Daily Current Affairs • Exam Special
Today's Current Affairs 1 August 2026: Cabinet Schemes, SIR 3.0, Vizag Airport & CWG Judo Gold (SSC, Banking, UPSC Notes)
Good morning, readers. We are back with today's current affairs for competitive exams. A complete, exam-oriented roundup of today's most important national and international news. This current affairs article is written for SSC, Banking (Prelims/Mains), UPSC, and State PCS aspirants, with one-liners and a free practice quiz.
- Union Cabinet Approvals: Samudra Manthan, PM-KISAN, Khelo India
- SIR 3.0: Special Intensive Revision of Electoral Rolls
- Vizag's Alluri Sitarama Raju International Airport
- Supreme Court on UAPA & Births-Deaths Bill
- Economy: Fiscal Deficit, GST, Bloomberg Bond Index
- Banking & Finance: FCNR Deposits, RBI Forex Reserves
- CWG 2026: India's Medal Tally & Historic Judo Gold
- One-Liner Revision Capsule
- Practice MCQs (Instant Answers)
1. Union Cabinet Approvals: Samudra Manthan, PM-KISAN & Khelo India
On 31 July 2026, the Union Cabinet cleared a cluster of decisions that are highly likely to appear in SSC CGL, IBPS, and UPSC Prelims current affairs sections. The flagship decision is the National Offshore Exploration Scheme, "Samudra Manthan," with an outlay of ₹84,084 crore, aimed at boosting domestic oil and gas exploration through deepwater and ultra-deepwater blocks. The scheme is expected to be implemented between 2030-31 and will offer fiscal incentives such as royalty and cess relaxation to attract exploration companies.
Equally important for the agriculture and welfare paper is the five-year extension of the PM-KISAN Samman Nidhi Yojana (FY27–FY31), backed by a total outlay of ₹3.1 lakh crore, continuing the ₹6,000/year direct benefit transfer to eligible farmer families. Alongside this, the Cabinet approved the Khelo India Scheme for another five years with a ₹29,000 crore outlay to strengthen India's sports ecosystem ahead of future Olympic cycles, and a fresh Floating Solar Projects scheme worth ₹5,000 crore to promote renewable energy on water bodies.
A related highlight for banking and SSC aspirants is the government's Design Linked Incentive (DLI) 2.0 scheme, which offers seed funding of up to ₹15 crore to homegrown chip design startups — a topic that connects well with technology-and-economy sections of exams. If you are also exploring certificate courses in AI and semiconductor-adjacent skills, this scheme shows how India is trying to build a full domestic chip ecosystem alongside global partners like ASML.
2. SIR 3.0: Special Intensive Revision of Electoral Rolls
The Election Commission of India's Special Intensive Revision (SIR) 3.0 draft electoral rolls made national headlines as over 1 crore names were deleted across 10 states and Union Territories, including Andhra Pradesh, Haryana, Uttar Pradesh, Telangana, Maharashtra, Punjab, Delhi, and Jharkhand. Andhra Pradesh recorded the highest deletions (44.89 lakh), while Haryana's deletion rate stood at 16.3%, the third-highest among states.
This is a recurring polity and governance topic for UPSC Prelims (Indian Polity), SSC CGL Tier-I, and State PCS exams. Aspirants should know that the SIR exercise is being conducted under Article 324 read with the Representation of the People Act provisions, and it will be followed by publication of final electoral rolls in multiple phases across states in the coming months. If you are preparing for such static-plus-current GK combinations, the weekly current affairs quiz series is a good way to test recall on rolling topics like this one.
3. Vizag Gets Alluri Sitarama Raju International Airport
Prime Minister Narendra Modi inaugurated the Alluri Sitarama Raju International Airport in Bhogapuram, Vishakhapatnam (Andhra Pradesh), along with laying foundation stones for power transmission, highways, and semiconductor packaging projects worth about ₹18,000 crore. The airport has a Phase-1 capacity of 6 million passengers per annum, scalable to 40 million, a 3,800-metre Code E4 runway, and will be developed with 100% water-recycling infrastructure and 5 MW solar power.
This event is important for Static GK on infrastructure and government schemes — a frequently tested area in SSC, Railways, and Banking exams. Note also that the same event included inauguration of transmission systems for the Kurnool Wind and Solar Energy Zones and the Khammam-Devarapalle greenfield highway package on NH-365BG.
4. Judiciary & Legislation: UAPA Questioned, Births-Deaths Bill Passed
The Supreme Court of India questioned the Uttarakhand government's invocation of the Unlawful Activities (Prevention) Act (UAPA) in the 2024 Haldwani violence case, observing that there is "a distinction between public order and national security," and declined to interfere with the Uttarakhand High Court's bail order for the accused. This is a classic polity/current-affairs crossover question testing knowledge of fundamental rights versus preventive detention laws.
Separately, the Lok Sabha passed the Registration of Births and Deaths (Amendment) Bill, 2026 by voice vote amid opposition protests, which is expected to streamline the digital registration process for births and deaths across India — a useful one-liner for SSC and State PCS exams covering recent parliamentary bills.
5. Economy: Fiscal Deficit, GST Collections & Bloomberg Bond Index Delay
India's fiscal deficit for Q1 FY27 stood at 18.2% of the full-year target, comfortably lower than 17.9% same period last year, supported by strong revenue receipts and controlled capital expenditure growth. GST revenue rose about 7% YoY, remaining largely unaffected by the ongoing West Asia crisis-linked trade disruptions.
In a significant setback for Indian debt markets, Bloomberg once again deferred India's entry into its Global Aggregate Bond Index, citing the need for further evaluation — a decision that could keep local government security (G-sec) yields elevated for longer. This is an important topic for Banking Mains (Economy) and UPSC Prelims (Economy) papers, since bond index inclusion directly affects foreign portfolio investment (FPI) flows into India.
On the corporate earnings front, Maruti Suzuki's Q1 net profit declined 11% due to rising input costs despite higher sales volumes, while ITC's cigarette business volumes dipped 6–7% on higher GST compensation cess. Aspirants targeting banking and finance-heavy exams should also revisit how SSC CGL, IBPS PO, and SBI PO salaries and roles compare, since economy current affairs form a major scoring section in all three exams.
6. Banking & Finance: UAE FCNR Deposits and RBI Forex Reserves
Indian banks have mobilised over $5 billion in FCNR(B) deposits from the UAE out of a targeted $10 billion, following the RBI's special dispensation allowing higher interest rates on these deposits. Meanwhile, India's forex reserves rose by $6 billion to $702.1 billion, driven by strong FCNR(B) inflows and a stronger rupee.
Banking aspirants should also note that Bajaj Finserv's Q1 FY27 consolidated profit after tax rose 18% YoY to ₹6,297 crore, and SEBI settled all NSE IPO-related cases for ₹1,491 crore — clearing the path for what could become one of India's largest-ever mega IPOs. These developments are frequently tested in the Banking Awareness section of IBPS PO/Clerk, SBI PO, and RBI Grade B exams. If a career in banking interests you, it's worth comparing options via the latest bank jobs and recruitment notifications before your next application cycle.
7. CWG 2026 Glasgow: India's Medal Tally & Historic Judo Gold
At the 2026 Commonwealth Games in Glasgow, India recorded a historic milestone as 23-year-old Asmita Dey (Tripura) won the country's first-ever Commonwealth Games judo gold medal in the women's 48kg category, defeating Namibia's Haoseb Debrahara in the final. This ends India's 36-year wait for a CWG judo medal.
As of the reporting date, India stood at 5th position with 11 gold, 14 silver, and 26 bronze (51 total medals), led by Australia, Canada, England, and Scotland. Other notable performances include Seema Kaliramana's discus throw bronze at age 27, three years after childbirth, and Loveipreet Singh's national record-breaking weightlifting silver, missing gold by just one kilogram. Sports current affairs like these are commonly tested in SSC and Railways general awareness sections — pair this with the monthly current affairs quiz archive to revise sporting events month-wise.
📝 One-Liner Revision Capsule (Print & Revise)
- Samudra Manthan (Offshore Oil & Gas Exploration Scheme) approved with an outlay of ₹84,084 crore.
- PM-KISAN Yojana extended for 5 years (FY27–FY31) with ₹3.1 lakh crore outlay.
- Khelo India Scheme extended for 5 years with a ₹29,000 crore budget.
- Alluri Sitarama Raju International Airport inaugurated at Bhogapuram, Vishakhapatnam.
- SIR 3.0 draft rolls: Over 1 crore voter names deleted across 10 states/UTs; Andhra Pradesh recorded the highest deletions.
- Registration of Births and Deaths (Amendment) Bill, 2026 passed by the Lok Sabha.
- India's Q1 FY27 fiscal deficit stood at 18.2% of the full-year target.
- Bloomberg again deferred India's inclusion in its Global Aggregate Bond Index.
- Asmita Dey (Tripura) won India's first-ever Commonwealth Games judo gold medal (women's 48kg).
- India's forex reserves rose by $6 billion to $702.1 billion, aided by UAE FCNR(B) inflows.
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🧠 Practice MCQs — Test Yourself
Click on any option to instantly check your answer. Perfect for a 5-minute daily revision before SSC, Banking, or UPSC Prelims.
Q1. What is the total outlay approved for the "Samudra Manthan" offshore oil and gas exploration scheme?
Q2. For how many years has the PM-KISAN Samman Nidhi Yojana been extended, with what total outlay?
Q3. India's first-ever Commonwealth Games judo gold medal (2026, Glasgow) was won by which athlete?
Q4. Which international airport was inaugurated by PM Modi at Bhogapuram, Vishakhapatnam?
Q5. As per SIR 3.0 draft electoral rolls, which state recorded the highest number of voter deletions?
Q6. What was India's fiscal deficit as a percentage of the full-year target at the end of Q1 FY27?
Disclaimer: This article is an original editorial summary of news published on 1 August 2026, compiled for exam-preparation purposes. Figures are sourced from public news reporting and official government press releases; readers are advised to verify final figures from official PIB/ministry notifications before exams.
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