Maharashtra Becomes First State To Qualify For Second RKVY Installment
In July 2026, Maharashtra became the first state in India to qualify for the release of the second installment under the Rashtriya Krishi Vikas Yojana (RKVY) after achieving the prescribed fund utilisation benchmark set by the Government of India (GoI).
- The decision was taken during the virtual review meeting, chaired by Union Minister Shivraj Singh Chouhan, Ministry of Agriculture and Farmers Welfare (MoA&FW), conducted to review the utilisation of funds released under RKVY.
- Initially, the scheme was launched as a Central Sector Scheme i.e. 100% funding by the GoI. But, since 2015-16, the funding pattern for the scheme changed into the Centrally Sponsored Scheme i.e. financial assistance provided by the GoI and respective state governments.
MoES Celebrates 20th Foundation Day in New Delhi; Launches New Weather and Ocean Science Initiatives
On July 27 2026, the Ministry of Earth Sciences (MoES) celebrated its 20th Foundation Day at Prithvi Bhawan in New Delhi, Delhi, marking 20 years of contributions to weather forecasting, earth systems science, oceanography, seismology and polar research.
- The event was presided over by Dr. N. Kalaiselvi, Secretary, MoES.
MoPR Launches Atmanirbhar Panchayat Programme, SAMARTH Portal & Model OSR Rules to Strengthen PRIs
In July 2026, Union Minister Rajiv Ranjan Singh, Ministry of Panchayati Raj (MoPR) and Ministry of Fisheries, Animal Husbandry and Dairying (MoFAHD) launched the Atmanirbhar Panchayat Programme, SAMARTH Panchayat Portal, and released the Model Own Source of Revenue (OSR) Rules at Krishi Bhawan, New Delhi, Delhi.
- The initiative aims to strengthen the financial autonomy, digital governance and revenue generation capacity of Panchayati Raj Institutions (PRIs) in line with Viksit Bharat @2047.
India to Use Producer Price Index (PPI) for GDP Deflation
In July 2026, the Ministry of Statistics and Programme Implementation (MoSPI) announced plans to use the output Producer Price Index (PPI) as a deflator for quarterly and annual Gross Domestic Product (GDP) estimates, replacing the Wholesale Price Index (WPI) wherever applicable.
- The PPI series was released by the Department for Promotion of Industry and Internal Trade (DPIIT) in June 2026 to support improved GDP measurement and align India’s national accounts with international standards.
- GDP Deflation: The output PPI will be used for GDP deflation to improve the accuracy of real growth measurement and reduce distortions in GDP estimates.
- In June 2026, WPI inflation rose to 9.87% from 9.68% in May 2026, while output PPI inflation increased to 9.57% from 9.38%.
Union Minister Piyush Goyal Announces Task Force to Support Toy Sector, Targets 5% Global Market Share by 2032
In July 2026, Union Minister, Piyush Goyal, Ministry of Commerce & Industry(MoC&I), announced the formation of a Task Force to support India’s toy sector during the stakeholder meet “Team Up for Toys: Driving Steering Committee for Advancing Local Value Add and Employment (SCALE), Innovation and Exports” organised by Department for Promotion of Industry and Internal Trade (DPIIT) at Vanijya Bhawan, New Delhi, Delhi.
- The task force aims to strengthen the toy sector and achieve a 5% share in the global toy market by 2032.
MoA&FW Allows Use of Anhydrous Ammonia Fertilizer to Reduce Urea Import Dependence
In July 2026, the Ministry of Agriculture and Farmers Welfare (MoA&FW) permitted the manufacture and agricultural use of Anhydrous Ammonia fertilizer under the Clause 20A of the Fertiliser (Inorganic, Organic or Mixed) (Control) Order, 1985, for a three-year period, allowing fertilizer with a minimum nitrogen content of 82% to reduce India’s dependence on imported urea.
- The move aims to promote an alternative nitrogen fertilizer, improve fertilizer-use efficiency, and reduce India’s dependence on imported urea.
MoT Signs MoU with Air India to Promote India as Global Tourism Destination
In July 2026, the Ministry of Tourism (MoT) signed a Memorandum of Understanding (MoU) with Air India Limited in New Delhi, Delhi to promote India as a preferred global tourism destination under the Incredible India brand.
- The MoU was signed in the presence of Union Minister Gajendra Singh Shekhawat, Ministry of Tourism and Ministry of Culture.
GoI Approves RBI Field Trials of Rs 10 and Rs 20 Polymer Currency Notes
In July 2026, the Government of India (GoI) approved the Reserve Bank of India’s (RBI) proposal to conduct field trials of one billion (Bn) polymer banknotes each in the Rs. 10 and Rs. 20 denominations, marking a significant step towards evaluating more durable currency notes in India.
Axis Finance Launches ‘Drishti’ Digital Platform to Strengthen Retail and MSME Lending
In July 2026, Axis Finance Limited (AFL) launched ‘Axis Finance Drishti’, an in-house Business Rules Engine (BRE) and configurable digital platform to strengthen credit decision-making and risk management across retail and Micro, Small and Medium Enterprise (MSME) lending.
- The platform aims to enable faster, data-driven and scalable credit assessments while improving customer experience and lending efficiency.
OmniCard Launches India’s First Flexi Benefits Basket on UPI for Tax-Efficient Employee Benefits
In July 2026, OmniCard Platform, developed by Eroute Technologies Private Limited, launched India’s first Flexi Benefits Basket on the Unified Payments Interface (UPI), offering a single employee-controlled digital wallet for tax-efficient spending across multiple benefit categories.
- Built on its Reserve Bank of India (RBI)-licensed Prepaid Payment Instrument (PPI) platform, the wallet can be used at around 60 million UPI-accepting merchants.
Edelweiss Mutual Fund Launches India’s First REIT-Oriented Index Fund
In July 2026, Edelweiss Mutual Fund (MF) launched the Edelweiss Nifty REITs & Realty Index Fund, India’s first Real Estate Investment Trusts (REITs)-oriented open-ended passive index fund, which tracks the Nifty REITs & Realty Total Return Index (TRI).
- The fund seeks to provide low-cost, long-term capital appreciation by offering diversified exposure to India’s listed REITs and real estate companies through a single investment.
NASA Plans AI-powered ‘PRAXIS’ Mission to Collect and Analyze Saturn Ring Particles Directly
In July 2026, National Aeronautics and Space Administration (NASA) researchers proposed an AI (Artificial Intelligence) mission concept called PRAXIS (Planetary Rings Autonomous EXploration with In-situ Sampling) under Phase I of the NASA Innovative Advanced Concepts (NIAC) 2026 program to enable the first-ever direct collection and analysis of particles from Saturn’s rings.
- The project will be led by Dr B. Marco Quadrelli, a Principal and Group Supervisor of the Robotics Modelling and Simulation Group at the Jet Propulsion Laboratory (JPL), California, United States of America (USA).
CRPF Foundation Day 2026 – 27 July
The Central Reserve Police Force (CRPF) Foundation Day, also known as CRPF Raising Day, is observed annually across India on 27th July to commemorate the establishment of the CRPF in 1939 and honour its contributions to national security, disaster response, and nation-building.
- 27th July 2026 marks the 88th observance of the CRPF Foundation Day.
World Hepatitis Day 2026 – July 28
World Hepatitis Day (WHD) is observed every year on 28 July across the globe to raise awareness about viral hepatitis, promote prevention and treatment, and accelerate global efforts to eliminate it as a public health threat by 2030.
- 2026 Theme: “Hepatitis: Let’s Break It Down”