministry of Finance (MoF), launched India’s first sovereign-backed Protection & Indemnity (P&I) insurance product under the Bharat Maritime Insurance Pool (BMIP) in New Delhi, Delhi, providing third-party liability coverage of up to USD 1.5 billion.
- Sanjay Lohia, Secretary of DFS, handed over the first P&I insurance policy document, designed and issued by The New India Assurance Company Limited (NIACL), to the Shipping Corporation of India Limited (SCI).
Ministry of AYUSH and IndiaAI Sign MoU to Promote AI-driven Innovation in Traditional Medicine
Ministry of AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy) and IndiaAI, under the Ministry of Electronics and Information Technology (MeitY), signed a Memorandum of Understanding (MoU) to promote Artificial Intelligence (AI)-driven innovation in the AYUSH sector, strengthening research, digital health and capacity building.
48th Session of UNESCO WHC Held in Busan, South Korea : 25 New Sites, Including One from India Inscribed on the World Heritage List
The 48th session of United Nations Educational, Scientific, and Cultural Organisation (UNESCO)World Heritage Committee (WHC) held under the chairmanship of Lee Byong Hyun (Republic of Korea) from July 19 to 29, 2026 at the Busan Exhibition and Convention Center(BEXCO) in Busan, South Korea, has inscribed 25 new sites, including Ancient Buddhist site of Sarnath (in Varanasi, Uttar Pradesh, UP) on its World Heritage Sites List.
- These newly added sites comprise 19 cultural, 5 natural, and 1 mixed site, bringing the total number of UNESCO-recognised World Heritage (WH) sites to 1,273 across 173 countries.
India-Maldives Launch Favara-UPI Cross-Border Payment Corridor
Maldives Monetary Authority (MMA) operationalised the integration of Favara, the Maldives’ Instant Payment System, with India’s Unified Payments Interface (UPI), enabling real-time cross-border transfers between the Maldives and India.
Varsha Ashok Aglawe Appointed as First Woman Director General of GSI
On 31 July 2026, Varsha Ashok Aglawe assumed charge as the 54th Director General (DG) of the Geological Survey of India (GSI) under the Ministry of Mines (MoM), Government of India (GoI), becoming the first woman to head the organisation in its 176-year history.
- She succeeded Asit Saha, who served as DG from 27 July 2024 to 31 July 2026 and will focus on critical mineral exploration, mineral security, offshore exploration, and strengthening geoscientific infrastructure..
Former COAS General Vishwa Nath Sharma Passed Away
General Vishwa Nath Sharma (Retired), former Chief of Army Staff (COAS), Indian Army (IA), passed away at the age of 91 in New Delhi, Delhi.
- He served as the 14th COAS of the IA from 1st May 1988 to 30th June 1990 and was known for his distinguished military career spanning over four decades.
Italy Football Legend and AC Milan Captain Franco Baresi Passed Away
Italian football player and legendary AC Milan captain Franco Baresi passed away at the age of 66 in Milan, Italy. He was born on 8 May 1960 in Travagliato, Lombardy region of Northern Italy, Italy.
Padma Shri Awardee and Hindi Writer Kailash Chandra Pant Passed Away
In July 2026, renowned Hindi writer Kailash Chandra Pant passed away at the age of 90 in Bhopal, Madhya Pradesh (MP). He was born on 26 April 1936 in Mhow, Indore district, MP.
- He was conferred the Padma Shri in 2026 in the field of Literature and Education for his outstanding contribution to Hindi literature and education.
World FinTech Day 2026 – August 1
World FinTech Day is observed annually on 1st August to raise awareness about the growing role of Financial Technology (FinTech) in modernising financial services, expanding access to financial products, and transforming the global financial industry.
Background:
Commemoration: World FinTech Day commemorates the death anniversary of Cosimo de’ Medici, an Italian banker and politician, who passed away on 1st August 1464.
He is widely regarded as the father of the modern banking system for his pioneering contributions to banking and finance.
World Wide Web Day 2026 – August 1
World Wide Web Day is observed annually on 1 August to commemorate the invention of the World Wide Web (WWW) and recognise its impact on communication, information sharing, digital services and modern technology.
Background:
Origin: The day commemorates the anniversary of the development of the WWW by Tim Berners-Lee.
Recognition: It honours the contributions of individuals who helped shape the Web into its present advanced and organised form.
WWW Invention: Sir Tim Berners-Lee invented the WWW in 1989 at CERN (European Organisation for Nuclear Research), Geneva, Switzerland.
- He developed the first web server (httpd) and browser (WorldWideWeb) in 1990, and launched the world’s first website, info.cern.ch, on 6 August 1991.