Current Affairs

Central Board of Direct Taxes launched FAST-DS 2026 for small taxpayers, a one-time voluntary disclosure scheme under the Finance Act, 2026, effective from 16 August 2026. It permits eligible taxpayers to declare specified undisclosed/undeclared foreign assets or income on payment of specified tax/fee. Category 1 covers undeclared assets/income up to ₹1 crore; Category 2 covers unreported assets up to ₹5 crore with ₹1 lakh fee, granting immunity under the Black Money Act, excluding PMLA-linked proceeds and concluded assessments.

A new freshwater crab species, Ghatiana karnataka (family Ghatiana), was discovered in Mookambika Wildlife Sanctuary, Udupi, Karnataka. The Western Ghats now record 15 Ghatiana species, with 8 endemic to Karnataka. Males are dark-purple with a V-shaped carapace mark; the species is sighted year-round near perennial streams in evergreen/semi-evergreen forests, using laterite rocks/tree cavities. As pollution-sensitive bio-indicators, its presence suggests pristine habitat. The sanctuary includes Kodachadri Peak, Koosalli/Belkal Theertha/Hidlumane falls, Chakra and Souparnika rivers, and fauna like lion-tailed macaque and slender loris.

NASA’s Nancy Grace Roman Space Telescope, its next flagship orbital observatory, begins its journey to deep space on August 30. Orbiting the Sun–Earth L2 point, it studies dark energy, exoplanets, dark matter and infrared astrophysics, including deep views of the Milky Way. Its Wide Field Instrument (300‑MP infrared; 100× Hubble FOV) measures light from a billion galaxies and microlensing-searches ~2,600 exoplanets; a Coronagraph demonstrates high-contrast imaging/spectroscopy; includes the Galactic Bulge Time-Domain Survey.

A Pakistan population-scale genomics study analysed 1,73,303 people and documented naturally occurring human “knockout” (biallelic loss-of-function) variants across 6,476 genes, aided by consanguinity, and showcased “recall by genotype”. Findings linked APOC3 loss to lower triglycerides (drug: olezarsen); PLA2G7 loss to low Lp-PLA2 (darapladib failed trials); CIDEB loss to lower fatty-liver risk; LRRK2 as Parkinson’s target. Limitation: lifelong gene loss differs from partial, adult-onset drug blockade. India: GenomeIndia (10,000 genomes, 83 groups).

Indian Institute of Astrophysics (DST-led), with collaborators from the US, Hungary and Finland, developed a 3-D magnetohydrodynamic simulation to improve forecasting of Coronal Mass Ejections (CMEs). It traces magnetic energy build-up/release and full evolution of magnetic flux ropes. The study links higher magnetic reconnection rates with greater CME acceleration; reconnection flux can predict CME speed/energy and Earth impact. Validated using NASA Solar Dynamics Observatory HMI and AIA data.

The 7th CBD Subsidiary Body on Implementation (SBI 7) concluded in Nairobi, Kenya, after SBSTTA 28, focusing on the first global review of the Kunming-Montreal Global Biodiversity Framework (KMGBF) to identify implementation gaps. Priorities include mobilising means of implementation, mainstreaming biodiversity, inclusive participation and traditional knowledge. Fewer than half Parties are on track for 2030; water-related targets lag terrestrial. COP 17: Yerevan, Armenia, 19-30 Oct 2026, theme “Taking action for nature”; Kunming Dialogue: 7-9 Sept 2026, Kunming, China.

Researchers at IISc’s SPIRE Lab, in collaboration with ARTPARK and Google, released SraVaani, a multilingual Automatic Speech Recognition (ASR) model. It is trained on 65 Indian languages and dialects, comprising 20 scheduled languages and 45 regional languages/dialects. The model is built on the Vaani dataset, described as one of the largest speech corpora for Indian languages.

India and Indonesia launched a project to restore the Prambanan Temple complex in Indonesia, focusing on conservation of the UNESCO World Heritage Site. Dating to the 9th century, Prambanan (also called Loro Jonggrang) is the largest temple compound dedicated to Lord Shiva in Indonesia and is dedicated to the Trimurti—Brahma, Vishnu and Shiva. Its stone carvings include Ramayana reliefs across the galleries.

India’s cumulative exports (merchandise and services) during April–July 2026–27 are estimated at US$ 316.42 billion, against US$ 279.63 billion in April–July 2025–26. Total imports in April–July 2026–27 are estimated at US$ 365.85 billion. Merchandise exports are US$ 173.78 billion and services exports US$ 142.64 billion; key July drivers include petroleum products, electronic and engineering goods, chemicals, and cotton yarn/fabs./made-ups and handloom products.

NITI Aayog’s “Key Sectors to Position India as a Global Manufacturing Hub” (Vol-1) targets global leadership by 2047, shortlisting 12 sectors; first volume covers chemicals, textiles, telecom/network equipment and solar PV, using phased assessment and roadmap. It flags phenol/methanol/acetic acid (chemicals), textiles (2% GDP; exports $37.7 bn, FY2025), telecom (1.2 bn users; NTP-2025 targets by 2030), and solar (106 GW by Mar 2025; US 97% exports). Economic Survey 2025-26: manufacturing 17-18% real GVA, 38% GVO; secondary sector 25.8% GVA (2024-25), 8% growth; manufacturing employment 11.44% (2023-24).

Scientists have recorded the rare solitary Himalayan bee Colletes bhutanicus in India for the first time, in Tawang district, Arunachal Pradesh, at 1,500-3,800 m elevation. It belongs to genus Colletes, whose females nest individually rather than in hives. Earlier distribution was Bhutan and China (including Xizang/Tibet). Observed visiting 25 flowering plants, indicating pollination of wild vegetation and cultivated crops.

PIB brief: agriculture and allied sectors support ~46.1% workforce. GVA rose from ₹20.94 lakh crore (2014-15) to an estimated ₹52.08 lakh crore (2025-26). Farmer support schemes: Kisan Credit Card (KCC), PM-KISAN (₹4.47 lakh crore transfers), Pradhan Mantri Kisan Maandhan Yojana and PM Fasal Bima Yojana (92.46 crore insured applications since 2016-17). India contributes ~25% global milk; ranks 2nd in eggs, 4th in meat.

The President of India presented Sangeet Natak Akademi Fellowships and Sangeet Natak Akademi Awards for 2024 and 2025. Established in 1953, Sangeet Natak Akademi is an autonomous body under the Ministry of Culture, focusing on India’s intangible heritage in music, dance and drama. Akademi Ratna is its highest honour with ₹3 lakh. Akademi Puraskar (since 1952) covers music, dance and theatre with ₹1 lakh plus Tamrapatra and Angavastram.

ILO’s “Global Employment Trends for Youth 2026” reports that in 2025 global youth unemployment rose to 12.4% (67 million, ages 15–24) and NEET reached 20% (257 million; +9 million since 2023), with women over two-thirds, driven by unpaid care, inadequate childcare and discrimination (notably Southern Asia, North Africa, Arab States). It notes 6.1% of youth jobs (15–29) highly AI-exposed, youth-to-adult unemployment ratio 3.43, and near-90% informality in low/lower-middle-income countries; recommends gender-responsive pro-employment policies, apprenticeships/skills, modernised PES with subsidies, portable social security, and AI safeguards in recruitment.

Parichha Weir (Jhansi, Uttar Pradesh), a 140-year-old dam built in 1886 across the 590-km Betwa (right-bank tributary of Yamuna), has been recognised as a World Heritage Irrigation Structure (WHIS) by the International Commission on Irrigation and Drainage (ICID; established 1950). Proposed canal system (1855, Captain Strachey) serves Bundelkhand via Betwa Canal headworks; two-section rubble-stone masonry with an island. Award to be conferred in France in October at the 26th ICID International Congress and 77th IEC; Jhansi’s Sukwa-Dukwan Weir was listed in 2022. WHIS criteria: >100 years, still serving original purpose.

Government received 20 bids for the Rare Earth Permanent Magnets (REPM) Manufacturing Scheme to set up 6,000 MTPA integrated REPM capacity in India. With an outlay of ₹7,280 crore and 7-year duration, it provides 2 years for facility setup and 5 years for sales-linked incentive disbursal. Capacity will be allocated to 5 beneficiaries via global competitive bidding, covering oxides, metals, alloys and finished REPMs for EVs, wind turbines, electronics, aerospace and defence.

Scientists documented over 300 geographic populations of cascade frogs (genus Amolops) from fast-flowing forest streams and identified three new species: Ammachi’s Cascade Frog (Amolops ammachi) in Tripura’s Jampui Hills, Sendenyu Cascade Frog (A. sendenyu) in Nagaland, and Beautiful Cascade Frog (A. bella) in West Bengal. The study also records five Amolops species first time from India, using DNA dating showing diversification ~32 million years ago (Eocene-Oligocene transition) linked to east–west colonisation and early Himalayan uplift.

The International Monetary Fund (IMF) World Economic Outlook reports 2026 debt-to-GDP estimates, defining the ratio as total public debt relative to gross domestic product. IMF estimates global debt at about 94% of world GDP in 2025, likely nearing 100% by 2029. Highest 2026 ratios: Japan 204.4%, Singapore 171.9%, Sudan 169.1%. India: 55.6% in BE 2026-27; 56.1% in RE 2025-26.

IAF and Royal Malaysian Air Force are conducting Exercise Udara Shakti 2026 at Subang Airbase, Malaysia. The 5-day, biennial drill (hosted in Malaysia) includes India’s Rafale debut, air combat manoeuvres, airlift/refuelling and SME exchanges, with Su-30MKM/MKI, F/A-18D and Rafales; cooperation is being institutionalised via a bilateral Su-30 Forum. Malaysia has shown interest in air-launched BrahMos; India exported ground-based BrahMos to the Philippines. Indian Army will join India–Thailand Exercise Maitree (instituted 2006; alternates hosts); after the 14th edition at Umroi, Meghalaya, it moves to Thailand for company-level counter-terrorism in semi-urban terrain with joint planning, ISR, tactical drills and a 48-hour validation.

Parliament passed the NCDC (Amendment) Bill, 2026 to amend the National Co-operative Development Corporation Act, 1962, expanding NCDC’s mandate and financial scope. It enables direct loans and grants to cooperative societies, new activities including industrial goods, and Centre-approved participation in share capital. It expands “foodstuffs” to items notified by the Centre, removes geographical restrictions for industrial goods, allows state funding to any co-operative development entity, without additional budgetary support. NCDC is a statutory body under the Ministry of Cooperation, set up in 1963.

Scientists have used generative AI to design completely new bacteriophage genomes from scratch. Bacteriophages are viruses that target bacteria. The AI model was trained on millions of existing genetic sequences, learned sequence patterns, and generated novel DNA sequences that do not exist in nature. The output could potentially function as a viral genetic blueprint, enabling customised viruses against drug-resistant bacteria.

Coal and Mines Minister G. Kishan Reddy introduced the Mines and Minerals Amendment Bill 2026 to amend mining regulations, restrict states from imposing additional taxes/cess/levies on mineral rights, and enhance central control over mineral-bearing lands, aiming efficiency and critical-mineral investment. It flags heavy, multiple, non-uniform, unpredictable and retrospective state levies. Principal law: MMDR Act, 1957. Supreme Court (2024): royalty not a tax; states may tax mineral rights (Entry 50) but Parliament may limit; states may tax mineral-bearing land (Entry 49) beyond Parliament’s limits; Entries 54/23/50 govern powers.

Researchers from Ashoka University developed ACSCeND (AI-based Cancer Stem-like Cell Profiler and Neoplasm Deconvoluter), an AI framework to identify hidden cancer stem-like cells (CSCs) and deconvolute neoplasms. CSCs are rare tumour cells that can survive treatment and drive recurrence, metastasis and drug resistance. ACSCeND analyses bulk tumour RNA sequencing using knowledge from single-cell sequencing, aiding precision medicine, new drug targets, scalability and cost-effectiveness.

NASA extended the Voyager 2 mission by one year as it continues operating in interstellar space beyond the heliopause. Launched in 1977, Voyager 2 is an interplanetary spacecraft exploring the outer Solar System and interstellar space. It is the only spacecraft to visit all four giant planets—Jupiter, Saturn, Uranus and Neptune—and the first to fly by Uranus and Neptune.

Indian botanists from Government Victoria College and Sri Vyasa NSS College discovered a new fern, Pteris madhusoodananii, in the Kolli hills (Eastern Ghats), Tamil Nadu, near Puliansolai shola forest, during a taxonomic revision of southern Indian ferns. Named for Prof. Dr P.V. Madhusoodanan (former Botany HoD, University of Calicut), it is classified Critically Endangered: only two unprotected sites (~8 sq km), threatened by road building, logging and farmland conversion; stiff leathery deep-green fronds, prominent basal lobe, pinna-pinnule architecture, spores with a cingulum.

Tribal leaders alleged the Andaman and Nicobar Islands administration is attempting to shift the Shompen towards a “modern lifestyle”. The Shompen are a Particularly Vulnerable Tribal Group inhabiting dense tropical rainforests of Great Nicobar Island. They belong to the Mongoloid group; Census 2011 estimated their population at 229. Traditionally hunters-gatherers, they hunted wild pig, python, monitor lizard and crocodile, living semi-nomadically without being confined to a defined reserve forest.