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New Tax Bill sweetens deal for electronics makers, global investors
A new comprehensive Tax Bill is set to be tabled in Parliament, proposing significant direct tax amendments aimed at boosting domestic manufacturing and foreign investment. Key proposals include extending tax exemptions for electronics contract manufacturing until FY 2040-41 and offering tax relief to [Foreign Institutional Investors] (FIIs) investing in government securities.
Read on Economic TimesDive Into Study Notes
Must ReadParliament Monsoon Session Day 11 highlights: Lok Sabha passes Bill to raise strength of judges in Supreme Court to 38; RS passes MSME Bill
The Lok Sabha passed the Supreme Court (Number of Judges) Amendment Bill, increasing the sanctioned strength of the Supreme Court from 34 to 38 judges to address case pendency. Concurrently, the Rajya Sabha passed the Micro, Small and Medium Enterprises Development (Amendment) Bill, and several other bills were introduced amidst Opposition protests regarding the NEET-UG exam leak.
Read on The HinduDive Into Study Notes![Illustration about Economy: The [Reserve Bank of India]’s [Monetary Policy Committee] is meeting to review the macroeconomic situation and decide on](/_next/image?url=https%3A%2F%2Fstorage.googleapis.com%2Fprepdose-article-images%2Fdaily-read%2F2026-08-03%2Frbi-mpc-begins-today-as-policymakers-weigh-inflation-crude-risks-115ffbbc.png&w=1200&q=75)
Must ReadRBI MPC begins today as policymakers weigh inflation, crude risks
The [Reserve Bank of India]’s [Monetary Policy Committee] is meeting to review the macroeconomic situation and decide on benchmark interest rates. Market consensus suggests a continuation of the 'status quo' on the repo rate and a cautious stance, driven by a complex interplay of persistent global headwinds (elevated crude prices, hawkish US Fed) and domestic inflation dynamics.
Read on Economic TimesDive Into Study Notes
Must ReadGovt's urban reset: Centre divides ministry of Housing and Urban Affairs into two specialised verticals
The Government of India has bifurcated the Ministry of Housing and Urban Affairs into two new, specialized departments: the Department of Capital Development and the Department of Urban Development. This rapid administrative overhaul, including significant bureaucratic reshuffling, aims to streamline urban planning, policy execution, and service delivery, with a specific focus on the complex challenges of the national capital and overarching urban schemes.
![Illustration about Economy: The [S&P Global HSBC India Manufacturing Purchasing Managers' Index] (PMI) fell to 53.5 in July, the lowest reading sinc](/_next/image?url=https%3A%2F%2Fstorage.googleapis.com%2Fprepdose-article-images%2Fdaily-read%2F2026-08-03%2Findias-july-factory-growth-near-five-year-low-on-weaker-demand-pmi-shows-5661f757.png&w=1200&q=75)
Must ReadIndia's July factory growth near five-year low on weaker demand, PMI shows
The [S&P Global HSBC India Manufacturing Purchasing Managers' Index] (PMI) fell to 53.5 in July, the lowest reading since August 2021. This decline indicates a slowdown in the manufacturing sector's growth, primarily driven by weaker demand, though output growth remained steady and business confidence improved slightly.
![Illustration about Economy: The Government of India informed the [Lok Sabha] that the rise in [Wholesale Price Index] (WPI) inflation to 9.87% in Ju](/_next/image?url=https%3A%2F%2Fstorage.googleapis.com%2Fprepdose-article-images%2Fdaily-read%2F2026-08-03%2Fgovt-cites-global-commodity-energy-costs-for-rise-in-wholesale-price-inflation-3d5c010e.png&w=1200&q=75)
Must ReadGovt cites global commodity, energy costs for rise in wholesale price inflation
The Government of India informed the [Lok Sabha] that the rise in [Wholesale Price Index] (WPI) inflation to 9.87% in June was primarily driven by global commodity and energy cost pressures, particularly in mineral oils, food articles, and basic metals. The government highlighted measures taken to control inflation, including augmenting buffer stocks and strategic open market sales, while reaffirming the [Reserve Bank of India]'s flexible inflation targeting framework.
Read on Economic TimesDive Into Study Notes
ImportantStrong health systems for all with better public spending
The article analyzes the persistent gap in public health spending between low- and middle-income countries (LMICs) and high-income countries, highlighting a reduction in global health aid and strained national budgets. It argues that with financial resources shrinking, the focus must shift towards improving the efficiency of existing public health expenditure through better budget execution, strategic allocation towards preventive care, and enhanced governance.
'Free is the most expensive word in public policy,' says CEA Nageswaran
Chief Economic Advisor (CEA) V. Anantha Nageswaran, addressing a [CII] summit, strongly criticised the policy of providing vital utilities like water for free, terming 'free' the most expensive word in public policy.
Read on Economic TimesDive Into Study Notes
Must ReadDistress and dispute: On Karnataka, Tamil Nadu and the Cauvery
The perennial Cauvery water dispute between Karnataka (upstream) and Tamil Nadu (downstream) has resurfaced due to an initial deficit in southwest monsoon rainfall, triggering political tension and protests. The [Cauvery Water Management Authority (CWMA)] has directed Karnataka to release water to Tamil Nadu, highlighting the urgent need for a permanent distress-sharing formula during deficit rainfall years.
![Illustration about Science & Technology: [ISRO] Chairman S. Somanath has emphasized the need to prioritize scientific missions over commercial launches, highligh](/_next/image?url=https%3A%2F%2Fstorage.googleapis.com%2Fprepdose-article-images%2Fdaily-read%2F2026-08-03%2Fscience-must-become-priority-of-space-missions-we-need-more-money-for-it-isro-chief-somanath-9cfbb325.png&w=1200&q=75)
Must ReadScience must become priority of space missions, we need more money for it: ISRO chief Somanath
[ISRO] Chairman S. Somanath has emphasized the need to prioritize scientific missions over commercial launches, highlighting the current dominance of commercial activities due to demand and budget constraints.
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